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1685215

registered interest
date	25/01/2024
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	Piracy: Red Sea
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 manufacturing sector in the light of increased inflationary pressure as a result of supply disruptions in the Red Sea.
tabling member printed	Lord Taylor of Warwick
uin	HL1945
answer	answer is ministerial correction date of answer 07/02/2024 answer text <p>The Department is monitoring the situation closely, engaging with businesses, stakeholders and across government to identify and mitigate supply chain issues.</p><p> </p><p>In November 2023 my department published our Advanced Manufacturing Plan which included measures to support the resilience of the UK’s manufacturing supply chain. More recently we published our Critical Import and Supply Chain Strategy, which will help build secure and reliable supply chains vital to the UK economy – including in advanced manufacturing. The Advanced Manufacturing Plan and our Critical Import and Supply Chain Strategy also build on our semiconductor, battery and critical minerals strategies.</p> answering member printed Lord Johnson of Lainston question first answered 07/02/2024 13:19:14 answering member 4949 label Biography information for Lord Johnson of Lainston
tabling member	1796 label Biography information for Lord Taylor of Warwick

1684991

registered interest
date	24/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the feasibility of cutting taxes in the upcoming budget, further to the report, Public sector finances, UK: December 2023, published by the Office for National Statistics on 23 January, and having regard to the overall stability of the economy.
tabling member printed	Lord Taylor of Warwick
uin	HL1902
answer	answer is ministerial correction date of answer 01/02/2024 answer text <p>The Government is committed to sustainable public finances and has taken responsible decisions to keep debt falling and borrowing at a sustainable level.</p>Autumn Statement 2023 confirmed that inflation has been halved and underlying debt is forecast to fall. The Chancellor is now delivering on his commitment to cut taxes – making full expensing permanent so businesses can invest for less. In addition, the Chancellor’s reforms to NICs will cut taxes for 29 million working people. These reforms will grow the economy, and make the tax system simpler for businesses and individuals.<p> </p>The Chancellor announced in December that he has commissioned the Office for Budget Responsibility to prepare an updated economic and fiscal forecast to be presented to Parliament alongside his Spring Budget on 6 March 2024.<p><strong> </strong></p> answering member printed Baroness Vere of Norbiton question first answered 01/02/2024 16:04:34 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1684993

registered interest
date	24/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inflation: Economic Situation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to mitigate the potential negative impact of the United Kingdom’s current inflation rates on the economy.
tabling member printed	Lord Taylor of Warwick
uin	HL1904
answer	answer is ministerial correction date of answer 07/02/2024 answer text <p>The government has delivered on the Prime Minister’s pledge to halve inflation, which is now at 4.0%, and the OBR expect inflation to return to target in 2025.</p><p> </p><p>High inflation holds back growth, which is why alongside remaining steadfast in support for the independent Monetary Policy Committee of the Bank of England, as it acts to return inflation sustainably to the 2% target, the government has taken tough decisions to keep borrowing under control and introduced ambitious supply-side measures to support non-inflationary growth, including delivering full expensing and boosting the labour supply.</p><p> </p><p>Over the last two years, the Government has provided one of the largest support packages in Europe. Taken together, total support over 2022-25 to help households with the high cost of living will be £104 billion – an average of £3,700 per UK household. This has helped to protect households, and the economy, from the impact of high inflation.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 07/02/2024 12:16:05 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1684649

registered interest
date	23/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the long-term impact of their proposed 99 per cent mortgage scheme on (1) the housing market, and (2) borrowers.
tabling member printed	Lord Taylor of Warwick
uin	HL1880
answer	answer is ministerial correction date of answer 06/02/2024 answer text <p>The Government does not comment on theoretical schemes but continues to keep policy under review. The Government remains committed to supporting people of all incomes and at all stages of life in order to make the aspiration of home ownership a reality for as many households as possible.</p><p> </p><p>The Mortgage Guarantee Scheme – launched in April 2021 – continues to support homebuyers and movers with deposits as small as 5%. As of June 2023, the scheme has directly helped over 39,000 households to buy their homes, 86% of which have been first-time buyers.</p> answering member printed Baroness Vere of Norbiton question first answered 06/02/2024 12:28:56 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1684650

registered interest
date	23/01/2024
answering body	Department for Levelling Up, Housing and Communities
answering dept id	211
answering dept short name	Levelling Up, Housing and Communities
answering dept sort name	Levelling Up, Housing and Communities
hansard heading	Housing: Construction
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to their plan to build 300,000 new homes a year, what steps they are taking to achieve this in 2024.
tabling member printed	Lord Taylor of Warwick
uin	HL1881
answer	answer is ministerial correction date of answer 06/02/2024 answer text <p>The Government remains committed to our ambition of delivering 300,000 homes per year and the four highest rates of net additional housing supply in 30 years have all come since 2018. The National Planning Policy Framework (published 19 December 2023) is clear that a core purpose of the planning system is planning for the homes and other development that our communities need.</p><p>With both the Levelling Up and Regeneration Act and the new Framework now in place, alongside the additional resources for planning departments the Government has recently announced, our planning reforms will accelerate the delivery of new homes.</p><p>The changes to the Framework create clear incentives for authorities to get their local plans in place. We remain committed to a plan-led system and national planning policy expects local planning authorities to make sufficient provision for housing and to identify the sites to deliver homes to meet the needs of their communities.</p><p>If Local authorities are not making sufficient progress, the Secretary of State will consider using his powers of intervention to ensure timetables and plans are put in place.</p> answering member printed Baroness Scott of Bybrook question first answered 06/02/2024 13:18:45 answering member 4553 label Biography information for Baroness Scott of Bybrook
tabling member	1796 label Biography information for Lord Taylor of Warwick

1683965

registered interest
date	22/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Rented Housing: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the impact of current tax policy for small-scale lettings.
tabling member printed	Lord Taylor of Warwick
uin	HL1826
answer	answer is ministerial correction date of answer 30/01/2024 answer text <p>Property income is subject to income tax. All landlords can access the property allowance, which provides a tax exemption of up to £1,000 a year for individuals with income from land or property.</p><p> </p><p>The Government has nearly doubled the income tax personal allowance since 2010 (30% higher in real terms), ensuring some of the lowest earners do not pay income tax. Thanks to the personal allowance, around 30 percent of individuals do not pay tax.</p><p> </p><p>As with all aspects of the tax system, the Government keeps the tax treatment of property income under review and any decisions on future changes will be taken by the Chancellor in the context of wider public finances.</p> answering member printed Baroness Vere of Norbiton question first answered 30/01/2024 14:32:53 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1683966

registered interest
date	22/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	First Time Buyers
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, what assessment they have made of the impact of current (1) mortgage interest rates, and (2) house prices, on first-time buyers.
tabling member printed	Lord Taylor of Warwick
uin	HL1827
answer	answer is ministerial correction date of answer 05/02/2024 answer text <p>The path to lower interest rates is through low inflation, and the government is fully committed to supporting the Bank of England to get inflation back down to the 2% target, including by keeping borrowing under control.</p><p> </p><p>While the pricing and availability of mortgages is ultimately a commercial decision for lenders in which the Government does not intervene, our plan is working, and the average offered mortgage rates on 2-year and 5-year fixed rates have now fallen from their peak in Summer 2023.</p><p> </p><p>The most comprehensive measure of average house prices in the UK is published by the Office for National Statistics. The latest release is for November 2023, when the average house price in the UK was assessed to be £285,000.</p><p> </p><p>Importantly, the Government remains committed to making the aspiration of homeownership a reality for as many households as possible, and we operate a range of schemes that aim to increase the supply of low-deposit mortgages for credit-worthy households and stimulate economic growth. The Government also helps first-time buyers to save for a deposit through the Lifetime ISA and Help to Buy: ISA.</p><p> </p><p>Over 873,000 households have been helped to purchase a home since spring 2010 through government-backed schemes.</p> answering member printed Baroness Vere of Norbiton question first answered 05/02/2024 14:17:31 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1683575

registered interest
date	18/01/2024
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Cybersecurity
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to reports that spending on overseas cyber security programmes doubled last year, what assessment they have made of the impact of that increased spending on the cyber safety of (1) citizens, and (2) businesses.
tabling member printed	Lord Taylor of Warwick
uin	HL1761
answer	answer is ministerial correction date of answer 01/02/2024 answer text <p>Programming on cyber security plays an important role in protecting commercial opportunities and sustaining UK competitiveness in a key growth sector as well as helping organisations and citizens better manage cyber risks. The Financial Year 2022/23 Annual Report on the Conflict, Stability and Security Fund highlighted increased spending and the transfer of a wide range of skills overseas to support UK cyber security objectives. This included public awareness campaigns and training with national Computer Security Incident Response Teams, ensuring critical assets overseas are better protected from cyber-attacks. As a result, UK Government-funded projects have led to the arrest of cyber criminals across Africa, improved threat intelligence sharing in the Indo Pacific, and supported the implementation of a new national Cyber strategy in Georgia.</p> answering member printed Baroness Neville-Rolfe question first answered 01/02/2024 17:20:45 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	1796 label Biography information for Lord Taylor of Warwick

1683576

registered interest
date	18/01/2024
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	Imports: Internet
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to their policy paper Critical Imports and Supply Chains Strategy, published on 17 January, what steps they are taking to establish the new online portal for businesses to report disruption affecting their imports; and what assessment they have made of the impact this will have on communication and coordination in relation to supply chain issues.
tabling member printed	Lord Taylor of Warwick
uin	HL1762
answer	answer is ministerial correction date of answer 30/01/2024 answer text <p>The Critical Imports and Supply Chains Strategy includes several actions to make it easier for businesses to share information on difficulties or disruptions they face importing critical goods. These include creating a new import barrier reporting mechanism and a new business/government Critical Imports Council. The Government is now working to establish both of these and we are confident they will both increase our understanding of the challenges businesses face and enhance business and government collaboration to tackle the issues and strengthen our critical supply chains.</p> answering member printed Lord Johnson of Lainston question first answered 30/01/2024 10:50:52 answering member 4949 label Biography information for Lord Johnson of Lainston
tabling member	1796 label Biography information for Lord Taylor of Warwick

1683577

registered interest
date	18/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Property: Sales
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the impact of increased interest rates in the property market on (1) homeowners, (2) prospective buyers, and (3) the wider economy.
tabling member printed	Lord Taylor of Warwick
uin	HL1763
answer	answer is ministerial correction date of answer 31/01/2024 answer text <p>The path to lower interest rates is through low inflation, and the government is fully committed to supporting the Bank of England to get inflation back down to the 2% target, including by keeping borrowing under control.</p><p> </p><p>While the pricing and availability of mortgages is ultimately a commercial decision for lenders in which the Government does not intervene, our plan is working, and the average offered mortgage rates on 2-year and 5-year fixed rates have now fallen from their peak in Summer 2023.</p><p> </p><p>Importantly, the Government remains committed to making the aspiration of homeownership a reality for as many households as possible.</p><p> </p><p>We operate a range of schemes that aim to increase the supply of low-deposit mortgages for credit-worthy households, including first-time buyers, increase the availability of new housing, and stimulate economic growth. These include the Mortgage Guarantee Scheme, which is open until the end of June 2025, as well as First Homes and Shared Ownership through the Affordable Homes Programme. The Government also helps first-time buyers to save for a deposit through the Lifetime ISA and Help to Buy: ISA.</p><p> </p><p>Over 873,000 households have been helped to purchase a home since spring 2010 through government-backed schemes.</p> answering member printed Baroness Vere of Norbiton question first answered 31/01/2024 13:33:21 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick