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1692582

registered interest
date	28/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Sanctions: Russia
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they are taking steps through the Financial Action Task Force against Russia for violating sanctions on North Korea.
tabling member printed	Lord Alton of Liverpool
uin	HL2823
answer	answer is ministerial correction date of answer 05/03/2024 answer text <p>On 23 February, the Financial Action Task Force (FATF) expressed its concern about the growing financial connectivity of Russia with countries subject to countermeasures, namely North Korea and Iran, and the potential risks of proliferation financing, malicious cyber activities and ransomware attacks.</p><p>The UK’s recent joint statement (12 January 2024) is clear that Russia’s procurement of North Korean ballistic missiles and their use against Ukraine violate multiple UNSCRs. Actively facilitating the circumvention of UNSCR 1718 and violating its prohibitions undermines the global fight against proliferation, the UN sanctions regime, and consequently the financial sanctions requirements of the FATF standards. The UK will continue to call out Russia’s violation of UNSCRs both at the UN and within the FATF.</p> answering member printed Baroness Vere of Norbiton question first answered 05/03/2024 12:28:19 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	738 label Biography information for Lord Alton of Liverpool

1676099

registered interest
date	06/12/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Assets: Russia
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what estimate they have made of the total value of Russian state assets in the UK.
tabling member printed	Lord Alton of Liverpool
uin	HL904
answer	answer is ministerial correction date of answer 18/12/2023 answer text <p>In conjunction with our partners, we have immobilised approximately $280 billion of the Russian Central Bank’s (CBR) foreign currency reserves globally. The CBR’s assets are not subject to an asset freeze but have been immobilised in the UK as it is prohibited to provide financial services in respect of these assets. HM Treasury is working closely with relevant authorities to map the scale and nature of these assets.</p><p> </p><p>The Government will legislate to require persons to inform HM Treasury if they hold any foreign exchange reserves or assets in the UK on behalf of the Central Bank of Russia, Russian Ministry of Finance or Russian National Wealth Fund.</p><p> </p><p>Separately, the Government has imposed asset freezes against designated persons under the Russia Sanctions regime. Between February and October 2022, £18.39 billion in frozen funds were reported to the Office of Financial Sanctions Implementation (OFSI) in relation to this regime.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 18/12/2023 13:01:29 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	738 label Biography information for Lord Alton of Liverpool

1538932

registered interest
date	02/11/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Overseas Investment: China
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the exposure of UK investors to Chinese government bonds and stocks following the fall of the Hang Seng Index; and what holdings they currently have in the (1) Hong Kong dollar, and (2) Renminbi.
tabling member printed	Lord Alton of Liverpool
uin	HL3136
answer	answer is ministerial correction date of answer 16/11/2022 answer text <p>HM Treasury works closely with the UK’s independent financial regulators - including the Bank of England and Financial Conduct Authority to monitor risks to the UK financial system.</p><p> </p><p>The Government does not comment on specific financial market movements. However, the results of the Bank of England's 2021 stress test concluded that the UK banking sector is resilient to a sharp contraction in both China and Hong Kong's economic activity.</p><p> </p><p>Figures from the Office for National Statistics estimate that UK investors owned around £409bn of investment in China and Hong Kong at the end of 2021- or around 3% of the UK’s total investment held overseas. This compares to £4.3tn of investment held in the USA and £4.6tn in the EU.</p> answering member printed Baroness Penn question first answered 16/11/2022 17:06:03 answering member 4726 label Biography information for Baroness Penn
tabling member	738 label Biography information for Lord Alton of Liverpool

1488539

registered interest
date	12/07/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Cooperation: China
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they intend to hold the 11th UK–China Economic and Financial Dialogue before the appointment of the next Prime Minister; and if so, what are the reasons for making such arrangements.
tabling member printed	Lord Alton of Liverpool
uin	HL1661
answer	answer is ministerial correction date of answer 21/07/2022 answer text <p>The Government has no plans to hold the next 11<sup>th</sup> UK-China Economic and Financial Dialogue before the appointment of the next Prime Minister.</p><p> </p><p>Economic and Financial Dialogues remain an important mechanism for progressing our economic, financial and trade relationships.</p> answering member printed Baroness Penn question first answered 21/07/2022 11:36:08 answering member 4726 label Biography information for Baroness Penn
tabling member	738 label Biography information for Lord Alton of Liverpool

1488541

registered interest
date	12/07/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	China: Politics and Government
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, in arrangements for the 11th UK–China Economic and Financial Dialogue, what consideration they have given to (1) reports that the Foreign Secretary described events in Xinjiang as a “genocide”, (2) threats to the territorial integrity of Taiwan, and (3) the statement by the Foreign, Commonwealth and Development Office in the Six-monthly report on Hong Kong, published on 31 March, that “fundamental parts of the ‘One Country, Two Systems’ framework have been undermined”.
tabling member printed	Lord Alton of Liverpool
uin	HL1663
answer	answer is ministerial correction date of answer 21/07/2022 answer text <p>Economic and Financial Dialogues (EFDs) provide an important mechanism for progressing our economic, financial and trade relationships. No date has been agreed for the next UK-China EFD.</p><p>We have been clear that we will not hesitate to stand up to China on our values where they are threatened.</p><p>The UK has led international efforts at the UN to hold China to account for its human rights violations in Xinjiang. We have imposed sanctions, including asset freezes and travel bans, on senior Chinese officials and taken steps to help ensure that no UK organisations are complicit in these violations through their supply chains. As a co-signatory to the Joint Declaration, we will continue to stand up for the people of Hong Kong, to call out the violation of their freedoms, and to hold China to their international obligations.</p> answering member printed Baroness Penn question first answered 21/07/2022 11:36:35 answering member 4726 label Biography information for Baroness Penn
tabling member	738 label Biography information for Lord Alton of Liverpool

1465586

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Freezing of Assets: Russia
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is the estimated value of Russian assets frozen to date; what further consideration are they giving to other assets that should be subjected to freezing orders; and what is the estimated value of those assets.
tabling member printed	Lord Alton of Liverpool
uin	HL468
answer	answer is ministerial correction date of answer 07/06/2022 answer text <p>Relevant firms are legally obliged to report to the Office of Financial Sanctions Implementation (OFSI) if they hold frozen assets of a designated person or entity they suspect to be on the list of asset freeze targets. OFSI is currently receiving a high volume of reporting about assets being frozen relating to sanctions imposed since Russia's invasion of Ukraine. This information is being collated and assured. Fuller details will be released in due course and will mark a substantial increase on previous assets reported as frozen under Russia sanctions.</p><p> </p><p>With our international allies, we have introduced the largest and most severe economic sanctions that Russia has ever faced. These coordinated sanctions will continue to go deeper, broader and sharper, with a focus on those that can have the biggest impact.</p> answering member printed Baroness Penn question first answered 07/06/2022 11:25:44 answering member 4726 label Biography information for Baroness Penn
tabling member	738 label Biography information for Lord Alton of Liverpool

1435366

registered interest
date	24/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Hikvision: Corporation Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how much corporation tax Hikvision paid to the Exchequer in (1) 2021, (2) 2020, (3) 2019, and (4) 2018.
tabling member printed	Lord Alton of Liverpool
uin	HL6408
answer	answer is ministerial correction date of answer 07/03/2022 answer text <p>The information requested cannot be provided.</p><p> </p><p>HMRC has a legal duty to maintain the confidentiality of taxpayer information and disclosing information to persons outside of HMRC is only allowed in a limited number of circumstances. These are set out in Section 18 of the Commissioners of Revenue and Customs Act 2005.</p> answering member printed Baroness Penn question first answered 07/03/2022 14:28:45 answering member 4726 label Biography information for Baroness Penn
tabling member	738 label Biography information for Lord Alton of Liverpool

1379739

registered interest
date	17/11/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Companies: China
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how many Chinese companies have representatives participating in advisory groups convened by HM Treasury; and how many meetings Treasury (1) ministers, and (2) officials, had Chinese companies in the last year.
tabling member printed	Lord Alton of Liverpool
uin	HL4119
answer	answer is ministerial correction date of answer 30/11/2021 answer text Ministers and officials meet with a wide range of stakeholders in the course of normal business. Details of all official meetings by ministers are published on <a href="http://www.gov.uk" target="_blank">www.gov.uk</a>. answering member printed Lord Agnew of Oulton question first answered 30/11/2021 17:47:06 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	738 label Biography information for Lord Alton of Liverpool

1362384

registered interest
date	21/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Assets and Bank Services: Hong Kong
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made, if any, of (1) UK assets and bank accounts owned by officials of the government of Hong Kong, and (2) the UK property market’s exposure to the Evergrande liquidity crisis.
tabling member printed	Lord Alton of Liverpool
uin	HL3263
answer	answer is ministerial correction date of answer 04/11/2021 answer text <p>The Government does not comment on the financial positions of individuals.</p><p> </p><p>In its October 2021 record, the Financial Policy Committee of the Bank of England noted that “the interim results of the 2021 Solvency Stress Test indicate that the UK banking system is resilient to the direct effects of a severe downturn in China and Hong Kong, and sharp adjustments in global asset prices”.</p> answering member printed Lord Agnew of Oulton question first answered 04/11/2021 15:46:12 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	738 label Biography information for Lord Alton of Liverpool

1362385

registered interest
date	21/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Assets: China and Hong Kong
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 number of officials of the government of Hong Kong whose families hold UK citizenship; and what plans they have, if any, to audit the UK assets of officials of the governments of (1) Hong Kong, and (2) China.
tabling member printed	Lord Alton of Liverpool
uin	HL3264
answer	answer is ministerial correction date of answer 04/11/2021 answer text The Government does not assess the number of officials of the government of Hong Kong whose families hold UK citizenship. The Government does not comment on the financial positions of individuals. answering member printed Lord Agnew of Oulton question first answered 04/11/2021 15:45:39 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	738 label Biography information for Lord Alton of Liverpool