Asked by: Lord Hannan of Kingsclere (Conservative - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government what assessment they have made of the impact of the Organisation for Economic Co-operation and Development's proposal for a global minimum corporation tax on the ability of the UK Government to adjust its domestic taxation policy.
Answered by Lord Agnew of Oulton
It is a UK priority to reach a comprehensive two-pillar solution addressing the tax challenges of digitisation.
The details of a final agreement, including on the exact framework for implementation, are still subject to international negotiation.
If a political agreement is reached and both pillars are implemented in the UK, they will be subject to the normal tax policymaking process. That would include legislation in the relevant Finance Bill, with impacts then being formally assessed and set out in a Tax Information and Impact Note upon the introduction of the legislation.
Any significant subsequent changes to that legislation would likewise be made through a future Finance Bill.
Asked by: Lord Hannan of Kingsclere (Conservative - Life peer)
Question to the HM Treasury:
To ask Her Majesty's Government whether parliamentary approval will be required for a future increase in the world minimum rate of corporation tax under Pillar 2 of the framework on Base Erosion and Profit Shifting.
Answered by Lord Agnew of Oulton
It is a UK priority to reach a comprehensive two-pillar solution addressing the tax challenges of digitisation.
The details of a final agreement, including on the exact framework for implementation, are still subject to international negotiation.
If a political agreement is reached and both pillars are implemented in the UK, they will be subject to the normal tax policymaking process. That would include legislation in the relevant Finance Bill, with impacts then being formally assessed and set out in a Tax Information and Impact Note upon the introduction of the legislation.
Any significant subsequent changes to that legislation would likewise be made through a future Finance Bill.
Asked by: Lord Hannan of Kingsclere (Conservative - Life peer)
Question to the Department for Environment, Food and Rural Affairs:
To ask Her Majesty's Government what assessment they have made of the cost of applying the EU’s REACH Regulation (1907/2006); and what assessment they made, if any, of that cost compared to the risk-based regime that predated REACH.
Answered by Lord Goldsmith of Richmond Park
In 2006, Defra produced a Partial Impact Assessment ahead of the implementation of EU REACH [please see attached]. It forecasts the cost to UK industry of implementing EU REACH to be £404m. The costs associated with supporting HSE in its role as the UK competent authority under EU REACH since it came into force are estimated at around £15m. A comparative assessment of these costs and the regime that predated EU REACH, is not available.
In 2018, the European Commission published an evaluation of EU REACH. It found that costs to industry for the first two registration deadlines amounted to €2.3- 2.6 billion. Dossier evaluation costs were estimated at €200 million. Restriction costs were estimated at €170 million per year.
Asked by: Lord Hannan of Kingsclere (Conservative - Life peer)
Question to the Department for Business, Energy and Industrial Strategy:
To ask Her Majesty's Government what assessment they have made of the cost of applying the EU’s Working Time Directive (2003/88/EC).
Answered by Lord Callanan - Parliamentary Under Secretary of State (Department for Energy Security and Net Zero)
In 2014, the Department for Business, Innovation and Skills conducted a review of the impact on the UK labour market of the UK Working Time Regulations. These Working Time Regulations implemented the EU Working Time Directive into UK law. The report is attached, but can also be found here: https://www.gov.uk/government/publications/working-time-regulations-impact-on-uk-labour-market