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858523

registered interest
date	09/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how much was paid out in Lifetime Allowance charges in each year between 2010-2011 to 2017-2018; and what estimate he has made of the amount to be paid in (a) 2018-19, (b) 2019-2020 and (c) 2010-21.
tabling member constituency	Witney
tabling member printed	Robert Courts
uin	131778
answer	answer is ministerial correction date of answer 19/03/2018 answer text <p>Individuals whose pension savings exceed the Lifetime Allowance (LTA) are generally liable for tax when payments are made from their pension scheme.</p><p>Tax paid on LTA charges for 2010/11 to 2017/18 (year to date)</p><table><tbody><tr><td><p>Tax Year</p></td><td><p>Total tax paid (rounded to the nearest £10m</p></td></tr><tr><td><p>2010/11</p></td><td><p>£10 million</p></td></tr><tr><td><p>2011/12</p></td><td><p>£20 million</p></td></tr><tr><td><p>2012/13</p></td><td><p>£20 million</p></td></tr><tr><td><p>2013/14</p></td><td><p>£40 million</p></td></tr><tr><td><p>2014/15</p></td><td><p>£40 million</p></td></tr><tr><td><p>2015/16</p></td><td><p>£80 million</p></td></tr><tr><td><p>2016/17</p></td><td><p>£110 million</p></td></tr><tr><td><p>2017/18</p></td><td><p>£120 million[1]</p></td></tr></tbody></table><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p>Numbers provided for tax collected may be subject to significant change over time as in some cases pension providers can claim back tax paid. For example, this can occur where an individual has protections above the current Lifetime Allowance, or where not all of the payment would have been subject to the Lifetime Allowance.</p><p> </p><p>HMRC does not have estimates for future payments of LTA charges for 2018-19, 2019-20 or 2020-21. Any tax received from LTA charges forms a part of the overall Income Tax forecast.</p><p> </p><p>[1] Please note the 2017/18 tax year runs until April 2018, and so further tax charges could come through for this year which are not reflected in the above tables. The number provided represents a <em>year-to-date </em>figure.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/03/2018 14:11:18 answering member 4051 label Biography information for John Glen
tabling member	4589 label Biography information for Robert Courts

858623

registered interest
date	09/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Standards
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals on the duty of care within the Financial Guidance and Claims Bill.
tabling member constituency	Leeds North West
tabling member printed	Alex Sobel
uin	131878
answer	answer is ministerial correction date of answer 15/03/2018 answer text <p>The government believes that the Financial Conduct Authority (FCA), as the UK’s independent conduct regulator for the financial services industry, is best placed to lead the discussion on the merits of a duty of a care for financial services providers.</p><p> </p><p>The FCA have committed to issuing a Discussion Paper on a duty of care later this year. The Paper will invite contributions from all interested parties on the case for and against a duty of care, what form such a provision might take, and consequential issues arising from adopting it. This will be an open process designed to gather views.</p><p> </p><p>In this context, the government welcomes the FCA’s continued commitment to this debate, and we do not think an amendment to the Financial Guidance and Claims Bill would be appropriate.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 15/03/2018 15:44:53 answering member 4051 label Biography information for John Glen
tabling member	4658 label Biography information for Alex Sobel

857714

registered interest
date	08/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Travellers
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 encourage the banking sector to improve financial inclusion for Gypsies and Travellers.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	131615
answer	answer is ministerial correction date of answer 16/03/2018 answer text <p>The Government is committed to ensuring that individuals, regardless of their background or income, have access to useful and affordable financial products and services. The Equality Act 2010 protects all individuals, including Gypsies and Travellers, against racial and other forms of discrimination.</p><p> </p><p>The Payment Accounts Regulations 2015 require the nine largest personal current account providers in the UK to offer fee-free basic bank accounts to customers who do not have a bank account or who are ineligible for a bank’s standard current account. The regulations also state that when a customer applies for an account, firms must not discriminate by reason of the customer’s place of residence, and that the conditions applicable to holding a basic bank account must not be discriminatory.</p><p> </p><p>In order to open a basic bank account, firms will need to verify their customers’ identities, which generally includes verifying their addresses. While the way in which firms choose to do this is not stipulated in law or by the regulator, firms are assisted in making such policies through industry produced guidance notes. For the financial institutions, these are the Joint Money Laundering Steering Group (JMLSG) guidance notes.</p><p> </p><p>The JMLSG guidance notes acknowledge that if Travellers are not able to produce standard identification evidence, and if verification of address is necessary, a check with the local authority, which has to register travellers’ sites, may sometimes be helpful.</p><p> </p><p>More widely, the Government has also committed to establish a Financial Inclusion Policy Forum, which will provide leadership and ensure collaboration across government and with the sector in tackling financial exclusion.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 16/03/2018 11:26:18 answering member 4051 label Biography information for John Glen
tabling member	4518 label Biography information for Tulip Siddiq

857832

registered interest
date	08/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services
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 progress made by the banking sector on meeting the needs of vulnerable consumers.
tabling member constituency	Belfast South
tabling member printed	Emma Little Pengelly
uin	131733
answer	answer is ministerial correction date of answer 13/03/2018 answer text <p>The Government believes it is vitally important that the banking sector meets the needs of vulnerable consumers. The nine largest personal current account providers in the UK are legally required to offer fee-free basic bank accounts to customers who do not have a bank account or who are ineligible for a bank’s standard current account. The Treasury’s December 2017 publication shows that in total there are nearly 8 million basic bank accounts open in the UK, and that just over 900,000 new accounts were opened between July 2016 and June 2017.</p><p> </p><p>The Government has also given the Financial Conduct Authority (FCA), the independent conduct regulator for the financial services sector, a statutory objective to protect consumers. The FCA continually assesses whether the banks they regulate are meeting the rules regarding the needs of vulnerable consumers.</p><p> </p><p>UK banks’ treatment of their customers is governed by the FCA in its Principles for Businesses, as well as specific requirements in its Handbook. The FCA's Principles require firms to conduct their business with due skill, care and diligence, and to pay due regard to the interests of its customers and treat them fairly.</p><p> </p><p>Understanding vulnerability is central to how the FCA makes decisions. At the end of last year, the FCA published its ‘Approach to Consumers’ Paper, which details how the FCA measures the effects of its actions on consumers, particularly with respect to access and vulnerability. This was a consultation and the FCA plans to publish its Final Approach to Consumers Paper later this year.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 13/03/2018 13:50:27 answering member 4051 label Biography information for John Glen
tabling member	4611 label Biography information for Emma Little Pengelly

857858

registered interest
date	08/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of extending the total cost cap on payday lending to high-cost credit products.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	131758
answer	answer is ministerial correction date of answer 16/03/2018 answer text <p>The Government is committed to protecting consumers from unfair lending practises. To this end, the government has given the Financial Conduct Authority (FCA) strong powers, including the power to cap the cost of credit, and it will do so if it thinks it is necessary to protect consumers.</p><p> </p><p>The FCA is conducting a review of the high-cost credit market, and will publish a substantive update in May. The government will continue to work closely with the FCA to ensure that all customers are treated fairly.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/03/2018 11:23:25 answering member 4051 label Biography information for John Glen
tabling member	4518 label Biography information for Tulip Siddiq

857859

registered interest
date	08/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to page two of Walking on Thin Ice: the cost of financial insecurity, published by Citizens Advice on 22 February 2018, if he will make an assessment of the implications for his policies of that report's findings on the proportion of adults (a) who had at least one monthly drop in their income and (b) with unpredictable incomes who have gone without food or other essentials.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	131759
answer	answer is ministerial correction date of answer 16/03/2018 answer text <p>The Government is aware that making ends meet is sometimes challenging, which is why we are proactively putting in place measures to help the most vulnerable.</p><p> </p><p>The lowest earners have seen a 7% real-terms increase to their wages since 2015, thanks to policies such as the National Living Wage (NLW). Full time NLW workers will receive another £600 pay rise next month.</p><p> </p><p>The Government-commissioned Money Advice Service’s Financial Capability Strategy specifically focuses on measures to encourage saving. To help this work, we are creating a help to save scheme – giving families on low incomes up to a £600 Government bonus to build a rainy day fund.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/03/2018 11:24:56 answering member 4051 label Biography information for John Glen
tabling member	4518 label Biography information for Tulip Siddiq

855979

registered interest
date	06/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business Bank Italy
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what information his Department holds on the date (a) when the Financial Conduct Authority (FCA) authorised BUSINESS BANK ITALY LTD (Company number 06623736) to conduct business in the UK, (b) on which the FCA sent its non-objection letter to bank directors, (c) of any capital adequacy stress tests, (d) of visits by FCA officials to the bank, (e) of discussions with auditors of the bank, (f) on which the FCA examined that bank's financial statements, (g) on which that bank was enrolled into the Depositor Protection Scheme and (h) on which FCA officials viewed that bank’s website.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	131145
answer	answer is ministerial correction date of answer 12/03/2018 answer text <p>This is a matter for the Financial Conduct Authority (FCA), who are independent from Government.</p><p> </p><p>We have passed the honourable lady’s question on to the FCA, who will reply directly to her by letter. A copy of the letter will be placed in the Library of the House.</p> answering member constituency Salisbury answering member printed John Glen question first answered 12/03/2018 15:31:00 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

856019

registered interest
date	06/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of regulating the use of cryptocurrencies in the UK.
tabling member constituency	Newcastle upon Tyne North
tabling member printed	Catherine McKinnell
uin	131185
answer	answer is ministerial correction date of answer 12/03/2018 answer text <p>As with all policies, the Government keeps its policy towards cryptocurrencies under review. The Government believes any regulation should be proportionate and risk-based.</p> answering member constituency Salisbury answering member printed John Glen question first answered 12/03/2018 15:36:57 answering member 4051 label Biography information for John Glen
tabling member	4125 label Biography information for Catherine McKinnell

856170

registered interest
date	06/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Social Rented Housing: Rents
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will issue guidance to local authorities on working constructively with firms participating in the Rent Recognition Challenge to help social housing tenants expand their credit performance records by enabling such firms to gain access to payment performance data; and if he will make a statement.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	131336
answer	answer is ministerial correction date of answer 12/03/2018 answer text <p>The Government does not currently intend to issue guidance to local authorities on this issue. However, the Government does encourage local authorities to work constructively with firms providing rent recognition services, including those participating in the Rent Recognition Challenge.</p><p> </p><p>It is right that tenants, where they choose to do so, should have the ability to ensure that their history of paying rent is recorded and recognised in their credit files.</p> answering member constituency Salisbury answering member printed John Glen question first answered 12/03/2018 15:34:29 answering member 4051 label Biography information for John Glen
tabling member	1200 label Biography information for Sir Greg Knight

855633

registered interest
date	05/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	European Investment Bank
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how much the UK has contributed to the European Investment Bank since that bank's inception.
tabling member constituency	Monmouth
tabling member printed	David T. C. Davies
uin	130940
answer	answer is ministerial correction date of answer 13/03/2018 answer text <p>Throughout its membership, the UK has made payments totaling c.£1.8bn to the capital of the EIB.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/03/2018 13:49:18 answering member 4051 label Biography information for John Glen
tabling member	1545 label Biography information for David T C Davies