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392051

registered interest
date	22/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Money Laundering
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they plan to require estate agents to carry out anti-money-laundering due diligence checks on the purchaser of a property, in addition to those they carry out on the seller.
tabling member printed	Lord Rooker
uin	HL1806
answer	answer is ministerial correction date of answer 30/07/2015 answer text <p>The Government will consult this year on transposing the 4th EU Money Laundering Directive in order to comply with the revised global standards of the Financial Action Task Force. We will use this to consult on other changes to improve the effectiveness of the UK’s anti-money laundering and counter terrorist finance regime, including whether or not to require estate agents to conduct due diligence on the buyer as well as the seller of a property.</p><p> </p><p> </p><p> </p><p>The Government is committed to protecting the financial system and national security, through effective and proportionate use of financial sanctions, anti-money laundering, counter-terrorist and proliferation finance measures. All those dealing with property transactions in the UK, including banks, lawyers and estate agents, are required to actively detect and prevent money laundering including reporting suspicious activity to the National Crime Agency and conducting customer due diligence using a risk-based approach.</p><p> </p><p> </p><p> </p><p><strong> </strong></p><p> </p><p><strong> </strong></p><p><strong><br> </strong></p> answering member printed Lord O'Neill of Gatley question first answered 30/07/2015 13:32:07 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	302 label Biography information for Lord Rooker

391947

registered interest
date	21/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Public Sector: Borrowing
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of how much public-sector borrowing will grow up to 2018–19 as a consequence of the fiscal changes announced in the recent budget.
tabling member printed	Lord Kennedy of Southwark
uin	HL1710
answer	answer is ministerial correction date of answer 30/07/2015 answer text <p>The government has set out a strategy that reduces the deficit at the same rate again in this Parliament as over the previous Parliament - that means reducing the deficit by 1.1 per cent of GDP a year on average, for the next four years. While, as set out in the Office for Budget Responsibility’s July Economic and Fiscal Outlook, borrowing is forecast to be £21 billion higher up to 2018-19, the resulting smoother fiscal path leads to a higher surplus and lower public sector net debt as a share of GDP, relative to the March Budget.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 30/07/2015 13:31:22 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	4153 label Biography information for Lord Kennedy of Southwark

391968

registered interest
date	21/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services Compensation Scheme
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government why the compensation limit under the Deposit Guarantee Scheme has been reduced in line with a European directive that sets a limit in euros, despite the fact that the United Kingdom is not in the Eurozone; and whether they will take steps to ensure that United Kingdom citizens do not suffer as a result, if necessary by introducing a separate United Kingdom compensation scheme.
tabling member printed	Lord Higgins
uin	HL1731
answer	answer is ministerial correction date of answer 27/07/2015 answer text <p>The Deposit Guarantee Scheme Directive (DGSD) updates existing legislation designed to harmonise the level of deposit protection provided across the European Economic Area (EEA), of which the UK is a part.</p><p> </p><p> </p><p> </p><p>This is a single market measure to ensure that depositors are entitled to the same level of protection (equivalent to €100,000 per regulated firm, regardless of currency) wherever in the EEA 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 (PRA) to revise the sterling coverage limit provided by the UK’s deposit guarantee scheme, the Financial Services Compensation Scheme (FSCS). 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> </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 FSCS will continue to be until 31 December 2015, after which the new deposit coverage limit of £75,000 will come into effect.</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 any necessary steps to manage their financial affairs appropriately in light of this change. It is estimated that 5 per cent of retail depositors are affected by this change.</p><p> </p><p> </p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 27/07/2015 13:46:00 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	1067 label Biography information for Lord Higgins

391969

registered interest
date	21/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Compensation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, in relation to the Deposit Guarantee Scheme, whether the principle of uberrima fides applies to state insurers within the European Union, as well as private insurers.
tabling member printed	Lord Higgins
uin	HL1732
answer	answer is ministerial correction date of answer 27/07/2015 answer text <p>The principle of uberrima fides does not apply to the UK’s Deposit Guarantee Scheme. Uberrima fides is a principle that applies to insurers and insurance contracts, but the Deposit Guarantee Scheme is not an insurance scheme and is not contractual. The duties of the Deposit Guarantee Scheme are set out in the EU Deposit Guarantee Scheme Directive and the relevant UK legislation.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 27/07/2015 13:44:40 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	1067 label Biography information for Lord Higgins

391267

registered interest
date	20/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Ulster Bank
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what assessment they have made of what assets, if any, have been sold by Ulster Bank Ltd to Cerberus Capital Management since 2013; and what assessment they have made of the impact of such sales on their three objectives for their shareholding in Royal Bank of Scotland.
tabling member printed	Lord Empey
uin	HL1634
answer	answer is ministerial correction date of answer 27/07/2015 answer text <p>The Chancellor has previously set out his objectives for the banks in state ownership, including Royal Bank of Scotland (RBS). The government wants to maximise the ability of these important banks to support the British economy; get the best value for money for the taxpayer; and return them to private ownership.</p><p> </p><p> </p><p> </p><p>Following a strategic review in 2013, the RBS Group committed to accelerating its return to private ownership by improving the performance of its ‘core’ bank. This included the creation of an internal ‘bad bank’ to house underperforming and high-risk assets, and a commitment to removing them from its balance sheet quickly.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p>The RBS Group announced in December 2014 that it had sold a £1.1 billion portfolio of real estate loans from its internal ‘bad bank’ to Cerberus Capital Management, reflecting the improved economic outlook of investors for the economy in Northern Ireland.</p><p> </p><p> </p><p> </p><p>The Government’s shareholding in RBS is managed at arm's length from HM Treasury by UK Financial Investments (UKFI). As an engaged shareholder, UKFI works closely with the banks’ management to assure itself of the banks’ approach to strategy. However, UKFI’s role is to manage the investment, not to manage the bank. Commercial decisions and assessments, including those relating to the sale of assets, remain a matter for the bank’s independent management team.</p><p> </p><p> </p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 27/07/2015 13:50:45 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	4216 label Biography information for Lord Empey

391293

registered interest
date	20/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Economic and Monetary Union: Greece
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 potential effect of a Greek exit from the euro on the United Kingdom economy; and what contingency plans have been made for that eventuality.
tabling member printed	The Marquess of Lothian
uin	HL1651
answer	answer is ministerial correction date of answer 27/07/2015 answer text <p>As the Chancellor has said, we should not underestimate the impact that a Greek exit from the euro area would have on the European economy – or the knock-on effects on the UK. But the economic plan we have pursued in Britain these last five years has increased our resilience – and we will take whatever further steps are needed to protect the UK from new risks to our economic security. The Treasury continuously monitors global economic developments, including those in Greece, and their impact on the UK as part of the normal process of policy development.</p><p> </p><p> </p><p> </p><p>The UK government stands ready to do whatever is necessary to protect and secure the British economy and financial system, and support businesses and individuals. As you would expect, these contingency plans take into account a wide range of scenarios.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 27/07/2015 13:42:59 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	259 label Biography information for The Marquess of Lothian

391297

registered interest
date	20/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Government Departments: Telephone Services
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 O’Neill of Gatley on 9 July (HL898), what training in communication skills is provided for the officials in (1) HM Revenue and Customs, (2) the Home Office, (3) the Ministry of Justice, (4) the Department for Work and Pensions, and (5) the Department for Business, Innovation and Skills, who are responsible for helping members of the public who telephone with complaints or requests for information.
tabling member printed	Lord Quirk
uin	HL1653
answer	answer is ministerial correction date of answer 30/07/2015 answer text <p>All new HM Revenue and Customs (HMRC) telephony advisers receive two days of call handling soft skills training, prior to handling customer calls. Further call handling training is provided depending on the needs of the advisor.</p><p> </p><p> </p><p> </p><p>The first escalation for complaints from an adviser is to a Team Leader. 80 per cent of complaints are successfully handled at this point.</p><p> </p><p> </p><p> </p><p>HMRC’s Personal Tax Operations has a specific team who deal with customer complaints received via telephone.</p><p> </p><p> </p><p> </p><p>HMRC has a target of answering 80 per cent of all calls received.</p><p> </p><p> </p><p> </p><p>Information regarding the training and performance on telephony issues for other Government Departments is not held centrally and should be obtained from the Departments concerned.</p><p> </p><p> </p><p> </p> answering member printed Lord O'Neill of Gatley grouped question UIN HL1654 question first answered 30/07/2015 13:33:52 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3254 label Biography information for Lord Quirk

