Kevin Brennan

I refer the hon. Member to my answer to Question 910500 on 13 January.

The Government knows that the pandemic has been hard for pregnant women, their partners and their families. The NHS continues to work hard to support and care for women safely through pregnancy, birth and the period afterwards, during this pandemic.

There is no reason why the Green Investment Bank (GIB) could not invest alongside the EFSI whether GIB is in public or private hands, as it seeks to gather the range of financing necessary to sponsor projects.

The Government has received a small number of representations from interested parties since the Government’s announcement to bring in private capital to the Green Investment Bank (GIB) in June 2015.

My Rt hon Friend the Secretary of State for Business, Innovation and Skills met my hon Friend the Member for Beverley and Holderness (Graham Stuart) and representatives from E3G and Aldersgate Group in October, and I have met with the Member separately this month. The Government also meets GIB management regularly to discuss this and other issues.

The Government is currently exploring with the Office of National Statistics whether there is scope to implement a special share style arrangement in a way that would not amount to a form of state control.

The privatisation of the Green Investment Bank will allow the company to increase its investments in the UK green economy. It will be able to raise more capital free from being on the Government balance sheet. It will also be free from State Aid restrictions on the green investments it can make.

A body such as the Green Investment Bank can only be classified to the private sector if it is not subject to significant government control over its corporate policy. That includes any control Government has over the body in terms of legislation, regulation and its contractual agreements.

Government funding for the Green Investment Bank (GIB) for the 2016-17 period and beyond has now been announced as part of the current spending review. This is a good settlement for GIB and provides what GIB management wanted by allowing for 100% funding of GIB’s investments to the point of majority sale, assuming a sale in the next financial year.

As set out in the answer to question 22471 on 18 January, the Government is moving UK Green Investment Bank plc (GIB) into private ownership so it can continue operating in the same way it does now only funded with private capital rather than relying on taxpayers’ support. The detailed background and supporting case for this move was set out in the policy statement we published on 18 November. Decisions on the proposed sale are being taken in accordance with best practice to ensure all available options are properly examined in a detailed business case and that a robust valuation process is followed. The process does not involve preparation of an environmental impact assessment as we do not envisage any direct environmental or regulatory impacts of a majority sale of GIB, or changes to pre-existing policy goals for GIB.

The Green Investment Bank (GIB) estimates that approximately 5700 jobs have been created during the construction phases of their projects and approximately 1000 jobs have been created during the operational phase of their projects. Apprenticeship numbers are not recorded separately from other jobs but any apprenticeship roles would be included in the figures mentioned above.

We would expect a privatised GIB to continue to monitor the green and other benefits of their investments, such as job creation.

Private investors will be buying the Green Investment Bank company and employees will continue to be employed by that company. No transfer arrangements are therefore required.

Potential investment opportunities identified in the forward business plan of UK Green Investment Bank (GIB), and the company’s estimates of what level of financing it might commit to these, are commercially sensitive matters and are not made public. Potential investors in GIB will be invited to consider the company’s business plan in accordance with appropriate confidentiality agreements.

Irrespective of whether GIB remains in Government ownership or is moved into the private sector, there is no way to guarantee that any of the projects identified in GIB’s business plan will in fact proceed nor any certainty that GIB will be involved in their financing if they do - they remain only potential investment opportunities.

Details of the commitments GIB has entered into to date can be found on the company’s website at: http://www.greeninvestmentbank.com/our-investments/.

We are working on the basis that UK Green Investment Bank plc (GIB) plans to invest at a rate of around £800m per year over the period to 2020 in a range of green projects.

We believe that moving GIB into private ownership is the best way to ensure the company has the funding it needs to achieve this annual investment rate. This is because private ownership will give GIB access to much more capital from a much wider range of sources than if it remained in Government hands where it would have to compete for funding against all other Government spending needs.

Moving GIB into the private sector will also mean GIB will no longer be subject to state aid controls, giving it scope to invest in a wider range of green sectors and types of project than if it were to remain state funded.

The preliminary feedback to which my earlier answer refers is the outcome of private informal conversations that the Green Investment Bank (GIB) and our financial advisers have had with a number of potential investors on an in‑confidence basis to help gauge market appetite for acquiring a stake in GIB. The substance of these conversations is commercially sensitive and not for publication. The Government does, though, intend to report to Parliament setting out our detailed plans for a sale and to provide a further report following completion of a transaction and any subsequent transactions.

The Government is moving UK Green Investment Bank plc (GIB) into private ownership so it can continue operating in the same way it does now only funded with private capital rather than relying on taxpayers’ support. The detailed background and supporting case for this move was set out in the policy statement we published on 18 November. Decisions on the proposed sale are being taken in accordance with best practice to ensure all available options are properly examined in a detailed business case and that a robust valuation process is followed. The process does not involve preparation of an impact assessment as there are no regulatory or significant cost impacts of a majority sale of GIB, or changes to pre-existing policy goals for GIB.

The Government first announced it was exploring options for bringing private capital into UK Green investment Bank plc (GIB) in the Autumn Statement 2013. It was subsequently confirmed in both the 2014 Autumn Statement and 2015 Budget debate that work was progressing on this matter.

My Rt hon Friend the Secretary of State for Business, Innovation and Skills set out firm proposals to move GIB into private ownership in a written ministerial statement of 25 June.

On 15 October 2015, My Rt hon Friend the Secretary of State for Business, Innovation and Skills made a further written ministerial statement in order to provide an update on work to implement the proposals and the need to repeal legislation relating to GIB.

On 18 November, the Government published a detailed policy document on the future of GIB setting out the case for moving the company into private ownership and seeking to address a number of concerns that had been expressed about this.

In support of these various publications and announcements, there has been substantial engagement and correspondence on the matter with environmental groups, stakeholders, members of Parliament and the Devolved Administrations, particularly the Scottish Government which raised a number of specific concerns. Much of the stakeholder engagement activity has been undertaken by GIB itself in view of its strong existing relationships with relevant stakeholders.

A consultation was held during summer 2015 on proposals to increase the maximum custodial sentence for online copyright infringement from two to ten years, to harmonise it with the penalty available for physical infringement. The responses to that consultation have been analysed and officials at the IPO are now giving consideration to future direction and timing and will advise Ministers accordingly.

The Government’s top priority is to continue creating a highly competitive business environment that makes the UK an attractive location for new manufacturing investment in sustainable processes. We are protecting spending on innovation and the cutting-edge smart manufacturing technologies that will encourage digital, virtual, resource-efficient factories in the future. The High Value Manufacturing Catapult has skills, expertise and equipment available to help partner companies improve the efficiency and sustainability of their processes. As part of Autumn Statement 2015, my Rt Hon Friend the Chancellor of the Exchequer announced that funding to the nine existing Catapults would increase in real terms over the Spending Review period ensuring the UK remains a world leader in high-value manufacturing.

In addition, we are taking into account UK business opportunities during negotiations on the EU Circular Economy proposals which include aims to improve business sustainability, resource and energy efficiency.

At the Summer Budget 2015, the Chancellor announced a review of the business energy efficiency tax landscape and Government launched a consultation in September. The consultation set out proposals for delivering a simpler and more stable environment for business that will reduce administrative costs and improve incentives to invest in energy efficiency. This will help increase the productivity of UK businesses, save carbon emissions and ensure secure energy supplies. The Government is currently considering all consultation responses and is likely to publish its formal response at Budget 2016.

I would be delighted to receive further representations from the Manufacturing Commission on their recent Industrial Evolution report.

The Government’s top priority is to continue creating a highly competitive business environment that makes the UK an attractive location for new manufacturing investment in sustainable processes. We are protecting spending on innovation and the cutting-edge smart manufacturing technologies that will encourage digital, virtual, resource-efficient factories in the future. The High Value Manufacturing Catapult has skills, expertise and equipment available to help partner companies improve the efficiency and sustainability of their processes. As part of Autumn Statement 2015, my Rt Hon Friend the Chancellor of the Exchequer announced that funding to the nine existing Catapults would increase in real terms over the Spending Review period ensuring the UK remains a world leader in high-value manufacturing.

In addition, we are taking into account UK business opportunities during negotiations on the EU Circular Economy proposals which include aims to improve business sustainability, resource and energy efficiency.

At the Summer Budget 2015, the Chancellor announced a review of the business energy efficiency tax landscape and Government launched a consultation in September. The consultation set out proposals for delivering a simpler and more stable environment for business that will reduce administrative costs and improve incentives to invest in energy efficiency. This will help increase the productivity of UK businesses, save carbon emissions and ensure secure energy supplies. The Government is currently considering all consultation responses and is likely to publish its formal response at Budget 2016.

I would be delighted to receive further representations from the Manufacturing Commission on their recent Industrial Evolution report.

The Government’s top priority is to continue creating a highly competitive business environment that makes the UK an attractive location for new manufacturing investment in sustainable processes. We are protecting spending on innovation and the cutting-edge smart manufacturing technologies that will encourage digital, virtual, resource-efficient factories in the future. The High Value Manufacturing Catapult has skills, expertise and equipment available to help partner companies improve the efficiency and sustainability of their processes. As part of Autumn Statement 2015, my Rt Hon Friend the Chancellor of the Exchequer announced that funding to the nine existing Catapults would increase in real terms over the Spending Review period ensuring the UK remains a world leader in high-value manufacturing.

In addition, we are taking into account UK business opportunities during negotiations on the EU Circular Economy proposals which include aims to improve business sustainability, resource and energy efficiency.

At the Summer Budget 2015, the Chancellor announced a review of the business energy efficiency tax landscape and Government launched a consultation in September. The consultation set out proposals for delivering a simpler and more stable environment for business that will reduce administrative costs and improve incentives to invest in energy efficiency. This will help increase the productivity of UK businesses, save carbon emissions and ensure secure energy supplies. The Government is currently considering all consultation responses and is likely to publish its formal response at Budget 2016.

I would be delighted to receive further representations from the Manufacturing Commission on their recent Industrial Evolution report.

The proposals in the Bill are not about party funding. The Trade Union Bill is about employment and industrial relations. We are introducing a greater level of transparency into union activities by requiring union members to make an active decision to contribute to a union’s political fund.

If union members want a political fund, this will not necessarily lead to a reduction in the funds available. Therefore no assessment has been made in relation to the impact on the finances of any political party.

The Growth Accelerator was launched as our economy was still recovering from the worst recession this country had faced in 100 years, presided over by the hon Member’s party. An interim evaluation of the Growth Accelerator programme was published in November 2014.

Thanks to the difficult decisions made by this government and the last, we now have the fastest growing economy in the developed world and a record number of businesses and as part of our continued commitment to live within our means and pay down our debts, we took the decision to discontinue the Business Growth Service in the Spending Review.

The Department for Business, Innovation and Skills continues to have discussions with businesses and their representatives. They have told us that there is strong appetite in the private sector to fill the gap in the market and develop sustainable offers of support.

We do not expect closure of the Business Growth Service to have an impact on the growth of Small and Medium sized Enterprises or the Northern Powerhouse.

We do not expect closure of the Business Growth Service to have an impact on the growth of Small and Medium sized Enterprises or the Northern Powerhouse.

Skills policy is a devolved area so the devolved administrations will continue to have control over how to support businesses through training and apprenticeships.

We are working closely with the Welsh Government and other devolved administrations to ensure they get their fair share of the levy and can work out how best to use it to complement their own apprenticeships and skills policies.

We will engage with skills ministers in the devolved administrations, including Julie James AC/AM, to do all we can to make the levy work for employers and would-be apprentices across the UK.

The proposals in the Bill are not about party funding. The Trade Union Bill is about employment and industrial relations. We are introducing a greater level of transparency into union activities by requiring union members to make an active decision to contribute to a union’s political fund.

If union members want a political fund, this will not necessarily lead to a reduction in the funds available. Therefore no assessment has been made in relation to the impact on the finances of any political party.

An independent assessment of the potential economic impact of the Transatlantic Trade and Investment Partnership (TTIP) on the UK as a whole was carried out by the Centre for Economic Policy Research (CEPR). The CEPR analysis includes an assessment of the impact on twenty broad sectors of the economy, with estimated impacts on output, trade and shifts in employment. This can be found on the GOV.UK website.

The CEPR assessment demonstrated that TTIP offers an enormous economic benefit: in growth, exports and high quality jobs, worth up to £10 billion a year. Small businesses in particular will benefit from removing unnecessary barriers to trade.

Decisions on the size of stake retained in the Green Investment Bank will be taken on the basis of what achieves best value for money for the taxpayer.

The Government allocated up to £3.8 billion of funds to Green Investment Bank (GIB) for investment in the period to March 2016. To date, GIB has made commitments totalling £2.1billion. Government will fund these and any further commitments GIB enters into during the current year to March 2016.

GIB’s funding needs for the year 2016/17 are being considered as part of the current spending review and the outcome will be announced later in the year.

My Rt hon Friend the Secretary of State for Business Innovation and Skills has engaged with the European Commission and our European partners. He has spoken with a number of European Commissioners in Brussels; Commissioner Cecilia Malmstrom (Trade), Commissioner Elzbieta Bienkowska (Internal Market) and Vice President Jyrki Katainen (Jobs and Competitiveness), and stressed the importance of this issue. He has had positive talks with the Competition Commissioner Margrethe Vestager on progressing the approval of the UK’s Energy Intensive Industries compensation scheme.

I raised the issue with Matthias Machnig, State Secretary for the German Ministry of Economic Affairs and Energy. In addition, the Secretary of State hasraised the issue with his EU counterparts, including those in Luxembourg, France, Italy and Spain. ​Hecalled for an urgent EU Council meeting on steel, and I am pleased that the Luxembourg Presidency has scheduled a Competitiveness Council on9 November specifically to discuss the EU steel industry.

Green investment is what the Green Investment Bank (GIB) does and is where its value lies. It is clear from preliminary feedback that potential investors are interested in GIB precisely because of its unique green specialism and its existing forward business plan and pipeline of green projects. Investors will have sound commercial reasons to maintain GIB’s green focus and continue operating in accordance with its clearly stated green principles and highly transparent and robust green reporting practices.

As a key part of any sale discussions, potential investors will be asked to confirm their commitment to these values and to set out how they propose to protect them. We envisage this would involve new shareholders agreeing to:

• ensure GIB continues to invest in a way that achieves a positive green impact; and
• maintain GIB’s existing standards for reporting on its green investment performance as well as continue providing for independent assurance of this.

It is important to understand Government could not impose binding conditions on future owners of GIB to act in a particular way while also securing our key objective of removing state control over GIB so it can be reclassified to the private sector.

The government has put paying down our debt while investing in infrastructure at the heart of our long term economic plan. The sale proceeds will therefore help us deliver on both those objectives.

Proceeds will depend on the size of stake sold and the outcome of negotiations with investors about the value of the company. We will need to be satisfied any transaction represents value for money for the taxpayer.

Figures for patents applied for and granted in different jurisdictions can be obtained from the website of the World Intellectual Property Organisation (www.wipo.int), which collates the figures from intellectual property offices around the world.

The table shows the number of patents granted by national offices and by the European Patent Office (EPO) as recorded by WIPO, for both resident and non-resident applicants.

Many applicants choose to apply for patent protection in the UK and other European states via the EPO. However these are not recorded as grants for the individual countries in the table. According to the EPO around 75% of granted EPs take effect in the UK.

The number of granted patents in any one jurisdiction is dependent on many factors including applicants’ business models, local market structure, and the legal requirements of the jurisdiction, since patent law varies. It also reflects the capacity of patent offices to process applications.

Source: WIPO statistics database. Last updated: March 2015

The UK will examine the Commission’s legal analysis and proposal on addressing the commitment in article 15 of China’s protocol of accession to the World Trade Organisation when it is made available. The UK fully supports the China-EU 2020 Strategic Agenda for Cooperation.

The Department for Business, Innovation and Skills were given final details of the planned closures and associated redundancies on 8 October on a commercially sensitive basis. Our main priority now is to support the workers and the families of those who have lost their jobs. We have established a local task force led by Liz Redfern, leader of North Lincolnshire Council, to consider what action needs to be taken to support the local economy and related supply chain following this announcement and the Government stands ready to provide help.

We know the SSI Redcar plant lost over £600 million in over three years. When the company went into liquidation, the Official Receiver bought supplies to keep certain operations, such as the coke ovens, going in the hope of finding a commercial buyer.

Unfortunately, no commercial buyer could be found to maintain operations at the plant. While this was deeply disappointing, with such large losses and debts, and the price of steel produced at SSI expected to stay depressed for some considerable time, it was perhaps not surprising.

It is too early to say what the costs of preparing the site for redevelopment will be. This will depend on the state the site is left in following liquidation, the future use of the site and any private sector interest in it, which could generate value to offset redevelopment costs.

The Government is providing the Official Receiver with the funds and support necessary to deliver a safe liquidation of SSI.

We received confirmation of these developments when PwC announced on 19^th October 2015 that a team of Administrators, partners and directors from PwC had been appointed Joint Administrators over certain companies within the Caparo Industries group.

There is some flexibility to meet statutory redundancy payments from the package, but the majority of the fund will go towards supporting training, small businesses and the local economy. Ministers were clear on the components of the package when they first briefed the local taskforce earlier this month. The task force has already submitted proposals for elements of this funding to support economic regeneration in the area which the Department is now considering.

The budget for the Employment Agency Standards inspectorate for 2015-16 is £0.5m.

Eight financial penalties have been imposed on employers for aggravated breach of employment law, under section 16 of the Enterprise and Regulatory Reform Act 2013, since its introduction on 6 April 2014.

To date, two penalties have been paid and six remain unpaid although all penalties were imposed this year and further action is being considered.

The Government believes that naming schemes can be a useful tool for encouraging compliance with legislation. For example, a naming scheme for non-compliance with the National Minimum Wage has been in place since October 2013 and has named 285 employers to date.

The Small Business, Enterprise and Employment Act 2015 introduced a new financial penalty for non-payment of employment tribunal awards to encourage the full and prompt payment of awards. The Government is considering what other levers could be used to support the effectiveness of this measure, including the potential of a naming scheme.

The average National Student Survey response rates from students on initial teacher training courses in English higher education institutions are as follows:

Note: The data includes only those students that are fundable by the National College of Teaching and Learning.