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93455

registered interest
date	15/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps his Department plans to take to encourage long-term and sustainable growth in the finance sector.
tabling member constituency	St Austell and Newquay
tabling member printed	Stephen Gilbert
uin	210735
answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The Government understands the importance of having a growing but stable finance sector. Since the financial crisis the Government has, domestically and with EU and international partners, implemented an unprecedented range of regulatory reforms to improve the safety and resilience of the financial sector. The Government will continue to promote long-term and sustainable growth domestically and with EU and international partners, including in the finance sector. In addition, the Government will continue efforts through the Financial Services Trade and Investment Board, a strategic body chaired by HM Treasury, to attract inward investment, promote external trade and encourage the growth of the UK’s financial services sector.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 21/10/2014 09:07:59 answering member 4117 label Biography information for Andrea Leadsom
tabling member	4101 label Biography information for Stephen Gilbert

93466

registered interest
date	15/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the total household debt was in the UK on 1 April 2014.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	210628
answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>According to the latest figures published by the Office for National Statistics, the UK’s total household debt was £1,671 billion in the second quarter of 2014.</p><p> </p><p> </p><p>These figures are available here: <a href="http://www.ons.gov.uk/ons/rel/naa1-rd/united-kingdom-economic-accounts/index.html" target="_blank">http://www.ons.gov.uk/ons/rel/naa1-rd/united-kingdom-economic-accounts/index.html</a></p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 21/10/2014 09:19:43 answering member 4117 label Biography information for Andrea Leadsom
tabling member	1409 label Biography information for Mr Gregory Campbell

93467

registered interest
date	15/10/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tourism: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will assess the effect on the economy in Northern Ireland of the Irish government's decision to retain a reduced rate of sales tax for the tourism industry.
tabling member constituency	South Down
tabling member printed	Ms Margaret Ritchie
uin	210670
answer	answer is ministerial correction date of answer 20/10/2014 answer text <p>Latest statistics show that tourism expenditure associated with overnight trips in Northern Ireland has increased by 9 per cent over the last 12 months.</p><p> </p><p> </p><p> </p><p>The Treasury has previously considered the impact of a VAT cut for the UK tourism sector on growth and jobs. The conclusion the Government reached is that a VAT cut would not produce sufficient economic growth to outweigh the revenue shortfall. A VAT cut for this sector would therefore need to be funded either by additional borrowing or by raising other taxes, both of which are likely to have a negative effect on the economy. The Government therefore have no plans to introduce a VAT cut for this sector.</p><p> </p><p> </p><p> </p><p>Under EU law it is not possible to introduce a specific VAT rate for Northern Ireland that differs from that applied in the rest of the UK.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 20/10/2014 15:35:05 answering member 1529 label Biography information for Mr David Gauke
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick