Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member printed grouped question UIN question first answered answering member label attachment file name file name title title
tabling member	label

Search

1064619

	registered interest
	date	20/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Taxation: EU Action
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Statement by Lord Bates on 19 January (HLWS1308) concerning the Economic and Financial Affairs Council meeting of 12 February, what position was taken by the UK during the exchange of views on the European Commission’s proposal to move to qualified majority voting in EU taxation policy.
	tabling member printed	Lord Stoddart of Swindon
	uin	HL13938
	answer	answer is ministerial correction date of answer 06/03/2019 answer text <p>As set out in an explanatory memorandum dated 5 February 2019,<sup><sup>[1]</sup></sup> the government does not support the use of qualified majority voting (QMV) in the field of taxation and this remains the case following the recent Economic and Financial Affairs Council (ECOFIN) discussion.</p><p> </p><p>[1] <a href="http://europeanmemoranda.cabinetoffice.gov.uk/files/2019/02/Scan.pdf" target="_blank">http://europeanmemoranda.cabinetoffice.gov.uk/files/2019/02/Scan.pdf</a></p> answering member printed Lord Bates question first answered 06/03/2019 12:34:25 answering member 1091 label Biography information for Lord Bates attachment 1 file name hl13938.pdf title EM attached.
	tabling member	950 label Biography information for Lord Stoddart of Swindon

1011269

	registered interest
	date	20/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Social Security Benefits: Children
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Bates on 5 February (HL5370), whether they have applied the Family Test to the policy to provide support to a maximum of two children; and if so, how the potential impacts on families are being taken into account.
	tabling member printed	The Lord Bishop of Portsmouth
	uin	HL11630
	answer	answer is ministerial correction date of answer 04/12/2018 answer text <p>The government is committed to supporting families. To achieve this, we introduced the Family Test, which aims to ensure that impacts on family relationships and functioning are recognised early on during the process of policy development and help inform the policy decisions made by Minsters. The Family Test was introduced in 2014, and remains official government policy. The guidance for implementing the Family Test can be found here and is also attached :</p><p><a href="https://www.gov.uk/government/publications/family-test-assessing-the-impact-of-policies-on-families" target="_blank">https://www.gov.uk/government/publications/family-test-assessing-the-impact-of-policies-on-families</a></p><p>The Family Test was considered during the development of the policy to provide support for a maximum of two children in Child Tax Credit and Universal Credit. The published Impact Assessment shows the measure will have a positive impact on overall family stability. The Impact Assessment is attached.</p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name family-test-guidance.pdf title Family test 2 file name ia15-006e.pdf title impact asessment question first answered 04/12/2018 17:09:30 answering member 1091 label Biography information for Lord Bates
	tabling member	4314 label Biography information for The Lord Bishop of Portsmouth

1059220

	registered interest
	date	11/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	National Savings Certificates
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government why they are changing the index on NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996 from RPI to CPI; and what is the legal base that enables this change to be made.
	tabling member printed	Lord Sharkey
	uin	HL13605
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13606 HL13607 HL13608 HL13609 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
	tabling member	4196 label Biography information for Lord Sharkey

1059221

	registered interest
	date	11/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	National Savings Certificates
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what estimate they have made of the benefit that will accrue to HM Treasury from the change in the index from RPI to CPI of NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996.
	tabling member printed	Lord Sharkey
	uin	HL13606
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13607 HL13608 HL13609 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
	tabling member	4196 label Biography information for Lord Sharkey

1059222

	registered interest
	date	11/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	National Savings Certificates
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is the total outstanding value of, and interest credited on, NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996 for each of the last 10 years; and what projections have been made for outstanding value and interest credited for each of the next 10 years.
	tabling member printed	Lord Sharkey
	uin	HL13607
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13608 HL13609 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
	tabling member	4196 label Biography information for Lord Sharkey

1059223

	registered interest
	date	11/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	National Savings Certificates
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, for each of the last 10 years, how many individuals owned NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996 and what projections they have made for the number of future owners in the next 10 years.
	tabling member printed	Lord Sharkey
	uin	HL13608
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13607 HL13609 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
	tabling member	4196 label Biography information for Lord Sharkey

1059224

	registered interest
	date	11/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Government Securities
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what HM Treasury-backed interest bearing and index linked financial instruments have had, in the last 10 years, the index changed from (1) RPI to CPI, and (2) CPI to RPI; and what the rationale was for those changes.
	tabling member printed	Lord Sharkey
	uin	HL13609
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13607 HL13608 HL13610 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
	tabling member	4196 label Biography information for Lord Sharkey

1059225

	registered interest
	date	11/02/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Government Securities
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, in the light of the changes to NS&I Index-linked Savings Certificates bought between 2 June 1975 and 7 October 1996, whether they plan to change to CPI the index on those index-linked gilts currently using RPI; and if not, why not.
	tabling member printed	Lord Sharkey
	uin	HL13610
	answer	answer is ministerial correction date of answer 25/02/2019 answer text <p>Index-linked Savings Certificates (ILSCs) have not been on sale since 2011. Customers who purchased ILSCs between 2 June 1975 and 7 October 1996 (Issues 1-9), and who did not provide instructions at maturity to withdraw their funds, subsequently had their funds mature into ‘Index-linked Extension Terms’ (ILETs). ILETs act as a holding account for customers until they request the return of their investment.</p><p> </p><p>The number of ILET holders and total value of ILETs since 2012 and forecasts for the next 10 years are provided in the first attachment.. NS&amp;I undertook a data migration in 2012 therefore data is provided from that point forward.</p><p> </p><p> </p><p> </p><p>Interest earned on ILETs is normally held separately to the investment and paid out when customers claim their funds. However, in 2012 NS&amp;I capitalised interest into accounts. Therefore, the figures in the table do not include interest earned since 2012 (totalling c£30 million).</p><p> </p><p>ILETs currently earn interest equal to RPI. Starting 1 May 2019, from the day and month the original investment was made (the ‘anniversary date’), each ILET will earn interest based on CPI. On this day, outstanding interest will be capitalised into the account, with interest earned after this date continuing to be held separately. NS&amp;I does not hold an anniversary date for the oldest investments (Issues 1 and 2). For these issues, an anniversary date of 11 November has been set. This corresponds with the date in 2012 that NS&amp;I last capitalised interest into these accounts.</p><p> </p><p>NS&amp;I has the right to change the terms and conditions of ILETs at any time after the expiration of the original term. Customers are being notified at least 60 days in advance of the change taking effect, via correspondence and public notices published in the Daily Express, Daily Mail, Daily Telegraph and The Times on 8 February 2019.</p><p> </p><p>The forecast reduction in interest payments caused by the change in the index from RPI to CPI of Index-linked Extension Terms is provided in the second attachment.</p><p>As NS&amp;I announced at Budget 2018, from 1 May 2019 holders of ILSCs who chose to renew their investments into a new term would also receive interest based on CPI rather than RPI. The changes to ILETs and ILSCs recognise the reduced use of RPI by successive governments and is in line with NS&amp;I’s need to balance the interests of its savers, the cost to the taxpayer, and the stability of the broader financial services sector.</p><p> </p><p>The Government issues wholesale gilts through the Debt Management Office. In the past 10 years, the only index-linked products issued by the Debt Management Office have been Index Linked Gilts, which are linked to RPI. The Government recognises the flaws in the way RPI is measured and have made progress in moving away from using it. However, given the extensive use of RPI across the public and private sectors, further moves away from the measure are complex and potentially costly. As set out at Budget, the government’s objective is that it will reduce the use of RPI when and where practicable. At the present time there are no current plans to stop issuing RPI-linked gilts.</p><p><strong> </strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Bates attachment 1 file name Number of ILET holders.docx title Attachment 1 2 file name Interest saving.docx title Attachment 2 grouped question UIN HL13605 HL13606 HL13607 HL13608 HL13609 question first answered 25/02/2019 14:20:35 answering member 1091 label Biography information for Lord Bates
	tabling member	4196 label Biography information for Lord Sharkey

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

1012528

	registered interest
	date	22/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insolvency
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the announcement that HMRC will become a preferred creditor in UK insolvencies, what (1) calculations were used, and (2) issues were considered when they concluded that the policy would create an additional £605 million in tax revenue between 2019–20 and 2023–24.
	tabling member printed	Baroness McDonagh
	uin	HL11720
	answer	answer is ministerial correction date of answer 06/12/2018 answer text <p>The tax base for this measure consists of company insolvencies with gains resulting from tax avoidance, evasion and phoenixism, in addition to the amount HMRC currently writes off every year due to insolvencies.</p><p>This is estimated from HMRC operational and administrative data and is grown in line with the Budget 2018 OBR determinant for Gross Domestic Product (GDP) at market prices deflator.</p><p> </p><p>The costing is the tax recovered from insolvencies that HMRC would not otherwise have collected before the policy was implemented. Adjustments are made for tax and payment timing.</p><p>The costing accounts for a behavioural response whereby the measure has a deterrent effect on future insolvency as some taxpayers become compliant.</p><p> </p><p><strong>At Budget 2018, the Government published a full assessment of the exchequer impacts which is attached.</strong></p><p> </p><p> </p><p> </p> answering member printed Lord Bates question first answered 06/12/2018 17:53:24 answering member 1091 label Biography information for Lord Bates attachment 1 file name Budget_2018_policy_costings_PDF.pdf title Budget2018 policy costings
	tabling member	3701 label Biography information for Baroness McDonagh