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173355

registered interest
date	13/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Departments: Procurement
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to his Department's guidance on delivering public value from spending proposals, under what circumstances procuring a system precedes completion of the full business case.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	220666
answer	answer is ministerial correction date of answer 16/01/2015 answer text <p>As set out in HM Treasury’s “The Green Book — appraisal and evaluation in Central Government”, all new policies, programmes and projects should be subject to comprehensive but proportionate assessment, where it is practicable, so as best to promote the public interest. The nature of this assessment will vary according to the nature of the proposal, and is likely to be influenced by factors such as the scale and complexity of the proposed procurement.</p><p> </p><p> </p><p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 16/01/2015 14:37:10 answering member 1535 label Biography information for Danny Alexander
tabling member	163 label Biography information for Sir Stephen Timms

173359

registered interest
date	13/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the (a) UK total managed expenditure in nominal sterling, (b) gross domestic product in nominal sterling and (c) percentage total managed expenditure is expressed as a percentage of the gross domestic product; and what the reasons are for the variances from the Public Expenditure Statistical analysis published by his Department in 2014.
tabling member constituency	Birmingham, Yardley
tabling member printed	John Hemming
uin	220518
answer	answer is ministerial correction date of answer 21/01/2015 answer text <p><strong>All these data are available from the Office for Budget Responsibility’s databank, including the Office for National Statistics outturn data (published 22<sup>nd</sup> November 2014) and the Office for Budget Responsibility’s independent forecast (consistent with the Economic and Fiscal Outlook December 2014 and the Autumn Statement 2014).</strong></p><p> </p><p><strong> </strong></p><p> </p><p><strong> </strong></p><p> </p><ol><li><p><strong>UK Total Managed Expenditure in nominal sterling.</strong></p><p><strong> </strong></p></li></ol><p> </p><table><tbody><tr><td> </td><td><p><strong>2009-10</strong></p></td><td><p><strong>2010-11</strong></p></td><td><p><strong>2011-12</strong></p></td><td><p><strong>2012-13</strong></p></td><td><p><strong>2013-14</strong></p></td><td> </td></tr><tr><td><p><strong>TME outturn (£bn)</strong></p></td><td><p>680.6</p></td><td><p>700.9</p></td><td><p>701.2</p></td><td><p>717.9</p></td><td><p>719.9</p></td><td> </td></tr><tr><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr><tr><td> </td><td><p><strong>2014-15</strong></p></td><td><p><strong>2015-16</strong></p></td><td><p><strong>2016-17</strong></p></td><td><p><strong>2017-18</strong></p></td><td><p><strong>2018-19</strong></p></td><td><p><strong>2019-20</strong></p></td></tr><tr><td><p><strong>TME forecast (£bn)</strong></p></td><td><p>737.1</p></td><td><p>746.2</p></td><td><p>746.7</p></td><td><p>751.3</p></td><td><p>765.3</p></td><td><p>779.9</p></td></tr></tbody></table><p> </p><p><strong> </strong></p><p> </p><ol><li><p><strong>Gross Domestic Product in nominal sterling.</strong></p><p><strong> </strong></p></li></ol><p> </p><table><tbody><tr><td> </td><td><p><strong>2009-10</strong></p></td><td><p><strong>2010-11</strong></p></td><td><p><strong>2011-12</strong></p></td><td><p><strong>2012-13</strong></p></td><td><p><strong>2013-14</strong></p></td><td> </td></tr><tr><td><p><strong>Nominal GDP outturn (£bn)</strong></p></td><td><p>1501.7</p></td><td><p>1,576.2</p></td><td><p>1,628.5</p></td><td><p>1,663.2</p></td><td><p>1,733.0</p></td><td> </td></tr><tr><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr><tr><td> </td><td><p><strong>2014-15</strong></p></td><td><p><strong>2015-16</strong></p></td><td><p><strong>2016-17</strong></p></td><td><p><strong>2017-18</strong></p></td><td><p><strong>2018-19</strong></p></td><td><p><strong>2019-20</strong></p></td></tr><tr><td><p><strong>Nominal GDP forecast (£bn)</strong></p></td><td><p>1,822.0</p></td><td><p>1,888.0</p></td><td><p>1,956.0</p></td><td><p>2,038.0</p></td><td><p>2,124.0</p></td><td><p>2,215.0</p></td></tr></tbody></table><p> </p><p><strong> </strong></p><p> </p><p><strong> </strong></p><p> </p><ol><li><p><strong>Total Managed Expenditure expressed as a percentage of the gross domestic product.</strong></p><p><strong> </strong></p></li></ol><p> </p><table><tbody><tr><td> </td><td><p><strong>2009-10</strong></p></td><td><p><strong>2010-11</strong></p></td><td><p><strong>2011-12</strong></p></td><td><p><strong>2012-13</strong></p></td><td><p><strong>2013-14</strong></p></td><td> </td></tr><tr><td><p><strong>TME outturn (%GDP)</strong></p></td><td><p>45.3</p></td><td><p>44.5</p></td><td><p>43.1</p></td><td><p>43.2</p></td><td><p>41.5</p></td><td> </td></tr><tr><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td><td> </td></tr><tr><td> </td><td><p><strong>2014-15</strong></p></td><td><p><strong>2015-16</strong></p></td><td><p><strong>2016-17</strong></p></td><td><p><strong>2017-18</strong></p></td><td><p><strong>2018-19</strong></p></td><td><p><strong>2019-20</strong></p></td></tr><tr><td><p><strong>TME forecast (%GDP)</strong></p></td><td><p>40.5</p></td><td><p>39.5</p></td><td><p>38.2</p></td><td><p>36.9</p></td><td><p>36.0</p></td><td><p>35.2</p></td></tr></tbody></table><p> </p><p><strong> </strong></p><p> </p><p><strong> </strong></p><p> </p><p><strong>Variances when comparing the most up to date figures set out above against the Public Expenditure Statistical Analysis (command paper) are due to these figures including the latest outturn data, incorporating the latest forecast judgement by the Office for Budget Responsibility and the latest classification changes made by the Office for National Statistics.</strong></p><p> </p><p><strong> </strong></p><p> </p><p><strong>Since the Public Expenditure Statistical Analysis was published in July 2014 the Office for Budget Responsibility has published their latest forecast in their December 2014 Economic and Fiscal Outlook. The Office for National Statistics regularly update outturn, at a various points in the year, for total managed expenditure and gross domestic product.</strong></p><p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 21/01/2015 17:19:05 answering member 1535 label Biography information for Danny Alexander
tabling member	1483 label Biography information for John Hemming

173360

registered interest
date	13/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Invest NI
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, when he last met the Chief Executive of Invest NI.
tabling member constituency	Bury South
tabling member printed	Mr Ivan Lewis
uin	220521
answer	answer is ministerial correction date of answer 16/01/2015 answer text <p>Treasury Ministers have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p> </p><p> </p><p> </p><p>Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:<br> <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 16/01/2015 14:40:57 answering member 1529 label Biography information for Mr David Gauke
tabling member	441 label Biography information for Mr Ivan Lewis

173363

registered interest
date	13/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, when he plans to bring forward legislative proposals to devolve corporation tax to the Northern Ireland Executive.
tabling member constituency	South Antrim
tabling member printed	Dr William McCrea
uin	220597
answer	answer is ministerial correction date of answer 20/01/2015 answer text <p>Following the 23 December Stormont House Agreement, the Government introduced and published the Corporation Tax (Northern Ireland) Bill on 8 January 2015. The Bill is available here:</p><p> </p><p><a href="https://www.gov.uk/government/news/new-bill-to-devolve-corporation-tax-in-northern-ireland" target="_blank">https://www.gov.uk/government/news/new-bill-to-devolve-corporation-tax-in-northern-ireland</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 20/01/2015 11:10:22 answering member 1529 label Biography information for Mr David Gauke
tabling member	655 label Biography information for Lord McCrea of Magherafelt and Cookstown

173364

registered interest
date	13/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the total amount of non-fiscal spending in each year from 2009-10 to 2014-15 is (a) in real terms and (b) as a proportion of total government spending.
tabling member constituency	Wakefield
tabling member printed	Mary Creagh
uin	220622
answer	answer is ministerial correction date of answer 21/01/2015 answer text “Non-fiscal spend” is not a formal term in the UK National Accounting framework. It is sometimes used to refer to items of public expenditure, which although included in departmental budgets, are either not classified as spending in the National Accounts or use a different source.<p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander grouped question UIN 220647 220808 question first answered 21/01/2015 17:22:14 answering member 1535 label Biography information for Danny Alexander
tabling member	1579 label Biography information for Mary Creagh

172976

registered interest
date	12/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Departments: Pensions
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 Deighton on 6 January (HL3478) concerning the Government Employee Pensions liability, whether the £1,171.6 billion is part of, or additional to, the national debt.
tabling member printed	Lord Stoddart of Swindon
uin	HL4048
answer	answer is ministerial correction date of answer 26/01/2015 answer text <p>We can confirm that the £1,171.6 billion Government Employees Pensions liability is additional to the national debt.</p><p> </p><p> </p><p> </p><p>The WGA produce consolidated accounts of all public sector bodies based on internationally recognised accounting standards. The amount shown includes the pension liability for central government, local government, police, fire, teachers, NHS and Armed Forces staffs. It also includes public corporations.</p><p> </p><p> </p><p> </p><p>A reconciliation between the Public Sector Net Debt figure, and the WGA Public Sector Net Liabilities figure, can be found at Chapter 3 of the 2012-13 Whole of Government Accounts.</p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 26/01/2015 16:46:38 answering member 4262 label Biography information for Lord Deighton
tabling member	950 label Biography information for Lord Stoddart of Swindon

172977

registered interest
date	12/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Housing: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what would be the financial effect of abolishing stamp duty on house purchases and replacing it with a form of Schedule A tax on owner-occupied houses; and whether such a policy would benefit house buyers, especially first-time house buyers.
tabling member printed	Lord Stoddart of Swindon
uin	HL4049
answer	answer is ministerial correction date of answer 26/01/2015 answer text <p>Stamp Duty Land Tax (SDLT) raised £9.4 billion in 2013-2014, of which £6.45 billion was from residential property transactions. Total SDLT receipts are expected to increase over the coming years, reaching £19.5 billion by 2019-2020 according to the Office for Budget Responsibility. This revenue would be foregone if SDLT was abolished. Robustly assessing the effect, including the financial effect, of introducing a form of Schedule A tax, based on imputed rents, to replace SDLT, would incur a disproportionate cost.</p><p> </p><p> </p><p> </p><p>At the Autumn Statement 2014, the Government announced a radical reform of SDLT on residential properties to make it more efficient and fairer, ensuring that SDLT will be cut for 98% of people who pay it. The old structure of SDLT created distortions in the housing market and acted as a brake on aspiration as those wishing to move onto or up the housing ladder were met with large increases in tax when properties fell into higher tax bands. The new system will provide help to first time buyers and aspirational homeowners wishing to move up the housing ladder.</p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 26/01/2015 17:45:42 answering member 4262 label Biography information for Lord Deighton
tabling member	950 label Biography information for Lord Stoddart of Swindon

173022

registered interest
date	12/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government how many companies went into administration or receivership where they were unable to recoup all the VAT and PAYE tax due in 2010, 2011, 2012, 2013, and 2014; and what was the total value of the income foregone in each year.
tabling member printed	Lord Mendelsohn
uin	HL4094
answer	answer is ministerial correction date of answer 26/01/2015 answer text <p>HMRC does not hold the information in the request.</p><p> </p> answering member printed Lord Deighton question first answered 26/01/2015 16:53:18 answering member 4262 label Biography information for Lord Deighton
tabling member	4286 label Biography information for Lord Mendelsohn

173023

registered interest
date	12/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Private Equity
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have received any representations to change the tax advantages for the private equity industry on the treatment of "carry" as a capital gain; and if so, whether any of those representations have supported changes in the tax position to encourage longer-term funds with 10 year investment horizons.
tabling member printed	Lord Mendelsohn
uin	HL4095
answer	answer is ministerial correction date of answer 26/01/2015 answer text <p>Treasury Ministers and officials meet with, and receive, representations from, a wide range of organisations and individuals in the public and private sectors, as part of the usual policy making process. As was the case with previous Administrations, it is not the Treasury’s practice to provide details of all such representations.</p><p> </p> answering member printed Lord Deighton question first answered 26/01/2015 16:47:27 answering member 4262 label Biography information for Lord Deighton
tabling member	4286 label Biography information for Lord Mendelsohn

173024

registered interest
date	12/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Pay
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether the Bank of England’s fair and effective markets review will consider the level of bonuses paid to individuals working in the fixed income, commodities and currency markets; and how institutions fined for practices in those areas have dealt with the payments made to such individuals.
tabling member printed	Lord Mendelsohn
uin	HL4096
answer	answer is ministerial correction date of answer 27/01/2015 answer text <p>The Government has taken a substantial number of measures to change the culture in UK banking.</p><p> </p><p> </p><p> </p><p>This Government supported the work of the Parliamentary Commission on Banking Standards which reported in June 2013 on professional standards and culture of the UK banking sector. Legislation to give effect to its recommendations on banking standards and individual accountability were included in the Financial Services (Banking Reform) Act 2013. The Financial Conduct Authority, the Prudential Regulation Authority and the Treasury worked through 2014 to prepare secondary legislation, regulatory rules and other detailed implementing measures.</p><p> </p><p>The Government expects to announce the final timetable for implementing these reforms shortly.</p><p> </p><p> </p><p> </p><p>In the Financial Services Act 2012, this Government introduced a new criminal offence to address the issue of the manipulation of the LIBOR interest rate benchmark. In December 2014 the government announced that this offence would be extended to cover a further seven financial benchmarks from, subject to Parliamentary approval, 1 April 2015.</p><p> </p><p> </p><p> </p><p>We also recognise that there is more to do if the banking industry and global financial markets are to regain public trust. The Chancellor of the Exchequer therefore announced in his Mansion House speech in June 2014 a Treasury, Bank of England and FCA review of the operation of the foreign exchange, fixed income and commodity markets. The Fair and Effective Markets Review will examine how trust and credibility in these markets can be restored. The review will report in June 2015.</p><p> </p><p> </p><p> </p><p>In November 2014 the Financial Conduct Authority (FCA), in co-ordination with financial regulators in the US and Switzerland, announced the outcome of its investigations into attempted manipulation of foreign exchange markets by 5 banks. It imposed penalties on 5 banks totalling £1.11 billion. In addition the Director of the <a href="http://en.wikipedia.org/wiki/Serious_Fraud_Office" target="_blank">Serious Fraud Office</a> opened a criminal investigation into allegations of fraudulent conduct in the foreign exchange market in July 2014. The Government does not comment on ongoing investigations, so as not to prejudice these inquiries.</p><p> </p><p> </p><p> </p><p>Ensuring that firms incentivise employees to behave in the right way is essential to restoring public trust in financial services. The Fair &amp; Effective Markets Review’s scope covers trading practices in markets, and drivers of behaviour including incentives for individuals. In November 2014 the Chancellor wrote to the Governor of the Bank of England to ask that the increasing levels of fixed remuneration in the financial sector following the introduction of the ‘bonus cap’ be considered as part of this work.</p><p> </p><p> </p><p> </p> answering member printed Lord Deighton grouped question UIN HL4103 HL4104 question first answered 27/01/2015 16:42:38 answering member 4262 label Biography information for Lord Deighton
tabling member	4286 label Biography information for Lord Mendelsohn