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1520143

registered interest
date	10/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Growth: G7
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what has been the average annual rate of GDP growth since 2008 of (1) the UK, and (2) other G7 economies.
tabling member printed	Lord Birt
uin	HL2386
answer	answer is ministerial correction date of answer 24/10/2022 answer text <p>The UK’s average annual GDP growth rate between 2008-2021 was the fourth highest in the G7 at 0.8%, below the US (1.6%), Canada (1.3%) and Germany (0.9%). It was above France (0.7%), Japan (0.2%) and Italy (-0.4%).</p> answering member printed Viscount Younger of Leckie question first answered 24/10/2022 15:05:24 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	2533 label Biography information for Lord Birt

1520153

registered interest
date	10/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Contributions: Females
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government how many women currently pay the reduced National Insurance contribution rate for married women and widows.
tabling member printed	Lord Davies of Brixton
uin	HL2404
answer	answer is ministerial correction date of answer 24/10/2022 answer text <p>HMRC estimates that fewer than 1,000 individuals currently pay the married women’s reduced rate of National Insurance.</p><p> </p><p>HMRC has a statutory duty of confidentiality regarding taxpayer information, which prohibits officers of HMRC from releasing specifics on individual taxpayers. As a result, the Government cannot provide the information requested on the youngest person currently paying the reduced rate of National Insurance contributions for married women and widows.</p> answering member printed Viscount Younger of Leckie grouped question UIN HL2405 question first answered 24/10/2022 15:15:41 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	4893 label Biography information for Lord Davies of Brixton

1520154

registered interest
date	10/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance Contributions: Females
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what is the month and year of birth of the youngest person currently paying the reduced National Insurance contribution rate for married women and widows.
tabling member printed	Lord Davies of Brixton
uin	HL2405
answer	answer is ministerial correction date of answer 24/10/2022 answer text <p>HMRC estimates that fewer than 1,000 individuals currently pay the married women’s reduced rate of National Insurance.</p><p> </p><p>HMRC has a statutory duty of confidentiality regarding taxpayer information, which prohibits officers of HMRC from releasing specifics on individual taxpayers. As a result, the Government cannot provide the information requested on the youngest person currently paying the reduced rate of National Insurance contributions for married women and widows.</p> answering member printed Viscount Younger of Leckie grouped question UIN HL2404 question first answered 24/10/2022 15:15:41 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	4893 label Biography information for Lord Davies of Brixton

1520168

registered interest
date	10/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Enterprise Investment Scheme and Venture Capital Trusts
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to their Growth Plan 2022 (CP 743), published on 23 September, whether the extensions to the Enterprise Investment Scheme and Venture Capital Trusts will make those schemes permanent.
tabling member printed	Lord Leigh of Hurley
uin	HL2429
answer	answer is ministerial correction date of answer 24/10/2022 answer text <p>In the Growth Plan 2022 published on 23 September, the Government made clear its support for the Enterprise Investment/Venture Capital Trust schemes. The Government remains supportive of extending them in the future and will engage with stakeholders on the process of implementing this extension.</p> answering member printed Viscount Younger of Leckie question first answered 24/10/2022 15:16:08 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	4295 label Biography information for Lord Leigh of Hurley

1520187

registered interest
date	10/10/2022
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 plans they have to support working families given rising mortgage rates.
tabling member printed	Lord Taylor of Warwick
uin	HL2456
answer	answer is ministerial correction date of answer 20/10/2022 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.</p><p> </p><p>However, the Government has already taken immediate action to help all 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. This could include measures such as a payment holiday, partial payment, or an extension of mortgage term.</p><p><em> </em></p><p>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><p><strong> </strong></p> answering member printed Viscount Younger of Leckie question first answered 20/10/2022 11:04:16 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	1796 label Biography information for Lord Taylor of Warwick

1520194

registered interest
date	10/10/2022
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 level of economic growth was achieved in the UK in each of the last 25 financial years.
tabling member printed	Lord Blunkett
uin	HL2389
answer	answer is ministerial correction date of answer 24/10/2022 answer text <p>Data on GDP growth for the last 25 financial years can be found online at the following link and is provided in the attached. <a href="https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.ons.gov.uk%2Feconomy%2Fgrossdomesticproductgdp%2Fdatasets%2Fuksecondestimateofgdpdatatables&amp;data=05%7C01%7CIlona.Diomidova%40hmtreasury.gov.uk%7Cc4e33aad247e4e57cb8008daacfa104f%7Ced1644c505e049e6bc39fcf7ac51c18c%7C0%7C0%7C638012487399352534%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=hIJcAZ%2FuY9Xfs8bSDU5KC%2B%2F%2Bg7e3sRIH4GrEKaYGPcM%3D&amp;reserved=0" target="_blank">https://www.ons.gov.uk/economy/grossdomesticproductgdp/datasets/uksecondestimateofgdpdatatables</a></p> answering member printed Viscount Younger of Leckie question first answered 24/10/2022 15:36:22 answering member 4169 label Biography information for Viscount Younger of Leckie attachment 1 file name Quarterly National Accounts Data Tables.xlsx title ONS data
tabling member	395 label Biography information for Lord Blunkett

1518482

registered interest
date	26/09/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation: Disclosure of Information
house id	2
legislature	25277 pref label House of Lords
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.
tabling member printed	Baroness Bennett of Manor Castle
uin	HL2324
answer	answer is ministerial correction date of answer 10/10/2022 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 question first answered 10/10/2022 11:29:53 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	4719 label Biography information for Baroness Bennett of Manor Castle

1518483

registered interest
date	26/09/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Exchange Rates: Dollar
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 main reasons for the long-term decline of the value of the pound against the US dollar.
tabling member printed	Lord Birt
uin	HL2327
answer	answer is ministerial correction date of answer 10/10/2022 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. answering member printed Viscount Younger of Leckie question first answered 10/10/2022 16:33:17 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	2533 label Biography information for Lord Birt

1505813

registered interest
date	07/09/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Hospitality Industry: Finance
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to introduce an emergency financial support package for the hospitality sector.
tabling member printed	Lord Taylor of Warwick
uin	HL2287
answer	answer is ministerial correction date of answer 28/09/2022 answer text <p>The Government appreciates that many businesses are exposed to increased energy costs, driven by global factors.</p><p>The new Energy Bill Relief Scheme (EBSS), unveiled on 21 September, will provide a discount on wholesale gas and electricity prices for businesses, including those in the hospitality sectors. This will apply to fixed term contracts – agreed on or after 1 April 2022 – as well as deemed, variable and flexible tariffs and contracts. The guarantee will apply to energy usage from 1 October 2022 to 31 March 2023, and this support will be automatically applied to bills.</p><p>The Growth Plan (2022) fulfilled the Government’s commitments to cut taxes and set the direction for regulatory reform. The planned rise in the rate of Corporation Tax will not go ahead and the Annual Investment Allowance will be permanently set at £1 million, freeing businesses to invest and grow. The reduction in the rate of National Insurance will make it cheaper for businesses to employ staff and pay higher wages; and reforms to Universal Credit will ensure claimants are supported to seek more and better paid work. In the coming weeks, the Government will set out further supply side reforms which will promote growth and ease the burden on businesses.</p><p>This is in addition to the 50% business rates relief for eligible hospitality businesses, and the increased Employment Allowance worth up to £5,000.</p><p>The Government has taken action to protect businesses from soaring energy costs and provided them with the certainty they need to plan, invest, and grow.</p> answering member printed Viscount Younger of Leckie question first answered 28/09/2022 14:19:33 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	1796 label Biography information for Lord Taylor of Warwick

1505814

registered interest
date	07/09/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: National Insurance Contributions
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what plans they have to temporarily reverse national insurance contributions for small and medium sized enterprises.
tabling member printed	Lord Taylor of Warwick
uin	HL2288
answer	answer is ministerial correction date of answer 28/09/2022 answer text <p>The Government announced on 22 September that it will be reversing the Health and Social Care Levy. This will provide a tax cut for the 60 per cent (920,000) of businesses who pay National Insurance contributions (NICs) bills by an average of £9,600 in 2023-24. 20,000 businesses will be taken out of paying NICs entirely.</p><p> </p><p>The other 40 per cent of businesses already pay no NICs as a result of the Employment Allowance (EA). In April 2022, the Government increased the EA, a relief which allows eligible businesses to reduce their employer NICs bills each year, from £4,000 to £5,000.</p><p> </p><p>This means that businesses and charities who had employer NICs bills of £100,000 or less in the previous tax year are able to claim up to £5,000 off their employer NICs bills. As a result, eligible businesses are able to employ 4 full-time employees on the National Living Wage without paying any employer NICs. 94 per cent of businesses that benefitted from this change were small and micro businesses.</p><p>The Government also recognises that many businesses are exposed to increased energy costs driven by global factors. The Government has announced new support for households, businesses and public sector organisations facing rising energy bills in Great Britain and Northern Ireland – supporting growth, preventing unnecessary insolvencies and protecting jobs.</p><p>Through a new Energy Bill Relief Scheme, the Government will provide a discount on wholesale gas and electricity prices for all non-domestic customers (including all UK businesses, the voluntary sector like charities and the public sector such as schools and hospitals) whose current gas and electricity prices have been significantly inflated in light of global energy prices. This support will be equivalent to the Energy Price Guarantee put in place for households.</p> answering member printed Viscount Younger of Leckie question first answered 28/09/2022 14:40:19 answering member 4169 label Biography information for Viscount Younger of Leckie
tabling member	1796 label Biography information for Lord Taylor of Warwick