Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed question first answered answering member label
tabling member	label

Search

391306

	registered interest
	date	20/07/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what support his Department is providing to promote the growth of the FinTech industry.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	7976
	answer	answer is ministerial correction date of answer 07/09/2015 answer text <p>The Government is committed to making the UK the leading global FinTech hub, and has announced a large number of policy initiatives, including more supportive regulatory regimes for peer-to-peer, digital currencies, and other innovative firms.</p><p> </p><p> </p><p> </p><p>The Government built on this record at the Summer Budget. First, Eileen Burbidge was appointed as the UK’s ‘Special Envoy for FinTech’, where she will represent UK interests in FinTech at home and around the world. Second, an international FinTech benchmarking exercise was announced to measure the UK’s performance and identify areas of best practice from around the world.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 07/09/2015 15:35:18 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

419038

	registered interest
	date	16/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what plans he has to bring forward legislation to regulate (a) digital currencies, (b) crowdfunding and (c) peer-to-peer lending.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	10491
	answer	answer is ministerial correction date of answer 12/10/2015 answer text <p>At the March Budget, the Government said it would consult on how to regulate digital currency exchanges in the new Parliament.</p><p>Operating a P2P platform has been an activity regulated by the Financial Conduct Authority (FCA) since 2014. Crowdfunding is also a Regulated Activity and is subject to FCA rules.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 12/10/2015 14:17:54 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

419043

	registered interest
	date	16/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he is taking to attract international FinTech companies to the UK.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	10494
	answer	answer is ministerial correction date of answer 12/10/2015 answer text <p>The Government is committed to making the UK the leading global FinTech hub, and has announced a large number of policy initiatives, including more supportive regulatory regimes for peer-to-peer, digital currencies, and other innovative firms.</p><p>The Government built on this record at the Summer Budget. First, Eileen Burbidge was appointed as the UK’s ‘Special Envoy for FinTech’, where she will represent UK interests in FinTech at home and around the world. Second, an international FinTech benchmarking exercise was announced to measure the UK’s performance and identify areas of best practice from around the world.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 12/10/2015 14:34:55 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

428506

	registered interest
	date	16/11/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Payment Methods
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he is taking to deliver a faster payments infrastructure.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	16451
	answer	answer is ministerial correction date of answer 23/11/2015 answer text <p>The Faster Payment Scheme (FPS) launched in 2008 and provides near-instant settlement for over one billion payments that consumers and businesses make every year.</p><br /><p>FPS is one of the eight payment systems regulated by the new Payment Systems Regulator – which the Government launched in 2015, equipped with powers to ensure that UK payment systems are competitive and innovative. A key part of the PSR’s work is to ensure that UK payment systems work efficiently to deliver benefits for the individuals and firms that use them.</p><br /><p>The Government is also working with the Financial Conduct Authority’s (FCA) Project Innovate – which looks to foster and support innovative financial technology (“FinTech”) firms, including firms that offer customers new and efficient ways to make payments in the UK.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 23/11/2015 11:49:17 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

428507

	registered interest
	date	16/11/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the availability of bank accounts for (a) crowd funding and (b) digital currency businesses.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	16372
	answer	answer is ministerial correction date of answer 23/11/2015 answer text <p>As the Chancellor announced at the Budget in March, the Government intends to bring digital currency exchanges into the scope of anti-money laundering regulation. The digital currency industry has highlighted the current lack of regulation as one of the obstacles firms face when trying to get bank accounts in the UK. The new regulatory regime will be designed to support firms’ access to these vital banking services, and to foster an environment in which legitimate digital currency businesses can flourish in the UK. The Treasury will consult on the detail of regulation shortly.</p><br /><p>The Government has supported the crowdfunding industry by consulting on whether to extend ISA eligibility to debt and equity crowdfunding and helping equity crowdfunding through the tax efficient Enterprise Investment Scheme (EIS) – without which 24% of investors say they would not have invested.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 23/11/2015 11:47:50 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

431610

	registered interest
	date	23/11/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Small Businesses: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effectiveness of the bank referral scheme announced in the 2015 Budget in providing accessible finance to small and medium-seized enterprises.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	17360
	answer	answer is ministerial correction date of answer 01/12/2015 answer text <p>The bank referral scheme is not yet up and running but the Government is committed to delivering this policy which will help small and medium sized enterprises access the finance they need to grow and expand.</p><br /><p>Since the Government announced the Finance Platform policy at Budget 2014 significant progress on implementation has been made. The Government has consulted, passed primary legislation and is now close to making secondary legislation.</p><br /><p>The British Business Bank is currently undertaking a due diligence process on Finance Platforms that have expressed an interest in becoming designated and will advise HM Treasury on designation in the Spring; with the policy expected to ‘go live’ later in 2016.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 01/12/2015 17:09:59 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

520628

	registered interest
	date	23/05/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Bank Services: ICT
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the role of financial technology in encouraging consumers to switch their current account.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	37958
	answer	answer is ministerial correction date of answer 01/06/2016 answer text <p>The government is committed to increasing competition in banking to improve outcomes for consumers. This includes delivering the Current Account Switch Service (CASS) which allows customers to switch their personal or business current account where they see a better deal – simply, quickly and reliably. Consumers have switched over 2.8 million times since the service was launched in 2013.</p><p> </p><p>Making it easier for people to understand and compare banking products and services can help drive consumer engagement and could lead to an increase in switching. Financial technology is an important part of this.</p><p> </p><p>In its recent provisional decision on remedies, the Competition and Markets Authority (CMA) proposed requiring the largest retail banks in Great Britain and Northern Ireland to develop and adopt an open API banking standard by early 2018.</p><p>This will make it easier for financial technology firms to make use of customer bank data in a variety of innovative ways, including providing services that make it easier for consumers to compare products and shop around for a better deal.</p><p> </p><p>The government welcomes the CMA’s ongoing work as a crucial step towards the goal of a highly competitive banking sector, and stands ready to take action as necessary once the CMA publishes its final report in the summer.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 01/06/2016 13:51:23 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

528545

	registered interest
	date	24/06/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Pensions: Lump Sum Payments
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether he plans to change the pension freedoms rules to allow people to withdraw a lump sum after drawing down their pension.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Alan Brown
	uin	41170
	answer	answer is ministerial correction date of answer 29/06/2016 answer text <p>The Chancellor announced at the March Budget 2015 that the government intends to remove the restrictions on the sale of existing annuities. This will allow pensioners to sell the income they receive from their annuity. Subject to agreement from their annuity provider and there being a willing buyer, people will then be able to access their money either as a lump sum or arrange for it to be put into a drawdown product to use the proceeds more gradually.</p><p> </p><p>In December 2015, the government published its response to its initial consultation on these proposals confirming that the government intends to implement these proposals from April 2017.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 29/06/2016 16:06:59 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	4470 label Biography information for Alan Brown

381365

	registered interest
	date	16/06/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Fair and Effective Markets Review
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, when he last met with representatives of the (a) Financial Conduct Authority and (b) Bank of England to discuss recommendations made by the Fair and Effective Markets Review.
	tabling member constituency	Wirral South
	tabling member printed	Alison McGovern
	uin	2686
	answer	answer is ministerial correction date of answer 22/06/2015 answer text <p>The Fair and Effective Markets Review was a joint review between the Bank of England, the Financial Conduct Authority (FCA) and HM Treasury. It was chaired by Nemat “Minouche” Shafik, Deputy Governor at the Bank of England, with Martin Wheatley (CEO of the FCA) and Charles Roxburgh (Director General Financial Services at HM Treasury) as co-chairs.</p><p> </p><p> </p><p> </p><p>The Review’s secretariat was based at the Bank of England and was drawn from all three authorities, including from HM Treasury. This has been a collaborative piece of work across the institutions and officials maintained a continuous two-way communication between the Review and HM Treasury throughout the life of the Review.</p><p> </p><p> </p><p> </p><p>The Review has concluded its findings and made recommendations to the Chancellor on 10 June. The Chancellor and the Governor of the Bank of England have welcomed the Review’s final recommendations in their Mansion House speeches. To ensure that momentum is maintained on the recommendations, the three Principals have committed to providing a full implementation update to the Chancellor and the Governor of the Bank of England, by June 2016.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 22/06/2015 16:46:10 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	4083 label Biography information for Alison McGovern

381376

	registered interest
	date	16/06/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Fair and Effective Markets Review
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what responses the Government has made to the recommendations of the Fair and Effective Markets Review 2015.
	tabling member constituency	Wirral South
	tabling member printed	Alison McGovern
	uin	2794
	answer	answer is ministerial correction date of answer 22/06/2015 answer text <p>The Government has an ongoing commitment to deal with abuses and ensure that these markets are fair for all who depend on them. The Chancellor has welcomed the Review’s recommendations and the Review chairs have committed to provide further detail about the implementation of these recommendations by June 2016.</p><p> </p><p> </p><p> </p><p>The Government will go through the normal processes to consider the implementation of the recommendations that fall to the UK Government.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 22/06/2015 16:43:39 answering member 4107 label Biography information for Harriett Baldwin
	tabling member	4083 label Biography information for Alison McGovern