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58429
star this property registered interest false more like this
star this property date less than 2014-06-05more like thismore than 2014-06-05
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Working Tax Credit: Bolton more like this
unstar this property house id 1 more like this
star this property legislature
25259
unstar this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, how much has been paid through working tax credits to people in Bolton North East constituency in each of the last three years. more like this
star this property tabling member constituency Bolton North East more like this
star this property tabling member printed
Mr David Crausby more like this
star this property uin 199151 more like this
star this property answer
answer
star this property is ministerial correction true more like this
star this property date of answer less than 2014-06-12more like thismore than 2014-06-12
unstar this property answer text <p>Table 1: Bolton North East constituency Working Tax Credit entitlement</p><p> </p><table><tbody><tr><td><p>Tax Year</p></td><td><p>Total WTC entitlement</p></td></tr><tr><td><p>2010-11</p></td><td><p>£19 million</p></td></tr><tr><td><p>2011-12</p></td><td><p>£18 million</p></td></tr><tr><td><p>2012-13</p></td><td><p>£1<del class="ministerial">7</del><ins class="ministerial">6</ins> million</p></td></tr></tbody></table><p> </p><p> </p><p>These figures have been rounded to the nearest £ million.</p> more like this
star this property answering member constituency South West Hertfordshire more like this
star this property answering member printed Mr David Gauke more like this
star this property question first answered
less than 2014-06-12T14:42:34.88Zmore like thismore than 2014-06-12T14:42:34.88Z
star this property question first ministerially corrected
less than 2015-03-24T12:39:34.773Zmore like thismore than 2015-03-24T12:39:34.773Z
star this property answering member
1529
star this property label Biography information for Mr David Gauke more like this
star this property previous answer version
939
star this property answering member constituency South West Hertfordshire more like this
star this property answering member printed Mr David Gauke more like this
star this property answering member
1529
star this property label Biography information for Mr David Gauke more like this
star this property tabling member
437
unstar this property label Biography information for Sir David Crausby more like this
64002
star this property registered interest false more like this
star this property date less than 2014-06-25more like thismore than 2014-06-25
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Welfare Tax Credits: Self-employed more like this
unstar this property house id 1 more like this
star this property legislature
25259
unstar this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, how many self-employed people claimed (a) child tax credits and (b) working tax credits in each of the last 10 years. more like this
star this property tabling member constituency East Ham more like this
star this property tabling member printed
Stephen Timms more like this
star this property uin 202509 more like this
star this property answer
answer
star this property is ministerial correction true more like this
star this property date of answer less than 2014-07-03more like thismore than 2014-07-03
unstar this property answer text <p>The following table is based on finalised tax credits administrative data for each financial year. The latest data available are 2012-13.</p><p> </p><table><tbody><tr><td> </td><td colspan="2"><p><em>Thousands</em></p></td></tr><tr><td><p>Tax Year</p></td><td colspan="2"><p>Number of families in receipt of tax credits containing at least one member identified as self-employed</p></td></tr><tr><td> </td><td><p>Families benefitting from both WTC and CTC</p></td><td><p>Families benefitting from WTC Only</p></td></tr><tr><td><p>2007-08</p></td><td><p>740</p></td><td><p>80</p></td></tr><tr><td><p>2008-09</p></td><td><p>760</p></td><td><p>100</p></td></tr><tr><td><p>2009-10</p></td><td><p>780</p></td><td><p>130</p></td></tr><tr><td><p>2010-11</p></td><td><p>800</p></td><td><p>150</p></td></tr><tr><td><p>2011-12</p></td><td><p>750</p></td><td><p>160</p></td></tr><tr><td><p>2012-13</p></td><td><p>600</p></td><td><p><del class="ministerial">170</del> <ins class="ministerial">169</ins></p></td></tr></tbody></table><p> </p><p>Data from earlier years is only available at disproportionate cost.</p><p> </p><p>The decrease in the number of self employed households in 2012-13 can largely be explained by the removal of the ‘Second Income Threshold’ of tax credits in April 2012. This policy change removed a large number of higher income households from the whole tax credits population.</p><p> </p><p> </p><p>In general, there is and has been a long term trend of growth in the number of self employed people.</p>
star this property answering member constituency South West Hertfordshire more like this
star this property answering member printed Mr David Gauke more like this
star this property question first answered
less than 2014-07-03T15:57:45.697Zmore like thismore than 2014-07-03T15:57:45.697Z
star this property question first ministerially corrected
less than 2015-03-24T11:57:50.163Zmore like thismore than 2015-03-24T11:57:50.163Z
star this property answering member
1529
star this property label Biography information for Mr David Gauke more like this
star this property previous answer version
7782
star this property answering member constituency South West Hertfordshire more like this
star this property answering member printed Mr David Gauke more like this
star this property answering member
1529
star this property label Biography information for Mr David Gauke more like this
star this property tabling member
163
unstar this property label Biography information for Sir Stephen Timms more like this
57913
star this property registered interest false more like this
star this property date less than 2014-06-04more like thismore than 2014-06-04
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Welfare Tax Credits more like this
unstar this property house id 1 more like this
star this property legislature
25259
unstar this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what the value was of the average claim for tax credit made by people who were (a) out of work, (b) self-employed and (c) employed in each of the last five years. more like this
star this property tabling member constituency Leeds West more like this
star this property tabling member printed
Rachel Reeves more like this
star this property uin 198956 more like this
star this property answer
answer
star this property is ministerial correction true more like this
star this property date of answer less than 2014-06-10more like thismore than 2014-06-10
unstar this property answer text <p>The following table is based on finalised tax credits administrative data for each financial year. The latest data available are 2012-13.</p><p> </p><table><tbody><tr><td rowspan="2"><p>Tax Year</p></td><td> </td><td colspan="3"><p>Average tax credit award for households who are classified as 'in work'</p></td></tr><tr><td><p>Average tax credit award for households who are classified as 'out of work'</p></td><td><p>Households who are classified as self employed only</p></td><td><p>Households who are classified as employed only</p></td><td><p>Households who are classified as both employed and self employed</p></td></tr><tr><td><p>2008-09</p></td><td><p>£4,700</p></td><td><p>£6,500</p></td><td><p>£3,300</p></td><td><p>£3,700</p></td></tr><tr><td><p>2009-10</p></td><td><p>£5,000</p></td><td><p>£6,800</p></td><td><p>£3,700</p></td><td><p>£4,000</p></td></tr><tr><td><p>2010-11</p></td><td><p>£5,200</p></td><td><p>£6,900</p></td><td><p>£3,900</p></td><td><p>£4,100</p></td></tr><tr><td><p>2011-12</p></td><td><p>£5,600</p></td><td><p>£7,200</p></td><td><p>£4,500</p></td><td><p>£4,800</p></td></tr><tr><td><p>2012-13</p></td><td><p>£6,000</p></td><td><p>£<del class="ministerial">7,600</del> <ins class="ministerial"><ins>7,500</ins></ins></p></td><td><p>£<del class="ministerial">6,300</del> <ins class="ministerial"><ins>6,200</ins></ins></p></td><td><p>£<del class="ministerial">6,400</del> <ins class="ministerial"><ins>6,000</ins></ins></p></td></tr></tbody></table><p> </p><p>These figures have been rounded to the nearest £100.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p>The increase in average tax credit awards in 2012-13 can largely be explained by the removal of the ‘Second Income Threshold’ in April 2012. This policy removed a number of higher income households from the tax credit population. As higher income households generally have lower tax credits awards, the effect of removing these households increases the average award.</p><p> </p><p> </p>
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property question first answered
less than 2014-06-10T09:38:55.88Zmore like thisremove minimum value filter
star this property question first ministerially corrected
less than 2015-03-24T12:39:18.477Zmore like thismore than 2015-03-24T12:39:18.477Z
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
star this property previous answer version
268
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
star this property tabling member
4031
unstar this property label Biography information for Rachel Reeves more like this
61038
star this property registered interest false more like this
star this property date less than 2014-06-10more like thismore than 2014-06-10
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Welfare Tax Credits more like this
unstar this property house id 1 more like this
star this property legislature
25259
unstar this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what the total value was of tax credits paid to claimants who were (a) out of work, (b) self-employed and (c) employed in each of the last five years. more like this
