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847844

	registered interest
	date	23/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Financial Reporting Council
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government further to the Written Answer by Lord Henley on 20 February (HL5467), whether the Financial Reporting Council changed the wording after my question (HL4627) was tabled on 11 January; and why the Written Answer by Lord Henley on 1 February (HL5095) referred to a position with future effect, not the past and present position.
	tabling member printed	Baroness Bowles of Berkhamsted
	uin	HL5821
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>The fact sheet <ins class="ministerial">attached to the</ins> <del class="ministerial">placed into the Libraries of the House in</del> response <ins class="ministerial">given</ins> to question HL5095 used the word “requested” and is dated June 2017.</p><p> </p><p>My answer to question HL5095 stated the position as of 1<sup>st</sup> February 2018.</p> answering member printed Lord Henley question first answered 05/03/2018 15:27:58 question first ministerially corrected 26/03/2018 15:35:43 answering member 2616 label Biography information for Lord Henley previous answer version 44560 answering member printed Lord Henley answering member 2616 label Biography information for Lord Henley
	tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

847842

	registered interest
	date	23/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Company Accounts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government for what reason, and by whose advice, the overriding true and fair view requirement of sections 226(2) and 227(3) was taken out of the Companies Act 1985 on the implementation of International Accounting Standards; why this was then reinstated as section 393 of the Companies Act 2006, and by whose advice; when section 393 of the Companies Act 2006 come into effect; and for what years that requirement was absent.
	tabling member printed	Baroness Bowles of Berkhamsted
	uin	HL5819
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 introduced the amendments to the Companies Act 1985 needed to provide for the application of the International Accounting Standards Regulation. The regulations commenced on 1 January 2005. The Companies Act 2006 introduced section 393, which commenced on 6 April 2008.</p><p> </p><p>The 2004 regulations gave effect to the EU’s International Accounting Standards Regulation, which introduced the requirement to prepare accounts using EU adopted International Accounting Standards (IAS). The EU Regulation did not include the requirement that IAS accounts should give a “true and fair” view. The Regulation instead relies upon the fact that the framework supporting the standards requires a “fair presentation” of the company’s finances; that it does not require strict conformity with every technical accounting requirement in the accounting Directives; and that the auditor’s report should state whether the accounts give a true and fair view.</p><p> </p><p>The Companies Act 2006 consolidated the requirements of the Companies Act 1985 and the amendments to it and restated and reformed the requirements on the preparation of accounts. In line with the recommendations of the company law review following public consultation, the Companies Act 2006 introduced the “true and fair” requirement for all accounts in section 393.</p><p> </p><p>I am unable to provide further explanation of the Government’s justification in 2004 for not having also included an overarching requirement that IAS accounts must give a true and fair view. It is an established convention that Minsters of one administration cannot see the documents of a previous administration. I am therefore unable to provide the information requested by the noble Baroness.</p> answering member printed Lord Henley question first answered 05/03/2018 15:26:39 answering member 2616 label Biography information for Lord Henley
	tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

847868

	registered interest
	date	23/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Paternity Leave
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what are the main elements of the campaign to encourage more fathers to take shared parental leave; and what is the take-up target.
	tabling member printed	Baroness Lister of Burtersett
	uin	HL5845
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>The Shared Parental Leave (SPL) campaign is jointly sponsored by the Department for Business, Energy and Industrial Strategy and the Government Equalities Office.</p><p> </p><p>It involves advertising online, on posters in rail stations, bus shelters and on roadsides and in some print publications, driving to a website <a href="http://www.gov.uk/sharetheleave" target="_blank">www.gov.uk/sharetheleave</a> which contains more information and links to guidance on the policy. We are also working with key stakeholders and using PR to communicate our messages to both parents and their employers.</p><p> </p><p>The aim of the campaign is to increase awareness of SPL and encourage more parents to discuss this with their partners and employers. We are not able to set a target for take up of shared parental leave as this data is not collected or reported on by employers.</p> answering member printed Lord Henley question first answered 05/03/2018 15:06:13 answering member 2616 label Biography information for Lord Henley
	tabling member	4234 label Biography information for Baroness Lister of Burtersett

846668

	registered interest
	date	21/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	British Standards Institution
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the effectiveness of the Department for Business, Energy and Industrial Strategy's Assisted International Travel Scheme Fund in supporting attendance at both British Standards Institution and International Organization for Standardization committees.
	tabling member printed	Lord Hunt of Kings Heath
	uin	HL5723
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>The Assisted International Travel Scheme has an important role in facilitating UK business participation in international standard making bodies. The Government continues to keep its effectiveness under review.</p> answering member printed Lord Henley question first answered 05/03/2018 15:01:32 answering member 2616 label Biography information for Lord Henley
	tabling member	2024 label Biography information for Lord Hunt of Kings Heath

846663

	registered interest
	date	21/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the potential economic benefits of introducing reforms of the UK’s corporate insolvency framework.
	tabling member printed	Baroness Burt of Solihull
	uin	HL5718
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>In May 2016 the Government published its Review of the Corporate Insolvency Framework consultation. The consultation contained a package of proposals to improve the rescue opportunities for financially-distressed companies in Great Britain.</p><p> </p><p>A summary of responses to the consultation was published in September 2016.</p><p> </p><p>Following the publication of the summary of responses, the Government has continued to engage with a range of interested parties to further discuss and explore issues raised in responses to the consultation. This further engagement will ensure that any reforms, if necessary, will be fit for purpose and best achieve the Government’s aims of rescuing distressed but viable businesses, therefore preserving both value and jobs.</p><p> </p><p>The Government recognises the importance of the insolvency and restructuring regime to the wider UK economy and the important role it plays in, amongst other things, creating strong conditions for growth and access to credit. The consultation stage impact assessment is available from <a href="http://www.gov.uk/" target="_blank">www.gov.uk</a>.</p><p> </p><p>A full response to the consultation will be published later this year.</p> answering member printed Lord Henley grouped question UIN HL5717 question first answered 05/03/2018 15:32:02 answering member 2616 label Biography information for Lord Henley attachment 1 file name Attachment to HL5718.pdf title Impact Assessment
	tabling member	1567 label Biography information for Baroness Burt of Solihull

846842

	registered interest
	date	22/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Nuclear Safeguards
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what new or modified information technology systems are required for the UK nuclear safeguarding authority to be approved by the International Atomic Energy Agency; and what are the estimated costs of developing those systems.
	tabling member printed	Lord Teverson
	uin	HL5804
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>To deliver a domestic safeguards regime, generally referred to as a State System of Accountancy for and Control of Nuclear Materials (SSAC), the Office for Nuclear Regulation (ONR) plans to put in place a Safeguards Information Management and Reporting System (SIMRS). The SIMRS will enable the ONR to obtain and process the information necessary to ensure timely submission to the International Atomic Energy Agency (IAEA) of the reports required by any future safeguards agreements with the IAEA. The SIMRS will also enable submission of any specific reports required by supplier states as part of Nuclear Cooperation Agreements (NCAs).</p><p>ONR has estimated that it will cost £10 million to establish a UK SSAC and SIMRS is included as a part of this overall estimate. An initial tender opportunity in relation to the SIMRS is currently being advertised on the Government Digital Marketplace and responses to that tender will provide more certainty on estimated costs.</p> answering member printed Lord Henley question first answered 05/03/2018 15:32:52 answering member 2616 label Biography information for Lord Henley
	tabling member	3789 label Biography information for Lord Teverson

