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46709

	registered interest
	date	03/04/2014
	answering body	Department for Business, Innovation and Skills
	answering dept id	26
	answering dept short name	Business, Innovation and Skills
	answering dept sort name	Business, Innovation and Skills
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Innovation and Skills, if he will break down the £31,400,000 for Royal Mail sale transaction costs in his Department's Supplementary Estimates 2013-14.
	tabling member constituency	Birmingham, Hodge Hill
	tabling member printed	Mr Liam Byrne
	uin	195034
	answer	answer is ministerial correction date of answer 09/04/2014 answer text <p>The Supplementary Estimate included a Reserve Claim to cover the cost of managing and realising the Royal Mail pension assets in 2013-14 of c£31.4m. This is in line with the funding arrangement agreed with HM Treasury in May 2011, whereby costs over and above £50m funded by the Department for Business, Innovation and Skills (BIS) would be met by HM Treasury. These assets transferred to Government from the Royal Mail Pension Plan in April 2012.</p><p> </p><p>The Supplementary Estimate also included a Reserve Claim to cover the total cost of the transaction estimated to be around £32.6m of which £9.2m is stamp duty, £13.1m underwriters and intermediaries commission fees, £4.2m underwriters' discretionary fee which has not been paid, and the balance the direct retail cost.</p><p> </p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 09/04/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
	tabling member	1171 label Biography information for Liam Byrne

46713

	registered interest
	date	03/04/2014
	answering body	Department for Business, Innovation and Skills
	answering dept id	26
	answering dept short name	Business, Innovation and Skills
	answering dept sort name	Business, Innovation and Skills
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Innovation and Skills, what the total value is of all bids received from Local Enterprise Partnerships for the Local Growth Fund to date.
	tabling member constituency	Birmingham, Hodge Hill
	tabling member printed	Mr Liam Byrne
	uin	195056
	answer	answer is ministerial correction date of answer 09/04/2014 answer text <p>All 39 Local Enterprise Partnerships submitted their Strategic Economic Plans to Government on 31st March. All proposals are currently being reviewed and assessed against the published criteria and it is too early to know the total call on the fund. However from an initial review it is clear that the Local Growth Fund is significantly over-subscribed, with bids totalling approximately three or four times the amount available.</p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 09/04/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
	tabling member	1171 label Biography information for Liam Byrne

46714

	registered interest
	date	03/04/2014
	answering body	Department for Business, Innovation and Skills
	answering dept id	26
	answering dept short name	Business, Innovation and Skills
	answering dept sort name	Business, Innovation and Skills
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business, Innovation and Skills, what criteria is used to assess bids from local enterprise partnerships for the Local Growth Fund.
	tabling member constituency	Birmingham, Hodge Hill
	tabling member printed	Mr Liam Byrne
	uin	195057
	answer	answer is ministerial correction date of answer 09/04/2014 answer text <p>The criteria the Government will be using to assess Strategic Economic Plans and bids for the Local Growth Fund were published in July 2013. There are 3 key criteria: ambition and rationale, value for money and delivery and risk. The most successful LEPs will have strong, deliverable Strategic Economic Plans, evidenced by strong partnership working; robust arrangements for accountability; and effective collaboration across Local Enterprise Partnership geography. These LEPs will earn a greater share of the Local Growth Fund.</p> answering member constituency Sevenoaks answering member printed Michael Fallon question first answered 09/04/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
	tabling member	1171 label Biography information for Liam Byrne