Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what plans they have to publish reports by the Insolvency Service into the collapse of the Arcadia Group.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
After a company enters administration, the administrators have three months to report to my Rt. Hon. Friend the Secretary of State on the conduct of the directors. The Insolvency Service will review the administrators’ report into Arcadia to consider whether further steps, such as conducting a detailed investigation, may be necessary. The Secretary of State has written to the Insolvency Service to request that they review the report from the administrators rigorously and expeditiously as soon as they receive it.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government when they accredited Greensill to make loans under the Bounce Back Loan Scheme; how much has been lent by Greensill through that Scheme so far; and which Government department or entity is responsible for maintaining loans by Greensill under that Scheme to related entities and groups.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Greensill Capital is not a Bounce Back Loan Scheme accredited lender. A full list of accredited lenders can be found on the British Business Bank website.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 12 November (HL9789), whether they will identify (1) the number, and (2) the value, of loans taken out under (a) the Coronavirus Business Interruption Loan Scheme, and (b) the Bounce Back Loan Scheme, in instances where a former Minister was, or is, (i) a director, (ii) an advisor, or (iii) a consultant, associated with the borrower.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The Department does not hold this information.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 12 November (HL9789), when they will publish the details of individual aid awards under (1) the Coronavirus Business Interruption Loan Scheme, and (2) the Bounce Back Loan Scheme.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
We intend to publish this information where required within the deadlines required by the European Commission.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government, further to their announcement that they have secured five million doses of Moderna's COVID-19 vaccine, whether that contract has any conditions relating (1) to the number of doses, and (2) to the date of delivery; and whether there are any material conditions that could affect availability of that vaccine.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
We are not able to disclose details of this agreement because of the commercially confidential nature of the contracts between the Government and vaccine manufacturers while commercial negotiations are ongoing.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made of whether Greensill Capital has extended Bounce Back Loans to companies that are part of, or associated with, the GFG Alliance; and whether these loans complied with the eligibility criteria set by the Bounce Back Loans scheme.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Greensill Capital is not a Bounce Back Loan Scheme accredited lender. A full list of accredited lenders can be found on the British Business Bank website.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what is the total value of Coronavirus Business Interruption Loans that (1) have interest rates set at the maximum permitted rate of 14.99 per cent per annum, (2) have interest rates set at 10.00 per cent per annum or more, and (3) have arrangement fees of more than 3.00 per cent per annum; and whether they meet or guarantee to the lending institutions all or part of these rates for the time the loan is outstanding.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The interest rate charged on a Coronavirus Business Interruption Loans (CBILS) facility varies in line with the lender’s own policies, as would be the case with any commercial facility.
(1) The total value of drawn down CBILS facilities where interest is set at 14.99 per cent or higher[1] per annum is £15,391,560.
(2) The total value of drawn down CBILS facilities where interest is set at 10.00 per cent or higher is £183,522,119.
(3) The total value of drawn down CBILS facilities with arrangement fees greater than or equal to 3.00 per cent per annum is £323,923,395.
All figures correct as of 30 September 2020.
The Government cover the first 12 months of interest payments and lender-levied charges on behalf of CBILS borrowers. The Guarantee covers lenders for the principal only.
[1] Some delivery partners accredited before the 14.99% maximum was in place can issue CBILS facilities with interest rates above 14.99%.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 17 September (HL7806), whether they have reconsidered their decision to not publish the identity of recipients of loans taken out under (1) the Coronavirus Business Interruption Loan Scheme, and (2) the Bounce Back Loan Scheme; and on what grounds, if any, they have reconsidered.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Details of individual aid awards under the Coronavirus Business Interruption Loan Scheme and Bounce Back Loan Scheme will be published where required on the European Commission’s Transparency Aid Module in due course.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government, further to the Written Answer by Lord Callanan on 17 September (HL7806), when they expect to publish the identity of recipients of loans taken out under (1) the Coronavirus Business Interruption Loan Scheme, and (2) the Bounce Back Loan Scheme; and under what conditions they would publish such information.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Details of individual aid awards under the Coronavirus Business Interruption Loan Scheme and Bounce Back Loan Scheme will be published where required on the European Commission’s Transparency Aid Module in due course.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government whether any loans from the Bounce Back Loan Scheme have been made to members of the Quintessentially Group.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Details of awards under the Bounce Back Loan Scheme will be published where required on the European Commission’s Transparency Aid Module in due course.