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42624

	answering dept short name
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p /> <p /> <p>The Post Office card account (POca) contract expires in March 2015 with the possibility of a 2 year extension beyond that date. </p><p>The POca is a very simple account designed for the receipt of pensions and legacy benefits. It cannot be used for the payment of wages/salaries and does not offer transactional services such as direct debits so will not be suitable for the majority of working age claimants eligible for Universal Credit. </p><p>No decision has been made on the future of the POca but discussions are currently taking place between DWP, Post Office Ltd and the Department for Business, Innovation and Skills to consider the future needs of customers beyond 2015 and any announcement on this matter will be made in due course.</p><p>Ministers and Officials have also met with relevant stakeholders, including the National Federation of Sub-Postmasters to discuss POca related issues. </p><p> </p><p><strong> </strong></p> answering member 220
	tabling member	3966 label Biography information for Ian Murray

42628

	answering dept short name
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p /> <p /> <p>The Post Office card account (POca) contract expires in March 2015 with the possibility of a 2 year extension beyond that date. </p><p>The POca is a very simple account designed for the receipt of pensions and legacy benefits. It cannot be used for the payment of wages/salaries and does not offer transactional services such as direct debits so will not be suitable for the majority of working age claimants eligible for Universal Credit. </p><p>No decision has been made on the future of the POca but discussions are currently taking place between DWP, Post Office Ltd and the Department for Business, Innovation and Skills to consider the future needs of customers beyond 2015 and any announcement on this matter will be made in due course.</p><p>Ministers and Officials have also met with relevant stakeholders, including the National Federation of Sub-Postmasters to discuss POca related issues. </p><p> </p><p><strong> </strong></p> answering member 220
	tabling member	3966 label Biography information for Ian Murray

42629

	answering dept short name
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p /> <p /> <p>The Post Office card account (POca) contract expires in March 2015 with the possibility of a 2 year extension beyond that date. </p><p>The POca is a very simple account designed for the receipt of pensions and legacy benefits. It cannot be used for the payment of wages/salaries and does not offer transactional services such as direct debits so will not be suitable for the majority of working age claimants eligible for Universal Credit. </p><p>No decision has been made on the future of the POca but discussions are currently taking place between DWP, Post Office Ltd and the Department for Business, Innovation and Skills to consider the future needs of customers beyond 2015 and any announcement on this matter will be made in due course.</p><p>Ministers and Officials have also met with relevant stakeholders, including the National Federation of Sub-Postmasters to discuss POca related issues. </p><p> </p><p><strong> </strong></p> answering member 220
	tabling member	3966 label Biography information for Ian Murray

47118

	answering dept short name	Business, Innovation and Skills
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p> </p><p>All investors in Royal Mail - whether individuals or institutions - have a reasonable expectation of privacy: therefore we have not disclosed the names of specific investors and their involvement in the IPO process.</p><p> </p> answering member 88
	tabling member	3966 label Biography information for Ian Murray

47657

	answering dept short name	Justice
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p> </p><p>The Lord Chancellor is committed to reviewing the impact of the introduction of fees in the employment tribunals system. The Ministry of Justice is currently finalising arrangements for the timing and scope of this review, to enable the impacts to be properly assessed, and we will be making an announcement in due course.</p> answering member 1496
	tabling member	3966 label Biography information for Ian Murray

48104

	answering dept short name	Justice
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p> </p><p>The Lord Chancellor is committed to reviewing the impact of the introduction of fees in the employment tribunals system. The Ministry of Justice is currently finalising arrangements for the timing and scope of this review, to enable the impacts to be properly assessed, and we will be making an announcement in due course.</p> answering member 1496
	tabling member	3966 label Biography information for Ian Murray

48116

	answering dept short name	Business, Innovation and Skills
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p>The Government set the overall allocation policy with the aim of getting the right balance between longer-term, stable investors, retail investors and shorter-term investors who provide liquidity in the market.</p><p> </p><p>Allocations were made to a number of institutions who in the early stages of engagement were willing to place non-binding orders despite the risks attached to the IPO such as the industrial relations situation. These investors gave us confidence that there was sufficient demand to proceed with the IPO.</p><p> </p><p>We had nearly three-quarters of a million retail applications so their allocations were scaled back as they were for institutional investors. Given this high demand, Ministers decided to prioritise smaller investors and put in place a cut-off above £10,000 and give everyone below that the same number of shares. Around 95% of retail investors were allocated shares.</p><p><strong> </strong></p><p><strong> </strong></p><p> </p> answering member 88
	tabling member	3966 label Biography information for Ian Murray

48627

	answering dept short name	Justice
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p> </p><p> </p><p>The guidance document published by HM Courts &amp; Tribunals Service (HMCTS) explains that remission applications will be processed within five working days of the date that they are received, and that appeals will be determined within 10 days. The latest available information collated by HMCTS staff indicates that the applications received in respect of employment tribunal matters are currently determined within three working days. Appeals in respect of employment tribunal remissions decisions are currently determined within nine days.</p><p> </p><p>However, data on the time taken for each one of the remission applications determined so far is not readily available. To obtain that data would require significant work to interrogate the relevant HMCTS case management database. This work, if undertaken for the purposes of answering this question, would incur disproportionate cost.</p> answering member 1496
	tabling member	3966 label Biography information for Ian Murray

48721

	answering dept short name	Business, Innovation and Skills
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p>The stabilisation period, also known as a &quot;greenshoe&quot; or &quot;over-allotment&quot; option, is a market-standard provision that allows the Initial Public Offering's (IPO) stabilisation manager to provide share price stabilisation (if required) for up to 30 days post-commencement of conditional dealings. In the case of the Royal Mail, the stabilisation manager was UBS and the stabilisation period ended on 8 November.</p><p> </p><p>In the engagement letter, the payment of the discretionary fee was linked to the ending of the stabilisation period. However, we informed the banks involved that a decision would not be taken in the timeframe set out in the engagement letter given the volatility of the Royal Mail share price after the IPO.</p><p> </p><p>We have not set a rigid timetable for the decision on the payment of the discretionary fee which remains unpaid.</p><p> </p> answering member 88
	tabling member	3966 label Biography information for Ian Murray

48722

	answering dept short name	Business, Innovation and Skills
	tabling member printed	Ian Murray
	type	WrittenParliamentaryQuestion
	answer	answer answer text <p>UK Export Finance (UKEF) supports UK exports, principally through the provision of guarantees to banks extending loans to overseas buyers and insurance to UK exporters against the risk of non-payment. From 1 May 2010 to 31 March 2014, the percentage of guarantees and insurance policies issued by UKEF that have subsequently defaulted resulting in a claim being paid, or where a claim is currently under examination, is 0.2%.</p><p> </p><p>Given the tenor of transactions that UKEF typically supports, which can be up to 15 years, an in-year default rate does not give a clear indicator of the performance of UKEF's portfolio. In accordance with the financial objectives and risk measures agreed with HM Treasury, UKEF measures the Expected Loss of its portfolio. Expected Loss is the statistical estimate of the amount of UKEF's contingent liability which could be expected to turn into claims that are irrecoverable. Full details of UKEF's performance and risk management can be found in its Annual Report and Account which is available in the libraries of the House.</p> answering member 88
	tabling member	3966 label Biography information for Ian Murray