Asked by: Lord Ravensdale (Crossbench - Excepted Hereditary)
Question to the HM Treasury:
To ask His Majesty's Government, further to the remarks by the Chancellor of the Exchequer in the Budget Statement on 15 March 2023 that "subject to consultation, nuclear power will be classed as environmentally sustainable in our green taxonomy" (HC Deb col 841), when they will publish the associated consultation.
Answered by Baroness Vere of Norbiton - Parliamentary Secretary (HM Treasury)
The Government reiterated its commitment in the 2023 Green Finance Strategy to delivering a UK Green Taxonomy and remains committed to implementing a UK Green Taxonomy, an important tool to increase transparency into the market to mobilise private investment into green activities and to tackle greenwashing.
Developing a usable and useful taxonomy is a complex and technical exercise. The government continues to work at pace and expects to publish in due course.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South)
Question to the Foreign, Commonwealth & Development Office:
To ask the Deputy Foreign Secretary, if he will make an assessment of the adequacy of progress made towards achieving the UN Sustainable Development Goals by 2030.
Answered by Andrew Mitchell - Minister of State (Foreign, Commonwealth and Development Office) (Minister for Development)
The UK recommitted to the Sustainable Development Goals (SDGs) at the 2023 UN General Assembly and the International Development White Paper places the SDGs at the forefront of UK development efforts. To get the SDGs back on track, we are working in partnership to deliver: more money, better spent. The UK is taking action to deliver the quantum leap in financing needed, but finance alone is not enough. In March 2024, the UK convened an SDG Wilton Park event with partners from around the world to discuss what actions will accelerate SDG progress, with a focus on delivering across multiple Goals at once.
Asked by: Caroline Lucas (Green Party - Brighton, Pavilion)
Question to the Foreign, Commonwealth & Development Office:
To ask the Deputy Foreign Secretary, with reference to the Independent Commission for Aid Impact’s UK review of UK aid’s international climate finance commitments, published 29 February 2024, what assessment his Department has made of whether the £1.724 billion funding which has been reclassified as international climate finance is (a) dedicated ring-fenced funding and (b) distinguishable from non-climate ODA.
Answered by Andrew Mitchell - Minister of State (Foreign, Commonwealth and Development Office) (Minister for Development)
The UK is delivering on our commitment to spend £11.6 billion International Climate Finance (ICF) between 2021/22 and 2025/26. Much of our ICF is integrated into programmes that seek to tackle climate change alongside other development objectives such as supporting economic growth and boosting sustainable agriculture. UK ICF programmes are all identifiable through a dedicated tag on the Development Tracker website: [https://devtracker.fcdo.gov.uk/].
Asked by: Navendu Mishra (Labour - Stockport)
Question to the Department for Education:
To ask the Secretary of State for Education, what assessment her Department has made of the impact of increases in the cost of living on the accessibility of higher education for students in Greater Manchester.
Answered by Luke Hall - Minister of State (Education)
The government publishes an Equality Impact Assessment (EIA) is each year to analyse the impact of changes to higher education (HE) student support in England on students with protected characteristics and those from low-income families. The EIA for the 2024/25 academic year was published on GOV.UK on 26 January 2024 and is available at: https://www.gov.uk/government/publications/higher-education-student-finance-2024-to-2025-equality-analysis.
The department has continued to increase maximum loans and grants for living and other costs for undergraduate and postgraduate students each year with a 2.8% increase for the current academic year, 2023/24, and a further 2.5% increase announced for 2024/25.
In addition, the department has frozen maximum tuition fees for the 2023/24 and 2024/25 academic years. By 2024/25, maximum fees will have been frozen for seven successive years. The department believes that the current fee freeze achieves the best balance between ensuring that the system remains financially sustainable, offering good value for the taxpayer, and reducing debt levels for students in real terms.
The government understands the pressures people have been facing with the cost of living and has taken action to help. The department has already made £276 million of student premium and mental health funding available for the 2023/24 academic year to support successful outcomes for students including disadvantaged students.
The department has also made a further £10 million of one-off support available to support student mental health and hardship funding for 2023/24. This funding will complement the help universities are providing through their own bursary, scholarship and hardship support schemes. For this financial year, 2024/25, the department has increased the Student Premium (full-time, part-time, and disabled premium) by £5 million to reflect high demand for hardship support. Further details of this allocation for the academic year 2024/25 will be announced by the Office for Students (OfS) in the summer.
Overall, support to households to help with the high cost of living is worth £108 billion over 2022/23 to 2024/25, an average of £3,800 per UK household. The government believes this will have eased the pressure on family budgets and so will in turn enable many families to provide additional support to their children in HE to help them meet increased living costs.
English domiciled 18 year olds from the most disadvantaged areas are now 74% more likely to enter HE than they were in 2010, and the department is working to close the disadvantage gap with our access and participation reforms.
The department has tasked the OfS to include support for disadvantaged students before entry to HE in new access and participation plans. Providers should be working meaningfully with schools to ensure that pupils from disadvantaged backgrounds are encouraged and supported to achieve the highest possible grades and follow the path that is best for them, whether that be an apprenticeship or higher technical qualification, or a course at another university.
Asked by: Lord Mendelsohn (Labour - Life peer)
Question to the Department for Education:
To ask His Majesty's Government what assessment they have made of the impact of interest rate charges on Government student loan financing, following research by the Institute for Fiscal Studies which showed that higher interest rates will add more than £10 billion per year to the cost of England’s student loan system.
Answered by Baroness Barran - Parliamentary Under-Secretary (Department for Education)
Student loans are valued in the department’s annual accounts in line with the International Financial Reporting Standard 9 and set out in The Government Financial Reporting Manual which is attached.
Under which where future cash flows are discounted to measure the fair value of a financial asset, this should be done using the higher of the rate intrinsic to the financial instrument or the HMT discount rate. HMT set the discount rate annually based on a 10 year rolling average of gilt yields. For student loans the intrinsic rate would be the discount rate that gave a Resource Accounting Budget (RAB) or stock charge of 0%, so the HMT discount rate is used provided the RAB charge is greater than 0%. Should the HMT discount rate result in a RAB charge calculation giving a negative value then the intrinsic rate is used instead, meaning that that RAB charge will take a value of 0%.
The most recent forecasts for the student finance system can be found here: https://explore-education-statistics.service.gov.uk/find-statistics/student-loan-forecasts-for-england/2022-23.
The net present value of future repayments was calculated by discounting all future repayments at a rate of RPI -1.3% per year until the end of financial year 2029/30, and -0.2% per year from financial year 2030/31, to the same point in time as the loan outlay or loan balance. This is the discount rate for financial instruments set by HMT in 2022 and is intended to reflect of the cost of government borrowing. The most recent student loan forecasts using the 2023 discount rate set by HMT will be published at the end of June 2024.
The department has carefully assessed the impact of changes and published a full and comprehensive analysis in the Higher Education Reform and Consultation Document Equality Impact Assessment, which is attached.
The student loan repayment system under Plan 5 is progressive, with repayments being positively correlated with lifetime earnings. The highest earners make the largest individual contributions to the system overall, and the lowest earners are required to contribute the least.
Lower earners, whether male or female, are protected. If a borrower’s income is below the repayment threshold, they will not be required to make any repayments at all. At the end of the loan term, any outstanding loan debt, including interest accrued, will be written off at no detriment to the borrower. No commercial loans offer this level of protection.
The department will continue to keep the student finance system, including repayment terms, under review to ensure that it remains sustainable and delivers value for money for students and the taxpayer.
Asked by: Lord Mendelsohn (Labour - Life peer)
Question to the Department for Education:
To ask His Majesty's Government what assessment they have made of the impact of changes to the student loan repayment system, introduced in August 2023, on female students.
Answered by Baroness Barran - Parliamentary Under-Secretary (Department for Education)
Student loans are valued in the department’s annual accounts in line with the International Financial Reporting Standard 9 and set out in The Government Financial Reporting Manual which is attached.
Under which where future cash flows are discounted to measure the fair value of a financial asset, this should be done using the higher of the rate intrinsic to the financial instrument or the HMT discount rate. HMT set the discount rate annually based on a 10 year rolling average of gilt yields. For student loans the intrinsic rate would be the discount rate that gave a Resource Accounting Budget (RAB) or stock charge of 0%, so the HMT discount rate is used provided the RAB charge is greater than 0%. Should the HMT discount rate result in a RAB charge calculation giving a negative value then the intrinsic rate is used instead, meaning that that RAB charge will take a value of 0%.
The most recent forecasts for the student finance system can be found here: https://explore-education-statistics.service.gov.uk/find-statistics/student-loan-forecasts-for-england/2022-23.
The net present value of future repayments was calculated by discounting all future repayments at a rate of RPI -1.3% per year until the end of financial year 2029/30, and -0.2% per year from financial year 2030/31, to the same point in time as the loan outlay or loan balance. This is the discount rate for financial instruments set by HMT in 2022 and is intended to reflect of the cost of government borrowing. The most recent student loan forecasts using the 2023 discount rate set by HMT will be published at the end of June 2024.
The department has carefully assessed the impact of changes and published a full and comprehensive analysis in the Higher Education Reform and Consultation Document Equality Impact Assessment, which is attached.
The student loan repayment system under Plan 5 is progressive, with repayments being positively correlated with lifetime earnings. The highest earners make the largest individual contributions to the system overall, and the lowest earners are required to contribute the least.
Lower earners, whether male or female, are protected. If a borrower’s income is below the repayment threshold, they will not be required to make any repayments at all. At the end of the loan term, any outstanding loan debt, including interest accrued, will be written off at no detriment to the borrower. No commercial loans offer this level of protection.
The department will continue to keep the student finance system, including repayment terms, under review to ensure that it remains sustainable and delivers value for money for students and the taxpayer.
Asked by: Thérèse Coffey (Conservative - Suffolk Coastal)
Question to the Department for Levelling Up, Housing & Communities:
To ask the Secretary of State for Levelling Up, Housing and Communities, what assessment his Department has made of the potential impact of its plans to address water scarcity in Greater Cambridge on the water bills of Anglian Water customers in (a) Suffolk and (b) Suffolk Coastal constituency.
Answered by Lee Rowley - Minister of State (Minister for Housing)
The Government is committed to supporting the growth of Greater Cambridge in a sustainable way, supporting its economic potential, protecting and enhancing the quality of life for residents, habitats and the environment.
At Spring Budget 2024, the government published a policy paper setting out its ambition to address water scarcity in Greater Cambridge. Customer water bills are set every five years by Ofwat through its ‘price review’ process which includes controlling the prices that companies can charge customers whilst allowing companies to finance improvements to their infrastructure.
Asked by: Kerry McCarthy (Labour - Bristol East)
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, what steps his Department is taking to support private investment in ocean recovery.
Answered by Rebecca Pow - Parliamentary Under-Secretary (Department for Environment, Food and Rural Affairs)
Ocean conservation and the protection of marine biodiversity is a global challenge and one that is critically underfunded. Through the UK’s £500m UK aid Blue Planet Fund and in line with the 10 Point Plan for Financing Biodiversity and the International Development White Paper, we are supporting innovative projects that aim to attract and scale up private investment in ocean recovery. These initiatives include restoration and protection of blue carbon habitats and increasing coastal community resilience, funded through programmes led by the Ocean Risk and Resilience Action Alliance (£13.9m), the World Bank’s sustainable blue economies programme- PROBLUE (£37.5m), and the Global Fund for Coral Reefs (£33m), amongst others. In June 2023, Lord Benyon hosted a joint UK-GFCR Investors Roundtable event, which showcased the GFCR as a viable investment opportunity and supported investor mobilisation for the GFCR Investment fund. At 28th Conference of the Parties of the UNFCCC (COP28), the GFCR Coalition announced the mobilisation of more than $200 million USD as an initial direct investment toward the newly established 2030 Coral Reef Breakthrough targets, these include mobilising $12bn for corals and protecting 125,000 km2 of corals (50% of ~250,000km2 global total) by 2030.
As set out in Mobilising Green Investment: 2023 Green Finance Strategy, we are also taking action to meet our target to raise £1bn in private finance into nature’s recovery in England every year by 2030, both on land and at sea.
Asked by: Zarah Sultana (Labour - Coventry South)
Question to the Department for Education:
To ask the Secretary of State for Education, if she will make an assessment with Cabinet colleagues of the potential (a) merits of extending eligibility for Disabled Students’ Allowance to international students and (b) impact of the existing eligibility criteria on educational inequalities in higher education.
Answered by Luke Hall - Minister of State (Education)
The government appreciates the significant economic and cultural contribution that international students make to UK higher education (HE). The department’s offer to international students remains very competitive and the department is committed to ensuring the UK remains a destination of choice for the brightest and best international students from across the globe.
To be eligible for Disabled Students Allowance, students must: (a) meet the personal eligibility criteria for student finance within the Education (Student Support) Regulations 2011 and be studying a course designated for student support; and (b) have a disability as defined in the Equality Act 2010.
Entitlement to student support and home fee status is limited to eligible students who are undertaking HE courses offered by UK institutions that are designated for support. This is to ensure that the HE student finance system remains financially sustainable. The government has no plans to extend home fee status and student support to international students.
All HE providers must fulfil their responsibilities under the Equality Act 2010 in their support for all disabled HE students regardless of whether they are home or international students.
Asked by: Matt Hancock (Independent - West Suffolk)
Question to the Department for Environment, Food and Rural Affairs:
To ask the Secretary of State for Environment, Food and Rural Affairs, what steps his Department is taking to help increase the usage of emerging technologies that help directly reduce methane levels in the atmosphere.
Answered by Rebecca Pow - Parliamentary Under-Secretary (Department for Environment, Food and Rural Affairs)
Methane reduction technologies are within scope of Defra’s £270 million Farming Innovation Programme and were in scope of its predecessor, Farming Innovation Pathways.
Defra’s evidence programme includes Research & Development exploring ways to reduce emissions from livestock. The portfolio includes research on nutrient and livestock management, feed and grazing regimes, methane suppressing feed products, ways to identify and selectively breed for more sustainable and productive animals, and ways to better manage manures.
Defra considers that Methane Suppressing Feed Products (MSFPs) are an essential tool to decarbonise the agriculture sector. In England, our objective is to establish a mature market for these products, encourage uptake and mandate the use of MSFPs in appropriate cattle systems as soon as feasibly possible and no later than 2030. We are committed to working with farmers and industry to achieve this goal, and in early March convened the inaugural meeting of a Ministerial-led industry taskforce on MSFPs.
The UK catalysed action on methane during our COP26 Presidency, including being one of the first countries to support the Global Methane Pledge - a collective commitment to reduce global methane emissions by at least 30% by 2030, against 2020 levels. As part of its commitment to the Global Methane Pledge, the UK published a Methane Memorandum in November 2023 during COP27. The Memorandum outlines how the UK has achieved a robust track record in reducing methane emissions and how it continues to explore and implement measures to secure future progress. We were pleased that methane emissions were prioritised at COP28, with more countries joining the Pledge and a particular focus on mobilising finance to support developing countries with their methane emissions. The UK committed £2 million to the Methane Finance Sprint.