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143442

	registered interest
	date	07/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government how much they owe the government of the United States as a result of the First World War; and what are the arrangements for repayment.
	tabling member printed	Lord Laird
	uin	HL2727
	answer	answer is ministerial correction date of answer 20/11/2014 answer text <p>At the end of the First World War, the debt owed to the United States by the United Kingdom amounted to around £850 million. Repayments of the debt were made between 1923 and 1931. In 1931, President Hoover of the United States proposed a one year moratorium on all war debts, which allowed extensive international discussions on the general problems of debt repayment to be held. However, no satisfactory agreement was reached. In the absence of such an agreement, no payments have been made to, or received from, other nations since 1934. At the time, the United Kingdom was owed more by other nations than the outstanding principal it owed the United States.</p><p> </p><p> </p><p> </p><p>For this reason, liabilities and assets arising from WW1 have not been listed on the UK government’s balance sheet since 1944-45.</p><p> </p> answering member printed Lord Deighton question first answered 20/11/2014 17:03:29 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

166116

	registered interest
	date	25/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether any countries owe money to the United Kingdom as a result of the First World War; and if so, which and how much in each case.
	tabling member printed	Lord Laird
	uin	HL3174
	answer	answer is ministerial correction date of answer 09/12/2014 answer text <p>At the end of World War I, debt was owed between the UK and other countries. However, in 1931 President Hoover of the United States proposed a one year moratorium on all War debts, which allowed extensive international discussions on the general problems of debt repayment to be held. No satisfactory agreement was reached. In the absence of such an agreement no payments have been made to, or received from, other nations since 1934.</p><p> </p><p> </p><p> </p><p>The most recent repayment made by the UK on its debt to the US from the First World War was made in the financial year 1932-33. More specific information on the date of this payment is not available.</p><p> </p><p> </p><p> </p><p>The UK included the First World War debt to the US as part of the National Debt up until 1944-45, however all First World War debts to and from other nations are now effectively considered as having lapsed. Therefore, as explained in the answer to the original question, no arrangements have been made for repayment of the debt.</p><p> </p><p> </p><p> </p><p>In addition, the government holds eight undated gilts in its debt portfolio, three of which stem from bonds originally issued to raise money to finance the First World War.</p><p> </p><p> </p><p> </p><p>The Chancellor has announced that two of these undated gilts, 4% Consolidated Loan and 3½% War Loan, will be redeemed, on 1 February 2015 and 9 March 2015 respectively. These gilts account for some 99% of the bonds originally issued to finance the First World War. The government has also announced a strategy to remove the remaining undated gilts from the debt portfolio when it is deemed value for money to do so.</p><p> </p><p> </p><p> </p><p>The repayments on this debt will go to the holders of these bonds. The Treasury does not hold detailed information on the identity of organisations or individuals who own gilts, however information on sectoral holdings of gilts is published on a quarterly basis by the Office for National Statistics. The latest information on the breakdown of gilt holdings by sector, including a breakdown of non-UK resident holders of gilts by foreign central banks and other non-residents, is published by the ONS in Section 5.2.10 of its quarterly United Kingdom Economic Accounts publication.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3175 HL3176 question first answered 09/12/2014 17:41:36 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

166117

	registered interest
	date	25/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	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 20 November (HL2727), concerning debt for the First World War, what are the arrangements for repayment of the United Kingdom's debt to the United States; and why that information was not included in the answer to the original question.
	tabling member printed	Lord Laird
	uin	HL3175
	answer	answer is ministerial correction date of answer 09/12/2014 answer text <p>At the end of World War I, debt was owed between the UK and other countries. However, in 1931 President Hoover of the United States proposed a one year moratorium on all War debts, which allowed extensive international discussions on the general problems of debt repayment to be held. No satisfactory agreement was reached. In the absence of such an agreement no payments have been made to, or received from, other nations since 1934.</p><p> </p><p> </p><p> </p><p>The most recent repayment made by the UK on its debt to the US from the First World War was made in the financial year 1932-33. More specific information on the date of this payment is not available.</p><p> </p><p> </p><p> </p><p>The UK included the First World War debt to the US as part of the National Debt up until 1944-45, however all First World War debts to and from other nations are now effectively considered as having lapsed. Therefore, as explained in the answer to the original question, no arrangements have been made for repayment of the debt.</p><p> </p><p> </p><p> </p><p>In addition, the government holds eight undated gilts in its debt portfolio, three of which stem from bonds originally issued to raise money to finance the First World War.</p><p> </p><p> </p><p> </p><p>The Chancellor has announced that two of these undated gilts, 4% Consolidated Loan and 3½% War Loan, will be redeemed, on 1 February 2015 and 9 March 2015 respectively. These gilts account for some 99% of the bonds originally issued to finance the First World War. The government has also announced a strategy to remove the remaining undated gilts from the debt portfolio when it is deemed value for money to do so.</p><p> </p><p> </p><p> </p><p>The repayments on this debt will go to the holders of these bonds. The Treasury does not hold detailed information on the identity of organisations or individuals who own gilts, however information on sectoral holdings of gilts is published on a quarterly basis by the Office for National Statistics. The latest information on the breakdown of gilt holdings by sector, including a breakdown of non-UK resident holders of gilts by foreign central banks and other non-residents, is published by the ONS in Section 5.2.10 of its quarterly United Kingdom Economic Accounts publication.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3174 HL3176 question first answered 09/12/2014 17:41:36 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

