Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1505183

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Azure Services: Loans
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to ensure that customers of Azure Services Ltd who were impacted by the mis-selling of loans for timeshares at the Golden Sands Resort in Malta are able to access financial redress.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	47726
	answer	answer is ministerial correction date of answer 08/09/2022 answer text <p>The Financial Conduct Authority (FCA) has been established as an independent regulator responsible for the supervision and regulation of conduct in financial services. The FCA’s independence from Government does not mean it can act arbitrarily, rather it must operate within the framework of statutory duties and powers agreed by Parliament. As well as being required to operate within this framework, the FCA is fully accountable to Parliament for how it discharges its statutory functions.</p><p> </p><p>This direct accountability to Parliament reflects the FCA’s statutory independence and the fact that it is solely responsible for everyday operational decisions without Government approval or direction, and so it is primarily accountable for them. The Government has no plans to support a cross-party parliamentary investigation into the FCA’s handling of issues relating to Azure Services Limited, as this would be a matter for Parliament. That notwithstanding, the Treasury plays an important role in holding the FCA accountable, including through engaging closely with the FCA across all levels of seniority.</p><p> </p><p>The Government recognises the impact on consumers as a result of Azure Services’ business practices whilst it operated as a credit broker without the relevant Office of Fair Trading (OFT) licence and, later on, FCA authorisation. However, the Government notes the decision by Barclays Partner Finance to refund over £210m to customers who took out a loan following an introduction by Azure Services. Barclays Partner Finance is currently putting in place the necessary arrangements for this programme of remediation and has committed to contact impacted customers before the end of the year to set out the next steps.</p> answering member constituency Havant answering member printed Alan Mak grouped question UIN 47574 question first answered 08/09/2022 09:49:10 answering member 4484 label Biography information for Alan Mak
	tabling member	4435 label Biography information for Patricia Gibson

1505158

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Azure Services: Loans
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will take steps to support a cross-party investigation into the Financial Conduct Authority's handling of the mis-selling of timeshares by Azure Services Limited.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	47574
	answer	answer is ministerial correction date of answer 08/09/2022 answer text <p>The Financial Conduct Authority (FCA) has been established as an independent regulator responsible for the supervision and regulation of conduct in financial services. The FCA’s independence from Government does not mean it can act arbitrarily, rather it must operate within the framework of statutory duties and powers agreed by Parliament. As well as being required to operate within this framework, the FCA is fully accountable to Parliament for how it discharges its statutory functions.</p><p> </p><p>This direct accountability to Parliament reflects the FCA’s statutory independence and the fact that it is solely responsible for everyday operational decisions without Government approval or direction, and so it is primarily accountable for them. The Government has no plans to support a cross-party parliamentary investigation into the FCA’s handling of issues relating to Azure Services Limited, as this would be a matter for Parliament. That notwithstanding, the Treasury plays an important role in holding the FCA accountable, including through engaging closely with the FCA across all levels of seniority.</p><p> </p><p>The Government recognises the impact on consumers as a result of Azure Services’ business practices whilst it operated as a credit broker without the relevant Office of Fair Trading (OFT) licence and, later on, FCA authorisation. However, the Government notes the decision by Barclays Partner Finance to refund over £210m to customers who took out a loan following an introduction by Azure Services. Barclays Partner Finance is currently putting in place the necessary arrangements for this programme of remediation and has committed to contact impacted customers before the end of the year to set out the next steps.</p> answering member constituency Havant answering member printed Alan Mak grouped question UIN 47726 question first answered 08/09/2022 09:49:10 answering member 4484 label Biography information for Alan Mak
	tabling member	4435 label Biography information for Patricia Gibson

1505087

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Commodity Markets
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of lifting constraints on commodity market speculation introduced following the 2008 (a) finance and (b) food price crisis.
	tabling member constituency	Ealing Central and Acton
	tabling member printed	Dr Rupa Huq
	uin	47615
	answer	answer is ministerial correction date of answer 21/09/2022 answer text <p>The Government believes effective commodities markets regulation is a key part of ensuring economic stability. This is a lesson reinforced by both the food and financial crises in the 2000s. In response to G20 commitments, the EU put in place a regime that sets limits on the amounts of commodity derivatives that market participants can hold, to ensure speculation does not lead to economic harm.</p><p> </p><p>The Government supports the application of position limits to the most volatile commodities (including key energy and agricultural products). However, the regime that we have inherited from the EU is overly complicated, needlessly burdensome and poorly designed. In particular, it unnecessarily captures all exchange traded and economically equivalent over-the-counter commodity derivative contracts including those that have low levels of low volatility and risk. This undermines efficient pricing in many such contracts and creates burdens for firms.</p><p> </p><p>To address this, the Financial Services and Markets Bill will ensure exchanges can once again set position limits, within an FCA framework. Exchanges are well placed to ensure that such position limits only apply to contracts that are subject to high volatility. Agricultural products and other key physically settled contracts such as oil and gas will remain subject to position limits. The FCA will also powers to intervene to set position limits if need be.</p><p> </p><p>These changes were consulted on and received broad support[1] and is in line with the Government’s G20 commitments.</p><p> </p><p>[1] Wholesale Markets Review Consultation: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/998165/WMR_condoc_FINAL_OFFICIAL_SENSITIVE_.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/998165/WMR_condoc_FINAL_OFFICIAL_SENSITIVE_.pdf</a></p><p>Wholesale Markets Review Response: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1057897/Wholesale_Markets_Review_Consultation_Response.pdf</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 21/09/2022 07:12:13 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4511 label Biography information for Dr Rupa Huq

1504978

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Investment: Classification Schemes
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what his timetable is for the publication of the consultation on the UK's Sustainable Investment Taxonomy in the context of the energy crisis.
	tabling member constituency	Rother Valley
	tabling member printed	Alexander Stafford
	uin	47715
	answer	answer is ministerial correction date of answer 15/09/2022 answer text <p>It is important to get this policy right for the UK. The UK Green Taxonomy Consultation is under review and the Government will be setting out next steps in due course.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 15/09/2022 14:55:50 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4866 label Biography information for Alexander Stafford

1504815

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Infrastructure Bank: Staff
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many UK Infrastructure Bank staff have been appointed to be based in (a) Leeds and (b) rest of the UK as of 5 September 2022.
	tabling member constituency	Leeds North West
	tabling member printed	Alex Sobel
	uin	47639
	answer	answer is ministerial correction date of answer 14/09/2022 answer text <p>At 5 September 2022, the UK Infrastructure Bank has a total workforce of 160, including interim contractors and government secondees. More than 40% of this total workforce are based in Leeds.</p><p> </p><p>Of these, 15 are permanent employees of which 10 are contracted to Leeds and 5 are contracted to London. All those contracted to London transferred on their existing terms from the Infrastructure and Projects Authority. The Bank’s Chief Executive and the permanent Executive Directors are all contracted to Leeds.</p><p> </p><p>The Bank is now recruiting its permanent workforce. By late 2023, it is intended that 90% of the Bank’s staff will be based outside of London, with the majority of those in Leeds.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 14/09/2022 09:30:03 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4658 label Biography information for Alex Sobel

1504977

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Nuclear Power: Government Securities
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the statement in the Green Finance Framework published on 30 June 2021 that the Government will not finance any nuclear energy-related expenditures under that Framework, when he next plans to review that Framework; and if he will make an assessment of the potential impact of including nuclear energy in the scope of a revised Framework on (a) progress towards achieving Net Zero and (b) energy security.
	tabling member constituency	Rother Valley
	tabling member printed	Alexander Stafford
	uin	47714
	answer	answer is ministerial correction date of answer 14/09/2022 answer text <p>As set out in the Green Financing Framework, the government recognises that nuclear is, and will continue to be, a key part of the UK’s low-carbon energy mix alongside solar and wind generation and carbon capture and storage. All these technologies are important in tackling climate change and diversifying the UK’s supply, contributing to the UK’s energy security and sustainable growth.</p><p> </p><p>HM Treasury will review the Framework on a regular basis. It may be amended from time to time to take account of any changes that HM Treasury considers appropriate.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 14/09/2022 09:27:56 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4866 label Biography information for Alexander Stafford

1504661

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pay: Inflation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what steps, if any, they are taking to ensure that wage levels keep pace with inflation.
	tabling member printed	Lord Hendy
	uin	HL2120
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The government understands that people across the UK are worried about the rising cost of living.</p><p> </p><p>On 8 September, the government announced that the Energy Price Guarantee will supersede the energy price cap, which means that a typical UK household will pay no more than £2500 a year on their energy bill over the next 2 years from 1 October.</p><p> </p><p>To address cost of living in the longer term, it is important that we help people into work, support them to increase their incomes and ensure they keep more of what they earn.</p><p> </p><p>In April, the National Living Wage (NLW) increased by 6.6% to £9.50 an hour for workers aged 23 and over, which is expected to benefit more than 2 million workers. This means an increase of over £1,000 to the annual earnings of a full-time worker on the NLW.</p><p> </p><p>We are also supporting people to improve their earnings prospects and support their success in the labour market. At Spending Review 2021, the government confirmed that it is investing a total of £3.8 billion in skills in England by 2024-25.</p><p> </p><p>More broadly, our economic plan will be pro-growth. As a matter of priority, the Chancellor will set out a package of measures to deliver on the Prime Minister’s commitment to cut taxes and boost growth, laying the groundwork for the change we need in the long term to make our economy stronger.</p> answering member printed Baroness Penn question first answered 20/09/2022 09:44:10 answering member 4726 label Biography information for Baroness Penn
	tabling member	4723 label Biography information for Lord Hendy

1504821

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: British Nationals Abroad
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what plans they have, if any, to help British expatriates whose banking facilities in the UK are being closed as a result of Brexit.
	tabling member printed	Lord Black of Brentwood
	uin	HL2067
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The provision of banking services, including whether UK firms can service EEA-based customers, is a commercial decision for firms based on a variety of factors, including the local law and regulation of individual countries, an assessment of profitability or other commercial drivers. The Government does not intervene in these commercial decisions.</p><p> </p><p>Nonetheless, the Government expects banks to act lawfully and in accordance with local regulators’ expectations. We also expect that banks work to ensure good outcomes for their customers and provide timely communications to enable them to make appropriate decisions.</p><p> </p><p>UK providers are expected to contact impacted customers if they need to make any changes to their product or the way it is provided. We encourage customers with questions or concerns to speak to their banking service provider.</p> answering member printed Baroness Penn question first answered 20/09/2022 09:41:42 answering member 4726 label Biography information for Baroness Penn
	tabling member	4171 label Biography information for Lord Black of Brentwood

1504734

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Income Tax: Tax Rates and Bands
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what is their estimate of the number of adults (1) in paid work, and (2) not in paid work, who have incomes below the income tax threshold.
	tabling member printed	Baroness Lister of Burtersett
	uin	HL2134
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>Estimates of the number of adults in paid work and not in paid work who have incomes below the Income Tax Personal Allowance during the 2019-20 tax year, the latest year for which these figures are available, are set out below.</p><p> </p><table><tbody><tr><td><p> </p></td><td><p>Estimated number of adults in 2019-20 (millions)</p></td></tr><tr><td><p>Paid work</p></td><td><p>10.2</p></td></tr><tr><td><p>Not in paid work</p></td><td><p>6.7</p></td></tr><tr><td><p>Total</p></td><td><p>16.9</p></td></tr></tbody></table><p> </p><p>Source: Survey of Personal Incomes, tax year 2019 to 2020</p><p> </p><p> </p><p>The Income Tax Personal Allowance for the 2019-20 tax year is £12,500. The adult population (individuals aged 18 and over) in paid work is based on individuals with employment and/or self-employment income. Other income amounts such as occupational or State pension is not included as paid work but individuals with incomes such as pensions could be in either category. The data underlying the Survey of Personal Incomes is based on a large sample of over 820,000 individuals with incomes reported to HMRC. As is the case with the published Personal Incomes Statistics, these figures are statistical estimates and will be subject to sampling variation.</p> answering member printed Baroness Penn question first answered 20/09/2022 09:11:04 answering member 4726 label Biography information for Baroness Penn
	tabling member	4234 label Biography information for Baroness Lister of Burtersett

1504753

	registered interest
	date	05/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Property Development: Money Laundering
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the effectiveness of anti-money laundering regulations in the domestic and corporate property sector.
	tabling member printed	Baroness Ritchie of Downpatrick
	uin	HL2163
	answer	answer is ministerial correction date of answer 20/09/2022 answer text <p>The Money Laundering Regulations 2017 (MLRs) require regulated businesses, including estate and lettings agents, to have robust controls in place to prevent abuse for the purposes of money laundering or terrorist financing. The MLRs are not prescriptive in setting out how firms should carry out customer due diligence. However they do require these firms, which are key facilitators of property transactions, to take a proportionate and risk based approach to checks on all involved parties.</p><p> </p><p>HMRC is the designated AML supervisor for estate and letting agents. HMRC provides guidance to businesses to support compliance and has powers to enforce penalties in response to breaches of the MLRs, including imposing fines.</p><p> </p><p>HM Treasury published a review of the UK’s anti-money laundering/countering-terrorist financing (AML/CTF) regulatory and supervisory regime in June 2022. This review assessed the effectiveness of the MLRs and found that the regulations are comprehensive, robust and allow for firms to take a risk-based approach to target their activity at the areas of highest risk. It also set out plans for future work to strengthen the UK’s AML regime, including a consultation on further reform to the supervisory regime.</p> answering member printed Baroness Penn question first answered 20/09/2022 09:07:19 answering member 4726 label Biography information for Baroness Penn
	tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick