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House
Session
Year
Department
Member
More
Primary member
More
Answering member
Legislative stage
Legislation
Subject
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Publisher
Draft Al-Qaida (Asset-Freezing) Regulations 2011 (SI 2011/2742). Lords debate on a motion to consider. Agreed to on question. Grand Committee held in the Moses Room.
Draft Al-Qaida (Asset-Freezing) Regulations 2011 (SI 2011/2742). Lords debate on a motion to consider. Agreed to on question. Grand Committee held in the Moses Room.
Lead member
Lord Sassoon
Answering member
Lord Myners
Department
Treasury
Type
Debates on delegated legislation
Legislation
ISIL (Da'esh) and Al-Qaida (Asset-freezing) Regulations 2011
Subjects
Assets; Licensing; EU law; Financial institutions; Exemptions; Terrorism; Sanctions; EU external relations; al Qaeda; Freezing of assets
Date
9 November 2011
Reference
732 c81-8GC
Chamber / Committee
House of Lords Grand Committee
House
House of Lords
Draft Financial Services and Markets Act 2000 (Exemption) (Amendment No. 2) Order 2011 (SI 2011/2716). Lords debate on a motion to approve. Agreed to on question.
Draft Financial Services and Markets Act 2000 (Exemption) (Amendment No. 2) Order 2011 (SI 2011/2716). Lords debate on a motion to approve. Agreed to on question.
Lead member
Lord Sassoon
Answering member
Lord Myners
Department
Treasury
Type
Debates on delegated legislation
Legislation
Financial Services and Markets Act 2000 (Exemption) (Amendment No. 2) Order 2011
Subjects
Compensation; Devolved matters; Consumers; Credit unions; Financial services; Financial Services Authority; Northern Ireland; Regulation; Financial Services Compensation Scheme
Date
31 October 2011
Reference
731 c978-81
Chamber / Committee
House of Lords chamber
House
House of Lords
Lords debate on Queen's speech (fourth day) on business and economic affairs, environment, energy, agriculture and transport.
Lords debate on Queen's speech (fourth day) on business and economic affairs, environment, energy, agriculture and transport.
Lead member
Baroness Wilcox
Answering member
Lord Myners
Department
Department for Transport; Department for Environment, Food and Rural Affairs; Treasury; Department for Business, Innovation and Skills; Department of Energy and Climate Change
Type
Queen's speech debates
Procedure
Addresses to the Crown
Subjects
Agriculture; Banks; Climate change; Airports; Bank of England; Broadband; Environment protection; Energy; Economic policy; Flexible working; Forecasts; Nuclear power; National insurance contributions; Railways; Postal services; Public finance; Small businesses; Regulation; Renewable energy; Taxation; Subsidies; Royal Mail; Regional development agencies; Common agricultural policy; Carbon emissions; Office for Budget Responsibility
Date
2 June 2010
Reference
719 c268-364
Chamber / Committee
House of Lords chamber
House
House of Lords
To ask Her Majesty's Government further to the Written Answer by Lord Myners on 22 February (WA 174–5), whether they will apply the common law powers permitted by the Ram doctrine to enable Treasury Ministers to repay those retail deposits in the Presbyterian Mutual Society not protected by the Financial...
To ask Her Majesty's Government further to the Written Answer by Lord Myners on 22 February (WA 174–5), whether they will apply the common law powers permitted by the Ram doctrine to enable Treasury Ministers to repay those retail deposits in the Presbyterian Mutual Society not protected by the Financial...
Asked by
Lord Laird
(Ulster Unionist Party)
Answered by
Lord Myners
(Labour)
Type
Written questions
Status
Answered
Answered on
8 April 2010
The Ministerial Working Group continues to explore all options in pursuit of mitigating the effects of the collapse of the Presbyterian Mutual Society on its members. Details of the financial support provided to UK banks, including support for retail depositor compensation payouts in Icelandic banks, for the years 2007-08 and 2008-09, are set out in the Treasury's Resource Accounts for 2007-08 (HC 539) and 2008-09 (HC61 1) respectively. Total support to Icelandic banks at 31 March 2009 amounted, at latest estimates subsequently to be revised, to £8.1 billion.
