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1386455

	registered interest
	date	08/12/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Coronavirus Job Retention Scheme
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have, if any, to restart the furlough scheme in case more COVID-19 restrictions are implemented.
	tabling member printed	Lord Taylor of Warwick
	uin	HL4814
	answer	answer is ministerial correction date of answer 17/12/2021 answer text Throughout the pandemic, the Government has demonstrated that it can respond proportionately to the changing path of the virus and will continue to do so.<p> </p>The Government remains committed to taking whatever action is necessary to protect the NHS from being overwhelmed but, as we have stated, more harmful economic and social restrictions would only be considered as a last resort. Since the start of the pandemic, the Government has a strong track record of responding quickly, flexibly, and comprehensively in supporting jobs, businesses, individuals, and families when needed. As part of our £400 billion package of support, businesses will continue to receive considerable support into Spring 2022, including Recovery Loans until June, business rates relief, protection from eviction, and a VAT reduction until March.  answering member printed Lord Agnew of Oulton question first answered 17/12/2021 11:58:32 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1695573

	registered interest
	date	12/03/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what steps they are taking to mitigate any risks associated with trading crypto-backed exchange traded notes by professional investors, particularly in relation to market manipulation and investor protection.
	tabling member printed	Lord Taylor of Warwick
	uin	HL3223
	answer	answer is ministerial correction date of answer 25/03/2024 answer text The question of whether to allow the listing of exchange-traded products that reference cryptoassets is a matter for the Financial Conduct Authority as the independent regulator. answering member printed Baroness Vere of Norbiton question first answered 25/03/2024 17:31:31 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1488587

	registered interest
	date	12/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: VAT
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to introduce VAT relief for small businesses until the end of the tax year.
	tabling member printed	Lord Taylor of Warwick
	uin	HL1717
	answer	answer is ministerial correction date of answer 26/07/2022 answer text The UK’s VAT registration threshold is set at £85,000, which is the highest in the OECD and as compared to EU Member States. This keeps the majority of UK businesses out of VAT altogether.<p> </p>Whilst the Government keeps all taxes under review, it was announced at Budget 2021 that the VAT threshold will be maintained at its current level of £85,000 until 31 March 2024. answering member printed Baroness Penn question first answered 26/07/2022 13:04:22 answering member 4726 label Biography information for Baroness Penn
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1490859

	registered interest
	date	19/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Central Bank Digital Currencies
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to provide an update on the progress of evaluating the potential benefits of a UK Central Bank Digital Currency.
	tabling member printed	Lord Taylor of Warwick
	uin	HL1945
	answer	answer is ministerial correction date of answer 01/08/2022 answer text The UK, like many other countries globally, is actively exploring the potential role of Central Bank Digital Currencies. A range of factors motivate the exploratory work, which the Bank of England has explored in their discussion paper, including: improving access to central bank money; increasing the resilience of payments; and developing more efficient, cheaper payments.<p> </p><p>No decision has yet been made on the issuance of a CBDC, which would be a major national infrastructure project, however; as part of the process of research and exploration, HM Treasury and the Bank of England will publish a consultation later in 2022 setting out their assessment of the case for a UK CBDC, including the merits of further work to develop an operational and technology model for a UK CBDC.</p> answering member printed Baroness Penn question first answered 01/08/2022 14:09:14 answering member 4726 label Biography information for Baroness Penn
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1674228

	registered interest
	date	29/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what assessment they have made of the risk of an increase in unaffordable consumer debt, including credit-card debt, in the new year.
	tabling member printed	Lord Taylor of Warwick
	uin	HL741
	answer	answer is ministerial correction date of answer 12/12/2023 answer text The Government regularly engages with the Bank of England, Financial Conduct Authority (FCA) and the Money and Pensions Service (MaPS) to monitor personal finances.<p> </p><p>The Government remains committed to helping people in problem debt access the support they need to get their finances back on track. This is why the Government continues to maintain record levels of debt advice funding for MaPS to provide debt advice in England, bringing their debt advice budget to £92.7 million in 2023/24.</p> answering member printed Baroness Vere of Norbiton question first answered 12/12/2023 17:47:47 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1251126

	registered interest
	date	11/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employed: Coronavirus
	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 report by the Centre for Economic Performance Self Employed: Six Months into the Crisis, published on 10 November; and what steps they are taking to support self-employed workers.
	tabling member printed	Lord Taylor of Warwick
	uin	HL10252
	answer	answer is ministerial correction date of answer 26/11/2020 answer text The Government recognises the impact that the changing path of the virus has had on the self-employed and has taken action to increase the level of support available through the Self-Employment Income Support Scheme (SEISS).<p> </p><p>The third grant, covering November 2020 to January 2021, has now been increased to an overall level of 80 per cent of average trading profits, meaning that the maximum grant available has increased to £7,500. This provides equivalent support to the self-employed as is being provided for employees through the Government contribution in the Coronavirus Job Retention Scheme.</p><p> </p><p>This will provide an estimated £7.3bn of support to the self-employed through the period of November 2020 to January 2021 alone, with a further grant to follow covering February to April 2021. This places the SEISS among the most generous schemes for the self-employed in the world.</p><p> </p><p>The SEISS continues to be just one element of a comprehensive package of support for the self-employed. The Universal Credit standard allowance has been temporarily increased for 2020-21 and the Minimum Income Floor relaxed for the duration of the crisis, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award will have increased to reflect their lower earnings. In addition to this, they may also have access to other elements of the package, including Bounce Back loans, tax deferrals, rental support, mortgage holidays, self-isolation support payments and other business support grants.</p> answering member printed Lord Agnew of Oulton question first answered 26/11/2020 12:25:49 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1337602

	registered interest
	date	16/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employed: Finance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what additional steps they are taking to provide financial support to industries with large proportions of freelancer workers.
	tabling member printed	Lord Taylor of Warwick
	uin	HL1183
	answer	answer is ministerial correction date of answer 28/06/2021 answer text The Government recognises the extreme disruption the necessary actions to combat Covid-19 are having on industries with large proportions of freelance workers.<p> </p>Eligible businesses may already benefit from available employment schemes, government grant and loan schemes, and a reduction in VAT and business rates relief. At Budget, the Chancellor extended many of these schemes beyond the end of the Roadmap to accommodate even the most cautious view about the time it might take to exit restrictions.<p> </p><p>For example, the Government announced at Budget that the Self-Employment Income Support Scheme (SEISS) will continue until September, with a fourth and a final fifth grant. This provides certainty to self-employed individuals, including many freelancers, as the economy reopens. The design of the SEISS, including the eligibility requirement that an individual’s trading profits must be at least equal to their non-trading income, means it is targeted at those who are most reliant on their self-employment income.</p><p> </p><p>However, the SEISS is just one element of an unprecedented package of support for the self-employed. As well as the business support outlined above, the temporary £20 per week increase to the Universal Credit standard allowance was extended at Budget for six months, and the Government also extended the suspension of the Minimum Income Floor for three months, to the end of July 2021, so that where self-employed claimants' earnings have fallen significantly, their Universal Credit award can continue to take into account their lower earnings.</p><p> </p><p>At Budget, the Government also extended the Coronavirus Job Retention Scheme for a further five months from May until the end of September 2021. Furloughed workers in the UK will continue to receive more generous support than those in many other countries, as the CJRS ensures employees receive 80% of their current salary for hours not worked, up to £2500 per month, until the end of September. The CJRS has been available to all employers with a PAYE system and all employees on PAYE regardless of their employment contract. As such, freelancers and those on short term contracts could be eligible for the CJRS if they are on PAYE and meet the eligibility criteria.</p><p> </p><p>In addition, the Culture Recovery Fund has already supported over 5000 organisations including theatres, music venues, comedy clubs and festivals, helping to enable performances to restart, protect jobs and create opportunities for freelancers.</p> answering member printed Lord Agnew of Oulton question first answered 28/06/2021 13:18:21 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1387427

	registered interest
	date	13/12/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Coronavirus
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have (1) to extend VAT relief, and (2) to reduce business rates, to support businesses implementing the new COVID-19 restrictions.
	tabling member printed	Lord Taylor of Warwick
	uin	HL4918
	answer	answer is ministerial correction date of answer 20/12/2021 answer text The Government has provided over £400 billion of direct support to the economy during this financial year and last which has helped to safeguard jobs, businesses, and public services in every region and nation of the UK through the pandemic.<p> </p><p>The reduced rate of VAT for hospitality and tourism has cost over £8 billion and will continue to support businesses until 31 March 2022. There are no plans to extend the length of this relief. Eligible businesses in the retail, hospitality, and leisure sectors in England will benefit from business rates relief worth over £6 billion in the year 2021-22. All taxes are kept under review, but it is appropriate that the temporary tax reliefs are first reduced, and then removed, in order to strengthen and rebuild the public finances.</p> answering member printed Lord Agnew of Oulton question first answered 20/12/2021 18:17:46 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1285855

	registered interest
	date	10/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Business Rates
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to reduce the rates relief threshold for small businesses.
	tabling member printed	Lord Taylor of Warwick
	uin	HL13284
	answer	answer is ministerial correction date of answer 24/02/2021 answer text The Government has no immediate plans to change the eligibility criteria for Small Business Rates Relief (SBRR).<p> </p><p>Properties with a rateable value of £12,000 or less pay no business rates under SBRR. For properties with a rateable value above £12,000 and less than £15,000, SBRR tapers from 100% relief to 0%.</p><p> </p><p>The fundamental review of business rates will consider all parts of the business rates system, including reliefs and any eligibility criteria.</p> answering member printed Lord Agnew of Oulton question first answered 24/02/2021 12:05:44 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1241509

	registered interest
	date	07/10/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Educational Visits: Coronavirus
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to protect jobs lost as a result of the ban on residential school trips.
	tabling member printed	Lord Taylor of Warwick
	uin	HL8898
	answer	answer is ministerial correction date of answer 20/10/2020 answer text The Government has announced a package of targeted measures in the Winter Economy Plan that will continue to support jobs facing reduced or uncertain demand through the months ahead as we tackle the spread of Coronavirus. The package includes a new Job Support Scheme, which from 1 November will ensure that for every hour an employee cannot work in the current economic context, employers and the Government will each pay one third of the employee’s usual pay. Employees using the scheme will receive at least 77% of their pay where the government contribution has not been capped. The Winter Economy Plan also includes the extension of the Self Employment Income Support Scheme through to the end of April 2021, and an extension of the 15% VAT cut for the hospitality and tourism sectors through to March 2021.<p> </p>The Government will keep its support for jobs and the economy under review.  answering member printed Lord Agnew of Oulton question first answered 20/10/2020 10:40:38 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1796 label Biography information for Lord Taylor of Warwick