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1136759
registered interest false more like this
date less than 2019-07-03more like thismore than 2019-07-03
answering body
Cabinet Office more like this
answering dept id 53 more like this
answering dept short name Cabinet Office more like this
answering dept sort name Cabinet Office more like this
hansard heading Government Departments: Bain and Company more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government how many consultancy contracts they have with Bain & Company, broken down by each government department. more like this
tabling member printed
Lord Hain more like this
uin HL16909 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-15more like thismore than 2019-07-15
answer text <p>In order to enable government departments to quickly secure resource for critical work on preparations and implementation of EU exit at pace, the Cabinet Office have put in place a set of contracts for all government departments to access. This includes a contract with Bain and Co. The contracts have been published on contracts finder and spend under this arrangement is published monthly on GOV.UK titled ‘Central EU Exit Consultancy’.</p> more like this
answering member printed Lord Young of Cookham more like this
grouped question UIN HL16910 more like this
question first answered
remove maximum value filtermore like thismore than 2019-07-15T14:53:31.09Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
567
label Biography information for Lord Hain more like this
1136760
registered interest false more like this
date less than 2019-07-03more like thismore than 2019-07-03
answering body
Cabinet Office more like this
answering dept id 53 more like this
answering dept short name Cabinet Office more like this
answering dept sort name Cabinet Office more like this
hansard heading Government Departments: Bain and Company more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government whether any government department has used Bain &amp; Company for any consultancy or advisory work since 2010. more like this
tabling member printed
Lord Hain more like this
uin HL16910 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-15more like thismore than 2019-07-15
answer text <p>In order to enable government departments to quickly secure resource for critical work on preparations and implementation of EU exit at pace, the Cabinet Office have put in place a set of contracts for all government departments to access. This includes a contract with Bain and Co. The contracts have been published on contracts finder and spend under this arrangement is published monthly on GOV.UK titled ‘Central EU Exit Consultancy’.</p> more like this
answering member printed Lord Young of Cookham more like this
grouped question UIN HL16909 more like this
question first answered
less than 2019-07-15T14:53:31.01Zmore like thismore than 2019-07-15T14:53:31.01Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
567
label Biography information for Lord Hain more like this
1136436
registered interest false more like this
date less than 2019-07-02more like thismore than 2019-07-02
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Financial Services more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what steps they are taking to invest in infrastructure projects in the UK financial services industry to help address climate change. more like this
tabling member printed
Lord Taylor of Warwick more like this
uin HL16886 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-09more like thismore than 2019-07-09
answer text <p>On 2<sup>nd</sup> July, the Government launched its Green Finance Strategy with the ambition to align private sector financial flows with clean, environmentally sustainable and resilient growth, and strengthen the competitiveness of our financial sector. The strategy outlines how we will drive the greening of the financial system and help mobilise private sector finance to meet our environmental objectives, including through infrastructure projects in the UK and overseas. We have also worked with the City of London to launch the Green Finance Institute on 2<sup>nd</sup> July.</p> more like this
answering member printed Lord Young of Cookham more like this
question first answered
less than 2019-07-09T16:22:07.617Zmore like thismore than 2019-07-09T16:22:07.617Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
1796
label Biography information for Lord Taylor of Warwick more like this
1135700
registered interest false more like this
date less than 2019-07-01more like thismore than 2019-07-01
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Married People: Tax Allowances more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government how many people claimed the Marriage Allowance in the 2018–19 financial year; and what steps they are taking to increase the uptake of that allowance. more like this
tabling member printed
Baroness Eaton more like this
uin HL16793 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-15more like thismore than 2019-07-15
answer text <p>The Marriage Allowance was introduced in April 2015 to recognise the importance of marriage and civil partnerships through the tax system, and support those on low incomes by helping them keep more of the money they earn. There were 1.78m claimants for the Marriage Allowance in 2018-19.</p><p> </p><p>The Government has taken significant steps to encourage people to claim for the Marriage Allowance. HM Revenue and Customs ran a series of both free and paid-for marketing campaigns, which ran between October 2015 and March 2017, and continue to raise awareness through ongoing communication on social media and on GOV.UK. Marriage Allowance can be claimed through the Personal Tax Account on GOV.UK or by phone to HMRC. The Marriage Allowance can be backdated to 2015-16 when it was introduced. This means eligible couples can claim a total of £1,150 if not claimed before.</p> more like this
answering member printed Lord Young of Cookham more like this
question first answered
less than 2019-07-15T14:37:52.733Zmore like thismore than 2019-07-15T14:37:52.733Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
4184
label Biography information for Baroness Eaton more like this
1135701
registered interest false more like this
date less than 2019-07-01more like thismore than 2019-07-01
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Married People: Tax Allowances more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what assessment they have made of the effectiveness of the Marriage Allowance; and what plans they have to review that allowance. more like this
tabling member printed
Baroness Eaton more like this
uin HL16794 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-15more like thismore than 2019-07-15
answer text <p>The Marriage Allowance was introduced in April 2015 to recognise the importance of marriage and civil partnerships in the tax system, and support those on low incomes by helping them keep more of the money they earn.</p><p> </p><p>The Marriage Allowance is effective as it gives extra financial support to those couples eligible for it. In 2018/19, 1.78m couples benefitted from the Marriage Allowance which is worth up to £250 a year. The Marriage Allowance can be backdated to 2015-16 when it was introduced. This means eligible couples can claim a total of £1,150 if not claimed before.</p><p> </p><p>As with all aspects of Government policy, the Marriage Allowance will be kept under review and any decisions on future changes will be taken as part of the annual Budget process in the context of the wider public finances.</p> more like this
answering member printed Lord Young of Cookham more like this
question first answered
less than 2019-07-15T14:38:24.653Zmore like thismore than 2019-07-15T14:38:24.653Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
4184
label Biography information for Baroness Eaton more like this
1135702
registered interest false more like this
date less than 2019-07-01more like thismore than 2019-07-01
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Freezing of Assets: Libya more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government how much revenue has been raised from frozen Libyan assets in London in each of the last five years for which figures are available. more like this
tabling member printed
Lord Empey more like this
uin HL16795 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-15more like thismore than 2019-07-15
answer text The Government’s response of 24 June to the Northern Ireland Affairs Committee report (into Government support for UK victims of IRA attacks that used Qadhafi-supplied Semtex and weapons) set out the information the Government had obtained about tax receipts on frozen Libyan assets held in UK banks. The response states: “Around £17 million has been received in total since the start of the 2016-17 tax year. HMRC currently receives around £5 million each year.” more like this
answering member printed Lord Young of Cookham more like this
question first answered
less than 2019-07-15T14:36:41.99Zmore like thismore than 2019-07-15T14:36:41.99Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
4216
label Biography information for Lord Empey more like this
1135748
registered interest false more like this
date less than 2019-07-01more like thismore than 2019-07-01
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Facebook: Cryptocurrencies more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what assessment they have made of the implications of Facebook’s proposed Libra cryptocurrency on the management of monetary and financial stability mechanisms and policies. more like this
tabling member printed
Lord Myners more like this
uin HL16841 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-15more like thismore than 2019-07-15
answer text <p>The Government does not comment on details of the proposed business models of individual companies. However, this proposal raises wider questions for policy and financial regulation. The Government is working with the Bank of England, the Financial Conduct Authority and international counterparts to consider these issues.</p><p> </p><p>More broadly, the Government established the Cryptoassets Taskforce – comprised of HM Treasury, the Financial Conduct Authority and the Bank of England - to explore the risks and potential benefits of cryptoassets and consider the appropriate response. The Taskforce’s response set out commitments to further consider the regulatory approach to cryptoassets. The Government will consult on its approach to unregulated cryptoassets later this year.</p><p> </p><p>The Taskforce’s final report, found that cryptoassets do not currently pose a material threat to UK or global financial stability, however this could change in the future, and the Bank of England’s Financial Policy Committee will continue to monitor the situation.</p>
answering member printed Lord Young of Cookham more like this
question first answered
less than 2019-07-15T14:04:14.17Zmore like thismore than 2019-07-15T14:04:14.17Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
3869
label Biography information for Lord Myners more like this
1135749
registered interest false more like this
date less than 2019-07-01more like thismore than 2019-07-01
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading H2O Asset Management more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government whether they intend to conduct, or commission, an investigation into the management of investment portfolios by H2O Asset Management with particular reference to (1) the valuation of unlisted investments, and (2) the accuracy and completeness of statements by that firm’s management of the "gating" of future redemptions. more like this
tabling member printed
Lord Myners more like this
uin HL16842 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-15more like thismore than 2019-07-15
