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1714013

registered interest
date	25/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	New Businesses
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to recent data released by S&P Global showing that April had the fastest rise in business activity since last May, what steps they are taking to sustain this momentum and ensure continued economic growth.
tabling member printed	Lord Taylor of Warwick
uin	HL4120
answer	answer is ministerial correction date of answer 01/05/2024 answer text <p>The government is continuing to pursue an ambitious policy agenda to increase sustainable economic growth and productivity across the economy. This includes making full expensing permanent, announcing measures to boost labour supply, backing the UK’s priority growth sectors, and addressing long-term barriers to investment through planning and grid connection reforms.</p><p> </p><p>The IMF forecasts that the UK will have the third fastest cumulative growth in the G7 over the 2024-2029 period and the OBR expects that policies announced in the previous three fiscal events will increase the size of the economy by 0.7% by 2028-29.</p> answering member printed Baroness Vere of Norbiton grouped question UIN HL4056 question first answered 01/05/2024 16:19:41 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1714014

registered interest
date	25/04/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Arts
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what discussions they have had with the EU regarding barriers to trade and exports faced by the creative industries since Brexit; what steps they are taking to address this; and what plans they have to support UK creative businesses in global markets.
tabling member printed	Lord Taylor of Warwick
uin	HL4121
answer	answer is ministerial correction date of answer 10/05/2024 answer text <p>The creative industries have been identified by the Government as one of five priority growth sectors. As set out in the Creative Industries Sector Vision,by 2030 the Government aims to grow our the creative industries by an extra £50 billion Gross Value Added, with a goal to increase creative exports 55% to £78 billion over this period.</p><p>The Government is committed to supporting the creative sector to adapt to requirements for working and touring in the EU. For example, 23 out of 27 EU Member States have clarified arrangements or introduced easements to allow visa and work permit free routes for UK touring performers.</p> answering member printed Lord Johnson of Lainston question first answered 10/05/2024 13:49:26 answering member 4949 label Biography information for Lord Johnson of Lainston
tabling member	1796 label Biography information for Lord Taylor of Warwick

1714015

registered interest
date	25/04/2024
answering body	Department for Science, Innovation and Technology
answering dept id	216
answering dept short name	Science, Innovation and Technology
answering dept sort name	Science, Innovation and Technology
hansard heading	Artificial Intelligence: Competition
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following concerns raised by the Competition and Markets Authority about potential 'over-dependence' on a small number of major tech firms in the AI industry, what steps they are taking (1) to promote competition, and (2) to prevent monopolistic practices, within the AI sector.
tabling member printed	Lord Taylor of Warwick
uin	HL4122
answer	answer is ministerial correction date of answer 10/05/2024 answer text <p>The Government is committed to ensuring that digital markets work well for businesses and consumers. It will be for the CMA in the first instance as the independent regulator to decide how to exercise its powers to address any competition issues in digital markets as they develop.</p><p> </p><p>The Digital Markets, Competition and Consumers Bill will give the CMA new, faster and more effective tools to identify and address competition issues in digital markets, including AI markets. These will apply where it finds firms have substantial and entrenched market power and a position of strategic significance in one or more digital activities. Subject to Parliamentary timings, the Bill is on track to receive Royal Assent in Spring, and we expect the regime will come into force in Autumn this year.</p> answering member printed Viscount Camrose question first answered 10/05/2024 10:05:35 answering member 4939 label Biography information for Viscount Camrose
tabling member	1796 label Biography information for Lord Taylor of Warwick

1713736

registered interest
date	24/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector Debt
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to reduce public sector debt from its current level of 98.3 per cent of GDP.
tabling member printed	Lord Taylor of Warwick
uin	HL4086
answer	answer is ministerial correction date of answer 09/05/2024 answer text <p>The government is committed to sustainable public finances and reducing debt, while cutting taxes and boosting economic growth. This will involve managing public spending responsibly and increasing productivity through the Public Sector Productivity Programme, while maintaining high-quality public services.</p><p> </p><p>The government’s fiscal mandate is for Public Sector Net Debt excluding the Bank of England to fall as a percentage of GDP by the fifth year of the rolling forecast. In March, the independent Office for Budget Responsibility confirmed the government is on track to meet this rule, with debt falling from 93.2% (2027-28) to 92.9% (2028-29). Public sector net debt (“headline debt”) is also forecast to fall from 98.3% of GDP this year, to 94.3% in 2028-29.</p> answering member printed Baroness Vere of Norbiton question first answered 09/05/2024 15:27:06 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1713737

registered interest
date	24/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to support the extension of long-term fixed-rate mortgage options to borrowers.
tabling member printed	Lord Taylor of Warwick
uin	HL4087
answer	answer is ministerial correction date of answer 09/05/2024 answer text <p>The pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene.</p><p> </p><p>However, lenders in the UK already do offer this type of mortgage product, and those looking to take out a long-term fixed rate mortgage are encouraged to shop around and speak to a broker to find the best possible product for them.</p> answering member printed Baroness Vere of Norbiton question first answered 09/05/2024 15:26:45 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1713738

