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1059216

registered interest
date	11/02/2019
answering body	Attorney General
answering dept id	88
answering dept short name	Attorney General
answering dept sort name	Attorney General
hansard heading	Sir Philip Green
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether Sir Phillip Green or any company, trust or other entity associated with him, has obtained an injunction against Her Majesty's Government or any government departments, agencies or public bodies since May 2010; if so, when any such injunction was granted; and when it was withdrawn.
tabling member printed	Lord Myners
uin	HL13602
answer	answer is ministerial correction date of answer 21/02/2019 answer text <p>The Government Legal Department (GLD) conducts civil litigation on behalf of most government departments and many (but not all) executive agencies and non-departmental public bodies.</p><p>GLD has no record of any injunctions obtained by Sir Philip Green, or any entity known by GLD to be connected with him, against any of the departments, agencies or bodies to which GLD provides litigation services.</p> answering member printed Lord Keen of Elie question first answered 21/02/2019 12:19:00 answering member 4538 label Biography information for Lord Keen of Elie
tabling member	3869 label Biography information for Lord Myners

1059217

registered interest
date	11/02/2019
answering body	Department for Digital, Culture, Media and Sport
answering dept id	10
answering dept short name	Digital, Culture, Media and Sport
answering dept sort name	Digital, Culture, Media and Sport
hansard heading	Football: Clubs
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, following the establishment of the Future High Streets Fund to support and fund local areas’ plans to make their high streets and town centres fit for the future, whether they will consider providing similar assistance to local football clubs to ensure such clubs can continue to benefit their communities; and whether they will work alongside the football authorities to this end.
tabling member printed	Lord Pendry
uin	HL13603
answer	answer is ministerial correction date of answer 20/02/2019 answer text <p>At last Budget the government announced a £675 million Future High Streets Fund to help improve infrastructure and access to high streets, put historic buildings back to use and make town centres fit for the future.</p><p> </p><p>At the same time, the government recognises the important social and wellbeing benefits local football clubs can bring to their communities. Through our partnership with the FA and the Premier League in the Football Foundation Charity, we are investing more money than ever before into creating the facilities across the country that can be used for local community use.</p><p> </p><p>New Local Football Facility Plans for every Local Authority in England are being worked up over the next 12 months. These plans will identify the places where investment in facilities is needed the most.</p> answering member printed Lord Ashton of Hyde question first answered 20/02/2019 11:32:40 answering member 4247 label Biography information for Lord Ashton of Hyde
tabling member	457 label Biography information for Lord Pendry

1059219

registered interest
date	11/02/2019
answering body	Department for Education
answering dept id	60
answering dept short name	Education
answering dept sort name	Education
hansard heading	Pre-school Education: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to review funding levels for early entitlements to ensure that childcare providers are able to continue providing high quality early education.
tabling member printed	Lord Porter of Spalding
uin	HL13604
answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>We will be spending around £6 billion on childcare support in 2019-20 – a record amount. That will include funding for our early education entitlements, on which we plan to spend around £3.5 billion this year alone.</p><p> </p><p>Our average funding rates are based on the department’s ‘Review of Childcare Costs’ (attached) which was described as “thorough and wide ranging” by the National Audit Office. The review looked at both current and future cost pressures.</p><p> </p><p>The government recognises the need to keep the evidence base on costs up to date. We continue to monitor the provider market closely through a range of regular and one-off research projects which provide insight into various aspects of the provider market.</p><p> </p><p>Future spending decisions will be a matter for the Spending Review.</p> answering member printed Lord Agnew of Oulton question first answered 25/02/2019 11:59:28 answering member 4689 label Biography information for Lord Agnew of Oulton attachment 1 file name HL13604_151124_Analytical_review.pdf title HL13604_Review_of_childcare_costs
tabling member	4555 label Biography information for Lord Porter of Spalding

1059220

registered interest
date	11/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Certificates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government why they are changing the index on NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996 from RPI to CPI; and what is the legal base that enables this change to be made.
tabling member printed	Lord Sharkey
uin	HL13605
answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13606 HL13607 HL13608 HL13609 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
tabling member	4196 label Biography information for Lord Sharkey

1059221

registered interest
date	11/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Certificates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what estimate they have made of the benefit that will accrue to HM Treasury from the change in the index from RPI to CPI of NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996.
tabling member printed	Lord Sharkey
uin	HL13606
answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13607 HL13608 HL13609 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
tabling member	4196 label Biography information for Lord Sharkey

1059222

registered interest
date	11/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Certificates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is the total outstanding value of, and interest credited on, NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996 for each of the last 10 years; and what projections have been made for outstanding value and interest credited for each of the next 10 years.
tabling member printed	Lord Sharkey
uin	HL13607
answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13608 HL13609 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
tabling member	4196 label Biography information for Lord Sharkey

1059223

registered interest
date	11/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings Certificates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, for each of the last 10 years, how many individuals owned NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996 and what projections they have made for the number of future owners in the next 10 years.
tabling member printed	Lord Sharkey
uin	HL13608
answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13607 HL13609 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
tabling member	4196 label Biography information for Lord Sharkey

1059224

registered interest
date	11/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Securities
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what HM Treasury-backed interest bearing and index linked financial instruments have had, in the last 10 years, the index changed from (1) RPI to CPI, and (2) CPI to RPI; and what the rationale was for those changes.
tabling member printed	Lord Sharkey
uin	HL13609
answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13607 HL13608 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
tabling member	4196 label Biography information for Lord Sharkey

1059225

registered interest
date	11/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Securities
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, in the light of the changes to NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996, whether they plan to change to CPI the index on those index-linked gilts currently using RPI; and if not, why not.
tabling member printed	Lord Sharkey
uin	HL13610
answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13607 HL13608 HL13609 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
tabling member	4196 label Biography information for Lord Sharkey

1059226

registered interest
date	11/02/2019
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	Manufacturing Industries
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 impact of falls in factory output on the recent growth slowdown in the UK manufacturing sector.
tabling member printed	Lord Taylor of Warwick
uin	HL13611
answer	answer is ministerial correction date of answer 19/02/2019 answer text <p>Whilst the latest Index of Production figures for December 2018 show that manufacturing output fell by 0.7% on the previous month, in fact, manufacturing output for the entirety of 2018 rose by 0.9% compared to 2017 levels.</p><p> </p><p>The government recognises that the manufacturing sector remains a vital contributor to the economy of the UK, driving innovation, exports, job creation, and productivity growth. The sector supports 2.7 million jobs, generates 49% of the UK total exports of goods and services, and accounts for 66% of all business expenditure on UK R&amp;D. Through our modern Industrial Strategy and Made Smarter – our key national industrial digitalisation programme – we are building an economy fit for the future. In the process, we are exploiting the wealth of opportunities from next generation technologies that foster competitive business environments, allowing for UK manufacturing to flourish. As the 9<sup>th</sup> largest global manufacturing economy, we are – and will continue to be – a major manufacturing nation.</p> answering member printed Lord Henley question first answered 19/02/2019 14:16:14 answering member 2616 label Biography information for Lord Henley
tabling member	1796 label Biography information for Lord Taylor of Warwick