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1122917

	registered interest
	date	24/04/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Asset Life
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they, or the Financial Conduct Authority, are investigating the activities of Asset Life and the suitability of its directors.
	tabling member printed	Lord Myners
	uin	HL15308
	answer	answer is ministerial correction date of answer 08/05/2019 answer text <p>This question has been passed on to the Financial Conduct Authority (FCA). The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Young of Cookham question first answered 08/05/2019 12:55:24 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1124419

	registered interest
	date	01/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether Treasury ministers or officials have been in discussions with the Financial Conduct Authority (FCA) about the establishment by the latter of an independent review into the FCA’s supervision of London Capital & Finance; and why the terms of reference of the review and the identity of the independent reviewer have not yet been published.
	tabling member printed	Lord Myners
	uin	HL15468
	answer	answer is ministerial correction date of answer 15/05/2019 answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. The independent investigation will seek to better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.</p><p>It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including the appointment of the independent investigator, will be published shortly.</p> answering member printed Lord Young of Cookham question first answered 15/05/2019 11:31:21 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1126718

	registered interest
	date	14/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they have modelled the systemic risk impact of growth in instructional, non bank, lending.
	tabling member printed	Lord Myners
	uin	HL15735
	answer	answer is ministerial correction date of answer 22/05/2019 answer text <p>The Financial Policy Committee (FPC) of the Bank of England was set up to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system as part of the new financial regulatory framework legislated for under The Financial Services Act 2012. Part of the FPC’s remit includes the responsibility for assessing risks in the financial system, including from the non-bank financial system. The FPC set out its most recent assessment of financial stability risks from the non-bank financial sector in its 28th November 2018 Financial Stability Report.</p> answering member printed Lord Young of Cookham question first answered 22/05/2019 16:28:54 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1126719

	registered interest
	date	14/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether the proposed independent review of the Financial Conduct Authority's (FCA) supervision of London Capital and Finance will be supported by (1) an independent secretariat, or (2) secondees from the (a) FCA, (b) Prudential Regulation Authority, (c) HM Treasury, or (d) Bank of England.
	tabling member printed	Lord Myners
	uin	HL15736
	answer	answer is ministerial correction date of answer 23/05/2019 answer text <p>On 23<sup>rd</sup> May, the Economic Secretary to the Treasury laid before Parliament a Direction requiring the Financial Conduct Authority (FCA) to carry out an independent investigation into the events and circumstances surrounding the failure of London Capital and Finance. The operational resourcing of this investigation will be a matter for the FCA and Dame Elizabeth Gloster, the independent investigator it appointed.</p> answering member printed Lord Young of Cookham question first answered 23/05/2019 16:38:21 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1129548

	registered interest
	date	04/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government why 12 months have been allowed for the completion of Dame Elizabeth Gloster's inquiry into the circumstances surrounding the collapse of investment firm London Capital & Finance and the Financial Conduct Authority’s supervision of the firm.
	tabling member printed	Lord Myners
	uin	HL16033
	answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it. The investigation will look at the events and circumstances surrounding the failure of LCF and whether, in its supervision of LCF, the FCA discharged its functions in a manner which enabled it to effectively fulfil its statutory objectives. Dame Elizabeth will be able to consider any other matters she deems relevant to the events set out in the Treasury’s direction to the FCA.</p><p> </p><p>Dame Elizabeth is an experienced barrister, leading QC and Judge at the High Court and Court of Appeal. The Treasury is satisfied that she will be able to lead a robust and independent investigation.</p><p> </p><p>The Treasury has stipulated that the investigation should be completed within 12 months, whilst allowing the investigator to report sooner than 12 months if this is feasible. This will ensure that the investigation is as thorough as possible and that the right lessons are learned to better protect those who invest their money in the future.</p> answering member printed Lord Young of Cookham grouped question UIN HL16034 HL16035 question first answered 18/06/2019 15:18:13 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1129549

	registered interest
	date	04/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Barlow Clowes: Insolvency
	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 role Dame Elizabeth Gloster played as counsel in cases arising out of (1) the insolvency of Barlow Clowes, and (2) the payment of compensation to investors in that firm's funds.
	tabling member printed	Lord Myners
	uin	HL16034
	answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it. The investigation will look at the events and circumstances surrounding the failure of LCF and whether, in its supervision of LCF, the FCA discharged its functions in a manner which enabled it to effectively fulfil its statutory objectives. Dame Elizabeth will be able to consider any other matters she deems relevant to the events set out in the Treasury’s direction to the FCA.</p><p> </p><p>Dame Elizabeth is an experienced barrister, leading QC and Judge at the High Court and Court of Appeal. The Treasury is satisfied that she will be able to lead a robust and independent investigation.</p><p> </p><p>The Treasury has stipulated that the investigation should be completed within 12 months, whilst allowing the investigator to report sooner than 12 months if this is feasible. This will ensure that the investigation is as thorough as possible and that the right lessons are learned to better protect those who invest their money in the future.</p> answering member printed Lord Young of Cookham grouped question UIN HL16033 HL16035 question first answered 18/06/2019 15:18:13 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1129550

	registered interest
	date	04/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government why the terms of reference for Dame Elizabeth Gloster's inquiry into the circumstances surrounding the collapse of investment firm London Capital & Finance and the Financial Conduct Authority’s supervision of the firm do not include the impact on affected savers.
	tabling member printed	Lord Myners
	uin	HL16035
	answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it. The investigation will look at the events and circumstances surrounding the failure of LCF and whether, in its supervision of LCF, the FCA discharged its functions in a manner which enabled it to effectively fulfil its statutory objectives. Dame Elizabeth will be able to consider any other matters she deems relevant to the events set out in the Treasury’s direction to the FCA.</p><p> </p><p>Dame Elizabeth is an experienced barrister, leading QC and Judge at the High Court and Court of Appeal. The Treasury is satisfied that she will be able to lead a robust and independent investigation.</p><p> </p><p>The Treasury has stipulated that the investigation should be completed within 12 months, whilst allowing the investigator to report sooner than 12 months if this is feasible. This will ensure that the investigation is as thorough as possible and that the right lessons are learned to better protect those who invest their money in the future.</p> answering member printed Lord Young of Cookham grouped question UIN HL16033 HL16034 question first answered 18/06/2019 15:18:13 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1130250

	registered interest
	date	05/06/2019
	answering body	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 whether they have reviewed the market liquidity in the subprime sterling bond market in the context of increased bond issuance.
	tabling member printed	Lord Myners
	uin	HL16111
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p><em>The Financial Policy Committee (FPC) of the Bank of England was set up to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system as part of the new financial regulatory framework legislated for under The Financial Services Act 2012. The FPC set out its most recent assessment of financial stability risks, including from the sterling bond market, in its March 2019 Policy Summary, in which it noted that post-crisis reforms have made dealers, on which some markets rely, more resilient, reducing the probability that market-making losses could lead to their distress or failure. In addition, the FPC noted that during the more recent period of volatility at the end of 2018, pension funds and insurers had acted as net buyers of sterling corporate bonds. Notwithstanding this, new business models mean that liquidity conditions in corporate debt markets could change quickly in event of stress.</em> <em>However, overall the FPC judged that markets had proved able to function effectively through volatile periods, and the strength of the core financial system, including banks, dealers and insurance companies, would support the functioning of markets on which the economy relied.</em></p> answering member printed Lord Young of Cookham question first answered 19/06/2019 16:43:32 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1130252

	registered interest
	date	05/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they will establish an independent review into the FCA’s supervision of Lendy and the actions taken by the FCA once it had raised questions about the firm’s compliance with minimum regulatory standards and disclosure to lenders.
	tabling member printed	Lord Myners
	uin	HL16113
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p>There is an ongoing Financial Conduct Authority (FCA) investigation into the circumstances that have led to the administration of Lendy.</p><p> </p><p>It is important that the FCA rules for P2P lending remain relevant for this evolving sector, and the new rules announced by the FCA on 4 June reflect this. These will help to ensure that investors have the information they need to make effective decisions about P2P investments, without imposing additional costs on borrowers.</p><p> </p> answering member printed Lord Young of Cookham question first answered 19/06/2019 16:39:39 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1130253

	registered interest
	date	05/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages
	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 consequences for depositor protection and financial stability from the number of lenders offering residential property mortgage loans at 95 per cent of value or higher; and what options are open to (1) them, (2) the Bank of England, and (3) the Prudential Regulation Authority, to protect depositors and ensure financial stability.
	tabling member printed	Lord Myners
	uin	HL16114
	answer	answer is ministerial correction date of answer 19/06/2019 answer text <p><em>The Financial Policy Committee (FPC) of the Bank of England was set up to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system as part of the new financial regulatory framework legislated for under The Financial Services Act 2012. The FPC noted in their November 2018 Financial Stability Report that the share of households with high mortgage debt-servicing ratios (DSRs) is close to historical lows. The FPC has powers of direction to place limits on the proportion of new mortgages that a bank can extend at high LTV ratios, if it judges that this is required to mitigate financial stability risks.</em></p><p><em> </em></p><em> </em><p><em>While the Bank therefore has powers to tackle these risks, the Financial Services Compensation Scheme (FSCS), set up by the Government in 2001, also provides a key role in ensuring financial stability and protecting depositors. The FSCS provides deposit protection of up to £85,000 per person, per authorised firm. The Financial Services Markets Act 2000 gives powers to the regulators, including the Prudential Regulation Authority (PRA) to make the rules in which FSCS carries out its compensation function.</em></p><p> </p> answering member printed Lord Young of Cookham question first answered 19/06/2019 16:43:39 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1130844

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	GAM Greensill Supply Chain Finance Fund
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they are investigating, or intend to investigate, the (1) management of, (2) investment valuations used by, and (3) relationships between managers and businesses invested in, the GAM Greensill Supply Chain Finance Fund.
	tabling member printed	Lord Myners
	uin	HL16211
	answer	answer is ministerial correction date of answer 24/06/2019 answer text <p>The Financial Conduct Authority (FCA) is the conduct regulator for the financial services industry in the UK. The FCA will not normally make public the fact that it is or is not investigating a particular matter, in order to protect the effectiveness of any investigation it carries out. The FCA has been made aware of this Parliamentary Question.</p> answering member printed Lord Young of Cookham question first answered 24/06/2019 13:56:34 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1130845

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether, when authorising Lendy, the Financial Conduct Authority (FCA) considered the company to be (1) an agent, or (2) a principal, in the relationship between the lender or borrower; or whether the FCA took no view on this matter.
	tabling member printed	Lord Myners
	uin	HL16212
	answer	answer is ministerial correction date of answer 24/06/2019 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Young of Cookham question first answered 24/06/2019 13:56:52 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1059215

	registered interest
	date	11/02/2019
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Honours Forfeiture Committee
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government on how many occasions the Honours Forfeiture Committee met in each of the last eight calendar years; and when that committee last met.
	tabling member printed	Lord Myners
	uin	HL13601
	answer	answer is ministerial correction date of answer 20/02/2019 answer text <p>Prior to 2017, the Forfeiture Committee met to consider cases on an ad-hoc basis, or by correspondence as business required. The Committee now only meets formally and in person. Since 2017 has met on three occasions, and it last met in September 2018.</p> answering member printed Lord Young of Cookham question first answered 20/02/2019 13:53:44 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1091617

	registered interest
	date	19/03/2019
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Government Efficiency Review
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have, if any, to assess the financial benefits to UK taxpayers that have resulted from the Green Review of public sector procurement, published in October 2010.
	tabling member printed	Lord Myners
	uin	HL14662
	answer	answer is ministerial correction date of answer 26/03/2019 answer text <p>Responding to the findings of the Green Review, HMG took steps to increase efficiency across Government. This included work to enable the UK public sector to get better value from its procurement of common goods and services which is now being taken forward by the Crown Commercial Service.</p><p><strong> </strong></p><p>The Government has published details of savings made through efficiency and reform each year since 2010. The most up-to-date figures are contained in the Crown Commercial Service 2017-18 Annual Report which details £354 million in commercial benefits including savings for central government and £247 million for the wider public sector in that financial year.</p><p> </p> answering member printed Lord Young of Cookham question first answered 26/03/2019 16:49:29 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1091618

	registered interest
	date	19/03/2019
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Honours Forfeiture Committee
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when the Honours Forfeiture Committee is next due to meet.
	tabling member printed	Lord Myners
	uin	HL14663
	answer	answer is ministerial correction date of answer 28/03/2019 answer text <p>We expect the next meeting to be held over the summer.</p> answering member printed Lord Young of Cookham question first answered 28/03/2019 17:26:09 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

677395

	registered interest
	date	23/01/2017
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Macquarie Group
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether any former employees of Macquarie are acting as special advisers, or in an advisory capacity, in (1) Downing Street, (2) the Cabinet Office, or (3) the Department for Business, Energy and Industrial Strategy.
	tabling member printed	Lord Myners
	uin	HL4861
	answer	answer is ministerial correction date of answer 31/01/2017 answer text <p>The information requested is not held centrally and could only be obtained at disproportionate cost.</p> answering member printed Lord Young of Cookham question first answered 31/01/2017 15:53:53 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

713095

	registered interest
	date	21/03/2017
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Advisory Committee on Business Appointments
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they will review the effectiveness of the Advisory Committee on Business Appointments.
	tabling member printed	Lord Myners
	uin	HL6215
	answer	answer is ministerial correction date of answer 03/04/2017 answer text <p>The Government believes that the independent Advisory Committee on Business Appointments discharges its remit effectively and efficiently.</p> answering member printed Lord Young of Cookham question first answered 03/04/2017 14:11:51 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

713697

	registered interest
	date	23/03/2017
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Former Ministers
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether the Advisory Committee on Business Appointments has ever advised a former minister not to accept an appointment.
	tabling member printed	Lord Myners
	uin	HL6294
	answer	answer is ministerial correction date of answer 03/04/2017 answer text <p>The independent Advisory Committee on Business Appointments provides its advice direct to the former Minister in question.</p><p>The Committee’s final advice is published online when an appointment has been taken up and/or publicly announced. Until this point, the process is confidential between the Committee and the former Minister in question, to allow for free and frank discussion.</p><p> </p><p> </p> answering member printed Lord Young of Cookham question first answered 03/04/2017 16:15:09 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

824015

	registered interest
	date	16/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is their definition of the term “public sector contracts” which they are using in connection with employees of Carillion; and whether that definition includes (1) Private Finance Initiative contracts, (2) other types of public-private partnerships, and (3) work for non-departmental public bodies.
	tabling member printed	Lord Myners
	uin	HL4760
	answer	answer is ministerial correction date of answer 29/01/2018 answer text <p>The relevant Carillion contracts are those drawn up under the Public Contracts regulations 2015. These are set out in the Regulations to ensure consistency of understanding and interpretation and be found at: <a href="http://www.legislation.gov.uk/uksi/2015/102/contents/made" target="_blank">http://www.legislation.gov.uk/uksi/2015/102/contents/made</a></p> answering member printed Lord Young of Cookham question first answered 29/01/2018 17:26:15 answering member 57 label Biography information for Lord Young of Cookham attachment 1 file name Public procurement contracts regulations 2015 .pdf title Public procurement contracts regulations 2015
	tabling member	3869 label Biography information for Lord Myners

825301

	registered interest
	date	17/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how many contracts they awarded to Carillion over each of the last three years without open book processes; and what was the value of those contracts.
	tabling member printed	Lord Myners
	uin	HL4834
	answer	answer is ministerial correction date of answer 29/01/2018 answer text <p>Since January 2011, details of central government contracts above the value of £10,000 are published on Contracts Finder. Contracts published prior to 26 February 2015 can be viewed at:</p><p><a href="https://data.gov.uk/data/contracts-finder-archive" target="_blank">https://data.gov.uk/data/contracts-finder-archive</a></p><p> </p><p>Those published after 26 February 2015 can be viewed at:</p><p><a href="https://www.contractsfinder.service.gov.uk/Search" target="_blank">https://www.contractsfinder.service.gov.uk/Search</a></p><p><strong> </strong></p><p>Information on whether or not open book processes were used is not held centrally.</p> answering member printed Lord Young of Cookham question first answered 29/01/2018 17:39:28 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

825302

	registered interest
	date	17/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how much they (1) have paid, and (2) are due to pay, PwC in connection with PwC advising HM Government on the consequences of the failure of Carillion.
	tabling member printed	Lord Myners
	uin	HL4835
	answer	answer is ministerial correction date of answer 31/01/2018 answer text <p>In line with all central Government contracts, details of the work PwC are undertaking will be made available on Contracts Finder in due course.</p> answering member printed Lord Young of Cookham question first answered 31/01/2018 17:47:07 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

825304

	registered interest
	date	17/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they intend to commission an independent review into the granting of government contracts to Carillion after that company declared itself to be in financial difficulty; what assessment they have made of the sufficiency of the attention given to the solvency and liquidity of the company before granting those contracts; and what consideration was given to rules relating to state aid relating to the grant of those contracts.
	tabling member printed	Lord Myners
	uin	HL4837
	answer	answer is ministerial correction date of answer 25/01/2018 answer text <p>Following the news of the collapse of Carillion, the Public Administration and Constitutional Affairs Committee launched an inquiry into how the Government and public sector manages the risks of outsourcing the delivery of public services. The government will fully cooperate with this Inquiry.</p> answering member printed Lord Young of Cookham question first answered 25/01/2018 16:12:44 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

825305

	registered interest
	date	17/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government by whose authority the Crown Representative was removed from Carillion in August 2017; and what assessment they have made of whether there were negative consequences in terms of insight or influence as a result of not having a designated Crown Representative.
	tabling member printed	Lord Myners
	uin	HL4838
	answer	answer is ministerial correction date of answer 29/01/2018 answer text <p>This Government recognises the importance of managing relationships with Strategic Suppliers and their performance on a cross-Government basis, and has developed a range of strategies to do this, including the use of Crown Representatives.</p><p>The role of Crown Representative for Carillion was vacant for three months between August and November 2017 following the retirement of the previous post holder. During this period, the Crown representative responsibilities were covered by the Government’s Chief Commercial officer and the Cabinet Office Director of Markets and Suppliers.</p> answering member printed Lord Young of Cookham question first answered 29/01/2018 17:27:50 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

829049

	registered interest
	date	23/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the answer given by Lord Young of Cookham on 15 January (HL Deb, col 471), which department or government body was responsible for assessing the financial stability of Carillion; and whether the assessment took into consideration the substantial goodwill element within that company's asset base.
	tabling member printed	Lord Myners
	uin	HL5029
	answer	answer is ministerial correction date of answer 06/02/2018 answer text <p>It is the responsibility of individual Contracting Authorities to assess the financial stability of potential suppliers as part of normal procurement activity.</p> answering member printed Lord Young of Cookham question first answered 06/02/2018 14:53:43 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

829051

	registered interest
	date	23/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Crown Representatives
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when they last published a list of Crown Representatives and strategic suppliers; whether the published listed is updated when appointments cease or new ones are made; and if not, when that list will next be published.
	tabling member printed	Lord Myners
	uin	HL5030
	answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>A list of Crown Representatives and strategic suppliers is attached.</p><p>This list is updated periodically.</p><p>Crown representatives are contractors assigned to companies where they have knowledge of the sector, but where there is no conflict with other concurrent roles. They are not political appointees and they have no authority to take procurement decisions.</p> answering member printed Lord Young of Cookham question first answered 01/02/2018 15:26:44 answering member 57 label Biography information for Lord Young of Cookham attachment 1 file name Crown Representatives and Strategic Suppliers- January 2018 .docx title Crown Representatives and Strategic Suppliers
	tabling member	3869 label Biography information for Lord Myners

829052

	registered interest
	date	23/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government who were the Crown Representatives named for Carillion; what was their period of service; and what was their previous relevant experience.
	tabling member printed	Lord Myners
	uin	HL5031
	answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>A list of Crown Representatives and strategic suppliers is attached.</p><p>This list is updated periodically.</p><p>Crown representatives are contractors assigned to companies where they have knowledge of the sector, but where there is no conflict with other concurrent roles. They are not political appointees and they have no authority to take procurement decisions.</p> answering member printed Lord Young of Cookham question first answered 01/02/2018 16:15:26 answering member 57 label Biography information for Lord Young of Cookham attachment 1 file name Crown Representatives and Strategic Suppliers- January 2018 .docx title Crown Representatives and Strategic Suppliers- Jan
	tabling member	3869 label Biography information for Lord Myners

829053

	registered interest
	date	23/01/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the answer by Lord Young of Cookham on 15 January (HL Deb, col 471), whether the joint and several liability that applies to all parties to the six joint venture contracts they let to groups in which Carillion was a shareholder will transition all of Carillion's obligations and liabilities to other joint venture partners without further cost or negative consequence; whether the stress testing of financial capacity of contractors to take on additional government work included an assessment of joint and several underwriting; and whether Carillion was judged capable of taking on the obligations of its joint venture partners if they failed.
	tabling member printed	Lord Myners
	uin	HL5032
	answer	answer is ministerial correction date of answer 06/02/2018 answer text <p>Our Priority is the continuity of public services.</p><p> </p><p>Contractually, the partners to those Joint Ventures are required to deliver the requirements of the Joint Venture if one of the partners fails.</p><p> </p><p>We routinely stress-test contracts to ensure that if one party within a contract fails to deliver, the other parties involved will step in to complete the work. Individual contracts for these Joint Ventures are not held centrally.</p> answering member printed Lord Young of Cookham question first answered 06/02/2018 14:54:24 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

838370

	registered interest
	date	07/02/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Carillion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Young of Cookham on 1 February (HL5031), whether they will now answer the question asked, namely who were the Crown Representatives named for Carillion; what was their period of service; and what was their previous relevant experience.
	tabling member printed	Lord Myners
	uin	HL5492
	answer	answer is ministerial correction date of answer 26/02/2018 answer text <p>​Julie Scattergood was the Crown Representative for Carillion from April 2014 to August 2017.</p><p>We do not publish officials’ CVs. However, we believe she had the necessary qualifications for the appointment.</p> answering member printed Lord Young of Cookham question first answered 26/02/2018 12:16:54 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

997089

	registered interest
	date	29/10/2018
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Government Departments: Procurement
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they intend to commission a review into the benefit of adopting the recommendations on government procurement made in The Efficiency Review by Sir Philip Green, published in 2010.
	tabling member printed	Lord Myners
	uin	HL11093
	answer	answer is ministerial correction date of answer 06/11/2018 answer text <p>We have implemented the key recommendations on public sector procurement made by the Efficiency Review in 2010. There are no current plans to review these recommendations.</p><p> </p><p>However, best practice guidance for public sector procurement is regularly published as procurement policy notes on GOV.UK at the following link:</p><p> </p><p><a href="https://www.gov.uk/government/collections/procurement-policy-notes" target="_blank">https://www.gov.uk/government/collections/procurement-policy-notes</a></p> answering member printed Lord Young of Cookham question first answered 06/11/2018 17:04:55 answering member 57 label Biography information for Lord Young of Cookham
	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

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

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

622475

	registered interest
	date	27/10/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Private Equity
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they intend to review the tax benefits extended to private equity partners by the application of a special rate to carried interest income.
	tabling member printed	Lord Myners
	uin	HL2796
	answer	answer is ministerial correction date of answer 10/11/2016 answer text <p>The Government has taken decisive steps to ensure that asset managers pay their fair share of tax. In Summer Budget 2015, the Government closed loopholes to ensure that asset managers pay the right amount of Capital Gains Tax on their carried interest.</p><p> </p><p>Legislation in the Finance Act 2016 ensures that this carried interest remains subject to a Capital Gains Tax rate of 28% for higher and additional rate tax payers, despite the cut in the main rate of Capital Gains Tax to 20%.</p><p> </p><p>In addition, legislation in the Finance Act 2016 ensures that asset managers engaged in short-term trading activity are subject to income tax on the carried interest they receive, rather than Capital Gains Tax.</p> answering member printed Lord Young of Cookham question first answered 10/11/2016 12:24:20 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

