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Oath

Baroness Vadera made the solemn affirmation.
Lead member
Baroness Vadera
Type
Non-legislative formal proceedings
Date
7 December 2010
Reference
723 c115
House
House of Lords
Banking: Small Businesses

To ask Her Majesty's Government how they will help small businesses not securing finance from their banks due to differing lending policies.
Asked by
Lord Taylor of Warwick (Conservative)
Type
Written questions
Status
Answered
Notes
Answer received between Tuesday 1 September 2009 and Monday 7 September 2009.
Date
5 October 2009
Reference
712 c434-5WA; 5296
House
House of Lords
Regional Venture Capital Funds

To ask Her Majesty's Government whether they will make public information regarding the performance of Regional Venture Capital Funds.
Asked by
Lord Taylor of Warwick (Conservative)
Type
Written questions
Status
Answered
Notes
Answer received between Monday 24 August and Tuesday 1 September 2009.
Date
5 October 2009
Reference
712 c431WA; 5298
House
House of Lords
Regional Venture Capital Funds

To ask Her Majesty's Government whether the UK Innovation Investment Fund and the Regional Venture Capital Funds have improved the flow of money to small, potentially fast-growing businesses.
Asked by
Lord Taylor of Warwick (Conservative)
Type
Written questions
Status
Answered
Notes
Answer received between Monday 24 August and Tuesday 1 September 2009.
Date
5 October 2009
Reference
712 c430-1WA; 5297
House
House of Lords
Compact Annual Review

My right honourable friend the Minister of State, Cabinet Office (Angela E. Smith) has made the following Written Ministerial Statement. I am today placing in the Library of both Houses of Parliament copies of the report of the annual meeting held on 2 December 2008 and the action plan 2009-10....
Member
Baroness Vadera (Labour)
Department
Cabinet Office
Type
Written statements
Date
20 July 2009
Reference
712 c142-3WS
House
House of Lords
Cabinet Office: Annual Report and Accounts

My right honourable friend the Minister for the Cabinet Office (Tessa Jowell) has made the following Written Ministerial Statement. Today, the Cabinet Office’s annual report and accounts 2008-09 (HC 442) have been laid before Parliament. The annual report and accounts report a loss and a contingent asset following the termination...
Member
Baroness Vadera (Labour)
Department
Cabinet Office
Type
Written statements
Date
16 July 2009
Reference
712 c106-7WS
House
House of Lords
Banking: Social Investment Wholesale Bank

My right honourable friend the Minister of State, Cabinet Office (Angela E. Smith) has made the following Written Ministerial Statement. The Office of the Third Sector has today published a Social Investment Wholesale Bank consultation which sets out the vision, the economic case and consults on proposals for the design...
Member
Baroness Vadera (Labour)
Department
Cabinet Office
Type
Written statements
Date
15 July 2009
Reference
712 c84WS
House
House of Lords
North-East England: Socio-Economic Prospects

My Lords, I am grateful to the noble Lord, Lord Bates, for his informative history, as well as for giving us the opportunity to discuss the prospects of the north-east region. As the noble Lord said, it is very special in historic, cultural and economic terms. It is also a...
Member
Baroness Vadera (Labour)
Type
Proceeding contributions
Date
14 July 2009
Reference
712 c1123-6
House
House of Lords
North-East England: Socio-Economic Prospects

Lords question for short debate on what is their assessment of the socio-economic prospects for the north-east of England.
Lead member
Lord Bates
Answering member
Baroness Vadera
Department
Department for Business, Innovation and Skills
Type
Questions for short debate
Date
14 July 2009
Reference
712 c1111-26
House
House of Lords
Sir Alan Sugar

To ask Her Majesty's Government whether the Enterprise Champion, Sir Alan Sugar, will be required to consult the Minister for Economic Competitiveness and Small Business, Baroness Vadera, on the exercise of his responsibilities.
Asked by
Baroness Seccombe (Conservative)
Type
Written questions
Status
Answered
Date
6 July 2009
Reference
4153; 712 c115-6WA
House
House of Lords
Sir Alan Sugar

To ask Her Majesty's Government to which Minister the Enterprise Champion, Sir Alan Sugar, will report.
Asked by
Baroness Seccombe (Conservative)
Type
Written questions
Status
Answered
Date
6 July 2009
Reference
4150; 712 c115-6WA
House
House of Lords
Civil Service (Management Functions) Act 1992

My right honourable friend the Minister of State, Cabinet Office (Angela E Smith) has made the following Written Ministerial Statement. During 2007 delegations/authorisations were made to the Ministry of Justice, the Welsh Assembly Government and the National School of Government and in 2008, to the Government Equalities Office and the...
Member
Baroness Vadera (Labour)
Department
Cabinet Office
Type
Written statements
Date
24 June 2009
Reference
711 c115WS
House
House of Lords
Insolvency
My Lords, about six out of 10 pre-packs, as the noble Baroness says, are phoenix, meaning going back to the original owners. However, one has to remember that the plight of small creditors, which I feel acutely as Small Business Minister, is actually the result of the insolvency, not of the pre-pack, and there is no evidence to suggest that small creditors fare worse in a pre-pack than in any other type of administration. Of course, there is evidence to suggest that more jobs are saved: 90 per cent of jobs are saved under pre-pack and about 60 per cent under other administrations.
Answered by
Baroness Vadera (Labour)
Type
Oral answers to questions
Date
23 June 2009
Reference
711 c1458
House
House of Lords
Civil Service: Fast-stream

My right honourable friend the Minister of State, Cabinet Office (Angela E Smith) has made the following Written Ministerial Statement: The 2008 Fast Stream recruitment report is being published online today at http://www.cabinetoffice.gov. uk/reports/faststream.aspx. Copies have been placed in the Library and are also available in the Vote Office and...
Member
Baroness Vadera (Labour)
Department
Cabinet Office
Type
Written statements
Date
23 June 2009
Reference
711 c106WS
House
House of Lords
Insolvency
My Lords, in the right circumstances pre-packaged administration can deliver benefits by saving troubled businesses, thus preserving value that would otherwise be lost. It can potentially be more effective at saving jobs than other types of administration. However, it is important that the system is monitored and not subject to abuse. On 1 January 2009, we introduced mandatory requirements for administrators to report to creditors on all aspects of a pre-pack as soon as possible. These arrangements are being actively policed by the Insolvency Service, which is examining every pre-pack report it receives, and will publish a report before the Summer Recess.
Answered by
Baroness Vadera (Labour)
Type
Oral answers to questions
Date
23 June 2009
Reference
711 c1457-8
House
House of Lords
Insolvency
My Lords, we will look, and indeed are looking, at the evidence from the administration’s pre-packs, in particular, and the returns that we are going to receive. We will see if there is evidence of any abuse or misuse both by company directors and insolvency practitioners. That is the place at which to root out any abuse that occurs. However, we must not forget the benefit of pre-packs: more jobs and companies are saved and there is a better economic outcome than by other sorts of administration in certain circumstances. It would be extremely unfortunate to lose that benefit because we are not able to understand the underlying facts.
Answered by
Baroness Vadera (Labour)
Type
Oral answers to questions
Date
23 June 2009
Reference
711 c1459-60
House
House of Lords
Insolvency
My Lords, it is a fundamental fact of capitalism and doing business that the ranking in a company is: secured creditors, preferential creditors such as employees, creditors secured against a floating charge, and unsecured trade creditors. It is not practical or sensible to change that. It is a fact of the insolvency rather than the administration. Insolvency means by definition that there are not enough assets or there is not enough cash flow to cover the liabilities. That is what results, unfortunately, for small unsecured creditors. It is not because of the nature of the administration. I did indeed read the article to which the noble Baroness refers and, while I understand that it is an emotive issue, we have, at least in this House, the ability to understand the underlying fundamental facts of what is happening.
Answered by
Baroness Vadera (Labour)
Type
Oral answers to questions
Date
23 June 2009
Reference
711 c1459
House
House of Lords
Insolvency
My Lords, the Insolvency Service is part of the Government, so there is no question of passing this on. However, while this is an emotive issue, it is very important to consider the facts. The insolvency practitioners are required to ensure value for creditors, to protect employees and, since the Enterprise Act, to see whether companies can remain as going concerns. They have to look at the best way of doing this, and if the only available buyer is the existing owner, it would simply be cutting off your nose to spite your face to say, "We are not prepared to do this. Instead, we will put it into some other form of administration". The requirement is for people to ensure that the best value is created for creditors and that the company is protected as best it can be. That is what we investigate. It is not just a matter for the Insolvency Service; it is a matter of policy.
Answered by
Baroness Vadera (Labour)
Type
Oral answers to questions
Date
23 June 2009
Reference
711 c1458-9
House
House of Lords
Insolvency
My Lords, SIP 16 does indeed provide us with powers that require and enforce transparency, which is the key to this issue. If the Insolvency Service finds abuse, both the insolvency practitioner and the directors are investigated. There were 105 cases last year of action taken against insolvency practitioners and directors themselves. Noble Lords will be aware that every working day five company directors are struck off and one is criminally convicted. We police this very actively. The purpose of SIP 16 was transparency.
Answered by
Baroness Vadera (Labour)
Type
Oral answers to questions
Date
23 June 2009
Reference
711 c1458
House
House of Lords
Insolvency
To ask Her Majesty’s Government what assessment they have made of the impact of using pre-packaged administrations (pre-packs) in undisclosed insolvency proceedings on small- and medium-sized enterprises which are suppliers to businesses restructured in this way; and whether they have any proposals for greater transparency or minimum disclosure.
Asked by
Baroness Gardner of Parkes (Conservative)
Oral questions - Lead
Status
Answered
Date
23 June 2009
Reference
711 c1457-8
House
House of Lords