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1198867

	registered interest
	date	01/06/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Wonga
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many claims for refunds from Wonga customers who were mis-sold higher risk loans remain outstanding; and if he will make an assessment of the potential merits of providing support from the public purse to those customers who only received 4.3 per cent of the compensation due to them.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	52558
	answer	answer is ministerial correction date of answer 04/06/2020 answer text <p>When a firm enters administration, assets are pooled and used to cover customer redress claims and administration costs. In the case of Wonga, the pooled assets are not sufficient to meet all of the redress claims. The administrator, Grant Thornton UK LLP, is therefore unable to pay out 100% of these claims and must address claims in order of the creditor hierarchy. The number of redress claims and the amounts due in the case of Wonga is a matter for the administrators.</p><p>The Financial Conduct Authority (FCA), who regulate payday loans, has the power to decide which activities are given Financial Services Compensation Scheme (FSCS) protection. In 2016, the FCA decided not to extend FSCS protection to most consumer credit activities because it believed other regulatory requirements were sufficient. The full reasoning behind the FCA’s decision is set out in a letter from their Chief Executive to the Chair of the Treasury Select Committee on 15 February 2019.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/06/2020 09:53:47 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1244687

	registered interest
	date	19/10/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts Written Off: Developing Countries
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make representations to his overseas counterparts at the G20 Finance Ministers Meetings on the cancellation of developing countries' debts to the IMF and World Bank to help those countries tackle the covid-19 pandemic.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	105566
	answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Government is closely monitoring the impact of the crisis on the debt situation in developing countries, including through our membership of the International Monetary Fund, World Bank and Paris Club. It is clear that the COVID-19 pandemic is placing extraordinary pressures on the finances of low and middle income countries. Recognising this, the G20 has taken action to support these countries, agreeing the landmark DSSI (Debt Service Suspension Initiative).The DSSI provides a suspension of debt repayments to eligible countries so they can focus resources on their coronavirus response.</p><p>On the 14<sup>th</sup> October, the G20 Finance Ministers and Central Bank Governors (FMCBG) met. They agreed to extend the DSSI for a further six months and, importantly, reached an in principle agreement on a Common Framework on future debt treatments beyond the DSSI to facilitate timely and orderly debt treatment for DSSI-eligible countries where this is required.A further G20 FMCBG meeting is to take place in early November and the UK is asking all G20 countries to fulfil the necessary internal approvals to endorse and publish the Common Framework in due course.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:19:16 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1239663

	registered interest
	date	01/10/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts Written Off: Developing Countries
	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 merits of (a) debt cancellation for lower-income countries from Governments, the IMF and World Bank, the private sector and all other creditors for 2020 and 2021 and (b) bringing forward legislative proposals similar to the Debt Relief (Developing Countries) Act 2010 to enforce on the private sector the terms of an international agreement for debt relief.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	98290
	answer	answer is ministerial correction date of answer 06/10/2020 answer text <p>The Government is concerned about the debt vulnerabilities of low-income developing countries, which have been exacerbated by the COVID-19 pandemic.</p><p> </p><p>The UK cancelled most of our low-income developing country debt under the Heavily Indebted Poor Countries (HIPC) Initiative. However, we have remained a global leader in advancing sovereign debt transparency and sustainability. In April 2020 the Chancellor joined his G20 counterparts to commit to a temporary suspension on debt service repayments from the 77 poorest countries under the debt service suspension initiative (DSSI). To date, the DSSI has supported 43 countries which have requested suspensions by freeing up $5 billion to fund their COVID-19 responses. Given the depth of liquidity needs in these countries, the UK supports an extension of the DSSI into 2021.</p><p> </p><p>The G20 agreed private sector DSSI participation should be voluntary and at borrowers’ discretion. The Government continues to support this approach, which helps protect these countries’ hard-won market access which will be essential for financing COVID recovery. Where borrowers do make requests, private creditors should implement the DSSI. Where sovereign debt reductions are necessary, it will be important for there to be fair and timely burden sharing between all creditor types, including commercial creditors.</p> answering member constituency Salisbury answering member printed John Glen question first answered 06/10/2020 12:51:11 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1252782

	registered interest
	date	17/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Uprating
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made on the potential effect of the retail prices index (RPI) review on RPI-linked pensions.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	116670
	answer	answer is ministerial correction date of answer 23/11/2020 answer text <p>The Retail Prices Index (RPI) is a measure of inflation with a number of shortcomings. To address these shortcomings, the UK Statistics Authority (UKSA) has made a proposal to reform RPI by bringing the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI. Owing to the use of RPI in specific index-linked gilts, prior to 2030 the Chancellor’s consent to this proposal is required before it can be implemented.</p><p> </p><p>At the Budget in March, the government and UKSA launched a consultation to consider whether UKSA’s proposal should be implemented at a date other than 2030, and, if so, when between 2025 and 2030. The consultation closed for responses on 21 August. As part of the consultation, the government sought views on the broader impacts of the proposed reform of RPI.</p><p> </p><p>The consultation document can be found at the following link: <a href="https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology" target="_blank">https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology</a>.</p><p> </p><p>As announced on 9 November, the government and UKSA will respond to the consultation alongside the Spending Review on 25 November.</p><p> </p><p>The 9 November announcement can be found at the following link: <a href="https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re" target="_blank">https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re</a>.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/11/2020 15:00:03 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1359238

	registered interest
	date	15/10/2021
	answering body	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 the Chancellor of the Exchequer, what assessment his Department has made of the potential merits of bringing forward legislative proposals to extend to the purchase of all financial products the 14-day cooling-off period applicable to some of those products.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	56249
	answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>Various laws give consumers rights to cooling off periods, including the Consumer Credit Act 1974 which provides a 14 day cooling off period in which to cancel a credit agreement, such as a personal loan. In addition, the Financial Services (Distance Marketing) Regulations 2004 set out that for most financial services sold at a distance, consumers generally have 14 days to cancel the contract. For some products, such as certain pension products, the period is 30 days.</p><p> </p><p>There are some financial products where the right to cancel doesn't apply, for example where the price of that service depends on fluctuations in the financial markets beyond the control of the product provider, or where the service purchased has been used in full.</p><p> </p><p>The Government keeps all legislation under review, working closely with the financial services regulators as appropriate.</p> answering member constituency Salisbury answering member printed John Glen question first answered 25/10/2021 13:52:50 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1363120

	registered interest
	date	25/10/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Ombudsman Service
	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 Financial Ombudsman Service on streamlining their complaints procedure to reduce the time taken for customer cases to be resolved.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	62879
	answer	answer is ministerial correction date of answer 28/10/2021 answer text <p>The Treasury regularly meets with the Financial Ombudsman Service (FOS) to discuss a variety of matters. For example, I meet regularly with the Chief Executive and the Chair of the FOS.</p><p> </p><p>Improving timeliness and customer service is central to the FOS’ plans for the future. The FOS’ Board has recently commissioned an independent review of the FOS, to ensure that the FOS can continue to effectively meet the needs of its customers. The results of the review will be published in due course.</p><p> </p><p>The FOS is an independent, non-governmental body. In view of this independence, it would not be appropriate for the Government to comment further on the detail of operational matters at the FOS.</p> answering member constituency Salisbury answering member printed John Glen question first answered 28/10/2021 08:44:58 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1337346

	registered interest
	date	16/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employment Income Support Scheme
	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 support recipients of grants from the Self-Employment Income Support Scheme who are being refused mortgages as a result of financial insecurity following the covid-19 outbreak.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	16962
	answer	answer is ministerial correction date of answer 21/06/2021 answer text <p>Up to 9 May, £24.5bn has been paid in Self Employed Income Support Scheme grants in total. Across the four schemes 2.8m individuals have received a grant and 8.8m total grants have been claimed.</p><p>Decisions concerning the pricing and availability of loans, including application requirements, remain commercial decisions for lenders and the Government does not seek to intervene. For individuals applying for new credit, it remains important that lenders are able to carry out proper checks to ensure that they are not lending in an unaffordable way, especially if, for example, a borrower’s income had not yet returned to the levels it was at pre Covid-19. Where an individual has been refused a mortgage with one provider, we would also urge them to shop around, recognising lenders do not all take the same approach to assessing affordability.</p> answering member constituency Salisbury answering member printed John Glen question first answered 21/06/2021 11:16:07 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1307211

	registered interest
	date	12/04/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Sudan
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what the Government's guidance is to UK-based banks on allowing money transfers to Sudan-based bank accounts.
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	179605
	answer	answer is ministerial correction date of answer 19/04/2021 answer text <p>HM Treasury is responsible for the Money Laundering Regulations, which set out the high-level requirements on regulated firms to combat money laundering and ensure that key professionals verify their customers’ identities.</p><p>The Regulations are not prescriptive in setting out how firms should carry out customer due diligence and instead require firms to take a proportionate approach commensurate with their assessment of the risk. Each firm will therefore have their own policies on identification and customer due diligence, including on when additional, more comprehensive checks should be undertaken.</p><p>Specific guidance on how banks should conduct customer due diligence is published by the Joint Money Laundering Steering Group. This includes guidance on assessing the money laundering and terrorist financing risk associated with individual countries.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/04/2021 08:54:26 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1337935

	registered interest
	date	17/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debt Respite Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of including universal credit advance payments in the Debt Respite Scheme (Breathing Space).
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	17855
	answer	answer is ministerial correction date of answer 22/06/2021 answer text <p>The breathing space scheme launched on 4 May 2021, and includes most personal debts and debts owed to Government, including Universal Credit overpayments. The Government considers that, for breathing space to be successful, it needs to include a wide range of debts.</p><p> </p><p>The Government recognises the importance of including all Universal Credit debts in breathing space, and is committed to including Universal Credit advances within the scheme as soon as possible.</p><p> </p><p>This will happen at a later date to ensure that the significant IT changes the Department for Work and Pensions needs to make do not compromise the safe delivery of Universal Credit, which is now supporting 6 million people. It has always been possible to defer repayments of Universal Credit Advances for 3 months in cases of hardship. In addition, from April 2021, the timeframe for the repayment of advances has been extended from 12 months to 24 months.</p> answering member constituency Salisbury answering member printed John Glen question first answered 22/06/2021 11:21:47 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1403448

	registered interest
	date	17/01/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Economic Cooperation: China
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will put on hold the 11th session of the UK-China Economic and Financial Dialogue in the context of the conclusions of the Uyghur Tribunal that the Uyghurs and other Turkic Muslims are subject to human rights abuses and Crimes Against Humanity.
	tabling member constituency	Bolton South East
	tabling member printed	Yasmin Qureshi
	uin	105452
	answer	answer is ministerial correction date of answer 20/01/2022 answer text <p>The UK has led international efforts to hold China to account for its human rights violations in Xinjiang at the UN. We have imposed sanctions, including asset freezes and travel bans, on senior Chinese officials and taken steps to help ensure that no UK organisations are complicit in these violations through their supply chains.</p><p>However, we can also pursue an economic relationship with China in a safe, mutually beneficial way without compromising our values. UK-China Economic and Financial Dialogues (EFDs) provide a key mechanism for doing this. We have always been clear that our economic relationship does not come at the expense of human rights, and where we have concerns, we will continue to speak out and act.</p> answering member constituency Salisbury answering member printed John Glen question first answered 20/01/2022 14:17:27 answering member 4051 label Biography information for John Glen
	tabling member	3924 label Biography information for Yasmin Qureshi