Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member printed question first answered answering member label
tabling member	label

Search

175410

registered interest
date	23/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Markets
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the risks and fairness of high speed trading.
tabling member printed	Lord Kennedy of Southwark
uin	HL4396
answer	answer is ministerial correction date of answer 04/02/2015 answer text <p>The Government sponsored the Foresight Project, which reported in 2012, to analyse the role of computer-based trading, including high frequency trading, in financial markets<sup><sup>[1]</sup></sup>.</p><p> </p><p> </p><p><sup><sup>[1]</sup></sup> <a href="https://www.gov.uk/government/publications/future-of-computer-trading-in-financial-markets-an-international-perspective" target="_blank">https://www.gov.uk/government/publications/future-of-computer-trading-in-financial-markets-an-international-perspective</a></p><p> </p> answering member printed Lord Deighton question first answered 04/02/2015 14:40:31 answering member 4262 label Biography information for Lord Deighton
tabling member	4153 label Biography information for Lord Kennedy of Southwark

175411

registered interest
date	23/01/2015
answering body	Department for Energy and Climate Change
answering dept id	63
answering dept short name	Energy and Climate Change
answering dept sort name	Energy and Climate Change
hansard heading	EU Emissions Trading Scheme
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the emissions trading market.
tabling member printed	Lord Kennedy of Southwark
uin	HL4397
answer	answer is ministerial correction date of answer 04/02/2015 answer text <p>The EU Emissions Trading System (EU ETS) is functioning effectively. However, reform is needed to tackle the surplus of two billion allowances that weakens the incentive to adopt carbon-reducing measures. This risks increasing the long-term cost of meeting the UK’s climate change targets. The Government supports reform through the European Commission’s proposal for a Market Stability Reserve, strengthened by introducing it before 2017 and placing a large portion of the surplus allowances directly in to it.</p><p>Outside the EU, carbon pricing mechanisms are spreading globally as countries recognise their usefulness as tools to modernise economies and tackle emissions. In 2014, about 40 national and over 20 sub-national jurisdictions had implemented or scheduled emissions trading schemes or carbon taxes. Where appropriate, HMG supports the development of these mechanisms through the international negotiations, our bilateral project work and through projects funded by the International Climate Fund.</p> answering member printed Baroness Verma question first answered 04/02/2015 13:46:09 answering member 3790 label Biography information for Baroness Verma
tabling member	4153 label Biography information for Lord Kennedy of Southwark

175412

registered interest
date	23/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	European Central Bank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the quantitative easing programme launched by the European Central Bank.
tabling member printed	Lord Kennedy of Southwark
uin	HL4398
answer	answer is ministerial correction date of answer 06/02/2015 answer text <p>The Treasury regularly monitors global economic developments, including those in the euro area, and their impact on the UK as part of the normal process of policy development.</p><p> </p><p> </p><p> </p><p>It is not for the Government to comment on the appropriate monetary policy stance for the euro area.</p><p> </p><p> </p><p> </p><p>Nonetheless, the Chancellor has made clear that the Government fully supports Mario Draghi’s efforts to ensure that the European Central Bank does whatever it takes to meet its inflation mandate.</p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 06/02/2015 14:51:43 answering member 4262 label Biography information for Lord Deighton
tabling member	4153 label Biography information for Lord Kennedy of Southwark

175413

registered interest
date	23/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Art Works
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment have they made of the case for regulation of the global art market in order to prevent crime.
tabling member printed	Lord Kennedy of Southwark
uin	HL4399
answer	answer is ministerial correction date of answer 04/02/2015 answer text <p>The art market in the UK is already regulated in so far as antique and fine art dealers that accept cash payments of €15,000 Euro or more in exchange for goods are considered ‘High Value Dealers’ and fall within the scope of the Money Laundering Regulations. This is because cash-intensive businesses are considered particularly susceptible to money laundering. High Value Dealers are supervised for the purpose of these Regulations by HM Revenue &amp; Customs.</p><p> </p> answering member printed Lord Deighton question first answered 04/02/2015 14:41:02 answering member 4262 label Biography information for Lord Deighton
tabling member	4153 label Biography information for Lord Kennedy of Southwark

