Overseas Territories: Tax Haven Status

Debate between Baroness Vere of Norbiton and Lord Hannan of Kingsclere

Monday 26th February 2024 Lords Chamber

[Baroness Vere of Norbiton (Con)]

Obviously, I cannot comment on any individual’s tax affairs, but it is the case that overseas territories are non-sovereign jurisdictions. They have a unique relationship as part of the British family, but they set out their own tax legislation within their own legal structures and it is certainly not for the UK Government or Parliament to drive a coach and horses through that.

[Lord Hannan of Kingsclere (Con)]

My Lords, has the Minister’s department carried out any assessment of how much higher tax rates would be in the rest of the world if there were not competition from these lower-tax jurisdictions to keep us in check?

[Baroness Vere of Norbiton (Con)]

I am afraid I have to say to the noble Lord that we have not carried out that assessment.

HGVs: Charging and Refuelling

Debate between Baroness Vere of Norbiton and Lord Hannan of Kingsclere

Monday 22nd May 2023 Lords Chamber

[Baroness Vere of Norbiton (Con)]

I accept it is most likely that a hydrogen refuelling infrastructure will be needed. That is exactly why the Government are taking time, over the next six months or so, working with the stakeholders who sit on the Freight Energy Forum to establish exactly what that might look like. We need to set the strategic direction to ensure that the infrastructure is in place for 2040, but we also need to look at the evidence that will come from the zero-emission road freight demonstrator programme so that it can feed into that strategy.

[Lord Hannan of Kingsclere (Con)]

My Lords, I am encouraged by my noble friend the Minister’s reply to my noble friend Lord Lansley. It takes up to 10 hours for an HGV to plug in and recharge from one of these stations. More to the point, China controls 75% of battery production, but hydrogen is a race we are well placed to win. What plans does my noble friend have to work with producers of HGVs—not only fuel rod producers but producers of internal combustion engines that run on hydrogen—to achieve a workable rollout which will cover our transport networks?

[Baroness Vere of Norbiton (Con)]

My noble friend is right that working with stakeholders is key. The Government cannot solve the industry’s issues in this regard by centralising the decision-making for them, and it will be up to the stakeholders to decide what sort of vehicles they believe will be taken forward. I believe it will be a combination of battery electric and hydrogen fuel cells, and that is why the infrastructure strategy we are working on is so important. My noble friend mentioned hydrogen internal combustion engines. We believe that they are not zero-emission engines as they produce trace carbon dioxide and NOx. They also have very low energy efficiency in real-world applications, at about 25%, compared to 90% for battery electric and about 60% for hydrogen fuel cells.