Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

746104

	registered interest
	date	28/06/2017
	answering body	Department for Work and Pensions
	answering dept id	29
	answering dept short name	Work and Pensions
	answering dept sort name	Work and Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	Her Majesty's Government, in the light of the statement in the Green Paper on work and health and disability,  Improving Lives,  published in October 2016, what consideration they have given to allowing the voluntary incorporation of a portion of a severely disabled employee’s Employment and Support Allowance to be offset as part of their pay, in order to help enhance their employability.
	tabling member printed	Lord Vinson
	uin	HL246
	answer	answer is ministerial correction date of answer 12/07/2017 answer text <p>Improving Lives – the Work, Health and Disability Green Paper, published In October 2016, attracted over 6000 responses, including many on how to enhance the employability of ESA recipients. We are currently considering future policy options in this area.</p><p> </p><p>Existing measures to reduce potential costs to employers, and so improve employability, include Access to Work which offers practical advice and funding of up to £42,100 pa for employees’ support costs over and above reasonable adjustments.</p><p> </p><p>Our new ‘Small Employer Offer’ for small and medium-sized enterprises is trialling a £500 payment to employers for mentoring and supporting disabled people employed for over 3 months.</p> answering member printed Baroness Buscombe question first answered 12/07/2017 16:04:35 answering member 3349 label Biography information for Baroness Buscombe
	tabling member	1807 label Biography information for Lord Vinson

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

967561

	registered interest
	date	04/09/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Charitable Donations: Tax Allowances
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is the annual cost to the Exchequer of the tax foregone due to tax relief on charitable donations (1) in the last year, and (2) over the last five years.
	tabling member printed	Lord Vinson
	uin	HL10042
	answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>Tax relief is available on donations to charity by individuals and organisations, and to charities for their activities, including investment income.</p><p>Information about tax relief on charities’ investment income, and on charitable donations by organisations is not readily available.</p><p>Estimates for tax reliefs on charitable donations by individuals are published in “UK charity tax relief statistics”. The table below is an extract from the latest edition.</p><p>Extract from Table 2<strong>:</strong> Estimates for UK charities tax reliefs. Updated June 2018. Restricted to those reliefs for which accurate figures can be estimated</p><p> </p><table><tbody><tr><td><p>£m</p></td><td colspan="2"><p>Reliefs paid to charities</p></td><td colspan="4"><p>Reliefs paid to individuals</p></td></tr><tr><td><p>Tax Year</p></td><td><p>Gift Aid</p></td><td><p>Gift Aid Small Donations Scheme</p></td><td><p>Inheritance Tax</p></td><td><p>Payroll Giving</p></td><td><p>Gifts of shares and property</p></td><td><p>Higher Rate Relief on Gift Aid</p></td></tr><tr><td><p>2013-14</p></td><td><p>1060</p></td><td><p>10</p></td><td><p>660</p></td><td><p>40</p></td><td><p>60</p></td><td><p>410</p></td></tr><tr><td><p>2014-15</p></td><td><p>1210</p></td><td><p>20</p></td><td><p>700</p></td><td><p>40</p></td><td><p>60</p></td><td><p>480</p></td></tr><tr><td><p>2015-16</p></td><td><p>1300</p></td><td><p>30</p></td><td><p>800</p></td><td><p>40</p></td><td><p>70</p></td><td><p>500</p></td></tr><tr><td><p>2016-17</p></td><td><p>1280</p></td><td><p>30</p></td><td><p>840</p></td><td><p>40</p></td><td><p>70</p></td><td><p>490</p></td></tr><tr><td><p>2017-18</p></td><td><p>1270</p></td><td><p>30</p></td><td><p>860</p></td><td><p>40</p></td><td><p>70</p></td><td><p>490</p></td></tr></tbody></table><p> </p><p> </p> answering member printed Lord Bates grouped question UIN HL10043 question first answered 14/09/2018 11:56:13 answering member 1091 label Biography information for Lord Bates
	tabling member	1807 label Biography information for Lord Vinson

967562

	registered interest
	date	04/09/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Charities: Tax Allowances
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is the annual cost to the Exchequer of the tax foregone due to tax relief on charity investment income (1) in the last year, and (2) over the last five years; and what is the breakdown of the total cost over the last five years per taxpayer, per year.
	tabling member printed	Lord Vinson
	uin	HL10043
	answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>Tax relief is available on donations to charity by individuals and organisations, and to charities for their activities, including investment income.</p><p>Information about tax relief on charities’ investment income, and on charitable donations by organisations is not readily available.</p><p>Estimates for tax reliefs on charitable donations by individuals are published in “UK charity tax relief statistics”. The table below is an extract from the latest edition.</p><p>Extract from Table 2<strong>:</strong> Estimates for UK charities tax reliefs. Updated June 2018. Restricted to those reliefs for which accurate figures can be estimated</p><p> </p><table><tbody><tr><td><p>£m</p></td><td colspan="2"><p>Reliefs paid to charities</p></td><td colspan="4"><p>Reliefs paid to individuals</p></td></tr><tr><td><p>Tax Year</p></td><td><p>Gift Aid</p></td><td><p>Gift Aid Small Donations Scheme</p></td><td><p>Inheritance Tax</p></td><td><p>Payroll Giving</p></td><td><p>Gifts of shares and property</p></td><td><p>Higher Rate Relief on Gift Aid</p></td></tr><tr><td><p>2013-14</p></td><td><p>1060</p></td><td><p>10</p></td><td><p>660</p></td><td><p>40</p></td><td><p>60</p></td><td><p>410</p></td></tr><tr><td><p>2014-15</p></td><td><p>1210</p></td><td><p>20</p></td><td><p>700</p></td><td><p>40</p></td><td><p>60</p></td><td><p>480</p></td></tr><tr><td><p>2015-16</p></td><td><p>1300</p></td><td><p>30</p></td><td><p>800</p></td><td><p>40</p></td><td><p>70</p></td><td><p>500</p></td></tr><tr><td><p>2016-17</p></td><td><p>1280</p></td><td><p>30</p></td><td><p>840</p></td><td><p>40</p></td><td><p>70</p></td><td><p>490</p></td></tr><tr><td><p>2017-18</p></td><td><p>1270</p></td><td><p>30</p></td><td><p>860</p></td><td><p>40</p></td><td><p>70</p></td><td><p>490</p></td></tr></tbody></table><p> </p><p> </p> answering member printed Lord Bates grouped question UIN HL10042 question first answered 14/09/2018 11:56:13 answering member 1091 label Biography information for Lord Bates
	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

1134338

	registered interest
	date	24/06/2019
	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 18 June (HL16068), what guidance they provide, if any, to banks and other businesses about ensuring that routine anti-money laundering checks do not cause stress to customers, particularly when those banks or businesses have not been made aware of any change to the circumstances of and have no concerns as to the identity of an existing customer as set out in regulation 27(8) of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 (SI 2017/692), and when those organisations may not be required to conduct such checks.
	tabling member printed	Lord Vinson
	uin	HL16623
	answer	answer is ministerial correction date of answer 08/07/2019 answer text <p>HM Treasury is responsible for the Money Laundering Regulations 2017, which set out the high-level requirements on regulated businesses to combat money laundering. These Regulations are not prescriptive in setting out how customer due diligence (CDD) checks must be carried out, and instead require businesses to take a proportionate approach. Each business will therefore have their own policies based on their assessment of risks.</p><p> </p><p>Specific guidance for banks on applying customer due diligence measures and ongoing monitoring of customers is included in guidance published by the Joint Money Laundering Steering Group. This guidance is approved by HM Treasury, and it highlights that a firm must apply CDD measures at appropriate times to its existing customers on a risk-sensitive basis.</p> answering member printed Lord Young of Cookham question first answered 08/07/2019 13:15:55 answering member 57 label Biography information for Lord Young of Cookham
	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

177964

	registered interest
	date	04/02/2015
	answering body	HM 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 Her Majesty’s Government what is the annual cost (1) per taxpayer, and (2) per household, of servicing the United Kingdom national debt.
	tabling member printed	Lord Vinson
	uin	HL4675
	answer	answer is ministerial correction date of answer 13/02/2015 answer text <p>In 2013 central government debt interest payments were £49.1 billion. Using the relevant household and population numbers the annual cost of servicing the national debt in 2013 was:</p><p> </p><p> </p><p> </p><ol><li><p>£1,841 per household; and</p><p> </p></li><li><p>£766 per person.</p></li></ol><p> </p> answering member printed Lord Deighton question first answered 13/02/2015 15:36:44 answering member 4262 label Biography information for Lord Deighton
	tabling member	1807 label Biography information for Lord Vinson

1020319

	registered interest
	date	05/12/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Shares: Sales
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of (1) the practice whereby shares lent for short selling are sold without the explicit knowledge of the beneficial owner, and (2) whether regulatory authorities are able to ensure that those using this practice comply with relevant legislation.
	tabling member printed	Lord Vinson
	uin	HL12097
	answer	answer is ministerial correction date of answer 19/12/2018 answer text <p>This practice is regulated under the terms of the EU’s Securities Financing Transactions Regulation and the UK Money Markets Code. The European Supervisory Authorities, Financial Conduct Authority and Bank of England are responsible for enforcing the Securities Financing Transactions Regulation.</p><p> </p> answering member printed Lord Bates question first answered 19/12/2018 17:08:21 answering member 1091 label Biography information for Lord Bates
	tabling member	1807 label Biography information for Lord Vinson

1151695

	registered interest
	date	22/10/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Shares: Sales
	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 prevalence of tracker and similar funds lending the shares of beneficial owners for shorting; what regulations are in place to ensure that such funds make share owners sufficiently aware that shares may be lent in this way; whether such funds must seek the permission of beneficial owners before lending their shares for such purposes; and if not, why not.
	tabling member printed	Lord Vinson
	uin	HL332
	answer	answer is ministerial correction date of answer 04/11/2019 answer text <p>The FCA seeks to ensure that regulated firms provide adequate levels of disclosure to investors that invest in financial products, as well as the orderly functioning of these types of investment products.</p><p> </p><p>As part of this, the FCA sets requirements for managers of authorised funds carrying out stock lending, including obligations that they make clear in the fund’s prospectus (the document provided to those considering investing in a fund) if the stocks in the fund they invest in may be lent on to others. However, the FCA does not require fund managers to then seek the permission of fund investors before lending their stock in each individual case. Under FCA rules, managers of authorised funds can only lend the stocks in these funds for the account of and for the benefit of the fund and in the interests of unitholders. The manager must be satisfied that any stock lending is appropriate for generating additional income for the fund at an acceptable degree of risk.</p><p> </p><p>More broadly, the FCA is responsible for enforcing the Short Selling Regulation (SSR), which regulates short selling practices while safeguarding companies and the financial system. It imposes a disclosure regime on those who have reportable net short positions to the Financial Conduct Authority (FCA) and to the public and provides the FCA with powers to suspend short selling or limit transactions when there are significant reductions in the price of certain instruments from the previous day’s closing price. Additionally, the Treasury and FCA both have powers under the Regulation to address adverse events that pose a serious threat to market confidence or financial stability.</p> answering member printed The Earl of Courtown grouped question UIN HL333 question first answered 04/11/2019 13:57:17 answering member 3359 label Biography information for The Earl of Courtown
	tabling member	1807 label Biography information for Lord Vinson