Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure that companies comply with section 830 of the Companies Act 2006 on dividend payments; and whether he plans to (a) strengthen enforcement and (b) introduce disclosure requirements.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
Under section 830, companies may only pay a dividend if they have sufficient accumulated realised profits to make the payment. The Government intends to give the audit regulator responsibility for issuing guidance on how companies calculate their realised profits for such purposes as part of wider plans to introduce an Audit Reform and Corporate Governance Bill when Parliamentary time allows. Additionally, the Government intends in the coming months to consult on options to modernise the corporate reporting framework, which will provide an opportunity for stakeholders to give feedback on how to simplify and reduce reporting as well on possible additional disclosure requirements around realised profits.
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether he has had recent discussions with the Office for Product Safety and Standards on the enforcement of standards for e-bike (a) batteries and (b) conversion kits.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
Under existing UK product safety law, all consumer products, including e-bike batteries and conversion kits, must meet legal requirements for safety when placed on the market. Tackling unsafe e-bikes is a priority for the Office for Product Safety and Standards, in my Department. They and Local Authority Trading Standards have powers to enforce the law including removing non-compliant products from sale. OPSS has prohibited the supply of certain models of unsafe e-bike batteries, and published 22 separate product recalls for non-compliant e-bikes and similar products since 2022.
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure that online marketplaces are held accountable for the sale of (a) unsafe and (b) non-compliant e-bike products.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
UK product safety law is clear: all products must be safe before being placed on the market, including e-bikes.
The Office for Product Safety and Standards leads a national Online Marketplaces Programme of regulatory action to reduce risks from unsafe and non-compliant goods sold online. This involves a range of activities, including regulatory engagement with online marketplaces on products such as e-bikes and enforcement action where necessary.
The Government has also introduced the Product Regulation and Metrology Bill to allow updates to the product safety framework and ensure consumers are protected; recognising the increasingly important role of online supply chains.
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what assessment he has made of the potential merits of implementing the proposals of the Better Business Act campaign.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Better Business Act campaign seeks changes to Section 172 of the Companies Act 2006 to provide for company directors to deliver benefits to shareholders, society and the environment. Section 172 already enables companies to amend their articles of association to provide for this purpose, or any other corporate purpose. Section 172 also requires directors to have regard to a range of interests, including those of employees and the community and the environment. Large companies must report each year on how this has informed their directors’ decision-making. Therefore, the Government has no plans currently to amend Section 172.
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will make an assessment of the potential implications for his policies of the ruling by the Unitary Agrarian Court Number 28 in Mexico that the company Fresnillo PLC must pay damages to farmers in El Bajío for illegal extraction of gold on the community's land from 2005 to 2013.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
The Department for Business and Trade is aware of the case between the Unitary Agrarian Court and Fresnillo PLC. This is a domestic legal matter for Mexico.
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will make an assessment of the (a) effectiveness of and (b) implications for his policies of recent investor-state dispute settlements under the bilateral investment treaty with Colombia; and whether he plans to retain that treaty.
Answered by Douglas Alexander - Minister of State (Cabinet Office)
The Government regards the UK-Colombia Bilateral Investment Treaty (BIT) as playing an important role in the investment relationship between our two countries. The stock of total investment between the UK and Colombia was £6.8 billion in 2023. The BIT contains legally binding investment protection commitments which ensure UK and Colombian investors are treated in line with the rule of law, and are protected against unfair, arbitrary or discriminatory treatment, and expropriation without adequate compensation.
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if the Prime Minister will create a Minister for Manufacturing post in the Department for Business and Trade.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
I am responsible for manufacturing as Minister for Industry.
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether she plans to implement tariffs on vehicles produced in China.
Answered by Greg Hands
It has not proved possible to respond to the hon. Member in the time available before Prorogation
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps his Department is taking to help tackle companies that make employees redundant without (a) giving notice and (b) following a consultation process.
Answered by Kevin Hollinrake
While we recognise that tough decisions such as redundancies remain a commercial matter, it’s important that employees are treated fairly and that correct process is followed.
The Government has a robust package of measures to address non-compliance including:
Whether an employer met consultation requirements for collective redundancy would be a matter for an employment tribunal to decide, having heard detailed evidence on the facts of the case.
Asked by: Fabian Hamilton (Labour - Leeds North East)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if she will take steps to ensure that Trading Standards have adequate resources to investigate all reports it is provided on the alleged operation of rogue traders.
Answered by Kevin Hollinrake
Local authorities across England, Scotland and Wales are independent from central government and are responsible for determining their resourcing priorities in accordance with the needs of the local electorate.
The majority of Government funding is not ringfenced in recognition of local authorities being best placed to understand local priorities including those relating to rogue traders.
The Department for Business and Trade provides additional funding through the National Trading Standards Board (NTSB) and Trading Standards Scotland (TSS) to prioritise and coordinate national and regional consumer enforcement in England, Wales and Scotland respectively.