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694193

registered interest
date	24/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Inheritance Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent estimate he has made of the cost to the Exchequer of lost revenue resulting from changes to inheritance tax thresholds announced in Budget 2015 in the (a) 2017-18, (b) 2018-19, (c) 2019-20 and (d) 2020-21 fiscal year.
tabling member constituency	Leeds West
tabling member printed	Rachel Reeves
uin	65490
answer	answer is ministerial correction date of answer 06/03/2017 answer text <p>At Summer Budget 2015, the Government announced the introduction of a new ‘residence nil rate band’ for inheritance tax when a home is passed on death to a direct descendent. It will start at £100,000 in 2017-18, increasing in £25,000 increments to £175,000 in 2020-21. This, in addition to the existing nil rate band of £325,000, will increase the inheritance tax free threshold to £500,000 for many individuals, and up to £1 million for many married couples and civil partners by 2020-21.</p><p> </p><p>The latest estimates of the cost to the Exchequer of introducing the residence nil rate band from 2017-18 to 2020-21 are published in Table 2.2 of the Budget 2016 official publication at: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508193/HMT_Budget_2016_Web_Accessible.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/508193/HMT_Budget_2016_Web_Accessible.pdf</a>.</p><p> </p><p>The next update to this publication is scheduled for 8 March 2017, following the Spring Budget 2017 announcements.</p> answering member constituency Battersea answering member printed Jane Ellison question first answered 06/03/2017 15:08:27 answering member 3918 label Biography information for Jane Ellison
tabling member	4031 label Biography information for Rachel Reeves

694337

registered interest
date	24/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Works Loan Board
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government how much has been lent by the Public Works Loan Board (PWLB) to local authorities for the acquisition of commercial real estate for investment purposes, from 2011 to 2016 inclusive; and how the PWLB is monitoring the risk from such investments.
tabling member printed	Lord Myners
uin	HL5611
answer	answer is ministerial correction date of answer 06/03/2017 answer text <p>The Public Works Loan Board (PWLB) is a statutory body that issues loans to local authorities in England, Scotland and Wales from the National Loans Fund. The PWLB is not required to collect information on the specific reasons that local authorities borrow from it, and so it does not hold information about the amount of lending that has been used for acquisition of commercial real estate.</p><p>Before it can advance a loan to a local authority, the PWLB requires formal assurance from the authority that the loan is within their borrowing powers and the relevant legislation. Local authorities are required to have regard to the Prudential Code when they borrow from the PWLB or from any other lender. The main objective of the Prudential Code is to ensure, within a clear framework, that the capital investment plans of local authorities are affordable, prudent and sustainable. Responsibility for local authority spending and borrowing decisions lies with locally-elected council Members, who are democratically accountable to their electorates.</p> answering member printed Baroness Neville-Rolfe question first answered 06/03/2017 16:11:04 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners