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...

My honourable friend the Economic Secretary to the Treasury (Sajid Javid) has made the following ministerial Statement:

The Government are today announcing that they will introduce a brownfield allowance for companies undertaking additional development in certain older fields in the UK continental shelf.

This follows the announcement at Budget 2012 that...

My honourable friend the Economic Secretary to the Treasury (Sajid Javid) has made the following ministerial Statement:

The Government are today announcing that they will introduce a brownfield allowance for companies undertaking additional development in certain older fields in the UK continental shelf.

This follows the announcement at Budget 2012 that...

To ask Her Majesty’s Government what measures they plan to introduce to give effect to the Chancellor of the Exchequer’s commitment in the Budget Statement to deal with the unlimited use by the rich of income tax reliefs to avoid or to reduce their liability to taxation.[HL1859]

To ask Her Majesty’s Government what measures they plan to introduce to give effect to the Chancellor of the Exchequer’s commitment in the Budget Statement to deal with the unlimited use by the rich of income tax reliefs to avoid or to reduce their liability to taxation.[HL1859]

To ask Her Majesty’s Government how much revenue they estimate would be raised by reducing the lifetime allowance for pensions tax relief to (1) £1.25 million, (2) £1 million, (3) £750,000 or (4) £500,000, in (a) 2013-14, (b) 2014-15, (c) 2015-16, or (d) 2016-17. [HL1878]

To ask Her Majesty’s Government how much revenue they estimate would be raised by reducing the lifetime allowance for pensions tax relief to (1) £1.25 million, (2) £1 million, (3) £750,000 or (4) £500,000, in (a) 2013-14, (b) 2014-15, (c) 2015-16, or (d) 2016-17. [HL1878]

To ask Her Majesty’s Government on what evidence the Prime Minister’s spokesperson based his statement, reported in The Guardian on Tuesday 10 April, that some wealthy individuals were avoiding paying tax by donating money to charities that did not “in all cases do a great amount of charitable work”. [HL1574]

To ask Her Majesty’s Government on what evidence the Prime Minister’s spokesperson based his statement, reported in The Guardian on Tuesday 10 April, that some wealthy individuals were avoiding paying tax by donating money to charities that did not “in all cases do a great amount of charitable work”. [HL1574]

My Lords, in addressing Amendments 114, 119 and 117B, the Committee has drawn attention to some very topical and important issues. I cannot now remember why Adam Posen of the MPC came in; I think it was Adam Posen who the noble Lord, Lord McFall of Alcluith, referred to. This...

My Lords, in addressing Amendments 114, 119 and 117B, the Committee has drawn attention to some very topical and important issues. I cannot now remember why Adam Posen of the MPC came in; I think it was Adam Posen who the noble Lord, Lord McFall of Alcluith, referred to. This...

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

At Budget 2012, the Government announced the introduction of a limit on currently uncapped income tax reliefs which will have effect from April 2013.

The Government have today published a consultation document...

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

At Budget 2012, the Government announced the introduction of a limit on currently uncapped income tax reliefs which will have effect from April 2013.

The Government have today published a consultation document...

My honourable friend the Economic Secretary to the Treasury (Chloe Smith) has today made the following Written Ministerial Statement.

At Budget 2012, the Government announced a package of measures on oil and gas taxation to support investment. This package included the introduction of legislation in 2013 giving the Government statutory authority...

My honourable friend the Economic Secretary to the Treasury (Chloe Smith) has today made the following Written Ministerial Statement.

At Budget 2012, the Government announced a package of measures on oil and gas taxation to support investment. This package included the introduction of legislation in 2013 giving the Government statutory authority...

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

At Budget 2012 the Government announced that, following consultation on design, they will introduce corporation tax reliefs for the animation, high-end television and video games industries from April 2013, subject to state...

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

At Budget 2012 the Government announced that, following consultation on design, they will introduce corporation tax reliefs for the animation, high-end television and video games industries from April 2013, subject to state...

To ask Her Majesty’s Government how much tax relief was claimed by public schools on charitable donations received in each of the last five financial years.[HL465]

To ask Her Majesty’s Government how much tax relief was claimed by public schools on charitable donations received in each of the last five financial years.[HL465]

To ask Her Majesty’s Government how much tax revenue was lost in each of the past five financial years as a result of individuals or organisations offsetting their charitable donations against tax. [HL467]

To ask Her Majesty’s Government how much tax revenue was lost in each of the past five financial years as a result of individuals or organisations offsetting their charitable donations against tax. [HL467]

My Lords, the views of stakeholders, including the Green Alliance, are given serious consideration when formulating policy. The Government remain committed to increasing the proportion of revenue from environmental taxes. This needs to be balanced with ensuring predictability, stability and simplicity in the tax code. In Budget 2012 the Government further demonstrated their intention to meet their environmental commitments while reducing unnecessary administrative burdens.

My Lords, the views of stakeholders, including the Green Alliance, are given serious consideration when formulating policy. The Government remain committed to increasing the proportion of revenue from environmental taxes. This needs to be balanced with ensuring predictability, stability and simplicity in the tax code. In Budget 2012 the Government further demonstrated their intention to meet their environmental commitments while reducing unnecessary administrative burdens.

I am grateful to the noble Baroness for confirming the green credentials of this Government. She raises an interesting point because, on the question of transparency, the Green Alliance report refers to all ISAs—so to a broader suite of savings products than merely green products. Any contribution to the debate about increasing transparency is to be welcomed. Other reports have been written recently about transparency around fees in particular, while this one is more about the transparency of the investments in the portfolio. I note that a number of green ISAs already on the market make a virtue out of the transparency that they offer. Generally this is an important debate but one in which the voluntary approach, backed up by the code that the noble Baroness refers to, is right.

I am grateful to the noble Baroness for confirming the green credentials of this Government. She raises an interesting point because, on the question of transparency, the Green Alliance report refers to all ISAs—so to a broader suite of savings products than merely green products. Any contribution to the debate about increasing transparency is to be welcomed. Other reports have been written recently about transparency around fees in particular, while this one is more about the transparency of the investments in the portfolio. I note that a number of green ISAs already on the market make a virtue out of the transparency that they offer. Generally this is an important debate but one in which the voluntary approach, backed up by the code that the noble Baroness refers to, is right.

First, it is important to recognise that there are at least 16 funds that I have been able to identify in the ISA space that are already green or ethical in their scope and branding. More generally, there have been lots of proposals for tailor-made ISAs, such as big society ISAs, small company ISAs, corporate bond ISAs, social investment ISAs and early intervention ISAs. There are a lot of worthy ideas around, all of which have their merits, but on the ISA brand we intend to keep it as simple and broad as it has always been. As for the green investment bank, as my noble friend knows, at the moment it has its initial capital for the next four years and is actively looking at its 21st project. In time it will be able to borrow, but not for the first four years.

First, it is important to recognise that there are at least 16 funds that I have been able to identify in the ISA space that are already green or ethical in their scope and branding. More generally, there have been lots of proposals for tailor-made ISAs, such as big society ISAs, small company ISAs, corporate bond ISAs, social investment ISAs and early intervention ISAs. There are a lot of worthy ideas around, all of which have their merits, but on the ISA brand we intend to keep it as simple and broad as it has always been. As for the green investment bank, as my noble friend knows, at the moment it has its initial capital for the next four years and is actively looking at its 21st project. In time it will be able to borrow, but not for the first four years.

My Lords, the private residence capital gains tax relief means that most people are not liable for capital gains tax on their main residences. If access to that relief were linked to energy efficiency improvements, not only would it override the broad policy aim of that relief—that people are encouraged to save for their house—but what about the large number of people who do not necessarily have the funds to be able to improve the efficiency of their homes? Is it really the position of the Opposition that capital gains tax relief on people’s main residences would be taken away if they were not able to afford efficiency improvements? That is certainly not the policy of this Government.

My Lords, the private residence capital gains tax relief means that most people are not liable for capital gains tax on their main residences. If access to that relief were linked to energy efficiency improvements, not only would it override the broad policy aim of that relief—that people are encouraged to save for their house—but what about the large number of people who do not necessarily have the funds to be able to improve the efficiency of their homes? Is it really the position of the Opposition that capital gains tax relief on people’s main residences would be taken away if they were not able to afford efficiency improvements? That is certainly not the policy of this Government.

My Lords, I can indeed confirm that that is not the policy of Her Majesty’s Government.

My Lords, I can indeed confirm that that is not the policy of Her Majesty’s Government.

Apart from the fact that taking away people’s capital gains tax relief by linking it to green efficiency is absolutely not on the agenda, the key point here is that the forthcoming Green Deal—a world-first policy proposal—will mean that many people will be able to make their homes warmer and more efficient. That is what really matters. Of course we want to see more efficient homes, but there are ways to do that, and the Government have a policy.

Apart from the fact that taking away people’s capital gains tax relief by linking it to green efficiency is absolutely not on the agenda, the key point here is that the forthcoming Green Deal—a world-first policy proposal—will mean that many people will be able to make their homes warmer and more efficient. That is what really matters. Of course we want to see more efficient homes, but there are ways to do that, and the Government have a policy.

To ask Her Majesty's Government what assessment they have made of the recent Green Alliance report into the use of tax reliefs to promote sustainable, green growth.

To ask Her Majesty's Government what assessment they have made of the recent Green Alliance report into the use of tax reliefs to promote sustainable, green growth.

My Lords, let me first thank the noble Lord, Lord Eatwell, for confirming what I and the Government strongly believe but clearly have not communicated to my noble friend Lord Forsyth—that the no-detriment principle simply does not have the sort of double-benefit effect to Scotland that he seeks to portray...

My Lords, let me first thank the noble Lord, Lord Eatwell, for confirming what I and the Government strongly believe but clearly have not communicated to my noble friend Lord Forsyth—that the no-detriment principle simply does not have the sort of double-benefit effect to Scotland that he seeks to portray...

My Lords, I hope I can reassure my noble friend that that is exactly what will happen under Amendment 29, because that will require both Governments to provide updates to their respective Parliaments on the implementation of the Bill. If we are not able to give a report that confirms...

My Lords, I hope I can reassure my noble friend that that is exactly what will happen under Amendment 29, because that will require both Governments to provide updates to their respective Parliaments on the implementation of the Bill. If we are not able to give a report that confirms...