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1126305
star this property registered interest false more like this
star this property date less than 2019-05-13more like thismore than 2019-05-13
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 more like this
unstar this property hansard heading Insolvency 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 basis for their estimate in the consultation by HMRC Protecting your taxes in insolvency, published on 26 February, that the reintroduction of preferential status for any Crown creditor would yield £185 million per annum in additional tax revenue. more like this
star this property tabling member printed
Baroness Hayter of Kentish Town more like this
star this property uin HL15665 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-22more like thismore than 2019-05-22
star this property answer text <p>The estimate is the tax recovered from insolvencies that HM Revenue and Customs (HMRC) would not otherwise have collected before the policy was implemented. Adjustments were made for tax and payment timing.</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 2019-05-22T16:21:03.407Zmore like thismore than 2019-05-22T16:21:03.407Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
4159
star this property label Biography information for Baroness Hayter of Kentish Town more like this
1126306
star this property registered interest false more like this
star this property date less than 2019-05-13more like thismore than 2019-05-13
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 more like this
unstar this property hansard heading Insolvency 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 the proposals in the consultation by HMRC Protecting your taxes in insolvency, published on 26 February, to reintroduce preferential status for any Crown creditor takes into account lost Government revenue resulting from other taxpayers suffering additional bad debts due to the priority payment of HMRC, and any consequential loss to the economy resulting other taxpayers themselves becoming insolvent due to an increased burden of bad debt; and what assessment, if any, they have made of the impact of that change on lending. more like this
star this property tabling member printed
Baroness Hayter of Kentish Town more like this
star this property uin HL15666 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-22more like thismore than 2019-05-22
star this property answer text <p>The ‘Protecting your taxes in insolvency’ proposals take into account lost government revenue resulting from other taxpayers suffering additional bad debts due to the priority payment of HMRC.</p><p> </p><p>Lending against fixed assets will not be impacted by this measure, but lending against floating assets will be impacted, as HMRC will move above secured creditors with floating charges in insolvencies.</p><p> </p><p>At Budget 2018, the independent OBR chose not to make any adjustments to their economic forecast in response to this measure.</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 2019-05-22T16:22:56.03Zmore like thismore than 2019-05-22T16:22:56.03Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
4159
star this property label Biography information for Baroness Hayter of Kentish Town more like this
1126332
star this property registered interest false more like this
star this property date less than 2019-05-13more like thismore than 2019-05-13
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 more like this
unstar this property hansard heading Banks: Competition 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 plans they have, if any, to update competition law to allow for shared banking hubs in areas where local bank branches have been closed. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL15692 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-22more like thismore than 2019-05-22
star this property answer text <p>Branch closures can be difficult for the communities affected and the Government pays close attention to this issue. However, the decision to close a branch is a commercial one for a firm, and Government does not intervene in those decisions.</p><p> </p><p>However, the Government is equally clear that as banking providers seek to respond to technological advances and changes in customer behaviour, they must also consider carefully the needs of those who still rely on their local bank branch. Since May 2017, the major high street banks have been signed up to the Access to Banking Standard, which commits them to work with customers and communities to minimise the impact of branch closures and put in place alternative banking services.</p><p> </p><p>The Government also supports the Post Office Banking Framework Agreement which enables 99% of the UK’s personal and 95% of the UK’s small business customers to withdraw money, deposit cash and cheques and check balances at any one of the Post Office’s network of 11,500 branches.</p><p> </p><p> </p><p>While banks do have to comply with competition law, there is no specific regulation that prevents banks from sharing branches or other premises where their strategies align. The Government therefore has no plans to update competition law on this basis. Government does not intervene in these commercial decisions, but will continue to encourage banks to think creatively about how they can ensure that consumers can access a wide range of banking services on a sustainable basis. For example, NatWest, Lloyds Bank and Barclays are trialling shared business banking hubs in 6 locations across the UK in the coming weeks.</p>
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-05-22T16:37:43.297Zmore like thismore than 2019-05-22T16:37:43.297Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1126686
star this property registered interest false more like this
star this property date less than 2019-05-14more like thismore than 2019-05-14
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 more like this
unstar this property hansard heading Company Cars: 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 when they plan to announce the benefits in kind rate for company cars for the years after 2021; and what assessment they have made of the impact on car owners of the rates not yet being publicly available. more like this
star this property tabling member printed
Lord Berkeley more like this
star this property uin HL15703 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-23more like thismore than 2019-05-23
star this property answer text <p>The government aims to publish emissions-based company car tax rates in advance to help employees and industry plan.</p><p> </p><p>However, as emissions testing changes in 2020, the government is reviewing the impact of the new Worldwide Light vehicle Test Procedure (WLTP) on vehicle taxes. The government will respond shortly to the review.</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 2019-05-23T16:34:35.163Zmore like thismore than 2019-05-23T16:34:35.163Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
3526
star this property label Biography information for Lord Berkeley more like this
1126718
star this property registered interest false more like this
star this property date less than 2019-05-14more like thismore than 2019-05-14
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 more like this
unstar this property hansard heading Loans 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 modelled the systemic risk impact of growth in instructional, non bank, lending. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL15735 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-22more like thismore than 2019-05-22
star this property answer text <p>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. Part of the FPC’s remit includes the responsibility for assessing risks in the financial system, including from the non-bank financial system. The FPC set out its most recent assessment of financial stability risks from the non-bank financial sector in its 28th November 2018 Financial Stability Report.</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 2019-05-22T16:28:54.077Zmore like thismore than 2019-05-22T16:28:54.077Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
3869
star this property label Biography information for Lord Myners more like this
1126719
star this property registered interest false more like this
star this property date less than 2019-05-14more like thismore than 2019-05-14
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 more like this
unstar this property hansard heading London Capital and Finance: Insolvency 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 the proposed independent review of the Financial Conduct Authority's (FCA) supervision of London Capital and Finance will be supported by (1) an independent secretariat, or (2) secondees from the (a) FCA, (b) Prudential Regulation Authority, (c) HM Treasury, or (d) Bank of England. more like this
star this property tabling member printed
Lord Myners more like this
star this property uin HL15736 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-23more like thismore than 2019-05-23
star this property answer text <p>On 23<sup>rd</sup> May, the Economic Secretary to the Treasury laid before Parliament a Direction requiring the Financial Conduct Authority (FCA) to carry out an independent investigation into the events and circumstances surrounding the failure of London Capital and Finance. The operational resourcing of this investigation will be a matter for the FCA and Dame Elizabeth Gloster, the independent investigator it appointed.</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 2019-05-23T16:38:21.867Zmore like thismore than 2019-05-23T16:38:21.867Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
3869
star this property label Biography information for Lord Myners more like this
1127020
star this property registered interest false more like this
star this property date less than 2019-05-15more like thismore than 2019-05-15
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 more like this
unstar this property hansard heading Credit 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 any increase in complaints regarding short-term and payday lenders related to those suffering with problem debt. more like this
star this property tabling member printed
Lord Taylor of Warwick more like this
star this property uin HL15781 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-22more like thismore than 2019-05-22
star this property answer text <p>The Government has fundamentally reformed regulation of the consumer credit market, transferring regulatory responsibility to the Financial Conduct Authority (FCA) on 1 April 2014.</p><p> </p><p>The FCA requires payday lenders to carry out robust affordability checks, limits the number of times a payday loan can be rolled over to two, places tough restrictions on lenders’ use of continuous payment authorities, and requires all payday lending adverts to include a risk warning and information about where to get free debt advice.</p><p> </p><p>The Government has given the FCA strong powers to protect consumers and to take action against firms and individuals that do not meet its standards. In 2018, the FCA issued total fines of £60 million.</p><p><strong> </strong></p><p>On problem debt more broadly, the Government is implementing its manifesto commitment to introduce a breathing space and statutory debt repayment plan. The two polices aim to give people in problem debt the opportunity to take control of their finances and put them on a sustainable footing.</p>
star this property answering member printed Lord Young of Cookham more like this
star this property question first answered
less than 2019-05-22T16:23:21.48Zmore like thismore than 2019-05-22T16:23:21.48Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1127252
star this property registered interest false more like this
star this property date less than 2019-05-16more like thismore than 2019-05-16
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 more like this
unstar this property hansard heading Import Duties 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 how much revenue is raised from tariffs on products not grown or produced in the UK. more like this
star this property tabling member printed
Lord Lilley more like this
star this property uin HL15805 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-23more like thismore than 2019-05-23
star this property answer text <p>The total amount received in Customs Duties in 2017-18 was £3.4 billion.</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 2019-05-23T15:15:54.313Zmore like thismore than 2019-05-23T15:15:54.313Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
68
star this property label Biography information for Lord Lilley more like this
1127253
star this property registered interest false more like this
star this property date less than 2019-05-16more like thismore than 2019-05-16
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 more like this
unstar this property hansard heading UK Trade with EU 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 costs to businesses of (1) completing movement certificates, and (2) having those certificates stamped at borders, if the UK is in a customs union with the EU after Brexit. more like this
star this property tabling member printed
Lord Lilley more like this
star this property uin HL15806 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-05-23more like thismore than 2019-05-23
star this property answer text <p>The Government is seeking a new customs arrangement that provides the most frictionless trade possible in goods between the UK and the EU.</p><p> </p><p>The cost to businesses of any information requirements would depend on the precise nature of the arrangement.</p><p> </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 2019-05-23T15:16:15.42Zmore like thismore than 2019-05-23T15:16:15.42Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
68
star this property label Biography information for Lord Lilley more like this
1127433
star this property registered interest false more like this
star this property date less than 2019-05-20more like thismore than 2019-05-20
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 more like this
unstar this property hansard heading Brexit 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 their latest estimate is of the impact on GDP in each year between 2019 and 2033 of leaving the EU without a withdrawal agreement in place. more like this
star this property tabling member printed
Lord Livermore more like this
star this property uin HL15844 more like this
unstar this property answer
answer
unstar this property is ministerial correction false more like this
unstar this property date of answer less than 2019-06-04more like thismore than 2019-06-04
star this property answer text <p>The Government’s analysis on the economic effects of EU exit looks at the long-term impacts. Within their statutory mandates, the Bank of England and the OBR produce short-to-medium term forecasts for the UK economy which will reflect their independent judgements regarding the impact of leaving the EU.</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 2019-06-04T13:47:03.123Zmore like thismore than 2019-06-04T13:47:03.123Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham remove filter
unstar this property tabling member
4559
star this property label Biography information for Lord Livermore more like this