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1693270

registered interest
date	04/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank of England: Government Securities
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what are the losses by the Bank of England on holding its bond portfolio that the Treasury has had to reimburse so far in the 2023-24 financial year.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	16567
answer	answer is ministerial correction date of answer 08/03/2024 answer text <p>Data on these quarterly cash transfers between HM Treasury and the Bank of England are made publicly available by the Office for National Statistics (ONS) in their monthly Public Sector Finances publication. The data is available at the following link under the ONS series ID MF7A in worksheet PSA9B:</p><p><a href="https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/datasets/publicsectorfinancesappendixatables110" target="_blank">https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/datasets/publicsectorfinancesappendixatables110</a></p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 08/03/2024 13:07:22 answering member 4639 label Biography information for Bim Afolami
tabling member	14 label Biography information for Sir John Redwood

1693271

registered interest
date	04/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts: Interest Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his Department's forecast is for the cost of indexation of the index linked debt on the debt interest charge for the 2024-25 financial year.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	16568
answer	answer is ministerial correction date of answer 07/03/2024 answer text <p>The Office for Budget Responsibility is the UK’s official forecaster, a breakdown of debt interest costs including the interest payable on index-linked gilts is available in the OBR’s detailed aggregates table 6.16 which is published alongside their March 2024 Economic and Fiscal Outlook.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 07/03/2024 14:26:27 answering member 4639 label Biography information for Bim Afolami
tabling member	14 label Biography information for Sir John Redwood

1691604

registered interest
date	26/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Government Investments
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what UK Government Investments Ltd.'s targets are for (a) rates of return, (b) dividends and (c) capital investment.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	15527
answer	answer is ministerial correction date of answer 29/02/2024 answer text <p>UK Government Investments (UKGI) provides governance and corporate finance expertise to UK Government departments in support of their policy objectives.</p><p> </p><p>UKGI performs the shareholder function for a portfolio of arm’s length bodies (ALBs) on behalf of government departments.</p><p> </p><p>The targets and objectives for the individual ALBs within UKGI’s portfolio are set by the relevant department.</p><p> </p><p>Whilst some of these bodies return dividends, others exist to deliver public services such as National Highways.</p><p> </p><p>For example, the UK Infrastructure Bank (UKIB) is an ALB within UKGI’s portfolio. HM Treasury (HMT) are the sponsor department for UKIB and own the shares in UKIB. UKGI advise HMT on corporate governance and act as HMT’s representative on the Board. HMT set relevant targets for UKIB, including a return on equity target of 2.5% - 4% by the end of the financial year 2025-26 (<a href="https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.nao.org.uk%2Fwp-content%2Fuploads%2F2021%2F12%2FThe-creation-of-the-UK-Infrastructe-Bank.pdf&amp;data=05%7C02%7CEdward.Offer%40hmtreasury.gov.uk%7C01597b1306e84b9d656308dc3846216e%7Ced1644c505e049e6bc39fcf7ac51c18c%7C0%7C0%7C638447121068769551%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C0%7C%7C%7C&amp;sdata=3STtbklZfrrhvONt8KJVKY2Eeo5U1okkXZu7HKBRDys%3D&amp;reserved=0" target="_blank">Link here</a>).</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 29/02/2024 11:59:19 answering member 4639 label Biography information for Bim Afolami
tabling member	14 label Biography information for Sir John Redwood

1691605

registered interest
date	26/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Government Investments
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what was the balance of UK Government Investment Ltd. holdings in (a) 2023 and (b) 2024 to date.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	15528
answer	answer is ministerial correction date of answer 29/02/2024 answer text <p>UK Government Investments (UKGI) provides governance and corporate finance expertise to government departments in support of their policy objectives.</p><p> </p><p>The shareholdings of the arm’s length bodies in UKGI’s portfolio are held by the government department that own each organisation rather than held on the UKGI balance sheet.</p><p> </p><p>Details on the UKGI balance sheet can be found in their Annual Report and Accounts (<a href="https://www.ukgi.org.uk/2023/07/18/uk-government-investments-annual-report-and-accounts-2022-23-2/" target="_blank">Link here</a>)</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 29/02/2024 12:01:00 answering member 4639 label Biography information for Bim Afolami
tabling member	14 label Biography information for Sir John Redwood

1691606

registered interest
date	26/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to increase public sector productivity.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	15529
answer	answer is ministerial correction date of answer 04/03/2024 answer text <p>The government has a relentless focus on getting the most out of every pound spent by boosting public sector productivity and by focusing spending on the government’s priorities.</p><p>In June, the Chancellor announced the Public Sector Productivity Programme as a means of assessing how productivity can be improved and to ensure the long-term sustainability of our public services.</p><p>The programme has focused on embracing the opportunities presented by Artificial Intelligence, reducing the amount of time our key frontline workers spend on administrative tasks and strengthening preventive action to reduce demand on public services.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 04/03/2024 12:50:28 answering member 4780 label Biography information for Laura Trott
tabling member	14 label Biography information for Sir John Redwood

1691607

registered interest
date	26/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate he has made of trends in public sector productivity since 2019.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	15530
answer	answer is ministerial correction date of answer 04/03/2024 answer text <p>ONS publish annual National Statistics on public service productivity up to 2020. The next annual statistic for 2021 will be published on 26 March. ONS also publish estimates of public service productivity which currently include annual estimates for 2021 and 2022 and quarterly estimates up to 2023 Q3. These are official statistics in development.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 04/03/2024 12:37:35 answering member 4780 label Biography information for Laura Trott
tabling member	14 label Biography information for Sir John Redwood

1691612

registered interest
date	26/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Arms Length Bodies: Annual Reports and Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what ministerial involvement there is in (a) setting budgets, (b) preparing annual reports and (c) approving annual reports for arms length public bodies.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	15535
answer	answer is ministerial correction date of answer 04/03/2024 answer text How budgets are set and the process for preparing and approving annual reports for arm’s length bodies (ALBs) are dependent on their classification status and their source of income.<p> </p>Further information on the reporting requirements for ALBs can be found here: <a href="https://assets.publishing.service.gov.uk/media/657b04390467eb001355f84d/MASTER_FINAL_DRAFT_2024-25_FReM___1_.pdf" target="_blank">https://assets.publishing.service.gov.uk/media/657b04390467eb001355f84d/MASTER_FINAL_DRAFT_2024-25_FReM___1_.pdf</a> Further information on the accounting process for each type of ALB can be found here: <a href="https://assets.publishing.service.gov.uk/media/5a74d700e5274a59fa715592/Classification-of-Public_Bodies-Guidance-for-Departments.pdf" target="_blank">https://assets.publishing.service.gov.uk/media/5a74d700e5274a59fa715592/Classification-of-Public_Bodies-Guidance-for-Departments.pdf</a><p> </p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 04/03/2024 15:39:07 answering member 4780 label Biography information for Laura Trott
tabling member	14 label Biography information for Sir John Redwood

1678492

registered interest
date	18/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Securities
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how much money his Department has sent the Bank of England to cover its losses on bonds in the 2023-24 financial year to date.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	7235
answer	answer is ministerial correction date of answer 09/01/2024 answer text <p>So far in financial year 2023-24, HM Treasury has transferred £33,196 million to the Bank of England to cover losses arising from the Asset Purchase Facility in line with the indemnity provided by HM Treasury. This covers losses incurred from net interest costs and the sale and redemption of bonds.</p><p> </p><p>Data on these quarterly cash transfers between HM Treasury and the Bank of England are made publicly available by the Office for National Statistics (ONS) in their monthly Public Sector Finances publication. The data is available at the following link under the ONS series ID MF7A in worksheet PSA9B:</p><p> </p><p><a href="https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/datasets/publicsectorfinancesappendixatables110" target="_blank">https://www.ons.gov.uk/economy/governmentpublicsectorandtaxes/publicsectorfinance/datasets/publicsectorfinancesappendixatables110</a></p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 09/01/2024 17:26:08 answering member 4639 label Biography information for Bim Afolami
tabling member	14 label Biography information for Sir John Redwood

1678493

registered interest
date	18/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what comparative estimate he has made of the cost of delivering public services due to changes in productivity levels in the 2019-20 and 2023-24 financial years.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	7236
answer	answer is ministerial correction date of answer 09/01/2024 answer text <p>Efficiency and productivity are at the heart of the government’s approach to public spending. In June, the Chancellor announced<sup>1</sup> a major public sector productivity programme across all government departments, and set out that if productivity growth in the public sector increased by 0.5% a year, we would stabilise the proportion of GDP consumed by the state by closing the gap between anticipated growth and anticipated spending up to 2050.</p><p> </p><p>No comparative estimate has been made of the cost of delivering public services based on historic changes in productivity.</p><p> </p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 09/01/2024 14:40:09 answering member 4780 label Biography information for Laura Trott
tabling member	14 label Biography information for Sir John Redwood

1671323

registered interest
date	20/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the cost to the public purse was for (a) the civil service and (b) public administration in the financial years (i) 2019-20, (ii) 2022-23 and (iii) 2023-24 as of 20 November 2023.
tabling member constituency	Wokingham
tabling member printed	John Redwood
uin	2440
answer	answer is ministerial correction date of answer 28/11/2023 answer text <p>To answer part (a) of the question: The total salary bill for the civil service can be approximately calculated using data from Cabinet Office owned national statistics, Civil Service Statistics. A link to the latest Civil Service Statistics is available here:</p><p><a href="https://www.gov.uk/government/statistics/civil-service-statistics-2023/statistical-bulletin-civil-service-statistics-2023" target="_blank">https://www.gov.uk/government/statistics/civil-service-statistics-2023/statistical-bulletin-civil-service-statistics-2023</a></p><p> </p><p>Part (b) asks about public administration from budgetary tables published in HM Treasury’s Public Expenditure Statistical Analyses (PESA) it is possible to obtain administrative spending by government departmental group. Please refer to Table 1.7 within the link to PESA 2023 below:</p><p><a href="https://www.gov.uk/government/statistics/public-expenditure-statistical-analyses-2023" target="_blank">https://www.gov.uk/government/statistics/public-expenditure-statistical-analyses-2023</a></p><p> </p><p>In-year expenditure data for 2023-24, from which it is possible to obtain administration budgets, are available from HM Treasury’s OSCAR Transparency release. A link is provided below:</p><p><a href="https://www.gov.uk/government/publications/oscar-ii-publishing-data-from-the-database-september-2023" target="_blank">https://www.gov.uk/government/publications/oscar-ii-publishing-data-from-the-database-september-2023</a></p><p> </p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 28/11/2023 16:15:03 answering member 4780 label Biography information for Laura Trott
tabling member	14 label Biography information for Sir John Redwood