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1674337

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Policy Committee
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with the Secretary of State for Energy Security and Net Zero on Remit and Recommendations of the Financial Policy Committee of the Bank of England.
tabling member constituency	Bristol East
tabling member printed	Kerry McCarthy
uin	4638
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>HM Treasury ministers have regular discussions with their colleagues across Government on climate change, including on the implementation of the Green Finance Strategy. The breadth of work the Government is doing through the Strategy will reinforce the UK’s status as a leading centre for green finance.</p><p> </p><p>The Chancellor of the Exchequer is responsible for setting the Remit for the Financial Policy Committee (FPC) once per year, and may also make recommendations regarding matters the FPC should consider as relevant to its primary financial stability objective and its secondary objective to support the Government’s economic policy.</p><p> </p><p>The FPC's remit is an important accountability mechanism to ensure the Committee has a clear framework through which it can make policy decisions and consider any trade-offs. This is important given the complexity of the FPC’s work.</p><p> </p><p>Yearly updates to the Remit ensure that it reflects the current economic context, the Government’s policy, as well as the FPC’s responsibilities and powers. Climate change is an important part of the FPC's remit: both due to the relevance of climate related risks to the Committee’s primary financial stability objective, and because increasing long-term energy security and delivering Net Zero are included as key parts of the Government’s economic policy and are therefore relevant to its secondary objective.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 4639 question first answered 05/12/2023 16:28:16 answering member 4639 label Biography information for Bim Afolami
tabling member	1491 label Biography information for Kerry McCarthy

1674338

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Monetary Policy
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to his letters to the Governor of the Bank of England on the Remit and Recommendations for the Financial Policy Committee of 17 November 2022 and 22 November 2023, for what reason the bullet point on climate change and energy security in part C ii of the 2022 Remit and Recommendations is not present in that part of the 2023 Remit and Recommendations.
tabling member constituency	Bristol East
tabling member printed	Kerry McCarthy
uin	4639
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>HM Treasury ministers have regular discussions with their colleagues across Government on climate change, including on the implementation of the Green Finance Strategy. The breadth of work the Government is doing through the Strategy will reinforce the UK’s status as a leading centre for green finance.</p><p> </p><p>The Chancellor of the Exchequer is responsible for setting the Remit for the Financial Policy Committee (FPC) once per year, and may also make recommendations regarding matters the FPC should consider as relevant to its primary financial stability objective and its secondary objective to support the Government’s economic policy.</p><p> </p><p>The FPC's remit is an important accountability mechanism to ensure the Committee has a clear framework through which it can make policy decisions and consider any trade-offs. This is important given the complexity of the FPC’s work.</p><p> </p><p>Yearly updates to the Remit ensure that it reflects the current economic context, the Government’s policy, as well as the FPC’s responsibilities and powers. Climate change is an important part of the FPC's remit: both due to the relevance of climate related risks to the Committee’s primary financial stability objective, and because increasing long-term energy security and delivering Net Zero are included as key parts of the Government’s economic policy and are therefore relevant to its secondary objective.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 4638 question first answered 05/12/2023 16:28:16 answering member 4639 label Biography information for Bim Afolami
tabling member	1491 label Biography information for Kerry McCarthy

1674398

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Closures
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 help prevent the closure of high street banks in rural areas.
tabling member constituency	South Holland and The Deepings
tabling member printed	Sir John Hayes
uin	4617
answer	answer is ministerial correction date of answer 06/12/2023 answer text <p>Decisions on opening and closing branches are taken by the management team of each bank on a commercial basis, with which the Government does not interfere.</p><p> </p><p>Nonetheless, the Government believes that the impact of branch closures should be mitigated where possible so that all customers, wherever they live, continue to have access to appropriate banking services.</p><p> </p><p>The Government supports industry working together to provide alternative banking and cash services, such as Banking Hubs. To date, industry has committed to delivering new shared Banking Hubs in over 100 communities. Further alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking and via the Post Office. The Post Office Banking Framework also allows 99% of personal banking and 95% of business customers to deposit cheques, check their balance and withdraw and deposit cash at more than 11,500 Post Office branches across the UK.</p><p> </p><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches. Firms are expected to carefully consider the impact of a planned closure on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements. This seeks to ensure the implementation of closure decisions is done in a way that treats customers fairly. The Consumer Duty also requires that firms deliver “good outcomes” for customers.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 06/12/2023 13:16:50 answering member 4639 label Biography information for Bim Afolami
tabling member	350 label Biography information for Sir John Hayes

1674403

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Schools: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make it his policy to provide additional funding to the Department of Finance in Northern Ireland to help address RAAC in schools.
tabling member constituency	Belfast South
tabling member printed	Claire Hanna
uin	4755
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>Education is a devolved matter in Northern Ireland.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 05/12/2023 09:26:24 answering member 4780 label Biography information for Laura Trott
tabling member	4827 label Biography information for Claire Hanna

1674422

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Private Equity: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of taxing carried interest at 45 per cent.
tabling member constituency	Ceredigion
tabling member printed	Ben Lake
uin	4689
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>The government believes its approach to the taxation of Carried Interest, which is consistent with that taken in comparable jurisdictions, is a balanced one.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 05/12/2023 11:43:40 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4630 label Biography information for Ben Lake

1674423

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bus Services: Wales
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the Written Ministerial Statement of 23 October 2023 entitled Bus Funding Update, HCWS1084, how much Barnett consequential funding the Welsh government will receive following the increase to the bus service operator grant.
tabling member constituency	Ceredigion
tabling member printed	Ben Lake
uin	4690
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>The Barnett formula will continue to apply in the usual way as set out in the published Statement of Funding Policy document. The Barnett formula is applied when departmental budgets change – not when departments announce how they are spending their budgets.</p><p /><p>The Written Ministerial Statement of 23 October 2023 entitled 'Bus Funding Update’ did not announce additional funding for the Department of Transport. Any additional funding for the Department for Transport will be confirmed in the usual way.</p> answering member constituency Sevenoaks answering member printed Laura Trott grouped question UIN 4691 question first answered 05/12/2023 16:12:51 answering member 4780 label Biography information for Laura Trott
tabling member	4630 label Biography information for Ben Lake

1674424

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bus Services: Wales
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department's fiscal rules require (a) programme and (b) departmental comparability factors to be applied to new funding announcements made outside of a Spending Review; and, with reference to the Written Ministerial Statement of 23 October 2023 entitled Bus Funding Update, HCWS1084, whether the announcement of additional funding for the bus service operators grant programme will have a 100% programme comparability factor applied for Barnett formula consequential funding for Wales.
tabling member constituency	Ceredigion
tabling member printed	Ben Lake
uin	4691
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>The Barnett formula will continue to apply in the usual way as set out in the published Statement of Funding Policy document. The Barnett formula is applied when departmental budgets change – not when departments announce how they are spending their budgets.</p><p /><p>The Written Ministerial Statement of 23 October 2023 entitled 'Bus Funding Update’ did not announce additional funding for the Department of Transport. Any additional funding for the Department for Transport will be confirmed in the usual way.</p> answering member constituency Sevenoaks answering member printed Laura Trott grouped question UIN 4690 question first answered 05/12/2023 16:12:51 answering member 4780 label Biography information for Laura Trott
tabling member	4630 label Biography information for Ben Lake

1674425

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Transport: North of England
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department's fiscal rules require (a) programme and (b) departmental comparability factors to be applied to new spending on projects included in Network North.
tabling member constituency	Ceredigion
tabling member printed	Ben Lake
uin	4692
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>The Barnett formula will continue to apply in the usual way as set out in the published Statement of Funding Policy document. The Barnett formula applies when departmental budgets change, not when departments announce how they are spending those budgets.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 05/12/2023 09:28:05 answering member 4780 label Biography information for Laura Trott
tabling member	4630 label Biography information for Ben Lake

1674509

registered interest
date	30/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts: Cuba
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 22 November (HL158), why they agreed to defer Cuba’s debt repayments in 2021, how much the UK is owed by Cuba as a member of the Group of Creditors of Cuba, and when payment is expected.
tabling member printed	Lord Blencathra
uin	HL754
answer	answer is ministerial correction date of answer 07/12/2023 answer text <p>As outlined in the answer to HL549, the Group of Creditors to Cuba (GCC), including the UK, agreed in 2021 to defer payments due under the 2015 Agreement. This was on the basis of the Republic of Cuba’s economic and financial situation and the Cuban Government’s efforts to support Cuban economic development in the context of Covid-19.</p><p> </p><p>The GCC and Cuba have confirmed their willingness to preserve the 2015 Agreement and commitment to ensure its full implementation. The GCC has not published the terms of implementation.</p> answering member printed Baroness Vere of Norbiton question first answered 07/12/2023 16:06:21 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	497 label Biography information for Lord Blencathra