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1079000

registered interest
date	27/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Capital Markets: EU Action
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of (1) the political agreement reached by the European Parliament and member states on 26 February on the Capital Markets Union, and (2) whether UK investment firms' access to EU markets could be restricted if the UK leaves the EU without a deal.
tabling member printed	Lord Taylor of Warwick
uin	HL14118
answer	answer is ministerial correction date of answer 13/03/2019 answer text <p>On Tuesday 26<sup>th</sup> February, European policy-makers reached a political agreement on the Investment Firms Review (IFR) which is part of the Capital Markets Union.</p><p> </p><p>The Government welcomes the agreement as it supports a more proportionate regulatory regime, upholding market integrity and financial stability, and which will also benefit the industry and ultimately the wider economy.</p><p> </p><p>After the UK’s departure from the EU, EU market access for UK investment firms will be dependent on a positive equivalence determination from the EU. The European Commission has said that in a no deal scenario, it will prioritise financial stability and the EU’s own interests. However, as the Economic Secretary said on 12 February<sup><sup>[1]</sup></sup>,we can see no reason why the UK and the EU would not be able to find each other equivalent in any scenario. We leave with the same rulebook and both have third country equivalence frameworks to support cross-border activity.</p><p> </p><p>[1] https://hansard.parliament.uk/commons/2019-02-12/debates/0689c6cb-2bc5-4e53-a4f7-e2b3ecb2fa8f/DraftEquivalenceDeterminationsForFinancialServicesAndMiscellaneousProvisions(AmendmentEtc)(EUExit)Regulations2019</p><p> </p> answering member printed Lord Bates question first answered 13/03/2019 12:18:20 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1079001

registered interest
date	27/02/2019
answering body	Department for International Trade
answering dept id	202
answering dept short name	International Trade
answering dept sort name	International Trade
hansard heading	Import Duties
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to help UK businesses which trade with the EU to prepare for the effects of introducing tariffs in the event of a no-deal Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL14119
answer	answer is ministerial correction date of answer 14/03/2019 answer text <p>The Government has set out what the arrangements will be for tariffs on imports into the UK in a no deal scenario. It is a balanced tariff policy which aims to minimise costs to business and mitigate price impacts on consumers, while also supporting UK producers as far as possible. The Government has set out extensive information through the gov.uk website about what this policy will mean for businesses and the public, including the legal classification and applied rate of duty for all products being imported into the UK. Businesses can communicate through existing business and trade helplines (details available through gov.uk). The EU Exit Business Campaign has also been launched on gov.uk to help businesses prepare for no deal.</p> answering member printed Baroness Fairhead question first answered 14/03/2019 15:11:32 answering member 4690 label Biography information for Baroness Fairhead
tabling member	1796 label Biography information for Lord Taylor of Warwick

1079002

registered interest
date	27/02/2019
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Manufactured Goods: Storage
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the assessment of the Governor of the Bank of England that there may not be enough space in warehouses for UK manufacturers to stockpile goods in preparation for Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL14120
answer	answer is ministerial correction date of answer 04/03/2019 answer text <p>The Government continues to work towards a deal with the EU – this is very much in the interest of the EU as well as the UK – and we are committed to supporting vital industries under any EU exit scenario. Extensive engagement has taken – and is taking – place between Government and industry – including the manufacturing sector – to communicate the actions that businesses can take in preparation for EU exit, and to explore the implications of different scenarios on each sector.</p><p> </p><p>We have taken a number of positive steps to ensure that both people, and businesses are prepared for EU Exit, including:</p><ul><li>Publishing more than 100 pages of guidance for businesses on processes, and procedures at the border;</li><li>Contacting 145,000 businesses who trade with the EU, and making them aware of future customs procedures;</li><li>Advising hundreds of ports, traders, pharmaceutical firms, and other organisations that use the border on issues concerning their supply chains; and</li><li>Providing £8m to support private customs intermediaries, and traders to increase their capacities, and train employees in preparation for EU exit.</li></ul><p> </p><p>Businesses can search the public information campaign pages for further up to date material on the considerations of EU exit for businesses, and the practical steps that they will need to take in preparation.</p> answering member printed Lord Henley question first answered 04/03/2019 13:52:27 answering member 2616 label Biography information for Lord Henley
tabling member	1796 label Biography information for Lord Taylor of Warwick

1079003

registered interest
date	27/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the assessment of the Chief Executive of the Financial Conduct Authority in evidence to the EU Financial Affairs Sub-Committee on 27 February that there may be market disruption in the event of a no-deal Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL14121
answer	answer is ministerial correction date of answer 13/03/2019 answer text <p>Leaving the EU with a deal remains the Government’s top priority. An Implementation Period is the most effective approach to ensuring a smooth and orderly exit from the EU. That is why it is so important that we are redoubling our efforts to reach a negotiated deal that Parliament can support.</p><p>The Government has taken action to minimise disruption for UK households and businesses regardless of the outcome, including by introducing temporary regimes for EEA firms operating in the UK.</p><p>As the FPC set out in its latest Financial Policy Summary, the core of the UK’s financial system is resilient to, and prepared for, the wide range of risks it could face, including a disorderly worst case Brexit. And while the FPC has noted that significant market volatility is to be expected in a disorderly Brexit, it has also noted that markets have proved able to function effectively through volatile periods.</p><p> </p> answering member printed Lord Bates question first answered 13/03/2019 12:19:14 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick