Asked by: Baroness Kennedy of Cradley (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of the initial public offering market over the past five years in the UK.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The government has delivered an ambitious programme of reforms that build on the UK market’s strong foundations. Recent changes, including overhauling the Prospectus and Listing regimes, have made it easier for firms to list and raise capital on UK markets.
And at the Budget in November 2025, the Chancellor went further by introducing a three-year UK Listing Relief, supporting firms to achieve higher valuations at IPO and improving their long-term growth prospects.
Asked by: Baroness Kennedy of Cradley (Labour - Life peer)
Question to the Department for Transport:
To ask His Majesty's Government what plans they have to support the building of a tram or light rail system in Derby.
Answered by Lord Hendy of Richmond Hill - Minister of State (Department for Transport)
Local transport, including light rail, is largely devolved. It is for local transport authorities to determine whether a light rail or tram scheme represents an appropriate intervention to address any local mass transit challenge or opportunity.
The Chancellor announced the £15.6 billion Transport for City Regions (TCR) settlements for 9 eligible mayoral strategic authorities on 4 June 2025. As part of this announcement East Midlands Combined County Authority (EMCCA), which includes Derby, was allocated £2 billion in local transport funding through to 2031/32. This investment aims to drive economic growth and improve access to opportunities in the region. While the Government sets the overarching objectives for the programme, TCR is devolved and Mayors have discretion over how to allocate these funds to meet local transport priorities, including mass transit.
Asked by: Baroness Kennedy of Cradley (Labour - Life peer)
Question to the Department for Transport:
To ask His Majesty's Government whether Kingston upon Hull will be connected to Bradford and Leeds with a new rail service as part of the Northern Powerhouse Rail project.
Answered by Lord Hendy of Richmond Hill - Minister of State (Department for Transport)
Our plans for Northern Powerhouse Rail (NPR) commit to regular onward services east of Leeds to Hull. Specific NPR service patterns will be confirmed in due course as the programme develops.
Asked by: Baroness Kennedy of Cradley (Labour - Life peer)
Question to the Department for Transport:
To ask His Majesty's Government what plans they have to support the building of a tram or light rail system in Coventry.
Answered by Lord Hendy of Richmond Hill - Minister of State (Department for Transport)
Local transport, including light rail, is largely devolved. It is for local transport authorities to determine whether a light rail or tram scheme represents an appropriate intervention to address any local mass transit challenge or opportunity.
The Chancellor announced the £15.6 billion Transport for City Regions (TCR) settlements for 9 eligible mayoral strategic authorities on 4 June 2025. As part of this announcement West Midlands Combined Authority (WMCA), which includes Coventry, was allocated £2.4 billion in local transport funding through to 2031/32. This investment aims to drive economic growth and improve access to opportunities in the region. While the Government sets the overarching objectives for the programme, TCR is devolved and Mayors have discretion over how to allocate these funds to meet local transport priorities, including mass transit.
WMCA has previously allocated £5m from its devolved City Region Sustainable Transport Settlement (CRSTS) to progress a mass transit route options study in Coventry.