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1142701

registered interest
date	02/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Overseas Loans: Registration
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions he has had with the Secretary of State for International Development on establishing an Overseas Loan Transparency Register to ensure that people using UK law in loan contracts are not able to make secret loans to governments in the Global South.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	284204
answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The Chancellor of the Exchequer has not discussed proposals to establish an “Overseas Loan Transparency Register” with the Secretary of State for International Development.</p><p> </p><p>The UK Government is concerned about the sustainability and transparency of loans to low income developing countries. Given the complex international nature of sovereign debt, we continue to believe that internationally-agreed approaches are the most effective way to promote sovereign debt transparency.</p><p> </p><p>The UK is working through the G20 to monitor an industry-led initiative by the Institute of International Finance (IIF) to improve the transparency of lending of private creditors. The work of the IIF was acknowledged by finance ministers in June at the G20 finance ministers’ summit in Fukuoka, and the UK government will be closely monitoring its progress.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:46:52 answering member 4051 label Biography information for John Glen
tabling member	178 label Biography information for John McDonnell

1142715

registered interest
date	02/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Investment Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what reports he has received on the level of the practice of dividend arbitrage; and what steps he is taking to end dividend arbitrage.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	284235
answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The Financial Conduct Authority published requirements for firms relating to dividend arbitrage in Market Watch 52, along with a summary of the findings of a review of firms engaged in the practice. These requirements are designed to ensure that firms maintain effective systems and controls to ensure they are not used to facilitate market abuse, or are used for a purpose connected with financial crime.</p><p> </p><p>The UK is taking a leading role internationally in preventing the use of these practices for illicit purposes and I am working closely with the Financial Conduct Authority to ensure that these practices are not used to facilitate market abuse.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:31:16 answering member 4051 label Biography information for John Glen
tabling member	178 label Biography information for John McDonnell

1142105

registered interest
date	25/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Equitable Life Assurance Society: Compensation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps the Government has taken to support people affected by the Equitable Life scandal.
tabling member constituency	Cardiff Central
tabling member printed	Jo Stevens
uin	282454
answer	answer is ministerial correction date of answer 03/09/2019 answer text <p>In 2010 the government allocated up to £1.5bn, tax free, for payment to affected policyholders. More detail on the history of the action taken on this issue can be found at <a href="https://www.gov.uk/government/publications/equitable-life-payment-scheme-final-report" target="_blank">https://www.gov.uk/government/publications/equitable-life-payment-scheme-final-report</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 03/09/2019 08:16:00 answering member 4051 label Biography information for John Glen
tabling member	4425 label Biography information for Jo Stevens

1142125

registered interest
date	25/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: UK Relations with EU
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the EU has agreed to implement (a) temporary equivalence and recognition for UK central counterparties and central securities depositories, (b) the European Securities and Markets Authority’s decision to approve Memoranda of Understanding on allowing cross-border delegation of portfolio management between the UK and the EEA and (c) the European Insurance and Occupational Pensions Authority's recommendations on relevant member state regulators to minimise detriment to insurance policyholders in the in the event the UK leaves the EU without an agreement.
tabling member constituency	Streatham
tabling member printed	Chuka Umunna
uin	282348
answer	answer is ministerial correction date of answer 03/09/2019 answer text <p>I refer the Hon. Member to the answer that I gave on 24 July 2019 under UIN 279465.</p><p> </p><p>We welcome the steps taken by the EU and some individual member states to help mitigate cliff-edge risks to financial services. This includes:</p><ul><li>The EU’s temporary equivalence and recognition for UK central counterparties (CCPs) and central securities depositories (CSDs). This follows similar action from HMT to legislate for a process to facilitate continued access for EU and global CCPs and CSDs to the UK market.</li><li>The European Securities and Markets Authority and the FCA have agreed MoUs that include provisions to allow cross-border delegation of portfolio management between the UK and the EEA. This provides the asset management industry with certainty that portfolio delegation services between themselves and clients in the EEA can continue in any exit scenario.</li><li>Recommendations from the European Insurance and Occupational Pensions Authority which call on relevant Member State regulators to put in place measures which aim to minimise detriment to insurance policyholders. It is a matter for national regulators whether they choose to comply with this guidance.</li></ul> answering member constituency Salisbury answering member printed John Glen question first answered 03/09/2019 08:14:29 answering member 4051 label Biography information for John Glen
tabling member	4128 label Biography information for Chuka Umunna

1142217

registered interest
date	25/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Technology
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 increase the level of support it provides to the FinTech sector in the UK.
tabling member constituency	St Albans
tabling member printed	Mrs Anne Main
uin	282253
answer	answer is ministerial correction date of answer 05/09/2019 answer text <p>The UK has been independently ranked as the best place in the world to start and grow a Fintech firm, and the government is committed to maintaining the UK’s leading edge in the sector. That is why the government has delivered against all of the commitments made in the Fintech Sector Strategy, which was launched last year.</p><p> </p><p>The government announced at Mansion House 2019 that HM Treasury would launch a review into the payments landscape, which looks to ensure that regulation and infrastructure is able to keep pace with new payments models. The government also announced that it would explore building on the success of Open Banking by developing an agenda for ‘Open Finance’, looking at ways to safely and securely share data across a wider range of financial services products. This will further revolutionise the sector and increase the ability of Fintech firms to compete with traditional financial services firms.</p> answering member constituency Salisbury answering member printed John Glen question first answered 05/09/2019 10:00:44 answering member 4051 label Biography information for John Glen
tabling member	1568 label Biography information for Mrs Anne Main

1141689

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	Health Insurance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many and what proportion of people in the UK have private medical insurance.
tabling member constituency	Bootle
tabling member printed	Peter Dowd
uin	281774
answer	answer is ministerial correction date of answer 03/09/2019 answer text <p>The Government monitors the insurance market and is responsible for setting the overall legal framework of financial services regulation.</p><p> </p><p>The Government does not hold information on the amount spent on private medical cover, or on the number and proportion of people in the UK with private medical insurance.</p><p> </p><p>However, data from the Office for National Statistics reports that total expenditure on voluntary health insurance was £6 billion in 2017.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 281775 question first answered 03/09/2019 07:04:19 answering member 4051 label Biography information for John Glen
tabling member	4397 label Biography information for Peter Dowd

1141690

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	Health Insurance: Expenditure
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how much was spent on private medical health cover in the UK in 2018.
tabling member constituency	Bootle
tabling member printed	Peter Dowd
uin	281775
answer	answer is ministerial correction date of answer 03/09/2019 answer text <p>The Government monitors the insurance market and is responsible for setting the overall legal framework of financial services regulation.</p><p> </p><p>The Government does not hold information on the amount spent on private medical cover, or on the number and proportion of people in the UK with private medical insurance.</p><p> </p><p>However, data from the Office for National Statistics reports that total expenditure on voluntary health insurance was £6 billion in 2017.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 281774 question first answered 03/09/2019 07:04:19 answering member 4051 label Biography information for John Glen
tabling member	4397 label Biography information for Peter Dowd

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