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1145050

	registered interest
	date	05/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Housing: Prices
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential effect on house prices on Teesside of the UK leaving the EU without a withdrawal agreement.
	tabling member constituency	Stockton South
	tabling member printed	Dr Paul Williams
	uin	287605
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The Office for National Statistics (ONS) publishes monthly data on house prices by region. We have been very clear that we are focused on getting a deal, and hope that the EU will agree to negotiate changes to the withdrawal agreement. The fundamentals of the British economy are strong – wages are growing, employment is at a record high and the unemployment rate is at a historic low. Furthermore, we will continue to closely monitor any developments in economic risks to firms, sectors, and regions.</p><p>The Government and the Bank of England have the policy tools available, and are ready to deliver the necessary response to a No Deal exit.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 13:58:47 answering member 4051 label Biography information for John Glen
	tabling member	4666 label Biography information for Dr Paul Williams

1145054

	registered interest
	date	05/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Exchange Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect on the exchange rate of Sterling with the Euro in the event that the UK leaves the EU without a withdrawal agreement.
	tabling member constituency	Stockton South
	tabling member printed	Dr Paul Williams
	uin	287609
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>It is not appropriate for the government to comment on specific currency market movements.</p><p> </p><p>The government accepts the market-based price of sterling and does not have a view on what level this should be. Moreover, speculating on the value of sterling could hurt confidence in our macroeconomic framework.</p><p> </p><p>It is important to remember that the UK’s macroeconomic framework is based on an inflation target, and it is for the independent Monetary Policy Committee to set monetary policy to meet this target.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 14:00:05 answering member 4051 label Biography information for John Glen
	tabling member	4666 label Biography information for Dr Paul Williams

1144727

	registered interest
	date	04/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Unions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to expand the credit union sector; and if he will make a statement.
	tabling member constituency	Harrow West
	tabling member printed	Gareth Thomas
	uin	286605
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The government is committed to supporting credit unions, which contribute to the diversity of the UK’s financial services sector and provide vital services to financially under-served communities.</p><p> </p><p>At Autumn Budget 2018, the Chancellor announced a pilot of a new prize-linked savings scheme offered through credit unions. This will support the credit union sector through increased membership, awareness and deposits, as well as encouraging participants to build up savings to help them cope with financial shocks.</p><p> </p><p>At Autumn Budget 2018 the Chancellor also announced a new £2 million challenge fund to promote innovative solutions from the UK’s Fintech sector to address challenges faced by social and community lenders, including credit unions.</p><p> </p><p>In July 2019 the Government made it easier for Registered Social Landlords to refer tenants to social and community lenders, including credit unions. This should help encourage Registered Social Landlords to grow and develop existing new partnerships with credit unions.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:38:02 answering member 4051 label Biography information for John Glen
	tabling member	177 label Biography information for Gareth Thomas

1144212

	registered interest
	date	03/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Elysian Fuels
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that constituents in Crewe and Nantwich constituency that were mis-sold investments in Elysian Fuels by James Hay will be compensated.
	tabling member constituency	Crewe and Nantwich
	tabling member printed	Laura Smith
	uin	286345
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>Consumers with complaints of this kind may be able to refer their complaint to the Financial Ombudsman Service (FOS).</p><p> </p><p>The FOS is an independent, non-governmental body, established to provide for the proportionate, prompt and informal resolution of consumer complaints against financial services firms. Whether or not an individual complaint can be taken to the FOS will ultimately depend on the individual details. The eligibility of a complaint would be a matter for the FOS to consider.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:34:51 answering member 4051 label Biography information for John Glen
	tabling member	4648 label Biography information for Laura Smith

1144384

	registered interest
	date	03/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money Laundering: British Overseas Territories and Crown Dependencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to (a) tackle Money Laundering and (b) promote ethical financing in the Crown Dependencies and the UK’s Overseas Territories.
	tabling member constituency	North East Fife
	tabling member printed	Stephen Gethins
	uin	286286
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The UK’s Crown Dependencies and Overseas Territories are self-governing jurisdictions with their own democratically-elected governments responsible for most areas of their domestic policy, including fiscal matters. They co-operate with the UK in matters relating to taxation, fighting financial crime and countering terrorist finance.</p><p> </p><p>The Crown Dependencies and Overseas Territories have committed to meeting the global standards for anti-money laundering and counter terrorist financing set by the Financial Action Task Force (FATF). They are evaluated by the FATF in their own rights as self-governing jurisdictions.</p><p> </p><p>The Crown Dependencies and Overseas Territories with financial centres share beneficial ownership information with the UK’s law enforcement agencies and are committed to global tax transparency standards such as the OECD Common Reporting Standard, an agreement to automatically exchange financial account information with other jurisdictions.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 13:58:35 answering member 4051 label Biography information for John Glen
	tabling member	4434 label Biography information for Stephen Gethins

1144385

	registered interest
	date	03/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money Laundering: British Overseas Territories and Crown Dependencies
	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 risk of the misuse of financial investment treaties to launder money in the Crown Dependencies and the UK’s Overseas Territories.
	tabling member constituency	North East Fife
	tabling member printed	Stephen Gethins
	uin	286287
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The government assesses a range of money laundering and terrorist financing risks to the UK through the joint Treasury and Home Office National Risk Assessment (NRA). This includes considering risks in other jurisdictions that may facilitate money laundering or terrorist financing activity in the UK. The last NRA was published in October 2017 and can be found here: <a href="https://www.gov.uk/government/publications/national-risk-assessment-of-money-laundering-and-terrorist-financing-2017" target="_blank">https://www.gov.uk/government/publications/national-risk-assessment-of-money-laundering-and-terrorist-financing-2017</a>. The next NRA will be published by July 2020.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 12:49:09 answering member 4051 label Biography information for John Glen
	tabling member	4434 label Biography information for Stephen Gethins

1144492

	registered interest
	date	03/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Chronic Illnesses
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the number of people affected by terminal illness who are unable to claim their personal pensions early.
	tabling member constituency	Blackpool South
	tabling member printed	Gordon Marsden
	uin	286104
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The government does not hold this data.</p><p> </p><p>Subject to scheme rules, individuals may be able to make early withdrawals from their personal pension in the event that they are expected to live less than a year. These withdrawals can be made free of tax provided certain conditions are met.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:37:49 answering member 4051 label Biography information for John Glen
	tabling member	465 label Biography information for Gordon Marsden

1142701

	registered interest
	date	02/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Overseas Loans: Registration
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions he has had with the Secretary of State for International Development on establishing an Overseas Loan Transparency Register to ensure that people using UK law in loan contracts are not able to make secret loans to governments in the Global South.
	tabling member constituency	Hayes and Harlington
	tabling member printed	John McDonnell
	uin	284204
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The Chancellor of the Exchequer has not discussed proposals to establish an “Overseas Loan Transparency Register” with the Secretary of State for International Development.</p><p> </p><p>The UK Government is concerned about the sustainability and transparency of loans to low income developing countries. Given the complex international nature of sovereign debt, we continue to believe that internationally-agreed approaches are the most effective way to promote sovereign debt transparency.</p><p> </p><p>The UK is working through the G20 to monitor an industry-led initiative by the Institute of International Finance (IIF) to improve the transparency of lending of private creditors. The work of the IIF was acknowledged by finance ministers in June at the G20 finance ministers’ summit in Fukuoka, and the UK government will be closely monitoring its progress.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:46:52 answering member 4051 label Biography information for John Glen
	tabling member	178 label Biography information for John McDonnell

1142715

	registered interest
	date	02/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Investment Income
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what reports he has received on the level of the practice of dividend arbitrage; and what steps he is taking to end dividend arbitrage.
	tabling member constituency	Hayes and Harlington
	tabling member printed	John McDonnell
	uin	284235
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The Financial Conduct Authority published requirements for firms relating to dividend arbitrage in Market Watch 52, along with a summary of the findings of a review of firms engaged in the practice. These requirements are designed to ensure that firms maintain effective systems and controls to ensure they are not used to facilitate market abuse, or are used for a purpose connected with financial crime.</p><p> </p><p>The UK is taking a leading role internationally in preventing the use of these practices for illicit purposes and I am working closely with the Financial Conduct Authority to ensure that these practices are not used to facilitate market abuse.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:31:16 answering member 4051 label Biography information for John Glen
	tabling member	178 label Biography information for John McDonnell

1142864

	registered interest
	date	02/09/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Conduct Authority: Conduct
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment has been made of the potential merits of an independent inquiry into the conduct of the FCA prior to the collapse of Lendy.
	tabling member constituency	Cambridge
	tabling member printed	Daniel Zeichner
	uin	284368
	answer	answer is ministerial correction date of answer 09/09/2019 answer text <p>The Government has made no such assessment at this time. The operationally independent Financial Conduct Authority has an ongoing investigation into the circumstances that led to the administration of Lendy, and it would be inappropriate for the Government to pre-empt its findings.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/09/2019 11:27:31 answering member 4051 label Biography information for John Glen
	tabling member	4382 label Biography information for Daniel Zeichner