Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1729087

registered interest
date	11/09/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Growth
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to improve GDP growth.
tabling member printed	Lord Taylor of Warwick
uin	HL1006
answer	answer is ministerial correction date of answer 20/09/2024 answer text <p>Achieving sustained economic growth is the priority mission of this government. The government is focused on fixing the foundations of the UK’s economy.</p><p> </p><p>Having launched the Growth Mission in July 2024, the government has already taken several steps including planning reforms to get Britain building, establishing the National Wealth Fund, announcing a Pensions Review, and launching Skills England. The government is under no illusion of the scale of the challenge, however, given the difficult economic inheritance.</p><p> </p><p>HM Treasury does not prepare formal forecasts for the UK economy, which are the responsibility of the independent Office for Budget Responsibility (OBR). In its March forecast, the OBR expects that GDP per capita will surpass its pre-pandemic peak in 2025. Further details can be found in Table 1.5 of the OBR’s latest Economic and Fiscal Outlook published in March 2024: <a href="https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/" target="_blank">https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/</a>.</p> answering member printed Lord Livermore grouped question UIN HL1085 question first answered 20/09/2024 11:19:51 answering member 4559 label Biography information for Lord Livermore
tabling member	1796 label Biography information for Lord Taylor of Warwick

1728732

registered interest
date	10/09/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: Taxation
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 annual loss of tax revenue from small businesses.
tabling member printed	Lord Taylor of Warwick
uin	HL949
answer	answer is ministerial correction date of answer 19/09/2024 answer text <p>HMRC is committed to tackling all forms of non-compliance, including evasion. Each year HMRC makes an annual assessment of the tax gap, which is the difference between the amount of tax that should, in theory, be paid, and the amount that is actually paid. The latest published tax gap is for 2022-23 and was 4.8% of theoretical liabilities, or £39.8bn. The element attributable to small businesses is 60% (£24.1bn) of that overall tax gap.</p><p> </p><p>HMRC publishes these estimates in its annual ‘Measuring the Tax Gap’ report. <a href="https://www.gov.uk/government/statistics/measuring-tax-gaps" target="_blank">https://www.gov.uk/government/statistics/measuring-tax-gaps</a></p><p> </p><p>The tax gap derives from a wide range of non-compliant behaviours, from simple errors at one end of the spectrum to more deliberate behaviours at the other, requiring different approaches to tackle it. The Government is committed to ensuring that businesses and individuals pay the taxes they owe.</p><p><strong> </strong></p> answering member printed Lord Livermore question first answered 19/09/2024 15:32:03 answering member 4559 label Biography information for Lord Livermore
tabling member	1796 label Biography information for Lord Taylor of Warwick

1724011

registered interest
date	29/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Energy: Taxation
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 likely impact of their proposed increase in the windfall tax on the UK’s energy security.
tabling member printed	Lord Taylor of Warwick
uin	HL469
answer	answer is ministerial correction date of answer 07/08/2024 answer text <p>A key outcome of the government’s clean energy mission will be greater energy security and independence. The government recognises that oil and gas production in the North Sea will continue to play a role in our energy mix for decades to come. The government will achieve a phased and responsible transition by taking a proportionate approach that ensures the oil and gas sector continues to play a role whilst contributing more towards our clean energy transition.</p><p> </p> answering member printed Lord Livermore question first answered 07/08/2024 10:13:25 answering member 4559 label Biography information for Lord Livermore
tabling member	1796 label Biography information for Lord Taylor of Warwick

1724012

registered interest
date	29/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Disadvantaged
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to improve access to banking services for individuals who rely primarily on cash because of digital exclusion.
tabling member printed	Lord Taylor of Warwick
uin	HL470
answer	answer is ministerial correction date of answer 07/08/2024 answer text <p>The Government is committed to protecting access to cash for individuals and businesses. The Financial Conduct Authority is the regulator responsible for access to cash further to the Financial Services and Markets Act 2023, with powers to seek to ensure the reasonable provision of cash withdrawal and deposit facilities for individuals and businesses, including free withdrawal services for individuals.</p><p>The FCA published its final rules on access to cash on 24 July. Under its rules, designated firms will be required to undertake assessments of a community’s cash needs following the closure of a service or a community request, and to put in a new service if necessary. These rules come into force on 18 September.</p><p> </p><p>The Government also recognises the importance of banking services to communities and high streets and has committed to work closely with the banks to roll out 350 banking hubs over the next five years.</p> answering member printed Lord Livermore question first answered 07/08/2024 10:13:59 answering member 4559 label Biography information for Lord Livermore
tabling member	1796 label Biography information for Lord Taylor of Warwick

