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 question first answered answering member label attachment file name title
tabling member	label

Search

1197888

	registered interest
	date	21/05/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government which (1) department, (2) executive agency, (3) board, (4) court, or (5) other body, is responsible for ensuring that the Bank of England’s independence is not compromised through the financing of UK Government debt.
	tabling member printed	Lord Myners
	uin	HL4853
	answer	answer is ministerial correction date of answer 03/06/2020 answer text <p>The Bank of England (the Bank) has statutory responsibilities for monetary policy and financial stability, and independence from the government to carry out these responsibilities as enshrined in the Bank of England Act (1998). The Bank is accountable to both the public and to Parliament, through scrutiny by the Treasury Committee.</p><p> </p><p>The remit of the independent Monetary Policy Committee (MPC) is set by the Chancellor, and is reaffirmed annually through an exchange of open letters with the Governor of the Bank.</p><p> </p><p>The separation of monetary and fiscal policy is a key pillar of the government’s macroeconomic framework. As such, the responsibility for financing the government’s needs was transferred from the Bank to the UK’s Debt Management Office (DMO), an executive agency of HM Treasury, in 1998. The Treasury sets the DMO’s objective for debt management independently of monetary policy.</p><p> </p> answering member printed Lord Agnew of Oulton question first answered 03/06/2020 16:22:14 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3869 label Biography information for Lord Myners

1351671

	registered interest
	date	18/08/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what proportions of UK national debt were owned by (1) UK households, (2) the Bank of England, (3) overseas purchasers, (4) banks and financial houses, and (5) insurance and pension funds, in (a) 2017, (b) 2018, (c) 2019, (d) 2020, and (e) 2021.
	tabling member printed	Lord Eatwell
	uin	HL2345
	answer	answer is ministerial correction date of answer 01/09/2021 answer text <p>Most of the Government’s debt is in the form of publicly traded bonds (‘gilts’). The data most recently published on the website of the Debt Management Office (DMO) covering the distribution of gilt holdings are set out in the table below:</p><p> </p><table><tbody><tr><td><p> </p></td><td><p>UK households</p></td><td><p>The Bank of England</p></td><td><p>Overseas holdings</p></td><td><p>Banks and other financial institutions</p></td><td><p>Insurance and pension funds</p></td></tr><tr><td><p>End-2017</p></td><td><p>0.2%</p></td><td><p>24.4%</p></td><td><p>27.9%</p></td><td><p>16.0%</p></td><td><p>31.2%</p></td></tr><tr><td><p>End-2018</p></td><td><p>0.2%</p></td><td><p>23.8%</p></td><td><p>28.3%</p></td><td><p>15.8%</p></td><td><p>31.5%</p></td></tr><tr><td><p>End-2019</p></td><td><p>0.2%</p></td><td><p>23.4%</p></td><td><p>30.1%</p></td><td><p>13.3%</p></td><td><p>32.8%</p></td></tr><tr><td><p>End-2020</p></td><td><p>0.2%</p></td><td><p>31.6%</p></td><td><p>28.2%</p></td><td><p>12.0%</p></td><td><p>27.9%</p></td></tr><tr><td><p>Q1 2021</p></td><td><p>0.2%</p></td><td><p>32.5%</p></td><td><p>27.6%</p></td><td><p>11.1%</p></td><td><p>28.4%</p></td></tr></tbody></table><p> </p> answering member printed Lord Agnew of Oulton question first answered 01/09/2021 13:15:30 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	2802 label Biography information for Lord Eatwell

1351672

	registered interest
	date	18/08/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what was the average duration of UK national debt in (1) 2017, (2) 2018, (3) 2019, (4) 2020, and (5) 2021.
	tabling member printed	Lord Eatwell
	uin	HL2346
	answer	answer is ministerial correction date of answer 01/09/2021 answer text <p>Most of the Government’s debt is in the form of publicly traded bonds (‘gilts’). The average maturity of the stock of total gilts was 15.8 years at both end-December 2017 and end-December 2018, 15.9 years at end-December 2019, and 15.3 years at end-December 2020. By end-July 2021, the average maturity of the stock of total gilts had fallen to 15.2 years.</p> answering member printed Lord Agnew of Oulton question first answered 01/09/2021 13:14:08 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	2802 label Biography information for Lord Eatwell

177964

	registered interest
	date	04/02/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what is the annual cost (1) per taxpayer, and (2) per household, of servicing the United Kingdom national debt.
	tabling member printed	Lord Vinson
	uin	HL4675
	answer	answer is ministerial correction date of answer 13/02/2015 answer text <p>In 2013 central government debt interest payments were £49.1 billion. Using the relevant household and population numbers the annual cost of servicing the national debt in 2013 was:</p><p> </p><p> </p><p> </p><ol><li><p>£1,841 per household; and</p><p> </p></li><li><p>£766 per person.</p></li></ol><p> </p> answering member printed Lord Deighton question first answered 13/02/2015 15:36:44 answering member 4262 label Biography information for Lord Deighton
	tabling member	1807 label Biography information for Lord Vinson

384505

	registered interest
	date	22/06/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what is their assessment of recent research by the Taxpayers' Alliance indicating that the United Kingdom's true national debt is £8.6 trillion.
	tabling member printed	Lord Stoddart of Swindon
	uin	HL716
	answer	answer is ministerial correction date of answer 06/07/2015 answer text <p>According to the latest <em>Public Sector Finances</em> release (May 2015) produced by the Office for National Statistics (ONS), Public Sector Net Debt (PSND) stands at £1.5 trillion. This is the government’s usual measure of debt, and the measure on the basis of which the official forecasts from the Office for Budget Responsibility (OBR) are produced.</p><p> </p><p>The number quoted by the Taxpayers’ Alliance includes many future and government liabilities not generally included in debt figures and it does not include corresponding future assets, physical assets, illiquid financial assets or future revenues.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 06/07/2015 16:44:24 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	950 label Biography information for Lord Stoddart of Swindon

417886

	registered interest
	date	09/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government, for each year from 2003–4 to 2014–15 inclusive, (1) what was the national debt, expressed in (a) monetary terms, and (b) as a percentage of gross domestic product, and (2) what interest was paid on that debt, expressed in (a) monetary terms, and (b) in per capita terms.
	tabling member printed	Lord Kinnock
	uin	HL2119
	answer	answer is ministerial correction date of answer 23/09/2015 answer text <p>In 2010 the coalition government inherited a deficit of 10.2 per cent of gross domestic product (GDP) – the largest since the Second World War. With such a high deficit, it is inevitable that debt has continued to rise. Over the last parliament the government made substantial progress towards stabilising the public finances, halving the deficit from its post-war peak to 5 per cent of GDP in 2014-15. The Office for Budget Responsibility have forecast that debt as a percentage of GDP peaked in 2014/15, and this year will fall for the first time in 14 years as a result of the government’s actions.</p><p> </p><p> </p><p> </p><p>The table below provides Public Sector Net Debt (excluding public sector banks) and debt interest expenditure figures for each year in the period 2003/04 to 2014/15. For net debt, the figures are provided in both nominal terms and as a percentage of GDP; for debt interest, the figures are given in nominal terms and pounds sterling per capita.</p><p> </p><p> </p><p> </p><p> </p><p> </p><table><tbody><tr><td> </td><td colspan="2"><p>Public Sector Net Debt<sup>1</sup></p></td><td colspan="2"><p>Debt Interest<sup>2</sup></p></td></tr><tr><td> </td><td><p>£ billion</p></td><td><p>% of GDP</p></td><td><p>£ billion</p></td><td><p>£ per capita</p></td></tr><tr><td><p>2003/04</p></td><td><p>394.2</p></td><td><p>31.8</p></td><td><p>22.0</p></td><td><p>367</p></td></tr><tr><td><p>2004/05</p></td><td><p>449.2</p></td><td><p>34.4</p></td><td><p>24.6</p></td><td><p>407</p></td></tr><tr><td><p>2005/06</p></td><td><p>492.0</p></td><td><p>35.5</p></td><td><p>26.3</p></td><td><p>432</p></td></tr><tr><td><p>2006/07</p></td><td><p>529.3</p></td><td><p>36.2</p></td><td><p>28.6</p></td><td><p>466</p></td></tr><tr><td><p>2007/08</p></td><td><p>561.5</p></td><td><p>36.9</p></td><td><p>31.2</p></td><td><p>505</p></td></tr><tr><td><p>2008/09</p></td><td><p>727.7</p></td><td><p>49.2</p></td><td><p>31.5</p></td><td><p>506</p></td></tr><tr><td><p>2009/10</p></td><td><p>959.8</p></td><td><p>62.2</p></td><td><p>31.6</p></td><td><p>503</p></td></tr><tr><td><p>2010/11</p></td><td><p>1102.5</p></td><td><p>68.8</p></td><td><p>46.6</p></td><td><p>736</p></td></tr><tr><td><p>2011/12</p></td><td><p>1192.0</p></td><td><p>72.3</p></td><td><p>49.7</p></td><td><p>780</p></td></tr><tr><td><p>2012/13</p></td><td><p>1300.0</p></td><td><p>76.8</p></td><td><p>48.9</p></td><td><p>762</p></td></tr><tr><td><p>2013/14</p></td><td><p>1403.2</p></td><td><p>79.1</p></td><td><p>48.7</p></td><td><p>753</p></td></tr><tr><td><p>2014/15</p></td><td><p>1486.5</p></td><td><p>80.8</p></td><td><p>45.2</p></td><td><p>696</p></td></tr><tr><td colspan="5"><p>1: Excluding public sector banks; by convention, GDP is a 12 month average centred at the financial year end. Source: ONS.</p></td></tr><tr><td colspan="5"><p>2: The per capita figure is calculated by dividing debt interest in £'s by the ONS estimate of the size of the UK population at the financial year end. Note that the population estimate for 2014/15 is a forecast, based on the latest ONS projections. Source: ONS.</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bridges of Headley question first answered 23/09/2015 15:34:52 answering member 4535 label Biography information for Lord Bridges of Headley
	tabling member	693 label Biography information for Lord Kinnock

444465

	registered interest
	date	13/01/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what debt, if any, they have that dates from before 1 January 1901; and what are the arrangements for payment of that debt.
	tabling member printed	Lord Laird
	uin	HL5016
	answer	answer is ministerial correction date of answer 27/01/2016 answer text <p>The government has redeemed all gilts issued before 1 January 1901. On 5 July 2015, the government redeemed all outstanding undated gilts, some of which pre-dated 1901. These were the 2½% Annuities, 2¾% Annuities and 2½% Consolidated Stock, first issued in 1853, 1884 and 1888 respectively.</p> answering member printed Lord O'Neill of Gatley question first answered 27/01/2016 16:23:57 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	2479 label Biography information for Lord Laird

533032

	registered interest
	date	05/07/2016
	answering body	Foreign and Commonwealth Office
	answering dept id	16
	answering dept short name	Foreign and Commonwealth Office
	answering dept sort name	Foreign and Commonwealth Office
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what steps they are taking to encourage Gulf States to accept Syrian asylum seekers.
	tabling member printed	Lord Roberts of Llandudno
	uin	HL996
	answer	answer is ministerial correction date of answer 13/07/2016 answer text We recognise and welcome the substantial and continued contribution made by Gulf Cooperation Council (GCC) states to the humanitarian aid response for Syria and the large numbers of Syrians already in the Gulf. The Gulf states are now home to almost one million Syrians, and Gulf states have pledged more than $3 billion in humanitarian assistance. Kuwait co-hosted the London Donor Conference in February 2016 where Gulf states pledged $739 million. answering member printed Baroness Anelay of St Johns question first answered 13/07/2016 15:15:45 answering member 3474 label Biography information for Baroness Anelay of St Johns
	tabling member	3691 label Biography information for Lord Roberts of Llandudno

621163

	registered interest
	date	25/10/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what steps they are taking to reduce the UK’s national debt.
	tabling member printed	Lord Taylor of Warwick
	uin	HL2680
	answer	answer is ministerial correction date of answer 07/11/2016 answer text <p>The government has already reduced the annual deficit by almost two-thirds from 10.1% of GDP in 2009-10 to 4% of GDP in 2015-16. However, at 84% of GDP last year, Public Sector Net Debt remains too high. The government will set out its plan to ensure long-term fiscal sustainability at Autumn Statement on 23<sup>rd</sup> November.</p> answering member printed Lord Young of Cookham question first answered 07/11/2016 14:22:01 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1796 label Biography information for Lord Taylor of Warwick

758413

	registered interest
	date	06/09/2017
	answering body	Cabinet Office
	answering dept id	53
	answering dept short name	Cabinet Office
	answering dept sort name	Cabinet Office
	hansard heading	Public Sector Debt
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is the annual cost of servicing the UK's external debt (1) in total, and (2) expressed as an amount per UK taxpayer.
	tabling member printed	Lord Vinson
	uin	HL1417
	answer	answer is ministerial correction date of answer 14/09/2017 answer text <p>The information requested falls within the responsibility of the UK Statistics Authority. I have asked the Authority to reply.</p> answering member printed Lord Young of Cookham question first answered 14/09/2017 15:47:04 answering member 57 label Biography information for Lord Young of Cookham attachment 1 file name HL1417 LY .pdf title UKSA response to HL1417
	tabling member	1807 label Biography information for Lord Vinson