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      ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141516/answer", "answerText" : {"_value" : "<p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business\u2019s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.<\/p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.<\/p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK\u2019s ranking in the World Bank\u2019s annual \u201cDoing Business\u201d report.<\/p><p>Consistent with the Government\u2019s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.<\/p>"}
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      ], "questionText" : "To ask Her Majesty's Government what assessment they have made of the impact that the proposal to make HMRC a secondary preferential creditor in insolvencies may have on business rescue support in the UK from April 2020.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
      , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1567", "label" : {"_value" : "Biography information for Baroness Burt of Solihull"}
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    , {"_about" : "http://data.parliament.uk/resources/1141517", "AnsweringBody" : [{"_value" : "Treasury"}
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      ], "questionText" : "To ask Her Majesty's Government what assessment they have made of the impact that their proposal to make HMRC a secondary preferential creditor in insolvencies will have on the UK\u2019s ranking in the World Bank\u2019s annual \"Doing Business\" report.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
      , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1567", "label" : {"_value" : "Biography information for Baroness Burt of Solihull"}
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    , {"_about" : "http://data.parliament.uk/resources/1141518", "AnsweringBody" : [{"_value" : "Treasury"}
      ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141518/answer", "answerText" : {"_value" : "<p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business\u2019s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.<\/p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.<\/p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK\u2019s ranking in the World Bank\u2019s annual \u201cDoing Business\u201d report.<\/p><p>Consistent with the Government\u2019s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.<\/p>"}
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      , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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      ], "questionText" : "To ask Her Majesty's Government why HM Treasury has decided to not introduce a cap on the age of tax debts which will be eligible for secondary preferential status in insolvencies from April 2020; and what assessment they have made of the impact of this decision on the costs of insolvency procedures and business lending.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
      , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1567", "label" : {"_value" : "Biography information for Baroness Burt of Solihull"}
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    , {"_about" : "http://data.parliament.uk/resources/1141519", "AnsweringBody" : [{"_value" : "Treasury"}
      ], "answer" : {"_about" : "http://data.parliament.uk/resources/1141519/answer", "answerText" : {"_value" : "<p>This reform is designed to ensure that when a business becomes insolvent, more of the taxes paid in good faith by that business\u2019s employees and customers will go to fund public services as intended, rather than being distributed to other creditors such as financial institutions.<\/p><p>This measure does not include a cap on the age of tax debts which will be eligible for secondary preferential status, nor an exemption for existing lending. Either proposal would introduce potential distortions into the lending market which the Government does not consider to be either fair or proportionate.<\/p><p>The Government does not expect this reform to have a significant impact on access to finance, the cost of borrowing, business rescue support in the UK or the UK\u2019s ranking in the World Bank\u2019s annual \u201cDoing Business\u201d report.<\/p><p>Consistent with the Government\u2019s impact assessment, the independent Office for Budget Responsibility (OBR) did not make any adjustments to their economic forecast in response to this measure.<\/p>"}
        , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
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      , "answeringDeptId" : {"_value" : "14"}
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      , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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      ], "questionText" : "To ask Her Majesty's Government why HM Treasury has decided that existing lending will not be exempted from their policy of making HMRC a secondary preferential creditor in insolvencies; and what assessment they have made of the impact of this decision on the continued availability of existing business lending.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
      , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1567", "label" : {"_value" : "Biography information for Baroness Burt of Solihull"}
      }
      , "tablingMemberPrinted" : [{"_value" : "Baroness Burt of Solihull"}
      ], "uin" : "HL17387"}
    , {"_about" : "http://data.parliament.uk/resources/1126305", "AnsweringBody" : [{"_value" : "Treasury"}
      ], "answer" : {"_about" : "http://data.parliament.uk/resources/1126305/answer", "answerText" : {"_value" : "<p>The estimate is the tax recovered from insolvencies that HM Revenue and Customs (HMRC) would not otherwise have collected before the policy was implemented. Adjustments were made for tax and payment timing.<\/p>"}
        , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
        }
        , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"}
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        , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
        , "questionFirstAnswered" : [{"_value" : "2019-05-22T16:21:03.407Z", "_datatype" : "dateTime"}
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      , "answeringDeptShortName" : {"_value" : "Treasury"}
      , "answeringDeptSortName" : {"_value" : "Treasury"}
      , "date" : {"_value" : "2019-05-13", "_datatype" : "dateTime"}
      , "hansardHeading" : {"_value" : "Insolvency"}
      , "houseId" : {"_value" : "2"}
      , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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      ], "questionText" : "To ask Her Majesty's Government what was the basis for their estimate in the consultation by HMRC Protecting your taxes in insolvency, published on 26 February, that the reintroduction of preferential status for any Crown creditor would yield £185 million per annum in additional tax revenue.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
      , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4159", "label" : {"_value" : "Biography information for Baroness Hayter of Kentish Town"}
      }
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      ], "uin" : "HL15665"}
    , {"_about" : "http://data.parliament.uk/resources/1126306", "AnsweringBody" : [{"_value" : "Treasury"}
      ], "answer" : {"_about" : "http://data.parliament.uk/resources/1126306/answer", "answerText" : {"_value" : "<p>The \u2018Protecting your taxes in insolvency\u2019 proposals take into account lost government revenue resulting from other taxpayers suffering additional bad debts due to the priority payment of HMRC.<\/p><p> <\/p><p>Lending against fixed assets will not be impacted by this measure, but lending against floating assets will be impacted, as HMRC will move above secured creditors with floating charges in insolvencies.<\/p><p> <\/p><p>At Budget 2018, the independent OBR chose not to make any adjustments to their economic forecast in response to this measure.<\/p>"}
        , "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
        }
        , "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"}
        , "dateOfAnswer" : {"_value" : "2019-05-22", "_datatype" : "dateTime"}
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        , "questionFirstAnswered" : [{"_value" : "2019-05-22T16:22:56.03Z", "_datatype" : "dateTime"}
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      , "answeringDeptShortName" : {"_value" : "Treasury"}
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      , "date" : {"_value" : "2019-05-13", "_datatype" : "dateTime"}
      , "hansardHeading" : {"_value" : "Insolvency"}
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      , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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      ], "questionText" : "To ask Her Majesty's Government whether the proposals in the consultation by HMRC Protecting your taxes in insolvency, published on 26 February, to reintroduce preferential status for any Crown creditor takes into account lost Government revenue resulting from other taxpayers suffering additional bad debts due to the priority payment of HMRC, and any consequential loss to the economy resulting other taxpayers themselves becoming insolvent due to an increased burden of bad debt; and what assessment, if any, they have made of the impact of that change on lending.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
      , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4159", "label" : {"_value" : "Biography information for Baroness Hayter of Kentish Town"}
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