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1042281

registered interest
date	16/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	VAT: Electronic Government
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 15 January 2019 to Question 207321, for what reasons that answer did not provide an estimate of what proportion of eligible businesses the 4000 companies now in scope for making tax digital represents.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	209400
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>Further to my response on 15 January 2019 to PQ 207321, daily take-up during this pilot stage has now increased to over 200 businesses a day, and total take-up has increased to over 6,000.</p><p> </p><p>As set out in my previous response, a key objective of this pilot stage is to ensure that full testing is undertaken with the full range of mandated business types, so that improvements to the service and customer support model can be made where necessary. The technical aspects of the service have been rigorously tested to date with a cross-section of business types, including specific trades, representative of the wider business population. While we expect take-up to increase further in the run-up to the mandation date, it would be misleading for the reasons set out in my previous response for that to be the sole focus. At this stage, in line with expectations and plans, take-up is a small but growing proportion of the overall mandated population of 1.1 million.</p><p> </p><p>HMRC is continuing to issue letters to all businesses in scope inviting them to join early, alongside a range of other communications activity, which is increasing participation in the pilot. HMRC’s assessment is that progress with take-up across the range of business types and other delivery activity is on track to be ready to mandate the service for VAT periods which start on or after 1 April 2019.</p><p> </p><p>The Government has continued to engage with stakeholders and listen to their concerns about business readiness. In October I announced a 6 month delay for those customers with the most complex requirements, to ensure there is sufficient time for testing the service with them in the pilot before they are mandated to join from 1 October 2019.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 21/01/2019 15:15:23 answering member 3935 label Biography information for Mel Stride
tabling member	4657 label Biography information for Anneliese Dodds

1042398

registered interest
date	16/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Loan Guarantee Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that loans provided (a) under English law and (b) by UK-based companies to (i) governments and (ii) with government guarantees are publicly disclosed when they are given.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	209300
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>UK-based lenders are subject to prudential disclosure requirements under UK prudential and accounting law. This includes loans made to foreign governments. Compliance with these requirements are independently assessed by the relevant UK regulator during their supervisory activities.</p><p> </p><p>Given the complex international nature of sovereign debt, we continue to believe that internationally-agreed approaches are the most effective way to promote sovereign debt transparency. The UK supports the IMF and World Bank’s efforts to improve capacity and capabilities of sovereign borrowers.</p><p> </p><p>The UK recognizes that creditors also have an important role to play in securing debt transparency and sustainability. The UK is working through the G20 to monitor an industry-led initiative by the Institute of International Finance (IIF) to improve the transparency of lending of private creditors.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 21/01/2019 15:46:15 answering member 4097 label Biography information for Elizabeth Truss
tabling member	178 label Biography information for John McDonnell

1036903

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Investment: Property
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they intend to take to investigate the operation of real estate investment funds, in particular (1) the property valuations used by these funds, (2) whether fund investors and redeemers are treated equally, and (3) the calculation of fund management fees.
tabling member printed	Lord Myners
uin	HL12545
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Bates question first answered 21/01/2019 15:39:18 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

1036904

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Stamp Duty Land Tax
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 Bates on 20 December (HL12311), what impact Stamp Duty Land Tax has had on (1) housing mobility, and (2) the frequency of housing transactions, since 2014.
tabling member printed	Lord Birt
uin	HL12546
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>HMRC publish quarterly and annual statistics on transaction volumes which are available on GOV.UK.</p><p> </p><p>At Autumn Statement 2014 the Government reformed the structure of Stamp Duty Land Tax, cutting the tax paid on all purchases of residential property to a value of £937,500, unless purchasing additional property – a reduction for 98% of those paying the tax.</p><p> </p><p>Housing market activity is affected by a wide variety of factors, of which Stamp Duty Land Tax is just one.</p> answering member printed Lord Bates question first answered 21/01/2019 15:45:48 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

1036905

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Unions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to support and enable the growth of credit unions.
tabling member printed	Lord Myners
uin	HL12547
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a two-year pilot of a new prize-linked savings scheme offered through credit unions. This will support the credit union sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks.</p><p> </p><p>The Chancellor also announced a new £2 million challenge fund to promote innovative solutions from the UK’s Fintech sector to address challenges faced by social and community lenders, including credit unions. This follows the success of last year’s Rent Recognition Challenge, where UK Fintechs were invited to develop digital solutions for incorporating rental data into credit scores.</p> answering member printed Lord Bates question first answered 21/01/2019 15:38:44 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

1036959

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Standard of Living
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 Bates on 17 December 2018 (HL11981), what conclusions were reached by HM Treasury, along with other relevant departments, about the equality and cumulative impact of their decisions on those people sharing protected characteristics; and what assessment they have made of how such conclusions compare with those of the Equality and Human Rights Commission in its report The cumulative impact in living standards of public spending changes, published on 28 November, in respect of the effect of public spending changes on lone parents, young adults, severely disabled people and certain ethnic groups since 2010.
tabling member printed	Lord Ouseley
uin	HL12601
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>Equality and fairness continue to be at the heart of this Government’s agenda, and HM Treasury and other departments take their compliance with the Equality Act’s Public Sector Equality Duty seriously when deciding policy. Impact assessments of government policies, including the impact on equalities, are often published by relevant departments. In the interests of transparency, the Treasury and HMRC publish tax information and impact notes (TIINs) for individual tax measures that include, in summary form, assessments of their expected equalities impacts.</p><p>The government does not accept that the EHRC’s report presents an accurate view of the impacts of its policy choices. In its analysis of public spending, the EHRC does not cover the increase in spending in the new multi-year funding plan for NHS England, equating to £20.5bn more per year in real terms by 2023-24 or changes to the UC work allowance announced at Budget 2018.</p> answering member printed Lord Bates question first answered 21/01/2019 15:31:26 answering member 1091 label Biography information for Lord Bates
tabling member	2170 label Biography information for Lord Ouseley

1036960

registered interest
date	07/01/2019
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 analysis conducted by the EY financial services Brexit Tracker, published on 7 January, which states that financial services companies have moved approximately £800 billion of assets to Europe; and what assessment, if any, they have made of the impact of such asset moves on the UK financial services sector post-Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL12602
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>We remain committed to preserving our competitive position in financial services after the UK has left the European Union.</p><p> </p><p>Firms that are using the EU “passport” to serve clients recognise that further steps to legal certainty remain, and are taking the sensible step of carrying out contingency planning with respect to their operations in the UK and elsewhere in Europe for the event that no deal is reached with the EU.</p><p> </p><p>We have successfully agreed commitments for working towards a future framework with the EU on financial services and both sides intend to take decisions on granting equivalence at least 6 months before the end of the Implementation Period.</p><p> </p>The Government’s long-term economic analysis sets out the impact of the UK’s White Paper position on the financial services sector.<p> </p> answering member printed Lord Bates question first answered 21/01/2019 15:34:11 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1036962

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Exchange Rates
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 effects of Brexit uncertainty on exchange rate volatility; and what assessment, if any, they have made of the impact of such volatility on business planning in the UK manufacturing sector.
tabling member printed	Lord Taylor of Warwick
uin	HL12604
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>Her Majesty’s Government continues to monitor the effects of Brexit uncertainty on exchange rate volatility. Recent financial market movements have been driven by a combination of global events as well as domestic developments.</p><p> </p><p>Overall, uncertainty is a key concern of businesses, including those in the manufacturing sector, as evidenced in recent manufacturing focussed business surveys. Furthermore, the Agent’s survey on EU withdrawal preparation from the Bank of England recorded that around 35% of respondents in manufacturing had already made some change to their business plans since the referendum with a further 25-30% expecting to adjust their business plans by end-March 2019.</p><p> </p><p>Delivering the settlement negotiated with the EU remains our top priority. The Government will continue to take steps to provide businesses with information for a range of scenarios. These include HMRC publishing a ‘Partnership Pack’ to help businesses prepare for changes at the UK border and the publication of 106 technical notices to help businesses prepare for a ‘no deal’ scenario. The Government has also launched a public information campaign to ensure that citizens and businesses are well informed about how Brexit will affect them and the practical steps they will need to take.</p> answering member printed Lord Bates question first answered 21/01/2019 15:41:42 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick