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Tag: Lord Wills

  • Lord Wills – 2014 Parliamentary Question to the HM Treasury

    Lord Wills – 2014 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Lord Wills on 2014-04-03.

    To ask Her Majesty’s Government what new measures they will put in place to protect against the mis-selling of financial advice to people retiring under the new pension arrangements announced in the 2014 Budget.

    Lord Deighton

    Alongside the pensions flexibility announced at Budget, the government announced a new guarantee that everyone with a defined contribution pension will be offered free and impartial face to face guidance on their financial choices in retirement when they retire. The Government is consulting on how best to deliver this guidance as part of its consultation, ‘Flexibility and Choice in Pensions’.

    The guidance will be designed to help consumers navigate the options available and is not intended to replace the services of professional financial advice. The government expects that many consumers will go on to seek further advice and will ensure that the guidance equips consumers to choose the advisory service that suits their needs.

    The government has asked the Financial Conduct Authority (FCA) to coordinate the development of robust standards for this guidance and a framework for monitoring compliance.

    Professional financial advice is regulated by the FCA. The FCA’s statutory objectives and regulatory powers are geared to protect consumers. The FCA has committed to taking a proactive and interventionist approach to retail conduct regulation.

  • Lord Wills – 2014 Parliamentary Question to the HM Treasury

    Lord Wills – 2014 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Lord Wills on 2014-04-03.

    To ask Her Majesty’s Government what estimate they have made of the impact on public spending as a result of the new pension arrangements announced in the 2014 Budget.

    Lord Deighton

    The impact will depend on how people choose to use their pension savings, which is difficult to predict. The Government expects any impact to be small in the context of the other pension measures announced in this Parliament – including State Pension age changes, the introduction of the single tier pension and public service pension reform – which are projected to save around £17 billion in 2030 in today’s terms. The estimated net fiscal impact of pension changes announced in this Parliament can be found in Chart 1.12 of the Red Book here: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293759/37630_Budget_2014_Web_Accessible.pdf

  • Lord Wills – 2014 Parliamentary Question to the Department for Communities and Local Government

    Lord Wills – 2014 Parliamentary Question to the Department for Communities and Local Government

    The below Parliamentary question was asked by Lord Wills on 2014-05-06.

    To ask Her Majesty’s Government, further to the Written Answer by Baroness Stowell of Beeston on 9 April (WA 304), whether the range of services to which they refer includes electoral registration.

    Baroness Stowell of Beeston

    Local authorities are statutorily required to provide a number of services including electoral registration. Section 8 of the Representation of the People Act 1983 provides for the appointment of an officer of the council to be the Registration Officer for the registration of parliamentary and local government electors, and section 54 of that Act provides that expenses properly incurred by a registration officer in the performance of his registration duties shall be paid by the local authority by whom the registration officer was appointed.

    Additionally, the Government has committed to funding all net costs of the transition to Individual Electoral Registration to ensure that authorities are not left with unfunded burdens in line with the New Burdens Doctrine. In April 2014 the programme paid non-ring fenced section 31 grants to local authorities in England and Wales and paid invoices directly to Scotland to cover core Individual Electoral Registration costs.

  • Lord Wills – 2014 Parliamentary Question to the Cabinet Office

    Lord Wills – 2014 Parliamentary Question to the Cabinet Office

    The below Parliamentary question was asked by Lord Wills on 2014-06-09.

    To ask Her Majesty’s Government, further to the answer by Lord Hill of Oareford on 8 May (HL Deb, col 1574), when will they respond to the email sent by Lord Wills to Roger Smethurst at the Cabinet Office on 14 March.

    Lord Wallace of Saltaire

    Mr Smethurst replied to the noble lord on 23 June 2014.

  • Lord Wills – 2014 Parliamentary Question to the Department for Communities and Local Government

    Lord Wills – 2014 Parliamentary Question to the Department for Communities and Local Government

    The below Parliamentary question was asked by Lord Wills on 2014-06-09.

    To ask Her Majesty’s Government, further to the Written Answer by Baroness Stowell of Beeston on 14 May (WA 507), what allowance was made in each of the last five years for funding local authorities to pay the expenses incurred by a registration officer in the performance of their registration duties.

    Baroness Stowell of Beeston

    Funding for local authorities provided by central Government through Formula Grant up until 2012-13 or the current Business Rates Retention scheme is un-hypothecated and, therefore, it is not possible to provide a figure for any specific service in a year. Funding for all net costs of the transition to Individual Electoral Registration is paid through non-ring fenced section 31 grants to local authorities in England. Spending decisions are made by local authorities and details of expenditure can be found in the annual Local Government statistics at:

    www.gov.uk/government/publications/local-government-financial-statistics-england-2014

    Details of the Individual Electoral Registration funding are available at:

    https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/254816/Indicative_allocations_spreadsheet_formatted.xlsx

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