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1548297
star this property registered interest false more like this
unstar this property date less than 2022-12-05more like thismore than 2022-12-05
star this property answering body
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 Treasury remove filter
star this property hansard heading Personal Income: National Insurance Contributions 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 His Majesty's Government what plans they have to provide financial support to those experiencing a decrease in income as a result of an increase in National Insurance contributions. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
unstar this property uin HL4041 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2022-12-15more like thismore than 2022-12-15
star this property answer text 30 million people will be better off by an average of £480 in 2023-24 due to changes made to National Insurance Contribution (NICs) thresholds and rates earlier this year.  more like this
star this property answering member printed Baroness Penn more like this
star this property question first answered
less than 2022-12-15T16:45:06.78Zmore like thismore than 2022-12-15T16:45:06.78Z
star this property answering member
4726
star this property label Biography information for Baroness Penn more like this
unstar this property tabling member
1796
unstar this property label Biography information for Lord Taylor of Warwick more like this
1168597
star this property registered interest false more like this
unstar this property date less than 2019-12-19more like thismore than 2019-12-19
star this property answering body
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 Treasury remove filter
star this property hansard heading Social Security Benefits: Children 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 was their total spending, in constant prices, on (1) child benefit, and (2) income-related benefits, for children for each year since 2000. more like this
star this property tabling member printed
Baroness Lister of Burtersett more like this
unstar this property uin HL55 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2020-01-07more like thismore than 2020-01-07
star this property answer text <ol><li>Child Benefit</li></ol><p> </p><p>Total Child Benefit payments, in real terms at 2019/20 prices, since 2000 can be found in the <em>Benefit expenditure and caseload tables 2019</em> published by the Department for Work and Pensions. This information has been presented below (Table 1) for the years for which outturn data is available.</p><p> </p><p>Table 1 - Child Benefit expenditure, real terms (2019/20 prices),</p><table><tbody><tr><td><p> </p></td><td><p>£billions</p></td></tr><tr><td><p>2000-01</p></td><td><p>12.6</p></td></tr><tr><td><p>2001-02</p></td><td><p>12.6</p></td></tr><tr><td><p>2002-03</p></td><td><p>12.5</p></td></tr><tr><td><p>2003-04</p></td><td><p>12.9</p></td></tr><tr><td><p>2004-05</p></td><td><p>12.8</p></td></tr><tr><td><p>2005-06</p></td><td><p>12.7</p></td></tr><tr><td><p>2006-07</p></td><td><p>12.8</p></td></tr><tr><td><p>2007-08</p></td><td><p>13.1</p></td></tr><tr><td><p>2008-09</p></td><td><p>13.5</p></td></tr><tr><td><p>2009-10</p></td><td><p>14</p></td></tr><tr><td><p>2010-11</p></td><td><p>14.1</p></td></tr><tr><td><p>2011-12</p></td><td><p>14</p></td></tr><tr><td><p>2012-13</p></td><td><p>13.7</p></td></tr><tr><td><p>2013-14</p></td><td><p>12.6</p></td></tr><tr><td><p>2014-15</p></td><td><p>12.6</p></td></tr><tr><td><p>2015-16</p></td><td><p>12.6</p></td></tr><tr><td><p>2016-17</p></td><td><p>12.3</p></td></tr><tr><td><p>2017-18</p></td><td><p>12</p></td></tr></tbody></table><p><em>Notes:</em></p><p><em>- Real terms, 2019/20 prices</em></p><p><em>- Figures presented are based on outturn data</em></p><p><em>Source:</em></p><p><em>- Benefit-expenditure-and-caseload-tables-2019</em></p><p> </p><p> </p><p>2. Income-related benefits</p><p> </p><p>The information requested relating to Universal Credit is not held and can only be made available at a disproportionate cost.</p><p> </p><p>Expenditure in real terms is available in respect of Income Support and income-based Jobseeker’s Allowance on child elements in DWP Benefit expenditure and caseload tables. Again, to be helpful, this information has been presented below (Table 2) for the years for which outturn data is available.</p><p> </p><p>Table 2 - Income Support and income-based Jobseeker’s Allowance on child elements, real terms (2019-20 prices),</p><table><tbody><tr><td><p> </p></td><td><p>Income Support (£millions)</p></td><td><p>Jobseeker's Allowance (£millions)</p></td></tr><tr><td><p>2000-01</p></td><td><p>4,270</p></td><td><p>442</p></td></tr><tr><td><p>2001-02</p></td><td><p>4,774</p></td><td><p>408</p></td></tr><tr><td><p>2002-03</p></td><td><p>5,121</p></td><td><p>406</p></td></tr><tr><td><p>2003-04*</p></td><td><p>5,151</p></td><td><p>351</p></td></tr><tr><td><p>2004-05</p></td><td><p>4,381</p></td><td><p>191</p></td></tr><tr><td><p>2005-06</p></td><td><p>3,290</p></td><td><p>31</p></td></tr><tr><td><p>2006-07</p></td><td><p>2,593</p></td><td><p>15</p></td></tr><tr><td><p>2007-08</p></td><td><p>2,144</p></td><td><p>-</p></td></tr><tr><td><p>2008-09</p></td><td><p>1,749</p></td><td><p>-</p></td></tr><tr><td><p>2009-10</p></td><td><p>1,039</p></td><td><p>-</p></td></tr><tr><td><p>2010-11</p></td><td><p>737</p></td><td><p>-</p></td></tr><tr><td><p>2011-12</p></td><td><p>518</p></td><td><p>-</p></td></tr><tr><td><p>2012-13</p></td><td><p>329</p></td><td><p>-</p></td></tr><tr><td><p>2013-14</p></td><td><p>190</p></td><td><p>-</p></td></tr><tr><td><p>2014-15</p></td><td><p>130</p></td><td><p>-</p></td></tr><tr><td><p>2015-16</p></td><td><p>87</p></td><td><p>-</p></td></tr><tr><td><p>2016-17</p></td><td><p>63</p></td><td><p>-</p></td></tr><tr><td><p>2017-18</p></td><td><p>44</p></td><td><p>-</p></td></tr></tbody></table><p><em>Notes:</em></p><p><em>- Real terms, 2019/20 prices</em></p><p><em>- Figures presented are based on outturn data</em></p><p><em>- *since Apr 2004, financial support for children is normally provided through Child Tax Credit</em></p><p><em>Source:</em></p><p><em>- Benefit-expenditure-and-caseload-tables-2019</em></p><p> </p><p>Annual expenditure on tax credits cannot be broken down between Child Tax Credits and Working Tax Credits. However, this breakdown is available for the closely related measure of annual tax credits entitlement, and provided in Table 3 below. The main difference between tax credits entitlement and tax credits payments is that entitlement figures are based on the amounts households are entitled to once awards have been finalised, whereas payments are based on provisional awards which may differ from final awards, and can include payments and repayments in respect of earlier years.</p><p>Table 3 - Annual entitlement to Child Tax Credit (introduced 2003-04), real terms (2019-20 prices),</p><table><tbody><tr><td><p> </p></td><td><p>£millions</p></td></tr><tr><td><p>2003-04</p></td><td><p>n/a</p></td></tr><tr><td><p>2004-05</p></td><td><p>18,128</p></td></tr><tr><td><p>2005-06</p></td><td><p>18,255</p></td></tr><tr><td><p>2006-07</p></td><td><p>18,874</p></td></tr><tr><td><p>2007-08</p></td><td><p>19,351</p></td></tr><tr><td><p>2008-09</p></td><td><p>21,653</p></td></tr><tr><td><p>2009-10</p></td><td><p>23,336</p></td></tr><tr><td><p>2010-11</p></td><td><p>23,815</p></td></tr><tr><td><p>2011-12</p></td><td><p>24,648</p></td></tr><tr><td><p>2012-13</p></td><td><p>24,405</p></td></tr><tr><td><p>2013-14</p></td><td><p>23,902</p></td></tr><tr><td><p>2014-15</p></td><td><p>23,519</p></td></tr><tr><td><p>2015-16</p></td><td><p>23,112</p></td></tr><tr><td><p>2016-17</p></td><td><p>21,935</p></td></tr><tr><td><p>2017-18</p></td><td><p>20,494</p></td></tr></tbody></table><p> </p><p><em>Notes:</em></p><p><em>- Figures for 2003-04 are not readily available and can only be provided at disproportionate cost.</em></p><p><em> Source:</em></p><p><em>- Nominal figures taken from Table 1.1 of HMRC’s Child and Working Tax Credits Statistics</em></p><p><em>- Real terms 2019-20 prices. To convert the nominal figures into real terms, the GDP deflators published in March 2019 were used.</em></p><p><em>- The estimates for 2016-17 and 2017-18 are affected by the introduction of Universal Credit.</em></p><p><em>- This table does not include entitlement to Working Tax Credit or Working Families Tax Credit as they are not considered income related benefits for children, although they do contain some child related elements.</em></p>
star this property answering member printed The Earl of Courtown more like this
star this property question first answered
less than 2020-01-07T17:27:31.877Zmore like thismore than 2020-01-07T17:27:31.877Z
star this property answering member
3359
star this property label Biography information for The Earl of Courtown more like this
unstar this property tabling member
4234
unstar this property label Biography information for Baroness Lister of Burtersett more like this
172715
star this property registered interest false more like this
unstar this property date less than 2015-01-08more like thismore than 2015-01-08
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 Treasury remove filter
star this property hansard heading Public 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 was the annual budget deficit and what was the structural deficit for each of the last 20 years; and what is their estimate of those figures for the current year and the next two years. more like this
star this property tabling member printed
Lord Greaves more like this
unstar this property uin HL4035 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2015-01-14more like thismore than 2015-01-14
star this property answer text <p>&quot;The independent Office for Budget Responsibility publishes this information in its ‘public finances databank’, the deficit being ‘Public sector net borrowing’ (PSNB) and the structural deficit being ‘Cyclically-adjusted net borrowing’ (CANB). The data are set out in the table below:</p><p> </p><p> </p><p> </p><table><tbody><tr><td><p>£bn</p></td><td><p>1994-95</p></td><td><p>1995-96</p></td><td><p>1996-97</p></td><td><p>1997-98</p></td><td><p>1998-99</p></td><td><p>1999-00</p></td><td><p>2000-01</p></td><td><p>2001-02</p></td></tr><tr><td><p>PSNB</p></td><td><p>43.8</p></td><td><p>35.3</p></td><td><p>27.7</p></td><td><p>5.8</p></td><td><p>-4.6</p></td><td><p>-14.8</p></td><td><p>-17.2</p></td><td><p>0.6</p></td></tr><tr><td><p>CANB</p></td><td><p>37.8</p></td><td><p>25.6</p></td><td><p>24</p></td><td><p>14.1</p></td><td><p>7.9</p></td><td><p>-1</p></td><td><p>-5.1</p></td><td><p>7.7</p></td></tr><tr><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr><tr><td><p>£bn</p></td><td><p>2002-03</p></td><td><p>2003-04</p></td><td><p>2004-05</p></td><td><p>2005-06</p></td><td><p>2006-07</p></td><td><p>2007-08</p></td><td><p>2008-09</p></td><td><p>2009-10</p></td></tr><tr><td><p>PSNB</p></td><td><p>26.6</p></td><td><p>31.5</p></td><td><p>43.6</p></td><td><p>41</p></td><td><p>36.3</p></td><td><p>40.3</p></td><td><p>100.3</p></td><td><p>153</p></td></tr><tr><td><p>CANB</p></td><td><p>27.2</p></td><td><p>36.4</p></td><td><p>52.3</p></td><td><p>48.8</p></td><td><p>44.7</p></td><td><p>58.3</p></td><td><p>99.5</p></td><td><p>121.9</p></td></tr><tr><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr><tr><td><p>£bn</p></td><td><p>2011-12</p></td><td><p>2012-13</p></td><td><p>2013-14</p></td><td><p>2014-15</p></td><td><p>2015-16</p></td><td><p>2016-17</p></td><td> </td><td> </td></tr><tr><td><p>PSNB</p></td><td><p>112.4</p></td><td><p>119.4</p></td><td><p>97.5</p></td><td><p>91.3</p></td><td><p>75.9</p></td><td><p>40.9</p></td><td> </td><td> </td></tr><tr><td><p>CANB</p></td><td><p>81.8</p></td><td><p>86.2</p></td><td><p>70.6</p></td><td><p>77.4</p></td><td><p>68</p></td><td><p>34.8</p></td><td> </td><td> </td></tr></tbody></table><p> </p><p> </p><p> </p><p>The outturn years are consistent with data published by the Office for National Statistics and the forecast years consistent with the ‘Economic and fiscal outlook’ published by the Office for Budget Responsibility in December 2014.</p><p> </p>
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2015-01-14T17:34:10.423Zmore like thismore than 2015-01-14T17:34:10.423Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
unstar this property tabling member
2569
unstar this property label Biography information for Lord Greaves more like this
1133783
star this property registered interest false more like this
unstar this property date less than 2019-06-20more like thismore than 2019-06-20
star this property answering body
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 Treasury remove filter
star this property hansard heading Gambling: 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 gambling activities are subject to (1) value-added tax, and (2) gross profits tax; and how much value-added tax was collected from adult gaming centres in England and Wales in (a) 2017, and (b) 2018. more like this
star this property tabling member printed
Lord Browne of Belmont more like this
unstar this property uin HL16534 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-03more like thismore than 2019-07-03
star this property answer text <p>(1) Almost all gambling activities are exempt from value added tax (VAT). However, VAT does apply to prize machines that offer non-cash prizes only. Such machines are not typically located in adult gaming centres.</p><p> </p><p>(2) There are seven Gambling Duties. Of these, six are based broadly on a gross profits tax model. The seventh, Lottery Duty is based on a percentage of the value of ticket sales.</p><p> </p><p>Total receipts from Betting and Gaming are published on the UK Trade Information website. A separate breakdown for value added tax collected from adult gaming centres in England and Wales is not available.</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 2019-07-03T12:01:46.77Zmore like thismore than 2019-07-03T12:01:46.77Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
unstar this property tabling member
3801
unstar this property label Biography information for Lord Browne of Belmont more like this
1662236
star this property registered interest false more like this
unstar this property date less than 2023-09-20more like thismore than 2023-09-20
star this property answering body
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 Treasury remove filter
star this property hansard heading Trader Support Service and UK Internal Trade 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 His Majesty's Government what has been the total cost so far of setting up (1) the UK Internal Market Scheme, and (2) the Trader Support Service. more like this
star this property tabling member printed
Baroness Hoey more like this
unstar this property uin HL10365 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2023-10-04more like thismore than 2023-10-04
star this property answer text <p>(1) The UK Internal Market Scheme (UKIMS) will replace the UK Trader Scheme (UKTS) on 30 September 2023. The launch of the UKIMS is an operational activity and delivered through resources in place to manage the UKTS</p><p> </p><p>(2) The total cost of setting up and running TSS (August 2020-August 2023) is £411.6m. The TSS cost figures quoted do not include any HMRC operational spend on UKIMS, however they may include some spend on the TSS's own readiness activities for UKIMS.</p><p>We are not able to provide a figure for spend on UKIMS because we do not hold the information at that granular level, where the scheme has been delivered as part of a wider programme of work. For example, operational staff will be trained to work on UKIMS as well as other related areas and trying to estimate exact cost could lead to inaccuracies in reporting.</p> more like this
star this property answering member printed Baroness Penn more like this
star this property question first answered
less than 2023-10-04T13:25:37.853Zmore like thismore than 2023-10-04T13:25:37.853Z
star this property answering member
4726
star this property label Biography information for Baroness Penn more like this
unstar this property tabling member
210
unstar this property label Biography information for Baroness Hoey more like this
1437990
star this property registered interest false more like this
unstar this property date less than 2022-03-03more like thismore than 2022-03-03
star this property answering body
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 Treasury remove filter
star this property hansard heading Gambling: Internet 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 estimate they have made of the loss of (1) tax revenue, and (2) Horse Racing Levy income, due to illegal online gambling. more like this
star this property tabling member printed
Viscount Astor more like this
unstar this property uin HL6588 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2022-03-10more like thismore than 2022-03-10
star this property answer text <p>(1) The information requested is not available: HM Revenue and Customs (HMRC) does not make an estimate of the amount of revenue lost through illegal online gambling.</p><p> </p><p>HMRC estimates the tax gap[1], the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. For the tax year 2019 to 2020, the other excise duties tax gap, which includes betting and gaming, cider and perry, spirits-based ready-to-drink beverages and wine duties was £610 million.</p><p> </p><p>(2) The Horserace Betting Levy Board (HBLB)[2] is an executive non-departmental public body, sponsored by the Department for Digital, Culture, Media and Sport; and is required to collect a statutory levy, the Horserace Betting Levy. The information requested is not available from HMRC.</p><p> </p><p>[1] Tax gap statistics are available at: <a href="https://www.gov.uk/government/statistics/measuring-tax-gaps" target="_blank">Measuring tax gaps - GOV.UK (www.gov.uk)</a>.</p><p> </p><p>[2] Horserace Betting Levy Board has a separate website: <a href="https://www.hblb.org.uk/" target="_blank">https://www.hblb.org.uk/</a></p>
star this property answering member printed Baroness Penn more like this
star this property question first answered
less than 2022-03-10T16:16:10.017Zmore like thismore than 2022-03-10T16:16:10.017Z
star this property answering member
4726
star this property label Biography information for Baroness Penn more like this
unstar this property tabling member
3429
unstar this property label Biography information for Viscount Astor more like this
1144865
star this property registered interest false more like this
unstar this property date less than 2019-09-04more like thismore than 2019-09-04
star this property answering body
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 Treasury remove filter
star this property hansard heading Workplace Pensions: Tax Allowances 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, with respect to the National Statistics data published in April, which estimated the total cost of pension tax relief in respect of registered pension schemes for the year ending 5 April 2018 at £36.3 billion including £4.3 billion in tax relief on employee contributions to occupational pension schemes, (1) what is the estimated figure of gross pension contributions on which this figure was based, and (2) what specific assumptions were made as to the rates of tax applicable in arriving at the figure of £4.3 billion; and whether these assumptions included that all employees making contributions to occupational schemes receive the full tax relief to which they are entitled, including those contributing to net pay pension schemes. more like this
star this property tabling member printed
Baroness Altmann more like this
unstar this property uin HL17699 more like this
star this property answer
answer
unstar this property is ministerial correction true more like this
star this property date of answer less than 2019-09-09more like thismore than 2019-09-09
star this property answer text <p><del class="ministerial">It has not proved possible to respond to this question in the time available before Prorogation. Ministers will correspond directly with the Member.</del></p><p> </p><p><ins class="ministerial">HMRC publishes estimates of the cost of pension tax relief which is available in table 6 of HM Revenue and Customs Personal Pension Statistics on Gov.uk. </ins></p><p><ins class="ministerial"><em> </em></ins></p><p><ins class="ministerial">These estimates were revised on 26<sup>th</sup> September 2019 as part of an overall update to HMRC’s Personal Pension and Pension Relief statistics. Estimates of the cost of tax relief on contributions are produced using the Annual Survey of Hours and Earnings (ASHE) for income, individual and employer contributions for members of pension schemes that use the net pay mechanism; and administrative data HMRC holds on relief at source administrative data matched to the Survey of Personal Incomes (SPI) - for income, individual and employer pension contributions for members of pension schemes that use the relief at source mechanism.</ins></p><p><ins class="ministerial"> </ins></p><p><ins class="ministerial">The cost of tax relief for all contributions made by individuals is approximately £6.3bn, broken down as the cost of relief on employee contributions to occupational schemes (£4.2bn), to personal pension schemes (£1.6bn), and self-employed contributions to pensions (£0.5bn). Occupational pensions here includes some master trust pension schemes which use the relief at source method. Personal pensions here includes workplace personal pension schemes (such as group personal pensions).</ins></p><p><ins class="ministerial"> </ins></p><p><ins class="ministerial">i) The £4.3bn figure referenced is the cost of pension tax relief relating to occupational pension schemes. Estimates of the cost of pension tax relief were revised on September 26<sup>th</sup> 2019 as part of an overall update to HMRC’s Personal Pensions and Pension Relief Statistics. The £4.3bn figure referenced has since been revised to £4.2bn. </ins></p><p><ins class="ministerial"> </ins></p><p><ins class="ministerial">This £4.2bn figure of tax relief is derived from around £15.9bn of estimated “relievable” individual pension contributions to occupational pension schemes, (where “relievable” refers to our best estimates of contributions which are within the individual’s pensions Annual Allowance). </ins></p><p><ins class="ministerial"> </ins></p><p><ins class="ministerial">ii) Marginal rate tax relief is applied to these estimates of “relievable” contributions as if these contributions were taxed. Estimates are produced assuming all members contributing to all pension schemes receive full marginal rate tax relief on their contributions.</ins></p><p><ins class="ministerial"><em> </em></ins></p><p><ins class="ministerial">As noted in the publication, costs are subject to large revisions and have a particularly wide margin of error – reflecting the variety of sources of data (both administrative and survey) required to produce these estimates.</ins></p>
star this property answering member printed The Earl of Courtown more like this
star this property question first answered
less than 2019-09-09T16:33:08.633Zmore like thismore than 2019-09-09T16:33:08.633Z
star this property question first ministerially corrected
less than 2019-10-08T12:38:27.003Zmore like thismore than 2019-10-08T12:38:27.003Z
star this property answering member
3359
star this property label Biography information for The Earl of Courtown more like this
star this property previous answer version
135351
star this property answering member printed The Earl of Courtown more like this
star this property answering member
3359
star this property label Biography information for The Earl of Courtown more like this
unstar this property tabling member
4533
unstar this property label Biography information for Baroness Altmann more like this
1130253
star this property registered interest false more like this
unstar this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
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 Treasury remove filter
star this property hansard heading Mortgages 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 consequences for depositor protection and financial stability from the number of lenders offering residential property mortgage loans at 95 per cent of value or higher; and what options are open to (1) them, (2) the Bank of England, and (3) the Prudential Regulation Authority, to protect depositors and ensure financial stability. more like this
star this property tabling member printed
Lord Myners more like this
unstar this property uin HL16114 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p><em>The Financial Policy Committee (FPC) of the Bank of England was set up to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system as part of the new financial regulatory framework legislated for under The Financial Services Act 2012. The FPC noted in their November 2018 Financial Stability Report that the share of households with high mortgage debt-servicing ratios (DSRs) is close to historical lows. The FPC has powers of direction to place limits on the proportion of new mortgages that a bank can extend at high LTV ratios, if it judges that this is required to mitigate financial stability risks.</em></p><p><em> </em></p><em> </em><p><em>While the Bank therefore has powers to tackle these risks, the Financial Services Compensation Scheme (FSCS), set up by the Government in 2001, also provides a key role in ensuring financial stability and protecting depositors. The FSCS provides deposit protection of up to £85,000 per person, per authorised firm. The Financial Services Markets Act 2000 gives powers to the regulators, including the Prudential Regulation Authority (PRA) to make the rules in which FSCS carries out its compensation function.</em></p><p> </p>
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-06-19T16:43:39.46Zmore like thismore than 2019-06-19T16:43:39.46Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
unstar this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1130250
star this property registered interest false more like this
unstar this property date less than 2019-06-05more like thismore than 2019-06-05
star this property answering body
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 Treasury remove filter
star this property hansard heading Financial Markets 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 have reviewed the market liquidity in the subprime sterling bond market in the context of increased bond issuance. more like this
star this property tabling member printed
Lord Myners more like this
unstar this property uin HL16111 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-19more like thismore than 2019-06-19
star this property answer text <p><em>The Financial Policy Committee (FPC) of the Bank of England was set up to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing the resilience of the UK financial system as part of the new financial regulatory framework legislated for under The Financial Services Act 2012. The FPC set out its most recent assessment of financial stability risks, including from the sterling bond market, in its March 2019 Policy Summary, in which it noted that post-crisis reforms have made dealers, on which some markets rely, more resilient, reducing the probability that market-making losses could lead to their distress or failure. In addition, the FPC noted that during the more recent period of volatility at the end of 2018, pension funds and insurers had acted as net buyers of sterling corporate bonds. Notwithstanding this, new business models mean that liquidity conditions in corporate debt markets could change quickly in event of stress.</em> <em>However, overall the FPC judged that markets had proved able to function effectively through volatile periods, and the strength of the core financial system, including banks, dealers and insurance companies, would support the functioning of markets on which the economy relied.</em></p>
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-06-19T16:43:32.243Zmore like thismore than 2019-06-19T16:43:32.243Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
unstar this property tabling member
3869
unstar this property label Biography information for Lord Myners more like this
1648316
star this property registered interest false more like this
unstar this property date less than 2023-06-27more like thismore than 2023-06-27
star this property answering body
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 Treasury remove filter
star this property hansard heading Duty Free Allowances 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 His Majesty's Government what assessment they have made of the successes of duty free on arrival stores in the 65 other countries that have legislated for these; and whether they intend to assess the potential merits of implementing arrivals duty free in the UK. more like this
star this property tabling member printed
Baroness Altmann more like this
unstar this property uin HL8801 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2023-07-06more like thismore than 2023-07-06
star this property answer text <p><strong> </strong></p><p>Duty-free on arrival would place additional pressure on the public finances to which excise duty makes a significant contribution. Tax generated by the Government helps fund key spending priorities such as important public services, including the NHS, education, and defence.</p><p> </p><p>Although there are no plans to introduce a duty-free on arrival scheme, the Government keeps all taxes under review and welcomes representations to help inform future decisions on tax policy, as part of the tax policy making cycle and Budget process.</p> more like this
star this property answering member printed Baroness Penn more like this
star this property grouped question UIN HL8802 more like this
star this property question first answered
less than 2023-07-06T15:21:10.92Zmore like thismore than 2023-07-06T15:21:10.92Z
star this property answering member
4726
star this property label Biography information for Baroness Penn more like this
unstar this property tabling member
4533
unstar this property label Biography information for Baroness Altmann more like this