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433919
star this property registered interest false more like this
star this property date less than 2015-12-03more like thisremove minimum value filter
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Granite more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, whether he took the National Crime Agency investigation into the Project Eagle loan sale by Ireland's National Asset Management Agency to Cerberus into account in decisions on the sale of UK Asset Resolutions' Granite Portfolio to Cerberus. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 18744 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2015-12-08more like thismore than 2015-12-08
star this property answer text <p>Cerberus was selected as the successful bidder for UK Asset Resolution (UKAR)’s Granite portfolio following a thorough due diligence process. Cerberus have confirmed to UKAR that their involvement in the Project Eagle loan sale was conducted with the utmost integrity; and have separately provided a detailed submission to the Northern Ireland Committee on Finance and Personnel, which conducted a full enquiry into the sale.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property question first answered
less than 2015-12-08T14:51:54.39Zmore like thismore than 2015-12-08T14:51:54.39Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
433920
star this property registered interest false more like this
star this property date less than 2015-12-03more like thisremove minimum value filter
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Granite more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what steps the Government has taken to ensure that former Northern Rock mortgage holders will not be disadvantaged by the sale of UK Asset Resolutions' Granite Portfolio to Cerberus. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 18745 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2015-12-08more like thismore than 2015-12-08
star this property answer text <p>A key consideration in the selection of the successful bidder was the continued fair treatment of customers. Cerberus was selected following a thorough due diligence process, and like any buyer, remains subject to the regulatory oversight of the Financial Conduct Authority; including the requirement of Treating Customers Fairly.</p><br /><p>Day-to-day management of the assets within the Granite portfolio will remain with the mortgage servicing arm of UK Asset Resolution, and there will be no changes to the terms and conditions of the mortgages involved in the transaction.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property question first answered
less than 2015-12-08T14:52:42.457Zmore like thismore than 2015-12-08T14:52:42.457Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
433925
star this property registered interest false more like this
star this property date less than 2015-12-03more like thisremove minimum value filter
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Granite more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, when the book value of the UK Asset Resolution's Granite portfolio was last calculated prior to the sale of Cerberus on 13 November 2015. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 18761 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2015-12-08more like thismore than 2015-12-08
star this property answer text <p>In line with UK Asset Resolution (UKAR)'s reporting cycle, the book value of the Granite portfolio was last calculated at 30 September 2015 as part of the Interim Financial Results process.</p><br /> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property question first answered
less than 2015-12-08T14:48:05.283Zmore like thismore than 2015-12-08T14:48:05.283Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
437345
star this property registered interest false more like this
star this property date less than 2015-12-11more like thismore than 2015-12-11
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Lloyds Banking Group more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, pursuant to his Written Statement of 2 June 2015, HCWS10, on the trading plan for government shares in Lloyds Banking Group, whether he set a target for the (a) number of shares to be sold and (b) price per share for Lloyds Banking Group at the time of that Statement. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 19699 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2015-12-17more like thismore than 2015-12-17
star this property answer text <p>In December 2014 the Chancellor launched a trading plan to sell the Government’s stake in Lloyds Banking Group, which has since been extended twice; in June and December 2015. The number of shares sold over the course of the trading plan is subject to an overall volume limit of up to but no more than 15% of the aggregate total trading volume in the LBG over the duration of the trading plan.</p><p>The final amount sold will depend on market conditions, among other factors. Shares will not be sold below the average price the previous government paid for them, which was 73.6p.</p><br /><p>As outlined to the House at the time of the trading plan’s launch, a statement with further details will be laid before Parliament when the plan concludes.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property grouped question UIN 19752 more like this
star this property question first answered
less than 2015-12-17T12:45:20.743Zmore like thismore than 2015-12-17T12:45:20.743Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
437347
star this property registered interest false more like this
star this property date less than 2015-12-11more like thismore than 2015-12-11
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Lloyds Banking Group more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, with reference to his Department's announcement on Government shares in Lloyds Banking Group, published on 18 December 2014, whether he had set a target for the (a) number of shares to be sold and (b) price per share for Lloyds Banking Group at the time of that announcement. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 19752 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2015-12-17more like thismore than 2015-12-17
star this property answer text <p>In December 2014 the Chancellor launched a trading plan to sell the Government’s stake in Lloyds Banking Group, which has since been extended twice; in June and December 2015. The number of shares sold over the course of the trading plan is subject to an overall volume limit of up to but no more than 15% of the aggregate total trading volume in the LBG over the duration of the trading plan.</p><p>The final amount sold will depend on market conditions, among other factors. Shares will not be sold below the average price the previous government paid for them, which was 73.6p.</p><br /><p>As outlined to the House at the time of the trading plan’s launch, a statement with further details will be laid before Parliament when the plan concludes.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property grouped question UIN 19699 more like this
star this property question first answered
less than 2015-12-17T12:45:20.79Zmore like thismore than 2015-12-17T12:45:20.79Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
438866
star this property registered interest false more like this
star this property date less than 2015-12-16more like thismore than 2015-12-16
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Royal Bank of Scotland: Government Shareholding more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what advice UKFI provided to his Department on when and how to complete a sale of Royal Bank of Scotland shares. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 20481 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2016-01-05more like thismore than 2016-01-05
star this property answer text <p>The Government has been consistently clear that its policy in respect of Royal Bank of Scotland (RBS) is to return the bank to the private sector in full. The advice received from Rothschilds and the Governor of the Bank of England relates specifically to the appropriate timing of an initial share sale.</p><br /><p>UK Financial Investments (UKFI) is responsible for the execution of share sales, and advised the Chancellor in August 2015 that it would be appropriate to conduct the first sale of the Government’s shareholding in RBS. On 3 August 2015, UKFI sold approximately 5.4% of the bank via an accelerated bookbuilding process.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property grouped question UIN 20482 more like this
star this property question first answered
less than 2016-01-05T14:06:09.96Zmore like thismore than 2016-01-05T14:06:09.96Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
438868
star this property registered interest false more like this
star this property date less than 2015-12-16more like thismore than 2015-12-16
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Royal Bank of Scotland: Government Shareholding more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, which organisations in addition to Rothschilds and the Governor of the Bank of England provided him with advice on whether the Government should sell its stake in the Royal Bank of Scotland. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 20482 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2016-01-05more like thismore than 2016-01-05
star this property answer text <p>The Government has been consistently clear that its policy in respect of Royal Bank of Scotland (RBS) is to return the bank to the private sector in full. The advice received from Rothschilds and the Governor of the Bank of England relates specifically to the appropriate timing of an initial share sale.</p><br /><p>UK Financial Investments (UKFI) is responsible for the execution of share sales, and advised the Chancellor in August 2015 that it would be appropriate to conduct the first sale of the Government’s shareholding in RBS. On 3 August 2015, UKFI sold approximately 5.4% of the bank via an accelerated bookbuilding process.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property grouped question UIN 20481 more like this
star this property question first answered
less than 2016-01-05T14:06:09.897Zmore like thismore than 2016-01-05T14:06:09.897Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
453064
star this property registered interest false more like this
star this property date less than 2016-02-19more like thismore than 2016-02-19
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Banks more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what assessment he has made of the implications for the effectiveness of the ring-fence between retail and investment banking of the Prudential Regulation Authority's proposal to allow ring-fenced bodies to pay dividends to other entities in the parent group. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 27453 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2016-02-29more like thismore than 2016-02-29
star this property answer text <p>The Prudential Regulation Authority's (PRA) proposed rules allowing ring-fenced bodies to pay dividends to other entities in the parent group are entirely consistent with the ring-fencing legislation and the Independent Commission on Banking’s recommendations. The PRA has the power to prevent these payments if they deem that they would negatively impact on the viability of the ring-fenced bank.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property question first answered
less than 2016-02-29T15:52:53.25Zmore like thismore than 2016-02-29T15:52:53.25Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
453065
star this property registered interest false more like this
star this property date less than 2016-02-19more like thismore than 2016-02-19
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Banks more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what meetings (a) Ministers and (b) officials of his Department have had on the implementation of the ring-fence between retail and investment banking since May 2015. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 27454 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2016-02-29more like thismore than 2016-02-29
star this property answer text <p>Since May 2015, in order to ensure the smooth implementation of ring-fencing, ministers and HMT officials have met with regulators, banks, banking organisations, trustees of bank pension funds and HMRC.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property question first answered
less than 2016-02-29T15:53:26.267Zmore like thismore than 2016-02-29T15:53:26.267Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
453066
star this property registered interest false more like this
star this property date less than 2016-02-19more like thismore than 2016-02-19
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
unstar this property hansard heading Financial Services more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what assessment he has made of the implications for financial system resilience of the Prudential Regulation Authority's proposed rules on ringfencing; and if he will make a statement. more like this
star this property tabling member constituency Leeds East more like this
star this property tabling member printed
Richard Burgon more like this
unstar this property uin 27449 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2016-02-29more like thismore than 2016-02-29
star this property answer text <p>The Government is confident that the Prudential Regulation Authority's proposed rules on ring-fencing are beneficial for financial system resilience. These are fully consistent with the Banking Reform Act (2013), and are necessary to ensure the full and timely implementation of the legislation.</p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin remove filter
star this property question first answered
less than 2016-02-29T15:46:33.903Zmore like thismore than 2016-02-29T15:46:33.903Z
star this property answering member
4107
star this property label Biography information for Harriett Baldwin more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter