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1023107

registered interest
date	11/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Unions
house id	1
legislature	25259 pref label House of Commons
question text	What further steps he plans to take to support credit unions.
tabling member constituency	Harrow West
tabling member printed	Gareth Thomas
uin	908141
answer	answer is ministerial correction date of answer 11/12/2018 answer text <p>The government remains committed to supporting credit unions, which provide vital services to local communities.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a package of measures to support the social and community lending sector, including credit unions.</p><p> </p><p>This includes a prize-linked savings scheme for credit unions, simplifying regulation to make it easier for Registered Social Landlords to refer to credit unions, and a challenge fund to create technological solutions for credit unions and Community Development Finance Institutions.</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/12/2018 17:04:01 answering member 4051 label Biography information for John Glen
tabling member	177 label Biography information for Gareth Thomas

1023014

registered interest
date	10/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the oral contribution of 6 December 2018, Official Report, column 1091, if he will publish the enhanced equivalence arrangements for regulating financial services between the UK and the EU.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	200541
answer	answer is ministerial correction date of answer 13/12/2018 answer text <p>I refer the Rt Hon Gentleman to my answer to him on 29 November in response to <a href="https://www.parliament.uk/business/publications/written-questions-answers-statements/written-question/Commons/2018-11-26/195459/" target="_blank">written question 195459</a>. Further detail building on the agreement in the political declaration will be set out by the UK and EU as part of negotiations on the future relationship.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/12/2018 14:25:16 answering member 4051 label Biography information for John Glen
tabling member	163 label Biography information for Sir Stephen Timms

1020712

registered interest
date	06/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if his Department will produce a regional breakdown for the estimated change in GDP predicted to occur in the event that (a) the UK adopts the Government’s proposed EU withdrawal agreement, (b) the UK leaves the EU and adopts a basic Free Trade Agreement and (c) the UK leaves the EU without a deal.
tabling member constituency	Carshalton and Wallington
tabling member printed	Tom Brake
uin	199762
answer	answer is ministerial correction date of answer 11/12/2018 answer text <p>The Office for National Statistics do not publish estimates of regional GDP. However, they do publish estimates of regional Gross Value Added, which is a very similar measure. This data is used in the Government’s analysis.</p><p> </p><p>The Government’s analysis provides estimates of long-run changes to regional GVA in four scenarios – modelled White Paper, modelled EEA-type, modelled average FTA, and modelled no deal - compared to today’s arrangements.</p><p> </p><p>The analysis shows that all regions and nations of the UK will be better off in the modelled white paper scenario than in the modelled no-deal.</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/12/2018 15:31:51 answering member 4051 label Biography information for John Glen
tabling member	151 label Biography information for Tom Brake

1020750

registered interest
date	06/12/2018
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 the Chancellor of the Exchequer, pursuant to the Answer of 28 November 2018 to Question 196880 on the European Investment Bank (EIB), what steps his Department is taking to (a) control, (b) manage and (c) oversee (i) risks and (ii) liabilities arising from EIB activities and the exposure of the UK to those risks after the UK leaves the EU.
tabling member constituency	Witham
tabling member printed	Priti Patel
uin	199863
answer	answer is ministerial correction date of answer 11/12/2018 answer text <p>The Withdrawal Agreement (WA) set the framework for the management, control and oversight of the UK’s EIB risk and ongoing liabilities. As part of the WA the UK secured the return of its €3.5bn capital in the EIB. The UK will maintain its contingent liability for financial operations approved before the WA enters into force to ensure existing projects face no disruption. This commitment will decrease as the back book of loans runs down and only in very exceptional circumstances would the EIB call upon the UK to contribute further amounts to the Bank; to date, the EIB has never called on Member States in this way. If this guarantee were called upon, any support would be provided on equal terms with Member States.</p><p>As set out in the WA the EIB is obligated to send the UK annual details of the UK’s remaining exposure and the limit on the UK’s liabilities to the EIB in addition to details of any material changes that could impact the UK’s liabilities.</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/12/2018 15:34:09 answering member 4051 label Biography information for John Glen
tabling member	4066 label Biography information for Priti Patel

1020339

registered interest
date	05/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
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 likelihood of recouping the cost to the public purse of the bailout of the Royal Bank of Scotland by planned sale of shares by 2023-24.
tabling member constituency	Luton North
tabling member printed	Kelvin Hopkins
uin	199257
answer	answer is ministerial correction date of answer 10/12/2018 answer text <p>At Budget 2018 Government announced an intention to undertake a full disposal of its Royal Bank of Scotland shareholding by 2023-24.</p><p>In its Economic and Fiscal Outlook (<a href="https://cdn.obr.uk/EFO_October-2018.pdf" target="_blank">https://cdn.obr.uk/EFO_October-2018.pdf</a>), the independent Office for Budget Responsibility (OBR) forecast the total value of expected proceeds from sales of the RBS shareholding (paragraph 4.208). The OBR also estimate the gross and net cash flows of the financial sector interventions (table 4.44), noting that ‘the economic and fiscal costs of the [financial] crisis would almost certainly have been greater in the absence of these direct interventions to restore the financial system to stability’.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 199258 question first answered 10/12/2018 15:19:41 answering member 4051 label Biography information for John Glen
tabling member	2 label Biography information for Kelvin Hopkins

1020344

registered interest
date	05/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate he has made of the expected contribution to the public purse of the proposed sale of the Government's stake in RBS.
tabling member constituency	Luton North
tabling member printed	Kelvin Hopkins
uin	199258
answer	answer is ministerial correction date of answer 10/12/2018 answer text <p>At Budget 2018 Government announced an intention to undertake a full disposal of its Royal Bank of Scotland shareholding by 2023-24.</p><p>In its Economic and Fiscal Outlook (<a href="https://cdn.obr.uk/EFO_October-2018.pdf" target="_blank">https://cdn.obr.uk/EFO_October-2018.pdf</a>), the independent Office for Budget Responsibility (OBR) forecast the total value of expected proceeds from sales of the RBS shareholding (paragraph 4.208). The OBR also estimate the gross and net cash flows of the financial sector interventions (table 4.44), noting that ‘the economic and fiscal costs of the [financial] crisis would almost certainly have been greater in the absence of these direct interventions to restore the financial system to stability’.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 199257 question first answered 10/12/2018 15:19:41 answering member 4051 label Biography information for John Glen
tabling member	2 label Biography information for Kelvin Hopkins

1020370

registered interest
date	05/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Offshore Trusts
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if the Government will commit to the full disclosure of the beneficiaries of offshore trusts.
tabling member constituency	Luton North
tabling member printed	Kelvin Hopkins
uin	199259
answer	answer is ministerial correction date of answer 10/12/2018 answer text <p>Overseas trusts that incur a UK tax consequence are already required to register full details of their beneficial ownership with HMRC, ensuring law enforcement can access this information.</p><p> </p><p>The Fifth EU Anti-Money Laundering Directive (5AMLD) requires an expansion of the scope of the UK’s register from ‘trusts with a tax consequence’ to all UK express trusts and non-EU trusts which acquire UK real estate or have a business relationship with a UK regulated entity. Access to this register will also be extended to firms regulated for anti-money laundering purposes, and those persons with a ‘legitimate interest’ in the information. The Government will consult on the transposition of this change in due course. 5AMLD has a transposition deadline during January 2020. This falls within the implementation period, and so the UK will transpose this Directive.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/12/2018 15:20:52 answering member 4051 label Biography information for John Glen
tabling member	2 label Biography information for Kelvin Hopkins

1020373

registered interest
date	05/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Office for Professional Body Anti-money Laundering Supervision
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 effectiveness of the Office for Professional Body Anti-Money Laundering Supervision in improving standards in the financial sector.
tabling member constituency	Luton North
tabling member printed	Kelvin Hopkins
uin	199262
answer	answer is ministerial correction date of answer 13/12/2018 answer text <p>The Office for Professional Body Anti-Money Laundering Supervision (OPBAS) became operational in January 2018. OPBAS is part of the Financial Conduct Authority (FCA) and supervises 22 professional body anti-money laundering (AML) supervisors which oversee the legal and accountancy sectors, as listed in the Money Laundering Regulations 2017. Neither OPBAS, nor the professional body AML supervisors (PBSs) supervise AML activities in the financial sector, which is instead supervised by the FCA. Fighting financial crime is a key priority for the FCA.</p><p> </p><p>OPBAS’s key objectives are to reduce the harm of money laundering and terrorist financing by:</p><ul><li><p>ensuring a robust and consistently high standard of supervision by the PBSs overseeing the legal and accountancy sectors;</p></li><li><p>facilitating collaboration, and information and intelligence sharing between PBSs, statutory supervisors, and law enforcement agencies.</p><p>The recent Financial Action Task Force (FATF) review of the UK’s AML regime recommended that the UK should closely monitor the impact of OPBAS in undertaking its work.</p><p> </p></li></ul><p>By the end of 2018, OPBAS will have completed its initial supervisory assessments of all PBSs. The Government will continue to work closely with OPBAS to ensure that its plans and activities are effective and risk-based.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/12/2018 14:18:27 answering member 4051 label Biography information for John Glen
tabling member	2 label Biography information for Kelvin Hopkins

1019812

registered interest
date	04/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debt Collection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what guidelines his Department issues on appropriate working practices for the debt collection industry.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	198727
answer	answer is ministerial correction date of answer 10/12/2018 answer text <p>Financial Conduct Authority (FCA) regulation of debt collection agencies (DCAs) provides strong protections for consumers.</p><p> </p><p>In particular, DCAs under FCA regulation have to comply with the FCA’s high-level principle to treat customers fairly, offer appropriate forbearance, and signpost individuals to free, impartial debt advice should a consumer be in default, or in arrears difficulty.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/12/2018 15:11:06 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1019874

registered interest
date	04/12/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Prudential Regulation Authority: Staff
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many FTE staff were employed by the Prudential Regulation Authority in each of the last five years.
tabling member constituency	Glasgow Central
tabling member printed	Alison Thewliss
uin	198872
answer	answer is ministerial correction date of answer 10/12/2018 answer text <p>The below figures for FTE staff employed by the Prudential Regulation Authority are published in the Bank of England’s Annual Reports and Accounts (BoE ARA) over the last five years.</p><p> </p><ul><li><p>2018: 1399 [Source: p138 of the BoE ARA 2017-18]</p></li><li><p>2017: 1327 [Source: p99 of the BoE ARA 2016-17]</p></li><li><p>2016: 1242 [Source: p100 of the BoE ARA 2016]</p></li><li><p>2015: 1139 [Source: p112 of the BoE ARA 2015]</p></li><li><p>2014: 953 [Source: p85 of the BoE ARA 2014}</p></li></ul><p> </p><p>Prior to PRA de-subsidiarisation, slightly different numbers were presented in the PRA’s Annual Report and Accounts (due to the way contingent workers are defined), but the above are the most representative numbers with like-for-like comparisons year-on-year.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/12/2018 15:17:23 answering member 4051 label Biography information for John Glen
tabling member	4430 label Biography information for Alison Thewliss