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1716549

registered interest
date	08/05/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensioners: Income Tax
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 impact of freezing of income tax thresholds on pensioners.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	25174
answer	answer is ministerial correction date of answer 13/05/2024 answer text <p>The Government is committed to ensuring that older people are able to live with the dignity and respect they deserve. The Personal Allowance has nearly doubled since 2010 and is currently set at a level high enough to ensure that those pensioners whose sole income is the full rate of the new State Pension or basic State Pension do not pay any income tax.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 13/05/2024 12:45:09 answering member 4407 label Biography information for Nigel Huddleston
tabling member	491 label Biography information for Dame Angela Eagle

1672170

registered interest
date	22/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Members: Correspondence
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when HMRC plans to respond to the correspondence from the hon. Member for Wallasey of 13 October 2023 on an identity theft matter relating to a tax rebate.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	3129
answer	answer is ministerial correction date of answer 27/11/2023 answer text <p>The correspondence was received in HM Revenue &amp; Customs (HMRC) on 16<sup>th</sup> October 2023.</p><p> </p><p>HMRC apologises for the delay. They replied on 23<sup>rd</sup> November 2023.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 27/11/2023 12:34:42 answering member 4407 label Biography information for Nigel Huddleston
tabling member	491 label Biography information for Dame Angela Eagle

1654627

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when his Department plans to publish the outcome of the consultation entitled Regulation of Buy-Now Pay Later: consultation on draft legislation.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	195335
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The Government’s consultation on proposed draft legislation to bring Buy-Now Pay-Later into regulation closed in April. The Government has been carefully considering stakeholder feedback to this consultation and intends to publish a consultation response in which it will set out next steps, in due course.</p><p> </p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 195336 question first answered 06/09/2023 15:35:58 answering member 4874 label Biography information for Andrew Griffith
tabling member	491 label Biography information for Dame Angela Eagle

1654628

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when his Department plans to lay before Parliament legislative proposals relating to the consultation entitled Regulation of Buy-Now Pay Later: consultation on draft legislation.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	195336
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The Government’s consultation on proposed draft legislation to bring Buy-Now Pay-Later into regulation closed in April. The Government has been carefully considering stakeholder feedback to this consultation and intends to publish a consultation response in which it will set out next steps, in due course.</p><p> </p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 195335 question first answered 06/09/2023 15:35:58 answering member 4874 label Biography information for Andrew Griffith
tabling member	491 label Biography information for Dame Angela Eagle

1563662

registered interest
date	20/12/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	High Income Child Benefit Tax Charge
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, for what reason his Department has decided not to uprate the threshold for the High Income Child Benefit Charge in line with inflation.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	114563
answer	answer is ministerial correction date of answer 11/01/2023 answer text <p>The Government knows that families across the UK are worried about the cost of living. This is why the Government has provided support to households for their energy bills through the £400 Energy Bill Support Scheme, the £150 Council Tax rebate (for households in Council Tax bands A, B, C and D), and the Energy Price Guarantee. The Energy Price Guarantee will be extended until April 2024, and is expected to save the typical household in Great Britain around £500 in 2023-24.</p><p> </p><p>The Government considers that the HICBC threshold of £50,000 remains appropriate.</p><p> </p><p>Nevertheless, on targeted support, in 2023-24, there will be an additional Cost of Living Payment of £900 for those on means-tested benefits, £300 for pensioner households, and £150 for individuals on disability benefits.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 114564 question first answered 11/01/2023 09:11:35 answering member 4051 label Biography information for John Glen
tabling member	491 label Biography information for Dame Angela Eagle

1563663

registered interest
date	20/12/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	High Income Child Benefit Tax Charge
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 effect of not uprating the threshold for the High Income Child Benefit Charge in line with inflation on families during the cost of living crisis.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	114564
answer	answer is ministerial correction date of answer 11/01/2023 answer text <p>The Government knows that families across the UK are worried about the cost of living. This is why the Government has provided support to households for their energy bills through the £400 Energy Bill Support Scheme, the £150 Council Tax rebate (for households in Council Tax bands A, B, C and D), and the Energy Price Guarantee. The Energy Price Guarantee will be extended until April 2024, and is expected to save the typical household in Great Britain around £500 in 2023-24.</p><p> </p><p>The Government considers that the HICBC threshold of £50,000 remains appropriate.</p><p> </p><p>Nevertheless, on targeted support, in 2023-24, there will be an additional Cost of Living Payment of £900 for those on means-tested benefits, £300 for pensioner households, and £150 for individuals on disability benefits.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 114563 question first answered 11/01/2023 09:11:35 answering member 4051 label Biography information for John Glen
tabling member	491 label Biography information for Dame Angela Eagle

1563664

registered interest
date	20/12/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	High Income Child Benefit Tax Charge
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the Government plans to uprate the threshold for the High Income Child Benefit Charge in line with inflation.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	114565
answer	answer is ministerial correction date of answer 09/01/2023 answer text <p>The Government is committed to managing the public finances in a disciplined and responsible way, by targeting support where it is most needed.</p><p> </p><p>The Government considers that the HICBC threshold of £50,000 remains appropriate at the moment. Maintaining the threshold means that the Government supports the majority of families, whilst ensuring the fiscal position remains sustainable.</p><p> </p><p>Nevertheless, the Government knows that families across the UK are worried about the cost of living. This is why the Government has provided support to households for their energy bills through the £400 Energy Bill Support Scheme, the £150 Council Tax rebate (for households in Council Tax bands A, B, C and D), and the Energy Price Guarantee. The Energy Price Guarantee will be extended until April 2024, and is expected to save the typical household in Great Britain around £500 in 2023-24.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/01/2023 16:37:59 answering member 4051 label Biography information for John Glen
tabling member	491 label Biography information for Dame Angela Eagle

1535166

registered interest
date	24/10/2022
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, whether his Department plans to introduce new measures to support mortgage prisoners in response to increases in the (a) base rate and (b) cost of living.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	69530
answer	answer is ministerial correction date of answer 27/10/2022 answer text <p>The Financial Conduct Authority’s (FCA) review into mortgage prisoners, published in November 2021, found that there are 47,000 mortgage prisoners who might benefit from switching to a new mortgage deal but are considered too high risk to do so, despite being up to date with payments.</p><p> </p><p>The review makes clear that the reason mortgage prisoners are unable to switch are varied and complex. As such, there is no silver bullet to address the circumstances of this entire population of mortgage holders without being unfair to other borrowers.</p><p> </p><p>The Government has already worked with the FCA to implement changes to its mortgage lending rules, removing the regulatory barrier that prevented some mortgage prisoners, who otherwise may have been able to switch, from accessing new products. These rules should allow customers to switch to an active lender as long as they meet the lender’s risk appetite and certain criteria, such as not looking to borrow more.</p><p> </p><p>Ultimately, the pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene. As such, the Government cannot force lenders to lend to borrowers that sit outside of their risk appetite.</p><p> </p><p>Any further work on this issue must consider the impact and practicality of solutions and their effects on the wider mortgage market, including the resilience of firms and fairness to other borrowers. There is no evidence, for instance, that consumers have experienced detriment that would be resolved by an extension of the regulatory perimeter. It is also worth noting that the Standard Variable Rates (SVRs) charged by inactive firms are in line with those paid by borrowers in the active market. The Government remains open to practical and proportionate solutions to help mortgage prisoners that do not pose unacceptable financial stability risks, and are not unfair to other borrowers in the mortgage market.</p><p> </p><p>More broadly, the Government understands that people across the UK are worried about the cost of living. That is why we have announced £37 billion of support for the cost of living this financial year. We have also taken decisive action to support millions of households with rising energy costs this winter through the Energy Price Guarantee and the Energy Bill Relief Scheme. Millions of the most vulnerable households will receive £1,200 of support this year, with additional support for pensioners and those claiming disability benefits.</p><p> </p><p>When mortgage borrowers are in financial difficulty and struggling to pay their mortgage, FCA guidance requires firms to provide support through tailored forbearance options. The Government also offers support to borrowers through Support for Mortgage Interest (SMI) loans to homeowners in receipt of an income-related benefit, and protection in the courts under the Mortgage Pre-Action Protocol.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 69531 69532 69533 69534 69535 question first answered 27/10/2022 10:05:54 answering member 4874 label Biography information for Andrew Griffith
tabling member	491 label Biography information for Dame Angela Eagle

1535167

registered interest
date	24/10/2022
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 assessment his Department has made of the potential merits regulating interest-only mortgage lenders’ adjustment of variable rates.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	69531
answer	answer is ministerial correction date of answer 27/10/2022 answer text <p>The Financial Conduct Authority’s (FCA) review into mortgage prisoners, published in November 2021, found that there are 47,000 mortgage prisoners who might benefit from switching to a new mortgage deal but are considered too high risk to do so, despite being up to date with payments.</p><p> </p><p>The review makes clear that the reason mortgage prisoners are unable to switch are varied and complex. As such, there is no silver bullet to address the circumstances of this entire population of mortgage holders without being unfair to other borrowers.</p><p> </p><p>The Government has already worked with the FCA to implement changes to its mortgage lending rules, removing the regulatory barrier that prevented some mortgage prisoners, who otherwise may have been able to switch, from accessing new products. These rules should allow customers to switch to an active lender as long as they meet the lender’s risk appetite and certain criteria, such as not looking to borrow more.</p><p> </p><p>Ultimately, the pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene. As such, the Government cannot force lenders to lend to borrowers that sit outside of their risk appetite.</p><p> </p><p>Any further work on this issue must consider the impact and practicality of solutions and their effects on the wider mortgage market, including the resilience of firms and fairness to other borrowers. There is no evidence, for instance, that consumers have experienced detriment that would be resolved by an extension of the regulatory perimeter. It is also worth noting that the Standard Variable Rates (SVRs) charged by inactive firms are in line with those paid by borrowers in the active market. The Government remains open to practical and proportionate solutions to help mortgage prisoners that do not pose unacceptable financial stability risks, and are not unfair to other borrowers in the mortgage market.</p><p> </p><p>More broadly, the Government understands that people across the UK are worried about the cost of living. That is why we have announced £37 billion of support for the cost of living this financial year. We have also taken decisive action to support millions of households with rising energy costs this winter through the Energy Price Guarantee and the Energy Bill Relief Scheme. Millions of the most vulnerable households will receive £1,200 of support this year, with additional support for pensioners and those claiming disability benefits.</p><p> </p><p>When mortgage borrowers are in financial difficulty and struggling to pay their mortgage, FCA guidance requires firms to provide support through tailored forbearance options. The Government also offers support to borrowers through Support for Mortgage Interest (SMI) loans to homeowners in receipt of an income-related benefit, and protection in the courts under the Mortgage Pre-Action Protocol.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 69530 69532 69533 69534 69535 question first answered 27/10/2022 10:05:54 answering member 4874 label Biography information for Andrew Griffith
tabling member	491 label Biography information for Dame Angela Eagle

1535168

registered interest
date	24/10/2022
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, whether his Department has made an assessment of the potential merits of incorporating closed book mortgages into existing mortgage regulatory frameworks.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	69532
answer	answer is ministerial correction date of answer 27/10/2022 answer text <p>The Financial Conduct Authority’s (FCA) review into mortgage prisoners, published in November 2021, found that there are 47,000 mortgage prisoners who might benefit from switching to a new mortgage deal but are considered too high risk to do so, despite being up to date with payments.</p><p> </p><p>The review makes clear that the reason mortgage prisoners are unable to switch are varied and complex. As such, there is no silver bullet to address the circumstances of this entire population of mortgage holders without being unfair to other borrowers.</p><p> </p><p>The Government has already worked with the FCA to implement changes to its mortgage lending rules, removing the regulatory barrier that prevented some mortgage prisoners, who otherwise may have been able to switch, from accessing new products. These rules should allow customers to switch to an active lender as long as they meet the lender’s risk appetite and certain criteria, such as not looking to borrow more.</p><p> </p><p>Ultimately, the pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene. As such, the Government cannot force lenders to lend to borrowers that sit outside of their risk appetite.</p><p> </p><p>Any further work on this issue must consider the impact and practicality of solutions and their effects on the wider mortgage market, including the resilience of firms and fairness to other borrowers. There is no evidence, for instance, that consumers have experienced detriment that would be resolved by an extension of the regulatory perimeter. It is also worth noting that the Standard Variable Rates (SVRs) charged by inactive firms are in line with those paid by borrowers in the active market. The Government remains open to practical and proportionate solutions to help mortgage prisoners that do not pose unacceptable financial stability risks, and are not unfair to other borrowers in the mortgage market.</p><p> </p><p>More broadly, the Government understands that people across the UK are worried about the cost of living. That is why we have announced £37 billion of support for the cost of living this financial year. We have also taken decisive action to support millions of households with rising energy costs this winter through the Energy Price Guarantee and the Energy Bill Relief Scheme. Millions of the most vulnerable households will receive £1,200 of support this year, with additional support for pensioners and those claiming disability benefits.</p><p> </p><p>When mortgage borrowers are in financial difficulty and struggling to pay their mortgage, FCA guidance requires firms to provide support through tailored forbearance options. The Government also offers support to borrowers through Support for Mortgage Interest (SMI) loans to homeowners in receipt of an income-related benefit, and protection in the courts under the Mortgage Pre-Action Protocol.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 69530 69531 69533 69534 69535 question first answered 27/10/2022 10:05:54 answering member 4874 label Biography information for Andrew Griffith
tabling member	491 label Biography information for Dame Angela Eagle