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1054333

registered interest
date	04/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Local Government: Borrowing
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what criteria are applied by the Public Works Loan Board when a local authority seeks to borrow to acquire commercial property for investment purposes.
tabling member printed	Lord Hollick
uin	HL13388
answer	answer is ministerial correction date of answer 18/02/2019 answer text Responsibility for local authority spending and borrowing decisions lies with locally-elected council Members, who are democratically accountable to their electorates. Local authorities are required to have regard to the Prudential Code and statutory guidance when they borrow from the PWLB or from any other lender, these are published by The Chartered Institute of Public Finance and Accountancy and the Ministry of Housing, Communities and Local Government and form the Prudential Framework. The main objective of the Prudential Framework is to ensure that the capital investment plans of local authorities are affordable, prudent and sustainable. Before it can advance a loan to a local authority, the Public Works Loan Board requires formal assurance from the authority that the loan is within their borrowing powers and the relevant legislation. answering member printed Lord Bates question first answered 18/02/2019 13:37:54 answering member 1091 label Biography information for Lord Bates
tabling member	2732 label Biography information for Lord Hollick

1054337

registered interest
date	04/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Local Government: Borrowing
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps the Public Works Loan Board takes on an ongoing basis to monitor the commercial property investments acquired by local authorities and funded by the Public Works Loan Board.
tabling member printed	Lord Hollick
uin	HL13391
answer	answer is ministerial correction date of answer 18/02/2019 answer text The Ministry of Housing, Communities and Local Government (MHCLG) has stewardship of the local government sector in England. Together with the Chartered Institute of Public Finance and Accountancy (CIPFA), they maintain the statutory guidance on local authority borrowing and investment. In light of changes in local authority borrowing and investment patterns, CIPFA and MHCLG updated the prudential code and statutory guidance in 2018. In addition, local authorities must make appropriate arrangements for the appointment of an external auditor to give an opinion on their financial statements as well as arrangements for securing economy, efficiency and effectiveness in its use of resources. The Public Works Loans Board has no role in monitoring local authority activities. answering member printed Lord Bates question first answered 18/02/2019 13:39:59 answering member 1091 label Biography information for Lord Bates
tabling member	2732 label Biography information for Lord Hollick

1054339

registered interest
date	04/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Local Government: Borrowing
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government which ten local authorities borrowed the most from the Public Works Loan Board for investment in commercial properties in each of the financial years since and including 2014–15.
tabling member printed	Lord Hollick
uin	HL13393
answer	answer is ministerial correction date of answer 18/02/2019 answer text <p>The Public Works Loans Board has no role in monitoring local authority activities. Under the prudential regime, decisions on borrowing are devolved to local authorities who are democratically accountable to their electorates. Information about the purpose of PWLB loans is not centrally held.” The Ministry of Housing, Communities and Local Government (MHCLG) has stewardship of the local government sector in England. Together with the Chartered Institute of Public Finance and Accountancy (CIPFA), they maintain the statutory guidance on local authority borrowing and investment. In light of changes in local authority borrowing and investment patterns, CIPFA and MHCLG updated the prudential code and statutory guidance in 2018.</p> answering member printed Lord Bates question first answered 18/02/2019 13:39:19 answering member 1091 label Biography information for Lord Bates
tabling member	2732 label Biography information for Lord Hollick

1054359

registered interest
date	04/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tax Avoidance
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they have taken to ensure that contracts for core business functions are not entered into with companies who seek to minimise the rate of tax paid on their activity in the UK; and what assessment they have made of whether the use of any such contracts will create a conflict of interest within HMRC when it comes to enforcement of anti-avoidance legislation.
tabling member printed	Lord Lucas
uin	HL13410
answer	answer is ministerial correction date of answer 18/02/2019 answer text <p>The 2015 Public Contract Regulations introduced a new obligation for public bodies to exclude suppliers from a procurement where the supplier has been found guilty of breaching its obligations in relation to payment of taxes, and this has been established by a judicial or administrative decision having final effect within the relevant jurisdiction. This includes where HMRC have successfully challenged a potential supplier under anti-avoidance legislation.</p> answering member printed Lord Bates question first answered 18/02/2019 13:38:44 answering member 1091 label Biography information for Lord Bates
tabling member	1879 label Biography information for Lord Lucas

