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1606408

registered interest
date	22/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Motor Vehicles: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the effectiveness of the expensive car supplement.
tabling member constituency	Glasgow North West
tabling member printed	Carol Monaghan
uin	171452
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>Cars with a list price when new exceeding £40,000 pay an additional supplement for five years as well as paying the standard rate of Vehicle Excise Duty (VED), which means those who can afford the most expensive cars pay more than the standard rate paid by other drivers.</p><p> </p><p>The £40,000 threshold was set as a suitable way of distinguishing the more luxury end of the new car market. As around 80% of all new cars currently have a list price below £40,000, the Government considers this threshold to be suitable.</p><p> </p><p>As with all taxes, the expensive car supplement is kept under review and any changes are considered and announced by the chancellor.</p> answering member constituency South Suffolk answering member printed James Cartlidge question first answered 27/03/2023 16:52:06 answering member 4519 label Biography information for James Cartlidge
tabling member	4443 label Biography information for Carol Monaghan

1606425

registered interest
date	22/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Suisse: Takeovers
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 potential implications for (a) his policies and (b) the banking sector of the treatment of additional tier-one bondholders in the takeover of Credit Suisse.
tabling member constituency	Vale of Glamorgan
tabling member printed	Alun Cairns
uin	171395
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>As noted by the Chancellor on Monday 20 March, the Government welcomes the steps taken by the Swiss authorities in relation to Credit Suisse to support financial stability.</p><p> </p><p>The Bank of England published a statement to reiterate the creditor hierarchy in the UK. The statement confirmed that Additional Tier 1 (AT1) instruments rank ahead of Common Equity Tier 1 (CET1) and behind Tier 2 (T2) instruments in the insolvency creditor hierarchy. Holders of such instruments should expect to be exposed to losses in resolution or insolvency in the order of their positions in this hierarchy.</p><p> </p><p>The Prudential Regulation Authority is responsible for supervising UK banks’ capital adequacy requirements. The Bank of England's quarterly statistical release shows that the value of Additional Tier 1 capital in the UK banking sector was £67 billion as at Q3 2022. This figure includes both externally issued and intragroup capital instruments.</p><p> </p><p>The Governor of the Bank of England has confirmed that the UK banking system remains safe, sound and well capitalised.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 171396 question first answered 27/03/2023 14:26:40 answering member 4874 label Biography information for Andrew Griffith
tabling member	4086 label Biography information for Alun Cairns

1606427

registered interest
date	22/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the value of Additional Tier 1 bonds supporting UK banks is; and what assessment he has made of the potential impact of the takeover of Credit Suisse on UK Banks' ability to issue those bonds in the future.
tabling member constituency	Vale of Glamorgan
tabling member printed	Alun Cairns
uin	171396
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>As noted by the Chancellor on Monday 20 March, the Government welcomes the steps taken by the Swiss authorities in relation to Credit Suisse to support financial stability.</p><p> </p><p>The Bank of England published a statement to reiterate the creditor hierarchy in the UK. The statement confirmed that Additional Tier 1 (AT1) instruments rank ahead of Common Equity Tier 1 (CET1) and behind Tier 2 (T2) instruments in the insolvency creditor hierarchy. Holders of such instruments should expect to be exposed to losses in resolution or insolvency in the order of their positions in this hierarchy.</p><p> </p><p>The Prudential Regulation Authority is responsible for supervising UK banks’ capital adequacy requirements. The Bank of England's quarterly statistical release shows that the value of Additional Tier 1 capital in the UK banking sector was £67 billion as at Q3 2022. This figure includes both externally issued and intragroup capital instruments.</p><p> </p><p>The Governor of the Bank of England has confirmed that the UK banking system remains safe, sound and well capitalised.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 171395 question first answered 27/03/2023 14:26:40 answering member 4874 label Biography information for Andrew Griffith
tabling member	4086 label Biography information for Alun Cairns

1605952

registered interest
date	21/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Taxation
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 how many people in (a) Newport East constituency and (b) Wales will benefit from the end of the lifetime limit on tax-free pensions.
tabling member constituency	Newport East
tabling member printed	Jessica Morden
uin	170567
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>Information on the abolition of the lifetime allowance can be found in the Pension Tax Limits Policy paper <a href="https://www.gov.uk/government/publications/abolition-of-lifetime-allowance-and-increases-to-pension-tax-limits/pension-tax-limits" target="_blank">Pension Tax Limits - GOV.UK (www.gov.uk)</a></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 27/03/2023 14:19:34 answering member 4874 label Biography information for Andrew Griffith
tabling member	1548 label Biography information for Jessica Morden

1605969

registered interest
date	21/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Advice Market Review
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what progress his Department has made on implementing the recommendations of the 2016 Financial Advice Market Review.
tabling member constituency	West Worcestershire
tabling member printed	Harriett Baldwin
uin	170593
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>The Financial Advice Market Review (FAMR) final report was published in March 2016, setting out a package of 28 recommendations, which HM Treasury and the FCA have since implemented.</p><p> </p><p>Key pieces of work taken forward as a response to the FAMR recommendations include clarifying the definition of financial advice and introducing the Pension Advice Allowance to allow consumers to withdraw £500 from their pension pots to pay for advice.</p><p> </p><p>In December 2020, the FCA published an evaluation of the 2016 FAMR. This showed that the financial advice market was moving in the right direction, with more people accessing financial advice. However, there are still some remaining policy challenges to help the market work better for consumers, including around helping consumers make better investment decisions.</p><p>As part of the Edinburgh Reforms, the Chancellor committed to working with the FCA to examine the boundary between regulated financial advice and financial guidance, with the objective of improving access to helpful advice, support and information, while maintaining strong protections for consumers.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 27/03/2023 14:30:20 answering member 4874 label Biography information for Andrew Griffith
tabling member	4107 label Biography information for Dame Harriett Baldwin

