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436570

	registered interest
	date	09/12/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Electronic Commerce: VAT
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government, further to the Written Answer by Lord O’Neill of Gatley on 8 December (HL3854), what were the dates of the last three written communications from HMRC to Trading Standards about VAT fraud among online traders operating from abroad, including email, and to what persons at what offices they were addressed.
	tabling member printed	Lord Lucas
	uin	HL4404
	answer	answer is ministerial correction date of answer 23/12/2015 answer text <br /><p>HM Revenue &amp; Customs does not disclose communications it has with its enforcement partners, or the content of those communications, to avoid compromising sensitive policy and operational activities.</p><br /> answering member printed Lord O'Neill of Gatley question first answered 23/12/2015 10:23:32 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	1879 label Biography information for Lord Lucas

437331

	registered interest
	date	11/12/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Stamp Duty Reserve Tax
	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 of stamp duty reserve tax that will be repaid following the 2012 decision of the First-Tier Tribunal (Tax) in the case of <i>HSBC Holdings PLC and the Bank of New York Mellon Corporation v HMRC </i>(TC/2009/165484)<i>.</i>
	tabling member printed	Baroness Worthington
	uin	HL4532
	answer	answer is ministerial correction date of answer 23/12/2015 answer text <br /><p>HM Revenue and Customs (HMRC) is not in a position to provide an assessment of Stamp Duty Reserve Tax that may be repaid following the 2012 First Tier Tribunal decision in the case of HSBC Holdings PLC and the Bank of New York Mellon Corporation v HMRC. This is due to ongoing litigation of cases arising from that decision.</p><br /> answering member printed Lord O'Neill of Gatley question first answered 23/12/2015 10:29:50 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	4235 label Biography information for Baroness Worthington

437332

	registered interest
	date	11/12/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Stamp Duty Reserve Tax
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government how much stamp duty reserve tax has been repaid following the 2012 decision of the First-Tier Tribunal (Tax) in the case of<i> HSBC Holdings PLC and the Bank of New York Mellon Corporation v HMRC</i> (TC/2009/165484).
	tabling member printed	Baroness Worthington
	uin	HL4533
	answer	answer is ministerial correction date of answer 23/12/2015 answer text <br /><p>The First Tier Tribunal in the case of HSBC Holdings PLC and the Bank of New York Mellon Corporation v HMRC decided in March 2012 that the taxing of Stamp Duty Reserve Tax at 1.5% on a transfer of shares which is integral to a share capital raising exercise to a depositary receipt issuer or clearance service, infringed the Capital Duty Directive. Following that decision, HMRC has repaid a total of £168 million Stamp Duty Reserve Tax to various claimants.</p><br /> <br /> answering member printed Lord O'Neill of Gatley question first answered 23/12/2015 10:27:17 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	4235 label Biography information for Baroness Worthington

439755

	registered interest
	date	22/12/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	National Savings Bonds: Pensioners
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they will clarify whether they intend to reissue the 65+ Guarantee of Growth Bonds as and when they mature.
	tabling member printed	Lord Trefgarne
	uin	HL4808
	answer	answer is ministerial correction date of answer 08/01/2016 answer text <p>65+ GGB “Pensioner” Bonds were a special issue aimed at helping pensioners who rely on their savings in retirement. There are currently no plans for a further issue.</p> answering member printed Lord O'Neill of Gatley question first answered 08/01/2016 14:02:35 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	1813 label Biography information for Lord Trefgarne

541722

	registered interest
	date	21/07/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	EU Grants and Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what guarantees are in place to ensure that European structural and investment funding commitments that have already been entered into are honoured.
	tabling member printed	Baroness Bakewell of Hardington Mandeville
	uin	HL1399
	answer	answer is ministerial correction date of answer 04/08/2016 answer text <p><em>The Government remains committed to encouraging economic growth across the regions and nations of the UK. The Government is carefully considering the use of these funds and will make an announcement on EU funding in due course.</em></p><p><strong> </strong></p> answering member printed Lord O'Neill of Gatley question first answered 04/08/2016 12:37:43 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	4285 label Biography information for Baroness Bakewell of Hardington Mandeville

541723

	registered interest
	date	21/07/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	EU Grants and Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether it is their intention to allocate sufficient funding to meet the level and profile of the current calls by the UK on European structural and investment funding.
	tabling member printed	Baroness Bakewell of Hardington Mandeville
	uin	HL1400
	answer	answer is ministerial correction date of answer 04/08/2016 answer text <p><em>The people of the UK have voted to leave the EU. It would not be appropriate to commit, without due consideration, to continuing to spend money over a long period as if we had not voted to leave the EU. But the Government remains committed to encouraging economic growth across the regions and nations of the UK. The Government is therefore carefully considering the use of these funds and will make an announcement on EU funding in due course.</em></p><p><strong> </strong></p> answering member printed Lord O'Neill of Gatley grouped question UIN HL1401 question first answered 04/08/2016 12:39:47 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	4285 label Biography information for Baroness Bakewell of Hardington Mandeville

541724

	registered interest
	date	21/07/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	EU Grants and Loans
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they are planning to commit to future funding that reflects the total level of the 2014–20 European structural and investment funding programme in line with the needs of local areas.
	tabling member printed	Baroness Bakewell of Hardington Mandeville
	uin	HL1401
	answer	answer is ministerial correction date of answer 04/08/2016 answer text <p><em>The people of the UK have voted to leave the EU. It would not be appropriate to commit, without due consideration, to continuing to spend money over a long period as if we had not voted to leave the EU. But the Government remains committed to encouraging economic growth across the regions and nations of the UK. The Government is therefore carefully considering the use of these funds and will make an announcement on EU funding in due course.</em></p><p><strong> </strong></p> answering member printed Lord O'Neill of Gatley grouped question UIN HL1400 question first answered 04/08/2016 12:39:47 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	4285 label Biography information for Baroness Bakewell of Hardington Mandeville

513466

	registered interest
	date	18/04/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	UK Membership of EU
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government how seriously they view the warnings from the IMF and the Bank of England of the detrimental impact on both the UK and the global economy if the UK withdraws from the EU.
	tabling member printed	Lord Watson of Richmond
	uin	HL7723
	answer	answer is ministerial correction date of answer 03/05/2016 answer text <p><strong></strong>On 13 April 2016, HM Treasury published its analysis of the long-term economic impact of EU membership and the alternatives. It concluded that the UK would be permanently poorer if it left the EU. The document also notes that a UK exit from the EU would be likely to have a significant negative effect on the economy in the short term. A subsequent government document will examine in detail the short-term economic implications associated with leaving the EU.</p> answering member printed Lord O'Neill of Gatley question first answered 03/05/2016 16:20:01 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	2487 label Biography information for Lord Watson of Richmond

523716

	registered interest
	date	07/06/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Railways: Repairs and Maintenance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government, further to the Written Answer by Lord Price on 1 June (HL107), (1) why HM Revenue and Customs collects data on the currency of invoicing for trade with non-EU countries but not for EU countries, and (2) how they and the Bank of England manage sterling interest and exchange rates in the absence of such data.
	tabling member printed	Lord Pearson of Rannoch
	uin	HL531
	answer	answer is ministerial correction date of answer 20/06/2016 answer text <p><strong>HM Revenue and Customs collects data on the currency of invoicing for trade with non-EU countries as a basis for calculating customs duty under customs and statistical law. It is published in the UK on a dedicated website (www.uktradeinfo.com) and available to all. This data is also used by the European Institutions (e.g. the European Central Bank) to monitor the share of the Euro in international trade. There is no legislative requirement for this information to be collected for trade with EU countries.</strong></p><p><strong> </strong></p><p><strong>The UK’s monetary framework is clear, the independent Monetary Policy Committee of the Bank of England sets Bank Rate to target 2% inflation. The UK does not have an exchange rate target, the exchange rate is allowed to adjust flexibly, and movements in sterling are determined by market forces.</strong></p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 20/06/2016 15:20:59 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	3153 label Biography information for Lord Pearson of Rannoch

484513

	registered interest
	date	22/03/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they will review the contribution of contingent convertible bonds to financial stability and, in particular, the risk of adverse feedback loops and the contribution thereto of the absence of standardised terms.
	tabling member printed	Lord Myners
	uin	HL7290
	answer	answer is ministerial correction date of answer 07/04/2016 answer text <p><strong>In December 2015, the Bank of England set out its medium-term capital framework for UK banks and building societies. The Bank’s analysis suggested that the optimal risk-based going-concern capital requirement for the system as a whole is between 10% and 14% of risk weighted assets.</strong></p><p> </p><p><strong>The majority of this capital is made up of the highest quality, common equity tier 1 (CET1) capital. However, a small part (up to 1.5 percentage points) can be made up of additional tier 1 (AT1) capital, such as contingent convertible bonds.</strong></p><p> </p><p><strong>The Financial Policy Committee confirmed that only ‘high-trigger’ AT1 instruments would count towards a bank’s AT1 capital in respect of non-risk-based leverage ratio requirements. </strong></p><p><strong>This capital framework ensures that the UK’s banks and building societies are able to absorb losses and thereby reduce the risks to the stability of the UK financial system.</strong></p> answering member printed Lord O'Neill of Gatley question first answered 07/04/2016 15:32:27 answering member 4536 label Biography information for Lord O'Neill of Gatley
	tabling member	3869 label Biography information for Lord Myners