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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

1584694

	registered interest
	date	06/02/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pensions: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he plans to further review the annual allowance tax charge for those in receipt of a pension in (a) the aviation sector and (b) other sectors experiencing skill shortages in order to ensure that highly skilled workers are retained in those sectors.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	140260
	answer	answer is ministerial correction date of answer 09/02/2023 answer text <p>Pensions tax relief is one of the most expensive reliefs in the personal tax system. In 2020/21 Income Tax and employer National Insurance Contributions relief cost £67.3 billion. The annual and lifetime allowances help to ensure that the highest earning pension savers do not receive a disproportionate benefit. 99 per cent of pension savers make annual contributions below £40,000, the level of standard annual allowance.</p><p> </p><p>All aspects of the tax system are kept under review as part of the annual Budget process, and in the context of the wider public finances.</p><p> </p><p>We are fully committed to supporting the aviation industry as it is vital to our future as a global trading nation as well as playing an important role in local economies. In May 2022, the Government published Flightpath to the Future - our strategic framework for the sector to build back better, make UK aviation cleaner, greener and more competitive than ever before. It also explores key issues including workforce and skills, recovery, global impact, innovation and decarbonisation.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 09/02/2023 12:11:02 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4435 label Biography information for Patricia Gibson

1582209

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Blackmore Bond: Insolvency
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions he has had with Cabinet colleagues on addressing the accountability of financial regulators after the collapse of Blackmore Bond plc.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	136624
	answer	answer is ministerial correction date of answer 03/02/2023 answer text <p>The Government considers it is vitally important that there are appropriate mechanisms in place to ensure the financial services regulators are accountable for all aspects of their performance.</p><p> </p><p>The FCA is responsible for ensuring consumer protection for a broad range of financial services products. However, it does not regulate all financial services firms and products. Blackmore Bond Plc was not authorised by the FCA and the sale of the ‘mini-bond’ product it offered was not an activity regulated by the FCA.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 03/02/2023 12:29:50 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4435 label Biography information for Patricia Gibson

1543930

	registered interest
	date	21/11/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has had recent discussions with Cabinet colleagues on the potential merits of (a) providing support to and (b) bringing forward proposals to help cap mortgage interest rates for people who have been required to pay high standard variable rates since 2008.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	92248
	answer	answer is ministerial correction date of answer 24/11/2022 answer text <p>The cohort of borrowers referred to in this question are so-called mortgage prisoners. The Financial Conduct Authority’s (FCA) review into mortgage prisoners, published in November 2021, found that the population of mortgage prisoners is varied and complex. There is no single measure to address all of the circumstances this population of mortgage holders face.</p><p> </p><p>The Government has worked with the FCA to implement changes to its mortgage lending rules, removing the regulatory barrier that prevented some customers, who otherwise may have been able to switch, from accessing new products. Any further work on this issue must consider the practicality of solutions and their effects on the wider mortgage market, including the resilience of firms and fairness to other borrowers.</p><p> </p><p>A cap on the Standard Variable Rates (SVRs) charged by inactive firms would be an unprecedented market intervention and would undermine the principle of risk-based pricing that underlies the mortgage market. It would entail risks to the financial stability of firms, who would be unable to vary their rates in line with their funding costs, and would be unfair to borrowers in the wider mortgage market who pay similar rates to mortgage prisoners. It is also important to note that the SVRs charged by inactive firms are in line with those paid by borrowers in the active market.</p><p>Ultimately, the pricing of mortgages is a commercial decision for lenders. However, if mortgage borrowers do fall into financial difficulty, FCA guidance requires firms to provide support through tailored forbearance options. The Government has also taken a number of measures aimed at helping people to avoid repossession, including Support for Mortgage Interest loans for those in receipt of an income-related benefit, and protection in the courts through the Pre-Action Protocol, which makes clear that repossession must always be the last resort for lenders.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 24/11/2022 10:53:40 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4435 label Biography information for Patricia Gibson

1628103

	registered interest
	date	16/05/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Members: Correspondence
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, when his Department plans to respond to the correspondence of 8 February 2023 and 24 March 2023 from the hon. Member for North Ayrshire and Arran on money laundering regulations.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	185361
	answer	answer is ministerial correction date of answer 22/05/2023 answer text <p>I would like to reassure the hon. Member that her letter is receiving urgent attention and will be responded to imminently.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 22/05/2023 14:24:51 answering member 4850 label Biography information for Gareth Davies
	tabling member	4435 label Biography information for Patricia Gibson

1626028

	registered interest
	date	05/05/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Vegetable Oils: Excise Duties
	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 merits of reducing the fuel duty rate of Hydrotreated Vegetable Oil for heating to match that of kerosene heating oil.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	183906
	answer	answer is ministerial correction date of answer 11/05/2023 answer text <p>Hydrotreated vegetable oil (HVO) is a form of renewable diesel and therefore benefits from the rebated duty rate of 10.18 pence per litre (ppl) when used for domestic heating. Kerosene is fully rebated. In contrast, the fuel duty rate for road diesel and petrol is 52.95 ppl.</p><p> </p><p>Concerning the Government’s position on HVO’s potential as a heating fuel, the Government's biomass policy statement of November 2021 set out that deployment of biofuels, such as HVO for off-gas-grid heating, will be limited by constraints on the global availability of sustainable biomass feedstocks, and potential alternative uses to decarbonise other sectors of the economy. Low temperature heat pumps offer a scalable way of decarbonising heating. However, the Government recognises that biofuels such as bioLPG and HVO may play a role in future off-gas-grid decarbonisation, particularly for properties that are not suitable for a heat pump.</p><p> </p><p>The forthcoming Biomass Strategy will review the amount of sustainable biomass available to the UK, including liquid biofuels such as HVO, and how this could be best used across the economy to achieve our net zero target.</p><p> </p><p>As with all taxes, the Government keeps the tax treatment of HVO under review.</p><p> </p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 11/05/2023 09:05:56 answering member 4850 label Biography information for Gareth Davies
	tabling member	4435 label Biography information for Patricia Gibson

1440182

	registered interest
	date	11/03/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mileage Allowances
	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 merits of increasing Mileage Allowance Payments in the context of the recent increase in petrol and diesel prices.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	138314
	answer	answer is ministerial correction date of answer 16/03/2022 answer text <p>The Government sets the Approved Mileage Allowance Payments (AMAPs) rates to minimise administrative burdens.</p><p> </p><p>Organisations are not required to use the AMAPs rates. Instead, they can agree to reimburse the actual cost incurred, where individuals can provide evidence of the expenditure, without an Income Tax or National Insurance charge arising.</p><p> </p><p>Alternatively, they can choose to pay a different mileage rate that better reflects their employees’ circumstances. However, if the payment exceeds the amount due under AMAPs, and this results in a profit for the individual, they will be liable to pay Income Tax and National Insurance contributions on the difference.</p><p> </p><p>The Government keeps this policy under review.</p><p> </p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 16/03/2022 13:48:21 answering member 4527 label Biography information for Helen Whately
	tabling member	4435 label Biography information for Patricia Gibson

1420856

	registered interest
	date	08/02/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Energy: Park Homes
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether the recent announcement of an upfront delayed payment of £200 on energy bills will apply to those living in park homes who purchase their electricity via the park home owner; and whether other support will be provided to park home residents.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	120807
	answer	answer is ministerial correction date of answer 21/02/2022 answer text <p>There are certain situations where a third party will be responsible for the bill (and be named on it). In this situation, any electricity charges are then passed onto the end user, typically through an all-inclusive rent (in the case of a landlord/tenant) or ‘pitch’ charges, e.g. for a park home.</p><p> </p><p>The Department for Business, Energy and Industrial Strategy (BEIS) will explore this issue further, including by gathering further information via the government consultation.</p><p> </p><p>Under the Warm Home Discount, currently suppliers have the option to spend up to £40 million per year on Industry Initiatives. Industry Initiatives provide valuable support to vulnerable households, including those not eligible for the rebate. The Park Homes Warm Home Discount Scheme is one such initiative, where customers can apply for a rebate if they live in a park home. Last summer Government consulted on reforms to the Warm Home Discount, including making Industry Initiatives mandatory from 2022/23.</p><p> </p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 21/02/2022 14:39:06 answering member 4527 label Biography information for Helen Whately
	tabling member	4435 label Biography information for Patricia Gibson

1399289

	registered interest
	date	04/01/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Travel: Government Assistance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will have discussions with the Secretary of State for Transport on additional support for the UK travel industry in response to the (a) imposition of covid-19 related restrictions on and (b) reductions in international travel.
	tabling member constituency	North Ayrshire and Arran
	tabling member printed	Patricia Gibson
	uin	96945
	answer	answer is ministerial correction date of answer 10/01/2022 answer text <p>The Chancellor speaks to his colleagues on a regular basis about a range of matters.</p><p> </p><p>Ultimately the best way to support aviation and the wider travel sector is through the safe and sustainable recovery of international travel, which is why we have recently confirmed the removal of pre-departure and day 2 PCR test requirements for eligible fully vaccinated passengers and all under 18s arriving in England. The Government is working with the Devolved Administrations to ensure a four-nation approach, which we fully support.</p><p> </p><p>We have worked closely with the travel sector throughout the pandemic to help find ways to enable people to travel safely, while protecting public health. The aviation and aerospace sectors are being supported with over £12 billion made available through loan guarantees, support for exporters, the Bank of England’s Covid Corporate Financing Facility and grants for research and development.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 10/01/2022 12:00:57 answering member 4527 label Biography information for Helen Whately
	tabling member	4435 label Biography information for Patricia Gibson