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172688

registered interest
date	08/01/2015
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	City Link
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will examine the financial support undertakings given to City Link by its owner; and whether they have estimated the cost to the taxpayer of the withdrawal of the committed support.
tabling member printed	Lord Myners
uin	HL4008
answer	answer is ministerial correction date of answer 20/01/2015 answer text <p><strong> </strong></p><p> </p><p>The Insolvency Service will consider the conduct of the directors of City Link in connection with the management of the company. This would include any issues associated with financial support offered by its owner or by third parties.</p><p> </p><p> </p><p> </p><p>It is not uncommon that an insolvent company has insufficient money to pay their creditors in full - including employees - and that is why there are special arrangements for employees who are made redundant on the insolvency of their employer. These provisions ensure employees receive a basic minimum of the debts owed by the employer from the National Insurance Fund.</p><p> </p><p> </p><p> </p><p>It is too early to provide an estimate of the cost of the payments to former employees of City Link. However, I can confirm that there are statutory limits on these payments, such as the £464 cap on a week’s pay.</p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 20/01/2015 12:51:55 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

167897

registered interest
date	04/12/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Rating
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have had talks with the credit rating agencies with a view to restoring the United Kingdom’s AAA credit rating.
tabling member printed	Lord Myners
uin	HL3421
answer	answer is ministerial correction date of answer 19/12/2014 answer text <p>The current European credit rating regulation 1060/2009 stipulates that rating agencies monitor and review credit ratings on an ongoing basis and at least annually. Furthermore, the regulation states that:</p><p> </p><p> </p><p> </p><p><em>&quot;The credit rating agency shall inform the rated entity at least 12 hours before publication of the credit rating and of the principal grounds on which the rating is based in order to give the entity an opportunity to draw attention of the credit rating agency to any factual errors&quot;.</em></p><p> </p><p> </p><p> </p><p>The Government’s long term economic plan has secured the UK’s strong credit rating, which has contributed to lower borrowing costs and helped protect frontline services. In June 2014, Standard and Poor’s (S&amp;P) revised the outlook on their UK AAA rating to stable, from negative. The key driver cited by S&amp;P was <em>‘Amid further progress in consolidating public finances, the UK’s economic recovery is broadening.’ </em></p><p> </p><p> </p><p> </p><p>S&amp;P have assigned the UK sovereign the top triple AAA rating since they first published a UK rating in 1978. Moody’s and Fitch have assigned the UK the second highest rating Aa1 and AA+ respectively, with a stable outlook.</p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 19/12/2014 12:47:32 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

156561

registered interest
date	19/11/2014
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Quindell
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they are investigating Quindell plc and its board of directors and financial advisers; and if not, whether they plan to do so.
tabling member printed	Lord Myners
uin	HL2984
answer	answer is ministerial correction date of answer 01/12/2014 answer text <p>Quindell plc is Alternative Investment Market (AIM) listed which is controlled by London Stock Exchange and any enquiry relating to possible market abuse sits within the remit of the Financial Conduct Authority.</p><p> </p><p>The Government’s Insolvency Service has discretionary powers under the Companies Acts to conduct enquiries on behalf of the Secretary of State where it appears that there has been misconduct in relation to the affairs of any company, including those not subject to formal insolvency.</p><p> </p><p> </p><p> </p><p>For the investigation process to be effective it is essential to maintain confidentiality at all stages and there is also a need to protect the commercial interest of companies against the danger of damage from malicious complaints. For these reasons there are legal restrictions on disclosing information obtained during an enquiry and The Service does not confirm or deny whether an investigation of a particular company is taking place.</p><p> </p><p>Where other regulators and investigating agencies are involved, the Insolvency Service would liaise closely to ensure public money is not wasted duplicating resources.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 01/12/2014 12:09:55 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

147378

registered interest
date	10/11/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cooperatives
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to Written Answer by Lord Deighton on 15 September (HL1801), whether they are content with the regulatory protection afforded to members and creditors of cooperative societies; and whether they intend to review regulatory oversight of cooperative societies.
tabling member printed	Lord Myners
uin	HL2782
answer	answer is ministerial correction date of answer 24/11/2014 answer text <p>The Financial Conduct Authority (FCA) is the registrar for cooperatives and community benefit societies. It has no regulatory functions over societies which are not authorised to carry out financial services activities.</p><p> </p><p> </p><p> </p><p>On 6 April 2014, the government implemented a package of measures which introduced insolvency procedures for cooperative societies and gave the FCA additional powers to investigate societies suspected of improper or unlawful behaviour. These measures provide increased protection of members and creditors of cooperative societies.</p><p> </p><p> </p><p> </p><p>The government will keep the oversight of cooperatives and community benefit societies under review, but has no plans to undertake further reform of this area at the current time.</p><p> </p> answering member printed Lord Deighton question first answered 24/11/2014 14:00:34 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

106187

registered interest
date	04/11/2014
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether the UK Statistics Authority was consulted about, or intends to review the categorisation of expenditure used in the recent letter sent to taxpayers regarding government expenditure.
tabling member printed	Lord Myners
uin	HL2658
answer	answer is ministerial correction date of answer 06/11/2014 answer text <p>The information requested falls within the responsibility of the UK Statistics Authority. I have asked the Authority to reply.</p><p> </p> answering member printed Lord Wallace of Saltaire question first answered 06/11/2014 14:24:46 answering member 1816 label Biography information for Lord Wallace of Saltaire attachment 1 file name Letter from Sir Andrew Dilnot to Lord Myners PQ HL2658 06112014.pdf title ONS Letter to PEER - Expenditure
tabling member	3869 label Biography information for Lord Myners

92788

registered interest
date	13/10/2014
answering body	Department for Communities and Local Government
answering dept id	7
answering dept short name	Communities and Local Government
answering dept sort name	Communities and Local Government
hansard heading	Coastal Areas: Regeneration
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government how they assess the success of their 2010 "Strategy for seaside success"; and whether they have further proposals in this field.
tabling member printed	Lord Myners
uin	HL2024
answer	answer is ministerial correction date of answer 22/10/2014 answer text <p>The Strategy was issued by the last Government and called on third parties to do something about the challenges facing coastal towns. In contrast to this top-down strategy which relied on distant and unaccountable regional government to facilitate ideas, we have focused on empowering local communities.</p><p> </p><p>This Government recognises the economic and social challenges faced by coastal and seaside communities and is committed to making them better places to live, work and visit. That is why we set up the Coastal Communities Fund. This has provided £62 million in grants to 114 projects across UK, levering in £96 million of other funding and delivering over 8,600 jobs, 3,300 training places and over 400 new business start-ups.</p><p> </p><p>We have given communities the means to take control and act in the best interests of their local area through a wide toolkit of powers, options and incentives to help drive growth and jobs. As part of the Growth Deals announced in July we have committed over £500 million to projects put forward by Local Enterprise Partnerships to improve economic competitiveness in coastal areas and, also in July, the Parliamentary Under Secretary of State for Communities and Local Government (Penny Mordaunt) was appointed Minister for Coastal Communities, to help them realise their potential and build a sustainable future for themselves.</p> answering member printed Lord Ahmad of Wimbledon question first answered 22/10/2014 15:38:36 answering member 4210 label Biography information for Lord Ahmad of Wimbledon
tabling member	3869 label Biography information for Lord Myners

92394

registered interest
date	06/10/2014
answering body	Foreign and Commonwealth Office
answering dept id	16
answering dept short name	Foreign and Commonwealth Office
answering dept sort name	Foreign and Commonwealth Office
hansard heading	North Korea
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government how many people are employed in the British Embassy in Pyongyang.
tabling member printed	Lord Myners
uin	HL1956
answer	answer is ministerial correction date of answer 14/10/2014 answer text <p>As of October 2014, the Foreign and Commonwealth Office employs 11 staff in our Embassy in Pyongyang, Democratic People’s Republic of Korea. This figure includes UK-based civil servants and locally engaged staff.</p><p> </p> answering member printed Baroness Anelay of St Johns question first answered 14/10/2014 14:26:07 answering member 3474 label Biography information for Baroness Anelay of St Johns
tabling member	3869 label Biography information for Lord Myners

92395

registered interest
date	06/10/2014
answering body	Foreign and Commonwealth Office
answering dept id	16
answering dept short name	Foreign and Commonwealth Office
answering dept sort name	Foreign and Commonwealth Office
hansard heading	North Korea
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what are their foreign policy priorities in respect of North Korea.
tabling member printed	Lord Myners
uin	HL1957
answer	answer is ministerial correction date of answer 14/10/2014 answer text <p>The UK’s foreign policy priorities for the Democratic People's Republic of Korea (DPRK) are focused on two areas: counter-proliferation and human rights. Bilaterally, we use our policy of ‘critical engagement’ directly to communicate issues of substantial concern, and to expose North Koreans to international values and the benefits of engaging with the international community. Multilaterally, the UK co-operates closely with like minded partners to ensure international pressure is maintained on the DPRK to address human rights violations and comply fully with its international obligations, including under UN Security Council resolutions relating to its nuclear and ballistic missile programmes.</p><p> </p> answering member printed Baroness Anelay of St Johns question first answered 14/10/2014 14:26:53 answering member 3474 label Biography information for Baroness Anelay of St Johns
tabling member	3869 label Biography information for Lord Myners

92396

registered interest
date	06/10/2014
answering body	Foreign and Commonwealth Office
answering dept id	16
answering dept short name	Foreign and Commonwealth Office
answering dept sort name	Foreign and Commonwealth Office
hansard heading	Sanctions: Russia
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what representations they have made to the Society for Worldwide Financial Telecommunications regarding possible sanctions against Russia.
tabling member printed	Lord Myners
uin	HL1958
answer	answer is ministerial correction date of answer 20/10/2014 answer text <p>No representations have been made to the Society for Worldwide Financial Telecommunications by the British Government regarding possible sanctions against Russia.</p> answering member printed Baroness Anelay of St Johns question first answered 20/10/2014 13:12:52 answering member 3474 label Biography information for Baroness Anelay of St Johns
tabling member	3869 label Biography information for Lord Myners

89958

registered interest
date	01/09/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Cooperatives
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they consider that the Financial Conduct Authority’s responsibilities for the oversight of cooperative societies are sufficient to protect the interests of members and creditors.
tabling member printed	Lord Myners
uin	HL1800
answer	answer is ministerial correction date of answer 22/09/2014 answer text <p>The Financial Conduct Authority acts as the registrar for cooperative societies; it has no regulatory function in respect of cooperative societies where they are not authorised firms. The Government considers that this role is appropriate. The FCA was given additional powers in relation to this role in April 2014.</p> answering member printed Lord Deighton grouped question UIN HL1801 question first answered 22/09/2014 13:10:10 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners