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886920

registered interest
date	18/04/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Enterprise Management Incentives
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether they intend to apply for an extension of the EU State Aid Exemption for the Enterprise Management Incentives scheme which expired on 6 April.
tabling member printed	Lord Stevenson of Balmacara
uin	HL7076
answer	answer is ministerial correction date of answer 30/04/2018 answer text <p>The Government began the process of renewing the State Aid approval for the Enterprise Management Incentive (EMI) scheme early last year. The European Commission are considering the application.</p><p>A further update will be provided in due course.</p> answering member printed Lord Bates question first answered 30/04/2018 11:52:25 answering member 1091 label Biography information for Lord Bates
tabling member	4175 label Biography information for Lord Stevenson of Balmacara

885885

registered interest
date	17/04/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Overseas Trade
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 29 March (HL6581), whether the US Department of the Treasury has indicated in recent meetings with Her Majesty's Government any change to its opposition to including financial services in trade negotiations, as identified by the EU Committee in its report The Transatlantic Trade and Investment Partnership, published on 13 May 2014 (14th Report, Session 2013–14, HL Paper 179).
tabling member printed	Lord Jopling
uin	HL6983
answer	answer is ministerial correction date of answer 30/04/2018 answer text <p>Her Majesty’s Treasury and the US Department of the Treasury have ongoing discussions on a range of financial services issues, including ensuring continuity when the UK leaves the EU. As the UK is currently an EU Member State, trade negotiations are the exclusive competence of the EU Commission and the UK is bound by the duty of sincere cooperation. During the implementation period, the UK will be able to forge its own way by negotiating, ratifying and signing with new partners across the world. We will only bring new arrangements into force after the conclusion of the implementation period.</p> answering member printed Lord Bates question first answered 30/04/2018 11:48:41 answering member 1091 label Biography information for Lord Bates
tabling member	883 label Biography information for Lord Jopling

884182

registered interest
date	16/04/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Duchy of Cornwall: VAT
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether the Duchy of Cornwall is subject to rules relating to Value Added Tax (VAT) on the same basis as other bodies; if so, whether the Duchy is registered for VAT; and how much VAT was charged by the Duchy in each of the last two financial years.
tabling member printed	Lord Berkeley
uin	HL6867
answer	answer is ministerial correction date of answer 30/04/2018 answer text <p>The Duchy of Cornwall is subject to VAT on the same basis as other bodies.</p><p> </p><p>In response to the second and third parts of the question, HM Revenue and Customs ensures that everyone pays the tax they owe under the law. They cannot comment on the detailed affairs of individual taxpayers.</p> answering member printed Lord Bates question first answered 30/04/2018 11:42:27 answering member 1091 label Biography information for Lord Bates
tabling member	3526 label Biography information for Lord Berkeley

874356

registered interest
date	28/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Low Pay
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what is their estimate of the number of (1) employees, and (2) other workers, in the UK who earn less than the personal tax threshold in any one job; and of those, how many are (a) male, and (b) female.
tabling member printed	Baroness Altmann
uin	HL6742
answer	answer is ministerial correction date of answer 09/04/2018 answer text <p>Estimates of the number of individuals with earnings less than the Income Tax Personal Allowance in any one job are shown in the table below. The table relates to the 2015-16 tax year when the Personal Allowance was £10,600.</p><p> </p><p>The figures are for people employed and taxed through Pay As You Earn Income Tax and with self-employment income taxed through Self Assessment. Individuals included in the table may have had more than one job in the year where they earnt below the Personal Allowance. The figures also include individuals with an income above £10,600 in one job, but who also had at least one job with PAYE or self-employment earnings below £10,600 in 2015-16.</p><p> </p><p> </p><table><tbody><tr><td colspan="3"><p>Individuals with earnings less than the Income Tax Personal Allowance in any one job, 2015-16 tax year (millions)</p></td></tr><tr><td><p> </p></td><td><p>Employees <sup>(1)</sup></p></td><td><p>Self employed <sup>(2)(3)</sup></p></td></tr><tr><td><p>Male</p></td><td><p><del class="ministerial">8.34</del><ins class="ministerial">6.83</ins></p></td><td><p>2.11</p></td></tr><tr><td><p>Female</p></td><td><p><del class="ministerial">6.83</del><ins class="ministerial">8.34</ins></p></td><td><p>1.55</p></td></tr><tr><td><p>All</p></td><td><p>15.17</p></td><td><p>3.66</p></td></tr></tbody></table><p> </p><p>Notes</p><ol><li><p>Based on Pay As You Earn data. The earnings definition used is the same as used in the publication, <em>UK Real Time Information, Experimental Statistics</em>.</p></li><li><p>The figures for self-employment income sources are based on the 2015-16 Survey of Personal</p><p>Incomes and consistent with information published in tables 3.9 and 3.10 of HMRC’s Personal Incomes statistics, tables 3.1 to 3.11.</p></li><li><p>Includes those who were trading but made a loss for the tax year.</p></li></ol><p> </p><p> </p> answering member printed Lord Bates question first answered 09/04/2018 13:27:34 question first ministerially corrected 28/06/2018 16:24:54 answering member 1091 label Biography information for Lord Bates previous answer version 51495 answering member printed Lord Bates answering member 1091 label Biography information for Lord Bates
tabling member	4533 label Biography information for Baroness Altmann

873046

registered interest
date	27/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Technology
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to ensure that the UK continues to be a global leader in the financial technology sector; and how they are attracting new firms to that sector.
tabling member printed	Lord Taylor of Warwick
uin	HL6725
answer	answer is ministerial correction date of answer 06/04/2018 answer text <p>The government is taking significant steps to ensure that the UK continues to be a global leader in financial technology.</p><p> </p><p>For example, Open Banking, launched in January through a managed roll-out, is a radical intervention, driven by government, that will allow consumers and SMEs to access a range of new and innovative products that better meet their needs by providing third party providers with secure access to their current accounts. Open Banking uses standardised Application Programming Interfaces (APIs), making it easier and cheaper for Fintech firms to deploy their products.</p><p> </p><p>The government has also recently launched a Fintech Sector Strategy, setting out the action the government has taken to make the UK the best place to grow a Fintech business, and further interventions in partnership with the regulators and industry to help maintain this position. For instance, the Strategy includes pilot schemes to help new fintech firms (and the financial services industry more widely) comply with regulations by building software which would automatically ensure they follow the rules, saving them time and money, and the creation of a set of industry standards which will enable fintech firms to more easily partner with existing banks.</p><p> </p> answering member printed Lord Bates question first answered 06/04/2018 11:42:37 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

872470

registered interest
date	26/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Tax Credit
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 19 February (HL5370), where they have published the outcome of the application of the Family Test; and if it has not been published, when it will be.
tabling member printed	Baroness Lister of Burtersett
uin	HL6647
answer	answer is ministerial correction date of answer 29/03/2018 answer text <p>The Government is committed to ensuring that the potential impacts on families of all policies are carefully taken into account as part of the policymaking process. The objective of the Family Test is to introduce an explicit family perspective to the policy making process, and ensure that potential impacts on family relationships and functioning are made explicit and recognised in the process of developing new policy.</p><p>While Family Test assessments are not routinely published by the Government, an impact assessment of Limiting Support to Two Children in Tax Credits/Universal Credit is available on the parliament website.</p><p> </p><p> </p> answering member printed Lord Bates question first answered 29/03/2018 15:06:14 answering member 1091 label Biography information for Lord Bates
tabling member	4234 label Biography information for Baroness Lister of Burtersett

870271

registered interest
date	23/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit
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 support, promote and increase the ethical personal lending market as an alternative to high-cost credit providers.
tabling member printed	Lord Bird
uin	HL6605
answer	answer is ministerial correction date of answer 29/03/2018 answer text The government is committed to delivering a well-functioning and sustainable consumer credit market which is able to meet the needs of all consumers.<p> </p>In March, the government hosted the first meeting of the Financial Inclusion Policy Forum, a new key initiative bringing together government, regulators, industry and the third sector to coordinate action and provide leadership in tackling these challenges. The Forum’s mission is to ensure that individuals, regardless of their background or income, have access to useful and affordable financial products and services, including affordable credit.<p> </p><p>The government also supports credit unions, which provide an affordable alternative to high-cost credit. In the Autumn Budget 2017, the government announced its intention to help the sector expand by increasing the number of potential members of credit unions from two million to three million. In addition, from this year a greater proportion of funds recovered from illegal money lenders will be allocated to incentivise vulnerable people to join, save, and borrow with a credit union instead of turning to loan sharks.</p> answering member printed Lord Bates question first answered 29/03/2018 14:42:59 answering member 1091 label Biography information for Lord Bates
tabling member	4564 label Biography information for Lord Bird

