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167896

registered interest
date	04/12/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Crowdfunding
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether the Financial Conduct Authority and the Bank of England are looking at modelling what level of institutional investment in peer-to-peer (P2P) collaterised loan obligations, or at what level funds established to buy P2P collaterised loans, would present a systemic risk to the financial system; and if not, whether they have done so or plan to.
tabling member printed	Lord Mendelsohn
uin	HL3420
answer	answer is ministerial correction date of answer 19/12/2014 answer text <p>Her Majesty’s Government have not had any discussions with the Bank of England, the Financial Conduct Authority (FCA) or credit rating agencies about the securitisation of peer-to-peer loans.</p><p> </p><p> </p><p> </p><p>However, since April 2014, the peer-to-peer lending sector has been supervised and regulated by the FCA. The FCA monitors risks in any regulated sector on an ongoing basis.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL3415 HL3416 HL3419 question first answered 19/12/2014 12:44:28 answering member 4262 label Biography information for Lord Deighton
tabling member	4286 label Biography information for Lord Mendelsohn

167897

registered interest
date	04/12/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Rating
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have had talks with the credit rating agencies with a view to restoring the United Kingdom’s AAA credit rating.
tabling member printed	Lord Myners
uin	HL3421
answer	answer is ministerial correction date of answer 19/12/2014 answer text <p>The current European credit rating regulation 1060/2009 stipulates that rating agencies monitor and review credit ratings on an ongoing basis and at least annually. Furthermore, the regulation states that:</p><p> </p><p> </p><p> </p><p><em>&quot;The credit rating agency shall inform the rated entity at least 12 hours before publication of the credit rating and of the principal grounds on which the rating is based in order to give the entity an opportunity to draw attention of the credit rating agency to any factual errors&quot;.</em></p><p> </p><p> </p><p> </p><p>The Government’s long term economic plan has secured the UK’s strong credit rating, which has contributed to lower borrowing costs and helped protect frontline services. In June 2014, Standard and Poor’s (S&amp;P) revised the outlook on their UK AAA rating to stable, from negative. The key driver cited by S&amp;P was <em>‘Amid further progress in consolidating public finances, the UK’s economic recovery is broadening.’ </em></p><p> </p><p> </p><p> </p><p>S&amp;P have assigned the UK sovereign the top triple AAA rating since they first published a UK rating in 1978. Moody’s and Fitch have assigned the UK the second highest rating Aa1 and AA+ respectively, with a stable outlook.</p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 19/12/2014 12:47:32 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

167898

registered interest
date	04/12/2014
answering body	Department of Health
answering dept id	17
answering dept short name	Health
answering dept sort name	Health
hansard heading	IVF
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government, further to the Written Answers by Earl Howe on 3 December 2013 (WA 36) and 3 December 2014 (HL3158), which were the relevant experts or international authorities with whom the Chief Medical Officer "had a lot of discussions"; which international authorities agreed with the Chief Medical Officer’s own assessment that no-one "has come up with a better definition"; how the new definition is being accordingly incorporated into the syllabus for biology students; and what are their views on the ontological propriety of the proposed redefinition of genetic modification on the basis that it "is not that that is what it is".
tabling member printed	Lord Alton of Liverpool
uin	HL3422
answer	answer is ministerial correction date of answer 18/12/2014 answer text <p>As stated in my Written Answer of 3 December 2014 (<em>Official Report</em>, Column WA270), the development of a working definition for genetic modification in humans was undertaken in order to bring clarity to the discussion around mitochondrial donation and is solely intended to be used in this context. There is no universally agreed definition of genetic modification in humans and the working definition devised for the debate on mitochondrial donation did not aim to establish one. The Chief Medical Officer was clear in her evidence to the House of Commons Science and Technology Select Committee on 22 October 2014 that the definition’s purpose is to clarify discussion of this issue.</p><p> </p><p>With regard to the discussions that took place in developing the working definition, in developing its position the Department, in consultation with the Department for Business, Innovation and Skills, also had discussions with the Wellcome Trust and the Nuffield Council on Bioethics.</p><p> </p> answering member printed Earl Howe question first answered 18/12/2014 15:55:41 answering member 2000 label Biography information for Earl Howe
tabling member	738 label Biography information for Lord Alton of Liverpool

167899

registered interest
date	04/12/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is the estimated annual cost to the Exchequer of the proposals to dispense with the 55 per cent charge or inheritance tax on lump sums derived from drawdown or other pensions.
tabling member printed	Lord Beecham
uin	HL3423
answer	answer is ministerial correction date of answer 16/12/2014 answer text <p>This government believes that people who work hard and save all their lives should be able to pass on their pension pot to the next generation.</p><p> </p><p> </p><p> </p><p>From April 2015, individuals will be able to pass on their unused defined contribution pension savings to any nominated beneficiary when they die, instead of paying the 55 per cent charge which currently applies. If the individual dies before age 75, the beneficiary will pay no tax on the funds. If they die after age 75, the beneficiary will pay their marginal rate of Income Tax, or 45 per cent if the funds are taken as a lump sum payment. From April 2016, lump sum payments will also be taxed at the recipient’s marginal rate. Additionally, from April 2015, any future payments from joint life and guaranteed term annuities will be tax free for beneficiaries of any individuals who die under the age of 75.</p><p> </p><p> </p><p> </p><p>The forecast Exchequer cost of these changes is £50 million in 2015-16 rising to £185 million in 2019-20. This has been published on page 46 of the ‘Autumn Statement 2014 policy costings’ document with the relevant table copied below:</p><p> </p><p> </p><p> </p><p> </p><p>Exchequer impact (£m)</p><p> </p><p> </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><td><p>2019-20</p></td></tr><tr><td><p>Defined Benefit Transfers</p></td><td><p>0</p></td><td><p>+95</p></td><td><p>+180</p></td><td><p>+255</p></td><td><p>+325</p></td><td><p>+295</p></td></tr><tr><td><p>Reduced Annual Allowance and Small Pots Rules</p></td><td><p>0</p></td><td><p>+15</p></td><td><p>-50</p></td><td><p>-115</p></td><td><p>-120</p></td><td><p>-120</p></td></tr><tr><td><p>Death Benefits and Joint Life Guaranteed Annuities</p></td><td><p>0</p></td><td><p>-50</p></td><td><p>-155</p></td><td><p>-165</p></td><td><p>-175</p></td><td><p>-185</p></td></tr><tr><td><p>Total</p></td><td><p>0</p></td><td><p>+60</p></td><td><p>-25</p></td><td><p>-25</p></td><td><p>+30</p></td><td><p>-10</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 16/12/2014 16:58:09 answering member 4262 label Biography information for Lord Deighton
tabling member	4181 label Biography information for Lord Beecham

167900

registered interest
date	04/12/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Tax Allowances
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what is the current annual cost to the Exchequer of tax relief at the standard and higher rates of tax respectively on contributions to private pensions.
tabling member printed	Lord Beecham
uin	HL3424
answer	answer is ministerial correction date of answer 19/12/2014 answer text <p>Tax relief on pension contributions is the primary means by which the Government incentivises saving for retirement. The estimated exchequer cost arising from income tax relief on contributions made to private pensions and relief on the investment returns to private pensions in 2012-13 was £34.8bn<sup><sup>[1]</sup></sup>. Income tax on pensions in payment in the same year was £12.0bn, resulting in a net cost of pensions tax relief of £22.8bn in 2012-13.</p><p> </p><p> </p><p>[1] This is published in HMRC National Statistics table PEN6, available here: <a href="https://www.gov.uk/government/statistics/registered-pension-schemes-cost-of-tax-relief" target="_blank">https://www.gov.uk/government/statistics/registered-pension-schemes-cost-of-tax-relief</a> <br> Figures for 2012-13 are the latest available.</p><p> </p> answering member printed Lord Deighton question first answered 19/12/2014 12:39:57 answering member 4262 label Biography information for Lord Deighton
tabling member	4181 label Biography information for Lord Beecham

167901

registered interest
date	04/12/2014
answering body	Home Office
answering dept id	1
answering dept short name	Home Office
answering dept sort name	Home Office
hansard heading	Security Guards
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government when Ministers last met representatives of the private security industry; and what issues were discussed.
tabling member printed	Baroness Smith of Basildon
uin	HL3425
answer	answer is ministerial correction date of answer 11/12/2014 answer text <p>Home Office Ministers and officials have meetings with a wide variety of international partners, as well as organisations and individuals in the public and private sectors, as part of the process of policy development and delivery. Details of ministerial meetings are passed to the Cabinet Office on a quarterly basis and are subsequently published on the Gov.uk website: <a href="http://data.gov.uk/dataset/ministerial-data-home-office" target="_blank">http://data.gov.uk/dataset/ministerial-data-home-office</a></p> answering member printed Lord Bates question first answered 11/12/2014 14:41:49 answering member 1091 label Biography information for Lord Bates
tabling member	4170 label Biography information for Baroness Smith of Basildon

167902

registered interest
date	04/12/2014
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	British Council
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 for joint working between the Department for International Development and the British Council; how much Official Development Assistance has been applied for that purpose in each of the last five years; and how much is expected to be expended in the period covered by the current Spending Review.
tabling member printed	Lord Boateng
uin	HL3426
answer	answer is ministerial correction date of answer 15/12/2014 answer text <p>We primarily engage British Council through contractual relationships. DFID will continue to develop its relationship with the British Council where they have been selected as the lead supplier after fair competition.</p><p> </p><p> </p><p> </p><p>Official Development Assistance has been disbursed through the British Council in recent years as follows:</p><p> </p><p> </p><p> </p><p>2009/10 - £15.7m</p><p> </p><p>2010/11 - £33.4m</p><p> </p><p>2011/12 - £13.1m</p><p> </p><p>2012/13 - £14.5m</p><p> </p><p>2013/14 - £14.5m.</p><p> </p><p> </p><p> </p><p>We expect to disburse £10.8m in the remainder of this spending review.</p><p> </p> answering member printed Baroness Northover question first answered 15/12/2014 15:45:29 answering member 2539 label Biography information for Baroness Northover
tabling member	147 label Biography information for Lord Boateng

167903

registered interest
date	04/12/2014
answering body	Department for International Development
answering dept id	20
answering dept short name	International Development
answering dept sort name	International Development
hansard heading	BBC Media Action
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what was the result of the latest annual review into the grant of £90 million by the Department for International Development to BBC Media Action; whether any evaluation report has suggested that the project's impact and outcomes are unlikely to be achieved; how much of the grant has been spent and where; and what are the BBC's current priorities in relation to the project.
tabling member printed	Lord Laird
uin	HL3427
answer	answer is ministerial correction date of answer 15/12/2014 answer text <p>The latest annual review for DFID’s grant to BBC Media Action, completed in November 2014, found the project results to have exceeded its plan.</p><p> </p><p> </p><p> </p><p>From November 2011 to November 2014 the project has spent £53.3 million in the following countries; Afghanistan, Angola, Bangladesh, Burma, Ethiopia, India, Kenya, Nepal, Nigeria, Pakistan, Palestinian Territories, Sierra Leone, South Sudan, Tanzania and Zambia. Additional activities took place through an Asia regional programme. BBC Media Action’s priority for the global grant continues to be supporting media outputs that contribute to better governance, healthier populations and an increased ability to cope with crises.</p><p> </p> answering member printed Baroness Northover question first answered 15/12/2014 14:05:26 answering member 2539 label Biography information for Baroness Northover
tabling member	2479 label Biography information for Lord Laird