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1518482
registered interest false more like this
date remove filter
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Taxation: Disclosure of Information more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask His Majesty's Government what plans they have fully to meet the standards for tax transparency set by the General Assembly of the Global Initiative for Fiscal Transparency, including its 14 guiding principles. more like this
tabling member printed
Baroness Bennett of Manor Castle more like this
uin HL2324 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-10more like thismore than 2022-10-10
answer text <p>HMRC, in combination with HM Treasury, the Office of Budget Responsibility, Office for National Statistics, and other Government departments are already meeting, or exceeding, areas identified in the 14 guiding principles set by the General Assembly of the Global Initiative for Fiscal Transparency for tax transparency, for example:</p><p> </p><ul><li>HMRC publish an annual report which includes information on the prevailing tax gap and action taken to reduce it, as well as comprehensive accounts and other information on revenues, expenditure, performance and performance plans. This is in addition to separate publications on the measurement of tax gaps and other research conducted by HMRC on taxpayers’ behaviour and tax administration;</li><li>HMRC’s published Annual Report and Accounts, as well as other aspects of its performance and expenditure, are regularly audited by the independent National Audit Office (NAO), and subject to Parliamentary scrutiny. NAO reports of its audits are also published. Revenue and other statistics published by HMRC adhere to the Official Statistics Code of Practice and are also subject to independent audit by the UK’s Statistics Authority;</li><li>The UK Government and HMRC have increased their own transparency by publishing more data, including information about the exercise of powers. Government departments also publish data as part of a cross-Government transparency data publishing requirement, as directed by several letters from the Prime Minister since 2010;</li><li>The UK Government collaborates with international and regional financial institutions, contributing to their published revenue statistics, to improve the fairness, efficiency, and effectiveness of tax administration, including through the <a href="https://www.oecd.org/tax/forum-on-tax-administration/" target="_blank">Forum on Tax Administration</a>; and</li><li>The Tax Assurance Commissioner (TAC) role was created in 2012 to strengthen governance and assurance of tax disputes. The TAC provides assurance to Parliament and the public on the handling of civil tax disputes<em>, </em>and their Report is published as part of HMRC’s Annual Report.</li></ul><p> </p><p>Increasing transparency to improve the public’s trust in the tax system and Government accountability remains a focus for this administration.</p>
answering member printed Viscount Younger of Leckie remove filter
question first answered
less than 2022-10-10T11:29:53.927Zmore like thismore than 2022-10-10T11:29:53.927Z
answering member
4169
label Biography information for Viscount Younger of Leckie more like this
tabling member
4719
label Biography information for Baroness Bennett of Manor Castle more like this
1518483
registered interest false more like this
date remove filter
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Exchange Rates: Dollar more like this
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask His Majesty's Government what assessment they have made of the main reasons for the long-term decline of the value of the pound against the US dollar. more like this
tabling member printed
Lord Birt more like this
uin HL2327 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-10more like thismore than 2022-10-10
answer text Financial market movements are determined by a wide range of domestic and international factors. It is not appropriate for the government to comment on specific currency market movements. The UK does not have an exchange rate target and the Government does not have a desired level for sterling – the price is determined by the market. The UK's macroeconomic framework is based on an inflation target, and it is for the independent Monetary Policy Committee to set monetary policy to meet this target. more like this
answering member printed Viscount Younger of Leckie remove filter
question first answered
less than 2022-10-10T16:33:17.59Zmore like thismore than 2022-10-10T16:33:17.59Z
answering member
4169
label Biography information for Viscount Younger of Leckie more like this
tabling member
2533
label Biography information for Lord Birt more like this