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166396

	registered interest
	date	26/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Foreign Exchange
	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 potential merits of changing the criminal law to allow sanctions for the misconduct of financial traders identified as having manipulated the foreign exchange market.
	tabling member constituency	York Outer
	tabling member printed	Julian Sturdy
	uin	216077
	answer	answer is ministerial correction date of answer 02/12/2014 answer text <p>The Government is committed to taking action to ensure that the criminal regime for financial market abuse is strong and robust. In September 2014 the Government consulted on whether the regulatory regime put in place for LIBOR should be extended to seven other major benchmarks, based on recommendations from the Fair and Effective Markets Review. This regime includes the criminal offence of manipulating a ‘relevant benchmark’ either by making misleading statements or by creating a false or misleading impression of the value of investments that could affect such a benchmark. The list of benchmarks included the dominant benchmark for the foreign exchange market, WM/Reuters 4pm London Closing Spot Rate. The Government will announce its response to this consultation shortly.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 02/12/2014 17:11:26 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4079 label Biography information for Julian Sturdy

64151

	registered interest
	date	26/06/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Reserve Forces: Taxation
	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 number of reserve servicemen who have been allocated the wrong tax code by HM Revenue and Customs as a result of their additional income accruing from military duties.
	tabling member constituency	York Outer
	tabling member printed	Julian Sturdy
	uin	202559
	answer	answer is ministerial correction date of answer 02/07/2014 answer text <p>The information requested is only available at a disproportionate cost.</p><p> </p><p> </p><p>HM Revenue &amp; Customs (HMRC) has processes in place to ensure that reservist service personnel called up for military service receive the full benefit of their personal income tax allowances whilst they are on active duty.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 02/07/2014 14:48:59 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4079 label Biography information for Julian Sturdy

64577

	registered interest
	date	27/06/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Welfare Tax Credits: York
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many families in (a) York Central constituency and (b) York Unitary Authority area received child and working tax credits in 2009 and in each year since.
	tabling member constituency	York Central
	tabling member printed	Hugh Bayley
	uin	202934
	answer	answer is ministerial correction date of answer 02/07/2014 answer text <p>The finalised annual award Child and Working Tax Credits statistics for 2012-13 are available here:</p><p> </p><p><a href="https://www.gov.uk/government/publications/personal-tax-credits-finalised-award-statistics-geographical-statistics-2012-to-2013" target="_blank">https://www.gov.uk/government/publications/personal-tax-credits-finalised-award-statistics-geographical-statistics-2012-to-2013</a></p><p> </p><p><ins class="ministerial"><ins>Since </ins><ins>the original PQ answer was issued, HM Revenue and Customs</ins><ins> have revised figures for finalised Child and Working Tax Credit Statistics for 2012-13. As such, figures in the referenced publication of interest may </ins><ins>have </ins><ins>be</ins><ins>en</ins><ins> subject to change</ins><ins>.</ins></ins></p><p> </p><p>The finalised annual award Child and Working Tax Credits statistics for 2011-12 are available here:</p><p> </p><p><a href="https://www.gov.uk/government/publications/personal-tax-credits-finalised-award-statistics-geographical-statistics" target="_blank">https://www.gov.uk/government/publications/personal-tax-credits-finalised-award-statistics-geographical-statistics</a></p><p> </p><p>For the years 2009-10 to 2010-11, please refer to the archived publication webpage:</p><p> </p><p><a href="http://webarchive.nationalarchives.gov.uk/20121106034103/http:/www.hmrc.gov.uk/stats/personal-tax-credits/final-award-geog.htm" target="_blank">http://webarchive.nationalarchives.gov.uk/20121106034103/http://www.hmrc.gov.uk/stats/personal-tax-credits/final-award-geog.htm</a></p><p> </p><p>Table 2 of these publications provide a breakdown of figures by local authority, including York.</p><p> </p><p> </p><p>Table 3 of these publications provide a breakdown of figures by parliamentary constituency, including York Central.</p> answering member constituency Loughborough answering member printed Nicky Morgan question first answered 02/07/2014 14:56:46 question first ministerially corrected 24/03/2015 11:55:28 answering member 4027 label Biography information for Baroness Morgan of Cotes previous answer version 7633 answering member constituency Loughborough answering member printed Nicky Morgan answering member 4027 label Biography information for Baroness Morgan of Cotes
	tabling member	385 label Biography information for Sir Hugh Bayley

64898

	registered interest
	date	01/07/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Development Aid
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how much Official Development Assistance was spent by each Government department in 2009-10 and in each year since (a) in cash terms, (b) at current prices and (c) as a proportion of Gross National Income.
	tabling member constituency	York Central
	tabling member printed	Hugh Bayley
	uin	203236
	answer	answer is ministerial correction date of answer 07/07/2014 answer text <p>Information on the amount of Official Development Assistance spent by each Government department since 2009-10 is available publicly at: https://www.gov.uk/government/organisations/department-for-international-development/about/statistics.</p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 07/07/2014 15:16:37 answering member 1535 label Biography information for Danny Alexander
	tabling member	385 label Biography information for Sir Hugh Bayley

49018

	registered interest
	date	29/04/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what support the Government is giving to credit unions to help extend access to fair credit.
	tabling member constituency	Wythenshawe and Sale East
	tabling member printed	Mike Kane
	uin	197059
	answer	answer is ministerial correction date of answer 06/05/2014 answer text <p>The Government is supportive of credit unions and has taken a number of steps to assist them, most recently including:</p><ul><li>The Department for Work and Pensions investment of up to £38 million in an expansion project for credit unions. The project aims to help credit unions expand and grow, enabling them to provide financial services to more people.</li><li>From 1 April this year the Government increased the cap on the maximum interest rate a credit union can charge for loans from 2% to 3% per month. This will allow credit unions to make more loans to their members without making a loss. Even if they choose to charge the higher rate of interest the cost of borrowing from a credit union will still be significantly cheaper than many high cost lenders.</li></ul><p>The Government intends that these measures will help the credit union sector go from strength to strength, so it can be a viable option for financial services provision for an even wider range of consumers.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 06/05/2014 12:00:00 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4316 label Biography information for Mike Kane

89489

	registered interest
	date	29/08/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit: Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate his Department has made of (a) the number of payday firms that will be in operation and (b) the projected consumer demand for payday loans in (i) 2015, (ii) 2016 and (iii) 2017.
	tabling member constituency	Wythenshawe and Sale East
	tabling member printed	Mike Kane
	uin	207342
	answer	answer is ministerial correction date of answer 05/09/2014 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market. Responsibility for consumer credit regulation transferred from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014.</p><p> </p><p>In the FCA’s consultation paper on the cap on the cost of payday loans, the FCA assesses that its proposals will lead to a risk of contraction in both the online and high-street markets. FCA modelling suggests that its cap proposals would mean at least one high street firm would continue to offer payday loans and at least the three largest online firms continuing in the market, although the FCA expects that more firms will be able to adapt their businesses to operate under the price cap and remain in the market.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 05/09/2014 13:16:20 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4316 label Biography information for Mike Kane

89490

	registered interest
	date	29/08/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will take steps to prohibit credit reference agencies from selling payday customer details to marketing agencies and lead generators.
	tabling member constituency	Wythenshawe and Sale East
	tabling member printed	Mike Kane
	uin	207340
	answer	answer is ministerial correction date of answer 08/09/2014 answer text <p>The Government has made clear to lenders that credit data sharing is key to proper affordability assessments and promoting a competitive market, and more progress on recording and using payday lending data in real time is vital to addressing problems around multiple loans.</p><p> </p><p>Having access to comprehensive real-time data about their customers’ outstanding commitments may help avoid consumers taking out a loan which they cannot afford to repay.</p><p> </p><p>The FCA has already made clear to payday lenders and credit reference agencies (CRAs) in its policy statement, published in February, that they must identify and remove any data sharing blockages involving payday lenders as a matter of urgency.</p><p> </p><p>In its consultation on the cap on the cost of payday loans, published in July, the FCA stated it expects to see more than 90% of current market participants - by market share and volume of loans - participating in real-time market-wide data sharing by November 2014, and more than 90% of loans being reported in real time. In order to improve the coverage of real-time databases, firms will also need to share data with more than one CRA.</p><p> </p><p>The FCA stated that it will request information from firms and CRAs in order to get an accurate picture of whether the standards it has proposed have been met by November. If the FCA does not see sufficient progress by November or CRA coverage does not improve, it will consult on the introduction of data sharing requirements. It has also placed a requirement on firms to provide product sales data on high-cost short-term credit agreements every three months once they are authorised.</p><p> </p><p> </p><p>Credit reference agencies must ensure that that their use of personal data is compliant with the Data Protection Act 1998 (DPA). The Information Commissioner’s Office is an independent UK supervisory authority that oversees and enforces compliance with the DPA.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 207339 207341 207344 207380 question first answered 08/09/2014 15:45:34 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4316 label Biography information for Mike Kane

89491

	registered interest
	date	29/08/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on credit scores of increased data sharing by payday lenders.
	tabling member constituency	Wythenshawe and Sale East
	tabling member printed	Mike Kane
	uin	207339
	answer	answer is ministerial correction date of answer 08/09/2014 answer text <p>The Government has made clear to lenders that credit data sharing is key to proper affordability assessments and promoting a competitive market, and more progress on recording and using payday lending data in real time is vital to addressing problems around multiple loans.</p><p> </p><p>Having access to comprehensive real-time data about their customers’ outstanding commitments may help avoid consumers taking out a loan which they cannot afford to repay.</p><p> </p><p>The FCA has already made clear to payday lenders and credit reference agencies (CRAs) in its policy statement, published in February, that they must identify and remove any data sharing blockages involving payday lenders as a matter of urgency.</p><p> </p><p>In its consultation on the cap on the cost of payday loans, published in July, the FCA stated it expects to see more than 90% of current market participants - by market share and volume of loans - participating in real-time market-wide data sharing by November 2014, and more than 90% of loans being reported in real time. In order to improve the coverage of real-time databases, firms will also need to share data with more than one CRA.</p><p> </p><p>The FCA stated that it will request information from firms and CRAs in order to get an accurate picture of whether the standards it has proposed have been met by November. If the FCA does not see sufficient progress by November or CRA coverage does not improve, it will consult on the introduction of data sharing requirements. It has also placed a requirement on firms to provide product sales data on high-cost short-term credit agreements every three months once they are authorised.</p><p> </p><p> </p><p>Credit reference agencies must ensure that that their use of personal data is compliant with the Data Protection Act 1998 (DPA). The Information Commissioner’s Office is an independent UK supervisory authority that oversees and enforces compliance with the DPA.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 207340 207341 207344 207380 question first answered 08/09/2014 15:45:34 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4316 label Biography information for Mike Kane

89494

	registered interest
	date	29/08/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will instruct the Financial Conduct Authority to require credit reference agencies to report their data to the Authority for enforcement purposes.
	tabling member constituency	Wythenshawe and Sale East
	tabling member printed	Mike Kane
	uin	207341
	answer	answer is ministerial correction date of answer 08/09/2014 answer text <p>The Government has made clear to lenders that credit data sharing is key to proper affordability assessments and promoting a competitive market, and more progress on recording and using payday lending data in real time is vital to addressing problems around multiple loans.</p><p> </p><p>Having access to comprehensive real-time data about their customers’ outstanding commitments may help avoid consumers taking out a loan which they cannot afford to repay.</p><p> </p><p>The FCA has already made clear to payday lenders and credit reference agencies (CRAs) in its policy statement, published in February, that they must identify and remove any data sharing blockages involving payday lenders as a matter of urgency.</p><p> </p><p>In its consultation on the cap on the cost of payday loans, published in July, the FCA stated it expects to see more than 90% of current market participants - by market share and volume of loans - participating in real-time market-wide data sharing by November 2014, and more than 90% of loans being reported in real time. In order to improve the coverage of real-time databases, firms will also need to share data with more than one CRA.</p><p> </p><p>The FCA stated that it will request information from firms and CRAs in order to get an accurate picture of whether the standards it has proposed have been met by November. If the FCA does not see sufficient progress by November or CRA coverage does not improve, it will consult on the introduction of data sharing requirements. It has also placed a requirement on firms to provide product sales data on high-cost short-term credit agreements every three months once they are authorised.</p><p> </p><p> </p><p>Credit reference agencies must ensure that that their use of personal data is compliant with the Data Protection Act 1998 (DPA). The Information Commissioner’s Office is an independent UK supervisory authority that oversees and enforces compliance with the DPA.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 207339 207340 207344 207380 question first answered 08/09/2014 15:45:34 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4316 label Biography information for Mike Kane

89496

	registered interest
	date	29/08/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit: Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what analysis his Department has made of the performance of credit caps on payday lending firms in operation in (a) the USA, (b) Canada and (c) Australia.
	tabling member constituency	Wythenshawe and Sale East
	tabling member printed	Mike Kane
	uin	207343
	answer	answer is ministerial correction date of answer 05/09/2014 answer text <p>The Government legislated to require the FCA to introduce a cap on the cost of payday loans, to protect consumers from unfair costs.</p><p> </p><p> </p><p>In making this decision the government considered the international evidence in support of a cap. As part of its work to design a cap to meet the needs of UK consumers, the FCA took into account international comparators conducting detailed case studies on experiences of price cap setting in Australia, Canada, US, Finland and Japan. The FCA spoke to international regulators and experts to understand the rationale and designs of price caps, as well as the impact they had on consumers and industry in these countries.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 05/09/2014 13:11:35 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4316 label Biography information for Mike Kane