https://www.gov.uk/government/consultations/corporate-governance-reform<\/a>.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4115", "label" : {"_value" : "Biography information for Margot James"}
}
, "answeringMemberConstituency" : {"_value" : "Stourbridge"}
, "answeringMemberPrinted" : {"_value" : "Margot James"}
, "dateOfAnswer" : {"_value" : "2017-09-05", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : {"_value" : "6496"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2017-09-05T16:27:49.96Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "201"}
, "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"}
, "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"}
, "date" : {"_value" : "2017-07-20", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Directors: Pay"}
, "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, if he will ensure that listed companies publish the ratio of executive pay to the average pay of the broader UK workforce.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4397", "label" : {"_value" : "Biography information for Peter Dowd"}
}
, "tablingMemberConstituency" : {"_value" : "Bootle"}
, "tablingMemberPrinted" : [{"_value" : "Peter Dowd"}
], "uin" : "6495"}
, {"_about" : "http://data.parliament.uk/resources/754508", "AnsweringBody" : [{"_value" : "HM Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/754508/answer", "answerText" : {"_value" : "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>
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>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/3935", "label" : {"_value" : "Biography information for Mel Stride"}
}
, "answeringMemberConstituency" : {"_value" : "Central Devon"}
, "answeringMemberPrinted" : {"_value" : "Mel Stride"}
, "dateOfAnswer" : {"_value" : "2017-09-06", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2017-09-06T09:14:16.01Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "CaTreasury"}
, "date" : {"_value" : "2017-07-20", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Hotels and Restaurants: VAT"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask Mr Chancellor of the Exchequer, what plans he has to reduce VAT on hotels and restaurants in Northern Ireland.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4397", "label" : {"_value" : "Biography information for Peter Dowd"}
}
, "tablingMemberConstituency" : {"_value" : "Bootle"}
, "tablingMemberPrinted" : [{"_value" : "Peter Dowd"}
], "uin" : "6493"}
, {"_about" : "http://data.parliament.uk/resources/754514", "AnsweringBody" : [{"_value" : "Department for Work and Pensions"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/754514/answer", "answerText" : {"_value" : "
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>
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>
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>
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>
The FCA\u2019s 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\u2019s vital work in this area, which could deliver favourable outcomes for pension savers.<\/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>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4142", "label" : {"_value" : "Biography information for Guy Opperman"}
}
, "answeringMemberConstituency" : {"_value" : "Hexham"}
, "answeringMemberPrinted" : {"_value" : "Guy Opperman"}
, "dateOfAnswer" : {"_value" : "2017-09-06", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "6008"}
, {"_value" : "6009"}
, {"_value" : "6011"}
, {"_value" : "6012"}
, {"_value" : "6381"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2017-09-06T10:27:04.823Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "29"}
, "answeringDeptShortName" : {"_value" : "Work and Pensions"}
, "answeringDeptSortName" : {"_value" : "Work and Pensions"}
, "date" : {"_value" : "2017-07-20", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Pensions: Fees and Charges"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Secretary of State for Work and Pensions, what steps his Department is taking to improve the transparency of pension costs.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4122", "label" : {"_value" : "Biography information for Alex Cunningham"}
}
, "tablingMemberConstituency" : {"_value" : "Stockton North"}
, "tablingMemberPrinted" : [{"_value" : "Alex Cunningham"}
], "uin" : "6382"}
, {"_about" : "http://data.parliament.uk/resources/754515", "AnsweringBody" : [{"_value" : "Department for Work and Pensions"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/754515/answer", "answerText" : {"_value" : "
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>
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>
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>
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>
The FCA\u2019s 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\u2019s vital work in this area, which could deliver favourable outcomes for pension savers.<\/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>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4142", "label" : {"_value" : "Biography information for Guy Opperman"}
}
, "answeringMemberConstituency" : {"_value" : "Hexham"}
, "answeringMemberPrinted" : {"_value" : "Guy Opperman"}
, "dateOfAnswer" : {"_value" : "2017-09-06", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "6008"}
, {"_value" : "6009"}
, {"_value" : "6011"}
, {"_value" : "6012"}
, {"_value" : "6382"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2017-09-06T10:27:04.76Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "29"}
, "answeringDeptShortName" : {"_value" : "Work and Pensions"}
, "answeringDeptSortName" : {"_value" : "Work and Pensions"}
, "date" : {"_value" : "2017-07-20", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Pensions: Fees and Charges"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4122", "label" : {"_value" : "Biography information for Alex Cunningham"}
}
, "tablingMemberConstituency" : {"_value" : "Stockton North"}
, "tablingMemberPrinted" : [{"_value" : "Alex Cunningham"}
], "uin" : "6381"}
, {"_about" : "http://data.parliament.uk/resources/754517", "AnsweringBody" : [{"_value" : "Department for Work and Pensions"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/754517/answer", "answerText" : {"_value" : "
We want pension schemes to take account of all financial long-term risks when making investment decisions, and we therefore welcome the Law Commission\u2019s report.<\/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>
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>
One of the key recommendations is for trustees and providers to clearly distinguish financial risk factors \u2013 which must be taken account of; and non-financial (ethical) factors \u2013 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>
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>
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>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4142", "label" : {"_value" : "Biography information for Guy Opperman"}
}
, "answeringMemberConstituency" : {"_value" : "Hexham"}
, "answeringMemberPrinted" : {"_value" : "Guy Opperman"}
, "dateOfAnswer" : {"_value" : "2017-09-06", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2017-09-06T11:10:35.78Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "29"}
, "answeringDeptShortName" : {"_value" : "Work and Pensions"}
, "answeringDeptSortName" : {"_value" : "Work and Pensions"}
, "date" : {"_value" : "2017-07-20", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Pensions"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "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.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4122", "label" : {"_value" : "Biography information for Alex Cunningham"}
}
, "tablingMemberConstituency" : {"_value" : "Stockton North"}
, "tablingMemberPrinted" : [{"_value" : "Alex Cunningham"}
], "uin" : "6384"}
, {"_about" : "http://data.parliament.uk/resources/754519", "AnsweringBody" : [{"_value" : "Department for Business, Energy and Industrial Strategy"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/754519/answer", "answerText" : {"_value" : "
The Government published its response to consultation on the Green Paper on Corporate Governance Reform <\/em>on 29th August.<\/p>The response sets out the Government\u2019s 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>
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>
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>
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>
A copy of the Government\u2019s response to consultation on the Corporate Governance Reform <\/em>green paper can be found at https://www.gov.uk/government/consultations/corporate-governance-reform<\/a>.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4115", "label" : {"_value" : "Biography information for Margot James"}
}
, "answeringMemberConstituency" : {"_value" : "Stourbridge"}
, "answeringMemberPrinted" : {"_value" : "Margot James"}
, "dateOfAnswer" : {"_value" : "2017-09-05", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : {"_value" : "6495"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2017-09-05T16:27:50.02Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "201"}
, "answeringDeptShortName" : {"_value" : "Business, Energy and Industrial Strategy"}
, "answeringDeptSortName" : {"_value" : "Business, Energy and Industrial Strategy"}
, "date" : {"_value" : "2017-07-20", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Directors: Pay"}
, "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 plans he has to make executive pay packages subject to annual votes by shareholders.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4397", "label" : {"_value" : "Biography information for Peter Dowd"}
}
, "tablingMemberConstituency" : {"_value" : "Bootle"}
, "tablingMemberPrinted" : [{"_value" : "Peter Dowd"}
], "uin" : "6496"}
], "itemsPerPage" : 10, "next" : "https://eldaddp.azurewebsites.net/answeredquestions.text?_page=1&max-dateTabled=2017-07-20&version=2&max-answer.dateOfAnswer=2018-11-20", "page" : 0, "startIndex" : 1, "totalResults" : 26220, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]}
}