Contributions
2,217 recent contributions in Hansard
HANSARDG20: Debt CancellationWe will absolutely ensure that our commitment to 0.7% of GNI supports economic recovery in the countries most affected by this pandemic and also draw on the expertise and skills…10 Jun 2020HANSARDG20: Debt CancellationMy Lords, I feel I have said quite a bit on debt relief and that we may be supportive in future for certain countries, if that is the right route. In terms of the UK’s…10 Jun 2020HANSARDG20: Debt CancellationMy Lords, we are in uncharted territory at the moment and the full impact of Covid on the developing world is unknown. The DSSI provides breathing space, so future restructuring…10 Jun 2020HANSARDG20: Debt CancellationMy Lords, the Government are concerned by debt vulnerabilities in developing countries, which Covid-19 has amplified. The Chancellor and his G20 counterparts agreed a historic…10 Jun 2020HANSARDG20: Debt CancellationThe noble Baroness is correct that we need to ensure that the support we give to these countries actually flows into supporting social and health programmes that help to tackle…10 Jun 2020HANSARDG20: Debt CancellationYes, we will.10 Jun 2020HANSARDG20: Debt CancellationAs I said in my response to the noble Lord, Lord Livermore, we will continue to work with the G20 and look at the extension of the debt service suspension initiative. One of the…10 Jun 2020HANSARDG20: Debt CancellationThe noble Baroness is right that the scale of the economic crisis facing these countries is significant. The IMF predicts that global GDP will fall by 3% in 2020 and says it is…10 Jun 2020HANSARDG20: Debt CancellationThe Government will continue to keep all options under review. In terms of debt forgiveness, the Government have committed a further £150 million to the IMF Catastrophe…10 Jun 2020HANSARDG20: Debt CancellationDebt relief can be an important route for some countries; however, in terms of UK support, under the heavily indebted poor countries initiative, the UK has written off most of its…10 Jun 2020HANSARDG20: Debt CancellationMy Lords, I completely agree with the noble Lord that black lives matter. The UK has been a leading voice on debt forgiveness. As I said previously, however, the UK has forgiven…10 Jun 2020HANSARDCovid-19: EconomyMy Lords, I remind noble Lords of the time-limited nature of this debate and the limit for Back-Bench contributions at two minutes to allow the Minister to give the fullest…04 Jun 2020HANSARDNorthern Ireland Banknote (Designation of Authorised Bank) Regulations 2020I thank all noble Lords for their warm words of welcome. I am grateful for the debate on this matter, which has sometimes been extremely detailed, and I hope to address as many…02 Jun 2020HANSARDNorthern Ireland Banknote (Designation of Authorised Bank) Regulations 2020To move that the Virtual Proceedings do consider the draft Northern Ireland Banknote (Designation of Authorised Bank) Regulations 2020.02 Jun 2020HANSARDNorthern Ireland Banknote (Designation of Authorised Bank) Regulations 2020My Lords, in the UK, seven banks currently hold the authority to issue commercial bank notes: four in Northern Ireland and three in Scotland. One of these banks, Ulster Bank, is…02 Jun 2020HANSARDInheritance TaxMy Lords, under the definition of businesses, certain criteria must be met in order to qualify for the exemption. It is restricted to trading businesses which provide goods and…20 May 2020HANSARDInheritance TaxMy Lords, I point out that in 2018-19, inheritance tax receipts were at a record high, and 70% of inheritance tax comes from estates valued at £1 million or more. I believe that…20 May 2020HANSARDInheritance TaxMy Lords, the Government keep the tax system under review and any changes made are taken in consideration of economic competitiveness, levelling up growth across the UK and their…20 May 2020HANSARDInheritance TaxThe Government often look at systems in other countries to see what can be learned from them. In the UK, the Government think that inheritance tax makes an important contribution…20 May 2020HANSARDInheritance TaxThe Government are committed to a fair taxation system. We recognise that the current pandemic will have an impact on public borrowing and we will need to look at the…20 May 2020