The Public Works Loans Board has no role in monitoring local authority activities. Under the prudential regime, decisions on borrowing are devolved to local authorities who are democratically accountable to their electorates. Information about the purpose of PWLB loans is not centrally held.” The Ministry of Housing, Communities and Local Government (MHCLG) has stewardship of the local government sector in England. Together with the Chartered Institute of Public Finance and Accountancy (CIPFA), they maintain the statutory guidance on local authority borrowing and investment. In light of changes in local authority borrowing and investment patterns, CIPFA and MHCLG updated the prudential code and statutory guidance in 2018.

The aggregate amount that may be outstanding in respect of commitments entered into by the Public Works Loan Board is limited, and this limit set out in section 4 (1) of the 1968 National Loans Act. Since December 2017, the limit has stood at £85 billion. There is no separate limit about lending amounts in any one year.

Local authorities are responsible for determining their own limits on the aggregate amount of borrowing that they may have outstanding. The statutory guidance on borrowing and investment was updated in 2018; the updated guidance introduced a new requirement for all English local authorities to set limits for gross debt compared to net service expenditure. Authorities which exceeded their self-assessed limits should, in accordance with the guidance, refrain from making further investments other than short term investments required for efficient treasury management.

In England, commercial property investments, like any other asset purchases are categorised as capital expenditure. The decision making process for all capital investment and funding including commercial property investments is devolved to each individual local authority. Central Government sets the framework which local authorities must operate within and it is designed to ensure that the capital expenditure plans of local authorities are affordable, prudent and sustainable.

No direct funding is made available to local authorities for commercial asset acquisitions from Central Government. If a local authority chooses to purchase commercial assets they will have to finance it using one of 3 potential sources. These are:

1. Capital receipts - Statute states that funds generated through the sale of assets must be used for the purchase of future assets or for the repayment of debt

2. Direct revenue transfers - Revenue funds can be used to fund capital expenditure

3. Borrowing - If borrowing is used the local authority must ensure that the amount borrowed is affordable by having regard to statutory guidance. This involves ensuring that all debt servicing costs are funded through available revenue resources.

Local authorities are not required to disclose how they have financed each capital investment, therefore, it is not possible to identify the mix sources that have been used to fund commercial property investments.

As local authority financing is a devolved matter, all questions about commercial property investments by local authorities in Scotland, Wales and Northern Ireland need to be addressed to the devolved administrations.

Internal Lloyds reports in relation to the Halifax Bank Of Scotland, Reading branch fraud should be passed to the independent Financial Conduct Authority and Lloyds Banking Group, both of which are conducting on-going investigations on this matter.

A clear majority of the UK electorate voted to leave the EU and we will respect the will of the people. As Government lawyers made clear in the High Court, the Government's position is that once given, our notification will not be withdrawn.

Our efforts will be focused on getting the best deal possible for the UK in the negotiations with the EU.

Should an investment contract be agreed for Hinkley Point C, it would be laid before Parliament subject to the redaction of confidential data in accordance with the provisions set out in the Energy Act. The Government also has committed to publish summaries of reports from expert technical and financial advisers, including a value for money assessment. This would include the extent to which the strike price would provide a reasonable return to the developer whilst being affordable and representing value for money.

We have reached an agreement with EDF which provides for a fair return to the developer whilst representing value for money to consumers.

In his annual report published in July 2013, the Independent Reviewer of Terrorism Legislation, David Anderson QC reported that 670 people were detained under Schedule 7 to the Terrorism Act 2000 in 2012-13. Absolute numbers of those people determined to be involved in terrorism,

or not involved, are unavailable. Those conclusive determinations may not be made for some time as terrorism investigations are typically long-running, and draw on a wide range of information including information derived from examinations under Schedule 7.

My Lords, we are spending more on infrastructure projects this year. Capital spending by the departments responsible for economic infrastructure—DfT, DECC and Defra—is increasing. The transport budget, for example, rises from £7.7 billion last year to £8 billion this year, then £8.7 billion next year and £8.9 billion in 2014-15, which is more than at any point under the last Government. This has been possible because the Government increased infrastructure spending by £10 billion over the past two Autumn Statements, increases which the Budget committed to making permanent, with a further £3 billion a year from 2015-16.

My Lords, first, it is necessary to clear up the numbers. There is a significant difference between public investment numbers and investment in infrastructure. Public investment includes huge investments in health and in defence, so there is a significant difference there. Also, if you look at the national infrastructure plan, you see that approximately 80% of the investment that we expect over the next 15 years in fact comes from the private markets and not from public capital expenditure.

The Government do not formally forecast infrastructure investment from both the public and private sectors. An infrastructure pipeline providing an indicative estimate of planned infrastructure investment from both the public and private sector was provided by the Government as part of the update of the national infrastructure plan at Autumn Statement 2012 and is available on the Treasury website.¹ This pipeline showed that total infrastructure investment for the period 2011-12 was £33 billion.

http://www.hm-treasury.gov.uk/infrastructure_pipeline_data.htm

The Government have introduced a number of crucial reforms to the planning system to support business and investment since 2010. We have abolished the Infrastructure Planning Commission to ensure that decisions under the Planning Act on major infrastructure projects are now taken by democratically accountable Ministers. In addition, we are taking forward further planning measures on infrastructure in the Growth and Infrastructure Bill. These include extending the principle of a one-stop shop for non-planning consents for major infrastructure, bringing a new category of commercial and business development into the regime, and reforming special parliamentary procedure.

The publication of the National Planning Policy Framework in 2012 cut over 1,300 pages of guidance down to around 50, and requires local authorities to adopt a positive approach to growth and delivering infrastructure. Our reforms to the community infrastructure levy, including preventing double charging, have improved its operation and increased its ability to make a significant contribution to the provision of essential local infrastructure.

The Government are also putting in place a whole range of other planning measures to incentivise growth and investment. Progress on these is set out in the planning section of the Plan for Growth implementation update which can be accessed from the Following link: http://cdn.hmtreasury.gov.uk/growth_implementation_update_dec2012.pdf

The Government have taken steps and continue to encourage investment in infrastructure from investment funds, specifically pension funds. In November 2011, the National Association of Pension Funds (NAPF), the Pension Protection Fund (PPF) and HM Treasury signed a memorandum of understanding to facilitate investment in infrastructure through the development of a platform or conduit, leading to the development of the Pension Infrastructure Platform (PIP).

The Government support constitutional reform in Burma and are working with key Burmese institutions involved in the reform process including the Burmese military. The recent appointment of a defence attaché to our embassy in Rangoon will provide an important channel for engagement with the Burmese military.

During his visit to Burma in December 2012, the Minister of State for Foreign and Commonwealth Affairs, my right honourable friend the Member for East Devon (Mr Swire), raised with Burmese ministers the prospects for Burma's transition towards democracy and offered support as Burma seeks to reform its laws

and processes. He repeated this offer of support to members of the Burmese parliament including Aung San Suu Kyi.

On 23 April 2012, EU Foreign Ministers agreed to suspend all EU sanctions on Burma for one year, apart from the arms embargo and restrictions on the supply of equipment which could be used for international repression. This was in recognition of the significant progress made by the Burmese Government against the EU’s benchmarks as set out in council conclusions of January 2012. This included the release of a significant number of political prisoners, the signing of ceasefires with ten of eleven major armed ethnic groups and the largely free and fair conduct of parliamentary by-elections on 1 April 2012.

The EU Foreign Affairs Council will meet on 22 April. Foreign Ministers from EU member states will consider whether to lift, suspend or reimpose sanctions on Burma at this time. The decision will be guided by the Foreign Ministers' collective views on the Burmese Government's efforts to make further progress against them. If unanimity cannot be reached, sanctions will fall away in their entirety. The nature of these discussions will be reflected in EU Foreign Affairs council conclusions, which will be made public.

UK assistance to Burma in relation to reviewing and drafting laws has been principally to Burma’s Parliament and civil society, rather than directly to the Burmese Government. In December 2012, the UK hosted a visit by the Burmese Bills Committee to Parliament, and the UK has arranged visits of advisers to Burma who have discussed with Burmese Members of Parliament the foreign investment law and the central bank law.

The UK, through the British Council, is also assisting the parliamentary committee in Burma to draft the new higher education law. In addition, again through the British Council, we have supported a civil society consultation process on forest and land laws.

The Secretary of State for International Development met Aung San Suu Kyi when she visited the Department for International Development (DfID) on 21 June. At the meeting they discussed a range of issues which included the importance of donor co-ordination, work on anti-corruption, improving transparency, responsible investment, and the work of the Westminster Foundation for Democracy (WFD) which is visiting Burma this month.

Discussions did not focus specifically on refugees but DfID continues to provide support and keeps this under review.