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945619
star this property registered interest false more like this
star this property date less than 2018-07-20more like thismore than 2018-07-20
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Government Securities 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 UK Treasury Bills are available for purchase on any given day. more like this
star this property tabling member printed
Lord Kennedy of Southwark more like this
star this property uin HL9748 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Treasury bills are typically sold by the UK Debt Management Office (DMO) via regular tenders each Friday morning. Maturities currently offered for sale are one-month, three-month and six-month bills. Alongside the results of each Friday morning’s tender, the DMO also announces the amounts for sale via tender for the following Friday.</p><p> </p><p>In addition, on any business day, the DMO can sell either new or existing Treasury bills (which match those previously sold at a tender) bilaterally on request from its counterparties, provided that such issuance is consistent with the DMO’s cash management operational requirements.</p><p> </p><p>Finally, Treasury Bill Primary Participants (banks) may also offer a market-making service in all Treasury bills to their own counterparties on any business day.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T12:07:57.37Zmore like thismore than 2018-07-31T12:07:57.37Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
4153
unstar this property label Biography information for Lord Kennedy of Southwark more like this
945608
star this property registered interest false more like this
star this property date less than 2018-07-20more like thismore than 2018-07-20
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Infrastructure 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 when they will respond to the National Infrastructure Commission's National Infrastructure Assessment 2018, published in July. more like this
star this property tabling member printed
Baroness Featherstone more like this
star this property uin HL9737 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The government welcomed the publication of the National Infrastructure Assessment (NIA), and is considering the recommendations.</p><p> </p><p>As set out in the National Infrastructure Commission’s Framework Document, the government will respond to the NIC’s recommendations as soon as practical, and endeavour to respond within 6 months, and no longer than a year.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T12:07:17.547Zmore like thismore than 2018-07-31T12:07:17.547Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
1531
unstar this property label Biography information for Baroness Featherstone more like this
944929
star this property registered interest false more like this
star this property date less than 2018-07-19more like thismore than 2018-07-19
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Public Sector Debt 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 is their calculation of what the cumulative cost of debt interest would be by 2045/46 if they only balanced the current budget. more like this
star this property tabling member printed
Baroness Neville-Rolfe more like this
star this property uin HL9712 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The Managing Fiscal Risks document, published by the Treasury on the 17<sup>th</sup> July, projects that if the government only balanced the Current Budget every year from 2021-22, then after taking account of economic shocks, annual debt interest costs in 2045-46 would rise to 4.3% of Gross Domestic Product.</p><p> </p><p>The cumulative cost of these interest payments from the current financial year to 2045-46 is projected to be £3.7 trillion.</p><p> </p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T12:06:48.913Zmore like thismore than 2018-07-31T12:06:48.913Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
4284
unstar this property label Biography information for Baroness Neville-Rolfe more like this
944900
star this property registered interest false more like this
star this property date less than 2018-07-19more like thismore than 2018-07-19
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Poverty 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 end the poverty premium. more like this
star this property tabling member printed
Lord Bird more like this
star this property uin HL9683 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Since 2010 there are 1,000,000 fewer people, including 300,000 fewer children, in absolute low income (before housing costs), both record lows.</p><p> </p><p>The government has a range of policies to support households with their energy bills such as the Warm Home Discount, Energy Company Obligation and Winter Fuel Payment schemes. The government is also committed to ensuring that individuals, regardless of their background or income, have access to useful and affordable financial products and services, and has established a Financial Inclusion Policy Forum, which provides leadership and ensures collaboration across government and with the sector in tackling financial exclusion.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T12:06:00.507Zmore like thismore than 2018-07-31T12:06:00.507Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
4564
unstar this property label Biography information for Lord Bird more like this
944437
star this property registered interest false more like this
star this property date less than 2018-07-18more like thismore than 2018-07-18
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading NHS: Finance 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 findings of the Office for Budget Responsibility, 2018 Fiscal Sustainability Report, published in July, that there will not be a Brexit dividend to fund their spending pledges for the health service. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL9672 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The OBR Fiscal Sustainability Report (FSR) stated that “there will be direct savings from the net contributions to the EU budget that the UK will no longer have to make” after leaving the EU. These savings can be allocated to domestic priorities.</p><p> </p><p>As the Prime Minister set out, the NHS is the government’s number one spending priority. The announcement stated that the government’s commitment to the NHS will be partly funded by money that we will no longer spend on our annual membership subscription to the European Union after we have left. In addition, taxpayers will need to contribute a bit more in a fair and balanced way. The Chancellor will set out further details at a future fiscal event.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T12:04:56.183Zmore like thismore than 2018-07-31T12:04:56.183Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
1796
unstar this property label Biography information for Lord Taylor of Warwick more like this
944436
star this property registered interest false more like this
star this property date less than 2018-07-18more like thismore than 2018-07-18
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Economic Situation 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 effects of Brexit on the UK economy to date. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL9671 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The UK economy is resilient. The economy has grown every year since 2010, and in 2017, growth remained solid at 1.7%. In their Spring Statement 2018 forecast, the Office for Budget Responsibility expected that the UK economy will continue to grow in 2018 and throughout the forecast period. The labour market continues to show strength with both the employment level and employment rate at record highs, and unemployment at the lowest rate in 40 years. The UK government wants to protect jobs and support growth through an economic partnership with the EU, and proposals for our future relationship with the EU are set out in the White Paper.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T12:03:19.023Zmore like thismore than 2018-07-31T12:03:19.023Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
1796
unstar this property label Biography information for Lord Taylor of Warwick more like this
944423
star this property registered interest false more like this
star this property date less than 2018-07-18more like thismore than 2018-07-18
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Multinational Companies: Taxation 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 representations they have made to the European Commissioner for Competition to set up a system to ensure that large industries that have substantial operations in EU countries, but pay a large part of their taxes elsewhere, pay appropriate taxes in the EU countries where their operations are based. more like this
star this property tabling member printed
Lord Morris of Aberavon more like this
star this property uin HL9660 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>The UK has led global efforts to tackle multinational tax avoidance.</p><p> </p><p>We were at the forefront of the Organisation for Economic Co-operation and Development’s Base Erosion and Profit Shifting (BEPS) Project, which sought to address gaps and mismatches in the international tax system and align tax with economic substance.</p><p> </p><p>We have swiftly implemented the project’s recommendations in domestic legislation, introducing a new restriction on the deductibility of multinationals’ interest expense and rules to prevent multinationals exploiting differences in how countries tax financial instruments and entities.</p><p>We worked closely with the EU Commission and other Member States on the Anti-Tax Avoidance Directive, which seeks to implement the recommendations of the BEPS project and ensure a coordinated response in the EU to tackling tax avoidance by multinationals.</p><p> </p><p>We are engaging constructively with the EU Commission’s recent proposals on digital taxation, which seek to better ensure that digital businesses pay tax in the countries in which they generate value.</p><p> </p>
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T12:04:07.163Zmore like thismore than 2018-07-31T12:04:07.163Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
565
unstar this property label Biography information for Lord Morris of Aberavon more like this
943411
star this property registered interest false more like this
star this property date less than 2018-07-17more like thismore than 2018-07-17
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Revenue and Customs: Data Protection 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 whether HMRC is able to access UK citizens' bank accounts and other personal data without their permission and without judicial oversight. more like this
star this property tabling member printed
Viscount Thurso more like this
star this property uin HL9622 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Under longstanding powers HMRC can require banks and building societies to provide data on interest paid to, or collected on behalf of, their customers, without the customer’s permission or judicial approval.</p><p> </p><p>With the approval of the taxpayer or the First Tier Tribunal, HMRC can require additional information from banks about a specific taxpayer that is reasonably required to check the taxpayer’s tax position. These data and information gathering powers, some of which have been in continual use since their introduction at the end of the eighteenth century, are regularly reviewed.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T11:58:02.923Zmore like thismore than 2018-07-31T11:58:02.923Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
1399
unstar this property label Biography information for Viscount Thurso more like this
943404
star this property registered interest false more like this
star this property date less than 2018-07-17more like thismore than 2018-07-17
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Green Finance Institute 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 when they expect the Green Finance Institute to become operational. more like this
star this property tabling member printed
Lord Teverson more like this
star this property uin HL9616 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>We are working with the City of London Corporation to develop and determine a timeline for launching its new global Green Finance Institute, which we expect will become operational within the next 12 months.</p><p> </p><p>In response to the first recommendation of the Green Finance Taskforce, the Chancellor announced the Institute’s creation during his Mansion House address. It will initially be supported by funding from both the government and the City of London Corporation, where the Institute will be housed in the first instance.</p><p> </p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T12:00:13.71Zmore like thismore than 2018-07-31T12:00:13.71Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
3789
unstar this property label Biography information for Lord Teverson more like this
943403
star this property registered interest false more like this
star this property date less than 2018-07-17more like thismore than 2018-07-17
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury remove filter
star this property hansard heading Government Securities 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 they intend to issue a sovereign green bond; and if so, when. more like this
star this property tabling member printed
Lord Teverson more like this
star this property uin HL9615 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer remove filter
star this property answer text <p>Before issuing a new type of bond, such as a sovereign green bond, the government would need to be satisfied that – among other factors – they would provide cost-effective financing for the taxpayer, and there would be sustainable demand.</p><p> </p><p>The UK’s private sector green bond market is well established, facilitated by the London Stock Exchange’s comprehensive specialist offering. There are now over 64 green bonds listed on the LSE in seven currencies, worth over $20 billion.</p><p> </p><p>Sovereign green bonds were recently recommended by the Green Finance Taskforce’s report in March 2018. The government is developing its response to this recommendation, and will respond in due course.</p> more like this
star this property answering member printed Lord Bates more like this
star this property question first answered
less than 2018-07-31T11:58:29.427Zmore like thismore than 2018-07-31T11:58:29.427Z
star this property answering member
1091
star this property label Biography information for Lord Bates more like this
star this property tabling member
3789
unstar this property label Biography information for Lord Teverson more like this