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1142431

	registered interest
	date	25/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Taxation: Electronic Government
	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 continue with the rollout of their Simple Assessment and dynamic coding projects, which were paused in May 2018.
	tabling member printed	Baroness Altmann
	uin	HL17505
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>HM Revenue &amp; Customs (HMRC) delivered Simple Assessment to a small number of customers in 2017. Due to the need to prioritise EU exit, HMRC temporarily suspended further work to extend the service to a larger number of customers. The service remains active for the original user base, and further enhancements are being made this financial year. HMRC are reviewing whether to make further investments into the service in the context of the Spending Review.</p><p> </p><p>HMRC have long had a delivery plan for the dynamic coding-out of debt project. The service was successfully introduced for a number of taxation scenarios that cause an over- or under-payment of PAYE.</p><p> </p><p>After the closure of the Making Tax Digital for Individuals Programme, which included a wider dynamic coding option, and resource reallocation to EU exit, a new IT solution was required for this Budget 2017 project. HMRC remain committed to delivering this project. Further work on the wider dynamic coding activities will be considered as part of wider Spending Review planning.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 14:08:44 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	4533 label Biography information for Baroness Altmann

1142433

	registered interest
	date	25/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	PAYE
	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 use of Real Time Information (RTI) to ensure low earners receive the tax relief they are due; and what plans they have to require all employers to use RTI.
	tabling member printed	Baroness Altmann
	uin	HL17507
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>Information filed by employers through RTI is applied equally to all relevant customer records. HM Revenue &amp; Customs (HMRC) do not make a distinction between low and high earners when applying rules within tax calculations.</p><p> </p><p>Employers who pay all of their employees under the Lower Earnings Limit for National Insurance Contributions (NICs) and have no tax deducted are not required to register with HMRC. The employer is not required to report information to HMRC until there is a tax or NICs deduction payable to HMRC.</p><p> </p><p>There are no plans to mandate employers who pay small amounts of wages to all of their employees to register with HMRC.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 13:38:40 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	4533 label Biography information for Baroness Altmann

1142436

	registered interest
	date	25/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	VAT: Tax Evasion
	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 amount lost to the Exchequer due to VAT fraud perpetrated by online traders based outside the EU; and what estimate they have made of the proportion of that fraud originating in China.
	tabling member printed	Lord Clement-Jones
	uin	HL17510
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>The information requested is not held. HM Revenue &amp; Customs (HMRC) estimate the tax gap, which encompasses fraud for VAT, excise duties and customs duty. However, it is not possible to produce these estimates for online traders based outside the EU, and for fraud originating in China. Tax gaps for VAT, excise duties and other taxes overall are provided in HMRC’s publication ‘Measuring Tax Gaps’.</p><p> </p><p>HMRC estimate that the tax loss from VAT fraud and error on online marketplaces was between £1 billion and £1.5 billion in 2016/17. The department estimates that overseas sellers contributed to approximately 60% of the VAT loss.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 13:37:53 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3396 label Biography information for Lord Clement-Jones

1142437

	registered interest
	date	25/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	VAT: Tax Evasion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what discussions they have had with the government of China in relation to addressing online VAT fraud; and what steps they are taking as a result.
	tabling member printed	Lord Clement-Jones
	uin	HL17511
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>HM Revenue &amp; Customs (HMRC) have increased their engagement with China Customs through the Fiscal Crime Liaison Officer in Beijing. The engagement is designed to tackle undervaluation fraud, including online VAT fraud, with the help of the Chinese authorities. This has included a memorandum of understanding, set up in 2018, leading to a joint working group and a series of commodity-focused exercises.</p><p> </p><p>In addition, HMRC’s primary focus in tackling the VAT issue has been with the online marketplaces through which those sellers operate, as this has proven to be an effective way of improving their compliance. The Fulfilment House Due Diligence Scheme supports this compliance activity by regulating the sites where overseas sellers store imported goods prior to their sale.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 13:38:21 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3396 label Biography information for Lord Clement-Jones

1142438

	registered interest
	date	25/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	VAT: Tax Evasion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how many penalties they have issued to online traders based outside the EU for VAT fraud; and what was the total value of such penalties.
	tabling member printed	Lord Clement-Jones
	uin	HL17512
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>The information requested is not held. HM Revenue &amp; Customs (HMRC) record the total number and amount of penalties issued to sellers based overseas who operate on online marketplaces, but do not hold separate figures for EU and non-EU sellers.</p><p> </p><p>Up to 29 July 2019, HMRC have issued VAT penalties to a total of 1,059 overseas sellers; the total penalty amount is £34,056,356.39.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 13:36:05 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3396 label Biography information for Lord Clement-Jones

1142466

	registered interest
	date	25/07/2019
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Public Buildings: Art Works
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what procedures are in place to process any complaint about the display of images of the Royal Family in publicly funded buildings; and what steps they take to determine the level of any compensation paid as a result of such a complaint.
	tabling member printed	Lord Rogan
	uin	HL17540
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>No further assessment has been made of how and where portraits of the Royal Family are displayed across the UK.</p><p>Civil Servants are free to raise concerns about any issue and should follow their departmental procedures to resolve disputes and grievances. Compensation payments are not routinely paid as part of this process.</p> answering member printed Lord Young of Cookham grouped question UIN HL17480 question first answered 06/08/2019 13:55:45 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	2478 label Biography information for Lord Rogan

1142475

	registered interest
	date	25/07/2019
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Overseas Trade
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to publish their Regional Trade Plans.
	tabling member printed	Viscount Waverley
	uin	HL17549
	answer	answer is ministerial correction date of answer 16/08/2019 answer text <p>Regional Trade Plans (RTPs), set out an overseas region’s overarching strategy, key objectives and priorities, which will drive the delivery of Her Majesty’s Government’s trade objectives overseas. Currently, the RTPs are internal documents, but the Department for International Trade intends to publish executive summaries of the RTPs in due course.</p> answering member printed Lord Young of Cookham question first answered 16/08/2019 10:52:52 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1744 label Biography information for Viscount Waverley

1141932

	registered interest
	date	24/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lendy
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps they took to stop Lendy from declaring dividends to pay capital to that firm’s owners when Lendy was under review by the Financial Conduct Authority (FCA); and whether the FCA intends to compensate any lenders who did not receive full remediation payments as a result of a shortfall in capital.
	tabling member printed	Lord Myners
	uin	HL17476
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>The Financial Conduct Authority (FCA) is responsible for the authorisation and regulation of peer to peer (P2P) platforms, and is currently carrying out an enforcement investigation into the circumstances that led to the administration of Lendy. It would be inappropriate for Government to pre-empt its findings.</p><p> </p><p>The FCA is operationally independent from Government. The question as it relates to the FCA 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 Young of Cookham question first answered 06/08/2019 13:36:33 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141933

	registered interest
	date	24/07/2019
	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, if any, they have made of the case for specifying a higher liquidity test for UK-managed Undertakings for Collective Investment in Transferable Securities than is required by EU Directive 2009/65/EC; and what discussions they have had with the Financial Conduct Authority about that test.
	tabling member printed	Lord Myners
	uin	HL17477
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>Following the suspension of the Woodford Equity Income Fund (WEIF), HM Treasury has discussed the liquidity rules for UK UCITS funds with the Financial Conduct Authority (FCA), which is responsible for the ongoing supervision and regulation of the UK’s financial services sector, including investment funds.</p><p> </p><p>The FCA have launched an investigation into the events leading up to the suspension of the WEIF. The investigation will determine the facts of the case, including whether any rules have been broken, and inform any future decision on whether rule changes are required.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 13:37:13 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141934

	registered interest
	date	24/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Banks: Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they or the Prudential Regulation Authority monitor loans by smaller banks to related parties; and what assessment, if any, they have made of how Wyelands Bank complies in this respect with regulatory limits.
	tabling member printed	Lord Myners
	uin	HL17478
	answer	answer is ministerial correction date of answer 06/08/2019 answer text This is a matter for the Prudential Regulation Authority (PRA), which is operationally independent from Government. The question has been passed on to the PRA. The PRA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House. answering member printed Lord Young of Cookham question first answered 06/08/2019 13:37:27 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141936

	registered interest
	date	24/07/2019
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Public Buildings: Art Works
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answers by Lord Duncan of Springbank on 15 July (HL17173, HL17174, and HL17175), what assessment they have made of the displaying of portraits of the Royal Family in publicly funded buildings in all four nations of the UK.
	tabling member printed	Lord Rogan
	uin	HL17480
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>No further assessment has been made of how and where portraits of the Royal Family are displayed across the UK.</p><p>Civil Servants are free to raise concerns about any issue and should follow their departmental procedures to resolve disputes and grievances. Compensation payments are not routinely paid as part of this process.</p> answering member printed Lord Young of Cookham grouped question UIN HL17540 question first answered 06/08/2019 13:55:45 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	2478 label Biography information for Lord Rogan

1141516

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insolvency
	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 impact that the proposal to make HMRC a secondary preferential creditor in insolvencies may have on business rescue support in the UK from April 2020.
	tabling member printed	Baroness Burt of Solihull
	uin	HL17384
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business’s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.</p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.</p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK’s ranking in the World Bank’s annual “Doing Business” report.</p><p>Consistent with the Government’s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.</p> answering member printed Lord Young of Cookham grouped question UIN HL17385 HL17386 HL17387 question first answered 06/08/2019 13:34:00 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1567 label Biography information for Baroness Burt of Solihull

1141517

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insolvency
	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 impact that their proposal to make HMRC a secondary preferential creditor in insolvencies will have on the UK’s ranking in the World Bank’s annual "Doing Business" report.
	tabling member printed	Baroness Burt of Solihull
	uin	HL17385
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business’s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.</p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.</p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK’s ranking in the World Bank’s annual “Doing Business” report.</p><p>Consistent with the Government’s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.</p> answering member printed Lord Young of Cookham grouped question UIN HL17384 HL17386 HL17387 question first answered 06/08/2019 13:34:00 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1567 label Biography information for Baroness Burt of Solihull

1141518

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government why HM Treasury has decided to not introduce a cap on the age of tax debts which will be eligible for secondary preferential status in insolvencies from April 2020; and what assessment they have made of the impact of this decision on the costs of insolvency procedures and business lending.
	tabling member printed	Baroness Burt of Solihull
	uin	HL17386
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business’s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.</p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.</p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK’s ranking in the World Bank’s annual “Doing Business” report.</p><p>Consistent with the Government’s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.</p> answering member printed Lord Young of Cookham grouped question UIN HL17384 HL17385 HL17387 question first answered 06/08/2019 13:34:00 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1567 label Biography information for Baroness Burt of Solihull

1141519

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government why HM Treasury has decided that existing lending will not be exempted from their policy of making HMRC a secondary preferential creditor in insolvencies; and what assessment they have made of the impact of this decision on the continued availability of existing business lending.
	tabling member printed	Baroness Burt of Solihull
	uin	HL17387
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business’s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.</p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.</p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK’s ranking in the World Bank’s annual “Doing Business” report.</p><p>Consistent with the Government’s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.</p> answering member printed Lord Young of Cookham grouped question UIN HL17384 HL17385 HL17386 question first answered 06/08/2019 13:34:00 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1567 label Biography information for Baroness Burt of Solihull

1141550

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Conduct Authority
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what tests they apply to determine whether an investigation into the Financial Conduct Authority (FCA) meets the standard required to be described as independent of the FCA; and what assessment they have made of whether FCA employees acting for an investigation compromises its independence.
	tabling member printed	Lord Myners
	uin	HL17418
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>Where such investigations are conducted, HM Treasury take steps to ensure their independence which is crucial to the integrity of their conclusions. For example, in the recent case of the events surrounding the failure of London Capital &amp; Finance plc (LCF), and following a request from the Financial Conduct Authority (FCA), the Economic Secretary to the Treasury required that an independent investigation be carried out under powers in section 77 of the Financial Services Act 2012.</p><p> </p><p>The Economic Secretary approved the appointment of Dame Elizabeth Gloster, an experienced QC and Judge at the High Court and Court of Appeal, to lead it. Prior to this approval, potential conflicts of interest were investigated and HM Treasury is satisfied that Dame Elizabeth is independent from the FCA, HM Treasury and the companies and individuals associated with LCF’s failure.</p><p> </p><p>Under the terms of the Economic Secretary’s Direction to the FCA, Dame Elizabeth has the discretion to appoint a team which is entirely independent of the FCA. A process is now underway to appoint an independent legal team to support Dame Elizabeth in her investigation. The FCA is also under a duty to facilitate the disclosure to Dame Elizabeth any information that she deems relevant to the scope of her investigation. Should Dame Elizabeth wish to raise any matters directly to HM Treasury, she can do so at any time, under the terms of the Direction, via an interim report.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 13:32:53 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141551

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Institutions: Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they have identified any features in common in the cases of London Capital and Finance, Lendy Limited and Collateral (UK) Limited that require a change in regulation, law or process.
	tabling member printed	Lord Myners
	uin	HL17419
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>London Capital and Finance plc (LCF) are a firm that issued mini-bonds, that entered administration on 30 January 2018. On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at LCF, and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it.</p><p> </p><p>Lendy Limited and Collateral (UK) Limited are peer to peer (P2P) platforms authorised by the FCA and subject to FCA rules.</p><p> </p><p>The operationally independent FCA’s investigation into the circumstances that led to the administration of Lendy is ongoing, and it would be inappropriate for Government to pre-empt its findings, or that of the investigation of the events at LCF.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 13:34:42 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141552

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Collateral (UK)
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government when they first became aware that Collateral (UK) Limited was acting without authorisation from the Financial Conduct Authority (FCA); and why that company was allowed to take new client money without advising clients that the firm was not authorised by the FCA.
	tabling member printed	Lord Myners
	uin	HL17420
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>The Government monitors the development of the peer to peer (P2P) sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector. This requires platforms to be authorised by the FCA and subject to FCA rules governing, among other areas, how they handle client money and promote themselves to consumers, and capital requirements.</p><p> </p><p>The regulatory status of Collateral (UK) Ltd, and the events which led to its register entry appearing to show that it held an interim permission, when it did not, are matters the FCA is investigating as they may involve fraud or misconduct by persons connected with the firm who may have misused the register. In order to avoid prejudicing any proceedings which may arise from the investigation, the FCA are unable to provide further details of how they believe the change to the register came about.</p><p> </p><p>The Financial Conduct Authority (FCA) is operationally independent from Government. These questions relate to the FCA and have been passed on to them. 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 Young of Cookham grouped question UIN HL17421 HL17422 HL17423 question first answered 06/08/2019 13:35:40 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141553

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Collateral (UK)
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they or the Financial Conduct Authority (FCA) have investigated the change of name on the FCA register of authorised parties of Regal Pawnbrokers Limited to Collateral (UK) Limited; whether they identified any concerns about that change in respect of Collateral (UK) Limited; and if so, when.
	tabling member printed	Lord Myners
	uin	HL17421
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>The Government monitors the development of the peer to peer (P2P) sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector. This requires platforms to be authorised by the FCA and subject to FCA rules governing, among other areas, how they handle client money and promote themselves to consumers, and capital requirements.</p><p> </p><p>The regulatory status of Collateral (UK) Ltd, and the events which led to its register entry appearing to show that it held an interim permission, when it did not, are matters the FCA is investigating as they may involve fraud or misconduct by persons connected with the firm who may have misused the register. In order to avoid prejudicing any proceedings which may arise from the investigation, the FCA are unable to provide further details of how they believe the change to the register came about.</p><p> </p><p>The Financial Conduct Authority (FCA) is operationally independent from Government. These questions relate to the FCA and have been passed on to them. 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 Young of Cookham grouped question UIN HL17420 HL17422 HL17423 question first answered 06/08/2019 13:35:40 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141554

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Collateral (UK)
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether any action was taken to protect (1) documents of, and (2) client money in, Collateral (UK) Limited when they were made aware that that firm was acting without the authorisation of the Financial Conduct Authority; and if not, why not.
	tabling member printed	Lord Myners
	uin	HL17422
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>The Government monitors the development of the peer to peer (P2P) sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector. This requires platforms to be authorised by the FCA and subject to FCA rules governing, among other areas, how they handle client money and promote themselves to consumers, and capital requirements.</p><p> </p><p>The regulatory status of Collateral (UK) Ltd, and the events which led to its register entry appearing to show that it held an interim permission, when it did not, are matters the FCA is investigating as they may involve fraud or misconduct by persons connected with the firm who may have misused the register. In order to avoid prejudicing any proceedings which may arise from the investigation, the FCA are unable to provide further details of how they believe the change to the register came about.</p><p> </p><p>The Financial Conduct Authority (FCA) is operationally independent from Government. These questions relate to the FCA and have been passed on to them. 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 Young of Cookham grouped question UIN HL17420 HL17421 HL17423 question first answered 06/08/2019 13:35:40 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141555

	registered interest
	date	23/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Collateral (UK)
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they were aware that Collateral (UK) Limited advertised itself as having interim authorisation from the Financial Conduct Authority (FCA) when this was not the case; whether the FCA has taken any action against that firm, its shareholders or directors; and what assessment they have made of whether that firm continued to raise money from investors after the Government were made aware of it falsifying its authorisation.
	tabling member printed	Lord Myners
	uin	HL17423
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>The Government monitors the development of the peer to peer (P2P) sector and engages regularly with P2P platforms and the Financial Conduct Authority (FCA), who are responsible for the regulation of the sector. This requires platforms to be authorised by the FCA and subject to FCA rules governing, among other areas, how they handle client money and promote themselves to consumers, and capital requirements.</p><p> </p><p>The regulatory status of Collateral (UK) Ltd, and the events which led to its register entry appearing to show that it held an interim permission, when it did not, are matters the FCA is investigating as they may involve fraud or misconduct by persons connected with the firm who may have misused the register. In order to avoid prejudicing any proceedings which may arise from the investigation, the FCA are unable to provide further details of how they believe the change to the register came about.</p><p> </p><p>The Financial Conduct Authority (FCA) is operationally independent from Government. These questions relate to the FCA and have been passed on to them. 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 Young of Cookham grouped question UIN HL17420 HL17421 HL17422 question first answered 06/08/2019 13:35:40 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	3869 label Biography information for Lord Myners

1141563

	registered interest
	date	23/07/2019
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Trade Agreements: Canada
	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 impact of a reduction in import tariffs on a post-Brexit trade deal between the UK and Canada.
	tabling member printed	Lord Taylor of Warwick
	uin	HL17431
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>We are working to transition existing EU trade agreements, including CETA, into bilateral deals as the UK leaves the EU. We continue to engage Canada to seek to achieve this at the earliest opportunity, and both sides are committed to a strong trading relationship moving forwards.</p><p> </p><p>If the UK leaves the EU without a deal, the UK will implement a temporary tariff which aims to minimise costs to business and mitigate price impacts on consumers. However, this will be temporary, applying for up to 12 months. It is not the basis for a long-term preferential trading relationship - transition of CETA remains the best foundation for the UK’s future trading relationship with Canada.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 14:23:50 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1141167

	registered interest
	date	22/07/2019
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Trade Promotion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Viscount Younger of Leckie on 17 July (HL16983), what are the job descriptions of each Trade Envoy; whether any assessment has been made of their effectiveness in relation to the terms of their appointment; and whether those envoys are accountable to (1) the Prime Minister, (2) the Secretary of State for International Trade, (3) the Foreign Secretary, or (4) another Cabinet minister.
	tabling member printed	Lord Grocott
	uin	HL17350
	answer	answer is ministerial correction date of answer 16/08/2019 answer text <p>The Terms of Appointment for the Programme provide the framework to which Trade Envoys work to. They outline Trade Envoys’ roles and responsibilities when undertaking Trade Envoy duties, as well as outlining the Department for International Trade commitment to them. Under the Terms of Appointment, they are appointed for the term of a parliament, after which the sitting Prime Minister will decide whether to keep the current cadre in their role.</p><p> </p><p>Trade Envoys regularly help UK business secure export successes, by either lobbying on their behalf, or helping to create the environment for them to succeed.</p><p> </p><p>Trade Envoys are appointed by the Prime Minister and are ultimately accountable to the Prime Minister, though they regularly report specific issues to other Ministers as necessary.</p> answering member printed Lord Young of Cookham question first answered 16/08/2019 10:53:13 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	276 label Biography information for Lord Grocott

1141168

	registered interest
	date	22/07/2019
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Trade Promotion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Viscount Younger of Leckie on 17 July (HL16983), whether the Trade Envoys are answerable to Parliament either (1) directly, (2) via a minister, or (3) not at all.
	tabling member printed	Lord Grocott
	uin	HL17351
	answer	answer is ministerial correction date of answer 16/08/2019 answer text <p>Trade Envoys comprised of parliamentarians drawn from both Houses are answerable to Parliament via direct line of report to my Rt. Hon. Friend the Secretary of State for International Trade who is accountable for the programme.</p><p> </p><p>Although the Trade Envoy role is not a ministerial appointment and does not carry formal policy responsibility the Trade Envoys are under the same obligation as Ministers to adhere to the relevant departmental restrictions, guidelines and confidentiality clauses.</p> answering member printed Lord Young of Cookham question first answered 16/08/2019 10:53:28 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	276 label Biography information for Lord Grocott

1141169

	registered interest
	date	22/07/2019
	answering body	Department for International Trade
	answering dept id	202
	answering dept short name	International Trade
	answering dept sort name	International Trade
	hansard heading	Trade Promotion
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Viscount Younger of Leckie on 17 July (HL16983), what has been the total cost of the Trade Envoy system since 2012 including staffing support and travel costs.
	tabling member printed	Lord Grocott
	uin	HL17352
	answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>Since the Programme was launched in November 2012 the cumulative cost of travel and subsistence has been £848,962.</p><p> </p><p>Accurate staffing support figures for the programme are not available as the programme pre-dates the formation of the Department and has changed as the programme has evolved.</p><p> </p><p>For 2018/19 the programme’s staffing costs were approximately £551,000. This is based on the average salary costs for the current staffing level.</p> answering member printed Lord Young of Cookham question first answered 06/08/2019 14:24:05 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	276 label Biography information for Lord Grocott