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1,533 recent contributions in Hansard
HANSARDBudget: Press BriefingsAs I have said, I am being told by noble Lords opposite that speculation is wrong and now the noble Lord is asking me to speculate. As I have made very clear, I will not be…18 Nov 2025HANSARDBudget: Press BriefingsWith the greatest respect to the noble Lord, I am not sure that it is for him to say what is and is not good enough. He expresses shock and horror that the Chancellor should…18 Nov 2025HANSARDInheritance Tax: PensionsMore importantly, what would I say to the noble Baroness? I would say that she is saying things that are completely misleading. As I have said already, estates will continue to…17 Nov 2025HANSARDInheritance Tax: PensionsI presume the noble Baroness is referring to the proposal of the noble Baroness, Lady Altmann, for a flat tax, and it is very interesting that she raises that. Currently, fewer…17 Nov 2025HANSARDInheritance Tax: PensionsI remember the noble Lord’s Question last year. As he knows, I will not speculate on the next Budget now or comment on individual tax measures ahead of time.17 Nov 2025HANSARDInheritance Tax: PensionsMy Lords, the Government continue to incentivise pension savings for their intended purpose of funding retirement. Most unused pension funds and death benefits payable from a…17 Nov 2025HANSARDInheritance Tax: PensionsAs I say, given that all the normal nil-rate bands will continue to apply, an estate can pass on up to £1 million with no inheritance tax. If you are leaving £1 million, you…17 Nov 2025HANSARDInheritance Tax: PensionsI am grateful to the noble Baroness for her question; I think the short answer is no. Let us be very clear: this is not a retrospective policy change. It takes effect for deaths…17 Nov 2025HANSARDInheritance Tax: PensionsAll the points that the noble Baroness raises have been covered in previous conversations. It is clearly not a retrospective tax because it takes effect for deaths on or after 6…17 Nov 2025HANSARDInheritance Tax: PensionsI understand the point that the noble Lord raises. As I understand it, six months is standard within the tax system.17 Nov 2025HANSARDInheritance Tax: PensionsI very much agree with the first part of my noble friend’s question. It is very important to state that the intended purpose of pension savings is to fund retirement. The…17 Nov 2025HANSARDInheritance Tax: PensionsI do agree with everything the noble Lord said. I enjoyed discussing these matters with him when he was a Treasury official and I was a special adviser. I probably learned a lot…17 Nov 2025HANSARDEconomic and Taxation Policies: Jobs, Growth and ProsperityIt is just worth noting that the OBR updated those forecasts in 2024 and 2025 and maintained its view that it will reduce GDP by four percentage points.13 Nov 2025HANSARDEconomic and Taxation Policies: Jobs, Growth and ProsperityThe report that it produced stopped before the conclusion of the previous Government. It stopped at that Government’s last Budget and of course they had several months left to…13 Nov 2025HANSARDEconomic and Taxation Policies: Jobs, Growth and ProsperityI do not think I have misrepresented the situation in any way, shape or form. The OBR forecast that around two-fifths of the 4% impact had already occurred by the time the EU-UK…13 Nov 2025HANSARDEconomic and Taxation Policies: Jobs, Growth and ProsperityMy Lords, I congratulate the noble Lord, Lord Elliott of Mickle Fell, on securing this debate and on his thoughtful, interesting and wide-ranging opening speech. I very much look…13 Nov 2025HANSARDEconomic and Taxation Policies: Jobs, Growth and ProsperityI am only five minutes into my speech; let us hear my whole speech before we conclude on that. The OBR’s productivity assessment will be a look in the rear-view mirror, but the…13 Nov 2025HANSARDCryptocurrencies: US RegulationI am grateful to the noble Lord for his question. The Bank of England’s Financial Policy Committee and the multilateral Financial Stability Board currently agree that crypto asset…12 Nov 2025HANSARDCryptocurrencies: US RegulationI am grateful to the noble Baroness for her question. As she knows, the Bank of England is the independent regulator for systemic stablecoin and will design its regime as…12 Nov 2025HANSARDCryptocurrencies: US RegulationPossibly, but I do not at all share the characterisation made by my noble friend of a regulatory race to the bottom. As I have said, we will regulate in the UK’s national…12 Nov 2025