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1037598

registered interest
date	08/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how much money has been returned to HM Treasury from Northern Ireland in each of the last three financial years.
tabling member printed	Lord Empey
uin	HL12655
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>Under the Budget Exchange system, the devolved administrations can carry forward unallocated DEL budget from one financial year to the next, within previously agreed limits and with the consent of HM Treasury Ministers.</p><p> </p><p>As set out in the Statement of Funding Policy, a limit of 0.6% applies to Resource DEL underspends and 1.5% to Capital DEL underspends in any year. Any underspends in excess of these limits will be forfeited.</p><p> </p><p>Over the last three financial years, all underspends in non-ringfenced Resource DEL and Capital DEL (excluding Financial Transaction Capital) have been accessed under the Budget Exchange system in the following year, rather than being surrendered to HM Treasury.</p><p> </p><p>Any underspend not accessed under the Budget Exchange Scheme and returned to HM Treasury is either non-cash Resource or Financial Transactions Capital.</p> answering member printed Lord Bates question first answered 21/01/2019 17:25:25 answering member 1091 label Biography information for Lord Bates
tabling member	4216 label Biography information for Lord Empey

1036903

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Investment: Property
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they intend to take to investigate the operation of real estate investment funds, in particular (1) the property valuations used by these funds, (2) whether fund investors and redeemers are treated equally, and (3) the calculation of fund management fees.
tabling member printed	Lord Myners
uin	HL12545
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to Lord Myners by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Lord Bates question first answered 21/01/2019 15:39:18 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

1036904

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Stamp Duty Land Tax
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 Bates on 20 December (HL12311), what impact Stamp Duty Land Tax has had on (1) housing mobility, and (2) the frequency of housing transactions, since 2014.
tabling member printed	Lord Birt
uin	HL12546
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>HMRC publish quarterly and annual statistics on transaction volumes which are available on GOV.UK.</p><p> </p><p>At Autumn Statement 2014 the Government reformed the structure of Stamp Duty Land Tax, cutting the tax paid on all purchases of residential property to a value of £937,500, unless purchasing additional property – a reduction for 98% of those paying the tax.</p><p> </p><p>Housing market activity is affected by a wide variety of factors, of which Stamp Duty Land Tax is just one.</p> answering member printed Lord Bates question first answered 21/01/2019 15:45:48 answering member 1091 label Biography information for Lord Bates
tabling member	2533 label Biography information for Lord Birt

1036905

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Unions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to support and enable the growth of credit unions.
tabling member printed	Lord Myners
uin	HL12547
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>The government remains committed to supporting credit unions, which provide vital services to financially under-served communities and contribute to the diversity of the UK’s financial services sector.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a two-year pilot of a new prize-linked savings scheme offered through credit unions. This will support the credit union sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks.</p><p> </p><p>The Chancellor also announced a new £2 million challenge fund to promote innovative solutions from the UK’s Fintech sector to address challenges faced by social and community lenders, including credit unions. This follows the success of last year’s Rent Recognition Challenge, where UK Fintechs were invited to develop digital solutions for incorporating rental data into credit scores.</p> answering member printed Lord Bates question first answered 21/01/2019 15:38:44 answering member 1091 label Biography information for Lord Bates
tabling member	3869 label Biography information for Lord Myners

1036912

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Brexit
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is their assessment of the current financial cost to the UK of delivering Brexit.
tabling member printed	Lord Roberts of Llandudno
uin	HL12554
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>The precise scale and nature of any benefits and costs to the UK, from the UK’s departure from the European Union, will depend on the UK’s future relationship with the EU.</p><p> </p><p>I am, however, able to provide some detail on how much the government has spent to-date to prepare for all scenarios. In total over £4.2bn has been allocated by the government to departments and devolved administrations to prepare for EU exit since 2015.</p><p> </p><p>This includes allocations of £400m at Autumn Budget 2016 and over £250m from the Reserve in 2017/18. Moreover, Autumn Budget 2017 committed an additional £3bn over 2018/19 and 2019/20. In addition, at Budget 2018, the Chancellor made available an additional £500m for 19/20.</p><p><strong> </strong></p> answering member printed Lord Bates question first answered 21/01/2019 15:49:09 answering member 1091 label Biography information for Lord Bates
tabling member	3691 label Biography information for Lord Roberts of Llandudno

1036959

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Standard of Living
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 Bates on 17 December 2018 (HL11981), what conclusions were reached by HM Treasury, along with other relevant departments, about the equality and cumulative impact of their decisions on those people sharing protected characteristics; and what assessment they have made of how such conclusions compare with those of the Equality and Human Rights Commission in its report The cumulative impact in living standards of public spending changes, published on 28 November, in respect of the effect of public spending changes on lone parents, young adults, severely disabled people and certain ethnic groups since 2010.
tabling member printed	Lord Ouseley
uin	HL12601
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>Equality and fairness continue to be at the heart of this Government’s agenda, and HM Treasury and other departments take their compliance with the Equality Act’s Public Sector Equality Duty seriously when deciding policy. Impact assessments of government policies, including the impact on equalities, are often published by relevant departments. In the interests of transparency, the Treasury and HMRC publish tax information and impact notes (TIINs) for individual tax measures that include, in summary form, assessments of their expected equalities impacts.</p><p>The government does not accept that the EHRC’s report presents an accurate view of the impacts of its policy choices. In its analysis of public spending, the EHRC does not cover the increase in spending in the new multi-year funding plan for NHS England, equating to £20.5bn more per year in real terms by 2023-24 or changes to the UC work allowance announced at Budget 2018.</p> answering member printed Lord Bates question first answered 21/01/2019 15:31:26 answering member 1091 label Biography information for Lord Bates
tabling member	2170 label Biography information for Lord Ouseley

1036960

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
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 analysis conducted by the EY financial services Brexit Tracker, published on 7 January, which states that financial services companies have moved approximately £800 billion of assets to Europe; and what assessment, if any, they have made of the impact of such asset moves on the UK financial services sector post-Brexit.
tabling member printed	Lord Taylor of Warwick
uin	HL12602
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>We remain committed to preserving our competitive position in financial services after the UK has left the European Union.</p><p> </p><p>Firms that are using the EU “passport” to serve clients recognise that further steps to legal certainty remain, and are taking the sensible step of carrying out contingency planning with respect to their operations in the UK and elsewhere in Europe for the event that no deal is reached with the EU.</p><p> </p><p>We have successfully agreed commitments for working towards a future framework with the EU on financial services and both sides intend to take decisions on granting equivalence at least 6 months before the end of the Implementation Period.</p><p> </p>The Government’s long-term economic analysis sets out the impact of the UK’s White Paper position on the financial services sector.<p> </p> answering member printed Lord Bates question first answered 21/01/2019 15:34:11 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1036962

registered interest
date	07/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
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 effects of Brexit uncertainty on exchange rate volatility; and what assessment, if any, they have made of the impact of such volatility on business planning in the UK manufacturing sector.
tabling member printed	Lord Taylor of Warwick
uin	HL12604
answer	answer is ministerial correction date of answer 21/01/2019 answer text <p>Her Majesty’s Government continues to monitor the effects of Brexit uncertainty on exchange rate volatility. Recent financial market movements have been driven by a combination of global events as well as domestic developments.</p><p> </p><p>Overall, uncertainty is a key concern of businesses, including those in the manufacturing sector, as evidenced in recent manufacturing focussed business surveys. Furthermore, the Agent’s survey on EU withdrawal preparation from the Bank of England recorded that around 35% of respondents in manufacturing had already made some change to their business plans since the referendum with a further 25-30% expecting to adjust their business plans by end-March 2019.</p><p> </p><p>Delivering the settlement negotiated with the EU remains our top priority. The Government will continue to take steps to provide businesses with information for a range of scenarios. These include HMRC publishing a ‘Partnership Pack’ to help businesses prepare for changes at the UK border and the publication of 106 technical notices to help businesses prepare for a ‘no deal’ scenario. The Government has also launched a public information campaign to ensure that citizens and businesses are well informed about how Brexit will affect them and the practical steps they will need to take.</p> answering member printed Lord Bates question first answered 21/01/2019 15:41:42 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick