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1151810

registered interest
date	23/10/2019
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 his Department has requested approval from the Privy Council for the minting of 50 pence coins to mark the UK's exit from the EU.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	4341
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The Queen, on the advice of the Privy Council, confirmed by Proclamation on 11 October 2019 that the coin to mark the UK’s withdrawal from the European Union shall be legal tender.</p> answering member constituency Salisbury answering member printed John Glen question first answered 28/10/2019 14:11:12 answering member 4051 label Biography information for John Glen
tabling member	4518 label Biography information for Tulip Siddiq

1151812

registered interest
date	23/10/2019
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, how much has been spent by his Department on the minting of coins to mark the UK's exit from the EU; and how many of those coins are in circulation.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	4342
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>Any coins issued into circulation will meet existing demand for 50ps. There is no additional cost in minting coins with one design over another.</p><p> </p><p>The coin to mark the UK’s exit from the EU will enter circulation following our departure.</p> answering member constituency Salisbury answering member printed John Glen question first answered 28/10/2019 14:12:52 answering member 4051 label Biography information for John Glen
tabling member	4518 label Biography information for Tulip Siddiq

1151863

registered interest
date	23/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Off-payroll Working
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 pay rates of the roll-out of the off-payroll rules.
tabling member constituency	Derby North
tabling member printed	Chris Williamson
uin	4307
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The off-payroll working rules (sometimes known as IR35) have been in place since 2000. They are designed to ensure that individuals working like employees pay broadly the same amount of tax and NICs, regardless of the structure they work through. They do not affect the self-employed.</p><p> </p><p>In 2017 the Government reformed the way the rules operate in the public sector in order to address widespread non-compliance. Evidence shows that compliance is improving, without reducing the flexibility of the labour market.</p><p> </p><p>Budget 2018 announced that the reform would be extended to all sectors, but not until April 2020, giving businesses more time to prepare. The Government has consulted extensively on the reform and HMRC are rolling out guidance as well as an education and support programme.</p><p> </p><p>On 11 July 2019, HMRC published a Tax Information and Impact Note setting out the costs to business and individuals of the reform. This can be found here: <a href="https://www.gov.uk/government/publications/rules-for-off-payroll-working-from-april-2020/rules-for-off-payroll-working-from-april-2020" target="_blank">https://www.gov.uk/government/publications/rules-for-off-payroll-working-from-april-2020/rules-for-off-payroll-working-from-april-2020</a>.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 28/10/2019 13:49:39 answering member 3991 label Biography information for Jesse Norman
tabling member	3976 label Biography information for Chris Williamson

1151918

registered interest
date	23/10/2019
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, what assessment he has made of the effectiveness of the regulation in the cryptocurrencies in the UK; and if he will make a statement.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	4242
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The Cryptoassets Taskforce, consisting of HM Treasury, the Bank of England and the Financial Conduct Authority (FCA), published its report in October 2018. It concluded that strong action should be taken to address the risks associated with cryptoassets that fall within existing regulatory frameworks, and that further consultation and international coordination is required for those cryptoassets that pose new challenges to traditional forms of financial regulation, and fall outside the existing regulatory framework.</p><p> </p><p>Since the report, the FCA has consulted and issued final guidance on the regulatory perimeter in relation to cryptoassets, and HMT has consulted on the transposition of the 5th Anti-Money Laundering Directive (5AMLD), which will bring cryptoasset exchanges and custodian wallet providers within the scope of anti-money laundering and counter-terrorist financing regulation.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 28/10/2019 14:03:09 answering member 4051 label Biography information for John Glen
tabling member	116 label Biography information for Lord Soames of Fletching

1151929

registered interest
date	23/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Stamp Duty Land Tax: Foreign Nationals
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 22 October 2019 to Question 1587 on Sleeping Rough, if he will make an estimate of the funding that would be raised for tackling rough sleeping under a Stamp Duty Land Tax surcharge of (a) 1 and (b) 3 per cent on non-UK residents buying residential property in England and Northern Ireland.
tabling member constituency	Vale of Clwyd
tabling member printed	Chris Ruane
uin	4282
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The Government has previously announced that the non-resident Stamp Duty Land Tax (SDLT) surcharge will be set at 1%. A costing for how much the surcharge will raise will be produced at a future fiscal event once the final design of the surcharge has been confirmed. This costing will follow the usual process for analysing the revenue impacts of new tax measures, including being subject to scrutiny from the Office for Budget Responsibility.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 3582 question first answered 28/10/2019 13:57:48 answering member 3991 label Biography information for Jesse Norman
tabling member	534 label Biography information for Chris Ruane

1151935

registered interest
date	23/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Stamp Duty Land Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many and what proportion of stamp duty land tax returns filed from 31 October 2017 to June 2019 included a (a) claim for group relief, (b) non-residential property, (c) purchaser whose registered office address was in Luxembourg and (d) vendor whose registered office address was not in Luxembourg.
tabling member constituency	Walthamstow
tabling member printed	Stella Creasy
uin	4312
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The number and proportion of stamp duty land tax returns filed from 31 October 2017 to June 2019 is not readily available.</p><p> </p><p>Estimates for group relief are only available on an annual basis. The source is the structural tax reliefs publication which is available using the following link:</p><p><a href="https://www.gov.uk/government/statistics/minor-tax-expenditures-and-structural-reliefs" target="_blank">https://www.gov.uk/government/statistics/minor-tax-expenditures-and-structural-reliefs</a></p><p> </p><p>Estimates for non-residential property transactions are available on a quarterly basis so data can only be provided for the period from September 2017 to June 2019. The source is the Quarterly Stamp Duty Land Tax Statistics which is available using the following link:</p><p><a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/821607/Quarterly_SDLT_2019Q2_Main.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/821607/Quarterly_SDLT_2019Q2_Main.pdf</a></p><p> </p><p>Estimates of the number of transactions by the country where the registered office for either purchaser(s) or vendor(s) lie have not been made, and are not readily available.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 28/10/2019 14:31:05 answering member 3991 label Biography information for Jesse Norman
tabling member	4088 label Biography information for Stella Creasy

1151984

registered interest
date	23/10/2019
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 recent discussions he has had with the Financial Conduct Authority on affordability in the car finance market.
tabling member constituency	Hornsey and Wood Green
tabling member printed	Catherine West
uin	4435
answer	answer is ministerial correction date of answer 28/10/2019 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>On 15th October, the Financial Conduct Authority (FCA) published a consultation paper outlining its proposed reforms in the motor finance market. This follows the FCA’s review into the motor finance market which concluded in March 2019. These proposals included banning certain types of commission models which incentivise credit brokers to increase the interest rate on motor finance.</p><p> </p><p> </p><p>The paper is available at the following link: https://www.fca.org.uk/publications/consultation-papers/cp19-28-motor-finance-discretionary-commission-models-and-consumer-credit-commission-disclosure</p><p> </p>Treasury ministers and officials meet regularly with the FCA, and the Government will continue to work closely with the FCA to ensure all customers are treated fairly. answering member constituency Salisbury answering member printed John Glen question first answered 28/10/2019 14:29:11 answering member 4051 label Biography information for John Glen
tabling member	4523 label Biography information for Catherine West

1151985

registered interest
date	23/10/2019
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 steps the Government is taking to ensure lenders in the motor finance sector comply with FCA rules on assessing (a) creditworthiness and (b) affordability before offering car finance loans.
tabling member constituency	Hornsey and Wood Green
tabling member printed	Catherine West
uin	4436
answer	answer is ministerial correction date of answer 28/10/2019 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>On 15th October, the FCA published a consultation paper outlining their proposed reforms in the motor finance market. This follows the FCA’s review into the motor finance market which concluded in March 2019. These proposals included banning certain types of commission models which incentivise credit brokers to increase the interest rate on motor finance.</p><p> </p><p>The paper is available at the following link: https://www.fca.org.uk/publications/consultation-papers/cp19-28-motor-finance-discretionary-commission-models-and-consumer-credit-commission-disclosure</p><p>During its review of the motor finance market, the FCA found that some lenders were not meeting its requirements on assessing creditworthiness by placing undue focus on credit risk rather than on whether the loan was affordable for the borrower.</p><p>As part of the FCA’s follow-up work, individual feedback was provided to lenders on the FCA’s assessment of their checks on customer creditworthiness and affordability. It found that lenders had considered the FCA’s new rules and guidance on assessing creditworthiness in consumer credit which were published in July 2018 and had subsequently made changes to their affordability assessments where necessary.</p><p>The FCA will continue to keep the car finance market under review as part of its ongoing and supervisory work.</p> answering member constituency Salisbury answering member printed John Glen question first answered 28/10/2019 14:18:47 answering member 4051 label Biography information for John Glen
tabling member	4523 label Biography information for Catherine West

1151294

registered interest
date	22/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Infrastructure
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if the Government will make it mandatory for all public infrastructure owners to undertake a should-cost estimate as a reference point, as recommended in the Government's Outsourcing Playbook and endorsed by the Institution of Civil Engineers.
tabling member constituency	Luton North
tabling member printed	Kelvin Hopkins
uin	3517
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The Outsourcing Playbook sets out the Government’s guidance on outsourcing services rather than infrastructure projects. All infrastructure projects are required to estimate costs as part of the Government’s business case process, in accordance with the guidance set out in the Green Book.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 28/10/2019 13:54:43 answering member 3991 label Biography information for Jesse Norman
tabling member	2 label Biography information for Kelvin Hopkins

1151295

registered interest
date	22/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Infrastructure
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps the Government is taking to prevent major infrastructure projects from exceeding their budgets and completion schedules (a) now and (b) in the future.
tabling member constituency	Luton North
tabling member printed	Kelvin Hopkins
uin	3518
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The Infrastructure and Projects Authority (IPA) currently supports the Government Major Projects Portfolio (GMPP). This is a continually evolving portfolio of the Government’s most complex and high risk projects, which monitors and analyses cost, schedule and benefits data on a quarterly basis. Furthermore, each year the IPA undertakes over 200 independent assurance reviews to examine the delivery of GMPP projects.</p><p> </p><p>In April 2019, the Department for Transport and the IPA jointly published the ‘Lessons from transport for the sponsorship of major projects’ report, which identified 24 practical lessons, which will help improve how the Government delivers projects. These lessons will be applied to future projects across Government and used to improve the system over the long-term.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 28/10/2019 13:56:28 answering member 3991 label Biography information for Jesse Norman
tabling member	2 label Biography information for Kelvin Hopkins