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990166

registered interest
date	17/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation
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 conclusion by the Institute for Fiscal Studies report, The IFS Green Budget, published on 16 October, that it would be necessary to raise tax revenues by 1 per cent of national income to "end austerity".
tabling member printed	Lord Taylor of Warwick
uin	HL10788
answer	answer is ministerial correction date of answer 25/10/2018 answer text <p>The government has been clear that it is committed to a balanced approach, funding our public services, keeping tax as low as possible while getting debt down. The Chancellor will set out his approach in more detail at next Monday’s Budget.</p> answering member printed Lord Bates question first answered 25/10/2018 13:51:23 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

985045

registered interest
date	10/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Digital Technology: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they intend to impose a digital services tax on large technology companies.
tabling member printed	Lord Taylor of Warwick
uin	HL10588
answer	answer is ministerial correction date of answer 24/10/2018 answer text <p>In its position papers, the government has set out the challenges that the digital economy poses to the international tax system, and the need for global reforms of that system to acknowledge the value users create for digital businesses.</p><p> </p><p>Any changes to the tax system are a matter for the Chancellor at the Budget.</p> answering member printed Lord Bates question first answered 24/10/2018 13:14:25 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

985046

registered interest
date	10/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business: Taxation
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 Confederation of British Industry’s call to review business rates and raise the annual investment allowance to £500,000 for 2 years.
tabling member printed	Lord Taylor of Warwick
uin	HL10589
answer	answer is ministerial correction date of answer 24/10/2018 answer text <p>The government is aware of the Confederation of British Industry’s proposals. All taxes remain under review and any future changes to the tax system would be considered in line with the normal Budget process.</p><p> </p> answering member printed Lord Bates question first answered 24/10/2018 13:13:52 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

985048

registered interest
date	10/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Film: Tax Allowances
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 report by the British Film Institute Screen Business: How screen sector tax reliefs power economic growth across the UK, published October 2018; and whether they intend to further assist the British film industry as a result of its findings.
tabling member printed	Lord Taylor of Warwick
uin	HL10591
answer	answer is ministerial correction date of answer 24/10/2018 answer text <p>The government welcomes the British Film Institute’s report. The creative industries make a valuable cultural contribution to the UK and are an important part of a dynamic and diversified economy. The government also welcomes the British Film Institute’s efforts in improving the evidence about the impact of the screen sector on the UK economy.</p><p> </p><p>2,420 films have benefitted from the film tax relief since it was introduced in 2007, providing support worth £469 million to the production of culturally British films in 2017-18, up from £424 million the year before.</p><p> </p><p>Last year the government invested almost £70 million in grant in aid and national lottery funding through the British Film Institute.</p><p> </p><p><strong> </strong></p> answering member printed Lord Bates question first answered 24/10/2018 13:14:09 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

971918

registered interest
date	11/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: VAT
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have, if any, to recover any VAT tax receipts from City businesses lost in the event of a no-deal Brexit; and what estimate they have made of the amount of any such loss.
tabling member printed	Lord Taylor of Warwick
uin	HL10278
answer	answer is ministerial correction date of answer 19/09/2018 answer text <p>It is our duty as a responsible Government to prepare for all possible outcomes of negotiations with the EU, including the unlikely scenario in which no mutually satisfactory agreement can be reached. This is why the Government will continue to publish a series of Technical Notices to help businesses and citizens prepare in the event of a ‘no deal’ scenario. However, the Government does not want, nor expect, this scenario to arise.</p> answering member printed Lord Bates question first answered 19/09/2018 11:19:51 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

971230

registered interest
date	10/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of reports that the UK economy may face a short-term slowdown in the event of a no-deal Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL10226
answer	answer is ministerial correction date of answer 19/09/2018 answer text <p>The Government has published its White Paper on the future relationship, which is our vision for a bold, ambitious and innovative new partnership with the EU.</p><p> </p><p>The Government remains confident the UK and EU will agree a mutually advantageous deal. Leaving the EU without a deal is in neither side’s interests.</p><p> </p><p>Once the Government has agreed a deal with the EU we will provide Parliament with the appropriate analysis of that deal ahead of the vote on the final deal.</p> answering member printed Lord Bates question first answered 19/09/2018 11:20:09 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

969347

registered interest
date	06/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of reports that the value of crypto-currencies in the United States is falling, and of the potential effects that such a decline might have on the UK blockchain industry.
tabling member printed	Lord Taylor of Warwick
uin	HL10177
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>The Government has not made a formal assessment of any potential implications of recent changes in the value of cryptocurrencies. However, the Government continues to monitor developments in the cryptocurrency market.</p><p>The Chancellor of the Exchequer launched the Cryptoassets Taskforce in March, consisting of HM Treasury, the Bank of England and the Financial Conduct Authority. The Taskforce is considering the risks and potential benefits of cryptoassets and other applications of distributed ledger technology in financial services, as well as assessing what, if any, regulation is required in response. The Taskforce will publish a report in the Autumn.</p> answering member printed Lord Bates question first answered 14/09/2018 13:34:29 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

969348

registered interest
date	06/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of rising levels of debt among lower income households in recent years; and what plans, if any, they have made to address this issue.
tabling member printed	Lord Taylor of Warwick
uin	HL10178
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>Household debt as a proportion of income is down significantly from its pre-crisis peak, from 160% in Q1 2008 to 140% in Q1 2018.</p><p>The government is working to support those on lower incomes by putting in measures to improve living standards and making it easier to access help with financial matters. The National Living Wage has increased the earnings of the lowest paid full time worker by over £2,000 since 2016, and real household disposable income per person is now 3.4% higher than the start of 2010.</p><p>The government is also setting up a new Single Financial Guidance Body, which will provide consumers with a single point of contact for help with all financial matters, and have a statutory responsibility to improve the public’s financial capability.</p><p>However, we recognise that, despite this action, some people can fall into problem debt. That is why the government-commissioned Money Advice Service is spending over £56m to provide debt advice to at least 530,000 people this year, and we are introducing a breathing space scheme to provide people with unmanageable debt protection from creditor action so they can seek debt advice and enter into a sustainable debt solution.</p> answering member printed Lord Bates question first answered 14/09/2018 13:33:54 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

967544

registered interest
date	04/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Laundering: 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 whether the UK will continue to adopt new EU legislation on anti-money laundering in the event of a no-deal Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL10027
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>The Sanctions and Anti-Money Laundering Act 2018 provides the Government with the powers to amend and update anti-money laundering and counter-terrorist financing (AML/CTF) regulations post -Brexit. The Government will use these powers to continue implementing the international AML/CTF standards set by the Financial Action Task Force (FATF), and to continue strengthening the UK’s AML/CTF regime.</p> answering member printed Lord Bates question first answered 14/09/2018 11:48:10 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

947126

registered interest
date	23/07/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Trade Competitiveness
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have, if any, to ensure that the City of London remains a truly competitive, global financial hub after Brexit; and if they do, whether such plans would involve cuts to corporation tax.
tabling member printed	Lord Taylor of Warwick
uin	HL9816
answer	answer is ministerial correction date of answer 02/08/2018 answer text <p>The UK is home to the world’s preeminent financial centre and the government is committed to maintaining and enhancing this position post-Brexit. In addition to our natural advantages, such as a central time zone and the English language, we have strengths across all the major sectors – banking, asset management, and insurance – alongside a globally respected regulatory system, and world-class legal and professional services.</p><p>Alongside these strengths, we also already have a competitive tax offer. The UK corporation tax rate is the lowest in the G20 at just 19 per cent, and is legislated to fall to 17 per cent in 2020. All together, these factors have made the City of London the world’s leading financial centre and will continue to do so.</p><p>As the Chancellor of the Exchequer set out in his Mansion House speech in June, the government has a long-term vision for the future of UK financial services, based on ensuring the continued innovation, resilience, and openness of the sector. This includes strengthening the UK’s already world-leading positions in the markets of the future, whether in Fintech, green and sustainable finance, or rupee and renminbi products.</p><p> </p> answering member printed Lord Bates question first answered 02/08/2018 12:00:38 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick