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1667043

registered interest
date	25/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Borrowing
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 cost of UK state borrowing; and what steps they are taking in response to any challenges arising from those costs.
tabling member printed	Lord Taylor of Warwick
uin	HL10816
answer	answer is ministerial correction date of answer 26/10/2023 answer text <p>Responding to compounding shocks has meant that borrowing and debt levels are high by historical standards. In its March forecast, the independent Office for Budget Responsibility, the OBR, forecast spending on debt interest will reach £94.0 billion in 2023-24.<strong> </strong></p><p> </p><p>The government is committed to getting debt falling – reducing debt will reduce spending on debt interest that could otherwise be spent on public services, while providing the foundations for sustainable growth.</p><p> </p><p>In its March forecast, the OBR confirmed that the Government is on track to deliver this, with underlying debt falling as a percentage of GDP in 2027-28, and borrowing falling year-on-year across the whole five year forecast.</p> answering member printed Baroness Penn question first answered 26/10/2023 12:37:27 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1667044

registered interest
date	25/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Interest Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to minimise the impact of changing interest rates on the economic climate.
tabling member printed	Lord Taylor of Warwick
uin	HL10817
answer	answer is ministerial correction date of answer 26/10/2023 answer text <p>Like other countries the UK faces global economic challenges that contribute to inflation and weigh on growth. High inflation is bad for growth, so sticking to our plan to halve inflation, on the path back to the 2% target, is the right priority to tackle inflation and help the economy grow. The Spring Budget set out an ambitious package of measures to drive economic growth without irresponsibly fueling inflation, and revisions to ONS data show that we recovered from the pandemic far quicker than first thought, growing faster than Germany and France over this period.</p><p> </p> answering member printed Baroness Penn question first answered 26/10/2023 12:38:15 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1666938

registered interest
date	24/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgage Guarantee Scheme
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to extend the mortgage guarantee scheme for first-time buyers.
tabling member printed	Lord Taylor of Warwick
uin	HL10793
answer	answer is ministerial correction date of answer 26/10/2023 answer text <p>The Mortgage Guarantee Scheme (launched in April 2021) continues to support homebuyers and movers with deposits as small as 5%. As of March 2023, the scheme has helped over 37,376 households to buy their homes, 86% of which have been first-time buyers.</p><p> </p><p>The Government remains committed to supporting first-time buyers in making home ownership a reality for as many households as possible.</p><p> </p> answering member printed Baroness Penn question first answered 26/10/2023 10:31:59 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1666446

registered interest
date	23/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Duty Free Allowances
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 behavioural changes of travellers as a result of the withdrawal of tax-free shopping for international visitors.
tabling member printed	Baroness Doocey
uin	HL10721
answer	answer is ministerial correction date of answer 26/10/2023 answer text <p>The Government’s assessment of the anticipated behavioural changes as a result of tax-free shopping (covering the VAT Retail Export Scheme and the airside scheme) was set out in the original policy costing note which can be found in the Policy costings document from November 2020 p42-43. The government followed the same methodology when calculating costings for the 2022 Growth Plan, which can be found in the Growth Plan documents paragraph 4.19 and Table 4.2 from September 2022.</p><p>Whilst there are no current plans to re-introduce tax-free shopping for international visitors, the government keeps all tax policy under review, and we are very grateful to industry for their contribution to our invitation to provide evidence on this matter.</p> answering member printed Baroness Penn question first answered 26/10/2023 10:37:18 answering member 4726 label Biography information for Baroness Penn
tabling member	4197 label Biography information for Baroness Doocey

1666291

registered interest
date	19/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Household Support Fund
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the letter from Viscount Younger of Leckie to all members of the House of Lords on 13 October, whether the money allocated in the Household Support Fund is new money or money that has already been spent.
tabling member printed	Lord Palmer of Childs Hill
uin	HL10693
answer	answer is ministerial correction date of answer 24/10/2023 answer text <p>The Government is providing £842m to Local Authorities in England to deliver the Household Support Fund in England over 2023/24. The Devolved Administrations have received additional funding via the Barnett formula.</p><p> </p><p>This is additional funding to Local Authorities, not re-allocated from elsewhere.</p> answering member printed Baroness Penn question first answered 24/10/2023 11:39:05 answering member 4726 label Biography information for Baroness Penn
tabling member	4214 label Biography information for Lord Palmer of Childs Hill

1666302

registered interest
date	19/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Fees and Charges
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of whether banks charge fair and reasonable arrangement fees, and of the impact of such fees, combined with restrictive affordability criteria on the affordability of consumer mortgages.
tabling member printed	Lord Truscott
uin	HL10704
answer	answer is ministerial correction date of answer 26/10/2023 answer text <p>The availability and pricing of mortgages, including arrangement fees, is a commercial decision for lenders in which the Government does not intervene.</p><p> </p><p>It is important for both lenders and consumers that proper checks are carried out to ensure that borrowers will be well placed to repay the mortgage. Since April 2014 all lenders must now conduct an affordability assessment, which includes a robust income and expenditure analysis that will include a consideration of other debts owed. Lenders must also obtain evidence of that income to support this assessment.</p><p> </p><p>The Government remains committed to making the aspiration of homeownership a reality for as many households as possible.</p><p> </p><p>We operate a range of schemes that aim to increase the supply of low-deposit mortgages for credit-worthy households, including first-time buyers, increase the availability of new housing, and stimulate economic growth. These include the Mortgage Guarantee Scheme, which is open until the end of 2023, as well as First Homes and Shared Ownership through the Affordable Homes Programme. The Government also helps first-time buyers to save for a deposit through the Lifetime ISA and Help to Buy: ISA.</p> answering member printed Baroness Penn question first answered 26/10/2023 10:02:05 answering member 4726 label Biography information for Baroness Penn
tabling member	3682 label Biography information for Lord Truscott

1665950

registered interest
date	18/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what are the Barnett consequentials, or share of funding for Northern Ireland, of the additional capital funding for transport projects announced at the Conservative Party Conference.
tabling member printed	Lord Weir of Ballyholme
uin	HL10671
answer	answer is ministerial correction date of answer 26/10/2023 answer text <p>For the Network North transport projects, the Barnett formula will apply when departmental budgets change, not when new or additional funding is announced, as set out in the published Statement of Funding Policy document<sup><sup>[1]</sup></sup>. All decisions on funding beyond the Spending Review 2021 period will be taken at the next spending review.</p><p> </p><p>[1] <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1137609/Statement_of_Funding_Policy_update_Feb_2023.pdf" target="_blank">Statement_of_Funding_Policy_update_Feb_2023.pdf (publishing.service.gov.uk)</a></p> answering member printed Baroness Penn question first answered 26/10/2023 08:25:20 answering member 4726 label Biography information for Baroness Penn
tabling member	4970 label Biography information for Lord Weir of Ballyholme

1665596

registered interest
date	17/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Carbon Tax: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what are the implications of the EU's carbon tax for businesses in Northern Ireland.
tabling member printed	Lord Weir of Ballyholme
uin	HL10644
answer	answer is ministerial correction date of answer 25/10/2023 answer text <p>The EU introduced a Carbon Border Adjustment Mechanism (CBAM) on 1<sup>st</sup> October 2023. It is currently in its initial reporting phase which means that EU importers of CBAM goods will have to report on the volume of their imports and the emissions embedded in those products, but without paying any charge at this stage. The UK Government is following developments on the EU CBAM closely and engaging with the Commission to discuss technical detail.</p> answering member printed Baroness Penn question first answered 25/10/2023 09:56:56 answering member 4726 label Biography information for Baroness Penn
tabling member	4970 label Biography information for Lord Weir of Ballyholme

1665601

registered interest
date	17/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure: Wales
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what additional funding they have made available to the Welsh Government over and above the basic budget provision for Wales in the financial year 2023–24; and for what purposes any specific use was stipulated.
tabling member printed	Lord Wigley
uin	HL10647
answer	answer is ministerial correction date of answer 24/10/2023 answer text <p>Spending Review 2021 set the largest annual block grant, in real terms, of any spending review settlement since the devolution Acts. This provided the Welsh Government with £2.5 billion in 2023-24 through the Barnett formula, on top of their £15.9 billion baseline. They also received over £320 million of ringfenced non-Barnett funding for 2023-24 for farming and fisheries.</p><p> </p><p>On top of this settlement, the Welsh Government have received an additional £745 million through the Barnett formula for 2023-24, largely as a result of decisions made at Autumn Statement 2022 and Spring Budget 2023. They have also received around £450 million in non-Barnett funding for 2023-24 since Spending Review 2021.</p><p> </p><p>It is for the devolved administrations to allocate their Barnett-based funding in devolved areas as they see fit. They can therefore take their own decisions on managing and investing available resources, reflecting their own priorities and local circumstances, and they are accountable to the devolved legislatures for these decisions. Non-Barnett funding is generally ringfenced, meaning it can only be spent for the purpose it was given.</p><p> </p><p>A breakdown of Barnett and non-Barnett funding, including the policy areas for which the non-Barnett funding is ringfenced, can also be found in the Block Grant Transparency publication. This publication is updated regularly, and the most recent report was published in July 2023.</p> answering member printed Baroness Penn question first answered 24/10/2023 11:40:40 answering member 4726 label Biography information for Baroness Penn
tabling member	547 label Biography information for Lord Wigley

1664721

registered interest
date	16/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation: Domicil
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government how many non-resident trusts there are with at least one UK-resident beneficiary; and how they arrived at an estimate in respect of trusts that are not required to be registered under the Trust Registration Service.
tabling member printed	Lord Agnew of Oulton
uin	HL10487
answer	answer is ministerial correction date of answer 25/10/2023 answer text <p>For trusts registered on the Trust Registration Service by 31 March 2023, that remained open as of 31 August 2023, there are around 3,000 non-UK resident trusts that have at least 1 UK resident beneficiary recorded.</p><p> </p> answering member printed Baroness Penn question first answered 25/10/2023 09:54:02 answering member 4726 label Biography information for Baroness Penn
tabling member	4689 label Biography information for Lord Agnew of Oulton