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1129583

	registered interest
	date	04/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Proof of Identity
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government whether all existing banking customers must provide proof of identification to banks to check for possible money laundering; if so, under which regulations this policy was brought in; whether an impact assessment was carried out on the costs to customers, particularly those in rural areas, of any such requirements; and what estimate they have made of the total cost of any such policy.
	tabling member printed	Lord Vinson
	uin	HL16068
	answer	answer is ministerial correction date of answer 18/06/2019 answer text The Money Laundering Regulations 2017 (‘the Regulations’) do not require banks to carry out customer due diligence – including identity checks—on all existing customers. The Regulations instead require banks to take a proportionate approach to applying customer due diligence checks commensurate with the risk of money laundering. The legal requirements on banks to carry out customer diligence for existing customers are set out in Regulations 27(8)(9) and 29(7). The Joint Money Laundering Steering Group’s guidance provides further detail on applying these requirements.<p> </p><p>The impact assessment for the transposition of the 4th EU Money Laundering Directive (which led to the most recent revision of the regulations) estimates the total cost of the changes made, while concluding that industry has difficulty in identifying costs caused by the money laundering regulations. This is particularly the case for customer due diligence as many of these are costs that a prudent business would take on in any case as a matter of commercial practice, to comply with UN or EU sanctions, or to protect themselves and their customers from fraud. The full impact assessment is available on gov.uk.</p> answering member printed Lord Young of Cookham question first answered 18/06/2019 15:20:03 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1807 label Biography information for Lord Vinson

1218141

	registered interest
	date	25/06/2020
	answering body	Department for Business, Energy and Industrial Strategy
	answering dept id	201
	answering dept short name	Business, Energy and Industrial Strategy
	answering dept sort name	Business, Energy and Industrial Strategy
	hansard heading	Nuclear Power: Finance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have to finance new nuclear generation through (1) the use of long-term borrowing, and (2) partnering with the private sector, in order to achieve their net-zero target for greenhouse gas emissions by 2050.
	tabling member printed	Lord Vinson
	uin	HL6184
	answer	answer is ministerial correction date of answer 09/07/2020 answer text <p>We are looking at options for the financing of new nuclear projects. In 2019, we consulted on a Regulated Asset Base as a possible funding model for future nuclear projects. We will respond to the consultation in due course.</p> answering member printed Lord Callanan question first answered 09/07/2020 13:12:20 answering member 4336 label Biography information for Lord Callanan
	tabling member	1807 label Biography information for Lord Vinson

1342085

	registered interest
	date	29/06/2021
	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	Pigs: CJD
	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 lack of proof of a link between pigs being fed food waste and Creutzfeldt-Jakob Disease; and what plans they have to revoke legislation preventing food waste being fed to pigs in order to reduce the volume that ends up in landfill
	tabling member printed	Lord Vinson
	uin	HL1578
	answer	answer is ministerial correction date of answer 13/07/2021 answer text <p>UK legislation on Animal By-Products (ABPs) bans the feeding of all farmed animals with catering waste. This ban was introduced following the foot and mouth disease (FMD) outbreak in the UK in 2001, which is thought to have originated from the illegal feeding of pigs with untreated food waste. The outbreak resulted in the destruction of more than 10 million cattle and sheep and cost the UK economy billions of pounds.</p><p> </p><p>Defra has undertaken studies which show that it might be possible for a range of food waste to be safely fed to livestock but that this is dependent on proper segregation of animal by-products from other material, meaning non-segregated material is an unacceptable disease risk. It is doubtful whether it would be economically viable for potential operators to comply with the controls we would consider necessary for the use of catering waste in feed for pigs.</p><p> </p><p>The UK government has committed to working towards sending zero food waste to landfill by 2030 through its Clean Growth Strategy and Waste and Resources Strategy for England, published in 2018 - <a href="http://http/www.gov.uk/government/publications/resources-and-waste-strategy-for-england" target="_blank">http://www.gov.uk/government/publications/resources-and-waste-strategy-for-england</a>. The Environment Bill requires that food waste must be collected from households at least weekly. It should be sent for recycling or composting, ideally through anaerobic digestion which generates energy and produces fertiliser digestate. We will continue to discuss with industries and other stakeholders how we reduce waste and maximise recycling.</p><p> </p><p>Creutzfeldt-Jakob Disease belongs in the family of fatal brain diseases, Transmissible Spongiform Encephalopathies (TSEs). The family also includes BSE in cattle, scrapie in sheep and goats and Chronic Wasting Disease (CWD) in deer. Scientific research indicates that new variant (nv) CJD is contracted via the consumption of products from cattle infected with BSE, the only TSE known to be transmissible to humans. There is no evidence that pigs and poultry can be affected by TSEs.</p><p> </p><p>Legislation for the prevention and eradication of TSEs prohibits the feeding of protein of animal origin to farmed animals, with a few exceptions (e.g. milk). This is to prevent the transmission of TSEs through feeding. Processed animal protein (PAP) made from pig or poultry material is currently used as fertiliser or is exported but is not sent to landfill.</p> answering member printed Lord Benyon question first answered 13/07/2021 16:50:45 answering member 1547 label Biography information for Lord Benyon
	tabling member	1807 label Biography information for Lord Vinson

1468010

	registered interest
	date	06/06/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	VAT: Electronic Government
	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 likely impact of HM Revenue’s ‘Making Tax Digital’ compulsory VAT scheme on the number of SME business that have (1) ceased trading, or (2) reduced turnover to below the VAT threshold.
	tabling member printed	Lord Vinson
	uin	HL690
	answer	answer is ministerial correction date of answer 16/06/2022 answer text <p>There is no evidence to suggest that businesses have either ceased trading or reduced their turnover to below the VAT threshold due to Making Tax Digital (MTD) for VAT.</p><p>Following the successful introduction of MTD for VAT-registered businesses with taxable turnover above the VAT threshold in April 2019, the Government has extended MTD for VAT to all other VAT-registered businesses from April 2022.</p><p>Independent research shows that businesses using MTD-compliant software for their VAT obligations are realising efficiency benefits and the resulting reduction in errors is leading to additional tax revenue.</p> answering member printed Baroness Penn question first answered 16/06/2022 08:14:01 answering member 4726 label Biography information for Baroness Penn
	tabling member	1807 label Biography information for Lord Vinson

1462933

	registered interest
	date	16/05/2022
	answering body	Attorney General
	answering dept id	88
	answering dept short name	Attorney General
	answering dept sort name	Attorney General
	hansard heading	LIBOR
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Stewart of Dirleton on 6 April (HL7312), what assessment they have made of the judgment of the US Court of Appeals for the Second Circuit in United States V. DB Group Services (UK) Limited (and Deutsche Bank AG) which found that the rigging of Libor interest rates was not against the rules.
	tabling member printed	Lord Vinson
	uin	HL285
	answer	answer is ministerial correction date of answer 25/05/2022 answer text <p>There has been no further assessment made on the judgment of the US Court of Appeal in these cases.</p> answering member printed Lord Stewart of Dirleton question first answered 25/05/2022 10:53:20 answering member 4899 label Biography information for Lord Stewart of Dirleton
	tabling member	1807 label Biography information for Lord Vinson

1245683

	registered interest
	date	21/10/2020
	answering body	Department for Digital, Culture, Media and Sport
	answering dept id	10
	answering dept short name	Digital, Culture, Media and Sport
	answering dept sort name	Digital, Culture, Media and Sport
	hansard heading	BBC: Political Impartiality
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what discussions, if any, they have had with the BBC since the onset of the COVID-19 pandemic about their obligations under the Royal Charter for the continuance of the British Broadcasting Corporation, presented to Parliament in December 2016, “to provide impartial news and information to help people understand and engage with the world around them”.
	tabling member printed	Lord Vinson
	uin	HL9449
	answer	answer is ministerial correction date of answer 03/11/2020 answer text <p>The government meets with the BBC on regular occasions to discuss a wide range of issues. When speaking to Tim Davie to congratulate him on his appointment as the new Director General of the BBC, the Secretary of State welcomed Tim Davie’s commitment to impartiality at the BBC. In an age of fake news and self reinforcing algorithms, the need for genuine impartiality is greater than ever.</p><p><strong> </strong></p><p>In April the BBC announced a wide-ranging package of measures to help keep the nation informed, educated, and entertained through these unprecedented times. These new measures included daily and weekly coronavirus updates, supplied across television, radio and online platforms.</p><p><strong> </strong></p><p>The BBC is operationally and editorially independent of government, and it is for the BBC Board to ensure that all of the BBC’s output meets the highest standards the public expects. Ofcom is the independent regulator of the BBC, and is responsible for holding the BBC to account in this regard.</p><p> </p> answering member printed Baroness Barran question first answered 03/11/2020 12:05:47 answering member 4703 label Biography information for Baroness Barran
	tabling member	1807 label Biography information for Lord Vinson

1288377

	registered interest
	date	22/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Exchange Rates
	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 that a rapid and sustained rise in the value of the Pound could have on the UK’s economic recovery; and what assessment they have made of the need for intervention by the Bank of England in such cases.
	tabling member printed	Lord Vinson
	uin	HL13529
	answer	answer is ministerial correction date of answer 08/03/2021 answer text <p>The UK does not have an exchange rate target and the government does not have a desired level for sterling – the rate is set by the market.</p><p> </p><p>Currency markets move up and down and it would not be appropriate for the Treasury to speculate on the impact of currency moves on the real economy. Any impact would necessarily adjust over time and be sensitive to the broader economic and financial context. The independent Monetary Policy Committee of the Bank of England has responsibility for monetary policy. Its primary objective, set out in law, is to maintain price stability, defined as a symmetric inflation target of 2 per cent, as measured by the twelve month increase in the Consumer Prices Index. The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, so the Government does not comment on the conduct or effectiveness of monetary policy.</p><p> </p><p>The pound currently sits 12% and 10% below the 10-year average exchange rate against the dollar and euro respectively.</p> answering member printed Lord Agnew of Oulton question first answered 08/03/2021 15:50:32 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	1807 label Biography information for Lord Vinson

1453880

	registered interest
	date	23/03/2022
	answering body	Attorney General
	answering dept id	88
	answering dept short name	Attorney General
	answering dept sort name	Attorney General
	hansard heading	Financial Services: Misconduct
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to a US appeals court overturning the conviction on 28 January of two Deutsche Bank traders accused of manipulating Libor rates, what plans, if any, they have to review the processes around investigating such offences in the UK.
	tabling member printed	Lord Vinson
	uin	HL7312
	answer	answer is ministerial correction date of answer 06/04/2022 answer text <p>The Serious Fraud Office (SFO) is a specialist prosecuting authority tackling the top level of serious or complex fraud, bribery, and corruption.</p><p> </p><p>In 2012, the SFO commenced investigations into Libor manipulation which resulted in nine individuals – all holding significant positions in their respective banks – either pleading guilty or found guilty by a jury.</p><p> </p><p>Many of these convictions have been reviewed by the Court of Appeal and none of them have been overturned.</p> answering member printed Lord Stewart of Dirleton question first answered 06/04/2022 12:25:21 answering member 4899 label Biography information for Lord Stewart of Dirleton
	tabling member	1807 label Biography information for Lord Vinson

1452019

	registered interest
	date	16/03/2022
	answering body	The Senior Deputy Speaker
	answering dept id	204
	answering dept short name
	answering dept sort name	Senior Deputy Speaker (HoL)
	hansard heading	National Holocaust Memorial Centre and Learning Service: Construction
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask the Senior Deputy Speaker what assessment he has made of the risk of damage to the Victoria Tower from (1) the excavations, and (2) the vibrations from heavy piling work, required for the development of the Holocaust Memorial and Learning Centre at Victoria Tower Gardens.
	tabling member printed	Lord Vinson
	uin	HL7032
	answer	answer is ministerial correction date of answer 30/03/2022 answer text <p>The Senior Deputy Speaker has asked me, as Chair of the Services Committee, to respond on his behalf.</p><p>The full assessment of risks to the Parliamentary Estate, including the Victoria Tower, from the construction of the Holocaust Memorial can only be made once detailed design proposals are available to review.</p><p>Different construction and excavation plans will have different impacts and risks. We plan to install vibration monitors when and where appropriate.</p><p>It is expected that the Holocaust Memorial project team will engage with the House as a key stakeholder throughout the detailed design stage.</p> answering member printed Lord Touhig question first answered 30/03/2022 13:15:50 answering member 542 label Biography information for Lord Touhig
	tabling member	1807 label Biography information for Lord Vinson

1139588

	registered interest
	date	16/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money Laundering
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government, further to the Written Answer by Lord Young of Cookham on 8 July (HL16623), whether the requirement for business to “take a proportionate approach” and create “their own policies based on their assessment of risk” means that customer due diligence checks by businesses and banks for existing customers who have not given any cause for concern are optional.
	tabling member printed	Lord Vinson
	uin	HL17235
	answer	answer is ministerial correction date of answer 23/07/2019 answer text <p>The Money Laundering Regulations 2017 are clear that all relevant persons (such as banks) must apply customer due diligence (CDD) measures if the person establishes a business relationship (regulation 27). Whilst CDD measures include conducting ongoing monitoring of a business relationship, as outlined in my previous answer, the extent of the measures taken must reflect the risk assessment carried out by the relevant person under regulation 18(1) and its assessment of the level of risk arising in any particular case. Therefore, if a customer is deemed low risk, the extent of ongoing CDD measures would be tailored to that risk assessment and minimum monitoring would be expected.</p> answering member printed Lord Young of Cookham question first answered 23/07/2019 11:15:00 answering member 57 label Biography information for Lord Young of Cookham
	tabling member	1807 label Biography information for Lord Vinson