870281

registered interest
date	23/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Trade Barriers
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how they intend to protect the economy from the effects of any trade war, following the UK's withdrawal from the EU.
tabling member printed	Viscount Waverley
uin	HL6615
answer	answer is ministerial correction date of answer 29/03/2018 answer text <p>The UK is a global advocate for free trade and continues to work with global partners and as part of multilateral discussions at the WTO to tackle protectionism and protectionist measures.</p><p> </p><p>When the UK leaves the EU, we will play a full part in promoting compliance with the rules-based trading system and, if necessary, make use of the WTO’s dispute resolution procedures in defence of our national interests.</p><p> </p><p>As part of preparations for the UK’s exit from the EU, we are also committed to creating a trade remedies framework which is able to react efficiently and effectively to tackle unfair trade where necessary.</p> answering member printed Lord Bates question first answered 29/03/2018 14:57:07 answering member 1091 label Biography information for Lord Bates
tabling member	1744 label Biography information for Viscount Waverley

869576

registered interest
date	22/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: UK Trade with EU
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what lessons they have learned from the Transatlantic Trade and Investment Partnership negotiations between the EU and the United States with regard to the United States Treasury's difficulties over freeing up barriers in the financial services sector.
tabling member printed	Lord Jopling
uin	HL6581
answer	answer is ministerial correction date of answer 29/03/2018 answer text <p>The European Commission has exclusive competence for common commercial policy and negotiates external trade policy, including on financial services, on behalf of Member States. While the European Commission and the United States discussed financial services in the Transatlantic Trade and Investment Partnership (TTIP) negotiations, the experience of those negotiations is specific to the trading partners concerned and the position of the United States at that time.</p><p> </p><p>The EU proposed to use TTIP to establish greater regulatory cooperation and support a clearer basis for market access for financial services. In the context of the UK-EU negotiations, the Chancellor of the Exchequer set out in his speech at Canary Wharf that the UK is willing to negotiate with the EU on financial services and the parameters of a future relationship building on a range of precedents including the EU’s ambition in TTIP talks.</p> answering member printed Lord Bates question first answered 29/03/2018 14:56:17 answering member 1091 label Biography information for Lord Bates
tabling member	883 label Biography information for Lord Jopling

868233

registered interest
date	20/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Contributions: Older People
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how much revenue they estimate would be raised if a national insurance charge of one per cent were applied to the employment, pension, savings, and rental income of those over retirement age, assuming the same national insurance allowance as for those below retirement age.
tabling member printed	Lord Macpherson of Earl's Court
uin	HL6505
answer	answer is ministerial correction date of answer 29/03/2018 answer text <p>The revenue raised from increasing Class 1 national insurance rates on employment income by 1% may be approximated using the “Direct effects of illustrative tax changes”<sup>1</sup>.</p><p> </p><p>This shows the yield from a change in the Class 1 employee main rate by 1 percentage point and the Class 1 employee additional rate by 1 percent point in 2018-19 through to 2020-21.</p><p><strong> </strong></p><table><tbody><tr><td><p><strong>(£m)</strong></p></td><td><p><strong>2018-19</strong></p></td><td><p><strong>2019-20</strong></p></td><td><p><strong>2020-21</strong></p></td></tr><tr><td><p><strong>Change Class 1 employee main rate by 1 percent point</strong></p></td><td><p>4050</p></td><td><p>4200</p></td><td><p>4300</p></td></tr><tr><td><p><strong>Change Class 1 employee additional rate by 1 percent point</strong></p></td><td><p>890</p></td><td><p>910</p></td><td><p>940</p></td></tr></tbody></table><ol><li><strong>Extract of the table as published at the following address: </strong><a href="https://www.gov.uk/government/statistics/direct-effects-of-illustrative-tax-changes" target="_blank">https://www.gov.uk/government/statistics/direct-effects-of-illustrative-tax-changes</a></li></ol><p><strong> </strong></p>An estimate of the impact of introducing a NICs charge for those over state pension age or a surcharge for those below state pension age on rental, savings, and pensions income is not available. National Insurance is not currently payable on these income streams and therefore a number of policy design decisions would need to be taken in order to estimate how much would be raised from introducing such a charge. answering member printed Lord Bates question first answered 29/03/2018 16:01:14 answering member 1091 label Biography information for Lord Bates
tabling member	4586 label Biography information for Lord Macpherson of Earl's Court