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1122396
star this property registered interest false more like this
star this property date less than 2019-04-23more like thismore than 2019-04-23
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury more like this
star this property hansard heading Personal Savings: Older People more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps he is taking to enable older people to (a) build and (b) maintain an adequate level of savings. more like this
star this property tabling member constituency Newcastle-under-Lyme remove filter
star this property tabling member printed
Paul Farrelly more like this
star this property uin 246476 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2019-04-30more like thismore than 2019-04-30
star this property answer text <p>The Government is committed to supporting people of all incomes and at all stages of life to save.</p><p> </p><p>Older people will continue to benefit from a number of measures the Government has introduced in recent years.</p><p> </p><p>The Government has increased the amount that individuals, including older people and those of State Pension age, can earn or receive in savings interest before paying income tax to £12,500 per year. As a result, people can keep more of their income to invest as they choose.</p><p> </p><p>The amount of money that people can save into their ISAs each year (the annual subscription allowance) has been increased to a record £20,000.</p><p> </p><p>Since April 2016, individuals have also been able to benefit from a new Personal Savings Allowance of up to £1,000 for basic rate taxpayers and up to £500 for higher rate taxpayers.</p><p> </p><p>As a result of these measures, over 95% of people with savings income pay no tax on that income.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property question first answered
remove maximum value filtermore like thismore than 2019-04-30T16:13:50.017Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
1436
unstar this property label Biography information for Paul Farrelly more like this
1121732
star this property registered interest false more like this
star this property date less than 2019-04-18more like thismore than 2019-04-18
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
unstar this property answering dept sort name Treasury more like this
star this property hansard heading House Insurance more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, with reference to the 10 April 2019 Insurance Age article entitled Citizens Advice slams home insurers in dual pricing report, what assessment he has made of the implications for his Department's policies of the finding that home insurance companies make over half of their profits from people defined by the regulator as potentially vulnerable. more like this
star this property tabling member constituency Newcastle-under-Lyme remove filter
star this property tabling member printed
Paul Farrelly more like this
star this property uin 245669 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2019-04-25more like thismore than 2019-04-25
star this property answer text <p>The Government is focussed on ensuring that the insurance industry functions well for everyone.</p><p> </p><p>To that end, Government welcomed the launch of the FCA’s General Insurance Pricing Practices Market Study in October 2019. The Market Study is investigating consumer outcomes from insurers’ pricing practices; it is looking specifically at the potential harm suffered by the vulnerable long-standing customers that Citizens Advice refers to in its press release of 10 April 2019. As a part of the Market Study the FCA will consider all potential remedies that may be required to make the market work well for consumers.</p><p> </p><p>The FCA is empowered to address misconduct, and where this has occurred it can undertake investigations and impose financial penalties or order firms to cease certain activities.</p><p> </p><p>The Government is monitoring the outcome of this Market Study and is prepared to ask the FCA to take further action if required.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen remove filter
star this property question first answered
less than 2019-04-25T08:49:18.08Zmore like thismore than 2019-04-25T08:49:18.08Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
1436
unstar this property label Biography information for Paul Farrelly more like this