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To ask the Secretary of State for Business and Trade, whether his Department has updated its computable general equilibrium models to incorporate post-2024 trade flow data.
To ask the Secretary of State for Business and Trade, whether his Department has updated its computable general equilibrium models to incorporate post-2024 trade flow data.
DBT uses data provided by the Global Trade Analysis Project (GTAP) for CGE modelling. The latest publicly available data is GTAP 11 with the latest reference year 2017. As a consortium member of the Project, we have early access to forthcoming newer versions before they are published. Making use of this we used the pre-publication GTAP 12 dataset, with latest reference year 2019, for the modelling presented in the Impact Assessment of the UK-India Free Trade Agreement.
To ask His Majesty's Government when they expect to publish the independent economic analysis of community pharmacy commissioned by NHS England.
To ask His Majesty's Government when they expect to publish the independent economic analysis of community pharmacy commissioned by NHS England.
NHS England commissioned Frontier Economics to undertake an independent economic analysis of National Health Service pharmacy funding in 2024. This work is nearing completion and will be published at the earliest opportunity.
To ask the Chancellor of the Exchequer, if he will publish a list of the policies announced by His Majesty’s Opposition since 4 April 2020 in respect of which officials in his Department have produced formal analysis of the potential fiscal and economic impact, and if he will set out...
To ask the Chancellor of the Exchequer, if he will publish a list of the policies announced by His Majesty’s Opposition since 4 April 2020 in respect of which officials in his Department have produced formal analysis of the potential fiscal and economic impact, and if he will set out...
There is a formal process for HM Treasury Ministers to commission officials to produce analysis of the potential fiscal and economic impacts of opposition policies. No formal analysis of opposition policies has been produced through this process in the period referenced.
To ask the Secretary of State for Work and Pensions, what regional economic impact assessment her Department has made of removing the £20 uplift to the universal credit standard allowance.
To ask the Secretary of State for Work and Pensions, what regional economic impact assessment her Department has made of removing the £20 uplift to the universal credit standard allowance.
No assessment has been made.
Universal Credit has provided a vital safety net for six million people during the pandemic, and we announced the temporary uplift as part of a £400 billion package of measures put in place that will last well beyond the end of the roadmap. Our focus now is on our multi-billion Plan for Jobs, which will support people in the long-term by helping them learn new skills and increase their hours or find new work.
To ask the Secretary of State for Housing, Communities and Local Government, if he will publish the Index of Economic Need methodology.
To ask the Secretary of State for Housing, Communities and Local Government, if he will publish the Index of Economic Need methodology.
As set out in the prospectus published at Budget, the index used for the Levelling Up Fund places areas into category one, two or three based on the local area’s need for economic recovery and growth, improved transport connectivity, and regeneration. We will shortly publish further detail on the methodology used to calculate the index.
My right hon. Friend has rightly been open with the House and the public about the scale of the challenge to the public finances, but on a point of detail, further to the assumptions in the Red Book, does his Department plan to undertake dynamic scoring of the changes to corporation akin to the previous detailed CGE—computable general equilibrium —modelling since 2010, and will this be published in full?
My right hon. Friend has rightly been open with the House and the public about the scale of the challenge to the public finances, but on a point of detail, further to the assumptions in the Red Book, does his Department plan to undertake dynamic scoring of the changes to corporation akin to the previous detailed CGE—computable general equilibrium —modelling since 2010, and will this be published in full?
What a fantastically niche question from my hon. Friend, and how delighted I am to be able to answer it. He will know that scoring is a matter for the OBR. As the Budget policy costings in the Budget 2021 document set out, the costing for corporation tax has been adjusted to reflect behavioural responses to an increase in the rate of corporation tax. It is important to be clear that dynamic scoring can include a number of potential behavioural responses, such as adjustments to reflect the impact on the incentive to incorporate, on profit shifting, and on investment. If he is so minded, he can find further detail on page 196 of the OBR’s “Economic and fiscal outlook”.
What a fantastically niche question from my hon. Friend, and how delighted I am to be able to answer it. He will know that scoring is a matter for the OBR. As the Budget policy costings in the Budget 2021 document set out, the costing for corporation tax has been adjusted to reflect behavioural responses to an increase in the rate of corporation tax. It is important to be clear that dynamic scoring can include a number of potential behavioural responses, such as adjustments to reflect the impact on the incentive to incorporate, on profit shifting, and on investment. If he is so minded, he can find further detail on page 196 of the OBR’s “Economic and fiscal outlook”.
What a fantastically niche question from my hon. Friend, and how delighted I am to be able to answer it. He will know that scoring is a matter for the OBR. As the Budget policy costings in the Budget 2021 document set out, the costing for corporation tax has been adjusted to reflect behavioural responses to an increase in the rate of corporation tax. It is important to be clear that dynamic scoring can include a number of potential behavioural responses, such as adjustments to reflect the impact on the incentive to incorporate, on profit shifting, and on investment. If he is so minded, he can find further detail on page 196 of the OBR’s “Economic and fiscal outlook”.
My right hon. Friend has rightly been open with the House and the public about the scale of the challenge to the public finances, but on a point of detail, further to the assumptions in the Red Book, does his Department plan to undertake dynamic scoring of the changes to corporation akin to the previous detailed CGE—computable general equilibrium —modelling since 2010, and will this be published in full?
My Lords, I apologise for the fact that our BT hub has been playing hell with us this morning—and indeed for several days—which prevented my coming in earlier. I am grateful to those who have accommodated my coming in now.
I want to speak briefly but very strongly in support of...
My Lords, I apologise for the fact that our BT hub has been playing hell with us this morning—and indeed for several days—which prevented my coming in earlier. I am grateful to those who have accommodated my coming in now.
I want to speak briefly but very strongly in support of...
My Lords, I drafted Amendment 109 essentially in reaction to Amendment 106 proposed by the noble Lord, Lord Stevenson, which
would require the group of non-executive directors of the TRA to include stakeholders. I have no problem with people with those backgrounds and expertise being on that board, but I...
My Lords, I drafted Amendment 109 essentially in reaction to Amendment 106 proposed by the noble Lord, Lord Stevenson, which
would require the group of non-executive directors of the TRA to include stakeholders. I have no problem with people with those backgrounds and expertise being on that board, but I...
My Lords, we have had a most interesting debate on this group of amendments, particularly touching on many aspects of corporate governance. To put my cards on the table, I am a fervent believer that good corporate governance leads to good decisions. Noble Lords were absolutely right to make their...
My Lords, we have had a most interesting debate on this group of amendments, particularly touching on many aspects of corporate governance. To put my cards on the table, I am a fervent believer that good corporate governance leads to good decisions. Noble Lords were absolutely right to make their...
My Lords, I thank all noble Lords for their contribution to this debate. I especially thank those who supported the amendments in either my name or that of my noble friend Lord Bassam, particularly my noble friends Lord Rooker and Lord Judd.
My noble friend Lord Rooker made a very good...
My Lords, I thank all noble Lords for their contribution to this debate. I especially thank those who supported the amendments in either my name or that of my noble friend Lord Bassam, particularly my noble friends Lord Rooker and Lord Judd.
My noble friend Lord Rooker made a very good...
My Lords, in moving Amendment 84 I will also speak to Amendments 87 and 88 in this group. These are all probing amendments. We have now arrived at the trade information clauses. They are much less exciting than some of the other clauses we have debated earlier. At first sight...
My Lords, in moving Amendment 84 I will also speak to Amendments 87 and 88 in this group. These are all probing amendments. We have now arrived at the trade information clauses. They are much less exciting than some of the other clauses we have debated earlier. At first sight...
My Lords, I support my noble friend Lady Noakes on these amendments. Their purport is to protect company data in line with government wishes, if the Explanatory Notes are to be believed—as I am sure they should be. In particular, it is claimed that the provision of data is to...
My Lords, I support my noble friend Lady Noakes on these amendments. Their purport is to protect company data in line with government wishes, if the Explanatory Notes are to be believed—as I am sure they should be. In particular, it is claimed that the provision of data is to...
My Lords, I share the concern of the noble Lord, Lord Bassam, and the noble Baroness, Lady Noakes, about the creeping power of HMRC to demand information, potentially from anyone, without any controls or supervision. I am a member of the Finance Bill Sub-Committee, and this is a matter that...
My Lords, I share the concern of the noble Lord, Lord Bassam, and the noble Baroness, Lady Noakes, about the creeping power of HMRC to demand information, potentially from anyone, without any controls or supervision. I am a member of the Finance Bill Sub-Committee, and this is a matter that...
My Lords, I support Amendment 84 in the name of my noble friend Lady Noakes, which she moved so eloquently. Like her, I am a strong supporter of the Government’s trade policies, but I share her wariness about the Bill’s powers to require disclosure of information. I believe that it...
My Lords, I support Amendment 84 in the name of my noble friend Lady Noakes, which she moved so eloquently. Like her, I am a strong supporter of the Government’s trade policies, but I share her wariness about the Bill’s powers to require disclosure of information. I believe that it...