The Investor-State Dispute Settlement (ISDS) mechanism in the Transatlantic Trade and Investment Partnership (TTIP) has not yet been negotiated. The European Commission carried out a public consultation on these provisions last year and has published a report on the consultation responses. The UK, with other EU Member States and the Commission, will consider the report\u2019s findings carefully to understand what is required of ISDS provisions to protect the right of governments to regulate in the public interest.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4070", "label" : {"_value" : "Biography information for Matt Hancock"} } , "answeringMemberConstituency" : {"_value" : "West Suffolk"} , "answeringMemberPrinted" : {"_value" : "Matthew Hancock"} , "dateOfAnswer" : {"_value" : "2015-03-12", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-03-12T15:55:29.057Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2015-03-03", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Transatlantic Trade and Investment Partnership"} , "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, Innovation and Skills, what assessment he has made of whether foreign corporations will be able to sue the Government for damages and loss of profit under the investor-state dispute mechanism of the Transatlantic Trade and Investment Partnership; and what steps the Government plans to take to prevent such an occurrence.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/545", "label" : {"_value" : "Biography information for Paul Flynn"} } , "tablingMemberConstituency" : {"_value" : "Newport West"} , "tablingMemberPrinted" : [{"_value" : "Paul Flynn"} ], "uin" : "226095"} , {"_about" : "http://data.parliament.uk/resources/224634", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/224634/answer", "answerText" : {"_value" : "
The Government has taken bold and innovative steps to improve business access to bank and non-bank finance.<\/p>
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A key development has been the establishment of the British Business Bank (BBB) which became operationally independent in November 2014. For the first time, the UK has a permanent institution committed to correcting business finance market failures and driving innovation and competition in the markets. Similar institutions have long been a feature in the access to finance landscape in other countries.<\/p>
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The Bank has made significant progress not just in terms of its establishment but also by the amount of investment that it is already stimulating. Business Bank programmes are currently supporting £1.8bn of finance to over 43,000 smaller businesses, with a further £1.2bn of finance to mid-cap businesses. Over the next five years, it aims to unlock further significant bank and non-bank finance for viable smaller businesses through programmes such as the Enterprise Finance Guarantee, the Start Up Loan programme, the Investment Programme and venture capital programmes.<\/p>
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Government is also legislating to improve business access to finance. Provisions in the Small Business, Enterprise and Employment Bill will require major banks to refer declined small business borrowers to lending platforms. This will help put borrowers in touch with alternatives to their main bank and stimulate the growth of alternative providers. Banks will also be required to share credit data on their small and medium sized business customers with other finance providers via credit reference agencies to make it easier for alternative lenders to lend.<\/p>
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Government is taking steps to improve the information and advice available to potential borrowers through schemes such as \u2018My Business Support Tool\u2019. This helps businesses find the support appropriate for their size and situation quickly with businesses being able to speak to, or webchat, with a helpline adviser direct using the Business Support helpline.<\/p>
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Government is also improving competition and choice in finance markets. For example, authorisation processes for new banks have been streamlined, and the seven day Current Account Switching Service will be extended to businesses with a turnover of up to £6.5m from the beginning of April. The British Business Bank\u2019s Investment Programme is co-investing up to £400 million into alternative finance providers, including challenger banks and non-bank lenders such as crowd funding platforms. In addition, the Competition and Market Authority is carrying out a market investigation of SME banking, with provisional findings and a possible remedies notice (if required) expected in September.<\/p>
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Government is using the tax system to support the development of alternative financing. Tax changes announced in last year\u2019s Autumn Statement, for example, will support the development of peer to peer lending and crowdfunding platforms by allowing investors to offset losses from bad loans against other peer to peer income. In addition, the government is boosting the private placement market, which provides long-term funding for business from insurance companies and other non-bank sources, by making an exemption from withholding tax for interest on private placements.<\/p>
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The overall business finance environment is improving. Gross bank lending to small businesses in 2014 was 24% higher than in 2013 and, according to the latest SME Finance Monitor report, 76% of applications for loans and overdrafts made within the last 18 months were successful. Gross lending to all non-financial businesses, including large companies, in 2014 was 16% higher than in 2013. Research published by Nesta in November 2014 shows that the alternative finance market is also increasing rapidly. In 2014, the market raised £1.19 billion for businesses, more than double that raised in 2013.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4070", "label" : {"_value" : "Biography information for Matt Hancock"} } , "answeringMemberConstituency" : {"_value" : "West Suffolk"} , "answeringMemberPrinted" : {"_value" : "Matthew Hancock"} , "dateOfAnswer" : {"_value" : "2015-03-09", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-03-09T15:09:01.15Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2015-03-03", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Business"} , "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, Innovation and Skills, what steps he is taking to improve business access to (a) bank and (b) non-bank finance; and if he will make a statement.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/116", "label" : {"_value" : "Biography information for Lord Soames of Fletching"} } , "tablingMemberConstituency" : {"_value" : "Mid Sussex"} , "tablingMemberPrinted" : [{"_value" : "Sir Nicholas Soames"} ], "uin" : "226104"} , {"_about" : "http://data.parliament.uk/resources/224635", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/224635/answer", "answerText" : {"_value" : "
The data below details the support given since the establishment of the UKTI Events and Missions Team in 2012; to gather information from further back would incur disproportionate costs.<\/p>
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Since 2012 UKTI has supported, 74 unique private nuclear companies on nine outward trade missions at a total cost of £63,500. The details are:<\/p>
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2012<\/p>
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April- nuclear decommissioning to Japan<\/p>
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November- nuclear decommissioning and waste management to Korea<\/p>
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November- nuclear decommissioning and waste management to Japan<\/p>
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2013<\/p>
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October-general nuclear mission-Korea<\/p>
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2014<\/p>
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January-mission to Korea Atomic Industrial Forum January-mission to UK-China Civil Nuclear July-mission to Nuclear Dialogue-Japan September-mission to Radiex-Japan<\/p>
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2015<\/p>
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<\/p>
November-mission to Taiwan<\/p>
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The NIA has participated in three events, Japan in April 2012; Korea in November 2012 and UK-China in January 2014.<\/p>
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<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4070", "label" : {"_value" : "Biography information for Matt Hancock"} } , "answeringMemberConstituency" : {"_value" : "West Suffolk"} , "answeringMemberPrinted" : {"_value" : "Matthew Hancock"} , "dateOfAnswer" : {"_value" : "2015-03-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-03-19T15:45:23.477Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2015-03-03", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Trade Missions: Nuclear Power"} , "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, Innovation and Skills, what support UK Trade and Investment has given to (a) the Nuclear Industry Association and (b) private nuclear companies to participate in trade missions it organised or supported in the last five years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/545", "label" : {"_value" : "Biography information for Paul Flynn"} } , "tablingMemberConstituency" : {"_value" : "Newport West"} , "tablingMemberPrinted" : [{"_value" : "Paul Flynn"} ], "uin" : "226099"} , {"_about" : "http://data.parliament.uk/resources/224636", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/224636/answer", "answerText" : {"_value" : "
The Civil Nuclear Sharing in Growth Programme has been allocated £27.3 million from the Regional Growth Fund.<\/p>
<\/p>
<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/1578", "label" : {"_value" : "Biography information for Greg Clark"} } , "answeringMemberConstituency" : {"_value" : "Tunbridge Wells"} , "answeringMemberPrinted" : {"_value" : "Greg Clark"} , "dateOfAnswer" : {"_value" : "2015-03-19", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-03-19T15:48:09.417Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "26"} , "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"} , "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"} , "date" : {"_value" : "2015-03-03", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Regional Growth Fund"} , "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, Innovation and Skills, what support the Regional Growth Fund has provided for the Civil Nuclear Sharing in Growth programme in each year since 2010 Regional Growth Fund.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/545", "label" : {"_value" : "Biography information for Paul Flynn"} } , "tablingMemberConstituency" : {"_value" : "Newport West"} , "tablingMemberPrinted" : [{"_value" : "Paul Flynn"} ], "uin" : "226100"} , {"_about" : "http://data.parliament.uk/resources/224637", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/224637/answer", "answerText" : {"_value" : "
The World Bank recognises the UK as one of the best places in the world to do business. Their latest Ease of Doing Business ranking saw the UK climb to 8th<\/sup>. This is evidence that our economic plan is delivering a more competitive economy; we are delivering on our commitment to make Britain the best place in the world to start and grow a business.<\/p> <\/p> <\/p> <\/p> There is clearly still more to do.<\/p> <\/p> <\/p> <\/p> With regard to specific action on the indicators mentioned:<\/p> <\/p> <\/p> <\/p> Starting a business<\/strong>: The UK already has an online company registration system that compares favourably with the best in the world. In their latest Doing Business report, the World Bank applauded the efficiency of the UK\u2019s company registry, Companies House, in a case study. Our Employment Allowance means no business pays the first £2000 of employers NICs, helping businesses create jobs.<\/p> <\/p> <\/p> <\/p> We have improved the tax registration system for new businesses so processing new PAYE applications takes 3 days instead of 8. We are developing a one-click registration tool that should reduce the time and procedures to register even further. Delivery for this is planned for 2017.<\/p> <\/p> <\/p> <\/p> Registering property<\/strong>: The Infrastructure Bill, which received Royal Assent on 12th<\/sup> February this year, contains provisions to enable Land Registry to provide a single digital Local Land Charges service. This service will improve access, standardise fees and improve turnaround times for property professionals and citizens. <\/p> Getting electricity<\/strong>: The Department for Business Innovation and Skills, the Department for Energy and Climate Change and the energy regulator Ofgem have worked closely to improve the provision of new electricity connections. Ofgem will be implementing measures to remove barriers to competition in the connections market later this year. Increasing competition in the connections market will improve the quality of service and should help to drive down connection costs and times.<\/p> <\/p> <\/p> <\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4070", "label" : {"_value" : "Biography information for Matt Hancock"}
}
, "answeringMemberConstituency" : {"_value" : "West Suffolk"}
, "answeringMemberPrinted" : {"_value" : "Matthew Hancock"}
, "dateOfAnswer" : {"_value" : "2015-03-09", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2015-03-09T15:10:28.337Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "26"}
, "answeringDeptShortName" : {"_value" : "Business, Innovation and Skills"}
, "answeringDeptSortName" : {"_value" : "Business, Innovation and Skills"}
, "date" : {"_value" : "2015-03-03", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "New Businesses"}
, "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, Innovation and Skills, what steps he is taking to improve the UK's ranking in the Word Bank's Doing Business survey for (a) starting a business, (b) registering property, (c) getting electricity and (d) enforcing contracts.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/116", "label" : {"_value" : "Biography information for Lord Soames of Fletching"}
}
, "tablingMemberConstituency" : {"_value" : "Mid Sussex"}
, "tablingMemberPrinted" : [{"_value" : "Sir Nicholas Soames"}
], "uin" : "226103"}
, {"_about" : "http://data.parliament.uk/resources/224638", "AnsweringBody" : [{"_value" : "Department for Business, Innovation and Skills"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/224638/answer", "answerText" : {"_value" : " The Office for National Statistics (ONS) have published experimental estimates of Multi-Factor Productivity (MFP), which is the terminology the ONS uses for total factor productivity. This is shown in Table 1.<\/p> <\/p> <\/p> <\/p> Table 2 displays an index of these data, showing cumulative growth in MFP over the last 15 years.<\/p> <\/p> <\/p> <\/p> Table 1: Annual Growth Rate of Multi-Factor Productivity <\/strong><\/p> <\/p> Year<\/strong><\/p><\/td> 1999<\/strong><\/p><\/td> 2000<\/strong><\/p><\/td> 2001<\/strong><\/p><\/td> 2002<\/strong><\/p><\/td> 2003<\/strong><\/p><\/td> 2004<\/strong><\/p><\/td> 2005<\/strong><\/p><\/td> 2006<\/strong><\/p><\/td> 2007<\/strong><\/p><\/td> 2008<\/strong><\/p><\/td> 2009<\/strong><\/p><\/td> 2010<\/strong><\/p><\/td> 2011<\/strong><\/p><\/td>
<\/p>
Enforcing contracts<\/strong>: The Department for Business Innovation and Skills has been working closely with the Ministry of Justice to improve the speed in at which contract disputes are resolved. The World Bank measures the performance of the court system in London. Central London County Court is undergoing significant transformation to deliver an improved service to court users and make best use of its administrative and judicial resources. The Ministry of Justice have set up a pilot in London where the Central London County Court acts as the multi-track triage centre for London. Previously cases were managed at the individual centres around London before being sent to CLCC for final hearing. This streamlining of the case management process should reduce the length of disputes by between 30 \u2013 90 days.<\/p>