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773532

registered interest
date	19/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Credit: Interest Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is their assessment of the consumer and systematic risk arising from high-cost credit products.
tabling member printed	Lord Birt
uin	HL2247
answer	answer is ministerial correction date of answer 30/10/2017 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market, transferring regulatory responsibility to the Financial Conduct Authority (FCA) on 1 April 2014. Since the transfer, the FCA has taken a proactive approach on consumer credit, to ensure that all consumers who use high-cost credit products are treated fairly. The Government welcomes the ongoing work of the FCA to review the high-cost credit market.</p><p> </p><p>The government established an independent Financial Policy Committee (FPC) and gave the FPC a primary objective to identify, monitor and take action to remove or reduce systemic risks with a view to protecting and enhancing financial stability. To ensure lenders are resilient to defaults related to consumer credit, the FPC has acted to accelerate its analysis of credit losses that banks could incur in the very deep recession encapsulated in the 2017 annual stress test scenario. The FPC has stated that regulatory capital buffers for individual firms will be set following the full stress test results so that each bank can absorb its losses on consumer lending, alongside all the other effects of the stress scenario on its balance sheet.</p> answering member printed Lord Bates question first answered 30/10/2017 16:28:28 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

773539

registered interest
date	19/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Funerals
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 current level of protection for consumers purchasing a funeral plan, including protection from inappropriate sales and marketing practices.
tabling member printed	Baroness Burt of Solihull
uin	HL2254
answer	answer is ministerial correction date of answer 30/10/2017 answer text <p>The provision of a funeral plan is defined as a regulated activity and falls within the Financial Conduct Authority’s regulatory remit unless specific exemption criteria are met. This arrangement and these exemption criteria are set out in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.</p><p>This legislation exempts funeral plan providers from the Financial Conduct Authority’s regulatory remit where the following financial arrangements are conducted, which are designed to ensure that the customer’s payments are secure:</p><p> </p><ol><ol><li><p>the customer’s money is held in a trust fund, where more than half of the trustees are unconnected with the funeral plan provider. This trust must be managed by an authorised fund manager and be overseen by a Fellow of the Institute and Faculty of Actuaries; or</p></li><li><p>the customer’s money is placed in a life insurance policy, issued by an authorised insurer.</p><p> </p><p>HM Treasury sets the legislative framework for the regulation of financial services, including the provision of funeral plans, and continues to keep such exemptions under review to ensure the maintenance of effective prudential and conduct standards.</p></li></ol></ol> answering member printed Lord Bates grouped question UIN HL2255 question first answered 30/10/2017 16:29:25 answering member 1091 label Biography information for Lord Bates
tabling member	1567 label Biography information for Baroness Burt of Solihull

773540

registered interest
date	19/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Funerals
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they have any plans to strengthen the regulation of the funeral plan market in order to improve consumer protection.
tabling member printed	Baroness Burt of Solihull
uin	HL2255
answer	answer is ministerial correction date of answer 30/10/2017 answer text <p>The provision of a funeral plan is defined as a regulated activity and falls within the Financial Conduct Authority’s regulatory remit unless specific exemption criteria are met. This arrangement and these exemption criteria are set out in the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001.</p><p>This legislation exempts funeral plan providers from the Financial Conduct Authority’s regulatory remit where the following financial arrangements are conducted, which are designed to ensure that the customer’s payments are secure:</p><p> </p><ol><ol><li><p>the customer’s money is held in a trust fund, where more than half of the trustees are unconnected with the funeral plan provider. This trust must be managed by an authorised fund manager and be overseen by a Fellow of the Institute and Faculty of Actuaries; or</p></li><li><p>the customer’s money is placed in a life insurance policy, issued by an authorised insurer.</p><p> </p><p>HM Treasury sets the legislative framework for the regulation of financial services, including the provision of funeral plans, and continues to keep such exemptions under review to ensure the maintenance of effective prudential and conduct standards.</p></li></ol></ol> answering member printed Lord Bates grouped question UIN HL2254 question first answered 30/10/2017 16:29:25 answering member 1091 label Biography information for Lord Bates
tabling member	1567 label Biography information for Baroness Burt of Solihull

773570

registered interest
date	19/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Brexit
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government (1) what calculations they have made to substantiate the view, expressed by the Secretary of State for International Trade on BBC News on 17 October, that a negotiated Brexit deal would allow for slightly more economic growth than departure from the EU without such a deal, and (2) as a result of such calculations, what assessment they have made of the growth differential between a negotiated Brexit and leaving the EU without such a deal.
tabling member printed	Lord Myners
uin	HL2285
answer	answer is ministerial correction date of answer 01/11/2017 answer text <p>The Government has undertaken a significant amount of work to assess the economic impacts of leaving the EU. This is part of our continued programme of rigorous and extensive analytical work on a range of scenarios on a sector by sector basis.</p><p> </p><p>It would not be appropriate to publish analysis that would risk damaging our negotiating position. In any negotiation, information on potential economic considerations is very important to the negotiating capital and negotiating position of all parties. The Government has committed to keep Parliament informed provided that doing so would not risk damaging our negotiating position.</p> answering member printed Lord Bates question first answered 01/11/2017 12:51:28 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

773573

registered interest
date	19/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Monarch Airlines: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what was the cost to the taxpayer of repatriating the UK customers of Monarch Airlines.
tabling member printed	Lord Myners
uin	HL2288
answer	answer is ministerial correction date of answer 01/11/2017 answer text <p>The costs of repatriating Monarch’s ATOL protected customers will be met by the ATOL scheme. The costs of repatriating all other passengers will be met by Her Majesty’s Government.</p><p> </p><p>The Civil Aviation Authority has estimated the total repatriation costs to be approximately £60m, although some of these costs will be met by the ATOL scheme. Government is also seeking to recover costs through credit card companies and travel providers who would otherwise be liable. HM Treasury has not made its own assessment of the costs and do not produce forecasts of future tax payments by specific taxpayers.</p> answering member printed Lord Bates grouped question UIN HL2222 HL2223 question first answered 01/11/2017 12:49:21 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

773574

registered interest
date	19/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Students: Loans
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is the cost to the Exchequer of the recently announced changes to student loan repayments.
tabling member printed	Baroness Neville-Rolfe
uin	HL2289
answer	answer is ministerial correction date of answer 01/11/2017 answer text <p>The government will set out the cost to the Exchequer of the recently announced changes to the repayment threshold for Plan 2 students in England next month.</p> answering member printed Lord Bates question first answered 01/11/2017 12:50:58 answering member 1091 label Biography information for Lord Bates
tabling member	4284 label Biography information for Baroness Neville-Rolfe

773575

registered interest
date	19/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Employees' Contributions: Young People
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what the cost would be of removing the payment of employee national insurance by people under 26.
tabling member printed	Baroness Neville-Rolfe
uin	HL2290
answer	answer is ministerial correction date of answer 02/11/2017 answer text <p>The information requested is not readily available and could be provided only at disproportionate cost.</p><p> </p><p>HMRC does not hold an estimate of the cost of making this policy change. In order to do so would require the modelling of the cost in pre-behaviour terms as well as a number of behavioral adjustments to the costing driven by the differential NICs rates on different income streams this policy would create for those under 26.</p><p> </p> answering member printed Lord Bates question first answered 02/11/2017 16:35:11 answering member 1091 label Biography information for Lord Bates
tabling member	4284 label Biography information for Baroness Neville-Rolfe

772966

registered interest
date	18/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Economic Surveys
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they made of the content of the OECD Economic Survey of the United Kingdom 2017 before agreeing to the same report being launched in the buildings of HM Treasury.
tabling member printed	Lord Blencathra
uin	HL2167
answer	answer is ministerial correction date of answer 30/10/2017 answer text <p>The Organisation for Economic Cooperation and Development is an independent international organisation, and its Economic Survey of the United Kingdom 2017 represents its own views. The government welcomes regular surveillance of the UK economy by international institutions as a source of external challenge and scrutiny.</p> answering member printed Lord Bates question first answered 30/10/2017 16:27:26 answering member 1091 label Biography information for Lord Bates
tabling member	497 label Biography information for Lord Blencathra

772967

registered interest
date	18/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Brexit
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 accuracy of predictions made by the OECD, in the light of the statement made by OECD Director General, Jose Angel Gurria on 27 April 2016, which suggested that a UK exit from the EU would immediately hit confidence and would result in UK GDP being reduced by 3 per cent by 2020.
tabling member printed	Lord Blencathra
uin	HL2168
answer	answer is ministerial correction date of answer 30/10/2017 answer text <p>The government has not made an assessment of the accuracy of the Organisation for Economic Cooperation and Development’s (OECD) predictions. The OECD is an independent international organisation, and its analysis of the UK economy represents its own views.</p><p> </p> answering member printed Lord Bates question first answered 30/10/2017 16:21:31 answering member 1091 label Biography information for Lord Bates
tabling member	497 label Biography information for Lord Blencathra

773011

registered interest
date	18/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Taxis: VAT
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether (1) taxis, (2) private hire cars, (3) Uber drivers, and (4) other types of taxi and private hire vehicle, are subject to VAT; and, if not, why not.
tabling member printed	Lord Laird
uin	HL2212
answer	answer is ministerial correction date of answer 01/11/2017 answer text <p>Any taxi, private hire car, self-employed driver (including Uber drivers) or any other type of taxi or private hire vehicle where the annual taxable turnover exceeds £85,000 must register and charge VAT on their supplies.</p><p> </p> answering member printed Lord Bates question first answered 01/11/2017 12:49:38 answering member 1091 label Biography information for Lord Bates
tabling member	2479 label Biography information for Lord Laird