Asked by: Andrew Percy (Conservative - Brigg and Goole)
Question to the Department for Business, Energy and Industrial Strategy:
To ask The Secretary of State for Business Energy and Industrial Strategy, what steps he is taking to ensure the accurate accounting of (a) AI Programs, (b) Blockchain and (c) other Fin Tech, a report of a company's business model.
Answered by Margot James
For the purposes of company reporting these items (i.e. AI Programs, Blockchain and other Fin Tech) would be treated as intangible assets.
The Companies Act 2006 requirements for Large and Medium-sized Companies and Groups, includes a balance sheet heading “Intangible Assets” to be included on the face of the balance sheet as well as a specific sub-heading for, “concessions, patents, licences, trademarks, and similar rights and assets”. We would expect AI programs, Blockchain and Fin Tech to be accounted for under this heading.
For additional clarity UK generally accepted accounting practices (GAAP) also require detailed disclosures on intangible assets, where they are material to the company’s financial position, to be included in the notes attached to the financial statements.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the Government plans further to develop commercial space exploration in the UK; and if he will make a statement.
Answered by Lord Johnson of Marylebone
The Government has an exciting ambition to take the UK into the commercial space age. We are actively supporting the development of a commercial market for small satellite launch and sub-orbital flight in the UK, by helping industry to develop new technologies, infrastructure and services. This will establish the UK as a world leading destination for space launch.
We are putting in place new regulation, working internationally to secure agreements and evaluating proposals for grants that would help get the first missions from the UK off the ground.
We are also an active player in international exploration programmes which help to support the development of commercial capabilities in the UK, such as the Goonhilly ground station.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, whether the Government plans further to develop commercial space exploration in the UK; and if he will make a statement.
Answered by Lord Johnson of Marylebone
The Government has an exciting ambition to take the UK into the commercial space age. We are actively supporting the development of a commercial market for small satellite launch and sub-orbital flight in the UK, by helping industry to develop new technologies, infrastructure and services. This will establish the UK as a world leading destination for space launch.
We are putting in place new regulation, working internationally to secure agreements and evaluating proposals for grants that would help get the first missions from the UK off the ground.
We are also an active player in international exploration programmes which help to support the development of commercial capabilities in the UK, such as the Goonhilly ground station.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
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 is taking steps to raise awareness of the banking services that Post Office branches provide.
Answered by Margot James
The Government is committed to providing universal banking access for all consumers and small businesses in the UK - 99% of UK personal bank customers and 95% of small business accounts can withdraw cash and deposit cash and cheques over the counter in any of the UK’s network of 11,600 post offices.
I understand that the Post Office is working to increase public awareness of its banking services. There is a series of ongoing in-branch campaigns, a recent one seeing 7,000 post office branches advertising banking services nationwide. The Post Office is also working in conjunction with UK banks to launch a series of campaigning initiatives through the next year.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
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 Government is taking to assist the UK aerospace industry to take advantage of global trading opportunities after the UK has left the EU.
Answered by Lord Harrington of Watford
The UK will continue its longstanding support for the aerospace sector, including co-funding £1.95bn to 2026 for research and development activities, and a number of other measures to support the UK supply chain.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans he has to encourage greater diversify in energy production in the UK.
Answered by Lord Harrington of Watford
The Capacity Market is at the heart of the Government’s plans for a reliable, flexible electricity system. It will secure the capacity required to meet peak demand in a range of scenarios through auctions held four- and one-year ahead of delivery.
The design of the Capacity Market drives fierce competition. Existing and new resources, of all technology types which are not in receipt of another subsidy, compete together. A mix of new-build projects came through in the last main capacity auction in December 2016, with significant innovation such as demand-side response and battery storage winning agreements alongside more traditional gas generation projects.
Other measures being taken to broaden the UK’s electricity generation base are the deployment of new nuclear generation (starting with Hinkley Point C).
In September, we announced the results of the second Contracts for Difference auction round which secured an additional 3.2 Giga Watts of new offshore wind capacity to be built in the early 2020’s.
Building on this, we announced our Clean Growth Strategy in October, where we committed a further £557 million for future Contracts for Difference allocation rounds with the next auction planned for Spring 2019.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he has taken to engage with (a) coal generators and (b) the biomass sector on whether a future biomass auction will take place.
Answered by Jesse Norman
We plan to hold the next Contracts for Difference allocation round in due course We will announce further details about the allocation round and engage with stakeholders in good time.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what the timetable is for publishing the Government's analysis of whole system costs.
Answered by Nick Hurd
Following peer review by experts in the field of whole system impacts, the Department for Business, Energy and Industrial Strategy will publish the methodology report of the Whole System Impacts of Electricity Generation Technologies project in due course.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Energy and Climate Change, if she will make it her policy to implement the Competition and Markets Authority's recommendations in making all future auctions for renewable support contracts technology neutral.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The CMA recommendations are another step towards ensuring we have a competitive and effective energy market for consumers. We will now take action, along with Ofgem and other delivery bodies, to implement these recommendations.
The Competition and Markets Authority did not recommend making all future auctions for renewable support technology neutral.
Asked by: Andrew Percy (Conservative - Brigg and Goole)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Innovation and Skills, what steps he has taken to tackle anti-Semitism in English universities.
Answered by Lord Johnson of Marylebone
There is no place in our society, including higher education, for anti-Semitism or any other form of bigotry, hatred and racism. We expect universities to act swiftly to investigate and address any anti-Semitic incidents reported to them. Responsibilities for ensuring students do not face harassment, abuse or violence rests with individual institutions, as a clear part of their duties under the 2010 Equality Act.
At the request of the Government, Universities UK have set up a taskforce to consider what more can be done to address harassment on campus, including on the basis of religion and belief. The taskforce has had meetings with or received evidence from a wide range of organisations which include the Union of Jewish Students, the Board of Deputies of British Jews and Community Security Trust.
The taskforce is expected to report its findings in the autumn but has already identified the need for an improved data collection of incidents by institutions, to ensure universities are recording incidents effectively; the importance of complaints procedures that protect the identity of students who may be fearful of coming forward; and the need for better training for staff to respond to instances of harassment.