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1639823

registered interest
date	23/05/2023
answering body	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 the Chancellor of the Exchequer, on what date his Department plans to introduce the new method of calculating cash equivalent transfer value for pension benefits.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	186516
answer	answer is ministerial correction date of answer 05/06/2023 answer text <p>The government published the outcome of the public service pensions consultation on the methodology used to set the Superannuation Contributions Adjusted for Past Experience discount rate (SCAPE) on 30 March 2023. As a result, the previous guidance on setting the discount rates for calculating cash equivalent transfer values (CETV) payable by public service pensions schemes was suspended.</p><p> </p><p>Subsequently, on 27 April 2023 HM Treasury published new guidance for setting discount rates for calculating transfer values. It is now necessary for the Government Actuary’s Department (GAD) to calculate new actuarial factors to be used in the calculation of transfer values. GAD expects to provide these factors to administrators of public service pension schemes, by early summer. Schemes will then be able to carry out the calculations for transfer values.</p><p><strong> </strong></p><p>https://www.gov.uk/government/publications/basis-for-setting-the-discount-rates-for-calculating-cash-equivalent-transfer-values-payable-by-public-service-pension-schemes/basis-for-setting-the-discount-rates-for-calculating-cash-equivalent-transfer-values-payable-by-public-service-pension-schemes</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 05/06/2023 11:03:39 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1585759

registered interest
date	09/02/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	David Buttress
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many meetings he has had with the cost of living business tsar, David Buttress, since his appointment; what was discussed at those meetings; and if he will publish the minutes of those meetings.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	143823
answer	answer is ministerial correction date of answer 21/02/2023 answer text <p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p> </p><p>In accordance with our principles of transparency and accountability, details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">HMT ministers' meetings, hospitality, gifts and overseas travel - GOV.UK</a>. It is not standard practice for minutes of ministerial meetings to be disclosed.</p> answering member constituency Salisbury answering member printed John Glen question first answered 21/02/2023 08:27:27 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1471132

registered interest
date	16/06/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Petrol: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has completed an impact assessment on the fall in the value of sterling against the US dollar on the price of petrol since June 2012.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	19655
answer	answer is ministerial correction date of answer 22/06/2022 answer text <p>HM Treasury has not conducted an impact assessment on the impact of changes in the value of sterling on petrol prices.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 19656 19657 question first answered 22/06/2022 13:58:21 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1471133

registered interest
date	16/06/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Petrol: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has completed an impact assessment on the fall in the value of sterling against the US dollar on the price of petrol since June 2016.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	19656
answer	answer is ministerial correction date of answer 22/06/2022 answer text <p>HM Treasury has not conducted an impact assessment on the impact of changes in the value of sterling on petrol prices.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 19655 19657 question first answered 22/06/2022 13:58:21 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1471134

registered interest
date	16/06/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Petrol: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has completed an impact assessment on the fall in the value of sterling against the US dollar on the price of petrol since 16 June 2021.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	19657
answer	answer is ministerial correction date of answer 22/06/2022 answer text <p>HM Treasury has not conducted an impact assessment on the impact of changes in the value of sterling on petrol prices.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 19655 19656 question first answered 22/06/2022 13:58:21 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1420512

registered interest
date	07/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Chocolate and Sparkling Wines: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has done an assessment on the impact the 5.4 per cent rise in inflation crisis on the price of (a) chocolates, (b), flowers, (c) champagne and (d) sparkling wines.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	119729
answer	answer is ministerial correction date of answer 10/02/2022 answer text <p>The Treasury has made no such assessment. The independent Office for National Statistics (ONS) publishes data on prices for items in the inflation basket each month. The latest data can be found here:</p><p>https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/consumerpriceinflation/previousReleases</p><p> </p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 10/02/2022 14:13:10 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1345310

registered interest
date	08/07/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Fraud
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if his Department will encourage banks to strengthen protections for their customers against fraudsters.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	29873
answer	answer is ministerial correction date of answer 13/07/2021 answer text <p>The Government is working with industry to close down the vulnerabilities that fraudsters exploit and ensure members of the public have the information they need to spot a scam and stand up to fraudsters. This is a shared endeavour between Government, law enforcement and the private sector.</p><p> </p><p>The Financial Conduct Authority (FCA) also requires banks to maintain effective systems and controls to prevent the risk that they might be used to further financial crime. This includes controls to prevent fraud.</p><p> </p><p>With regard to Authorised Push Payment (APP) scams, the Government recognises the work industry has undertaken to date, including the introduction of a voluntary reimbursement Code, which has demonstrably had a beneficial impact. However, the Code, whilst improving matters, comes with limitations, including disparity in how different payment service providers are interpreting their obligations under it, as well is its lack of comprehensive cover across providers.</p><p> </p><p>The Government therefore welcomed the publication of the Payment Systems Regulator’s (PSR) call for views on APP scams in February 2021, which set out various potential measures for reducing APP scams and improving customer outcomes, including new requirements on payment service providers to reimburse APP scam victims and publishing APP scam data.</p><p> </p><p>The PSR’s call for views has now closed and the Government is engaging with the PSR and industry on next steps, including considering what further actions may be necessary to make progress on this issue.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 13/07/2021 13:31:53 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1314808

registered interest
date	14/05/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Government Assistance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will provide immediate financial relief to all 250,000 families in closed mortgage books.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	1354
answer	answer is ministerial correction date of answer 19/05/2021 answer text <p>The Government has undertaken significant work to understand the circumstances of borrowers whose mortgages are held by inactive firms, and it has worked with the FCA to create additional options for these borrowers, including through the introduction of a Modified Affordability Assessment which allows mortgage lenders to waive the normal affordability checks for borrowers with inactive firms who meet certain criteria, such as not wishing to borrow more. It is also worth reiterating that not all of the 250,000 borrowers whose mortgages are held by inactive firms are mortgage prisoners, as the FCA estimate that around half of these borrowers already meet the normal risk appetite of lenders and so could switch to an active lender.</p><p> </p><p>During the recent passage of the Financial Services Act, I announced that the Treasury will work with the FCA on a review of their existing data to provide further detail on the characteristics of borrowers who have mortgages with inactive firms and are unable to switch, despite being up to date with payments. The FCA will also review the effect of its recent interventions to remove regulatory barriers to switching for mortgage prisoners and will report on this by the end of November. The Treasury will use the results of this review to establish whether there are any further possible solutions that can be found for these borrowers that are practical and proportionate.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/05/2021 07:43:03 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1282694

registered interest
date	01/02/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the mortgage payment holiday scheme for business owners in financial difficulties as a result of the covid-19 outbreak.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	146983
answer	answer is ministerial correction date of answer 04/02/2021 answer text <p>We have extended the period that borrowers can apply for a mortgage holiday to support all homeowners in financial distress. Mortgage borrowers who have not yet taken a payment holiday are able to take a payment holiday for up to six months. Borrowers who have taken an initial payment holiday can top this up to six months. The Financial Conduct Authority’s (FCA’s) guidance released on 17 November sets out that mortgage holidays (up to a maximum of 6 months) will remain an option for borrowers until 31 March 2021. However, the FCA guidance also notes that all payment holidays will need to end by 31 July 2021.</p><p> </p><p>For borrowers that have already taken a full six months payment holiday, the FCA’s guidance sets out that firms should continue to provide support through tailored forbearance options for those borrowers that are facing ongoing financial difficulties. This could include granting new mortgage payment holidays.</p><p> </p><p>For businesses and business owners needing further support the business lending schemes are still open for applications, these loans can be used for any business purposes.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/02/2021 11:57:17 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1244872

registered interest
date	20/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Employee Ownership and Save as You Earn
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many people participated in (a) Save As You Earn (SAYE) schemes, (b) Share Investment Plans (SIPs) and (c) SAYE schemes and SIPs in the last three years for which data are available.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	106442
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Save As You Earn (SAYE) scheme and Share Incentive Plans (SIPs) are tax-advantaged employee share schemes offered by the Government.</p><p> </p><p>HMRC publishes annual statistics on participation in Employee Share Schemes which are available here: <a href="https://www.gov.uk/government/collections/employee-share-schemes-statistics#national-statistics" target="_blank">https://www.gov.uk/government/collections/employee-share-schemes-statistics#national-statistics</a></p><p> </p><p>Data from these statistics on participation in SAYE schemes and SIPs for the last three years for which data is available can be found in the tables below. HMRC collects data at the points at which employees enter or leave Employee Share Schemes which is reflected in the tables below. However, HMRC does not hold data on the number of people who hold options or shares within an Employee Share Scheme each year.</p><p> </p><p>For SAYE, data is provided on the number of employees who are granted and exercised options for each of the three years.</p><p> </p><p>For SIPs, data is provided on the number of employees who are awarded or purchase the four different types of shares available. Some employees may receive more than one type of share in a given year.</p><p> </p><p> </p><p>Table 1 - SAYE</p><p> </p><table><tbody><tr><td><p>SAYE</p></td><td><p>Employees granted share options</p></td><td><p>Employees exercising share options</p></td></tr><tr><td><p>16-17</p></td><td><p>400,000</p></td><td><p>140,000</p></td></tr><tr><td><p>17-18</p></td><td><p>340,000</p></td><td><p>120,000</p></td></tr><tr><td><p>18-19</p></td><td><p>310,000</p></td><td><p>110,000</p></td></tr></tbody></table><p> </p><p>Table 2 - SIP</p><p> </p><table><tbody><tr><td><p>SIP – employees awarded / purchased</p></td><td><p>Free shares</p></td><td><p>Partnership shares</p></td><td><p>Matching shares</p></td><td><p>Dividend shares</p></td></tr><tr><td><p>16-17</p></td><td><p>140,000</p></td><td><p>4,160,000</p></td><td><p>2,990,000</p></td><td><p>760,000</p></td></tr><tr><td><p>17-18</p></td><td><p>140,000</p></td><td><p>2,890,000</p></td><td><p>2,010,000</p></td><td><p>530,000</p></td></tr><tr><td><p>18-19</p></td><td><p>110,000</p></td><td><p>2,840,000</p></td><td><p>2,050,000</p></td><td><p>500,000</p></td></tr></tbody></table> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:07:36 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney