Tag: Phil Boswell

The below Parliamentary question was asked by Phil Boswell on 2015-12-10.

To ask Mr Chancellor of the Exchequer, how his Department and the Bank of England assess the performance of small and medium-sized enterprises which have received a loan through the Funding for Lending scheme.

Harriett Baldwin

The Bank of England does not lend directly to small and medium sized enterprises as part of the Funding for Lending Scheme (FLS). Under the FLS, the Bank of England provides funding to UK banks and building societies participating in the scheme. The amount of funding participant banks and building societies are eligible to borrow from the Bank of England is determined by their net lending to certain sectors of the economy.

The below Parliamentary question was asked by Phil Boswell on 2016-01-13.

To ask the Secretary of State for Business, Innovation and Skills, pursuant to the Answer of 12 January 2016 to Question 20474, how many apprenticeships created in the retail and commercial enterprise sector subject area have led to full-time, permanent employment with that employer following the completion of the apprenticeship.

Nick Boles

The 2014 Apprenticeship Evaluation Learner Survey found that for apprentices in the survey who completed Retail and Commercial Enterprise sector frameworks, 90 per cent were employed following their apprenticeship. Of these, 73 per cent were employed by the same organisation with whom they completed the apprenticeship. The sample size of this cohort is not large enough to produce robust estimates of the proportion that are employed full-time.

The below Parliamentary question was asked by Phil Boswell on 2016-02-19.

To ask Mr Chancellor of the Exchequer, what assessment he has made of (a) the effects on financial institutions with high energy exposure of the falling price of oil and (b) the effect of that falling price on businesses in the North Sea.

Harriett Baldwin

The Chancellor set out the government’s view on the challenges facing the UK economy in a speech on 7 January. The transcript of the speech is available from www.gov.uk/government/speeches/chancellor-on-challenges-facing-uk-economy-in-2016. The Chancellor and other Ministers meet regularly with regulators and the Bank of England. In addition, the Bank of England’s Financial Stability Report sets out an analysis, which can be found here:

http://www.bankofengland.co.uk/publications/Pages/fsr/2015/dec.aspx

The Financial Policy Committee’s (FPC) stress test results in December 2015 suggest that the major UK banks would be resilient to a sustained commodity price downturn.

The UK now has a robust system of financial regulation, where the regulators have clear objectives and powers to deal with risks to the financial sector. The Government established the FPC to identify, monitor and address systemic risks to financial stability.

The below Parliamentary question was asked by Phil Boswell on 2016-06-20.

To ask the Secretary of State for Business, Innovation and Skills, how much has been spent on television advertising for the Government’s apprenticeship programme in each year since 2006.

Nick Boles

The Government has spent the following amounts on TV media to advertise apprenticeships in the financial years since 2006.

These costs are exclusive of VAT.

The below Parliamentary question was asked by Phil Boswell on 2016-10-19.

To ask Mr Chancellor of the Exchequer, whether his Department plans to investigate reports of misconduct by Royal Bank of Scotland relating to small business finance.

Simon Kirby

HM Treasury has no plans to investigate these reports. This is a matter for the Financial Conduct Authority, which is undertaking a review.

The below Parliamentary question was asked by Phil Boswell on 2015-12-10.

To ask Mr Chancellor of the Exchequer, how much from the Funding for Lending scheme has been allocated (a) for lending on mortgages prior to the change in rules for such lending in 2014 and (b) for lending to small and medium-sized enterprises since the change in those rules.

Harriett Baldwin

UK banks and building societies that participate in in the Funding for Lending Scheme (FLS) are able to borrow funding from the Bank of England, with the amount they are able to borrow (their ‘borrowing allowance’) linked to their net lending performance. FLS usage and lending data is published on the Bank of England website at the following link: http://www.bankofengland.co.uk/markets/Pages/FLS/extensiondata.aspx

The below Parliamentary question was asked by Phil Boswell on 2016-01-13.

To ask the Secretary of State for Business, Innovation and Skills, pursuant to the Answer of 12 January 2016 to Question 20474, which businesses have been in receipt of funding from the apprenticeship programme for the creation of apprenticeships in the retail and commercial enterprise sector subject area.

Nick Boles

Funding for training against apprenticeship frameworks is provided to education and training providers and not allocated to businesses.

The below Parliamentary question was asked by Phil Boswell on 2016-02-24.

To ask the Secretary of State for Business, Innovation and Skills, what representations his Department received on the requirements to be set for businesses in the retail and commercial enterprise sector to qualify for funding under the apprenticeship programme before those requirements were determined.

Nick Boles

In England, to qualify for apprenticeships funding, an apprenticeship offered in any sector must comply with the Skills Funding Agency’s funding rules: https://www.gov.uk/government/collections/sfa-funding-rules-2016-to-2017.

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The below Parliamentary question was asked by Phil Boswell on 2016-06-20.

To ask Mr Chancellor of the Exchequer, what estimate he has made of the amount Scottish businesses will pay on an annual basis under the proposed Apprenticeship Levy.

Greg Hands

The Apprenticeship Levy will apply across the UK and will be collected from employers on a UK wide basis. An allowance of £15,000 means only those with a paybill exceeding £3million will have to pay it; less than 2 per cent of all employers. Regional level estimates of those likely to pay the Apprenticeship Levy are not available. However, the UK government remains committed to doing all we can to make the system work for employers wherever they are in the UK.

The below Parliamentary question was asked by Phil Boswell on 2016-10-18.

To ask Mr Chancellor of the Exchequer, if he will conduct an investigation into the sales practices of Wells Fargo in the UK.

Simon Kirby

Investigations into the conduct of financial services in the United Kingdom are a matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.

The questions have been passed on to the FCA. The FCA will reply directly to the Honorable Member by letter. A copy of the letter will be placed in the Library of the House.