Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the Ministry of Defence:
To ask His Majesty's Government what progress they have made in providing the United Kingdom with the ability to deliver airborne nuclear weapons, and what is the projected timetable of such capability.
Answered by Lord Coaker - Minister of State (Ministry of Defence)
The United Kingdom remains committed to its obligations under NATO's nuclear deterrence framework. Further details on the delivery of defence capabilities and timelines, including those announced in the Strategic Defence Review, will be communicated in the forthcoming Defence Investment Plan.
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government how many people are employed by (1) the Financial Reporting Council, and (2) the Competition and Markets Authority.
Answered by Lord Leong - Lord in Waiting (HM Household) (Whip)
The latest available data is:
(1) The Financial Reporting Council – 459 staff – taken from 2024/25 Annual Report and Accounts published 22 July 2025; and
(2) The Competition and Markets Authority – 1,112 staff – taken from CMA: workforce management information published 31 July 2025.
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the Ministry of Defence:
To ask His Majesty's Government whether they have banned Israeli students from attending the Royal College of Defence Studies because they consider Israel to have committed war crimes in Gaza.
Answered by Lord Coaker - Minister of State (Ministry of Defence)
UK military educational courses have long been open to personnel from a wide range of countries, with all UK military courses emphasising compliance with international humanitarian law.
However, the Israeli Government’s decision to further escalate its military operation in Gaza is wrong. There must be a diplomatic solution to end this war now, with an immediate ceasefire, the return of the hostages and a surge in humanitarian aid to the people of Gaza. We have therefore paused future Israeli participation in UK-run courses.
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the Ministry of Defence:
To ask His Majesty's Government what assessment they have made of the comments by Vice-Admiral Angus Topshee, commander of the Royal Canadian Navy, that there is a likely future scenario where the oceans are “effectively transparent and submarines are no longer allowed to hide”.
Answered by Lord Coaker - Minister of State (Ministry of Defence)
We recognise that there are increasing threats to maritime security, including the underwater battlespace, from technological change and the proliferation of advanced capabilities. Assessments of these threats directly inform how we pursue technological advancements across all domains, including in the way we design, build and operate our submarines, to ensure the effectiveness of our capabilities in complex and challenging environments.
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government how many people are employed by the Financial Conduct Authority.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The FCA will respond to the Noble Lord by letter, and a copy of the letter will be placed in the Library of the House of Lords.
Employment figures for the year ending March 2025 can be found in the FCA’s Annual Report and Accounts: https://www.fca.org.uk/publication/annual-reports/annual-report-2024-25.pdf
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the Ministry of Defence:
To ask His Majesty's Government whether they have plans to develop battlefield nuclear weapons.
Answered by Lord Coaker - Minister of State (Ministry of Defence)
It will remain the case that none of the UK’s nuclear weapons are designed for tactical use during a conflict.
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government how tax relief through independent savings accounts allowing investment overseas contributes to (1) the UK economy, or (2) the growth agenda.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government is committed to incentivising greater saving and investment, to help people save for their future goals and build greater financial resilience. The Government offers a generous tax treatment on Individual Savings Accounts (ISAs) to support people of all incomes and at all stages of life to save.
Individuals can currently save or invest up to £20,000 per year in an ISA, with all income and gains received in the wrapper received tax-free.
The Financial Services Growth & Competitiveness Strategy Call for Evidence, which closed on 12 December, asked how increasing retail participation in capital markets could support long-term sustainable growth within the sector and the wider economy. The call for evidence welcomed further evidence on how to improve consumer engagement with investing, and the Government is considering the feedback provided.
The Government is looking at options for reforms to ISAs that get the balance right between cash and equities to earn better returns for savers, boost the culture of retail investment, and support the growth mission.
The Government keeps all aspects of tax and savings policy under review.
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the Ministry of Defence:
To ask His Majesty's Government what assessment they have made of the availability of submarine personnel to crew the continuous at-sea nuclear deterrent currently and in future years.
Answered by Lord Coaker - Minister of State (Ministry of Defence)
The Royal Navy has successfully maintained Operation RELENTLESS – the Continuous At Sea Deterrent – without interruption for over 56 years. We do not disclose details of the operation, including the duration of time spent at sea, as such information could be used to undermine the security and capability of the mission and our personnel.
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the Department for Business and Trade:
To ask His Majesty's Government what assessment they have made of the entitlement of a shareholder to choose whether to attend public company annual general meetings in person or digitally.
Answered by Baroness Jones of Whitchurch
It is clear that the use of digital or “virtual” platforms can provide benefits to both companies and shareholders in the context of annual general meetings and indeed “hybrid” meetings, which provide a combination of physical and virtual access, are already relatively commonplace. While the Government committed last Autumn to clarifying the law around wholly virtual general meetings, we fully recognise the importance of shareholder rights. Therefore, the appropriate safeguards will be considered as part of any legislative changes. My officials will continue to develop this policy and work towards a position that balances the interests of all relevant stakeholders.
Asked by: Lord Lee of Trafford (Liberal Democrat - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what plans they have to increase domestic ownership of UK equities.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government wants to see more consumers participate in capital markets and benefit from the long-term financial security that investing can provide.
The Financial Services Growth & Competitiveness Strategy Call for Evidence, which closed on 12 December, asked how increasing retail participation in capital markets could support long-term sustainable growth within the sector and the wider economy. The call for evidence welcomed further evidence on how to improve consumer engagement with investing, and the Government is considering the feedback provided.
More broadly, the Government is committed to boosting our capital markets to deliver growth across the UK and is pursuing ambitious reforms to make our markets even more competitive. For example, reforms to the Prospectus rules will give investors, including retail investors, access to better quality information and so participate more easily in the capital raising process. The Government is also working with the FCA to review the boundary between financial advice and guidance, to ensure consumers get the support they need to make decisions about their finances.
The Pensions Investment Review has put forward ambitious proposals to reform the UK pension system, which includes encouraging further pension investment into UK assets to boost growth across the country, and will publish its final report in the Spring.