The Government set the overall allocation policy with the aim of getting the right balance between longer-term, stable investors, retail investors and shorter-term investors who provide liquidity in the market.<\/p>
<\/p>
Allocations were made to a number of institutions who in the early stages of engagement were willing to place non-binding orders despite the risks attached to the IPO such as the industrial relations situation. These investors gave us confidence that there was sufficient demand to proceed with the IPO.<\/p>
<\/p>
We had nearly three-quarters of a million retail applications so their allocations were scaled back as they were for institutional investors. Given this high demand, Ministers decided to prioritise smaller investors and put in place a cut-off above £10,000 and give everyone below that the same number of shares. Around 95% of retail investors were allocated shares.<\/p>
<\/strong><\/p> <\/strong><\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/88", "label" : {"_value" : "Biography information for Sir Michael Fallon"}
}
, "answeringMemberConstituency" : {"_value" : "Sevenoaks"}
, "answeringMemberPrinted" : {"_value" : "Michael Fallon"}
, "dateOfAnswer" : {"_value" : "2014-04-28", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-04-28T12:00:00.00Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "26"}
, "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"}
, "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"}
, "date" : {"_value" : "2014-04-10", "_datatype" : "dateTime"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Business, Innovation and Skills, who made the decisions and on what basis were the decisions made on how many shares would go to each priority investor, each institutional investor and each retail investor in respect of the privatisation of Royal Mail.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/3966", "label" : {"_value" : "Biography information for Ian Murray"}
}
, "tablingMemberConstituency" : {"_value" : "Edinburgh South"}
, "tablingMemberPrinted" : [{"_value" : "Ian Murray"}
], "uin" : "196282"}
, {"_about" : "http://data.parliament.uk/resources/48117", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/48117/answer", "answerText" : {"_value" : " Information on the finances of English Higher Education Institutions (HEIs) is collected and published by the Higher Education Statistics Agency (HESA). A summary of the income of publicly-funded HEIs in England from Home and EU Tuition Fees, Non-EU Tuition Fees, Public Funding and External Sponsorship has been provided in the table.<\/p> <\/p> Income of publicly-funded higher education institutions(1)<\/sup><\/strong><\/p> English Higher Education Institutions<\/p> Academic year 2012/13<\/p> Academic year<\/strong><\/p><\/td> Income Share of Total Income (%)<\/strong><\/p><\/td><\/tr> Total Course Fee Income<\/strong><\/p><\/td> 10,142<\/strong><\/p><\/td> 41.7%<\/strong><\/p><\/td><\/tr> Of which\u2026<\/p><\/td> <\/strong><\/p><\/td> <\/strong><\/p><\/td><\/tr> Home & EU Tuition Fees<\/p><\/td> 6,479<\/p><\/td> 26.6%<\/p><\/td><\/tr> Non-EU Tuition Fees<\/p><\/td> 2,997<\/p><\/td> 12.3%<\/p><\/td><\/tr> Other Tuition Fee Income(2)<\/sup><\/p><\/td> 666<\/p><\/td> 2.7%<\/p><\/td><\/tr> Public Funding (3)<\/sup><\/strong><\/p><\/td> 8,580<\/strong><\/p><\/td> 35.3%<\/strong><\/p><\/td><\/tr> External Sponsorship (4)<\/sup><\/strong><\/p><\/td> 5,598<\/strong><\/p><\/td> 23.0%<\/strong><\/p><\/td><\/tr> Total Income<\/strong><\/p><\/td> 24,320<\/strong><\/p><\/td> 100.0%<\/strong><\/p><\/td><\/tr><\/tbody><\/table> <\/p> <\/p> <\/p> <\/p> <\/p> <\/p> Source: HESA Finance Record<\/em><\/p> Notes:<\/p> All figures are rounded to the nearest £ million and, as a result, columns may not total correctly.<\/p> <\/sup><\/p> (1) <\/sup>The University of Buckingham are the only non-publicly funded HEI to return financial data to HESA and their income has been omitted from the final figures.<\/p> (2) <\/sup>Other Tuition Fee Income includes income received from FE Courses and Non-Credit bearing courses.<\/p> (3) <\/sup>Public Funding refers to funding received from Funding Bodies, BIS Research Councils, UK Central Government, Local Authorities, Health and Hospital Authorities and EU Government Bodies.<\/p> (4) <\/sup>External Sponsorship refers to income from non-public sources including research grants and other income from EU and UK industry, commerce and other corporations.<\/p> <\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/53", "label" : {"_value" : "Biography information for Lord Willetts"}
}
, "answeringMemberConstituency" : {"_value" : "Havant"}
, "answeringMemberPrinted" : {"_value" : "Mr David Willetts"}
, "dateOfAnswer" : {"_value" : "2014-04-28", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-04-28T12:00:00.00Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "26"}
, "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"}
, "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"}
, "date" : {"_value" : "2014-04-10", "_datatype" : "dateTime"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Business, Innovation and Skills, how much in cash terms and what proportion of total university funding came from (a) domestic tuition fees, (b) foreign student fees, (c) public funding and (d) external sponsorship in the last year for which figures are available.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4007", "label" : {"_value" : "Biography information for Dominic Raab"}
}
, "tablingMemberConstituency" : {"_value" : "Esher and Walton"}
, "tablingMemberPrinted" : [{"_value" : "Mr Dominic Raab"}
], "uin" : "196285"}
, {"_about" : "http://data.parliament.uk/resources/48139", "AnsweringBody" : [{"_value" : "Cabinet Office"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/48139/answer", "answerText" : {"_value" : " The information requested falls within the responsibility of the UK Statistics Authority. I have asked the Authority to reply.<\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1561", "label" : {"_value" : "Biography information for Mr Nick Hurd"}
}
, "answeringMemberConstituency" : {"_value" : "Ruislip, Northwood and Pinner"}
, "answeringMemberPrinted" : {"_value" : "Mr Nick Hurd"}
, "attachment" : {"_about" : "http://data.parliament.uk/resources/48139/answer/attachment/1", "fileName" : {"_value" : "PQ196291.pdf"}
, "title" : "ONS Letter - Projected Growth"}
, "dateOfAnswer" : {"_value" : "2014-04-28", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-04-28T12:00:00.00Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "53"}
, "answeringDeptShortName" : {"_value" : "Cabinet Office"}
, "answeringDeptSortName" : {"_value" : "Cabinet Office"}
, "date" : {"_value" : "2014-04-10", "_datatype" : "dateTime"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Minister for the Cabinet Office, what discussions the Office for National Statistics has had with EU counterparts about differences in the way projected growth is estimated.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1409", "label" : {"_value" : "Biography information for Mr Gregory Campbell"}
}
, "tablingMemberConstituency" : {"_value" : "East Londonderry"}
, "tablingMemberPrinted" : [{"_value" : "Mr Gregory Campbell"}
], "uin" : "196291"}
, {"_about" : "http://data.parliament.uk/resources/48145", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/48145/answer", "answerText" : {"_value" : " Estimates of the volume and total revenue losses associated with the tobacco illicit market are published in \u2018Tobacco Tax Gap estimates: 2012-13'. The figures are available in tables 4.1 and 4.5. <\/strong><\/p> <\/p> These estimates cannot be disaggregated by the type of illicit activity, e.g. through smuggling, counterfeiting or other fraud.<\/strong><\/p> <\/p> The methodology for producing the estimates are provided in the \u2018Methodological Annex for Measuring Tax Gaps 2013'.<\/strong><\/p> <\/p> Both documents can be accessed via the following page on the HMRC website:<\/strong><\/p> https://www.gov.uk/government/collections/measuring-tax-gaps<\/a><\/p> <\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4027", "label" : {"_value" : "Biography information for Baroness Morgan of Cotes"}
}
, "answeringMemberConstituency" : {"_value" : "Loughborough"}
, "answeringMemberPrinted" : {"_value" : "Nicky Morgan"}
, "dateOfAnswer" : {"_value" : "2014-04-28", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : {"_value" : "196390"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-04-28T12:00:00.00Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2014-04-10", "_datatype" : "dateTime"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask Mr Chancellor of the Exchequer, what estimate he has made of the loss to the public purse as a result of illicit, illegal and smuggled tobacco in each of the last five years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4066", "label" : {"_value" : "Biography information for Priti Patel"}
}
, "tablingMemberConstituency" : {"_value" : "Witham"}
, "tablingMemberPrinted" : [{"_value" : "Priti Patel"}
], "uin" : "196391"}
, {"_about" : "http://data.parliament.uk/resources/48160", "AnsweringBody" : [{"_value" : "Department for Communities and Local Government"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/48160/answer", "answerText" : {"_value" : " <\/p> The Department does not hold official statistics.<\/p> To assist the preparation and implementation of policy to support self-builders, the Department is examining how best the take-up of self-build can be quantified.<\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4043", "label" : {"_value" : "Biography information for Kris Hopkins"}
}
, "answeringMemberConstituency" : {"_value" : "Keighley"}
, "answeringMemberPrinted" : {"_value" : "Kris Hopkins"}
, "dateOfAnswer" : {"_value" : "2014-04-28", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2014-04-28T12:00:00.00Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "7"}
, "answeringDeptShortName" : {"_value" : "Communities and Local Government"}
, "answeringDeptSortName" : {"_value" : "Communities and Local Government"}
, "date" : {"_value" : "2014-04-10", "_datatype" : "dateTime"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Communities and Local Government, how many homes have been self-built in each of the last eight years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/413", "label" : {"_value" : "Biography information for Hilary Benn"}
}
, "tablingMemberConstituency" : {"_value" : "Leeds Central"}
, "tablingMemberPrinted" : [{"_value" : "Hilary Benn"}
], "uin" : "196286"}
, {"_about" : "http://data.parliament.uk/resources/48166", "AnsweringBody" : [{"_value" : "Department for Communities and Local Government"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/48166/answer", "answerText" : {"_value" : " <\/p> The funding for the troubled families programme does not operate on an \u2018allocation' basis; the programme operates as set out in the financial framework: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/11469/2117840.pdf<\/a><\/p>
(£ millions)<\/strong><\/p><\/td>