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1133482

registered interest
date	19/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Equality
house id	2
legislature	25277 pref label House of Lords
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.
tabling member printed	Lord Taylor of Warwick
uin	HL16517
answer	answer is ministerial correction date of answer 02/07/2019 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. answering member printed Lord Young of Cookham question first answered 02/07/2019 16:02:39 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1131913

registered interest
date	12/06/2019
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Electronic Government
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what steps they are taking to invest in the digital transformation of government services.
tabling member printed	Lord Taylor of Warwick
uin	HL16331
answer	answer is ministerial correction date of answer 20/06/2019 answer text <p>The UK is recognised internationally as a world leader in digital government. The Government Digital Service (GDS) was set up in 2011 with the purpose of digitally transforming government and its services. It leads government’s Digital, Data and Technology (DDaT) function, helping departments build and run services that are digital by default and focused on the needs of citizens.</p><p>Departments have built their digital professionalism and capability and there are now approximately 800 digital services, including applying online for a UK passport, applying for your full or provisional driving licence, checking your state pension, and the voter registration digital service. As an example, over 90% of the Driver and Vehicle Licensing Association’s (DVLA) transactions (over 1 billion in 2017/18) are now completed online. Government continues to update current and create new digital services to benefit citizens in their interactions with government.</p><p>GDS this month published the Government Technology Innovation Strategy which looks at creating the right foundations to use emerging technologies in government. This will help digitally transform government even more by using innovative technology solutions to make government more efficient and save taxpayers’ money. Alongside this, ‘A guide to using artificial intelligence in the public sector’ was published following a review of Artificial Intelligence (AI) in government by GDS and the Office for Artificial Intelligence (OAI).</p><p>The £20m, 3-year GovTech Catalyst Programme has supported central and local government, devolved administrations, and public sector bodies to find innovative solutions to operational service and policy delivery challenges. It provides public sector organisations a safe space to experiment with innovative technologies by providing them with funding, purely for research and development. The Catalyst also encourages the sharing of digital learning and resources, which allows public sector organisations to identify other groups across the UK working on similar problems. The Programme helps government deliver on a key principle of the UK’s Digital Strategy, to improve the digital business sector in the UK, by providing tech companies of all sizes opportunities with the public sector.</p><p>Over 10,000 civil servants have also now been trained by the GDS Academy; new standards have made services across government consistent, accessible and intuitive; and departments have delivered digital services to make essential transactions with citizens easier and more efficient.</p> answering member printed Lord Young of Cookham question first answered 20/06/2019 14:25:42 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1130631

registered interest
date	06/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Rural Areas
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 of the decline in the number of free-to-use cash machines on rural communities.
tabling member printed	Lord Taylor of Warwick
uin	HL16175
answer	answer is ministerial correction date of answer 20/06/2019 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> answering member printed Lord Young of Cookham question first answered 20/06/2019 11:28:32 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1137398

registered interest
date	08/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Doctors
house id	2
legislature	25277 pref label House of Lords
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.
tabling member printed	Lord Taylor of Warwick
uin	HL17005
answer	answer is ministerial correction date of answer 22/07/2019 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> answering member printed Lord Young of Cookham question first answered 22/07/2019 12:55:51 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1134330

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	Cryptocurrencies: Regulation
house id	2
legislature	25277 pref label House of Lords
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.
tabling member printed	Lord Taylor of Warwick
uin	HL16615
answer	answer is ministerial correction date of answer 08/07/2019 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> answering member printed Lord Young of Cookham question first answered 08/07/2019 13:47:25 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1136436

registered interest
date	02/07/2019
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 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.
tabling member printed	Lord Taylor of Warwick
uin	HL16886
answer	answer is ministerial correction date of answer 09/07/2019 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> answering member printed Lord Young of Cookham question first answered 09/07/2019 16:22:07 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1135096

registered interest
date	26/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inheritance Tax
house id	2
legislature	25277 pref label House of Lords
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.
tabling member printed	Lord Taylor of Warwick
uin	HL16723
answer	answer is ministerial correction date of answer 09/07/2019 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> answering member printed Lord Young of Cookham question first answered 09/07/2019 16:39:20 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1133481

registered interest
date	19/06/2019
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Cybercrime
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to make public advice available to prepare for the threat of a category one cyberattack.
tabling member printed	Lord Taylor of Warwick
uin	HL16516
answer	answer is ministerial correction date of answer 27/06/2019 answer text <p>In the event of any major cyber incident, the National Cyber Security Centre will ensure that the right technical advice is issued quickly and directly, and that the public are kept informed. As no two cyber incidents are identical, public communications will always be tailored to the specifics of a cyber attack.</p> answering member printed Lord Young of Cookham question first answered 27/06/2019 11:37:09 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick

1137396

registered interest
date	08/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Parcels: VAT
house id	2
legislature	25277 pref label House of Lords
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.
tabling member printed	Lord Taylor of Warwick
uin	HL17003
answer	answer is ministerial correction date of answer 22/07/2019 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> answering member printed Lord Young of Cookham question first answered 22/07/2019 12:55:01 answering member 57 label Biography information for Lord Young of Cookham
tabling member	1796 label Biography information for Lord Taylor of Warwick