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353870

registered interest
date	12/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what information he holds on the proportion of residential mortgage lending that was on (a) an interest-only and (b) a capital repayment basis in each year since 1997.
tabling member constituency	South Suffolk
tabling member printed	James Cartlidge
uin	2346
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>The Treasury does not hold any information on the proportions of interest-only mortgages and capital repayment mortgages for residential properties or buy-to-let.</p><p> </p><p> </p><p> </p><p>The FCA in conjunction with the Bank of England publish the Mortgage Lenders and Administrators Return (MLAR) statistics quarterly. In their most recent MLAR (Quarter 1 2015) interest-only mortgages accounted for 8.61 per cent of all regulated residential mortgages.</p><p> </p><p> </p><p> </p><p>The latest report (which has data back to 2007) can be found in the following link: <em>www.bankofengland.co.uk/pra/Documents/regulatorydata/mlar/2015/q1longrundetailed.xls </em></p><p> </p><p> </p><p> </p><p>There is no data separating the proportion of interest-only mortgages and capital repayment mortgages within buy-to-let.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 2347 question first answered 18/06/2015 12:07:55 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4519 label Biography information for James Cartlidge

353871

registered interest
date	12/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what information he holds on the proportion of buy-to-let mortgage lending that was on (a) an interest-only and (b) a capital repayment basis in each year since 1997.
tabling member constituency	South Suffolk
tabling member printed	James Cartlidge
uin	2347
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>The Treasury does not hold any information on the proportions of interest-only mortgages and capital repayment mortgages for residential properties or buy-to-let.</p><p> </p><p> </p><p> </p><p>The FCA in conjunction with the Bank of England publish the Mortgage Lenders and Administrators Return (MLAR) statistics quarterly. In their most recent MLAR (Quarter 1 2015) interest-only mortgages accounted for 8.61 per cent of all regulated residential mortgages.</p><p> </p><p> </p><p> </p><p>The latest report (which has data back to 2007) can be found in the following link: <em>www.bankofengland.co.uk/pra/Documents/regulatorydata/mlar/2015/q1longrundetailed.xls </em></p><p> </p><p> </p><p> </p><p>There is no data separating the proportion of interest-only mortgages and capital repayment mortgages within buy-to-let.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 2346 question first answered 18/06/2015 12:07:55 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4519 label Biography information for James Cartlidge

349911

registered interest
date	11/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what advice he has taken from (a) economists independent of Government and (b) Treasury economists on whether public spending cuts will delay or promote economic growth.
tabling member constituency	Birmingham, Hall Green
tabling member printed	Mr Roger Godsiff
uin	2140
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>Treasury ministers consider a range of representations, and advice, as part of the policymaking process.<br><br>For example, Mr Angel Gurria, the Secretary-General of the OECD, said in February 2015 &quot;The United Kingdom is a textbook case of best practice on how good labour and product markets can support growth and job creation. So my main message to you today is &quot;well done and keep going with the plan!&quot;</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 18/06/2015 11:32:59 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	304 label Biography information for Mr Roger Godsiff

349972

registered interest
date	11/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what representations he has received on the sale of the Government's stake in Royal Bank of Scotland.
tabling member constituency	South Down
tabling member printed	Ms Margaret Ritchie
uin	2112
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>In announcing the sale of the Government’s shareholding in Royal Bank of Scotland, the Chancellor is acting on independent advice from the Governor of the Bank of England and a report from Rothschild investment bank. The report by Rothschild, and the corresponding advice from the Governor, are both available online at www.gov.uk.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 18/06/2015 11:27:25 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

349973

registered interest
date	11/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what discussions he has had with (a) Royal Bank of Scotland (RBS), (b) NatWest Bank and (c) Ulster Bank on the sale of the Government's stake in RBS.
tabling member constituency	South Down
tabling member printed	Ms Margaret Ritchie
uin	2113
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>The Chancellor did not discuss the sale of the Government’s shareholding in Royal Bank of Scotland (RBS) Group with RBS, NatWest Bank or Ulster Bank.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 18/06/2015 11:25:15 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

349974

registered interest
date	11/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the sale of the Government's stake in Royal Bank of Scotland on (a) customers of Ulster Bank and (b) other customers.
tabling member constituency	South Down
tabling member printed	Ms Margaret Ritchie
uin	2114
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>Royal Bank of Scotland (RBS) is a commercial company, in which the Government is a currently a shareholder. The Government’s shareholdings are managed on an arm’s length basis by UK Financial Investments (UKFI). However, UKFI’s role is to manage the shareholdings, not to manage the bank. <br><br>Irrespective of shareholder makeup, and in common with all UK banks, RBS is subject to the Financial Conduct Authority’s Banking Conduct Regime, which covers the treatment of customers, including the customers of Ulster Bank. RBS is required to fully comply with this regime going forward.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 18/06/2015 11:24:34 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

349984

registered interest
date	11/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the availability of income drawdown products for savers.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	2224
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>In order to ensure that all savers can access their retirement income more flexibly, the government has legislated in two ways: first, it has allowed pension schemes to override their previous scheme rules so that they are able to offer new flexible options; and second, it has strengthened the right of individuals to transfer savings between defined contribution schemes at any age up to retirement. This means that if a provider does not offer a particular product, such as flexi-access drawdown, their members have the right to move to a scheme which does.</p><p> </p><p> </p><p> </p><p>The Financial Conduct Authority, in line with its remit to protect consumers and ensure markets function in consumers’ interests, has specifically committed to monitoring developments in the retirement income market closely and to take action where consumers are coming to harm or where the market is not operating competitively. This could include if it finds evidence of excessive charges.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 2228 2229 question first answered 18/06/2015 11:02:15 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	163 label Biography information for Sir Stephen Timms

349985

registered interest
date	11/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what reports he has received of frauds designed to take advantage of new pensions flexibilities; and what steps he is taking to protect savers from such frauds.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	2227
answer	answer is ministerial correction date of answer 19/06/2015 answer text <p>Monitoring the market for scams and misselling is the responsibility of the regulators, the Financial Conduct Authority (FCA) and the Pensions Regulator. The FCA, in line with its remit to protect consumers and ensure markets function in consumers’ interests, has specifically committed to monitoring developments in the retirement income market closely and to take action where consumers are coming to harm or where the market is not operating competitively. The Government remains in close contact with the regulators, and other organisations such as industry trade bodies, on these issues. <br><br>The FCA recently launched a new high-profile consumer awareness campaign around investment scams, ScamSmart, and the FCA and the Pensions Regulator, along with a number of other relevant organisations, have undertaken a joint publicity campaign to improve consumer awareness of pension scams. <br><br>It is important that the Government supports this work and Pension Wise was launched to help people understand their options when taking advantage of the pension freedoms, including how to spot and avoid scams.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 19/06/2015 13:26:41 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	163 label Biography information for Sir Stephen Timms

349987

registered interest
date	11/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps he is taking to ensure savers can access retirement savings under the new pensions flexibilities.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	2228
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>In order to ensure that all savers can access their retirement income more flexibly, the government has legislated in two ways: first, it has allowed pension schemes to override their previous scheme rules so that they are able to offer new flexible options; and second, it has strengthened the right of individuals to transfer savings between defined contribution schemes at any age up to retirement. This means that if a provider does not offer a particular product, such as flexi-access drawdown, their members have the right to move to a scheme which does.</p><p> </p><p> </p><p> </p><p>The Financial Conduct Authority, in line with its remit to protect consumers and ensure markets function in consumers’ interests, has specifically committed to monitoring developments in the retirement income market closely and to take action where consumers are coming to harm or where the market is not operating competitively. This could include if it finds evidence of excessive charges.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 2224 2229 question first answered 18/06/2015 11:02:15 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	163 label Biography information for Sir Stephen Timms

349988

registered interest
date	11/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect on the ability of savers to make the most of retirement savings of charges on (a) drawndown products and (b) switching retirement income products.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	2229
answer	answer is ministerial correction date of answer 18/06/2015 answer text <p>In order to ensure that all savers can access their retirement income more flexibly, the government has legislated in two ways: first, it has allowed pension schemes to override their previous scheme rules so that they are able to offer new flexible options; and second, it has strengthened the right of individuals to transfer savings between defined contribution schemes at any age up to retirement. This means that if a provider does not offer a particular product, such as flexi-access drawdown, their members have the right to move to a scheme which does.</p><p> </p><p> </p><p> </p><p>The Financial Conduct Authority, in line with its remit to protect consumers and ensure markets function in consumers’ interests, has specifically committed to monitoring developments in the retirement income market closely and to take action where consumers are coming to harm or where the market is not operating competitively. This could include if it finds evidence of excessive charges.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 2224 2228 question first answered 18/06/2015 11:02:15 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	163 label Biography information for Sir Stephen Timms