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626828

registered interest
date	01/11/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Markets
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what directions they have issued to the Financial Conduct Authority's members on the European Securities and Markets Authority concerning representations they should make on the location of central clearing houses and the protocols for offsetting collateral, and how this work is being co-ordinated with the UK’s overall negotiating strategy with the EU.
tabling member printed	Lord Myners
uin	HL2906
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>The ability to clear financial instruments denominated in different currencies in the same UK clearing house (CCP) brings considerable efficiency savings to customers. UK CCPs are supervised to the highest global standards by the Bank of England and the Government will continue to ensure the UK’s financial industry remains a world leader.</p> answering member printed Lord Young of Cookham question first answered 08/11/2016 15:56:03 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

622442

registered interest
date	27/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Written Answer by Lord Young of Cookham on 25 October (HL2200), whether they will consider using a more flexible and variable approach to setting VAT and Excise duties for different goods and services to improve the nation's health and wellbeing, after the UK leaves the EU.
tabling member printed	Lord Brooke of Alverthorpe
uin	HL2763
answer	answer is ministerial correction date of answer 10/11/2016 answer text <p>As I stated in my answer of 25 October (HL2200), until the UK has left the EU, we will remain a member of the EU with all the rights and obligations that membership entails.</p><p> </p><p>The Government will work hard to get the best deal for Britain, including for VAT and excise, and is determined to make the most of the opportunities that are presented.</p> answering member printed Lord Young of Cookham question first answered 10/11/2016 12:46:48 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3335 label Biography information for Lord Brooke of Alverthorpe

622475

registered interest
date	27/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Private Equity
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they intend to review the tax benefits extended to private equity partners by the application of a special rate to carried interest income.
tabling member printed	Lord Myners
uin	HL2796
answer	answer is ministerial correction date of answer 10/11/2016 answer text <p>The Government has taken decisive steps to ensure that asset managers pay their fair share of tax. In Summer Budget 2015, the Government closed loopholes to ensure that asset managers pay the right amount of Capital Gains Tax on their carried interest.</p><p> </p><p>Legislation in the Finance Act 2016 ensures that this carried interest remains subject to a Capital Gains Tax rate of 28% for higher and additional rate tax payers, despite the cut in the main rate of Capital Gains Tax to 20%.</p><p> </p><p>In addition, legislation in the Finance Act 2016 ensures that asset managers engaged in short-term trading activity are subject to income tax on the carried interest they receive, rather than Capital Gains Tax.</p> answering member printed Lord Young of Cookham question first answered 10/11/2016 12:24:20 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

621909

registered interest
date	26/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Heathrow Airport
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 Barnet Consequential Payments to the devolved administrations arising from the proposed third runway at Heathrow Airport.
tabling member printed	Lord Wigley
uin	HL2715
answer	answer is ministerial correction date of answer 03/11/2016 answer text <p>We do not expect there to be Barnett consequential payments arising from the third runway itself at Heathrow Airport, because the scheme is privately financed.</p><p> </p><p>Heathrow Airport Ltd has also pledged to meet the costs of any surface access proposals that are essential to deliver airport expansion. Where projects have wider public benefits, the Government will consider the need for additional public funding on a case by case basis in line with the Aviation Policy Framework. For any additional UK Government spending the Barnett formula will be applied in the usual way at the appropriate time.</p> answering member printed Lord Young of Cookham question first answered 03/11/2016 15:55:47 answering member 57 label Biography information for Lord Young of Cookham
tabling member	547 label Biography information for Lord Wigley

621930

registered interest
date	26/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	EU Budget: Contributions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government at current exchange rates what is the UK's (1) gross, and (2) net, contribution in sterling to the EU budget; and how those figures were calculated.
tabling member printed	Lord Pearson of Rannoch
uin	HL2736
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>Details of UK net contributions to the EU Budget over the period 2011-12 to 2015-16 can be found in Table C1, page 194, of the 2016 Public Expenditure Statistical Analyses (Cm 9322) which was published in July, and is available in the House library.</p><p> </p><p>This table also includes the Office for Budget Responsibility’s March forecast of UK net contributions to the EU Budget for the period 2016-17 to 2019-20.</p> answering member printed Lord Young of Cookham question first answered 08/11/2016 16:38:43 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3153 label Biography information for Lord Pearson of Rannoch

621123

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	World War I: Debts
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Written Answer by Lord Young of Cookham on 25 October (HL2303), what proportion of the redemptions were made to the US, and when.
tabling member printed	Lord Laird
uin	HL2640
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>The War Bonds referenced in HL2303 were largely held by British citizens, and originally sold by the government as a way to support the war effort. One of these, the 3½ War Loan, was the most widely held gilt, with more than 120,000 holders at the time of redemption, of which 97,000 held less than £1,000 nominal. The Treasury does not hold detailed information on the identity of underlying individuals or organisations who own gilts. In any case, information relating to who may have received payment in respect of the redemption of these gilts is not reflective of who may have originally contributed to the war effort as the bonds have been freely traded in the intervening period. However, I can confirm that £2.3 million was repaid to registered holders with an address in the United States (0.09% of the total amount outstanding at the time of redemption).</p> answering member printed Lord Young of Cookham question first answered 08/11/2016 15:56:41 answering member 57 label Biography information for Lord Young of Cookham
tabling member	2479 label Biography information for Lord Laird

621129

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
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 of the volatility of sterling on savers, pensioners and other investments generally.
tabling member printed	Baroness McIntosh of Pickering
uin	HL2646
answer	answer is ministerial correction date of answer 03/11/2016 answer text <p>The Government does not have a target for the sterling exchange rate and does not comment on currency movements. Instead the exchange rate is allowed to adjust flexibly in response to economic conditions, and movements in sterling are determined by market forces.</p><p> </p><p>We are going through a period of adjustment as the economy responds to the vote to leave the European Union. The fundamental strength of the UK economy means that it is well-placed to deal with the challenges and take advantage of the opportunities that lie ahead. The Government is working hard to lay the foundations for stable long term growth which will benefit savers, pensioners and all other groups.</p> answering member printed Lord Young of Cookham question first answered 03/11/2016 15:49:10 answering member 57 label Biography information for Lord Young of Cookham
tabling member	384 label Biography information for Baroness McIntosh of Pickering

621140

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is their latest estimate of the effect of the loss of value of the pound sterling on the 2016–17 estimated budget deficit.
tabling member printed	Lord Wigley
uin	HL2657
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>There have been no new estimates for the 2016-17 budget deficit since March 2016. The independent Office for Budget Responsibility will produce an updated forecast for the 2016-17 budget deficit at the Autumn Statement on 23 November. This will take into account the most recent economic data, including changes in exchange rates and their independent judgments.</p><p> </p> answering member printed Lord Young of Cookham question first answered 08/11/2016 15:56:58 answering member 57 label Biography information for Lord Young of Cookham
tabling member	547 label Biography information for Lord Wigley

621160

registered interest
date	25/10/2016
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 what steps they plan to take in response to any impact on retail prices of the UK’s decision to leave the EU.
tabling member printed	Lord Taylor of Warwick
uin	HL2677
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>The independent Monetary Policy Committee (MPC) of the Bank of England has responsibility for monetary policy, and its remit it set by the Government. The MPC’s primary objective is to ensure price stability, which the Government believes to be an essential pre-requisite to longer-term growth and macroeconomic stability.</p><p>The MPC considers the impact of wide range of financial market and economic factors on consumer prices in determining the appropriate setting of monetary policy.</p> answering member printed Lord Young of Cookham question first answered 08/11/2016 16:20:40 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

621163

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Sector Debt
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what steps they are taking to reduce the UK’s national debt.
tabling member printed	Lord Taylor of Warwick
uin	HL2680
answer	answer is ministerial correction date of answer 07/11/2016 answer text <p>The government has already reduced the annual deficit by almost two-thirds from 10.1% of GDP in 2009-10 to 4% of GDP in 2015-16. However, at 84% of GDP last year, Public Sector Net Debt remains too high. The government will set out its plan to ensure long-term fiscal sustainability at Autumn Statement on 23<sup>rd</sup> November.</p> answering member printed Lord Young of Cookham question first answered 07/11/2016 14:22:01 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick