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1418790

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions and correspondence his Department has had with the National Crime Agency on fraud in the coronavirus business support schemes in the last three months.
	tabling member constituency	Erith and Thamesmead
	tabling member printed	Abena Oppong-Asare
	uin	116080
	answer	answer is ministerial correction date of answer 04/02/2022 answer text <p>HMT officials regularly engage with the National Crime Agency to discuss shared policy interests, such as the response to fraud. This includes through the Economic Crime Strategic Board, through which the government, regulators, law enforcement, and industry discuss and drive forward the UK’s overall response to economic crime. The NCA and the Treasury are also members of a monthly cross-government Counter-Fraud Board on Bounce Back Loans.</p><p> </p><p>The government also continues to work actively with the British Business Bank, lenders, and fraud authorities to recover loans obtained fraudulently. This work has been supported by the Cabinet Office Counter Fraud Function to better identify the level and types of fraud against the scheme.</p><p>We are working with enforcement bodies including the National Investigation Service to investigate the most serious cases of fraud and we have always been clear that anyone who defrauds the scheme is at risk of prosecution. The National Investigation Service have recovered £3.1 million so far.</p><p> </p><p>The NCA is an operationally independent agency and has not been prevented from investigating frauds against the Bounce Back Loans scheme or any other Covid-19 support scheme.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/02/2022 14:51:25 answering member 4051 label Biography information for John Glen
	tabling member	4820 label Biography information for Abena Oppong-Asare

1418856

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Coronavirus
	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 (a) Coronavirus Job Retention Scheme, (b) Self Employment Income Support Scheme, (c) Eat out to Help Out, (d) Coronavirus Business Interruption Loan Scheme, (e) Bounce Back Loan Scheme and (f) Coronavirus Large Business Interruption Loan Scheme payments that involved fraud cannot be recovered by his Department due to erroneous registration data.
	tabling member constituency	Glasgow Central
	tabling member printed	Alison Thewliss
	uin	115941
	answer	answer is ministerial correction date of answer 04/02/2022 answer text <p>The Government has provided around £400 billion of direct support for the economy since the start of the pandemic, which has helped to safeguard jobs, businesses and public services in every region and nation of the UK.</p><p>The Government takes the issue of potential fraud relating to covid support schemes extremely seriously. Robust measures were put in place to control error and fraud in the key covid support schemes from their inception.</p><p> </p><p>In relation to the Coronavirus Job Retention Scheme (CJRS) and Self-Employment Income Support Scheme (SEISS), HMRC prioritised getting money to those who needed it with the schemes designed to minimise fraud while not unnecessarily delaying payments. The schemes were designed to prevent fraud, both in the eligibility criteria and the claim process itself.</p><p> </p><p>As recovering funds lost to organised criminals is especially difficult, HMRC prioritised tackling this risk before payments were made. Eligibility has been limited to employees and the self-employed who already had a tax footprint, which gives HMRC greater confidence these are not ‘bogus’ claims falsified to look like real businesses. HMRC also put in place a series of checks on claims before they are paid so that HMRC were able to block those that are highly indicative of criminal activity. In addition, HMRC is able to investigate suspect payments that did not meet the threshold for pre-payment blocks post-payment, using their full range of civil and criminal powers and tools.</p><p> </p><p>In relation to the CJRS specifically, HMRC ensured that the claims service captured all the data necessary to enable post payment compliance and only accepted claims from employers known to and authenticated by HMRC. HMRC have actively prevented non-eligible employers from applying. Claimants are required to provide details of who has been furloughed and for how long, providing HMRC with clear data against which to make checks.</p><p> </p><p>Regarding the SEISS, claimants had to have made a 2018/19 self-assessment tax return in order to claim grants 1 to 3 and a 2019/20 tax return to claim grants 4 and 5. The amount they claim is based on tax returns previously submitted to HMRC. In addition, compliance activity is underway in respect of those claimants who have indicated on their tax returns that their self-employment has ceased but claimed a SEISS grant. If HMRC identify grants have been claimed when the person is not eligible, then recovery of the overpaid amounts is undertaken, with appropriate penalties being issued to those most egregious of cases. HMRC have also implemented pre-claim verification checks on those customers who have submitted 2019/20 returns as newly self-employed. The purpose of these checks is to establish that the return is from a genuine person, and they are undertaking self-employed activity.</p><p> </p><p>Eat Out to Help Out scheme ran for one month in August 2020. HMRC’s risk analysis identified customers whose claims indicated significantly supressed turnover and/or an inflated claim. HMRC launched a campaign aimed at encouraging these customers to repay excess claims (although where HMRC believe something is clearly egregious, they moved straight to direct intervention). Customers who presented a risk following this campaign were triaged for further activity. HMRC also directly investigated around 800 of the highest risk cases.</p><p> </p><p>Regarding Bounce Back Loans (BBLS), lenders were required to make and maintain appropriate anti-fraud, anti-money laundering and Know Your Customer checks. Specifically, lenders must use a reputable fraud bureau (such as The UK’s Fraud Prevention Community CIFAS’s fraud prevention and detection solution SIRA) to screen against potential or known fraudsters. If an application fails the lender’s fraud checks, the lender must not offer a loan.</p><p> </p><p>In addition to these lender checks, further checks include the duplicate loan check, incorporation date check and the change in director check that were introduced in June 2020. These minimum standards were agreed following consultation with PWC and lenders on what would have the biggest impact on preventing fraud while still meeting the policy objectives.</p><p> </p><p>Under the Coronavirus Business Interruption Loan Scheme (CBILS) and the Coronavirus Large Business Interruption Loan Scheme (CLBILS), lenders were able to conduct full credit checks on borrowers in line with business as usual processes and thus verify the financial information provided by borrowers, with less reliance on information self-certified by the borrower (as is the case under BBLS). This reduces fraud risk by allowing lenders to assure themselves that borrowers are not providing false information in order to obtain funds.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/02/2022 12:16:44 answering member 4051 label Biography information for John Glen
	tabling member	4430 label Biography information for Alison Thewliss

1418523

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Competition
	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 increase the competitiveness of the financial services sector.
	tabling member constituency	South Cambridgeshire
	tabling member printed	Anthony Browne
	uin	905389
	answer	answer is ministerial correction date of answer 01/02/2022 answer text <p>In his Mansion House statement last July, the Chancellor set out the Government’s vision an open, competitive, green, and technologically advanced financial services.</p><p> </p><p>A sweeping set of reforms to sharpen the UK’s competitive advantage in financial services is already underway; and in November the Government published the second consultation in its Future Regulatory Framework review, which provides a once in a generation opportunity to ensure that the UK maintains a coherent, agile, and internationally respected approach to financial services regulation.</p> answering member constituency Salisbury answering member printed John Glen question first answered 01/02/2022 17:51:41 answering member 4051 label Biography information for John Glen
	tabling member	4801 label Biography information for Anthony Browne

1418654

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Coronavirus
	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 covid-19 support scheme-related fraud by NUTS1 region.
	tabling member constituency	Ceredigion
	tabling member printed	Ben Lake
	uin	116017
	answer	answer is ministerial correction date of answer 08/02/2022 answer text <p>The Government has provided around £400 billion of direct support for the economy since the start of the pandemic, which has helped to safeguard jobs, businesses and public services in every region and nation of the UK.</p><p>This package has included a wide range of different COVID-19 support schemes for businesses, delivered by a variety of Government departments, either directly, via their arms-length bodies, or via local authorities.</p><p> </p><p>Departments are required to disclose details of material fraud, evasion and error within their annual report and accounts. From 2021-22, departments must provide an evidenced estimate of the level of fraud and error specifically in respect of the COVID-19 related schemes they administer and the level of debt as a result of that fraud and error.  There is currently no requirement to break down this data by region and therefore it is not possible to provide an estimate of covid-19 support scheme-related fraud by NUTS1 region.</p> answering member constituency Salisbury answering member printed John Glen question first answered 08/02/2022 14:42:28 answering member 4051 label Biography information for John Glen
	tabling member	4630 label Biography information for Ben Lake

1418521

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Equitable Life Assurance Society: Compensation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will ensure that Equitable Life policyholders who invested in regulated products will be entitled to similar levels of compensation to those who invested in unregulated mini-bonds marketed by London Capital and Finance.
	tabling member constituency	Harrow East
	tabling member printed	Bob Blackman
	uin	905384
	answer	answer is ministerial correction date of answer 01/02/2022 answer text <p>The schemes are not comparable as there are important differences between the situations at Equitable Life and London Capital Finance. The Government compensation schemes in each case sought to achieve a fair outcome for investors and taxpayers based on the particular circumstances surrounding each firm.</p> answering member constituency Salisbury answering member printed John Glen question first answered 01/02/2022 17:53:16 answering member 4051 label Biography information for John Glen
	tabling member	4005 label Biography information for Bob Blackman

1418863

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts: Advisory Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 21 January 2022 to Question 106695, on Debts: Advisory Services, what support is available until MaPS identifies a longer-term solution; and what his timeframe is for identifying a longer-term solution.
	tabling member constituency	Newcastle upon Tyne Central
	tabling member printed	Chi Onwurah
	uin	115897
	answer	answer is ministerial correction date of answer 04/02/2022 answer text The Government and the Money and Pensions Service (MaPS) are committed to ensure that those in financial difficulty who need help can access free of charge debt advice. While MaPS works through their next steps on their commissioning exercise, as set out in their update of 17 December 2021, they have confirmed they will be extending existing grants for a limited period of time.<p> </p><p>The Government recognises the sector’s need for planning certainty and is closely engaging with MaPS as they work through the next steps including by making sure they are considering recent representations made by various stakeholders in the sector on how best to deliver locally based debt advice provision going forward.</p><p> </p><p>The Government is working at pace with MaPS to provide further information to the bidders and the sector shortly.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/02/2022 12:15:38 answering member 4051 label Biography information for John Glen
	tabling member	4124 label Biography information for Chi Onwurah

1418603

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Banking Hubs
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with the banking industry on the potential merits of opening more banking hubs in towns and villages throughout the country.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	115910
	answer	answer is ministerial correction date of answer 08/02/2022 answer text <p>Treasury ministers and officials engage with stakeholders on a variety of issues. The Government recognises that access to cash and face-to-face banking services remains an important part of many people’s lives.</p><p>Bank Hubs are a commercial initiative, and it is for industry to provide appropriate facilities for their customers. In December 2021, industry announced its intention to establish five new shared Post Office Bank Hubs in Acton (West London), Brixham (Devon), Carnoustie (Angus), Knaresborough (North Yorkshire) and Syston (Leicestershire). These are in addition to Bank Hubs that have been introduced in Rochford (Essex) and Cambuslang (South Lanarkshire).</p><p>The Government welcomes industry efforts to develop solutions to support access to cash and banking services and looks forward to seeing what results are delivered to protect facilities for local communities across the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 08/02/2022 14:45:44 answering member 4051 label Biography information for John Glen
	tabling member	4131 label Biography information for Jim Shannon

1418612

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Environment Protection
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to Greening Finance Roadmap, published in October 2021, what assessment he has made of the case for implementing the Sustainability Disclosure Requirements before the suggested three to five year timeline; and if he will make a statement.
	tabling member constituency	East Ham
	tabling member printed	Stephen Timms
	uin	115833
	answer	answer is ministerial correction date of answer 07/02/2022 answer text <p>The document ‘<em>Greening Finance: A Roadmap to S</em><em>ustainable Investing’</em> sets out an indicative pathway to introducing coordinated Sustainability Disclosure Requirements (SDR) across the economy. SDR builds on the UK’s ambitious leadership on green finance and will incorporate the UK’s existing commitment to make reporting aligned with the Taskforce on Climate Related Financial Disclosure (TCFD) mandatory, require robust reporting against the UK Green Taxonomy, and aim to incorporate international standards as they are developed.</p><p> </p><p>The implementation of legislative and regulatory measures will be subject to parliamentary review and to consultation, ensuring effective scrutiny over the requirements that are introduced. Detailed disclosure requirements will be determined by the relevant regulators and government departments following consultation, and anticipated timings are set out in the Roadmap.</p> answering member constituency Salisbury answering member printed John Glen question first answered 07/02/2022 16:18:12 answering member 4051 label Biography information for John Glen
	tabling member	163 label Biography information for Sir Stephen Timms

1418610

	registered interest
	date	01/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	China: Hong Kong
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the Chancellor of the Exchequer's announcement on 29 January on resuming the Economic and Financial Dialogue between the UK and China, what recent assessment she has made of the extent of human rights abuses by China in Hong Kong since the National Security Law came into effect in that territory.
	tabling member constituency	East Worthing and Shoreham
	tabling member printed	Tim Loughton
	uin	115832
	answer	answer is ministerial correction date of answer 04/02/2022 answer text <p>The UK has continued to make clear to the mainland Chinese and Hong Kong authorities our strong opposition to the National Security Law, which is being used to curtail freedoms, punish dissent and shrink the space for opposition, free press and civil society.</p><p> </p><p>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 04/02/2022 12:12:47 answering member 4051 label Biography information for John Glen
	tabling member	114 label Biography information for Tim Loughton