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100042

registered interest
date	21/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	EU Budget
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will make representations within the European Union that any spending increases will be met through countervailing spending cuts and not by increasing the financial contributions of member states.
tabling member printed	Lord Stoddart of Swindon
uin	HL2248
answer	answer is ministerial correction date of answer 04/11/2014 answer text <p>The UK has been consistently clear: at a time when governments across the EU are taking difficult decisions to manage their deficits, the European Commission should not be asking Governments across the EU for more money.</p><p> </p><p>The UK strongly believes in limiting the size of the EU budget and will continue to press for necessary restraint and discipline in order to get the best deal for British taxpayers.</p><p> </p> answering member printed Lord Deighton question first answered 04/11/2014 16:56:36 answering member 4262 label Biography information for Lord Deighton
tabling member	950 label Biography information for Lord Stoddart of Swindon

100015

registered interest
date	20/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Trade with EU
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether, in the light of the risk of the Eurozone returning to recession and the statement by the Chancellor of Exchequer that Britain could not be immune from any such event, they plan to encourage industry and commerce to diversify their markets and reduce their reliance on the European Union market.
tabling member printed	Lord Stoddart of Swindon
uin	HL2230
answer	answer is ministerial correction date of answer 03/11/2014 answer text <p>We have to recognise that the UK is not immune to problems elsewhere in the world. The UK has one of the most open economies in the world through trade and financial channels. In particular, growth in the euro area – our largest trading partner – is weak and we have to expect that to dampen our own recovery.</p><p> </p><p> </p><p> </p><p>Since entering office, this Government has worked consistently towards a rebalancing of the UK economy and growing our trade with all parts of the world, including key emerging markets. Since 2010, for example, UKTI has increased the number of its overseas-based staff working outside the EU from 875 to 1060, reflecting the growing priority being given to non-EU markets; and, excluding aircraft, nearly all of the exports supported by UK Export Finance in recent years have been to markets outside the EU. Ministers continue to take an active role, including through the Chancellor-led annual Economic and Financial Dialogues with India and China, the most recent of which secured £2.4 billion in bilateral investment deals.</p><p> </p> answering member printed Lord Deighton question first answered 03/11/2014 17:17:00 answering member 4262 label Biography information for Lord Deighton
tabling member	950 label Biography information for Lord Stoddart of Swindon

93704

registered interest
date	15/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	North Sea Oil
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is the total revenue they have received from the extraction and exploration of North Sea oil.
tabling member printed	Lord Hodgson of Astley Abbotts
uin	HL2133
answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>Government revenues from UK oil and gas production for all years to 2013-14 are published by HM Revenue &amp; Customs (HMRC) as National Statistics on the GOV.UK website[1]. Total revenues can be found in Table 11.11 from the <em>Statistics of Government revenues from UK oil and gas production</em> publication[2].</p><p> </p><p> </p><p> </p><p>The values in Table 11.11 are detailed in current prices, so for previous years they do not reflect the value of total revenue today. The total revenue received from the extraction and exploration of North Sea oil is £187.8 billion in current prices.</p><p> </p><p> </p><p>[1] https://www.gov.uk/government/collections/petroleum-revenue-tax-prt-and-government-revenues-from-uk-oil-and-gas-production</p><p>[2] <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/306225/140424_Table_11_11.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/306225/140424_Table_11_11.pdf</a></p><p> </p> answering member printed Lord Deighton question first answered 29/10/2014 15:24:02 answering member 4262 label Biography information for Lord Deighton attachment 1 file name t11.11 gov revenue.docx title Government revenues from oil and gas production
tabling member	1651 label Biography information for Lord Hodgson of Astley Abbotts

93406

registered interest
date	14/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Currencies
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what work is being undertaken by HM Treasury in respect of bitcoin and other digital currencies in the context of the speech by the Chancellor of the Exchequer on 6 August; and what consultation has taken place with the UK Digital Currency Association, as the representative body of those United Kingdom businesses engaged with digital currency.
tabling member printed	Lord Harris of Haringey
uin	HL2072
answer	answer is ministerial correction date of answer 27/10/2014 answer text <p>On 6 August, the Chancellor announced a major programme of work looking into digital currencies and associated technologies, with a particular focus on whether they should be regulated. The Government is now considering the benefits offered by digital currencies and the technology that underpins them, and whether it should take action to support innovation in this area. At the same time, the Government is examining the risks presented by digital currencies, and assessing whether action is required to mitigate any concerns. The Government is engaging with a wide range of stakeholders, including the UK Digital Currency Association, as part of this work.</p><p> </p> answering member printed Lord Deighton question first answered 27/10/2014 12:43:05 answering member 4262 label Biography information for Lord Deighton
tabling member	2671 label Biography information for Lord Harris of Haringey

93430

registered interest
date	14/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Workplace Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what estimate they have made of how many individuals in defined contribution funded public sector pension schemes will withdraw their entire accrued entitlements under the new Freedom and Choice for Pensioner arrangements in the first year from April 2015, and at what cost.
tabling member printed	Lord Laird
uin	HL2096
answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2097 HL2098 HL2099 question first answered 29/10/2014 15:20:53 answering member 4262 label Biography information for Lord Deighton
tabling member	2479 label Biography information for Lord Laird

93431

registered interest
date	14/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Workplace Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they consider that delaying transfer payments and reducing transfer values are sufficient safeguards to stabilise public sector funded pension schemes threatened by large-scale withdrawals under the new Freedom and Choice for Pensioners arrangements.
tabling member printed	Lord Laird
uin	HL2097
answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2096 HL2098 HL2099 question first answered 29/10/2014 15:20:53 answering member 4262 label Biography information for Lord Deighton
tabling member	2479 label Biography information for Lord Laird

93432

registered interest
date	14/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Workplace Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether, under their proposed entire pension withdrawal arrangements, they will include in the legislation a power to suspend the concession for such schemes in the event of serious destabilisation of funded public service pension schemes or extreme cost to the Exchequer.
tabling member printed	Lord Laird
uin	HL2098
answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2096 HL2097 HL2099 question first answered 29/10/2014 15:20:54 answering member 4262 label Biography information for Lord Deighton
tabling member	2479 label Biography information for Lord Laird

93433

registered interest
date	14/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Workplace Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is the key difference between trust-based and contract-based public sector defined contribution schemes in relation to the proposed pension withdrawal arrangements; and what was the result of their consultation with the Local Government Pension Scheme on extra safeguards for such trust-based schemes.
tabling member printed	Lord Laird
uin	HL2099
answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2096 HL2097 HL2098 question first answered 29/10/2014 15:20:54 answering member 4262 label Biography information for Lord Deighton
tabling member	2479 label Biography information for Lord Laird

93434

registered interest
date	14/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether and how the new Freedom and Choice for Pensioners arrangements will apply to Northern Ireland; and whether they have discussed the matter of a legislative consent motion with the Northern Ireland Executive.
tabling member printed	Lord Laird
uin	HL2100
answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The tax changes necessary to deliver the Freedom and Choice in Pensions agenda are contained in the Taxation of Pensions Bill. The provisions in this Bill will apply across the UK as the relevant tax legislation is not, in the main, a matter over which powers have been devolved.<sup>[</sup><sup>1]</sup> The Pension Schemes Bill is being used to introduce further changes relevant to the Freedom and Choice agenda. Where these do relate to devolved matters in Northern Ireland, the Government is in the process of obtaining the necessary legislative consent motion and approval from the Northern Ireland Assembly.</p><p> </p><p> </p><p>[1] Explanatory notes for the Taxation of Pensions Bill were published on the Parliament Website. Territorial extent is detailed in paragraph 52 http://www.publications.parliament.uk/pa/bills/cbill/2014-2015/0097/en/15097en.htm</p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 29/10/2014 15:21:46 answering member 4262 label Biography information for Lord Deighton
tabling member	2479 label Biography information for Lord Laird

92802

registered interest
date	13/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Expenditure: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will publish the conditions that apply to the access to the DEL Reserve of up to £100 million by the Northern Ireland Executive.
tabling member printed	Lord Empey
uin	HL2038
answer	answer is ministerial correction date of answer 27/10/2014 answer text <p>The NI Executive is expected to manage emerging pressures by identifying savings and reallocating resources within its overall allocations set by the Treasury. The First Minister has made it clear that he believes this is no longer achievable in 2014/15. The Treasury has therefore agreed that exceptional access to the DEL Reserve of up to £100 million will be permitted in-year.</p><p> </p><p> </p><p> </p><p>An amount equivalent to the access to the DEL Reserve taken up by the Northern Ireland Executive will be reflected in the relevant control total at Supplementary Estimates and will subsequently be deducted from the Northern Ireland Executive’s 2015/16 control total.</p><p> </p><p> </p><p> </p><p>Internal Northern Ireland departmental allocations remain a matter for the Executive itself.</p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Deighton grouped question UIN HL2039 HL2040 HL2041 question first answered 27/10/2014 15:11:15 answering member 4262 label Biography information for Lord Deighton
tabling member	4216 label Biography information for Lord Empey