Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will discuss with the Financial Conduct Authority and the Prudential Regulation Authority whether they will review whether the Chair and Chief Executive are still fit and proper persons to be Directors of Liverpool Victoria; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Assessing the fitness and propriety of individuals in senior positions at financial services firms are a matter for the independent financial services regulators, the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
The FCA and PRA consider their assessment on an ongoing basis and further information on the policy and its processes can be found here (https://www.fca.org.uk/publication/policy/guide-for-insurers.pdf)
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will have discussions with the the Secretary of State for Levelling Up, Housing and Communities, on removing VAT on mandatory fire safety repairs if that work is necessary to make a residential building safe from fire; and if he will make a statement.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
The supply of fire safety equipment under qualifying circumstances is already eligible for VAT relief when provided alongside the construction and renovation of residential or charitable buildings. The cost of replacing cladding can also be zero rated if it is tied to the initial construction of the building and the cladding is shown to be defective.
There are no plans to extend the reliefs already available, however, the Government keeps all taxes under constant review.
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Answer of 2 March 2021 to Question 157278, on EU Grants and Loans, what progress has been made on ensuring that UK entities are able to (a) participate in and (b) bid for EU funds for EU programmes between 2021-2027, including (i) the Multiannual Financial Framework (MFF), (ii) Horizon Europe, (iii) Euratom Research and Training and (iv) Copernicus; and if he will make a statement.
Answered by Simon Clarke
As part of the Trade and Cooperation Agreement (TCA), the UK and the EU agreed the terms for our association to Horizon Europe, Euratom Research & Training (R&T), Fusion for Energy and Copernicus for the 2021-2027 Multiannual Financial Framework. As the underpinning EU legislation was not yet adopted, a Joint Declaration set out the parties’ intention to formalise UK participation at the earliest opportunity.
Now that the EU legislation is in force, the UK has communicated to the EU that it stands ready to adopt the Protocols at the earliest opportunity. We want to strengthen the valuable and long-standing partnerships in place between British and European researchers. Frustratingly, there have been persistent delays from the EU, which we have sought to address through both formal and informal discussions, so far without result. As Lord Frost set out to the European Scrutiny Committee on 25 October, the Government sees no legal or practical reason why the UK should not be able to associate, and we cannot wait indefinitely.
Pending association being finalised, UK researchers, businesses and innovators have been able to apply to Horizon Europe and Euratom R&T calls as ‘associated candidates’ since early 2021.
To provide reassurance to UK-based applicants, my Right Honourable Friend, the Minister for Science, Research and Innovation set out, in a Written Ministerial Statement (HCWS431), the Government’s intention to guarantee funding for those eligible who have successfully bid for Horizon Europe funded activities in the first wave of calls but are unable to sign grant agreements.
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with the (a) Financial Conduct Authority and (b) Prudential Regulation Authority on who the beneficial owners of BCC Blake Bidco Limited are; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Treasury has not held any discussions with the Financial Conduct Authority (FCA), Prudential Regulation Authority, or Companies House about the beneficial owners of this company.
BCC Blake Bidco Limited is not listed in the FCA’s Financial Services Register. The Jersey Financial Services Commission’s Register shows that the company is registered in Jersey.
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with representatives of Companies House on who the beneficial owners of BCC Blake Bidco Limited are; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Treasury has not held any discussions with the Financial Conduct Authority (FCA), Prudential Regulation Authority, or Companies House about the beneficial owners of this company.
BCC Blake Bidco Limited is not listed in the FCA’s Financial Services Register. The Jersey Financial Services Commission’s Register shows that the company is registered in Jersey.
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will write to Fenchurch Advisory Partners urging them to publish the fees they have or expect to receive from the takeover of Liverpool Victoria by Bain Capital; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Regarding letters of complaint received on the proposed demutualisation of Liverpool Victoria and the sale to Bain Capital, HM Treasury has had several representations over the last few months on this issue. The exact number is not readily available information.
While the Companies (Disclosure of Auditor Remuneration and Liability Limitation Agreements) Regulations 2008 require companies to disclose fees payable to the auditor for the audit of their financial statements, there is no requirement to disclose fees payable to advisers. These are properly a matter for the company and its members.
The assessment of the proposed demutualisation and sale of Liverpool Victoria is a matter for the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), who are operationally independent from Government. The remaining questions have therefore been passed to the PRA and FCA who will respond directly to the Honourable Member by letter. Copies of the letters will be placed in the Library of the House.
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will write to FTI Consulting urging them to publish in full how much they have received for providing media and lobbying advice during the proposed demutualisation of Liverpool Victoria; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Regarding letters of complaint received on the proposed demutualisation of Liverpool Victoria and the sale to Bain Capital, HM Treasury has had several representations over the last few months on this issue. The exact number is not readily available information.
While the Companies (Disclosure of Auditor Remuneration and Liability Limitation Agreements) Regulations 2008 require companies to disclose fees payable to the auditor for the audit of their financial statements, there is no requirement to disclose fees payable to advisers. These are properly a matter for the company and its members.
The assessment of the proposed demutualisation and sale of Liverpool Victoria is a matter for the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), who are operationally independent from Government. The remaining questions have therefore been passed to the PRA and FCA who will respond directly to the Honourable Member by letter. Copies of the letters will be placed in the Library of the House.
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will write to the law firm Clifford Chance urging them to publish how much they have been paid by Liverpool Victoria to advise them on their proposed demutualisation and sale to Bain Capital.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Regarding letters of complaint received on the proposed demutualisation of Liverpool Victoria and the sale to Bain Capital, HM Treasury has had several representations over the last few months on this issue. The exact number is not readily available information.
While the Companies (Disclosure of Auditor Remuneration and Liability Limitation Agreements) Regulations 2008 require companies to disclose fees payable to the auditor for the audit of their financial statements, there is no requirement to disclose fees payable to advisers. These are properly a matter for the company and its members.
The assessment of the proposed demutualisation and sale of Liverpool Victoria is a matter for the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), who are operationally independent from Government. The remaining questions have therefore been passed to the PRA and FCA who will respond directly to the Honourable Member by letter. Copies of the letters will be placed in the Library of the House.
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will hold discussions with representatives of the Financial Conduct Authority and the Bank of England on requiring Liverpool Victoria and Bain Capital to publish the fees that their advisers in respect of the takeover are set to be paid; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Regarding letters of complaint received on the proposed demutualisation of Liverpool Victoria and the sale to Bain Capital, HM Treasury has had several representations over the last few months on this issue. The exact number is not readily available information.
While the Companies (Disclosure of Auditor Remuneration and Liability Limitation Agreements) Regulations 2008 require companies to disclose fees payable to the auditor for the audit of their financial statements, there is no requirement to disclose fees payable to advisers. These are properly a matter for the company and its members.
The assessment of the proposed demutualisation and sale of Liverpool Victoria is a matter for the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), who are operationally independent from Government. The remaining questions have therefore been passed to the PRA and FCA who will respond directly to the Honourable Member by letter. Copies of the letters will be placed in the Library of the House.