Rachel said: “GKN has its global headquarters here in Redditch and employs more than 200 people in local jobs, therefore I am closely monitoring Melrose’s takeover attempt.

“I know GKN has itself raised concerns about its own pension scheme if Melrose is eventually successful in its takeover attempt. That is why, in light of the Carillion collapse, I sought assurances from the Government today (Tuesday, January 30) that, in the event of a hostile takeover, pensions will be protected.

“I welcome the Business Minister’s response to my question in which he assured me the Government will continue to proceed with ‘care and caution’ to protect the interests of all members of pension schemes during such takeover bids.”

To watch Rachel’s question to the Business Minister on GKN’s pension scheme, please click here.