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1156364

registered interest
date	25/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services Ombudsman
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 ensure that the Financial Services Ombudsman has adequate resources to (a) conduct thorough investigations and (b) deliver timely decisions on cases.
tabling member constituency	Bristol West
tabling member printed	Thangam Debbonaire
uin	5460
answer	answer is ministerial correction date of answer 30/10/2019 answer text <p>Under the Financial Services and Markets Act 2000, the Financial Conduct Authority (FCA) is required to take such steps as are necessary to ensure that the Financial Ombudsman Service (FOS) is capable of exercising its functions, including approving the FOS’s annual budget. Furthermore, the FOS is subject to statutory audit by the National Audit Office and must publish reports of determinations.</p><p> </p><p>The FOS and the FCA are operationally independent of Government.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/10/2019 13:37:42 answering member 4051 label Biography information for John Glen
tabling member	4433 label Biography information for Thangam Debbonaire

1156372

registered interest
date	25/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mineworkers' Pension Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, by what date his Department plans to implement proposals of the Mineworkers' Pensions Scheme on the long-term protection of pension bonuses for members of that Scheme.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	5421
answer	answer is ministerial correction date of answer 30/10/2019 answer text <p>A decision on the changes has been taken and we will communicate this to interested parties shortly.</p> answering member constituency Richmond (Yorks) answering member printed Rishi Sunak question first answered 30/10/2019 10:20:31 answering member 4483 label Biography information for Rishi Sunak
tabling member	3928 label Biography information for Nick Smith

1156404

registered interest
date	25/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Offshore Funds
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many bank accounts are held offshore by (a) central Government, (b) local government and (c) Government controlled companies.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	5470
answer	answer is ministerial correction date of answer 30/10/2019 answer text <p>HM Treasury continues to monitor the value of funds held outside the Exchequer through regular disclosures made by government departments. These returns include funds held in offshore bank accounts.</p><p> </p><p>Managing Public Money sets out that it is the responsibility of the organisation’s accounting officer, working with internal and external auditors, to ensure that the appropriate financial controls are in place and that the use of all banking services complies with relevant laws and regulations.</p><p> </p><p>Information on the specific number of offshore bank accounts held by central Government, local government and Government-controlled companies is currently not available and could only be provided at a disproportionate cost.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 5471 5472 question first answered 30/10/2019 13:41:13 answering member 4051 label Biography information for John Glen
tabling member	4518 label Biography information for Tulip Siddiq

1156405

registered interest
date	25/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Offshore Funds
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what work his Department (a) has undertaken in the last two years and (b) plans to undertake to strengthen the (i) rules on and (ii) transparency of the use of offshore banking by government.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	5471
answer	answer is ministerial correction date of answer 30/10/2019 answer text <p>HM Treasury continues to monitor the value of funds held outside the Exchequer through regular disclosures made by government departments. These returns include funds held in offshore bank accounts.</p><p> </p><p>Managing Public Money sets out that it is the responsibility of the organisation’s accounting officer, working with internal and external auditors, to ensure that the appropriate financial controls are in place and that the use of all banking services complies with relevant laws and regulations.</p><p> </p><p>Information on the specific number of offshore bank accounts held by central Government, local government and Government-controlled companies is currently not available and could only be provided at a disproportionate cost.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 5470 5472 question first answered 30/10/2019 13:41:13 answering member 4051 label Biography information for John Glen
tabling member	4518 label Biography information for Tulip Siddiq

1156084

registered interest
date	24/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Alpha 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 effect on Alpha insurance customers of the decision by the Financial Services Compensation Scheme to award only premium insurance refunds to those people following the bankruptcy of that company.
tabling member constituency	North Devon
tabling member printed	Peter Heaton-Jones
uin	5079
answer	answer is ministerial correction date of answer 29/10/2019 answer text <p>The Financial Services Compensation Scheme (FSCS) protects customers when a financial services firm fails, and is independent from government and industry. It is accountable to both the Financial Conduct Authority and Prudential Regulation Authority for the effective operation of the scheme.</p><p> </p><p>Her Majesty’s Treasury has conducted no formal assessment of the effect on the customers of Alpha insurance of the decision taken by the FSCS to award return of premium refunds following its insolvency. The rules setting out the operation of the scheme allow for premium refund compensation, where a suitable replacement provider cannot be found to take on the policies of an insolvent firm.</p> answering member constituency Salisbury answering member printed John Glen question first answered 29/10/2019 13:37:17 answering member 4051 label Biography information for John Glen
tabling member	4524 label Biography information for Peter Heaton-Jones

