Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
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 (a) costs and (b) merits of making internal audit functions a mandatory requirement for all contractors delivering public sector infrastructure projects.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Government announced that it would publish a draft audit reform and corporate governance bill in the King’s Speech, which is expected to include extending enhanced Public Interest Entity audit requirements to very large private companies. The financial resilience of major suppliers to government, including firms working on infrastructure projects, is monitored on an ongoing basis by the Crown Commercial Service.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he has made an assessment of the potential merits of giving the Audit, Reporting and Governance Authority the statutory power to sanction all company directors.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
As announced in the King’s speech, the Government intends to publish a draft Audit Reform and Corporate Governance Bill in due course. We expect the Bill to include further details on the proposed directors’ enforcement regime, including in respect of the scope of the regime.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, whether he has made an assessment of the potential merits of widening the definition of a public interest entity in the context of (a) BHS, (b) Bulb and (c) ISG.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Government’s plans to widen the definition of a Public Interest Entity were announced in the King’s Speech as part of the announcement on the draft Audit Reform and Corporate Governance Bill.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will take steps to require the largest (a) public and (b) private companies to have (i) an Audit Committee and (ii) an internal audit function, in the context of the collapse of ISG.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
Companies whose securities are traded on the main market of the London Stock Exchange and banks, building societies and insurers are required to have an audit committee. Other private companies are not required to have an audit committee, but may choose to have one. Outside of the regulated financial sector, companies are not required to have an internal audit function. The Government plans to extend the scrutiny of the largest private companies’ external audits through the draft Audit and Corporate Governance bill and will set out full details of what that will include in due course.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what his planned timeline is for the review of the implementation of unpaid carer's leave.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Plan to Make Work Pay set out a commitment to review the implementation of Carer’s Leave, and that work is now underway. To deliver on this, we are bringing forward the Post Implementation Review of this legislation to complete before the end of this parliament.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will review the list of people granted the right to take time off work to perform public duties under section 50 of the Employment Right Act 1996.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The entitlement to time off for public duties helps to ensure that unpaid roles within our public services attract a broad range of people, including those who are in work, while breaking down a barrier to participation in civic life for people who need to work full time.
The initial legislation that introduced this entitlement is over 50 years old. I have asked my officials to consider how we can ensure this legislation remains effective.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to increase foreign direct investment in the (a) UK and (b) North East.
Answered by Sarah Jones - Minister of State (Department for Energy Security and Net Zero)
Growth is the government’s central economic mission and we are currently developing an Industrial Strategy which aims to drive growth across the UK through investment in key sectors and regions. We are also hosting the International Investment Summit in October, to bring together global investors and regional leaders to advance opportunities for investment and growth across the country. Additional measures to improve the business environment and increase investment into the UK will be announced at the summit.
For the North East specifically, we will support delivery of the North East Mayoral Combined Authority’s Local Growth Plan. We will continue showcasing investment opportunities across the North East to potential investors, and provide account management services for investors already in the region to help them build and scale.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, what steps he is taking to help increase labour productivity in the North East.
Answered by Gareth Thomas - Parliamentary Under Secretary of State (Department for Business and Trade)
Labour productivity in the UK has stagnated over the past fourteen years. It is essential that we act decisively to change this in all nations and regions, including in the North East of England.
We are currently working closely with both the North East and Tees Valley Combined Authorities as they develop their Local Growth Plans, to identify their highest-potential sectors and growth priorities.
This will enable a focus on the North East's economic strengths, make the most of mayoral leadership and help create the best conditions for lasting change, driving up labour productivity and growth.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, if he will take steps with Cabinet colleagues to give worker status to foster carers.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
As set out in our Plan to Make Work Pay, we will consult on a simpler two-tier employment status framework that differentiates between workers and the genuinely self-employed. We will confirm plans for this in due course.
I pay tribute to the vital efforts of foster carers, who carry out a challenging role that requires skill, dedication and love. This government will ensure more children can receive loving care in foster families.
We will work with councils and fostering services to ensure foster carers receive the support they need and deserve, but there are no plans to give worker status to foster carers.
Asked by: Mary Glindon (Labour - Newcastle upon Tyne East and Wallsend)
Question to the Department for Business and Trade:
To ask the Secretary of State for Business and Trade, how his proposed review into the implementation of unpaid carers' leave is to be conducted; and whether the review will be published.
Answered by Justin Madders - Parliamentary Under Secretary of State (Department for Business and Trade)
The Government made a commitment to review carer’s leave in the Plan to Make Work Pay. We will provide an update on progress in this area in due course.
The Plan to Make Work Pay also includes a number of measures which will help unpaid carers workers to enter, remain and progress in work - including making flexible working the default and introducing a right to switch off.