Asked by: Baroness Scott of Needham Market (Liberal Democrat - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government what assessment they have made of the interest rate rises announced by the Public Works Loan Board.
Answered by Earl of Courtown - Opposition Deputy Chief Whip (Lords)
In raising interest rates for new loans from the Public Works Loan Board, the Treasury assessed the potential impact on local government capital plans. Local authorities continue to benefit from very favourable interest rates on Public Works Loan Board loans. This increase returned Public Works Loan Board rates to levels that were available in 2018.The Government will continue to work with individual authorities on a case-by-case basis if they raise concerns over their financial position.
Asked by: Baroness Scott of Needham Market (Liberal Democrat - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government whether the replacement for the EU’s Financial Instrument for the Environment will allow Overseas Territories to access funding for large scale environmental projects which smaller instruments cannot address.
Answered by Lord Bates
The funding choices we take after exiting the EU will be based on the UK’s priorities. Decisions will also be affected by the economic environment, the fiscal position and the negotiated outcome. As we start to take our own decisions in these areas, we will of course make sure all parts of the UK, including the Overseas Territories, are treated fairly.
Asked by: Baroness Scott of Needham Market (Liberal Democrat - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government whether a decision has been made on whether the £1 million received by the UK Overseas Territories per year from the EU’s Biodiversity and Ecosystem Services in Territories of Europe Overseas Fund will be replaced after the UK leaves the EU.
Answered by Lord Bates
Decisions on the replacement of EU funding have not yet been taken and will be taken in light of wider UK strategic priorities and other domestic spending decisions. As we start to take our own decisions in these areas, we will of course make sure all parts of the UK, including the Overseas Territories, are treated fairly.
Asked by: Baroness Scott of Needham Market (Liberal Democrat - Life peer)
Question to the HM Treasury:
To ask Her Majesty’s Government what is their estimate of the number of public sector employees currently earning less than the National Living Wage.
Answered by Lord O'Neill of Gatley
At Summer Budget 2015, the Chancellor announced a new National Living Wage which is a compulsory increase in pay for all workers over 25. It will come into effect in April 2016 at £7.20, 50p above the current National Minimum Wage. The Government will ask the Low Pay Commission to recommend the level of the National Living Wage in each subsequent year, asking them to increase the NLW to 60% of median earnings by 2020. It is estimated that by 2020 approximately 200,000 public sector workers will benefit directly as a result of the National Living Wage.
Asked by: Baroness Scott of Needham Market (Liberal Democrat - Life peer)
Question to the HM Treasury:
To ask Her Majesty’s Government whether they expect the cost of increasing public sector salaries to the level of the National Living Wage to be met from within the overall 1 per cent pay increase for such workers announced in the Budget.
Answered by Lord O'Neill of Gatley
At Summer Budget 2015, it was announced that the Government will fund public sector workforces for an average pay award of 1 per cent for 4 years from 2016-17.
The impact of the new National Living Wage will be considered during the Spending Review as part of an overall assessment of spending pressures across the public sector.