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1688818

registered interest
date	12/02/2024
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	Trade Agreements: India
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to ensure that the potential trade agreement with India (1) promotes fair and balanced terms, and (2) contains safeguards that protect the interest of the economy.
tabling member printed	Lord Taylor of Warwick
uin	HL2411
answer	answer is ministerial correction date of answer 26/02/2024 answer text <p>We are working hard on a deal with India that would boost our current trading relationship, already worth over £38 billion, helping businesses and communities across the UK.</p><p> </p><p>We remain clear that we will only sign when we have a deal that is fair, reciprocal, and ultimately in the best interests of the British people and the economy.</p><p> </p><p>We ensure that all trade agreements maintain our ability to apply trade remedies, including a global safeguard, under the WTO framework to protect UK industries.</p> answering member printed Lord Offord of Garvel question first answered 26/02/2024 17:29:40 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688819

registered interest
date	12/02/2024
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: Copyright
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to balance the interests of artificial intelligence  (AI) companies with the rights holders in the development of policies and regulations related to AI and copyright laws.
tabling member printed	Lord Taylor of Warwick
uin	HL2412
answer	answer is ministerial correction date of answer 26/02/2024 answer text <p>The Government is engaging with the AI and rights holder sectors to develop an approach on AI and copyright that allows both sectors to grow together. We want to work closely with right holders and AI developers to deliver this. Any approach will need to be underpinned by trust and transparency between parties, with greater transparency from AI developers about use of copyrighted material to train AI models and the attribution of outputs having an important role to play. The Government will soon set out further proposals on the way forward.</p> answering member printed Viscount Camrose question first answered 26/02/2024 12:21:06 answering member 4939 label Biography information for Viscount Camrose
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688820

registered interest
date	12/02/2024
answering body	Department for Transport
answering dept id	27
answering dept short name	Transport
answering dept sort name	Transport
hansard heading	Electric Vehicles: Disinformation and Sales
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to address any misinformation surrounding electric vehicles; and what consideration they have given to reintroducing incentives for purchasing electric cars.
tabling member printed	Lord Taylor of Warwick
uin	HL2413
answer	answer is ministerial correction date of answer 26/02/2024 answer text <p>As committed in the Plan for Drivers, the Government has published factual information on electric vehicle (EVs) and EV charging infrastructure, to address misinformation surrounding EVs.</p><p> </p><p>Due to the success of the Plug-in Car Grant in driving the growth of the EV market, the Government is now targeting its incentives toward charging infrastructure and grants for harder to transition vehicles. In June 2022, the Government published a public evaluation report, highlighting that while the plug-in car grant was vital in building the early market for EVs, it had since been having less of an effect on demand.</p><p> </p><p>The Government continues to provide tax incentives to encourage the uptake of EVs. EVs currently pay zero rates of VED and from 2025, they will continue to have preferential first year rates in comparison to the most polluting vehicles. Favourable rates of company car tax for EVs have been confirmed out to April 2028.</p> answering member printed Lord Davies of Gower question first answered 26/02/2024 12:31:30 answering member 4499 label Biography information for Lord Davies of Gower
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688745

registered interest
date	08/02/2024
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 assessment they have made of the role of reduced mortgage rates in the recent increase in house prices.
tabling member printed	Lord Taylor of Warwick
uin	HL2351
answer	answer is ministerial correction date of answer 21/02/2024 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>The pricing and availability of mortgages is ultimately a commercial decision for lenders, in which the Government does not intervene. But our plan to bring inflation down is working. Average offered mortgage rates on 2-year and 5-year fixed rates have 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. In November 2023 the average house price in the UK was assessed to be £285,000. That leaves average UK house prices 24% higher than their average level in 2019.</p><p> </p><p>The Government continues to monitor developments in the housing market closely and consider the implications for its policies.</p> answering member printed Baroness Vere of Norbiton question first answered 21/02/2024 17:03:57 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688746

registered interest
date	08/02/2024
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
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to introduce binding requirements for artificial intelligence.
tabling member printed	Lord Taylor of Warwick
uin	HL2352
answer	answer is ministerial correction date of answer 22/02/2024 answer text <p>Regulators are already using their existing remits to implement the AI principles. In parallel, we are reviewing their powers and remits to ensure they are fully equipped to address AI risks and opportunities in their domains.</p><p> </p><p>However, in our WP response we lay out a pro-innovation case for considering targeted binding requirements on organisations developing highly capable general-purpose AI systems, to ensure they are accountable for making these technologies sufficiently safe.</p><p> </p><p>Legislation should only be introduced when understanding of risks has matured, and there is clear evidence these risks cannot be effectively mitigated using voluntary measures or existing legal powers.</p> answering member printed Viscount Camrose question first answered 22/02/2024 12:21:56 answering member 4939 label Biography information for Viscount Camrose
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688747

registered interest
date	08/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following the revision of the rules agreed by Brussels on derivatives trading, what assessment they have made on the impact this will have on the UK's financial services market.
tabling member printed	Lord Taylor of Warwick
uin	HL2353
answer	answer is ministerial correction date of answer 21/02/2024 answer text <p>The UK has one of the world’s most robust regulatory regimes for central counterparties, and the government has taken forward work to further strengthen that regime, given our commitment to high regulatory standards.</p><p> </p><p>It is an international norm for jurisdictions to rely on each other’s market infrastructure. The government therefore sees no reason of substance why the UK cannot or should not continue to provide clearing services for countries in the EU and around the world.</p> answering member printed Baroness Vere of Norbiton question first answered 21/02/2024 17:08:01 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688340

registered interest
date	07/02/2024
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Environment Protection: Climate Change
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking (1) to ensure that climate policies remain effective in driving emission reductions, and (2) to promote investment into renewable energy.
tabling member printed	Lord Taylor of Warwick
uin	HL2310
answer	answer is ministerial correction date of answer 16/02/2024 answer text <p>The UK has halved its emissions, ahead of every other major economy. The transitions set out in the Net Zero Strategy for every sector of the UK economy keep it on track for Carbon Budgets 4, 5 and 6, the 2030 Nationally Determined Contribution, and net zero by 2050.</p><p> </p><p>The Government has consistently seized the opportunity to attract investment in renewables, with around £120 billion of new investment since 2010 alongside around £80 billion of UK levy funded support. For example, it continues to support new renewable deployment through the Contracts for Difference Scheme, which now runs on an annual basis.</p> answering member printed Lord Callanan question first answered 16/02/2024 11:54:54 answering member 4336 label Biography information for Lord Callanan
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688341

registered interest
date	07/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation
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 (1) current consumer spending, and (2) the declining inflation, on the economy.
tabling member printed	Lord Taylor of Warwick
uin	HL2311
answer	answer is ministerial correction date of answer 21/02/2024 answer text <p>Household consumption is the largest component of expenditure in the economy, accounting for around 60% of GDP. In Q3 2023, household consumption was 0.8% higher than in the same quarter of 2022, while consumer confidence reached a two-year high in January 2024. In the Office for Budget Responsibility’s (OBR) November 2023 forecast, consumption was forecast to grow by 0.5% in 2024.</p><p> </p><p>Inflation has more than halved, but it remains a challenge. Inflation reduces real incomes, creates uncertainty, and threatens our growth outlook so it’s essential that the government continues with its efforts to drive it down and not fuel it further.</p><p> </p><p>The OBR are the government’s official forecaster. They will update their economy forecast, including an assessment of changes in consumption and inflation, on 6 March.</p> answering member printed Baroness Vere of Norbiton question first answered 21/02/2024 12:02:28 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688064

registered interest
date	06/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following a request from the Northern Ireland Executive for increased funding from Britain, what steps they are taking, if any, to (1) review their current funding offer, and (2) negotiate a new offer.
tabling member printed	Lord Taylor of Warwick
uin	HL2263
answer	answer is ministerial correction date of answer 19/02/2024 answer text <p>The UK Government are providing the newly restored Northern Ireland Executive with a financial package worth over £3.3 billion to support a restored Executive with the immediate and unique challenges facing the people of Northern Ireland, and to provide the necessary tools to deliver long-term sustainability.</p><p> </p><p>As committed to in the financial package, we will engage with the Northern Ireland Executive on a long-term fiscal framework for Northern Ireland.</p> answering member printed Baroness Vere of Norbiton question first answered 19/02/2024 16:22:09 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1688065

registered interest
date	06/02/2024
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 assessment they have made of the impact of the recent fall in mortgage rates on the wider UK economy.
tabling member printed	Lord Taylor of Warwick
uin	HL2264
answer	answer is ministerial correction date of answer 19/02/2024 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 get inflation back down to the 2% target, including by keeping borrowing under control.</p><p> </p><p>The pricing and availability of mortgages is ultimately a commercial decision for lenders, in which the Government does not intervene. But our plan to bring inflation down is working. Average offered mortgage rates on 2-year and 5-year fixed rates have also fallen from their peak in Summer 2023.</p><p> </p><p>The Bank of England has outlined some of the links between interest rates, housing markets and wider economic activity in its November 2023 and February 2024 Monetary Policy Reports.</p><p><strong> </strong></p> answering member printed Baroness Vere of Norbiton question first answered 19/02/2024 16:21:40 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick