Select Committee on Economic Affairs Second Report


The members of the Select Committee which conducted this inquiry were:

†  Lord Elder

Lord Goodhart

Lord Kingsdown

Lord Lamont of Lerwick

Lord Lawson of Blaby

Lord Layard

Lord Macdonald of Tradeston

†  Lord Marsh

*   Lord Paul

*  Lord Powell of Bayswater

Lord Sheldon

Lord Sheppard of Didgemere

Lord Skidelsky

Lord Vallance of Tummel

Lord Wakeham

†   until 11 April 2005

*  since 6 June 2005

The Committee records its appreciation to Professor David Pearce OBE, Emeritus Professor, University College London, for his work as Specialist Adviser for the inquiry.

Declaration of Interests

Lord Elder

Consultant, First Group plc
Consultant, Forth Ports Plc
Consultant, The Smith Institute
Adviser to Daval International Ltd

Chancellor, Al-Maktoum Institute for Arabic and Islamic Studies
Member of the Action Committee for the Scottish National Photography Centre

Lord Goodhart

Vice President, International Commission of Jurists
Trustee, Fair Trials Abroad
Vice Chair of Council, JUSTICE

Lord Kingsdown

38 acres of woodland in North Kent

President, Canterbury Cathedral Trust
Chairman, Canterbury Cathedral Council
President, Kent County Agricultural Society
Trustee, Leeds Castle, Maidstone, Kent
Honorary Trustee, Royal Agricultural Society of England
Trustee, East Malling Trust for Horticultural Research
Emeritus Trustee, Royal Academy of Arts

Lord Lamont of Lerwick

Consultant, Rotch Property Group
Consultant, Fintrade
Stanley Leisure plc

Chairman, East European Food Fund (Investment Fund)
Director, Anglo-Arabian Projects Limited
Director, Balli Group plc (steel and commodity trading house)
Director, Compagnie Internationale de Participations Bancaires et Financieres (Investment Company)
Director, European Growth and Income Trust (Investment Trust)
Director, Jupiter Finance and Income Trust (Investment Trust)
Director, Scottish Annuity and Life Holdings (Reinsurance Company)
Director, RAB Capital plc
Member of the Advisory Board, MerchantBridge & Co

Secretary and office at Balli plc (steel and commodity trading house) (Secretary primarily business and personal but some parliamentary work)

Chairman, Le Cercle
Chairman, British Iranian Chamber of Commerce
President, British Romanian Chamber of Commerce
Co-Chairman, Bruges Group

Lord Lawson of Blaby

Chairman, Central Europe Trust Co Ltd (Advisory and private equity)

Shareholding in Central Europe Trust Company Limited

Member of Governing Body of Westminster School

Lord Layard

Non-executive Director, Firebird New Russia Fund Ltd

Director, Well-being Programme, Centre for Economic Performance, London School of Economics

House in Chalk Farm, London NW3 and house in Cornwall

Lord Macdonald of Tradeston

Senior Advisor, Macquarie Bank Ltd (which manages and invests in infrastructure assets across communications, transport and utility sectors, including renewable energy)

Member, Fabian Society

Lord Marsh

Senior European Consultant, Taisei Corporation, Tokyo, Japan

Chairman, The Income & Growth Trust (a quoted split capital investment trust)

Lord Paul

Chairman and Director, Caparo Group Ltd
Board Member, London Development Agency

Visit to Scotland (16-17 June 2004) to view various power facilities as a delegate with the Parliamentary Group for Energy Studies

Caparo Group Ltd (Lord Paul, Hon.Ambar Paul, Hon. Akash Paul and Hon. Angad Paul are jointly interested in the whole of the issued share capital of the Company through shareholdings registered in the name of Caparo International Corporation, a Company registered in the British Virgin Islands)
Caparo Group, through its subsidiary Caparo plc, has a 35.5% interest in Core Growth Capital LLP, which manages two venture capital trusts, Core VCTI and Core VCTII plc

Chancellor of the University of Wolverhampton
Member of the DTI Industrial Development Advisory Board
Member of the Corporation of the Hall of Arts and Sciences
Advisory Board Member, Foreign Policy Centre
Member of the Board of London 2012
Non-executive Director, London 2012 Ethics Advisory Group
Director, Parliamentary Broadcasting Unit Limit

Vice President, Engineering Employers' Federation
Co-Chairman, Associated Parliamentary Manufacturing Industry Group Chairman of the Board of PiggyBankKids (a children's charity) and its trading subsidiary PiggyBankKids Projects Limited

Trustee, Ambika Paul Foundation

President, Family Service Units
Patron, Plan International
Patron, UK Youth

Lord Powell of Bayswater

Adviser to Eastern Star Publications
Adviser to the Chairman of BAe Systems

Chairman, LVMH (Moet-Hennessy Louis Vuitton) UK
Chairman, Sagitta Asset Management Limited
Director, British Mediterranean Airways
Director, Caterpillar Inc
Director, Financière Agache
Director, LVMH (Moet-Hennessy Louis Vuitton)
Director, Mandarin Oriental Hotel Group
Director, Matheson & Co
Director, Textron Corporation
Director, Yell Group Limited
Director, Schindler Holdings, Switzerland
Director, Northern Trust Global Services

Member, Barrick Gold International Advisory Board
Member, Diligence Advisory Board
Chairman, GEMS Private Equity Fund Advisory Board
Member, Rolls-Royce European Strategy Board
Member, Textron International Advisory Council
Member, Wingate Capital International Advisory Board
Member, International Advisory Board of Magna Corporation
Member, the Advisory Board of the European Advisory Group GMBH
Member, Advisory Board of Thales UK (15 September 2004)
Member, Advisory Board of Alfa Capital (15 September 2004)

Chairman, Trustees of the Said Business School Foundation, Oxford University

Trustee, Aspen Institute (USA)
Trustee, British Museum
Chairman, Atlantic Partnership

Director, Singapore Millennium Foundation
Director, UK-China Forum
President, China-Britain Business Council

Trustee, Karim Rida Said Foundation

Lord Sheldon

Tonrose Ltd (textile distribution)

Trustee, Sheldon Group Pension Fund

Lord Sheppard of Didgemere

Didgemere Consultants Ltd

Non-executive Chairman, McBride plc (household and personal care products)
Non-executive Chairman, Unipart Group (automotive, rail, telecommunication, logistics etc)
Non-executive Chairman, One-Click HR plc (HR software etc)
Non-executive Director, Nyne Ltd (investor group) (currently not directly remunerated)
Non-executive Chairman, Global Tote Ltd (Satellite transmission services to Russia and Eastern Europe)
Non-executive Chairman, Namibian Resources Ltd (Diamond Mining)

Didgemere Consultants Ltd (business Advisory service)
Didgemere Farms Ltd (farming)

McBride plc (household and personal care products) (shareholding with a nominal value of over £50,000)
One-ClickHR plc (human resources management systems) (shareholding of more than 5% of issued share capital of the company)
DeltaDot Limited (an unquoted biotechnology) (shareholding of more than 5% of issued share capital of the company)
Namibian Resources Ltd

Farmland in Essex

Chancellor, Middlesex University
Hon. Fellow, Governor, London School of Economics

President, London First
Director, East London Business Alliance
Director, Central London Partnership
Director, London Business Board (London First/London Chamber/London CBI)
Vice President, Beer and Pub Association (formerly Brewers Society)
Member of the Various Professional Bodies (accountants etc)
Hon. Doctorate/Hon Fellow of various universities
Member, Protection of Roydon and Area (PORA) Committee

Vice President (formerly Appeal Chairman for 'Sheppard House') of Blue Cross (animal/peoples charity for pets of those unable - for reasons of health, etc - to pay vet fees)
Vice President United Response (charity for people with learning difficulties)
Fellow, Animal Health Trust
Member, UK Cancer Research Charity
Vice President, (past Chairman) Business in the Community
Past Chairman, The Prince's Trust (and Prince's Youth Business Trust) (now only infrequently involved)
Chairman of Trustees, Civilians Remembered Trust (Trust developing memorial park, etc for 60,000-plus civilians killed by bombing in 1939-45 war)
Patron of Trees for Cities

Lord Skidelsky

Non-executive Director, Janus Capital Group
Director, Transnational Insights

Non-executive Director, Greater Europe Fund

Professor of Political Economy, Warwick University, Department of Economics

Transnational Insights Ltd (100% of stock)

Governing Body, Brighton College
Member, Advisory Council, Wilton Park

Chairman, The Centre for Global Studies
Director, Moscow School of Political Studies

Lord Vallance of Tummel

Vice Chairman, Royal Bank of Scotland Group (served on the board in the early stages of the inquiry)
Member, Supervisory Board Siemens AG (engineering and services)
Director (Chairman), Nations Healthcare Ltd

International Advisory Board, Allianz AG (insurance)
European Advisory Council, Rothschild et cie (investment banking
Advisor, Amsphere Ltd (computing services)
Advisor, Postmasternet Ltd (retail services for postmasters)

425,000 shares in De Facto 479 Ltd (family owned investment company)

Wife is a member of the Committee on Standards in Public Life

Honorary Governor, Glasgow Academy
Honorary Fellow, Brasenose College, Oxford
Honorary Fellow, London Business School

Chairman, European Services Forum

Vice President, Princess Royal Trust for Carers

Lord Wakeham

Advisory Board, LEK Consultancy
Chairman, Genner Holdings plc

Genner Holdings Ltd (Investment Company)
Genner Farms Ltd (small family company)

Chairman of Governors, Cothill House
Chairman, Alexandra Rose Day
Chancellor, Brunel University
Deputy Lieutenant for Hampshire
Governor, Sutton's Hospital, Charterhouse
Justice of the Peace, Inner London Commission (Non-active)
Member of Council, St. Swithun's School
President, Brendoncare Foundation

Trustee, H.M.S. Warrior 1860

Trustee, Carlton Club

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