registered interest
date	24/04/2024
answering body	Department for Environment, Food and Rural Affairs
answering dept id	13
answering dept short name	Environment, Food and Rural Affairs
answering dept sort name	Environment, Food and Rural Affairs
hansard heading	Immigration Controls: Borders
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to support small businesses in adapting to additional costs for post-Brexit border checks.
tabling member printed	Lord Taylor of Warwick
uin	HL4088
answer	answer is ministerial correction date of answer 13/05/2024 answer text <p>To support SMEs, Defra has identified and issued guidance on a number of facilitations and mitigations to reduce the burden of sanitary and phytosanitary import requirements using groupage.</p><p> </p><p>The Common User Charge is designed to spread the costs to be recovered across the maximum number of imports. This approach distributes the cost across business of all sizes and sectors and provides a high level of predictability on costs for all importers.</p><p> </p><p>The impact of the Common User Charge on businesses, and especially on small businesses, will be kept under monthly and quarterly reviews, with rates reviewed and updated annually.</p><p> </p> answering member printed Lord Douglas-Miller question first answered 13/05/2024 11:25:20 answering member 5006 label Biography information for Lord Douglas-Miller
tabling member	1796 label Biography information for Lord Taylor of Warwick

1713314

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to address the impact of rising inflation on household budgets while stimulating consumer spending, given the stagnation of retail sales between February and March.
tabling member printed	Lord Taylor of Warwick
uin	HL4055
answer	answer is ministerial correction date of answer 02/05/2024 answer text <p>The government is fully committed to supporting the Bank get inflation back down to the 2% target, including by keeping borrowing under control. Inflation has also come down significantly, to less than half its 2022 peak.</p><p> </p><p>Over the past two years, the government has provided support to help households with the cost of living totalling £96 billion – an average of £3400 per UK household. Further support announced by the government for 2024-25 includes extending the Household Support Fund, cutting National Insurance Contributions (NICs) and raising the National Living Wage (NLW).</p><p> </p><p> </p><p>ONS retail sales growth was flat in March, following growth of 0.1% in February. However, due to a significant rebound in January, retail sales increased by 1.9% on the quarter. This represents the strongest quarterly growth since Q2 2021.</p> answering member printed Baroness Vere of Norbiton question first answered 02/05/2024 11:29:03 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1713315

registered interest
date	23/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following recent remarks from the deputy governor of the Bank of England, Dave Ramsden, that inflation could remain around the two per cent target for the next three years, what steps they are taking to ensure sustainable economic growth in this environment.
tabling member printed	Lord Taylor of Warwick
uin	HL4056
answer	answer is ministerial correction date of answer 01/05/2024 answer text <p>The government is continuing to pursue an ambitious policy agenda to increase sustainable economic growth and productivity across the economy. This includes making full expensing permanent, announcing measures to boost labour supply, backing the UK’s priority growth sectors, and addressing long-term barriers to investment through planning and grid connection reforms.</p><p> </p><p>The IMF forecasts that the UK will have the third fastest cumulative growth in the G7 over the 2024-2029 period and the OBR expects that policies announced in the previous three fiscal events will increase the size of the economy by 0.7% by 2028-29.</p> answering member printed Baroness Vere of Norbiton grouped question UIN HL4120 question first answered 01/05/2024 16:19:41 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1713316

registered interest
date	23/04/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Exports
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following the publication of figures by the Office for National Statistics which show UK services exports grew 63 per cent in real terms between 2010 and 2023, while goods exports grew only seven per cent, what steps they are taking to boost the export of goods.
tabling member printed	Lord Taylor of Warwick
uin	HL4057
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>The Department for Business and Trade is backing British businesses to export by knocking down trade barriers and signing new trade deals.</p><p>In 2022, the Government committed to resolving a ‘hit list’ of priority barriers worth more than £20 billion over five years. Since the start of 2022, we have resolved barriers all over the world estimated to be worth over £15 billion (over a five-year period) to UK businesses.</p><p>Businesses can access the department’s wealth of export support options on great.gov.uk, including trade advisers, Export Champions, the Export Academy, our International Markets network and UK Export Finance.</p> answering member printed Lord Offord of Garvel question first answered 08/05/2024 15:30:44 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1712655

registered interest
date	22/04/2024
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Motor Insurance: Fees and Charges
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following a 43 per cent increase in car insurance prices compared to this time last year, what steps they are taking to address the underlying factors that contribute to those high premiums, such as rising claims costs and inflation.
tabling member printed	Lord Taylor of Warwick
uin	HL4016
answer	answer is ministerial correction date of answer 01/05/2024 answer text <p>Whilst it is the responsibility of individual motor insurers to set their premiums and the terms and conditions of their policies, and the Government does not intervene or seek to control the market, we are engaging directly with the sector at an official and Ministerial level, with HMT Ministers who lead on this issue, to help us to establish if there are potential solutions within our power which will benefit motorists.</p><p> </p><p>The Government is determined that insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority rules.</p><p>The FCA has been clear it will be monitoring firms to make sure they provide products that are fair value, and, where necessary, it will act.</p><p> </p><p> </p><p><strong> </strong></p> answering member printed Lord Davies of Gower question first answered 01/05/2024 15:00:07 answering member 4499 label Biography information for Lord Davies of Gower
tabling member	1796 label Biography information for Lord Taylor of Warwick