Contributions
2,217 recent contributions in Hansard
HANSARDTourist Spending: VATIt is difficult to disaggregate the impact of this policy versus the overall take of VAT, which will be affected by a wide range of economic factors during this time. When we…24 May 2023HANSARDTourist Spending: VATAs I have said to noble Lords, the Treasury took into account a wide range of information when reaching its decision. Indeed, the Treasury was judicially reviewed on the decision…24 May 2023HANSARDTourist Spending: VATI am not sure that the reversal of the VAT refund scheme would encourage more schoolchildren to visit the Science Museum. But I will certainly take back the noble Lord’s point…24 May 2023HANSARDTourist Spending: VATThe noble Lord makes an important point. We have taken steps during the pandemic to provide support for those towns that rely on tourism; £37 billion of support went to tourism,…24 May 2023HANSARDTourist Spending: VATMy Lords, I would say to the noble Lord that the Government have looked very carefully at the Oxford Economics analysis, and we do appreciate that some of the costs would be…24 May 2023HANSARDTourist Spending: VATI absolutely agree with my noble friend that levels of government borrowing are high because of the impact of both the Covid pandemic and the war in Ukraine. One of the reasons…24 May 2023HANSARDTourist Spending: VATMy Lords, I reassure the noble Baroness that the Government continue to monitor the evidence around VAT shopping, as we do keep all taxes under review. As to the process the…24 May 2023HANSARDInsider Dealing (Securities and Regulated Markets) Order 2023That the draft Order laid before the House on 17 April be approved. Considered in Grand Committee on 16 May.22 May 2023HANSARDUK-EU Relationship in Financial Services (European Affairs Committee Report)My Lords, I thank the noble Earl, Lord Kinnoull, for securing this important debate on the report from the European Affairs Committee, which he so expertly chairs. I am grateful…17 May 2023HANSARDInsider Dealing (Securities and Regulated Markets) Order 2023I can write to the noble Lord on that. It is probably the standard implementation period for a change of this nature. As I said in answering on the assessment of the FCA’s tools…16 May 2023HANSARDInsider Dealing (Securities and Regulated Markets) Order 2023My Lords, I thank both noble Lords for their support for this statutory instrument. On the time it has taken to deliver this measure and the potential impact in the meantime of…16 May 2023HANSARDInsider Dealing (Securities and Regulated Markets) Order 2023My Lords, this statutory instrument updates the UK’s criminal insider dealing regime to ensure that all market participants are held to high standards and that there are…16 May 2023HANSARDInsider Dealing (Securities and Regulated Markets) Order 2023That the Grand Committee do consider the Insider Dealing (Securities and Regulated Markets) Order 2023.16 May 2023HANSARDFinancial Services and Markets Act 2000 (Financial Promotion) (Amendment) Order 2023That the draft Orders laid before the House on 27 and 29 March be approved. Relevant document: 36th Report from the Secondary Legislation Scrutiny Committee. Considered in Grand…09 May 2023HANSARDEnergy Profits LevyThe electricity generator levy reflects a historic approach to how we pay for our electricity. New electricity contracts are often done, for example, under the contracts for…09 May 2023HANSARDEnergy Profits LevyMy noble friend makes an important point. Investors in these companies can come from all sources, including pension funds. It is right and proper that they think about the return…09 May 2023HANSARDEnergy Profits LevyI do not know whether referring to over £50 billion of tax take as “peanuts” reflects the broader Labour Party’s attitude towards public finances, but the Government consider that…09 May 2023HANSARDEnergy Profits LevyI welcome the noble Lord to the Front Bench. He referred to figures that are the global profits of companies. As I have said to his noble friend, the UK applies its windfall tax…09 May 2023HANSARDEnergy Profits LevyMy noble friend is right. That is why the Government have always sought to deliver a balance between a fair return for the UK from the use of its resources and providing the right…09 May 2023HANSARDEnergy Profits LevyMy Lords, I disagree with the noble Baroness that there is preferential treatment for the oil and gas sector, which faces a far higher tax rate based on the extraordinary profits…09 May 2023