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179228

registered interest
date	11/02/2015
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Ministers
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether it is routine policy for the Cabinet Office to contact HM Revenue and Customs to consult it prior to the appointment of a non-elected Minister.
tabling member printed	Lord Myners
uin	HL4965
answer	answer is ministerial correction date of answer 25/02/2015 answer text <p>As was the case under previous administrations, ministerial appointments are a matter for the Prime Minister, in line with the Ministerial Code.</p><p> </p><p>For those individuals upon whom the Prime Minister wishes to confer a life peerage, the independent House of Lords Appointments Commission vets nominations. For those individuals upon whom the Prime Minister wishes to confer a peerage in order that they might sit in the House of Lords to take up a ministerial role, the Commission consults the main regulatory authorities, including HMRC, before giving advice.</p><p> </p> answering member printed Baroness Stowell of Beeston grouped question UIN HL5022 question first answered 25/02/2015 16:09:09 answering member 4205 label Biography information for Baroness Stowell of Beeston
tabling member	3869 label Biography information for Lord Myners

178879

registered interest
date	10/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Switzerland
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government which were the 10 jurisdictions into which closed bank accounts held in Switzerland by United Kingdom residents were transferred according to information provided to them by the Swiss National Bank.
tabling member printed	Lord Myners
uin	HL4893
answer	answer is ministerial correction date of answer 12/03/2015 answer text <p>HL4893</p><p> </p><p> </p><p> </p><p>Under the Swiss Agreement HMRC received a list of the top 10 destinations to where funds were moved in the period before the Agreement came into force. They are using this information together with information from compliance work to follow the proceeds of tax evasion.</p><p> </p><p> </p><p> </p><p>As with Lichtenstein agreement signed in 2009, HMRC is legally restricted by the Agreement’s terms from publishing the information provided.</p><p> </p><p> </p><p> </p><p>HL4896</p><p> </p><p> </p><p> </p><p>Where there is evidence of collusion in tax evasion or other wrongdoing, the relevant law enforcement agency would assess that evidence and decide whether to pursue an investigation.</p><p> </p><p>HMRC received the data from the French in April 2010 under very strict international treaty conditions, which limited its use to tax purposes only and prevented HMRC from sharing the data with other law enforcement authorities for investigating other potential offences.</p><p> </p><p>HMRC first asked for the conditions to be relaxed in August 2010. Following a number of more recent representations, the French authorities gave written confirmation on 23 February 2015 that they were lifting restrictions on the use and sharing of the data with other law enforcement agencies and regulators for the purpose of investigating criminal offences.</p><p> </p><p>As a result, HMRC has recently held a multi-agency meeting to discuss how the stolen HSBC Suisse data can be shared with them.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL4896 question first answered 12/03/2015 17:10:12 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

178881

registered interest
date	10/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	HSBC
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what regulatory actions were taken in the United Kingdom in connection with HSBC as a consequence of the fines imposed in the United States in response to its involvement in money laundering on behalf of Mexican drug cartels.
tabling member printed	Lord Myners
uin	HL4894
answer	answer is ministerial correction date of answer 12/03/2015 answer text <p>I can confirm to the Noble Lord that the information I provided him in response to his written question answered on 17th June 2013 remains accurate:</p><p> </p><p> </p><p> </p><p>US investigations and enforcement action on HSBC focused on their subsidiaries in the US. The Financial Conduct Authority (FCA) has no direct supervisory remit over these HSBC entities.</p><p> </p><p> </p><p> </p><p>However, in conjunction with the action taken by the US, the (then) FSA, as lead regulator for the HSBC Group globally, made a number of requirements of HSBC Holdings plc, designed to ensure that all parts of the HSBC Group are compliant with the relevant legal and regulatory requirements across the Group to prevent similar failings occurring in future.</p><p> </p><p> </p><p> </p><p>This included requiring a committee of the HSBC Board to oversee matters relating to anti-money laundering, sanctions, terrorist financing and proliferation financing; requiring the Group to revise its policies and procedures to ensure that all parts of the HSBC Group are subject to standards equivalent to those required under UK requirements; HSBC employing an independent monitor to oversee the Group's compliance with UK anti-money laundering, sanctions, terrorist financing and proliferation financing requirements and to provide independent reporting to the HSBC Board committee and regulators. HSBC Holdings was also required to appoint a Group Money Laundering Reporting Officer (MLRO), with responsibility for ensuring that systems and controls are in place across the Group.</p><p> </p><p> </p><p> </p><p>The FCA is closely monitoring the implementation of these requirements by HSBC.</p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 12/03/2015 17:23:35 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

178882

registered interest
date	10/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	HSBC
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether Lord Green of Hurstpierpoint was made aware of the information forwarded to them by the government of France on alleged tax evasion made possible by HSBC.
tabling member printed	Lord Myners
uin	HL4895
answer	answer is ministerial correction date of answer 12/03/2015 answer text <p>Due to the longstanding legal requirements for taxpayer confidentiality, Ministers are not made aware of invidual tax cases. At no point were Ministers made aware of any suggestion of wrong doing by HSBC itself.</p> answering member printed Lord Deighton question first answered 12/03/2015 17:10:23 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

178884

registered interest
date	10/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Tax Evasion
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government what actions they plan to take in connection with bankers who colluded in tax evasion or oversaw those perpetrating collusion.
tabling member printed	Lord Myners
uin	HL4896
answer	answer is ministerial correction date of answer 12/03/2015 answer text <p>HL4893</p><p> </p><p> </p><p> </p><p>Under the Swiss Agreement HMRC received a list of the top 10 destinations to where funds were moved in the period before the Agreement came into force. They are using this information together with information from compliance work to follow the proceeds of tax evasion.</p><p> </p><p> </p><p> </p><p>As with Lichtenstein agreement signed in 2009, HMRC is legally restricted by the Agreement’s terms from publishing the information provided.</p><p> </p><p> </p><p> </p><p>HL4896</p><p> </p><p> </p><p> </p><p>Where there is evidence of collusion in tax evasion or other wrongdoing, the relevant law enforcement agency would assess that evidence and decide whether to pursue an investigation.</p><p> </p><p>HMRC received the data from the French in April 2010 under very strict international treaty conditions, which limited its use to tax purposes only and prevented HMRC from sharing the data with other law enforcement authorities for investigating other potential offences.</p><p> </p><p>HMRC first asked for the conditions to be relaxed in August 2010. Following a number of more recent representations, the French authorities gave written confirmation on 23 February 2015 that they were lifting restrictions on the use and sharing of the data with other law enforcement agencies and regulators for the purpose of investigating criminal offences.</p><p> </p><p>As a result, HMRC has recently held a multi-agency meeting to discuss how the stolen HSBC Suisse data can be shared with them.</p><p> </p> answering member printed Lord Deighton grouped question UIN HL4893 question first answered 12/03/2015 17:10:12 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

178886

registered interest
date	10/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Tax Havens
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they intend to ban United Kingdom banks from operating branches or subsidiaries in offshore tax havens; and whether United Kingdom regulators have any regulatory responsibility for those banks, their management or those in the United Kingdom who supervise such activities.
tabling member printed	Lord Myners
uin	HL4897
answer	answer is ministerial correction date of answer 12/03/2015 answer text <p>The Government does not impose restrictions on where UK banks can operate overseas. However, the UK has championed international tax transparency and through our G8 Presidency has driven the agreement and early implementation of the new global standard for automatic exchange of financial information for tax purposes. To date over 90 countries have committed to exchange such information on a multilateral basis. The UK also remains committed to ensuring that there are effective anti-avoidance rules in place to protect the UK corporation tax base.</p><p> </p><p> </p><p> </p><p>This includes the introduction of new Controlled Foreign Company rules (effective from the beginning of 2013) which help to deter and prevent artificial diversion of profits from the UK.</p><p> </p><p> </p><p> </p><p>It also includes supporting the G20-OECD Base Erosion and Profit Shifting project which is looking to address weaknesses in international tax rules which allow companies to avoid paying tax on their profits.</p><p> </p><p> </p><p> </p><p>The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) are the UK financial services regulators. The role of the FCA and PRA in regulating overseas branches and subsidiaries of UK banks is dependent on the specific circumstances of an individual case.</p><p> </p><p> </p><p> </p><p>However, I have asked the FCA and the PRA to reply directly to the Noble Lord by letter to explain their role in this area. A copy of the letter will be placed in the Library of the House.</p><p> </p><p> </p><p> </p> answering member printed Lord Deighton question first answered 12/03/2015 17:23:44 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

178888

registered interest
date	10/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they have plans to consider setting the inflation target over an extended period, rather than a single year, in order to allow some catch-up for an extended period of under-target outcomes.
tabling member printed	Lord Myners
uin	HL4898
answer	answer is ministerial correction date of answer 24/02/2015 answer text <p>The Bank of England Act 1998 requires the Treasury to specify the objectives of the Monetary Policy Committee, namely what price stability is taken to consist of and the Government’s economic policy objective at least once every 12 months.</p><p> </p><p> </p><p> </p><p>At Budget 2013, the Government reviewed the UK’s flexible inflation targeting monetary policy framework in international and historical context.</p><p> </p><p> </p><p> </p><p>Based on the assessment set out in the review, the Government believes that low and stable medium-term inflation is a necessary, though not sufficient, pre-requisite for economic prosperity. As a result, in the remit for the independent Monetary Policy Committee of the Bank of England, the Government has retained a flexible inflation targeting framework and reaffirmed the 2 per cent Consumer Prices Index inflation target, which applies at all times. The Government updated the remit to clarify the trade-offs that are involved in setting monetary policy to meet a forward-looking inflation target.</p><p> </p> answering member printed Lord Deighton question first answered 24/02/2015 17:55:41 answering member 4262 label Biography information for Lord Deighton
tabling member	3869 label Biography information for Lord Myners

175415

registered interest
date	23/01/2015
answering body	Department for Business, Innovation and Skills
answering dept id	26
answering dept short name	Business, Innovation and Skills
answering dept sort name	Business, Innovation and Skills
hansard heading	Bank Services: St Agnes
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether they will take steps to ensure the continued presence of commercial retail banking services in St Agnes, Cornwall; and whether they will investigate proposals by Barclays to close the only remaining retail banking branch in that area.
tabling member printed	Lord Myners
uin	HL4401
answer	answer is ministerial correction date of answer 09/02/2015 answer text <p>Officials at the Department for Business have discussed with Barclays the rationale for the proposed closure of its branch in St Agnes. Ultimately, however, the decision on whether to retain a branch in the town is a matter for the management of the bank who will need to balance customer interests, market competition and other commercial factors.</p><p> </p><p> </p><p> </p><p>The Government, nonetheless, recognises that bank branch closures can have a significant impact on customers, particularly vulnerable customers such as the elderly, the disabled, those on low incomes, and small businesses. It is therefore pressing the banking sector to finalise a new branch closure protocol.</p><p> </p><p> </p><p> </p><p>The Government is also clear that there is an important role to play for Post Office in maintaining communities’ physical access to banking services. Barclays (and most other banks) have commercial arrangements in place with Post Office allowing personal current account customers to withdraw money and deposit cash and cheques at Post Office branches, including the one in St Agnes. Approximately 95% of UK personal account customers are already able to access banking services at the Post Office, and negotiations are underway to increase this coverage to closer to 100%.</p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member printed Baroness Neville-Rolfe question first answered 09/02/2015 17:24:47 answering member 4284 label Biography information for Baroness Neville-Rolfe
tabling member	3869 label Biography information for Lord Myners

175357

registered interest
date	22/01/2015
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Iraq Committee of Inquiry
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government when the rules for Maxwellisation were last reviewed; by whom they were prepared; where they can be seen; and what the consequences would be if the Chilcot Review were published with outstanding complaints from those criticised not addressed.
tabling member printed	Lord Myners
uin	HL4360
answer	answer is ministerial correction date of answer 05/02/2015 answer text <p>The Maxwellisation process is a matter for the Inquiry; Sir John Chilcot has described the process as essential and confidential, and to comment further might jeopardise the confidentiality of the process. Once his report is complete, Sir John Chilcot will deliver it to the Prime Minister. It is for Government to publish the report, and once it is delivered we expect to publish without delay.</p><p> </p><p>The daily fees for the Chair and Members of the Inquiry are published on the Inquiry’s website.</p><p> </p> answering member printed Lord Wallace of Saltaire grouped question UIN HL4361 HL4362 question first answered 05/02/2015 16:48:20 answering member 1816 label Biography information for Lord Wallace of Saltaire
tabling member	3869 label Biography information for Lord Myners

175358

registered interest
date	22/01/2015
answering body	Cabinet Office
answering dept id	53
answering dept short name	Cabinet Office
answering dept sort name	Cabinet Office
hansard heading	Iraq Committee of Inquiry
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty’s Government whether Sir John Chilcot requires permission from Her Majesty’s Government to publish his report on Iraq.
tabling member printed	Lord Myners
uin	HL4361
answer	answer is ministerial correction date of answer 05/02/2015 answer text <p>The Maxwellisation process is a matter for the Inquiry; Sir John Chilcot has described the process as essential and confidential, and to comment further might jeopardise the confidentiality of the process. Once his report is complete, Sir John Chilcot will deliver it to the Prime Minister. It is for Government to publish the report, and once it is delivered we expect to publish without delay.</p><p> </p><p>The daily fees for the Chair and Members of the Inquiry are published on the Inquiry’s website.</p><p> </p> answering member printed Lord Wallace of Saltaire grouped question UIN HL4360 HL4362 question first answered 05/02/2015 16:48:21 answering member 1816 label Biography information for Lord Wallace of Saltaire
tabling member	3869 label Biography information for Lord Myners