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1050842

registered interest
date	29/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks
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 impact on the banking industry of jobs being moved out of the UK due to Brexit uncertainty.
tabling member printed	Lord Taylor of Warwick
uin	HL13261
answer	answer is ministerial correction date of answer 12/02/2019 answer text <p>The Treasury is in frequent contact with firms and regulators regarding their contingency planning for EU exit. Over time there has been a gradual reduction in the number of jobs expected to move to the EU for “day one” at the end of March 2019. Sam Woods, the Deputy Governor of the Bank of England said in July that just under 5,000 financial services jobs are likely to move by “day one”.</p><p>Further job movements will depend on factors including the actions of European regulators, market conditions, and of course, the structure of the future relationship with the EU which will be based on the Political Declaration and negotiated during the implementation period.</p><p>We remain committed to preserving our competitive position in financial services after the UK has left the European Union and leaving the EU with a deal remains the Government’s top priority. An Implementation Period is the most effective approach to ensuring a smooth and orderly exit from the EU. That is why it is so important that we redouble our efforts to reach a negotiated deal that Parliament can support.</p><p>The Government’s long-term economic analysis of EU exit, published in November 2018, sets out the impact of the UK’s White Paper position on the financial services sector.</p> answering member printed Lord Bates question first answered 12/02/2019 12:12:48 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1050845

registered interest
date	29/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Investment
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to reassure investors following warnings of challenging market conditions due to Brexit uncertainty.
tabling member printed	Lord Taylor of Warwick
uin	HL13264
answer	answer is ministerial correction date of answer 12/02/2019 answer text <p>The Government has been clear that the best way to ensure certainty for all in the UK, including investors, is to leave the EU with a deal. The Government’s analysis illustrated that the spectrum of outcomes for the future UK-EU relationship in the Political Declaration would deliver significantly higher economic output than the no deal scenario.</p><p><strong> </strong></p><p>This is why the Prime Minister is now seeking legally binding changes to the Withdrawal Agreement that deal with MP’s concerns. While the Government is taking responsible steps to prepare for all scenarios, including ‘no deal’, we are confident we can secure a majority in Parliament for leaving the EU with a deal.</p> answering member printed Lord Bates question first answered 12/02/2019 12:11:41 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1049565

registered interest
date	28/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Electronic Publishing: VAT
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans, if any, they have to assess the amount of VAT paid on e-publications by (1) ministerial departments, and (2) non-ministerial departments, agencies and other public bodies.
tabling member printed	Lord Bird
uin	HL13153
answer	answer is ministerial correction date of answer 11/02/2019 answer text <p>HMRC does not hold detailed information on VAT paid on specific products by government departments, public institutions or private entities.</p><p>The Government keeps all taxes under review, including VAT on e-publications.</p><p>Any amendments to the VAT regime as it applies to physical publications and e-publications must be carefully assessed against policy, economic and fiscal considerations.</p> answering member printed Lord Bates question first answered 11/02/2019 14:13:55 answering member 1091 label Biography information for Lord Bates
tabling member	4564 label Biography information for Lord Bird

1049603

registered interest
date	28/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Double Taxation: Israel
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they have taken to ensure that the UK–Israel tax protocol signed on 17 January does not apply to trade involving illegal settlements.
tabling member printed	Lord Warner
uin	HL13187
answer	answer is ministerial correction date of answer 11/02/2019 answer text <p>The Protocol amends the 1962 convention to improve the conditions for cross-border trade and investment. These benefits are in the interests of the UK economy.</p><p>The Protocol does not represent any change to the UK’s historic position towards the Occupied Palestinian Territories, including East Jerusalem and Israeli settlements. The UK’s position on settlements is clear. They are illegal under international law, present an obstacle to peace, and threaten the physical viability of a two-state solution.</p> answering member printed Lord Bates question first answered 11/02/2019 14:12:50 answering member 1091 label Biography information for Lord Bates
tabling member	1732 label Biography information for Lord Warner

1047829

registered interest
date	24/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Growth
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 balance of economic output throughout the UK's nations and regions.
tabling member printed	Baroness Kennedy of Cradley
uin	HL13107
answer	answer is ministerial correction date of answer 06/02/2019 answer text <p>In 2017, 76% of UK economic output was generated outside London. Since 2010, 60% of the increase in UK employment has come from regions outside London and the South East and of the 11 nations and regions outside of London, eight have seen higher productivity growth than London since 2010.</p><p> </p><p>This government continues to support the unique needs of regional economies. We are continuing to back further devolution where appropriate, enabling local areas to take strategic decisions about local priorities, and we are investing in all parts of the UK, for example through the £12bn multi-year Local Growth Fund, which continues to support a range of productivity focused investments across England.</p> answering member printed Lord Bates question first answered 06/02/2019 12:52:31 answering member 1091 label Biography information for Lord Bates
tabling member	4303 label Biography information for Baroness Kennedy of Cradley

