Tag: Angela Rayner

The below Parliamentary question was asked by Angela Rayner on 2016-01-25.

To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 4 December 2015 to Question 17647, how many of the 650,000 women who will receive an average of £8 per week more for the first 10 years of the new state pension were born between 6 April 1953 and 5 December 1953.

Justin Tomlinson

The Department published analysis on the impact of the new State Pension (nSP) in January 2016 showing that 650,000 women stand to gain on average £8 per week over the next ten years as a result of the nSP valuation. This is available at:

https://www.gov.uk/government/publications/new-state-pension-impact-on-an-individuals-pension-entitlement-longer-term-effects

The specific information requested is not available.

“

The below Parliamentary question was asked by Angela Rayner on 2016-06-15.

To ask the Secretary of State for Defence, what steps he is taking to improve the standard of housing for service personnel.

Mark Lancaster

The Ministry of Defence is committed to improving the quality of Service Family Accommodation (SFA) provided to our Service personnel. 88% of SFA currently meet or exceed the decent homes standard. If a property fails to meet the standard, it will either be upgraded or disposed of.

Since financial year 2010-11 investment in housing has resulted in:

The separate installation of some 12,000 kitchens, bathrooms, or central heating systems and the insulation of 16,692 lofts.

The below Parliamentary question was asked by Angela Rayner on 2015-12-07.

To ask the Secretary of State for Business, Innovation and Skills, what recent discussions he has had with the Secretary of State for Culture, Media and Sport on steps to improve competition in the broadband market.

Nick Boles

My right hon. Friend the Secretary of State for Business, Innovation and Skills has regular discussions with my right hon. Friend the Secretary of State for Culture, Media and Sport on a wide range of issues.

The below Parliamentary question was asked by Angela Rayner on 2016-02-05.

To ask the Secretary of State for Work and Pensions, what steps he is taking to ensure cost transparency from pooled retail pension funds.

Justin Tomlinson

It is important that savers know what costs and charges they are paying. As a first step towards achieving this, most occupational pension schemes offering money purchase benefits are now required to report the charges levied on members and, as far as they are able, transaction costs, via an annual Chair’s Statement. The Chair’s Statement, which must be given to beneficiaries and recognised trade unions on request, must also report the trustees’ view on the extent to which these costs present value for members.

Similarly, the Financial Conduct Authority have made rules requiring Independent Governance Committees to report annually on the value for money offered by workplace personal pension schemes, taking into account scheme charges and transaction costs.

The government is committed to ensuring that members of pension schemes are also able to obtain information about all the costs and charges which they bear. Last year, the Government and the FCA jointly carried out a call for evidence on disclosure of transaction costs in pension schemes, and we are currently planning our next steps.

Many pension schemes which invest in pooled funds do so via institutional versions of retail funds, for which costs other than the disclosed investment management fee will be similar. Retail funds will be covered by the Packaged Retail Investment and Insurance Products (PRIIPs) Regulation, which will apply from the end of 2016 and provides for enhanced minimum standards of disclosure.

The below Parliamentary question was asked by Angela Rayner on 2015-12-07.

To ask the Secretary of State for Culture, Media and Sport, what recent progress his Department has made in helping improve digital skills in the workforce.

Mr Edward Vaizey

This Government is committed to improving digital skills in the workforce and creating a strong digital skills talent pool. Recent schemes include working with the Open University to create a free online course ‘Introduction to Cyber Security’, taken up by 70,000 learners, and reformed apprenticeships to provide employers with the digital skills they need in the workforce. From September 2015, 300 degree level digital apprenticesstartedtheir programmes – double what wasoriginallyannounced -providing the digital and professional skills that employers needand value.

The below Parliamentary question was asked by Angela Rayner on 2016-02-09.

To ask the Secretary of State for Work and Pensions, what contingency plans his Department has developed to protect UK pensioners living in other EU member states in the event of UK exit from the EU.

Justin Tomlinson

I refer the hon. Member to the answer given by the Prime Minister on 14 January 2016 to Question UIN 21952.

“

The below Parliamentary question was asked by Angela Rayner on 2015-12-07.

To ask the Secretary of State for Business, Innovation and Skills, whether he has had discussions with the Secretary of State for Culture, Media and Sport on protecting people from harassment from nuisance calls.

Nick Boles

My Rt hon. Friend the Secretary of State for Business, Innovation and Skills has regular discussions with his counterpart at the Department for Culture, Media and Sport on a wide variety of issues.

The below Parliamentary question was asked by Angela Rayner on 2016-02-09.

To ask the Secretary of State for Work and Pensions, what assessment he has made of the potential effect on UK pensioners living in another EU member state of a British withdrawal from the EU.

Justin Tomlinson

I refer the hon. Member to the answer given by the Prime Minister on 14 January 2016 to Question UIN 21952.

“

The below Parliamentary question was asked by Angela Rayner on 2015-12-07.

To ask the Secretary of State for Business, Innovation and Skills, what estimate he has made of the number of small businesses which have received financial assistance from (a) peer-to-peer lenders and (b) other alternative funding sources.

Anna Soubry

According to NESTA, peer-to-peer business lending in the UK grew at a rate of 250 per cent annually between 2012 and 2014. The Peer-to-Peer Finance Association publishes quarterly updates, which show net new lending of £251m in the third quarter of 2015 of which £91m was to small businesses. Although the number of businesses is not stated, Funding Circle (which accounts for £66m of the £91m net new lending) had 10,755 borrowers at the end of the quarter. The total is therefore likely to be close to 15,000.

Equity crowdfunded deal numbers and investment totals are less readily available. The British Business Bank cites market investment data recorded by Beauhurst which show that in the first half of 2014, £24m was raised across 101 crowdfunded equity investments. Using survey data, NESTA has produced a higher estimate of £31m for the same period and £84m for 2014 as a whole.

The below Parliamentary question was asked by Angela Rayner on 2016-02-22.

To ask the Secretary of State for Work and Pensions, what assessment he has made of the potential merits of providing a fiduciary duty for the governance committees of pension funds to their members.

Justin Tomlinson

Under Financial Conduct Authority (FCA) rules introduced in April 2015, independent governance committees (IGCs) have a clear duty to challenge providers on the value for money of their workplace pension schemes, acting in members’ interests, raising concerns and making recommendations as appropriate. The provider must also make arrangements for member views to be directly represented to the IGC.

The provider’s board has a “comply or explain” duty in response to recommendations from the IGC and if the IGC is not content with the board’s response it can escalate to the FCA, to members of the scheme and to the public. When coupled with the IGC’s duty to act in members’ interests, this provides a practical and direct way of ensuring good member outcomes.