Tag: Lord Birt

The below Parliamentary question was asked by Lord Birt on 2015-12-09.

To ask Her Majesty’s Government, further to the Written Answer by Lord Deighton on 10 February (HL4482), what assessment they have made of what is an acceptable and safe level of borrowing for (1) individuals and households, (2) non-financial corporations, and (3) financial institutions.

Lord O’Neill of Gatley

The government does not have an explicit target for household or corporate borrowing. The government is adamant not to repeat the mistakes of the past, which is why it created the independent Financial Policy Committee (FPC) within the Bank of England to ensure that emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed.

The below Parliamentary question was asked by Lord Birt on 2016-09-05.

To ask Her Majesty’s Government what is their assessment of the trend of investment in the British economy since the referendum on the UK’s membership of the EU.

Lord O’Neill of Gatley

Before the referendum on the UK’s membership of the EU, the UK government published short-term and long-term assessments of the likely impact on the economy of the UK leaving the EU. HM Government is monitoring economic developments closely and the independent Office for Budget Responsibility will produce an updated economic forecast alongside Autumn Statement 2016.

The below Parliamentary question was asked by Lord Birt on 2015-12-09.

To ask Her Majesty’s Government, further to the Written Answer by Lord Deighton on 9 March (HL5261), whether they have considered setting an explicit target for private-sector and financial corporation debt, and if not, why not.

Lord O’Neill of Gatley

As mentioned in the answer of 9 March, the Government does not set a specific target for private sector debt. However, the Financial Policy Committee (FPC), established as a policy committee of the Bank of England, is empowered to identify, assess, monitor and take action in relation to risks across the UK financial system. This includes risks which arise from beyond the core banking sector (such as private sector debt). The FPC actively monitors developments in the aggregate level of credit extended to UK households and private non-financial corporations, and has the macroprudential policy tools required to address any risk it identifies.

For example, the countercyclical buffer is a macroprudential instrument which is designed to protect the banking sector from periods of excess aggregate credit growth that can contribute to system-wide risk. The countercyclical buffer rate in the UK is currently set at 0%, and is reviewed on a quarterly basis.

The below Parliamentary question was asked by Lord Birt on 2016-09-05.

To ask Her Majesty’s Government whether the law governing cyclists is effectively enforced.

Baroness Williams of Trafford

The enforcement of cycling offences is an operational matter for Chief Officers of police. This Government supports any action taken by the police to deter and reduce the number of cycling offences.

The below Parliamentary question was asked by Lord Birt on 2015-12-14.

To ask Her Majesty’s Government what proportion of road vehicles in the UK they expect to be wholly electrically powered by 2030.

Lord Ahmad of Wimbledon

The Government has a commitment that nearly every car and van will be zero emission by 2050. Already over 1% of new cars are ultra low emission and we expect uptake to continue to rise over time consistent with this goal. We do not provide interim forecasts or targets as this market is now moving so rapidly. We will spend over £600m 2015-16 and 2020-21 to put the UK on track to meet our ambitious long term target.

The below Parliamentary question was asked by Lord Birt on 2016-09-05.

To ask Her Majesty’s Government, following the success of Team GB at the Rio Olympics, and of Wales in the European Football Championship, whether they will review the effectiveness of the governance of English football.

Lord Ashton of Hyde

Team GB success at Rio and the achievement of the Welsh football team reaching the semi-final at the European Championships have ensured a memorable summer for sport. Government wants English football to enjoy similar success on the international stage and we are targeting public funding at grassroots sport through increased investment in facilities, coaching and projects that boost participation.

The Football Association, like all UK sports bodies and organisations that want to continue to receive public funding, will have to adhere to the new Code of Governance announced in the government’s sport strategy, Sporting Future, in December 2015. The code aims to ensure that the highest levels of transparency, ethical standards and leadership are present across sport in this country.

The below Parliamentary question was asked by Lord Birt on 2015-10-19.

To ask Her Majesty’s Government what is their latest estimate of (1) the number of instances of internet frauds committed annually in the United Kingdom, and (2) the level of financial loss that is caused annually in the United Kingdom by internet fraud.

Lord Bates

The Home Office does not hold data centrally on the number of internet frauds committed annually in the United Kingdom. The Office for National Statistics recently published a provisional estimate of 5.1 million fraud offences a year in England and Wales, based on trial data from a survey of 2,000 people. This did not include details of how many frauds were internet related.

The ONS also published the number of frauds referred to the National Fraud Intelligence Bureau (NFIB) in the year to June 2015 – 599,689. It is not possible to establish exactly how many of these were internet related.

The Home Office does not hold data centrally on the level of financial loss caused annually in the UK by internet fraud. The Home Office ‘Costs of cyber crime’ working group seeks to agree on the best available data for formulating any estimates and develop an agreed model for assessing the social and economic costs of cyber crime. Working group members are drawn from a field of multi-disciplinary academics, industry representatives and other experts involved in cyber crime and cyber security

The below Parliamentary question was asked by Lord Birt on 2014-06-27.

To ask Her Majesty’s Government whether the ratio of the aggregated value of sovereign, corporate and personal debt to gross domestic product is higher in the United Kingdom than in other leading economies.

Lord Deighton

The aggregate value of general government, non-financial corporations and household sector debt (as a proportion of GDP) for all G7 countries are shown below:

The below Parliamentary question was asked by Lord Birt on 2015-10-05.

To ask Her Majesty’s Government whether they will consider introducing identity cards for all United Kingdom residents.

Lord Bates

The Government has no plans to introduce an identity card system for British Citizens. The Biometric Residence Permit is issued to non-EEA nationals staying in the UK for more than six months. These provide evidence of the holders’ immigration status in the UK.

The below Parliamentary question was asked by Lord Birt on 2014-05-06.

To ask Her Majesty’s Government whether they intend to reduce the ratio of national debt to gross domestic product to below 40 per cent; and, if so, in which year.

Lord Deighton

As set out in Budget 2014, given the costs and risks of high levels of debt, once the supplementary debt target has been met, any future government will need to ensure that debt continues to fall as a percentage of GDP. Even in the absence of future shocks sustained action will be needed to bring down debt.