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621123

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	World War I: Debts
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Written Answer by Lord Young of Cookham on 25 October (HL2303), what proportion of the redemptions were made to the US, and when.
tabling member printed	Lord Laird
uin	HL2640
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>The War Bonds referenced in HL2303 were largely held by British citizens, and originally sold by the government as a way to support the war effort. One of these, the 3½ War Loan, was the most widely held gilt, with more than 120,000 holders at the time of redemption, of which 97,000 held less than £1,000 nominal. The Treasury does not hold detailed information on the identity of underlying individuals or organisations who own gilts. In any case, information relating to who may have received payment in respect of the redemption of these gilts is not reflective of who may have originally contributed to the war effort as the bonds have been freely traded in the intervening period. However, I can confirm that £2.3 million was repaid to registered holders with an address in the United States (0.09% of the total amount outstanding at the time of redemption).</p> answering member printed Lord Young of Cookham question first answered 08/11/2016 15:56:41 answering member 57 label Biography information for Lord Young of Cookham
tabling member	2479 label Biography information for Lord Laird

621129

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Exchange Rates
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 of the volatility of sterling on savers, pensioners and other investments generally.
tabling member printed	Baroness McIntosh of Pickering
uin	HL2646
answer	answer is ministerial correction date of answer 03/11/2016 answer text <p>The Government does not have a target for the sterling exchange rate and does not comment on currency movements. Instead the exchange rate is allowed to adjust flexibly in response to economic conditions, and movements in sterling are determined by market forces.</p><p> </p><p>We are going through a period of adjustment as the economy responds to the vote to leave the European Union. The fundamental strength of the UK economy means that it is well-placed to deal with the challenges and take advantage of the opportunities that lie ahead. The Government is working hard to lay the foundations for stable long term growth which will benefit savers, pensioners and all other groups.</p> answering member printed Lord Young of Cookham question first answered 03/11/2016 15:49:10 answering member 57 label Biography information for Lord Young of Cookham
tabling member	384 label Biography information for Baroness McIntosh of Pickering

621140

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is their latest estimate of the effect of the loss of value of the pound sterling on the 2016–17 estimated budget deficit.
tabling member printed	Lord Wigley
uin	HL2657
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>There have been no new estimates for the 2016-17 budget deficit since March 2016. The independent Office for Budget Responsibility will produce an updated forecast for the 2016-17 budget deficit at the Autumn Statement on 23 November. This will take into account the most recent economic data, including changes in exchange rates and their independent judgments.</p><p> </p> answering member printed Lord Young of Cookham question first answered 08/11/2016 15:56:58 answering member 57 label Biography information for Lord Young of Cookham
tabling member	547 label Biography information for Lord Wigley

621160

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what steps they plan to take in response to any impact on retail prices of the UK’s decision to leave the EU.
tabling member printed	Lord Taylor of Warwick
uin	HL2677
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>The independent Monetary Policy Committee (MPC) of the Bank of England has responsibility for monetary policy, and its remit it set by the Government. The MPC’s primary objective is to ensure price stability, which the Government believes to be an essential pre-requisite to longer-term growth and macroeconomic stability.</p><p>The MPC considers the impact of wide range of financial market and economic factors on consumer prices in determining the appropriate setting of monetary policy.</p> answering member printed Lord Young of Cookham question first answered 08/11/2016 16:20:40 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

621163

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Sector Debt
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what steps they are taking to reduce the UK’s national debt.
tabling member printed	Lord Taylor of Warwick
uin	HL2680
answer	answer is ministerial correction date of answer 07/11/2016 answer text <p>The government has already reduced the annual deficit by almost two-thirds from 10.1% of GDP in 2009-10 to 4% of GDP in 2015-16. However, at 84% of GDP last year, Public Sector Net Debt remains too high. The government will set out its plan to ensure long-term fiscal sustainability at Autumn Statement on 23<sup>rd</sup> November.</p> answering member printed Lord Young of Cookham question first answered 07/11/2016 14:22:01 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

621164

registered interest
date	25/10/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Business: Investment
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what steps they plan to take to restore the confidence of large UK companies in investment, in the light of the UK’s decision to leave the EU.
tabling member printed	Lord Taylor of Warwick
uin	HL2681
answer	answer is ministerial correction date of answer 08/11/2016 answer text <p>The Government is determined to make a success of Brexit, and is developing an industrial strategy that will boost productivity and investment. We will continue to monitor the economy as we approach the Autumn Statement.</p><p> </p><p>The Government is speaking regularly to companies from a wide range of sectors to understand their concerns following the referendum, and will continue these conversations as we develop our economic policy.</p><p> </p><p>The fundamentals of the UK economy remain strong, and recent figures show the economy grew by 0.5% in the three months from July, exceeding expectations. The UK is in a position of strength, with a world class science base, the lowest corporation tax in the G20, and plans to invest over £100 billion in infrastructure this Parliament.</p><p> </p><p>Nissan’s recent announcement that the company will continue to invest in the UK is a further vote of confidence in the UK and follows on from announcements of investment from Softbank, GlaxoSmithKline, and others.</p> answering member printed Lord Young of Cookham question first answered 08/11/2016 15:55:01 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick