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1010106

registered interest
date	19/11/2018
answering body	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 what assessment they have made of the impact of the announcement in the 2018 Budget of making HMRC a secondary preferential creditor in insolvency on (1) secured creditors, (2) floating charge holders, and (3) unsecured creditors such as pension funds and small businesses.
tabling member printed	Baroness Burt of Solihull
uin	HL11553
answer	answer is ministerial correction date of answer 03/12/2018 answer text <p>The government does not expect this reform to significantly impact access to finance or the cost of borrowing.</p><p>The independent OBR did not make any adjustments to their economic forecast in regard to this measure.</p><p>At Budget 2018, the Government published the following assessment:</p><table><tbody><tr><td><p>Type of Creditor</p></td><td><p>Explanation and Examples</p></td><td><p>Current Average Percentage of Debt Recovered in Insolvency</p></td><td><p>New Average Percentage of Debt Recovered in Insolvency</p></td></tr><tr><td><p><ol><li>Fixed charge secured creditors</li></ol></p></td><td><p>Lenders to whom the business granted security, primarily financial institutions. When a fixed charge is provided, the company loses the right to sell or trade the item. These assets tend to be fundamental to the business; for example, machinery, property or vehicles.</p></td><td><p>36%</p></td><td><p>36% (unchanged)</p></td></tr><tr><td><p><ol start="2"><li>Insolvency practitioners</li></ol></p></td><td><p>Fees for overseeing the process.</p></td><td><p>As charged</p></td><td><p>As charged</p></td></tr><tr><td><p><ol start="3"><li>Preferential Creditors</li></ol></p></td><td><p>Claims by the Redundancy Payment Service (RPS) and Financial Services Compensation Scheme (FSCS) on behalf of employees and customers (to statutory limits); and from 2020, HMRC will be a secondary preferential creditor (below the RPS and FSCS) for Value-Added Tax, Employee National Insurance contributions, Pay-As-You-Earn Income Tax and Construction Industry Scheme Deductions.</p></td><td><p>83%</p></td><td><p>83% (unchanged) for existing preferential creditors; 14% for HMRC</p></td></tr><tr><td><p><ol start="4"><li>Floating charge secured creditors</li></ol></p></td><td><p>Lenders for whom the company is not granted security, primarily financial institutions. This tends t be the case in relation to assets that are not fixed; for example, stocks, raw materials, fixtures and fittings or cash.</p></td><td><p>36%</p></td><td><p>Less than 36%</p></td></tr><tr><td><p><ol start="5"><li>Unsecured creditors</li></ol></p></td><td><p>All remaining creditors, including HMRC debts levied directly on businesses; and debts owed to suppliers, contractors, landlords and customers.</p></td><td><p>4%</p></td><td><p>Less than 4%</p></td></tr><tr><td><p><ol start="6"><li>Shareholder</li></ol></p></td><td><p>Only get paid if all the above creditors are paid in full.</p></td><td><p>N/A</p></td><td><p>N/A</p></td></tr></tbody></table><p><strong> </strong></p><p> </p> answering member printed Lord Bates grouped question UIN HL11554 HL11555 question first answered 03/12/2018 14:50:03 answering member 1091 label Biography information for Lord Bates
tabling member	1567 label Biography information for Baroness Burt of Solihull

1010107

registered interest
date	19/11/2018
answering body	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 what assessment they have made of the impact on lending to UK businesses of the announcement in the 2018 Budget of making HMRC a secondary preferential creditor in insolvency.
tabling member printed	Baroness Burt of Solihull
uin	HL11554
answer	answer is ministerial correction date of answer 03/12/2018 answer text <p>The government does not expect this reform to significantly impact access to finance or the cost of borrowing.</p><p>The independent OBR did not make any adjustments to their economic forecast in regard to this measure.</p><p>At Budget 2018, the Government published the following assessment:</p><table><tbody><tr><td><p>Type of Creditor</p></td><td><p>Explanation and Examples</p></td><td><p>Current Average Percentage of Debt Recovered in Insolvency</p></td><td><p>New Average Percentage of Debt Recovered in Insolvency</p></td></tr><tr><td><p><ol><li>Fixed charge secured creditors</li></ol></p></td><td><p>Lenders to whom the business granted security, primarily financial institutions. When a fixed charge is provided, the company loses the right to sell or trade the item. These assets tend to be fundamental to the business; for example, machinery, property or vehicles.</p></td><td><p>36%</p></td><td><p>36% (unchanged)</p></td></tr><tr><td><p><ol start="2"><li>Insolvency practitioners</li></ol></p></td><td><p>Fees for overseeing the process.</p></td><td><p>As charged</p></td><td><p>As charged</p></td></tr><tr><td><p><ol start="3"><li>Preferential Creditors</li></ol></p></td><td><p>Claims by the Redundancy Payment Service (RPS) and Financial Services Compensation Scheme (FSCS) on behalf of employees and customers (to statutory limits); and from 2020, HMRC will be a secondary preferential creditor (below the RPS and FSCS) for Value-Added Tax, Employee National Insurance contributions, Pay-As-You-Earn Income Tax and Construction Industry Scheme Deductions.</p></td><td><p>83%</p></td><td><p>83% (unchanged) for existing preferential creditors; 14% for HMRC</p></td></tr><tr><td><p><ol start="4"><li>Floating charge secured creditors</li></ol></p></td><td><p>Lenders for whom the company is not granted security, primarily financial institutions. This tends t be the case in relation to assets that are not fixed; for example, stocks, raw materials, fixtures and fittings or cash.</p></td><td><p>36%</p></td><td><p>Less than 36%</p></td></tr><tr><td><p><ol start="5"><li>Unsecured creditors</li></ol></p></td><td><p>All remaining creditors, including HMRC debts levied directly on businesses; and debts owed to suppliers, contractors, landlords and customers.</p></td><td><p>4%</p></td><td><p>Less than 4%</p></td></tr><tr><td><p><ol start="6"><li>Shareholder</li></ol></p></td><td><p>Only get paid if all the above creditors are paid in full.</p></td><td><p>N/A</p></td><td><p>N/A</p></td></tr></tbody></table><p><strong> </strong></p><p> </p> answering member printed Lord Bates grouped question UIN HL11553 HL11555 question first answered 03/12/2018 14:50:03 answering member 1091 label Biography information for Lord Bates
tabling member	1567 label Biography information for Baroness Burt of Solihull

1010108

registered interest
date	19/11/2018
answering body	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 what economic analysis they used to support the decision in the 2018 Budget to make HMRC a secondary preferential creditor in insolvency.
tabling member printed	Baroness Burt of Solihull
uin	HL11555
answer	answer is ministerial correction date of answer 03/12/2018 answer text <p>The government does not expect this reform to significantly impact access to finance or the cost of borrowing.</p><p>The independent OBR did not make any adjustments to their economic forecast in regard to this measure.</p><p>At Budget 2018, the Government published the following assessment:</p><table><tbody><tr><td><p>Type of Creditor</p></td><td><p>Explanation and Examples</p></td><td><p>Current Average Percentage of Debt Recovered in Insolvency</p></td><td><p>New Average Percentage of Debt Recovered in Insolvency</p></td></tr><tr><td><p><ol><li>Fixed charge secured creditors</li></ol></p></td><td><p>Lenders to whom the business granted security, primarily financial institutions. When a fixed charge is provided, the company loses the right to sell or trade the item. These assets tend to be fundamental to the business; for example, machinery, property or vehicles.</p></td><td><p>36%</p></td><td><p>36% (unchanged)</p></td></tr><tr><td><p><ol start="2"><li>Insolvency practitioners</li></ol></p></td><td><p>Fees for overseeing the process.</p></td><td><p>As charged</p></td><td><p>As charged</p></td></tr><tr><td><p><ol start="3"><li>Preferential Creditors</li></ol></p></td><td><p>Claims by the Redundancy Payment Service (RPS) and Financial Services Compensation Scheme (FSCS) on behalf of employees and customers (to statutory limits); and from 2020, HMRC will be a secondary preferential creditor (below the RPS and FSCS) for Value-Added Tax, Employee National Insurance contributions, Pay-As-You-Earn Income Tax and Construction Industry Scheme Deductions.</p></td><td><p>83%</p></td><td><p>83% (unchanged) for existing preferential creditors; 14% for HMRC</p></td></tr><tr><td><p><ol start="4"><li>Floating charge secured creditors</li></ol></p></td><td><p>Lenders for whom the company is not granted security, primarily financial institutions. This tends t be the case in relation to assets that are not fixed; for example, stocks, raw materials, fixtures and fittings or cash.</p></td><td><p>36%</p></td><td><p>Less than 36%</p></td></tr><tr><td><p><ol start="5"><li>Unsecured creditors</li></ol></p></td><td><p>All remaining creditors, including HMRC debts levied directly on businesses; and debts owed to suppliers, contractors, landlords and customers.</p></td><td><p>4%</p></td><td><p>Less than 4%</p></td></tr><tr><td><p><ol start="6"><li>Shareholder</li></ol></p></td><td><p>Only get paid if all the above creditors are paid in full.</p></td><td><p>N/A</p></td><td><p>N/A</p></td></tr></tbody></table><p><strong> </strong></p><p> </p> answering member printed Lord Bates grouped question UIN HL11553 HL11554 question first answered 03/12/2018 14:50:04 answering member 1091 label Biography information for Lord Bates
tabling member	1567 label Biography information for Baroness Burt of Solihull

1010143

registered interest
date	19/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Closures
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of bank branch closures on the financial well-being of the elderly.
tabling member printed	Lord Taylor of Warwick
uin	HL11590
answer	answer is ministerial correction date of answer 03/12/2018 answer text <p>The Treasury does not make assessments of bank branch closures, including the impact on the financial well-being of the elderly, as this is a commercial matter for banks. However, the Government believes it is important the impact of branch closures on communities is understood, considered and mitigated where possible.</p><p> </p><p>That’s why the Government supports the industry’s Access to Banking Standard which helps customers to understand the options they have locally to continue to access banking services, including specialist assistance for customers who need more help, which may include the elderly.</p><p> </p><p>The Government also considers it important that all customers, wherever they live and especially those who are vulnerable, can still access over the counter banking services. The Post Office’s Banking Framework Agreement enables 99% of banks’ personal customers to carry out their everyday banking at a Post Office counter via its network of 11,500 branches. The Government believes it is essential that more customers are aware of these useful services. This is why we asked UK Finance and the Post Office to create a 5-point action plan to increase publicity of Post Office banking services and ensure more customers can benefit from them.</p> answering member printed Lord Bates question first answered 03/12/2018 14:38:20 answering member 1091 label Biography information for Lord Bates
tabling member	1796 label Biography information for Lord Taylor of Warwick

1010301

registered interest
date	19/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Welfare Tax Credits
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many child tax credit and working tax credit cases are waiting over 30 days for a mandatory reconsideration.
tabling member constituency	Hemsworth
tabling member printed	Jon Trickett
uin	192741
answer	answer is ministerial correction date of answer 27/11/2018 answer text <p>The total number of tax credits cases that are waiting over 30 days for a mandatory reconsideration is 859. This figure is inclusive of all claims with Child Tax Credit and/or Working Tax Credits.</p><p> </p><p>The total number of tax credits cases that are waiting over 40 days for a mandatory reconsideration is 40. This figure is inclusive of all claims with Child Tax Credit and/or Working Tax Credits.</p><p> </p> answering member constituency South West Norfolk answering member printed Elizabeth Truss grouped question UIN 192742 question first answered 27/11/2018 13:55:21 answering member 4097 label Biography information for Elizabeth Truss
tabling member	410 label Biography information for Jon Trickett

1010347

registered interest
date	19/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insurance: EU Countries
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether (a) he and (b) the Financial Conduct Authority plan to investigate the alleged unlicensed selling of insurance products in EU countries to UK investors by UK companies using Isle of Man subsidiaries.
tabling member constituency	Oxford West and Abingdon
tabling member printed	Layla Moran
uin	192912
answer	answer is ministerial correction date of answer 22/11/2018 answer text <p>Under EU rules, it is the responsibility of the regulator in the country where the insurance product is purchased to monitor its insurance market for unauthorised products.</p><p> </p><p>The FCA has powers to act if a firm is conducting a regulated activity in the UK without the required permission. The Government is confident in the FCA’s ability to monitor the UK insurance market and protect people who buy insurance products in the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 22/11/2018 13:52:01 answering member 4051 label Biography information for John Glen
tabling member	4656 label Biography information for Layla Moran

1008452

registered interest
date	16/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Foreign Investment in UK
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the level of foreign direct investment was in the 12 months from July 2017.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	192101
answer	answer is ministerial correction date of answer 21/11/2018 answer text <p>The latest ONS Balance of Payments data shows that in the year to 2018 Q2, foreign direct investment flows (net incurrence of liabilities) into the UK measured £58.1bn.</p> answering member constituency Salisbury answering member printed John Glen question first answered 21/11/2018 14:35:28 answering member 4051 label Biography information for John Glen
tabling member	1409 label Biography information for Mr Gregory Campbell

1008455

registered interest
date	16/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Credits
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 23 October 2018 to Question 179286, whether the Government plans to make back payments of child benefit to those parents who have mistakenly omitted to claim that benefit and as a result lost out on national insurance state pension credits.
tabling member constituency	Tooting
tabling member printed	Dr Rosena Allin-Khan
uin	192115
answer	answer is ministerial correction date of answer 23/11/2018 answer text <p>The Government has always urged families to claim Child Benefit to help protect their future right to the State Pension.</p><p> </p><p>The legislation sets out that claims for Child Benefit (and the accompanying National Insurance credit) can only be backdated for three months.</p><p> </p><p>Successive governments have considered that three months is a fair and reasonable time in which to allow those wishing to claim Child Benefit to do so.</p><p> </p><p>Even though there may be no question that some parents would have been entitled to Child Benefit had they claimed earlier, such certainty is not obvious in every case. The longer the delay, the harder it is to establish entitlement, given the need to verify evidence and ensure consistent treatment.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 23/11/2018 10:06:39 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4573 label Biography information for Dr Rosena Allin-Khan

1008474

registered interest
date	16/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Minimum Wage: Fines
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 November 2018 to Question 187012, how many civil sanctions have been applied to employers for failing to pay the national minimum wage (a) in total and (b) in relation to internship roles in each year since 1 January 2017.
tabling member constituency	Elmet and Rothwell
tabling member printed	Alec Shelbrooke
uin	192106
answer	answer is ministerial correction date of answer 26/11/2018 answer text <p>The government is determined to ensure that everyone who is entitled to the National Minimum and Living Wage (NMW) receives it. Anyone who feels they have not been paid the NMW should contact the Acas helpline on 0300 123 1100 or via the online complaints form at gov.uk. HMRC reviews all complaints that are referred to them.</p><p> </p><p>All businesses, irrespective of size or business sector are responsible for paying the correct minimum wage to their staff. HMRC won’t hesitate to take action to ensure that workers receive what they are legally entitled to.</p><p> </p><p>Most NMW cases are subject to civil (non-criminal) sanctions, the consequences of which include fines of up to 200% of the determined underpayment, and public naming.</p><p> </p><p>In 2016/17, HMRC issued around £4 million in penalties to 821 employers for underpaying NMW to workers, and in 2017/18 issued over £14 million in penalties to 810 employers.</p><p> </p><p>It is not possible to identify all NMW breaches involving the employment of interns, as HMRC does not routinely record the employment characteristics of individual workers who are owed and paid arrears. In most cases, interns would be repaid alongside all other workers and the data recorded as a single entry against the company.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 26/11/2018 14:46:36 answering member 3935 label Biography information for Mel Stride
tabling member	3997 label Biography information for Sir Alec Shelbrooke

1007765

registered interest
date	15/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business: Exports
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many businesses have registered under the Registered Exporter system in the last two years.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	191882
answer	answer is ministerial correction date of answer 20/11/2018 answer text <p>12,321 businesses have been registered under the Registered Exporter system (Rex) since January 2017.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 20/11/2018 15:11:11 answering member 3935 label Biography information for Mel Stride
tabling member	1409 label Biography information for Mr Gregory Campbell