166118

	registered interest
	date	25/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	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 20 November (HL2727), concerning debt for the First World War, when was the most recent repayment made to the United States.
	tabling member printed	Lord Laird
	uin	HL3176
	answer	answer is ministerial correction date of answer 09/12/2014 answer text <p>At the end of World War I, debt was owed between the UK and other countries. However, in 1931 President Hoover of the United States proposed a one year moratorium on all War debts, which allowed extensive international discussions on the general problems of debt repayment to be held. No satisfactory agreement was reached. In the absence of such an agreement no payments have been made to, or received from, other nations since 1934.</p><p> </p><p> </p><p> </p><p>The most recent repayment made by the UK on its debt to the US from the First World War was made in the financial year 1932-33. More specific information on the date of this payment is not available.</p><p> </p><p> </p><p> </p><p>The UK included the First World War debt to the US as part of the National Debt up until 1944-45, however all First World War debts to and from other nations are now effectively considered as having lapsed. Therefore, as explained in the answer to the original question, no arrangements have been made for repayment of the debt.</p><p> </p><p> </p><p> </p><p>In addition, the government holds eight undated gilts in its debt portfolio, three of which stem from bonds originally issued to raise money to finance the First World War.</p><p> </p><p> </p><p> </p><p>The Chancellor has announced that two of these undated gilts, 4% Consolidated Loan and 3½% War Loan, will be redeemed, on 1 February 2015 and 9 March 2015 respectively. These gilts account for some 99% of the bonds originally issued to finance the First World War. The government has also announced a strategy to remove the remaining undated gilts from the debt portfolio when it is deemed value for money to do so.</p><p> </p><p> </p><p> </p><p>The repayments on this debt will go to the holders of these bonds. The Treasury does not hold detailed information on the identity of organisations or individuals who own gilts, however information on sectoral holdings of gilts is published on a quarterly basis by the Office for National Statistics. The latest information on the breakdown of gilt holdings by sector, including a breakdown of non-UK resident holders of gilts by foreign central banks and other non-residents, is published by the ONS in Section 5.2.10 of its quarterly United Kingdom Economic Accounts publication.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3174 HL3175 question first answered 09/12/2014 17:41:36 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

167908

	registered interest
	date	04/12/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what arrangements they are making to repay outstanding debt from the First World War; and to whom the repayments will be made.
	tabling member printed	Lord Laird
	uin	HL3432
	answer	answer is ministerial correction date of answer 19/12/2014 answer text <p>The Chancellor of the Exchequer, George Osborne, announced on 3 December that the Government will redeem 3½% War Loan, thus repaying the vast majority of the nation’s First World War debt. The Chancellor also announced that the Government will adopt a strategy to remove the other remaining undated gilts in the government’s debt portfolio, some of which have origins going back to the eighteenth century, where it is deemed value for money to do so.</p><p> </p><p> </p><p> </p><p>This announcement followed the Government’s decision on 31 October to redeem the much smaller 4% Consolidated Loan, the first planned repayment of an undated gilt of this kind by government for 67 years. The Debt Management Office also announced on 17 December that 3½% Conversion Loan would be redeemed on 1 April 2015. After these redemptions, none of the £2.2bn worth of First World War debt currently in the government’s debt portfolio will remain.</p><p> </p><p> </p><p> </p><p>The Treasury will redeem the outstanding £1.9 billion of debt from 3½% War Loan on Monday 9 March 2015, and the 4% Consolidated Loan will be redeemed on 1 February 2015.</p><p> </p><p> </p><p> </p><p>The repayments on this debt will go to the holders of these bonds. The Treasury does not hold detailed information on the identity of organisations or individuals who own gilts, however information on sectoral holdings of gilts is published on a quarterly basis by the Office for National Statistics. The latest information on the breakdown of gilt holdings by sector, including a breakdown of non-UK resident holders of gilts by foreign central banks and other non-residents, is published by the ONS in Section 5.2.10 of its quarterly United Kingdom Economic Accounts publication.</p><p> </p><p> </p><p> </p><p>We are only able to take this action today thanks to the difficult decisions that this government has taken to get a grip on the public finances. The fact that we will no longer have to pay the relatively high rate of interest on these gilts means that most important of all, this decision represents great value for money for the taxpayer.</p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 19/12/2014 12:45:07 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

166088

	registered interest
	date	25/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Workplace Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they are measuring compensation levels in the investment management industry and any changes due to auto-enrolment.
	tabling member printed	Lord Mendelsohn
	uin	HL3146
	answer	answer is ministerial correction date of answer 09/12/2014 answer text <p>Compensation levels in the investment management industry are already governed by the Remuneration Code (“the Code”) which is part of the FCA Handbook. Investment firms must ensure that their remuneration policies do not encourage staff to sell inappropriate products or give rise to a conflict of interest. Firms are also required to ensure that remuneration is structured through an appropriate and suitable balance between fixed and variable compensation where the variable part is subject to forfeiture if losses or misconduct come to light after the award has been made. Firms managing funds that accept payments from auto-enrolment schemes must adhere to the Code.</p><p> </p> answering member printed Lord Deighton question first answered 09/12/2014 17:25:31 answering member 4262 label Biography information for Lord Deighton
	tabling member	4286 label Biography information for Lord Mendelsohn

178235

	registered interest
	date	05/02/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Wines: Exports
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what is their estimate of the total value of United Kingdom wine exported in each of the last five years.
	tabling member printed	Baroness Byford
	uin	HL4701
	answer	answer is ministerial correction date of answer 18/02/2015 answer text <p>HM Revenue &amp; Customs is responsible for the collection of data on UK imports and exports. From the collected trade data however, we cannot identify exports of UK produced wine.</p><p> </p><p> </p><p> </p><p>The total value of all wine exported from the UK (exports of UK produced wine and exports of wine produced elsewhere) in each of the last five years is:</p><p> </p><table><tbody><tr><td><p>Year</p></td><td><p>Value (£)</p></td><td> </td></tr><tr><td><p>2010</p></td><td><p>426,546,147</p></td><td> </td></tr><tr><td><p>2011</p></td><td><p>542,538,414</p></td><td> </td></tr><tr><td><p>2012</p></td><td><p>443,696,522</p></td><td> </td></tr><tr><td><p>2013</p></td><td><p>445,606,225</p></td><td> </td></tr><tr><td><p>2014</p></td><td><p>452,566,271</p></td><td> </td></tr><tr><td colspan="2"><p>Source: HMRC Overseas Trade Statistics</p></td><td> </td></tr><tr><td colspan="3"><p><strong>Note:</strong></p></td></tr><tr><td colspan="3"><p>1) 2014 data is subject to update</p></td></tr><tr><td colspan="3"><p>2) Data is for wine, including fortified wine (HS2204 excluding HS2204 30)</p></td></tr><tr><td colspan="3"><p>3) Trade is presented on a General Trade basis</p></td></tr><tr><td colspan="3"><p>4) EU Trade includes Below Threshold Trade Allocations (BTTAs)</p></td></tr></tbody></table><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 18/02/2015 11:42:25 answering member 4262 label Biography information for Lord Deighton
	tabling member	3343 label Biography information for Baroness Byford

228957

	registered interest
	date	23/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Welfare Tax Credits
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government how much tax credit was paid to working people of low income in each of the last three full years; what is their forecast for the current and next two years; and, for each year, what proportion of recipients were in full-time work.
	tabling member printed	Lord Hylton
	uin	HL5922
	answer	answer is ministerial correction date of answer 26/03/2015 answer text <p>The total amount of Tax Credit entitlement of recipients in each of the last three tax years can be found in Table 1.</p><p> </p><p> </p><p> </p><table><tbody><tr><td colspan="4"><p><em>£ millions</em></p></td></tr><tr><td colspan="4"><p>Table 1: Total entitlement of Tax Credit recipients</p></td></tr><tr><td><p>Year</p></td><td><p>Out-of-work</p></td><td><p>In-work</p></td><td><p>All</p></td></tr><tr><td><p>2010-11</p></td><td><p>7,606</p></td><td><p>20,936</p></td><td><p>28,542</p></td></tr><tr><td><p>2011-12</p></td><td><p>8,138</p></td><td><p>21,066</p></td><td><p>29,203</p></td></tr><tr><td><p>2012-13</p></td><td><p>8,903</p></td><td><p>19,876</p></td><td><p>28,779</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p>Figures in Table 1 are presented in £ millions, to the nearest 1 million, in line with HM Revenue and Customs publications. Breakdowns of recipients out-of-work and in-work have also been provided for context. Breakdowns of recipients in full-time employment, or otherwise, are unavailable.</p><p> </p><p><br> 2012-13 is the most recent year available for which finalised statistics have been produced.</p><p> </p><p> </p><p> </p><p>Figures have been taken from Table 1.1 of the online publication ‘Child and Working Tax Credit Statistics: Finalised Annual Awards 2012-13’.</p><p> </p><p> </p><p> </p><p>Figures providing total expenditure forecasts for Tax Credits in the current tax year, and the two following years can be found in Table 2.</p><p> </p><p> </p><p> </p><table><tbody><tr><td colspan="2"><p><em>£ billions</em></p></td></tr><tr><td colspan="2"><p>Table 2: Total expenditure forecasts of Tax Credits</p></td></tr><tr><td><p>Year</p></td><td><p>All</p></td></tr><tr><td><p>2014-15</p></td><td><p>29.7</p></td></tr><tr><td><p>2015-16</p></td><td><p>29.5</p></td></tr><tr><td><p>2016-17</p></td><td><p>29.8</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p>Figures in Table 2 are presented in £ billions, to the nearest 100 million, in line with Office for Budget Responsibility publications.</p><p> </p><p> </p><p>Breakdowns by employment status, full-time or otherwise are unavailable. These figures are taken from the ‘March 2015 Economic and Fiscal Outlook: Fiscal Supplementary Tables’ produced by the Office for Budget Responsibility and take into consideration Tax Credits as expenditure.</p><p> </p> answering member printed Lord Deighton question first answered 26/03/2015 14:08:53 answering member 4262 label Biography information for Lord Deighton
	tabling member	2018 label Biography information for Lord Hylton

175881

	registered interest
	date	27/01/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Welfare Tax Credits
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government how many tax credit recipients have received an administrative penalty relating to overpayments in each of the past four years.
	tabling member printed	Baroness King of Bow
	uin	HL4461
	answer	answer is ministerial correction date of answer 10/02/2015 answer text <p>The following table outlines the number of tax credit claims that have been subject to a penalty in each of the past four years.</p><p> </p><p> </p><p> </p><table><tbody><tr><td><p>Penalties applied in period</p></td><td><p>Tax credit claims subject to a civil penalty</p></td></tr><tr><td><p>2013-14</p></td><td><p>15,182</p></td></tr><tr><td><p>2012-13</p></td><td><p>8,020</p></td></tr><tr><td><p>2011-12</p></td><td><p>2,769</p></td></tr><tr><td><p>2010-11</p></td><td><p>1,932</p></td></tr></tbody></table><p> </p> answering member printed Lord Deighton question first answered 10/02/2015 17:44:56 answering member 4262 label Biography information for Lord Deighton
	tabling member	143 label Biography information for Baroness King of Bow

175882

	registered interest
	date	27/01/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Welfare Tax Credits
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what was the total sum of administrative penalties applied to tax credit claimants following overpayments in each of the past four years.
	tabling member printed	Baroness King of Bow
	uin	HL4462
	answer	answer is ministerial correction date of answer 09/03/2015 answer text <p>The following table outlines the sum of penalties applied to tax credits claimants in each of the past four years.</p><p> </p><p> </p><p> </p><table><tbody><tr><td><p>Penalties applied in period</p></td><td><p>Sum of civil penalties applied</p></td></tr><tr><td><p>2013-14</p></td><td><p>£28,181,587.50</p></td></tr><tr><td><p>2012-13</p></td><td><p>£13,128,383.00</p></td></tr><tr><td><p>2011-12</p></td><td><p>£4,599,135.86</p></td></tr><tr><td><p>2010-11</p></td><td><p>£1,196,988.00</p></td></tr></tbody></table><p> </p><p>An integral part of the tax credits error and fraud strategy was to ensure that claimants who negligently or deliberately sought to mislead HMRC about their circumstances would be dealt with appropriately. This led to a review of the penalty regime, which resulted in a large scale levying of penalties. This was consistent with the principles contained in the Welfare Reform Act 2012, in particular with the approach to issue tougher penalties for the most serious offences.</p><p> </p> answering member printed Lord Deighton question first answered 09/03/2015 17:56:12 answering member 4262 label Biography information for Lord Deighton
	tabling member	143 label Biography information for Baroness King of Bow