1-20 of 701 results for member:"Lord Lee of Trafford"
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To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 13 July (HL1420), whether they will now answer the question put, namely what estimate they have made of the revenue implications of levying capital gains tax at the same rate as income tax.
To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 13 July (HL1420), whether they will now answer the question put, namely what estimate they have made of the revenue implications of levying capital gains tax at the same rate as income tax.
The Government does not comment on tax speculation outside of fiscal events. The Government keeps the tax system under review, and decisions on tax policy are taken by the Chancellor at a fiscal event.
To ask His Majesty's Government what estimate they have made of the revenue implications of levying Capital Gains Tax at the same rate as Income Tax; and what plans they have, if any, to equalise rates of Capital Gains Tax and Income Tax.
To ask His Majesty's Government what estimate they have made of the revenue implications of levying Capital Gains Tax at the same rate as Income Tax; and what plans they have, if any, to equalise rates of Capital Gains Tax and Income Tax.
The Government has taken significant steps to reform Capital Gains Tax (CGT), including increasing the main rates of CGT from 10% for basic rate taxpayers and 20% for higher rate taxpayers to 18% and 24% respectively. The rates for Business Asset Disposal Relief and Investors’ Relief have also increased to 18% for disposals made on or after 6 April 2026. This has created a simpler system by aligning rates across property and other assets.
The Government has also reduced the CGT relief available for disposals to Employee Ownership Trusts (EOTs) from 100% to 50%.
CGT currently raises around £14 billion a year, and receipts are expected to more than double to around £35 billion by 2030-31.
As with all taxes, the Government keeps the tax system under review, and decisions on tax policy are taken by the Chancellor at the budget.
To ask His Majesty's Government, following the discontinuation of the Franco-German plans to jointly develop a next generation fighter jet, what assessment they have made of the (1) implications, and (2) opportunities, for the UK's Global Combat Air Programme.
To ask His Majesty's Government, following the discontinuation of the Franco-German plans to jointly develop a next generation fighter jet, what assessment they have made of the (1) implications, and (2) opportunities, for the UK's Global Combat Air Programme.
The Global Combat Air Programme (GCAP) has been designed with Allies and partners at its heart and interoperability at the centre of its development.
We and our GCAP partners Italy and Japan agree that the programme is in principle open to additional partners to secure burden-sharing, industrial benefits and growth opportunities, as long as programme delivery is assured. Decisions on any additional partners will be made jointly with Italy and Japan.
To ask His Majesty's Government what plans they have to allow grandparents to open Junior ISAs on behalf of their grandchildren.
To ask His Majesty's Government what plans they have to allow grandparents to open Junior ISAs on behalf of their grandchildren.
Individual Savings Accounts (ISA) rules are clear that only someone with parental responsibility for the child may open and manage a Junior ISA (JISA). This helps prevent more than one JISA of each type (cash or stocks and shares) being opened in error and ensures that there is a single point of contact for the giving of instructions. A grandparent who does not have parental responsibility is therefore unable to open or manage a Junior ISA on behalf of their grandchild.
While only parents or legal guardians can open a JISA on behalf of their children, grandparents can then add funds to the account, up to the value of £9,000 a year.
As with all aspects of the tax system, the Government keeps the JISA policy under review.
My Lords, we still may sing “Rule Brittania”, but the reality is that our navy at present is, frankly, a national embarrassment. Obviously, we are glad that the “Prince of Wales” is now back in action, but will the Minister comment on newspaper reports that all our non-ballistic submarines are...
My Lords, we still may sing “Rule Brittania”, but the reality is that our navy at present is, frankly, a national embarrassment. Obviously, we are glad that the “Prince of Wales” is now back in action, but will the Minister comment on newspaper reports that all our non-ballistic submarines are...
Could the Minister tell us whether the defence investment plan is likely to be published during the premiership of the present Prime Minister?
Could the Minister tell us whether the defence investment plan is likely to be published during the premiership of the present Prime Minister?
My Lords, I draw attention to my entry in the register.
Who is to blame for the parlous state of our Armed Forces: politicians, the media or the public? I would suggest all three, but the prime responsibility surely lies with our political leaders—successive Prime Ministers and Chancellors of the Exchequer—for...
My Lords, I draw attention to my entry in the register.
Who is to blame for the parlous state of our Armed Forces: politicians, the media or the public? I would suggest all three, but the prime responsibility surely lies with our political leaders—successive Prime Ministers and Chancellors of the Exchequer—for...
To ask His Majesty's Government whether they will fit 30mm naval weapon systems to HMS Queen Elizabeth and HMS Prince of Wales, given increased threats from unmanned aerial vehicles to naval vessels; and if not, why.
To ask His Majesty's Government whether they will fit 30mm naval weapon systems to HMS Queen Elizabeth and HMS Prince of Wales, given increased threats from unmanned aerial vehicles to naval vessels; and if not, why.
There are no plans to fit a 30mm weapon system to HMS Queen Elizabeth or HMS Prince of Wales. The Queen Elizabeth Class carriers are equipped with a range of defensive systems, which along with escort vessels and wider force protection measures, provide a layered defensive system that is effective against a wide range of threats, including emerging uncrewed aerial threats.
My Lords, too often directors forget that it is shareholders who own the company. To hold AGMs entirely virtually, barring shareholders’ attendance, is in my view arrogant, unacceptable and sometimes, frankly, cowardly. Institutional shareholders have near-continuous access to boards, but the AGM is normally private shareholders’ only opportunity. It is not just the formal part of the meeting but the opportunity to meet and question directors in the margins of the meeting. Of course, sometimes only a handful of shareholders turn up, and, yes, there is a cost, but we are talking here of the principle of shareholders’ rights. Surely the way forward is hybrid AGMs, with a choice of either virtual or physical attendance.
My Lords, too often directors forget that it is shareholders who own the company. To hold AGMs entirely virtually, barring shareholders’ attendance, is in my view arrogant, unacceptable and sometimes, frankly, cowardly. Institutional shareholders have near-continuous access to boards, but the AGM is normally private shareholders’ only opportunity. It is not just the formal part of the meeting but the opportunity to meet and question directors in the margins of the meeting. Of course, sometimes only a handful of shareholders turn up, and, yes, there is a cost, but we are talking here of the principle of shareholders’ rights. Surely the way forward is hybrid AGMs, with a choice of either virtual or physical attendance.
The Government are not mandating virtual AGMs and there will be nothing to stop companies holding hybrid AGMs. As the people best placed to make decisions about their businesses, we are giving companies and shareholders the legal certainty to undertake fully virtual AGMs if it is right for them. Many investor groups in favour of hybrid AGMs support fully virtual AGMs in extraordinary circumstances. This legal clarity will provide companies the certainty they need in those situations.
To ask His Majesty’s Government what assessment they have made of the effect of companies holding their annual general meetings solely online on individual shareholders’ ability to hold directors to account.
To ask His Majesty’s Government what assessment they have made of the effect of companies holding their annual general meetings solely online on individual shareholders’ ability to hold directors to account.
My Lords, the Government announced on 20 January that fully virtual annual general meetings would be included in the upcoming consultation on modernising corporate reporting. Officials are engaging with investors and businesses on the practicalities of this. We will ensure that fully virtual meetings take place only where shareholders agree and that any change is accompanied by appropriate shareholder safeguards, co-created with investors and business. A full assessment will be made following the consultation and engagement period.
To ask His Majesty's Government what progress they have made towards equipping UK armed forces with nuclear weapon capability additional to the submarine continuous at-sea deterrent.
To ask His Majesty's Government what progress they have made towards equipping UK armed forces with nuclear weapon capability additional to the submarine continuous at-sea deterrent.
The United Kingdom will purchase 12 F-35A aircraft and join NATO’s Dual Capable Aircraft (DCA) nuclear mission. This is not a decision to acquire a second sovereign delivery system, and the nuclear weapons allocated to the NATO DCA mission are United States nuclear weapons which remain under US custody and control.
The UK will continue to rely on its four nuclear deterrent submarines. A submarine based deterrent system has served the UK well for decades, providing the assured second-strike capability that is the foundation of the UK’s national security, and we expect a submarine-based approach will continue to offer a high level of capability.
To ask His Majesty's Government what assessment they have made of President Macron's announcement that he intends to make France's nuclear capability available to its European allies.
To ask His Majesty's Government what assessment they have made of President Macron's announcement that he intends to make France's nuclear capability available to its European allies.
At the 2025 UK-France Summit, and through the Northwood Declaration, His Majesty’s Government agreed concrete steps to further strengthen the United Kingdom’s nuclear co-operation with France. Both nations are resolved to deter threats against Europe. The UK's nuclear deterrent remains declared to the defence of NATO, and our collaboration with France strengthens our existing commitments to our Allies. We welcome the proposals set out by President Macron to co-operate more closely with Allies on nuclear issues.
To ask His Majesty's Government what restrictions, if any, were placed on the remit of the reviewers authoring the Strategic Defence Review, published on 2 June 2025.