391298

registered interest
date	20/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Government Departments: Telephone Services
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 O’Neill of Gatley on 9 July (HL898), whether there are target times by which calls from members of the public are expected to receive attention when telephoning (1) HM Revenue and Customs, (2) the Home Office, (3) the Ministry of Justice, (4) the Department for Work and Pensions, and (5) the Department for Business, Innovation and Skills.
tabling member printed	Lord Quirk
uin	HL1654
answer	answer is ministerial correction date of answer 30/07/2015 answer text <p>All new HM Revenue and Customs (HMRC) telephony advisers receive two days of call handling soft skills training, prior to handling customer calls. Further call handling training is provided depending on the needs of the advisor.</p><p> </p><p> </p><p> </p><p>The first escalation for complaints from an adviser is to a Team Leader. 80 per cent of complaints are successfully handled at this point.</p><p> </p><p> </p><p> </p><p>HMRC’s Personal Tax Operations has a specific team who deal with customer complaints received via telephone.</p><p> </p><p> </p><p> </p><p>HMRC has a target of answering 80 per cent of all calls received.</p><p> </p><p> </p><p> </p><p>Information regarding the training and performance on telephony issues for other Government Departments is not held centrally and should be obtained from the Departments concerned.</p><p> </p><p> </p><p> </p> answering member printed Lord O'Neill of Gatley grouped question UIN HL1653 question first answered 30/07/2015 13:33:52 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	3254 label Biography information for Lord Quirk

391343

registered interest
date	20/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Coinage
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is the weight of a newly minted 10 pence piece; what is the weight after it has been in circulation for several years; and what assessment they have made of the acceptance of new 10 pence pieces by coin-operated machines.
tabling member printed	Lord Radice
uin	HL1677
answer	answer is ministerial correction date of answer 27/07/2015 answer text <p>Since the introduction of a smaller version in 1992, newly minted ten pence pieces have had a weight of 6.5 grammes. This remained the case from January 2012, when the composition was changed from a cupronickel alloy to nickel-plated steel. The weight of a ten pence piece does not change materially over the course of its lifecycle.</p><p> </p><p> </p><p> </p><p>The Royal Mint works closely with a number of trade associations and manufacturers of coin operated equipment on an ongoing basis, and consulted with them when determining the precise specification of the nickel-plated steel ten pence piece. Whilst no formal assessment of acceptance has been made, members and operators are all routinely encouraged to upgrade their equipment.</p><p> </p> answering member printed Lord O'Neill of Gatley question first answered 27/07/2015 13:46:57 answering member 4536 label Biography information for Lord O'Neill of Gatley
tabling member	510 label Biography information for Lord Radice

390926

registered interest
date	17/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Terrorism
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the vulnerability of the financial system to terrorist actions; and if he will make a statement.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	7869
answer	answer is ministerial correction date of answer 24/07/2015 answer text <p>This government considers the resilience of the financial sector to a range of security threats and natural hazards. While responsibility for the resilience of the financial sector is primarily for firms themselves, the government continues to support measures to strengthen the resilience of the sector, and in particular its critical systems, working closely with the Bank of England (BoE) the Financial Conduct Authority (FCA), wider government and the sector.</p><p> </p><p> </p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 24/07/2015 08:16:42 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	116 label Biography information for Lord Soames of Fletching