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1536128

registered interest
date	25/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Work Permits
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what estimate they have made of the impact on the trend rate of economic growth of a 50,000 increase in the number of work permits issued per year.
tabling member printed	Lord Green of Deddington
uin	HL2871
answer	answer is ministerial correction date of answer 08/11/2022 answer text <p>The independent Office for Budget Responsibility provides forecasts of the overall impact on economic growth of government policy, including those resulting from immigration policy. The next forecast will be provided on the 17<sup>th</sup> of November alongside the Autumn Statement.</p><p> </p><p>It is not appropriate to provide commentary on specific scenarios, but the government does consider relevant impacts in assessing potential changes to immigration policy.</p> answering member printed Baroness Penn grouped question UIN HL2873 question first answered 08/11/2022 15:51:22 answering member 4726 label Biography information for Baroness Penn
tabling member	4346 label Biography information for Lord Green of Deddington

1536129

registered interest
date	25/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Growth
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they have a target for increasing the trend rate of economic growth; and if so, what it is.
tabling member printed	Lord Green of Deddington
uin	HL2872
answer	answer is ministerial correction date of answer 08/11/2022 answer text The Government is committed to sustainable economic growth within a stable macro-economic environment. The Government will set out the approach to growth policy at the Autumn Statement on the 17th November. answering member printed Baroness Penn question first answered 08/11/2022 15:50:11 answering member 4726 label Biography information for Baroness Penn
tabling member	4346 label Biography information for Lord Green of Deddington

1536130

registered interest
date	25/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Work Permits
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what estimate they have made of the increase in GDP per head resulting from a 50,000 increase in the number of work permits if, on average, 90 per cent of applicants continue to be accompanied by one dependant.
tabling member printed	Lord Green of Deddington
uin	HL2873
answer	answer is ministerial correction date of answer 08/11/2022 answer text <p>The independent Office for Budget Responsibility provides forecasts of the overall impact on economic growth of government policy, including those resulting from immigration policy. The next forecast will be provided on the 17<sup>th</sup> of November alongside the Autumn Statement.</p><p> </p><p>It is not appropriate to provide commentary on specific scenarios, but the government does consider relevant impacts in assessing potential changes to immigration policy.</p> answering member printed Baroness Penn grouped question UIN HL2871 question first answered 08/11/2022 15:51:22 answering member 4726 label Biography information for Baroness Penn
tabling member	4346 label Biography information for Lord Green of Deddington

1536133

registered interest
date	25/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
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 homeowners with rising mortgage rates.
tabling member printed	Lord Hay of Ballyore
uin	HL2876
answer	answer is ministerial correction date of answer 08/11/2022 answer text <p>Around 75% of residential mortgage borrowers are on fixed-rate deals and are therefore shielded from interest rate rises in the short term. It is also worth noting that lenders are required to stress test all new prospective borrowers’ ability to continue repaying their mortgage under higher interest rates.</p><p> </p><p>However, the Government has already taken immediate action to help households through the Energy Price Guarantee and the Energy Bills Support Scheme. This is in addition to the £37 billion of targeted support for the cost of living this financial year.</p><p> </p><p>When mortgage borrowers are in financial difficulty and struggling to pay their mortgage, Financial Conduct Authority guidance requires firms to provide support through tailored forbearance options. The Government has also taken a number of measures aimed at helping people to avoid repossession, including Support for Mortgage Interest loans for those in receipt of an income-related benefit, and protection in the courts through the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.</p> answering member printed Baroness Penn question first answered 08/11/2022 15:31:58 answering member 4726 label Biography information for Baroness Penn
tabling member	4352 label Biography information for Lord Hay of Ballyore

1536137

registered interest
date	25/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Growth
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to increase economic growth.
tabling member printed	Lord Hay of Ballyore
uin	HL2880
answer	answer is ministerial correction date of answer 08/11/2022 answer text <p>The Government remains committed to boosting economic growth as the route to raising the prosperity of people across the UK. It continues to develop and deliver growth enhancing policies that ensure the UK has the right skills, high quality infrastructure and support for firms to innovate and invest.</p><p> </p><p>The Chancellor has announced the Autumn Statement will be delivered on 17 November. This will contain the UK’s medium-term fiscal plan, which will include an assessment of UK growth, and will be accompanied by an OBR Economic and Fiscal Outlook. This will set out the Government’s approach to business support.</p> answering member printed Baroness Penn question first answered 08/11/2022 15:49:48 answering member 4726 label Biography information for Baroness Penn
tabling member	4352 label Biography information for Lord Hay of Ballyore

1536152

registered interest
date	25/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Growth: Railways
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they still plan to (1) level up, (2) decarbonise, and (3) grow the economy; and what part they envisage the railway industry can play in realising such intentions.
tabling member printed	Lord Snape
uin	HL2895
answer	answer is ministerial correction date of answer 08/11/2022 answer text <p>The Government remains committed to boosting trend growth as the route to raising living standards and delivering high quality public services across the whole of the UK. The Government is also committed to tackling climate change and delivering on our obligations to reduce emissions to net zero by 2050.</p><p> </p><p>The Chancellor has announced the Autumn Statement will be delivered on 17 November. This will contain the UK’s medium-term fiscal plan, which will include an assessment of UK growth, and will be accompanied by an OBR Economic and Fiscal Outlook.</p><p> </p><p>The Government recognises the rail network's important role in improving connectivity, empowering regional economies and driving growth. The Government is committed to maintaining, renewing and enhancing the rail network. In the Transport Decarbonisation Plan the Government committed to delivering a net zero rail network by 2050.</p> answering member printed Baroness Penn question first answered 08/11/2022 15:22:25 answering member 4726 label Biography information for Baroness Penn
tabling member	319 label Biography information for Lord Snape

1535250

registered interest
date	24/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insider Trading
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they will publish a table showing the names of the individuals and corporations who have been (1) prosecuted, and (2) convicted, for 'insider trading' offences since 2010; and what penalties were levied in each case.
tabling member printed	Lord Sikka
uin	HL2848
answer	answer is ministerial correction date of answer 07/11/2022 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the noble Lord by letter. A copy of the letter will be placed in the Library of the House.</p> answering member printed Baroness Penn question first answered 07/11/2022 16:53:31 answering member 4726 label Biography information for Baroness Penn
tabling member	4885 label Biography information for Lord Sikka

1535256

registered interest
date	24/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Energy: VAT
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they intend to abolish VAT from domestic fuel bills.
tabling member printed	Lord Sikka
uin	HL2852
answer	answer is ministerial correction date of answer 07/11/2022 answer text <p>VAT is a broad-based tax on consumption and the 20 per cent standard rate applies to most goods and services. Exceptions to the standard rate have always been limited by both legal and fiscal considerations.</p><p> </p><p>The Government recognises that families should not have to bear all of the VAT costs they incur to meet their needs, with domestic fuels such as gas, electricity and heating oil already subject to the reduced rate of VAT at 5 per cent of VAT.</p><p> </p><p>The Government's package of support to help households with their energy bills is more generous than an additional VAT cut on domestic fuel and power, and there would be no guarantee that suppliers would pass on the discounts from this relief to all customers.</p> answering member printed Baroness Penn question first answered 07/11/2022 17:45:21 answering member 4726 label Biography information for Baroness Penn
tabling member	4885 label Biography information for Lord Sikka

1535260

registered interest
date	24/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cost of Living
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to introduce emergency legislation to deal with the rising cost of living.
tabling member printed	Lord Taylor of Warwick
uin	HL2856
answer	answer is ministerial correction date of answer 07/11/2022 answer text <p>The Government understands that people across the UK are worried about the cost of living. That is why the Government has announced £37 billion of support this financial year. The most vulnerable will receive up to £1,200, through the £400 Energy Bills Support Scheme, a £150 Council Tax rebate, and one-off £650 Cost of Living Payment for those on means-tested benefits, with additional support for pensioners and those claiming disability benefits.</p><p>In addition, the Government has also taken decisive action to support households and business with rising energy costs this winter through the Energy Price Guarantee and the Energy Bill Relief Scheme. The Energy Price Guarantee limits the energy bill of an average household to £2,500 a year, saving them at least £1,000 a year based on current energy prices. The Energy Bill Relief Scheme provides support for businesses through a discount which is calculated by comparing the estimated wholesale portion of the unit price to a baseline ‘government supported price’ that is lower than currently expected winter wholesale prices. For all non-domestic energy users in Great Britain this Government supported price has been set at £211 per megawatt hour (MWh) for electricity and £75 per MWh for gas. Some of the cost of living support schemes require legislation to be enacted, including the Energy Bills Relief Scheme. Further information on each can be found on the gov.uk website.</p><p>We are continuing to keep the situation under review and focus support on the most vulnerable whilst ensuring we act in a fiscally responsible way.</p> answering member printed Baroness Penn question first answered 07/11/2022 17:46:16 answering member 4726 label Biography information for Baroness Penn
tabling member	1796 label Biography information for Lord Taylor of Warwick

1524809

registered interest
date	20/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what estimate they have made of the number of buy-to-let mortgages in the UK.
tabling member printed	Baroness Hayman of Ullock
uin	HL2755
answer	answer is ministerial correction date of answer 27/10/2022 answer text <p>While the Government wants to support those who aspire to be homeowners, we appreciate that this is not everyone’s aspiration and that there are many people for whom renting a home is either more practical or affordable. There therefore needs to be a thriving private rental sector to accommodate these people’s housing needs.</p><p> </p><p>In Q2 this year, 13.6% of new advances were buy-to-let mortgages. The government does not hold data on the number of buy-to-let mortgages on variable or fixed rates.</p><p> </p><p>The pricing of mortgages and rents remain commercial decisions for lenders and landlords respectively, and the Government does not seek to intervene in these decisions. The Government is, however, providing millions of the most vulnerable households with financial support with the cost of living this year.</p> answering member printed Viscount Younger of Leckie grouped question UIN HL2756 question first answered 27/10/2022 12:54:45 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	4395 label Biography information for Baroness Hayman of Ullock