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Sterling often changes in value relative to other currencies. Find the latest data on exchange rates overall and against the dollar and euro.
Sterling often changes in value relative to other currencies. Find the latest data on exchange rates overall and against the dollar and euro.
Census of the membership, makeup, funding and remuneration arrangements for Overseas Territory legislatures.
Census of the membership, makeup, funding and remuneration arrangements for Overseas Territory legislatures.
Motion to consider. Agreed to on question.
Motion to consider. Agreed to on question.
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, if he will make an assessment of the potential impact of Ghana's gold for Oil policy on the Ghanian Cedi.
To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, if he will make an assessment of the potential impact of Ghana's gold for Oil policy on the Ghanian Cedi.
The UK has noted Ghana's Gold Purchase Programme and will watch its development with interest. The UK is supporting Ghana as it navigates a set of economic challenges.
To ask His Majesty's Government what assessment they have made of the exposure of UK investors to Chinese government bonds and stocks following the fall of the Hang Seng Index; and what holdings they currently have in the (1) Hong Kong dollar, and (2) Renminbi.
To ask His Majesty's Government what assessment they have made of the exposure of UK investors to Chinese government bonds and stocks following the fall of the Hang Seng Index; and what holdings they currently have in the (1) Hong Kong dollar, and (2) Renminbi.
HM Treasury works closely with the UK’s independent financial regulators - including the Bank of England and Financial Conduct Authority to monitor risks to the UK financial system.
The Government does not comment on specific financial market movements. However, the results of the Bank of England's 2021 stress test concluded that the UK banking sector is resilient to a sharp contraction in both China and Hong Kong's economic activity.
Figures from the Office for National Statistics estimate that UK investors owned around £409bn of investment in China and Hong Kong at the end of 2021- or around 3% of the UK’s total investment held overseas. This compares to £4.3tn of investment held in the USA and £4.6tn in the EU.
To ask the Secretary of State for Defence, which major components of the UK's F-35 fleet have been bought in (a) GBP, (b) USD and (c) other currencies.
To ask the Secretary of State for Defence, which major components of the UK's F-35 fleet have been bought in (a) GBP, (b) USD and (c) other currencies.
The F-35 programme is managed through a US Government Joint Program Office (JPO) based in the USA, which places F-35 contracts with industry on behalf of the F-35 Partner Nations. These contracts cover major components incorporated in the UK's fleet. In accordance with US law and US federal acquisition rules and regulations, all the JPO's contracts are denominated in US dollars and the UK makes its payments to the JPO in US dollars.
To ask the Secretary of State for Business, Energy and Industrial Strategy, how much foreign currency was spent on importing gas between November 2021 and March 2022.
To ask the Secretary of State for Business, Energy and Industrial Strategy, how much foreign currency was spent on importing gas between November 2021 and March 2022.
The Government does not directly contract for gas. Gas is bought and sold by commercial players. The Government does not have access to data on individual gas market trades. This includes currency used in commercial transactions by gas importers.
To ask the Chancellor of the Exchequer, for what reason the Manx pound has not been approved for use as legal currency in the UK.
To ask the Chancellor of the Exchequer, for what reason the Manx pound has not been approved for use as legal currency in the UK.
The Isle of Man is not part of the UK, but is a self-governing dependency of the Crown, and issues its own currency that is governed under Manx law.
It is also not the case that payment between contracting parties in the UK must necessarily be made using a specified method of payment. It is a matter for the prospective parties to a contract to stipulate whatever form of payment they wish.
To ask Her Majesty's Government whether payments made under the Basic Payment Scheme of the Common Agricultural Policy in respect of harvest 2019 will be set in sterling or in euros.
To ask Her Majesty's Government whether payments made under the Basic Payment Scheme of the Common Agricultural Policy in respect of harvest 2019 will be set in sterling or in euros.
This year’s Basic Payment Scheme (BPS 2019) payments for England will continue to be calculated in euros and then converted into sterling unless a farmer has opted to receive a euro payment.
The euro exchange rate used to make payments in sterling will be the average of the European Central Bank rates set over the month of September 2019. This exchange rate will be published on GOV.UK when it is announced.
There are so many different layers to this. Going into the day-to-day costs in pounds sterling is bad enough, but adding the uncertainty of trying to set up a whole new currency from scratch takes us into the realm of fantasy.
We have a good opportunity, through smart industrial policy, to...
There are so many different layers to this. Going into the day-to-day costs in pounds sterling is bad enough, but adding the uncertainty of trying to set up a whole new currency from scratch takes us into the realm of fantasy.
We have a good opportunity, through smart industrial policy, to...
The SNP Scottish Government have resurrected Alex Salmond’s call for a Scottish currency. Does the Prime Minister agree that this is reckless and risks destabilising the Scottish economy?
The SNP Scottish Government have resurrected Alex Salmond’s call for a Scottish currency. Does the Prime Minister agree that this is reckless and risks destabilising the Scottish economy?
I seem to recall that, back in the 2014 referendum, the SNP were absolutely adamant that Scotland would keep the pound. There have been a few changes since then. They have looked at the option of the euro, then they went back to sterling, and now they are into an independent currency. This Government are working to secure a Brexit deal that protects jobs and our economy. The SNP should focus on that rather than continuing to pursue their independence fantasy.
I seem to recall that, back in the 2014 referendum, the SNP were absolutely adamant that Scotland would keep the pound. There have been a few changes since then. They have looked at the option of the euro, then they went back to sterling, and now they are into an independent currency. This Government are working to secure a Brexit deal that protects jobs and our economy. The SNP should focus on that rather than continuing to pursue their independence fantasy.
I seem to recall that, back in the 2014 referendum, the SNP were absolutely adamant that Scotland would keep the pound. There have been a few changes since then. They have looked at the option of the euro, then they went back to sterling, and now they are into an independent currency. This Government are working to secure a Brexit deal that protects jobs and our economy. The SNP should focus on that rather than continuing to pursue their independence fantasy.
The SNP Scottish Government have resurrected Alex Salmond’s call for a Scottish currency. Does the Prime Minister agree that this is reckless and risks destabilising the Scottish economy?
To ask the Secretary of State for International Development, what steps her Department is taking to ensure the development of adequate supplies of (a) fuel and (b) hard currency in Zimbabwe.
To ask the Secretary of State for International Development, what steps her Department is taking to ensure the development of adequate supplies of (a) fuel and (b) hard currency in Zimbabwe.
We are encouraging the Government of Zimbabwe to seek IMF advice on the reforms needed to address the current macroeconomic challenges including ensuring adequate supplies of fuel and hard currency in Zimbabwe.
Lords motions to approve. Agreed to on question.
Lords motions to approve. Agreed to on question.
My Lords, these statutory instruments form part of the work being delivered to ensure that there continues to be a functioning legislative and regulatory regime for financial services in a scenario where the UK leaves the EU without a deal or an implementation period. In this instance, they will fix...
My Lords, these statutory instruments form part of the work being delivered to ensure that there continues to be a functioning legislative and regulatory regime for financial services in a scenario where the UK leaves the EU without a deal or an implementation period. In this instance, they will fix...
My Lords, that all sounds terribly straightforward. I shall just make a short comment and ask my noble friend one or two questions. In the European Parliament I was involved in matters such as the SWIFT banking arrangements for fast transfer of funds, particularly across the Atlantic with our United...
My Lords, that all sounds terribly straightforward. I shall just make a short comment and ask my noble friend one or two questions. In the European Parliament I was involved in matters such as the SWIFT banking arrangements for fast transfer of funds, particularly across the Atlantic with our United...
My Lords, I am afraid your Lordships have the reserve team from these Benches, since my noble friend Lady Bowles was the intended lead on this series of statutory instruments. However, with the change in the timing of the debate in the House today, she has had to go to...
My Lords, I am afraid your Lordships have the reserve team from these Benches, since my noble friend Lady Bowles was the intended lead on this series of statutory instruments. However, with the change in the timing of the debate in the House today, she has had to go to...
My Lords, I thank the Minister for introducing these SIs. They are two of the 70 that we have to deal with and it is a rare privilege to do so
in such a crowded Chamber. Normally, the noble Lord, Lord Bates, and I are allowed the privacy of the...
My Lords, I thank the Minister for introducing these SIs. They are two of the 70 that we have to deal with and it is a rare privilege to do so
in such a crowded Chamber. Normally, the noble Lord, Lord Bates, and I are allowed the privacy of the...