Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1503270

	registered interest
	date	26/08/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Electronic Funds Transfer: Fraud
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if she will make an estimate of the value of funds lost to push payment fraud in each of the last five years.
	tabling member constituency	East Renfrewshire
	tabling member printed	Kirsten Oswald
	uin	44930
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The Government recognises the growing threat posed to consumers by Authorised Push Payment (APP) fraud, with increasingly sophisticated scams that can be detrimental to people’s lives. The Government is committed to tackling fraud within payments networks. That is why the Government has introduced legislation as part of the Financial Services &amp; Markets Bill to enable the PSR to require payment service providers to reimburse APP scam victims. The Government believes this will ensure more consistent and comprehensive reimbursement for future APP scam victims.</p><p> </p><p>Currently, data relating to the amounts lost and returned following APP scams is collected by the Payment Systems Regulator (PSR) and by UK Finance. The latter regularly issues this data in publications such as its Annual Fraud Report: in 2021 for instance, UK Finance recorded gross annual losses of roughly £583 million, an increase of 39% by value over 2020, of which roughly £271 million (46%) was returned to victims. Due to changes in how APP scams are identified and reported, UK Finance note that data for years prior to 2020 is not directly comparable. More comprehensive data on APP scams can be found in UK Finance’s 2022 Fraud Report:</p><p> </p><p><a href="http://www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2022" target="_blank">www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2022</a></p><p> </p><p>More specific data regarding the impact of APP scams on individual payment service providers does not usually form a part of these publications. However, as detailed in its 2021 consultation on APP scams, the PSR has proposed requiring the 12 largest groups of UK payment service providers (including the main High Street banks) to publish a balanced scorecard of APP scam data on a six-monthly basis, setting out their individual performance in relation to APP scams. This would include their APP scam rates, their rates of reimbursement for customers scammed, as well as comparative data on the providers receiving APP scam payments. The PSR expect the provision of this data to provide strong reputational incentives on payment service providers to reduce APP scam losses incurred by consumers, both through preventing APP scams and reimbursing those who are scammed. The PSR will respond to this consultation in due course.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 44931 45864 question first answered 20/09/2022 13:31:38 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4413 label Biography information for Kirsten Oswald

1503271

	registered interest
	date	26/08/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Electronic Funds Transfer: Fraud
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what (a) value and (b) proportion of funds lost due to push payment fraud have been repaid to consumers in each of the last five years.
	tabling member constituency	East Renfrewshire
	tabling member printed	Kirsten Oswald
	uin	44931
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The Government recognises the growing threat posed to consumers by Authorised Push Payment (APP) fraud, with increasingly sophisticated scams that can be detrimental to people’s lives. The Government is committed to tackling fraud within payments networks. That is why the Government has introduced legislation as part of the Financial Services &amp; Markets Bill to enable the PSR to require payment service providers to reimburse APP scam victims. The Government believes this will ensure more consistent and comprehensive reimbursement for future APP scam victims.</p><p> </p><p>Currently, data relating to the amounts lost and returned following APP scams is collected by the Payment Systems Regulator (PSR) and by UK Finance. The latter regularly issues this data in publications such as its Annual Fraud Report: in 2021 for instance, UK Finance recorded gross annual losses of roughly £583 million, an increase of 39% by value over 2020, of which roughly £271 million (46%) was returned to victims. Due to changes in how APP scams are identified and reported, UK Finance note that data for years prior to 2020 is not directly comparable. More comprehensive data on APP scams can be found in UK Finance’s 2022 Fraud Report:</p><p> </p><p><a href="http://www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2022" target="_blank">www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2022</a></p><p> </p><p>More specific data regarding the impact of APP scams on individual payment service providers does not usually form a part of these publications. However, as detailed in its 2021 consultation on APP scams, the PSR has proposed requiring the 12 largest groups of UK payment service providers (including the main High Street banks) to publish a balanced scorecard of APP scam data on a six-monthly basis, setting out their individual performance in relation to APP scams. This would include their APP scam rates, their rates of reimbursement for customers scammed, as well as comparative data on the providers receiving APP scam payments. The PSR expect the provision of this data to provide strong reputational incentives on payment service providers to reduce APP scam losses incurred by consumers, both through preventing APP scams and reimbursing those who are scammed. The PSR will respond to this consultation in due course.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 44930 45864 question first answered 20/09/2022 13:31:38 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4413 label Biography information for Kirsten Oswald

1503346

	registered interest
	date	02/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Regulation
	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 help ensure the independence of financial services regulators.
	tabling member constituency	Putney
	tabling member printed	Fleur Anderson
	uin	45033
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The legislative framework underpinning financial services regulation in the UK provides for the regulators to be independent of government in their operational decisions.</p><p> </p><p>Following the Future Regulatory Framework Review the regulators will take on significant new rulemaking responsibilities. It is important to balance these new responsibilities for the independent regulators with clear accountability, appropriate democratic input, and transparent oversight. Through the Financial Services and Markets Bill the government is bringing forward measures to achieve this balance.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 20/09/2022 13:53:34 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4788 label Biography information for Fleur Anderson

1503347

	registered interest
	date	02/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what impact assessment the Government has carried out on the impact of Solvency II reforms on pensions.
	tabling member constituency	Putney
	tabling member printed	Fleur Anderson
	uin	45035
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The Government is committed to ensuring that the insurance regime remains a safe home for people’s pensions. As well as that, UK insurers remain internationally competitive.</p><p><strong> </strong></p><p>The Treasury's consultation on the prudential regulatory regime for insurers known as Solvency II closed on 21 July 2022. It included questions seeking evidence of the impact reforms would have on policyholder protection and annuity prices as well as other objectives, including investment for growth. The Government will set out its assessment of this evidence when it publishes a response to the consultation later this calendar year.</p><p> </p><p>The Solvency II consultation document can be found here: <a href="https://www.gov.uk/government/consultations/solvency-ii-review-consultation" target="_blank">https://www.gov.uk/government/consultations/solvency-ii-review-consultation</a></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 20/09/2022 14:25:06 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4788 label Biography information for Fleur Anderson

1503551

	registered interest
	date	02/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Rural Areas
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he plans to take through the Financial Markets and Services Bill to protect access to in-person banking services for rural communities such as Harpenden.
	tabling member constituency	Hitchin and Harpenden
	tabling member printed	Bim Afolami
	uin	45249
	answer	answer is ministerial correction date of answer 21/09/2022 answer text <p>The Government believes that all customers, wherever they live, should have appropriate access to banking services.</p><p> </p><p>As part of the Financial Services and Markets Bill 2022, the Government has introduced legislation to protect access to cash. The Bill protects access to cash by establishing the Financial Conduct Authority as the lead regulator and providing it with appropriate powers to ensure reasonable provision of withdrawal and deposit facilities.</p><p> </p><p>More broadly against the background of changing technology, decisions on opening and closing branches are a commercial decision for banks and building societies. However, the Government recognises that in-person access to banking services continues to be important for some customers. FCA Guidance is clear that firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements.</p><p> </p><p>For consumers and SMEs wishing to access over-the-counter services, the Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to carry out their everyday banking at 11,500 Post Office branches in the UK.</p><p> </p><p>Firms are also working together through the Cash Action Group to develop new initiatives to provide shared services including Bank Hubs. The Government welcomes the direction set by industry’s commitments and looks forward to seeing what results they deliver in protecting facilities for local communities across the UK.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 21/09/2022 13:27:25 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4639 label Biography information for Bim Afolami

1503623

	registered interest
	date	02/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	First Time Buyers: Mortgages
	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 merits of encouraging mortgage lenders to use rental payments as proof of affordability for younger people applying for a mortgage to purchase a first home.
	tabling member constituency	Chatham and Aylesford
	tabling member printed	Tracey Crouch
	uin	45313
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The Government is committed to helping as many first-time buyers as possible get onto the housing ladder and agrees that a history of paying rent should be able to help with this.</p><p> </p><p>In 2017, the Government launched the Rent Recognition Challenge: a £2 million competition challenging the UK’s world-leading tech firms to develop innovative applications to enable tenants to record and share their rental payment data with lenders and credit reference agencies. The three winners of the challenge (CreditLadder, Bud and RentalStep) are now all using technology to verify and record tenants’ rental payments. Since launching their rent recognition service, CreditLadder has recorded over £600 million in users’ rental payments.</p><p> </p><p>The Government will continue to work with mortgage lenders and others to encourage rent track record is used in lending decisions.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 20/09/2022 15:37:30 answering member 4874 label Biography information for Andrew Griffith
	tabling member	3950 label Biography information for Dame Tracey Crouch

1503935

	registered interest
	date	02/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Treasury: EU Law
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many officials in their Department are working on Retained EU Law legislation.
	tabling member constituency	Dundee East
	tabling member printed	Stewart Hosie
	uin	45580
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>We can confirm that HM Treasury does not hold information within the scope of your request.</p><p> </p><p>HMT holds a large body of Retained EU Law (REUL), primarily in relation to Financial Services. A number of officials from across HMT work on REUL legislation. This work is carried out as part of officials’ normal business activities, and we do not record the amount of staff time spent specifically on this work.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 20/09/2022 13:34:04 answering member 4874 label Biography information for Andrew Griffith
	tabling member	1514 label Biography information for Stewart Hosie

1504251

	registered interest
	date	02/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Electronic Funds Transfer: Fraud
	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 which banks have been impacted by push payment fraud (a) as a percentage of the impact as a whole, (b) over each of the past five years, in terms of (i) being host to the accounts where funds have been lost to this fraud, and (ii) being the host bank of accounts perpetrating this fraud.
	tabling member constituency	East Renfrewshire
	tabling member printed	Kirsten Oswald
	uin	45864
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The Government recognises the growing threat posed to consumers by Authorised Push Payment (APP) fraud, with increasingly sophisticated scams that can be detrimental to people’s lives. The Government is committed to tackling fraud within payments networks. That is why the Government has introduced legislation as part of the Financial Services &amp; Markets Bill to enable the PSR to require payment service providers to reimburse APP scam victims. The Government believes this will ensure more consistent and comprehensive reimbursement for future APP scam victims.</p><p> </p><p>Currently, data relating to the amounts lost and returned following APP scams is collected by the Payment Systems Regulator (PSR) and by UK Finance. The latter regularly issues this data in publications such as its Annual Fraud Report: in 2021 for instance, UK Finance recorded gross annual losses of roughly £583 million, an increase of 39% by value over 2020, of which roughly £271 million (46%) was returned to victims. Due to changes in how APP scams are identified and reported, UK Finance note that data for years prior to 2020 is not directly comparable. More comprehensive data on APP scams can be found in UK Finance’s 2022 Fraud Report:</p><p> </p><p><a href="http://www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2022" target="_blank">www.ukfinance.org.uk/policy-and-guidance/reports-and-publications/annual-fraud-report-2022</a></p><p> </p><p>More specific data regarding the impact of APP scams on individual payment service providers does not usually form a part of these publications. However, as detailed in its 2021 consultation on APP scams, the PSR has proposed requiring the 12 largest groups of UK payment service providers (including the main High Street banks) to publish a balanced scorecard of APP scam data on a six-monthly basis, setting out their individual performance in relation to APP scams. This would include their APP scam rates, their rates of reimbursement for customers scammed, as well as comparative data on the providers receiving APP scam payments. The PSR expect the provision of this data to provide strong reputational incentives on payment service providers to reduce APP scam losses incurred by consumers, both through preventing APP scams and reimbursing those who are scammed. The PSR will respond to this consultation in due course.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 44930 44931 question first answered 20/09/2022 13:31:38 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4413 label Biography information for Kirsten Oswald

1504362

	registered interest
	date	02/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Economic Situation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the strength of the UK economy.
	tabling member constituency	Newport West
	tabling member printed	Ruth Jones
	uin	46118
	answer	answer is ministerial correction date of answer 21/09/2022 answer text <p>The economy grew by 0.8% in Q1, faster than the United States, France, Germany and Italy.</p><p> </p><p>Unemployment is at a near 50-year low of 3.8% for the three months to June, with the total number of pay rolled employees consistently above pre-pandemic levels.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 21/09/2022 15:03:46 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4716 label Biography information for Ruth Jones

1504375

	registered interest
	date	02/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts: Southern Africa
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, in the context of remarks made by Anglican Bishops at the recent Lambeth Conference, what assessment he has made of the potential merits of cancelling debts owed by countries in southern Africa that are facing food shortages.
	tabling member constituency	Glasgow North
	tabling member printed	Patrick Grady
	uin	45883
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The Government recognises the significant debt vulnerabilities in developing countries and the critical challenge posed by food insecurity and is working closely with international partners to address these issues.</p><p> </p><p>The UK, along with the G20 and Paris Club, agreed a new Common Framework for Debt Treatments beyond the DSSI (CF), which was designed to help deliver a long-term, sustainable approach for supporting low-income countries facing debt vulnerabilities. 73 of the most vulnerable countries are eligible to request a debt treatment under the Framework and our priority is to work with our G20 partners to implement it quickly for those who have requested it and support new countries who come forward.</p><p> </p><p>The UK also continues to work with the international community to directly support countries affected by the food security crisis. For example, the UK played a leading role in securing the World Bank’s commitment of $12 billion of new projects in the next 15 months to respond to the food security crisis, on top of $18 billion of existing projects.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 20/09/2022 13:43:24 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4432 label Biography information for Patrick Grady