star this property tabling member constituency Leeds West more like this
star this property tabling member printed
Rachel Reeves more like this
star this property uin 199850 more like this
star this property answer
answer
star this property is ministerial correction true more like this
star this property date of answer less than 2014-06-17more like thismore than 2014-06-17
unstar this property answer text <p><strong>The following table is </strong><strong>based on finalised tax credits administrative data for each financial year. The latest data available are 2012-13. </strong></p><p> </p><table><tbody><tr><td> </td><td> </td><td> </td><td> </td><td><p>£million</p></td></tr><tr><td rowspan="2"><p>Tax Year</p></td><td> </td><td colspan="3"><p>Total entitlement for households who are classified as 'in work'</p></td></tr><tr><td><p>Total entitlement for households who are classified as 'out of work'</p></td><td><p>Households who are classified as self employed only</p></td><td><p>Households who are classified as employed only</p></td><td><p>Households who are classified as both employed and self employed</p></td></tr><tr><td><p>2008-09</p></td><td><p>£6,811</p></td><td><p>£2,376</p></td><td><p>£14,315</p></td><td><p>£1,615</p></td></tr><tr><td><p>2009-10</p></td><td><p>£7,486</p></td><td><p>£2,780</p></td><td><p>£15,260</p></td><td><p>£1,845</p></td></tr><tr><td><p>2010-11</p></td><td><p>£7,606</p></td><td><p>£3,036</p></td><td><p>£15,908</p></td><td><p>£1,992</p></td></tr><tr><td><p>2011-12</p></td><td><p>£8,138</p></td><td><p>£3,327</p></td><td><p>£15,730</p></td><td><p>£2,009</p></td></tr><tr><td><p>2012-13</p></td><td><p>£<del class="ministerial">8,936</del> <ins class="ministerial"><ins>8,903</ins></ins></p></td><td><p>£<del class="ministerial">3,420 </del> <ins class="ministerial"><ins>3,361</ins></ins></p></td><td><p>£<del class="ministerial">15,256</del> <ins class="ministerial"><ins>14,610</ins></ins></p></td><td><p>£<del class="ministerial">2,007</del> <ins class="ministerial"><ins>1,905</ins></ins></p></td></tr></tbody></table><p> </p><p> </p><p><strong>Data from ONS Labour Market statistics show that self employment as a proportion of total UK employment has been growing since around 2003 and is part of a long term trend.</strong></p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p>
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property previous answer version
1685
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
1787
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
star this property question first answered
less than 2014-06-17T15:11:28.337Zmore like thismore than 2014-06-17T15:11:28.337Z
star this property question first ministerially corrected
less than 2015-03-24T12:39:09.403Zmore like thismore than 2015-03-24T12:39:09.403Z
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
star this property tabling member
4031
unstar this property label Biography information for Rachel Reeves more like this
64896
star this property registered interest false more like this
star this property date less than 2014-07-01more like thismore than 2014-07-01
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Welfare Tax Credits more like this
unstar this property house id 1 more like this
star this property legislature
25259
unstar this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what average value of tax credits were paid to claimants who were (a) out of work, (b) self-employed and (c) employed in each of the last 10 years. more like this
star this property tabling member constituency Leeds West more like this
star this property tabling member printed
Rachel Reeves more like this
star this property uin 203325 more like this
star this property answer
answer
star this property is ministerial correction true more like this
star this property date of answer less than 2014-07-07more like thismore than 2014-07-07
unstar this property answer text <p>The following table is based on finalised tax credits administrative data for each financial year. The latest data available are 2012-13.</p><p> </p><table><tbody><tr><td rowspan="2"><p>Tax Year</p></td><td> </td><td colspan="3"><p>Average tax credit award for households who are classified as 'in work'</p></td></tr><tr><td><p>Average tax credit award for households who are classified as 'out of work'</p></td><td><p>Households who are classified as self employed only</p></td><td><p>Households who are classified as employed only</p></td><td><p>Households who are classified as both employed and self employed</p></td></tr><tr><td><p>2007-08</p></td><td><p>£4,300</p></td><td><p>£5,800</p></td><td><p>£2,800</p></td><td><p>£3,300</p></td></tr><tr><td><p>2008-09</p></td><td><p>£4,700</p></td><td><p>£6,500</p></td><td><p>£3,300</p></td><td><p>£3,700</p></td></tr><tr><td><p>2009-10</p></td><td><p>£5,000</p></td><td><p>£6,800</p></td><td><p>£3,700</p></td><td><p>£4,000</p></td></tr><tr><td><p>2010-11</p></td><td><p>£5,200</p></td><td><p>£6,900</p></td><td><p>£3,900</p></td><td><p>£4,100</p></td></tr><tr><td><p>2011-12</p></td><td><p>£5,600</p></td><td><p>£7,200</p></td><td><p>£4,500</p></td><td><p>£4,800</p></td></tr><tr><td><p>2012-13</p></td><td><p>£6,000</p></td><td><p><del class="ministerial">£7,600</del> <ins class="ministerial">£<ins>7,500</ins></ins></p></td><td><p><del class="ministerial">£6,300</del> <ins class="ministerial">£<ins>6,200</ins></ins></p></td><td><p><del class="ministerial">£6,400</del> <ins class="ministerial">£<ins>6,000</ins></ins></p></td></tr></tbody></table><p> </p><p>These figures have been rounded to the nearest £100.</p><p> </p><p>Data from earlier years is only available at disproportionate cost.</p><p> </p><p>The increase in average tax credit awards in 2012-13 can largely be explained by the removal of the ‘Second Income Threshold’ in April 2012. This policy removed a number of higher income households from the tax credit population. As higher income households generally have lower tax credit awards, the effect of removing these households increases the average award.</p><p> </p><p> </p>
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property question first answered
less than 2014-07-07T14:06:19.897Zmore like thismore than 2014-07-07T14:06:19.897Z
star this property question first ministerially corrected
less than 2015-03-24T11:54:34.01Zmore like thismore than 2015-03-24T11:54:34.01Z
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
star this property previous answer version
8139
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
star this property tabling member
4031
unstar this property label Biography information for Rachel Reeves more like this
64577
star this property registered interest false more like this
star this property date less than 2014-06-27more like thismore than 2014-06-27
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Welfare Tax Credits: York more like this
unstar this property house id 1 more like this
star this property legislature
25259
unstar this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, how many families in (a) York Central constituency and (b) York Unitary Authority area received child and working tax credits in 2009 and in each year since. more like this
star this property tabling member constituency York Central more like this
star this property tabling member printed
Hugh Bayley more like this
star this property uin 202934 more like this
star this property answer
answer
star this property is ministerial correction true more like this
star this property date of answer less than 2014-07-02more like thismore than 2014-07-02
unstar this property answer text <p>The finalised annual award Child and Working Tax Credits statistics for 2012-13 are available here:</p><p> </p><p><a href="https://www.gov.uk/government/publications/personal-tax-credits-finalised-award-statistics-geographical-statistics-2012-to-2013" target="_blank">https://www.gov.uk/government/publications/personal-tax-credits-finalised-award-statistics-geographical-statistics-2012-to-2013</a></p><p> </p><p><ins class="ministerial"><ins>Since </ins><ins>the original PQ answer was issued, HM Revenue and Customs</ins><ins> have revised figures for finalised Child and Working Tax Credit Statistics for 2012-13. As such, figures in the referenced publication of interest may </ins><ins>have </ins><ins>be</ins><ins>en</ins><ins> subject to change</ins><ins>.</ins></ins></p><p> </p><p>The finalised annual award Child and Working Tax Credits statistics for 2011-12 are available here:</p><p> </p><p><a href="https://www.gov.uk/government/publications/personal-tax-credits-finalised-award-statistics-geographical-statistics" target="_blank">https://www.gov.uk/government/publications/personal-tax-credits-finalised-award-statistics-geographical-statistics</a></p><p> </p><p>For the years 2009-10 to 2010-11, please refer to the archived publication webpage:</p><p> </p><p><a href="http://webarchive.nationalarchives.gov.uk/20121106034103/http:/www.hmrc.gov.uk/stats/personal-tax-credits/final-award-geog.htm" target="_blank">http://webarchive.nationalarchives.gov.uk/20121106034103/http://www.hmrc.gov.uk/stats/personal-tax-credits/final-award-geog.htm</a></p><p> </p><p>Table 2 of these publications provide a breakdown of figures by local authority, including York.</p><p> </p><p> </p><p>Table 3 of these publications provide a breakdown of figures by parliamentary constituency, including York Central.</p>
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property question first answered
less than 2014-07-02T14:56:46.727Zmore like thismore than 2014-07-02T14:56:46.727Z
star this property question first ministerially corrected
less than 2015-03-24T11:55:28.097Zmore like thismore than 2015-03-24T11:55:28.097Z
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
star this property previous answer version
7633
star this property answering member constituency Loughborough more like this
star this property answering member printed Nicky Morgan more like this
star this property answering member
4027
star this property label Biography information for Baroness Morgan of Cotes more like this
star this property tabling member
385
unstar this property label Biography information for Sir Hugh Bayley more like this
57576
star this property registered interest false more like this
star this property date less than 2014-06-04more like thismore than 2014-06-04
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Pensions: Taxation more like this
unstar this property house id 2 more like this
star this property legislature
25277
unstar this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether lump sum retiring allowances in public sector pension schemes and the equivalent in private pension schemes including annuity payments and pension commencement lump sums are taxable; if so, whether they are taxed in the same way; and what are their proposals for taxing lump sum payments under the new pension arrangements announced in the Queen's Speech. more like this
star this property tabling member printed
Lord Laird more like this
star this property uin HL49 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-06-17more like thismore than 2014-06-17
unstar this property answer text <p>At retirement individuals have the option of taking up to 25 per cent of their pension fund as a tax free pension commencement lump sum.</p><p> </p><p>Individuals at retirement can also take their pension pot as a lump sum:</p><p>· If their total pension pots under all the schemes they belong to are worth £30,000 or less</p><p>· Under certain circumstances, one of their pension pots is worth £10,000 or less</p><p>25 percent would be tax free with the rest being taxed at the individual's marginal rate.</p><p> </p><p>These rules apply to all registered pension schemes and therefore apply to both defined benefit and defined contribution pensions and to both private and public sector schemes.</p><p> </p><p> </p> more like this
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2014-06-17T15:43:30.4071641Zmore like thismore than 2014-06-17T15:43:30.4071641Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
star this property tabling member
2479
unstar this property label Biography information for Lord Laird more like this
57601
star this property registered interest false more like this
star this property date less than 2014-06-04more like thismore than 2014-06-04
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Money Laundering more like this
unstar this property house id 2 more like this
star this property legislature
25277
unstar this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government whether they have issued guidance as to whether members of either House of Parliament are, or should be, considered as Politically Exposed Persons for the purposes of United Kingdom financial regulation; and, if so, what guidance. more like this
star this property tabling member printed
Lord Clement-Jones more like this
star this property uin HL74 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-06-17more like thismore than 2014-06-17
unstar this property answer text <p>The UK's Money Laundering Regulations 2007 define Politically Exposed Persons [PEPs]. UK Members of Parliament are not currently considered PEPs for UK purposes. However, revised global standards require that they are treated as PEPs.</p><p> </p><p>As similar definitions apply in other jurisdictions UK Parliamentarians are likely to be considered as PEPs in other jurisdictions. We are seeking a risk-based approach to the application of this requirement in negotiating the Fourth Money Laundering Directive.</p><p> </p><p> </p><p>Treasury Ministers have approved industry guidance which further confirms that UK Parliamentarians are not PEPs for UK purposes. Some UK banks may apply enhanced due diligence to UK Parliamentarians in accordance with their own risk appetite, and as part of global policies and procedures.</p> more like this
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2014-06-17T15:42:40.438558Zmore like thismore than 2014-06-17T15:42:40.438558Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
star this property tabling member
3396
unstar this property label Biography information for Lord Clement-Jones more like this
58586
star this property registered interest false more like this
star this property date less than 2014-06-05more like thismore than 2014-06-05
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Secured Loans more like this
unstar this property house id 2 more like this
star this property legislature
25277
unstar this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the logbook loans industry. more like this
star this property tabling member printed
Lord Kennedy of Southwark more like this
star this property uin HL111 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-06-17more like thismore than 2014-06-17
unstar this property answer text <p> </p><p>The Government has fundamentally reformed regulation of the consumer credit market, including logbook lenders, by transferring responsibility from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014.</p><p> </p><p>The Government is very concerned about evidence of consumer detriment in the logbook loan sector, as highlighted in the FCA's recent research paper.</p><p> </p><p>The FCA has identified logbook lenders as a higher risk industry, and as such they will be in the first phase of firms to require full authorisation. Logbook loan providers are also required to meet the FCA's binding rules, and the FCA has said that it “won't hesitate to take action” if they do not put their customers first.</p><p> </p><p> </p><p>In addition, the Government has asked the Law Commission to look at how to bring the highly complex legislation underpinning logbook loans up to date.</p> more like this
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2014-06-17T15:40:30.6688772Zmore like thismore than 2014-06-17T15:40:30.6688772Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
star this property tabling member
4153
unstar this property label Biography information for Lord Kennedy of Southwark more like this
60531
star this property registered interest false more like this
star this property date less than 2014-06-09more like thismore than 2014-06-09
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury remove filter
star this property answering dept sort name CaTreasury more like this
star this property hansard heading Infrastructure more like this
unstar this property house id 2 more like this
star this property legislature
25277
unstar this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government how much is being invested in national infrastructure in 2014, and how much planned over the next five years, as a percentage share of gross domestic product; and how that compares with the long-run Organisation for Economic Co-operation and Development average. more like this
star this property tabling member printed
Lord Birt more like this
star this property uin HL120 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-06-19more like thismore than 2014-06-19
unstar this property answer text <p>The Government's measure of total public infrastructure investment is public sector gross investment (PSGI). The Office for Budget Responsibility (OBR) forecast at the March 2014 Budget that this will be 3.0 per cent of gross domestic product (GDP) in 2014-15. Forecasts of government expenditure are generally made on a financial rather than a calendar year basis and are presently only available out to 2018-19.The figures to the end of the forecast period are as set out below:</p><p> </p><table><tbody><tr><td> </td><td><p>2014-15</p></td><td><p>2015-16</p></td><td><p>2016-17</p></td><td><p>2017-18</p></td><td><p>2018-19</p></td></tr><tr><td><p>Public sector gross investment as % of GDP</p></td><td><p>3.0</p></td><td><p>2.9</p></td><td><p>2.9</p></td><td><p>2.8</p></td><td><p>2.8</p></td></tr></tbody></table><p> </p><p>PSGI measures the direct spending on infrastructure projects by the whole public sector, unlike other measures such as net investment which are adjusted to exclude certain elements of spending. Internationally comparable figures for PSGI are not readily available. The UK's fiscal framework is based around the entire public sector, many other countries only use a measure for general government that excludes public corporations so these are often the only comparative measures available. The OBR forecasts include some international comparisons of different investment measures. These can be found at the link below:</p><p> </p><p> </p><p> </p><p> </p><p><a href="http://budgetresponsibility.org.uk/economic-fiscal-outlook-march-2014/" target="_blank">http://budgetresponsibility.org.uk/economic-fiscal-outlook-march-2014/</a></p><p> </p><p>Neither PSGI nor the OBR figures include private investment in infrastructure which is an important element of overall infrastructure investment in the UK. The published infrastructure pipeline, which covers economic infrastructure only, provides an overview of planned public and private investment to 2020 and beyond, and can be found at the link below:</p><p> </p><p> </p><p><a href="https://www.gov.uk/government/publications/national-infrastructure-plan-2013" target="_blank">https://www.gov.uk/government/publications/national-infrastructure-plan-2013</a></p>
star this property answering member printed Lord Deighton more like this
star this property question first answered
less than 2014-06-19T15:26:43.924922Zmore like thismore than 2014-06-19T15:26:43.924922Z
star this property answering member
4262
star this property label Biography information for Lord Deighton more like this
star this property tabling member
2533
unstar this property label Biography information for Lord Birt more like this