1047831

registered interest
date	24/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Social Mobility
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 structural economic disparities in the UK that affect social mobility.
tabling member printed	Baroness Kennedy of Cradley
uin	HL13109
answer	answer is ministerial correction date of answer 06/02/2019 answer text <p>Income inequality is lower than it was in 2010, supported by gains in the employment rate since the financial crisis. Growth in employment rates has particularly benefitted the poorest fifth of households, whose employment rate is now more than 7 percentage points higher than in 2007/08 – more than anywhere else in the income distribution.</p><p> </p><p>The UK has the 5th lowest level of persistent poverty in the EU. Furthermore, the most recent analysis by the Department for Work and Pensions has shown that, of those surveyed in 2015-16, 53% of those in the bottom income quintile in 2010-11 were in a higher income quintile in 2015-16.</p><p> </p>The government is also taking steps to improve education for every child – with 95% of all early years’ settings now rated Good or Outstanding – up from 68% in 2010; the attainment gap is narrowing; record rates of disadvantaged 18 year olds are getting into university; and the Chief Ofsted inspector said in her latest annual report that ‘more education funding [is] now being directed at disadvantaged pupils than more affluent ones, addressing historic inequities’. answering member printed Lord Bates question first answered 06/02/2019 12:51:31 answering member 1091 label Biography information for Lord Bates
tabling member	4303 label Biography information for Baroness Kennedy of Cradley

1047832

registered interest
date	24/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services
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 number of people in the UK that are unbanked.
tabling member printed	Baroness Kennedy of Cradley
uin	HL13110
answer	answer is ministerial correction date of answer 06/02/2019 answer text <p>The Treasury does not make assessments of the number of people who do not have a bank account. However, in 2017, the Financial Conduct Authority published the results of the Financial Lives Survey which found that 1.3 million UK adults were unbanked, i.e. have no current account or alternative e-money account.</p><p> </p><p>The Financial Lives Survey report contains further information on the characteristics of the unbanked and their preferences to have a bank account. The report analyses survey results across the four nations of the UK, the nine regions of England, and by rural and urban areas. The FCA intend to repeat the Financial Lives Survey on a regular basis in future.</p> answering member printed Lord Bates question first answered 06/02/2019 12:50:43 answering member 1091 label Biography information for Lord Bates
tabling member	4303 label Biography information for Baroness Kennedy of Cradley

1047834

registered interest
date	24/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Unions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what support they give to credit unions.
tabling member printed	Baroness Kennedy of Cradley
uin	HL13112
answer	answer is ministerial correction date of answer 06/02/2019 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a two-year pilot of a new prize-linked savings scheme offered through credit unions. This will support the credit union sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks.</p><p> </p>The Chancellor also announced a new £2 million challenge fund to promote innovative solutions from the UK’s Fintech sector to address challenges faced by social and community lenders, including credit unions. This follows the success of last year’s Rent Recognition Challenge, where Government backing has supported UK Fintechs to successfully develop and roll out digital solutions for incorporating rental data into credit scores. answering member printed Lord Bates question first answered 06/02/2019 12:52:02 answering member 1091 label Biography information for Lord Bates
tabling member	4303 label Biography information for Baroness Kennedy of Cradley

1046328

registered interest
date	22/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Infrastructure: Capital Investment
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of reports that infrastructure investors may be withholding investment in the UK due to concerns about the current regulatory climate.
tabling member printed	Lord Taylor of Warwick
uin	HL13035
answer	answer is ministerial correction date of answer 04/02/2019 answer text <p>The UK has established strong, independent economic regulators that protect the interests of consumers and encourage high levels of investment.</p><p> </p><p>The economic regulators – Ofgem, Ofwat, Ofcom, and the Civil Aviation Authority – ensure that regulated companies deliver good value for money, and that investors get a fair return on their investment.</p><p> </p><p>This system continues to deliver strong levels of investment. For instance, in the water sector, over the next price control period companies have proposed investing £50 billion from 2020-2025, a 13% increase from the previous control period. In 2017, the inward stock of FDI in the UK was the highest in Europe and the third highest in the world.</p> answering member printed Lord Bates question first answered 04/02/2019 14:19:08 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1045450

registered interest
date	21/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they are taking steps to contact all members of the public who have taken pensions advice from Financial Conduct Authority (FCA) regulated pensions advisers who have had their authorisations revoked or have been otherwise instructed to cease giving pensions advice; if not, why not; and whether each case is being individually reviewed by the FCA.
tabling member printed	Lord Myners
uin	HL12986
answer	answer is ministerial correction date of answer 04/02/2019 answer text <p>The Government is committed to working with the Financial Conduct Authority (FCA) to ensure consumers have access to high quality financial advice. The FCA, as the independent financial services regulator, has responsibility for ensuring that the financial advice market works well, competitively and fairly.</p><p> </p><p>The FCA conducts investigations into firms in relation to pension transfer advice. If this work results in formal action the FCA publicly sets out their detailed findings on those firms responsible for serious failings and ensures affected customers are aware.</p><p> </p><p>In cases where the FCA suspects serious misconduct may have occurred and harm needs to be prevented immediately, as a first step the FCA may also ask firms voluntarily to accept a variation of permission or the imposition of a requirement (VREQ). Typically, when the FCA uses this power it will be displayed on the FCA’s Financial Services Register which is free to access and publicly available. Through their work on pension transfers advice, they identified a number of firms which gave cause for concern. This resulted in VREQs being put in place.</p> answering member printed Lord Bates question first answered 04/02/2019 14:49:19 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners