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61574

registered interest
date	12/06/2014
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	Postal Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what discussions he has had with Royal Mail Group, Ofcom or officials or Ministers in other departments about invoking section 44(9) and section 44(10) of the Postal Services Act 2011 to ask Ofcom to report on the sustainability of the Universal Service Obligation.
tabling member constituency	Edinburgh South
tabling member printed	Ian Murray
uin	200467
answer	answer is ministerial correction date of answer 17/06/2014 answer text <p> </p><p>None.</p><p> </p><p>Under the Postal Services Act 2011, Parliament gave Ofcom the primary duty to secure the ongoing provision of the universal service and to this end Ofcom must also have regard for the provision of a universal service to be financially sustainable.</p><p> </p><p> </p><p> </p><p>Ofcom monitors market developments, including any impacts on Royal Mail's performance and operational efficiency, and has the regulatory powers and tools to intervene if the sustainability of the universal service is ever at risk.</p><p> </p><p> </p><p> </p><p>As part of its monitoring regime, Ofcom publishes a report every year on Royal Mail's performance and the postal market, and this includes an update on the financial sustainability of the universal service. More information about Ofcom's regulatory regime can be found on its website (<a href="http://www.ofcom.org.uk/" target="_blank">www.ofcom.org.uk</a>).</p><p> </p><p> </p><p> </p> answering member constituency Cardiff Central answering member printed Jenny Willott question first answered 17/06/2014 16:45:26 answering member 1497 label Biography information for Jenny Willott
tabling member	3966 label Biography information for Ian Murray

61223

registered interest
date	10/06/2014
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	Business: Ethics
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, when he plans to publish the Government's framework for action on corporate responsibility.
tabling member constituency	Edinburgh South
tabling member printed	Ian Murray
uin	200004
answer	answer is ministerial correction date of answer 16/06/2014 answer text <p> </p><p>The intention to publish a framework for action on corporate responsibility was set out in the call for views on corporate responsibility (CR) which ran during 2013. The response to the call for views was published on 28 March 2014 and this notes that the voluntary, evolving and diverse nature of CR means success relies on a business led approach. We received 152 views from a wide range of stakeholders and, where relevant, these will inform future Government action.</p><p> </p> answering member constituency Cardiff Central answering member printed Jenny Willott question first answered 16/06/2014 15:33:59 answering member 1497 label Biography information for Jenny Willott
tabling member	3966 label Biography information for Ian Murray

48721

registered interest
date	28/04/2014
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
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, when the stabilisation period in respect of the privatisation of Royal Mail, as detailed in the engagement letter between his Department and the underwriting banks, ends; and how that period has been defined.
tabling member constituency	Edinburgh South
tabling member printed	Ian Murray
uin	196951
answer	answer is ministerial correction date of answer 01/05/2014 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 constituency Sevenoaks answering member printed Michael Fallon question first answered 01/05/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	3966 label Biography information for Ian Murray

48722

registered interest
date	28/04/2014
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
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Innovation and Skills, what the default rate has been on each of the Government's export guarantee funds since May 2010.
tabling member constituency	Edinburgh South
tabling member printed	Ian Murray
uin	196948
answer	answer is ministerial correction date of answer 06/05/2014 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 constituency Sevenoaks answering member printed Michael Fallon question first answered 06/05/2014 12:00:00 answering member 88 label Biography information for Sir Michael Fallon
tabling member	3966 label Biography information for Ian Murray

48627

registered interest
date	25/04/2014
answering body	Ministry of Justice
answering dept id	54
answering dept short name	Justice
answering dept sort name	Justice
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Justice, how many days were taken to process and grant each of the applications for remissions of employment tribunal fees that have been (a) granted and (b) partially granted.
tabling member constituency	Edinburgh South
tabling member printed	Ian Murray
uin	196795
answer	answer is ministerial correction date of answer 30/04/2014 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 constituency North West Cambridgeshire answering member printed Mr Shailesh Vara question first answered 30/04/2014 12:00:00 answering member 1496 label Biography information for Shailesh Vara previous answer version 8000 answering member constituency North West Cambridgeshire answering member printed Mr Shailesh Vara answering member 1496 label Biography information for Shailesh Vara
tabling member	3966 label Biography information for Ian Murray