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1587985

registered interest
date	21/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Duty Free Allowances
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what form of allowances and controls would be required to ensure duty was paid where allowances were exceeded were duty-free shopping for individuals moving between Northern Ireland and the EU to be introduced.
tabling member printed	Baroness Hoey
uin	HL5751
answer	answer is ministerial correction date of answer 07/03/2023 answer text <p>While it would not be appropriate for me to comment on a hypothetical issue, I can reaffirm that the Government remains committed to maintaining frictionless trade on the island of Ireland. Introducing duty-free shopping for goods moving between Northern Ireland and the EU would undermine that commitment.</p> answering member printed Baroness Penn question first answered 07/03/2023 14:49:36 answering member 4726 label Biography information for Baroness Penn
tabling member	210 label Biography information for Baroness Hoey

1587996

registered interest
date	21/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Retail Trade: VAT
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they will carry out a detailed cost-benefit analysis of tax-free shopping which also takes account of the potential benefits to the wider economy of removing such taxes.
tabling member printed	The Earl of Liverpool
uin	HL5762
answer	answer is ministerial correction date of answer 07/03/2023 answer text The independent Office for Budget Responsibility (OBR) published their assessment of the withdrawal of the previous VAT-free shopping schemes in November 2020. This showed that the withdrawal of VAT-free shopping would raise a significant amount of revenue and have a limited behavioural effect on decisions to visit, or spend, in the UK. The Treasury remains confident in the OBR’s analysis. answering member printed Baroness Penn question first answered 07/03/2023 16:24:12 answering member 4726 label Biography information for Baroness Penn
tabling member	2045 label Biography information for The Earl of Liverpool

1587330

registered interest
date	20/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Electricity Generation: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they have plans to amend the terms of the Electricity Generator Levy to make it comparable with the equivalent regime relating to fossil fuels, including in the area of investment relief; and if so, when.
tabling member printed	Lord Teverson
uin	HL5718
answer	answer is ministerial correction date of answer 06/03/2023 answer text <p>The Electricity Generator Levy (EGL) and the Energy Profits Levy (EPL) have different tax bases and combined rates. The EPL applies to oil and gas producers, and is charged at 35% on total profits, whereas the EGL is charged only on the portion of returns that are extraordinary. Also, the EPL applies on top of the default 40% headline tax rate applied to this sector and is expected to raise considerably more in revenues than the EGL.</p><p> </p><p>The EGL applies above a benchmark price which is set at a level approximately 50% more than the average electricity price over the last decade and will be indexed to inflation. There is a £10 million allowance, below which the levy will not be charged. Electricity generators will continue to be able to claim relief for their investments from the corporation tax they pay.</p><p> </p><p>The EGL is not intended to penalise electricity generators; it is a response to some electricity generators realising extraordinary returns from higher electricity prices because of unforeseen geopolitical events. This levy leaves them with a share of the upside they receive at times of high wholesale prices which they can use to invest in the clean energy generation.</p> answering member printed Baroness Penn question first answered 06/03/2023 12:03:00 answering member 4726 label Biography information for Baroness Penn
tabling member	3789 label Biography information for Lord Teverson

1586020

registered interest
date	09/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Individual Savings Accounts
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to allow savers to use Lifetime ISA (LISA) monies without penalty to buy a home of a value that would otherwise incur a penalty when the money was withdrawn.
tabling member printed	Lord Naseby
uin	HL5613
answer	answer is ministerial correction date of answer 22/02/2023 answer text <p>The Government is committed to supporting people of all incomes and at all stages of life to save, and to making the aspiration of home ownership a reality for as many households as possible.</p><p> </p><p>The Lifetime ISA is intended to support younger people saving for their first home or for later life by offering a generous government bonus of 25% on up to £4,000 of savings each year. These funds, including the government bonus, can be used to purchase a first home up to the value of £450,000.</p><p> </p><p>The Government keeps all elements of the Lifetime ISA under review, as it does all aspects of the tax system.</p> answering member printed Baroness Penn grouped question UIN HL5614 question first answered 22/02/2023 14:19:02 answering member 4726 label Biography information for Baroness Penn
tabling member	1251 label Biography information for Lord Naseby

1586021

registered interest
date	09/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Individual savings accounts
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to raise the £410,000 Lifetime ISA (LISA) limit to £607,500 to reflect average house price growth in the UK since 2017.
tabling member printed	Lord Naseby
uin	HL5614
answer	answer is ministerial correction date of answer 22/02/2023 answer text <p>The Government is committed to supporting people of all incomes and at all stages of life to save, and to making the aspiration of home ownership a reality for as many households as possible.</p><p> </p><p>The Lifetime ISA is intended to support younger people saving for their first home or for later life by offering a generous government bonus of 25% on up to £4,000 of savings each year. These funds, including the government bonus, can be used to purchase a first home up to the value of £450,000.</p><p> </p><p>The Government keeps all elements of the Lifetime ISA under review, as it does all aspects of the tax system.</p> answering member printed Baroness Penn grouped question UIN HL5613 question first answered 22/02/2023 14:19:02 answering member 4726 label Biography information for Baroness Penn
tabling member	1251 label Biography information for Lord Naseby

1586041

registered interest
date	09/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Electric Vehicles: Charging Points
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they have any plans to equalise the VAT rate for public charging (20 per cent) and home charging (5 per cent) for electric vehicles.
tabling member printed	Lord Truscott
uin	HL5634
answer	answer is ministerial correction date of answer 22/02/2023 answer text There are no current plans to change the VAT treatment of electric vehicle charging. However, the Government is committed to supporting the transition to zero emission vehicles to help the UK meet its net-zero obligations. The Government has committed £2.5 billion since 2020 to support the transition to zero emission vehicles, which funds targeted vehicle grants and the rollout of charging infrastructure. answering member printed Baroness Penn question first answered 22/02/2023 14:18:40 answering member 4726 label Biography information for Baroness Penn
tabling member	3682 label Biography information for Lord Truscott

1585516

registered interest
date	08/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Agriculture: Environment Protection
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether land that has been taken out of agricultural production for an environmental scheme or project will be eligible for (1) Agricultural Property Relief, or (2) equivalent relief.
tabling member printed	Lord Crathorne
uin	HL5535
answer	answer is ministerial correction date of answer 20/02/2023 answer text <p>The availability of relief is a question of fact and degree to be decided upon the particular facts of each case. Land that has been taken out of agricultural production over an extended period for an environmental scheme or project is unlikely to qualify for agricultural property relief from inheritance tax. However, owner-occupiers may continue to benefit from business property relief if the land is still used in the business and the overall business is not one of wholly or mainly making or holding investments.</p> answering member printed Baroness Penn question first answered 20/02/2023 15:10:43 answering member 4726 label Biography information for Baroness Penn
tabling member	3380 label Biography information for Lord Crathorne

1585550

registered interest
date	08/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Electricity Generation: Taxation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they have received the letter from Mishcon De Reya on behalf of Community Windpower Ltd about impending legal action in respect of the Electricity Generator Levy; and what steps they intend to take in response.
tabling member printed	Baroness Sheehan
uin	HL5569
answer	answer is ministerial correction date of answer 22/02/2023 answer text <p>The Treasury engages in good faith with all requests for further information it receives, just as it will in responding to any letter before claim should any be served in compliance with the established pre-action protocols. It is confident that it has, and continues to act, lawfully in the development of the Electricity Generator Levy.</p> answering member printed Baroness Penn question first answered 22/02/2023 17:33:53 answering member 4726 label Biography information for Baroness Penn
tabling member	4548 label Biography information for Baroness Sheehan

1585555

registered interest
date	08/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what recent discussions they have had with the Bank of England regarding the development of a "digital pound"; and what assessment they have made of the impact of a digital pound on the financial system in the UK.
tabling member printed	Lord Taylor of Warwick
uin	HL5574
answer	answer is ministerial correction date of answer 20/02/2023 answer text <p>HM Treasury and the Bank of England have engaged extensively through the Central Bank Digital Currency (CBDC) Taskforce on the subject of a potential digital pound.</p><p> </p><p>HM Treasury and the Bank of England this February issued a joint consultation on a potential digital pound in the UK. This is the latest milestone in our work on a digital pound. It marks the end of the research and exploration phase, and the beginning of a design phase of work.</p><p> </p><p>HM Treasury and the Bank of England have announced that a UK central bank digital currency, the digital pound, is likely to be needed in the future. It is too early to commit to build the infrastructure for one, but we are convinced that further preparatory work is justified.</p><p> </p><p>The digital pound would be a new form of sterling, similar to a digital banknote, issued by the Bank of England. It would be available to be used by households and businesses for their everyday payments needs – used in-store, online and to make payments to family and friends.</p><p> </p><p>The consultation considers the potential implications for the financial system, and for monetary and financial stability.</p> answering member printed Baroness Penn question first answered 20/02/2023 12:28:25 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1584738

registered interest
date	06/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Visual Impairment
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to support financial inclusion for blind and partially-sighted people.
tabling member printed	The Lord Bishop of St Albans
uin	HL5472
answer	answer is ministerial correction date of answer 20/02/2023 answer text <p>The Government works closely with regulators, industry, and consumer groups to promote financial inclusion. The Economic Secretary recently invited the Royal Institute of Blind People (RNIB) to attend the latest Financial Inclusion Policy Forum for a discussion of accessibility issues and consideration of what further action can be taken.</p><p> </p><p>The Government is also currently legislating to protect access to cash, while many firms offer services to make everyday banking and payments interfaces, including ATMs and Point of Sale terminals, more accessible for consumers.</p><p> </p><p>Importantly, all service providers, including banks and building societies are bound under the Equality Act 2010 to make reasonable adjustments, where necessary, in the way they deliver their services.</p> answering member printed Baroness Penn question first answered 20/02/2023 12:26:42 answering member 4726 label Biography information for Baroness Penn
tabling member	4308 label Biography information for The Lord Bishop of St Albans