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1130253
star this property registered interest false more like this
star this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Mortgages more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the consequences for depositor protection and financial stability from the number of lenders offering residential property mortgage loans at 95 per cent of value or higher; and what options are open to (1) them, (2) the Bank of England, and (3) the Prudential Regulation Authority, to protect depositors and ensure financial stability. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16114 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p><em>The Financial Policy Committee (FPC) of the Bank of England was set up to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system as part of the new financial regulatory framework legislated for under The Financial Services Act 2012. The FPC noted in their November 2018 Financial Stability Report that the share of households with high mortgage debt-servicing ratios (DSRs) is close to historical lows. The FPC has powers of direction to place limits on the proportion of new mortgages that a bank can extend at high LTV ratios, if it judges that this is required to mitigate financial stability risks.</em></p><p><em> </em></p><em> </em><p><em>While the Bank therefore has powers to tackle these risks, the Financial Services Compensation Scheme (FSCS), set up by the Government in 2001, also provides a key role in ensuring financial stability and protecting depositors. The FSCS provides deposit protection of up to £85,000 per person, per authorised firm. The Financial Services Markets Act 2000 gives powers to the regulators, including the Prudential Regulation Authority (PRA) to make the rules in which FSCS carries out its compensation function.</em></p><p> </p>
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-06-19T16:43:39.46Zmore like thismore than 2019-06-19T16:43:39.46Z
unstar this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1130250
star this property registered interest false more like this
star this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Financial Markets more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they have reviewed the market liquidity in the subprime sterling bond market in the context of increased bond issuance. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16111 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p><em>The Financial Policy Committee (FPC) of the Bank of England was set up to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system as part of the new financial regulatory framework legislated for under The Financial Services Act 2012. The FPC set out its most recent assessment of financial stability risks, including from the sterling bond market, in its March 2019 Policy Summary, in which it noted that post-crisis reforms have made dealers, on which some markets rely, more resilient, reducing the probability that market-making losses could lead to their distress or failure. In addition, the FPC noted that during the more recent period of volatility at the end of 2018, pension funds and insurers had acted as net buyers of sterling corporate bonds. Notwithstanding this, new business models mean that liquidity conditions in corporate debt markets could change quickly in event of stress.</em> <em>However, overall the FPC judged that markets had proved able to function effectively through volatile periods, and the strength of the core financial system, including banks, dealers and insurance companies, would support the functioning of markets on which the economy relied.</em></p>
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-06-19T16:43:32.243Zmore like thismore than 2019-06-19T16:43:32.243Z
unstar this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1130842
star this property registered interest false more like this
star this property date less than 2019-06-10more like thismore than 2019-06-10
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
unstar this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Takeovers: Conflict of Interests more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government, further to the Written Answer by Lord Henley on 20 May (HL15640), whether they have reviewed the decision-making processes in investment institutions which hold equity investments in both the offeror and the offeree in a takeover situation but on behalf of different clients and where a particular outcome might favour one group of clients over another . more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16209 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>Asset managers act as agents of investors in their funds. They are required to manage their funds in the best interests of all of their fund investors and to appropriately avoid, manage and disclose conflicts of interests that could, and do arise between different investor groups. This is a requirement of Markets in Financial Instruments Directive II (MiFID II).</p><p> </p><p>Asset managers should have policies, procedures and governance in place to effectively manage any conflicts arising from their stewardship obligations.</p><p> </p><p>The FCA has recently published a Policy Statement (PS 19/13) ‘Proposals to promote shareholder engagement: Feedback to CP 19/7 and final rules.’ This sets out final rules to implement requirements of the Revised Shareholder Rights Directive (SRD II). SRD II introduced new requirements to improve shareholder engagement and increase transparency around stewardship. The rules came into effect on 10 June 2019 requiring asset managers to disclose and make publicly available their policies on how they engage with the companies they invest in. They also require asset managers to provide certain information to institutional investors, including occupational pension schemes. The new rules are designed to foster stewardship, and better stewardship should lead to better decision making in relation to mergers and acquisitions.</p>
star this property answering member printed Lord Henley more like this
star this property question first answered
less than 2019-06-19T16:42:37.67Zmore like thismore than 2019-06-19T16:42:37.67Z
unstar this property answering member
2616
star this property label Biography information for Lord Henley more like this
star this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1132187
star this property registered interest false more like this
star this property date less than 2019-06-13more like thismore than 2019-06-13
star this property answering body
Department for Business, Energy and Industrial Strategy more like this
star this property answering dept id 201 more like this
unstar this property answering dept short name Business, Energy and Industrial Strategy more like this
star this property answering dept sort name Business, Energy and Industrial Strategy more like this
star this property hansard heading Solar Power: Faversham more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the proposed construction of a solar farm near Faversham by Cleve Hill Solar Park Ltd, in particular the impact of that development on the (1) local environment, in particular Graveney Marshes, (2) wildlife, and (3) availability of farmland; and what consideration they have given to the representations by local residents made to the Planning Inspectorate about such a development, in particular the 98 per cent of such representations which objected to the development. more like this
star this property tabling member printed
Earl Cathcart more like this
star this property uin HL16348 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The Cleve Hill Solar Park proposal is the subject of an application for development consent under the Planning Act 2008. The application is currently being examined by The Planning Inspectorate with members of the public and other interested parties able to take part in the Examination. The Planning Inspectorate has published an Examination Timetable on its web-site. The Examination will consider a range of issues including biodiversity and nature conservation.</p><p>The Examination will last for up to six months with completion scheduled for 29 November 2019. The Planning Inspectorate then has three months to produce its report and recommendations for my rt. hon. Friend the Secretary of State for Business, Energy and Industrial Strategy who has up to three months to consider them, and all relevant matters that are drawn to his attention, before determining whether consent should be granted or refused.</p><p>The Secretary of State’s role in the decision-making process is quasi-judicial, so it is not appropriate for him or his Ministers to comment on the merits or otherwise of the solar park proposal at this stage.</p>
star this property answering member printed Lord Henley more like this
star this property question first answered
less than 2019-06-19T16:40:58.19Zmore like thismore than 2019-06-19T16:40:58.19Z
unstar this property answering member
2616
star this property label Biography information for Lord Henley more like this
star this property tabling member
2463
unstar this property label Biography information for Earl Cathcart more like this
1130215
star this property registered interest false more like this
star this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Credit: Insurance more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the availability of credit insurance cover to assist small and medium-sized enterprises in the current trading climate. more like this
star this property tabling member printed
Lord Allen of Kensington more like this
star this property uin HL16076 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>Government monitors the credit insurance landscape and credit insurers’ pricing practices, through liaison with providers, businesses, and industry bodies. We will continue to study the market and closely monitor trends.</p><p> </p><p>Government has been made aware of restrictions in credit insurance cover some small and medium-sized product-based businesses are facing in the current trading climate. Difficult trading conditions, market trends, and uncertainty have led some credit insurance providers to reassess the level of cover they are willing to offer in certain sectors. This varies by industry and firm, and is a commercial decision for insurers.</p><p> </p><p>Other financial services products are also available to support businesses in lieu of credit insurance, for example from banks.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property grouped question UIN
HL16074 more like this
HL16075 more like this
star this property question first answered
less than 2019-06-19T16:40:31.68Zmore like thismore than 2019-06-19T16:40:31.68Z
unstar this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
4304
unstar this property label Biography information for Lord Allen of Kensington more like this
1130214
star this property registered interest false more like this
star this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Credit: Insurance more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans they have to conduct a market study on credit insurance cover and pricing practices. more like this
star this property tabling member printed
Lord Allen of Kensington more like this
star this property uin HL16075 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>Government monitors the credit insurance landscape and credit insurers’ pricing practices, through liaison with providers, businesses, and industry bodies. We will continue to study the market and closely monitor trends.</p><p> </p><p>Government has been made aware of restrictions in credit insurance cover some small and medium-sized product-based businesses are facing in the current trading climate. Difficult trading conditions, market trends, and uncertainty have led some credit insurance providers to reassess the level of cover they are willing to offer in certain sectors. This varies by industry and firm, and is a commercial decision for insurers.</p><p> </p><p>Other financial services products are also available to support businesses in lieu of credit insurance, for example from banks.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property grouped question UIN
HL16074 more like this
HL16076 more like this
star this property question first answered
less than 2019-06-19T16:40:31.633Zmore like thismore than 2019-06-19T16:40:31.633Z
unstar this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
4304
unstar this property label Biography information for Lord Allen of Kensington more like this
1130252
star this property registered interest false more like this
star this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Lendy: Insolvency more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they will establish an independent review into the FCA’s supervision of Lendy and the actions taken by the FCA once it had raised questions about the firm’s compliance with minimum regulatory standards and disclosure to lenders. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL16113 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>There is an ongoing Financial Conduct Authority (FCA) investigation into the circumstances that have led to the administration of Lendy.</p><p> </p><p>It is important that the FCA rules for P2P lending remain relevant for this evolving sector, and the new rules announced by the FCA on 4 June reflect this. These will help to ensure that investors have the information they need to make effective decisions about P2P investments, without imposing additional costs on borrowers.</p><p> </p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-06-19T16:39:39.717Zmore like thismore than 2019-06-19T16:39:39.717Z
unstar this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1130593
star this property registered interest false more like this
star this property date less than 2019-06-06more like thismore than 2019-06-06
star this property answering body
Department for Education more like this
star this property answering dept id 60 more like this
unstar this property answering dept short name Education more like this
star this property answering dept sort name Education more like this
star this property hansard heading Foundation Courses more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the impact of withdrawing financial support for foundation years attached to degree courses on access to higher education for students from disadvantaged backgrounds. more like this
star this property tabling member printed
Lord Bassam of Brighton more like this
star this property uin HL16137 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>Access and successful participation remain a priority for this government and is enshrined in the Higher Education and Research Act (2017). Everyone with the ability to succeed in higher education should have the opportunity, regardless of their background or where they grew up.</p><p> </p><p>The independent panel’s report to the government, published on 30 May, forms an important step in the review of Post-18 Education and Funding. The government will consider the panel’s recommendations carefully and will conclude the review at the Spending Review. The government has not yet taken decisions with regards to the recommendations put forward.</p><p> </p> more like this
star this property answering member printed Viscount Younger of Leckie more like this
star this property question first answered
less than 2019-06-19T16:39:28.557Zmore like thismore than 2019-06-19T16:39:28.557Z
unstar this property answering member
4169
star this property label Biography information for Viscount Younger of Leckie more like this
star this property tabling member
3504
unstar this property label Biography information for Lord Bassam of Brighton more like this
1131180
star this property registered interest false more like this
star this property date less than 2019-06-11more like thismore than 2019-06-11
star this property answering body
Ministry of Justice more like this
star this property answering dept id 54 more like this
unstar this property answering dept short name Justice more like this
star this property answering dept sort name Justice more like this
star this property hansard heading Prisons: Contracts more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Justice, what estimate he has made of the cost to the public purse of the prison operator competition to date; and what estimate he has made of the projected cost of that competition. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
star this property uin 263187 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The estimated cost for the Prison Operator Competition up to April 2019 is £1.8m. The estimated projected cost of the competition (including costs to date) is £5.5m. The estimated costs cover the staffing and external advice required to develop and run the competition.</p> more like this
star this property answering member constituency South Swindon more like this
star this property answering member printed Robert Buckland more like this
star this property question first answered
less than 2019-06-19T16:39:25.34Zmore like thismore than 2019-06-19T16:39:25.34Z
unstar this property answering member
4106
star this property label Biography information for Robert Buckland more like this
star this property tabling member
4493
unstar this property label Biography information for Richard Burgon more like this
1130212
star this property registered interest false more like this
star this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Credit: Insurance more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans they have to regulate the credit insurance market to ensure that insurance cover adequately protects the supply chain of product-based businesses. more like this
star this property tabling member printed
Lord Allen of Kensington more like this
star this property uin HL16073 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p>The underwriting of insurance risk, including credit risks, is a commercial decision, and Government does not prescribe the terms and conditions insurance companies set when offering insurance. This is important to the proper functioning of the economy. Many of the underlying causes of providers restricting credit insurance cover, wider economic uncertainty and sectoral trends, are outside Government control.</p><p> </p><p>Government is clear that it wants all businesses to thrive now and in the future, and will continue close monitoring of the market and affected sectors. Government is determined to make the UK one of the best places in the world to start and grow a business, and has announced multiple measures to support enterprise. Following the Patient Capital Review, we set out a £20 billion action plan at Budget 2017 to finance firms’ growth.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-06-19T16:38:56.253Zmore like thismore than 2019-06-19T16:38:56.253Z
unstar this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
4304
unstar this property label Biography information for Lord Allen of Kensington more like this