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1175177

	registered interest
	date	21/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	World Economic Forum
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government how many Ministers or officials will be attending the 2020 World Economic Forum in Davos.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL640
	answer	answer is ministerial correction date of answer 04/02/2020 answer text <p>The 2020 Annual Meetings of the World Economic Forum took place from 21-24 January in Davos.</p><p> </p><p>The Rt Hon Sajid Javid MP, Chancellor of the Exchequer, was the only Minister to attend this year. The Chancellor was accompanied by two Special Advisers and two officials.</p><p> </p><p>Sir Edward Lister, Prime Minister’s Chief Strategic Adviser and Antonia Romeo, the Permanent Secretary at the Department for International Trade, were also in attendance.</p> answering member printed The Earl of Courtown question first answered 04/02/2020 14:01:12 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	4153 label Biography information for Lord Kennedy of Southwark

1175129

	registered interest
	date	20/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Foreign Exchange
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what plans they have to ensure that (1) the precise spot rate, and (2) the commission charged, are identified for all consumer foreign currency transactions at the moment of the transaction post-Brexit.
	tabling member printed	Lord Birt
	uin	HL543
	answer	answer is ministerial correction date of answer 03/02/2020 answer text <p>Under the Payment Services Regulations 2017, where a currency conversion service is offered before the initiation of the payment transaction, the party offering the currency conversion service must disclose to the payer all charges as well as the exchange rate to be used for converting the payment transaction. This will not change after the UK leaves the EU.</p><p> </p><p>From April 2020, the EU’s Cross Border Payments Regulation, known as CBPR2, will require greater transparency on currency conversion charges and exchange rates when making payments, either at a point of sale or an ATM.</p><p> </p><p>After 31 January, the UK and EU will enter an implementation period, during which EU laws that currently apply, or will start to apply during the implementation period, will apply to the UK.</p><p> </p><p>Under the terms of section 8 of the EU Withdrawal Act 2018 (and as further amended by the EU Withdrawal Agreement Act 2020) the Government has the power to fix deficiencies in EU legislation retained following the Implementation Period.</p> answering member printed The Earl of Courtown question first answered 03/02/2020 16:38:59 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	2533 label Biography information for Lord Birt

1175232

	registered interest
	date	22/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Housing: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what plans they have to introduce new tax incentives in their next budget to support the UK housing market.
	tabling member printed	Baroness Mone
	uin	HL707
	answer	answer is ministerial correction date of answer 05/02/2020 answer text <p>The Government has already made substantial reforms to the taxation of housing. At Autumn Statement 2014 the Government reformed SDLT on residential properties, cutting the tax for 98 per cent of buyers who pay it, unless they are purchasing additional property. At Autumn Budget 2017 the Government went further and introduced an SDLT first-time buyer relief that means that 80 per cent of first-time buyers will not pay SDLT, and 95 per cent of first-time buyers who pay SDLT will benefit from the change.</p><p> </p><p>At the last election the Government committed to introduce an SDLT surcharge on non-UK residents purchasing residential property in England and Northern Ireland. This aims to help control house price inflation and the money raised will be used to tackle rough sleeping.</p><p> </p><p>The Government will announce further updates on all tax measures at the Budget, to be held on 11 March.</p> answering member printed The Earl of Courtown grouped question UIN HL709 question first answered 05/02/2020 17:32:33 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	4544 label Biography information for Baroness Mone

1175235

	registered interest
	date	22/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Housing: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what plans they have to reform (1) tax relating to the housing market, and (2) stamp duty, following Brexit.
	tabling member printed	Baroness Mone
	uin	HL709
	answer	answer is ministerial correction date of answer 05/02/2020 answer text <p>The Government has already made substantial reforms to the taxation of housing. At Autumn Statement 2014 the Government reformed SDLT on residential properties, cutting the tax for 98 per cent of buyers who pay it, unless they are purchasing additional property. At Autumn Budget 2017 the Government went further and introduced an SDLT first-time buyer relief that means that 80 per cent of first-time buyers will not pay SDLT, and 95 per cent of first-time buyers who pay SDLT will benefit from the change.</p><p> </p><p>At the last election the Government committed to introduce an SDLT surcharge on non-UK residents purchasing residential property in England and Northern Ireland. This aims to help control house price inflation and the money raised will be used to tackle rough sleeping.</p><p> </p><p>The Government will announce further updates on all tax measures at the Budget, to be held on 11 March.</p> answering member printed The Earl of Courtown grouped question UIN HL707 question first answered 05/02/2020 17:32:33 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	4544 label Biography information for Baroness Mone

1175335

	registered interest
	date	27/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what plans they have to review the effectiveness of authorised corporate directors of open-ended investment funds in providing investor protection.
	tabling member printed	Lord Myners
	uin	HL803
	answer	answer is ministerial correction date of answer 10/02/2020 answer text <p>The government is committed to ensuring that the UK has a robust framework for financial regulation and that consumers are treated fairly. The FCA is responsible for overseeing the conduct standards of financial services firms. <br> <br> ‘Host’ Authorised Corporate Directors (ACDs) are Authorised Fund Managers which are not within the group structure of the delegate investment manager. The FCA is currently reviewing how effectively ‘host’ ACDs undertake their responsibilities. The FCA expects to complete this work in the first half of 2020.</p><p> </p> answering member printed The Earl of Courtown question first answered 10/02/2020 15:40:57 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	3869 label Biography information for Lord Myners

1175344

	registered interest
	date	27/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Greater London
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what plans they have, if any, to ensure that London is the top global financial centre after the UK has left the EU.
	tabling member printed	Lord Taylor of Warwick
	uin	HL814
	answer	answer is ministerial correction date of answer 10/02/2020 answer text <p>The government is committed to the long-term success of the UK as a global centre for financial services. As we leave the EU, we will make the most of the opportunities to build on the UK financial services sector’s strengths of innovation, resilience, and openness, ensuring that it delivers prosperity to every region and nation in the UK.</p><p> </p><p>We are seeking to agree a deal with the EU that keeps us as the financial hub for Europe, securing market access where our markets are most integrated through EU equivalence decisions and stabilising these decisions through a Free Trade Agreement.</p><p> </p><p>The sector’s long-term success will be driven by the markets of the future, such as fintech and green finance, and we will continue to work with industry through initiatives such as the Green Finance Institute to cement the UK’s world-leading position. To ensure the sector has the long-term skills to underpin its global competitiveness, we will work closely with the sector and the new Skills Commission, proposed by the Financial Services Skills Task Force, to drive collective progress on this important issue.</p> answering member printed The Earl of Courtown question first answered 10/02/2020 15:42:33 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1175339

	registered interest
	date	27/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tourism: VAT
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what representations they have received about the case for reducing VAT applicable to the UK tourism industry.
	tabling member printed	Baroness Ritchie of Downpatrick
	uin	HL808
	answer	answer is ministerial correction date of answer 10/02/2020 answer text At Spring Statement 2018, the Government launched a call for evidence on the impact of VAT and APD on tourism in NI, which also considered UK-wide changes. The Government received over 80 individual responses to this call for evidence from a wide range of stakeholders, including trade organisations, public sector bodies, campaign groups and wider industry. The response to the call for evidence was published at Budget 2018. answering member printed The Earl of Courtown question first answered 10/02/2020 15:41:49 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1175246

	registered interest
	date	22/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Digital Technology: Taxation
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government what steps they have (1) taken, and (2) are taking, to introduce a digital tax; and what representations they have received on the matter from the government of the United States.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL697
	answer	answer is ministerial correction date of answer 05/02/2020 answer text <p>At Budget 2018 the Government announced that the Digital Services Tax would be implemented from April 2020. Following this announcement the Government carried out consultation, and published draft legislation in July 2019. The Government is now reviewing this legislation.</p><p> </p><p>Government ministers and officials maintain regular contact with the US administration on a range of issues but cannot disclose the topic of specific conversations.</p> answering member printed The Earl of Courtown question first answered 05/02/2020 17:33:36 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	4153 label Biography information for Lord Kennedy of Southwark

1175140

	registered interest
	date	20/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Greenhouse Gas Emissions
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government whether they have given new policy guidance to the National Infrastructure Commission following the Government's decision to implement a target for net-zero emissions by 2050.
	tabling member printed	Lord Bradshaw
	uin	HL547
	answer	answer is ministerial correction date of answer 03/02/2020 answer text <p>Infrastructure will be central to meeting the UK’s 2050 zero-emissions targets, and so decarbonisation will be one of the central objectives of the National Infrastructure Strategy (NIS), due to be published alongside the Budget.</p><p> </p><p>The NIS will also provide the Government’s formal response to the National Infrastructure Commission’s (NIC’s) 2018 assessment of the UK’s infrastructure needs, which included a range of recommendations relating to decarbonising the UK economy.</p><p> </p><p>As per the NIC’s framework document, the NIC must already take account of the Government’s legal obligations, including carbon reduction targets or assessments of environmental impacts.</p> answering member printed The Earl of Courtown question first answered 03/02/2020 16:53:21 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	2483 label Biography information for Lord Bradshaw

1156548

	registered interest
	date	28/10/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Workplace Pensions: Tax Allowances
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how many (1) employers, and (2) pension scheme members, have received too much tax relief due to incorrect pension contributions being made as a result of confusion between (a) Relief at Source, and (b) Net Pay, arrangements.
	tabling member printed	Baroness Altmann
	uin	HL428
	answer	answer is ministerial correction date of answer 04/11/2019 answer text <p>Employers have not been given too much or too little tax relief as employers do not receive tax relief under net pay or relief at source (RAS) arrangements.</p><p> </p><p>The information about members is not readily available in the form requested and could only be provided at disproportionate cost.</p><p> </p><p>Errors made by employers and pension providers have resulted in pension scheme members receiving either no tax relief on their pension contributions, or receiving tax relief twice.</p><p> </p><p>In the Pension schemes newsletter 105 (November 2018), HMRC invited pension schemes who think that any of their members have been given the wrong amount of tax relief to email HMRC. HMRC would then work with the scheme to help correct their tax position.</p><p> </p><p>HMRC is continuing to work with the pension schemes that have informed if an error has been made, but is unable to give more detail of these cases as this could prejudice future HMRC compliance activity.</p><p><strong> </strong></p> answering member printed The Earl of Courtown question first answered 04/11/2019 14:00:18 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	4533 label Biography information for Baroness Altmann