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605509

registered interest
date	18/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Economic Situation: Forecasts
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they (1) have confidence in the economic forecasting capability of HM Treasury, (2) have evaluated the performance of HM Treasury forecasters, and (3) have considered the case for outsourcing some or all of HM Treasury's forecasting functions to another organisation.
tabling member printed	Lord Myners
uin	HL2429
answer	answer is ministerial correction date of answer 25/10/2016 answer text <p>The independent Office for Budget Responsibility (OBR) is responsible for producing forecasts for the UK economy and public finances. It publishes regular Forecast Evaluation Reports (FERs) in which it compares its forecasts to subsequent outturns and explains any forecast errors.</p> answering member printed Lord Young of Cookham question first answered 25/10/2016 16:17:53 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

603970

registered interest
date	17/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will explain the basis on which the inflation target for the Bank of England’s Monetary Policy Committee is set; and the circumstances in which that figure would be raised above two per cent.
tabling member printed	Lord Myners
uin	HL2366
answer	answer is ministerial correction date of answer 31/10/2016 answer text <p>A comprehensive Review of the Monetary Policy Framework was published in 2013. The current remit for the Monetary Policy Committee reflects the assessment set out in the 2013 Review, which includes retaining a flexible inflation targeting framework, with a 2 per cent symmetric inflation target. The remit also states that the MPC may allow inflation to deviate from this target temporarily in order not to cause undesirable volatility in output due to the short-term trade-offs involved.</p><p> </p> answering member printed Lord Young of Cookham question first answered 31/10/2016 15:30:20 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

603971

registered interest
date	17/10/2016
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	Motor Vehicles: UK Trade with EU
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will disclose the proposals made by the Prime Minister to Renault Nissan concerning protecting new investment in Sunderland from the impact of potential EU tariffs; and whether similar protection will be offered to other motor vehicle manufacturers, component suppliers and firms that compete with Renault Nissan for capital, labour and land.
tabling member printed	Lord Myners
uin	HL2367
answer	answer is ministerial correction date of answer 25/10/2016 answer text <p>The Government is in close contact with Nissan, as it is with the sector more broadly. It will be a priority of Government negotiations to support all UK based car manufacturers and ensure that their ability to export to and from the EU is not adversely affected by the UK's future relationship with the EU. However, we do not provide a running commentary on our discussions with individual companies.</p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 25/10/2016 15:14:58 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

592909

registered interest
date	03/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Monetary Policy
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the impact of quantitative easing on investment and on savings to determine whether it is of greater benefit to one or the other.
tabling member printed	Lord Myners
uin	HL2035
answer	answer is ministerial correction date of answer 17/10/2016 answer text <p>The independent Monetary Policy Committee (MPC) is responsible for setting monetary policy to deliver its primary objective of maintaining price stability. As the MPC remit makes clear, ensuring price stability is an essential pre-requisite for economic prosperity. The MPC is accountable to both Parliament and the public, through regular reports and evidence given to the Treasury Committee. The Bank of England has previously produced analysis of the distributional effects of asset purchases on different groups in society. At the August Inflation Report hearing on 7 September the Bank committed to updating this analysis.</p> answering member printed Lord Young of Cookham question first answered 17/10/2016 14:27:01 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

592910

registered interest
date	03/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Marketing
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what plans they have to restrict the advertising and promotion of primary option trading and investment to retail investors in the UK by firms based in Cyprus and Malta.
tabling member printed	Lord Myners
uin	HL2036
answer	answer is ministerial correction date of answer 17/10/2016 answer text <p>The government takes this issue very seriously.</p><p> </p><p>The government will introduce measures to strengthen investor protection when it transposes the Markets in Financial Instruments Directive II (MiFID II).</p><p> </p><p>This will include powers for the Financial Conduct Authority (FCA) to prohibit or restrict the marketing, distribution or sale of financial instruments, including relevant binary options where there are significant investor protection concerns.</p><p> </p><p>These powers will apply from 3 January 2018.</p> answering member printed Lord Young of Cookham question first answered 17/10/2016 12:36:00 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

541739

registered interest
date	21/07/2016
answering body	Department for Environment, Food and Rural Affairs
answering dept id	13
answering dept short name	Environment, Food and Rural Affairs
answering dept sort name	Environment, Food and Rural Affairs
hansard heading	River Helford: Fish Farming
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what action they are taking to protect and promote oyster farming on the banks of the Helford River in Cornwall.
tabling member printed	Lord Myners
uin	HL1416
answer	answer is ministerial correction date of answer 04/08/2016 answer text <p>The shellfish industry is an important contributor to the UK economy and is worth over £250 million annually.</p><p> </p><p>Government policy is to facilitate industry-led growth in this sector; it is for private enterprise and the owners of sites to consider the benefits of oyster farming on the banks of the Helford River in Cornwall.</p><p> </p><p>Public funds are currently available to support economic growth in the aquaculture sector through the European Maritime and Fisheries Fund (EMFF). In November 2015, the UK Government published a Multiannual National Plan for Aquaculture which outlines areas of growth earmarked for support under the EMFF.</p><p> </p><p>In addition, the Shellfish Act 1967 exists to encourage the setting up and management of private and natural fisheries through Several and Regulating Orders, which grant exclusive fishing or management rights within a designated area.</p><p> </p> answering member printed Lord Gardiner of Kimble question first answered 04/08/2016 12:33:19 answering member 4161 label Biography information for Lord Gardiner of Kimble
tabling member	3869 label Biography information for Lord Myners

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