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1682836

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Interest Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of reports that the Bank of England is considering cutting interest rates in response to the slowdown of wage growth; and what assessment they have made of the effect that this would have on the economy more widely.
tabling member printed	Lord Taylor of Warwick
uin	HL1720
answer	answer is ministerial correction date of answer 31/01/2024 answer text <p>Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England, so the Government rightly does not comment on the conduct or effectiveness of monetary policy.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 31/01/2024 12:13:32 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1682837

registered interest
date	17/01/2024
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Railways: Strikes
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to reports of upcoming rail strikes, what steps they are taking to implement contingency plans to minimise disruption for passengers.
tabling member printed	Lord Taylor of Warwick
uin	HL1721
answer	answer is ministerial correction date of answer 30/01/2024 answer text <p>The rail strikes are being held by ASLEF, the only rail trade union in a national dispute with train operators following the rejection of a fair pay offer of 8 per cent over two years in exchange for much needed workforce reforms. This would have raised the average train driver’s salary to around £65,000 pa. We continue to urge ASLEF to put industry’s fair offer to its members in the train operating companies so, like the members of other rail trade unions, they too can have a say and bring disruption to an end.</p><p> </p><p>In the meantime, we are continuing to work closely with train operators to ensure the disruption is minimised as much as possible. The Government has put in place legislation to enable train operators to deliver minimum levels of service during strikes. It is a decision for individual employers whether to use this new tool to mitigate the impact of strikes, but we expect operators to be ready and able to do so, and to make that decision in the best interests of passengers.</p><p> </p> answering member printed Lord Davies of Gower question first answered 30/01/2024 10:59:12 answering member 4499 label Biography information for Lord Davies of Gower
tabling member	1796 label Biography information for Lord Taylor of Warwick

1682838

registered interest
date	17/01/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to recent figures released by the Government Insolvency Service which found that 2002 companies were declared insolvent last month, what plans they have to support companies facing monetary challenges and mitigate the rise in insolvencies.
tabling member printed	Lord Taylor of Warwick
uin	HL1722
answer	answer is ministerial correction date of answer 31/01/2024 answer text <p>While insolvencies have risen in absolute terms, when this is compared to the number of active firms in the economy, the proportion of liquidations is well below previous periods of high insolvency numbers. The Government continues to help businesses with measures such as the Energy Bills Discount Scheme; the frozen business rates multiplier for 2023/24 resulting in bills that were 6% lower; increased 75% business rates relief for retail, hospitality and leisure properties; £1.6bn Transitional Relief, protecting ratepayers facing bill increases and the Supporting Small Business scheme that provides over £500 million in support.</p> answering member printed Lord Offord of Garvel question first answered 31/01/2024 16:04:19 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick