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100668

	registered interest
	date	23/10/2014
	answering body	HM 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 Mr Chancellor of the Exchequer, when he intends to reply to the letter to him dated 15 September 2014 from the right hon. Member for Manchester, Gorton with regard to Reverend Ian Hamilton.
	tabling member constituency	Manchester, Gorton
	tabling member printed	Sir Gerald Kaufman
	uin	211687
	answer	answer is ministerial correction date of answer 30/10/2014 answer text <p>I replied to the Rt Hon Member, on behalf of the Chancellor, on 22 October 2014</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 30/10/2014 17:13:32 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	451 label Biography information for Sir Gerald Kaufman

100746

	registered interest
	date	23/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money Laundering: EU Law
	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 potential effect of the proposed revision of EU Anti-Money Laundering Directive on individuals and companies in the UK.
	tabling member constituency	Belfast North
	tabling member printed	Mr Nigel Dodds
	uin	211714
	answer	answer is ministerial correction date of answer 30/10/2014 answer text <p>The 4<sup>th</sup> EU Anti-Money Laundering Directive transposes the global standards on anti-money laundering and counter-terrorism finance set by the Financial Action Task Force (FATF) in 2012. These standards further embed the risk-based approach, which allow obliged entities, including companies, to adopt anti-money laundering checks which are best suited to the risk they face in their everyday business. This allows for more proportionate and balanced anti-money laundering regimes across the EU including in the UK.</p><p> </p><p> </p><p> </p><p>The Directive is currently in its last stage of negotiations. The UK government is committed to publishing an impact assessment and to consulting on the implementation of the Directive before transposing its new requirements into UK legislation, in line with better regulation principles. This timing is necessary to ensure that any Impact Assessment accurately reflects any changes to the draft legislation agreed in negotiations.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 30/10/2014 16:46:41 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1388 label Biography information for Lord Dodds of Duncairn

101045

	registered interest
	date	27/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bitcoin
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what guidance he has issued to vendors accepting digital currencies as payment for goods and services.
	tabling member constituency	Fareham
	tabling member printed	Mr Mark Hoban
	uin	212138
	answer	answer is ministerial correction date of answer 03/11/2014 answer text <p>The Chancellor of the Exchequer has not issued guidance to vendors accepting digital currencies as payment for goods and services.</p><p> </p><p> </p><p> </p><p>In August 2014 the Chancellor announced the Government would undertake a major programme of work looking at the benefits and risks of digital currencies, and look into whether they could or should be regulated.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 03/11/2014 14:06:13 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1414 label Biography information for Mr Mark Hoban

101322

	registered interest
	date	28/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pool Reinsurance Company
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what the current size is of the Pool Re reserves.
	tabling member constituency	Ashford
	tabling member printed	Damian Green
	uin	212169
	answer	answer is ministerial correction date of answer 03/11/2014 answer text <p>Pool Re’s reserves stood at approximately £5.26 billion as at 31 December 2013, according to Pool RE’s annual report.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 03/11/2014 15:12:28 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	76 label Biography information for Damian Green

101324

	registered interest
	date	28/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pool Reinsurance Company
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the adequacy of the Pool Reinsurance reserves in the event of a terrorist incident.
	tabling member constituency	Ashford
	tabling member printed	Damian Green
	uin	212253
	answer	answer is ministerial correction date of answer 03/11/2014 answer text <p>Pool Re’s reserves stood at approximately £5.26 billion as at 31 December 2013. However, Pool Re is able to cover events that result in significantly greater claims than £5.26 billion due to its ability to increase premiums, call on additional funds from members, and call on an HMT guarantee to make funding available should those sources prove insufficient to meet its reinsurance liabilities.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 03/11/2014 15:03:03 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	76 label Biography information for Damian Green

101528

	registered interest
	date	29/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Employment
	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 recommendation of the All-Party Parliamentary Group on Wellbeing Economics that stable and secure employment for all should be the primary objective of economic policy.
	tabling member constituency	Cheltenham
	tabling member printed	Martin Horwood
	uin	212387
	answer	answer is ministerial correction date of answer 03/11/2014 answer text <p>Since the financial crisis the government's long term economic plan has provided the foundations for the current recovery, which is now well established. The government has continued to take the difficult decisions needed to secure a stronger recovery for all and build a fairer society.</p><p> </p><p>The latest official labour market figures show that employment in the UK is at its highest ever level, 30.76 million, an increase of 1.7 million since the Coalition entered office. Over the same period the level of redundancies has fallen by 45 per cent.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 03/11/2014 17:28:07 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1499 label Biography information for Martin Horwood

31321

	registered interest
	date	07/01/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name
	answering dept sort name
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what discussions he has had with UKAR regarding the potential effect on customers of a rise in interest rates.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Cathy Jamieson
	uin	182195
	answer	answer is ministerial correction date of answer 13/05/2014 answer text <p>This Government's long term economic plan has kept interest rates at record lows for hardworking people across the country.</p><p> </p><p>Many lenders impose affordability stress tests on their mortgage lending decisions to ensure that the mortgage will remain affordable should interest rates rise. The Financial Conduct Authority's Mortgage Market Review rules, which came into force in April this year will require all mortgage lenders to conduct such a stress test.</p><p> </p><p>Although UKAR does not engage in new lending, UKAR runs a range of modelling scenarios to understand the potential effects of interest rate rises on customers. This work helps UKAR to identify customers who may be susceptible to higher interest rates and to engage with such customers at an early stage.</p><p> </p><p>UKAR assists all customers who wish to switch mortgage providers.</p><p> </p><p>NRAM and Bradford and Bingley are managed by UK Asset Resolution Limited (UKAR) which was established in 2010 to manage the disposal and rundown of outstanding assets at Bradford &amp; Bingley and Northern Rock Asset Management in an integrated way, with a view to creating value for the taxpayer. UKAR is managed at arm's length from Government, on commercial principles.</p><p> </p><p>It is therefore not for the Chancellor to discuss detailed commercial matters with UKAR.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 182196 question first answered 13/05/2014 12:00:00 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4011 label Biography information for Cathy Jamieson

31322

	registered interest
	date	07/01/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name
	answering dept sort name
	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 potential effect of an interest rate rise on customers whose mortgages are held by UKAR; and what support is available to assist such customers to switch providers.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Cathy Jamieson
	uin	182196
	answer	answer is ministerial correction date of answer 13/05/2014 answer text <p>This Government's long term economic plan has kept interest rates at record lows for hardworking people across the country.</p><p> </p><p>Many lenders impose affordability stress tests on their mortgage lending decisions to ensure that the mortgage will remain affordable should interest rates rise. The Financial Conduct Authority's Mortgage Market Review rules, which came into force in April this year will require all mortgage lenders to conduct such a stress test.</p><p> </p><p>Although UKAR does not engage in new lending, UKAR runs a range of modelling scenarios to understand the potential effects of interest rate rises on customers. This work helps UKAR to identify customers who may be susceptible to higher interest rates and to engage with such customers at an early stage.</p><p> </p><p>UKAR assists all customers who wish to switch mortgage providers.</p><p> </p><p>NRAM and Bradford and Bingley are managed by UK Asset Resolution Limited (UKAR) which was established in 2010 to manage the disposal and rundown of outstanding assets at Bradford &amp; Bingley and Northern Rock Asset Management in an integrated way, with a view to creating value for the taxpayer. UKAR is managed at arm's length from Government, on commercial principles.</p><p> </p><p>It is therefore not for the Chancellor to discuss detailed commercial matters with UKAR.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 182195 question first answered 13/05/2014 12:00:00 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4011 label Biography information for Cathy Jamieson

32172

	registered interest
	date	09/01/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name
	answering dept sort name
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what proportion and value of his Department's contracts have been let (a) under the restricted procedure, (b) by the open procedure, (c) via framework agreements and (d) via a tendering process involving the use of a pre-qualification questionnaire in each of the last three years.
	tabling member constituency	Nottingham East
	tabling member printed	Chris Leslie
	uin	182696
	answer	answer is ministerial correction date of answer 07/05/2014 answer text <p>Since January 2011, central government departments have been required to publish on Contracts Finder information on the tenders issued and contracts they award with a value over £10,000 (excluding VAT) (www.gov.uk/contractsfinder).</p><p> </p><p>Public Procurement Regulations require that prescribed procurement procedures are used when procurements exceed the EU contract threshold values. This legal framework helps to ensure that public procurement is conducted in a fair and open manner both within the UK and across the EU.</p><p> </p><p>Less than two percent of all contracts were let under the restricted procedure in each of the last three years.</p><p> </p><p>In 2010/11 there was one contract let under the restricted procedure. This was for actuarial support to the independent commission on Equitable Life Payments that was set up by this government to recommend how best to fairly allocate funds provided for the Equitable Life Payments Scheme (ELPS) and had a contract value of £1million.</p><p> </p><p>In 2011/12 there were two contracts let under the restricted procedure. They were (i) Corporate Financial Advice framework contract (estimated contract value of £5 million over the 2 years but no guaranteed spend)and (ii) a contract for actuarial support for (ELPS) in making fair and transparent payments to Equitable Life policyholders who suffered financial losses as a result of Government maladministration which occurred in the regulation of Equitable Life. The contract value was £5.4 million.</p><p> </p><p> </p><p>The information requested for the proportion and value of HM Treasury contracts that have been let via framework agreements and where a tendering process involving the use of a pre-qualification questionnaire in each of the last three years is not readily available and could be obtained only at disproportionate cost.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 07/05/2014 12:00:00 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	422 label Biography information for Mr Chris Leslie

36720

	registered interest
	date	04/02/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name
	answering dept sort name
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what proportion of (a) permanent, (b) temporary and (c) contract staff in his Department as paid the living wage or above.
	tabling member constituency	Bradford East
	tabling member printed	Mr David Ward
	uin	186697
	answer	answer is ministerial correction date of answer 07/05/2014 answer text <p>100% of permanent and temporary staff at HM Treasury are paid the Living Wage or above.</p><p> </p><p>HM Treasury fully complies with EU procurement directives and awards contracts on the basis of the best value for money for the taxpayer. Nevertheless, we have encouraged contractors to commit to paying a living wage and expect all employers to pay at least the national minimum wage.</p><p> </p><p>The Government supports businesses that choose to pay the Living Wage however the Government's main policy on wages is the National Minimum Wage, which has continued to protect the relative wages of the low paid. This is independently set by the Low Pay Commission at a level that maximises their wages without reducing employment prospect. It is for workers and employers to decide the level of wages above the minimum wage based on current circumstances. This includes the Government as a procurer and an employer. Over 95%, around 20 million employees earn above the minimum wage and the majority of public sector workers currently earn above the Living Wage.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 07/05/2014 12:00:00 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	3923 label Biography information for Mr David Ward