HM Treasury Resource Accounts: 2009-10 HC
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A Short Guide: the NAO's Work on HM Treasury
1 The NAO’s work on HM Treasury A ShoRT GUIDE The NAO’s work on HM Treasury June 2010 2 The NAO’s work on HM Treasury Our vision is to help the nation spend wisely. We apply the unique perspective of public audit to help Parliament and government drive lasting improvement in public services. The National Audit Office scrutinises public spending on behalf of Parliament. The Comptroller and Auditor General, Amyas Morse, is an Officer of the House of Commons. He is the head of the National Audit Office which employs some 900 staff. He and the National Audit Office are totally independent of Government. He certifies the accounts of all Government departments and a wide range of other public sector bodies; and he has statutory authority to report to Parliament on the economy, efficiency and effectiveness with which departments and other bodies have used their resources. Our work leads to savings and other efficiency gains worth many millions of pounds: £890 million in 2009-10. Contents Introduction 5 About the Department 6 The Department’s responsibilities 6 Where the Department spends its money 7 Financial management 10 Financial governance and reporting 10 Financial management across government 10 Efficiency 11 Use of information 12 Testing the reliability of performance data across government 12 Use of information by HM Treasury 13 Our audit of the budget assumptions 13 Service delivery 14 Financial stability measures 14 Procurement across government 15 Appendices 18 5 The NAO’s work on HM Treasury This short guide is one of 17 we have produced covering our work on each major government department. -
Statute Law Revision Bill 2007 ————————
———————— AN BILLE UM ATHCHO´ IRIU´ AN DLI´ REACHTU´ IL 2007 STATUTE LAW REVISION BILL 2007 ———————— Mar a tionscnaı´odh As initiated ———————— ARRANGEMENT OF SECTIONS Section 1. Definitions. 2. General statute law revision repeal and saver. 3. Specific repeals. 4. Assignment of short titles. 5. Amendment of Short Titles Act 1896. 6. Amendment of Short Titles Act 1962. 7. Miscellaneous amendments to post-1800 short titles. 8. Evidence of certain early statutes, etc. 9. Savings. 10. Short title and collective citation. SCHEDULE 1 Statutes retained PART 1 Pre-Union Irish Statutes 1169 to 1800 PART 2 Statutes of England 1066 to 1706 PART 3 Statutes of Great Britain 1707 to 1800 PART 4 Statutes of the United Kingdom of Great Britain and Ireland 1801 to 1922 [No. 5 of 2007] SCHEDULE 2 Statutes Specifically Repealed PART 1 Pre-Union Irish Statutes 1169 to 1800 PART 2 Statutes of England 1066 to 1706 PART 3 Statutes of Great Britain 1707 to 1800 PART 4 Statutes of the United Kingdom of Great Britain and Ireland 1801 to 1922 ———————— 2 Acts Referred to Bill of Rights 1688 1 Will. & Mary, Sess. 2. c. 2 Documentary Evidence Act 1868 31 & 32 Vict., c. 37 Documentary Evidence Act 1882 45 & 46 Vict., c. 9 Dower Act, 1297 25 Edw. 1, Magna Carta, c. 7 Drainage and Improvement of Lands Supplemental Act (Ireland) (No. 2) 1867 31 & 32 Vict., c. 3 Dublin Hospitals Regulation Act 1856 19 & 20 Vict., c. 110 Evidence Act 1845 8 & 9 Vict., c. 113 Forfeiture Act 1639 15 Chas., 1. c. 3 General Pier and Harbour Act 1861 Amendment Act 1862 25 & 26 Vict., c. -
The Bank of England and the Bank Act of 1844 Laurent Le Maux
Central banking and finance: the Bank of England and the Bank Act of 1844 Laurent Le Maux To cite this version: Laurent Le Maux. Central banking and finance: the Bank of England and the Bank Act of1844. Revue Economique, Presses de Sciences Po, 2018. hal-02854521 HAL Id: hal-02854521 https://hal.archives-ouvertes.fr/hal-02854521 Submitted on 8 Jun 2020 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Central banking and finance: the Bank of England and the Bank Act of 1844 Laurent LE MAUX* May 2020 The literature on the Bank of England Charter Act of 1844 commonly adopts the interpretation that it was a crucial step in the construction of central banking in Great Britain and the analytical framework that contrasts rules and discretion. Through examination of the monetary writings of the period and the Bank of England’s interest rate policy, and also through the systematic analysis of the financial aspect of the 1844 Act, the paper shows that such an interpretation remains fragile. Hence the present paper rests on the articulation between monetary history and the history of economic analysis and also on the institutional approach to money and banking so as to assess the consequences of the 1844 Act for the liquidity market and the relations between the central bank and finance. -
Asset Protection Scheme Shareholder Circular
THIS DOCUMENT AND ANY ACCOMPANYING DOCUMENTS ARE IMPORTANT AND REQUIRE YOUR IMMEDIATE ATTENTION. If you are in any doubt as to the action you should take, you are recommended to seek immediately your own personal financial advice from your stockbroker, bank manager, solicitor, accountant, fund manager or other appropriate independent financial adviser, who is authorised under the Financial Services and Markets Act 2000 (the ‘‘FSMA’’) if you are in the United Kingdom or, if not, from another appropriately authorised independent financial adviser. If you sell or have sold or otherwise transferred all of your Ordinary Shares please send this document, together with any accompanying form of proxy, as soon as possible, to the purchaser or transferee or to the bank, stockbroker or other agent through whom the sale or transfer was effected for delivery to the purchaser or transferee. If you have sold or transferred, or otherwise disposed of, only part of your holding of Ordinary Shares you should retain this circular and accompanying form of proxy and consult the stockbroker, bank or other agent through whom you made the sale, transfer or disposal. 29APR200818121267 The Royal Bank of Scotland Group plc (incorporated under the Companies Acts 1948 to 1967 and registered with Registered No. SC045551) Proposed accession to the Asset Protection Scheme and B Share and Dividend Access Share issues Circular and Notice of General Meeting Your attention is drawn to the letter from your Chairman which is set out in Part I of this document and which recommends you vote in favour of the Resolutions to be proposed at the General Meeting referred to below. -
Ministerial Departments CABINET OFFICE July 2010
LIST OF MINISTERIAL RESPONSIBILITIES Including Executive Agencies and Non- Ministerial Departments CABINET OFFICE July 2010 LIST OF MINISTERIAL RESPONSIBILITIES INCLUDING EXECUTIVE AGENCIES AND NON MINISTERIAL DEPARTMENTS CONTENTS Page Part I List of Cabinet Ministers 2 Part II Alphabetical List of Ministers 4 Part III Ministerial Departments and Responsibilities 8 Part IV Executive Agencies 62 Part V Government Offices for the Regions 82 Part VI Non-Ministerial Departments 85 Part VII Government Whips in the House of Commons and House of Lords 93 Part VIII Government Spokespersons in the House of Lords 94 Part IX Index 96 Information contained in this document can also be found at: http://www.cabinetoffice.gov.uk/government-business.aspx Further copies of this document can be obtained from: Cabinet Office Room 118 70 Whitehall London SW1A 2AS Or send your request via email to: Propriety&[email protected] 1 I - LIST OF CABINET MINISTERS The Rt Hon David Cameron MP Prime Minister, First Lord of the Treasury and Minister for the Civil Service The Rt Hon Nick Clegg MP Deputy Prime Minister, Lord President of the Council (with special responsibility for political and constitutional reform) The Rt Hon William Hague MP First Secretary of State, Secretary of State for Foreign and Commonwealth Affairs The Rt Hon George Osborne MP Chancellor of the Exchequer The Rt Hon Kenneth Clarke QC MP Lord Chancellor, Secretary of State for Justice The Rt Hon Theresa May MP Secretary of State for the Home Department and Minister for Women -
The History and Remedy of Financial Crises and Bank Failures
The author Michael Schemmann Michael Sche is a professional banker, certified public accountant, and university professor of accounting and finance. The book reviews a long litany of financial crises and bank failures since the 3rd century right up to the ongoing Global Financial Crisis. The author analyzes the financial statement mmann of a large international commercial bank in Frankfurt, Germany, and concludes that IFRS accounting principles and standards are not followed but violated, rendering the statements rather false and misleading. The book contains a remedy to end the Global Financial Crisis and prevent future crises, calling on the European Central Bank to step in and take over the role of money Money creator which is currently done by the private commercial banks, and allow governments to buy-back their general Breakdown and government debt theld by the banks, thereby reducing the MON outstanding sovereign debt of the euro area by 32% while improving the banks' liquidity sevenfold in a way that is Breakthrough completely inflation-neutral (sterile). The misconceived EY austerity programs 'to save the euro' can then be rolled back and abandoned. Br iicpa eak do The History and Remedy IICPA Publications wn and Br 1st Edition - 31 October 2013 of Financial Crises and ISBN 978-1492920595 eak Bank Failures thr ough IICPA PUBLICATIONS Money. Breakdown and Breakthrough. The History and Modern states gave control of monetary policy and markets to the Remedy of Financial Crises and Bank Failures. (1st Edition.) barons of global finance. The experiment has resulted in the same By Michael Schemmann disastrous outcomes as before. -
Royal Bank of Scotland: Details of Asset Protection Scheme and Launch of the Asset Protection Agency
Royal Bank of Scotland: details of Asset Protection Scheme and launch of the Asset Protection Agency December 2009 Royal Bank of Scotland: details of Asset Protection Scheme and launch of Asset Protection Agency December 2009 Official versions of this document are printed on 100% recycled paper. When you have finished with it please recycle it again. If using an electronic version of the document, please consider the environment and only print the pages which you need and recycle them when you have finished. © Crown copyright 2009 The text in this document (excluding the Royal Coat of Arms and departmental logos) may be reproduced free of charge in any format or medium providing that it is reproduced accurately and not used in a misleading context. The material must be acknowledged as Crown copyright and the title of the document specified. Where we have identified any third party copyright material you will need to obtain permission from the copyright holders concerned. For any other use of this material please write to Office of Public Sector Information, Information Policy Team, Kew, Richmond, Surrey TW9 4DU or e-mail: [email protected] ISBN 978-1-84532-664-7 PU896 Contents Page Executive summary 3 Chapter 1 Introduction 7 Chapter 2 Financial Stability Agreements finalised 11 Chapter 3 Agreement with Royal Bank of Scotland 15 Chapter 4 Asset Protect Scheme design 21 Chapter 5 Asset Protection Agency 25 Annex A APS Assets 27 Annex B APS design 59 Annex C Asset Protection Agency framework document 85 Royal Bank of Scotland: details of Asset Protection Scheme and launch of the Asset Protection Agency 1 Executive summary The Government is today publishing details of the Asset Protection Scheme (APS) agreements that it has entered into with The Royal Bank of Scotland (RBS) together with information on the assets that are being covered by the APS. -
Review of HM Treasury's Response to the Financial Crisis 2007-09
Review of HM Treasury’s management response to the financial crisis March 2012 Review of HM Treasury’s management response to the financial crisis March 2012 Official versions of this document are printed on 100% recycled paper. When you have finished with it please recycle it again. If using an electronic version of the document, please consider the environment and only print the pages which you need and recycle them when you have finished. © Crown copyright 2012 You may re-use this information (not including logos) free of charge in any format or medium, under the terms of the Open Government Licence. To view this licence, visit http://www.nationalarchives.gov.uk/doc/open- government-licence/ or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or e-mail: [email protected]. Any queries regarding this publication should be sent to us at: [email protected]. ISBN 978-1-84532-953-2 PU1286 Contents Page Foreword 3 Executive summary 5 Chapter 1 Introduction 9 Chapter 2 Financial services in HM Treasury before the crisis 15 Chapter 3 Brief history of the financial crisis (2007-09) 19 Chapter 4 Management response to the financial crisis 23 Chapter 5 Current capability on financial services 33 Chapter 6 HM Treasury’s future capability 39 Chapter 7 Organisational challenges 43 Chapter 8 Recommendations 51 Annex A Timeline of key events 55 Annex B Policy interventions 57 Annex C Organisations consulted by the Review 59 Annex D Relevant reports and publications 61 Annex E List of acronyms 63 1 Foreword The financial crisis of 2007 to 2009 was arguably the most difficult set of economic circumstances that the Treasury has faced in its history. -
Bagehot for Central Bankers Laurent Le Maux
Bagehot for Central Bankers Laurent Le Maux To cite this version: Laurent Le Maux. Bagehot for Central Bankers. 2021. hal-03201509 HAL Id: hal-03201509 https://hal.archives-ouvertes.fr/hal-03201509 Preprint submitted on 19 Apr 2021 HAL is a multi-disciplinary open access L’archive ouverte pluridisciplinaire HAL, est archive for the deposit and dissemination of sci- destinée au dépôt et à la diffusion de documents entific research documents, whether they are pub- scientifiques de niveau recherche, publiés ou non, lished or not. The documents may come from émanant des établissements d’enseignement et de teaching and research institutions in France or recherche français ou étrangers, des laboratoires abroad, or from public or private research centers. publics ou privés. Bagehot for Central Bankers Laurent Le Maux* Working Paper No. 147 February 10th, 2021 ABSTRACT Walter Bagehot (1873) published his famous book, Lombard Street, almost 150 years ago. The adage “lending freely against good collateral at a penalty rate” is associated with his name and his book has always been set on a pedestal and is still considered as the leading reference on the role of lender of last resort. Nonetheless, without a clear understanding of the theoretical grounds and the institutional features of the British banking system, any interpretation of Bagehot’s writings remains vague if not misleading—which is worrisome if they are supposed to provide a guideline for policy makers. The purpose of the present paper is to determine whether Bagehot’s recommendation remains relevant for modern central bankers or whether it was indigenous to the monetary and banking architecture of Victorian times. -
Bibliography
BIBLIOGRAPHY Ackroyd, P. (1991). Charles Dickens. London: Methuen. Adams, E. (2011). Liberal Epic: The Victorian Practice of History from Gibbon to Churchill. Charlottesville: University of Virginia Press. Aldous, R. (2007). The Lion and the Unicorn: Gladstone v Disraeli. London: Pimlico. Allan, T. (1993). Law, Liberty and Justice. Oxford: Oxford University Press. Allan, T. (2001). Constitutional Justice: A Liberal Theory of the Rule of Law. Oxford: Oxford University Press. Allison, J. (2007). The English Historical Constitution: Continuity, Change and European Effects. Cambridge: Cambridge University Press. Alter, R. (1968). The Demons of History in Dickens, Tale. Novel, 2, 135–142. Anderson, A. (2007). Trollope’s Modernity. ELH, 74, 509–534. Anderson, O. (1967). The Political Uses of History in Mid Nineteenth Century England. Past and Present, 36, 87–105. Arnold, M. (1968). Essays in Criticism. Chicago: Chicago University Press. Arnold, M. (1986). Matthew Arnold: A Critical Edition of the Major Works. Oxford: Oxford University Press. Arnold, M. (1993). Culture and Anarchy, and Other Writings. Cambridge: Cambridge University Press. Arnstein, W. (1962). Gladstone and the Bradlaugh Case. Victorian Studies, 5, 303–330. Arnstein, W. (2003). Queen Victoria. Basingstoke: Palgrave. Bagehot, W. (1965). The Collected Works of Walter Bagehot (St. John Stevas, Ed.). London: The Economist. © The Editor(s) (if applicable) and The Author(s), 195 under exclusive license to Springer International Publishing AG, part of Springer Nature 2018 I. Ward, Writing the Victorian Constitution, Palgrave Modern Legal History, https://doi.org/10.1007/978-3-319-96676-2 196 BIBLIOGRAPHY Bagehot, W. (2001). The English Constitution. Cambridge: Cambridge University Press. Balfour, A. (1928). -
———————— Number 28 of 2007 ———————— STATUTE LAW REVISION ACT 2007 ———————— ARRAN
Click here for Explanatory Memorandum ———————— Number 28 of 2007 ———————— STATUTE LAW REVISION ACT 2007 ———————— ARRANGEMENT OF SECTIONS Section 1. Definitions. 2. General statute law revision repeal and saver. 3. Specific repeals. 4. Assignment of short titles. 5. Amendment of Short Titles Act 1896. 6. Amendment of Short Titles Act 1962. 7. Miscellaneous amendments to post-1800 short titles. 8. Evidence of certain early statutes, etc. 9. Savings. 10. Short title and collective citation. SCHEDULE 1 Statutes retained PART 1 Pre-Union Irish Statutes 1169 to 1800 PART 2 Statutes of England 1066 to 1706 PART 3 Statutes of Great Britain 1707 to 1800 PART 4 Statutes of the United Kingdom of Great Britain and Ireland 1801 to 1922 1 [No. 28.]Statute Law Revision Act 2007. [2007.] SCHEDULE 2 Statutes Specifically Repealed PART 1 Pre-Union Irish Statutes 1169 to 1800 PART 2 Statutes of England 1066 to 1706 PART 3 Statutes of Great Britain 1707 to 1800 PART 4 Statutes of the United Kingdom of Great Britain and Ireland 1801 to 1922 ———————— 2 [2007.]Statute Law Revision Act 2007. [No. 28.] Acts Referred to Bill of Rights 1688 1 Will. & Mary, sess. 2, c. 2 Documentary Evidence Act 1868 31 & 32 Vict., c. 37 Documentary Evidence Act 1882 45 & 46 Vict., c. 9 Dower Act 1297 25 Edw. 1, Magna Carta, c. 7 Drainage and Improvement of Lands Supplemental Act (Ireland) (No. 2) 1867 31 & 32 Vict., c. 3 Dublin Hospitals Regulation Act 1856 19 & 20 Vict., c. 110 Evidence Act 1845 8 & 9 Vict., c. 113 Forfeiture Act 1639 15 Chas. -
Clarendon Law Series
Clarendon law SerieS Edited by PaUl CRAIG Clarendon law SerieS The Anthropology of Law Philosophy of Private Law FERNANDA PIRIE WILLIAM LUCY Law and Gender Law in Modern Society JOANNE CONAGHAN DENIS GALLIGAN The Conflict of Laws (3rd edition) An Introduction to Tort Law ADRIAN BRIGGS (2nd edition) TONY WEIR The Concept of Law (3rd edition) H.L.A. HART Equity (2nd edition) With a Postscript edited by Penelope SARAH WORTHINGTON A. Bulloch and Joseph Raz Atiyah’s Introduction to the Law of With an Introduction and Notes by Contract (6th edition) Leslie Green STEPHEN A. SMITH, P.S. ATIYAH Land Law (2nd edition) Unjust Enrichment (2nd edition) ELIZABETH COOKE PETER BIRKS Administrative Law (5th edition) An Introduction to Family Law PETER CANE (2nd edition) Discrimination Law (2nd edition) GILLIAN DOUGLAS SANDRA FREDMAN Criminal Justice An Introduction to the Law of Trusts LUCIA ZEDNER (3rd edition) Contract Theory SIMON GARDNER STEPHEN A. SMITH Natural Law and Natural Rights Public Law (2nd edition) ADAM TOMKINS JOHN FINNIS Personal Property Law (3rd edition) Introduction to Company Law MICHAEL BRIDGE (2nd edition) PAUL DAVIES Law of Property (3rd edition) F.H. LAWSON AND Employment Law (2nd edition) BERNARD RUDDEN HUGH COLLINS An Introduction to Constitutional Law International Law ERIC BARENDT VAUGHAN LOWE Resulting Trusts Civil Liberties ROBERT CHAMBERS CONOR GEARTY Legal Reasoning and Legal Theory Intellectual Property NEIL MACCORMICK MICHAEL SPENCE Labour Legislation and Public Policy Policies and Perceptions of Insurance Law A Contemporary History in the Twenty-First Century (2nd edition) PAUL DAVIES AND MALCOLM CLARKE MARK FREEDLAND PerSonal ProPerty law FoUrth edition MiCHAEL BRIDGe FBa Bencher of the Middle Temple, Cassel Professor of Commercial Law, London School of Economics, and Professor of Law National University of Singapore Great Clarendon Street, Oxford, OX2 6DP, United Kingdom Oxford University Press is a department of the University of Oxford.