Results 1–20 of 3000 for in the 'Written Answers' (speaker:Lord Myners OR speaker:Lord Myners)

Written Answers — House of Lords: Banking: Directors and Executives (22 Oct 2008)

Lord Myners: As part of their investment, the Government have agreed a range of commitments with banks accessing the capitalisation scheme. The Government expect that no cash bonuses will be paid to directors in the current year. Going forward, and to ensure that taxpayers' interests as shareholders in the bank are protected, and the performance of the company enhanced, directors' remuneration will be...

Written Answers — House of Lords: Recycling: IT Equipment (22 Oct 2008)

Lord Myners: Accounting for information technology equipment is covered by the financial reporting standard (FRS) 15 tangible fixed assets. Central government applies this standard with only minor adaptations and interpretations as detailed in the Government Financial Reporting Manual (FReM). Under FRS 15, departments as the user of the asset are responsible for assessing fixed asset lives—ie, the...

Written Answers — House of Lords: Taxation: VAT (22 Oct 2008)

Lord Myners: The Government are generally supportive of the legislative proposal adopted by the Commission, consistent with its position of supporting the flexibility of member states to apply their own choice of VAT rates to further their domestic priorities and social objectives, provided that this does not materially affect the functioning of the internal market. Member states are currently discussing...

Written Answers — House of Lords: Banking (23 Oct 2008)

Lord Myners: I refer the noble Lord to the announcements by HM Treasury on 8 and 13 October 2008 accessible at www.hm-treasury.gov.uk/press_100_08.htm and www.hm-treasury.gov.uk/press_105_08.htm and the Debt Management Office's market notice of 13 October 2008 which is at www.dmo.gov.uk/documentview.aspx? docName=/gilts/press/mktnotice08.pdf.

Written Answers — House of Lords: Economy: Growth Forecasts (27 Oct 2008)

Lord Myners: The Government will update their economic forecasts in the 2008 Pre-Budget Report as normal.

Written Answers — House of Lords: Economy: Growth Forecasts (27 Oct 2008)

Lord Myners: The Government will update its economic forecasts in the 2008 Pre-Budget Report as normal.

Written Answers — House of Lords: Energy: Double Glazing (27 Oct 2008)

Lord Myners: Directive 2006/112/EC was a recast of existing EU VAT legislation (the 6th VAT directive and subsequent amendments). The recast procedure does not permit the introduction of substantive legal changes, and is intended only to clarify previously amended law. The inclusion of double glazing or low-emissivity glass in the reduced rate schedule would have amounted to a substantive change and was...

Written Answers — House of Lords: Northern Rock (27 Oct 2008)

Lord Myners: During this period of temporary public ownership, Northern Rock is managed by its board at arm's length from the Government on commercial principles. It is a matter for the company's management to release specific business updates or provide any required disclosures in their audited annual report and accounts.

Written Answers — House of Lords: Revenue and Customs: Staff (28 Oct 2008)

Lord Myners: Information relating to staff of the revenue arm is not separately identifiable. Data in respect of all HMRC staff are given below: (a) Total number of HMRC staff by grade at 1 October 2008 HMRC Grade Total SCS 399 Grade 6 1,183 Grade 7 2,429 Fast Stream 645 Senior Officer 3,989 Higher Officer 10,443 Officer 21,607 Assistant Officer 36,463 Admin...

Written Answers — House of Lords: Euro (29 Oct 2008)

Lord Myners: The Government's policy on membership of the single currency is unchanged. It remains as set out by the Chancellor in his Statement to the House of Commons in October 1997, and again in the Chancellor's Statement on the five-tests assessment in June 2003.

Written Answers — House of Lords: Housing: VAT (29 Oct 2008)

Lord Myners: European VAT agreements allow member states the option to apply a reduced VAT rate, of not less than 5 per cent, to certain specified supplies of goods and services. These include the provision, construction, renovation and alteration of housing, as part of a social policy. Where 5 per cent VAT rates are available for a given supply, the UK Government have applied these only where they...

Written Answers — House of Lords: Banking (30 Oct 2008)

Lord Myners: State aid approval for the bank recapitalisation scheme was given on the understanding that there would be incentives for early redemption of the preference shares held by the UK authorities. However, there was no agreement that the options available to the UK in doing so should be limited to a no-dividends policy.

Written Answers — House of Lords: Banking (3 Nov 2008)

Lord Myners: The Government expect that banks participating in the recapitalisation scheme do not pay cash bonuses to board members in 2008. Going forward, remuneration policy and incentive schemes will be reviewed and linked to long-term value creation, taking account of risk, and restricting the potential for rewards for failure.

Written Answers — House of Lords: Defence: Expenditure (3 Nov 2008)

Lord Myners: The Government set out their plans for public spending in the Comprehensive Spending Review in October 2007. The next update on the UK fiscal position will be at the 2008 Pre-Budget Report. It will set out how we are supporting the economy in the short-term, whilst taking the necessary decisions to ensure the public finances remain on a sustainable path in the medium term.

Written Answers — House of Lords: Empty Properties (4 Nov 2008)

Lord Myners: Decisions on taxation are matters for the Budget and Pre-Budget Report.

Written Answers — House of Lords: Government: IT Equipment (4 Nov 2008)

Lord Myners: It is for government departments to plan their future spending requirements, including spending on major information technology equipment. The Government expect departments to plan their spending, including spending on information technology, in a way that ensures it is affordable within existing budgets.

Written Answers — House of Lords: Taxation: Methane and Nitrous Oxide (4 Nov 2008)

Lord Myners: There are no taxes on the generation of methane or nitrous oxides and therefore there are no data about the revenues.

Written Answers — House of Lords: Taxation: Paper Returns (4 Nov 2008)

Lord Myners: The legislation specifying the dates for delivering tax returns on paper or electronically is: personal return—Section 8(1D)-(1G), Taxes Management Act 1970, as enacted by Section 88(4) Finance Act 2007;trustee's return—Section 8A(1B)-(1E), Taxes Management Act 1970, as enacted by Section 89(4) Finance Act 2007; and partnership return—Section 12AA(4)-(4E) Taxes Management Act 1970, as...

Written Answers — House of Lords: Taxation: Paper Returns (4 Nov 2008)

Lord Myners: The legislation which provides for a financial penalty for not meeting the due date for filing a tax return, whether on paper or electronically is: personal return and trustee's return—Section 93(1)-(7), Taxes Management Act 1970; and partnership return—Section 93A(1)-(5) Taxes Management Act 1970.

Written Answers — House of Lords: Banking: Iceland (5 Nov 2008)

Lord Myners: The Government have put in place arrangements to ensure that all FSCS-eligible depositors in the Icelandic banks of Landsbanki, Heritable and Kaupthing Singer & Friedlander will receive their money in full. If a charity is eligible to claim compensation from the Financial Services Compensation Scheme, it will be entitled to benefit from these arrangements.


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