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1130450

	registered interest
	date	06/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment the Government has made of the potential merits of cryptocurrencies as a means of payment.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	261180
	answer	answer is ministerial correction date of answer 13/06/2019 answer text The Government established the Cryptoassets Taskforce – comprised of HM Treasury, the Financial Conduct Authority and the Bank of England – in 2018 to explore the risks and potential benefits of cryptoassets and the underlying distributed ledger technology (DLT). The Taskforce’s final report<sup><sup>[1]</sup></sup> concluded that benefits associated with the use of cryptoassets may arise in the future, but that the most immediate priorities for the authorities are to mitigate the risks posed by cryptoassets to consumers and markets, and to prevent the use of cryptoassets for illicit activity. As part of this, the Government will consult on its approach to cryptoassets this year. In addition, the authorities continue to encourage the responsible development of legitimate DLT and cryptoasset-related activity in the UK.<p> </p><p>[1] Full version of the report is available at: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:40:32 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

1130883

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Workplace Pensions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if his Department will make an assessment of the potential conflict of interests in the business model of vertically integrated companies offering retail investment platforms, asset management and workplace pensions products.
	tabling member constituency	Wallasey
	tabling member printed	Ms Angela Eagle
	uin	262258
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the Member by letter. A copy of the letter will be placed in the Library of the House.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:30:26 answering member 4051 label Biography information for John Glen
	tabling member	491 label Biography information for Dame Angela Eagle

1130980

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Personal Income: Kingston upon Hull North
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many people in Hull North have annual incomes of £80,000 or more.
	tabling member constituency	Kingston upon Hull North
	tabling member printed	Diana Johnson
	uin	262305
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The information requested is not available from HMRC’s statistical source (Survey of Personal Incomes) due to an insufficient sample size for this group of taxpayers, and could be provided only at disproportionate cost from administrative databases.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 13/06/2019 14:50:26 answering member 3991 label Biography information for Jesse Norman
	tabling member	1533 label Biography information for Dame Diana Johnson

1130564

	registered interest
	date	06/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Treasury: Living Wage
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what proportion of organisations that hold contracts with his Department pay the National Living Wage.
	tabling member constituency	Ellesmere Port and Neston
	tabling member printed	Justin Madders
	uin	261261
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The information is not held centrally.</p><p> </p><p>The law is clear that any individual performing work is entitled to receive the National Minimum or National Living Wage. The Government is committed to enforcing this right.</p><p> </p><p>Crown Commercial Service (CCS), who act as HM Treasury’s commercial arm, require suppliers to comply with all applicable human rights and employment laws in the jurisdictions in which they work. Suppliers must also have robust means of ensuring compliance through their supply chain.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 13/06/2019 15:59:05 answering member 4320 label Biography information for Robert Jenrick
	tabling member	4418 label Biography information for Justin Madders

1130449

	registered interest
	date	06/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Standards
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what key performance indicators his Department uses to assess the performance of Open Banking; and what recent assessment he has made of the performance of Open Banking.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	261179
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The independent Open Banking Implementation Entity (OBIE) is responsible for assessing the performance of Open Banking, and HM Treasury’s view is informed by their assessment.</p><p> </p><p>The OBIE’s latest published assessment of Open Banking performance, made in March 2019, shows that in that month the average availability of Open Banking APIs was 97%, the average response time was 798 milliseconds, and that 38.2 million successful API calls had been made, representing over 97% of the total number of calls made to APIs.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:36:10 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

1131016

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pension Funds: Consumer Information
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment she has made of the adequacy of advice given to retirees accessing their pension funds for the first time.
	tabling member constituency	Newcastle-under-Lyme
	tabling member printed	Paul Farrelly
	uin	262271
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The Government works closely with the Financial Conduct Authority (FCA), the independent financial services regulator, to ensure that the market for pensions advice works well, competitively and fairly, especially as consumers now have a wider variety of choice, with the onset of pension freedoms.</p><p>In 2017, the FCA published the results from its Assessing Suitability Review (ASR I) which looked at pension and investment advice delivered during 2015. The review showed that generally financial advice was suitable in 93.1% of cases, across a statistically representative sample of the entire market. The FCA are undertaking further work looking at the market for pensions transfer advice.</p><p>In August 2015 HM Treasury and the FCA launched the Financial Advice Market Review (FAMR) and have since then implemented its recommendations to ensure the financial advice market works better for consumers. The government and FCA are conducting a review of FAMR throughout 2019.</p><p>The Government is also committed to ensuring that people have access to free-to-access financial guidance and information on the options available to them when accessing their Defined Contribution pension, which is why PensionWise, now part of the Money and Pensions Service (MAPS), was set up in 2015.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:25:01 answering member 4051 label Biography information for John Glen
	tabling member	1436 label Biography information for Paul Farrelly

1130467

	registered interest
	date	06/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	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 ensure that people without internet access can continue to receive paper bills and statements from their banks.
	tabling member constituency	Hornsey and Wood Green
	tabling member printed	Catherine West
	uin	261294
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The Government takes the firm view that consumers must be able to easily access clear and transparent information about their accounts with banks and other financial service companies.</p><p> </p><p>UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles for Businesses. This includes a general requirement for firms to provide a prompt, efficient and fair service to all of their customers. The FCA’s Handbook requires firms to identify particularly vulnerable customers, and to deal with such customers appropriately. This includes older people, the disabled, and those who do not have access to the internet. If a customer does not have access to the internet, then the FCA would expect the customer’s bank to provide or make available paper statements to them instead.</p><p> </p><p> </p><p> </p><p>Under changes to the Payment Services Regulations (PSRs) which came into force 13 January 2018 and govern the rules around payment accounts, banks are required to provide their customers with certain information, including a monthly statement (so long as there has been a transaction on the account). However, a customer’s terms and conditions must also include a condition that they can require their monthly statement to simply be ‘made available’ on a durable medium, for example through a secure website, rather than in the form of a physical statement.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:44:28 answering member 4051 label Biography information for John Glen
	tabling member	4523 label Biography information for Catherine West

1131004

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance
	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 ensure that insurance companies do not unfairly discriminate against consumers with (a) historical and (b) current mental health conditions.
	tabling member constituency	Livingston
	tabling member printed	Hannah Bardell
	uin	262447
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The Government is determined that all insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules.</p><p> </p><p>The FCA has placed access and vulnerability at the core of the its Mission and Business Plan. For example, it is currently exploring options for signposting consumers with pre-existing and historic medical conditions, such as mental health conditions, to specialist travel insurance providers so that these consumers are better able to access suitable insurance.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/06/2019 13:27:04 answering member 4051 label Biography information for John Glen
	tabling member	4486 label Biography information for Hannah Bardell

1131006

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Ford Motor Company: Bridgend
	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 issue a waiver for the tax due on redundancy payments to be received by Ford Bridgend workers.
	tabling member constituency	Bridgend
	tabling member printed	Mrs Madeleine Moon
	uin	262300
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The Government confirmed in Finance (No. 2) Act 2017 that the first £30,000 of all termination payments remain exempt from income tax. The UK has one of the most generous tax exemptions for termination payments in the OECD, and around 80% of the termination awards made each year will remain completely free from income tax.</p><p>HM Revenue and Customs does not have the data available to make an estimate on the cost of reducing tax from redundancy payments for Ford, Bridgend.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 262302 question first answered 13/06/2019 14:50:17 answering member 3991 label Biography information for Jesse Norman
	tabling member	1490 label Biography information for Mrs Madeleine Moon

1131009

	registered interest
	date	10/06/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Ford Motor Company: Bridgend
	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 the value of reducing tax deductions from redundancy payments to workers at Ford Bridgend; and if he will make a statement.
	tabling member constituency	Bridgend
	tabling member printed	Mrs Madeleine Moon
	uin	262302
	answer	answer is ministerial correction date of answer 13/06/2019 answer text <p>The Government confirmed in Finance (No. 2) Act 2017 that the first £30,000 of all termination payments remain exempt from income tax. The UK has one of the most generous tax exemptions for termination payments in the OECD, and around 80% of the termination awards made each year will remain completely free from income tax.</p><p>HM Revenue and Customs does not have the data available to make an estimate on the cost of reducing tax from redundancy payments for Ford, Bridgend.</p><p> </p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 262300 question first answered 13/06/2019 14:50:17 answering member 3991 label Biography information for Jesse Norman
	tabling member	1490 label Biography information for Mrs Madeleine Moon