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  • Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Kevin Brennan on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of differences in the ability of the Green Investment Bank to secure investment in (a) offshore wind power generation, (b) commercial and industrial waste processing and recycling, (c) energy from waste generation, (d) non-domestic energy efficiency and (e) support for the Green Deal as (i) public and (ii) private sector organisation.

    Anna Soubry

    The Green Investment Bank (GIB) contributes to UK green policy objectives by mobilising much needed private capital into green sectors, demonstrating that green investment can be profitable.

    GIB will continue to perform that role in private ownership – increasing investment and making profits from green sectors that are relatively mature but nevertheless suffer from a lack of investment.

  • Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Kevin Brennan on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, what recent assessment he has made of differences in the ability of the Green Investment Bank to promote the (a) reduction of greenhouse gas emissions, (b) advance of efficiency in the use of natural resources, (c) protection or enhancement of the natural environment, (d) protection of enhancement of biodiversity and (e) promotion of environmental sustainability as a (i) public and (ii) private sector organisation.

    Anna Soubry

    The Green Investment Bank (GIB) contributes to UK green policy objectives by mobilising much needed private capital into green sectors, demonstrating that green investment can be profitable.

    GIB will continue to perform that role in private ownership – increasing investment and making profits from green sectors that are relatively mature but nevertheless suffer from a lack of investment.

    In private hands, GIB will have access to much more capital than if it remained in Government hands and will be able to have a bigger impact.

  • Christopher Chope – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Christopher Chope – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Christopher Chope on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, pursuant to the Answer of 22 January 2016 to Question 22596, what assessment he has made of the net negative impact on business of the Employment Appeal Tribunal decision in Bear Scotland and other court decisions relating to holiday pay.

    Nick Boles

    The Department has produced an Impact Assessment of the implications for business of holiday pay cases such as Bear Scotland. This was published alongside the Deduction from Wages (Limitation) Regulations 2014, which limit backdated holiday pay claims to two years from 1 July 2015. The Impact Assessment can be found on the legislation.gov.uk web site at this link

    http://www.legislation.gov.uk/uksi/2014/3322/impacts

    “

  • Julian Knight – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Julian Knight – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Julian Knight on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, whether he plans to carry out an impact assessment after completion of the further education area review.

    Nick Boles

    Government will produce an evaluation of the area review programme and its potential to impact on groups protected by the Equality Act 2010. The reviews do not however, mandate action, and colleges are independent corporations, so it will be for each college’s governing body to assess the potential impact on groups protected by the Act, as part of its decision to accept or reject any recommendation requiring a change to their provision

  • Julian Knight – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Julian Knight – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Julian Knight on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, what plans he has to organise a high-level trade mission to Bangladesh.

    Anna Soubry

    Over one hundred UK companies already operate in Bangladesh and I would like to see more exporting to the country. Bangladesh has taken impressive economic strides over the past decade leading to increased opportunities for UK and Bangladeshi companies to work meaningfully together for the benefit of both economies. We are currently exploring a visit to Bangladesh in the coming months by my noble friend, Lord Maude of Horsham, including the possibility of an accompanying trade delegation

  • Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Kevin Brennan on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, what plans his Department has to ensure that a privatised Green Investment Bank will support the UK’s cities, regions and nations in creating robust low carbon economies.

    Anna Soubry

    The Green Investment Bank (GIB) can best contribute to UK green policy objectives by doing what it does best – achieving the demonstration effect and mobilising much needed private capital into green sectors.

    GIB will continue to perform that role in private ownership – getting more investment into green sectors that are relatively mature but nevertheless suffer from a lack of investment

    In private hands, GIB will have access to much more capital than if it remained in Government hands – and will be able to have a bigger impact.

  • Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Kevin Brennan on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, what effect the European Commission’s decision to grant the Green Investment Bank scope to operate with aided capital until mid-2017 has had on his Department’s policy on privatising that bank.

    Anna Soubry

    The original European Commission state aid decision on the Green Investment Bank (GIB) gave approval for GIB to operate until October 2016. While we expect to move GIB into private ownership during the course of 2016, the Government has obtained an updated state aid approval that provides the scope for GIB to operate as a state funded enterprise until the end of March 2018. This ensures GIB could continue to operate should the sale process extend beyond October.

  • Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Kevin Brennan – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Kevin Brennan on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, what plans his Department has to ensure that a privatised Green Investment Bank will work to open major new investment options for investors in the UK’s low carbon economy while making a material contribution to decarbonisation.

    Anna Soubry

    Details of why the Government believes moving UK Green Investment Bank plc (GIB) into private ownership represents the best way to enable the company to deliver its ambitious green business plan and have a greater impact on green investment while minimising burdens on the UK taxpayer are provided in our November 2015 policy statement on the future of GIB and are further set out in the Government’s response to the Environmental Audit Committee’s report on the future of GIB which was laid in Parliament on 2 February. Both documents can be found on the GIB pages of the GOV.UK website.

  • Kevan Jones – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Kevan Jones – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Kevan Jones on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, what discussions his Department has had with the Ministry of Defence on the future of Sheffield Forgemasters and the successor programme.

    Anna Soubry

    My Department is in regular contact with MoD on a wide range of supply chain issues including in the steel sector. These discussions include individual steel plants such as Sheffield Forgemasters.

  • Adam Afriyie – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Adam Afriyie – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Adam Afriyie on 2016-01-27.

    To ask the Secretary of State for Business, Innovation and Skills, what steps he plans to take to widen access to sources of alternative finance.

    Anna Soubry

    Alternative finance is a rapidly growing sector. Latest figures from the Peer-to-Peer Finance Association (P2PFA) show that new SME loans originated by their members increased by 89% year-on-year in the fourth quarter of 2015. Equity crowdfunded deal numbers and investment totals have also been steadily rising. The British Business Bank is an active participant in the sector and during the last 12 months has supported 3,301 businesses through the peer-to-peer platforms Funding Circle, RateSetter and Zopa.

    A key element in the growth of the UK alternative finance sector has been a regulatory environment that supports innovation while protecting both investors and businesses. In addition, government is bringing into effect provisions in the Small Business, Enterprise and Employment Act 2015 which will require the largest banks – where they decline lending requests from small business customers – to offer those customers the opportunity for their details to be referred to a government-designated funding platform. These platforms will help match SMEs with alternative finance providers and will be brought into operation later this year.