answer text <p>There is no requirement for asset management firms to discuss their specific investment strategies with either HM Treasury or the FCA.</p><p> </p><p>The overarching regulatory framework for UK UCITS funds comprises EU and UK legislation and Financial Conduct Authority (FCA) rules.</p><p> </p><p>The FCA is responsible for the supervision of UK funds including UCITS, and have a broad suite of supervisory and investigative powers. For example, the FCA is required to approve the investment objective and policy of UK domiciled funds, as well as statements in the prospectus about the application of investment limits, and firms are required to treat customers fairly.</p><p> </p><p>In circumstances where a UCITS fund is domiciled outside of the UK, the supervision of its compliance with applicable UCITS investment restrictions is a matter for the home state regulator.</p><p> </p><p>If individuals have concerns about their investments, they should speak to their advisor or platform. If individuals have purchased units in a fund directly, they should speak with the relevant firm.</p>
answering member printed Lord Young of Cookham more like this
grouped question UIN HL16843 more like this
question first answered
less than 2019-07-15T14:03:24.2Zmore like thismore than 2019-07-15T14:03:24.2Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
3869
label Biography information for Lord Myners more like this
1135750
registered interest false more like this
date less than 2019-07-01more like thismore than 2019-07-01
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading H2O Asset Management more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government whether H20 Asset Management consulted (1) them, or (2) the Financial Conduct Authority, before that company indicated that it would never "gate" redemptions for its funds; what assessment they have made of the accuracy of that statement; and whether H2O Asset Management has been required to back that statement up with a guarantee or credit line. more like this
tabling member printed
Lord Myners more like this
uin HL16843 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-15more like thismore than 2019-07-15
answer text <p>There is no requirement for asset management firms to discuss their specific investment strategies with either HM Treasury or the FCA.</p><p> </p><p>The overarching regulatory framework for UK UCITS funds comprises EU and UK legislation and Financial Conduct Authority (FCA) rules.</p><p> </p><p>The FCA is responsible for the supervision of UK funds including UCITS, and have a broad suite of supervisory and investigative powers. For example, the FCA is required to approve the investment objective and policy of UK domiciled funds, as well as statements in the prospectus about the application of investment limits, and firms are required to treat customers fairly.</p><p> </p><p>In circumstances where a UCITS fund is domiciled outside of the UK, the supervision of its compliance with applicable UCITS investment restrictions is a matter for the home state regulator.</p><p> </p><p>If individuals have concerns about their investments, they should speak to their advisor or platform. If individuals have purchased units in a fund directly, they should speak with the relevant firm.</p>
answering member printed Lord Young of Cookham more like this
grouped question UIN HL16842 more like this
question first answered
less than 2019-07-15T14:03:24.153Zmore like thismore than 2019-07-15T14:03:24.153Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
3869
label Biography information for Lord Myners more like this
1135077
registered interest false more like this
date less than 2019-06-26more like thismore than 2019-06-26
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Poverty more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government, further to the reply by Baroness Buscombe on 25 June (HL Deb, col 1003), whether they will now ask the National Audit Office to examine the feasibility of implementing the cumulative social impact assessment recommended by the UN Special Rapporteur on extreme poverty and human rights; and whether they will explain what they meant by their reservation concerning "unreasonable assumptions about income sharing" set out in paragraph 38 of the Comments by the State on the UN Special Rapporteur’s report. more like this
tabling member printed
Baroness Lister of Burtersett more like this
uin HL16704 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-07-08more like thismore than 2019-07-08
answer text <p>The Treasury regularly publishes detailed analysis on the cumulative impact of policy decisions on tax, welfare and public spending on households of different incomes. The government also carefully considers the impact of its decisions on those sharing protected characteristics - including at Budgets and other fiscal events - in line with both its legal obligations and with its strong commitment to promoting fairness.</p><p>Our statement concerning income sharing reflects our reservations about producing cumulative analysis of the impact of tax and spending decisions on vulnerable groups beneath household level (for instance, by gender). This analysis often requires unreasonable assumptions about how income is shared within households. As independent experts at the Institute for Fiscal Studies have said, “because most people live in households with others, and we don't know how incomes are shared, it is very hard to look at effects separately for many men and women.”</p> more like this
answering member printed Lord Young of Cookham more like this
question first answered
less than 2019-07-08T13:51:40.527Zmore like thismore than 2019-07-08T13:51:40.527Z
answering member
57
label Biography information for Lord Young of Cookham remove filter
tabling member
4234
label Biography information for Baroness Lister of Burtersett more like this