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78315

registered interest
date	16/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Interest Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Written Answer by Lord Deighton on 7 July (WA 12), what representations the Chancellor of the Exchequer made to the Governor of the Bank of England during their most recent discussion on possible increases in interest rates.
tabling member printed	Lord Barnett
uin	HL1205
answer	answer is ministerial correction date of answer 28/07/2014 answer text <p>The UK’s monetary policy framework, set out in the Bank of England Act 1998, gives operational responsibility for monetary policy to the independent Monetary Policy Committee (MPC). The Chancellor of the Exchequer has frequent discussions with the Governor of the Bank of England on a wide range of issues on the UK economy.</p> answering member printed Lord Deighton question first answered 28/07/2014 11:50:43 answering member 4262 label Biography information for Lord Deighton
tabling member	1018 label Biography information for Lord Barnett

64135

registered interest
date	25/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Interest Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what discussions the Chancellor of the Exchequer has had with the Governor of the Bank of England on possible increases in interest rates; and what was the outcome of those discussions.
tabling member printed	Lord Barnett
uin	HL639
answer	answer is ministerial correction date of answer 07/07/2014 answer text <p>The UK's monetary policy framework, set out in the Bank of England Act 1998, gives operational responsibility for monetary policy to the independent Monetary Policy Committee (MPC). The Chancellor of the Exchequer has frequent discussions with the Governor of the Bank of England on a wide range of issues on the UK economy.</p><p> </p><p> </p> answering member printed Lord Deighton question first answered 07/07/2014 11:08:18 answering member 4262 label Biography information for Lord Deighton
tabling member	1018 label Biography information for Lord Barnett

47830

registered interest
date	09/04/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
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 average interest rate charged to small and medium-sized enterprises by United Kingdom banks.
tabling member printed	Lord Barnett
uin	HL6772
answer	answer is ministerial correction date of answer 23/04/2014 answer text <p>The Government is committed to supporting small and medium sized businesses and recognises their importance to the economy. Since 2010, the Government has introduced a number of schemes aimed at improving access to finance for businesses, including the creation of the British Business Bank and the introduction of the joint Government and Bank of England Funding for Lending Scheme.</p><p> </p><p>Decisions about whether to lend to specific individuals or businesses including the rate of interest charged, remain commercial decisions for banks and building societies.</p><p> </p> answering member printed Lord Deighton question first answered 23/04/2014 12:00:00 answering member 4262 label Biography information for Lord Deighton
tabling member	1018 label Biography information for Lord Barnett

45763

registered interest
date	27/03/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what discussions they have had with the Office for Budget Responsibility concerning explanations suggesting that there is a £20 billion shortfall in public finances.
tabling member printed	Lord Barnett
uin	HL6412
answer	answer is ministerial correction date of answer 08/04/2014 answer text <p>The independent OBR publish a log of all substantive contact with Ministers, their offices and special advisers on their website.</p> answering member printed Lord Newby question first answered 08/04/2014 12:00:00 answering member 1916 label Biography information for Lord Newby attachment 1 file name 3379LW 1314.pdf title OFFICE FOR BUDGET RESPONSIBILITY CONTACT LOG
tabling member	1018 label Biography information for Lord Barnett

45764

registered interest
date	27/03/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they consider that an agreement between the Chancellor of the Exchequer and the Governor of the Bank of England overrides the reserve powers given to HM Treasury in section 19(2) of the Bank of England Act 1998.
tabling member printed	Lord Barnett
uin	HL6413
answer	answer is ministerial correction date of answer 09/04/2014 answer text <p>The powers set out in section 19 of the Bank of England Act 1998 cannot be removed or amended except by further legislation approved by Parliament which amends that section of the 1998 Act.</p><p> </p><p>The Treasury may only make an order giving directions under section 19 after consultation with the Governor of the Bank of England, if the directions are required in the public interest and by extreme economic circumstances.</p><p> </p><p>Since the Monetary Policy Committee was given operational independence in 1997, covering the worst financial crisis in generations leading to the deepest recession since the Second World War, these powers have never been used.</p><p> </p><p> </p> answering member printed Lord Newby question first answered 09/04/2014 12:00:00 answering member 1916 label Biography information for Lord Newby
tabling member	1018 label Biography information for Lord Barnett