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155745

	registered interest
	date	17/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he has taken to encourage more foreign direct investment in UK companies.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	214745
	answer	answer is ministerial correction date of answer 24/11/2014 answer text <p><strong>In 2013-14 the UK attracted 1,773 foreign direct investment projects, giving a total stock of £1.6 trillion of such investments - more than any other country apart from the USA. During this Parliament the Government has taken action to make the UK a more attractive location to run a business including reducing corporation tax so that it will reach 20% next year – the lowest in the G20 - and investing in skills, science and infrastructure. The Government has also increased resources at UK Trade and Investment including for example establishing private sector-led teams in the Gulf, Central Europe, and South America dedicated to attracting inward investment into the UK. </strong></p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 24/11/2014 17:43:50 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1586 label Biography information for Adam Afriyie

177084

	registered interest
	date	02/02/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent steps he has taken to encourage banks to offer their services to money service businesses.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	222940
	answer	answer is ministerial correction date of answer 04/02/2015 answer text <p>The UK Government is committed to supporting a healthy and legitimate remittance sector, and ensuring that UK citizens are able to continue to remit funds safely to family abroad. That is why, in response to the withdrawal of banking services from the Money Service Business sector we set up an Action Group on Cross Border Remittances to address this issue. The group is monitoring changes to the market, has developed guidance for MSBs and banks and is promoting a shared understanding of risk. The group is also overseeing the development of a Safer Corridor to ensure the continued, secure flow of remittances to Somalia.</p><p> </p><p> </p><p> </p><p>Treasury Ministers have been engaging closely with the banking industry both through the British Bankers Association and directly with those banks involved in this issue, including personally writing to and phoning a number of banks.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 04/02/2015 12:29:59 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1586 label Biography information for Adam Afriyie

224414

	registered interest
	date	02/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps his Department has taken to boost the growth of the financial technology industry.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	225806
	answer	answer is ministerial correction date of answer 25/03/2015 answer text <p>As part of our long term economic plan, the Government is committed to supporting the continued growth of the Financial Technology (FinTech) sector. The Government has taken a number of steps to achieve this, including:</p><p> </p><p> </p><p> </p><ul><li><p>Creating a new Payments Systems Regulator (PSR), which will ensure that smaller banks and alternative providers of finance – including FinTechs – can access payment systems in a fair and transparent way, and thereby contributing to a fairer and more competitive payments industry. The PSR will open its doors on 1 April this year.</p><p> </p></li><li><p>Committing to additional funding of £100m to the British Business Bank’s Investment Programme – including funding for FinTech.</p><p> </p></li><li><p>Launching the GO-Science’s Blackett Review on FinTech Futures, which looks ahead 10 years to the future and identify what the technologies, enablers and barriers are that will shape the future of the UK FinTech sector.</p><p> </p></li></ul><p> </p><ul><li><p>Naming the big banks that will have to share credit data, and refer on SMEs they reject for finance – helping alternative finance providers, including FinTech firms, to lend more effectively;</p></li></ul><p> </p><p> </p><p> </p><ul><li><p>Supporting the development of the peer-to-peer lending and crowdfunding market: consulting on ISA eligibility for crowdfunded debt securities; announcing we will review EU regulations standing in the way of P2P institutional lending; and creating a bespoke regulatory framework for P2P.</p><p> </p></li></ul><p> </p><p>Most recently at budget 2015, we announced a further package of measures to build on the government’s wide-reaching programme of reform to drive competition in banking and FinTech, including announcing that:</p><p> </p><ul><li><p>The Government intends to apply anti-money laundering regulation to digital currency exchanges in the UK, launch a new research initiative into digital currency technology, with £10 million additional funding, and work with the British Standards Institution and the digital currency industry to develop voluntary standards for consumer protection.</p><p> </p></li><li><p>Gocompare will launch the first personal current account comparison tool making use of customers’ bank midata releases on 26 March 2015.</p><p> </p></li><li><p>The Government will work with the banks and FinTech firms to develop an open API (Application Programming Interface) standard for banks, by the end of the year.</p></li></ul><p> </p><p> </p><p> </p><ul><li><p>the Financial Conduct Authority’s (FCA) ‘Project Innovate’ will work with HMT and the Prudential Regulation Authority (PRA) to investigate the feasibility of developing a regulatory ‘sandbox’ for financial services innovators</p><p> </p></li><li><p>Innovate Finance has agreed to deliver its FinTech regional strategy through a series of local partnerships; the first partnership has already been established in Leeds, and further partnerships will be established in Manchester and Edinburgh by April, and in Newcastle, Bristol and other centres before the end of the year.</p></li></ul><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 25/03/2015 11:07:37 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1586 label Biography information for Adam Afriyie

225284

	registered interest
	date	04/03/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Employment: Females
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will estimate the benefit to the economy of London of a five per cent increase in the number of women in employment.
	tabling member constituency	Wirral South
	tabling member printed	Alison McGovern
	uin	226298
	answer	answer is ministerial correction date of answer 16/03/2015 answer text <p>We have made considerable progress in getting women into work since the election: the number of women in jobs is at a record high, there are more women led businesses and board members than ever before.</p><p> </p><p> </p><p> </p><p>Female employment in London has risen by 58,000 over the last year – and is up 210,000 since 2010.</p><p> </p><p> </p><p> </p><p>As the Chancellor set out in h<a target="_blank">i</a>s long-term economic plan for London this Government has an ambition to create over half a million extra jobs in London by 2020.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 16/03/2015 17:40:55 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4083 label Biography information for Alison McGovern

114607

	registered interest
	date	05/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Equitable Life Assurance Society
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will increase compensation payments to Equitable Life policyholders.
	tabling member constituency	North East Bedfordshire
	tabling member printed	Alistair Burt
	uin	213511
	answer	answer is ministerial correction date of answer 17/11/2014 answer text <p>The Equitable Life Payment Scheme is focussed on making the remaining payments to eligible policyholders. The Government has sought to achieve fairness between Equitable Life policyholders and the taxpayers who must bear the cost at a time when the nation's finances are in a difficult position. We have no plans to re-open the design of the Scheme.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 17/11/2014 15:46:18 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1201 label Biography information for Alistair Burt

176016

	registered interest
	date	27/01/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Ombudsman Service
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what the rate of staff turnover was at the Financial Ombudsman Service in the years (a) 2000, (b) 2009, (c) 2010, (d) 2011, (e) 2012, (f) 2013 and (g) 2014.
	tabling member constituency	North West Leicestershire
	tabling member printed	Andrew Bridgen
	uin	222284
	answer	answer is ministerial correction date of answer 02/02/2015 answer text <p>This is a matter for the Financial Ombudsman Service (FOS) who are operationally independent from Government.</p><p> </p><p> </p><p> </p><p>This question has been passed on to the FOS. The FOS will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 02/02/2015 16:11:43 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4133 label Biography information for Andrew Bridgen

156587

	registered interest
	date	19/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Vulture Funds: Argentina
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, pursuant to the Oral Answer of 17 November 2014, Official Report, column 49, what workarounds the Government is proposing so that Argentina can avoid technical default without paying vulture funds in full.
	tabling member constituency	Denton and Reddish
	tabling member printed	Andrew Gwynne
	uin	215171
	answer	answer is ministerial correction date of answer 27/11/2014 answer text <p>Securing the resolution of its sovereign debts is a matter for the government of Argentina. We encourage Argentina and its creditors to work towards a negotiated resolution.</p><p> </p><p> </p><p> </p><p>The UK continues to actively engage in ongoing discussions to improve the operation of sovereign debt restructurings in international fora, including supporting the International Monetary Fund’s work on the contractual framework that has proposed new measures to reduce the power of holdout creditors in future debt restructurings.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 27/11/2014 17:44:02 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1506 label Biography information for Andrew Gwynne

157031

	registered interest
	date	20/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Government Securities
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, with reference to the Annex to the communiqué published following the G20 Summit in Brisbane in November 2014, what steps the Government is taking to implement the call for the inclusion of strengthened collective action and pari passu clauses in international sovereign bonds and for their use to be actively promoted by the international community and private sector.
	tabling member constituency	Denton and Reddish
	tabling member printed	Andrew Gwynne
	uin	215372
	answer	answer is ministerial correction date of answer 02/12/2014 answer text <p>The Government strongly supports the promotion of strengthened collective action and pari passu clauses in international sovereign bonds, and has called on the International Monetary Fund to take an active role in doing so. The Government hopes that the text in the G20 Communiqué will lend momentum to this process.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 02/12/2014 16:25:07 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1506 label Biography information for Andrew Gwynne

156718

	registered interest
	date	19/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	New Businesses: Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what supply side reforms he is undertaking to encourage investment in start-up technology businesses in the UK.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	215122
	answer	answer is ministerial correction date of answer 25/11/2014 answer text <p>The Government has introduced a comprehensive set of measures to encourage investment in start-up and technology businesses.</p><p> </p><p> </p><p> </p><p>Tax-advantaged venture capital schemes provide generous tax reliefs to encourage private investment. The Seed Enterprise Investment Scheme (SEIS) introduced in 2012 and made permanent at Budget 2014 has helped over 2,000 companies raise in excess of £175m in investment.</p><p> </p><p> </p><p> </p><p>The British Business Bank has a range of schemes to support investment in smaller companies with growth potential. The Business Angel Co-Fund has facilitated over £100m of investment in 50 high-growth companies since 2010.</p><p> </p><p> </p><p> </p><p>Innovate UK provides support for innovative small and medium sized enterprises. Its Smart funding programme offers grants of up to £250,000 for ambitious high growth smaller businesses in technology, science or engineering industries for research and development projects.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 25/11/2014 14:37:25 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1447 label Biography information for Andrew Rosindell

156720

	registered interest
	date	19/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Economic Situation: Japan
	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 effects of the Japanese recession on the UK economy.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	215130
	answer	answer is ministerial correction date of answer 26/11/2014 answer text <p>The Treasury continually monitors global economic developments, including those in Europe and Japan, and their impact on the UK.</p><p> </p><p> </p><p> </p><p>The UK is one of the most open economies in the world through trade and financial channels, so we are not immune from global developments. Despite the effects of these developments, the UK was the fastest growing major advanced economy (G7) in the first half of the year, the deficit is falling and there are record levels of people in work.</p><p> </p><p> </p><p> </p><p>As the Chancellor said last month: “We need to send a clear message out around the world that we have a stable economy, that our economic plan is working, and that we’re not going to deviate from that economic plan, so that people around the world know that while Britain is not immune from what is going on in the world we can take steps to protect ourselves.”</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 215132 question first answered 26/11/2014 13:47:33 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1447 label Biography information for Andrew Rosindell