1723722

registered interest
date	25/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to support first-time buyers in taking advantage of new lower mortgage rates; and what additional incentives they are considering to stimulate home ownership.
tabling member printed	Lord Taylor of Warwick
uin	HL370
answer	answer is ministerial correction date of answer 02/08/2024 answer text <p>The average 2-year fixed rate mortgage rose from 2 per cent to 6.2 percent between Q1 2022 and Q1 2024, adding £300 to typical monthly payments.</p><p> </p><p>This government will deliver economic stability with tough spending rules so we can grow our economy and keep taxes, inflation and mortgages as low as possible.</p><p> </p><p>This Government will also help to turn the dream of owning a home into a reality by fixing the planning system and building 1.5 million more homes, as well as helping buyers who are struggling to save with Freedom to Buy.</p> answering member printed Lord Livermore question first answered 02/08/2024 13:25:41 answering member 4559 label Biography information for Lord Livermore
tabling member	1796 label Biography information for Lord Taylor of Warwick

1723724

registered interest
date	25/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Contactless Payments
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following the increasing popularity of the use of digital wallets, what steps they are taking to ensure the (1) security, and (2) privacy, of consumers using digital wallets for contactless payments.
tabling member printed	Lord Taylor of Warwick
uin	HL372
answer	answer is ministerial correction date of answer 01/08/2024 answer text <p>The government recognises the importance of ensuring payment methods, including digital wallets, offer a high level of security and privacy to consumers.</p><p> </p><p>Between them, the independent Payment Systems Regulator and Financial Conduct Authority are responsible for ensuring payments systems and financial markets are working well for consumers.</p><p> </p><p>These regulators have jointly published a Call for Information to better understand the impacts of the increasing popularity of digital wallets on consumers and businesses, including in relation to security and privacy. This Call for Information is open for responses until 13 September.</p> answering member printed Lord Livermore question first answered 01/08/2024 15:15:18 answering member 4559 label Biography information for Lord Livermore
tabling member	1796 label Biography information for Lord Taylor of Warwick

1723374

registered interest
date	24/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Growth
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking in collaboration with the Office for Budget Responsibility to ensure that economic growth forecasts are (1) realistic, and (2) aligned with the fiscal targets that have been set.
tabling member printed	Lord Taylor of Warwick
uin	HL319
answer	answer is ministerial correction date of answer 01/08/2024 answer text <p>The Office for Budget Responsibility (OBR) produces its forecasts independently from the Government.</p><p> </p><p>The OBR is required by primary legislation to publish an annual assessment of the accuracy of its forecasts. All previous Forecast Evaluation Reports are available on the OBR’s website.</p> answering member printed Lord Livermore question first answered 01/08/2024 15:18:13 answering member 4559 label Biography information for Lord Livermore
tabling member	1796 label Biography information for Lord Taylor of Warwick

1720004

registered interest
date	22/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cost of Living
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to (1) address, and (2) mitigate, the ongoing increased cost-of-living.
tabling member printed	Lord Taylor of Warwick
uin	HL4882
answer	answer is ministerial correction date of answer 24/05/2024 answer text <p>Over the last two years, the government has provided support to households to help with the cost of living worth over £90 billion.</p><p> </p><p>This year, this government has raised working age benefits by 6.7%, supporting 5.5 million households on Universal Credit, with an average gain of £470 this year. The government has also frozen fuel duty and raised the Local Housing Allowance rates to the 30<sup>th</sup> percentile of local market rates.</p><p> </p><p>The government believes that the best way of boosting living standards is by supporting people into work. The government has introduced other policies that will support over 200,000 additional people into work by 2028/29, according to the independent Office for Budget Responsibility. The government has also raised the National Living Wage (NLW) by 9.8%, ending low hourly pay for those on the NLW.</p> answering member printed Baroness Vere of Norbiton question first answered 24/05/2024 11:49:33 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1719908

registered interest
date	21/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Trade with EU: Carbon Emissions
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to align the UK's carbon border tax with the EU's mechanism to ensure that the UK steel industry is not adversely affected by the delayed implementation.
tabling member printed	Lord Taylor of Warwick
uin	HL4831
answer	answer is ministerial correction date of answer 24/05/2024 answer text <p>A Carbon Border Adjustment Mechanism (CBAM) is a novel mechanism yet to be fully implemented anywhere in the world.</p><p>Implementation of the UK CBAM by 2027 will allow government to consult fully with those affected throughout the design and implementation phases. It will also give those affected in the UK and overseas more time to prepare for the changes and put appropriate processes in place with their supply chains to enable them to comply.</p><p>The effective EU CBAM charge will be introduced gradually from 2026 to 2034 to match their phase out of free allowances for sectors covered by the CBAM, including iron &amp; steel. In 2026, only a relatively small amount of the emissions embodied in CBAM goods will face the EU CBAM charge when they are imported to the EU.</p> answering member printed Baroness Vere of Norbiton question first answered 24/05/2024 11:43:21 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1719190

registered interest
date	20/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, in the light of the fluctuations in mortgage rates, what steps they are taking to ensure guidance and support is available to help homebuyers when deciding their mortgage options.
tabling member printed	Lord Taylor of Warwick
uin	HL4797
answer	answer is ministerial correction date of answer 24/05/2024 answer text <p>Those looking to take out a mortgage or remortgage are encouraged to shop around and speak to a broker to find the best possible product for them. Homeowners and prospective homeowners may also find it helpful to contact MoneyHelper, which has been set up by the Government to support consumers with comprehensive guidance for every stage of their financial lives.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 24/05/2024 11:45:59 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick