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224414

	registered interest
	date	02/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	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 his Department has taken to boost the growth of the financial technology industry.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	225806
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>As part of our long term economic plan, the Government is committed to supporting the continued growth of the Financial Technology (FinTech) sector. The Government has taken a number of steps to achieve this, including:</p><p> </p><p> </p><p> </p><ul><li><p>Creating a new Payments Systems Regulator (PSR), which will ensure that smaller banks and alternative providers of finance – including FinTechs – can access payment systems in a fair and transparent way, and thereby contributing to a fairer and more competitive payments industry. The PSR will open its doors on 1 April this year.</p><p> </p></li><li><p>Committing to additional funding of £100m to the British Business Bank’s Investment Programme – including funding for FinTech.</p><p> </p></li><li><p>Launching the GO-Science’s Blackett Review on FinTech Futures, which looks ahead 10 years to the future and identify what the technologies, enablers and barriers are that will shape the future of the UK FinTech sector.</p><p> </p></li></ul><p> </p><ul><li><p>Naming the big banks that will have to share credit data, and refer on SMEs they reject for finance – helping alternative finance providers, including FinTech firms, to lend more effectively;</p></li></ul><p> </p><p> </p><p> </p><ul><li><p>Supporting the development of the peer-to-peer lending and crowdfunding market: consulting on ISA eligibility for crowdfunded debt securities; announcing we will review EU regulations standing in the way of P2P institutional lending; and creating a bespoke regulatory framework for P2P.</p><p> </p></li></ul><p> </p><p>Most recently at budget 2015, we announced a further package of measures to build on the government’s wide-reaching programme of reform to drive competition in banking and FinTech, including announcing that:</p><p> </p><ul><li><p>The Government intends to apply anti-money laundering regulation to digital currency exchanges in the UK, launch a new research initiative into digital currency technology, with £10 million additional funding, and work with the British Standards Institution and the digital currency industry to develop voluntary standards for consumer protection.</p><p> </p></li><li><p>Gocompare will launch the first personal current account comparison tool making use of customers’ bank midata releases on 26 March 2015.</p><p> </p></li><li><p>The Government will work with the banks and FinTech firms to develop an open API (Application Programming Interface) standard for banks, by the end of the year.</p></li></ul><p> </p><p> </p><p> </p><ul><li><p>the Financial Conduct Authority’s (FCA) ‘Project Innovate’ will work with HMT and the Prudential Regulation Authority (PRA) to investigate the feasibility of developing a regulatory ‘sandbox’ for financial services innovators</p><p> </p></li><li><p>Innovate Finance has agreed to deliver its FinTech regional strategy through a series of local partnerships; the first partnership has already been established in Leeds, and further partnerships will be established in Manchester and Edinburgh by April, and in Newcastle, Bristol and other centres before the end of the year.</p></li></ul><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 25/03/2015 11:07:37 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1586 label Biography information for Adam Afriyie

228269

	registered interest
	date	18/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Income Tax: Pendle
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many people in Pendle constituency had their income tax reduced as a result of personal allowance increases since May 2010.
	tabling member constituency	Pendle
	tabling member printed	Andrew Stephenson
	uin	228200
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>By the tax year beginning April 2017 this Government's increases in the personal allowance (for those born after 5 April 1948) are forecast to have reduced the income tax liability of 27.2 million individuals in the UK. It is forecast that 2.9 million of them live in the North West and Merseyside region, which includes the Parliamentary Constituency of Pendle.</p><p> </p><p> </p><p> </p><p>These forecasts are based on the 2012-13 Survey of Personal Incomes, projected to 2017-18 using economic assumptions consistent with the Office for Budget Responsibility’s March 2015 economic and fiscal outlook.</p><p> </p><p> </p><p> </p><p>HM Treasury does not publish this information at constituency level.</p><p> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 25/03/2015 10:55:30 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4044 label Biography information for Andrew Stephenson

227720

	registered interest
	date	17/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Married People: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many people have registered their interest in the marriage allowance to date; and what proportion of those people (a) are over 65, (b) are men, (c) are women and (d) have children under 18.
	tabling member constituency	Newcastle upon Tyne North
	tabling member printed	Catherine McKinnell
	uin	227758
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>HM Revenu &amp; Customs (HMRC) launched its registration system for the Marriage Allowance on 20 February and people are registering their interest all the time.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 25/03/2015 11:44:36 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4125 label Biography information for Catherine McKinnell

228281

	registered interest
	date	18/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, with reference to paragraph 1.164 of Budget 2014, what estimate he has made of the number of people who have taken their pension pots as a lump sum as a result of the decision to increase the small pot limit from £2,000 to £10,000 and the number of pensions that can be taken as small pot lump sums from two to three.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Cathy Jamieson
	uin	228298
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>As a result of the changes to pensions announced at Budget 2014 for the 2014-15 tax year, it is estimated that over 400,000 individuals are able to withdraw their pension wealth more flexibly if they wish to do so.</p><p> </p><p> </p><p> </p><p>This figure was presented in the associated Tax Information and Impact Note, which is available here: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293844/TIIN_8070_8062_8202_8132_8133_increasing_pension_flexibility.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293844/TIIN_8070_8062_8202_8132_8133_increasing_pension_flexibility.pdf</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 228299 228300 question first answered 25/03/2015 11:37:52 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4011 label Biography information for Cathy Jamieson

228282

	registered interest
	date	18/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, with reference to paragraph 2.57 of Budget 2014, what estimate he has made of the number of people who have cashed in their pension pots in a lump sum as a result of the decision to increase the upper limit for trivial commutation from £18,000 to £30,000.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Cathy Jamieson
	uin	228299
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>As a result of the changes to pensions announced at Budget 2014 for the 2014-15 tax year, it is estimated that over 400,000 individuals are able to withdraw their pension wealth more flexibly if they wish to do so.</p><p> </p><p> </p><p> </p><p>This figure was presented in the associated Tax Information and Impact Note, which is available here: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293844/TIIN_8070_8062_8202_8132_8133_increasing_pension_flexibility.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293844/TIIN_8070_8062_8202_8132_8133_increasing_pension_flexibility.pdf</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 228298 228300 question first answered 25/03/2015 11:37:52 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4011 label Biography information for Cathy Jamieson

228283

	registered interest
	date	18/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, with reference to paragraph 2.54 of Budget 2014, what estimate he has made of the number of people who have accessed flexible drawdown as a result of the decision to reduce the guaranteed income requirement from £20,000 to £12,000.
	tabling member constituency	Kilmarnock and Loudoun
	tabling member printed	Cathy Jamieson
	uin	228300
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>As a result of the changes to pensions announced at Budget 2014 for the 2014-15 tax year, it is estimated that over 400,000 individuals are able to withdraw their pension wealth more flexibly if they wish to do so.</p><p> </p><p> </p><p> </p><p>This figure was presented in the associated Tax Information and Impact Note, which is available here: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293844/TIIN_8070_8062_8202_8132_8133_increasing_pension_flexibility.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/293844/TIIN_8070_8062_8202_8132_8133_increasing_pension_flexibility.pdf</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 228298 228299 question first answered 25/03/2015 11:37:51 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4011 label Biography information for Cathy Jamieson

228500

	registered interest
	date	19/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Electronic Government
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether he will provide additional funding to enable Government Digital Service (GDS) to work with local government on digital services; to which bodies that will be allocated; and whether he expects GDS to grow in size.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	228497
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>This work will be undertaken from within existing budgets at the Cabinet Office. The Government will engage as the sector draws up plans to help take advantage of the opportunities the new digital age presents – protecting frontline services whilst delivering efficiencies. If the sector is able to deliver these proposals, they could contribute towards our goal, as announced at Autumn Statement 14, of a further £10bn efficiency savings.</p><p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 25/03/2015 15:58:20 answering member 1535 label Biography information for Danny Alexander
	tabling member	4124 label Biography information for Chi Onwurah

228854

	registered interest
	date	20/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-assessment
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, where he plans digital tax accounts will be held; how he plans to protect such accounts against cyber attacks; and what safeguards he plans to put in place for those accounts to protect privacy.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	228639
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>The digital tax accounts will be accessible through Gov.UK and are therefore protected by the strong security built into that product to protect the accounts from cyber attacks. For anyone to access the digital accounts they will have to have authenticated their identity through the Government Gateway process or by the Verify route. These robust identity checks will enable customers to securely access their data within their account.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 25/03/2015 17:43:38 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4124 label Biography information for Chi Onwurah

228855

	registered interest
	date	20/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Driver and Vehicle Licensing Agency
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 10 March 2015 to Question 225793, for what reason the Driver and Vehicle Licensing Agency imposes a five per cent surcharge on people who pay by monthly direct debit, but does not do so on people who pay by annual direct debit.
	tabling member constituency	Aberconwy
	tabling member printed	Guto Bebb
	uin	228622
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>Motorists who buy a six month Vehicle Excise Duty (VED) licence have historically paid a ten per cent surcharge.</p><p> </p><p> </p><p> </p><p>The Government has introduced a direct debit scheme for the payment of VED, to allow families and businesses to spread their tax payments. Under the scheme, the surcharge has been halved to five per cent when the tax is paid by six monthly and monthly instalments. The retention of a surcharge prevents a loss in VED revenue which would otherwise need to be made up elsewhere, by either increasing other taxes or reducing the Government’s investment in public services.</p><p> </p> answering member constituency Witham answering member printed Priti Patel question first answered 25/03/2015 09:59:35 answering member 4066 label Biography information for Priti Patel
	tabling member	3910 label Biography information for Guto Bebb

169747

	registered interest
	date	11/12/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Climate Change
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what his Department's domestic adaptation spend was in 2014-15.
	tabling member constituency	Crawley
	tabling member printed	Henry Smith
	uin	218380
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>HM Treasury does not have any dedicated expenditure on domestic adaption, as the central policy function sits with the Department for Environment, Food and Rural Affairs.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 25/03/2015 10:54:05 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	3960 label Biography information for Henry Smith