Tag: Lord Sharkey

The below Parliamentary question was asked by Lord Sharkey on 2016-07-13.

To ask Her Majesty’s Government, further to the Written Answer by Lord O’Neill of Gatley on 12 July (HL883), what steps they are taking with regard to the withdrawal of banking services to encourage banks to take a risk-based approach and to ensure that the measures they take are effective and proportionate; and what assessment they have made of the extent to which that encouragement has been effective.

Lord O’Neill of Gatley

The government engages regularly with the banking industry and those affected by de-risking in order to facilitate communication. The aim of this is to improve banks’ understanding of how affected sectors work and to improve affected sectors’ understanding of how they can best meet the banks’ requirements for providing services. This process has led to the British Bankers’ Association developing tailored ‘access to banking’ guidance for affected sectors.

The government continues to work with the Financial Conduct Authority (FCA), who recently published research into the withdrawal of banking services. The FCA are also working with the banking industry to lessen the damaging effects of de-risking without constraining banks’ commercial freedom.

Internationally, the UK has been instrumental in making de-risking a priority for the G20 and the Financial Stability Board. The government is working with the Bank of England and the FCA on internationally agreed guidance to financial institutions that will clarify regulatory expectations, making their responsibilities clearer to allow a more risk-based approach and better appraisal of risks.

The below Parliamentary question was asked by Lord Sharkey on 2016-01-11.

To ask Her Majesty’s Government when they first learned that the Financial Conduct Authority was considering not publishing its report on banking culture examining “whether cultural change programmes in retail and wholesale banks are driving the right behaviour, in particular focusing on remuneration, appraisal and promotion decisions of middle management, as well as how concerns are reported and acted upon”, as outlined in its Business Plan 2015–16.

Lord O’Neill of Gatley

No Treasury Minister or official had any discussions with the FCA before the FCA took its decision to discontinue the review of banking culture included in its 2015-16 Business Plan.

The FCA has published (in response to the Noble Lord’s Freedom of Information request) the dates when it communicated its decision to discontinue this review to other organisations. This response is available on the FCA website.

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

To ask Her Majesty’s Government whether they intend to publish the NHS England Research and Development plan for 2016–17; if so, when, and if not, why not.

Lord Prior of Brampton

A draft version of NHS England’s Research and Development Plan for 2016/17 is currently out with stakeholders for information and comment. A copy of the final version will therefore be published on NHS England’s website in due course once it has been agreed and approved.

The below Parliamentary question was asked by Lord Sharkey on 2016-01-11.

To ask Her Majesty’s Government on what dates ministers or officials had discussions with officials at (1) the Bank of England, (2) the Prudential Regulation Authority, and (3) the Financial Conduct Authority (FCA), about not publishing the FCA’s report on banking culture outlined in its Business Plan 2015–16; and which ministers and officials were involved in each of those discussions.

Lord O’Neill of Gatley

No Treasury Minister or official had any discussions with the FCA before the FCA took its decision to discontinue the review of banking culture included in its 2015-16 Business Plan.

The FCA has published (in response to the Noble Lord’s Freedom of Information request) the dates when it communicated its decision to discontinue this review to other organisations. This response is available on the FCA website.

The below Parliamentary question was asked by Lord Sharkey on 2016-09-14.

To ask Her Majesty’s Government, in the light of the absence of proposals in the Neighbourhood Planning Bill, whether they still plan to put the National Infrastructure Commission on a statutory basis; if so, when, and if not, why not.

Lord O’Neill of Gatley

To allow the Neighbourhood Planning Bill to focus on essential planning measures, legislation for the National Infrastructure Commission has not be included at this time.

The Commission is an important part of the government’s overall approach on infrastructure and has already made a significant impact through its first three reports.

We remain fully committed to the Commission which has a crucial role to play in setting out the country’s infrastructure priorities. We are considering how it can best support the government’s new industrial strategy.

The below Parliamentary question was asked by Lord Sharkey on 2016-01-11.

To ask Her Majesty’s Government what written assessments of the advantages and disadvantages of not publishing the Financial Conduct Authority’s report on banking culture outlined in its Business Plan 2015–16 were considered, and when; and who wrote those assessments.

Lord O’Neill of Gatley

No Treasury Minister or official had any discussions with the FCA before the FCA took its decision to discontinue the review of banking culture included in its 2015-16 Business Plan.

The FCA has published (in response to the Noble Lord’s Freedom of Information request) the dates when it communicated its decision to discontinue this review to other organisations. This response is available on the FCA website.

The below Parliamentary question was asked by Lord Sharkey on 2016-01-11.

To ask Her Majesty’s Government what assessment they have made of the proposal not to publish the Financial Conduct Authority’s report on banking culture outlined in its Business Plan 2015–16; to whom they have communicated that assessment; and what response they have received.

Lord O’Neill of Gatley

No Treasury Minister or official had any discussions with the FCA before the FCA took its decision to discontinue the review of banking culture included in its 2015-16 Business Plan.

The FCA has published (in response to the Noble Lord’s Freedom of Information request) the dates when it communicated its decision to discontinue this review to other organisations. This response is available on the FCA website.

The below Parliamentary question was asked by Lord Sharkey on 2016-01-11.

To ask Her Majesty’s Government when they expect the Migration Advisory Committee to publish the findings of the review of the Tier 2 route of the Points Based System, including their recommendations on the application of a skills levy to businesses recruiting from outside the EEA.

Lord Bates

In June last year, the Government commissioned the Migration Advisory Committee (MAC) to advise on how to restrict Tier 2 to roles where there are genuine skills shortages or which require highly-specialised experts, but with sufficient flexibility to include high value roles and key public service workers.

As part of that commission, the MAC was asked for advice on applying an immigration skills charge to businesses recruiting from outside the EEA. The MAC published its report on 19 January 2016.

The below Parliamentary question was asked by Lord Sharkey on 2016-01-21.

To ask Her Majesty’s Government what help and advice is available to Muslim students who wish to progress to higher education but for whom an interest-bearing student loan would be a violation of their religious principles, and where that help and advice can be accessed.

Baroness Evans of Bowes Park

The Government is aware that some students, whose religious beliefs may prevent the taking out of a loan that bears interest, may feel unable to take advantage of student loans. In April 2014 BIS conducted a consultation on an alternative finance product for undergraduate students. Upon review of consultation responses, the Government supported the introduction of a Takaful Alternative Finance product available to everyone. This work is ongoing and subject to Parliamentary approval, the Government hopes to introduce the system through new legislation.

All students can access advice and guidance on the financial support available to them from Student Finance England on the link below:

https://www.gov.uk/contact-student-finance-england

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The below Parliamentary question was asked by Lord Sharkey on 2016-01-21.

To ask Her Majesty’s Government what estimate they have made of the number of Muslim students who have been unable to progress to higher education because their religious principles do not permit them to take out an interest-bearing student loan.

Baroness Evans of Bowes Park

The Government consulted in April 2014 on an Alternative Finance product that could be offered to students alongside traditional loans. 20,000 responses were received with 94 per cent believing there is a demand for Alternative Finance.

The Government is working on the development of a Takaful Alternative Finance product and as part of this will be working with the Muslim community and others to understand the likely take-up of the product.