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1697296

registered interest
date	19/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Foreign Investment in UK
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the announcement by the Chancellor of the Exchequer on 2 March concerning the requirement by 2027 for pension funds to disclose how much they invest in British businesses, what steps they are taking to assess the potential consequences on overall competitiveness and attractiveness of the UK as an investment destination.
tabling member printed	Lord Taylor of Warwick
uin	HL3426
answer	answer is ministerial correction date of answer 28/03/2024 answer text <p>The Chancellor announced at Spring Budget that the government will introduce new requirements for Defined Contribution pension funds to disclose publicly their level of UK equity investments, working closely with the Financial Conduct Authority (the FCA) who share responsibility for setting requirements for the market. The FCA will consult in the Spring. The government will introduce equivalent requirements for Local Government Pension Scheme funds in England &amp; Wales. The government will review what further action should be taken if the data does not demonstrate that UK equity allocations are increasing.</p><p> </p><p>This complements the wider reforms that the Government and regulators are already undertaking to boost UK markets.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 28/03/2024 12:46:56 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1696582

registered interest
date	18/03/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Companies: Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of reports that the number of company insolvencies last month were 17 per cent higher than one year earlier; and what steps they are taking to support struggling businesses.
tabling member printed	Lord Taylor of Warwick
uin	HL3339
answer	answer is ministerial correction date of answer 05/04/2024 answer text <p>Company insolvencies in 2023 were 14% higher than in 2022. However, the liquidation rate of 53.7 insolvencies per 10,000 active companies was lower than the recessionary peak of 94.7 per 10,000 in 2009. The average number of quarterly company insolvencies in the past 3 years (2021-2023) was 5,112. This is 28% higher than 2017 to 2019, when the quarterly average was 3,982.</p><p>The Government continues to support businesses, through Help to Grow: Management, Business Support Helpline, and Growth Hubs. Businesses can also access government-backed financial support from the British Business Bank. Additionally, the Help to Grow campaign and website has been refreshed, creating a one-stop shop for SMEs to find the information they need to grow and scale up.</p> answering member printed Lord Offord of Garvel question first answered 05/04/2024 10:25:55 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1696583

registered interest
date	18/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inflation: Employment and Pay
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following reports that public expectations for inflation have fallen to the lowest level in over two years, what assessment they have made of the impact of falling expectations on (1) wage growth trends, and (2) employment dynamics; and what steps they are taking to address any potential challenges in sustaining wage growth while maintaining price stability.
tabling member printed	Lord Taylor of Warwick
uin	HL3340
answer	answer is ministerial correction date of answer 28/03/2024 answer text <p>Inflation has more than halved, falling from its peak of 11.1% in October 2022 to 3.4% in February 2024 and nominal whole economy total pay has fallen from a peak of 8.9% in the three months to June to 5.6% in the three months to January 2024.</p><p>In the three months to January 2024 the unemployment rate was 3.9%, up by 0.1ppt on the year but low by historical standards. The OBR forecast that there will be a moderate rise in unemployment to a peak of 4.5% in Q4 2024 before declining to 4.1% by 2028.</p><p>Whilst inflation has fallen it still remains above the 2% target. The Monetary Policy Committee (MPC) continues to have the government’s full support as it takes action to sustainably return it to target.</p> answering member printed Baroness Vere of Norbiton question first answered 28/03/2024 12:45:55 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1696584

registered interest
date	18/03/2024
answering body	Department for Levelling Up, Housing and Communities
answering dept id	211
answering dept short name	Levelling Up, Housing and Communities
answering dept sort name	Levelling Up, Housing and Communities
hansard heading	Housing: Construction
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following reports of stabilisation and growth in the housing market, what steps they are taking to ensure that this translates into an increased housing supply, particularly in areas facing housing shortages.
tabling member printed	Lord Taylor of Warwick
uin	HL3341
answer	answer is ministerial correction date of answer 03/04/2024 answer text <p>Housebuilding is a priority for this Government, and we are on track to meet our manifesto commitment to deliver one million homes over this Parliament. In December, the revised National Planning Policy Framework was published, making clear that a core purpose of the planning system is planning for the homes and other development that our communities need. With both the Levelling Up and Regeneration Act and the new Framework now in place, alongside the additional resources for planning departments the Government has recently announced, our planning reforms will accelerate the delivery of new homes.</p><p>We are spending billions to support housebuilding, including through our £1 billion Brownfield Infrastructure and Land Fund and our £1.5 billion Levelling Up Homebuilding Fund (LUHBF). We have scaled up the delivery of affordable housing by investing £11.5 billion through the Affordable Homes Programme, which will provide thousands of new homes for rent and sale across the country.</p><p>In February, we announced that we are consulting on a range of new measures to boost housebuilding while protecting the Green Belt, through strengthening planning support for brownfield housing development. Legislation was also laid to extend current permitted development rights to support the conversion of commercial buildings of any size into new homes, and we announced an expansion of the ENABLE Build scheme to increase availability of SME finance to the sector.</p><p> </p><p> </p> answering member printed Baroness Swinburne question first answered 03/04/2024 14:23:00 answering member 4985 label Biography information for Baroness Swinburne
tabling member	1796 label Biography information for Lord Taylor of Warwick

1696357

registered interest
date	14/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Payments: Regulation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following the publication of the draft Payment Services (Amendment) Regulations 2024, what steps they are taking to introduce legal safeguards to protect consumer rights and ensure transparency in the process of delaying payments for further investigation.
tabling member printed	Lord Taylor of Warwick
uin	HL3303
answer	answer is ministerial correction date of answer 27/03/2024 answer text <p>The government takes the issue of fraud very seriously and is dedicated to protecting the public from this devastating crime.</p><p>The government has published draft legislation that allows the sending of payments to be delayed where there are reasonable grounds to suspect fraud or dishonesty, and more time is needed to contact the customer or relevant third parties.</p><p>Subject to some exceptions to ensure Payment Service Providers (PSPs) meet other legal obligations, for example around tackling financial crime, PSPs will be obliged to inform the customer, set out the reasoning behind a delay, and what information or actions are needed to enable the PSP to decide whether to execute the payment.</p><p>The government intends to introduce this legislation in summer 2024 and, subject to Parliamentary approval, for it to come into force on 7 October 2024.</p> answering member printed Baroness Vere of Norbiton question first answered 27/03/2024 11:34:25 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1696358

registered interest
date	14/03/2024
answering body	Department for Levelling Up, Housing and Communities
answering dept id	211
answering dept short name	Levelling Up, Housing and Communities
answering dept sort name	Levelling Up, Housing and Communities
hansard heading	Mortgages: Arrears
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following reports that mortgages in arrears hit a seven-year high in the final quarter of 2023, what assessment they have made of the impact on (1) housing stability, and (2) homelessness rates.
tabling member printed	Lord Taylor of Warwick
uin	HL3304
answer	answer is ministerial correction date of answer 28/03/2024 answer text <p>The Government is closely monitoring levels of arrears and repossessions, which remain low by historic standards. Affordability assessment and stress testing of mortgage applications is helping ensure households do not move into arrears.</p><p>Lenders representing over 90% of the market have agreed to our Mortgage Charter, which includes new flexibilities to help customers manage their repayments over a short period. This is helping to support vulnerable households.</p><p>Financial Conduct Authority (FCA) rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support.</p><p>The Government has also put in place measures aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans, protection in the courts through the Pre-Action Protocol, and the Housing Loss Prevention Advice Service (HLPAS).</p> answering member printed Baroness Scott of Bybrook question first answered 28/03/2024 12:50:54 answering member 4553 label Biography information for Baroness Scott of Bybrook
tabling member	1796 label Biography information for Lord Taylor of Warwick

1696359

registered interest
date	14/03/2024
answering body	Department for Environment, Food and Rural Affairs
answering dept id	13
answering dept short name	Environment, Food and Rural Affairs
answering dept sort name	Environment, Food and Rural Affairs
hansard heading	Water Companies: Billing
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following reports that water companies plan to raise customer bills by up to 70 per cent over the next five years, what assessment they have made of the impact of those rises on (1) household budgets, (2) consumer spending, and (3) overall economic stability; and what steps they are taking to mitigate any such challenges.
tabling member printed	Lord Taylor of Warwick
uin	HL3305
answer	answer is ministerial correction date of answer 02/04/2024 answer text <p>The public have made it clear clean and plentiful water supply and environmental protection is a priority. New infrastructure will need to be paid for, and while water companies can attract private investment, this will also need to come from customer bills. There is a balance to be struck in terms of priorities – ensuring there is prioritised spending on infrastructure to reduce environmental harm and secure supplies for the future without unduly hitting billpayers with a big rise.</p><p> </p><p>All water companies submitted their proposed business plans for Price Review 2024 to Ofwat in October 2023, which set out planned investment and proposed bill increases for 2025-2030. These are now undergoing scrutiny by the independent regulator Ofwat to ensure they meet the targets for environmental improvements and other obligations, whilst also offering value for money for consumers. As such, current reports of increases to bills over the next five years are not yet confirmed. Increases will be confirmed after Ofwat’s final determinations are published later this year, and new price controls will then come into force from 1st April 2025.</p><p> </p><p>We are committed to a water sector that delivers for customers, the environment and wider society, and recognise that some households may struggle to pay their water bill in full. All water companies offer reduced bills for eligible customers via the WaterSure scheme and social tariffs as well as a range of other financial support measures. We are continuing to work with industry to explore options to improve existing social tariff arrangements.</p> answering member printed Lord Douglas-Miller question first answered 02/04/2024 14:49:47 answering member 5006 label Biography information for Lord Douglas-Miller
tabling member	1796 label Biography information for Lord Taylor of Warwick