1605424

registered interest
date	20/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Revenue and Customs: Telephone Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether all callers to HMRC are charged the same rate.
tabling member constituency	Liverpool, Wavertree
tabling member printed	Paula Barker
uin	169422
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>Phone providers set telephone call charges, including for calls to HMRC.</p><p> </p><p>For more information on telephone call charges, please refer to the GOV.UK website here: <a href="https://www.gov.uk/call-charges" target="_blank"><em>https://www.gov.uk/call-charges</em></a><em>.</em></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 27/03/2023 14:10:21 answering member 4399 label Biography information for Victoria Atkins
tabling member	4828 label Biography information for Paula Barker

1605435

registered interest
date	20/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Help to Buy Scheme: Individual Savings Accounts
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made with Cabinet colleagues of the impact of the help to buy ISA scheme on house prices.
tabling member constituency	Weaver Vale
tabling member printed	Mike Amesbury
uin	169416
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>The Help to Buy: ISA’s property price cap of £250,000 for properties outside London (£450,000 within London) allows the Government to target support more precisely at the people the scheme is intended to help. Since its launch in 2015, the scheme has supported 531,507 property completions across the UK, with a mean property value of £176,828 compared with an average first-time buyer house price of £245,350.</p><p>Further information on the Government’s home purchase support schemes can be found at: <a href="https://www.ownyourhome.gov.uk" target="_blank">https://www.ownyourhome.gov.uk</a></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 27/03/2023 14:12:12 answering member 4874 label Biography information for Andrew Griffith
tabling member	4667 label Biography information for Mike Amesbury

1605510

registered interest
date	20/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	3D Printing: Capital Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether investments in 3D printers qualify for full expensing as part of the capital allowances scheme announced in the Spring Budget 2023, HC1183.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	169278
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>Full expensing is available for qualifying expenditure on main rate plant or machinery incurred on or after 1 April 2023 but before 1 April 2026 subject to certain conditions. A 3D printer is a machine so it would be eligible for full expensing provided the other conditions are met. For example, the expenditure must be incurred by a company within the charge to corporation tax, the plant or machinery must be new, and must not be bought to lease to someone else. More details on the conditions for full expensing are available at the following link: <a href="https://www.gov.uk/government/publications/full-expensing" target="_blank"><em>https://www.gov.uk/government/publications/full-expensing</em></a><em>.</em></p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 27/03/2023 09:08:02 answering member 4399 label Biography information for Victoria Atkins
tabling member	4124 label Biography information for Chi Onwurah

1605679

registered interest
date	20/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the SME lending proposals in the PRA Consultation CP 16/22 on the Implementation of the Basel 3.1 standards, what assessment he has made of the potential impact of those standards on the supply of funding available to SMEs in (a) the UK and (b) Shipley constituency.
tabling member constituency	Shipley
tabling member printed	Philip Davies
uin	169234
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>The Government is currently consulting on its proposals for Basel 3.1. This includes proposals for deleting retained EU law including those which relate to the prudential rules on SME lending. The detailed implementation of the Basel package however, has been delegated to the Prudential Regulation Authority (PRA) as the UK’s expert regulator. The PRA is consulting under an accountability framework agreed by Parliament, and has requested information from firms on specific measures including those relating to lending to SMEs.</p><p> </p><p>The consultation can be found here:</p><p><a href="https://www.bankofengland.co.uk/prudential-regulation/publication/2022/november/implementation-of-the-basel-3-1-standards" target="_blank">https://www.bankofengland.co.uk/prudential-regulation/publication/2022/november/implementation-of-the-basel-3-1-standards</a></p><p> </p><p>The Government continues to work closely with the PRA and businesses to understand the impact of potential changes including for the international competitiveness of the UK, the impact on SME lending and the nature of competition between banks that operate in the domestic market.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 169235 169236 169237 question first answered 27/03/2023 14:08:18 answering member 4874 label Biography information for Andrew Griffith
tabling member	1565 label Biography information for Sir Philip Davies

1605680

registered interest
date	20/03/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Small Businesses: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions his Department has had with the (a) Bank of England, (b) Prudential Regulation Authority and (c) Financial Conduct Authority on the potential impact of removing the support factor for SME lending.
tabling member constituency	Shipley
tabling member printed	Philip Davies
uin	169235
answer	answer is ministerial correction date of answer 27/03/2023 answer text <p>The Government is currently consulting on its proposals for Basel 3.1. This includes proposals for deleting retained EU law including those which relate to the prudential rules on SME lending. The detailed implementation of the Basel package however, has been delegated to the Prudential Regulation Authority (PRA) as the UK’s expert regulator. The PRA is consulting under an accountability framework agreed by Parliament, and has requested information from firms on specific measures including those relating to lending to SMEs.</p><p> </p><p>The consultation can be found here:</p><p><a href="https://www.bankofengland.co.uk/prudential-regulation/publication/2022/november/implementation-of-the-basel-3-1-standards" target="_blank">https://www.bankofengland.co.uk/prudential-regulation/publication/2022/november/implementation-of-the-basel-3-1-standards</a></p><p> </p><p>The Government continues to work closely with the PRA and businesses to understand the impact of potential changes including for the international competitiveness of the UK, the impact on SME lending and the nature of competition between banks that operate in the domestic market.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 169234 169236 169237 question first answered 27/03/2023 14:08:18 answering member 4874 label Biography information for Andrew Griffith
tabling member	1565 label Biography information for Sir Philip Davies