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751212

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Banks: Wales
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many bank and building society branches have closed in (a) Vale of Clwyd constituency, (b) Denbighshire and (c) Conwy county in the last five years.
	tabling member constituency	Vale of Clwyd
	tabling member printed	Chris Ruane
	uin	4499
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>The Treasury does not collect data relating to bank branch closures.</p><p> </p><p>Decisions on the opening and closing of individual bank branches are taken by the management team of each bank on a commercial basis without intervention from Government. While banks and building societies need to balance customer interests, market competition, and other commercial factors when considering their strategy, the Government is pleased to see that the industry is committing to further improvements to protect those affected by branch closures. For this reason, the Government welcomed the industry-wide Access to Banking Protocol and Professor Russel Griggs’ independent ‘one year on’ review, published last November.</p><p> </p><p>Building on Professor Griggs’ review, the new Access to Banking Standard came into effect on 1 May. The Standard commits banks to ensure customers are better informed about branch closures and the reasons for them closing, along with the options they have locally to continue to access banking services, including specialist assistance for customers who need more help.</p><p> </p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 4500 4501 question first answered 17/07/2017 11:04:30 answering member 4095 label Biography information for Steve Barclay
	tabling member	534 label Biography information for Chris Ruane

751209

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Banks: Closures
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many bank branches have closed by parliamentary constituency in each year for which figures are available.
	tabling member constituency	Vale of Clwyd
	tabling member printed	Chris Ruane
	uin	4500
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>The Treasury does not collect data relating to bank branch closures.</p><p> </p><p>Decisions on the opening and closing of individual bank branches are taken by the management team of each bank on a commercial basis without intervention from Government. While banks and building societies need to balance customer interests, market competition, and other commercial factors when considering their strategy, the Government is pleased to see that the industry is committing to further improvements to protect those affected by branch closures. For this reason, the Government welcomed the industry-wide Access to Banking Protocol and Professor Russel Griggs’ independent ‘one year on’ review, published last November.</p><p> </p><p>Building on Professor Griggs’ review, the new Access to Banking Standard came into effect on 1 May. The Standard commits banks to ensure customers are better informed about branch closures and the reasons for them closing, along with the options they have locally to continue to access banking services, including specialist assistance for customers who need more help.</p><p> </p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 4499 4501 question first answered 17/07/2017 11:04:30 answering member 4095 label Biography information for Steve Barclay
	tabling member	534 label Biography information for Chris Ruane

751227

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Banks: Closures
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of bank and building society closures on (a) town centres, (b) businesses and (c) individuals.
	tabling member constituency	Vale of Clwyd
	tabling member printed	Chris Ruane
	uin	4501
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>The Treasury does not collect data relating to bank branch closures.</p><p> </p><p>Decisions on the opening and closing of individual bank branches are taken by the management team of each bank on a commercial basis without intervention from Government. While banks and building societies need to balance customer interests, market competition, and other commercial factors when considering their strategy, the Government is pleased to see that the industry is committing to further improvements to protect those affected by branch closures. For this reason, the Government welcomed the industry-wide Access to Banking Protocol and Professor Russel Griggs’ independent ‘one year on’ review, published last November.</p><p> </p><p>Building on Professor Griggs’ review, the new Access to Banking Standard came into effect on 1 May. The Standard commits banks to ensure customers are better informed about branch closures and the reasons for them closing, along with the options they have locally to continue to access banking services, including specialist assistance for customers who need more help.</p><p> </p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 4499 4500 question first answered 17/07/2017 11:04:30 answering member 4095 label Biography information for Steve Barclay
	tabling member	534 label Biography information for Chris Ruane

751235

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Economic Situation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the economic effect of the enforcement of immigration policy on businesses in the last 12 months.
	tabling member constituency	Bristol West
	tabling member printed	Thangam Debbonaire
	uin	4656
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>The Treasury has not made any formal assessment of the economic effect of immigration enforcement on business.</p><p> </p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 17/07/2017 11:05:34 answering member 4095 label Biography information for Steve Barclay
	tabling member	4433 label Biography information for Thangam Debbonaire

751236

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Cash Dispensing: Fees and Charges
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the proportion of free-to-use cash machines which would (a) be removed or (b) start charging customers if business rates are levied on cash machines.
	tabling member constituency	Birmingham, Hall Green
	tabling member printed	Mr Roger Godsiff
	uin	4658
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>Government has not made an estimate of the number of cash machines that would be removed or start charging customers if business rates were levied on cash machines.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 17/07/2017 11:21:40 answering member 4095 label Biography information for Steve Barclay
	tabling member	304 label Biography information for Mr Roger Godsiff

751233

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Debts: Young People
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to prevent young people from falling into problem debt.
	tabling member constituency	Aberdeen North
	tabling member printed	Kirsty Blackman
	uin	4645
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>The government is committed to supporting all those affected by problem debt, and has a range of measures in place.</p><p> </p><p>The Financial Conduct Authority (FCA) regulates the consumer credit market, and has introduced binding rules to strengthen consumer protection. They are based on the principle that money should only be lent to a consumer if they can afford to repay it; lenders must show forbearance if there is evidence of financial difficulty.</p><p> </p><p>The FCA also capped the cost of payday loans. As part of a review of this price cap, the FCA will examine the high-cost credit market more broadly (such as rent-to-own), and consider whether further interventions are necessary to address the risk of consumer harm.</p><p> </p><p>The Money Advice Service (MAS) coordinates the provision of free-to-client debt advice. Last financial year, MAS had a debt advice budget of £45m and funded 380,000 free-to-client debt advice sessions.</p><p> </p><p>In the Queen’s Speech, the government announced the Financial Guidance and Claims Bill. This will legislate to restructure the financial guidance landscape and bring debt advice, money guidance, and pensions guidance together in a single body, and give consumers better access to the financial information they need. This Bill is currently going through Parliament.</p><p> </p><p>This government's manifesto proposed a statutory breathing space that would give heavily indebted consumers a period of respite from enforcement action, and further interest and charges for a period of up to six weeks. Where appropriate, this would be followed by a statutory repayment plan to help them pay back their debts in a sustainable way. We will outline further information on how this policy could be implemented in due course.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 17/07/2017 10:46:54 answering member 4095 label Biography information for Steve Barclay
	tabling member	4357 label Biography information for Kirsty Blackman

750905

	registered interest
	date	11/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Inflation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to tackle rising inflation.
	tabling member constituency	Lanark and Hamilton East
	tabling member printed	Angela Crawley
	uin	4349
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>In their March forecast, the Office for Budget Responsibility (OBR) expected inflation to average 2.4% in 2017 before falling back to 2.3% in 2018 and 2.0% from 2019 to 2021.</p><p> </p><p>Maintaining price stability is the primary objective of the Monetary Policy Committee. This objective is defined as an inflation target of 2% as measured by the twelve month increase in the Consumer Prices Index.</p><p> </p><p>The Government is taking action to support people with the cost of living. This includes increasing the National Living Wage, raising the personal allowance, and freezing fuel duty.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 17/07/2017 10:51:19 answering member 4095 label Biography information for Steve Barclay
	tabling member	4469 label Biography information for Angela Crawley

750906

	registered interest
	date	11/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Pay
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to tackle wage stagnation.
	tabling member constituency	Lanark and Hamilton East
	tabling member printed	Angela Crawley
	uin	4352
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>According to the Office for National Statistics (ONS), total pay increased by 1.8% on the year in the three months to May. The Office for Budget Responsibility (OBR) also expect wages to increase in each year of their forecast.</p><p> </p><p>The Government is taking action to support wages. Introduced in April 2016, the National Living Wage has benefitted around 1.7 million low paid workers and delivered the fastest wage growth for the lowest paid in 20 years. Furthermore, the Government has boosted take home pay with increases to personal allowance, where 1.3 million individuals will be taken out of income tax this year.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 17/07/2017 10:59:21 answering member 4095 label Biography information for Steve Barclay
	tabling member	4469 label Biography information for Angela Crawley

751232

	registered interest
	date	12/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Economic Growth: Inequality
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether his Department has commissioned research on projected levels of inequality and economic growth.
	tabling member constituency	Aberdeen North
	tabling member printed	Kirsty Blackman
	uin	4644
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>The independent Office for Budget Responsibility (OBR) is tasked with creating the forecasts for economic growth on which the government sets fiscal policy. These are published in the ‘Economic and fiscal outlook’, most recently at the Spring Budget 2017. At Spring Budget 2017, the OBR revised up growth in 2017 to 2.0%, but revised it slightly down thereafter.</p><p> </p><p>There are no official projections of inequality. The latest data from the Office for National Statistics show that inequality reached a 30-yr low last year.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 17/07/2017 11:19:48 answering member 4095 label Biography information for Steve Barclay
	tabling member	4357 label Biography information for Kirsty Blackman

750710

	registered interest
	date	11/07/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Inflation: Debts
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether his Department has commissioned research on the effect of inflation on household debt.
	tabling member constituency	Central Ayrshire
	tabling member printed	Dr Philippa Whitford
	uin	4384
	answer	answer is ministerial correction date of answer 17/07/2017 answer text <p>The department has not commissioned research on this subject.</p><p> </p><p>The independent Monetary Policy Committee has the primary objective of maintaining price stability. This objective is defined as an inflation target of 2% as measured by the twelve month increase in the Consumer Prices Index.</p><p> </p><p>Household financial positions are stronger than before the financial crisis: net financial wealth as a share of income is close to record highs; debt to income is below pre-crisis levels; and debt interest payments to income are at a record low.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 17/07/2017 10:55:52 answering member 4095 label Biography information for Steve Barclay
	tabling member	4385 label Biography information for Dr Philippa Whitford