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1149415

registered interest
date	15/10/2019
answering body	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 the Chancellor of the Exchequer, what recent representations he has received on the loyalty penalty in the mortgage market; and if he will make a statement.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	435
answer	answer is ministerial correction date of answer 21/10/2019 answer text <p>There are comparatively high levels of customer engagement in the UK mortgage market, with 75% of customers taking out a new product within 6 months of being on the reversion rate.</p><p>Whilst the levels of customer engagement are comparatively high in the mortgage market, the Government is not complacent. That is why HM Treasury (HMT) has worked closely with the Financial Conduct Authority (FCA) on changes to their lending rules, which will remove the regulatory barrier which currently prevents some borrowers from switching to a new deal. These changes will be in place before the end of the year.</p><p>HMT also supports the current FCA research into customers who could switch at the end of the fixed introductory period but who choose to stay on the reversion rate.</p><p>No recent representations have been made to the Chancellor of the Exchequer on the loyalty penalty in the mortgage market.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 436 437 question first answered 21/10/2019 13:51:56 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1149417

registered interest
date	15/10/2019
answering body	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 the Chancellor of the Exchequer, what steps his Department is taking to help tackle the loyalty penalty in the mortgage market.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	436
answer	answer is ministerial correction date of answer 21/10/2019 answer text <p>There are comparatively high levels of customer engagement in the UK mortgage market, with 75% of customers taking out a new product within 6 months of being on the reversion rate.</p><p>Whilst the levels of customer engagement are comparatively high in the mortgage market, the Government is not complacent. That is why HM Treasury (HMT) has worked closely with the Financial Conduct Authority (FCA) on changes to their lending rules, which will remove the regulatory barrier which currently prevents some borrowers from switching to a new deal. These changes will be in place before the end of the year.</p><p>HMT also supports the current FCA research into customers who could switch at the end of the fixed introductory period but who choose to stay on the reversion rate.</p><p>No recent representations have been made to the Chancellor of the Exchequer on the loyalty penalty in the mortgage market.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 435 437 question first answered 21/10/2019 13:51:56 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1149418

registered interest
date	15/10/2019
answering body	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 the Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on the loyalty penalty in the mortgage market.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	437
answer	answer is ministerial correction date of answer 21/10/2019 answer text <p>There are comparatively high levels of customer engagement in the UK mortgage market, with 75% of customers taking out a new product within 6 months of being on the reversion rate.</p><p>Whilst the levels of customer engagement are comparatively high in the mortgage market, the Government is not complacent. That is why HM Treasury (HMT) has worked closely with the Financial Conduct Authority (FCA) on changes to their lending rules, which will remove the regulatory barrier which currently prevents some borrowers from switching to a new deal. These changes will be in place before the end of the year.</p><p>HMT also supports the current FCA research into customers who could switch at the end of the fixed introductory period but who choose to stay on the reversion rate.</p><p>No recent representations have been made to the Chancellor of the Exchequer on the loyalty penalty in the mortgage market.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 435 436 question first answered 21/10/2019 13:51:55 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1145539

registered interest
date	24/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Closures
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate he has made of the proportion of high street bank branches that have closed in the last five years.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	290284
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>The Treasury does not make assessments of the bank branch network. The decision to close a branch is a commercial issue for the management team of the bank. However, Government believes it is important the impact on communities must be understood, considered and mitigated where possible. That is why the Government continues to be very supportive of the Access to Banking Standard and the commitment it places on banks to minimise the impact of branch closures, including by ensuring that customers are aware of the alternative ways they can continue to access banking services. These include the Post Office, which allows 95% of business and 99% of personal banking customers to carry out their everyday banking at 11,500 Post Office branches across the UK.</p><p> </p><p>The Financial Conduct Authority undertook an analysis of branch closures as part of their Strategic Review of Retail Banking Business Models. This analysis can be found in Annex 1 of the final report.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/09/2019 09:33:30 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1145544

registered interest
date	24/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Older People
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that elderly people have access to a bank branch.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	290285
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>Though I can understand the disappointment felt in a community when a bank branch closes, the decision to maintain a presence on the high street is a commercial one for the management team of a bank and Government does not intervene in those decisions.</p><p> </p><p>The retail financial landscape is changing, as more consumers and businesses opt for the convenience, security, and speed of digital payments and digital banking. Banking service providers need to balance customer interests, market competition, and other commercial factors when considering their strategy.</p><p> </p><p>However, the Government also firmly believes that the impact of branch closures should be understood, considered, and mitigated where possible so that all customers, wherever they live, continue to have access to over-the-counter banking services if they wish to use them. That’s why the Government supports the industry’s Access to Banking Standard which helps customers to understand the options they have locally to continue to access banking services, including specialist assistance for customers who need more help, which may include the elderly. Alternative options include the Post Office, which allows 95% of business and 99% of personal banking customers to carry out their everyday banking at 11,500 Post Office branches across the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/09/2019 09:36:07 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1129117

registered interest
date	03/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to invest in technological improvements to the UK's ATM network.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	258979
answer	answer is ministerial correction date of answer 06/06/2019 answer text <p>The Government recognises that widespread access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK.</p><p> </p><p>As set out in the Government’s Summary of Responses to the Call for Evidence on Cash and Digital Payments in The New Economy, industry continues to develop a range of ways to safeguard access to cash, from investment in ATMs and cashback from retailers, to shared business banking hubs. The Government supports further industry collaboration to promote innovative ways of managing, accessing and depositing cash. The management and deployment of ATMs is a commercial matter for ATM market participants.</p><p> </p><p>In addition, the Government has invested heavily in maintaining a stable network of Post Office branches, with investment of around £2 billion since 2010. Anyone can use their LINK enabled bank card to take out money for free at the counter of every one of the 11,500 Post Offices in the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 06/06/2019 13:16:57 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1128475

registered interest
date	23/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate his Department has made of the number of free-to-use ATMs that have been converted to pay-to-use machines in each of the last five years.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	257640
answer	answer is ministerial correction date of answer 05/06/2019 answer text <p>The Government believes that widespread access to cash remains extremely important to the day-to-day lives of many consumers and businesses. That is why the Government continues to engage with the regulators and industry in this area.</p><p> </p><p>In 2015, the Government established the Payment Systems Regulator (PSR), with a statutory objective to ensure that the UK’s payment systems work in the interests of their users. As a result, the PSR is closely monitoring developments within ATM provision, and has used its powers to ensure LINK meets its commitment on maintaining the broad geographical spread of free-to-use ATMs.</p><p> </p><p>The Treasury has not made an estimate of the number of free-to-use ATMS that have been converted to pay-to-use in each of the last five years. Detailed statistical data on the number of free-to-use and pay-to-use ATMs since 1998 is publicly available on the LINK website.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 257641 question first answered 05/06/2019 13:07:40 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1128477

registered interest
date	23/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that everyone has access to free-to-use ATMs.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	257641
answer	answer is ministerial correction date of answer 05/06/2019 answer text <p>The Government believes that widespread access to cash remains extremely important to the day-to-day lives of many consumers and businesses. That is why the Government continues to engage with the regulators and industry in this area.</p><p> </p><p>In 2015, the Government established the Payment Systems Regulator (PSR), with a statutory objective to ensure that the UK’s payment systems work in the interests of their users. As a result, the PSR is closely monitoring developments within ATM provision, and has used its powers to ensure LINK meets its commitment on maintaining the broad geographical spread of free-to-use ATMs.</p><p> </p><p>The Treasury has not made an estimate of the number of free-to-use ATMS that have been converted to pay-to-use in each of the last five years. Detailed statistical data on the number of free-to-use and pay-to-use ATMs since 1998 is publicly available on the LINK website.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 257640 question first answered 05/06/2019 13:07:40 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1125317

registered interest
date	08/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money: Retail Trade
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect of cashless shops on (a) low-income people and (b) poorer communities.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	251912
answer	answer is ministerial correction date of answer 13/05/2019 answer text <p>The Treasury has not made a specific assessment of the effect of cashless shops on (a) low-income people and (b) poorer communities.</p><p> </p><p>However, last year the Government initiated a discussion on payment methods through a Call for Evidence on Cash and Digital Payments in the New Economy. This sought to gather evidence on how changing preferences for cash and digital payments impact on different sectors, regions and demographics. A wide range of evidence was collected, including on the changing levels of cash usage, and a formal summary of responses was published in May 2019.</p><p> </p><p>The response set out the Government’s commitment to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/05/2019 14:29:09 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1109076

registered interest
date	02/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pay
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent assessment his Department has made of trends in the levels of pay since 2010.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	239859
answer	answer is ministerial correction date of answer 08/04/2019 answer text <p>The level of pay has continually increased since 2010, with average weekly earnings increasing by 20% over this period. Regular wages are currently growing at their fastest pace in over a decade and have outstripped inflation for 11 consecutive months. We’ve just seen another above inflation increase in the National Living Wage, to £8.21, meaning a full-time worker on the NLW will be earning £690 more over the coming year.</p> answering member constituency Salisbury answering member printed John Glen question first answered 08/04/2019 14:33:01 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham