Unilever

Treasury written question – answered on 10th September 2018.

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Photo of Bill Wiggin Bill Wiggin Chair, Committee of Selection, Chair, Selection Committee

To ask the Chancellor of the Exchequer, what discussions has he had with the London Stock Exchange on the qualification criteria for the FTSE 100 (a) before and (b) after Unilever's announcement that it would seek to unify its headquarters outside of the UK.

Photo of Bill Wiggin Bill Wiggin Chair, Committee of Selection, Chair, Selection Committee

To ask the Chancellor of the Exchequer, whether he has made an assessment of the level of discretion that the London Stock Exchange subsidiary FTSE-Russell will have over a decision on whether to continue to include Unilever in the FTSE 100 index; and if he will make a statement.

Photo of Bill Wiggin Bill Wiggin Chair, Committee of Selection, Chair, Selection Committee

To ask the Chancellor of the Exchequer, whether he has discussed with the London Stock Exchange the amount of discretion that its subsidiary FTSE-Russell has over decisions on constituents of the FTSE 100; and if he will make a statement.

Photo of Bill Wiggin Bill Wiggin Chair, Committee of Selection, Chair, Selection Committee

To ask the Chancellor of the Exchequer, whether he plans to write to the London Stock Exchange on the level of flexibility of its FTSE-Russell subsidiary in relation to granting FTSE 100 index membership to Unilever; and if he will make a statement.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Criteria for inclusion within an index are a matter for the benchmark administrator, rather than for the government or regulator. It is therefore FTSE Russell’s decision as a private company and not for HM Treasury to comment on an ongoing decision. FTSE’s methodology is made publicly available at (http://www.ftse.com/products/downloads/FTSE_UK_Index_Series.pdf) and discretion is available within this framework.

Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors, including the London Stock Exchange, as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel

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