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1464807

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Fuels: Excise Duties
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they will take to ensure the UK's petrol retailers (1) do not profiteer at the expense of the public, and (2) pass onto consumers the 5p fuel duty cut announced by the Chancellor of the Exchequer on 23 March.
tabling member printed	The Marquess of Lothian
uin	HL430
answer	answer is ministerial correction date of answer 08/06/2022 answer text <p>The Government has been clear that it expects those in the supply chain to have passed the fuel duty cut through to consumers, and to ensure that drivers across the country are getting a fair deal.</p><p> </p><p>The Competition and Markets Authority has been engaged about the issue and stands ready to take action, should there be evidence that competition or consumer protection law has been broken in the fuel retail market.</p> answering member printed Baroness Penn question first answered 08/06/2022 14:13:35 answering member 4726 label Biography information for Baroness Penn
tabling member	259 label Biography information for The Marquess of Lothian

1464821

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cost of Living
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 statement from the Head of the International Monetary Fund who said on the 21 May that governments need to subsidise the cost of energy and food for the poorest members of society.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL447
answer	answer is ministerial correction date of answer 07/06/2022 answer text <p>The government is providing over £37 billion of support in 2022-23 to help people with the cost of living, including an additional £15 billion of new support targeting those with the greatest need. Around three-quarters of the total support will go to vulnerable households.</p><p> </p><p>Millions of the most vulnerable households will receive at least £1,200 of one-off support in total this year to help with the cost of living, including for energy and food.</p><p> </p><p>In the long term, the best approach to managing the cost of living is to help people into work, supporting them to increase their incomes and helping them keep more of what they earn – announcements at the Spring Statement support this.</p> answering member printed Baroness Penn question first answered 07/06/2022 11:15:03 answering member 4726 label Biography information for Baroness Penn
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1464822

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cost of Living
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government when they will meet with the International Monetary Fund to discuss cost of living matters (1) in the UK, and (2) across the world.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL448
answer	answer is ministerial correction date of answer 06/06/2022 answer text <p>HMG is in regular communication with international and domestic stakeholders, including the IMF, regarding the state of the UK and global economies. HMG and the IMF engage in regular formal macroeconomic surveillance of the UK economy through Article IV consultations. The most recent Article IV mission to the UK took place in December 2021, with the results published in February 2022. The next formal consultation will be scheduled in due course.</p><p> </p><p>The Chancellor made a statement in the House of Commons on 26th May providing £15bn to support families with the cost of living. Combined with already announced plans, support HMG has provided for cost of living pressures in the UK totals £37bn or 1.5% of GDP.</p><p> </p><p>Most recently, the Chancellor attended the G7 Finance Ministers and Central Bank Governors meetings in Bonn on 19th-20th May, discussing the global challenge of inflation with other G7 members and international organisations, including the IMF. Global economic coordination will continue this year, including through further G7 and G20 meetings with the IMF in attendance.</p><p> </p><p>The UK continues to play a leading role in supporting vulnerable countries, including through its commitments at the IMF where the UK has pledged SDR 5bn to the Poverty Reduction and Growth Trust; which provides zero interest loans to low-income countries in need.</p> answering member printed Baroness Penn question first answered 06/06/2022 16:29:18 answering member 4726 label Biography information for Baroness Penn
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1464823

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Energy: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they will take to levy a windfall tax on oil and gas firms throughout the UK to address rising levels of fuel poverty.
tabling member printed	Baroness Ritchie of Downpatrick
uin	HL449
answer	answer is ministerial correction date of answer 06/06/2022 answer text <p>The Government is introducing the Energy Profits Levy, a new 25% surcharge on the extraordinary profits the oil and gas sector is making.</p><p> </p><p>The new Energy Profits Levy will raise around £5 billion over the next year which will go towards supporting people through the new cost of living measures announced by the Chancellor.</p><p> </p><p>As part of the levy, a new tax relief is being introduced to encourage firms to invest in the UK. The new 80% Investment Allowance means businesses will overall get a 91p tax saving for every £1 they invest.</p> answering member printed Baroness Penn question first answered 06/06/2022 09:06:23 answering member 4726 label Biography information for Baroness Penn
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

1464840

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government whether the Financial Conduct Authority has (1) collected, and (2) published, data in any of the years since 2015 showing how many members of contract-based pension schemes have fully withdrawn their pension fund, paying more than 20 per cent in tax; and if so, how many of these had no other pension provision.
tabling member printed	Baroness Altmann
uin	HL392
answer	answer is ministerial correction date of answer 06/06/2022 answer text <p>This issue is a matter for the Financial Conduct Authority (FCA), who are operationally independent from the Government.</p><p> </p><p>These questions have therefore been passed to the FCA who will respond by letter. Copies of the letter will be placed in the Library of the House.</p> answering member printed Baroness Penn question first answered 06/06/2022 16:14:14 answering member 4726 label Biography information for Baroness Penn
tabling member	4533 label Biography information for Baroness Altmann

1464859

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money
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 number of people who use cash in transactions; and whether this number is (1) increasing, or (2) decreasing.
tabling member printed	Lord Patten
uin	HL443
answer	answer is ministerial correction date of answer 06/06/2022 answer text <p>The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.</p><p>UK Finance’s UK Payment Markets report publishes figures annually on cash use in the UK. Cash remained the second most frequently used payment method in the UK as of 2020, representing almost a fifth (17%) of all total payments made. This is a reduction from 56% a decade earlier and 23% in 2019.</p><p> </p><p>The Financial Conduct Authority (FCA) publishes data on access to cash coverage across the UK. As of the third quarter of 2021, the FCA reported that nearly 96% of the UK population are within 2km of a free-to-use cash access point.</p><p> </p><p>The Government intends to introduce legislation on cash access as part of the Financial Services and Markets Bill when Parliamentary time allows. The Government recently published a summary of responses to the Access to Cash consultation, setting out the Government’s planned approach to legislating for access to cash. The Government’s planned legislation will ensure that people can continue to use cash in their day-to-day lives, and that local businesses can continue accepting cash.</p> answering member printed Baroness Penn grouped question UIN HL444 question first answered 06/06/2022 10:25:43 answering member 4726 label Biography information for Baroness Penn
tabling member	1137 label Biography information for Lord Patten

1464860

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Isles of Scilly
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 ability of (1) inhabitants, and (2) tourists, to withdraw cash whilst in the Isles of Scilly archipelago.
tabling member printed	Lord Patten
uin	HL444
answer	answer is ministerial correction date of answer 06/06/2022 answer text <p>The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.</p><p>UK Finance’s UK Payment Markets report publishes figures annually on cash use in the UK. Cash remained the second most frequently used payment method in the UK as of 2020, representing almost a fifth (17%) of all total payments made. This is a reduction from 56% a decade earlier and 23% in 2019.</p><p> </p><p>The Financial Conduct Authority (FCA) publishes data on access to cash coverage across the UK. As of the third quarter of 2021, the FCA reported that nearly 96% of the UK population are within 2km of a free-to-use cash access point.</p><p> </p><p>The Government intends to introduce legislation on cash access as part of the Financial Services and Markets Bill when Parliamentary time allows. The Government recently published a summary of responses to the Access to Cash consultation, setting out the Government’s planned approach to legislating for access to cash. The Government’s planned legislation will ensure that people can continue to use cash in their day-to-day lives, and that local businesses can continue accepting cash.</p> answering member printed Baroness Penn grouped question UIN HL443 question first answered 06/06/2022 10:25:43 answering member 4726 label Biography information for Baroness Penn
tabling member	1137 label Biography information for Lord Patten

1464948

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Monetary Policy
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the (a) effectiveness of money supply figures (i) six-month real, (ii) M1, (iii) M3, (iv) M4 in determining the state of the economy and (b) potential merits of more or less monetary tightening.
tabling member constituency	Bognor Regis and Littlehampton
tabling member printed	Nick Gibb
uin	6669
answer	answer is ministerial correction date of answer 26/05/2022 answer text <p>The Government continually monitors a range of economic indicators and developments to consider the impact of these on businesses and households.</p><p> </p><p>Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England and this includes decisions on Bank Rate and the assets held in the Asset Purchase Facility (APF). The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, and essential for the effective delivery of monetary policy, so the Government does not comment on the conduct or effectiveness of monetary policy.</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/05/2022 10:19:31 answering member 4051 label Biography information for John Glen
tabling member	111 label Biography information for Nick Gibb

1464971

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will take steps to help ensure that high street bank branches remain open.
tabling member constituency	Bury North
tabling member printed	James Daly
uin	6961
answer	answer is ministerial correction date of answer 26/05/2022 answer text <p>The Government recognises the importance of appropriate access to banking. However, decisions on opening and closing branches are a commercial decision for banks and building societies.</p><p /><p>The largest banks and building societies have been signed up to the Access to Banking Standard since 2017, which commits them to ensure that customers are well informed about branch closures, the bank’s reasons for closure and options for continued access to banking services.</p><p /><p>Guidance from the Financial Conduct Authority also sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</p><p /><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/05/2022 10:16:37 answering member 4051 label Biography information for John Glen
tabling member	4854 label Biography information for James Daly

1465033

registered interest
date	23/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Families: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to reduce the tax burden on families.
tabling member constituency	Bolton West
tabling member printed	Chris Green
uin	6797
answer	answer is ministerial correction date of answer 30/05/2022 answer text <p>The Chancellor’s Tax Plan cut the burden on working families by raising the threshold at which people pay National Insurance contributions from July 2022 and by cutting fuel duty by 5 pence for 12 months.</p><p> </p><p>This plan will also spread the benefit of economic growth by cutting the basic rate of Income Tax from April 2024.</p><p> </p><p>The Government has also provided at least £1200 to the most vulnerable households this year to help with the cost of living.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 30/05/2022 13:08:47 answering member 4517 label Biography information for Lucy Frazer
tabling member	4398 label Biography information for Chris Green