{ "format" : "linked-data-api", "version" : "0.2", "result" : {"_about" : "https://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberPrinted.=Baroness+Bennett+of+Manor+Castle&answeringDeptId=14&min-date=2018-11-19&max-date=2022-07-21", "definition" : "https://eldaddp.azurewebsites.net/meta/answeredquestions.text?tablingMemberPrinted.=Baroness+Bennett+of+Manor+Castle&answeringDeptId=14&min-date=2018-11-19&max-date=2022-07-21", "extendedMetadataVersion" : "https://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberPrinted.=Baroness+Bennett+of+Manor+Castle&answeringDeptId=14&min-date=2018-11-19&max-date=2022-07-21&_metadata=all", "first" : "https://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberPrinted.=Baroness+Bennett+of+Manor+Castle&_page=0&answeringDeptId=14&min-date=2018-11-19&max-date=2022-07-21", "hasPart" : "https://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberPrinted.=Baroness+Bennett+of+Manor+Castle&answeringDeptId=14&min-date=2018-11-19&max-date=2022-07-21", "isPartOf" : "https://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberPrinted.=Baroness+Bennett+of+Manor+Castle&answeringDeptId=14&min-date=2018-11-19&max-date=2022-07-21", "items" : [{"_about" : "http://data.parliament.uk/resources/1489777", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1489777/answer", "answerText" : {"_value" : "

HM Government continually monitors developments in the global economy, including public and private debt levels, interest rates and the growth outlook, among other macroeconomic indicators.<\/p>

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Total global debt increased following the onset of the pandemic in 2020, reflecting a rise in public and private debt. Public debt increased as governments introduced fiscal support to mitigate the impact of the pandemic on livelihoods, whilst revenues fell in line with the broader decline in economic activity. This fiscal support helped maintain living standards and support global growth. Private debt has also increased, with government policies helping to maintain private access to credit to mitigate a more severe downturn.<\/p>

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Higher global debt levels can increase financial fragilities and lower growth by reducing investment. Against a backdrop of higher debt levels, rapidly rising global interest rates and higher energy and food prices may worsen balance of payment and fiscal pressures and increase risks of debt distress, particularly for some emerging and developing economies.<\/p>

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HMG works closely with major international organisations, including the IMF, World Bank, to understand how debt levels are changing, and on necessary international policy responses, including appropriate support for economies experiencing debt distress. For example, the UK has committed to channelling circa up to 20% of its allocation of Special Drawing Rights (SDRs) from the IMF\u2019s 2021 general allocation of SDRs to those countries most in need; and is driving forward the implementation of the G20/Paris Club Common Framework for debt treatment to support eligible low-income countries with unsustainable debt.<\/p>

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In the April World Economic Outlook the IMF emphasised the need for guaranteeing an orderly system for resolving debt, including the continued application of the Common Framework, where liquidity support alone is not sufficient. In the UK, public debt increased during the pandemic, in line with other countries around the world. In recognition of the risks of high debt, the UK government has already made responsible decisions which return public debt levels to a sustainable path, supported by fiscal rules which require debt to fall as a proportion of GDP over the medium-term.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4726", "label" : {"_value" : "Biography information for Baroness Penn"} } , "answeringMemberPrinted" : {"_value" : "Baroness Penn"} , "dateOfAnswer" : {"_value" : "2022-07-22", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-07-22T09:55:38.817Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-07-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Economic Situation"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government what assessment they have made of the effects of total global debt reaching 352 per cent of Gross Domestic Product in the first quarter of this year; and what steps they will take in response.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4719", "label" : {"_value" : "Biography information for Baroness Bennett of Manor Castle"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Bennett of Manor Castle"} ], "uin" : "HL1789"} , {"_about" : "http://data.parliament.uk/resources/1457020", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1457020/answer", "answerText" : {"_value" : "

The new Public Sector Fraud Authority will report to both Cabinet Office and HM Treasury. It will work with all organisations listed in the question and others. It will aim to understand and reduce both Covid-19 related and other fraud and place counter-fraud at the heart of decision-making across Government.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4726", "label" : {"_value" : "Biography information for Baroness Penn"} } , "answeringMemberPrinted" : {"_value" : "Baroness Penn"} , "dateOfAnswer" : {"_value" : "2022-04-21", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-04-21T12:34:40.187Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-04-07", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Public Sector Fraud Authority"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government how the new Public Sector Fraud Authority will coordinate its work with (1) HM Treasury, (2) HMRC, (3) the Department for Business, Energy and Industrial Strategy, (4) the Serious Fraud Office, (5) the Crown Prosecution Service, and (6) the British Business Bank, in examining (a) COVID-19 pandemic-related, and (b) other, frauds.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4719", "label" : {"_value" : "Biography information for Baroness Bennett of Manor Castle"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Bennett of Manor Castle"} ], "uin" : "HL7796"} , {"_about" : "http://data.parliament.uk/resources/1438000", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1438000/answer", "answerText" : {"_value" : "

My comments referred to the Government\u2019s membership of the International Platform on Sustainable Finance (IPSF). The IPSF is a multilateral forum between policymakers on sustainable finance regulatory measures, particularly focussed on green taxonomies. Members include authorities from 18 different jurisdictions globally, including China and the European Union. The UK became a member in February 2021. In June 2020, the EU and China initiated a Working Group on taxonomies with the objective to undertake a assessment of existing taxonomies for environmentally sustainable investments, including identifying the commonalities and differences in their respective approaches and outcomes. This resulted in the publication of a report on a common ground taxonomy in November 2021.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4726", "label" : {"_value" : "Biography information for Baroness Penn"} } , "answeringMemberPrinted" : {"_value" : "Baroness Penn"} , "dateOfAnswer" : {"_value" : "2022-03-17", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-03-17T13:19:24.573Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-03-03", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Environment Protection: Investment"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask Her Majesty's Government, further to the remarks by Baroness Penn on 2 March (HL Deb col 812) about cooperating with the government of China on a green taxonomy, what fora are these discussions are being conducted in; how any (1) progress, and (2) agreement, will be reported; and what assessment they have made of the timetable for an outcome from the process.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4719", "label" : {"_value" : "Biography information for Baroness Bennett of Manor Castle"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Bennett of Manor Castle"} ], "uin" : "HL6598"} , {"_about" : "http://data.parliament.uk/resources/1307723", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1307723/answer", "answerText" : {"_value" : "

HMRC estimate that the tax gap across Large Businesses \u2013 which is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid by the UK\u2019s largest businesses across all sectors \u2013 has continued to fall over the last five years and was under 1% for 2018-19 (reported by the NAO in \u2018Tackling the Tax Gap\u2019 in July 2020).<\/p>

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The UK has led international efforts to tackle avoidance by all multinationals through the OECD Base Erosion and Profit Shifting (\u201cBEPS\u201d) Project which looks at aggressive tax planning strategies that exploit tax rules to artificially shift profits to low tax jurisdictions where there is little or no economic activity.<\/p>

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This international collaboration has led to the introduction of:<\/p>

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