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1002244

	registered interest
	date	05/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Overseas Loans: Republic of Ireland
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how much they have loaned to the Republic of Ireland during the past decade; and of those loans, (1) what capital has been repaid, and (2) how much interest has been received.
	tabling member printed	Lord Kilclooney
	uin	HL11265
	answer	answer is ministerial correction date of answer 21/11/2018 answer text <p>I refer the noble Lord to the most recent statutory report under section 2 of the Loans to Ireland Act 2010, which was laid in Parliament on 15 October 2018. The report shows that the outstanding principal is £3,226,960,000, with repayments due in tranches from 15 April 2019 until 26 March 2021. Interest payments have been paid twice-yearly since 15 December 2011 and payments received so far total £483,359,983.93. The government expects the loan to be repaid on time and in full.</p><p> </p><p>[1] The statutory report is available here: <a href="https://www.gov.uk/government/publications/report-under-section-2-of-the-loans-to-ireland-act-2010-1-april-2018-to-30-september-2018" target="_blank">https://www.gov.uk/government/publications/report-under-section-2-of-the-loans-to-ireland-act-2010-1-april-2018-to-30-september-2018</a></p><p> </p><p> </p> answering member printed Lord Bates question first answered 21/11/2018 15:45:58 answering member 1091 label Biography information for Lord Bates attachment 1 file name Ireland_loan_statutory_report_September_2018_web.pdf title Loans to Ireland
	tabling member	657 label Biography information for Lord Kilclooney

1273492

	registered interest
	date	30/12/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Overseas Loans: Republic of Ireland
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what interest has been paid by the Republic of Ireland for loans made under the Loans to Ireland Act 2010; and when any such loans are expected to be repaid.
	tabling member printed	Lord Kilclooney
	uin	HL11669
	answer	answer is ministerial correction date of answer 14/01/2021 answer text <p>The latest statutory report under section 2 of the Loans to Ireland Act 2010 discloses all interest payments made up to 30 September 2020. Since that date, Ireland has made one further regular interest payment, and one further tranche repayment with associated interest. Ireland is scheduled to repay the final tranche in March 2021. The Government continues to expect the loan to be repaid in full and on time.</p> answering member printed Lord Agnew of Oulton question first answered 14/01/2021 15:46:50 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	657 label Biography information for Lord Kilclooney

1302700

	registered interest
	date	15/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Northern Ireland Protocol: Freeports
	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 implications of the Northern Ireland Protocol for the selection of any Northern Ireland ports as freeports.
	tabling member printed	Lord Kilclooney
	uin	HL14224
	answer	answer is ministerial correction date of answer 23/03/2021 answer text We want to ensure that the whole of the UK can benefit from Freeports. The UK Government is holding ongoing discussions with the Northern Ireland Executive to establish at least one Freeport in Northern Ireland as soon as possible.<p> </p><p>The Northern Ireland Protocol does not prevent the establishment of Freeports in Northern Ireland. However, it is appropriate that we take the time, working with the Northern Ireland Executive, to ensure the Freeport offer fully aligns with the circumstances in Northern Ireland and our international obligations, and delivers for ports, businesses and communities in Northern Ireland.</p> answering member printed Lord Agnew of Oulton question first answered 23/03/2021 14:29:20 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	657 label Biography information for Lord Kilclooney

1339652

	registered interest
	date	23/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Freeports: Northern Ireland
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to identify a freeport within Northern Ireland.
	tabling member printed	Lord Kilclooney
	uin	HL1350
	answer	answer is ministerial correction date of answer 06/07/2021 answer text <p>Freeports will be national hubs for international trade, innovation and commerce, regenerating communities across the UK by attracting new businesses, spreading jobs, investment and opportunity to towns and cities up and down the country.</p><p> </p><p>We want to ensure that the whole of the UK can benefit. We remain committed to establishing at least one Freeport in Northern Ireland as soon as possible.</p> answering member printed Lord Agnew of Oulton question first answered 06/07/2021 11:12:53 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	657 label Biography information for Lord Kilclooney

1362403

	registered interest
	date	21/10/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Air Passenger Duty: Northern Ireland
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether Airport Passenger Duty is applied to internal flights from Northern Ireland within the UK; and if so, what plans there are for this to cease.
	tabling member printed	Lord Kilclooney
	uin	HL3294
	answer	answer is ministerial correction date of answer 04/11/2021 answer text <p>Air Passenger Duty (APD) is a per-passenger tax levied on flights departing from UK airports, including those between Northern Ireland and Great Britain.</p><p> </p><p>At Budget, the Government announced that, from April 2023, it would introduce a new reduced domestic band of APD, covering flights between England, Scotland, Wales and Northern Ireland, in order to support connectivity across the UK.</p> answering member printed Lord Agnew of Oulton question first answered 04/11/2021 15:46:49 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	657 label Biography information for Lord Kilclooney

1367667

	registered interest
	date	09/11/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Life Insurance: Foreign Companies
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government which organisation oversees firms which provide life insurance policies for persons in the UK.
	tabling member printed	Lord Kilclooney
	uin	HL3884
	answer	answer is ministerial correction date of answer 23/11/2021 answer text <p>The Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) oversee firms which provide life insurance policies for those in the UK.</p><p>The Prudential Regulatory Authority (PRA), which is part of the Bank of England, promotes the safety and soundness of insurers, and the protection of policyholders. This includes arrangements for protecting customers in the event of an insurer failing, via the Financial Services Compensation Scheme.</p><p>The Financial Conduct Authority (FCA) regulates the conduct of insurers, as well as more broadly the integrity of the UK’s financial markets. The FCA also has an objective to secure an appropriate degree of protection for consumers.</p> answering member printed Lord Agnew of Oulton question first answered 23/11/2021 14:01:21 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	657 label Biography information for Lord Kilclooney

1380057

	registered interest
	date	18/11/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Overseas Loans: Republic of Ireland
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether the outstanding loan principal due by the Republic of Ireland has been fully repaid; and what were the total interest payments received from the Republic of Ireland.
	tabling member printed	Lord Kilclooney
	uin	HL4195
	answer	answer is ministerial correction date of answer 30/11/2021 answer text <p>Ireland received a loan of a total of £3,226,960,000 under the Loans to Ireland Act 2010, which has been repaid in full as of 31 March 2021. The total interest paid was £628,677,551.77.</p> answering member printed Lord Agnew of Oulton question first answered 30/11/2021 13:10:35 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	657 label Biography information for Lord Kilclooney

1640207

	registered interest
	date	24/05/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Expenditure: Northern Ireland
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what was the most recent annual credit to Northern Ireland as a result of the Barnett Formula.
	tabling member printed	Lord Kilclooney
	uin	HL8095
	answer	answer is ministerial correction date of answer 05/06/2023 answer text <p>As set out recently in the Main Estimates memoranda, the Northern Ireland Executive has received £2.0 billion through the Barnett formula for 2023-24 on top of the Spending Review 2021 baseline. This means the Northern Ireland Executive’s total block grant (Total DEL) funding for 2023-24 is £15.8 billion.</p><p> </p><p><strong> </strong></p> answering member printed Baroness Penn question first answered 05/06/2023 14:45:15 answering member 4726 label Biography information for Baroness Penn
	tabling member	657 label Biography information for Lord Kilclooney

166647

	registered interest
	date	27/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether the devolution of corporation tax is proposed for (1) Scotland, (2) Wales, and (3) Northern Ireland.
	tabling member printed	Lord Kilclooney
	uin	HL3238
	answer	answer is ministerial correction date of answer 16/12/2014 answer text <p>The Smith Commission reported on 27 November and the Government has announced it will now prepare draft legislative clauses to implement the Heads of Agreement by the end of January. The Smith Commission did not agree that corporation tax would be devolved to Scotland.</p><p> </p><p> </p><p> </p><p>The Wales Bill, currently in Parliament, provides the legislative framework to support the implementation of the recommendations made in the first report of the Commission on Devolution in Wales (Silk Commission). The Wales Bill does not feature any devolution of corporation tax powers to Wales.</p><p> </p><p> </p><p> </p><p>At Autumn Statement 2014, the Government announced that the devolution of a corporation tax rate-setting power to Northern Ireland could be implemented provided that the Northern Ireland Executive is able to manage the financial implications. The parties in the Northern Ireland Executive are continuing talks aimed at resolving a number of issues including agreeing budgets for 2015-16 and putting the Executive’s finances on a sustainable footing for the future.</p><p> </p><p> </p><p> </p><p>Northern Ireland faces unique cross-border challenges from the very low corporation tax rate in the Republic, significant over-reliance on public sector employment and the challenging legacy of the Troubles. The devolution of corporation tax to Northern Ireland recognises those factors and is consistent with the UK’s asymmetrical approach to devolution.</p><p> </p><p> </p><p> </p><p>Any devolution of tax powers, such as corporation tax rate-setting powers, would require a corresponding reduction in the block grant to reflect the tax revenues that the UK Government would forego.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3239 question first answered 16/12/2014 16:29:28 answering member 4262 label Biography information for Lord Deighton
	tabling member	657 label Biography information for Lord Kilclooney

166648

	registered interest
	date	27/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government whether they consider that the devolution of corporation tax to Scotland, Wales, or Northern Ireland would cause a reduction in the block grant under the Barnett Formula to any of those devolved administrations.
	tabling member printed	Lord Kilclooney
	uin	HL3239
	answer	answer is ministerial correction date of answer 16/12/2014 answer text <p>The Smith Commission reported on 27 November and the Government has announced it will now prepare draft legislative clauses to implement the Heads of Agreement by the end of January. The Smith Commission did not agree that corporation tax would be devolved to Scotland.</p><p> </p><p> </p><p> </p><p>The Wales Bill, currently in Parliament, provides the legislative framework to support the implementation of the recommendations made in the first report of the Commission on Devolution in Wales (Silk Commission). The Wales Bill does not feature any devolution of corporation tax powers to Wales.</p><p> </p><p> </p><p> </p><p>At Autumn Statement 2014, the Government announced that the devolution of a corporation tax rate-setting power to Northern Ireland could be implemented provided that the Northern Ireland Executive is able to manage the financial implications. The parties in the Northern Ireland Executive are continuing talks aimed at resolving a number of issues including agreeing budgets for 2015-16 and putting the Executive’s finances on a sustainable footing for the future.</p><p> </p><p> </p><p> </p><p>Northern Ireland faces unique cross-border challenges from the very low corporation tax rate in the Republic, significant over-reliance on public sector employment and the challenging legacy of the Troubles. The devolution of corporation tax to Northern Ireland recognises those factors and is consistent with the UK’s asymmetrical approach to devolution.</p><p> </p><p> </p><p> </p><p>Any devolution of tax powers, such as corporation tax rate-setting powers, would require a corresponding reduction in the block grant to reflect the tax revenues that the UK Government would forego.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3238 question first answered 16/12/2014 16:29:28 answering member 4262 label Biography information for Lord Deighton
	tabling member	657 label Biography information for Lord Kilclooney