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417545

registered interest
date	08/09/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Interest Rate Hedging Products
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether the Financial Conduct Authority made an estimate of the potential liability of (a) Lloyds and (b) RBS under the interest rate hedging products redress scheme during the development of that scheme.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	9411
answer	answer is ministerial correction date of answer 14/09/2015 answer text <p>Whether the Financial Conduct Authority (FCA) made an estimate of the potential liability of any banks is a matter for the FCA. However, it is reasonable to assume that for any conduct issue that arises, the FCA would seek to understand the potential financial impact.</p><p> </p><p> </p><p> </p><p>Several meetings took place between Treasury Ministers and the FCA in January 2012 (then the Financial Services Authority), although I understand that FCA’s interest rate hedging products redress scheme was not on the agenda for any of these meetings.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 9410 question first answered 14/09/2015 15:20:39 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	3910 label Biography information for Guto Bebb

416311

registered interest
date	04/09/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Small Businesses: Minimum Wage
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the potential effect of increasing the VAT threshold so that small businesses complying with the new national minimum wage can continue to operate below the VAT threshold.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	8887
answer	answer is ministerial correction date of answer 14/09/2015 answer text <p>The Government has chosen to maintain the highest VAT registration threshold in the EU (set at £82,000 from 1 April 2015). The Government may not increase this threshold further, aside from maintaining its value in line with inflation, without the consent of the European Commission and the unanimous agreement of all EU Member States.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 14/09/2015 14:49:26 answering member 1529 label Biography information for Mr David Gauke
tabling member	3910 label Biography information for Guto Bebb

386951

registered interest
date	01/07/2015
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 provision his Department has made in the sales prospectus for RBS shares for the cost of litigation (a) that has commenced and (b) that complainants have given notice of their plans to commence in respect of interest rate swap mis-selling.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	5085
answer	answer is ministerial correction date of answer 07/07/2015 answer text <p>As detailed by the Chancellor in his speech to the Mansion House, the Government has decided to begin a sale of its shares in Royal Bank of Scotland (RBS).</p><p> </p><p> </p><p> </p><p>The Government’s shareholding in RBS is managed at arm’s length from HM Treasury by UK Financial Investments (UKFI). UKFI will be responsible for the design and execution of any future sale.</p><p> </p><p> </p><p> </p><p>Provision for the potential impact of regulatory fines or penalties is regularly published by RBS as part of the bank’s accounts process. This information is available to any prospective investor.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 5084 question first answered 07/07/2015 12:50:44 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	3910 label Biography information for Guto Bebb

386953

registered interest
date	01/07/2015
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 provision his Department has made in the sales prospectus for RBS for consequential losses arising from the FCA interest rate hedging product mis-selling redress scheme.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	5084
answer	answer is ministerial correction date of answer 07/07/2015 answer text <p>As detailed by the Chancellor in his speech to the Mansion House, the Government has decided to begin a sale of its shares in Royal Bank of Scotland (RBS).</p><p> </p><p> </p><p> </p><p>The Government’s shareholding in RBS is managed at arm’s length from HM Treasury by UK Financial Investments (UKFI). UKFI will be responsible for the design and execution of any future sale.</p><p> </p><p> </p><p> </p><p>Provision for the potential impact of regulatory fines or penalties is regularly published by RBS as part of the bank’s accounts process. This information is available to any prospective investor.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 5085 question first answered 07/07/2015 12:50:44 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	3910 label Biography information for Guto Bebb

228774

registered interest
date	20/03/2015
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 representations he has received on the decision of the Financial Conduct Authority to withdraw from the Connaught Income Fund Series 1 settlement negotiations.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	228573
answer	answer is ministerial correction date of answer 26/03/2015 answer text <p>I was very sorry to hear about the difficulties faced by investors in the Connaught Income Fund Series 1 and hope that the Financial Conduct Authority (FCA) are able to finalise their investigation promptly.<br> <br> On 10 March, the FCA provided an update on proceedings which can be found here:</p><p><br> <a href="https://www.fca.org.uk/news/fca-statement-on-connaught" target="_blank">https://www.fca.org.uk/news/fca-statement-on-connaught</a><br> <br> The FCA is operationally independent from Government and carries out its functions within the framework of statutory objectives and duties agreed by Parliament. In view of the FCA’s independence it would not be appropriate for the Treasury to comment further on this ongoing investigation.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 228574 228575 question first answered 26/03/2015 10:40:03 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3910 label Biography information for Guto Bebb

228775

registered interest
date	20/03/2015
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, if he will request the Financial Conduct Authority to ensure that its investigation into the Connaught Income Fund Series 1 will result in adequate compensation for investors in that fund; and if he will request a timescale for the payment of such compensation.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	228574
answer	answer is ministerial correction date of answer 26/03/2015 answer text <p>I was very sorry to hear about the difficulties faced by investors in the Connaught Income Fund Series 1 and hope that the Financial Conduct Authority (FCA) are able to finalise their investigation promptly.<br> <br> On 10 March, the FCA provided an update on proceedings which can be found here:</p><p><br> <a href="https://www.fca.org.uk/news/fca-statement-on-connaught" target="_blank">https://www.fca.org.uk/news/fca-statement-on-connaught</a><br> <br> The FCA is operationally independent from Government and carries out its functions within the framework of statutory objectives and duties agreed by Parliament. In view of the FCA’s independence it would not be appropriate for the Treasury to comment further on this ongoing investigation.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 228573 228575 question first answered 26/03/2015 10:40:03 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3910 label Biography information for Guto Bebb

228776

registered interest
date	20/03/2015
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 recent discussions he has had with the Financial Conduct Authority on the Connaught Income Fund Series 1 settlement negotiations.
tabling member constituency	Aberconwy
tabling member printed	Guto Bebb
uin	228575
answer	answer is ministerial correction date of answer 26/03/2015 answer text <p>I was very sorry to hear about the difficulties faced by investors in the Connaught Income Fund Series 1 and hope that the Financial Conduct Authority (FCA) are able to finalise their investigation promptly.<br> <br> On 10 March, the FCA provided an update on proceedings which can be found here:</p><p><br> <a href="https://www.fca.org.uk/news/fca-statement-on-connaught" target="_blank">https://www.fca.org.uk/news/fca-statement-on-connaught</a><br> <br> The FCA is operationally independent from Government and carries out its functions within the framework of statutory objectives and duties agreed by Parliament. In view of the FCA’s independence it would not be appropriate for the Treasury to comment further on this ongoing investigation.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 228573 228574 question first answered 26/03/2015 10:40:03 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3910 label Biography information for Guto Bebb