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224414

registered interest
date	02/03/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Technology
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps his Department has taken to boost the growth of the financial technology industry.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	225806
answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>As part of our long term economic plan, the Government is committed to supporting the continued growth of the Financial Technology (FinTech) sector. The Government has taken a number of steps to achieve this, including:</p><p> </p><p> </p><p> </p><ul><li><p>Creating a new Payments Systems Regulator (PSR), which will ensure that smaller banks and alternative providers of finance – including FinTechs – can access payment systems in a fair and transparent way, and thereby contributing to a fairer and more competitive payments industry. The PSR will open its doors on 1 April this year.</p><p> </p></li><li><p>Committing to additional funding of £100m to the British Business Bank’s Investment Programme – including funding for FinTech.</p><p> </p></li><li><p>Launching the GO-Science’s Blackett Review on FinTech Futures, which looks ahead 10 years to the future and identify what the technologies, enablers and barriers are that will shape the future of the UK FinTech sector.</p><p> </p></li></ul><p> </p><ul><li><p>Naming the big banks that will have to share credit data, and refer on SMEs they reject for finance – helping alternative finance providers, including FinTech firms, to lend more effectively;</p></li></ul><p> </p><p> </p><p> </p><ul><li><p>Supporting the development of the peer-to-peer lending and crowdfunding market: consulting on ISA eligibility for crowdfunded debt securities; announcing we will review EU regulations standing in the way of P2P institutional lending; and creating a bespoke regulatory framework for P2P.</p><p> </p></li></ul><p> </p><p>Most recently at budget 2015, we announced a further package of measures to build on the government’s wide-reaching programme of reform to drive competition in banking and FinTech, including announcing that:</p><p> </p><ul><li><p>The Government intends to apply anti-money laundering regulation to digital currency exchanges in the UK, launch a new research initiative into digital currency technology, with £10 million additional funding, and work with the British Standards Institution and the digital currency industry to develop voluntary standards for consumer protection.</p><p> </p></li><li><p>Gocompare will launch the first personal current account comparison tool making use of customers’ bank midata releases on 26 March 2015.</p><p> </p></li><li><p>The Government will work with the banks and FinTech firms to develop an open API (Application Programming Interface) standard for banks, by the end of the year.</p></li></ul><p> </p><p> </p><p> </p><ul><li><p>the Financial Conduct Authority’s (FCA) ‘Project Innovate’ will work with HMT and the Prudential Regulation Authority (PRA) to investigate the feasibility of developing a regulatory ‘sandbox’ for financial services innovators</p><p> </p></li><li><p>Innovate Finance has agreed to deliver its FinTech regional strategy through a series of local partnerships; the first partnership has already been established in Leeds, and further partnerships will be established in Manchester and Edinburgh by April, and in Newcastle, Bristol and other centres before the end of the year.</p></li></ul><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 25/03/2015 11:07:37 answering member 4117 label Biography information for Andrea Leadsom
tabling member	1586 label Biography information for Adam Afriyie

224417

registered interest
date	02/03/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tonnage Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the change in tax liabilities for shipping companies in the tonnage tax scheme was in each (a) calendar and (b) financial year since the scheme was introduced; and what estimate he has made of the change in those liabilities in (i) 2014, (ii) 2013-14, (iii) 2015 and (iv) 2014-15.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	225876
answer	answer is ministerial correction date of answer 09/03/2015 answer text <p>The tables below provides estimates of the difference between accruals of tax liabilities for the UK Shipping Industry through tonnage tax and what they would otherwise have been under standard UK Corporation Tax since 2000 for (a) calendar year and (b) financial year.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><table><tbody><tr><td><p><strong>Calendar Year</strong></p></td><td><p><strong>Reduction In Tax Liabilities<sup>1, 4</sup></strong></p></td></tr><tr><td><p>2000<sup>3</sup></p></td><td><p>£60m</p></td></tr><tr><td><p>2001<sup>3</sup></p></td><td><p>£65m</p></td></tr><tr><td><p>2002<sup>3</sup></p></td><td><p>£65m</p></td></tr><tr><td><p>2003<sup>3</sup></p></td><td><p>£80m</p></td></tr><tr><td><p>2004<sup>3</sup></p></td><td><p>£90m</p></td></tr><tr><td><p>2005</p></td><td><p>£95m</p></td></tr><tr><td><p>2006</p></td><td><p>£90m</p></td></tr><tr><td><p>2007</p></td><td><p>£135m</p></td></tr><tr><td><p>2008</p></td><td><p>£270m</p></td></tr><tr><td><p>2009</p></td><td><p>£95m</p></td></tr><tr><td><p>2010</p></td><td><p>£95m</p></td></tr><tr><td><p>2011</p></td><td><p>£120m</p></td></tr><tr><td><p>2012<sup>2</sup></p></td><td><p>£100m</p></td></tr><tr><td><p>2013<sup>5</sup></p></td><td><p>£100m</p></td></tr><tr><td><p>2014<sup>5</sup></p></td><td><p>£95m</p></td></tr><tr><td><p>2015<sup>5</sup></p></td><td><p>£95m</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p> </p><p> </p><table><tbody><tr><td><p><strong>Financial Year</strong></p></td><td><p><strong>Reduction In Tax Liabilities<sup>1, 4</sup></strong></p></td></tr><tr><td><p>2000/01<sup>3</sup></p></td><td><p>£60m</p></td></tr><tr><td><p>2001/02<sup>3</sup></p></td><td><p>£65m</p></td></tr><tr><td><p>2002/03<sup>3</sup></p></td><td><p>£70m</p></td></tr><tr><td><p>2003/04<sup>3</sup></p></td><td><p>£80m</p></td></tr><tr><td><p>2004/05<sup>3</sup></p></td><td><p>£90m</p></td></tr><tr><td><p>2005/06</p></td><td><p>£90m</p></td></tr><tr><td><p>2006/07</p></td><td><p>£100m</p></td></tr><tr><td><p>2007/08</p></td><td><p>£170m</p></td></tr><tr><td><p>2008/09</p></td><td><p>£225m</p></td></tr><tr><td><p>2009/10</p></td><td><p>£95m</p></td></tr><tr><td><p>2010/11</p></td><td><p>£100m</p></td></tr><tr><td><p>2011/12<sup>2</sup></p></td><td><p>£115m</p></td></tr><tr><td><p>2012/13<sup>5</sup></p></td><td><p>£100m</p></td></tr><tr><td><p>2013/14<sup>5</sup></p></td><td><p>£100m</p></td></tr><tr><td><p>2014/15<sup>5</sup></p></td><td><p>£95m</p></td></tr></tbody></table><p> </p><p><strong> </strong></p><p> </p><p>Notes to tables:</p><p> </p><ol><li><p>Estimates have been rounded to the nearest £5m,</p></li><li><p>The latest tax returns data available are for 2012,</p></li><li><p>Estimates for 2000-2004 should be treated as indicative only, due to insufficient data being available before 2005,</p></li><li><p>Estimates are based on the assumption that without the introduction of tonnage tax in 2000, the level of affected UK shipping activities would have remained equal to that of 1999,</p></li><li><p>For years after 2012, estimates are projections.</p></li></ol><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 09/03/2015 17:46:59 answering member 1529 label Biography information for Mr David Gauke
tabling member	178 label Biography information for John McDonnell

224123

registered interest
date	27/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inheritance Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 11 February 2015 to Questions 223142 and 223143, when he expects to publish the breakdown of the estimated numbers of deaths resulting in inheritance tax liabilities by Westminster parliamentary constituencies for years later than 2011-12.
tabling member constituency	Sheffield, Brightside and Hillsborough
tabling member printed	Mr David Blunkett
uin	225708
answer	answer is ministerial correction date of answer 04/03/2015 answer text <p>Updates to Table 12-12 of the Inheritance Tax Official Statistics covering estimated numbers of deaths resulting in Inheritance Tax liabilities for Westminster parliamentary constituencies are published annually at the end of July each year. The July 2015 update will include the estimated number of deaths resulting in Inheritance Tax liabilities in 2012-13.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 04/03/2015 17:13:54 answering member 1529 label Biography information for Mr David Gauke
tabling member	395 label Biography information for Lord Blunkett

224124

registered interest
date	27/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Natural Resources
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will incorporate a section on natural capital in his annual budget report.
tabling member constituency	Stoke-on-Trent North
tabling member printed	Joan Walley
uin	225714
answer	answer is ministerial correction date of answer 11/03/2015 answer text <p>Economic growth and improving the environment go hand-in-hand, and the Natural Capital Committee has made a range of recommendations on how we manage the environment in a way that will enhance it for future generations whilst meeting our economic needs.</p><p> </p><p> </p><p> </p><p>Given the significance of this work, the Government is carefully analysing the recommendations made in the Natural Capital Committee’s report, and will respond in due course. As part of that response, we will set out how Government plans to integrate natural capital into wider policy making and reporting.</p><p> </p><p> </p><p> </p><p>The Government takes natural capital very seriously. We have set long term-goals to stop the decades of decline in wildlife and habitats, and have already seen some improvements. Since 2010 we have helped to create over 150,000 acres of field margins, wetlands and woodlands, and woodland cover is at its highest level in 700 years.</p><p> </p> answering member constituency Witham answering member printed Priti Patel question first answered 11/03/2015 14:36:23 answering member 4066 label Biography information for Priti Patel
tabling member	286 label Biography information for Joan Walley

224125

registered interest
date	27/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Natural Resources
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps he has taken to integrate natural capital into the national infrastructure plan.
tabling member constituency	Stoke-on-Trent North
tabling member printed	Joan Walley
uin	225715
answer	answer is ministerial correction date of answer 12/03/2015 answer text <p>The Government takes natural capital very seriously. It has set long-term goals to stop decades of decline in wildlife and habitats, which have already resulted in improvements. Since 2010, it has helped to create over 150,000 acres of field margins, wetlands and woodlands; woodland cover is at its highest level in 700 years.</p><p> </p><p> </p><p> </p><p>The Government’s environmental objectives are reflected in the National Infrastructure Plan. Its Top 40 Priority Infrastructure Investments include rail electrification, renewable energy and Smart Meters. These projects support a transition to a less resource intensive economy.</p><p> </p><p> </p><p> </p> answering member constituency Witham answering member printed Priti Patel question first answered 12/03/2015 14:59:42 answering member 4066 label Biography information for Priti Patel
tabling member	286 label Biography information for Joan Walley

224127

registered interest
date	27/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Markets
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will make representations to the Bank of England and the Financial Conduct Authority to encourage them to take sustainability issues into account in the regulatory frameworks governing financial markets.
tabling member constituency	Stoke-on-Trent North
tabling member printed	Joan Walley
uin	225717
answer	answer is ministerial correction date of answer 09/03/2015 answer text <p>The Bank of England, its subsidiary the Prudential Regulation Authority (PRA), and the Financial Conduct Authority (FCA) operate independently within the statutory remit agreed by Parliament.</p><p> </p><p> </p><p> </p><p>The statutory principles of good regulation to which the PRA and FCA must have regard, provided for at section 3B of the Financial Services and Markets Act 2000 include “the desirability of sustainable growth in the economy of the United Kingdom in the medium or long term”.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 09/03/2015 17:04:58 answering member 4117 label Biography information for Andrea Leadsom
tabling member	286 label Biography information for Joan Walley

224128

registered interest
date	27/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Natural Resources
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will introduce further incentives to encourage resource efficiency.
tabling member constituency	Stoke-on-Trent North
tabling member printed	Joan Walley
uin	225718
answer	answer is ministerial correction date of answer 23/03/2015 answer text <p>This Government is committed to encouraging resource efficiency. The resource and waste management sector has grown faster than the wider economy over the past two decades, while waste arisings have fallen. We are extracting significantly more economic value from each tonne of waste managed by the sector, a 43% increase from £32 to £46 per tonne since 2004. As such, there are already a number of incentives in place to promote resource efficiency, for example:</p><p> </p><p> </p><p> </p><ul><li><p>Landfill Tax has reduced the amount of waste going to landfill by approximately 65% since its introduction in 1996, and has contributed to a threefold increase in household recycling;</p><p> </p></li><li><p>Enhanced Capital Allowances enable the cost of investment in water and energy-efficient equipment to be written off against taxable profits of the period in which the investment is made;</p><p> </p></li><li><p>Government–funded Innovate UK is to invest up to £800k in feasibility studies into the business case for retaining value in durable goods through reuse, remanufacture or leasing/maintenance. This competition opened on 2 March 2015;</p><p> </p></li><li><p>Government is funding Action Based Research projects to explore innovative ways for businesses to develop more resource-efficient systems and products. £1.2m of support is being provided over the lifetime of the current round of projects; and</p><p> </p></li><li><p>Government are providing £17.9m funding in 2014-15 for the Waste and Resources Action Programme (WRAP) to support English businesses, industry, civil society organisations, as well as local authorities and households in realising the benefits of resource efficiency and improved resource management.</p></li></ul><p> </p> answering member constituency Witham answering member printed Priti Patel question first answered 23/03/2015 15:48:34 answering member 4066 label Biography information for Priti Patel
tabling member	286 label Biography information for Joan Walley

224129

registered interest
date	27/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Theatre: Greater Manchester
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 11 February 2015 to Question 222979, what recent discussions he has had with the management of The Factory on delivery plans; and what representations he has received on those plans.
tabling member constituency	Rhondda
tabling member printed	Chris Bryant
uin	225732
answer	answer is ministerial correction date of answer 11/03/2015 answer text <p>Discussions for the delivery new theatre and exhibition in Manchester are ongoing between HMT, DCMS and Manchester City Council officials.</p><p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 11/03/2015 15:29:23 answering member 1535 label Biography information for Danny Alexander
tabling member	1446 label Biography information for Sir Chris Bryant

224174

registered interest
date	27/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Welfare State: Reform
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will publish an analysis of the effect of welfare reforms since 2010 (a) on welfare recipients, (b) on people with disabilities, (c) by geographical area and (d) on single parents, families, and people of working age compared to pensioners.
tabling member constituency	Sheffield, Brightside and Hillsborough
tabling member printed	Mr David Blunkett
uin	225761
answer	answer is ministerial correction date of answer 10/03/2015 answer text <p>The Government publishes distributional analysis at each fiscal event which shows how households across the income distribution are affected by this Government’s tax, welfare, and public service spending changes.</p><p> </p><p> </p><p> </p><p>The most recent assessment was at Autumn Statement 2014, which showed that the richest 20% of households continue to make the greatest contribution to reducing the deficit, both in cash terms and as a percentage of their income.</p><p> </p><p> </p><p> </p><p>This analysis is not available in breakdowns by categories other than the equivalised income and expenditure distributions.</p><p> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 10/03/2015 16:42:44 answering member 1529 label Biography information for Mr David Gauke
tabling member	395 label Biography information for Lord Blunkett

224185

registered interest
date	27/02/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether he plans to bring forward legislative proposals for tax relief for orchestras and high-end TV tax relief before April 2015.
tabling member constituency	Rhondda
tabling member printed	Chris Bryant
uin	225788
answer	answer is ministerial correction date of answer 05/03/2015 answer text <p>The government introduced legislation for high-end TV tax relief in the Finance Act 2013. As announced at Autumn Statement 2014, the government is exploring with industry whether to reduce the minimum UK expenditure requirement from 25% to 10% and modernise the cultural test.</p><p> </p><p> </p><p> </p><p>As announced at Autumn Statement 2014, tax relief for orchestras will be available from April 2016. The government wants to provide orchestras with the time to make any necessary arrangements so they are in a position to claim the relief once it becomes available.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 05/03/2015 16:56:03 answering member 1529 label Biography information for Mr David Gauke
tabling member	1446 label Biography information for Sir Chris Bryant