175414

registered interest
date	23/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Lenders
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what protections are in place to protect people from unscrupulous practices in the pawnbroking industry.
tabling member printed	Lord Kennedy of Southwark
uin	HL4400
answer	answer is ministerial correction date of answer 05/02/2015 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market, including pawn broking. The Financial Conduct Authority’s (FCA) more robust regulatory regime will help to improve protection for consumers who use pawn brokers.</p><p> </p><p> </p><p> </p><p>The FCA requires firms to provide adequate pre-contractual explanation to consumers including making it clear to the consumer that, where an article is taken into pawn, the article might be sold if not redeemed. In addition the FCA has introduced tough rules regarding pawn brokers’ conduct of business. The FCA also requires firms to comply with its high-level principles, including ‘treating customers fairly’.</p><p> </p><p> </p><p> </p><p>Where firms breach its rules the FCA is able to impose tough sanctions, such as imposing unlimited fines and ordering firms to pay redress to customers.</p><p> </p> answering member printed Lord Deighton question first answered 05/02/2015 16:43:30 answering member 4262 label Biography information for Lord Deighton
tabling member	4153 label Biography information for Lord Kennedy of Southwark

174280

registered interest
date	16/01/2015
answering body	Department for Communities and Local Government
answering dept id	7
answering dept short name	Communities and Local Government
answering dept sort name	Communities and Local Government
hansard heading	Public Sector: Property
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have a policy position on the disposal of property assets by local authorities, fire authorities and combined authorities.
tabling member printed	Lord Kennedy of Southwark
uin	HL4224
answer	answer is ministerial correction date of answer 29/01/2015 answer text <p>This Government has actively encouraged councils to make better use of their property assets, including selling surplus property, in order to free up brownfield land and to generate broader savings. Indeed, councils are sitting on £2.5 billion of surplus operational assets according to their own returns (source: DCLG, <em>Local Government Finance Statistics England</em>, June 2014).</p><p>Legally, the framework for the disposal of assets by local authorities, fire authorities and combined authorities is set out in the Local Government Act 1972. The legislation gives authorities the power to dispose of land as they see fit and for the best price reasonably obtainable. Local authorities are not always obliged to sell assets to the highest bidder. In certain circumstances they are free to accept a lower offer where the lower price is offset by wider public benefits. This is set out in the General Disposal Consent which permits local authorities to make disposals at less than best consideration without reference to the Secretary of State provided the undervalue does not exceed £2 million. In cases where a proposed disposal is not covered by this general consent an authority would have to apply to the Secretary of State for a specific consent. Each application is considered on its own merits.</p><p> </p> answering member printed Lord Ahmad of Wimbledon question first answered 29/01/2015 17:16:28 answering member 4210 label Biography information for Lord Ahmad of Wimbledon
tabling member	4153 label Biography information for Lord Kennedy of Southwark

174101

registered interest
date	15/01/2015
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Office of Rail Regulation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the effectiveness of the Office of Rail Regulation.
tabling member printed	Lord Kennedy of Southwark
uin	HL4204
answer	answer is ministerial correction date of answer 21/01/2015 answer text <p>The Office of Rail Regulation (ORR) is independent of Government and is accountable to Parliament. The Secretary of State appoints the Chair and other board members and Ministers and Department for Transport officials meet regularly with ORR to discuss a wide range of issues including regulatory matters and railway performance.</p> answering member printed Baroness Kramer question first answered 21/01/2015 11:59:39 answering member 1557 label Biography information for Baroness Kramer
tabling member	4153 label Biography information for Lord Kennedy of Southwark

174102

registered interest
date	15/01/2015
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Railways
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of the responsiveness of the Train Operating Companies to the needs of passengers.
tabling member printed	Lord Kennedy of Southwark
uin	HL4205
answer	answer is ministerial correction date of answer 22/01/2015 answer text <p>The National Rail Passenger Survey consults more than 50,000 passengers a year to produce the National Rail Passenger Survey (NRPS) - a network-wide picture of passengers' satisfaction with rail travel. This survey measures Passengers' overall satisfaction and satisfaction with 30 specific aspects of service can, therefore, be compared over time.</p><p> </p><p>The new approach to rail franchising - as launched by the Secretary of State in March 2013 - is designed to see the interests of passengers strengthened. Since the new programme was launched, passenger satisfaction requirements (based upon the NRPS) have been included in franchises. And when evaluating bids for franchises, credit is given for non-financial factors, which includes initiatives to improve the quality of service to passengers.</p><p> </p> answering member printed Baroness Kramer question first answered 22/01/2015 11:47:12 answering member 1557 label Biography information for Baroness Kramer
tabling member	4153 label Biography information for Lord Kennedy of Southwark

