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Written Question
Business: Income
Monday 14th March 2022

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent estimate he has made of the number of UK-based businesses with an annual turnover of between (a) £10,000 and £20,000, (b) £21,000 and £30,000, (c) £31,000 and £40,000, (d) £50,000 and £60,000 and (e) £70,000 and £85,000 in each of the last five years.

Answered by Paul Scully

The Department of Business, Energy and Industrial Strategy does not hold data on the number of UK-based businesses with an annual turnover at the intervals provided in the question.

The Office for National Statistics publishes annual data on UK-based business with an annual turnover of between (a) £0-£49,000, (b) £50,000-£99,000, (c) £100,000-£249,000 etc.[1]

[1] ONS, UK Business: Activity, Size and Location (Table 11)


Written Question
British Business Bank
Friday 4th March 2022

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans his Department has to help support the British Business Bank strengthen its approach to countering fraud.

Answered by Paul Scully

The Department already supports the British Business Bank (BBB) in its counter fraud activities and will continue to do so.

We work in partnership with BBB to support their compliance with the Government Functional Standards in Counter Fraud including the:-

  • Detection and Measurement of fraud,
  • Fraud Risk Assessments,
  • Measurement of fraud controls,
  • Investigation of fraud and
  • High level fraud analysis.

Further, we are working to strengthen the future approach to fraud. The department is currently working with BBB on an updated fraud strategy to address the challenges associated with the Bounce Back Loan and which for instance includes:-

  • Improved Management Information
  • Enhanced enforcement action
  • How insight from current schemes can be used to prevent fraud in future schemes administered by BBB on behalf of BEIS.

Written Question
British Business Bank
Friday 4th March 2022

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department has made an assessment of the potential merits of the British Business Bank being required to set higher standards for lenders than the statutory minimum because public money is at stake.

Answered by Paul Scully

Lenders accredited to deliver the Bounce Back Loan Scheme, Coronavirus Business Interruption Loan Scheme and Coronavirus Large Business Interruption Loan Scheme are subject to the terms of Guarantee Agreements, which they must abide by to be eligible to make a claim under the Government guarantee.

The recovery principles outlined in these agreements are no less stringent than those applied to standard commercial lending.


Written Question
British Business Bank
Friday 4th March 2022

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department plans to take steps to tackle disparities in basic lender performance of the British Business Bank, in response to some lenders putting in additional checks to counter fraud, while others did not.

Answered by Paul Scully

All lenders continue to be subject to a robust audit and assurance process by the British Business Bank. If lenders don’t meet their obligations in the Guarantee Agreement the Bank can take remedial action including cancellation of the guarantee.


Written Question
Directors: Money Laundering
Thursday 10th February 2022

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to ensure strict anti-money laundering and identity checks for directors are in place at the point of company formation on Companies House.

Answered by Paul Scully

The Government has already committed to introduce identity verification for all directors at the point of incorporation with Companies House. Third parties that seek to form companies are already required to be supervised for anti-money laundering purposes. Under the reforms announced by the Government in September 2020, third parties will be required to register with Companies House and have their supervision confirmed before they will be permitted to request company formations.


Written Question
Business: Coronavirus
Tuesday 8th February 2022

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will provide a full list of the lenders to the (a) Bounce Back Loan Scheme, (b) Covid Business Interruption Loan Scheme and (c) Covid Large Business Interruption Loan Scheme; and which lenders have made a disproportionately high number of loans to (i) dissolved entities or (ii) entities incorporated since the outbreak of covid-19.

Answered by Paul Scully

The Department and the British Business Bank continue to work with lenders to identify and address all types of fraud perpetrated through the Covid Loan Schemes. For example, under the Bank’s Guarantee Assurance Analytics programme, BBLS lenders are investigating several thousand facilities with potential data inconsistencies, including regarding incorporation dates.

We are unable to disclose the rates of indicators of suspected fraud by individual lender at this time due to the commercially sensitive nature of this information.

Full lists of all accredited lenders as at scheme closures on 31 March 2021 are as follows:

CBILS

BBLS

CLBILS

ABN AMRO

Bank of Scotland

Bank of Scotland

Aldermore

Barclays

Barclays

ART Business Loans

Clydesdale / Yorkshire Banks

Clydesdale / Yorkshire Bank

AskIf

Danske Bank

Danske Bank

Bank of Ireland UK

HSBC

HSBC UK

Bank of Scotland

Lloyds Bank

Lloyds Bank

Barclays

NatWest

NatWest

BCRS Business Loans

RBS

RBS

Business Enterprise Fund

Santander

Santander

Calverton Finance

Ulster Bank

Ulster Bank

Chamber Acorn Fund

TSB

Coutts

Clydesdale / Yorkshire Bank

AIB

Greensill

Compass Business Finance

Starling Bank

Metro Bank

County Finance Group

The Co-operative Bank

OakNorth Bank

CWRT

Bank of Ireland (UK)

Secure Trust Bank

Danske Bank

Skipton Business Finance

ThinCats

DSL Business Finance

Tide

Close Brothers

Enterprise Answers

Metro Bank

HSBC Bank plc

Finance for Enterprise

Paragon Bank

Silicon Valley Bank

First Enterprise

JCB Finance

BBVA

GC Business Finance

Investec

Investec

Genesis Asset Finance

Arbuthnot Latham

Mercedes Benz Financial Services

Haydock Finance

Coutts

AIB

Hitachi Capital

Adam & Co

Bank of Ireland (UK)

HSBC UK

Capital on Tap

RBC Capital Markets

Let's Do Business Group

Funding Circle

The Co-operative Bank

Lloyds Bank

Conister

Bank of Ireland (Governor & Company of)

Metro Bank

GC Business Finance

MSIF

Close Brothers

NatWest

Bank of Scotland

Newable

Barclays

RBS

Clydesdale / Yorkshire Banks

Robert Owen Community Banking

Danske Bank

Santander

HSBC

Skipton Business Finance

Lloyds Bank

SWIG Finance

NatWest

TSB

RBS

UKSE

Santander

Ulster Bank

Ulster Bank

Arkle Finance Limited

TSB

Close Brothers

AIB

Coutts

Starling Bank

Cynergy Bank

The Co-operative Bank

OakNorth Bank

Bank of Ireland (UK)

Secure Trust Bank

Skipton Business Finance

Starling Bank

Tide

The Co-operative Bank

Metro Bank

Funding Circle

Paragon Bank

AIB

JCB Finance

IGF

Investec

Paragon

Arbuthnot Latham

Thincats

Coutts

1pm

Adam & Co

Adam & Co

Capital on Tap

Assetz Capital

Funding Circle

Atom bank

Conister

Ebury

GC Business Finance

Investec

Close Brothers

Social Investment Business

Tower Leasing

Ultimate Finance

White Oak UK

Bank Leumi / Leumi ABL

Capital on Tap

MarketFinance

Shawbrook Bank

Liberis

Community Finance Ireland (previously Ulster Community Investment Trust (UCIT))

iwoca

Scania Financial Services

Triodos Bank UK

Woodsford TradeBridge

FSE Group, The

FW Capital

Mercia Asset Management

Whiterock Finance

Arbuthnot Commerical ABL

Shire Leasing

Silicon Valley Bank

Growth Lending

Invocap

NEL Fund Managers

Triple Point

4Syte

Asset Finance Partners

JCB

Merchant Money

United Trust Bank

Previse

Handelsbanken

Lending Crowd

Nucleus Commercial Finance

Maven Capital Partners

Bank of India

Fiduciam

Simply

Regency Factors

BLG Development Finance

Conister

RM Funds

Western Union Business Solutions

LendInvest

Interbay

Charities Aid Foundation (CAF)

Cyan Finance

Ortus Secured Finance

Greensill

Funding 365

Hampshire Trust Bank

Kingsway Asset Finance

BRYDG Capital

Kennet Leasing

West One

KSEYE

Aspen Bridging

Pluto Finance


Written Question
Audit: Standards
Tuesday 9th November 2021

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the potential effectiveness of the introduction of a market share cap, as opposed to managed shared audit, on preventing further corporate failures.

Answered by Paul Scully

The Government’s White Paper on “Restoring Trust in Audit and Corporate Governance: Proposals for Reform” was published in March this year and proposed the introduction of managed shared audit as part of a package of measures, which together aim to improve corporate governance, quality of accounting, auditing and their regulation, and competition and resilience in in the FTSE 350 audit market, for the UK’s largest companies.

The Government is currently considering all submissions from stakeholders, in response to the White Paper and will publish a Government response to the consultation in due course.


Written Question
Audit: Standards
Tuesday 9th November 2021

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, with reference to the White Paper on Restoring trust in audit and corporate governance, what assessment he has made of whether managed shared audit is the most effect method of audit reform to improve resilience in the FTSE350.

Answered by Paul Scully

The Government’s White Paper on “Restoring Trust in Audit and Corporate Governance: Proposals for Reform” was published in March this year and proposed the introduction of managed shared audit as part of a package of measures, which together aim to improve corporate governance, quality of accounting, auditing and their regulation, and competition and resilience in in the FTSE 350 audit market, for the UK’s largest companies.

The Government is currently considering all submissions from stakeholders, in response to the White Paper and will publish a Government response to the consultation in due course.


Written Question
Company Law: Standards
Tuesday 9th November 2021

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps the new Audit Reporting and Governance Authority (ARGA) will take to work in partnership with investors, boards, auditors and other regulators to develop a world-class system of corporate governance in practice.

Answered by Paul Scully

The Financial Reporting Council (FRC) has since December 2019 been undertaking a transformation programme to prepare for its transition to the Audit, Reporting and Governance Authority (ARGA). As part of this, the FRC has established a dedicated stakeholder engagement team to enable more extensive engagement and dialogue with investors, boards, auditors and other stakeholders on how the UK’s corporate governance and stewardship frameworks can continue to improve and embed good practice. Further details of this expanded outreach programme can be found in section 6 of the regulator’s latest Annual Report published in July 2021:

https://www.frc.org.uk/getattachment/985d9c2a-8a6d-4c8b-8172-06858edfabab/FRC-Annual-Report-and-Accounts-2020-21.pdf.

The new ARGA will take forward this dialogue and partnership working in line with new statutory objectives, as set out in the Government’s White Paper on ‘Restoring Trust in Audit and Corporate Governance’: https://www.gov.uk/government/consultations/restoring-trust-in-audit-and-corporate-governance-proposals-on-reforms.


Written Question
Heating
Thursday 9th September 2021

Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, when he plans to publish the Heat and Buildings Strategy.

Answered by Anne-Marie Trevelyan - Minister of State (Foreign, Commonwealth and Development Office)

The Government is planning to publish a Heat and Buildings Strategy in due course. The strategy will set out the immediate actions we will take for reducing emissions from buildings, as well as our approach to the key strategic decisions needed to achieve a mass transition to low-carbon heat.