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384867

registered interest
date	23/06/2015
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 cost and benefits of (a) converting Royal Bank of Scotland (RBS) into a network of local stakeholder banks, (b) breaking up RBS into a series of challenger banks, (c) converting RBS into a state-owned business bank and (d) other options for the future of RBS considered by his Department; and if he will place a copy of any such assessments in the Library.
tabling member constituency	Birmingham, Northfield
tabling member printed	Richard Burden
uin	3801
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>The Government has been consistent and clear that its objective in respect of RBS ownership is to return the bank to the private sector in full.</p><p> </p><p> </p><p> </p><p>This policy is supported by recent advice from the Governor of the Bank of England that “it is in the public interest for the Government to begin now to return RBS to the private sector”, and that “there could be considerable net costs to taxpayers of further delaying the start of a sale”. The findings of the recently published Rothschild report into the Government’s shareholding in RBS concur with this assessment.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 30/06/2015 14:12:43 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	301 label Biography information for Richard Burden

384868

registered interest
date	23/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Consumers: Billing
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that consumers are given the choice to receive bills, statements and other important information on paper from their financial service providers without charge.
tabling member constituency	North West Leicestershire
tabling member printed	Andrew Bridgen
uin	3793
answer	answer is ministerial correction date of answer 29/06/2015 answer text <p>The Government takes the firm view that consumers must be able to easily access clear and transparent information about their accounts with banks and other financial service companies.</p><p> </p><p> </p><p> </p><p>The Government is continuing to drive forward a wide-reaching and ambitious programme of reforms to open up competition in the banking sector, including enabling innovation in the use of bank data so that customers are able to use online information more effectively. This includes initiatives like the Midata current account tool, which will help customers switch to the best current account for them.</p><p> </p><p> </p><p> </p><p>The Financial Conduct Authority is also currently reviewing cost-cutting initiatives that affect a significant number of customers, including the withdrawal of paper statements.</p><p> </p><p> </p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 29/06/2015 13:52:21 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4133 label Biography information for Andrew Bridgen

384869

registered interest
date	23/06/2015
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, with reference to the oral statement by the Economic Secretary to the Treasury of 11 June 2015, Official Report, column 1373, what the evidence base is for his statement that the Royal Bank of Scotland has not been able to play its full part in small and medium-sized enterprise lending because of public ownership.
tabling member constituency	Leeds East
tabling member printed	Richard Burgon
uin	3794
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>The Chancellor has previously set out his objectives for the banks in state ownership, including Royal Bank of Scotland. We want to maximise the ability of these important banks to support the British economy, and we want to get the best value for money for the taxpayer.</p><p> </p><p> </p><p> </p><p>Large scale public ownership has an inhibiting effect on the involvement of private institutions in a company such as RBS, and therefore naturally impacts on broader commercial performance. The best way to deliver our objectives is to return RBS to private ownership. Commercial organisations are more efficient, more innovative and more effective when they are in the private sector.</p><p> </p><p> </p><p> </p><p>This policy is supported by advice from the Governor of the Bank of England and independent analysis from Rothschild investment bank. In their recent report into this issue, Rothschild note that by starting to sell down its stake in RBS, “the Government can bring about broader benefits for the institution, which could help to accelerate its recovery”, as well as improving the share price and securing value for the taxpayer.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 30/06/2015 14:20:21 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4493 label Biography information for Richard Burgon

384871

registered interest
date	23/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Income Tax: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans he has to reinstate the full personal tax allowance for individuals earning in excess of £100,000 per year.
tabling member constituency	Shipley
tabling member printed	Philip Davies
uin	3724
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>The government inherited a taper system withdrawing the personal allowance for those on incomes above £100,000 from the Labour government.</p><p> </p><p> </p><p> </p><p>The government has also inherited the largest deficit in post-war history due to unsustainable increases in government spending by the Labour government and the effects of the financial crisis. Because of this exceptional challenge we have been unable to remove the personal allowance taper to date. The government’s focus has been on helping low and middle income earners.</p><p> </p><p> </p><p> </p><p>However, the government has committed to raising the higher rate threshold to £50,000 by the end of this parliament. This will lower taxes for middle and high income earners as it will increase the point before individuals start paying 40% income tax. The government wants to reduce the amount of income tax that people pay and rewarding those who want to work hard and progress.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 30/06/2015 15:47:16 answering member 1529 label Biography information for Mr David Gauke
tabling member	1565 label Biography information for Sir Philip Davies

384872

registered interest
date	23/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Welfare Tax Credits: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the cost to the public purse was of (a) working tax credits and (b) child tax credit for claimants in Northern Ireland in each year since 2010.
tabling member constituency	South Down
tabling member printed	Ms Margaret Ritchie
uin	3841
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>HM Revenue and Customs does not publish figures for Working Tax Credits or Child Tax Credits broken down by region.</p> answering member constituency East Hampshire answering member printed Damian Hinds question first answered 30/06/2015 09:53:10 answering member 3969 label Biography information for Damian Hinds
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

384873

registered interest
date	23/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Working Tax Credit: Liverpool
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many recipients of working tax credit there are in (a) Liverpool and (b) Liverpool Riverside constituency.
tabling member constituency	Liverpool, Riverside
tabling member printed	Mrs Louise Ellman
uin	3888
answer	answer is ministerial correction date of answer 02/07/2015 answer text <p>Information detailing the number of recipient families of (a) Working Tax Credits and (b) Child Tax Credits for the local authority of Liverpool and the parliamentary constituency of Liverpool Riverside can be found at the following location: <br> <a href="https://www.gov.uk/government/collections/personal-tax-credits-statistics" target="_blank">gov.uk/government/collections/personal-tax-credits-statistics</a>. <br> <strong><br> </strong></p> answering member constituency East Hampshire answering member printed Damian Hinds grouped question UIN 3889 question first answered 02/07/2015 15:09:04 answering member 3969 label Biography information for Damian Hinds
tabling member	484 label Biography information for Dame Louise Ellman

384874

registered interest
date	23/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Tax Credit: Liverpool
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many recipients of child tax credit there are in (a) Liverpool and (b) Liverpool Riverside constituency.
tabling member constituency	Liverpool, Riverside
tabling member printed	Mrs Louise Ellman
uin	3889
answer	answer is ministerial correction date of answer 02/07/2015 answer text <p>Information detailing the number of recipient families of (a) Working Tax Credits and (b) Child Tax Credits for the local authority of Liverpool and the parliamentary constituency of Liverpool Riverside can be found at the following location: <br> <a href="https://www.gov.uk/government/collections/personal-tax-credits-statistics" target="_blank">gov.uk/government/collections/personal-tax-credits-statistics</a>. <br> <strong><br> </strong></p> answering member constituency East Hampshire answering member printed Damian Hinds grouped question UIN 3888 question first answered 02/07/2015 15:09:04 answering member 3969 label Biography information for Damian Hinds
tabling member	484 label Biography information for Dame Louise Ellman

384875

registered interest
date	23/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks
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) the Royal Bank of Scotland and (b) Ulster Bank on steps to assist with any potential future problems with their critical infrastructure.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	3630
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>The failure of IT infrastructure at Royal Bank of Scotland, or any other bank on which customers rely to manage their money, is completely unacceptable. Responsibility for infrastructure in the UK financial sector is primarily for the firms themselves. However, financial regulators have a role to play in supervising, coordinating and driving change to improve the operational resilience of the sector.</p><p> </p><p> </p><p> </p><p>The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) jointly launched, in October 2014, a review of firms’ critical infrastructure and technology resilience. The review focuses on the most significant UK retail deposit-taking organisations, and is expected to conclude later this summer. The results will not be published, but the FCA and PRA will provide feedback to the firms individually on their findings and agree any follow-up actions.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 30/06/2015 14:21:17 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	4131 label Biography information for Jim Shannon

384876

registered interest
date	23/06/2015
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, whether the forthcoming consultation on a charge cap for savers withdrawing their money from pensions will include a proposal for a charge cap on income drawdown products.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	3643
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>The government announced on 17 June that it will launch a consultation to look at making the process for transferring pensions from one scheme to another quicker and smoother, including, if there is sufficient evidence, options to address excessive early exit penalties. The Financial Conduct Authority will, in parallel, gather information from pension providers to establish an evidence base for action in this area. This is part of a wider programme of action by government and regulators to ensure that consumers can take advantage of the new pensions freedoms, introduced in April.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 30/06/2015 14:24:32 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	163 label Biography information for Sir Stephen Timms

384877

registered interest
date	23/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Working Tax Credit
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 26 March 2015 to Question 228908, if he will make it his policy to collect data on the length of time taken to process working tax credit claims.
tabling member constituency	Birmingham, Selly Oak
tabling member printed	Steve McCabe
uin	3663
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>HMRC do not plan to collect data on the length of time taken to process Working Tax Credit claims.</p><p> </p> answering member constituency East Hampshire answering member printed Damian Hinds question first answered 30/06/2015 13:26:44 answering member 3969 label Biography information for Damian Hinds
tabling member	298 label Biography information for Steve McCabe