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1121732

registered interest
date	18/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	House Insurance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the 10 April 2019 Insurance Age article entitled Citizens Advice slams home insurers in dual pricing report, what assessment he has made of the implications for his Department's policies of the finding that home insurance companies make over half of their profits from people defined by the regulator as potentially vulnerable.
tabling member constituency	Newcastle-under-Lyme
tabling member printed	Paul Farrelly
uin	245669
answer	answer is ministerial correction date of answer 25/04/2019 answer text <p>The Government is focussed on ensuring that the insurance industry functions well for everyone.</p><p> </p><p>To that end, Government welcomed the launch of the FCA’s General Insurance Pricing Practices Market Study in October 2019. The Market Study is investigating consumer outcomes from insurers’ pricing practices; it is looking specifically at the potential harm suffered by the vulnerable long-standing customers that Citizens Advice refers to in its press release of 10 April 2019. As a part of the Market Study the FCA will consider all potential remedies that may be required to make the market work well for consumers.</p><p> </p><p>The FCA is empowered to address misconduct, and where this has occurred it can undertake investigations and impose financial penalties or order firms to cease certain activities.</p><p> </p><p>The Government is monitoring the outcome of this Market Study and is prepared to ask the FCA to take further action if required.</p> answering member constituency Salisbury answering member printed John Glen question first answered 25/04/2019 08:49:18 answering member 4051 label Biography information for John Glen
tabling member	1436 label Biography information for Paul Farrelly

1121737

registered interest
date	18/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Embassies: China
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions he has had with the Foreign Secretary on the cost to the public purse of the proposed new embassy building in Beijing.
tabling member constituency	Bishop Auckland
tabling member printed	Helen Goodman
uin	245696
answer	answer is ministerial correction date of answer 25/04/2019 answer text <p>The Foreign Secretary is responsible for developing plans to re-build the embassy and residence in Beijing. These plans, including the estimated costs, are subject to standard HM Treasury spending controls and approval.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 25/04/2019 11:03:23 answering member 4097 label Biography information for Elizabeth Truss
tabling member	1484 label Biography information for Helen Goodman

1121893

registered interest
date	18/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	NHS: Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of the Prime Minister of 3 April 2019, Official Report, column 1023, what discussions his officials have had with officials of the Department of Health and Social Care on the NHS pension scheme and the tapered annual allowance; and if he will make a statement.
tabling member constituency	Kilmarnock and Loudoun
tabling member printed	Alan Brown
uin	245885
answer	answer is ministerial correction date of answer 29/04/2019 answer text <p>As the Prime Minister said at PMQs on 3 April 2019, we are in discussion with the Department of Health and Social Care about concerns raised by doctors in the NHS pension scheme. It is not the Government’s practice to provide details of ongoing internal discussions. The Government keeps the impact of all public sector pay and pensions policies under constant review, taking account of total reward and fiscal considerations.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 29/04/2019 09:39:40 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4470 label Biography information for Alan Brown

1122007

registered interest
date	18/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Help to Buy Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the timeframe is for new customers to apply for a Help To Buy ISA.
tabling member constituency	Hove
tabling member printed	Peter Kyle
uin	245902
answer	answer is ministerial correction date of answer 25/04/2019 answer text <p>The Help to Buy ISA is due to close to new accounts on 30 November 2019. First Time Buyers can therefore open a Help to Buy ISA account up to, and including, that date. Customers will then be able to save into existing accounts until 30 November 2029 and will have until 1 December 2030 to claim the bonus.</p> answering member constituency Salisbury answering member printed John Glen question first answered 25/04/2019 12:58:15 answering member 4051 label Biography information for John Glen
tabling member	4505 label Biography information for Peter Kyle

1122009

registered interest
date	18/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Individual Savings Accounts
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 raise public awareness of the Lifetime ISA.
tabling member constituency	Hove
tabling member printed	Peter Kyle
uin	245903
answer	answer is ministerial correction date of answer 25/04/2019 answer text <p>The Lifetime ISA is a tax-free savings account. Anyone between the ages of 18 and 40 may open an account and, until their 50<sup>th</sup> birthday, may save up to £4,000 each year and receive a 25% government bonus. Savings, including the bonus, can be withdrawn without penalty from age 60, if the saver is terminally ill, or to put towards a first home.</p><p> </p><p>There are currently 21 providers of the Lifetime ISA. As of January 2019, there were 250,000 open accounts on which over £230m has been paid out in bonuses.</p><p> </p><p>The government does not ordinarily promote specific types of ISA. Providers which offer the Lifetime ISA will undertake advertisement and promotion activities in relation to their own products.</p> answering member constituency Salisbury answering member printed John Glen question first answered 25/04/2019 12:56:12 answering member 4051 label Biography information for John Glen
tabling member	4505 label Biography information for Peter Kyle

1122050

registered interest
date	18/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: EU Law
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the Government's ministerial equivalents and exemption directions in financial services for the (a) EU and (b) EEA, made on 11 April 2019 are a result of discussions with the EU on the EU's forthcoming equivalents and exemption directions.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	245571
answer	answer is ministerial correction date of answer 25/04/2019 answer text <p>The Equivalence Directions made with respect to EU-adopted International Financial Reporting Standards (EU IFRS) deliver a commitment made by HM Treasury in November 2018. In the explanatory information for the Draft Official Listing of Securities, Prospectus and Transparency (Amendment) (EU Exit) Regulations 2019, published in November 2018, HM Treasury signalled its intention, in a no-deal scenario, to issue an equivalence decision with respect to EU IFRS in time for Exit day. This will ensure that issuers of securities in European Economic Area (EEA) states can continue to use EU IFRS to prepare financial statements for Transparency Directive requirements, and for the purposes of preparing a prospectus under the Prospectus Directive.</p><p> </p><p>HM Treasury and the EU have decided to provide exemptions for central banks and certain public bodies under specific financial services regulations in the event that the UK withdraws from the EU without an agreement. This decision, in the Exemption Directions made with respect to EU bodies, was taken as a result of an exchange of letters between HM Treasury and the EU Commission specifically on this matter in January 2019.</p><p> </p><p>HM Treasury and the EEA European Free Trade Association (EEA EFTA) countries of Norway, Iceland and Liechtenstein have decided to provide exemptions for central banks and certain public bodies under specific financial services regulations in the event that the UK withdraws from the EU without an agreement. This decision, in the Exemption Directions made with respect to EEA bodies, was taken as a result of an exchange of letters between HM Treasury and the EEA EFTA countries specifically on this matter in April 2019.</p><p> </p><p>Both sets of exemptions are important for avoiding disruption to the financial services sector, and the businesses and individuals relying on it, in the event that the United Kingdom withdraws from the European Union without an agreement.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 245572 245573 question first answered 25/04/2019 13:05:36 answering member 4051 label Biography information for John Glen
tabling member	178 label Biography information for John McDonnell

1122055

registered interest
date	18/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: EU Law
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions the Government has had with European Commission officials on the ministerial equivalents and exemption directions in financial services for the (a) EU and (b) EEA made on 11 April 2019.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	245572
answer	answer is ministerial correction date of answer 25/04/2019 answer text <p>The Equivalence Directions made with respect to EU-adopted International Financial Reporting Standards (EU IFRS) deliver a commitment made by HM Treasury in November 2018. In the explanatory information for the Draft Official Listing of Securities, Prospectus and Transparency (Amendment) (EU Exit) Regulations 2019, published in November 2018, HM Treasury signalled its intention, in a no-deal scenario, to issue an equivalence decision with respect to EU IFRS in time for Exit day. This will ensure that issuers of securities in European Economic Area (EEA) states can continue to use EU IFRS to prepare financial statements for Transparency Directive requirements, and for the purposes of preparing a prospectus under the Prospectus Directive.</p><p> </p><p>HM Treasury and the EU have decided to provide exemptions for central banks and certain public bodies under specific financial services regulations in the event that the UK withdraws from the EU without an agreement. This decision, in the Exemption Directions made with respect to EU bodies, was taken as a result of an exchange of letters between HM Treasury and the EU Commission specifically on this matter in January 2019.</p><p> </p><p>HM Treasury and the EEA European Free Trade Association (EEA EFTA) countries of Norway, Iceland and Liechtenstein have decided to provide exemptions for central banks and certain public bodies under specific financial services regulations in the event that the UK withdraws from the EU without an agreement. This decision, in the Exemption Directions made with respect to EEA bodies, was taken as a result of an exchange of letters between HM Treasury and the EEA EFTA countries specifically on this matter in April 2019.</p><p> </p><p>Both sets of exemptions are important for avoiding disruption to the financial services sector, and the businesses and individuals relying on it, in the event that the United Kingdom withdraws from the European Union without an agreement.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 245571 245573 question first answered 25/04/2019 13:05:36 answering member 4051 label Biography information for John Glen
tabling member	178 label Biography information for John McDonnell

1122057

registered interest
date	18/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: EU Law
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the Government received representations from the European Commission on the Government's ministerial equivalents and exemption directions in financial services for the EU and EEA, made on 11 April 2019.
tabling member constituency	Hayes and Harlington
tabling member printed	John McDonnell
uin	245573
answer	answer is ministerial correction date of answer 25/04/2019 answer text <p>The Equivalence Directions made with respect to EU-adopted International Financial Reporting Standards (EU IFRS) deliver a commitment made by HM Treasury in November 2018. In the explanatory information for the Draft Official Listing of Securities, Prospectus and Transparency (Amendment) (EU Exit) Regulations 2019, published in November 2018, HM Treasury signalled its intention, in a no-deal scenario, to issue an equivalence decision with respect to EU IFRS in time for Exit day. This will ensure that issuers of securities in European Economic Area (EEA) states can continue to use EU IFRS to prepare financial statements for Transparency Directive requirements, and for the purposes of preparing a prospectus under the Prospectus Directive.</p><p> </p><p>HM Treasury and the EU have decided to provide exemptions for central banks and certain public bodies under specific financial services regulations in the event that the UK withdraws from the EU without an agreement. This decision, in the Exemption Directions made with respect to EU bodies, was taken as a result of an exchange of letters between HM Treasury and the EU Commission specifically on this matter in January 2019.</p><p> </p><p>HM Treasury and the EEA European Free Trade Association (EEA EFTA) countries of Norway, Iceland and Liechtenstein have decided to provide exemptions for central banks and certain public bodies under specific financial services regulations in the event that the UK withdraws from the EU without an agreement. This decision, in the Exemption Directions made with respect to EEA bodies, was taken as a result of an exchange of letters between HM Treasury and the EEA EFTA countries specifically on this matter in April 2019.</p><p> </p><p>Both sets of exemptions are important for avoiding disruption to the financial services sector, and the businesses and individuals relying on it, in the event that the United Kingdom withdraws from the European Union without an agreement.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 245571 245572 question first answered 25/04/2019 13:05:36 answering member 4051 label Biography information for John Glen
tabling member	178 label Biography information for John McDonnell

1121347

registered interest
date	11/04/2019
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 recent discussions he has had with the Financial Conduct Authority on the planned timeframe for the publication of a report on the second phase of its investigation into the Royal Bank of Scotland's Global Restructuring Group.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	244146
answer	answer is ministerial correction date of answer 23/04/2019 answer text <p>On 31 July 2018, the Financial Conduct Authority (FCA) announced it would publish a fuller account of its findings following the conclusion of its investigation into the Royal Bank of Scotland’s Global Restructuring Group.</p><p> </p><p>The FCA is an independent non-governmental body. In view of this independence, it would not be appropriate for the Government to comment on the timeframe for the publication of the FCA’s findings.</p><p> </p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 23/04/2019 13:04:47 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1121360

registered interest
date	11/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Savings: Older People
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 encourage the elderly to accrue personal savings.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	244002
answer	answer is ministerial correction date of answer 23/04/2019 answer text <p>The Government is committed to supporting people of all incomes and at all stages of life to save.</p><p> </p><p>Older people will continue to benefit from a number of measures this Government has introduced in recent years.</p><p> </p><p>The amount of money that people can save into their ISAs each year (the annual subscription allowance) has been increased to a record £20,000.</p><p> </p><p>Since April 2016, individuals have also been able to benefit from a new Personal Savings Allowance of up to £1,000 for basic rate taxpayers and up to £500 for higher rate taxpayers.</p><p> </p><p>As a result of these measures, over 95% of people with savings income pay no tax on that income.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/04/2019 13:07:19 answering member 4051 label Biography information for John Glen
tabling member	163 label Biography information for Sir Stephen Timms