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754483

registered interest
date	20/07/2017
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Public Sector: Jarrow
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Minister for the Cabinet Office, how many and what proportion of people in Jarrow constituency worked in the public sector in each year for which data is available.
tabling member constituency	Jarrow
tabling member printed	Mr Stephen Hepburn
uin	6673
answer	answer is ministerial correction date of answer 05/09/2017 answer text <p>The information requested falls within the responsibility of the UK Statistics Authority. I have asked the Authority to reply.</p><p><strong> </strong></p> answering member constituency Kingswood answering member printed Chris Skidmore question first answered 05/09/2017 13:16:13 answering member 4021 label Biography information for Chris Skidmore attachment 1 file name PQ6673.pdf title UKSA Response to PQ6673
tabling member	520 label Biography information for Mr Stephen Hepburn

754493

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Sector: Pay
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what distributional analysis his Department has carried out on the public sector pay cap; and if he will place in the Library a copy of that analysis.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6553
answer	answer is ministerial correction date of answer 08/09/2017 answer text <p>It is the responsibility of the relevant departments to consider how to distribute the funds available for their annual pay awards.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 08/09/2017 12:50:44 answering member 4097 label Biography information for Elizabeth Truss
tabling member	178 label Biography information for John McDonnell

754496

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Corporation Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what distributional analysis his Department has carried out on the Government's plan to cut corporation tax to 17 per cent by 2020.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6564
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>The government has not conducted a full distributional analysis of cutting corporation tax to 17%. This is because there is insufficient data about the income distribution of corporate shareholders and uncertainty about the incidence of corporation tax.</p><p> </p><p>However, it is widely accepted, including by the Institute for Fiscal Studies, that a significant proportion of the burden of corporation tax is borne by workers and consumers, not just shareholders.</p><p> </p><p>As with all tax measures, the Government has published a tax information and impact note (TIIN) for this measure which provides our assessment that there are no equalities impacts.</p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6563 question first answered 06/09/2017 09:23:14 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754500

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what equality impact assessment his Department has carried out on the provisions of the forthcoming Finance Bill; and if he will place in the Library a copy of the relevant documents when that Bill receives its First Reading.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	6549
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>HM Treasury publishes distributional analysis of the cumulative impact of the Government’s tax, welfare, and public service spending decisions at each fiscal event, the latest of which can be found here:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/597473/impact_on_households_SB2017_web.pdf</a></p><p> </p><p>The Government publishes Tax Information and Impact notes (TIINs) for all tax policy changes. TIINs provide an explanation of the policy objective together with details of the tax impact on the Exchequer, the economy, individuals, businesses, civil society organisations, as well as any equality or other specific area of impact. All TIINs, including those for the Budget 2016 changes to Capital Gains Tax, can be found here:</p><p><strong><a href="https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins" target="_blank">https://www.gov.uk/government/collections/tax-information-and-impact-notes-tiins</a> </strong></p> answering member constituency Central Devon answering member printed Mel Stride grouped question UIN 6550 6590 6770 question first answered 06/09/2017 09:00:32 answering member 3935 label Biography information for Mel Stride
tabling member	178 label Biography information for John McDonnell

754503

registered interest
date	20/07/2017
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	Directors: Pay
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will ensure that listed companies publish the ratio of executive pay to the average pay of the broader UK workforce.
tabling member constituency	Bootle
tabling member printed	Peter Dowd
uin	6495
answer	answer is ministerial correction date of answer 05/09/2017 answer text <p>The Government published its response to consultation on the Green Paper on <em>Corporate Governance Reform </em>on 29th August.</p><p>The response sets out the Government’s plans to introduce secondary legislation to require quoted companies to report annually the ratio of CEO pay to the average pay of their UK workforce along with a narrative explaining changes to that ratio from year to year and setting the ratio in the context of pay and conditions across the wider workforce.</p><p>Companies already face a binding vote on their executive remuneration policy at least once every three years, and must win a binding shareholder vote for any executive pay proposals that deviate from that policy. Most listed companies secure strong backing from their shareholders for their executive pay arrangements and are sensitive to shareholder concerns.</p><p>A minority, however, do not respond adequately to shareholder concerns. The Government has therefore invited the Financial Reporting Council to revise the UK Corporate Governance Code to be more specific about the steps that premium listed companies should take to understand and address shareholder concerns when they encounter significant opposition to their executive pay policies and awards.</p><p>The Government has also invited the Investment Association to implement a proposal made in its response to the Green Paper to maintain a public register of listed companies encountering shareholder opposition to pay awards of 20% or more. This will be accompanied by a record of what these companies have said they are doing to address shareholder concerns. The Government will monitor the impact of these measures.</p><p>A copy of the Government’s response to consultation on the <em>Corporate Governance Reform </em>green paper can be found at <a href="https://www.gov.uk/government/consultations/corporate-governance-reform" target="_blank">https://www.gov.uk/government/consultations/corporate-governance-reform</a>.</p> answering member constituency Stourbridge answering member printed Margot James grouped question UIN 6496 question first answered 05/09/2017 16:27:49 answering member 4115 label Biography information for Margot James
tabling member	4397 label Biography information for Peter Dowd

