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705817

registered interest
date	27/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Capital Investment
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government (1) what interest rate they use for discounting future income and expenditure when evaluating capital projects; (2) which government department is responsible for determining the rate; (3) what guidelines they use; and (4) when the interest rate was last changed.
tabling member printed	Lord Myners
uin	HL5647
answer	answer is ministerial correction date of answer 10/03/2017 answer text <p>The government uses a discount rate to evaluate capital projects known as the Social Time Preference Rate. This rate is used to convert costs and benefits that occur at different points in the future to ‘present values’ thereby allowing comparison.</p><p> </p><p>This rate is currently 3.5% and tapers depending on the life of the appraisal period, as set out below.</p><p> </p><table><tbody><tr><td><p>Period of years</p></td><td><p>0–30</p></td><td><p>31–75</p></td><td><p>76–125</p></td><td><p>126–200</p></td><td><p>201–300</p></td><td><p>301+</p></td></tr><tr><td><p>Discount rate</p></td><td><p>3.5%</p></td><td><p>3.0%</p></td><td><p>2.5%</p></td><td><p>2.0%</p></td><td><p>1.5%</p></td><td><p>1.0%</p></td></tr></tbody></table><p> </p><p>These rates are set by HM Treasury through the Green Book, which is publically available central government best-practice guidance on appraisal and evaluation. The rate was last changed in 2003.</p> answering member printed Baroness Neville-Rolfe question first answered 10/03/2017 11:40:02 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

705823

registered interest
date	27/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Greater London
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is their assessment of the remarks by Dr Andreas Dombret, executive board member of the German Central Bank, that post-Brexit London would remain "the most important financial centre in Europe".
tabling member printed	Lord Patten
uin	HL5653
answer	answer is ministerial correction date of answer 10/03/2017 answer text <p>The Government welcomes Dr Dombret’s assessment of London as the European hub for financial services and shares his vision of the UK’s continuing strength and status in this vital industry.</p><p> </p><p>We are absolutely clear that a flourishing UK financial services sector is in everyone’s interests. At present 60% of European capital markets business is conducted through the UK and in 2015 our firms provided more than £1.1 trillion of lending to the EU. In addition to a world-class legal system and expertise in accountancy and project management, the UK is home to leading regulators and hosts financial markets of breadth, depth and concentration. This is unmatched in Europe and almost anywhere in the world.</p><p> </p><p>Therefore, an enduring relationship in financial services is in the mutual interest of both the EU and the UK. This is one of the areas where a bold and ambitious agreement will be sought. We want to ensure that British companies have the maximum freedom to trade with and operate within European markets – and to agree mutual arrangements that let European businesses do the same in Britain.</p><p> </p><p>As we prepare to leave the EU, we are determined to preserve this status and to reach an agreement that will allow the UK to provide the finance that helps the European economy grow and create jobs. In any event, London will continue to represent an attractive place to do business, and will continue to be a world-leading, global financial centre.</p> answering member printed Baroness Neville-Rolfe question first answered 10/03/2017 11:38:39 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	1137 label Biography information for Lord Patten

694333

registered interest
date	24/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Money Laundering
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Written Answer by Baroness Neville-Rolfe on 20 February (HL5284), what assessment they have made of the impact of HM Revenue and Customs enforcement actions in relation to money laundering.
tabling member printed	Lord Wills
uin	HL5607
answer	answer is ministerial correction date of answer 09/03/2017 answer text <p>Tackling money laundering is a UK-wide issue and receives a cross-Government response. HM Revenue and Customs (HMRC) supervises specific sectors, and investigates high risk activity, in close collaboration with other supervisors and law enforcement agencies.</p><p> </p><p>Effectiveness is best assessed in the round. The latest UK national risk assessment of money laundering and terrorist financing is published on gov.uk<sup><sup>[1]</sup></sup>. The assessment factors in information about the impact of anti-money laundering activities, including contributions from across HMRC and other organisations.</p><p> </p><p> </p><p>[1] <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/468210/UK_NRA_October_2015_final_web.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/468210/UK_NRA_October_2015_final_web.pdf</a></p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 09/03/2017 14:06:08 answering member 4284 label Biography information for Baroness Neville-Rolfe attachment 1 file name UK_NRA_October_2015_final_web.pdf title The latest UK national risk assessment of money la
tabling member	260 label Biography information for Lord Wills

694337

registered interest
date	24/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Works Loan Board
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government how much has been lent by the Public Works Loan Board (PWLB) to local authorities for the acquisition of commercial real estate for investment purposes, from 2011 to 2016 inclusive; and how the PWLB is monitoring the risk from such investments.
tabling member printed	Lord Myners
uin	HL5611
answer	answer is ministerial correction date of answer 06/03/2017 answer text <p>The Public Works Loan Board (PWLB) is a statutory body that issues loans to local authorities in England, Scotland and Wales from the National Loans Fund. The PWLB is not required to collect information on the specific reasons that local authorities borrow from it, and so it does not hold information about the amount of lending that has been used for acquisition of commercial real estate.</p><p>Before it can advance a loan to a local authority, the PWLB requires formal assurance from the authority that the loan is within their borrowing powers and the relevant legislation. Local authorities are required to have regard to the Prudential Code when they borrow from the PWLB or from any other lender. The main objective of the Prudential Code is to ensure, within a clear framework, that the capital investment plans of local authorities are affordable, prudent and sustainable. Responsibility for local authority spending and borrowing decisions lies with locally-elected council Members, who are democratically accountable to their electorates.</p> answering member printed Baroness Neville-Rolfe question first answered 06/03/2017 16:11:04 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

694340

registered interest
date	24/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	European Parliament Members: Per Capita Costs
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is the average cost to the British taxpayer, including salary and expenses but excluding building maintenance costs, of a UK Member of the European Parliament.
tabling member printed	Lord Pearson of Rannoch
uin	HL5614
answer	answer is ministerial correction date of answer 09/03/2017 answer text <p>The terms and conditions of MEPs are set out in the Statute for Members of the European Parliament. As of July 2016 the gross monthly salary of an MEP is €8,484.05. MEPs are also entitled to a monthly €4,342 general expenditure allowance covering staff and office costs, and allowances for travel and subsistence.</p><p> </p><p>As the government contributes to the EU budget as a whole and not to individual programmes or institutions, it is not possible to say how much this costs the British taxpayer.</p> answering member printed Baroness Neville-Rolfe question first answered 09/03/2017 13:52:02 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3153 label Biography information for Lord Pearson of Rannoch

693669

registered interest
date	23/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Non-domestic Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is their estimate of (1) the total rateable value (a) before, and (b) after, the current business rate revaluation as at 1 April 2015, and (2) the percentage change as a result of the revaluation, of (i) office property, (ii) shop property, (iii) industrial and warehouse property, (iv) public house and restaurant property, (v) hotels, (vi) car showrooms, and (vii) supermarkets, for each standard region of England, and for the nations of England and Wales.
tabling member printed	Lord Oakeshott of Seagrove Bay
uin	HL5573
answer	answer is ministerial correction date of answer 07/03/2017 answer text <p>1 April 2015 is the point in time at which the rateable values are set, known as the antecedent valuation date. The new rating lists come into effect following revaluation after 1 April 2017.</p><p> </p><p>Official statistics were published on 6 October 2016 on the change in rateable values between the 2010 and 2017 rating lists following revaluation<sup><sup>[1]</sup></sup>. These includes the change in percentage terms of the total rateable value for England, Wales and each region of England (Table RV1.1) and by broad business sector (tables 1.1 to 1.4).</p><p> </p><p>Further information has also been published, consistent with the official statistics, providing the change in rateable value by business category and by region.<sup><sup>[2]</sup></sup><sup>.</sup></p><p> </p><p> </p><p>[1] <a href="https://www.gov.uk/government/statistics/non-domestic-rating-change-in-rateable-value-of-rating-lists-england-and-wales-2017-revaluation" target="_blank">https://www.gov.uk/government/statistics/non-domestic-rating-change-in-rateable-value-of-rating-lists-england-and-wales-2017-revaluation</a></p><p> </p><p>[2] <a href="https://www.gov.uk/government/publications/non-domestic-rating-2010-and-2017-revaluation-rateable-values-by-country-region-and-scat-code" target="_blank">https://www.gov.uk/government/publications/non-domestic-rating-2010-and-2017-revaluation-rateable-values-by-country-region-and-scat-code</a></p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 07/03/2017 15:22:06 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	2536 label Biography information for Lord Oakeshott of Seagrove Bay

693050

registered interest
date	22/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Fuels: Tax Evasion
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government how many persons in the UK have been convicted of fuel laundering offences during the last three years for which figures are available; and in what regions of the UK were those offences committed.
tabling member printed	Lord Empey
uin	HL5537
answer	answer is ministerial correction date of answer 07/03/2017 answer text <p>HM Revenue and Customs (HMRC) operational data does not break down statistics for oils convictions to separate out those arising from fuel laundering. Total convictions for oils offences in the UK for the last complete three years for which figures are available were as follows:</p><p> </p><table><tbody><tr><td><p>Convictions</p></td><td><p>2013-14</p></td><td><p>2014-15</p></td><td><p>2015-16</p></td></tr><tr><td><p>Northern Ireland</p></td><td><p>9</p></td><td><p>5</p></td><td><p>17</p></td></tr><tr><td><p>Great Britain</p></td><td><p>1</p></td><td><p>1</p></td><td><p>6</p></td></tr><tr><td><p>Total UK</p></td><td><p>10</p></td><td><p>6</p></td><td><p>23</p></td></tr></tbody></table><p> </p><p> </p><p>The latest tax gap figures published on 20 October 2016 estimate losses from all fuel fraud in the UK to be less than £100m in 2014-15. These estimates cannot be disaggregated by type of fraud such as smuggling or laundering.</p><p> </p><p>HMRC does not separately identify the amounts of laundered fuel seized as part of its activity to combat fuel fraud.</p><p> </p><p>HMRC works closely with the Revenue Commissioners in the Republic of Ireland to fight fuel fraud on a wide range of fronts. This multi-agency approach includes regular exchange of information and joint operational activity.</p><p> </p><p>Additionally, the UK has implemented an improved marker for rebated fuel, which is making it much harder to launder marked fuel and sell it at a profit. The Republic of Ireland has also introduced the same new marker.</p> answering member printed Baroness Neville-Rolfe grouped question UIN HL5538 HL5539 HL5540 question first answered 07/03/2017 15:15:14 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	4216 label Biography information for Lord Empey

693051

registered interest
date	22/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Fuels: Tax Evasion
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what volume of laundered fuel has been seized in the United Kingdom in the last three years for which figures are available.
tabling member printed	Lord Empey
uin	HL5538
answer	answer is ministerial correction date of answer 07/03/2017 answer text <p>HM Revenue and Customs (HMRC) operational data does not break down statistics for oils convictions to separate out those arising from fuel laundering. Total convictions for oils offences in the UK for the last complete three years for which figures are available were as follows:</p><p> </p><table><tbody><tr><td><p>Convictions</p></td><td><p>2013-14</p></td><td><p>2014-15</p></td><td><p>2015-16</p></td></tr><tr><td><p>Northern Ireland</p></td><td><p>9</p></td><td><p>5</p></td><td><p>17</p></td></tr><tr><td><p>Great Britain</p></td><td><p>1</p></td><td><p>1</p></td><td><p>6</p></td></tr><tr><td><p>Total UK</p></td><td><p>10</p></td><td><p>6</p></td><td><p>23</p></td></tr></tbody></table><p> </p><p> </p><p>The latest tax gap figures published on 20 October 2016 estimate losses from all fuel fraud in the UK to be less than £100m in 2014-15. These estimates cannot be disaggregated by type of fraud such as smuggling or laundering.</p><p> </p><p>HMRC does not separately identify the amounts of laundered fuel seized as part of its activity to combat fuel fraud.</p><p> </p><p>HMRC works closely with the Revenue Commissioners in the Republic of Ireland to fight fuel fraud on a wide range of fronts. This multi-agency approach includes regular exchange of information and joint operational activity.</p><p> </p><p>Additionally, the UK has implemented an improved marker for rebated fuel, which is making it much harder to launder marked fuel and sell it at a profit. The Republic of Ireland has also introduced the same new marker.</p> answering member printed Baroness Neville-Rolfe grouped question UIN HL5537 HL5539 HL5540 question first answered 07/03/2017 15:15:14 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	4216 label Biography information for Lord Empey

693052

registered interest
date	22/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Fuels: Tax Evasion
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of how much revenue is being lost to HM Treasury as a result of fuel smuggling and laundering in the UK.
tabling member printed	Lord Empey
uin	HL5539
answer	answer is ministerial correction date of answer 07/03/2017 answer text <p>HM Revenue and Customs (HMRC) operational data does not break down statistics for oils convictions to separate out those arising from fuel laundering. Total convictions for oils offences in the UK for the last complete three years for which figures are available were as follows:</p><p> </p><table><tbody><tr><td><p>Convictions</p></td><td><p>2013-14</p></td><td><p>2014-15</p></td><td><p>2015-16</p></td></tr><tr><td><p>Northern Ireland</p></td><td><p>9</p></td><td><p>5</p></td><td><p>17</p></td></tr><tr><td><p>Great Britain</p></td><td><p>1</p></td><td><p>1</p></td><td><p>6</p></td></tr><tr><td><p>Total UK</p></td><td><p>10</p></td><td><p>6</p></td><td><p>23</p></td></tr></tbody></table><p> </p><p> </p><p>The latest tax gap figures published on 20 October 2016 estimate losses from all fuel fraud in the UK to be less than £100m in 2014-15. These estimates cannot be disaggregated by type of fraud such as smuggling or laundering.</p><p> </p><p>HMRC does not separately identify the amounts of laundered fuel seized as part of its activity to combat fuel fraud.</p><p> </p><p>HMRC works closely with the Revenue Commissioners in the Republic of Ireland to fight fuel fraud on a wide range of fronts. This multi-agency approach includes regular exchange of information and joint operational activity.</p><p> </p><p>Additionally, the UK has implemented an improved marker for rebated fuel, which is making it much harder to launder marked fuel and sell it at a profit. The Republic of Ireland has also introduced the same new marker.</p> answering member printed Baroness Neville-Rolfe grouped question UIN HL5537 HL5538 HL5540 question first answered 07/03/2017 15:15:14 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	4216 label Biography information for Lord Empey

693053

registered interest
date	22/02/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Fuels: Tax Evasion
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what steps they are taking with the government of the Republic of Ireland to disrupt the activities of persons engaged in fuel laundering and smuggling in the border areas of both jurisdictions.
tabling member printed	Lord Empey
uin	HL5540
answer	answer is ministerial correction date of answer 07/03/2017 answer text <p>HM Revenue and Customs (HMRC) operational data does not break down statistics for oils convictions to separate out those arising from fuel laundering. Total convictions for oils offences in the UK for the last complete three years for which figures are available were as follows:</p><p> </p><table><tbody><tr><td><p>Convictions</p></td><td><p>2013-14</p></td><td><p>2014-15</p></td><td><p>2015-16</p></td></tr><tr><td><p>Northern Ireland</p></td><td><p>9</p></td><td><p>5</p></td><td><p>17</p></td></tr><tr><td><p>Great Britain</p></td><td><p>1</p></td><td><p>1</p></td><td><p>6</p></td></tr><tr><td><p>Total UK</p></td><td><p>10</p></td><td><p>6</p></td><td><p>23</p></td></tr></tbody></table><p> </p><p> </p><p>The latest tax gap figures published on 20 October 2016 estimate losses from all fuel fraud in the UK to be less than £100m in 2014-15. These estimates cannot be disaggregated by type of fraud such as smuggling or laundering.</p><p> </p><p>HMRC does not separately identify the amounts of laundered fuel seized as part of its activity to combat fuel fraud.</p><p> </p><p>HMRC works closely with the Revenue Commissioners in the Republic of Ireland to fight fuel fraud on a wide range of fronts. This multi-agency approach includes regular exchange of information and joint operational activity.</p><p> </p><p>Additionally, the UK has implemented an improved marker for rebated fuel, which is making it much harder to launder marked fuel and sell it at a profit. The Republic of Ireland has also introduced the same new marker.</p> answering member printed Baroness Neville-Rolfe grouped question UIN HL5537 HL5538 HL5539 question first answered 07/03/2017 15:15:14 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	4216 label Biography information for Lord Empey