Contributions
2,217 recent contributions in Hansard
HANSARDCrypto CurrenciesMy Lords, that work would fall to the Cryptoassets Taskforce, which was set up by the Treasury, the Bank of England and the Financial Conduct Authority to look at the regulation…28 Feb 2022HANSARDCrypto CurrenciesMy Lords, I will take the noble Baroness’s latter point back to the Treasury. On her first point, she is absolutely right that, while we take steps to regulate the use of these…28 Feb 2022HANSARDCrypto CurrenciesIt is probably worth trying to distinguish between different forms of crypto assets: unbacked crypto assets such as bitcoin can be highly volatile and speculative, and are…28 Feb 2022HANSARDCrypto CurrenciesMy Lords, whenever the noble Lord stands up, I either strongly agree or strongly disagree with him; in this case, I strongly agree.28 Feb 2022HANSARDTax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2022My Lords, I thank all noble Lords for their contributions to this debate, which was short but thoughtful. The noble Lord, Lord Tunnicliffe, is correct that the matters we are…23 Feb 2022HANSARDTax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2022I note the noble Baroness’s specific questions. I am afraid that I do not have those figures to hand, but I will happily write to her with them. I take her point about those…23 Feb 2022HANSARDTax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2022My Lords, I turn first to the Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2022. These regulations…23 Feb 2022HANSARDTax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2022That the Grand Committee do consider the Tax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2022.23 Feb 2022HANSARDSocial Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2022That the Grand Committee do consider the Social Security (Contributions) (Rates, Limits and Thresholds Amendments and National Insurance Funds Payments) Regulations 2022.23 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy Lords, the noble Lord is correct to talk about price fluctuations in the sector, of course. In spring 2020, the price of oil crashed to below $20 a barrel. That year saw…22 Feb 2022HANSARDFinance (No. 2) BillI always admire the noble Lord’s ability to cram in the most questions or points in his contributions to these debates. I make an effort to address as many as I can—this one…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy Lords, the green levy on bills is in place to help move the transition towards more renewable energy sources. It has been successful in doing that so far. The Government remain…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy Lords, I believe I have already answered a question about the level of the green levy on bills. However, I have also given the reassurance that the Government are committed to…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy Lords, my noble friend is right that in the short to medium term we will continue to need oil and gas supplies, and that is why the Government think that it is important that…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy Lords, I am afraid that the Government do not agree with the approach of the noble Baroness. However, where we do agree is on the essential nature of providing further support…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy Lords, I want to be absolutely clear that the Government have put in support to help people pay their energy bills—we are spending around £9 billion on that. The noble Lord is…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy Lords, the Government agree that an abrupt tax change could put investment in this sector at risk. While the overall tax burden is high, we have had to take certain decisions…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy noble friend is right. The North Sea transition deal is a global exemplar of how the Government can work in partnership with the offshore oil and gas industry to achieve a…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesThe Government place additional taxes on the extraction of oil and gas, with companies engaged in the production of oil and gas on the UK continental shelf subject to headline tax…22 Feb 2022HANSARDWindfall Tax: Oil, Gas and Energy CompaniesMy Lords, Labour may say that it would impose a windfall tax immediately but under its proposals the support would not then be passed on to consumers immediately; it would take…22 Feb 2022