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1010098
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Poverty more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what plans they have to publish a response to the Statement on the Visit to the UK by the UN Special Rapporteur on extreme poverty and human rights, published on 16 November. more like this
star this property tabling member printed
Lord Bassam of Brighton more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin HL11545 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-11-28more like thisremove minimum value filter
star this property answer text <p>The Government will consider the Special Rapporteur’s findings carefully. Although it disagrees with the conclusion of this interim report, the Government has noted that the report welcomes the simplification of the benefits system brought in by Universal Credit and the recent Budget announcements to help tackle in-work poverty.</p><p>The 14 million people in poverty figure used by the Special Rapporteur was taken from the Social Metrics Commission report “A new measure of poverty for the UK”.</p><p> </p><p>We welcome the work that the Social Metrics Commission has done. Measuring poverty is complex, and this report offers further insight into that complexity. We are engaging with the Social Metrics Commission, who acknowledge that further work needs to be done (particularly around data availability and quality). We will carefully consider their recommendations and the detail behind the methodology they have employed when this has been made available.</p><p> </p><p>DWP publishes a range of measures that track various aspects of poverty. These include four measures for low income poverty:</p><p> </p><table><tbody><tr><td><p> </p></td><td colspan="2"><p>Number of people in low income (millions)</p></td><td colspan="2"><p>Percentage of people in low income (%)</p></td></tr><tr><td><p>Low Income Measure</p></td><td><p>2009/10</p></td><td><p>2016/17</p></td><td><p>2009/10</p></td><td><p>2016/17</p></td></tr><tr><td><p>Relative Before Housing Costs</p></td><td><p>10.4</p></td><td><p>10.4</p></td><td><p>17</p></td><td><p>16</p></td></tr><tr><td><p>Relative After Housing Cost</p></td><td><p>13.6</p></td><td><p>14.3</p></td><td><p>22</p></td><td><p>22</p></td></tr><tr><td><p>Absolute Before Housing Costs</p></td><td><p>9.9</p></td><td><p>8.9</p></td><td><p>16</p></td><td><p>14</p></td></tr><tr><td><p>Absolute After Housing Costs</p></td><td><p>13.1</p></td><td><p>12.4</p></td><td><p>21</p></td><td><p>19</p></td></tr></tbody></table><p> </p><p>The finding relating to the number of people in destitution is a misinterpretation of the key finding from a report published by the Joseph Rowntree Trust on 7 June, 2018: “Destitution in the UK, 2018”. This report found that 1.5 million people in the UK had been destitute at some point during 2017 and also noted that this was a reduction of 25 per cent compared with 2015.</p><p> </p><p>Under this Government, income inequality has fallen and remains lower than in 2010; the number of children in workless households is at a record low; and there are 1 million fewer people in absolute poverty (before housing costs) compared with 2010, including 300,000 children.</p>
star this property answering member printed Baroness Buscombe more like this
star this property grouped question UIN
HL11546 more like this
HL11547 more like this
star this property question first answered
less than 2018-11-28T11:45:12.607Zmore like thismore than 2018-11-28T11:45:12.607Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
3504
star this property label Biography information for Lord Bassam of Brighton more like this
1010099
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Poverty more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the accuracy of the finding by the UN Special Rapporteur on extreme poverty and human rights that 14 million people live in poverty in the UK. more like this
star this property tabling member printed
Lord Bassam of Brighton more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin HL11546 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-11-28more like thisremove minimum value filter
star this property answer text <p>The Government will consider the Special Rapporteur’s findings carefully. Although it disagrees with the conclusion of this interim report, the Government has noted that the report welcomes the simplification of the benefits system brought in by Universal Credit and the recent Budget announcements to help tackle in-work poverty.</p><p>The 14 million people in poverty figure used by the Special Rapporteur was taken from the Social Metrics Commission report “A new measure of poverty for the UK”.</p><p> </p><p>We welcome the work that the Social Metrics Commission has done. Measuring poverty is complex, and this report offers further insight into that complexity. We are engaging with the Social Metrics Commission, who acknowledge that further work needs to be done (particularly around data availability and quality). We will carefully consider their recommendations and the detail behind the methodology they have employed when this has been made available.</p><p> </p><p>DWP publishes a range of measures that track various aspects of poverty. These include four measures for low income poverty:</p><p> </p><table><tbody><tr><td><p> </p></td><td colspan="2"><p>Number of people in low income (millions)</p></td><td colspan="2"><p>Percentage of people in low income (%)</p></td></tr><tr><td><p>Low Income Measure</p></td><td><p>2009/10</p></td><td><p>2016/17</p></td><td><p>2009/10</p></td><td><p>2016/17</p></td></tr><tr><td><p>Relative Before Housing Costs</p></td><td><p>10.4</p></td><td><p>10.4</p></td><td><p>17</p></td><td><p>16</p></td></tr><tr><td><p>Relative After Housing Cost</p></td><td><p>13.6</p></td><td><p>14.3</p></td><td><p>22</p></td><td><p>22</p></td></tr><tr><td><p>Absolute Before Housing Costs</p></td><td><p>9.9</p></td><td><p>8.9</p></td><td><p>16</p></td><td><p>14</p></td></tr><tr><td><p>Absolute After Housing Costs</p></td><td><p>13.1</p></td><td><p>12.4</p></td><td><p>21</p></td><td><p>19</p></td></tr></tbody></table><p> </p><p>The finding relating to the number of people in destitution is a misinterpretation of the key finding from a report published by the Joseph Rowntree Trust on 7 June, 2018: “Destitution in the UK, 2018”. This report found that 1.5 million people in the UK had been destitute at some point during 2017 and also noted that this was a reduction of 25 per cent compared with 2015.</p><p> </p><p>Under this Government, income inequality has fallen and remains lower than in 2010; the number of children in workless households is at a record low; and there are 1 million fewer people in absolute poverty (before housing costs) compared with 2010, including 300,000 children.</p>
star this property answering member printed Baroness Buscombe more like this
star this property grouped question UIN
HL11545 more like this
HL11547 more like this
star this property question first answered
less than 2018-11-28T11:45:12.66Zmore like thismore than 2018-11-28T11:45:12.66Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
3504
star this property label Biography information for Lord Bassam of Brighton more like this
1010100
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Poverty more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the accuracy of the finding by the UN Special Rapporteur on extreme poverty and human rights that 1.5 million people in the UK are destitute. more like this
star this property tabling member printed
Lord Bassam of Brighton more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin HL11547 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-11-28more like thisremove minimum value filter
star this property answer text <p>The Government will consider the Special Rapporteur’s findings carefully. Although it disagrees with the conclusion of this interim report, the Government has noted that the report welcomes the simplification of the benefits system brought in by Universal Credit and the recent Budget announcements to help tackle in-work poverty.</p><p>The 14 million people in poverty figure used by the Special Rapporteur was taken from the Social Metrics Commission report “A new measure of poverty for the UK”.</p><p> </p><p>We welcome the work that the Social Metrics Commission has done. Measuring poverty is complex, and this report offers further insight into that complexity. We are engaging with the Social Metrics Commission, who acknowledge that further work needs to be done (particularly around data availability and quality). We will carefully consider their recommendations and the detail behind the methodology they have employed when this has been made available.</p><p> </p><p>DWP publishes a range of measures that track various aspects of poverty. These include four measures for low income poverty:</p><p> </p><table><tbody><tr><td><p> </p></td><td colspan="2"><p>Number of people in low income (millions)</p></td><td colspan="2"><p>Percentage of people in low income (%)</p></td></tr><tr><td><p>Low Income Measure</p></td><td><p>2009/10</p></td><td><p>2016/17</p></td><td><p>2009/10</p></td><td><p>2016/17</p></td></tr><tr><td><p>Relative Before Housing Costs</p></td><td><p>10.4</p></td><td><p>10.4</p></td><td><p>17</p></td><td><p>16</p></td></tr><tr><td><p>Relative After Housing Cost</p></td><td><p>13.6</p></td><td><p>14.3</p></td><td><p>22</p></td><td><p>22</p></td></tr><tr><td><p>Absolute Before Housing Costs</p></td><td><p>9.9</p></td><td><p>8.9</p></td><td><p>16</p></td><td><p>14</p></td></tr><tr><td><p>Absolute After Housing Costs</p></td><td><p>13.1</p></td><td><p>12.4</p></td><td><p>21</p></td><td><p>19</p></td></tr></tbody></table><p> </p><p>The finding relating to the number of people in destitution is a misinterpretation of the key finding from a report published by the Joseph Rowntree Trust on 7 June, 2018: “Destitution in the UK, 2018”. This report found that 1.5 million people in the UK had been destitute at some point during 2017 and also noted that this was a reduction of 25 per cent compared with 2015.</p><p> </p><p>Under this Government, income inequality has fallen and remains lower than in 2010; the number of children in workless households is at a record low; and there are 1 million fewer people in absolute poverty (before housing costs) compared with 2010, including 300,000 children.</p>
star this property answering member printed Baroness Buscombe more like this
star this property grouped question UIN
HL11545 more like this
HL11546 more like this
star this property question first answered
less than 2018-11-28T11:45:12.707Zmore like thismore than 2018-11-28T11:45:12.707Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
3504
star this property label Biography information for Lord Bassam of Brighton more like this
1010130
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading British Nationals Abroad: Italy more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what arrangements they are making for UK citizens to be able to retire to Italy after the UK has left the European Union; and what advice, if any, they provide to those who wish to do so. more like this
star this property tabling member printed
Lord Jones of Cheltenham more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin HL11577 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-12-03more like thismore than 2018-12-03
star this property answer text <p>The Agreement and Political declaration on future relations with the EU marks a significant step forward regarding the UK’s relationship with the EU after we exit the European Union. We have agreed in principle the terms of the UK’s smooth and orderly exit from the EU, as set out in the Withdrawal Agreement. We have also agreed the broad terms of our future relationship as set out in the outline Political Declaration which includes defined elements of social security coordination.</p> more like this
star this property answering member printed Baroness Buscombe more like this
star this property question first answered
less than 2018-12-03T15:15:21.643Zmore like thismore than 2018-12-03T15:15:21.643Z
star this property answering member
3349
star this property label Biography information for Baroness Buscombe more like this
star this property tabling member
248
star this property label Biography information for Lord Jones of Cheltenham more like this
1010205
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Social Security Benefits more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Work and Pensions, what estimate she has made of the number of people who have ceased to claim income-related benefits in the most recent 12 months for which data is available; and for what reasons those people ceased to make such claims. more like this
star this property tabling member constituency Birkenhead more like this
star this property tabling member printed
Frank Field more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 192727 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-12-03more like thismore than 2018-12-03
star this property answer text <p>The information requested for those moving off income-related benefits is only available for Jobseeker’s Allowance. It is not readily available and could only be provided at disproportionate cost for other income related benefits.</p><p> </p><p>The available information which shows the number of off-flows and reasons from the Jobseeker’s Allowance (JSA) claimant count is published at: <a href="https://www.nomisweb.co.uk/default.asp" target="_blank">https://www.nomisweb.co.uk/default.asp</a></p><p> </p><p>Guidance for users can be found at: <a href="https://www.nomisweb.co.uk/home/newuser.asp" target="_blank">https://www.nomisweb.co.uk/home/newuser.asp</a></p> more like this
star this property answering member constituency Reading West more like this
star this property answering member printed Alok Sharma more like this
star this property question first answered
less than 2018-12-03T11:52:22.367Zmore like thismore than 2018-12-03T11:52:22.367Z
star this property answering member
4014
star this property label Biography information for Sir Alok Sharma more like this
star this property tabling member
478
star this property label Biography information for Lord Field of Birkenhead more like this
1010207
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Universal Credit more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Work and Pensions, how many and what proportion of new claims for universal credit were processed (a) within five weeks, (b) between five and ten weeks and (c) in ten weeks or longer in the most recent 12 months for which data are available. more like this
star this property tabling member constituency Birkenhead more like this
star this property tabling member printed
Frank Field more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 192729 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-12-03more like thismore than 2018-12-03
star this property answer text <p>We published statistics on payment timeliness for new claims on 9 July 2018 which found 95 per cent of eligible claims (new claims that were due a payment in February 2018) were paid in full within five weeks of the payment due date.</p><p><strong> </strong></p><p>Our latest internal data shows that for claims due their first payment in July 2018, 94 per cent of claims were paid in full within five weeks of the payment due date, with close to 99 per cent receiving at least a partial payment. Further details for claimants due their first payment in July 2018 can be seen in the table below. Subject to some fluctuation, this has been broadly consistent for every month for which the data has been requested.</p><p> </p><table><tbody><tr><td><p> </p></td><td><p>Within 5 weeks of payment due date</p></td><td><p>6-10 weeks after payment due date</p></td><td><p>More than 10 weeks after payment due date</p></td></tr><tr><td><p>Received Payment in Full</p></td><td><p>94.3%</p></td><td><p>3.1%</p></td><td><p>2.6%</p></td></tr><tr><td><p>Received a Partial Payment</p></td><td><p>98.6%</p></td><td><p>1.0%</p></td><td><p>0.4%</p></td></tr></tbody></table><p>In many cases where full payment is not made on time, it is due to unresolved issues such as: claimants not accepting their Claimant Commitment or passing identity checks, satisfying the Habitual Residency Test, or having outstanding verification issues, such as housing costs and self-employed earnings.</p>
star this property answering member constituency Reading West more like this
star this property answering member printed Alok Sharma more like this
star this property question first answered
less than 2018-12-03T12:36:55.38Zmore like thismore than 2018-12-03T12:36:55.38Z
star this property answering member
4014
star this property label Biography information for Sir Alok Sharma more like this
star this property tabling member
478
star this property label Biography information for Lord Field of Birkenhead more like this
1010208
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Social Security Benefits more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Work and Pensions, how many people applied (a) successfully and (b) unsuccessfully for short term benefit advance or advance payments in the most recent 12 months for which data are available. more like this
star this property tabling member constituency Birkenhead more like this
star this property tabling member printed
Frank Field more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 192730 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-12-18more like thismore than 2018-12-18
star this property answer text <p>Around 60% of eligible new claims to Universal Credit received an advance in October 2018. Subject to some fluctuation, this has been broadly consistent for every month for which the data has been requested.</p><p> </p><p>There were 98,250 Short Term Benefit Advances for Employment and Support Allowance, Incapacity Benefit, Jobseeker’s Allowance and Income Support awarded to individual national insurance numbers in Great Britain between January and December 2017. On the number of applications, this information is not readily available and could only be provided at disproportionate cost.</p> more like this
star this property answering member constituency Reading West more like this
star this property answering member printed Alok Sharma more like this
star this property question first answered
less than 2018-12-18T17:31:51.57Zmore like thismore than 2018-12-18T17:31:51.57Z
star this property answering member
4014
star this property label Biography information for Sir Alok Sharma more like this
star this property tabling member
478
star this property label Biography information for Lord Field of Birkenhead more like this
1010212
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Social Security Benefits: Telephone Services more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Work and Pensions, what the (a) shortest, (b) longest and (c) average waiting times for calls to each of her Department's benefit telephone lines were in each of the last 18 months for which data are available. more like this
star this property tabling member constituency Birkenhead more like this
star this property tabling member printed
Frank Field more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 192734 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-12-04more like thismore than 2018-12-04
star this property answer text <p>The table below provides the average waiting times for the benefit telephone lines for comparison with PQ<a href="https://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2018-05-08/141701/" target="_blank">141701</a>.</p><p> </p><p>The information is for the most recent 18 month period in which data is available for, May 2017 to October 2018.</p><p> </p><p>We are aware of a potential issue, which is being investigated, whereby a call could be terminated by a customer but potentially remain in the system and continue to be recorded as a ‘live call’. This issue produces statistical anomalies which impact on the reliability of the data available.</p><p> </p><p>Average Speed of Answer</p><p> </p><table><tbody><tr><td><p> </p></td><td><p>Last 18 Months</p></td><td><p>October 2018</p></td></tr><tr><td><p>National DLA Adult</p></td><td><p>00:03:26</p></td><td><p>00:04:51</p></td></tr><tr><td><p>Employment and Support Allowance Enquiry</p></td><td><p>00:15:19</p></td><td><p>00:11:30</p></td></tr><tr><td><p>Jobseekers Allowance Enquiry English</p></td><td><p>00:08:51</p></td><td><p>00:03:43</p></td></tr><tr><td><p>Income Support Enquiry</p></td><td><p>00:08:38</p></td><td><p>00:11:07</p></td></tr><tr><td><p>Jobcentre Enquiry Line</p></td><td><p>00:06:05</p></td><td><p>00:04:48</p></td></tr><tr><td><p>Personal Independence Payment</p></td><td><p>00:05:31</p></td><td><p>00:06:46</p></td></tr><tr><td><p>Universal Credit Live Service</p></td><td><p>00:09:17</p></td><td><p>00:16:26</p></td></tr><tr><td><p>Universal Credit Full Service</p></td><td><p>00:05:01</p></td><td><p>00:03:58</p></td></tr></tbody></table><p> </p><p>The information requested regarding the shortest and longest wait time could only be provided at disproportionate cost.</p><p> </p><p>Please Note:</p><p> </p><p>Data Source: BT - OPMIS and Historical Management Information (GI2 – HMI)</p><p>The data supplied is derived from unpublished management information, which was collected for internal Departmental use only and has not been quality assured to National Statistics or Official Statistics publication standard. The data should therefore be treated with caution.</p>
star this property answering member constituency North Swindon more like this
star this property answering member printed Justin Tomlinson more like this
star this property question first answered
less than 2018-12-04T16:33:04.083Zmore like thismore than 2018-12-04T16:33:04.083Z
star this property answering member
4105
star this property label Biography information for Justin Tomlinson more like this
star this property tabling member
478
star this property label Biography information for Lord Field of Birkenhead more like this
1010330
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Department for Work and Pensions more like this
star this property answering dept id 29 more like this
star this property answering dept short name Work and Pensions more like this
star this property answering dept sort name Work and Pensions more like this
star this property hansard heading Universal Credit more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Secretary of State for Work and Pensions, what estimate her Department has made of the effect of delaying managed migration of existing social security claimants to universal credit on the cost to the public purse of universal credit transitional protection; and whether those estimates constitute a saving to the public purse. more like this
star this property tabling member constituency Kensington more like this
star this property tabling member printed
Emma Dent Coad more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 192949 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-12-13more like thismore than 2018-12-13
star this property answer text <p>It is not possible to disaggregate the spending impact of delaying managed migration. HM Treasury did publish an overall spending impact of the budget changes, which can be accessed at:</p><p> </p><p><a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752208/Budget_2018_policy_costings_PDF.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752208/Budget_2018_policy_costings_PDF.pdf</a>.</p> more like this
star this property answering member constituency Reading West more like this
star this property answering member printed Alok Sharma more like this
star this property question first answered
less than 2018-12-13T14:47:53.64Zmore like thismore than 2018-12-13T14:47:53.64Z
star this property answering member
4014
star this property label Biography information for Sir Alok Sharma more like this
star this property tabling member
4683
star this property label Biography information for Emma Dent Coad more like this
1010106
star this property registered interest false more like this
star this property date remove filter
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Insolvency more like this
star this property house id 2 more like this
star this property legislature
25277
star this property pref label House of Lords more like this
star this property question text To ask Her Majesty's Government what assessment they have made of the impact of the announcement in the 2018 Budget of making HMRC a secondary preferential creditor in insolvency on (1) secured creditors, (2) floating charge holders, and (3) unsecured creditors such as pension funds and small businesses. more like this
star this property tabling member printed
Baroness Burt of Solihull more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin HL11553 more like this
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answer
star this property is ministerial correction false more like this
star this property date of answer less than 2018-12-03more like thismore than 2018-12-03
star this property answer text <p>The government does not expect this reform to significantly impact access to finance or the cost of borrowing.</p><p>The independent OBR did not make any adjustments to their economic forecast in regard to this measure.</p><p>At Budget 2018, the Government published the following assessment:</p><table><tbody><tr><td><p>Type of Creditor</p></td><td><p>Explanation and Examples</p></td><td><p>Current Average Percentage of Debt Recovered in Insolvency</p></td><td><p>New Average Percentage of Debt Recovered in Insolvency</p></td></tr><tr><td><p><ol><li>Fixed charge secured creditors</li></ol></p></td><td><p>Lenders to whom the business granted security, primarily financial institutions. When a fixed charge is provided, the company loses the right to sell or trade the item. These assets tend to be fundamental to the business; for example, machinery, property or vehicles.</p></td><td><p>36%</p></td><td><p>36% (unchanged)</p></td></tr><tr><td><p><ol start="2"><li>Insolvency practitioners</li></ol></p></td><td><p>Fees for overseeing the process.</p></td><td><p>As charged</p></td><td><p>As charged</p></td></tr><tr><td><p><ol start="3"><li>Preferential Creditors</li></ol></p></td><td><p>Claims by the Redundancy Payment Service (RPS) and Financial Services Compensation Scheme (FSCS) on behalf of employees and customers (to statutory limits); and from 2020, HMRC will be a secondary preferential creditor (below the RPS and FSCS) for Value-Added Tax, Employee National Insurance contributions, Pay-As-You-Earn Income Tax and Construction Industry Scheme Deductions.</p></td><td><p>83%</p></td><td><p>83% (unchanged) for existing preferential creditors; 14% for HMRC</p></td></tr><tr><td><p><ol start="4"><li>Floating charge secured creditors</li></ol></p></td><td><p>Lenders for whom the company is not granted security, primarily financial institutions. This tends t be the case in relation to assets that are not fixed; for example, stocks, raw materials, fixtures and fittings or cash.</p></td><td><p>36%</p></td><td><p>Less than 36%</p></td></tr><tr><td><p><ol start="5"><li>Unsecured creditors</li></ol></p></td><td><p>All remaining creditors, including HMRC debts levied directly on businesses; and debts owed to suppliers, contractors, landlords and customers.</p></td><td><p>4%</p></td><td><p>Less than 4%</p></td></tr><tr><td><p><ol start="6"><li>Shareholder</li></ol></p></td><td><p>Only get paid if all the above creditors are paid in full.</p></td><td><p>N/A</p></td><td><p>N/A</p></td></tr></tbody></table><p><strong> </strong></p><p> </p>
star this property answering member printed Lord Bates more like this
star this property grouped question UIN
HL11554 more like this
HL11555 more like this
star this property question first answered
less than 2018-12-03T14:50:03.893Zmore like thismore than 2018-12-03T14:50:03.893Z
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1091
star this property label Biography information for Lord Bates more like this
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1567
star this property label Biography information for Baroness Burt of Solihull more like this