1052517

registered interest
date	01/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Electronic Publishing: VAT
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they plan to bring VAT on digital publications in line with printed books following the EU's decision to allow all member states to give e-books and audiobooks the same VAT-free status as printed books.
tabling member printed	The Earl of Clancarty
uin	HL13350
answer	answer is ministerial correction date of answer 14/02/2019 answer text <p>The Government keeps all taxes under review, including Value Added Tax (VAT) on e-publications.</p><p> </p><p>Any amendments to the VAT regime as it applies to physical publications and e-publications must be carefully assessed against policy, economic and fiscal considerations.</p> answering member printed Lord Bates question first answered 14/02/2019 14:55:10 answering member 1091 label Biography information for Lord Bates
tabling member	3391 label Biography information for The Earl of Clancarty

1052391

registered interest
date	31/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Self-assessment
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps first-time self-assessed taxpayers must take, including by what date they would need to begin the process, to ensure that they are able to file their tax return by 31 January; and what the penalty is for late submission due to a new applicant’s request for a Unique Taxpayers Reference not being processed in time.
tabling member printed	Baroness Neville-Rolfe
uin	HL13336
answer	answer is ministerial correction date of answer 14/02/2019 answer text <p>Customers can register to submit a self-assessment return in several ways, including online at Gov.uk, or by phoning HMRC on 03000 200 3500. After registering, the customer will receive a letter containing their 10 digit Unique Taxpayer Reference (UTR) and information on what they need to do next; this letter can take up to 10 working days to arrive.</p><p> </p><p>If the only reason for a customer filing late is that they are awaiting their UTR then, as long as they file their return within a reasonable time of receiving it, they will not have to pay a penalty.</p> answering member printed Lord Bates question first answered 14/02/2019 14:52:46 answering member 1091 label Biography information for Lord Bates
tabling member	4284 label Biography information for Baroness Neville-Rolfe

1051969

registered interest
date	30/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tobacco: Smuggling
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to tackle the sale of illegal cigarettes and to address the estimated cost to the UK economy of more than £2 billion a year in unpaid tobacco duty.
tabling member printed	Lord Porter of Spalding
uin	HL13300
answer	answer is ministerial correction date of answer 12/02/2019 answer text <p>The joint HM Revenue and Customs (HMRC)/Border Force anti-illicit tobacco strategy (‘Tackling Illicit Tobacco: From leaf to light’, published on 24 March 2015) reinforced the government’s commitment to tackling illicit tobacco throughout the supply chain to prevent its sale in the UK. At Summer Budget 2015 and Budget 2016, the government announced increased investment to fight this fraud.</p><p> </p><p>This commitment was further demonstrated at Budget 2018 when the government announced its support for creation of a UK-wide Anti-Illicit Trade Group as recommended in an All Party Parliamentary Group report.</p><p> </p><p>Effective action requires collaboration across government and HMRC and Border Force work closely with other enforcement agencies, including Trading Standards and the police, to target those involved and maximise the use of sanctions available. In the last two years alone, over 2.8 billion illicit cigarettes and nearly 640 tonnes of hand-rolling tobacco have been seized resulting in over 700 prosecutions.</p><p> </p><p>HMRC continues to introduce policies to address new threats. In 2017 it introduced the Raw Tobacco Approval Scheme and, in 2018, the Tobacco Products Manufacturing Machinery Licensing Scheme to help tackle illegal manufacturing of tobacco products in the UK. This year, HMRC will implement a new tobacco track and trace system, making it easier to identify where genuine product has been diverted into the illicit market and harder for illicit goods to enter the legitimate market.</p> answering member printed Lord Bates question first answered 12/02/2019 12:14:56 answering member 1091 label Biography information for Lord Bates
tabling member	4555 label Biography information for Lord Porter of Spalding

1051981

registered interest
date	30/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Cybersecurity
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to help encourage banks to boost their cybersecurity in order to protect customers from online fraud.
tabling member printed	Lord Taylor of Warwick
uin	HL13309
answer	answer is ministerial correction date of answer 12/02/2019 answer text <p>The Financial Authorities (HM Treasury, the Bank of England, Prudential Regulation Authority, and the Financial Conduct Authority) work together to assess, test and improve the operational resilience, including cyber resilience, of the UK financial sector. The financial sector also benefits from a dedicated team within the National Cyber Security Centre, who work closely with the Financial Authorities, and law enforcement where appropriate.</p><p> </p><p>In July 2018, the Prudential Regulation Authority and the Financial Conduct Authority published a joint Discussion Paper on an approach to improve the operational resilience, including cyber resilience, of firms and financial market infrastructures.</p><p> </p><p>The Financial Authorities have a single mechanism, the Authorities Response Framework, to coordinate a response to incidents affecting the finance sector. The Financial Authorities regularly exercise cyber incident response frameworks with the sector to assess their effectiveness and identify improvements. The Bank of England held a sector resilience exercise (SIMEX18) in November 2018 which tested the joint response by public authorities and industry to a simulated disruption.</p><p> </p><p>It has also been made easier for customers to report fraud or cybercrime to law enforcement. Action Fraud is the UK’s reporting centre for fraud and cybercrime, providing a central point of contact for information about fraud and financially motivated internet crime.</p> answering member printed Lord Bates question first answered 12/02/2019 12:13:38 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1050842

registered interest
date	29/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks
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 on the banking industry of jobs being moved out of the UK due to Brexit uncertainty.
tabling member printed	Lord Taylor of Warwick
uin	HL13261
answer	answer is ministerial correction date of answer 12/02/2019 answer text <p>The Treasury is in frequent contact with firms and regulators regarding their contingency planning for EU exit. Over time there has been a gradual reduction in the number of jobs expected to move to the EU for “day one” at the end of March 2019. Sam Woods, the Deputy Governor of the Bank of England said in July that just under 5,000 financial services jobs are likely to move by “day one”.</p><p>Further job movements will depend on factors including the actions of European regulators, market conditions, and of course, the structure of the future relationship with the EU which will be based on the Political Declaration and negotiated during the implementation period.</p><p>We remain committed to preserving our competitive position in financial services after the UK has left the European Union and leaving the EU with a deal remains the Government’s top priority. An Implementation Period is the most effective approach to ensuring a smooth and orderly exit from the EU. That is why it is so important that we redouble our efforts to reach a negotiated deal that Parliament can support.</p><p>The Government’s long-term economic analysis of EU exit, published in November 2018, sets out the impact of the UK’s White Paper position on the financial services sector.</p> answering member printed Lord Bates question first answered 12/02/2019 12:12:48 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1050845

registered interest
date	29/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	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 reassure investors following warnings of challenging market conditions due to Brexit uncertainty.
tabling member printed	Lord Taylor of Warwick
uin	HL13264
answer	answer is ministerial correction date of answer 12/02/2019 answer text <p>The Government has been clear that the best way to ensure certainty for all in the UK, including investors, is to leave the EU with a deal. The Government’s analysis illustrated that the spectrum of outcomes for the future UK-EU relationship in the Political Declaration would deliver significantly higher economic output than the no deal scenario.</p><p><strong> </strong></p><p>This is why the Prime Minister is now seeking legally binding changes to the Withdrawal Agreement that deal with MP’s concerns. While the Government is taking responsible steps to prepare for all scenarios, including ‘no deal’, we are confident we can secure a majority in Parliament for leaving the EU with a deal.</p> answering member printed Lord Bates question first answered 12/02/2019 12:11:41 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick