Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1601214

registered interest
date	03/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Devon
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government how many bank branches in Devon closed in (1) 2018, (2) 2019, (3) 2020, (4) 2021, and (5) 2022.
tabling member printed	The Lord Bishop of Exeter
uin	HL6110
answer	answer is ministerial correction date of answer 14/03/2023 answer text <p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. Nonetheless, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions nor make direct assessments of these branch networks. Based on constituency level data published by LINK there are over 650 ATMs and more than 80 bank branches in the county of Devon.</p><p> </p><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</p><p> </p><p>Alternative options for access include via telephone banking, through digital means such as mobile or online banking, or the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared banking hubs are also being piloted, providing basic banking services and dedicated space where community bankers from major banks can meet customers of that bank.</p> answering member printed Baroness Penn question first answered 14/03/2023 15:57:58 answering member 4726 label Biography information for Baroness Penn
tabling member	4929 label Biography information for The Lord Bishop of Exeter

1601219

registered interest
date	03/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Import Duties: Urine Drainage Bags
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they plan to ask HMRC to work with the World Customs Organisation’s Harmonised System Committee to reclassify urine drainage bags as medical devices for import tariff purposes.
tabling member printed	Lord Hunt of Kings Heath
uin	HL6115
answer	answer is ministerial correction date of answer 17/03/2023 answer text <p>HMRC has reviewed the classification of urine drainage bags and consider the classification 3926 to be correct. This is in line with classification decisions previously issued by the World Customs Organization, which member countries are expected to follow.</p><p> </p><p>Businesses who wish to make representations to reduce the UK import duty rate for these goods, or to make an application for a temporary suspension of import duties, may contact the Department for Business and Trade via <a href="mailto:TariffSuspensions@trade.gov.uk" target="_blank">TariffSuspensions@trade.gov.uk</a></p><p> </p><p>Covid-19 critical goods, which include Urine drainage bags, are currently subject to a 0 per cent rate of Customs duty until the end of 2023.</p> answering member printed Baroness Penn question first answered 17/03/2023 13:17:15 answering member 4726 label Biography information for Baroness Penn
tabling member	2024 label Biography information for Lord Hunt of Kings Heath

1600580

registered interest
date	01/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Duty Free Allowances: Northern Ireland
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 the Windsor Framework on duty free purchases when flying from airports in Northern Ireland.
tabling member printed	Baroness Hoey
uin	HL6036
answer	answer is ministerial correction date of answer 15/03/2023 answer text <p>The Windsor Framework does not impact the government’s duty-free policy. The government has always been committed to maintaining frictionless trade between Northern Ireland and Ireland and between Northern Ireland and Great Britain.</p><p> </p><p>Enabling duty-free shopping between Ireland and Northern Ireland or between Northern Ireland and Great Britain would lead to significant distortions of trade on the island of Ireland as well as a significant revenue loss for both UK and Ireland by creating a legal route for unlimited amounts of alcohol and tobacco to flow into the UK market duty-free.</p> answering member printed Baroness Penn question first answered 15/03/2023 16:06:37 answering member 4726 label Biography information for Baroness Penn
tabling member	210 label Biography information for Baroness Hoey

1599662

registered interest
date	27/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pension Funds: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they intend to adopt the Competition and Market Authority’s recommendation of December 2018 to make investment consultants advising on pension funds subject to regulation by the Financial Conduct Authority; and if so, when.
tabling member printed	Baroness Altmann
uin	HL5877
answer	answer is ministerial correction date of answer 10/03/2023 answer text <p>The principal finding of the Competition and Markets Authority’s (CMA) 2018 Investment Consultants Market Investigation report was that the investment consultancy and fiduciary management market was insufficiently competitive, leading to adverse impacts for their customers. One of the recommendations of that report was that investment consultants should be brought into Financial Conduct Authority’s (FCA) regulation.</p><p> </p><p>In the March 2019 response to the recommendations of the CMA’s final report, HM Treasury committed to consulting on the CMA’s recommendation that the FCA’s regulatory perimeter be extended to cover the activities of investment consultants. A number of other priorities, including the urgent work required to respond to the Covid-19 pandemic, meant that the work to develop this consultation has been delayed.</p><p> </p><p>However, a number of other recommendations made by the CMA to address competition in this market have been taken forward, such as the Department for Work and Pensions’ legislation requiring pension scheme trustees to carry out a competitive tender for fiduciary management services.</p><p> </p><p>HM Treasury works closely with the FCA and has held regular discussions with them on this matter.</p> answering member printed Baroness Penn grouped question UIN HL5878 question first answered 10/03/2023 11:04:58 answering member 4726 label Biography information for Baroness Penn
tabling member	4533 label Biography information for Baroness Altmann

1599663

registered interest
date	27/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pension Funds: Advisory Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what discussions they have had with the Financial Conduct Authority on the regulation of investment consultants for pension fund investors, including the regulation of their net zero and sustainability strategies.
tabling member printed	Baroness Altmann
uin	HL5878
answer	answer is ministerial correction date of answer 10/03/2023 answer text <p>The principal finding of the Competition and Markets Authority’s (CMA) 2018 Investment Consultants Market Investigation report was that the investment consultancy and fiduciary management market was insufficiently competitive, leading to adverse impacts for their customers. One of the recommendations of that report was that investment consultants should be brought into Financial Conduct Authority’s (FCA) regulation.</p><p> </p><p>In the March 2019 response to the recommendations of the CMA’s final report, HM Treasury committed to consulting on the CMA’s recommendation that the FCA’s regulatory perimeter be extended to cover the activities of investment consultants. A number of other priorities, including the urgent work required to respond to the Covid-19 pandemic, meant that the work to develop this consultation has been delayed.</p><p> </p><p>However, a number of other recommendations made by the CMA to address competition in this market have been taken forward, such as the Department for Work and Pensions’ legislation requiring pension scheme trustees to carry out a competitive tender for fiduciary management services.</p><p> </p><p>HM Treasury works closely with the FCA and has held regular discussions with them on this matter.</p> answering member printed Baroness Penn grouped question UIN HL5877 question first answered 10/03/2023 11:04:58 answering member 4726 label Biography information for Baroness Penn
tabling member	4533 label Biography information for Baroness Altmann

1599713

registered interest
date	27/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to review the effectiveness of the provision of high street banking facilities and services (1) for all holders of bank accounts, (2) for those with disabilities, and (3) for those without access to the internet.
tabling member printed	Lord Birt
uin	HL5892
answer	answer is ministerial correction date of answer 09/03/2023 answer text <p>The Government believes that everyone, wherever they live, should have appropriate access to banking services. Nonetheless, decisions on opening and closing high street banking facilities are a commercial issue for banks and building societies.</p><p> </p><p>Guidance from the Financial Conduct Authority (FCA) sets out its expectation of firms when they are deciding to close their branches or free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</p><p> </p><p>UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles for Businesses. This includes a general requirement for firms to provide a prompt, efficient and fair service to all of their customers. The FCA’s Handbook requires firms to identify particularly vulnerable customers, and to deal with such customers appropriately. This includes older or disabled people, and those who may lack the capacity to manage their account on their own. In addition, like all service providers, 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><p> </p><p>Those without access to the internet can access banking services via telephone banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared bank hubs are also being piloted, providing basic banking services and dedicated space where community bankers from major banks can meet customers of that bank.</p> answering member printed Baroness Penn question first answered 09/03/2023 16:53:03 answering member 4726 label Biography information for Baroness Penn
tabling member	2533 label Biography information for Lord Birt

1599723

registered interest
date	27/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Stamp Duty Reserve Tax
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to update the Stamp Duty Reserve Tax legislation so that the growth market exemption applies to regulated recognised growth markets that are not part of a recognised stock exchange.
tabling member printed	Lord Hunt of Kings Heath
uin	HL5917
answer	answer is ministerial correction date of answer 10/03/2023 answer text <p>As with all aspects of the tax system, the Government will continue to keep this legislation under review.</p><p> </p><p>However, there are currently no plans to extend the recognised growth market exemption from Stamp Duty Reserve Tax to markets that are not part of a recognised stock exchange.</p> answering member printed Baroness Penn question first answered 10/03/2023 11:03:46 answering member 4726 label Biography information for Baroness Penn
tabling member	2024 label Biography information for Lord Hunt of Kings Heath

1599724

registered interest
date	27/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Digital Assets
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of whether digital asset firms that have left the UK to seek authorisation in other jurisdictions can still serve UK consumers.
tabling member printed	Lord Hunt of Kings Heath
uin	HL5918
answer	answer is ministerial correction date of answer 09/03/2023 answer text <p>The government believes that having robust and effective regulation will boost innovation - by giving people and businesses the confidence they need to use new technologies safely.</p><p> </p><p>In April 2022, the government set out a number of reforms which will see the regulation and aspects of tax treatment of cryptoassets evolve. This included a commitment to consult on further regulation for cryptoassets. A consultation on the future financial services regulatory regime for cryptoasset activities was published here: <a href="https://www.gov.uk/government/consultations/future-financial-services-regulatory-regime-for-cryptoassets" target="_blank">https://www.gov.uk/government/consultations/future-financial-services-regulatory-regime-for-cryptoassets</a> on Wednesday 1 February. The proposed measures position the UK as a safe jurisdiction for cryptoasset activity, fostering innovation and providing clarity for firms and consumers.</p><p> </p><p>The consultation covers a number of issues, including that of geographic scope. The government proposes to capture cryptoasset activities provided in or to the United Kingdom, which would capture activities provided by UK firms to persons based in the UK or overseas, as well as those provided by overseas firms to UK persons. Whilst this is intended to be the standard approach, the government recognises that there may be nuances in the application of this for specific activities.</p><p> </p><p>Given the global nature of cryptoassets, the government also remains committed to working closely with international partners, and through global fora, on our response to developments in the cryptoasset sector.</p> answering member printed Baroness Penn grouped question UIN HL5919 question first answered 09/03/2023 17:02:00 answering member 4726 label Biography information for Baroness Penn
tabling member	2024 label Biography information for Lord Hunt of Kings Heath

1599725

registered interest
date	27/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Digital Assets
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to ensure that the UK becomes an attractive jurisdiction for digital assets companies looking to build and scale up their business.
tabling member printed	Lord Hunt of Kings Heath
uin	HL5919
answer	answer is ministerial correction date of answer 09/03/2023 answer text <p>The government believes that having robust and effective regulation will boost innovation - by giving people and businesses the confidence they need to use new technologies safely.</p><p> </p><p>In April 2022, the government set out a number of reforms which will see the regulation and aspects of tax treatment of cryptoassets evolve. This included a commitment to consult on further regulation for cryptoassets. A consultation on the future financial services regulatory regime for cryptoasset activities was published here: <a href="https://www.gov.uk/government/consultations/future-financial-services-regulatory-regime-for-cryptoassets" target="_blank">https://www.gov.uk/government/consultations/future-financial-services-regulatory-regime-for-cryptoassets</a> on Wednesday 1 February. The proposed measures position the UK as a safe jurisdiction for cryptoasset activity, fostering innovation and providing clarity for firms and consumers.</p><p> </p><p>The consultation covers a number of issues, including that of geographic scope. The government proposes to capture cryptoasset activities provided in or to the United Kingdom, which would capture activities provided by UK firms to persons based in the UK or overseas, as well as those provided by overseas firms to UK persons. Whilst this is intended to be the standard approach, the government recognises that there may be nuances in the application of this for specific activities.</p><p> </p><p>Given the global nature of cryptoassets, the government also remains committed to working closely with international partners, and through global fora, on our response to developments in the cryptoasset sector.</p> answering member printed Baroness Penn grouped question UIN HL5918 question first answered 09/03/2023 17:02:00 answering member 4726 label Biography information for Baroness Penn
tabling member	2024 label Biography information for Lord Hunt of Kings Heath

1589024

registered interest
date	23/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Sanctions
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government whether they have identified any breaches of UK sanctions over the last 12 months; and if so, what was their response.
tabling member printed	Viscount Waverley
uin	HL5873
answer	answer is ministerial correction date of answer 09/03/2023 answer text <p>HM Treasury, through the Office of Financial Sanctions Implementation (OFSI), is the UK’s competent authority responsible for the implementation of financial sanctions. It is therefore the body responsible for civil enforcement of breaches of financial sanctions.</p><p> </p><p>Regulations, as well as most specific and General Licences issued by OFSI, include reporting obligations to support the monitoring and enforcement of financial sanctions.</p><p> </p><p>When OFSI becomes aware of a potential breach of financial sanctions, it takes appropriate action to investigate. OFSI’s responses range from no further action, where no breach is found, to monetary penalties where a breach is sufficiently serious. Where criminal investigation is appropriate, referrals are made to relevant law enforcement partners</p><p> </p><p>OFSI continues to assess every reported suspected breach of UK sanctions regulations and does not conclude whether a breach has occurred until the conclusion of an investigation. Details of civil monetary penalties issued by OFSI are published on GOV.UK here [https://www.gov.uk/government/collections/enforcement-of-financial-sanctions].</p><p> </p><p>Although most of OFSI’s enforcement action is not publicised, all outcomes help support compliance with financial sanctions across the UK and (in the case of UK-based companies with a wider presence) internationally.</p> answering member printed Baroness Penn grouped question UIN HL5874 question first answered 09/03/2023 13:21:47 answering member 4726 label Biography information for Baroness Penn
tabling member	1744 label Biography information for Viscount Waverley