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101529

	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	Financial Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he has taken to monitor practices in the banking sector.
	tabling member constituency	South Antrim
	tabling member printed	Dr William McCrea
	uin	212470
	answer	answer is ministerial correction date of answer 05/11/2014 answer text <p>This Government has taken a number of major steps to strengthen monitoring and regulation of the banking sector.</p><p> </p><p> </p><p> </p><p>The Financial Services Act 2012 put in place two new, properly focussed financial regulators, the Prudential Regulation Authority (PRA) - a subsidiary of the Bank of England - the Financial Conduct Authority (FCA), as part of a new approach to financial regulation. The new regulators started work on 1 April 2013.</p><p> </p><p> </p><p> </p><p>The Government’s new approach to financial regulation enables the PRA to concentrate on monitoring the health of UK banks to ensure that they are prudently and competently managed and to reduce the risk that the practices of UK banks will lead to serious financial failure. At the same time, the FCA can concentrate on monitoring the practices of UK banks and other financial services businesses in their dealing with ordinary retail customers and in wholesale financial markets, to reduce the risk that the practices in the banking sector are detrimental to consumers or competition, or threaten the integrity of financial markets.</p><p> </p><p> </p><p> </p><p>On 12 June 2014, the Government announced the Fair and Effective Markets Review, which is a joint review by HM Treasury, the Bank of England, and the Financial Conduct Authority (FCA) into the way wholesale financial markets operate. The Government is determined to take action to help restore trust and integrity and to ensure that the highest standards are expected of those who operate in these markets. It is important that this is done in a way that preserves the UK’s position as the global financial centre for many of these markets. The Review published its consultation document “How fair and effective are the fixed income, foreign exchange and commodities markets?” on 27 October, and the Government looks forward to the review’s final recommendations in June 2015.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 05/11/2014 16:50:46 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	655 label Biography information for Lord McCrea of Magherafelt and Cookstown

101803

	registered interest
	date	30/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Housing: Construction
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what forecasts he has made of the long-term trends in house-building in each region and constituent part of the UK.
	tabling member constituency	Belfast North
	tabling member printed	Mr Nigel Dodds
	uin	212748
	answer	answer is ministerial correction date of answer 05/11/2014 answer text <p>The government does not publish forecasts of long term house building by region or constituency. However the Office for Budget Responsibility (OBR) includes housing market projections in its Economic and Fiscal Outlook. The next estimates are to be released on the 3<sup>rd</sup> December.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 05/11/2014 15:50:36 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1388 label Biography information for Lord Dodds of Duncairn

100619

	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	Economic Situation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government, in the light of the latest revised forecast by the International Monetary Fund for the British economy, whether the Chancellor of the Exchequer still has confidence in its forecasting.
	tabling member printed	Lord Blencathra
	uin	HL2350
	answer	answer is ministerial correction date of answer 05/11/2014 answer text <p>Britain’s long term economic plan is working, boosting economic security for Britain’s hardworking people. The economy is growing, the deficit has fallen by a third and there are record levels of people in work. But the job is not done and the biggest risk now to the recovery would be abandoning the plan that is delivering a brighter economic future.</p><p> </p><p>The Government’s strategy is to restore the public finances to a sustainable path and the UK is seen as a relative safe haven, with interest rates remaining historically low helping keep interest payments down for households, businesses and the taxpayer.</p><p>The IMF set out their latest forecasts in the October 2014<em> World Economic Outlook. </em>The publication recognises the Government’s long term economic plan is working, that the UK is growing and leaving the crisis behind. The IMF project the UK economy to be the fastest growing G7 economy in 2014, at 3.2 per cent and 2.7 per cent in 2015. Furthermore, the IMF recognise that fiscal consolidation undertaken during the past few years has built trust among financial investors that current fiscal paths are sustainable.</p> answering member printed Lord Deighton question first answered 05/11/2014 14:02:54 answering member 4262 label Biography information for Lord Deighton
	tabling member	497 label Biography information for Lord Blencathra

101696

	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	Bank Services: Fees and Charges
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what assessment have they made of the level of unauthorised overdraft fees charged by banks in the United Kingdom.
	tabling member printed	Lord Kennedy of Southwark
	uin	HL2518
	answer	answer is ministerial correction date of answer 05/11/2014 answer text <p>The Government has not made an assessment of the level of unauthorised overdraft fees charged by banks in the United Kingdom.</p><p> </p><p> </p><p> </p><p>In November 2011, the Government announced an agreement with the major current account providers to enable customers to control their account and to take action to avoid unarranged overdraft charges.</p><p> </p><p> </p><p> </p><p>The Office of Fair Trading found in January 2013 that there had been a significant reduction in bank fees and charges since their 2008 market study, and estimated that there had been an annual saving of £928million for consumers as a result.</p><p> </p> answering member printed Lord Deighton question first answered 05/11/2014 14:01:50 answering member 4262 label Biography information for Lord Deighton
	tabling member	4153 label Biography information for Lord Kennedy of Southwark