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511850
star this property registered interest false more like this
star this property date less than 2016-04-13more like thismore than 2016-04-13
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Bank Services more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government whether, in the event of the UK leaving the EU, the UK would have to leave the EU electronic banking system, the Single Euro Payments Area, by which funds can be transferred across the EU. more like this
star this property tabling member printed
Viscount Waverley more like this
star this property uin HL7610 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2016-04-27more like thismore than 2016-04-27
star this property answer text <p>The paper ‘The process for withdrawing from the European Union’ set out that a vote to leave the EU would be the start, not the end, of a process. It could lead to up to a decade or more of uncertainty. One consideration for the UK Government would be how to avoid regulatory gaps in the UK’s domestic legislative framework once the EU Treaties ceased to apply. This would involve questions over how existing EU law could or should be adopted into domestic law.</p><p> </p><p>At the February European Council, the Government negotiated a new settlement, giving the United Kingdom a special status in a reformed European Union. The Government's view is that the UK will be stronger, safer and better off in a reformed EU.</p><p> </p><p>In April 2016, HM Treasury published analysis that shows that if the UK leaves the EU, the UK would be permanently poorer. The analysis estimates an annual loss of 6.2% of GDP after 15 years, which is equivalent to £4,300 per UK household. The negative impact to GDP would result in weaker tax receipts, which would be £36 billion a year lower. This is more than a third of the NHS England budget and the equivalent of 8p on the basic rate of income tax.</p><p> </p><p>These estimates are based on a central scenario: leaving the EU to negotiate a bilateral trade agreement with Europe, along the lines of that which took Canada seven years to negotiate.</p><p> </p><p>Through a range of realistic assumptions, many of them cautious, the HM Treasury analysis produces objective and robust estimates, which are within the range of external studies.</p><p> </p><p>A full assessment of the short-term implications of leaving the EU will be published in a further government document.</p>
star this property answering member printed Lord O'Neill of Gatley more like this
star this property question first answered
less than 2016-04-27T16:11:39.78Zmore like thismore than 2016-04-27T16:11:39.78Z
unstar this property answering member
4536
star this property label Biography information for Lord O'Neill of Gatley more like this
star this property tabling member
1744
unstar this property label Biography information for Viscount Waverley more like this
512790
star this property registered interest false more like this
star this property date less than 2016-04-14more like thismore than 2016-04-14
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Taxation: British Nationals Abroad more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government, in the event of the UK leaving the EU, how they intend to change the status of domicile, if at all, in relation to UK citizens living in EU member states. more like this
star this property tabling member printed
Viscount Waverley more like this
star this property uin HL7679 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2016-04-28more like thismore than 2016-04-28
star this property answer text <p>Domicile in the UK is an English common law concept which is distinct from citizenship and nationality. It is not dependent on EU law nor on the UK’s membership of the EU.</p> more like this
star this property answering member printed Lord O'Neill of Gatley more like this
star this property grouped question UIN HL7680 more like this
star this property question first answered
less than 2016-04-28T14:22:07.313Zmore like thismore than 2016-04-28T14:22:07.313Z
unstar this property answering member
4536
star this property label Biography information for Lord O'Neill of Gatley more like this
star this property tabling member
1744
unstar this property label Biography information for Viscount Waverley more like this
512791
star this property registered interest false more like this
star this property date less than 2016-04-14more like thismore than 2016-04-14
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Taxation: British Nationals Abroad more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government whether, in the event of the UK leaving the EU, UK citizens living in EU member states would continue to be treated as all other UK citizens in the event of their death, in particular regarding their domicile status and death duties on their estates. more like this
star this property tabling member printed
Viscount Waverley more like this
star this property uin HL7680 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2016-04-28more like thismore than 2016-04-28
star this property answer text <p>Domicile in the UK is an English common law concept which is distinct from citizenship and nationality. It is not dependent on EU law nor on the UK’s membership of the EU.</p> more like this
star this property answering member printed Lord O'Neill of Gatley more like this
star this property grouped question UIN HL7679 more like this
star this property question first answered
less than 2016-04-28T14:22:07.36Zmore like thismore than 2016-04-28T14:22:07.36Z
unstar this property answering member
4536
star this property label Biography information for Lord O'Neill of Gatley more like this
star this property tabling member
1744
unstar this property label Biography information for Viscount Waverley more like this
528840
star this property registered interest false more like this
star this property date less than 2016-06-27more like thismore than 2016-06-27
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Asylum more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government what measures they and the Bank of England will be taking to protect and promote (1) the City of London, and (2) Edinburgh, as financial centres until negotiations to exit the EU are completed. more like this
star this property tabling member printed
Viscount Waverley more like this
star this property uin HL801 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2016-07-11more like thismore than 2016-07-11
star this property answer text <p>The Chancellor has met with financial institutions this week to discuss the impact of the United Kingdom’s decision to leave the European Union.</p><p> </p><p>Britain’s economy and financial system are fundamentally strong. Action by the government and the Bank of England over the last six years has substantially strengthened the resilience of the financial system, and the authorities have all the necessary tools in place to protect financial stability.</p><p> </p><p>The UK is a leading global financial centre serving not just Britain or Europe, but the entire world. It has natural strengths such as a central time zone and the English language, together with an unrivalled pool of firms and investors, supported by world leading legal and professional services. Major banks from across the globe have bases in the UK, and the UK has the fourth highest share of cross-border banking. It is also fast establishing itself as a global hub for renminbi, rupee, Islamic finance, green finance and FinTech business.</p><p> </p><p>Formal negotiations with the EU will not begin until the UK triggers Article 50. In the meantime, and during the negotiations that will follow, there will be no change to people’s rights to travel and work, and to the way our goods and services are traded, or to the way our economy and financial system is regulated.</p><p> </p><p>The government is committed to deepening relationships with new and established trade partners. Earlier this week the Chancellor laid out plans to build a highly competitive economy by targeting a corporation tax rate of less than 15%, focusing on a new push for investment from China, ensuring support for bank lending, redoubling efforts to invest in the Northern Powerhouse and maintaining the UK’s fiscal credibility.</p><p> </p><p>The government will also maintain an open and constructive dialogue with the UK financial services industry, including through the Financial Services Trade and Investment Board, which is tasked with boosting and promoting the UK’s financial services competitiveness position and supporting jobs. Government and industry collaboration will continue to play a central role in delivering a global, sustainable, innovative and competitive UK financial services industry that continues to go from strength to strength.</p>
star this property answering member printed Lord O'Neill of Gatley more like this
star this property question first answered
less than 2016-07-11T11:40:25.213Zmore like thismore than 2016-07-11T11:40:25.213Z
unstar this property answering member
4536
star this property label Biography information for Lord O'Neill of Gatley more like this
star this property tabling member
1744
unstar this property label Biography information for Viscount Waverley more like this
456373
star this property registered interest false more like this
star this property date less than 2016-03-01more like thismore than 2016-03-01
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Financial Services Compensation Scheme more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government whether the decision of the European Council concerning a new settlement for the UK within the EU, which states that "not all member states have the euro as their currency", means that the Financial Services Compensation reduction of the deposit protection limit from £85,000 to £75,000 will be reversed, and whether in future such fixed sterling amounts will not be subject to amendment according to exchange rate movements. more like this
star this property tabling member printed
Viscount Trenchard more like this
star this property uin HL6605 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2016-03-15more like thismore than 2016-03-15
star this property answer text <p>The Government has made representations to the European Commission to suggest that the reviews of the Deposit Guarantee Scheme Directive coverage level in non-euro states should occur after the Commission completes its review of suitability of the coverage level as a whole and also that changes for non-euro states reflect genuine, very large and lasting changes in exchange rates.</p> more like this
star this property answering member printed Lord O'Neill of Gatley more like this
star this property question first answered
less than 2016-03-15T16:23:33.847Zmore like thismore than 2016-03-15T16:23:33.847Z
unstar this property answering member
4536
star this property label Biography information for Lord O'Neill of Gatley more like this
star this property tabling member
1829
unstar this property label Biography information for Viscount Trenchard more like this
62483
star this property registered interest false more like this
star this property date less than 2014-06-18more like thismore than 2014-06-18
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Fuels: Tax Evasion more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to address cross-border smuggling of diesel fuel between the Republic of Ireland and Northern Ireland. more like this
star this property tabling member printed
Viscount Bridgeman more like this
star this property uin HL412 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-06-30more like thismore than 2014-06-30
star this property answer text <p>A range of measures are in place to detect and deter cross border smuggling of diesel between the Republic and Ireland and Northern Ireland. These include investigative work on either side of the border, for example checking of documentation, and acting on intelligence received. This is augmented by close cooperation and information sharing by the HMRC, the Irish Revenue Commissioners and other relevant agencies.</p><p> </p><p> </p><p>Additionally, HMRC fights fraud on a wide range of fronts, from special units performing thousands of roadside checks to raiding laundering plants. The UK has recently announced, jointly with Ireland, an improved new marker for rebated fuel, which will make it much harder to launder marked fuel and sell it at a profit.</p> more like this
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2014-06-30T15:24:03.4552231Zmore like thismore than 2014-06-30T15:24:03.4552231Z
unstar this property answering member
4262
star this property label Biography information for Lord Deighton more like this
star this property tabling member
3515
unstar this property label Biography information for Viscount Bridgeman more like this
391293
star this property registered interest false more like this
star this property date less than 2015-07-20more like thismore than 2015-07-20
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Economic and Monetary Union: Greece more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government what assessment they have made of the potential effect of a Greek exit from the euro on the United Kingdom economy; and what contingency plans have been made for that eventuality. more like this
star this property tabling member printed
The Marquess of Lothian more like this
star this property uin HL1651 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2015-07-27more like thismore than 2015-07-27
star this property answer text <p>As the Chancellor has said, we should not underestimate the impact that a Greek exit from the euro area would have on the European economy – or the knock-on effects on the UK. But the economic plan we have pursued in Britain these last five years has increased our resilience – and we will take whatever further steps are needed to protect the UK from new risks to our economic security. The Treasury continuously monitors global economic developments, including those in Greece, and their impact on the UK as part of the normal process of policy development.</p><p> </p><p> </p><p> </p><p>The UK government stands ready to do whatever is necessary to protect and secure the British economy and financial system, and support businesses and individuals. As you would expect, these contingency plans take into account a wide range of scenarios.</p><p> </p> more like this
star this property answering member printed Lord O'Neill of Gatley more like this
star this property question first answered
less than 2015-07-27T13:42:59.553Zmore like thismore than 2015-07-27T13:42:59.553Z
unstar this property answering member
4536
star this property label Biography information for Lord O'Neill of Gatley more like this
star this property tabling member
259
unstar this property label Biography information for The Marquess of Lothian more like this
709139
star this property registered interest false more like this
star this property date less than 2017-03-07more like thismore than 2017-03-07
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Financial Services more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government which Minister is responsible for Britain's financial services during the Brexit negotiations; whether there has been a recent change in the allocation of ministerial responsibilities in this regard; and if so, when this was announced. more like this
star this property tabling member printed
The Marquess of Lothian more like this
star this property uin HL5896 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2017-03-20more like thismore than 2017-03-20
star this property answer text <p>The Chancellor is responsible for all HM Treasury business relating to EU exit, including financial services. When I was appointed as Commercial Secretary the Chancellor asked me to take on responsibility under him for EU exit for financial services in addition to a number of other duties. My full portfolio was formally published on gov.uk on 31 January</p> more like this
star this property answering member printed Baroness Neville-Rolfe more like this
star this property question first answered
less than 2017-03-20T11:44:31.89Zmore like thismore than 2017-03-20T11:44:31.89Z
unstar this property answering member
4284
star this property label Biography information for Baroness Neville-Rolfe more like this
star this property tabling member
259
unstar this property label Biography information for The Marquess of Lothian more like this
829045
star this property registered interest false more like this
star this property date less than 2018-01-23more like thismore than 2018-01-23
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Cash Dispensing: Rural Areas more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to ensure that rural communities in the UK have adequate access to free-to-use cash machines now and in the future. more like this
star this property tabling member printed
The Marquess of Lothian more like this
star this property uin HL5025 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-02-05more like thismore than 2018-02-05
star this property answer text <p>The Government recognises that widespread free access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK, including in rural communities. Government has been engaging and will continue to engage with industry, to ensure that widespread free access is maintained.</p><p> </p><p>The Payment Systems Regulator (PSR), which Government set up as an independent regulator in 2015 with a statutory objective to ensure that the UK’s payment systems work in the interests of their users, is monitoring developments within ATM provision, and is conducting ongoing work on the impact that changes may have. The PSR has recently published a summary of their work to date, which can be found at https://www.psr.org.uk/psr-focus/the-UK-ATM-network.</p><p> </p><p>The PSR has committed to using its powers to act should any of the firms it regulates behave in a way that conflicts with its statutory objectives.</p><p> </p><p>LINK, the main scheme behind the UK’s ATM network, has assured us and the PSR that industry is committed to maintaining an extensive network of free-to-use cash machines, and to ensuring that the present geographical spread of ATMs is maintained. LINK intends to bolster its Financial Inclusion Programme, which ensures the provision of ATMs in areas of deprivation, where demand would not otherwise make one viable, and has also committed to protecting all free-to-use ATMs which are a kilometre or more from the next nearest free-to-use ATM.</p>
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-02-05T16:22:35.033Zmore like thismore than 2018-02-05T16:22:35.033Z
unstar this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
259
unstar this property label Biography information for The Marquess of Lothian more like this
651859
star this property registered interest false more like this
star this property date less than 2016-12-05more like thismore than 2016-12-05
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury remove filter
star this property hansard heading Overseas Students more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty’s Government what assessment they have made of the financial contribution of overseas students to the UK economy. more like this
star this property tabling member printed
The Lord Bishop of Winchester more like this
star this property uin HL3840 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2016-12-14more like thismore than 2016-12-14
star this property answer text <p>The Government estimated in 2013 that overseas students (EU and non-EU) in higher education in the UK contributed £9.7 billion to the UK economy in 2011, through tuition fees and living expenditure.</p><p> </p><p>The Department for Education will publish a new estimate of the total value of education exports to the UK economy shortly, based on data from 2014. This will include updated estimates on the financial contribution of overseas students.</p> more like this
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2016-12-14T16:49:04.437Zmore like thismore than 2016-12-14T16:49:04.437Z
unstar this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
4256
unstar this property label Biography information for The Lord Bishop of Winchester more like this