1156088

registered interest
date	24/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Taxation: Electronic Government
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessments were undertaken on the negative effects on smaller, rural businesses of Making Tax Digital.
tabling member constituency	Romsey and Southampton North
tabling member printed	Caroline Nokes
uin	4989
answer	answer is ministerial correction date of answer 31/10/2019 answer text <p>By 24 October 2019 over 1.25 million businesses had joined the new MTD service and over 1.75 million VAT returns had been successfully submitted using MTD-compatible software.</p><p> </p><p>HM Revenue and Customs (HMRC) have worked with and taken feedback from stakeholders including Defra and the National Farmers’ Union, to help shape the design and to understand the impact of the MTD service. An assessment of the impact on smaller, rural businesses is included within the wider Impact Assessment.</p><p> </p><p>Broadband connectivity was presented as a particular challenge for some rural communities. The Government has committed more than £1 billion for the next generation of digital infrastructure, with the Chancellor recently announcing a £5 billion commitment to fund gigabit-capable (speeds of 1,000Mbps&gt;) deployment in the hardest to reach 20% of UK premises. This will close the digital divide and ensure rural areas are not left behind.</p><p> </p><p>Those that cannot go digital are already not required to join MTD.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 31/10/2019 15:59:24 answering member 3991 label Biography information for Jesse Norman
tabling member	4048 label Biography information for Caroline Nokes

1156093

registered interest
date	24/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cars: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment has been made of the effect on the car industry of changes to car finance loan terms following the publication of the FCA's March 2019 report entitled Our work on motor finance - final findings.
tabling member constituency	Hornsey and Wood Green
tabling member printed	Catherine West
uin	5078
answer	answer is ministerial correction date of answer 29/10/2019 answer text <p>On 1 April 2014 the Government transferred regulatory responsibility for the consumer credit market, including motor finance products, from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA). The Government has given the FCA robust powers to protect consumers and supports the work undertaken by the FCA to reduce consumer harm in this sector.</p><p> </p><p>In March 2019 the FCA released the report: <em>Our work on motor finance – final findings</em>. In their report, the FCA expressed concern about the extent to which broker discretion is allowed over interest rates in certain commission structures and said that they are considering possible responses, such as strengthening existing provisions and banning certain commission structures.</p><p> </p><p>As required by the Financial Services and Markets Act 2000 (FSMA), the FCA must undertake detailed cost benefit analysis of their proposals. This assessment was published in October 2019 as part of their ongoing consultation on changes to the rules governing the motor finance industry.</p> answering member constituency Salisbury answering member printed John Glen question first answered 29/10/2019 10:43:05 answering member 4051 label Biography information for John Glen
tabling member	4523 label Biography information for Catherine West

1156151

registered interest
date	24/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Coinage
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether work has commenced on minting the 50 pence coin to mark the UK's exit from the EU.
tabling member constituency	Wakefield
tabling member printed	Mary Creagh
uin	4962
answer	answer is ministerial correction date of answer 29/10/2019 answer text <p>The Royal Mint has paused production of the coin to mark the UK’s exit from the EU.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 29/10/2019 13:47:34 answering member 4051 label Biography information for John Glen
tabling member	1579 label Biography information for Mary Creagh

1156167

registered interest
date	24/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, which (a) projects and (b) schemes in Northern Ireland were funded in (a) part and (b) in whole by financial transactions capital since 2012-13; and what the chargeable interest rate was for that funding.
tabling member constituency	Belfast East
tabling member printed	Gavin Robinson
uin	5032
answer	answer is ministerial correction date of answer 29/10/2019 answer text <p>I refer the Honourable Member to the response to PQ UIN 4378 on 28 October 2019.</p> answering member constituency Richmond (Yorks) answering member printed Rishi Sunak grouped question UIN 5033 question first answered 29/10/2019 13:39:36 answering member 4483 label Biography information for Rishi Sunak
tabling member	4360 label Biography information for Gavin Robinson

1156168

registered interest
date	24/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the allocation of financial transactions capital, what the average approval time was for an application in Northern Ireland.
tabling member constituency	Belfast East
tabling member printed	Gavin Robinson
uin	5033
answer	answer is ministerial correction date of answer 29/10/2019 answer text <p>I refer the Honourable Member to the response to PQ UIN 4378 on 28 October 2019.</p> answering member constituency Richmond (Yorks) answering member printed Rishi Sunak grouped question UIN 5032 question first answered 29/10/2019 13:39:36 answering member 4483 label Biography information for Rishi Sunak
tabling member	4360 label Biography information for Gavin Robinson