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1701800

registered interest
date	17/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies: Regulation
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 help ensure that the new regulatory framework for crypto assets and stablecoins will (a) enhance the UK's global competitiveness in fintech and (b) protect consumers from the volatility and risks associated with digital currencies.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	22360
answer	answer is ministerial correction date of answer 23/04/2024 answer text <ol><li>The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.</li><li>In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.</li><li>As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.</li><li>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.</li></ol> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22361 22362 22363 22364 question first answered 23/04/2024 11:17:55 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701804

registered interest
date	17/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has made an estimate of (a) the role and (b) trends in the value of (i) bitcoin and (ii) other major cryptocurrencies in the economy in the next (A) five and (B) 10 years.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	22364
answer	answer is ministerial correction date of answer 23/04/2024 answer text <ol><li>The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.</li><li>In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.</li><li>As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.</li><li>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.</li></ol> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22360 22361 22362 22363 question first answered 23/04/2024 11:17:55 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701571

registered interest
date	16/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Iran: Israel
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of the conflict between Iran and Israel on (a) global economic stability, (b) oil prices and (c) inflation.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	22107
answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>HM Treasury is monitoring the situation closely following Iran’s attack against Israel. The UK is working urgently with our allies to de-escalate the situation.</p><p> </p><p>The Office for Budget Responsibility (OBR) estimated the potential UK economic impacts of a widening of conflict in the Middle East in their March 2024 Economic and Fiscal Outlook (<a href="https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/" target="_blank">https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/</a> ).</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/04/2024 10:58:32 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1697118

registered interest
date	19/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Motor Vehicles: Exports
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to monitor the end destination of vehicle exports to ensure compliance with international sanctions.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	19430
answer	answer is ministerial correction date of answer 26/03/2024 answer text <p>HMRC is responsible for the civil and criminal enforcement of export controls and trade sanctions which fall within its customs remit. In addition, for certain trade sanctions outside its customs, HMRC enforces under criminal law on referral from a civil enforcement body.</p><p>At UK ports and airports, HMRC in partnership with Border Force carries out targeted risk and intelligence-based checks to ensure traders are compliant with sanction measures and identify breaches.</p><p>HMRC takes breaches of sanctions seriously and undertakes a preliminary investigation into all credible allegations of Trade Sanctions offences.</p><p>Options for tackling breaches of export controls or sanctions range from the issuing of written warnings, through to compound settlements and, in the most serious cases, referral to the UK Prosecution Authorities for consideration of criminal prosecution.</p><p> </p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 26/03/2024 14:56:48 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1696665

registered interest
date	18/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
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 (a) help ensure mortgage rate stability and (b) support the housing market.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	19136
answer	answer is ministerial correction date of answer 25/03/2024 answer text <p>The path to lower interest rates is through low inflation, and the Government is fully committed to supporting the Bank of England get inflation back down to the 2% target, including by keeping borrowing under control.</p><p> </p><p>While the pricing of mortgages is ultimately a commercial decision for lenders in which the Government does not intervene, our plan is working, and the average offered mortgage rates on 2-year and 5-year fixed rates are now lower compared to their peak in Summer 2023. The Government’s Mortgage Charter - in addition to the significant safeguards already in place - is providing support to vulnerable households; and mortgage arrears and repossessions remain low.</p><p> </p><p>Housebuilding is a priority for this Government. At SR21, we demonstrated the Government’s commitment to investing in safe and affordable housing by confirming a settlement of nearly £24 billion up to 2025-26.</p><p> </p><p>In 2022-2023, more than 230,000 net additional dwellings were delivered and government is on track to meet our commitment to deliver one million additional homes across this Parliament.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/03/2024 13:55:48 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1696667

registered interest
date	18/03/2024
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 steps he is taking to ensure that companies in the (a) finance and (b) utility sectors use best practice when collecting debts from vulnerable customers.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	19138
answer	answer is ministerial correction date of answer 25/03/2024 answer text <p>The Government wants to see fair treatment of individuals in problem debt, and there is a range of work underway across government and regulators to promote responsible debt collection practices.</p><p> </p><p>In June 2023 the FCA, Ofgem, Ofwat and Ofcom published a joint letter via the UK Regulators’ Network (UKRN) setting out how firms in their respective sectors should support customers in financial difficulty. On 18 March 2024, the same group of regulators issued further guidance, setting out their shared expectations on firms’ debt collection practices. This is to ensure that firms support customers in debt and that firms’ collection practices are not causing harm to customers.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/03/2024 13:50:26 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1695485

registered interest
date	12/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Insurance
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 impact of changes to National Insurance contributions on incentivising workforce participation (a) generally and (b) among people not currently looking for work.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	18243
answer	answer is ministerial correction date of answer 20/03/2024 answer text <p>The Office for Budget Responsibility provide the official government forecasts. Their estimate of the impact of personal tax policies on work incentives can be found in Box 3.2 of their Economic and Fiscal Outlook – March 2024.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 18244 question first answered 20/03/2024 16:36:20 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1695487

registered interest
date	12/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation
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 impact of changes to personal tax thresholds on incentives to work.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	18244
answer	answer is ministerial correction date of answer 20/03/2024 answer text <p>The Office for Budget Responsibility provide the official government forecasts. Their estimate of the impact of personal tax policies on work incentives can be found in Box 3.2 of their Economic and Fiscal Outlook – March 2024.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 18243 question first answered 20/03/2024 16:36:20 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1694171

registered interest
date	06/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Sanctions: Middle East and North Africa
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential economic impact of boycotts of Western brands in the Middle East and North Africa.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	17419
answer	answer is ministerial correction date of answer 12/03/2024 answer text <p>Boycotts of Western brands in the Middle East and North Africa are unlikely to have a material impact on the UK economy as a whole.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 12/03/2024 12:50:38 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1692990

registered interest
date	01/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages
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 impact of 99% mortgages on house prices; and what steps he is taking to help mitigate that impact.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	16527
answer	answer is ministerial correction date of answer 07/03/2024 answer text <p>The Government regularly assesses data on the UK mortgage and housing market and engages with a range of stakeholders.</p><p>The Government remains committed to supporting people of all incomes and at all stages of life in order to make the aspiration of home ownership a reality for as many households as possible</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 07/03/2024 14:29:45 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi