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1697852

registered interest
date	21/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Standards
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to publish a report on the impact of Consumer Duty on consumer contact with financial services firms in the 12 months since it's establishment.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	19809
answer	answer is ministerial correction date of answer 26/03/2024 answer text <p>The Government has no plans to publish a report on the impact of the Consumer Duty.</p><p> </p><p>The Consumer Duty was introduced by the Financial Conduct Authority (FCA), which is operationally independent from Government and is directly accountable to Parliament for how it carries out its functions. The FCA has committed to monitoring the outcomes experienced by different consumer groups, including those in vulnerable circumstances, to check they are not being disadvantaged as a result of the Duty. It also publishes information about the implementation of the Consumer Duty by firms, including examples of good practice and areas for improvement, on its website: https://www.fca.org.uk/firms/consumer-duty</p><p> </p><p>The Financial Services and Markets Act 2023 introduced a new requirement on the financial services regulators to keep their rules under review, and to publish a statement of policy for how they conduct rule reviews. The FCA’s rule review framework can be found at: <a href="https://www.fca.org.uk/publications/corporate-documents/our-rule-review-framework" target="_blank">https://www.fca.org.uk/publications/corporate-documents/our-rule-review-framework</a>.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/03/2024 15:42:29 answering member 4639 label Biography information for Bim Afolami
tabling member	1409 label Biography information for Mr Gregory Campbell

1697856

registered interest
date	21/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Payment Methods
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 National Payments Vision.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	19835
answer	answer is ministerial correction date of answer 28/03/2024 answer text <p>Payments are essential to the UK’s economy, both for individuals and for businesses, and are a cornerstone of growth and competitiveness. The government is committed to maintaining the UK’s reputation for a world-leading payments ecosystem and will publish the National Payments Vision as soon as possible later this year.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 19836 19837 question first answered 28/03/2024 09:06:13 answering member 4639 label Biography information for Bim Afolami
tabling member	1586 label Biography information for Adam Afriyie

1697857

registered interest
date	21/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Payment Methods
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, which stakeholders he is consulting on the National Payments Vision.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	19836
answer	answer is ministerial correction date of answer 28/03/2024 answer text <p>Payments are essential to the UK’s economy, both for individuals and for businesses, and are a cornerstone of growth and competitiveness. The government is committed to maintaining the UK’s reputation for a world-leading payments ecosystem and will publish the National Payments Vision as soon as possible later this year.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 19835 19837 question first answered 28/03/2024 09:06:13 answering member 4639 label Biography information for Bim Afolami
tabling member	1586 label Biography information for Adam Afriyie

1697858

registered interest
date	21/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Payment Methods
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure the National Payments Vision results in meaningful competition in retail payments.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	19837
answer	answer is ministerial correction date of answer 28/03/2024 answer text <p>Payments are essential to the UK’s economy, both for individuals and for businesses, and are a cornerstone of growth and competitiveness. The government is committed to maintaining the UK’s reputation for a world-leading payments ecosystem and will publish the National Payments Vision as soon as possible later this year.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 19835 19836 question first answered 28/03/2024 09:06:13 answering member 4639 label Biography information for Bim Afolami
tabling member	1586 label Biography information for Adam Afriyie

1697510

registered interest
date	20/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to his Department's consultation entitled Regulation of Buy-Now Pay-Later: consultation on draft legislation, how many responses were received; and of those received, how many and what proportion were from (a) buy-now-pay-later providers, (b) charities and advocacy groups, (c) other financial service providers who do not offer buy-now-pay-later products and (d) members of the public.
tabling member constituency	Walthamstow
tabling member printed	Stella Creasy
uin	19613
answer	answer is ministerial correction date of answer 25/03/2024 answer text <p>A list of respondents will be included in the Government’s response to the consultation, which will be published in due course.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/03/2024 13:48:47 answering member 4639 label Biography information for Bim Afolami
tabling member	4088 label Biography information for Stella Creasy

1697053

registered interest
date	19/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pension Funds
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that investors in pension funds have the right (a) for complaints to be determined by the Financial Ombudsman Service and (b) to receive redress from the Financial Services Compensation Scheme.
tabling member constituency	Warwick and Leamington
tabling member printed	Matt Western
uin	19425
answer	answer is ministerial correction date of answer 22/03/2024 answer text <p>The Financial Ombudsman Service (FOS) can consider complaints about businesses regulated by the Financial Conduct Authority (FCA) which includes firms that provide self-invested personal pensions (SIPPs). The jurisdiction of the FOS, including which complaints it can deal with, is determined by the FCA and set out in the FCA Handbook. Whether a complaint is eligible or not is a matter for the FOS to consider.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 22/03/2024 11:22:06 answering member 4639 label Biography information for Bim Afolami
tabling member	4617 label Biography information for Matt Western

1697066

registered interest
date	19/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cost of Living: Disability
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what fiscal steps his Department is taking to provide financial support for disabled people with the rise in the cost of living.
tabling member constituency	Lewisham, Deptford
tabling member printed	Vicky Foxcroft
uin	19404
answer	answer is ministerial correction date of answer 26/03/2024 answer text <p>The government has demonstrated its commitment to supporting the most vulnerable. Over the last two years, the government has provided support to help households with the cost of living totalling £96 billion – an average of £3400 per UK household.</p><p> </p><p>Individuals who incur extra cost due to a long-term health conditions or disability may be eligible for Personal Independence Payment, which can be worth over £8,900 per year. This has been complemented in recent years with two £150 Disability Cost of Living Payments, to help the most vulnerable through the period of high inflation.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/03/2024 17:12:58 answering member 4639 label Biography information for Bim Afolami
tabling member	4491 label Biography information for Vicky Foxcroft

1697067

registered interest
date	19/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Learning Disability
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 increase the financial inclusion of people with a learning disability.
tabling member constituency	Lewisham, Deptford
tabling member printed	Vicky Foxcroft
uin	19405
answer	answer is ministerial correction date of answer 26/03/2024 answer text <p>The Government aims to ensure that all people have access to useful and affordable financial products and services. To promote financial inclusion, the Government works closely with the regulators and stakeholders from the public, private and third sectors.</p><p> </p><p>The FCA’s vulnerability guidance requires firms to identify vulnerable customers, which can include those with a learning disability, and to consider the needs of these customers appropriately.</p><p> </p><p>The Consumer Duty builds on this work by raising the standard expected from firms for all customers with a focus on delivering good outcomes and preventing harm.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/03/2024 17:11:38 answering member 4639 label Biography information for Bim Afolami
tabling member	4491 label Biography information for Vicky Foxcroft

1696665

registered interest
date	18/03/2024
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, what steps he is taking to (a) help ensure mortgage rate stability and (b) support the housing market.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	19136
answer	answer is ministerial correction date of answer 25/03/2024 answer text <p>The path to lower interest rates is through low inflation, and the Government is fully committed to supporting the Bank of England get inflation back down to the 2% target, including by keeping borrowing under control.</p><p> </p><p>While the pricing of mortgages is ultimately a commercial decision for lenders in which the Government does not intervene, our plan is working, and the average offered mortgage rates on 2-year and 5-year fixed rates are now lower compared to their peak in Summer 2023. The Government’s Mortgage Charter - in addition to the significant safeguards already in place - is providing support to vulnerable households; and mortgage arrears and repossessions remain low.</p><p> </p><p>Housebuilding is a priority for this Government. At SR21, we demonstrated the Government’s commitment to investing in safe and affordable housing by confirming a settlement of nearly £24 billion up to 2025-26.</p><p> </p><p>In 2022-2023, more than 230,000 net additional dwellings were delivered and government is on track to meet our commitment to deliver one million additional homes across this Parliament.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/03/2024 13:55:48 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1696667

registered interest
date	18/03/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debt Collection
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that companies in the (a) finance and (b) utility sectors use best practice when collecting debts from vulnerable customers.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	19138
answer	answer is ministerial correction date of answer 25/03/2024 answer text <p>The Government wants to see fair treatment of individuals in problem debt, and there is a range of work underway across government and regulators to promote responsible debt collection practices.</p><p> </p><p>In June 2023 the FCA, Ofgem, Ofwat and Ofcom published a joint letter via the UK Regulators’ Network (UKRN) setting out how firms in their respective sectors should support customers in financial difficulty. On 18 March 2024, the same group of regulators issued further guidance, setting out their shared expectations on firms’ debt collection practices. This is to ensure that firms support customers in debt and that firms’ collection practices are not causing harm to customers.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/03/2024 13:50:26 answering member 4639 label Biography information for Bim Afolami
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi