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1456608

registered interest
date	31/03/2022
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 the Chancellor of the Exchequer, what recent assessment he has made of the impact of inflation on the growth in consumer credit borrowing.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	151308
answer	answer is ministerial correction date of answer 25/04/2022 answer text <p>HM Treasury regularly monitors changes in the consumer credit market as part of its normal process of policy development. However, it does not routinely forecast the impact of inflation on consumer credit usage.</p><p> </p><p>It is worth noting that the ONS Quarterly National Accounts found that the household debt to income ratio has decreased to 136% in Q4 2021, down from a high of 163% in Q1 2008. Around three quarters of total debt is secured against housing. Unsecured debt as a share of household income is now 32% (Q4 2021), down from its peak of 43% before the financial crisis (Q1 2007).</p><p><strong> </strong></p><p>Retrospective analysis of trends in consumer credit product usage is produced by other organisations, including the Bank of England’s monthly statistical releases on money and credit and the Financial Conduct Authority’s Financial Lives Surveys.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 25/04/2022 13:02:42 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1456609

registered interest
date	31/03/2022
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 the Chancellor of the Exchequer, what recent assessment he has made of the level of reliance on consumer credit borrowing for essential household purchases.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	151309
answer	answer is ministerial correction date of answer 25/04/2022 answer text <p>Overall, household finances are healthier than before the pandemic and compared to the Global Financial Crisis of 2008.</p><p> </p><p>Households accumulated around £230 billion in additional savings between the start of 2020 and Q3 2021, while total consumer credit borrowing decreased by 11% in the two years to February 2022.</p><p> </p><p>The Government is committed to delivering a well-functioning and sustainable consumer credit market which is able to meet the needs of all consumers.</p><p> </p><p>The Government is also committed to supporting the affordable credit sector. At Budget 2021, the government announced up to £3.8m for a pilot No-Interest Loans Scheme to support vulnerable consumers who would benefit from affordable credit to meet unexpected costs as an alternative to relying on high-cost credit.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 25/04/2022 13:20:16 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1438112

registered interest
date	04/03/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Low Incomes
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what forecast her Department has made of potential changes in the use of consumer credit by low-income families over the next 12 months.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	134416
answer	answer is ministerial correction date of answer 15/03/2022 answer text <p>HM Treasury regularly monitors changes in the consumer credit market as part of its normal process of policy development. However, it does not routinely forecast consumer credit usage, including use by low-income households.</p><p> </p><p>Retrospective analysis of trends in consumer credit product usage is produced by other organisations, including the Bank of England’s monthly statistical releases on money and credit and the Financial Conduct Authority’s Financial Lives Surveys.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/03/2022 14:46:16 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1438113

registered interest
date	04/03/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what forecast his Department has made of the potential change in household debt as a share of household disposable income over the next 12 months.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	134417
answer	answer is ministerial correction date of answer 15/03/2022 answer text <p>The Office for National Statistics (ONS) produces estimates of household debt in the UK. In the UK as a whole, household debt-to-income was 136.5% in 2021 Q3. This compares to a pre-financial crisis peak of 159% in 2008 Q1.</p><p> </p><p>In their October 2021 forecast, the independent Office for Budget Responsibility (OBR) estimated that household-debt-to-income would fall by 0.6 percentage points in 2022, and remain unchanged during 2023. The OBR will publish an updated forecast on 23 March 2022.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/03/2022 16:11:22 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1438114

registered interest
date	04/03/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Inflation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what forecast his Department has made of the potential peak in consumer price inflation over the next 12 months.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	134418
answer	answer is ministerial correction date of answer 15/03/2022 answer text <p>The independent Office for Budget Responsibility (OBR) published its most recent economic and fiscal forecasts in October 2021, when they expected CPI inflation to peak at 4.4% in Q2 2022. The independent Bank of England stated in their February Monetary Policy Report that they expect inflation to peak at around 7.3% in April 2022. The Chancellor has requested the OBR publish a Spring forecast on 23 March 2022.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 15/03/2022 16:10:13 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1421028

registered interest
date	08/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Barclays: Closures
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether officials in his Department have had discussions with representatives of Barclays Bank on its bank closure program.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	120948
answer	answer is ministerial correction date of answer 16/02/2022 answer text <p>Treasury ministers and officials engage with Barclays on a variety of issues.</p><p> </p><p>The Government recognises the continued importance of access to banking. However, decisions on opening and closing branches are a commercial issue for banks and building societies.</p><p> </p><p>The largest banks and building societies have been signed up to the Access to Banking Standard since 2017, which commits them to ensure that customers are well informed about branch closures, the bank’s reasons for closure and options for continued access to banking services.</p><p /><p>Guidance from the Financial Conduct Authority also sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</p><p /><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 120949 question first answered 16/02/2022 13:58:45 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1421029

registered interest
date	08/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks
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 preserve physical banking provision in the UK.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	120949
answer	answer is ministerial correction date of answer 16/02/2022 answer text <p>Treasury ministers and officials engage with Barclays on a variety of issues.</p><p> </p><p>The Government recognises the continued importance of access to banking. However, decisions on opening and closing branches are a commercial issue for banks and building societies.</p><p> </p><p>The largest banks and building societies have been signed up to the Access to Banking Standard since 2017, which commits them to ensure that customers are well informed about branch closures, the bank’s reasons for closure and options for continued access to banking services.</p><p /><p>Guidance from the Financial Conduct Authority also sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</p><p /><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 120948 question first answered 16/02/2022 13:58:45 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1421030

registered interest
date	08/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Access to Cash Review
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when he plans to publish his Department’s response to the Access to cash consultation.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	120950
answer	answer is ministerial correction date of answer 16/02/2022 answer text <p>The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.</p><p> </p><p>From 1 July to 23 September last year, the Government held the Access to Cash Consultation on proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. The Government’s proposals intend to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities.</p><p> </p><p>The Government received responses to the consultation from a broad range of respondents, including individuals, businesses, and charities.</p><p> </p><p>The Government is carefully considering responses to the consultation as it develops legislation. The Government will set out next steps in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 120951 question first answered 16/02/2022 13:52:05 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1421031

registered interest
date	08/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Access to Cash Review
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to bring forward legislative proposals in response to the Access to cash consultation.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	120951
answer	answer is ministerial correction date of answer 16/02/2022 answer text <p>The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.</p><p> </p><p>From 1 July to 23 September last year, the Government held the Access to Cash Consultation on proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. The Government’s proposals intend to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities.</p><p> </p><p>The Government received responses to the consultation from a broad range of respondents, including individuals, businesses, and charities.</p><p> </p><p>The Government is carefully considering responses to the consultation as it develops legislation. The Government will set out next steps in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 120950 question first answered 16/02/2022 13:52:05 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1419915

registered interest
date	04/02/2022
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 assessment he has made of the implications for his policies of the findings of the Bank of England Monetary Policy Report of 3 February 2022, that pay has risen by less than prices, such that households real incomes are being squeezed.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	118645
answer	answer is ministerial correction date of answer 09/02/2022 answer text <p>We understand that inflation, if higher than income growth, can reduce households’ real income, and that higher prices can increase the cost of living for people and households.</p><p> </p><p>The government is providing support worth around £12 billion this financial year and next to help families with the cost of living. Much of the support in place that will help ease these pressures is UK-wide, for example the increase to the National Living Wage, the change to the Universal Credit taper rate and increase to the Work Allowance, as well as freezes to alcohol duty and fuel duty.</p><p> </p><p>In addition, the government has announced a package of support to help households with rising energy bills, worth £9.1 billion in 2022-23.</p><p> </p><p>The government’s Plan for Jobs is also helping people into work and giving them the skills they need to progress – the best approach to managing the cost of living in the long term.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 118646 118648 118650 question first answered 09/02/2022 08:14:01 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter