The Department has noted several significant share buyback announcements in recent months. These can be undertaken for a variety of reasons such as providing a flexible tool for returning excess cash to shareholders and offsetting dilution arising from the issue of new shares such as those issued to employees under employee share ownership schemes. Buyback activity tends to fluctuate, responding to company-specific and wider economic conditions such as the interest rate environment.<\/p>
<\/p>
The Department commissioned research to further its understanding of longer-term trends in share buybacks, how and why companies make use of them and whether they are being misused to hit performance targets and inflate executive pay. The Department is currently considering this research and will be making an announcement in due course.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4487", "label" : {"_value" : "Biography information for Kelly Tolhurst"} } , "answeringMemberConstituency" : {"_value" : "Rochester and Strood"} , "answeringMemberPrinted" : {"_value" : "Kelly Tolhurst"} , "dateOfAnswer" : {"_value" : "2019-06-05", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "257441"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-05T16:18:38.457Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-05-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Shares: Sales"} , "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, Energy and Industrial Strategy, what assessment his Department has made of recent trends in the use of share buybacks.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/373", "label" : {"_value" : "Biography information for Sir David Davis"} } , "tablingMemberConstituency" : {"_value" : "Haltemprice and Howden"} , "tablingMemberPrinted" : [{"_value" : "Mr David Davis"} ], "uin" : "257440"} , {"_about" : "http://data.parliament.uk/resources/1128430", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1128430/answer", "answerText" : {"_value" : "
The Department has noted several significant share buyback announcements in recent months. These can be undertaken for a variety of reasons such as providing a flexible tool for returning excess cash to shareholders and offsetting dilution arising from the issue of new shares such as those issued to employees under employee share ownership schemes. Buyback activity tends to fluctuate, responding to company-specific and wider economic conditions such as the interest rate environment.<\/p>
<\/p>
The Department commissioned research to further its understanding of longer-term trends in share buybacks, how and why companies make use of them and whether they are being misused to hit performance targets and inflate executive pay. The Department is currently considering this research and will be making an announcement in due course.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4487", "label" : {"_value" : "Biography information for Kelly Tolhurst"} } , "answeringMemberConstituency" : {"_value" : "Rochester and Strood"} , "answeringMemberPrinted" : {"_value" : "Kelly Tolhurst"} , "dateOfAnswer" : {"_value" : "2019-06-05", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "257440"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-06-05T16:18:38.52Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-05-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Shares: Sales"} , "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, Energy and Industrial Strategy, what progress has been made on the research into share buybacks initiated in January 2018.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/373", "label" : {"_value" : "Biography information for Sir David Davis"} } , "tablingMemberConstituency" : {"_value" : "Haltemprice and Howden"} , "tablingMemberPrinted" : [{"_value" : "Mr David Davis"} ], "uin" : "257441"} , {"_about" : "http://data.parliament.uk/resources/1122453", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1122453/answer", "answerText" : {"_value" : "
Research and development is fundamental to improving future living standards, as well as tackling some of the greatest challenges and opportunities, such as those identified in our Industrial Strategy Grand Challenges, which includes Artificial Intelligence (AI) and Data. Through the Industrial Strategy, we have committed to reaching the target of 2.4% of GDP investment in R&D by 2027 and 3% in the longer term, placing us in the top quartile of OECD countries.<\/p>
<\/p>
In April 2018, we announced a Sector Deal between government and industry that will put the UK at the forefront of the AI industry. As part of this, UKRI announced £100m investment in February 2019 in PhDs in AI at 16 new Centres for Doctoral Training based at 14 UK universities. UKRI has also announced four regional workshops to seek input to the current UKRI Review of AI.<\/p>
<\/p>
In advanced computing, my rt. hon. Friend Mr Chancellor of the Exchequer announced £79 million funding for the next national supercomputer, ARCHER2, in the recent Spring Statement. The supercomputer will be hundreds of thousands of times more powerful than a traditional desktop computer and will be used to run massive research simulations. This new resource will be housed at the University of Edinburgh's Advanced Computing Facility at Easter Bush, and will be integral in aiding discoveries in many areas of research including Materials Science, Engineering, Physics and Chemistry and Climate science.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4021", "label" : {"_value" : "Biography information for Chris Skidmore"} } , "answeringMemberConstituency" : {"_value" : "Kingswood"} , "answeringMemberPrinted" : {"_value" : "Chris Skidmore"} , "dateOfAnswer" : {"_value" : "2019-04-29", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-04-29T15:24:27.91Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-04-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Artificial Intelligence and Computers: Research"} , "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, Energy and Industrial Strategy, what recent steps he has taken to support research into advanced computing and artificial intelligence.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/373", "label" : {"_value" : "Biography information for Sir David Davis"} } , "tablingMemberConstituency" : {"_value" : "Haltemprice and Howden"} , "tablingMemberPrinted" : [{"_value" : "Mr David Davis"} ], "uin" : "246446"} , {"_about" : "http://data.parliament.uk/resources/1087117", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1087117/answer", "answerText" : {"_value" : "
The Industrial Strategy is our long-term plan to boost productivity by backing businesses to create high-quality, well paid jobs throughout the United Kingdom, with investment in skills, industries and infrastructure. The Government has to date awarded over £50m to support businesses in Yorkshire and the Humber through the Industrial Strategy Challenge Fund (ISCF), which brings together world-class UK research with business investment to develop the technologies that will transform existing industries and create entirely new ones. For example, we are investing in ITM Power (Trading) Ltd in Sheffield to demonstrate the feasibility of a hydrogen economy in remote areas.<\/p>
Also, since its launch in 2012, the Start-Up Loans programme, part of the British Business Bank, has delivered more than 5,200 loans, totalling £42.690m in Yorkshire and the Humber.<\/p>
The Government is also investing over £1.3 billion through Yorkshire and Humber Local Enterprise Partnership Growth Deals and has established Enterprise Zones across the region, which are both supporting the creation of higher skilled jobs such as Siemens\u2019 offshore wind blade factory in Hull and at the Humber Enterprise Park in Brough.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4487", "label" : {"_value" : "Biography information for Kelly Tolhurst"} } , "answeringMemberConstituency" : {"_value" : "Rochester and Strood"} , "answeringMemberPrinted" : {"_value" : "Kelly Tolhurst"} , "dateOfAnswer" : {"_value" : "2019-03-22", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-03-22T12:37:04.093Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "201"} , "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"} , "date" : {"_value" : "2019-03-12", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Job Creation: Yorkshire and the Humber"} , "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, Energy and Industrial Strategy, what recent steps his Department has taken to help businesses create more highly skilled jobs in Yorkshire and the Humber.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/373", "label" : {"_value" : "Biography information for Sir David Davis"} } , "tablingMemberConstituency" : {"_value" : "Haltemprice and Howden"} , "tablingMemberPrinted" : [{"_value" : "Mr David Davis"} ], "uin" : "231364"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 4, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }