Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the Department for Exiting the European Union :
To ask the Secretary of State for Exiting the European Union, what assessment his Department has made of the (a) short-term and (b) long-term risks to the UK financial services after the UK leaves the EU.
Answered by Suella Braverman
The Government is undertaking a wide range of ongoing analysis in support of our EU exit negotiations and preparations.
We have been clear in our ambition to agree a broad and comprehensive trade agreement with the EU, which should cover financial services and protect the role of the City of London as a top global financial centre in the future. In March this year, London was named once again as the world’s leading financial centre; we are committed to maintaining that position.
We have also been clear that a good deal on financial services is in the mutual interest of the UK and the EU. Firms across the EU will continue to want to access the unrivalled depth and breadth of London’s capital markets.
We will also seek to establish strong cooperative oversight arrangements with the EU and will continue to support and implement international standards to continue to safely serve the UK, European and global economy. It is in both sides’ interests to ensure that we agree oversight arrangements that promote the maintenance of financial stability.
The Government has previously confirmed that when we bring forward the vote on the final deal, we will ensure that Parliament is presented with the appropriate analysis to make an informed decision – in relation to all sectors of the economy, including financial services.
Asked by: John Healey (Labour - Rawmarsh and Conisbrough)
Question to the Ministry of Housing, Communities and Local Government:
To ask the Secretary of State for Housing, Communities and Local Government, how many staff from (a) his Department and (b) Homes England attended MIPIM international property conference 2018; and what estimate he has made of the cost to the public purse of their attending that event.
Answered by Heather Wheeler
Four members of staff from the Ministry of Housing, Communities and Local Government (MHCLG) and eleven from Homes England attended MIPIM as part of a wider UK Government delegation led by the Department for International Trade. MHCLG contributed £50,000 to the DIT led HMG presence, and spent approximately £2,789.44 on staff transport, accommodation and subsistence. The cost to Homes England was £45,898.20.
MIPIM is attended by most cities and combined authorities in the UK, including Greater Manchester, Sheffield City Region, the Midlands, London, and Leeds City Region, all of whom had stands at the event and sent senior delegates. The conference therefore presents an opportunity for Government to engage with these local and combined authority leaders, and to support them in promoting the opportunities that exist within regeneration and infrastructure projects in their areas to global investors. The property sector has a crucial role to play in many of the UK Government’s and MHCLG’s priorities, including delivering new homes and communities and upgrading vital infrastructure. The UK remains a hugely attractive place to invest for the global property community and we are putting in place the policies needed to support domestic and international investment.
The Right Honourable member may remember from his time in the Department that it is common practice for officials to attend MIPIM events.
Asked by: Baroness Jones of Moulsecoomb (Green Party - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what discussions they have with local authorities regarding implementation of the Paris Climate Agreement.
Answered by Lord Henley
The UK is firmly committed to the Paris Agreement and to our emissions reduction efforts under it. We are really pleased that many local authorities and their Mayors are already taking significant steps to implement the Paris Agreement, with over 30 signed up to international cities agreements like the Global Covenant of Mayors and London playing a leading role in the C40 cities movement. We are working closely with partner organisations like UK100 and APSE Energy to engage at official and political levels of local government.
We announced as part of the Clean Growth Strategy, our Local Energy Programme. This builds on this work and is a joint programme with local authorities, local enterprise partnerships, combined authorities and community groups to understand local aspiration and action on low carbon and on climate change. This programme also announced the creation of a local energy contact group which will provide regular advice and input from these groups on departmental policy.
We chair the national subcommittee for growth on sustainability which includes as members local authorities and oversees the funding through European Regional Development Funding for low carbon.
We also work closely with Local Authorities on adapting to the impacts of climate change. The Local Adaptation Advisory Panel, which includes local authority representatives from city and county councils, is a forum for discussion on climate change adaptation between central government and local government.
Asked by: Stephen Timms (Labour - East Ham)
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 increase the adoption of digital technologies by UK businesses.
Answered by Claire Perry
Government’s Digital Strategy includes plans to boost the nation’s digital skills, infrastructure and innovation, and aims to make the UK the best place to invest in tech.
My right hon. Friend the Secretary of State for Digital, Culture, Media and Sport has now chaired two meetings of the Digital Economy Council, which brings together government and leaders from the tech sector. The Council will drive progress on the Digital Strategy, such as stimulating growth and delivering new jobs in the digital economy. My hon. Friend the Minister of State for Digital will be chairing his second Digital Economy Advisory Group at the end of the year. The Advisory Group specifically focusses on supporting the tech sectors and helping innovation. Both groups will focus on the implementation of the Digital Strategy, along with feeding into the development of the Digital Charter. Membership of these groups is varied and includes: TechUK, Google, BT, Raspberry Pi and Entreprenuer First. Full membership details can be found here: https://www.gov.uk/government/groups/digital-economy-council-and-digital-economy-advisory-group
Actions we are already taking include launching GREAT.gov.uk, a new digital trade hub to help businesses export, which provides advice and support to current and potential exporters. This includes access to a smart database to connect them with global online marketplaces such as Amazon and Alibaba. We have also negotiated preferential rates with key e-marketplaces, making the UK one of the easiest and best places from which to sell goods online around the world. We are delivering promotions in key overseas markets to promote UK companies on these marketplaces.
The Digital Business Academy is a free online platform created by Tech City UK, to provide the skills needed to start, grow or join a digital business. Currently there are 11 courses available created by University College London, Cambridge University Judge Business School, Founder Centric and Valuable Content. Almost 20% of the academy graduates report that they are starting digital companies after finishing at least one skill. TCUK (and Tech North) have received approx £16 million from government over the last 7 years.
I refer the hon. Member to the answer I gave today to Question UIN 111926 where I have highlighted our current period of analysis of the recommendations put forward by two very recent reviews – the government review of Artificial Intelligence and the industry-led Made Smarter Review of industrial digitalisation.
Asked by: Chi Onwurah (Labour - Newcastle upon Tyne Central and West)
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 ensure digital transformation programmes are affordable for (a) small and medium-sized enterprises and (b) charities.
Answered by Claire Perry
Government’s Digital Strategy includes plans to boost the nation’s digital skills, infrastructure and innovation, and aims to make the UK the best place to invest in tech.
My right hon. Friend the Secretary of State for Digital, Culture, Media and Sport has now chaired two meetings of the Digital Economy Council, which brings together leaders from the tech sector with government. The Council will drive progress on the Digital Strategy, such as stimulating growth and delivering new jobs in the digital economy. Minister of State for Digital will be chairing his second Digital Economy Advisory Group at the end of the year. The Advisory Group specifically focusses on supporting the tech sectors and helping innovation. Both groups will focus on the implementation of the Digital Strategy, along with feeding into the development of the Digital Charter. Membership of these groups are varied and include: TechUK, Google, BT, Raspberry Pi and Entreprenuer First. Full membership detailes can be found here: https://www.gov.uk/government/groups/digital-economy-council-and-digital-economy-advisory-group
Actions we are already taking include launching GREAT.gov.uk, a new digital trade hub to help businesses export, which provides advice and support to current and potential exporters. This includes access to a smart database to connect them with global online marketplaces such as Amazon and Alibaba.
We have also negotiated preferential rates with key e-marketplaces, making the UK one of the easiest and best places from which to sell goods online around the world. We are delivering promotions in key overseas markets to promote UK companies on these marketplaces.
The Digital Business Academy is a free online platform created by Tech City UK, to provide the skills needed to start, grow or join a digital business. Currently there are 11 courses available created by University College London, Cambridge University Judge Business School, Founder Centric and Valuable Content. Almost 20% of the academy graduates report that they are starting digital companies after finishing at least one skill. TCUK (and Tech North) have received approx. £16 million from government over the last 7 years.
Asked by: Lord Blencathra (Conservative - Life peer)
Question to the Department for Exiting the European Union :
Her Majesty's Government, what is their assessment of the reported comments made by the City of London’s special representative to the EU, Jeremy Browne, that the government of France is seeking the weakening of Britain and the City of London; and what action they are taking to ensure that EU member states maintain good relations with the UK and the City of London following Brexit.
Answered by Baroness Anelay of St Johns
We are going to make the most of the opportunities that leaving the EU presents. We recognise that the City is a global centre of excellence in finance, corporate law and insurance, which EU companies will wish to continue to access. We will be aiming to maintain the City's leading position as one of the key centres of global finance.
The government is keenly aware of the importance of the financial services sector to the UK economy. The government has set out its intention to pursue a bold and ambitious free trade agreement with the European Union, and for that agreement to be of greater scope and ambition than any such agreement before it so that it covers sectors crucial to our linked economies such as financial services.
Our focus is on working closely with our EU partners to negotiate a successful outcome and the best deal for the UK and the EU. We are confident that such an outcome is in the interests of both sides.
Asked by: Baroness Smith of Basildon (Labour - Life peer)
Question to the Department for Digital, Culture, Media & Sport:
To ask Her Majesty’s Government<i>, </i>further to the answer by Lord Ashton of Hyde on 10 January (HL Deb, col 1857), who is on the advisory group set up to open social investment products to individuals, how frequently will the group meet, when was the group’s first meeting, and what are its terms of reference.
Answered by Baroness Buscombe
The advisory group is chaired by Elizabeth Corley, VC Allianz Global Investors, and is made up of senior industry representatives from across the savings and investment sectors, with a balance of CEO’s, senior practitioners and product experts. A full list of organisations that are involved can be found at Annex A.
The group’s first meeting was on the 18th January and will meet four more times before July, when the group will announce their initial recommendations to government and industry. The three working groups, that have been set up to look at specific issues around Product, Distribution and Customer Engagement, will meet more frequently. Terms of reference can be found at Annex B
Annex A – List of organisations involved in the advisory group
The advisory group is split into:
(a) An advisory committee acting as a high-level sounding board
(b) A steering group which shapes the work
(c) Three working groups looking in-depth at specific issues around Product, Distribution and Customer Engagement
The Chair of the advisory group (which encompasses all of the above) is Elizabeth Corley, VC Allianz Global Investors, and it currently has representation from the following firms (subject to change/additions):
Annex B: Terms of Reference
ADVISORY GROUP TO GOVERNMENT:
CREATING A CULTURE OF SOCIAL IMPACT INVESTMENT AND SAVINGS
ENHANCING INDIVIDUAL CHOICE
Summary:
How can the savings, pensions and investment industries, with the support of government, engage with individual investors to enable them to support more easily the things they care about through their savings and investment choices?
Detail:
The advisory group has been formed at the request of the Minister for Civil Society and the Economic Secretary to the Treasury.
It has been created to discuss how the savings, pensions and investment industries, with the support of government, can engage with individual investors to enable them to support more easily the things they care about through their savings and investment choices, whether through retail options or in collective schemes.
The aims of the advisory group are to:
1. Explore barriers to the development of products with social impact components
2. Explore barriers to the demand for and distribution of such products
3. Consider who is best placed to identify and implement solutions
4. Consider how existing best practice, regulatory incentives and further measures can reduce or remove barriers
5. Develop ideas for how best to explain social impact savings and investment choices to individuals and to provide feedback on impact to any fiduciaries and advisors involved
6. Discuss timescales for solutions, including possible next steps for any longer-term work to be taken forward beyond the advisory group.
Elizabeth Corley, Vice Chair of Allianz Global Investors (and previously CEO) has been asked to Chair the group. The group has been asked to make an initial report to the Minister for Civil Society and the Economic Secretary to the Treasury in Summer 2017.
Conclusions and recommendations are those of the group, but may not represent any individual member’s view. Any decisions on government policy rest with the ministers of the day.
Asked by: Viscount Waverley (Crossbench - Excepted Hereditary)
Question to the Department for International Trade:
To ask Her Majesty’s Government whether they plan to publish an itemised list, including budgets, of the current export promotion activities of UKTI, broken down by region and country of the UK; and if not, why not.
Answered by Lord Price
The central marketing campaign implemented by UKTI over the last year to drive new exporters; Exporting is GREAT, covers the whole of the United Kingdom. As the budget is centrally held and the paid-for marketing activity is centrally procured through a media buying agency it is not possible to detail the breakdown of the budget by region or nation.
The Exporting is GREAT campaign includes multi-channel promotional activity, outreach engagement across England, Scotland, Wales and Northern Ireland, supported by PR activity to maximise awareness, interest and engagement. A list of the paid-for activity to support this programme is detailed within this response.
November 2015 Launch:
TV, Digital / Social, Search, National Press – Full National programme targeting first time exporters across the whole UK, including devolved nations
Radio – national and specific regional coverage through the Bauer and Global networks.
The regional media was achieved through a mix of Bauer (City 1, City 2 and City 3, Magic , Kiss and more) and Global (LBC, Capital, Heart and Smooth Networks and more) local radio stations across the UK. At the bottom of this outline is a comprehensive list of all the stations that are part of these networks.
Outdoor advertising - 689 digital poster sites across key urban metropolitan areas in England, Wales, Scotland and NI.
This includes including large format roadside commuter screens, premium sites in urban centres and sites screens in shopping centres. Examples of premium sites include: the Manchester Digital Bridge, Five Way Island Birmingham, Bristol Great Western Link Inbound and Outbound, Newcastle screen on the Tyne, Leeds Northern Light, Liverpool Media Wall, Manchester Printworks and in NI Castle Court Shopping Centre and Victoria Street Shopping Centre.
Feb – March 2016:
TV, Digital / Social, Search – Full National targeting first time exporters across the whole UK, including devolved nations
Radio – national and specific regional coverage through the Bauer and Global networks.
The regional media was achieved through a mix of Bauer (City 1, City 2 and City 3, Magic , Kiss and more) and Global (LBC, Capital, Heart and Smooth Networks and more) local radio stations across the UK.
Radio Detail (Launch and Feb-March campaign)
Bauer City 1
CFM (Cumbria and South West Scotland)
Clyde 1 (Glasgow and the West of Scotland)
Forth 1 (Edinburgh, the Lothians and Fife)
Hallam FM (South Yorkshire and the North Midlands)
Key 103 (Greater Manchester)
Metro Radio (Tyne and Wear and Northumberland)
MFR (Scottish Highlands, Moray and Orkney)
Northsound 1 (Aberdeen and Aberdeenshire)
Radio Aire (Leeds and West Yorkshire)
Radio Borders (Scottish Borders and North Northumberland)
Radio City (Merseyside, Cheshire and North Wales)
Rock FM (Lancashire)
Tay FM (Tayside)
TFM (Tees Valley, County Durham and North Yorkshire)
Viking FM (East Yorkshire and North Lincolnshire)
West FM (Ayrshire)
Bauer City 2
Clyde 2 (Glasgow and the West of Scotland)
Forth 2 (Edinburgh, the Lothians and Fife)
Hallam 2 (South Yorkshire and the North Midlands)
Key 2 (Greater Manchester)
Metro 2 Radio (Tyne and Wear and Northumberland)
MFR 2 (Scottish Highlands, Moray and Orkney)
Northsound 2 (Aberdeen and Aberdeenshire)
Radio Aire 2 (Leeds and West Yorkshire)
Radio City 2 (Merseyside, Cheshire and North Wales)
Rock FM 2 (Lancashire)
Tay 2 (Tayside)
TFM 2 (Tees Valley, County Durham and North Yorkshire)
Viking 2 (East Yorkshire and North Lincolnshire)
West Sound (Ayrshire)
West Sound (Dumfries and Galloway)
Bauer City 3
Clyde 3 (Glasgow and the West of Scotland)
Forth 3 (Edinburgh, the Lothians and Fife)
Hallam 3 (South Yorkshire and the North Midlands)
Key 3 (Greater Manchester)
Metro 3 Radio (Tyne and Wear and Northumberland)
MFR 3 (Scottish Highlands, Moray and Orkney)
Radio Aire 3 (Leeds and West Yorkshire)
Radio City 3 (Merseyside, Cheshire and North Wales)
Rock FM 3 (Lancashire)
Tay 3 (Tayside)
The Hits (UK-wide on Freeview and online)
TFM 3 (Tees Valley, County Durham and North Yorkshire)
Viking 3 (East Yorkshire and Northern Lincolnshire)
Capital
95.8 Capital FM London
105-106 Capital FM Scotland (Glasgow, Edinburgh)*
105-106 Capital FM North East (Newcastle Upon Tyne, Sunderland, Durham, Middlesbrough)
105 Capital FM Yorkshire (Leeds, Sheffield, Kingston Upon Hull)
102 Capital FM Manchester
96-106 Capital FM East Midlands (Derby, Leicester, Nottingham)
102.2 Capital FM Birmingham
97.4/103.2 Capital FM South Wales (Cardiff, Newport, The Valleys)*
103.2 Capital FM South Coast (Southampton, Portsmouth, Isle of Wight)
95-106 Capital North West &Wales (Anglesey & Gwynedd, North Wales Coast, Wirral, Wrexham and Cheshire)
107.6 Capital Liverpool
Heart
Heart London
Heart West Midlands
Heart Watford & Hemel
Heart Four Counties
Heart Cambridgeshire
Heart Essex
Heart East Anglia
Heart Kent
Heart Sussex
Heart Solent
Heart Thames Valley
Heart Wiltshire
Heart South West
Heart Bristol & Somerset
Heart Cornwall
Heart Gloucestershire
Heart North Wales
Heart Scotland
Heart North West
Heart North East
Heart South Wales
Heart Yorkshire
Smooth
Smooth Radio North West (Liverpool, Manchester, Preston)
Smooth Radio London
Smooth Radio North East (Newcastle, Sunderland, Middlesborough)
Smooth Radio West Midlands (Birmingham, Wolverhampton, Coventry)
Smooth Radio East Midlands (Derby, Nottingham, Leicester)
Smooth Radio Glasgow
Magic
North East
Newcastle Magic 1152
Stockton-on-Tees Magic 1170
North West
Liverpool Magic 1548
Greater Manchester
Piccadilly Magic 1152
Preston Magic 999
Yorkshire
Hull Magic 1161
Leeds Magic 828
Sheffield Magic AM
London
London Magic 105.4
Outdoor (Launch campaign) Detail
Primesight Large Format Digital 48 Sheets
Court Shopping Centre, Victoria Street Shopping Centre, London, Barnet, Brent, Croydon, Enfield, Greenwich, Hammersmith, Chelsea, Tower Hamlets, Wandsworth, Manchester, Liverpool, Sheffield, Newcastle, Birmingham, Bradford, Leeds, Glasgow, Portsmouth, Cardiff, Glasgow, Edinburgh
Ocean Outdoor
Manchester Digital Bridge, Five Way Island Birmingham, Bristol Great Western Link Inbound and Outbound, Newcastle screen on the Tyne, Leeds Northern Light, Liverpool Media Wall, Manchester Printworks
Adshel Live Towns
Birmingham
Bristol
Cardiff
Cheltenham
Exeter
Gloucester
Ipswich
Leeds
Liverpool
Middlesbrough
Newcastle Upon Tyne
Norwich
Oxford
Southampton
Swansea
Kens & Chelsea - London
Aberdeen
Bournemouth
Dundee
Glasgow
Thamesdown
Kirklees
Sefton
Wirral
Shopping Centres:
Metro Centre Gateshead
Bluewater Greenhithe, Kent
Meadowhall Sheffield
Lakeside Grays, London
The Manchester Arndale Manchester
High Cross Shopping Centre Leicester
Queensgate Shopping Centre Peterbrough
The Luton Arndale Luton
Braehead Glasgow
Golden Square Warrington
Telford Centre Telford
Festival Place Basingstoke
Asked by: Viscount Waverley (Crossbench - Excepted Hereditary)
Question to the HM Treasury:
To ask Her Majesty’s Government what measures they and the Bank of England will be taking to protect and promote (1) the City of London, and (2) Edinburgh, as financial centres until negotiations to exit the EU are completed.
Answered by Lord O'Neill of Gatley
The Chancellor has met with financial institutions this week to discuss the impact of the United Kingdom’s decision to leave the European Union.
Britain’s economy and financial system are fundamentally strong. Action by the government and the Bank of England over the last six years has substantially strengthened the resilience of the financial system, and the authorities have all the necessary tools in place to protect financial stability.
The UK is a leading global financial centre serving not just Britain or Europe, but the entire world. It has natural strengths such as a central time zone and the English language, together with an unrivalled pool of firms and investors, supported by world leading legal and professional services. Major banks from across the globe have bases in the UK, and the UK has the fourth highest share of cross-border banking. It is also fast establishing itself as a global hub for renminbi, rupee, Islamic finance, green finance and FinTech business.
Formal negotiations with the EU will not begin until the UK triggers Article 50. In the meantime, and during the negotiations that will follow, there will be no change to people’s rights to travel and work, and to the way our goods and services are traded, or to the way our economy and financial system is regulated.
The government is committed to deepening relationships with new and established trade partners. Earlier this week the Chancellor laid out plans to build a highly competitive economy by targeting a corporation tax rate of less than 15%, focusing on a new push for investment from China, ensuring support for bank lending, redoubling efforts to invest in the Northern Powerhouse and maintaining the UK’s fiscal credibility.
The government will also maintain an open and constructive dialogue with the UK financial services industry, including through the Financial Services Trade and Investment Board, which is tasked with boosting and promoting the UK’s financial services competitiveness position and supporting jobs. Government and industry collaboration will continue to play a central role in delivering a global, sustainable, innovative and competitive UK financial services industry that continues to go from strength to strength.
Asked by: Andrew Rosindell (Reform UK - Romford)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will make it his policy to ensure that the status of the City of London as a world financial centre is explicitly protected during the renegotiations on the UK's membership of the EU.
Answered by David Gauke
As part of the European reform agenda the Government is negotiating ensure competitiveness is embedded in the DNA of the EU, so that the UK financial sector can continue to thrive as the global centre of European finance. The Government is also negotiating to ensure that the UK remains able to effectively safeguard the stability and integrity of the UK’s financial system. This means ensuring that UK regulators have responsibility for financial stability and supervision in the UK.
The City of London does not, however, get special treatment in the Government’s reform agenda. A special protection for the UK financial sector would not be in the interests of the single market in financial services, from which the UK benefits. Instead, we are demanding that the single market works in the interest of all 28 Member States.