847846

	registered interest
	date	23/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Banks: Company Accounts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when the Financial Reporting Council (FRC) first became aware of any problems with International Accounting Standards for the capital adequacy of particular banks; by what means the FRC found out about such problems; which banks any such problems applied to; and how the FRC responded to any identified problems.
	tabling member printed	Baroness Bowles of Berkhamsted
	uin	HL5823
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>The Prudential Regulation Authority is responsible for regulation of the capital adequacy of banks. Prior to 2013 this was the responsibility of the Financial Services Authority. The Financial Reporting Council (FRC) was not aware of the contribution that certain features of the International Accounting Standards made to the problem of the capital adequacy of the banks until the problem was a matter of public knowledge. The FRC has engaged with UK Government, Europe, internationally, and with the International Accounting Standards Board since then to develop reforms to the standards, which address the concerns that have been identified.</p> answering member printed Lord Henley question first answered 05/03/2018 15:40:59 answering member 2616 label Biography information for Lord Henley
	tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

845393

	registered interest
	date	20/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Tidal Power: Swansea Bay
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when they will consider and respond to relevant parts of the (1) Clean Growth Strategy, (2) Industrial Strategy, and (3) Hendry Review, in order that a decision is reached on progressing the Swansea Bay Tidal Lagoon.
	tabling member printed	Lord Bradshaw
	uin	HL5593
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>In coming to any decision on the proposed Swansea Bay tidal lagoon, the Government is currently assessing the Hendry Review and considering how this technology delivers against its priorities, as set out in the Clean Growth Strategy and the Industrial Strategy.</p><p> </p><p>This will ensure that the response to the Hendry Review takes into account the best interests of the UK as a whole and represents value for money for the UK taxpayer and the consumer.</p> answering member printed Lord Henley question first answered 05/03/2018 15:09:46 answering member 2616 label Biography information for Lord Henley
	tabling member	2483 label Biography information for Lord Bradshaw

846662

	registered interest
	date	21/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when they intend to publish a full response to the feedback they received on their Review of the Corporate Insolvency Framework consultation, published in May 2016.
	tabling member printed	Baroness Burt of Solihull
	uin	HL5717
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>In May 2016 the Government published its Review of the Corporate Insolvency Framework consultation. The consultation contained a package of proposals to improve the rescue opportunities for financially-distressed companies in Great Britain.</p><p> </p><p>A summary of responses to the consultation was published in September 2016.</p><p> </p><p>Following the publication of the summary of responses, the Government has continued to engage with a range of interested parties to further discuss and explore issues raised in responses to the consultation. This further engagement will ensure that any reforms, if necessary, will be fit for purpose and best achieve the Government’s aims of rescuing distressed but viable businesses, therefore preserving both value and jobs.</p><p> </p><p>The Government recognises the importance of the insolvency and restructuring regime to the wider UK economy and the important role it plays in, amongst other things, creating strong conditions for growth and access to credit. The consultation stage impact assessment is available from <a href="http://www.gov.uk/" target="_blank">www.gov.uk</a>.</p><p> </p><p>A full response to the consultation will be published later this year.</p> answering member printed Lord Henley grouped question UIN HL5718 question first answered 05/03/2018 15:32:02 answering member 2616 label Biography information for Lord Henley attachment 1 file name Attachment to HL5718.pdf title Impact Assessment
	tabling member	1567 label Biography information for Baroness Burt of Solihull

845417

	registered interest
	date	20/02/2018
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Electricity: Storage
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they have made any estimates of the potential cost savings that could be made by securing a greater supply of large scale, long duration electricity storage.
	tabling member printed	Baroness Featherstone
	uin	HL5617
	answer	answer is ministerial correction date of answer 05/03/2018 answer text <p>In 2016 the Government commissioned a study into the benefits of a smart, more flexible energy system, which found that the UK could save £17- 40 billion across the electricity system to 2050 by deploying flexible technologies. These include demand side response and a range of storage technologies. Long duration storage can provide additional security of supply benefits over those provided by short duration storage, and we have recently amended the Capacity Market rules to reflect this.</p> answering member printed Lord Henley question first answered 05/03/2018 15:09:09 answering member 2616 label Biography information for Lord Henley
	tabling member	1531 label Biography information for Baroness Featherstone