626828

	registered interest
	date	01/11/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Markets
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what directions they have issued to the Financial Conduct Authority's members on the European Securities and Markets Authority concerning representations they should make on the location of central clearing houses and the protocols for offsetting collateral, and how this work is being co-ordinated with the UK’s overall negotiating strategy with the EU.
	tabling member printed	Lord Myners
	uin	HL2906
	answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>The ability to clear financial instruments denominated in different currencies in the same UK clearing house (CCP) brings considerable efficiency savings to customers. UK CCPs are supervised to the highest global standards by the Bank of England and the Government will continue to ensure the UK’s financial industry remains a world leader.</p> answering member printed Lord Young of Cookham question first answered 08/11/2016 15:56:03 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

627552

	registered interest
	date	02/11/2016
	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, further to the Written Answer by Lord Young of Cookham on 25 October (HL2429) about economic forecasting, whether they will now answer the question asked.
	tabling member printed	Lord Myners
	uin	HL2928
	answer	answer is ministerial correction date of answer 14/11/2016 answer text <p>HM Treasury does not produce economic forecasts. As such, there are no forecasts on which to evaluate performance.</p> answering member printed Lord Young of Cookham question first answered 14/11/2016 11:33:00 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

627553

	registered interest
	date	02/11/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	London Stock Exchange: Deutsche Borse
	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 importance of the merger of the London Stock Exchange and the Deutsche Börse being effected through a holding company incorporated and headquartered in the UK.
	tabling member printed	Lord Myners
	uin	HL2929
	answer	answer is ministerial correction date of answer 10/11/2016 answer text <p>I refer the noble Lord to the reply of 26 April, provided by Lord O'Neill of Gatley. Further information about the group’s proposed structure, and the merger process in general, is available on the LSE Group investor relations website.</p><p> </p><p>In addition, once formally notified of the proposed merger, the Bank of England and the Financial Conduct Authority must assess the proposal from a regulatory standpoint.</p> answering member printed Lord Young of Cookham question first answered 10/11/2016 12:25:22 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

651827

	registered interest
	date	05/12/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Debts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what plans they have to address the level of household debt, the rate at which it is increasing, and the multiple it represents of annual household income.
	tabling member printed	Lord Myners
	uin	HL3809
	answer	answer is ministerial correction date of answer 12/12/2016 answer text <p>In Q2 2016 household debt relative to income fell to 142%, down from its peak of 160 percent in Q1 2008. Unsecured debt as a proportion of household income was 39 per cent in Q2 2016, down from a peak of 44 percent in Q1 2007. The government recognises that there is more to be done to help those in problem debt. The Money Advice Service (MAS), an arms-length body of the Treasury coordinates the provision of publicly-funded free to client debt advice. In 2015-2016 MAS had a £75m budget and in that financial year made 300,000 money guidance sessions and 380,000 debt advice sessions available to consumers<strong>. </strong>In October 2016 the government announced plans to bring publicly-funded debt advice, money guidance, and pensions guidance together in a single guidance body, responsible for providing impartial, free-to-client guidance and for promoting financial capability.</p><p> </p><p>Additionally, we have created the independent Financial Policy Committee within the Bank of England, to ensure emerging risks and vulnerabilities across the financial system as a whole, including in relation to household debt, are identified, monitored and effectively addressed.</p> answering member printed Lord Young of Cookham question first answered 12/12/2016 15:11:50 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

651830

	registered interest
	date	05/12/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Mortgages
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they have any plans to regulate further the granting of residential mortgages at high multiples of income.
	tabling member printed	Lord Myners
	uin	HL3812
	answer	answer is ministerial correction date of answer 19/12/2016 answer text <p>The Government has no plans to regulate mortgages at high multiples of income.</p><p> </p><p>The Government has granted the Financial Policy Committee (FPC) powers of direction with regard to owner-occupied mortgages. The Government recently brought forward secondary legislation to grant the FPC powers of direction with regard to buy to let mortgages as well. This instrument has been debated and approved in this House and the other place.</p><p> </p><p>The FPC is a policy committee of the independent Bank of England. It is for the Committee to decide if, when and how to use its powers.</p><p> </p> answering member printed Lord Young of Cookham question first answered 19/12/2016 15:43:31 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners