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1141731

registered interest
date	24/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Help to Buy Scheme: Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many people have benefited from the Help to Buy ISA in (a) north east Scotland and (b) West Aberdeenshire and Kincardine; and what the cost to the public purse was of that policy in those areas since the introduction of that scheme.
tabling member constituency	West Aberdeenshire and Kincardine
tabling member printed	Andrew Bowie
uin	281795
answer	answer is ministerial correction date of answer 05/09/2019 answer text We do not hold Help to Buy: ISA data specifically for the North East of Scotland or West Aberdeenshire and Kincardine. However, since the introduction of the scheme, the number of First Time Buyers that have benefitted from the Help to Buy: ISA in Scotland is 20,921, with 629 being in Aberdeenshire. The value of the bonuses paid to help people onto the housing ladder in Scotland is £23,230,645 and of this, £738,986 worth of bonuses were paid in Aberdeenshire.<p> </p>This information is available in the Help to Buy: ISA accompanying tables as of March 2019 available here: <a href="https://www.gov.uk/government/statistics/help-to-buy-isa-scheme-quarterly-statistics-december-2015-to-march-2019" target="_blank">https://www.gov.uk/government/statistics/help-to-buy-isa-scheme-quarterly-statistics-december-2015-to-march-2019</a> answering member constituency Salisbury answering member printed John Glen question first answered 05/09/2019 10:03:31 answering member 4051 label Biography information for John Glen
tabling member	4601 label Biography information for Andrew Bowie

1141759

registered interest
date	24/07/2019
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 he is taking to ensure people are able to access cash.
tabling member constituency	South Holland and The Deepings
tabling member printed	Sir John Hayes
uin	281594
answer	answer is ministerial correction date of answer 03/09/2019 answer text <p>The Government recognises that widespread free access to, and acceptance of, cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK.</p><p> </p><p>In Spring 2018, the Government conducted a Call for Evidence on Cash &amp; Digital Payments in the New Economy. In the recent response to this Call for Evidence, the Government committed to supporting digital payments whilst safeguarding access to cash for those who need it. Furthermore, the Government announced the launch of the Joint Authorities Cash Strategy (JACS) Group, which brings together the Payment Systems Regulator (PSR), Financial Conduct Authority and Bank of England to ensure a comprehensive oversight of the overall cash infrastructure in light of changing trends related to cash.</p><p> </p><p>The Government established the PSR in 2015, with robust powers and a statutory objective to ensure that the UK's payment systems work in the interests of their users. The PSR regulates LINK, the scheme which runs the UK’s ATM network, and has used its powers to hold LINK to account over LINK’s commitments to preserve the broad geographic spread of the ATM network.</p><p> </p><p>Furthermore, the Government has invested heavily in maintaining a stable network of Post Office branches, with investment of over £2 billion since 2010. Currently, 99 per cent of personal customers and 95 per cent of small business customers can access cash locally at one of the Post Office’s 11,500 branches.</p> answering member constituency Salisbury answering member printed John Glen question first answered 03/09/2019 07:03:13 answering member 4051 label Biography information for John Glen
tabling member	350 label Biography information for Sir John Hayes

1141761

registered interest
date	24/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Pay
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department has taken to cap large bonuses paid to bankers.
tabling member constituency	South Holland and The Deepings
tabling member printed	Sir John Hayes
uin	281596
answer	answer is ministerial correction date of answer 03/09/2019 answer text <p>The EU’s Capital Requirements Directive IV introduced a cap on variable remuneration for senior staff and other key decision makers, applicable from January 2014. It is set at 100% of the individual’s salary, or up to 200% where both the Member State and shareholders agree. In the UK, this currently applies to firms with relevant total assets exceeding £15 billion, with the Prudential Regulation Authority and the Financial Conduct Authority responsible for ensuring firms comply with this requirement.</p> answering member constituency Salisbury answering member printed John Glen question first answered 03/09/2019 07:03:24 answering member 4051 label Biography information for John Glen
tabling member	350 label Biography information for Sir John Hayes

1141039

registered interest
date	22/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Cybersecurity
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 banks are able to effectively tackle cybercrime.
tabling member constituency	Peterborough
tabling member printed	Ms Lisa Forbes
uin	280460
answer	answer is ministerial correction date of answer 24/07/2019 answer text <p>The Government is determined to protect consumers and further improve the resilience of the finance sector.</p><p> </p><p>The Financial Authorities (HM Treasury, the Bank of England, Prudential Regulation Authority, and the Financial Conduct Authority) work together to assess, test and improve the operational resilience, including cyber resilience, of the finance sector.</p><p> </p><p>The finance sector also benefits from a dedicated team within the National Cyber Security Centre, who work closely with industry, the Financial Authorities, and the National Crime Agency to protect firms and provide support during incidents.</p><p> </p><p>In July 2018, the Prudential Regulation Authority and the Financial Conduct Authority published a joint Discussion Paper on an approach to improve the operational resilience, including cyber resilience, of firms and financial market infrastructures.</p><p> </p><p>It has also been made easier for customers to report fraud or cybercrime to law enforcement. Action Fraud is the UK’s reporting centre for fraud and cybercrime, providing a central point of contact for information about fraud and financially motivated internet crime.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 24/07/2019 10:29:26 answering member 4051 label Biography information for John Glen
tabling member	4717 label Biography information for Ms Lisa Forbes

1140616

registered interest
date	19/07/2019
answering body	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 the Chancellor of the Exchequer, with reference to the Guidance on how to prepare for Brexit if there's no deal, published by the Department for Exiting the European Union, what parts of the plan for banking, insurance and other financial services in the event that the UK leaves the EU without a deal have been implemented.
tabling member constituency	Streatham
tabling member printed	Chuka Umunna
uin	279465
answer	answer is ministerial correction date of answer 24/07/2019 answer text <p>The Government has done the necessary work to make sure that we continue to have a stable and functioning financial services regime at the point of leaving the EU in a no deal scenario.</p><p> </p><p>The Government has delivered a programme of legislation under the EU Withdrawal Act in order to provide continuity for UK citizens and businesses and to ensure the UK regulatory regime can function effectively outside of the EU.</p><p> </p><p>This legislation includes temporary permissions for EEA firms currently passporting into the EU, and temporary permissions to allow UK firms to continue using Central Counterparties (CCPs) and Central Securities Depositories (CSDs) in the EEA. It also includes a transitional power for regulators to phase in post-exit regulatory requirements for firms where they have changed as a result of the UK leaving the EU.</p><p> </p><p>Following the six-month Article 50 extension, new EU financial services legislation will become applicable between now and 31 October 2019 and will therefore form part of UK law on exit day. We are laying further Statutory Instruments under the EU Withdrawal Act to ensure this new legislation is workable in the UK at exit.</p><p> </p><p>However, it should be noted that the UK authorities are not able through unilateral action to fully address all the risks. For example, the risks to EEA customers of UK firms currently providing services into the EEA using the financial services passport also require action from the EU or individual member states.</p><p> </p><p>We therefore welcome the steps taken by the EU and some individual member states to mitigate some of the risks. This includes: the EU’s temporary equivalence and recognition for UK CCPs and CSDs; ESMA’s decision to approve Memoranda of Understanding (MoUs) that include provisions to allow cross-border delegation of portfolio management between the UK and the EEA; and EIOPA recommendations which call on relevant member state regulators to put in place measures which aim to minimise detriment to insurance policyholders.</p><p> </p><p>As a result of all these actions, the Bank of England’s Financial Policy Committee said in its Financial Stability Report (July 2019): ‘Most risks to UK financial stability from disruption to cross-border financial services in a no-deal Brexit have been mitigated.’ But they also note that ‘in the absence of further action by EU authorities, some disruption to cross-border financial services is possible.’</p> answering member constituency Salisbury answering member printed John Glen question first answered 24/07/2019 10:57:17 answering member 4051 label Biography information for John Glen
tabling member	4128 label Biography information for Chuka Umunna

1139296

registered interest
date	16/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Securities: Islam
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to his Mansion House dinner speech on 20 June 2019, what his timeframe is for his Department to issue a second sovereign sukuk; and if he will make a statement.
tabling member constituency	Kilmarnock and Loudoun
tabling member printed	Alan Brown
uin	277780
answer	answer is ministerial correction date of answer 22/07/2019 answer text <p>Over the coming weeks the relevant teams at HM Treasury will work with the Debt Management Office and other officials on formulating the procurement process for the appointment of structuring and legal advisers. A specific timetable has not yet been determined for this. Further announcements, including on the timing of the issuance, will be made in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 277615 question first answered 22/07/2019 13:58:59 answering member 4051 label Biography information for John Glen
tabling member	4470 label Biography information for Alan Brown

1139297

registered interest
date	16/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Islam
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment the Government has made of the potential merits of using sukuk to finance infrastructure projects; and if he will make a statement.
tabling member constituency	Kilmarnock and Loudoun
tabling member printed	Alan Brown
uin	277781
answer	answer is ministerial correction date of answer 22/07/2019 answer text The proceeds from the Sukuk, like the proceeds from the wider gilt programme, flow into the consolidated fund. This is used for general expenditure, including expenditure on infrastructure. The government considers the core gilt program rather than the Sukuk to be the most cost-effective way of raising money for expenditure, including that of infrastructure projects. The main purpose behind the decision to issue a second Sukuk is to reaffirm the government’s commitment to the UK being the Western hub for Islamic finance, whilst also providing high-quality liquid assets to UK-based Islamic banks. answering member constituency Salisbury answering member printed John Glen grouped question UIN 277616 question first answered 22/07/2019 14:01:35 answering member 4051 label Biography information for John Glen
tabling member	4470 label Biography information for Alan Brown

1138832

registered interest
date	15/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Ombudsman Service
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will review the process for allocating a case to an investigator by the Financial Ombudsman Service to reduce the time taken for that process.
tabling member constituency	Chichester
tabling member printed	Gillian Keegan
uin	277299
answer	answer is ministerial correction date of answer 22/07/2019 answer text <p>This is a matter for the Financial Ombudsman Service (FOS) which is operationally independent from Government. The question has been passed on to the FOS. The FOS will reply directly to the member for Chichester by letter. A copy of the letter will be placed in the Library of the House.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 22/07/2019 14:03:22 answering member 4051 label Biography information for John Glen
tabling member	4680 label Biography information for Gillian Keegan

1138080

registered interest
date	10/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Help to Save Scheme
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 increase awareness of the Help to Save scheme.
tabling member constituency	Brigg and Goole
tabling member printed	Andrew Percy
uin	275728
answer	answer is ministerial correction date of answer 19/07/2019 answer text <p>The Government promotes Help to Save through established channels such as the Tax Credits digital service and stakeholders including the Money and Pensions Service and StepChange.</p><p> </p><p>In addition, HMRC has publicised Help to Save through social media, which generated coverage in national, regional and consumer publications.</p><p> </p><p>HMRC continuously reviews how best to maximise take-up of the scheme.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 19/07/2019 12:01:22 answering member 4051 label Biography information for John Glen
tabling member	3939 label Biography information for Andrew Percy

1138081

registered interest
date	10/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Individual Savings Accounts
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many people have invested in a Lifetime ISA since its introduction.
tabling member constituency	Brigg and Goole
tabling member printed	Andrew Percy
uin	275729
answer	answer is ministerial correction date of answer 18/07/2019 answer text <p>The Lifetime ISA was introduced to help younger generations save both for their first home and later life. It has been available since April 2017. Individuals can subscribe up to £4,000 a year into a Lifetime ISA, receiving a 25% government bonus.</p><p> </p><p>Since its introduction, monthly digital reporting to HMRC by Lifetime ISA providers indicate that over 330,000 people have invested in a Lifetime ISA.</p> answering member constituency Salisbury answering member printed John Glen question first answered 18/07/2019 13:20:57 answering member 4051 label Biography information for John Glen
tabling member	3939 label Biography information for Andrew Percy