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100015
star this property registered interest false remove filter
star this property date remove maximum value filtermore like thismore than 2014-10-20
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 UK Trade with EU more like this
star this property house id 2 remove filter
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, in the light of the risk of the Eurozone returning to recession and the statement by the Chancellor of Exchequer that Britain could not be immune from any such event, they plan to encourage industry and commerce to diversify their markets and reduce their reliance on the European Union market. more like this
star this property tabling member printed
Lord Stoddart of Swindon more like this
star this property uin HL2230 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 2014-11-03more like thismore than 2014-11-03
star this property answer text <p>We have to recognise that the UK is not immune to problems elsewhere in the world. The UK has one of the most open economies in the world through trade and financial channels. In particular, growth in the euro area – our largest trading partner – is weak and we have to expect that to dampen our own recovery.</p><p> </p><p> </p><p> </p><p>Since entering office, this Government has worked consistently towards a rebalancing of the UK economy and growing our trade with all parts of the world, including key emerging markets. Since 2010, for example, UKTI has increased the number of its overseas-based staff working outside the EU from 875 to 1060, reflecting the growing priority being given to non-EU markets; and, excluding aircraft, nearly all of the exports supported by UK Export Finance in recent years have been to markets outside the EU. Ministers continue to take an active role, including through the Chancellor-led annual Economic and Financial Dialogues with India and China, the most recent of which secured £2.4 billion in bilateral investment deals.</p><p> </p>
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2014-11-03T17:17:00.0750466Zmore like thismore than 2014-11-03T17:17:00.0750466Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
unstar this property tabling member
950
unstar this property label Biography information for Lord Stoddart of Swindon more like this
93430
star this property registered interest false remove filter
star this property date less than 2014-10-14more like thismore than 2014-10-14
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 Sector: Pensions more like this
star this property house id 2 remove filter
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 how many individuals in defined contribution funded public sector pension schemes will withdraw their entire accrued entitlements under the new Freedom and Choice for Pensioner arrangements in the first year from April 2015, and at what cost. more like this
star this property tabling member printed
Lord Laird more like this
star this property uin HL2096 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 2014-10-29more like thismore than 2014-10-29
star this property answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p>
star this property answering member printed Lord Deighton more like this
star this property grouped question UIN
HL2097 more like this
HL2098 more like this
HL2099 more like this
star this property question first answered
less than 2014-10-29T15:20:53.4326554Zmore like thismore than 2014-10-29T15:20:53.4326554Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
unstar this property tabling member
2479
unstar this property label Biography information for Lord Laird more like this
93431
star this property registered interest false remove filter
star this property date less than 2014-10-14more like thismore than 2014-10-14
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 Sector: Pensions more like this
star this property house id 2 remove filter
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 consider that delaying transfer payments and reducing transfer values are sufficient safeguards to stabilise public sector funded pension schemes threatened by large-scale withdrawals under the new Freedom and Choice for Pensioners arrangements. more like this
star this property tabling member printed
Lord Laird more like this
star this property uin HL2097 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 2014-10-29more like thismore than 2014-10-29
star this property answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p>
star this property answering member printed Lord Deighton more like this
star this property grouped question UIN
HL2096 more like this
HL2098 more like this
HL2099 more like this
star this property question first answered
less than 2014-10-29T15:20:53.9247195Zmore like thismore than 2014-10-29T15:20:53.9247195Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
unstar this property tabling member
2479
unstar this property label Biography information for Lord Laird more like this
93432
star this property registered interest false remove filter
star this property date less than 2014-10-14more like thismore than 2014-10-14
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 Sector: Pensions more like this
star this property house id 2 remove filter
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, under their proposed entire pension withdrawal arrangements, they will include in the legislation a power to suspend the concession for such schemes in the event of serious destabilisation of funded public service pension schemes or extreme cost to the Exchequer. more like this
star this property tabling member printed
Lord Laird more like this
star this property uin HL2098 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 2014-10-29more like thismore than 2014-10-29
star this property answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p>
star this property answering member printed Lord Deighton more like this
star this property grouped question UIN
HL2096 more like this
HL2097 more like this
HL2099 more like this
star this property question first answered
less than 2014-10-29T15:20:54.0028001Zmore like thismore than 2014-10-29T15:20:54.0028001Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
unstar this property tabling member
2479
unstar this property label Biography information for Lord Laird more like this
93433
star this property registered interest false remove filter
star this property date less than 2014-10-14more like thismore than 2014-10-14
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 Sector: Pensions more like this
star this property house id 2 remove filter
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 the key difference between trust-based and contract-based public sector defined contribution schemes in relation to the proposed pension withdrawal arrangements; and what was the result of their consultation with the Local Government Pension Scheme on extra safeguards for such trust-based schemes. more like this
star this property tabling member printed
Lord Laird more like this
star this property uin HL2099 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 2014-10-29more like thismore than 2014-10-29
star this property answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p>
star this property answering member printed Lord Deighton more like this
star this property grouped question UIN
HL2096 more like this
HL2097 more like this
HL2098 more like this
star this property question first answered
less than 2014-10-29T15:20:54.0965935Zmore like thismore than 2014-10-29T15:20:54.0965935Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
unstar this property tabling member
2479
unstar this property label Biography information for Lord Laird more like this
93434
star this property registered interest false remove filter
star this property date less than 2014-10-14more like thismore than 2014-10-14
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 Pensions: Northern Ireland more like this
star this property house id 2 remove filter
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 and how the new Freedom and Choice for Pensioners arrangements will apply to Northern Ireland; and whether they have discussed the matter of a legislative consent motion with the Northern Ireland Executive. more like this
star this property tabling member printed
Lord Laird more like this
star this property uin HL2100 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 2014-10-29more like thismore than 2014-10-29
star this property answer text <p>The tax changes necessary to deliver the Freedom and Choice in Pensions agenda are contained in the Taxation of Pensions Bill. The provisions in this Bill will apply across the UK as the relevant tax legislation is not, in the main, a matter over which powers have been devolved.<sup>[</sup><sup>1]</sup> The Pension Schemes Bill is being used to introduce further changes relevant to the Freedom and Choice agenda. Where these do relate to devolved matters in Northern Ireland, the Government is in the process of obtaining the necessary legislative consent motion and approval from the Northern Ireland Assembly.</p><p> </p><p> </p><p>[1] Explanatory notes for the Taxation of Pensions Bill were published on the Parliament Website. Territorial extent is detailed in paragraph 52 http://www.publications.parliament.uk/pa/bills/cbill/2014-2015/0097/en/15097en.htm</p><p> </p><p> </p><p> </p><p> </p> more like this
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2014-10-29T15:21:46.8315879Zmore like thismore than 2014-10-29T15:21:46.8315879Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
unstar this property tabling member
2479
unstar this property label Biography information for Lord Laird more like this
93704
star this property registered interest false remove filter
star this property date less than 2014-10-15more like thismore than 2014-10-15
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 North Sea Oil more like this
star this property house id 2 remove filter
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 the total revenue they have received from the extraction and exploration of North Sea oil. more like this
star this property tabling member printed
Lord Hodgson of Astley Abbotts more like this
star this property uin HL2133 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 2014-10-29more like thismore than 2014-10-29
star this property answer text <p>Government revenues from UK oil and gas production for all years to 2013-14 are published by HM Revenue &amp; Customs (HMRC) as National Statistics on the GOV.UK website[1]. Total revenues can be found in Table 11.11 from the <em>Statistics of Government revenues from UK oil and gas production</em> publication[2].</p><p> </p><p> </p><p> </p><p>The values in Table 11.11 are detailed in current prices, so for previous years they do not reflect the value of total revenue today. The total revenue received from the extraction and exploration of North Sea oil is £187.8 billion in current prices.</p><p> </p><p> </p><p>[1] https://www.gov.uk/government/collections/petroleum-revenue-tax-prt-and-government-revenues-from-uk-oil-and-gas-production</p><p>[2] <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/306225/140424_Table_11_11.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/306225/140424_Table_11_11.pdf</a></p><p> </p>
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2014-10-29T15:24:02.7416658Zmore like thismore than 2014-10-29T15:24:02.7416658Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
unstar this property attachment
1
star this property file name t11.11 gov revenue.docx more like this
star this property title Government revenues from oil and gas production more like this
unstar this property tabling member
1651
unstar this property label Biography information for Lord Hodgson of Astley Abbotts more like this