Contributions
2,622 recent contributions in Hansard
HANSARDDefence FundingOf course, I do not have the answer to those questions because the Government are not intending to issue defence bonds. However, the noble Baroness mentioned one of the rationales…16 May 2024HANSARDDefence FundingI am very happy to reiterate what I said about the Government’s commitment to the defence industry, ensuring that it receives the amount of private sector investment it needs. My…16 May 2024HANSARDDefence FundingThe noble Lord seems to imply that this is a timing issue. The Government have heard all the messages coming from various quarters about the urgency and the threats we face. We do…16 May 2024HANSARDDefence FundingI can absolutely give that reassurance. In addition to firing up the UK industrial base and the £10 billion on the new munitions strategy, the third key area that the additional…16 May 2024HANSARDDefence FundingThe Government have published figures in accordance with the OBR forecasting period, which sets out exactly how this uplift will be met. The OBR forecast goes out to 2028-29, and…16 May 2024HANSARDDefence FundingI can assure the noble Lord that this has no impact on our ambition to further cut taxes in future. We want to end the unfairness of double taxation of work—we have cut employees’…16 May 2024HANSARDBuilding Societies Act 1986 (Amendment) BillMy Lords, I congratulate the noble Lord, Lord Kennedy, on introducing this important Bill to your Lordships’ House. It will help to support the future growth and success of the…10 May 2024HANSARDBank of England (Economic Affairs Committee Report)My Lords, what an outstanding debate. I particularly thank my noble friend Lord Bridges for so skilfully opening it, and the Economic Affairs Committee. So many of its members…02 May 2024HANSARDBank of England (Economic Affairs Committee Report)I cannot comment on what the Governor of the Bank of England thinks other people will think about a document that has not been published. If I can get any more information, or…02 May 2024HANSARDRoad PricingThe Treasury sees that there are many options going forward for the fuel duty and many broader motoring taxes—and indeed for all taxes. As we transition to net zero, the…29 Apr 2024HANSARDStart-up Companies: Tax IncentivesMy Lords, HMRC is currently exceeding its published customer services aim to process R&D claims and EIS applications within 40 working days. In some cases, this will involve…29 Apr 2024HANSARDStart-up Companies: Tax IncentivesI am grateful to my noble friend. I know that HMRC regularly engages with industry and endeavours to work collaboratively with industry to improve guidance such that EIS…29 Apr 2024HANSARDStart-up Companies: Tax IncentivesI hear what the noble Lord is saying and I will very happily look at the evidence that he has provided to officials in the Treasury. Perhaps he would like to join the meeting with…29 Apr 2024HANSARDStart-up Companies: Tax IncentivesThe Government have actually monitored the benefits of the tax reliefs and indeed published independent reports at the 2023 Autumn Statement into EIS and SEIS. We have also…29 Apr 2024HANSARDStart-up Companies: Tax IncentivesI think the noble Lord has conflated a number of issues there into one thing. HMRC is an enormous organisation that deals with many types of individuals and corporates. Companies…29 Apr 2024HANSARDStart-up Companies: Tax IncentivesI would very happily write to the noble Lord with that data; I do not have it to hand at the moment.29 Apr 2024HANSARDRoad PricingI recognise what the noble Lord says. Many think tanks and other groups have done a lot of work on road pricing. Jurisdictions around the world are looking at it; however, as yet,…29 Apr 2024HANSARDRoad PricingAt the moment, fuel duty raises around £25 billion annually. That is forecast to increase in nominal terms to £30.5 billion over the scorecard period to 2029. The change in fuel…29 Apr 2024HANSARDRoad PricingMy noble friend raises an important point about the cost of motoring. That really is top of mind for the Government. It is why we have frozen fuel duty since 2011 and had a 5p cut…29 Apr 2024HANSARDRoad PricingAs I said in my opening remarks, the Government have no plans to consider road pricing. I really cannot say more than that.29 Apr 2024