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1196794

	registered interest
	date	18/05/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts: China
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 February 2020 to Question 13414 on Debts: China, whether his Department has made a revised assessment of that risk level since the answer was given.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	48268
	answer	answer is ministerial correction date of answer 27/05/2020 answer text <p>Recent data suggests that Chinese debt increased further in the first quarter of 2020, as the Covid-19 shock is pushing public and private borrowing even higher.</p><p>Several institutions, including the International Monetary Fund, raised concerns prior to the Covid-19 outbreak on the risks high levels of Chinese debt could pose to global financial stability. The Covid-19 shock is likely to exacerbate these risks.</p><p>In its interim Financial Stability Report published on 7 May 2020, the Bank of England’s Financial Policy Committee found that major UK banks should remain resilient to the Covid-19 shock to both UK and global economies, including China. HMT will continue to work alongside both the Bank of England and global institutions in monitoring the risks posed by Chinese indebtedness.</p> answering member constituency Salisbury answering member printed John Glen question first answered 27/05/2020 10:40:42 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1200614

	registered interest
	date	04/06/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Riot Control Weapons: USA
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what the value was of (a) tear gas, (b) rubber bullets and (c) riot shields exported to the US in each of the last five years.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	54854
	answer	answer is ministerial correction date of answer 09/06/2020 answer text <p>HM Revenue &amp; Customs (HMRC) are responsible for the collection and publication of data on UK imports and exports of goods to and from the UK. HMRC release this information monthly, as a National Statistic: the Overseas Trade in Goods Statistics.</p><p><strong> </strong></p><p>The trade data collected does not enable HMRC to distinguish exports of tear gas from other spring, air or gas guns and pistols or truncheons. The trade data collected also does not enable HMRC to distinguish exports of rubber bullets from other ammunition and projectiles or riot shields from other plastic articles.</p><p> </p><p>However, there is aggregated trade data available for the goods and periods requested on the uktradeinfo website, under ‘Build your own data tables’. The site also contains a ‘Help’ function with information on how to extract trade data.</p><p> </p><p>Trade data relating to all spring, air and gas guns and pistols and truncheons exported to the US can be found using commodity code 9304000000. Trade data relating to the value of all ammunition and projectiles can be searched for using commodity code 9306909000. Trade data relating to riot shields and other plastic articles can be found using commodity code 3926909790.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 09/06/2020 12:17:31 answering member 3991 label Biography information for Jesse Norman
	tabling member	318 label Biography information for John Spellar

1201744

	registered interest
	date	09/06/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Treasury: Social Distancing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the effect of distanced working during the covid-19 lockdown on the proposals for the closure of local branches of his Department's offices.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	57080
	answer	answer is ministerial correction date of answer 17/06/2020 answer text <p>HMRC remain committed to their locations strategy of moving to regional centres and specialist sites. Timescales for some existing office closures are currently under review due to the impact of COVID-19 on the construction of some regional centres. As is always the case, if there are ways in which HMRC can improve how they deliver their vital public services then they will seek to implement those improvements. This includes reviewing how HMRC have been able to respond to COVID-19 and determining whether and how they might be able to sustain any changes to ways of working that are proven to lead to better outcomes for both HMRC and taxpayers.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 17/06/2020 13:16:33 answering member 3991 label Biography information for Jesse Norman
	tabling member	318 label Biography information for John Spellar

1221200

	registered interest
	date	06/07/2020
	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 he plans to reply to the letter of 3 April 2020 from the right hon. Member for Warley regarding Ms Foley.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	69426
	answer	answer is ministerial correction date of answer 14/07/2020 answer text <p>The letter the Rt Hon. Member for Warley refers to was passed to HM Revenue and Customs and a response was issued on 4 May 2020. HMRC have confirmed that a further copy of that reply was sent to the Rt Hon. Member on 8 July 2020.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 14/07/2020 13:36:05 answering member 3991 label Biography information for Jesse Norman
	tabling member	318 label Biography information for John Spellar

1241431

	registered interest
	date	07/10/2020
	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 his Department's policy is on the right of customers to pay in cash.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	100286
	answer	answer is ministerial correction date of answer 15/10/2020 answer text <p>The Government recognises that cash remains important to millions of people across the UK, which is why it has committed to legislate to protect access to cash and to ensure that the UK’s cash infrastructure is sustainable long term.</p><p>The Government remains closely engaged with the financial regulators, including through the Treasury-chaired Joint Authorities Cash Strategy Group, to monitor and assess risks around cash relating to COVID-19. In order to help control the virus, all businesses and individuals are encouraged to follow the latest Government advice. To work safely during COVID-19, retailers have been recommended to minimise contact around transactions, for example, considering using contactless payments. However, it remains the individual retailer’s choice as to whether to accept or decline any form of payment, including cash or card.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/10/2020 10:40:14 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1241432

	registered interest
	date	07/10/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance: Prices
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to respond to the Financial Conduct Authority's report, General insurance pricing practices: Final report, published in September 2020.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	100287
	answer	answer is ministerial correction date of answer 15/10/2020 answer text <p>Consumers should be able to get a fair deal when purchasing insurance. The FCA has set out proposals to deliver this in its report on General Insurance Pricing Practices. We are engaging with the regulator and the sector on next steps and will be interested in the outcome of the FCA’s consultation due in early 2021.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/10/2020 10:37:57 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1259217

	registered interest
	date	08/12/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance Investigation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, when he plans to publish the report by Dame Elizabeth Gloster on London Capital and Finance.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	126777
	answer	answer is ministerial correction date of answer 15/12/2020 answer text <p>As set out in a Written Ministerial Statement on 24 November the Treasury is working with the FCA so that the government can lay before Parliament (and publish online) Dame Elizabeth’s report and the FCA’s response before the December recess. This remains the government’s intention.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 15/12/2020 14:23:12 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1284160

	registered interest
	date	04/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Coronavirus
	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 equity of companies (a) maintaining or (b) increasing (i) dividends and (ii) management bonuses while receiving financial support during the covid-19 outbreak.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	149160
	answer	answer is ministerial correction date of answer 11/02/2021 answer text <p>The Government acted quickly to deliver an unprecedented package of support measures, well-targeted at businesses in genuine need. It is our expectation that everyone should act responsibly and in the spirit of the package, and only claim and use support as intended.</p><p> </p><p>Under the Coronavirus Large Business Interruption Loan Scheme (CLBILS), borrowers are required to restrict dividend payments and are only allowed to make dividends payments which were a) declared before the CLBILS loan was taken out, b) are in keeping with similar dividends payments made in the preceding 12 months, and c) do not have a material negative impact on the borrower’s ability to repay the loan. Firms borrowing more than £50m will be required to agree to defer dividend payments and share buybacks, alongside restrictions on pay and bonuses for senior management. These restrictions remain in place until the loan has been repaid.</p><p> </p><p>Additionally, Companies accessing the Covid Corporate Financing Facility (CCFF) beyond 19 May 2021, are required to defer capital distributions, pay rises and cash bonuses to senior management. The Government continues to keep all measures under constant review.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 11/02/2021 14:17:32 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1284162

	registered interest
	date	04/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tax Avoidance: Netherlands
	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 prevent companies funnelling profits into low tax subsidiaries in the Netherlands.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	149161
	answer	answer is ministerial correction date of answer 12/02/2021 answer text <p>The UK has led international efforts to tackle avoidance by multinationals, including through the OECD Base Erosion and Profit Shifting (“BEPS”) Project which looks at aggressive tax planning strategies that exploit tax rules to artificially shift profits to low tax jurisdictions where there is little or no economic activity.</p><p> </p><p>This international collaboration has led to the introduction of hybrid mismatch rules that prevent multinationals exploiting differences in the tax systems of different countries, a requirement for UK headed large businesses to provide HMRC with a country-by-country report, detailing their global profits, tax and assets to ensure they are paying the correct tax on all their UK activity, and a Corporate Interest Restriction that protects against companies using intra-group loans to shift profits overseas.</p><p> </p><p>Alongside these multilateral efforts are UK domestic rules that have complemented these changes.</p><p> </p><p>In April 2015, the UK Government introduced the Diverted Profits Tax (‘DPT’). DPT was designed to counter contrived arrangements used by multinational corporations to shift their profits offshore and avoid paying tax in the UK on their economic activities here.</p><p> </p><p>In January 2019 HMRC launched a new Profit Diversion Compliance Facility (‘PDCF’) to encourage businesses to stop diverting profits and pay what is due. About two-thirds of the large businesses targeted so far have decided to use the facility to bring their tax affairs up to date quickly and efficiently, enabling HMRC to focus even more resources on investigating businesses which continue to divert profits.</p><p> </p><p>Multinationals can often have complicated tax affairs and HMRC are determined to ensure that their profits are correctly attributed, and they are paying all the tax they owe.</p><p> </p><p>Additional information about HMRC’s work to tackle profit diversion by multinational companies is available on GOV.UK along with the most recent Transfer Pricing and Diverted Profits Tax statistics:</p><p> </p><p><a href="https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-2019-to-2020/tackling-profit-diversion-by-multi-national-companies" target="_blank">https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-2019-to-2020/tackling-profit-diversion-by-multi-national-companies</a></p><p> </p><p><a href="https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-2019-to-2020" target="_blank">https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-2019-to-2020</a></p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 12/02/2021 13:51:40 answering member 3991 label Biography information for Jesse Norman
	tabling member	318 label Biography information for John Spellar

1293362

	registered interest
	date	01/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	International Transport: Republic of Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the effectiveness of TIR procedures for vehicles crossing the UK from Ireland to travel onward to the EU since the end of the transition period.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	160526
	answer	answer is ministerial correction date of answer 09/03/2021 answer text <p>HMRC have not carried out any assessments of effectiveness of TIR procedures for vehicles crossing the UK.</p><p> </p><p>The UK is a member of both the Common Transit Convention (CTC) and Transports Internationaux Routiers (TIR) conventions. Depending on preferences and suitability, a trader can choose to use the TIR or CTC process to move goods across borders using transit.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 09/03/2021 14:15:31 answering member 3991 label Biography information for Jesse Norman
	tabling member	318 label Biography information for John Spellar