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1547362

	registered interest
	date	01/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Inflation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions his Department has had with the Bank of England on meeting the two per cent inflation target.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	100906
	answer	answer is ministerial correction date of answer 07/12/2022 answer text <p>The Chancellor is fully committed to the independence of the Monetary Policy Committee (MPC) in setting monetary policy, and has no plans to review this. At Autumn Statement on 17 November, the Chancellor re-affirmed the MPC’s remit and primary target of achieving 2% CPI year on year, and stated that this government will not change the definition of price stability.</p><p> </p><p>The Chancellor and the Governor of the Bank of England remain in close contact to ensure that monetary and fiscal policy are coordinated. The government also continually monitors economic developments, including inflation, to consider their impact on businesses and households. The government does not comment on the conduct or effectiveness of monetary policy.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 100907 100908 question first answered 07/12/2022 11:32:00 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1447 label Biography information for Andrew Rosindell

1547363

	registered interest
	date	01/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Monetary Policy: Inflation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department has made a recent assessment of the potential impact of quantitative easing on the rate of inflation.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	100907
	answer	answer is ministerial correction date of answer 07/12/2022 answer text <p>The Chancellor is fully committed to the independence of the Monetary Policy Committee (MPC) in setting monetary policy, and has no plans to review this. At Autumn Statement on 17 November, the Chancellor re-affirmed the MPC’s remit and primary target of achieving 2% CPI year on year, and stated that this government will not change the definition of price stability.</p><p> </p><p>The Chancellor and the Governor of the Bank of England remain in close contact to ensure that monetary and fiscal policy are coordinated. The government also continually monitors economic developments, including inflation, to consider their impact on businesses and households. The government does not comment on the conduct or effectiveness of monetary policy.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 100906 100908 question first answered 07/12/2022 11:32:00 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1447 label Biography information for Andrew Rosindell

1547364

	registered interest
	date	01/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank of England: Monetary Policy
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department plans to undertake a review of the autonomy of the Bank of England on monetary policy.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	100908
	answer	answer is ministerial correction date of answer 07/12/2022 answer text <p>The Chancellor is fully committed to the independence of the Monetary Policy Committee (MPC) in setting monetary policy, and has no plans to review this. At Autumn Statement on 17 November, the Chancellor re-affirmed the MPC’s remit and primary target of achieving 2% CPI year on year, and stated that this government will not change the definition of price stability.</p><p> </p><p>The Chancellor and the Governor of the Bank of England remain in close contact to ensure that monetary and fiscal policy are coordinated. The government also continually monitors economic developments, including inflation, to consider their impact on businesses and households. The government does not comment on the conduct or effectiveness of monetary policy.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 100906 100907 question first answered 07/12/2022 11:32:00 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1447 label Biography information for Andrew Rosindell

1564398

	registered interest
	date	06/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Banks: Incentives
	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 impact of uncapping bankers bonuses on tax revenue.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	117493
	answer	answer is ministerial correction date of answer 11/01/2023 answer text <p>The removal of the banker’s bonus cap is a rule change being proposed by the independent Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA). As such HM Treasury has not assessed the impact of removing this cap on tax revenue.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 11/01/2023 15:56:53 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1447 label Biography information for Andrew Rosindell

1599516

	registered interest
	date	27/02/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Government Securities
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many and what proportion of UK gilts are held by (a) foreign central banks and (b) banks located in the People's Republic of China as of 27 February 2023.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	153714
	answer	answer is ministerial correction date of answer 06/03/2023 answer text <p>The gilt market is deep and liquid and is supported by a generally well-diversified investor base, including domestic and foreign investors.</p><p> </p><p>The Office for National Statistics (ONS) publishes data on the broad breakdowns of the underlying owners of UK government debt as part of the UK Economic Accounts, published quarterly. The ONS, however, does not provide a domicile breakdown of where UK debt is held overseas, so it is not possible to observe the specific amount of gilt holdings by sub-groups of overseas investors.</p><p> </p><p>The latest available ONS data can be found here:</p><p><a href="https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.ons.gov.uk%2Feconomy%2Fnationalaccounts%2Fuksectoraccounts%2Fdatasets%2Funitedkingdomeconomicaccountssectorgeneralgovernment&amp;data=05%7C01%7CSanjana.Gopy%40hmtreasury.gov.uk%7Ca7c8cf8c57f04689616908db199bd80a%7Ced1644c505e049e6bc39fcf7ac51c18c%7C0%7C0%7C638131929348550591%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=pDVpSN%2BhH3uExuwhtFNPag%2Fon8vsEFY7zxgBeBhgRSA%3D&amp;reserved=0" target="_blank">https://www.ons.gov.uk/economy/nationalaccounts/uksectoraccounts/datasets/unitedkingdomeconomicaccountssectorgeneralgovernment</a>.</p><p> </p><p>More generally, gilts are largely held in nominee accounts and holdings of underlying beneficial owners are therefore not identifiable.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 06/03/2023 11:53:42 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1447 label Biography information for Andrew Rosindell

1649319

	registered interest
	date	30/06/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Help to Buy Scheme and Individual Savings Accounts
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he plans to take steps to review the (a) Lifetime ISA and (b) help-to-buy property price thresholds.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	191895
	answer	answer is ministerial correction date of answer 05/07/2023 answer text <p>The Government is committed to supporting people of all incomes and at all stages of life to save, and to making the aspiration of home ownership a reality for as many households as possible.</p><p> </p><p>Data from the latest UK House Price Index demonstrates that the average price paid by first-time buyers is below the LISA property price cap in all regions of the UK except for Inner London, where the average price paid is affected by Boroughs with very high property values.</p><p> </p><p>The Government keeps all aspects of the savings tax regime under review.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 05/07/2023 13:07:51 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1447 label Biography information for Andrew Rosindell

1649320

	registered interest
	date	30/06/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Individual Savings Accounts: Fees and Charges
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department plans to reduce the Lifetime ISA withdrawal penalty.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	191896
	answer	answer is ministerial correction date of answer 05/07/2023 answer text <p>The LISA is designed to support people to achieve the aspiration of homeownership, or to build up savings for their later life. LISA funds, including any Government bonus, can be withdrawn for the purchase of a first home under £450,000, in the case of terminal illness or from the age of 60.</p><p> </p><p>Although the government recognises that some individuals may wish to access their LISA savings for purposes other than those listed above, the Government considers that the charge is needed to protect the LISA’s status as a long-term savings product.</p><p> </p><p>Removing or reducing the withdrawal charge would not be consistent with this and would encourage the use of LISAs in ways for which they were not intended.</p><p> </p><p>The Government keeps all aspects of the savings tax regime under review.</p><p><strong> </strong></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 05/07/2023 13:05:55 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1447 label Biography information for Andrew Rosindell

1654639

	registered interest
	date	20/07/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Interest Rates
	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 help support homeowners who are unable to make mortgage payments following increases in interest rates in the last 12 months.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	195347
	answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The pricing of mortgages is a commercial decision for lenders in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers.</p><p> </p><p>On Friday 23 June the Chancellor met with the UK’s largest mortgage lenders, UK Finance and the Financial Conduct Authority to discuss how lenders will provide support for those who encounter problems keeping up with their mortgage payments. At this meeting, lenders agreed to a new Mortgage Charter to support borrowers struggling with their mortgage payments that was published on 26 June. The Charter sets out the standards signatory lenders will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period.</p><p> </p><p>The Charter is in addition to the significant safeguards already in place for consumers in the mortgage market. Financial Conduct Authority rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. The Government has also taken measures aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans, and protection in the courts through the Pre-Action Protocol.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 06/09/2023 15:37:45 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1447 label Biography information for Andrew Rosindell

1523541

	registered interest
	date	18/10/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Local Government Finance: Havering
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make it his policy to increase funding for the London Borough of Havering.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	65654
	answer	answer is ministerial correction date of answer 25/10/2022 answer text <p>Spending Review 2021 provided councils with £1.6 billion of new grant funding in each year between 2022-23 and 2024-25 to meet pressures in social care and other local services, resulting in £4.8 billion of additional grant in total over the three years. This represents the largest annual increases in core funding for local authorities in over a decade.</p><p>The 2022-23 Local Government Finance Settlement makes available an additional £3.7 billion to councils in total, including funding for adult social care reform. Funding allocations for future years will be confirmed by the Department for Levelling Up, Housing and Communities in due course.</p> answering member constituency Charnwood answering member printed Edward Argar question first answered 25/10/2022 11:16:22 answering member 4362 label Biography information for Edward Argar
	tabling member	1447 label Biography information for Andrew Rosindell

1006213

	registered interest
	date	13/11/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Expenditure
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what comparative assessment he has made of spending on public services in the UK and other EU member states.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	190822
	answer	answer is ministerial correction date of answer 20/11/2018 answer text <p>The level and direction of spending on public services is set according to the government’s priorities at periodic Spending Reviews and at fiscal events.</p><p><strong> </strong></p><p>These decisions are supported by extensive evidence, including when appropriate international comparisons and examples of best practice and innovation.</p><p> </p><p>At last month’s Budget the Chancellor set out a 5-year funding plan for the NHS and £84bn additional spending. The Chancellor will set out spending plans for other public services at a Spending Review next year.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 20/11/2018 14:44:36 answering member 4097 label Biography information for Elizabeth Truss
	tabling member	1447 label Biography information for Andrew Rosindell