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384641
star this property registered interest false more like this
star this property date less than 2015-06-22more like thismore than 2015-06-22
star this property answering body
HM Treasury remove filter
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 Treasury more like this
unstar this property hansard heading Royal Bank of Scotland 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 the Answer of 16 June 2015 to Question 900337, from which bodies he has commissioned advice on the sale of 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
star this property uin 3514 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 2015-06-25more like thismore than 2015-06-25
star this property answer text <p>In announcing the sale of the Government’s shareholding in Royal Bank of Scotland, the Chancellor is acting on independent advice from the Governor of the Bank of England and a report from Rothschild investment bank that it is in the public interest for the Government to begin now to sell its stake. The report by Rothschild, and the corresponding advice from the Governor, are both available online at <a href="http://www.gov.uk/" target="_blank">www.gov.uk</a>.</p><p> </p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin more like this
star this property grouped question UIN 3587 more like this
star this property question first answered
less than 2015-06-25T14:51:44.683Zmore like thismore than 2015-06-25T14:51:44.683Z
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
384642
star this property registered interest false more like this
star this property date less than 2015-06-22more like thismore than 2015-06-22
star this property answering body
HM Treasury remove filter
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 Treasury more like this
unstar this property hansard heading Royal Bank of Scotland 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 impact assessment he conducted of (a) the reprivatisation of RBS and (b) any other policy options for the future of RBS before the commissioning of the Rothschild Review into the UK Investment in 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
star this property uin 3499 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 2015-06-25more like thismore than 2015-06-25
star this property answer text <p>The Government has been consistent and clear that its objective in respect of RBS ownership is to return the bank to the private sector in full.</p><p> </p><p> </p><p> </p><p>This policy is supported by recent advice from the Governor of the Bank of England that “it is in the public interest for the Government to begin now to return RBS to the private sector”, and that “there could be considerable net costs to taxpayers of further delaying the start of a sale”. The findings of the recently published Rothschild report into the Government’s shareholding in RBS concur with this assessment.</p><p> </p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin more like this
star this property question first answered
less than 2015-06-25T14:44:54.307Zmore like thisremove minimum value filter
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
384644
star this property registered interest false more like this
star this property date less than 2015-06-22more like thismore than 2015-06-22
star this property answering body
HM Treasury remove filter
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 Treasury more like this
unstar this property hansard heading Royal Bank of Scotland 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 the Answer of 16 June 2015 to Question 900337, what estimate has been made (a) by the Governor of the Bank of England and (b) from Rothschild of the effect on the public purse of the sale of the Government's 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
star this property uin 3587 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 2015-06-25more like thismore than 2015-06-25
star this property answer text <p>In announcing the sale of the Government’s shareholding in Royal Bank of Scotland, the Chancellor is acting on independent advice from the Governor of the Bank of England and a report from Rothschild investment bank that it is in the public interest for the Government to begin now to sell its stake. The report by Rothschild, and the corresponding advice from the Governor, are both available online at <a href="http://www.gov.uk/" target="_blank">www.gov.uk</a>.</p><p> </p> more like this
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin more like this
star this property grouped question UIN 3514 more like this
star this property question first answered
less than 2015-06-25T14:51:44.773Zmore like thismore than 2015-06-25T14:51:44.773Z
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
384869
star this property registered interest false more like this
star this property date less than 2015-06-23more like thismore than 2015-06-23
star this property answering body
HM Treasury remove filter
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 Treasury more like this
unstar this property hansard heading Royal Bank of Scotland 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 the oral statement by the Economic Secretary to the Treasury of 11 June 2015, Official Report, column 1373, what the evidence base is for his statement that the Royal Bank of Scotland has not been able to play its full part in small and medium-sized enterprise lending because of public ownership. 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
star this property uin 3794 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 2015-06-30more like thismore than 2015-06-30
star this property answer text <p>The Chancellor has previously set out his objectives for the banks in state ownership, including Royal Bank of Scotland. We want to maximise the ability of these important banks to support the British economy, and we want to get the best value for money for the taxpayer.</p><p> </p><p> </p><p> </p><p>Large scale public ownership has an inhibiting effect on the involvement of private institutions in a company such as RBS, and therefore naturally impacts on broader commercial performance. The best way to deliver our objectives is to return RBS to private ownership. Commercial organisations are more efficient, more innovative and more effective when they are in the private sector.</p><p> </p><p> </p><p> </p><p>This policy is supported by advice from the Governor of the Bank of England and independent analysis from Rothschild investment bank. In their recent report into this issue, Rothschild note that by starting to sell down its stake in RBS, “the Government can bring about broader benefits for the institution, which could help to accelerate its recovery”, as well as improving the share price and securing value for the taxpayer.</p><p> </p>
star this property answering member constituency West Worcestershire more like this
star this property answering member printed Harriett Baldwin more like this
star this property question first answered
less than 2015-06-30T14:20:21.953Zmore like thismore than 2015-06-30T14:20:21.953Z
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
428352
star this property registered interest false more like this
star this property date less than 2015-11-16more like thismore than 2015-11-16
star this property answering body
HM Treasury remove filter
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 Productivity 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 is taking to ensure that an approach supply of finance to productive investment is available to help increase productivity. 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
star this property uin 16397 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 2015-11-19more like thismore than 2015-11-19
star this property answer text <p>The government is committed to boosting productivity growth and narrowing the gap with other leading advanced economies. In July 2015 the government published ‘Fixing the Foundations: Creating a more prosperous nation’; a comprehensive plan that sets the agenda to reverse the UK’s long-term productivity problem.</p><br /><p>The financial services sector has a dual role in supporting UK productivity. As well as its own productivity performance, it is critical for supporting the rest of the economy, allocating resources and facilitating long term productive investment. In the latest remit letter to the Financial Policy Committee of the Bank of England, the Chancellor highlighted the importance of a stable financial system providing finance for productive investment.</p><br /><p>To promote the provision of finance to support productive investment, it is important that it can be measured accurately. The Bank of England, working with HM Treasury, have initiated research to create a better measurement of ‘finance for productive investment’ covering all asset classes and all stages of finance, with a view to publishing the data on a regular basis.</p><br />
star this property answering member constituency Chelsea and Fulham more like this
star this property answering member printed Greg Hands more like this
star this property question first answered
less than 2015-11-19T16:48:39.523Zmore like thismore than 2015-11-19T16:48:39.523Z
star this property answering member
1526
star this property label Biography information for Greg Hands more like this
star this property tabling member
4493
star this property label Biography information for Richard Burgon remove filter
433919
star this property registered interest false more like this
star this property date less than 2015-12-03more like thismore than 2015-12-03
star this property answering body
HM Treasury remove filter
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
star 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 more like this
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 thismore than 2015-12-03
star this property answering body
HM Treasury remove filter
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
star 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 more like this
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 thismore than 2015-12-03
star this property answering body
HM Treasury remove filter
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
star 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 more like this
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 remove filter
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
star 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 more like this
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 remove filter
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
star 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 more like this
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