Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Levelling Up, Housing & Communities:
To ask Her Majesty's Government what quantitative measure or measures they will use to determine the success of their levelling up policies.
Answered by Lord Greenhalgh
Levelling up is at the heart of the Government’s agenda to build back better after the pandemic and deliver for the people of the UK. The Government will publish a White Paper in due course that will set out our plans in more detail.
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, if any, to abolish the Cornwall and Isles of Scilly Local Enterprise Partnership; if they have such plans, to which body the Partnership's responsibilities would be transferred; and where it would be based.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
The Government is hugely grateful for the work LEPs have done over the last ten years to support their local economies, including through the Local Growth Fund, Growth Hubs and giving valuable insight to local and national government. Earlier this year the Budget set out significant changes to the way local growth investments are supported, decentralising power and working more directly with local government across the United Kingdom. A review of the LEP was announced at the Spring Budget with the intention to state the Government’s plans around the role of LEPs in the forthcoming White Paper and at the Spending Review.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government whether will release the proposal sent by the Treasury to supply chain financiers to be incorporated in the Covid Corporate Financing Facility fund, as referred to by Rt Hon David Cameron in evidence to the House of Commons Treasury Select Committee on 13 May.
Answered by Lord Agnew of Oulton
HM Treasury has provided both the call for evidence document which it circulated seeking views on a potential adjustment to the CCFF for supply chain finance and the feedback statement provided after the consultation closed to the Treasury Committee, and they have been published here:
https://committees.parliament.uk/publications/5758/documents/66074/default/
Asked by: Lord Myners (Crossbench - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government whether they plan to hold an inquiry into (1) the granting of a banking licence to Wyelands Bank, and (2) its subsequent supervision by the Prudential Regulation Authority.
Answered by Lord Agnew of Oulton
Since the financial crisis, we have implemented sweeping reforms to financial regulation. Through the Financial Services Act 2012, we dismantled the failed tripartite system, and replaced it with a set of regulators with clear objectives and responsibilities, with the Prudential Regulation Authority (PRA) responsible for the prudential supervision of the UK banking sector, and the Financial Conduct Authority (FCA) for ensuring proper conduct in line with UK financial regulations.
Wyelands Bank remains authorised by the PRA and regulated by the PRA and the FCA; however, as shown on the Financial Services Register, its permission to perform regulated activities is subject to limitations.
Although HM Treasury does not comment on supervisory matters, we continuously monitor risks across the financial sector and escalate our response where appropriate in coordination with the independent financial authorities – the FCA, PRA and Bank of England – as well as relevant government departments.
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 27 April (HL14881), whether they will now answer the question put, namely, how much they have paid or are obliged to pay Greensill Capital in year one interest payments made under the Coronavirus Business Interruption Loan Scheme; what percentage by number and value of such loans extended by Greensill Capital involve higher interest rates than from the average of lenders; and what is the number and value of loans where the interest rate exceeded 14.9 per cent.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Recipients of any Coronavirus Business Interruption Loan Scheme (CBILS) loans made by any lender are entitled to apply for business interruption payments from the Government which cover the interest and any lender-levied fees in the first 12 months of any CBILS facility.
We are unable to provide of a breakdown of CBILS data by lender as this is commercially sensitive for lenders and borrowers. However, data on individual loans 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 28 April (HL15066), whether they will now answer the question put, namely, how quickly after accreditation Greensill Capital disbursed Coronavirus Business Interruption Loan Scheme funds.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Greensill Capital were approved by the British Business Bank in June last year to provide finance through the Coronavirus Business Interruption Loan Scheme (CBILS), based on criteria set out in the CBILS “Request for Proposals”.
The British Business Bank is currently undertaking an investigation into Greensill’s lending under the Covid schemes and as such it would not be appropriate to comment on its lending at this time.
While the Bank investigates Greensill’s position, it remains an accredited lender for CBILS, although it has not been able to originate new lending since October 2020.
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 29 April (HL15063), what assessment they have made of the impact of the publication by the Bank of England of a Written Submission to the House of Commons Treasury Select Committee which refers to its communications with German Financial Regulators in the matter of Greensill Bank and Greensill Capital on the accuracy of the Written Answer.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
I refer the Noble Lord to the answer I gave him on 29 April 2021 to Question HL15063.
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 obligations under the European Commission's State Aid Transparency Award Module, whether they plan to publish details of (1) the identity of borrowers, (2) the amounts advanced, and (3) the date of the advances from Greensill Capital, made under the Coronavirus Business Interruption Loan Scheme; and if not, why not.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Details of facilities made available under the Coronavirus Business Interruption Loan Scheme will be published where required on the European Commission’s Transparency Aid Module. Further information can be found on the British Business Bank’s website.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Cabinet Office:
To ask Her Majesty's Government, further to the Written Answer by Lord True on 29 April (HL15167), whether they will now answer the question put, namely, further to the summary report published by the Registrar of Consultant Lobbyists on 26 March following its investigation into Rt Hon David Cameron, whether the Registrar had sight of any contract of employment between Mr Cameron and Greensill companies; and whether (1) any such contracts, or (2) related job descriptions, made any reference to lobbying duties.
Answered by Lord True - Leader of the House of Lords and Lord Privy Seal
As outlined in my response on 29 April, the Registrar of Consultant Lobbyists is a statutory independent office holder responsible for maintaining the lobbying register. The Registrar's investigations and decisions must be made independently of the Government.
Details of the Registrar’s investigations are published on the website of the Office of the Registrar of Consultant Lobbyists at https://registrarofconsultantlobbyists.org.uk and his Office can be contacted at enquiries@orcl.gov.uk.
Asked by: Lord Myners (Crossbench - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government whether Nigel Boardman is the chair of the Audit, Risk and Assurance Committee at the Department for Business, Energy and Industrial Strategy; and whether that Committee is responsible for overseeing the risk audit and credit functionality at the British Business Bank.
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
Nigel Boardman is a non-executive board member of the Department for Business, Energy and Industrial Strategy (BEIS) and the Chair of the Audit and Risk Assurance Committee (ARAC).
The British Business Bank (BBB) is an operationally independent arm’s length body of Government. As such, and in accordance with the UK Corporate Governance Code, BBB has separate independent Audit and Risk Committees comprising of independent non-executive directors. BBB’s Board is responsible for internal controls and risk management systems in BBB. Through the governance statement in BBB’s Annual Report and Accounts there is a requirement for BBB to provide assurances to the Government and other stakeholders on performance and insight on BBB’s risk profile, the responses to the identified and emerging risks and how risks have been successfully tackled.