To ask His Majesty's Government what restrictions, if any, were placed on the remit of the reviewers authoring the Strategic Defence Review, published on 2 June 2025.
The Strategic Defence Review (SDR) was an external document. It was presented to the Department by the external reviewers, who were working to the Terms of Reference that the review be deliverable and affordable within the fiscal envelope available to Defence
The reviewers of the SDR were able to consider all aspects of Defence, with discretion to examine additional issues that arose during the Review. Their remit included established parameters such as the Government's commitment to the independent nuclear deterrent, NATO as the cornerstone of UK Defence, support for Ukraine, and the need to maintain defence ties with key regions.
To ask His Majesty's Government what criteria the Defence Office for Small Business Growth will use to define (1) small businesses, and (2) small contracts.
To ask His Majesty's Government what criteria the Defence Office for Small Business Growth will use to define (1) small businesses, and (2) small contracts.
The Ministry of Defence’s definition of a SME is aligned with that outlined in the Procurement Act 2023, namely they must have fewer than 250 staff, less than or equal to £44 million in annual turnover or a balance sheet total of less than or equal to £38 million, and independent of any larger parent organisation. We would consider small contracts to be those of a total contractual value of £1 million or less.
To ask His Majesty's Government what assessment they have made of the impact of the issuance process for export health certificates to British companies exporting natural animal health products to Bahrain and the wider Middle East in establishing a level playing field with international competitors in the region.
To ask His Majesty's Government what assessment they have made of the impact of the issuance process for export health certificates to British companies exporting natural animal health products to Bahrain and the wider Middle East in establishing a level playing field with international competitors in the region.
The UK and Bahrain enjoy a strong trading relationship, including in agri-food goods. Import conditions vary on the specific goods – and this is for each country to determine, according to its own biosecurity considerations. The Government’s Export Support Service provides information to exporters, including documentation typically needed by the importing nation.
To ask His Majesty's Government whether they plan to reduce the number of civilians employed by the Ministry of Defence to a specific number; and, if so, what progress is being made in achieving this.
To ask His Majesty's Government whether they plan to reduce the number of civilians employed by the Ministry of Defence to a specific number; and, if so, what progress is being made in achieving this.
In line with recommendations from the Strategic Defence Review, the MOD aims to reduce civil service costs by at least 10% by 2030. To achieve this, the Department is employing a range of workforce levers to facilitate a measured and sustainable approach to workforce reductions.
The MOD remains committed to transparency and will continue to provide updates on workforce matters through regular publications, including the Annual Report and Accounts.
To ask His Majesty's Government what options they are considering for the future of the RFA Argus.
To ask His Majesty's Government what options they are considering for the future of the RFA Argus.
The Royal Fleet Auxiliary continue to work alongside DE&S, surveyors and commercial partners to assess the cost and value of effecting the required repairs.
To ask His Majesty's Government how many Hamas fighters they estimate have been killed since 7 October 2023; and what they estimate is the current size of their military force following likely recent recruitment.
To ask His Majesty's Government how many Hamas fighters they estimate have been killed since 7 October 2023; and what they estimate is the current size of their military force following likely recent recruitment.
The Foreign, Commonwealth and Development Office does not produce estimates on these figures.
To ask His Majesty's Government, further to the Written Answer by Lord Coaker on 17 October (HL10809), whether they will now answer the question put, namely what progress they have made in providing the United Kingdom with the ability to deliver airborne nuclear weapons, and what is the projected timetable of...
To ask His Majesty's Government, further to the Written Answer by Lord Coaker on 17 October (HL10809), whether they will now answer the question put, namely what progress they have made in providing the United Kingdom with the ability to deliver airborne nuclear weapons, and what is the projected timetable of...
Further details on the delivery of defence capabilities and timelines will be published in the forthcoming Defence Investment Plan. This includes details relating to the acquisition of the 12 F-35A aircraft which the UK will contribute to NATO’s dual capable aircraft nuclear mission.
To ask His Majesty's Government what progress they have made in providing the United Kingdom with the ability to deliver airborne nuclear weapons, and what is the projected timetable of such capability.
To ask His Majesty's Government what progress they have made in providing the United Kingdom with the ability to deliver airborne nuclear weapons, and what is the projected timetable of such capability.
The United Kingdom remains committed to its obligations under NATO's nuclear deterrence framework. Further details on the delivery of defence capabilities and timelines, including those announced in the Strategic Defence Review, will be communicated in the forthcoming Defence Investment Plan.