1695979

registered interest
date	13/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pay
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 slowing wage growth on household finances and consumer spending; and what steps they are taking to mitigate any negative impact.
tabling member printed	Lord Taylor of Warwick
uin	HL3264
answer	answer is ministerial correction date of answer 27/03/2024 answer text <p>Real wages have increased for seven consecutive months and are 1.1% above their pre-pandemic level.</p><p>ONS retail sales volumes increased by 3.4% on the month in January, representing a full recovery of the decline seen in December 2023.</p> answering member printed Baroness Vere of Norbiton question first answered 27/03/2024 11:35:26 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1695980

registered interest
date	13/03/2024
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Statistics
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, in the light of the recommendations of the Independent Review of the UK Statistics Authority on the separation of functions and reporting arrangements, what steps they are taking to ensure greater transparency in the governance and enhancements of the statistical system.
tabling member printed	Lord Taylor of Warwick
uin	HL3265
answer	answer is ministerial correction date of answer 27/03/2024 answer text <p>The independent review of the UK Statistics Authority and the Government’s response to the recommendations were published on 12 March 2024. They can be found here: <a href="https://www.gov.uk/government/publications/independent-review-of-the-uk-statistics-authority-uksa-2023" target="_blank">https://www.gov.uk/government/publications/independent-review-of-the-uk-statistics-authority-uksa-2023</a></p><p>The review made 19 separate recommendations to the UK Statistics Authority and Cabinet Office including amending the statistical legislation (Statistical and Registration Services Act 2007) to better reflect the governance arrangements in place and reflect the practical operation of the UKSA.</p><p>The Government agrees in principle with this recommendation but noted that - given that the report concluded the current arrangements were working in practice - this is not a current priority for legislation and will be a matter for the next Parliament to consider. However, in our response we said that the UKSA leadership in the meantime should take active steps to better communicate the current working arrangements to assure users and stakeholders that robust systems are in place to regulate the Office for National Statistics and the wider Government Statistical Service.</p><p>The Government also welcomed wider recommendations regarding transparency, such as establishing a triennial statistical assembly which will allow users and the Authority to discuss priorities in an open and constructive way.</p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 27/03/2024 17:02:55 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	1796 label Biography information for Lord Taylor of Warwick

1695981

registered interest
date	13/03/2024
answering body	Department for Energy Security and Net Zero
answering dept id	215
answering dept short name	Energy Security and Net Zero
answering dept sort name	Energy Security and Net Zero
hansard heading	Gas Fired Power Stations: Environment Protection
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 potential environmental impact and carbon emissions associated with the development of gas-fired power plants.
tabling member printed	Lord Taylor of Warwick
uin	HL3266
answer	answer is ministerial correction date of answer 22/03/2024 answer text <p>Renewables need to be complemented by flexible technologies which can provide power when the wind is not blowing, or the sun does not shine.</p><p> </p><p>The Climate Change Committee’s independent analysis finds that a power sector without unabated gas in 2035 would be “likely to increase costs and delivery risks”. Their power sector analysis sees unabated gas providing around 2% of total electricity generation in 2035.</p><p> </p><p>In the future, unabated gas plants will only run a limited number of hours per year, and we expect all new plants to be net zero ready.</p> answering member printed Lord Callanan question first answered 22/03/2024 13:07:30 answering member 4336 label Biography information for Lord Callanan
tabling member	1796 label Biography information for Lord Taylor of Warwick