Subjects
Compensation; Bank services; Banks; Insolvency; Iceland; Presbyterian Mutual Society
Date
8 April 2010
Reference
2426; 718 c447WA
House
House of Lords
To ask Her Majesty's Government whether they will place copies of the rules, reports, annual accounts and lists of committee members of companies registered as mutual societies in the Library of the House when asked to do so by a member of the House.
To ask Her Majesty's Government whether they will place copies of the rules, reports, annual accounts and lists of committee members of companies registered as mutual societies in the Library of the House when asked to do so by a member of the House.
Asked by
Lord Laird
(Ulster Unionist Party)
Answered by
Lord Myners
(Labour)
Type
Written questions
Status
Answered
Answered on
8 April 2010
Over 8,000 mutual societies are registered with the Financial Services Authority (FSA). Each of these societies is required to place copies of rules, annual accounts and lists of committee members with the FSA. These are public documents, although the FSA charges a search fee for access.
Subjects
Disclosure of information; Company accounts; Annual reports; Membership; Management; Mutual societies
Date
8 April 2010
Reference
3131; 718 c461WA
House
House of Lords
To ask Her Majesty's Government further to the Written Answer by the Chief Secretary to the Treasury, Liam Byrne, on 26 February (Official Report, Commons, col. 806W), what is the cash value of Government spending on marketing and communications in 2009–10 on which the projection of a 25 per cent...
To ask Her Majesty's Government further to the Written Answer by the Chief Secretary to the Treasury, Liam Byrne, on 26 February (Official Report, Commons, col. 806W), what is the cash value of Government spending on marketing and communications in 2009–10 on which the projection of a 25 per cent...
Asked by
Lord Bates
(Conservative)
Answered by
Lord Myners
(Labour)
Type
Written questions
Status
Answered
Answered on
8 April 2010
Budget 2010 announced that over £11 billion of savings have now been identified by department for the years from 2012-13. This includes the consultancy, marketing and communications cuts which were identified based on 2008-09 spending levels, currently the most recent financial year that spending levels are available for. The 2008-09 spend is set out in the Public Sector Procurement Expenditure Survey 2009, published alongside Budget.
Subjects
Cost effectiveness; Communication; Government departments; Marketing
Date
8 April 2010
Reference
2973; 718 c467WA
House
House of Lords
To ask Her Majesty's Government what is the breakdown of the £5 billion of savings from targeting and prioritising spending announced in the 2009 Pre-Budget Report to be achieved by 2012–13, detailing each item forecast to save more than £25 million.
To ask Her Majesty's Government what is the breakdown of the £5 billion of savings from targeting and prioritising spending announced in the 2009 Pre-Budget Report to be achieved by 2012–13, detailing each item forecast to save more than £25 million.
Asked by
Lord Oakeshott of Seagrove Bay
(Liberal Democrat)
Answered by
Lord Myners
(Labour)
Type
Written questions
Status
Answered
Answered on
8 April 2010
The 2009 Pre-Budget Report announced £5 billion of savings by 2012-13, informed by the early findings of the Public Value Programme. These savings will be delivered through cutting lower value or lower priority spend. Budget 2010 announced further details of these savings, including:
reforming the criminal justice system and legal aid, saving £360 million in total: a rigorous process of setting benchmarks and costed service specifications for prisons and probation will save £40 million, with inefficient prisons put out to competition. Five competitions were launched in November. Further savings will be made by improving the management of cases through the system and making better use of the court estate. Twenty magistrates' courts will be closed in the first phase of this work. Reforms to legal aid will include means-testing for Crown Court cases from April 2010, and proposals to restructure the criminal legal aid market by consolidating the number of providers and increasing competition, as set out in Restructuring the Delivery of Criminal Defence Services;
improved targeting of housing growth and regeneration funding, saving £340 million: including £40 million by concluding the New Deal for Communities, and a further £300 million from rationalising regional development agency regeneration spending and programmes, including the Working Neighbourhoods Fund, the Local Enterprise Growth Initiative, and the Housing and Planning Delivery Grant;
reducing a range of budgets across the Department for Children, Schools and Families (DCSF), saving £350 million: for example, £25 million from the British Educational Communications and Technology Agency (BECTA), £40 million from the Training and Development Agency, £71 million from the end of extended schools start-up funding and £10.5 million from central administration and communications budgets;
improving the concessionary travel scheme, saving £180 million: legislation has been laid to move responsibility for administering the scheme to county councils from April 2011 and to re-establish the link between eligibility for concessionary fares and the state pension from April 2010;
reforming or eliminating allowances that are no longer relevant for staff posted overseas: for example by ending the use of business class air travel for journeys lasting less than five hours, saving a total of £13 million; and
reducing unlawful occupation of social housing, saving at least £35 million in housing benefit costs; ending smaller Communities and Local Government (CLG) funded time-limited communities programmes, saving £25 million; and rationalising other smaller CLG programmes, saving a total of £160 million.
Subjects
Cost effectiveness; Government departments
Date
8 April 2010
Reference
3182; 718 c454-5WA
House
House of Lords
To ask Her Majesty's Government how much will be saved by each department as a result of the commitment in the Pre-Budget Report 2009 to save 50 per cent of the bill for consultancy and advisory work.
To ask Her Majesty's Government how much will be saved by each department as a result of the commitment in the Pre-Budget Report 2009 to save 50 per cent of the bill for consultancy and advisory work.
Asked by
Lord Oakeshott of Seagrove Bay
(Liberal Democrat)
Answered by
Lord Myners
(Labour)
Type
Written questions
Status
Answered
Answered on
8 April 2010
Budget 2010 announced that over £11 billion of savings have been identified department-by-department for the years from 2012-13, including over £650 million by reducing consultancy spend by 50 per cent and marketing and communications by 25 per cent. Reductions will be calculated from 2008-09 spending levels, as set out in Public Sector Procurement Expenditure Survey 2009, published alongside Budget.
Subjects
Cost effectiveness; Consultants; Government departments
Date
8 April 2010
Reference
3081; 718 c453WA
House
House of Lords
To ask Her Majesty's Government which external companies have been used for consultancy and advisory work by the Asset Protection Agency and its predecessor body; and what payments have been made to those companies.
To ask Her Majesty's Government which external companies have been used for consultancy and advisory work by the Asset Protection Agency and its predecessor body; and what payments have been made to those companies.
Asked by
Lord Oakeshott of Seagrove Bay
(Liberal Democrat)
Answered by
Lord Myners
(Labour)
Type
Written questions
Status
Answered
Answered on
8 April 2010
The Asset Protection Agency has received advice from Slaughter and May, PricewaterhouseCoopers, Oliver Wyman, KPMG, Ernst & Young, BlackRock, Kreab Gavin Anderson and S. Com.
The Asset Protection Agency's annual accounts will include a robust, audited number for consultancy and advisory costs and will be available in the summer. The cost to the Asset Protection Agency of these advisory services will be fully met by RBS.
Subjects
Consultants; Expenditure; Asset Protection Agency
Date
8 April 2010
Reference
3084; 718 c451WA
House
House of Lords
To ask Her Majesty's Government which external companies have been used for consultancy and advisory work by UK Financial Investments Limited; and what payments have been made to those companies.
To ask Her Majesty's Government which external companies have been used for consultancy and advisory work by UK Financial Investments Limited; and what payments have been made to those companies.
Asked by
Lord Oakeshott of Seagrove Bay
(Liberal Democrat)
Answered by
Lord Myners
(Labour)
Type
Written questions
Status
Answered
Answered on
8 April 2010
UK Financial Investments (UKFI) operates at arm's length from Government and on a commercial basis. UKFI's expenditure will be set out in its financial statements, in accordance with the Companies Act and accounting rules, as part of its annual report and accounts each year.
HM Treasury agreed UKFI's overall budget for 2009-10 at £4.5 million, as set out in the UKFI business plan, available at www.ukfi.co.uk. This is a small fraction of the total investments for which UKFI is responsible.
In determining which supplier or contractor UKFI selects, it is necessary that this supplier meets the criteria set out in the business case and the request for proposal (RFP) to a level that maximises the value for money for UKFI.
Factors that UKFI consider include:
quality of goods;
experience of personnel;
price;
timetable for delivery; and
value-added services included in price over and above the RFP.
Decisions will not necessarily be based on lowest price but will be based on a combination of the factors set out above.
Subjects
Consultants; Expenditure; UK Financial Investments
Date
8 April 2010
Reference
3083; 718 c450-1WA
House
House of Lords
To ask Her Majesty's Government what assessment they have made of the proportionality of the requirement that customers who have not accessed their individual savings account for a year visit a branch to have a declaration read to them before using that account; and to what extent it is compatible...
To ask Her Majesty's Government what assessment they have made of the proportionality of the requirement that customers who have not accessed their individual savings account for a year visit a branch to have a declaration read to them before using that account; and to what extent it is compatible...
Asked by
Lord Lipsey
(Labour)
Answered by
Lord Myners
(Labour)
Type
Written questions
Status
Answered
Answered on
8 April 2010
There is no regulatory requirement for providers to require customers to visit a branch in these circumstances.
If an investor does not subscribe to an individual savings account (ISA) for a whole tax year, they must make a fresh application before they can make further subscriptions. This acts as a reminder that they can only subscribe to one ISA of each type per tax year. However, ISA managers are able to accept these applications over the telephone or online, rather than in a branch, should they wish to do so.
Subjects
Individual savings accounts
Date
8 April 2010
Reference
3097; 718 c452WA
House
House of Lords
To ask Her Majesty’s Government what is their estimate of government borrowing per capita in 2009-10.
To ask Her Majesty’s Government what is their estimate of government borrowing per capita in 2009-10.
Asked by
Baroness O'Cathain
(Conservative)
Answered by
Lord Myners
(Labour)
Oral questions - Lead
Status
Answered
For answer on
8 April 2010
Answered on
8 April 2010
My Lords, the Government publish estimates of public sector net borrowing in billion-pound units as a percentage of GDP. The Budget 2010 forecasts show that borrowing in 2009-10 is estimated at £1,067 billion or 11.8 per cent of GDP. The Fiscal Responsibility Act 2010 puts a legal obligation on the Government to halve the deficit over four years and have debt falling by 2015-16.
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1653
Chamber / Committee
House of Lords chamber
House
House of Lords
My Lords, the Government publish estimates of public sector net borrowing in billion-pound units as a percentage of GDP. The Budget 2010 forecasts show that borrowing in 2009-10 is estimated at £1,067 billion or 11.8 per cent of GDP. The Fiscal Responsibility Act 2010 puts a legal obligation on the Government to halve the deficit over four years and have debt falling by 2015-16.
My Lords, the Government publish estimates of public sector net borrowing in billion-pound units as a percentage of GDP. The Budget 2010 forecasts show that borrowing in 2009-10 is estimated at £1,067 billion or 11.8 per cent of GDP. The Fiscal Responsibility Act 2010 puts a legal obligation on the Government to halve the deficit over four years and have debt falling by 2015-16.
Answered by
Lord Myners
(Labour)
Asked by
Baroness O'Cathain
(Conservative)
Type
Oral answers to questions
To ask Her Majesty’s Government what is their estimate of government borrowing per capita in 2009-10.
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1653
Chamber / Committee
House of Lords chamber
House
House of Lords
My Lords, we entered the recession with the next lowest borrowing as a percentage of GDP of any G7 country, according to the OECD—evidence of the wise husbandry and prudence of my right honourable friend the Chancellor of the Exchequer at that time. We come out of this recession with a forecast from the OECD that we will have the strongest rate of economic recovery in Europe in 2010 and the second strongest in the world. Those are statistics of which we are rightfully proud.
My Lords, we entered the recession with the next lowest borrowing as a percentage of GDP of any G7 country, according to the OECD—evidence of the wise husbandry and prudence of my right honourable friend the Chancellor of the Exchequer at that time. We come out of this recession with a forecast from the OECD that we will have the strongest rate of economic recovery in Europe in 2010 and the second strongest in the world. Those are statistics of which we are rightfully proud.
Answered by
Lord Myners
(Labour)
Asked by
Baroness O'Cathain
(Conservative)
Type
Oral answers to questions
I thank the Minister. I always notice that when he gives us statistics such as these, he smiles as though they are a triumph. I just wonder if these are a triumph. The Government inherited a public sector debt of £347.2 billion in 1996-97. I remind the Minister that the latest forecast is that it will be £1,406 billion—an increase of 305 per cent—in 2014-15. The figures are mind-boggling. Is this a triumph? Surely, if the Minister thinks it is a triumph, that is an insult to our collective intelligence.
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1653
Chamber / Committee
House of Lords chamber
House
House of Lords
The Financial Services Bill, which we will look at later this morning, includes an important provision to create a new responsibility for the FSA to foster education about financial matters. I can see that many Members on the opposition Benches will be signing up. We need to look at borrowing in the context of the use made of it. I remind noble Lords that the borrowing that we have incurred over the past 12 months has been to build schools, hospitals and roads, to support infrastructure and continuing employment in a global recession.
The Financial Services Bill, which we will look at later this morning, includes an important provision to create a new responsibility for the FSA to foster education about financial matters. I can see that many Members on the opposition Benches will be signing up. We need to look at borrowing in the context of the use made of it. I remind noble Lords that the borrowing that we have incurred over the past 12 months has been to build schools, hospitals and roads, to support infrastructure and continuing employment in a global recession.
Answered by
Lord Myners
(Labour)
Asked by
Earl Attlee
(Conservative)
Type
Oral answers to questions
My noble friend’s Question was about borrowing per capita. The Minister gave us some interesting statistics; will he now answer my noble friend’s Question?
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1654
Chamber / Committee
House of Lords chamber
House
House of Lords
We need to address the very real issue that premature cutting of the fiscal stimulus that the taxpayer is providing to support the economy would undoubtedly place employment at risk, not only in the public sector—not only our teachers, nurses and others who work so well for us in the public sector—but in the private sector, which depends on its connections with the public sector. That is why it would be wrong to make early adjustment to the fiscal situation until the economic recovery is firmly established.
We need to address the very real issue that premature cutting of the fiscal stimulus that the taxpayer is providing to support the economy would undoubtedly place employment at risk, not only in the public sector—not only our teachers, nurses and others who work so well for us in the public sector—but in the private sector, which depends on its connections with the public sector. That is why it would be wrong to make early adjustment to the fiscal situation until the economic recovery is firmly established.
Answered by
Lord Myners
(Labour)
Asked by
Lord Dykes
(Liberal Democrat)
Type
Oral answers to questions
My Lords, is not the Minister rightly fearful about the threat of front-line service cuts if there is a change of government and the consequent Bullingdonisation of the British economy?
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1655
Chamber / Committee
House of Lords chamber
House
House of Lords
My right honourable friend the Prime Minister normally says, "Wrong on the banks, wrong on the economy, wrong on supporting those in need". I think that he is correct. Quite clearly the Conservative Party has been wrong on almost every matter of important judgment when it came to the global financial crisis and the global economic recession.
My right honourable friend the Prime Minister normally says, "Wrong on the banks, wrong on the economy, wrong on supporting those in need". I think that he is correct. Quite clearly the Conservative Party has been wrong on almost every matter of important judgment when it came to the global financial crisis and the global economic recession.
Answered by
Lord Myners
(Labour)
Asked by
Lord Tomlinson
(Labour)
Type
Oral answers to questions
My noble friend reminded us just now of the policies that the Government have undertaken to secure economic growth and a stable economy. Can he remind those of us with fading memories like myself what support the Government got for that programme from Her Majesty's theoretically loyal Opposition?
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1654-5
Chamber / Committee
House of Lords chamber
House
House of Lords
The noble Lord, Lord Oakeshott, makes an extremely good point, as he so frequently does on these matters. The flip-flopping of the Conservative Party on economic matters is a wonder to behold. Its concern about cutting taxation is a relatively new one, driven perhaps by the necessity of the moment, but we will remember how clearly we were being prepared for an age of austerity until it became evident that that political message was not receiving the outcome that the Conservative Party sought. There is a real inconsistency in almost everything that the Conservatives say about the economy, and that, no doubt, will be rumbled when the electorate come to vote.
The noble Lord, Lord Oakeshott, makes an extremely good point, as he so frequently does on these matters. The flip-flopping of the Conservative Party on economic matters is a wonder to behold. Its concern about cutting taxation is a relatively new one, driven perhaps by the necessity of the moment, but we will remember how clearly we were being prepared for an age of austerity until it became evident that that political message was not receiving the outcome that the Conservative Party sought. There is a real inconsistency in almost everything that the Conservatives say about the economy, and that, no doubt, will be rumbled when the electorate come to vote.
Answered by
Lord Myners
(Labour)
Asked by
Lord Oakeshott of Seagrove Bay
(Liberal Democrat)
Type
Oral answers to questions
My Lords, two weeks ago the Conservatives rubbished the Government’s claim in the Budget that they were going to make £11 billion of efficiency savings. Days later they produced £13 billion of their own efficiency savings. Is this not a total insult to our intelligence? Is it not deeply dishonest to claim that you are serious about cutting the deficit when you are making spending commitments all over the place, as the Conservatives are, with no idea how they are going to pay for them?
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1654
Chamber / Committee
House of Lords chamber
House
House of Lords
My noble friend raises a very important point. Had we not taken the action that we did to support the economy during this global recession, we undoubtedly would have had higher unemployment, higher rates of business failure and higher levels of repossession. In fact, our experience in all three dimensions has been significantly less than would have been forecast on the basis of past experience. That speaks commendably of the Government’s efforts to ensure that this global recession has had minimal impact on those who are most vulnerable in our society.
My noble friend raises a very important point. Had we not taken the action that we did to support the economy during this global recession, we undoubtedly would have had higher unemployment, higher rates of business failure and higher levels of repossession. In fact, our experience in all three dimensions has been significantly less than would have been forecast on the basis of past experience. That speaks commendably of the Government’s efforts to ensure that this global recession has had minimal impact on those who are most vulnerable in our society.
Answered by
Lord Myners
(Labour)
Asked by
Lord Brooke of Alverthorpe
(Labour)
Type
Oral answers to questions
My Lords, does my noble friend recall that in 1997 we had a legacy of 3 million people unemployed, and that there was severe unemployment during the 1980s and—induced by our own-made recession in the early 1990s—right through the 1990s. Have the Government made any estimates, from the flip-flop economic policies of the Opposition, of what the likely levels of unemployment will rise to?
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1653-4
Chamber / Committee
House of Lords chamber
House
House of Lords
The noble Baroness has not answered the Question that the noble Baroness, Lady O’Cathain, had asked, which was not the totality of—
You ought really to be familiar with your own Question. I thought for a moment I was being rude in suggesting that the opposition Benches might need some financial education, but you cannot even remember the Question that you asked.The noble Baroness asked questions about borrowing in 2009-10. The noble Baroness, Lady Noakes, answered an entirely different question.
The noble Baroness has not answered the Question that the noble Baroness, Lady O’Cathain, had asked, which was not the totality of—
You ought really to be familiar with your own Question. I thought for a moment I was being rude in suggesting that the opposition Benches might need some financial education, but you cannot even remember the Question that you asked.The noble Baroness asked questions about borrowing in 2009-10. The noble Baroness, Lady Noakes, answered an entirely different question.
Answered by
Lord Myners
(Labour)
Asked by
Baroness Noakes
(Conservative)
Type
Oral answers to questions
My Lords, I can see that the Minister, and indeed many other noble Lords, are trying very hard to avoid the Question that was put by my noble friend Lady O’Cathain. Let me tell the House that on the basis of the Government’s plans—
I will come to a question, my Lords. Every child born by 2014-15 will be born with a debt of £23,000. Will the Minister confirm that that debt of £23,000 will be doubled by the time we have added off-balance sheet liabilities that have been created by this Government and unfunded pension liabilities?
Subjects
Borrowing; Public sector
Date
8 April 2010
Reference
718 c1655
Chamber / Committee
House of Lords chamber
House
House of Lords