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1466336

registered interest
date	26/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts: Developing Countries
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 bringing forward legislative proposals to require lenders to take part in internationally agreed debt relief.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	9911
answer	answer is ministerial correction date of answer 06/06/2022 answer text <p>The Government does not currently have any intention to pursue a legislative approach that would force private lenders to participate in debt relief initiatives.</p><p> </p><p>Any legislative approach would need to address a number of challenges. For example, legislating may increase the cost of finance for low-income countries or reduce the availability of finance to meet wider development goals.</p><p> </p><p>The Government is instead prioritising the implementation of the Common Framework for Debt Treatments beyond the DSSI. The UK, along with the G20 and Paris Club, agreed the Common Framework to deliver a long-term, sustainable approach to dealing with debt vulnerabilities. Private sector participation on at least as favourable terms as bilateral creditors is a fundamental principle of the Common Framework. We are fully focused on ensuring that the private sector plays its part in any debt treatments under the Framework.</p> answering member constituency Salisbury answering member printed John Glen question first answered 06/06/2022 09:25:46 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1466337

registered interest
date	26/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	BlackRock: Zambia
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions the Government has had with BlackRock on participating in internationally agreed debt relief in Zambia.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	9912
answer	answer is ministerial correction date of answer 06/06/2022 answer text <p>Zambia is one of three countries – along with Chad and Ethiopia - to have so far requested the Common Framework, which was agreed between the G20 and Paris Club to help deliver a long-term, sustainable approach for supporting low-income countries to tackle their debt vulnerabilities.</p><p> </p><p>Under the terms of the Common Framework, a debtor country that signs an MoU with participating official creditors will be required to seek from all private creditors a treatment at least as favourable. Accordingly, once Zambia signs an MoU for its case it will need to engage its private creditors to ensure their participation on comparable terms.</p><p> </p><p>The UK is fully committed to ensuring the private sector plays its part and the Government engages private sector creditors on international debt issues in a number of fora.</p> answering member constituency Salisbury answering member printed John Glen question first answered 06/06/2022 09:34:07 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1454942

registered interest
date	28/03/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent progress he has made on legislating to protect access to cash; and if he will make a statement.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	148249
answer	answer is ministerial correction date of answer 31/03/2022 answer text <p>The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.</p><p> </p><p>As part of the Financial Services Act 2021, the Government made legislative changes to support the widespread offering of cashback without a purchase by shops and other businesses.</p><p> </p><p>From 1 July to 23 September last year, the Government held the Access to Cash Consultation on further proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. The Government’s proposals intend to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities.</p><p> </p><p>The Government received responses to the consultation from a broad range of respondents, including individuals, businesses, and charities. The Government has carefully considered responses to the consultation and will set out next steps in due course.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 148070 148071 148149 question first answered 31/03/2022 16:24:44 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1352931

registered interest
date	06/09/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Individual Savings Accounts
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many people have been charged for making unauthorised withdrawals from Lifetime ISAs in each financial year since 2015-16.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	43546
answer	answer is ministerial correction date of answer 13/09/2021 answer text <p>Information on unauthorised Lifetime ISA withdrawals will be published in the next HMRC savings statistics publication and will be available via the gov.uk website.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 43547 question first answered 13/09/2021 10:11:42 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1352932

registered interest
date	06/09/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Individual Savings Accounts
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the total number of unauthorised withdrawals from Lifetime ISAs was in each financial year since 2015-16.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	43547
answer	answer is ministerial correction date of answer 13/09/2021 answer text <p>Information on unauthorised Lifetime ISA withdrawals will be published in the next HMRC savings statistics publication and will be available via the gov.uk website.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 43546 question first answered 13/09/2021 10:11:42 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1271697

registered interest
date	16/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	HSBC: Bounce Back Loan Scheme
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 effect of HSBC's decision to stop offering Bounce Back loans to non-HSBC UK customers on the accessibility of that scheme; and if he will make a statement.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	130767
answer	answer is ministerial correction date of answer 11/01/2021 answer text <p>The Government launched the Bounce Back Loan Scheme (BBLS) to ensure that the smallest businesses could access loans of up to £50,000 in a matter of just days. As of 13 December, the scheme has provided unprecedented support to business across the UK, with more than 1.4 million businesses accessing facilities totaling over £43.5 billion.</p><p>Throughout the COVID-19 pandemic, there has been unprecedented demand for banking services, this accompanied with working restrictions due to social distancing has meant banks have faced significant capacity pressures which has limited their ability to meet demand.</p><p> </p><p>The Government have always made clear to lenders that they should open to new customers as soon as it is operationally possible for them to do so. Lenders are fully aware of the current urgency, so we would expect them to respond appropriately to their customers’ needs. Whilst BBLS is 100% guaranteed by the Government, decisions about what products are offered to specific businesses remain commercial decisions for banks and building societies.</p><p> </p><p>The British Business Bank has so far accredited 29 BBLS lenders, including several non-banks and alternative lenders. Some lenders are still inviting applications from new customers, and many of those that are still only open to existing customers are regularly reviewing that position.</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/01/2021 08:43:14 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1259297

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	Bounce Back Loan Scheme
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 representatives of the financial sector on allowing non-banks to access direct funding for the Bounce Back Loan Scheme, as is available to high street banks.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	126909
answer	answer is ministerial correction date of answer 14/12/2020 answer text <p>The Government launched the Bounce Back Loan Scheme (BBLS) to ensure that the smallest businesses could access loans of up to £50,000 in a matter of just days. As of 15 November, the scheme had supported nearly 1.4 million businesses with facilities totaling over £42 billion.</p><p>The British Business Bank has so far accredited 29 lenders for BBLS, including several challenger banks and non-bank lenders.</p><p>The Treasury recognises the vital role that non-banks and challenger banks play in the provision of credit to SMEs. It is grateful for the way the sector has responded to the current crisis, and remains committed to promoting competition, and widening the funding options available to UK businesses.</p><p>The Government does not provide funding to lenders who are participating in the government loan schemes; lenders must source their own funding, as they do for standard business lending.</p><p>We have made changes to allow the transfer and assignment of the Government guarantee for all government-guaranteed loan schemes loans, which is something that NBLs have requested, to support their ability to access funding. We will continue to work with non-bank lenders to support their participation in the loan schemes.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 14/12/2020 13:36:06 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1243499

registered interest
date	14/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: 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 effect of mortgage holidays taken during the covid-19 outbreak on the credit ratings of mortgage prisoners.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	103551
answer	answer is ministerial correction date of answer 19/10/2020 answer text <p>Following the Coronavirus outbreak, the Government worked quickly with lenders and financial regulators to give people access to payment holidays on their mortgages. This gives customers a much-needed respite period, where no repayments on these products are due. It was necessary to bring this temporary measure in, in order to give customers time to smooth out their finances that may have taken a hit by the pandemic.</p><p> </p><p>The FCA issued guidance to all firms that engage in mortgage activities, this includes all borrowers whose mortgage is in a closed book or owned by an inactive lender.</p><p> </p><p>We were clear from the start, that anyone taking a one of these payment holiday should not suffer a worsening arrears status.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/10/2020 14:00:45 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1240399

registered interest
date	05/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Older People
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he has taken to ensure that older people are not disproportionately disadvantaged by (a) banks and (b) other financial organisations offering preferential interest rates to online-only customers.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	99001
answer	answer is ministerial correction date of answer 08/10/2020 answer text <p>The pricing of financial products remains a commercial decision for firms, in which the Government does not seek to intervene.</p><p> </p><p>UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles for Businesses. This includes a general requirement for firms to provide a prompt, efficient and fair service to all their customers.</p><p> </p><p>More broadly, protecting vulnerable customers, such as those with low digital skills, is a priority for the FCA. The FCA requires firms to identify particularly vulnerable customers, and to take these customers into consideration when designing products.</p><p> </p><p>Further to this, the FCA recently concluded a guidance consultation for firms on the fair treatment of vulnerable customers. While many firms have made significant progress on this, the Treasury and the FCA want to see the fair treatment of vulnerable consumers being taken seriously by all firms so that vulnerable consumers receive consistently fair treatment.</p><p> </p><p>The Treasury continues to work with firms and the FCA to ensure that the needs of vulnerable customers are met.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 99003 question first answered 08/10/2020 08:14:40 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady

1240479

registered interest
date	05/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Older People: Banks
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 proportionality of the effect on older people of banks offering preferential interest rates to online-only customers.
tabling member constituency	Glasgow North
tabling member printed	Patrick Grady
uin	99003
answer	answer is ministerial correction date of answer 08/10/2020 answer text <p>The pricing of financial products remains a commercial decision for firms, in which the Government does not seek to intervene.</p><p> </p><p>UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles for Businesses. This includes a general requirement for firms to provide a prompt, efficient and fair service to all their customers.</p><p> </p><p>More broadly, protecting vulnerable customers, such as those with low digital skills, is a priority for the FCA. The FCA requires firms to identify particularly vulnerable customers, and to take these customers into consideration when designing products.</p><p> </p><p>Further to this, the FCA recently concluded a guidance consultation for firms on the fair treatment of vulnerable customers. While many firms have made significant progress on this, the Treasury and the FCA want to see the fair treatment of vulnerable consumers being taken seriously by all firms so that vulnerable consumers receive consistently fair treatment.</p><p> </p><p>The Treasury continues to work with firms and the FCA to ensure that the needs of vulnerable customers are met.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 99001 question first answered 08/10/2020 08:14:40 answering member 4051 label Biography information for John Glen
tabling member	4432 label Biography information for Patrick Grady