174103

registered interest
date	15/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business: Loans
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what action they are proposing in relation to banks that have missold business loans to customers.
tabling member printed	Lord Kennedy of Southwark
uin	HL4206
answer	answer is ministerial correction date of answer 29/01/2015 answer text <p>Business lending is not, and never has been, within the scope of the Financial Conduct Authority’s (FCA) conduct rules. The position that has traditionally been taken in the UK is that the terms and conditions of contracts between businesses (e.g. loans) are not generally prescribed by government. The government is committed to regulating only where there is a clear case for doing so, in order to avoid putting additional costs on lenders that would ultimately lead to higher costs for businesses customer.</p><p> </p><p> </p><p> </p><p>However, the smaller end of the business community does receive regulatory protection. In the UK, loans to the smallest businesses (sole traders, partnerships consisting of 2 or 3 partners and unincorporated businesses) of less than £25,000 are treated as regulated consumer credit agreements (CCAs).</p><p> </p><p> </p><p> </p><p>This protects consumers, typically in their dealings with banks where there is the potential for consumer detriment. Around three quarters of the 4.8 million UK SMEs are sole traders, partnerships consisting of 2 or 3 partners and unincorporated businesses.</p><p> </p><p> </p><p> </p><p>For those loans which are not treated as CCA loans, there is also a clear route of recourse for businesses that feel they have been mis-sold a business loan to pursue. A business’ first recourse should be to its bank’s customer complaints department. This is a route that has been taken by a number of customers. The FCA’s rules require the banks to properly investigate all complaints and, through ongoing supervision, it continues to monitor the banks’ complaint handling process.</p><p> </p><p> </p><p> </p><p>Furthermore, micro businesses with a turnover of less than 2 million Euros and fewer than 10 employees have recourse to the Financial Ombudsman Service (FOS). The FOS is an independent, non-governmental body, established under statute to provide for the proportionate, prompt and informal resolution of complaints against financial services firms. It provides a free, independent dispute resolution service for bank customers and has a special team looking at this issue. Its decisions are binding on the firm concerned.</p><p> </p><p> </p><p> </p><p>Beyond this, businesses are expected to be responsible for ensuring that contracts they make with other businesses are in their interest. However, if a business believes a bank has acted unlawfully, they can seek to take action through the courts</p><p> </p> answering member printed Lord Deighton question first answered 29/01/2015 15:38:46 answering member 4262 label Biography information for Lord Deighton
tabling member	4153 label Biography information for Lord Kennedy of Southwark

174104

registered interest
date	15/01/2015
answering body	Foreign and Commonwealth Office
answering dept id	16
answering dept short name	Foreign and Commonwealth Office
answering dept sort name	Foreign and Commonwealth Office
hansard heading	Turkey
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what recent assessment they have made of the situation of human rights in Turkey.
tabling member printed	Lord Kennedy of Southwark
uin	HL4207
answer	answer is ministerial correction date of answer 22/01/2015 answer text <p>We and our EU partners monitor closely the human rights situation in Turkey. The UK supports the EU Commission’s assessment of human rights in Turkey, given in its 2014 Annual Progress Report on Turkey’s EU accession. In 2014, Turkey made progress on its human rights reform agenda and adopted an Action Plan for the Prevention of Human Rights Violations. Turkey also continued to build the capacity of its human rights institutions. We welcome this progress and the continuing efforts of the Turkish government aimed at resolving the Kurdish issue.</p><p>However, as the EU’s report has underlined, there is still much to do to implement action plans, strengthen further the human rights institutional framework, and bring Turkish human rights legislation in line with European and international standards, including on rights for minority religious and ethnic groups.</p><p>The report also highlighted areas of concern over the independence and impartiality of the judiciary, the rule of law, and restrictions on the freedom of expression, including temporary bans on social media imposed by the Turkish government. We will continue to work with our EU partners and international institutions, such as the EU and Council of Europe, to support Turkey in its continuing reform agenda.</p> answering member printed Baroness Anelay of St Johns question first answered 22/01/2015 15:57:16 answering member 3474 label Biography information for Baroness Anelay of St Johns
tabling member	4153 label Biography information for Lord Kennedy of Southwark