Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1130240

registered interest
date	05/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Soft Drinks: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is the current annual revenue from the Soft Drinks Industry Levy.
tabling member printed	Baroness Lister of Burtersett
uin	HL16101
answer	answer is ministerial correction date of answer 17/06/2019 answer text <p>Receipts from the Soft Drinks Industry Levy were £240m in 2018/19.</p> answering member printed Lord Young of Cookham question first answered 17/06/2019 13:45:27 answering member 57 label Biography information for Lord Young of Cookham
tabling member	4234 label Biography information for Baroness Lister of Burtersett

1129548

registered interest
date	04/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government why 12 months have been allowed for the completion of Dame Elizabeth Gloster's inquiry into the circumstances surrounding the collapse of investment firm London Capital & Finance and the Financial Conduct Authority’s supervision of the firm.
tabling member printed	Lord Myners
uin	HL16033
answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it. The investigation will look at the events and circumstances surrounding the failure of LCF and whether, in its supervision of LCF, the FCA discharged its functions in a manner which enabled it to effectively fulfil its statutory objectives. Dame Elizabeth will be able to consider any other matters she deems relevant to the events set out in the Treasury’s direction to the FCA.</p><p> </p><p>Dame Elizabeth is an experienced barrister, leading QC and Judge at the High Court and Court of Appeal. The Treasury is satisfied that she will be able to lead a robust and independent investigation.</p><p> </p><p>The Treasury has stipulated that the investigation should be completed within 12 months, whilst allowing the investigator to report sooner than 12 months if this is feasible. This will ensure that the investigation is as thorough as possible and that the right lessons are learned to better protect those who invest their money in the future.</p> answering member printed Lord Young of Cookham grouped question UIN HL16034 HL16035 question first answered 18/06/2019 15:18:13 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

1129549

registered interest
date	04/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Barlow Clowes: 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 role Dame Elizabeth Gloster played as counsel in cases arising out of (1) the insolvency of Barlow Clowes, and (2) the payment of compensation to investors in that firm's funds.
tabling member printed	Lord Myners
uin	HL16034
answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it. The investigation will look at the events and circumstances surrounding the failure of LCF and whether, in its supervision of LCF, the FCA discharged its functions in a manner which enabled it to effectively fulfil its statutory objectives. Dame Elizabeth will be able to consider any other matters she deems relevant to the events set out in the Treasury’s direction to the FCA.</p><p> </p><p>Dame Elizabeth is an experienced barrister, leading QC and Judge at the High Court and Court of Appeal. The Treasury is satisfied that she will be able to lead a robust and independent investigation.</p><p> </p><p>The Treasury has stipulated that the investigation should be completed within 12 months, whilst allowing the investigator to report sooner than 12 months if this is feasible. This will ensure that the investigation is as thorough as possible and that the right lessons are learned to better protect those who invest their money in the future.</p> answering member printed Lord Young of Cookham grouped question UIN HL16033 HL16035 question first answered 18/06/2019 15:18:13 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

1129550

registered interest
date	04/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government why the terms of reference for Dame Elizabeth Gloster's inquiry into the circumstances surrounding the collapse of investment firm London Capital & Finance and the Financial Conduct Authority’s supervision of the firm do not include the impact on affected savers.
tabling member printed	Lord Myners
uin	HL16035
answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>On 23 May, the Treasury formally directed the Financial Conduct Authority (FCA) to launch an independent investigation into the events at London Capital &amp; Finance (LCF), and approved the FCA’s appointment of Dame Elizabeth Gloster to lead it. The investigation will look at the events and circumstances surrounding the failure of LCF and whether, in its supervision of LCF, the FCA discharged its functions in a manner which enabled it to effectively fulfil its statutory objectives. Dame Elizabeth will be able to consider any other matters she deems relevant to the events set out in the Treasury’s direction to the FCA.</p><p> </p><p>Dame Elizabeth is an experienced barrister, leading QC and Judge at the High Court and Court of Appeal. The Treasury is satisfied that she will be able to lead a robust and independent investigation.</p><p> </p><p>The Treasury has stipulated that the investigation should be completed within 12 months, whilst allowing the investigator to report sooner than 12 months if this is feasible. This will ensure that the investigation is as thorough as possible and that the right lessons are learned to better protect those who invest their money in the future.</p> answering member printed Lord Young of Cookham grouped question UIN HL16033 HL16034 question first answered 18/06/2019 15:18:13 answering member 57 label Biography information for Lord Young of Cookham
tabling member	3869 label Biography information for Lord Myners

1129572

registered interest
date	04/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Internet
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to remain closely aligned to any new EU security regulations for online banking transactions after Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL16057
answer	answer is ministerial correction date of answer 18/06/2019 answer text <p>The Strong Customer Authentication Regulatory Technical Standards (“the SCA RTS”), which are intended to reduce fraud and increase payments security, came into force on 14 March 2018 in EU law. The majority of its provisions will apply from 14 September 2019, and will apply in full in the UK.</p><p> </p><p>The EU (Withdrawal) Act (“the Act”) will bring into UK law all directly applicated EU regulations which are operative at exit day, as defined by the Act, or at the end of the proposed Implementation Period if the withdrawal agreement reached between the Government and the EU is ratified. This includes operative Regulatory Technical Standards (RTS). The Act also permits ministers to make amendments which correct deficiencies in these regulations, if that is necessary to ensure they operate effectively in the UK.</p><p>The Financial Regulators’ Powers (Technical Standards etc.) (Amendment etc.) (EU Exit) Regulations 2018, made under the Act, delegated responsibility for fixing deficiencies in the SCA RTS to the FCA. Under the Electronic Money, Payment Services and Payment Systems (Amendment and Transitional Provisions) (EU Exit) Regulations 2018, the FCA is also the competent authority for the SCA RTS after EU Exit.</p><p> </p><p>The FCA consulted on its approach to the SCA RTS after the UK has left the EU (see CP18/44, published on 19 December 2018). It proposes to substantially maintain these technical standards in UK law, to support consumer protection and to provide firms with certainty and clarity about the systems they have been building.</p> answering member printed Lord Young of Cookham question first answered 18/06/2019 15:19:22 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1129583

registered interest
date	04/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Proof of Identity
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether all existing banking customers must provide proof of identification to banks to check for possible money laundering; if so, under which regulations this policy was brought in; whether an impact assessment was carried out on the costs to customers, particularly those in rural areas, of any such requirements; and what estimate they have made of the total cost of any such policy.
tabling member printed	Lord Vinson
uin	HL16068
answer	answer is ministerial correction date of answer 18/06/2019 answer text The Money Laundering Regulations 2017 (‘the Regulations’) do not require banks to carry out customer due diligence – including identity checks—on all existing customers. The Regulations instead require banks to take a proportionate approach to applying customer due diligence checks commensurate with the risk of money laundering. The legal requirements on banks to carry out customer diligence for existing customers are set out in Regulations 27(8)(9) and 29(7). The Joint Money Laundering Steering Group’s guidance provides further detail on applying these requirements.<p> </p><p>The impact assessment for the transposition of the 4th EU Money Laundering Directive (which led to the most recent revision of the regulations) estimates the total cost of the changes made, while concluding that industry has difficulty in identifying costs caused by the money laundering regulations. This is particularly the case for customer due diligence as many of these are costs that a prudent business would take on in any case as a matter of commercial practice, to comply with UN or EU sanctions, or to protect themselves and their customers from fraud. The full impact assessment is available on gov.uk.</p> answering member printed Lord Young of Cookham question first answered 18/06/2019 15:20:03 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1807 label Biography information for Lord Vinson

1128071

registered interest
date	22/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Contributions: Pensioners
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they have made an estimate of the revenue which could be raised if the exemption from employee and employer's national insurance contributions for people above pensionable age was removed; and if so, what is that estimate.
tabling member printed	Lord Forsyth of Drumlean
uin	HL15920
answer	answer is ministerial correction date of answer 06/06/2019 answer text <p>The “Estimated costs of principal tax reliefs” publication, sets out an estimate of the cost of the exemption of those over State pension age from paying National Insurance. It is estimated that the cost of this exemption is approximately £1.1bn in 2018-19. The estimates do not allow for any behavioural changes as a result of the reliefs. In practice if a relief was withdrawn, taxpayers’ behaviour would be likely to alter so that the actual yield could be lower than that shown in the tables.</p><p> </p><p>Employers are not currently exempt from paying employer NICs for their employees above the state pension age.</p> answering member printed Lord Young of Cookham question first answered 06/06/2019 12:50:41 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1141 label Biography information for Lord Forsyth of Drumlean

1128085

registered interest
date	22/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Hacking
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 advice of the government of Sweden to its citizens to keep cash on hand against the possibility of a hacking attack on the banking system; and whether they are considering giving similar advice to UK citizens.
tabling member printed	Lord Radice
uin	HL15934
answer	answer is ministerial correction date of answer 06/06/2019 answer text <p>The Government has not provided similar advice to UK citizens. HM Treasury works closely with the other Financial Authorities, Intelligence Agencies and Law Enforcement to ensure that the system is robust to a wide range of operational risks, including cyber. The Financial Authorities have well-established mechanisms to respond to operational disruption were it to occur.</p> answering member printed Lord Young of Cookham question first answered 06/06/2019 12:47:25 answering member 57 label Biography information for Lord Young of Cookham
tabling member	510 label Biography information for Lord Radice

1128089

registered interest
date	22/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government, for each of the last 24 months for which data is available, (1) what was the total stock of ATMs and how many of those were free to use; (2) how many free to use ATMs have been closed; (3) how many of those closures were in areas of economic deprivation; and (4) how many were one mile or more from the nearest remaining free to use ATMs.
tabling member printed	Lord Sharkey
uin	HL15938
answer	answer is ministerial correction date of answer 06/06/2019 answer text <p>In 2015, the Government established the Payment Systems Regulator (PSR), with a statutory objective to ensure that the UK’s payment systems work in the interests of their users. As a result, the PSR is closely monitoring developments within ATM provision, and has used its powers to ensure LINK meets its commitment on maintaining the broad geographical spread of free-to-use ATMs.</p><p> </p><p>Data on the total stock of ATMs in the UK and how this has changed each year since 1998, including the split between free-to-use and pay-to-use ATMs, is publicly available on the LINK website. LINK also publish monthly data on their Financial Inclusion Programme, including on the numbers of free-to-use ATMs in deprived areas. In addition, data on the numbers of free-to-use ATMs 1 kilometre or further from the next nearest free-to-use ATM are provided each month in LINK’s publicly available ATM Footprint Report.</p> answering member printed Lord Young of Cookham question first answered 06/06/2019 12:44:20 answering member 57 label Biography information for Lord Young of Cookham
tabling member	4196 label Biography information for Lord Sharkey

1128022

registered interest
date	21/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Markets: Regulation
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 role of (1) the European Securities and Markets Authority, and (2) the Financial Conduct Authority, will have in regulating financial markets after Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL15907
answer	answer is ministerial correction date of answer 04/06/2019 answer text <p>The European Supervisory Authorities - which includes the European Securities and Markets Authority - are a part of the EU’s joint supervisory framework for financial services. The UK’s future position outside of the EU will mean that the UK is no longer part of the joint supervisory framework.</p><p> </p><p>As part of preparations for leaving the EU in any scenario, HM Treasury has delivered a programme of legislation under the EU (Withdrawal) Act designed to ensure that the UK’s regulatory regime is workable. These preparations include transferring certain regulatory and supervisory functions currently carried out by the ESAs to the appropriate UK regulator, including the FCA, where the transfer of those functions is necessary to ensure an operable regulatory regime at exit.</p><p> </p><p>If the UK leaves the EU under the terms of the Withdrawal Agreement reached between the UK and the EU, the UK’s exit preparations would be delayed until the end of the agreed Implementation Period. Market access arrangements would continue and the UK would remain part of the joint supervisory framework, with ESA functions continuing to apply to the UK, until the end of the Implementation Period.</p><p> </p><p>In any exit scenario, we expect UK regulators to continue to work closely with their counterparts in the EU. This is demonstrated in the Political Declaration agreed between the UK and the EU on the future relationship, in which both sides commit to close cooperation on supervisory and regulatory matters.</p> answering member printed Lord Young of Cookham question first answered 04/06/2019 13:50:53 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick