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1659863

registered interest
date	11/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Housing: Costs
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to help homeowners who are struggling with rising housing costs.
tabling member printed	Lord Taylor of Warwick
uin	HL10054
answer	answer is ministerial correction date of answer 25/09/2023 answer text <p><strong>The pricing of mortgages is a commercial decision for lenders in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers. </strong></p><p> </p><p><strong>On Friday 23 June the Chancellor met with the UK’s largest mortgage lenders, UK Finance and the Financial Conduct Authority to discuss how lenders will provide support for those who encounter problems keeping up with their mortgage payments. At this meeting, lenders agreed to a new Mortgage Charter to support borrowers struggling with their mortgage payments that was published on 26 June. The Charter sets out the standards signatory lenders will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period. </strong></p><p> </p><p><strong>The Charter is in addition to the significant safeguards already in place for consumers in the mortgage market. Financial Conduct Authority rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. The Government has also taken measures aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans, protection in the courts through the Pre-Action Protocol, and the Housing Loss Prevention Advice Service (HLPAS). </strong></p><p> </p><p><strong>Importantly, the Government also remains committed to providing a fair deal for renters and landlords. The Renters (Reform) Bill currently making its way through Parliament will deliver the government’s commitment to ‘a better deal for renters’ – improving the system for responsible tenants and good faith landlords. Furthermore, we remain committed to improving the supply of affordable housing, and the £11.5 billion Affordable Homes Programme will deliver thousands of affordable homes to both rent and buy right across the country. </strong></p> answering member printed Baroness Penn question first answered 25/09/2023 15:50:01 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1659268

registered interest
date	07/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Property: Prices
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking, if any, to mitigate any decrease in property prices.
tabling member printed	Lord Taylor of Warwick
uin	HL10003
answer	answer is ministerial correction date of answer 21/09/2023 answer text <p>Recognising that this is a concerning time for mortgage borrowers, the Chancellor worked with mortgage lenders, UK Finance and the Financial Conduct Authority to agree a new Mortgage Charter to support borrowers struggling with mortgage payments. The Charter sets out the standards signatory lenders will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period. The Government has also taken measures aimed at helping people to avoid repossession.</p><p> </p><p>House prices are fundamentally driven by the balance of supply and demand in the market for housing.</p> answering member printed Baroness Penn question first answered 21/09/2023 15:28:05 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1658478

registered interest
date	05/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business Rates
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to reduce the business rate multiplier in England and Wales.
tabling member printed	Lord Taylor of Warwick
uin	HL9917
answer	answer is ministerial correction date of answer 13/09/2023 answer text <p>At the Autumn Statement 2022, the Government announced a freeze to the business rates multiplier for 2023-24, a tax cut worth £9.3 billion over the next five years. This was the third consecutive year the multiplier has been frozen, protecting businesses from inflationary pressures at an overall cost of £14.5 billion.</p><p> </p><p>Business rates are an essential form of funding for local government to provide vital public services.</p><p> </p><p>The Government keeps all taxes under review.</p> answering member printed Baroness Penn question first answered 13/09/2023 13:00:26 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1655166

registered interest
date	25/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Interest Rates: Companies
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to provide financial support to companies affected by rising interest rates.
tabling member printed	Lord Taylor of Warwick
uin	HL9720
answer	answer is ministerial correction date of answer 08/08/2023 answer text <p>The Government has introduced a number of measures to financially support businesses. These include:</p><ul><li>the Energy Bills Discount Scheme (EBDS) provides all eligible businesses and other non-domestic energy users with a discount on high energy bills for 12 months from 1 April 2023 until 31 March 2024.</li><li>At Autumn Statement we announced a Business Rates package worth £13.6bn over the next five years to support high streets and protect businesses from large bill increases.</li><li>the Recovery Loan Scheme has been extended until June 2024, providing businesses with up to £2 million of government guaranteed finance.</li><li>Increasing the Employment Allowance from £4,000 to £5,000, which means that businesses and charities who had employer NICs bills of £100,000 or less in the previous tax year will be able to claim up to £5,000 off their employer NICs bills.</li></ul><p>Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England. The Bank of England has the Government’s full support as they take action to return inflation to the target of 2% inflation in the Consumer Prices Index (CPI).</p><p> </p> answering member printed Baroness Penn question first answered 08/08/2023 10:53:56 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1655168

registered interest
date	25/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to enhance the UK's economic competitiveness and resilience.
tabling member printed	Lord Taylor of Warwick
uin	HL9722
answer	answer is ministerial correction date of answer 08/08/2023 answer text <p><strong></strong>At the Spring Budget, the Chancellor announced a package of measures to increase the labour supply, incentivize business investment and improve productivity. The Chancellor has a plan to drive economic growth and boost competitiveness, centred on the 4Es of enterprise, education, employment and everywhere. UK businesses enjoy the lowest tax burden in the G7 and the most generous capital allowances regimes in the OECD. As a result, the World Bank ranks the UK as the best place to do business amongst large European nations and second in the G7.</p><p> </p><p>The Government remains committed to tackling risks and vulnerabilities and published its Resilience Framework in December 2022.</p> answering member printed Baroness Penn question first answered 08/08/2023 10:53:39 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1655050

registered interest
date	24/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Trade with EU: Small Businesses
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assistance they are providing to small and medium-sized factories in England and Wales to support them with extra costs from customs checks as a result of the UK's departure from the EU.
tabling member printed	Lord Taylor of Warwick
uin	HL9643
answer	answer is ministerial correction date of answer 07/08/2023 answer text <p>The 2025 UK Border Strategy sets out the Government’s vision for the UK border to be the most effective in the world. A border which embraces innovation and simplifies processes for traders, including small and medium sized manufacturers.</p><p> </p><p>To support businesses with the post-Brexit environment, HMRC has provided practical support to all sizes and types of businesses as they adapt to the new trading environment. This support includes comprehensive guidance on GOV.UK, as well as a range of other supportive information, including recorded webinars and short explainer videos.</p><p> </p><p>HMRC has invested in building capacity and capability in the Customs &amp; International Trade Helpline and webchat service to ensure all sizes of businesses who need additional support are able to access it promptly. Small and medium sized businesses can also use HMRC’s ‘Import and exports general enquiries’ service for help with UK customs enquiries via online, webchat, phone and post.</p> answering member printed Baroness Penn question first answered 07/08/2023 14:50:25 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1654976

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cost of Living: Government Assistance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have, if any, to support vulnerable individuals and families facing financial strain due to the increased prices of essential items.
tabling member printed	Lord Taylor of Warwick
uin	HL9579
answer	answer is ministerial correction date of answer 25/07/2023 answer text <p>The Government recognises the challenges facing households due to elevated costs of living, so has taken action to protect struggling households: support provided from October 2022-June 2023 has paid for almost half of the typical family’s energy bill through the Energy Price Guarantee (EPG) and Energy Bills Support Scheme (EBSS). This is in addition to new cost of living payments, benefits uprating, and the extension of the Household Support Fund to help the most vulnerable with the cost of essentials in 2023-2024.</p><p>Taken together, support to households to help with higher bills is worth £94 billion, or £3,300 per household on average across this year and last – one of the largest household support packages in Europe.</p> answering member printed Baroness Penn question first answered 25/07/2023 13:06:01 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1653045

registered interest
date	13/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Fraud
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to introduce new (1) legislation, or (2) regulatory guidelines, addressing AI-driven fraud in the financial sector.
tabling member printed	Lord Taylor of Warwick
uin	HL9346
answer	answer is ministerial correction date of answer 21/07/2023 answer text <p>The Government is aware of the fraud risks posed to the public from technologies such as Artificial Intelligence, including deepfakes. The Government is engaging with leading tech companies through its upcoming Online Fraud Charter to agree voluntary commitments from the sector to prevent fraud and keep their users and customers safe. This includes assessing the current and future risks and opportunities around AI.</p><p> </p><p>Tackling fraud requires a unified and co-ordinated response from government, law enforcement and the private sector to better protect the public and businesses from fraud, reduce the impact of fraud on victims, and increase the disruption and prosecution of fraudsters. This is why the Government recently published a new strategy to address the threat of fraud.</p><p> </p><p> </p><p>We will work with industry to remove the vulnerabilities that fraudsters exploit, with intelligence agencies to shut down fraudulent infrastructure, with law enforcement to identify and bring the most harmful offenders to justice, and with all partners to ensure that the public have the advice and support they need.</p> answering member printed Baroness Penn question first answered 21/07/2023 08:53:32 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1653062

registered interest
date	13/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the impact of existing tax-efficient schemes on (1) supporting small businesses, and (2) attracting investment.
tabling member printed	Lord Taylor of Warwick
uin	HL9348
answer	answer is ministerial correction date of answer 24/07/2023 answer text <p>There are a number of schemes which aim to support investment into small businesses. In particular, the tax-advantaged venture capital (VC) schemes provide a range of generous tax reliefs to incentivise individuals to invest in small and growing companies.</p><p> </p><p>The VC schemes are currently being evaluated under the criteria set out in the published list of HMRC planned evaluation publications. Part of the research element of these evaluations is designed to understand the impact of the schemes in meeting their objectives. The evaluations will be published according to HMRC’s usual process, as part of the commitment to publish all commissioned research. The Government keeps all tax reliefs under review to ensure they continue to meet their policy objectives in a way that is fair and effective.</p><p> </p><p><strong> </strong></p> answering member printed Baroness Penn question first answered 24/07/2023 15:29:56 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1652577

registered interest
date	12/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Government Assistance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have, if any, to support individuals and families facing difficulties in accessing affordable mortgages due to elevated interest rates.
tabling member printed	Lord Taylor of Warwick
uin	HL9303
answer	answer is ministerial correction date of answer 18/07/2023 answer text <p>The pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene.</p><p> </p><p>However, we recognise this will be a concerning time for all households with a mortgage. The Prime Minister has been clear, the best and most important way that we can keep costs and interest rates down for people is to halve inflation, and then return it to the 2% target.</p><p> </p><p>Following the commitments agreed to support borrowers in December, the Chancellor met with mortgage lenders, UK Finance and the Financial Conduct Authority on 23 June. At this meeting, lenders agreed to a new Mortgage Charter to support borrowers struggling with their mortgage payments, which was published on 26 June. This sets out the standards lenders will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period.</p><p> </p><p>This is in addition to the measures the Government has already taken aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans, and protection in the courts through the Pre-Action Protocol.</p><p> </p><p>If mortgage holders are concerned about making their repayment, they must speak to their lender as soon as possible. Contacting them will not affect their credit score.</p> answering member printed Baroness Penn question first answered 18/07/2023 11:13:12 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick