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1125507

	registered interest
	date	08/05/2019
	answering body	Department for Transport
	answering dept id	27
	answering dept short name	Transport
	answering dept sort name	Transport
	hansard heading	West Coast Partnership Rail Franchise
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether FirstGroup has met all Department of Transport criteria on railways pensions as a shortlisted bidder for the West Coast Partnership rail franchise.
	tabling member printed	Lord Myners
	uin	HL15602
	answer	answer is ministerial correction date of answer 22/05/2019 answer text <p>The Department does not comment on a live competition. Please note that all bids received for any franchise competition are evaluated against the requirements and instructions set out in the relevant Invitation To Tender.</p><p> </p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 22/05/2019 14:21:03 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	3869 label Biography information for Lord Myners

1126718

	registered interest
	date	14/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they have modelled the systemic risk impact of growth in instructional, non bank, lending.
	tabling member printed	Lord Myners
	uin	HL15735
	answer	answer is ministerial correction date of answer 22/05/2019 answer text <p>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. Part of the FPC’s remit includes the responsibility for assessing risks in the financial system, including from the non-bank financial system. The FPC set out its most recent assessment of financial stability risks from the non-bank financial sector in its 28th November 2018 Financial Stability Report.</p> answering member printed Lord Young of Cookham question first answered 22/05/2019 16:28:54 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1126719

	registered interest
	date	14/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether the proposed independent review of the Financial Conduct Authority's (FCA) supervision of London Capital and Finance will be supported by (1) an independent secretariat, or (2) secondees from the (a) FCA, (b) Prudential Regulation Authority, (c) HM Treasury, or (d) Bank of England.
	tabling member printed	Lord Myners
	uin	HL15736
	answer	answer is ministerial correction date of answer 23/05/2019 answer text <p>On 23<sup>rd</sup> May, the Economic Secretary to the Treasury laid before Parliament a Direction requiring the Financial Conduct Authority (FCA) to carry out an independent investigation into the events and circumstances surrounding the failure of London Capital and Finance. The operational resourcing of this investigation will be a matter for the FCA and Dame Elizabeth Gloster, the independent investigator it appointed.</p> answering member printed Lord Young of Cookham question first answered 23/05/2019 16:38:21 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1127256

	registered interest
	date	16/05/2019
	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	Tax Avoidance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they make an assessment of the culture towards tax compliance of private sector companies who apply to them for loans and credit support; and whether they (1) have, and (2) will, reject applications from those judged to be overly aggressive in tax planning or subject to unacceptably high management charges from related offshore parties.
	tabling member printed	Lord Myners
	uin	HL15809
	answer	answer is ministerial correction date of answer 28/05/2019 answer text <p>Through the British Business Bank, financial support to small businesses is facilitated via a number of delivery partners who provide a range of debt and equity finance.</p><p> </p><p>The British Business Bank has a thorough due diligence process for its delivery partners which includes a robust review and assessment framework for how delivery partners award the finance, monitored through independent auditors. The British Business Bank also has a tax policy that is published in the transparency section of its website.</p> answering member printed Lord Henley question first answered 28/05/2019 14:21:14 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1127257

	registered interest
	date	16/05/2019
	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 Steel: Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether, in extending credit to British Steel, they took into account (1) the management of the borrower, (2) the value for money provided by Greybull Capital in respect of their management charges and other related party transfers, and (3) the use of a capital structure by British Steel that requires interest payments to Greybull parties based offshore.
	tabling member printed	Lord Myners
	uin	HL15810
	answer	answer is ministerial correction date of answer 29/05/2019 answer text <p>I refer the noble Lord to the answer I gave to him on 10 May 2019 to Question HL15469.</p> answering member printed Lord Henley question first answered 29/05/2019 15:49:41 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1127438

	registered interest
	date	20/05/2019
	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 Steel: Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they took into consideration British Steel’s acquisition of Ascoval when reaching their decision on lending to that company.
	tabling member printed	Lord Myners
	uin	HL15849
	answer	answer is ministerial correction date of answer 03/06/2019 answer text <p>The purchase of Ascoval was undertaken by the shareholder, and not by British Steel.</p> answering member printed Lord Henley question first answered 03/06/2019 11:17:09 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1128010

	registered interest
	date	21/05/2019
	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 Steel: Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they used external independent advisers in connection with the evaluation of British Steel's applications for financial support over the last three months; and, if so, (1) who those advisers were, and (2) how much they were paid.
	tabling member printed	Lord Myners
	uin	HL15895
	answer	answer is ministerial correction date of answer 04/06/2019 answer text <p>The Government sought commercial and legal advice from external independent advisers. Exact costs have not been finalised.</p> answering member printed Lord Henley question first answered 04/06/2019 16:05:40 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1128011

	registered interest
	date	21/05/2019
	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 Steel: Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assurance they received that the terms on which they provided financial support to British Steel were at commercial rates.
	tabling member printed	Lord Myners
	uin	HL15896
	answer	answer is ministerial correction date of answer 04/06/2019 answer text <p>The agreement between the Government and British Steel regarding their EU Emissions Trading Scheme compliance was fully commercial and state aid compliant, under Section 7 of the Industrial Development Act 1982.</p><p>The terms of the commercial agreement are set out in letters from the Permanent Secretary to the Department for Business, Energy and Industrial Strategy to the Chair of the Public Accounts Committee and the Comptroller &amp; Auditor General, copies of which have been placed in the libraries of both Houses.</p><p>The Government carried out all of the necessary checks and due diligence which a typical commercial lender would undertake in relation to the company before making a commercial offer, including working closely with legal and commercial advisors to scrutinise the terms of the transaction.</p><p>The Deed of Forfeiture contains the terms and conditions which would be required by a commercial lender.</p> answering member printed Lord Henley question first answered 04/06/2019 16:09:15 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1128081

	registered interest
	date	22/05/2019
	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	Greybull Capital
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they will undertake a review into the activities of Greybull Capital, in particular with regard to (1) Monarch Airlines, (2) British Steel, (3) issues of creditor preference, and (4) the completeness and accuracy of public statements made by Greybull Capital, its partners, and employees.
	tabling member printed	Lord Myners
	uin	HL15930
	answer	answer is ministerial correction date of answer 04/06/2019 answer text <p>The Official Receiver is under a statutory duty to investigate the cause of failure of any company in compulsory liquidation and generally its business, dealings and affairs, which will include any actions taken which have been detrimental to creditors or pension schemes, and will do so in the case of British Steel. He has a duty to report any potential misconduct of directors to my rt. hon. Friend the Secretary of State for Business, Energy and Industrial Strategy.</p><p>In the case of British Steel, the Secretary of State has written to the Insolvency Service, specifically requesting that the investigation not only looks at the conduct of the directors immediately prior to and at insolvency, but also at the investments made in the company (noting previous commitments given in this regard) and the potential value transferred out of the company.</p><p> </p> answering member printed Lord Henley question first answered 04/06/2019 16:04:07 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners

1128082

	registered interest
	date	22/05/2019
	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	Industry: Disclosure of Information
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they intend to commission a review of the legislation and regulatory practice governing whistleblowing in regulated industries to investigate (1) the effectiveness of current practices, (2) the adequacy of protections provided to whistleblowers, and (3) the adoption of policies to promote and safeguard whistleblowing.
	tabling member printed	Lord Myners
	uin	HL15931
	answer	answer is ministerial correction date of answer 04/06/2019 answer text <p>Over recent years, the Government has implemented statutory and non-statutory reforms to improve the whistleblowing framework in all sectors. This includes guidance for whistleblowers on how in practice to make disclosures while preserving their employment protections; and guidance for employers including a non-statutory code of practice.</p><p>We have fulfilled the commitment to keep the Prescribed Persons list up to date – these are individuals and bodies that a whistleblower can approach in order to make a disclosure. Guidance is in place for Prescribed Persons and we review the list annually.</p><p>The most recent reform was a new legislative requirement for most prescribed persons to produce an annual report on whistleblowing disclosures made to them by workers. Relevant prescribed persons were required to publish the first of these reports by the end of September 2018.</p><p>Whilst it is right and proper that Government reviews the whistleblowing framework, we believe that it would be premature to do so now. We need to allow the existing changes that we have introduced to embed and provide the necessary evidence of their impact over time that would support a meaningful review.</p> answering member printed Lord Henley question first answered 04/06/2019 16:04:50 answering member 2616 label Biography information for Lord Henley
	tabling member	3869 label Biography information for Lord Myners