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1604981

	registered interest
	date	16/03/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	British Patient Capital
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, with reference to paragraph 4.114 of the Spring Budget 2023, HC1183, published on 15 March 2023, how much (a) new and (b) total funding has been allocated for British Patient Capital each financial year for the next five years.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	167104
	answer	answer is ministerial correction date of answer 23/03/2023 answer text <p>British Patient Capital (BPC) was created in 2018 following the Patient Capital Review, and allocated £2.5 billion to invest over the ten years to 2028/29. In July 2021, it was allocated a further £375m to deliver the Future Fund: Breakthrough programme and £200m to deliver the Life Sciences Investment Programme (LSIP). As at 31 March 2022, total value of all commitments and co-investments reached £1.6bn across 61 fund commitments, four co-investments from BPC’s Core programme, and five Future Fund: Breakthrough deals. At Spring Budget 2023, BPC’s mandate was extended until 2033/34.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 23/03/2023 15:47:19 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1604983

	registered interest
	date	16/03/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	British Patient Capital
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, what discussions she has had with (a) British Patient Capital and (b) The Secretary of State for Science, Innovation and Technology on the investment of British Patient Capital in the five critical technologies identified in the Science and Technology Framework.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	167106
	answer	answer is ministerial correction date of answer 24/03/2023 answer text <p>There are regular discussions between relevant ministers, officials and British Patient Capital (BPC) on supporting research and development (R&amp;D)-intensive companies, including those in the five technologies identified in the Science and Technology Framework. BPC’s Core programme disproportionately supports R&amp;D-intensive companies. 11% of firms receiving BPC-backed investment are academic spinouts, compared to 2% of all equity-backed companies. 92% of companies surveyed for an external evaluation of BPC used the investment they received to fund R&amp;D activities. BPC’s Future Fund: Breakthrough programme has directly invested £101m into fifteen companies. At Spring Budget 2023, it was announced that BPC would increase its focus on R&amp;D-intensive industries.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 24/03/2023 12:11:37 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1611522

	registered interest
	date	17/04/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	Cosmetics: Sodium Hydroxide
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, whether her Department has made an assessment of the impact of hair relaxers containing lye on (a) the health of black women and (b) associated health outcomes and inequalities experienced by black women.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	181150
	answer	answer is ministerial correction date of answer 24/04/2023 answer text <p>An assessment of the impact of hair relaxers containing lye on the health of, or associated health outcomes experienced by, black women has not been undertaken by the Department.</p><p> </p><p>Lye is already a restricted substance under annex III of the Cosmetics Regulations 2009. There are specific rules in place both for general and professional use of cosmetic products containing this ingredient.</p><p> </p><p>The Office for Product Safety and Standards, in its role as the regulator for cosmetic products, often commissions scientific assessment of the safety of chemicals. If new evidence becomes available, the Government will take the appropriate action to ensure the safety of consumers.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 24/04/2023 13:46:36 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1611651

	registered interest
	date	18/04/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	Cosmetics: Sodium Hydroxide
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, if his Department will take steps to ensure that manufacturers cannot label hair relaxers as containing no-lye if they include sodium hydroxide in the ingredients list; and if he will make an assessment of the prevalence of this practice.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	181195
	answer	answer is ministerial correction date of answer 25/04/2023 answer text <p>The Cosmetic Regulations state that a cosmetic product can not imply that the product has a characteristic or function which it does not have. Additionally, it requires products to include a full list of ingredients on the product’s label. Lye is the common name for sodium hydroxide. To be compliant with the regulations a product that contains lye as an ingredient must include this information on the label.</p><p> </p><p>The Office for Product Safety and Standards, in its role as the regulator for cosmetic products, will take appropriate action to ensure the safety of consumers should non-compliance with the Cosmetic Regulations be identified.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 25/04/2023 10:29:10 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1641965

	registered interest
	date	05/06/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	Equal Pay: Ethnic Groups
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, pursuant to the Answer of 24 April 2023 to Question 181548 on Equal Pay: Ethnic Groups, if she will provide instances in which ethnicity pay gap reporting may be inappropriate for tackling disparities in employment.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	187647
	answer	answer is ministerial correction date of answer 14/06/2023 answer text <p>In April 2023 the Government published guidance to employers on voluntary ethnicity pay reporting.</p><p> </p><p>As the guidance explains, ethnicity pay reporting is a complex measure and can be affected by many factors meaning it is easy for the data to be misinterpreted or misunderstood. One reason for this is that, while gender pay analysis involves a comparison between two groups, ethnicity pay analysis can potentially involve many more ethnic groups. Additionally, employers may also have to decide how to best combine different ethnic groups to ensure both reliable results and protect confidentiality.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 14/06/2023 12:51:45 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1646056

