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387731

registered interest
date	06/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services Compensation Scheme
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will explain why they agreed to a European directive tying the United Kingdom's bank deposit protection scheme to the euro-sterling value which has resulted in a £10,000 reduction in the level of protection for United Kingdom depositors from next year; and what action they intend to take to address this anomaly.
tabling member printed	Lord Stoddart of Swindon
uin	HL1108
answer	answer is ministerial correction date of answer 20/07/2015 answer text <p>The Deposit Guarantee Scheme Directive (DGSD) updates existing EU legislation designed to harmonise the level of deposit protection provided across the European Economic Area (EEA).</p><p> </p><p> </p><p> </p><p>This is necessary to ensure that depositors are entitled to the same level of protection wherever they deposit their money, and that UK firms are not competitively disadvantaged in relation to firms in other EEA jurisdictions.</p><p> </p><p> </p><p> </p><p>As a result of the current strength of the pound in relation to the euro, it has been necessary for the Prudential Regulation Authority to review the sterling coverage limit. However, the Government has taken action to ensure that UK depositors are not exposed to a sudden reduction in the level of protection they receive.</p><p> </p><p>HM Treasury has laid a statutory instrument to ensure that depositors who are currently entitled to £85,000 of protection from the Financial Services Compensation Scheme will continue to be until 31 December 2015.</p><p> </p><p> </p><p> </p><p>This will ensure that there is sufficient time available for depositors to be made aware of the changes, and to take such steps as they feel necessary to manage their financial affairs appropriately in light of this change.</p><p> </p><p> </p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 20/07/2015 16:37:43 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	950 label Biography information for Lord Stoddart of Swindon

387743

registered interest
date	06/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Living Wage
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they plan to provide tax incentives to firms and employers paying the living wage to all their workers.
tabling member printed	Lord Hylton
uin	HL1120
answer	answer is ministerial correction date of answer 15/07/2015 answer text <p>The Government wants to move from a low wage, high tax, high welfare society to a higher wage, lower tax, lower welfare society. As the Chancellor announced at the Summer Budget, a new National Living Wage (NLW) will be introduced from April 2016. This will apply to all people over the age of 25, and will directly benefit 2¾ million people.</p><p> </p><p> </p><p> </p><p>At the same time, the government is increasing the employer National Insurance Contributions (NICs) employment allowance from £2000 to £3000. This will reduce the costs of employment for businesses and charities and will mean that a business can employ four people full time on NLW and pay no employer NICs.</p><p> </p><p> </p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 15/07/2015 15:18:04 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	2018 label Biography information for Lord Hylton

387749

registered interest
date	06/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Greece
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what estimate they have made of the cost to the public purse resulting from the economic crisis in Greece.
tabling member printed	The Marquess of Lothian
uin	HL1126
answer	answer is ministerial correction date of answer 20/07/2015 answer text <p>The government has secured a deal that protects UK taxpayers from any risk from financing euro area bailouts now and in the future. This deal gives legal force to the commitment secured in 2010 that UK taxpayers would not be drawn into a euro area bailout. While Greece remains in the euro, its financial stability is the responsibility of the euro area.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 20/07/2015 16:38:41 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	259 label Biography information for The Marquess of Lothian

386899

registered interest
date	01/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	European Central Bank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government how much exposure the European Central Bank has to Greece; and what is the current value of its equity and reserves.
tabling member printed	Lord Forsyth of Drumlean
uin	HL1008
answer	answer is ministerial correction date of answer 15/07/2015 answer text <p>The European Central Bank’s (ECB) exposure to Greece is limited: approximately €27 billion of Greece’s estimated €317 billion debt is owed to the European Central Bank.</p><p> </p><p> </p><p> </p><p>In January 2015, the capital of the ECB coming from the national central banks of all EU Member States (i.e. its equity) amounted to €10.8 billion.</p><p> </p><p> </p><p> </p><p>In May 2015, the ECB’s reserve assets and other foreign currency assets amounted to €68.8 billion Euros.</p><p> </p><p> </p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 15/07/2015 15:16:53 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	1141 label Biography information for Lord Forsyth of Drumlean