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1228225

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Carillion: Audit
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether (1) KPMG, and (2) the Institute of Chartered Accountants in England and Wales, are involved in any of their work dealing with international accounting standards and dividends payments; and if so, what assessment they have made of whether such involvement is appropriate in the light of reports that the Official Receiver is seeking to take action against KPMG over alleged negligence in its audits of Carillion.
tabling member printed	Baroness Bowles of Berkhamsted
uin	HL7505
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>The Government announced as part of its response to the consultation on Insolvency and Corporate Governance that it would look further at options for strengthening of the legal framework governing dividend payments in a proportionate way. In that context, the Department asked the ICAEW for technical advice on ways in which potential new distributable reserves disclosure requirements might be framed. The ICAEW was also asked to consider how its Guidance on Realised and Distributable Profits (Tech 02/17BL) might be simplified and clarified. It has subsequently published an Introduction to the Law on Dividends which includes an explanation of the role and content of its technical guidance.</p><p> </p><p> </p><p>The Government believes that it is appropriate to receive views and advice on accountancy matters from a wide and balanced range of expert stakeholders including the ICAEW and KPMG. In relation to international accounting standards, members of KPMG and ICAEW have attended meetings and have input into discussions and consultations since the standards were introduced in the UK.</p><p> </p><p> </p><p>Consistent with his duties as a liquidator, the Official Receiver has investigated whether Carillion may have a claim against KPMG for losses resulting from the conduct of its statutory audit and is considering pursuing a claim in this regard. It would be inappropriate to comment further at this stage.</p> answering member printed Lord Callanan question first answered 06/08/2020 11:44:47 answering member 4336 label Biography information for Lord Callanan
tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1228226

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Accountancy: Standards
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the consistency of the use of current market values in company accounts with the preparation of accounts on a going concern basis; and what assessment they have made of the adequacy of international accounting standards on current market values, following the collapse of companies such as Carillion and Thomas Cook which applied these standards.
tabling member printed	Baroness Bowles of Berkhamsted
uin	HL7506
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>BEIS and the FRC are responsible for UK accounting standards as set out in the Companies Act 2006. The FRC’s Accounting and Reporting Policy Team’s remit is to follow and comment on the work of the IASB as it develops IFRS. The FRC regularly discuss improvements and amendments to standards with the IASB and responds to consultations in the light of discussions with stakeholders.</p><p> </p><p>At the end of the Transition Period, the UK Endorsement Board (UKEB) will work directly with IASB as part of their responsibilities for endorsing and adopting IFRS for the UK. One of the key responsibilities of the UKEB will be to ensure that adopting IFRS are in the UK’s public interest.</p><p> </p><p>The investigations into Carillion and Thomas Cook are ongoing. We will consider the outcome of these investigations and where necessary bring findings to the attention of the IASB.</p> answering member printed Lord Callanan question first answered 06/08/2020 11:44:05 answering member 4336 label Biography information for Lord Callanan
tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1228227

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Accountancy: Standards
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made, if any, of the probity of the International Financial Reporting Standards Foundation following the case of ZAO Askeri-ACCA v International Accounting Standards Committee Foundations ([2004] EWHC 2939 (Ch)); and what plans they have to conclude such an assessment before committing any taxpayer funds to the International Financial Reporting Standards Foundation.
tabling member printed	Baroness Bowles of Berkhamsted
uin	HL7507
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>The Government is discussing a license agreement for International Financial Reporting Standards (IFRS) with the IFRS Foundation. We are content that we will be able to conclude a legally satisfactory agreement. This is in line with the Government’s commitment to maintain use of IFRS after the end of the Transition Period.</p><p> </p><p>The case of ZAO Askeri-ACCA v International Accounting Standards Committee Foundations ([2004] EWHC 2939 (Ch)) was heard 16 years ago regarding a contract with the IFRS Foundation’s predecessor organisation. The Government does not believe this case to be relevant to any discussions between the Government and the IFRS Foundation.</p> answering member printed Lord Callanan question first answered 06/08/2020 11:43:17 answering member 4336 label Biography information for Lord Callanan
tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1228228

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Accountancy: Standards
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to conduct an investigation into (1) past inconsistencies in the registered addresses and the address for legal service of documents of the International Financial Reporting Standards Foundation, and (2) alleged conflicts of interest in the award of the International Financial Reporting Standards Foundation’s translation contracts, before committing any tax-payer funds to that Foundation.
tabling member printed	Baroness Bowles of Berkhamsted
uin	HL7508
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>Companies House records show that the IFRS Foundation is registered in Delaware and based in London. The Government hopes that the IFRS Foundation will continue to be based in London, as this will continue to recognise the UK’s world leading role in accounting standards and practice. The Government has no oversight role for the IFRS Foundation, which is the responsibility of its Monitoring Board, comprising of a number of international securities regulators.</p><p> </p><p>The Government is not aware of any alleged conflicts of interest that are referred to in the question.</p> answering member printed Lord Callanan question first answered 06/08/2020 11:42:25 answering member 4336 label Biography information for Lord Callanan
tabling member	4562 label Biography information for Baroness Bowles of Berkhamsted

1228251

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Hydrogen: Renewable Energy
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how much, in total, they have committed to the development of a green hydrogen economy over the next five years.
tabling member printed	Lord Oates
uin	HL7548
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>The Government is committed to exploring the option of hydrogen as a strategic decarbonised energy carrier. This includes business models to support the deployment of, and investment in, low carbon hydrogen production and a £100m Low Carbon Hydrogen Production Fund, announced in August 2019 to stimulate capital investment. In parallel we are currently investing up to £121 million, between 2015 and 2021, in hydrogen innovation, supporting a range of projects exploring the potential of low carbon hydrogen across the value chain. This includes investment in green hydrogen both through innovation funding and other grants. An example is our support for the industrialisation of production processes at the new ITM Power Gigafactory being built in Sheffield which when complete will be the largest electrolyser manufacturing facility in the world.</p><p> </p><p>The Treasury has recently announced the Comprehensive Spending Review 2020, that will allow the government to consider its priorities across all spending over multiple years. Support to develop technologies that will support the government’s ambition to reach net zero carbon emissions by 2050 is a priority.</p> answering member printed Lord Callanan question first answered 06/08/2020 11:40:58 answering member 4336 label Biography information for Lord Callanan
tabling member	4549 label Biography information for Lord Oates

1228270

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	UK Internal Trade: Advisory Bodies
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to include (1) citizen, and (2) business, particularly small independent business, representation on the independent advisory body referred to in the UK Internal Market White Paper published in July, to report to Parliament on the functioning of that Internal Market.
tabling member printed	Baroness Bennett of Manor Castle
uin	HL7502
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>The White Paper sets out proposals for independent functions to support the smooth running of the Internal Market. These proposals are being consulted on, and we encourage the public to share their views on the White Paper proposals through the consultation, which will close on 13 August.</p><p> </p> answering member printed Lord Callanan question first answered 06/08/2020 11:39:49 answering member 4336 label Biography information for Lord Callanan
tabling member	4719 label Biography information for Baroness Bennett of Manor Castle

1228293

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Green Homes Grant Scheme
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when they intend to announce the range of measures that make up the Green Homes Grant Scheme; and how that Scheme will operate.
tabling member printed	Lord Truscott
uin	HL7563
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>The range of measures has now been announced.</p><p>The Green Homes Grants will give homeowners, including owner occupiers and social/private landlords, vouchers to install one or more of the following:</p><ul><li>Solid wall, under-floor, cavity wall or roof insulation;</li><li>Air source or ground source heat pump; or</li><li>Solar thermal.</li></ul><p>In addition, households can use their voucher for further energy saving measures. These include one or more of the following:</p><ul><li>Double or triple glazing/secondary glazing, when replacing single glazing;</li><li>Energy efficient replacement doors; and</li><li>Hot water tank/appliance tank thermostats/heating controls.</li></ul><p> </p><p>The new scheme will see the Government fund up to two thirds of the cost of home improvements of over 600,000 homes, supporting over 100,000 jobs in green construction. Consumers in England will be able to claim the new vouchers, which are worth up to £5,000. Households on low income can receive vouchers covering 100% of the cost of the improvements, up to a maximum of £10,000.</p> answering member printed Lord Callanan question first answered 06/08/2020 14:14:21 answering member 4336 label Biography information for Lord Callanan
tabling member	3682 label Biography information for Lord Truscott

1228294

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Green Homes Grant Scheme
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of whether they have recruited a sufficient number of assessors to launch the Green Homes Grant Scheme in September as previously announced.
tabling member printed	Lord Truscott
uin	HL7564
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>Retrofit assessors will not form a mandatory part of the Green Homes Grant, although applicants are encouraged to consult an assessor if they wish.</p><p> </p><p>Building the capacity and skills for retrofit assessment, and energy efficiency improvements more broadly, is an important part of the Green Homes Grant and will be achieved both through direct support and by ensuring the supply-chain has the confidence to recruit and train.</p><p> </p><p>The Government endorsed Simple Energy Advice service is designed to provide households with online advice and recommendations on the energy efficiency and heating improvements which they can make to their homes. Households will be able to apply for a Green Home voucher via the Simple Energy Advice service and will be encouraged to use the service to select the most appropriate measure or measures for their property.</p> answering member printed Lord Callanan question first answered 06/08/2020 14:14:56 answering member 4336 label Biography information for Lord Callanan
tabling member	3682 label Biography information for Lord Truscott

1228295

registered interest
date	29/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Green Homes Grant Scheme
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to publish a list of approved contractors to operate the Green Homes Grant Scheme.
tabling member printed	Lord Truscott
uin	HL7565
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>Businesses and Tradespeople must register for TrustMark accreditation to take part in the scheme if they are not already registered.</p><p> </p><p>TrustMark is the Government-endorsed quality scheme covering work a consumer chooses to have carried out on their home. Households will be able to choose from approved tradespeople in their areas to carry out the work, but only approved and accredited installers will be able to be commissioned, ensuring high standards and consumer protection.</p> answering member printed Lord Callanan question first answered 06/08/2020 14:15:24 answering member 4336 label Biography information for Lord Callanan
tabling member	3682 label Biography information for Lord Truscott

1228096

registered interest
date	28/07/2020
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Carbon Emissions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when they will publish their plans for meeting their Net Zero target for carbon emissions by 2050.
tabling member printed	Lord Birt
uin	HL7429
answer	answer is ministerial correction date of answer 06/08/2020 answer text <p>Tackling climate change and delivering our world-leading Net Zero target is a key priority for the Government.</p><p> </p><p>In 2020-21, ahead of hosting COP26, we will bring forward ambitious new plans to reduce emissions across key sectors of the economy – including an Energy White Paper, Transport Decarbonisation Plan and Heat and Building Strategy.</p><p> </p><p>This will build on the strong foundations we have established through our world-leading progress in decarbonising our economy, our ambitious manifesto commitments, and recent announcements from my Rt. Hon. Friends the Prime Minister and Mr Chancellor of the Exchequer of measures to cut emissions as we build back better in our economic recovery from Covid-19.</p><p> </p><p>We look forward to the Committee on Climate Change’s advice on the sixth carbon budget in December this year, ahead of setting this next ambitious target on the path to Net Zero by June 2021 as required by the Climate Change Act.</p> answering member printed Lord Callanan question first answered 06/08/2020 11:39:13 answering member 4336 label Biography information for Lord Callanan
tabling member	2533 label Biography information for Lord Birt