754508

registered interest
date	20/07/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Hotels and Restaurants: VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans he has to reduce VAT on hotels and restaurants in Northern Ireland.
tabling member constituency	Bootle
tabling member printed	Peter Dowd
uin	6493
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>EU law does not allow for the application of different VAT rates in different regions of the UK. VAT rates must therefore apply across the whole of the UK. The government has considered the economic costs and benefits of a reduced rate of VAT for tourism related activities and has concluded that there is currently insufficient evidence that this would provide value for money.</p><p> </p><p>The government will look again at the impact of both VAT and APD on tourism in Northern Ireland and will commission a detailed consultative report to gather further evidence to recommend how best to build upon the growing success of that sector.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 06/09/2017 09:14:16 answering member 3935 label Biography information for Mel Stride
tabling member	4397 label Biography information for Peter Dowd

754514

registered interest
date	20/07/2017
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what steps his Department is taking to improve the transparency of pension costs.
tabling member constituency	Stockton North
tabling member printed	Alex Cunningham
uin	6382
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>It is important that pension savers know the costs and charges they are paying and the government is committed to making this happen. We want pension scheme members to have confidence that there are no hidden charges or fees being taken from their pots.</p><p> </p><p>Since 2015, we have required occupational and personal workplace pension schemes offering money purchase benefits, including master trust schemes, to produce an annual statement, which is available to members; which sets out the level of charges and, as far as they are able, transaction costs applicable to all funds; and the extent to which these charges and costs represent good value for members.</p><p> </p><p>It has previously been difficult for schemes to obtain information about the charges and transaction costs they incur. The Financial Conduct Authority (FCA) consulted last year on proposals requiring asset managers to disclose this information to trustees of occupational schemes offering money purchase benefits, and the governance committees for workplace personal pensions.</p><p> </p><p>The FCA will publish a Policy Statement later in the year setting out the final rules and guidance to disclose costs in a standardised format. We then intend to consult on how we can provide information about these costs and charges to the members of occupational schemes and to publish it. The FCA will, thereafter, introduce similar provisions for personal workplace pension schemes members.</p><p> </p><p>The FCA’s Asset Management Market Study indicated that there are significant issues with the way the investment market works. Savers, trustees, and scheme sponsors need a transparent, competitive and cost-effective investment market to provide for their security in later life and to keep their pension provision affordable. We will be studying the recommendations and proposed remedies closely to see what else government can do to support the FCA’s vital work in this area, which could deliver favourable outcomes for pension savers.</p><p> </p><p>To drive competitive pressure on asset managers the FCA recommended we look at barriers to scheme consolidation. We know that smaller pension schemes may not be able to negotiate or drive lower prices within this market, which in turn can lead to better outcomes for savers. Following a recent Call for Evidence, we are actively considering ways that we can simplify scheme consolidation and enable pension scheme scale to develop further.</p> answering member constituency Hexham answering member printed Guy Opperman grouped question UIN 6008 6009 6011 6012 6381 question first answered 06/09/2017 10:27:04 answering member 4142 label Biography information for Guy Opperman
tabling member	4122 label Biography information for Alex Cunningham

754515

registered interest
date	20/07/2017
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what plans he has to bring forward legislative proposals to tackle the issue of hidden costs in pension pots.
tabling member constituency	Stockton North
tabling member printed	Alex Cunningham
uin	6381
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>It is important that pension savers know the costs and charges they are paying and the government is committed to making this happen. We want pension scheme members to have confidence that there are no hidden charges or fees being taken from their pots.</p><p> </p><p>Since 2015, we have required occupational and personal workplace pension schemes offering money purchase benefits, including master trust schemes, to produce an annual statement, which is available to members; which sets out the level of charges and, as far as they are able, transaction costs applicable to all funds; and the extent to which these charges and costs represent good value for members.</p><p> </p><p>It has previously been difficult for schemes to obtain information about the charges and transaction costs they incur. The Financial Conduct Authority (FCA) consulted last year on proposals requiring asset managers to disclose this information to trustees of occupational schemes offering money purchase benefits, and the governance committees for workplace personal pensions.</p><p> </p><p>The FCA will publish a Policy Statement later in the year setting out the final rules and guidance to disclose costs in a standardised format. We then intend to consult on how we can provide information about these costs and charges to the members of occupational schemes and to publish it. The FCA will, thereafter, introduce similar provisions for personal workplace pension schemes members.</p><p> </p><p>The FCA’s Asset Management Market Study indicated that there are significant issues with the way the investment market works. Savers, trustees, and scheme sponsors need a transparent, competitive and cost-effective investment market to provide for their security in later life and to keep their pension provision affordable. We will be studying the recommendations and proposed remedies closely to see what else government can do to support the FCA’s vital work in this area, which could deliver favourable outcomes for pension savers.</p><p> </p><p>To drive competitive pressure on asset managers the FCA recommended we look at barriers to scheme consolidation. We know that smaller pension schemes may not be able to negotiate or drive lower prices within this market, which in turn can lead to better outcomes for savers. Following a recent Call for Evidence, we are actively considering ways that we can simplify scheme consolidation and enable pension scheme scale to develop further.</p> answering member constituency Hexham answering member printed Guy Opperman grouped question UIN 6008 6009 6011 6012 6382 question first answered 06/09/2017 10:27:04 answering member 4142 label Biography information for Guy Opperman
tabling member	4122 label Biography information for Alex Cunningham

754517

registered interest
date	20/07/2017
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what plans he has to implement the recommendations of the Law Commission on clarifying the duties of pension providers in respect of long-term investment factors.
tabling member constituency	Stockton North
tabling member printed	Alex Cunningham
uin	6384
answer	answer is ministerial correction date of answer 06/09/2017 answer text <p>We want pension schemes to take account of all financial long-term risks when making investment decisions, and we therefore welcome the Law Commission’s report.</p><p>We are concerned that some investment decisions may be made with short-term considerations in mind. This can exclude consideration of options that take account of longer term financial factors, such as those arising from material environmental, social and governance (ESG) risks.</p><p>We are concerned that some investment decisions may not appropriately take into account longer term financial factors, such as those arising from material environmental, social and governance (ESG) risks.</p><p>One of the key recommendations is for trustees and providers to clearly distinguish financial risk factors – which must be taken account of; and non-financial (ethical) factors – which can be taken account if certain conditions are met. We will consider afresh whether our current legislation is clear enough in light of the report.</p><p>However, we also wish to address some of the behavioural biases that may exist in the industry, such as the assumption that social motivation and good investment returns are not compatible.</p><p>In line with the protocol agreed by the Lord Chancellor with the Law Commission, we aim to provide an interim response to both the 5 recommendations and the 11 options for reform by December 2017. We will respond in full within one year of publication, by June 2018.</p> answering member constituency Hexham answering member printed Guy Opperman question first answered 06/09/2017 11:10:35 answering member 4142 label Biography information for Guy Opperman
tabling member	4122 label Biography information for Alex Cunningham

754519

registered interest
date	20/07/2017
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	Directors: Pay
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans he has to make executive pay packages subject to annual votes by shareholders.
tabling member constituency	Bootle
tabling member printed	Peter Dowd
uin	6496
answer	answer is ministerial correction date of answer 05/09/2017 answer text <p>The Government published its response to consultation on the Green Paper on <em>Corporate Governance Reform </em>on 29th August.</p><p>The response sets out the Government’s plans to introduce secondary legislation to require quoted companies to report annually the ratio of CEO pay to the average pay of their UK workforce along with a narrative explaining changes to that ratio from year to year and setting the ratio in the context of pay and conditions across the wider workforce.</p><p>Companies already face a binding vote on their executive remuneration policy at least once every three years, and must win a binding shareholder vote for any executive pay proposals that deviate from that policy. Most listed companies secure strong backing from their shareholders for their executive pay arrangements and are sensitive to shareholder concerns.</p><p>A minority, however, do not respond adequately to shareholder concerns. The Government has therefore invited the Financial Reporting Council to revise the UK Corporate Governance Code to be more specific about the steps that premium listed companies should take to understand and address shareholder concerns when they encounter significant opposition to their executive pay policies and awards.</p><p>The Government has also invited the Investment Association to implement a proposal made in its response to the Green Paper to maintain a public register of listed companies encountering shareholder opposition to pay awards of 20% or more. This will be accompanied by a record of what these companies have said they are doing to address shareholder concerns. The Government will monitor the impact of these measures.</p><p>A copy of the Government’s response to consultation on the <em>Corporate Governance Reform </em>green paper can be found at <a href="https://www.gov.uk/government/consultations/corporate-governance-reform" target="_blank">https://www.gov.uk/government/consultations/corporate-governance-reform</a>.</p> answering member constituency Stourbridge answering member printed Margot James grouped question UIN 6495 question first answered 05/09/2017 16:27:50 answering member 4115 label Biography information for Margot James
tabling member	4397 label Biography information for Peter Dowd