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1012161

	registered interest
	date	21/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Gold and Foreign Exchange Reserves: Venezuela
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of (1) the benefits to the UK of holding gold reserves for the central bank of Venezuela, and (2) the value of gold held by the Bank of England for the central bank of Venezuela; and whether they have a role in intervening if a request is made to repatriate any such gold.
	tabling member printed	Viscount Waverley
	uin	HL11688
	answer	answer is ministerial correction date of answer 05/12/2018 answer text <p>HM Treasury is unable to substantiate whether the Bank of England holds gold for the Central Bank of Venezuela as that is a matter for the Bank of England. HM Treasury has not made an assessment of the benefits to the UK of the Bank of England holding gold reserves for other central banks. Holding gold reserves on behalf of any foreign central bank is a matter for the Bank of England. The Bank of England does not share information on which central banks it holds gold reserves on behalf of or the value of that gold as this would contradict their customer confidentiality obligations.</p> answering member printed Lord Bates question first answered 05/12/2018 16:54:39 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

1012162

	registered interest
	date	21/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Gold and Foreign Exchange Reserves
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of (1) the benefits to the UK of holding gold reserves for other central banks, and (2) the value of gold held by the Bank of England for other central banks.
	tabling member printed	Viscount Waverley
	uin	HL11689
	answer	answer is ministerial correction date of answer 05/12/2018 answer text <p>HM Treasury is unable to substantiate whether the Bank of England holds gold for other central banks as that is a matter for the Bank of England. HM Treasury has not made an assessment of the benefits to the UK of the Bank of England holding gold reserves for other central banks. Holding gold reserves on behalf of any foreign central bank is a matter for the Bank of England. The Bank of England does not share information on which central banks it holds gold reserves on behalf of or the value of that gold as this would contradict their customer confidentiality obligations.</p> answering member printed Lord Bates question first answered 05/12/2018 16:48:15 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

1012163

	registered interest
	date	21/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Gold and Foreign Exchange Reserves
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they have a role in deciding for which foreign governments and central banks the Bank of England should hold gold reserves; and if so, for which foreign governments and central banks the Bank of England holds gold reserves, and in what quantities.
	tabling member printed	Viscount Waverley
	uin	HL11690
	answer	answer is ministerial correction date of answer 05/12/2018 answer text <p>HM Treasury does not have a role in deciding whether the Bank of England holds gold for foreign governments and central banks. HM Treasury is unable to substantiate whether the Bank of England holds gold for particular foreign governments and central banks as that is a matter for the Bank of England. The Bank of England does not share information on which foreign governments and central banks it holds gold reserves on behalf of or the value of that gold as this would contradict their customer confidentiality obligations.</p> answering member printed Lord Bates question first answered 05/12/2018 16:55:10 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

1012545

	registered interest
	date	22/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Gold and Foreign Exchange Reserves: Venezuela
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they will consider a moratorium on any repatriation of gold held by the Bank of England to the government or Central Bank of Venezuela until such time as they are satisfied that any repatriation meets the best interests of the people of that country.
	tabling member printed	Viscount Waverley
	uin	HL11737
	answer	answer is ministerial correction date of answer 06/12/2018 answer text <p>Holding gold reserves on behalf of any foreign central bank is a matter for the Bank of England. The Bank of England does not share information on which central banks it holds gold reserves on behalf of or the value of that gold as this would contradict their customer confidentiality obligations. Repatriation of any gold held at the Bank of England is ultimately a matter for the Bank of England. HM Treasury only has direct control over Government holdings of gold within its official reserves, which are held at the Bank of England.</p><p>The UK fully implements UN, EU and UK domestic sanctions law. The EU sanctions regime on Venezuela, introduced in November 2017, includes targeted asset freezes applied to a number of senior Government officials in the Maduro regime.</p> answering member printed Lord Bates question first answered 06/12/2018 17:43:17 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

733214

	registered interest
	date	27/06/2017
	answering body	Department for International Development
	answering dept id	20
	answering dept short name	International Development
	answering dept sort name	International Development
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government whether they would support future regionalisation of the Pillars of the Cotonou Agreement.
	tabling member printed	Viscount Waverley
	uin	HL205
	answer	answer is ministerial correction date of answer 03/07/2017 answer text <p>The UK government has supported calls for a differentiated and more regionalised approach during EU discussions on the successor to the Cotonou agreement. While the future agreement will come into force after our exit from the EU, we remain interested in what will be a major element of the global development architecture and will continue to participate in the discussions while we remain an EU Member State.</p> answering member printed Lord Bates question first answered 03/07/2017 12:17:56 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

870281

	registered interest
	date	23/03/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Trade Barriers
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how they intend to protect the economy from the effects of any trade war, following the UK's withdrawal from the EU.
	tabling member printed	Viscount Waverley
	uin	HL6615
	answer	answer is ministerial correction date of answer 29/03/2018 answer text <p>The UK is a global advocate for free trade and continues to work with global partners and as part of multilateral discussions at the WTO to tackle protectionism and protectionist measures.</p><p> </p><p>When the UK leaves the EU, we will play a full part in promoting compliance with the rules-based trading system and, if necessary, make use of the WTO’s dispute resolution procedures in defence of our national interests.</p><p> </p><p>As part of preparations for the UK’s exit from the EU, we are also committed to creating a trade remedies framework which is able to react efficiently and effectively to tackle unfair trade where necessary.</p> answering member printed Lord Bates question first answered 29/03/2018 14:57:07 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

906033

	registered interest
	date	16/05/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Taxation: Domicil
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether they intend to continue to adhere to the OECD residency criteria for tax purposes post-Brexit.
	tabling member printed	Viscount Waverley
	uin	HL7957
	answer	answer is ministerial correction date of answer 24/05/2018 answer text <p>The UK will continue to adhere to the OECD’s tax standards after Brexit. These include the provisions relating to residence in the OECD model treaty that the UK uses as the basis for bilateral double taxation agreements.</p> answering member printed Lord Bates question first answered 24/05/2018 14:08:56 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

909661

	registered interest
	date	22/05/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Markets: Corruption
	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 the UK’s financial markets for corrupt transactions by overseas investors; and what steps they are taking to combat such practices.
	tabling member printed	Viscount Waverley
	uin	HL8156
	answer	answer is ministerial correction date of answer 06/06/2018 answer text <p>The UK’s openness and status as a global financial centre exposes it to the risk of illicit financial flows.</p><p> </p><p>The UK’s National Risk Assessment 2017 assessed that retail banking, wholesale banking, capital markets and wealth management are all exposed to high money laundering risks. This assessment can be viewed online.</p><p> </p><p>This government is committed to ensuring the UK’s financial system is hostile to illicit finance, and is taking action to protect the integrity of the UK financial system.</p><p> </p><p>This includes introducing the Criminal Finances Act 2017 to enhance law enforcement’s powers to investigate and tackle financial crime, and comprehensively updating the Money Laundering Regulations to bring them in line with the latest international standards.</p><p> </p><p>The Financial Conduct Authority (FCA), which supervises financial institutions conducts regular, detailed AML inspections of the major retail and investment banks operating in the UK. Where financial institutions fall short of their legal and regulatory obligations, the FCA has taken tough action.</p><p> </p> answering member printed Lord Bates question first answered 06/06/2018 16:03:05 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

940115

	registered interest
	date	12/07/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Asian Infrastructure Investment Bank
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what involvement the UK has with the Asian Infrastructure Investment Bank.
	tabling member printed	Viscount Waverley
	uin	HL9530
	answer	answer is ministerial correction date of answer 25/07/2018 answer text <p>The UK became a founding member of the Asian Infrastructure Investment Bank (AIIB) in 2015, with a 3.18% shareholding, representing a capital contribution of $3.05 billion (of which 20% will be paid-in over five years, and 80% is callable).</p><p> </p><p>The Chancellor of the Exchequer represents the UK at the AIIB Board of Governors. The UK also holds one of the 12 seats on the AIIB Board of Directors, representing the Wider Europe Constituency (Denmark, Hungary, Iceland, Norway, Poland, Sweden, Switzerland and the UK).</p><p> </p><p>The UK is an active and committed shareholder of the Bank, in pursuit of the UK’s objectives of supporting economic growth in Asia, deepening economic ties globally, supporting the development of international financial institutions, and creating opportunities for British businesses.</p><p> </p> answering member printed Lord Bates question first answered 25/07/2018 13:23:58 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley

947642

	registered interest
	date	24/07/2018
	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 steps they are taking to advance the UK’s position as an international financial centre.
	tabling member printed	Viscount Waverley
	uin	HL9898
	answer	answer is ministerial correction date of answer 02/08/2018 answer text <p>The UK is home to the world’s preeminent financial centre and the government is committed to maintaining and enhancing this position. In addition to our natural advantages, such as a central time zone and the English language, we have strengths across all the major sectors – banking, asset management, and insurance – alongside a globally respected regulatory system, and world-class legal and professional services.</p><p> </p><p>As the Chancellor of the Exchequer set out in his Mansion House speech in June, the government has a long-term vision for the future of UK financial services, based on ensuring the continued innovation, resilience, and openness of the sector. This includes strengthening the UK’s already world-leading positions in the markets of the future, whether in Fintech, green and sustainable finance, or rupee and renminbi products.</p> answering member printed Lord Bates question first answered 02/08/2018 12:10:45 answering member 1091 label Biography information for Lord Bates
	tabling member	1744 label Biography information for Viscount Waverley