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1141516

registered interest
date	23/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insolvency
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 that the proposal to make HMRC a secondary preferential creditor in insolvencies may have on business rescue support in the UK from April 2020.
tabling member printed	Baroness Burt of Solihull
uin	HL17384
answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business’s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.</p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.</p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK’s ranking in the World Bank’s annual “Doing Business” report.</p><p>Consistent with the Government’s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.</p> answering member printed Lord Young of Cookham grouped question UIN HL17385 HL17386 HL17387 question first answered 06/08/2019 13:34:00 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1567 label Biography information for Baroness Burt of Solihull

1141517

registered interest
date	23/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insolvency
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 that their proposal to make HMRC a secondary preferential creditor in insolvencies will have on the UK’s ranking in the World Bank’s annual "Doing Business" report.
tabling member printed	Baroness Burt of Solihull
uin	HL17385
answer	answer is ministerial correction date of answer 06/08/2019 answer text <p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business’s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.</p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.</p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK’s ranking in the World Bank’s annual “Doing Business” report.</p><p>Consistent with the Government’s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.</p> answering member printed Lord Young of Cookham grouped question UIN HL17384 HL17386 HL17387 question first answered 06/08/2019 13:34:00 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1567 label Biography information for Baroness Burt of Solihull

1141192

registered interest
date	22/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Infrastructure
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to implement a national infrastructure strategy to increase business growth after Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL17375
answer	answer is ministerial correction date of answer 23/07/2019 answer text <p>High quality infrastructure is crucial for supporting business growth.</p><p> </p><p>The Government established the National Infrastructure Commission (NIC) in 2015 to provide impartial, expert advice on major long-term infrastructure challenges.</p><p> </p><p>The NIC published their first National Infrastructure Assessment (NIA) last year, setting out their assessment of the UK’s long-term infrastructure needs.</p><p> </p><p>The NIA made over 60 recommendations, and the Government is planning to respond in full to all of the recommendations through a National Infrastructure Strategy, to be published later this year.</p> answering member printed Lord Young of Cookham question first answered 23/07/2019 16:29:08 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1140446

registered interest
date	18/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Trade with EU
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how many cross-Channel transport companies have (1) applied for, and (2) received, Economic Operator Registration and Identification numbers to enable cross-Channel transport after Brexit; and what percentage of cross-Channel unitised transport those companies represent.
tabling member printed	Lord Berkeley
uin	HL17279
answer	answer is ministerial correction date of answer 23/07/2019 answer text <p>If the UK leaves the EU without a deal, businesses will need to have a UK Economic Operator Registration and Identification (EORI) number to trade goods in to or out of the UK. Since December 2018, through to 14 July 2019, HM Revenue and Customs (HMRC) has issued 66,000 EORI numbers, which are still live. HMRC has issued UK EORI numbers to all traders who registered for a number and did not already possess one at the time of their registration. HMRC does not hold data on how many of these traders are cross-Channel transport companies.</p><p> </p> answering member printed Lord Young of Cookham question first answered 23/07/2019 11:17:36 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3526 label Biography information for Lord Berkeley

1138559

registered interest
date	11/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Tax Allowances
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 implications of recent changes to the Lifetime Allowance for pension benefits for those in (1) the legal profession, (2) the medical profession, and (3) other professions; and of the case for reviewing those changes.
tabling member printed	Baroness McIntosh of Pickering
uin	HL17117
answer	answer is ministerial correction date of answer 18/07/2019 answer text <p>Pensions tax relief is one of the most expensive reliefs in the personal tax system. In 2017/18 income tax and employer National Insurance Contributions relief cost over £50 billion, with around two-thirds going to higher and additional rate taxpayers. As confirmed at Autumn Budget 2017, from April 2018 the lifetime allowance will increase in line with CPI, in order that the value of this benefit is able to keep pace with inflation. This means from April 2019 the lifetime allowance has risen to £1,055,000.</p><p> </p><p>The same tax rules must apply identically to everyone in the same situation, regardless of their employer.</p><p> </p><p>However, across all public service workforces the Government looks at remuneration in the round and takes action when required to ensure delivery of world class public services. Where there is evidence that the delivery of services is being impacted, the Government takes appropriate action to address this, in line with our principles for pay and pensions policy. This is why we have introduced a temporary, taxable, Recruitment and Retention allowance for a small section of the judiciary, and will shortly bring forward a consultation on a new 50:50 pensions flexibility for senior clinicians in the NHS pension scheme.</p><p> </p><p>All aspects of the tax system are kept under review and are subject to change through the annual Budget, in the context of the wider public finances. Any future changes to the tax system will be announced through this process.</p><p> </p> answering member printed Lord Young of Cookham question first answered 18/07/2019 11:12:10 answering member 57 label Biography information for Lord Young of Cookham
tabling member	384 label Biography information for Baroness McIntosh of Pickering

1138277

registered interest
date	10/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Trade with EU
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether officials have visited the Sweden–Norway border to discuss with the governments of Sweden and Norway the impact of border arrangements on the passage and monitoring of goods across that border; and what conclusions they have drawn from their enquiries.
tabling member printed	Lord Bassam of Brighton
uin	HL17074
answer	answer is ministerial correction date of answer 23/07/2019 answer text <p>HM Revenue &amp; Customs and HM Treasury officials visited the Sweden-Norway border in 2017, where border arrangements were discussed with Norwegian officials at a working level. The visit offered greater understanding of how the Norwegian facilitative regime operates outside of the customs union.</p> answering member printed Lord Young of Cookham question first answered 23/07/2019 16:16:27 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3504 label Biography information for Lord Bassam of Brighton

1137076

registered interest
date	04/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insurance Companies: 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 promote investment by the insurance industry into applied research, new technologies, and infrastructure; whether information about any such investments will be published on an annual basis; and if so, where.
tabling member printed	Lord Hunt of Chesterton
uin	HL16940
answer	answer is ministerial correction date of answer 17/07/2019 answer text <p>The treatment of infrastructure investment by insurance undertakings for the purposes of prudential regulation is set by the Solvency II Directive. In March 2019, the EU adopted new Solvency II rules to help insurers to invest in equity and private debt and to provide long-term capital financing. This means that insurers will be able to hold less capital for such investments and will therefore find such investments more attractive. The Government does not collect information about such investments, but individual insurance firms often include such details in their annual reports.</p><p><em> </em></p>The government provides competitive R&amp;D tax reliefs to support businesses to invest. Support for businesses through R&amp;D tax reliefs rose to £3.7 billion in 2015-16, up by almost a quarter from the previous year. The government is also carrying out the Infrastructure Finance Review, to support private infrastructure investment and ensure that infrastructure projects, including those using new technologies, are able to access the finance they need. The review will conclude alongside the National Infrastructure Strategy in the Autumn.<p> </p>In 2018, the UK Government provided £20m of ‘pioneer funding’ through the Next Generation Services Industrial Strategy Challenge Fund to explore how new technologies could transform the UK accountancy, insurance and legal services industries<p> </p> answering member printed Lord Young of Cookham question first answered 17/07/2019 16:31:26 answering member 57 label Biography information for Lord Young of Cookham
tabling member	2543 label Biography information for Lord Hunt of Chesterton