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143442

	registered interest
	date	07/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government how much they owe the government of the United States as a result of the First World War; and what are the arrangements for repayment.
	tabling member printed	Lord Laird
	uin	HL2727
	answer	answer is ministerial correction date of answer 20/11/2014 answer text <p>At the end of the First World War, the debt owed to the United States by the United Kingdom amounted to around £850 million. Repayments of the debt were made between 1923 and 1931. In 1931, President Hoover of the United States proposed a one year moratorium on all war debts, which allowed extensive international discussions on the general problems of debt repayment to be held. However, no satisfactory agreement was reached. In the absence of such an agreement, no payments have been made to, or received from, other nations since 1934. At the time, the United Kingdom was owed more by other nations than the outstanding principal it owed the United States.</p><p> </p><p> </p><p> </p><p>For this reason, liabilities and assets arising from WW1 have not been listed on the UK government’s balance sheet since 1944-45.</p><p> </p> answering member printed Lord Deighton question first answered 20/11/2014 17:03:29 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

166116

	registered interest
	date	25/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether any countries owe money to the United Kingdom as a result of the First World War; and if so, which and how much in each case.
	tabling member printed	Lord Laird
	uin	HL3174
	answer	answer is ministerial correction date of answer 09/12/2014 answer text <p>At the end of World War I, debt was owed between the UK and other countries. However, in 1931 President Hoover of the United States proposed a one year moratorium on all War debts, which allowed extensive international discussions on the general problems of debt repayment to be held. No satisfactory agreement was reached. In the absence of such an agreement no payments have been made to, or received from, other nations since 1934.</p><p> </p><p> </p><p> </p><p>The most recent repayment made by the UK on its debt to the US from the First World War was made in the financial year 1932-33. More specific information on the date of this payment is not available.</p><p> </p><p> </p><p> </p><p>The UK included the First World War debt to the US as part of the National Debt up until 1944-45, however all First World War debts to and from other nations are now effectively considered as having lapsed. Therefore, as explained in the answer to the original question, no arrangements have been made for repayment of the debt.</p><p> </p><p> </p><p> </p><p>In addition, the government holds eight undated gilts in its debt portfolio, three of which stem from bonds originally issued to raise money to finance the First World War.</p><p> </p><p> </p><p> </p><p>The Chancellor has announced that two of these undated gilts, 4% Consolidated Loan and 3½% War Loan, will be redeemed, on 1 February 2015 and 9 March 2015 respectively. These gilts account for some 99% of the bonds originally issued to finance the First World War. The government has also announced a strategy to remove the remaining undated gilts from the debt portfolio when it is deemed value for money to do so.</p><p> </p><p> </p><p> </p><p>The repayments on this debt will go to the holders of these bonds. The Treasury does not hold detailed information on the identity of organisations or individuals who own gilts, however information on sectoral holdings of gilts is published on a quarterly basis by the Office for National Statistics. The latest information on the breakdown of gilt holdings by sector, including a breakdown of non-UK resident holders of gilts by foreign central banks and other non-residents, is published by the ONS in Section 5.2.10 of its quarterly United Kingdom Economic Accounts publication.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3175 HL3176 question first answered 09/12/2014 17:41:36 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

166117

	registered interest
	date	25/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	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 Deighton on 20 November (HL2727), concerning debt for the First World War, what are the arrangements for repayment of the United Kingdom's debt to the United States; and why that information was not included in the answer to the original question.
	tabling member printed	Lord Laird
	uin	HL3175
	answer	answer is ministerial correction date of answer 09/12/2014 answer text <p>At the end of World War I, debt was owed between the UK and other countries. However, in 1931 President Hoover of the United States proposed a one year moratorium on all War debts, which allowed extensive international discussions on the general problems of debt repayment to be held. No satisfactory agreement was reached. In the absence of such an agreement no payments have been made to, or received from, other nations since 1934.</p><p> </p><p> </p><p> </p><p>The most recent repayment made by the UK on its debt to the US from the First World War was made in the financial year 1932-33. More specific information on the date of this payment is not available.</p><p> </p><p> </p><p> </p><p>The UK included the First World War debt to the US as part of the National Debt up until 1944-45, however all First World War debts to and from other nations are now effectively considered as having lapsed. Therefore, as explained in the answer to the original question, no arrangements have been made for repayment of the debt.</p><p> </p><p> </p><p> </p><p>In addition, the government holds eight undated gilts in its debt portfolio, three of which stem from bonds originally issued to raise money to finance the First World War.</p><p> </p><p> </p><p> </p><p>The Chancellor has announced that two of these undated gilts, 4% Consolidated Loan and 3½% War Loan, will be redeemed, on 1 February 2015 and 9 March 2015 respectively. These gilts account for some 99% of the bonds originally issued to finance the First World War. The government has also announced a strategy to remove the remaining undated gilts from the debt portfolio when it is deemed value for money to do so.</p><p> </p><p> </p><p> </p><p>The repayments on this debt will go to the holders of these bonds. The Treasury does not hold detailed information on the identity of organisations or individuals who own gilts, however information on sectoral holdings of gilts is published on a quarterly basis by the Office for National Statistics. The latest information on the breakdown of gilt holdings by sector, including a breakdown of non-UK resident holders of gilts by foreign central banks and other non-residents, is published by the ONS in Section 5.2.10 of its quarterly United Kingdom Economic Accounts publication.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3174 HL3176 question first answered 09/12/2014 17:41:36 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

166118

	registered interest
	date	25/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World War I: Debts
	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 Deighton on 20 November (HL2727), concerning debt for the First World War, when was the most recent repayment made to the United States.
	tabling member printed	Lord Laird
	uin	HL3176
	answer	answer is ministerial correction date of answer 09/12/2014 answer text <p>At the end of World War I, debt was owed between the UK and other countries. However, in 1931 President Hoover of the United States proposed a one year moratorium on all War debts, which allowed extensive international discussions on the general problems of debt repayment to be held. No satisfactory agreement was reached. In the absence of such an agreement no payments have been made to, or received from, other nations since 1934.</p><p> </p><p> </p><p> </p><p>The most recent repayment made by the UK on its debt to the US from the First World War was made in the financial year 1932-33. More specific information on the date of this payment is not available.</p><p> </p><p> </p><p> </p><p>The UK included the First World War debt to the US as part of the National Debt up until 1944-45, however all First World War debts to and from other nations are now effectively considered as having lapsed. Therefore, as explained in the answer to the original question, no arrangements have been made for repayment of the debt.</p><p> </p><p> </p><p> </p><p>In addition, the government holds eight undated gilts in its debt portfolio, three of which stem from bonds originally issued to raise money to finance the First World War.</p><p> </p><p> </p><p> </p><p>The Chancellor has announced that two of these undated gilts, 4% Consolidated Loan and 3½% War Loan, will be redeemed, on 1 February 2015 and 9 March 2015 respectively. These gilts account for some 99% of the bonds originally issued to finance the First World War. The government has also announced a strategy to remove the remaining undated gilts from the debt portfolio when it is deemed value for money to do so.</p><p> </p><p> </p><p> </p><p>The repayments on this debt will go to the holders of these bonds. The Treasury does not hold detailed information on the identity of organisations or individuals who own gilts, however information on sectoral holdings of gilts is published on a quarterly basis by the Office for National Statistics. The latest information on the breakdown of gilt holdings by sector, including a breakdown of non-UK resident holders of gilts by foreign central banks and other non-residents, is published by the ONS in Section 5.2.10 of its quarterly United Kingdom Economic Accounts publication.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3174 HL3175 question first answered 09/12/2014 17:41:36 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird

166088

	registered interest
	date	25/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Workplace Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they are measuring compensation levels in the investment management industry and any changes due to auto-enrolment.
	tabling member printed	Lord Mendelsohn
	uin	HL3146
	answer	answer is ministerial correction date of answer 09/12/2014 answer text <p>Compensation levels in the investment management industry are already governed by the Remuneration Code (“the Code”) which is part of the FCA Handbook. Investment firms must ensure that their remuneration policies do not encourage staff to sell inappropriate products or give rise to a conflict of interest. Firms are also required to ensure that remuneration is structured through an appropriate and suitable balance between fixed and variable compensation where the variable part is subject to forfeiture if losses or misconduct come to light after the award has been made. Firms managing funds that accept payments from auto-enrolment schemes must adhere to the Code.</p><p> </p> answering member printed Lord Deighton question first answered 09/12/2014 17:25:31 answering member 4262 label Biography information for Lord Deighton
	tabling member	4286 label Biography information for Lord Mendelsohn

61265

	registered interest
	date	10/06/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Welfare State: Northern Ireland
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether, and if so how much, money they have withheld from the Northern Ireland Executive because of its failure to implement welfare reform in Northern Ireland.
	tabling member printed	Lord Empey
	uin	HL225
	answer	answer is ministerial correction date of answer 19/06/2014 answer text <p>The Chief Secretary to the Treasury notified the Northern Ireland Minister for Finance and Personnel on 31 March that the Northern Ireland Executive's funding allocations would be reduced by £13m, £87 m and £114 m in 2013/14, 2014/15 and 2015/16 respectively.</p> answering member printed Lord Deighton question first answered 19/06/2014 15:14:55 answering member 4262 label Biography information for Lord Deighton
	tabling member	4216 label Biography information for Lord Empey

79775

	registered interest
	date	30/07/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	VAT
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what are the current regulations with regard to the levying of value added tax on repairs and maintenance of old and listed buildings; and whether there are any plans to review or change such regulations.
	tabling member printed	The Earl of Clancarty
	uin	HL1664
	answer	answer is ministerial correction date of answer 11/08/2014 answer text <p>Section 1 of the Value Added Tax Act 1994 determines that value added tax should be charged on a supply of goods or services. Section 2 of the same Act sets the standard rate at 20%. Repairs and maintenance of all buildings fall into this standard rate.</p><p>The Chancellor keeps all taxes under review.</p> answering member printed Lord Deighton question first answered 11/08/2014 11:57:21 answering member 4262 label Biography information for Lord Deighton
	tabling member	3391 label Biography information for The Earl of Clancarty

65835

	registered interest
	date	03/07/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Unpaid Taxes
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how much money is owed to HM Revenue and Customs by those whom they have contacted repeatedly to pay what they owe, as described in paragraph 2.4 of the HM Revenue and Customs report Direct Recovery of Debts published on 6 May 2014.
	tabling member printed	Lord Howard of Rising
	uin	HL827
	answer	answer is ministerial correction date of answer 14/07/2014 answer text <p>The additional tax revenue HM Revenue and Customs (HMRC) expects to collect through the use of this policy is represented in Table 2.1 of the Budget 2014 document.</p><p> </p><p> </p><p>As set out in paragraph 2.12 of the Direct Recovery of Debts consultation document, HMRC estimates that this measure will apply to around 17,000 debtors a year, who have an average of £5,800 in tax and tax credit debts and around £20,000 in their bank and building society accounts.</p> answering member printed Lord Deighton question first answered 14/07/2014 16:13:21 answering member 4262 label Biography information for Lord Deighton
	tabling member	3674 label Biography information for Lord Howard of Rising

61920

	registered interest
	date	16/06/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Unpaid Fines
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what value of fines remained unpaid at the end of financial years 2009–10, 2010–11 and 2011–12 (1) in total, and (2) with respect to fines issued in that financial year.
	tabling member printed	Lord Howard of Rising
	uin	HL338
	answer	answer is ministerial correction date of answer 26/06/2014 answer text <p>We have answered this question on the basis that it relates to HMRC penalties.</p><p> </p><p>1) 2009-10 £0.5 billion</p><p>2010-11 £1.5 billion</p><p>2011-12 £1.5 billion</p><p> </p><p>Fines and Penalties that remain unpaid are included as receivables and are reported in both the Resource Accounts and Trust Statement.</p><p> </p><p> </p><p>2) It is not possible to state the value of fines issued in each of the financial years. The question is very broad in scope and covers the majority of the business of the Department. Some data is held in electronic systems and some in paper files, and records are not kept centrally of the value of fines issued across the Department and across all obligations.</p> answering member printed Lord Deighton question first answered 26/06/2014 15:12:28 answering member 4262 label Biography information for Lord Deighton
	tabling member	3674 label Biography information for Lord Howard of Rising

63774

	registered interest
	date	24/06/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Unemployment: Young People
	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 impact of the euro on youth unemployment in the European Union.
	tabling member printed	Lord Pearson of Rannoch
	uin	HL558
	answer	answer is ministerial correction date of answer 01/07/2014 answer text <p>We have made no specific assessment. However the Government recognises that unemployment is the biggest social challenge facing the EU today, caused by slow growth and labour market barriers in Europe. Solving youth unemployment should involve creating flexible labour markets across the EU, and this is a matter of national competence.</p> answering member printed Lord Deighton question first answered 01/07/2014 14:47:21 answering member 4262 label Biography information for Lord Deighton
	tabling member	3153 label Biography information for Lord Pearson of Rannoch