To ask Her Majesty’s Government whether they will consider allowing banks to pay their bank levy by distributable capital notes that will allow bank capital to be retained to support new lending. [HL4023]

To ask Her Majesty’s Government whether they will consider allowing banks to pay their bank levy by distributable capital notes that will allow bank capital to be retained to support new lending. [HL4023]

My honourable friend the Exchequer Secretary to the Treasury (David Gauke) has today made the following Written Ministerial Statement.

This Government are committed to delivering a progressive tax system that is affordable, fair and encourages growth.

The Government are today announcing measures that will help build a fair tax system and...

My honourable friend the Exchequer Secretary to the Treasury (David Gauke) has today made the following Written Ministerial Statement.

This Government are committed to delivering a progressive tax system that is affordable, fair and encourages growth.

The Government are today announcing measures that will help build a fair tax system and...

To ask Her Majesty’s Government what assumptions they have made about the response of banks to the bank levy, including the incentive effect on banks to reduce their outstanding loans.

To ask Her Majesty’s Government what assumptions they have made about the response of banks to the bank levy, including the incentive effect on banks to reduce their outstanding loans.

To ask Her Majesty’s Government whether the rate of tax applied under the bank levy will be adjusted regularly to achieve a monetary tax yield; and whether they plan to use this approach for any other taxes.

To ask Her Majesty’s Government whether the rate of tax applied under the bank levy will be adjusted regularly to achieve a monetary tax yield; and whether they plan to use this approach for any other taxes.

To ask Her Majesty’s Government whether the implementation of the Independent Commission on Banking proposals to enhance the safety of United Kingdom retail and commercial banking will obviate the case for a bank levy.

To ask Her Majesty’s Government whether the implementation of the Independent Commission on Banking proposals to enhance the safety of United Kingdom retail and commercial banking will obviate the case for a bank levy.

To ask Her Majesty’s Government whether they have carried out an assessment of how much of the bank levy will be absorbed by banks, and how much will be passed on to customers.

To ask Her Majesty’s Government whether they have carried out an assessment of how much of the bank levy will be absorbed by banks, and how much will be passed on to customers.

My honourable friend the Financial Secretary to the Treasury (Mark Hoban) has today made the following Written Ministerial Statement. A double taxation agreement with Germany was signed on 7 December 2011 in relation to both countries’ bank levies. The text of the agreement has been deposited in the Libraries of...

My honourable friend the Financial Secretary to the Treasury (Mark Hoban) has today made the following Written Ministerial Statement. A double taxation agreement with Germany was signed on 7 December 2011 in relation to both countries’ bank levies. The text of the agreement has been deposited in the Libraries of...

My honourable friend the Exchequer Secretary to the Treasury (David Gauke) has today made the following Written Ministerial Statement. Following Budget 2011, the Government consulted on a number of tax policies. Today the Government are publishing the responses to these consultations alongside draft clauses for legislation to be included in...

My honourable friend the Exchequer Secretary to the Treasury (David Gauke) has today made the following Written Ministerial Statement. Following Budget 2011, the Government consulted on a number of tax policies. Today the Government are publishing the responses to these consultations alongside draft clauses for legislation to be included in...

Lords statement on the Autumn Statement 2011 (Cm 8231).

Lords statement on the Autumn Statement 2011 (Cm 8231).

My Lords, I am delighted that not only can we continue with the HS2 scheme, although it does not impact in any material way on the current spending review period, but also that a number of other exciting rail projects have been announced or confirmed today; for example, the reopening...

My Lords, I am delighted that not only can we continue with the HS2 scheme, although it does not impact in any material way on the current spending review period, but also that a number of other exciting rail projects have been announced or confirmed today; for example, the reopening...

My Lords, I take it as a sign of great confidence in the direction of policy of my right honourable friend the Chancellor of the Exchequer because former Chancellors are never shy of giving their advice. If they are not giving it today, I assume that they are satisfied.

My Lords, I take it as a sign of great confidence in the direction of policy of my right honourable friend the Chancellor of the Exchequer because former Chancellors are never shy of giving their advice. If they are not giving it today, I assume that they are satisfied.

My Lords, I am grateful to the noble Lord, Lord Empey, for drawing attention to this critical issue because it is potentially an important structural change in the economy. We want to make sure that in the labour markets in all the regions of the country there is no unfair...

My Lords, I am grateful to the noble Lord, Lord Empey, for drawing attention to this critical issue because it is potentially an important structural change in the economy. We want to make sure that in the labour markets in all the regions of the country there is no unfair...

My Lords, the original £110 rise over inflation was announced at a time when the expectation as regards inflation was significantly lower than has turned out to be the case. The inflation increase that will be made is much higher than intended. Inflation in all the independent forecasts is expected...

My Lords, the original £110 rise over inflation was announced at a time when the expectation as regards inflation was significantly lower than has turned out to be the case. The inflation increase that will be made is much higher than intended. Inflation in all the independent forecasts is expected...

That was reported in the press. If the noble Lord would like to deny it, he is at liberty to do so.

That was reported in the press. If the noble Lord would like to deny it, he is at liberty to do so.

My Lords, there is no one more grateful than me for not having to read out 45 minutes of Statement, however excellent it is, so I am glad of the change in the rules of the House. The situation with the pension funds is that two groups of funds approached...

My Lords, there is no one more grateful than me for not having to read out 45 minutes of Statement, however excellent it is, so I am glad of the change in the rules of the House. The situation with the pension funds is that two groups of funds approached...

The noble Lord, Lord Myners, mentions treachery, which never passed my lips. He was reported as saying that he suggested that HSBC should be moving its retail bank to Paris. If in fact that was not the advice he was giving, I am very glad that he has now clarified...

The noble Lord, Lord Myners, mentions treachery, which never passed my lips. He was reported as saying that he suggested that HSBC should be moving its retail bank to Paris. If in fact that was not the advice he was giving, I am very glad that he has now clarified...

My Lords, on the first of the questions which my noble friend raises, money will indeed flow through the banks as a result of the guarantee scheme to micro-businesses, although I appreciate that it will always be tougher for them. It is worth noting that there will be banks coming...

My Lords, on the first of the questions which my noble friend raises, money will indeed flow through the banks as a result of the guarantee scheme to micro-businesses, although I appreciate that it will always be tougher for them. It is worth noting that there will be banks coming...

I am grateful to my noble friend Lord Higgins. I wondered whether we would get through this debate without mention of the money supply, but he has not disappointed me. We have had it as well. I agree absolutely with his analysis of the situation. As the OECD said yesterday,...

I am grateful to my noble friend Lord Higgins. I wondered whether we would get through this debate without mention of the money supply, but he has not disappointed me. We have had it as well. I agree absolutely with his analysis of the situation. As the OECD said yesterday,...

My Lords, the first thing to remind the House of is that it was my right honourable friend the Chancellor who took the lead in ensuring that the Basel III reforms on capital were phased in over a period to 2019, which was accepted by the G20 precisely for the...

My Lords, the first thing to remind the House of is that it was my right honourable friend the Chancellor who took the lead in ensuring that the Basel III reforms on capital were phased in over a period to 2019, which was accepted by the G20 precisely for the...

My Lords, I dread to think what would happen to interest rates. The interest rates on our 10-year money have stayed rock solid. They are slightly down today, at below 2.3 per cent. Where is Italy? It is north of 7 per cent. Every 1 per cent increase in our...

My Lords, I dread to think what would happen to interest rates. The interest rates on our 10-year money have stayed rock solid. They are slightly down today, at below 2.3 per cent. Where is Italy? It is north of 7 per cent. Every 1 per cent increase in our...