Results 21–40 of 1212 for speaker:Lord Deighton

Budget Statement — Motion to Take Note (25 Mar 2015)

Lord Deighton: The Government’s strategy is crystal clear. The benefit of getting the deficit under control is absolutely worth it in terms of fixing the roof while the sun is shining. That is the philosophy. To do it over a two-year period and to get control of our public finances so that we can then grow and focus on, for example, the productivity argument I shall speak about in a minute is the critical...

Budget Statement — Motion to Take Note (25 Mar 2015)

Lord Deighton: That is consistent with my earlier response, that we did not have that choice because the markets would not have allowed us to continue with the scale of deficit we had. Many noble Lords made very useful and interesting contributions on the housing market: the noble Lords, Lord McKenzie, Lord Best, Lord McFall, Lord Whitty, the noble Baroness, Lady Valentine, and the noble Lord, Lord Graham,...

Budget Statement — Motion to Take Note (25 Mar 2015)

Lord Deighton: There is a deficit on the balance of trade, although the most recent figures two weeks ago were the strongest that they have been for a very long time. I accept that our relative export and import performances are not as strong as it should be, but I would not put it down to a failure of this Government. It is a chronic long-term challenge, which British industry has to face up to. Hot money...

Budget Statement — Motion to Take Note (25 Mar 2015)

Lord Deighton: My Lords, the case that the UK has recovered strongly from its catastrophic financial state in 2010 is hard to dispute—although I am sure some noble Lords will do so. We are now the fastest growing major advanced economy, growing at our fastest since 2007. Employment is at a record high: nearly 2 million jobs have been created during this Parliament, and the claimant count rate has not been...

Budget Statement — Motion to Take Note (25 Mar 2015)

Lord Deighton: I entirely agree with the noble Lord. My reference to employment simply acknowledged that having a job enables people to protect their living standards. I acknowledge that productivity has not improved in recent years. That is the focus for the future. I have said that productivity is still too low; I agree with the noble Lord on that. It is the key to raising living standards. As I said, we...

Written Answers — HM Treasury: EU Grants and Loans (25 Mar 2015)

Lord Deighton: The European Fund for Strategic Investments (EFSI) is a €21bn guarantee fund which seeks to leverage other sources of investment, with the aim of delivering a total estimated target of €315bn in investment in the European economy. The funding for the EFSI’s first loss €21bn guarantee will be backed by the EU Budget (€16bn) and the EIB (€5bn). All EU Member States, including...

Written Answers — HM Treasury: Companies: Ownership (25 Mar 2015)

Lord Deighton: The Government fought hard and successfully for the implementation of central registers of company beneficial ownership information for all European Union Member States under the 4th EU Anti-Money Laundering Directive. All regulated businesses under the Directive, as well as people and organisations able to demonstrate ‘legitimate interest’ will also be granted access to this information....

Written Answers — HM Treasury: Companies: Ownership (25 Mar 2015)

Lord Deighton: The Government is in continued dialogue with the Overseas Territories and the Crown Dependencies on the need to improve the transparency of company beneficial ownership information and we are keeping them informed as UK policy develops. We believe that a central public register of company beneficial ownership is the best way to improve transparency of company ownership and meet the urgent...

Written Answers — HM Treasury: Companies: Ownership (25 Mar 2015)

Lord Deighton: The Government has advocated publicly accessible central registers of company beneficial ownership, including through the 2013 UK G8 Presidency, G7, G20 and EU engagement, and in bilateral discussions. The Government successfully pressed for the implementation of central registers of company beneficial ownership information for all European Union Member States under the 4th EU Anti-Money...

Written Answers — HM Treasury: EU Budget: Contributions (23 Mar 2015)

Lord Deighton: The United Kingdom’s contribution to the European Union budget is accounted for within the Consolidated Fund and disclosed in Notes 5 and 11 to the accounts. The Consolidated Fund is prepared by HM Treasury under the National Loans Act 1968. The Consolidated Fund accounts are publicly available on the gov.uk website. [1] [1] https://www.gov.uk/government/collections/hmt-central-funds

Written Answers — HM Treasury: Economic and Monetary Union (23 Mar 2015)

Lord Deighton: The Treasury regularly monitors global economic developments, including those in the euro area, and their impact on the UK as part of the normal process of policy development. It is not for the Government to comment on the appropriate monetary policy stance for the euro area. Nonetheless, the Chancellor has made clear that the Government fully supports Mario Draghi’s efforts to...

Written Answers — HM Treasury: Eurostar (18 Mar 2015)

Lord Deighton: As made clear at the time of the announcement, completion of the sale of Eurostar is conditional on regulatory approval, including EU competition clearance. This is because the transaction constitutes a change of control under Regulation 139/2004 and as such falls under the jurisdiction of the European Commission.

Written Answers — HM Treasury: Multinational Companies: Taxation (18 Mar 2015)

Lord Deighton: HMRC does not comment on the tax affairs of specific taxpayers, as the department is bound by strict rules of confidentiality. It follows that HMRC cannot provide comparisons of particular businesses. The UK corporate tax rules apply equally to multinational enterprises (MNEs) and UK-owned companies. All companies operating in the UK are required to pay tax in accordance with UK tax...

Written Answers — HM Treasury: Health Services: Devolution (18 Mar 2015)

Lord Deighton: The NHS and local government in Greater Manchester brought forward their own proposals for joining up health and social care services. This is a genuine and historic partnership between local organisations which will improve services for people living in the area. In the first instance Greater Manchester and NHS England will be using existing powers to devolve budgets and establish...

Written Answers — HM Treasury: Monetary Policy (18 Mar 2015)

Lord Deighton: The Financial Conduct Authority (FCA) announced on 20 March 2014 that it had taken enforcement action against an individual for the manipulation of a UK government bond in the run up to a Bank of England Quantitative Easing (QE) operation on 10 October 2011. The FCA’s investigation found this was the action of one trader on one day, and there was no evidence of collusion with traders...

Written Answers — HM Treasury: Monetary Policy (18 Mar 2015)

Lord Deighton: The UK’s monetary policy framework, set out in the Bank of England Act 1998, gives operational responsibility for monetary policy to the independent Monetary Policy Committee (MPC). The MPC makes decisions on its policy tools, including quantitative easing, in order to meet the 2% inflation target in the medium term. The framework for the Asset Purchase Facility (APF), authorising it...

Written Answers — HM Treasury: Government Securities (16 Mar 2015)

Lord Deighton: The Treasury does not have any plans to review the action of gilt-edged market makers in respect of securities bought under the quantitative easing programme. Any alleged market abuse would be for the Serious Fraud Office or the Financial Conduct Authority to investigate.

Written Answers — HM Treasury: Bank Services: Switzerland (12 Mar 2015)

Lord Deighton: HL4893 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. As with Lichtenstein agreement signed in 2009, HMRC is legally restricted by the Agreement’s terms from...


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