Tag: Phil Boswell

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 lent to small and medium-sized enterprises in (a) Scotland and (b) Coatbridge, Chryston and Bellshill constituency.

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 2016-01-12.

To ask the Secretary of State for Education, what assessment she has made of the implications for her policies of the conclusions of the Social Market Foundation report, published in January 2016, Educational Inequalities in England and Wales.

Mr Sam Gyimah

The government is determined to deliver educational excellence everywhere so that every child, regardless of background, reaches their potential. Thanks to the hard work of teachers across the country and our ambitious programme of reforms, 1.4 million more pupils are in good or outstanding schools compared to 2010.

We believe that there is more that can be done. That is why we are introducing new measures to transform failing and coasting schools, funding the best academy chains to share excellence in the North and creating a National Teaching Service. This will send some of our best teachers to the areas that need them most, starting in the North West.

We have also protected the pupil premium at current rates for the duration of this Parliament, so that schools receive additional money for pupils from disadvantaged backgrounds. A review of funding for disadvantaged pupils by the National Audit Office in July 2015 found that the attainment gap between disadvantaged pupils and their peers has narrowed in both primary and secondary schools since the introduction of the pupil premium in 2011.

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

To ask Mr Chancellor of the Exchequer, what mechanisms the Government has in place to ensure that banks with high energy exposure remain stable.

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 2016-04-25.

To ask the Secretary of State for Business, Innovation and Skills, with reference to Skills Funding Agency statistics on Apprenticeship Achievements by framework code, level and gender, 2002-03 to 2013-14, what assessment he has made of the implications for his policies of the reduction in the proportion of engineering apprenticeships which were undertaken by women between 2002 and 2014.

Nick Boles

The proportion of apprenticeship starts by women on the Engineering apprenticeship framework in England decreased from 4.6 per cent in 2002/03 to 3.8 per cent in 2013/14. The volume of apprenticeship starts on this framework by women actually increased by over ten percent over this period, but there was a larger proportionate increase in male apprentices in this period.

We are encouraging more young women to enter science and engineering careers, including apprenticeships. The annual Tomorrow’s Engineers Week (TEWeek) acts a focal point to encourage them to consider a career in engineering. The Your Life campaign inspires young people to study maths and physics as a gateway to STEM careers. The STEM Ambassadors programme is a network of over 28,000 volunteers working with schools across the UK, 40% of whom are women.

We are taking action to support the growth of apprenticeships in all areas to meet our commitment to 3 million apprenticeship starts in England by 2020. We will launch a new communications campaign in May aimed at promoting the benefits of apprenticeships. Our promotional campaigns include role models of successful female apprentices in sectors where they are under-represented.

The below Parliamentary question was asked by Phil Boswell on 2016-10-13.

To ask Mr Chancellor of the Exchequer, if he will make it his policy to increase financial protection for investors within the UK who invest in mini-bonds.

Simon Kirby

The government is committed to regulating only where there is a clear case for doing so, in order to avoid putting additional costs on lenders that would ultimately lead to higher costs for businesses and consumers.

The marketing and promotion of mini-bonds is subject to financial promotion restrictions set out in the Financial Services and Markets Act (FSMA). Firms that fail to meet any of these requirements may be subject to enforcement action by the Financial Conduct Authority (FCA).

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

To ask Mr Chancellor of the Exchequer, what statistical information his Department holds on small- and medium-sized enterprises which have defaulted on a loan received 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, what proportion of businesses which have been in receipt of funding from the apprenticeship programme for the creation of apprenticeships in the retail and commercial enterprise sector subject area (a) pay at least the living wage to employees under contract and (b) have paid at least the living wage to such employees since the beginning of the apprenticeship programme in 2010.

Nick Boles

We do not hold this information.

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

To ask Mr Chancellor of the Exchequer, what discussions his Department has had with the Prudential Regulation Authority on the level of risk at (a) financial institutions with high energy market exposure and (b) such institutions which have issued loans to the North Sea oil industry.

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 2016-04-25.

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the implications for his policies of the finding of the Young Women’s Trust on page 13 of its report, Making apprenticeships work for young women, that apprenticeships are reinforcing, rather than challenging, occupational segregation by gender.

Nick Boles

We want to make apprenticeships accessible to the widest possible range of people, as part of meeting our commitment to reach 3 million starts in England by 2020.

Women are well-represented within English apprenticeships – 53.0% of starts in 2014/15 were made by women. This is higher than in both 2013/14 (52.9%) and 2009/10 (49.6%). We will continue to support the extension of this positive representation across all sectors.

We have made it a priority to ensure that all young people have access to quality careers advice and support to help them make the right personal choices. This includes communicating career opportunities in sectors such as science and engineering. We will launch a new communications campaign in May aimed at promoting the benefits of apprenticeships. Our promotional campaigns include role models of successful female apprentices in sectors where they are under-represented.

The below Parliamentary question was asked by Phil Boswell on 2016-10-13.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the level of financial protection available to investors in mini-bonds not covered under the financial services compensation scheme.

Simon Kirby

The government is committed to regulating only where there is a clear case for doing so, in order to avoid putting additional costs on lenders that would ultimately lead to higher costs for businesses and consumers.

The marketing and promotion of mini-bonds is subject to financial promotion restrictions set out in the Financial Services and Markets Act (FSMA). Firms that fail to meet any of these requirements may be subject to enforcement action by the Financial Conduct Authority (FCA).