Economy: Public Sector Net Borrowing

Baroness Symons of Vernham Dean Excerpts

Monday 14th July 2014 Lords Chamber

[Lord Newby]

My Lords, I agree with the noble Lord. The relationship between debt and GDP is set to rise for a number of years more, even as we continue to reduce the deficit.

[Baroness Symons of Vernham Dean (Lab)]

My Lords, given that the Minister answers for the whole House, and given that this Question is about savings and the economy, can he please tell us why a Statement has not been made to the House, yet the Prime Minister spoke this morning at the Farnborough air show about budgetary savings that have led, apparently, to extra expenditure on counterterrorism and cybersecurity? The Prime Minister said that these were very important announcements, and they were indeed. Should they not have been made to Parliament?

[Lord Newby]

My Lords, there are always questions when statements are made outside the House as to whether they should have been made inside the House. If the noble Baroness is concerned about it, she of course has the option of asking an Urgent Question.

Payday Loans: Advertisements

Baroness Symons of Vernham Dean Excerpts

Thursday 3rd April 2014 Lords Chamber

[Baroness Symons of Vernham Dean (Lab)]

My Lords, children do not watch only programmes that are designed for them; in some households they watch programmes all day. Can the Minister tell the House what percentage of advertising in general across the schedule is advertising for payday loans?

[Lord Newby]

My Lords, I do not have that figure. I will write to the noble Baroness.

Taxation: Avoidance

Baroness Symons of Vernham Dean Excerpts

Thursday 14th March 2013 Lords Chamber

[Lord Newby]

The road to the GAAR, as it were, was long and difficult. As the noble Baroness will know, it was resolutely opposed by the party opposite when it was in government. We are making a proportionate start, and hope that it will be successful in dealing with the most egregious tax avoidance schemes. The great thing about it is that it is a deterrent. It will definitely be kept under review, but it is a big step forward, and we should not underestimate that.

[Baroness Symons of Vernham Dean]

My Lords, the noble Lord mentioned tax avoidance in the context of the G8, which this country is hosting later this year. Are there any plans to involve HMRC in discussions on the Deauville process with regard to the Arab countries in transition that want or need to look again at their tax systems?

[Lord Newby]

My Lords, I think there is a willingness on the part of HMRC and the Government more generally to work with any country that seeks to do that. As I say, we are already working with 20 countries. In recent months, DfID and HMRC have been looking together at how to put together a business case to allocate more resources to this area. The interesting thing about it is that this is a relatively new area. We have realised that we have expertise that can make a big difference to a whole raft of developing countries, and we are very keen now to capitalise on it.

EU: Membership

Baroness Symons of Vernham Dean Excerpts

Monday 8th November 2010 Lords Chamber

[Lord Sassoon]

My Lords, I suppose there was a question in there for me somewhere. I certainly agree with my noble friend that the City of London over a number of decades has indeed become the principal financial centre for the European Union. It is important that business across the European Union understands what benefit it gets out of the financing that goes through the City of London.

[Baroness Symons of Vernham Dean]

My Lords, the Minister said a moment or two ago that the only reason that the 2.9 per cent had been adhered to was because of the Prime Minister’s intervention. Indeed, the Prime Minister claimed he was “building an alliance” to “insist on the 2.9%”. Can the Minister explain therefore why it was that before the Prime Minister’s intervention 20 countries supported the 2.9 per cent cap, and after the Prime Minister’s intervention only 13 did?