• 2007 Budget: insolvency and pension schemes -- how much help is on offer?
  • March 28, 2007
  • Law Firm: Mayer, Brown, Rowe & Maw LLP - Chicago Office
  • The Chancellor has announced in his 2007 Budget that the present Financial Assistance Scheme ("FAS") budget of £2bn will increase to £8bn "so that every one of the 125,000 workers will now receive help". The Budget statement went on to say that the Secretary for Work and Pensions will investigate the assets of the affected schemes to see how they can be used to further support affected pensions.