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603970

registered interest
date	17/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will explain the basis on which the inflation target for the Bank of England’s Monetary Policy Committee is set; and the circumstances in which that figure would be raised above two per cent.
tabling member printed	Lord Myners
uin	HL2366
answer	answer is ministerial correction date of answer 31/10/2016 answer text <p>A comprehensive Review of the Monetary Policy Framework was published in 2013. The current remit for the Monetary Policy Committee reflects the assessment set out in the 2013 Review, which includes retaining a flexible inflation targeting framework, with a 2 per cent symmetric inflation target. The remit also states that the MPC may allow inflation to deviate from this target temporarily in order not to cause undesirable volatility in output due to the short-term trade-offs involved.</p><p> </p> answering member printed Lord Young of Cookham question first answered 31/10/2016 15:30:20 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

592909

registered interest
date	03/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Monetary Policy
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will review the impact of quantitative easing on investment and on savings to determine whether it is of greater benefit to one or the other.
tabling member printed	Lord Myners
uin	HL2035
answer	answer is ministerial correction date of answer 17/10/2016 answer text <p>The independent Monetary Policy Committee (MPC) is responsible for setting monetary policy to deliver its primary objective of maintaining price stability. As the MPC remit makes clear, ensuring price stability is an essential pre-requisite for economic prosperity. The MPC is accountable to both Parliament and the public, through regular reports and evidence given to the Treasury Committee. The Bank of England has previously produced analysis of the distributional effects of asset purchases on different groups in society. At the August Inflation Report hearing on 7 September the Bank committed to updating this analysis.</p> answering member printed Lord Young of Cookham question first answered 17/10/2016 14:27:01 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

592910

registered interest
date	03/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Marketing
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what plans they have to restrict the advertising and promotion of primary option trading and investment to retail investors in the UK by firms based in Cyprus and Malta.
tabling member printed	Lord Myners
uin	HL2036
answer	answer is ministerial correction date of answer 17/10/2016 answer text <p>The government takes this issue very seriously.</p><p> </p><p>The government will introduce measures to strengthen investor protection when it transposes the Markets in Financial Instruments Directive II (MiFID II).</p><p> </p><p>This will include powers for the Financial Conduct Authority (FCA) to prohibit or restrict the marketing, distribution or sale of financial instruments, including relevant binary options where there are significant investor protection concerns.</p><p> </p><p>These powers will apply from 3 January 2018.</p> answering member printed Lord Young of Cookham question first answered 17/10/2016 12:36:00 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners