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1130631
star this property registered interest false more like this
star this property date less than 2019-06-06more like thismore than 2019-06-06
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Cash Dispensing: Rural Areas more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the impact of the decline in the number of free-to-use cash machines on rural communities. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL16175 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-06-20more like thismore than 2019-06-20
star this property answer text <p>The Government recognises that widespread free access to cash remains important to the day-to-day lives of many people and businesses in the UK. At Spring Statement 2018, the Treasury launched a Call for Evidence on Cash &amp; Digital Payments. This sought to gather evidence on how changing preferences for cash and digital payments impact on different sectors, regions and demographics. In its response document, the Government reiterated its policy is to safeguard access to cash for those who need it while supporting digital payments.</p><p> </p><p>LINK, the scheme that runs the UK’s ATM network, has committed to maintain the broad geographical coverage of the ATM network in the UK. LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. Furthermore, LINK recently announced new additional premiums to safeguard the presence of free-to-use ATMs in remote and deprived areas.</p><p> </p><p>The Government-established Payment Systems Regulator, which regulates LINK, is closely monitoring developments within ATM provision and has used its powers to hold LINK to account over its commitments.</p><p> </p><p><strong> </strong></p>
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-06-20T11:28:32.62Zmore like thismore than 2019-06-20T11:28:32.62Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1133482
star this property registered interest false more like this
star this property date less than 2019-06-19more like thismore than 2019-06-19
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Financial Services: Equality more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they have taken to ensure that the UK financial sector (1) increases its diversity, and (2) ensures equal pay. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL16517 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-02more like thismore than 2019-07-02
star this property answer text It is the Government’s aspiration to see diversity across the UK economy, and HM Treasury’s Women in Finance Charter reflects our ambition to see an improved gender balance in the financial services industry. So far, over 330 financial services firms have signed the Charter, committing to implement strategic actions to improve their gender balance in senior positions.<p> </p>Regarding wider work to improve diversity in the UK labour market, we are supporting the government commissioned Hampton-Alexander review to push for 33% of all board and senior leadership positions to be held by women by 2020 in the FTSE 350. Government also fully supports the Parker Review, which recommends that FTSE100 and 250 boards should have at least one director of colour by 2021 and 2024, respectively. The Prime Minister also launched the Race at Work Charter and a consultation on mandatory ethnicity pay reporting as part of a package of measures to make the workplace fairer for people from ethnic minority groups. Over 150 employers have signed the Race at Work Charter, including a number of financial services firms.<p> </p>Equal pay for men and women doing the same work, equivalent work or work of equal value, has been a legal requirement since 1970. The Government remains fully committed to the Equal Pay protections in the Equality Act 2010.<p> </p>In 2017, the Government introduced regulations requiring large employers across all sectors, including financial services, to publish the differences in what they pay their male and female staff in average salaries and bonuses annually. The gender pay gap is caused by many factors and does not necessarily mean an employer has breached equal pay laws. Transparency is key to highlighting gender-based differences in pay and enabling employees to hold their employers to account, particularly where equal pay law may have been breached.
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-07-02T16:02:39.73Zmore like thismore than 2019-07-02T16:02:39.73Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1134330
star this property registered interest false more like this
star this property date less than 2019-06-24more like thismore than 2019-06-24
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Cryptocurrencies: Regulation more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans they have to regulate the use of new crypto-currencies created by large technology companies; and what steps they are taking to protect private financial information in that sector. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL16615 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-08more like thismore than 2019-07-08
star this property answer text <p>The Government does not comment on details of the proposed business models of individual companies. However, large technology companies developing cryptoassets clearly raises wider questions for policy and financial regulation. The Government is working with the Bank of England, the Financial Conduct Authority and international counterparts to consider these issues.</p><p> </p><p>More broadly, the Government established the Cryptoassets Taskforce<sup><sup>[1]</sup></sup> to explore the risks and potential benefits of cryptoassets and consider the appropriate response. The Taskforce’s report set out commitments to further consider the regulatory approach to cryptoassets. The Government will consult on its approach to unregulated cryptoassets later this year.</p><p> </p><p>The Government takes the protection and privacy of personal data extremely seriously. All organisations, especially the biggest global tech firms who process private financial data containing personal information, must comply with the GDPR and the UK's Data Protection Act 2018, which poses strict obligations on organisations to ensure that UK citizen's data is stored safely and securely.</p><p> </p><p>[1] Comprised of HM Treasury, the FCA, and the Bank of England</p><p> </p>
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-07-08T13:47:25.253Zmore like thismore than 2019-07-08T13:47:25.253Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1135096
star this property registered interest false more like this
star this property date less than 2019-06-26more like thismore than 2019-06-26
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Inheritance Tax more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans they have to scrap the inheritance tax 40 per cent excess policy above an individual's £325,000 allowance. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL16723 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-09more like thismore than 2019-07-09
star this property answer text <p>Inheritance tax makes an important contribution to the health of public finances and the Government has no plans to abolish it.</p><p> </p><p>The rate of inheritance tax is normally 40% on the value of an estate above a nil rate band of £325,000. Any unused nil rate band may be transferred to a surviving spouse or civil partner, increasing their combined threshold to up to £650,000.</p><p> </p><p>However, the Government recognises that individuals work hard to build up assets with the aim of passing these on to their families. Rising house prices have contributed to more families facing an inheritance tax bill. The Government is addressing this through the phased introduction of the additional £175,000 residence nil rate band. Any unused residence nil rate band may also be transferred to a surviving spouse or civil partner.</p><p> </p><p>Taken together, the combination of the nil rate bands means an individual could pass on up to £500,000 in 2020-21 and the estate of the remaining spouse or civil partner could pass on up to £1 million under certain circumstances in 2020-21. Around 96% of estates are forecast to be able to pass on all their assets without paying any inheritance tax as a result.</p><p> </p><p>In January 2018, the Chancellor of the Exchequer commissioned the Office of Tax Simplification to review the tax. The first report was published in November 2018 and the second report in July 2019. The Government will consider the recommendations.</p>
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-07-09T16:39:20.767Zmore like thismore than 2019-07-09T16:39:20.767Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1136436
star this property registered interest false more like this
star this property date less than 2019-07-02more like thismore than 2019-07-02
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Financial Services more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to invest in infrastructure projects in the UK financial services industry to help address climate change. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL16886 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-09more like thismore than 2019-07-09
star this property answer text <p>On 2<sup>nd</sup> July, the Government launched its Green Finance Strategy with the ambition to align private sector financial flows with clean, environmentally sustainable and resilient growth, and strengthen the competitiveness of our financial sector. The strategy outlines how we will drive the greening of the financial system and help mobilise private sector finance to meet our environmental objectives, including through infrastructure projects in the UK and overseas. We have also worked with the City of London to launch the Green Finance Institute on 2<sup>nd</sup> July.</p> more like this
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-07-09T16:22:07.617Zmore like thismore than 2019-07-09T16:22:07.617Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1137396
star this property registered interest false more like this
star this property date less than 2019-07-08more like thismore than 2019-07-08
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Parcels: VAT more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to ensure more foreign companies sign up to the new parcel tax scheme in preparation for a possible no-deal Brexit. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL17003 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-22more like thismore than 2019-07-22
star this property answer text <p>HMRC’s Import VAT on Parcels online service was launched in February 2019 to allow businesses to prepare for a potential no deal EU exit, and remains open for registrations. HMRC are working with key partners to communicate the potential changes to overseas businesses. While HMRC expect registrations would increase if a no deal exit were confirmed, registration numbers for the online service are not a reliable indicator of overall readiness because there are other ways to pay import VAT on parcels via third parties.</p> more like this
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-07-22T12:55:01.37Zmore like thismore than 2019-07-22T12:55:01.37Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1137398
star this property registered interest false more like this
star this property date less than 2019-07-08more like thismore than 2019-07-08
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Pensions: Doctors more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans they have to revisit the 2016 rule changes to tax relief for medical practitioners, in order to resolve the current staffing crisis. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL17005 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-22more like thismore than 2019-07-22
star this property answer text <p>The Government keeps public sector pay and pensions policy under constant review in the context of the wider public finances.</p><p> </p><p>Pensions tax relief is one of the most expensive reliefs in the personal tax system. In 2017/18 income tax and employer National Insurance Contributions relief cost over £50 billion, with around two-thirds going to higher and additional rate taxpayers.</p><p> </p><p>The tapered annual allowance is therefore focused on the highest-earning savers, to ensure that the benefit they receive is not disproportionate to that of other pension savers. Less than one per cent of pension savers will have to reduce their saving or face an annual allowance charge as a result of the tapered annual allowance.</p><p> </p><p>The Government recognises that some senior clinicians face tax charges owing to the increase in the value of their pension accrual. The tax rules must apply identically to everyone in the same situation, regardless of their employer.</p><p> </p><p>However, the Secretary of State for Health and Social Care has announced plans to consult on proposals for a new flexibility for senior clinicians in the NHS pension scheme via the introduction of a 50:50 option. This option will give senior clinicians in England and Wales more choice in respect of their pension accrual, and therefore better control in relation to any pensions tax charges.</p><p> </p><p><strong> </strong></p><p><strong> </strong></p>
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-07-22T12:55:51.367Zmore like thismore than 2019-07-22T12:55:51.367Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1140039
star this property registered interest false more like this
star this property date less than 2019-07-17more like thismore than 2019-07-17
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Brexit more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans they have to address any economic downturn that may be caused by a no-deal Brexit. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL17274 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-23more like thismore than 2019-07-23
star this property answer text <p>The government’s priority has been to ensure a smooth and orderly withdrawal from the EU with a deal as soon as possible. The government has reached agreement with the EU on an extension until October 31<sup>st</sup> at the latest, with the option to leave earlier as soon as a deal is ratified. However, “No Deal” remains the legal default at the end of the extension period if a deal cannot be reached. As a responsible government we have been preparing for this possibility for almost three years to minimise any disruption in the event of no deal. The Treasury and the Bank of England together have all the tools of fiscal and monetary policy available to us, including the fiscal headroom the Chancellor has held in reserve.</p><p> </p> more like this
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-07-23T11:14:00.283Zmore like thismore than 2019-07-23T11:14:00.283Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this
1141192
star this property registered interest false more like this
star this property date less than 2019-07-22more like thismore than 2019-07-22
star this property answering body
Treasury remove filter
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Infrastructure more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what steps they are taking to implement a national infrastructure strategy to increase business growth after Brexit. more like this
star this property tabling member printed
Lord Taylor of Warwick remove filter
star this property uin HL17375 more like this
star this property answer
answer
unstar this property is ministerial correction false more like this
star this property date of answer less than 2019-07-23more like thismore than 2019-07-23
star this property answer text <p>High quality infrastructure is crucial for supporting business growth.</p><p> </p><p>The Government established the National Infrastructure Commission (NIC) in 2015 to provide impartial, expert advice on major long-term infrastructure challenges.</p><p> </p><p>The NIC published their first National Infrastructure Assessment (NIA) last year, setting out their assessment of the UK’s long-term infrastructure needs.</p><p> </p><p>The NIA made over 60 recommendations, and the Government is planning to respond in full to all of the recommendations through a National Infrastructure Strategy, to be published later this year.</p> more like this
star this property answering member printed Lord Young of Cookham remove filter
star this property question first answered
less than 2019-07-23T16:29:08.073Zmore like thismore than 2019-07-23T16:29:08.073Z
star this property answering member
57
star this property label Biography information for Lord Young of Cookham more like this
star this property tabling member
1796
star this property label Biography information for Lord Taylor of Warwick more like this