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That makes it hard to roll forward the public-sector pensions deficit: today's contributors and pensioners will take the pain equally, says Mr Ozouf, refusing to pass the buck to future generations.
Its pensions deficit is 75 times its profits.
But he will still have to deal with a pensions deficit and the living wage.
However, the retailer has struggled with falling sales, a hefty rent bill and a pensions deficit.
Mandelson points to the Royal Mail's pensions deficit, which "was last valued at £3.4bn".
Another of the major concerns is the pensions deficit, estimated to reach £10bn soon.
Similar(10)
The pension deficit.
The pension deficit has shrunk, again.
The company's pension deficit grew to £59.5m.
The BHS pension deficit soars to nearly £140m.
The company's pension deficit fell to £42m.
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