	registered interest
	date	20/06/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	Investment: Codes of Practice
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, whether she has made an assessment of the potential merits of updating the UK Stewardship Code 2020 to reflect the actions of signatories after it has been signed.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	190365
	answer	answer is ministerial correction date of answer 26/06/2023 answer text <p>The Financial Reporting Council (FRC) sets the UK Stewardship Code and revised it in 2020 to promote better reporting on stewardship outcomes. Research in 2022 found strong evidence of positive changes in stewardship practice under the revised Code. Signatories to the Code have to submit a new report each year to maintain their signatory status.</p><p> </p><p>The FRC’s terms and conditions for the Stewardship Code outline the circumstances in which the FRC may remove an organisation from the list of signatories, including provision of information which is later discovered to be false or inaccurate, or investigation by a regulatory body.</p><p> </p><p>From this autumn, the FRC plans to work with the Financial Conduct Authority, the Department for Work and Pensions and the Pensions Regulator to review the regulatory framework for stewardship, including the operation of the Stewardship Code. The review will assess how far the Code is creating a market for effective stewardship and the need for any further regulation in this area.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake grouped question UIN 190366 question first answered 26/06/2023 12:08:23 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1646057

	registered interest
	date	20/06/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	Investment: Codes of Practice
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, what steps her Department is taking to strengthen the UK Stewardship Code 2020.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	190366
	answer	answer is ministerial correction date of answer 26/06/2023 answer text <p>The Financial Reporting Council (FRC) sets the UK Stewardship Code and revised it in 2020 to promote better reporting on stewardship outcomes. Research in 2022 found strong evidence of positive changes in stewardship practice under the revised Code. Signatories to the Code have to submit a new report each year to maintain their signatory status.</p><p> </p><p>The FRC’s terms and conditions for the Stewardship Code outline the circumstances in which the FRC may remove an organisation from the list of signatories, including provision of information which is later discovered to be false or inaccurate, or investigation by a regulatory body.</p><p> </p><p>From this autumn, the FRC plans to work with the Financial Conduct Authority, the Department for Work and Pensions and the Pensions Regulator to review the regulatory framework for stewardship, including the operation of the Stewardship Code. The review will assess how far the Code is creating a market for effective stewardship and the need for any further regulation in this area.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake grouped question UIN 190365 question first answered 26/06/2023 12:08:23 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1646058

	registered interest
	date	20/06/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	Audit, Reporting and Governance Authority
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, when she plans to publish draft legislation to establish the Audit, Reporting and Governance Authority.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	190367
	answer	answer is ministerial correction date of answer 28/06/2023 answer text <p>The Government has not set a date for publication of draft legislation relating to the establishment of the Audit, Reporting and Governance Authority. The Government is committed to legislating when Parliamentary time allows.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 28/06/2023 14:38:20 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1646059

	registered interest
	date	20/06/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	Investment: Codes of Practice
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, what assessment she has made of the implications for her policies of the application by Vanguard Asset Management Ltd to be admitted to the UK Stewardship Code 2020; and whether she has had discussions with the Financial Reporting Council on this issue.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	190368
	answer	answer is ministerial correction date of answer 26/06/2023 answer text <p>The Financial Reporting Council (FRC) sets the UK Stewardship Code and has an independent and robust process to ensure that each applicant seeking to or remain a Code signatory has sufficiently demonstrated how they have applied the Principles of the Code. As part of this, signatories must report annually on how they have followed the Code and these reports are reviewed by the FRC.</p><p> </p><p>The FRC does not comment on individual applicants or signatories to the Stewardship Code.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 26/06/2023 12:03:18 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah

1646290

	registered interest
	date	21/06/2023
	answering body	Department for Business and Trade
	answering dept id	214
	answering dept short name	Business and Trade
	answering dept sort name	Business and Trade
	hansard heading	Vanguard
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Secretary of State for Business and Trade, what assessment she had made of the potential implication for her policies of Vanguard Group Inc's decision to rescind on its commitments to Net Zero 2050 targets in the context of that Group being a signatory to the Stewardship Code.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	190751
	answer	answer is ministerial correction date of answer 29/06/2023 answer text <p>The UK Stewardship Code sets high standards for stewardship practice and disclosure. Signatories must explain their approaches to investment, including with regard to systemic risks such as climate change, and report annually on the outcome of their stewardship activities. It is for individual companies to decide which initiatives or commitments they pledge to fulfil. The Code does not require signatories to be committed to specific initiatives or targets. The Government welcomes the continued growth of the UN-convened Net Zero Asset Managers Alliance, which now has 301 signatories representing $59 trillion assets under management.</p> answering member constituency Thirsk and Malton answering member printed Kevin Hollinrake question first answered 29/06/2023 14:15:00 answering member 4474 label Biography information for Kevin Hollinrake
	tabling member	4124 label Biography information for Chi Onwurah