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1338666

	registered interest
	date	22/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Fraud
	house id	1
	legislature	25259 pref label House of Commons
	question text	What recent discussions he has had with the Financial Conduct Authority on tackling online financial crime.
	tabling member constituency	East Ham
	tabling member printed	Stephen Timms
	uin	901634
	answer	answer is ministerial correction date of answer 22/06/2021 answer text <p>Whilst the FCA is an independent, non-governmental regulator, the Treasury, as the department jointly responsible for economic crime policy with Home Office, is in regular contact with the FCA on matters to do with online financial crime. I can confirm that my officials hold regular discussions with their FCA counterparts on these issues, including on the delivery of the Economic Crime Plan, the prevention of online harms, including financial promotions and online fraud, and issues related to anti-money laundering supervision. In addition, the FCA is a member of the Economic Crime Strategic Board, through which the government, regulators, law enforcement, and industry discuss and drive forward the UK’s overall response to economic crime.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 22/06/2021 13:27:08 answering member 4051 label Biography information for John Glen
	tabling member	163 label Biography information for Sir Stephen Timms

1337234

	registered interest
	date	16/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Private Equity
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he plans to take steps to protect investors in the UK from equity buyouts.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	16847
	answer	answer is ministerial correction date of answer 22/06/2021 answer text <p>The Government is committed to ensuring that the UK continues to represent an attractive and fair place to do business, and is a world-leading, global financial centre. Investment is central to this vision and the UK has some of the world’s deepest and most liquid equity markets, attracting the best companies from around the globe and connecting them with investors.</p><p> </p><p>The Takeover Code, written and enforced by the Takeover Panel, ensures investors are given an appropriate degree of protection when there is a takeover of a company. It ensures that investors are treated equally, given appropriate information, and have time to consider the offer.</p><p> </p><p>Further to this, in the recently published Audit Reform white paper, the Government set out its ambitious plans to strengthen the UK’s audit, company reporting and corporate governance framework. The reforms will ensure that the UK’s most significant corporate entities are regulated responsibly and will empower investors by giving them access to reliable and meaningful information on company performance. Under the proposals, a reformed statutory regulator will be given new investigation and enforcement powers in relation to wrongdoing by directors. Additional measures will support company resilience and protect the interests of shareholders.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 22/06/2021 08:21:28 answering member 4051 label Biography information for John Glen
	tabling member	4131 label Biography information for Jim Shannon

1337935

	registered interest
	date	17/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debt Respite Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of including universal credit advance payments in the Debt Respite Scheme (Breathing Space).
	tabling member constituency	Coventry South
	tabling member printed	Zarah Sultana
	uin	17855
	answer	answer is ministerial correction date of answer 22/06/2021 answer text <p>The breathing space scheme launched on 4 May 2021, and includes most personal debts and debts owed to Government, including Universal Credit overpayments. The Government considers that, for breathing space to be successful, it needs to include a wide range of debts.</p><p> </p><p>The Government recognises the importance of including all Universal Credit debts in breathing space, and is committed to including Universal Credit advances within the scheme as soon as possible.</p><p> </p><p>This will happen at a later date to ensure that the significant IT changes the Department for Work and Pensions needs to make do not compromise the safe delivery of Universal Credit, which is now supporting 6 million people. It has always been possible to defer repayments of Universal Credit Advances for 3 months in cases of hardship. In addition, from April 2021, the timeframe for the repayment of advances has been extended from 12 months to 24 months.</p> answering member constituency Salisbury answering member printed John Glen question first answered 22/06/2021 11:21:47 answering member 4051 label Biography information for John Glen
	tabling member	4786 label Biography information for Zarah Sultana

1337312

	registered interest
	date	16/06/2021
	answering body	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 the Chancellor of the Exchequer, what steps his Department is taking to support the financial services sector following the end of the transition period.
	tabling member constituency	Crewe and Nantwich
	tabling member printed	Dr Kieran Mullan
	uin	17017
	answer	answer is ministerial correction date of answer 22/06/2021 answer text <p>The Chancellor set out the Government’s strategy on financial services to the House in November, a vision of a sector that is more open; more technologically advanced; and a world-leader in the use of green finance, serving the communities and citizens of this country.</p><p> </p><p>Since then we have passed a Financial Services Act to begin the necessary reforms to our framework, and agreed text with the EU for a regulatory cooperation forum paving the way for a more stable relationship.</p><p> </p><p>In addition, we have set out our response to Ron Kalifa’s review of UK Fintech to ensure we continue to build on our existing strengths as a world leader in financial technology. We’ve also set out how we will take forward each of the recommendations in Lord Hill’s recent Listings Review that were addressed to the Treasury, and shared our plans to consult on reforms to the wider capital markets regime this summer, with the aim of supporting competitiveness, whilst ensuring the UK maintains high regulatory standards.</p> answering member constituency Salisbury answering member printed John Glen question first answered 22/06/2021 08:35:28 answering member 4051 label Biography information for John Glen
	tabling member	4860 label Biography information for Dr Kieran Mullan

1337345

	registered interest
	date	16/06/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that cash continues to be accepted at businesses throughout the UK.
	tabling member constituency	Watford
	tabling member printed	Dean Russell
	uin	16979
	answer	answer is ministerial correction date of answer 22/06/2021 answer text <p>The Government recognises that the ability to transact in cash remains important to millions of people across the UK and has committed to legislating to protect access to cash.</p><p> </p><p>The Government made legislative changes to support the widespread offering of cashback without a purchase by shops and other businesses as part of the Financial Services Act 2021. Furthermore, the Government has announced that it will consult this summer on further legislative proposals for protecting cash for the long term.</p><p> </p><p>However, firms should continue to be able to make decisions over which payments methods they offer their customers on a commercial basis, including cash, cards, and digital payments.</p> answering member constituency Salisbury answering member printed John Glen question first answered 22/06/2021 08:23:14 answering member 4051 label Biography information for John Glen
	tabling member	4812 label Biography information for Dean Russell