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100015

	registered interest
	date	20/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Trade with EU
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether, in the light of the risk of the Eurozone returning to recession and the statement by the Chancellor of Exchequer that Britain could not be immune from any such event, they plan to encourage industry and commerce to diversify their markets and reduce their reliance on the European Union market.
	tabling member printed	Lord Stoddart of Swindon
	uin	HL2230
	answer	answer is ministerial correction date of answer 03/11/2014 answer text <p>We have to recognise that the UK is not immune to problems elsewhere in the world. The UK has one of the most open economies in the world through trade and financial channels. In particular, growth in the euro area – our largest trading partner – is weak and we have to expect that to dampen our own recovery.</p><p> </p><p> </p><p> </p><p>Since entering office, this Government has worked consistently towards a rebalancing of the UK economy and growing our trade with all parts of the world, including key emerging markets. Since 2010, for example, UKTI has increased the number of its overseas-based staff working outside the EU from 875 to 1060, reflecting the growing priority being given to non-EU markets; and, excluding aircraft, nearly all of the exports supported by UK Export Finance in recent years have been to markets outside the EU. Ministers continue to take an active role, including through the Chancellor-led annual Economic and Financial Dialogues with India and China, the most recent of which secured £2.4 billion in bilateral investment deals.</p><p> </p> answering member printed Lord Deighton question first answered 03/11/2014 17:17:00 answering member 4262 label Biography information for Lord Deighton
	tabling member	950 label Biography information for Lord Stoddart of Swindon

93430

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Workplace Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what estimate they have made of how many individuals in defined contribution funded public sector pension schemes will withdraw their entire accrued entitlements under the new Freedom and Choice for Pensioner arrangements in the first year from April 2015, and at what cost.
	tabling member printed	Lord Laird
	uin	HL2096
	answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2097 HL2098 HL2099 question first answered 29/10/2014 15:20:53 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

93431

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Workplace Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they consider that delaying transfer payments and reducing transfer values are sufficient safeguards to stabilise public sector funded pension schemes threatened by large-scale withdrawals under the new Freedom and Choice for Pensioners arrangements.
	tabling member printed	Lord Laird
	uin	HL2097
	answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2096 HL2098 HL2099 question first answered 29/10/2014 15:20:53 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

93432

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Workplace Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether, under their proposed entire pension withdrawal arrangements, they will include in the legislation a power to suspend the concession for such schemes in the event of serious destabilisation of funded public service pension schemes or extreme cost to the Exchequer.
	tabling member printed	Lord Laird
	uin	HL2098
	answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2096 HL2097 HL2099 question first answered 29/10/2014 15:20:54 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

93433

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Workplace Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what is the key difference between trust-based and contract-based public sector defined contribution schemes in relation to the proposed pension withdrawal arrangements; and what was the result of their consultation with the Local Government Pension Scheme on extra safeguards for such trust-based schemes.
	tabling member printed	Lord Laird
	uin	HL2099
	answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2096 HL2097 HL2098 question first answered 29/10/2014 15:20:54 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

93434

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Northern Ireland
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether and how the new Freedom and Choice for Pensioners arrangements will apply to Northern Ireland; and whether they have discussed the matter of a legislative consent motion with the Northern Ireland Executive.
	tabling member printed	Lord Laird
	uin	HL2100
	answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The tax changes necessary to deliver the Freedom and Choice in Pensions agenda are contained in the Taxation of Pensions Bill. The provisions in this Bill will apply across the UK as the relevant tax legislation is not, in the main, a matter over which powers have been devolved.<sup>[</sup><sup>1]</sup> The Pension Schemes Bill is being used to introduce further changes relevant to the Freedom and Choice agenda. Where these do relate to devolved matters in Northern Ireland, the Government is in the process of obtaining the necessary legislative consent motion and approval from the Northern Ireland Assembly.</p><p> </p><p> </p><p>[1] Explanatory notes for the Taxation of Pensions Bill were published on the Parliament Website. Territorial extent is detailed in paragraph 52 http://www.publications.parliament.uk/pa/bills/cbill/2014-2015/0097/en/15097en.htm</p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 29/10/2014 15:21:46 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

93704

	registered interest
	date	15/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	North Sea Oil
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what is the total revenue they have received from the extraction and exploration of North Sea oil.
	tabling member printed	Lord Hodgson of Astley Abbotts
	uin	HL2133
	answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>Government revenues from UK oil and gas production for all years to 2013-14 are published by HM Revenue &amp; Customs (HMRC) as National Statistics on the GOV.UK website[1]. Total revenues can be found in Table 11.11 from the <em>Statistics of Government revenues from UK oil and gas production</em> publication[2].</p><p> </p><p> </p><p> </p><p>The values in Table 11.11 are detailed in current prices, so for previous years they do not reflect the value of total revenue today. The total revenue received from the extraction and exploration of North Sea oil is £187.8 billion in current prices.</p><p> </p><p> </p><p>[1] https://www.gov.uk/government/collections/petroleum-revenue-tax-prt-and-government-revenues-from-uk-oil-and-gas-production</p><p>[2] <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/306225/140424_Table_11_11.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/306225/140424_Table_11_11.pdf</a></p><p> </p> answering member printed Lord Deighton question first answered 29/10/2014 15:24:02 answering member 4262 label Biography information for Lord Deighton attachment 1 file name t11.11 gov revenue.docx title Government revenues from oil and gas production
	tabling member	1651 label Biography information for Lord Hodgson of Astley Abbotts

93478

	registered interest
	date	15/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Construction: Industry
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he plans to take to help businesses in the construction sector outside London.
	tabling member constituency	South Antrim
	tabling member printed	Dr William McCrea
	uin	210830
	answer	answer is ministerial correction date of answer 23/10/2014 answer text <p>I am replying on the behalf of the Department for Business, Innovation and Skills. The Government is actively working to help all construction firms including those outside London. We are working with the industry to remove barriers to growth by improving the planning system and access to finance, and easing the burden of regulation.</p><p> </p><p> </p><p> </p><p>On the demand side, we are stimulating the house building industry - in Autumn Statement 2013 my Rt Hon Friend the Chancellor of the Exchequer announced a £1bn extension of the Local Infrastructure Fund for large scale housing sites, to unlock around 250,000 homes over 6 years. We are also stimulating infrastructure development. The National Infrastructure Plan (NIP) sets a strategic vision for forthcoming infrastructure needs. It has identified a pipeline of over 500 projects costing around £250bn to 2015 and beyond.</p><p> </p><p> </p><p> </p><p>On the supply side, we are working closely with the Construction Leadership Council to ensure that the industry is well placed to respond to growing markets, tackling issues such as skills, innovation, sustainability, productivity, efficiency and export performance.</p><p> </p> answering member constituency Grantham and Stamford answering member printed Nick Boles question first answered 23/10/2014 15:11:11 answering member 3995 label Biography information for Nick Boles
	tabling member	655 label Biography information for Lord McCrea of Magherafelt and Cookstown

101043

	registered interest
	date	27/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Private Finance Initiative
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many private finance initiative projects his Department contracted for in each year from 1997 to 2010.
	tabling member constituency	Brighton, Kemptown
	tabling member printed	Simon Kirby
	uin	212105
	answer	answer is ministerial correction date of answer 30/10/2014 answer text <p>The Treasury holds one PFI contract, GOGGS West, which was entered into on 1<sup>st</sup> May 2000. Information on all PFI projects can be found on the following link, <a href="https://www.gov.uk/government/publications/private-finance-initiative-projects-2013-summary-data" target="_blank">https://www.gov.uk/government/publications/private-finance-initiative-projects-2013-summary-data</a>.</p><p> </p><p> </p><p> </p><p>The current projects spreadsheet can be filtered by procuring authority and then by date of financial close in order to determine the number of projects contracted by a department in a particular year.</p><p> </p><p> </p><p> </p><p>The information in this spreadsheet is provided by departments and published by the Treasury each year. The current data is at 31 March 2013 but will be updated with information as a 31 March 2014 shortly.</p><p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 30/10/2014 16:43:21 answering member 1535 label Biography information for Danny Alexander
	tabling member	3929 label Biography information for Simon Kirby

93468

	registered interest
	date	15/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Economic Policy: Northern Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent discussions he has had with the Northern Ireland Executive regarding his long-term economic plan.
	tabling member constituency	South Antrim
	tabling member printed	Dr William McCrea
	uin	210815
	answer	answer is ministerial correction date of answer 22/10/2014 answer text <p>Treasury Ministers and officials have regular discussions with Northern Ireland Executive Ministers and officials on a wide variety of topics.</p><p> </p><p> </p><p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 22/10/2014 15:46:06 answering member 1535 label Biography information for Danny Alexander
	tabling member	655 label Biography information for Lord McCrea of Magherafelt and Cookstown