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1719419

registered interest
date	20/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Climate Change: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to amend fiscal rules to (a) incentivise and (b) reward spending on climate change mitigation measures.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	27157
answer	answer is ministerial correction date of answer 23/05/2024 answer text <p>The Government is committed to sustainable public finances and delivering on the priority of getting debt falling over the medium-term. To deliver on this priority, the Government has fiscal rules – the rules require underlying debt to be falling and borrowing to be below 3% of GDP in the fifth year of the rolling forecast period. The fiscal rules are comprehensive, and targeting public sector wide measures means the impact of Government decisions on the public finances is clearly reflected.</p><p>The Government is committed to ensuring fiscal decision making is aligned with achieving net zero and our legally binding environmental targets. The Green Book requires departments to assess the climate and environmental impacts of policy proposals, with major bids and proposals at fiscal events assessed according to these impacts, and Spending Review 2021 was developed alongside the Net Zero Strategy to ensure our plans were funded.</p><p>Spending Review 2021 committed £30 billion of domestic investment for the green industrial revolution. Since then, we have committed a further £6 billion for energy efficiency in the next parliament, up to £20 billion of long-term funding for early deployment of carbon capture, usage and storage, and over £1 billion for green industries supply chains through the Green Industries Growth Accelerator.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/05/2024 15:48:59 answering member 4639 label Biography information for Bim Afolami
tabling member	4856 label Biography information for Stephen Farry

1694681

registered interest
date	07/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Household Support Fund: 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 Spring Budget 2024, HC 560, published on 6 March 2024, how much Barnett Consequential funding Northern Ireland will receive from the announcement on the Household Support Fund.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	17710
answer	answer is ministerial correction date of answer 13/03/2024 answer text <p>As a result of decisions at Spring Budget, the Northern Ireland Executive are now receiving around £100 million in additional funding in 2024-25 through the Barnett formula. The next Block Grant Transparency publication will include a breakdown of the Barnett consequentials for the Northern Ireland Executive from Spring Budget 2024. It is for the Northern Ireland Executive to allocate their resources in devolved areas as they see fit.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 13/03/2024 12:18:05 answering member 4780 label Biography information for Laura Trott
tabling member	4856 label Biography information for Stephen Farry

1693654

registered interest
date	04/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Integrated 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 an assessment of the potential merits of reversing the decision to reprofile Fresh Start Funding.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	17015
answer	answer is ministerial correction date of answer 12/03/2024 answer text <p>The UK Government is providing the Northern Ireland Executive with a comprehensive £3.3 billion spending settlement.</p><p>Within this package, the Government is providing the Northern Ireland Executive with £708 million RDEL to support public services over five years from 2024-25 to 2028-29. This is comprised of £85 million new funding and un-ringfencing £623 million of existing Northern Ireland funding streams.</p><p>Within the £708 million, £235 million is ringfenced for transformation and its release is subject to the establishment of a Public Service Transformation Board. The remaining £473 million is un-ringfenced. This means the Executive can choose how to use the funding for its priorities, including continuing projects.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 12/03/2024 16:40:13 answering member 4780 label Biography information for Laura Trott
tabling member	4856 label Biography information for Stephen Farry

1683059

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Millennium Integrated Primary School: Construction
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether Fresh Start Funding has been awarded for construction of the Millennium Integrated Primary School new build project.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	10270
answer	answer is ministerial correction date of answer 24/01/2024 answer text <p>At Main Estimates 2023-24, the Northern Ireland Executive was provided with £64.4 million of capital funding under the Fresh Start Agreement. Any additional Fresh Start Agreement funding in 2023-24 for the Northern Ireland Executive would be confirmed through the Supplementary Estimates process that is ongoing.</p><p> </p><p>Funding for individual projects is administered by the Northern Ireland Executive’s Department of Education.</p><p><strong> </strong></p><p><strong> </strong></p> answering member constituency Sevenoaks answering member printed Laura Trott grouped question UIN 10271 question first answered 24/01/2024 10:19:17 answering member 4780 label Biography information for Laura Trott
tabling member	4856 label Biography information for Stephen Farry

1683060

registered interest
date	17/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Integrated Schools: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when funds will be available from Fresh Start Funding for financial year 2023-24; and what funds are available to the Northern Ireland Department of Finance from that scheme in 2023-24.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	10271
answer	answer is ministerial correction date of answer 24/01/2024 answer text <p>At Main Estimates 2023-24, the Northern Ireland Executive was provided with £64.4 million of capital funding under the Fresh Start Agreement. Any additional Fresh Start Agreement funding in 2023-24 for the Northern Ireland Executive would be confirmed through the Supplementary Estimates process that is ongoing.</p><p> </p><p>Funding for individual projects is administered by the Northern Ireland Executive’s Department of Education.</p><p><strong> </strong></p><p><strong> </strong></p> answering member constituency Sevenoaks answering member printed Laura Trott grouped question UIN 10270 question first answered 24/01/2024 10:19:17 answering member 4780 label Biography information for Laura Trott
tabling member	4856 label Biography information for Stephen Farry

1672717

registered interest
date	23/11/2023
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, what the Barnett consequentials are for Northern Ireland following the announcements for additional funding for (a) housing associations through the Affordable Homes Guarantee Scheme and (b) the third round of the Local Authority Housing Fund in the Autumn Statement 2023.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	3558
answer	answer is ministerial correction date of answer 30/11/2023 answer text <p>As a result of announcements made at Autumn Statement 2023, the Northern Ireland Executive will receive £185 million through the Barnett formula over 2023-24 and 2024-25.</p><p> </p><p>The Barnett formula determines changes to overall devolved administration block grants and Barnett-based funding is not ringfenced in line with specific programmes.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 30/11/2023 16:00:29 answering member 4780 label Biography information for Laura Trott
tabling member	4856 label Biography information for Stephen Farry

1663356

registered interest
date	13/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Ulster Bank: Interest Rate Hedging Products
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 assessment of the potential merits of providing independent oversight of the review by NatWest into allegations of mis-selling of fixed rate hedging products by Ulster Bank.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	201210
answer	answer is ministerial correction date of answer 18/10/2023 answer text <p>The Government has always been clear that any mis-selling of financial products is completely unacceptable and wrong. However, the allegations of mis-selling of fixed rate hedging or similar products by Ulster Bank are first and foremost a matter for the Financial Conduct Authority (FCA) and it would not be appropriate for the Government to comment at this time.</p><p><strong> </strong></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 18/10/2023 14:06:45 answering member 4874 label Biography information for Andrew Griffith
tabling member	4856 label Biography information for Stephen Farry

1663642

registered interest
date	13/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Social Housing Decarbonisation Fund: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the allocation to Northern Ireland will be from Wave 3 of the Social Housing Decarbonisation Fund.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	201496
answer	answer is ministerial correction date of answer 18/10/2023 answer text <p>At Spending Review 2021, funding was allocated for the Social Housing Decarbonisation Fund to the former Department for Business, Energy and Industrial Strategy and the Barnett formula was applied.</p><p> </p><p>At spending reviews, the Barnett formula is applied to changes in each UK government department’s DEL budget with the Barnett consequentials that arise then added to the devolved administrations’ baseline block grants. Because the Barnett formula is not applied to changes in funding for all the individual programmes within a UK government department’s DEL budget, the Barnett consequentials associated with these individual programmes, such as the Social Housing Decarbonisation Fund, cannot be identified.</p><p> </p><p>At Autumn Statement 2022, the Chancellor announced £6 billion of funding to go towards energy efficiency policies in the next Spending Review period.</p><p> </p><p>All decisions on devolved administration funding beyond the current Spending Review period will be taken at future Spending Reviews.</p> answering member constituency Salisbury answering member printed John Glen question first answered 18/10/2023 08:40:16 answering member 4051 label Biography information for John Glen
tabling member	4856 label Biography information for Stephen Farry

1664213

registered interest
date	13/10/2023
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, what assessment he has made of the impact of changes to the HS2 scheme on Barnett funding for Northern Ireland.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	202066
answer	answer is ministerial correction date of answer 18/10/2023 answer text <p>Funding for the HS2 programme has been provided to the Department for Transport’s (DfT). The Barnett formula has applied changes to the DfT’s budget to date due to funding for the HS2 programme, and the Northern Ireland Executive has received Barnett consequentials as a result.</p><p> </p><p>At spending reviews, the Barnett formula is applied to changes in each UK Government department’s DEL budget with the Barnett consequentials that arise then added to the devolved administrations’ baseline block grants. As the Barnett formula is not applied to changes in funding for all the individual programmes within a UK Government department’s DEL budget, the Barnett consequentials associated with these individual programmes, such as HS2, cannot be identified.</p><p> </p><p>The Barnett formula will continue to apply to future changes to the DfT budget from funding for the HS2 programme.</p> answering member constituency Salisbury answering member printed John Glen question first answered 18/10/2023 14:13:20 answering member 4051 label Biography information for John Glen
tabling member	4856 label Biography information for Stephen Farry

1660823

registered interest
date	14/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Ulster Bank: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential merits of reviewing the use of (a) interest rate hedging and (b) swap-like products in connection with fixed rate loans products by Ulster Bank in Northern Ireland.
tabling member constituency	North Down
tabling member printed	Stephen Farry
uin	199685
answer	answer is ministerial correction date of answer 21/09/2023 answer text <p>In June the High Court granted permission for a legal review of the Financial Conduct Authority’s (FCA’s) handling of the compensation for victims of the mis-selling of Interest Rate Hedging Products (IRHPs). A final hearing is expected to take place in 2024. In the meantime, I hope you can appreciate that it would not be appropriate for the Government to comment on an ongoing legal case.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 21/09/2023 13:52:33 answering member 4874 label Biography information for Andrew Griffith
tabling member	4856 label Biography information for Stephen Farry