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541740

registered interest
date	21/07/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	ARM: SoftBank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have secured any commitments from SoftBank to avoid taking action through royalty payments or increased borrowing costs that would reduce or eliminate corporation tax payments made by ARM Holdings.
tabling member printed	Lord Myners
uin	HL1417
answer	answer is ministerial correction date of answer 29/07/2016 answer text <p>The government is committed to ensuring that corporation tax applies to profits generated from UK activities. It has taken a number of steps at both a domestic and international level to achieve this, including recently announced measures to protect the UK tax base from the payment of interest and royalties to overseas companies.</p><p>The government is not able to comment on how these steps will apply to individual taxpayers.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 29/07/2016 12:20:27 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

541206

registered interest
date	20/07/2016
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	ARM: SoftBank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they consulted experts in the field before publicly welcoming the acquisition of ARM Holdings by SoftBank, and whether they would similarly welcome a rival bid from an international private equity investor.
tabling member printed	Lord Myners
uin	HL1369
answer	answer is ministerial correction date of answer 04/08/2016 answer text <p>SoftBank has made it clear that it intends to invest in ARM, keep its HQ in the UK, and at least double the employee headcount in the UK. The Government welcomes this. No rival bids for ARM have so far been made.</p> answering member printed Baroness Neville-Rolfe question first answered 04/08/2016 12:20:55 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

541207

registered interest
date	20/07/2016
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	ARM: SoftBank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government how they propose to enforce the commitments they have obtained from SoftBank in connection with employment and the location of the headquarters of ARM Holdings.
tabling member printed	Lord Myners
uin	HL1370
answer	answer is ministerial correction date of answer 30/08/2016 answer text <p>The Takeover Panel is responsible for enforcing the post offer undertakings given by SoftBank under the terms of the Takeover Code. Grant Thornton LLP has been appointed as an independent supervisor under the Code to monitor compliance with the undertakings. The Takeover Panel can require SoftBank to submit written progress reports in such form and as frequently as it requires and can take disciplinary action if the undertakings are not fulfilled. The Department for Business, Energy and Industrial Strategy will continue to monitor developments.</p> answering member printed Baroness Neville-Rolfe question first answered 30/08/2016 13:25:30 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

541208

registered interest
date	20/07/2016
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	Foreign Companies: Takeovers
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they plan to introduce legislation restricting the acquisition of key UK companies by foreign investors while they consider their industrial strategy.
tabling member printed	Lord Myners
uin	HL1371
answer	answer is ministerial correction date of answer 15/08/2016 answer text <p>As we build an economy that works for all, the Government will keep the law on takeovers under constant review.</p> answering member printed Baroness Neville-Rolfe question first answered 15/08/2016 12:25:07 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

541209

registered interest
date	20/07/2016
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	ARM: SoftBank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what powers they have to review the financial capacity of SoftBank to support ARM Holdings, and in particular whether they can require a further injection of capital into ARM Holdings before any takeover occurs.
tabling member printed	Lord Myners
uin	HL1372
answer	answer is ministerial correction date of answer 12/08/2016 answer text <p>It is for the parties to the proposed transaction to consider their relative positions in compliance with the Takeover Code. The board of the target company must take independent advice on the offer, and evaluate its effects on the company’s interests, before giving the board’s opinion to shareholders.</p> answering member printed Baroness Neville-Rolfe question first answered 12/08/2016 08:33:57 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

535605

registered interest
date	12/07/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Annuities
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they are considering requiring the providers of pension annuities to increase the rate at which they calculate benefits.
tabling member printed	Lord Myners
uin	HL1152
answer	answer is ministerial correction date of answer 25/07/2016 answer text <p>Annuity rates are set by individual providers and can vary in line with market conditions. The amount of income an individual gets each year from an annuity depends on a variety of factors including how much they had in their pension pot when they bought the annuity, whether they are seeking a joint annuity, and their age, health and lifestyle.</p><p> </p><p>As a result of this government’s pensions reforms, individuals aged 55 and over with a defined contribution pension are now able to make their own choice about how to use their pension savings. The Government’s Pension Wise service provides free, impartial guidance to help people understand their options.</p> answering member printed Lord O'Neill of Gatley question first answered 25/07/2016 08:48:15 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3869 label Biography information for Lord Myners

516984

registered interest
date	03/05/2016
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	British Home Stores: Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review, or charge others to review, the performance of the trustees of the BHS pension schemes, and whether the current trustees are fit and proper to continue performing that role at BHS and other pension schemes.
tabling member printed	Lord Myners
uin	HL8139
answer	answer is ministerial correction date of answer 12/05/2016 answer text <p>The investigation into the BHS pension schemes, including the role of the trustees, is a matter for the independent Pensions Regulator.</p><p> </p><p> </p><p>The actions of the trustees and competence of the trustees are among the issues that we would expect the Regulator to be considering as part of its investigations.</p> answering member printed Baroness Altmann question first answered 12/05/2016 10:03:40 answering member 4533 label Biography information for Baroness Altmann
tabling member	3869 label Biography information for Lord Myners

515522

registered interest
date	25/04/2016
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
hansard heading	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the legislation protecting creditors in the event of business failure.
tabling member printed	Lord Myners
uin	HL7902
answer	answer is ministerial correction date of answer 10/05/2016 answer text <p>We do keep insolvency legislation under review. We seek to ensure that the legislative framework strikes the right balance between rescuing a business, which may also save jobs, and the rights of creditors who may lose out financially.</p> answering member printed Baroness Neville-Rolfe question first answered 10/05/2016 11:36:46 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

511876

registered interest
date	13/04/2016
answering body	Home Office
answering dept id	1
answering dept short name	Home Office
answering dept sort name	Home Office
hansard heading	Sovereign Wealth Funds: Malaysia
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether any enquiries have been launched into the involvement of UK financial institutions in the matter of the Malaysian state fund 1Malaysia Development Berhad.
tabling member printed	Lord Myners
uin	HL7635
answer	answer is ministerial correction date of answer 22/04/2016 answer text <p>The Government is committed to ensuring that the UK has a robust but proportionate anti-money laundering regime. The UK’s first National Risk Assessment of money laundering was published on 15 October 2015. It identified the threats and vulnerabilities faced in this area, and an Action Plan will be published shortly, clearly setting out the steps that will be taken to address them.</p><p>The Prime Minister made clear in his Singapore speech on corruption last year that the Government is determined to make sure the UK does not become a safe haven for corrupt money. The Prime Minister's Anti-Corruption Summit in May will also consider what more the UK and our international partners can do to tackle flows of illicit finance at home and abroad.</p><p>Any investigation is an operational matter for the police and the prosecution authorities. The decision on whether to investigate a case, and then take forward a prosecution, will depend on the evidence available.</p> answering member printed Lord Ahmad of Wimbledon question first answered 22/04/2016 12:57:35 answering member 4210 label Biography information for Lord Ahmad of Wimbledon
tabling member	3869 label Biography information for Lord Myners

483303

registered interest
date	21/03/2016
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Public Sector: Procurement
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have reviewed the implementation of the recommendations on public sector procurement made by Sir Philip Green; and whether they will ask Sir Philip to conduct a further review on policy options to reduce government borrowing.
tabling member printed	Lord Myners
uin	HL7227
answer	answer is ministerial correction date of answer 11/04/2016 answer text <p>Sir Phillip's report contributed enormously to the development of the Coalition Government's policies in respect of common goods and services. Many of the recommendations have been taken forward, including the creation of the Crown Commercial Service. The Crown Commercial Service brings together policy, advice and direct buying, providing commercial services to the public sector and saving money for the taxpayer.</p><p>The 2016 Budget announced that The Chief Secretary to the Treasury, with the support of the Minister for the Cabinet Office, will lead an efficiency review, reporting in 2018. We will set out details of this in due course.</p> answering member printed Lord Bridges of Headley question first answered 11/04/2016 14:30:07 answering member 4535 label Biography information for Lord Bridges of Headley
tabling member	3869 label Biography information for Lord Myners