Tag: Chuka Umunna

The below Parliamentary question was asked by Chuka Umunna on 2014-04-03.

To ask the Secretary of State for Business, Innovation and Skills, what process the Government adopted to (a) identify and (b) select priority investors in the recent Royal Mail privatisation.

Michael Fallon

The process of investor engagement commenced 12 months prior to the Initial Public Offering (IPO). In the initial period, Royal Mail’s management met with over 60 high quality institutions to educate them about the business. During pilot fishing in early September 2013, the management team and the Government’s banking advisers engaged further with a focused group of 21 well-informed and longer-term investors. Initial indications of potential demand were received from this group; this gave the Government the confidence to proceed with announcing the Intention to Float on 12^th September 2013.

The below Parliamentary question was asked by Chuka Umunna on 2014-04-03.

To ask the Secretary of State for Communities and Local Government, how many jobs have been (a) created and (b) safeguarded at each enterprise zone to date; how many (i) jobs and (ii) firms are currently based at each enterprise zone; and how many businesses have begun occupying premises at each enterprise zone since it began operation.

Kris Hopkins

More than 7,600 jobs have been created and 260 new businesses attracted to the 24 Enterprise Zones over the period April 2012- December 2013. However, I am unable to disclose zone-level information as the estimates that Enterprise Zones provide us with may be subject to local commercial sensitivities and disclosure may prejudice commercial negotiations. For this reason, it is for individual zones to determine whether they make this information available.

The below Parliamentary question was asked by Chuka Umunna on 2014-04-03.

To ask the Secretary of State for Business, Innovation and Skills, for what reasons details of arrangements with priority investors in respect of the privatisation of Royal Mail were not published at the time of that privatisation.

Michael Fallon

The Government did not enter into any direct arrangements with investors. All institutional investors entered into agreements with the underwriting banks (the syndicate) to purchase their allocated shares at the offer price. This is standard practice and applied to all investors.

Details of individual allocations were not disclosed because all investors in Royal Mail – whether individuals or institutions – have a legitimate expectation of privacy.

The below Parliamentary question was asked by Chuka Umunna on 2014-04-03.

To ask the Secretary of State for Communities and Local Government, how many vacant premises are currently located at each enterprise zone.

Kris Hopkins

More than 7,600 jobs have been created and 260 new businesses attracted to the 24 Enterprise Zones over the period April 2012- December 2013. However, I am unable to disclose zone-level information as the estimates that Enterprise Zones provide us with may be subject to local commercial sensitivities and disclosure may prejudice commercial negotiations. For this reason, it is for individual zones to determine whether they make this information available.

The below Parliamentary question was asked by Chuka Umunna on 2014-04-03.

To ask the Secretary of State for Business, Innovation and Skills, what incentives were (a) offered to (b) accepted by priority investors in relation to Royal Mail privatisation.

Michael Fallon

No incentives were offered to priority investors.

The below Parliamentary question was asked by Chuka Umunna on 2014-04-03.

To ask the Secretary of State for Communities and Local Government, what assessment he has made of the extent to which firms in each region will be economically disadvantaged as a result of the Government’s decision to delay the revaluation of business rates; and if he will publish a list of firms likely to be so disadvantaged.

Brandon Lewis

The Valuation Office Agency published their high level estimates of the impacts of a revaluation in 2015 on 12 November 2012. Their analysis suggests that around 800,000 premises would have seen a real terms increase in their rates at a 2015 revaluation compared with around 300,000 seeing a decrease. A copy of that analysis, including which sectors would have been hardest hit by a 2015 revaluation, is available in the Library of the House.

The below Parliamentary question was asked by Chuka Umunna on 2014-04-03.

To ask the Secretary of State for Business, Innovation and Skills, how many apprentices aged (a) 16 to 18, (b) 19 to 24 and (c) 25 years or over are employed at each of his Department’s executive agencies, non-departmental public bodies and associated bodies and agencies.

Matthew Hancock

I have asked chief executives of the Executive agencies to respond directly to the Hon Member.

Until 2013, the Department for Business, Innovation and Skills did not keep a record of the age of internal apprentices. The table shows the age of both externally recruited apprentices since 2010 and ages of those apprentices embarking on the Departments’ internal apprenticeship programme in 2013. The 2013 figure refers to the ages of those on the Departments’ internal programme. There are no externally recruited apprentices in the 25 years or over category.

	2010	2011	2012	2013
16 to 18	0	0	0	1
19 to 24	2	1	2	11
25 years or over	0	0	0	16

The Department for Business Innovation and Skills currently has 53 apprentices. We have had 4 successful completions this year.

16 of these 53 apprentices are under the age of 21 with a further 6 apprentices under 21 expected to join the Department later in the year.