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997246

registered interest
date	29/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the Chequers proposals set out in the Government's White Paper entitled The future relationship between the United Kingdom and the European Union, published in July 2018, whether the Government has made an assessment of the potential effect of the Chequers proposals on average net household income.
tabling member constituency	Carshalton and Wallington
tabling member printed	Tom Brake
uin	184840
answer	answer is ministerial correction date of answer 01/11/2018 answer text <p>The Government’s proposals, as set out in the 12 July White Paper, are the best way to protect jobs and avoid a hard border between Ireland and Northern Ireland. With negotiations ongoing, it would not be practical or sensible to set out the details of exactly how the Government will assess the final deal. When we bring forward the vote on the final deal, Parliament will be presented with the appropriate analysis to make an informed decision.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 01/11/2018 13:21:45 answering member 4051 label Biography information for John Glen
tabling member	151 label Biography information for Tom Brake

994492

registered interest
date	25/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts: Coventry
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent estimate his Department has made of the level of household debt in Coventry; and if he will make a statement.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	183857
answer	answer is ministerial correction date of answer 30/10/2018 answer text <p>The Office for National Statistics (ONS) produce estimates of the level of household debt in the UK.</p><p> </p><p>The latest available regional data, covering the period 2012 to 2014, shows median household financial debt in the West Midlands is the lowest of any English region. In the UK as a whole, household debt-to-income was 140% in Q2 2018. This remains significantly below the pre-crisis peak of 160% in Q1 2008. Debt interest payments as a share of income remain low by historical standards and below pre-crisis levels. Household net financial wealth as a proportion of income remains close to record highs and above pre-crisis levels.</p><p> </p><p>The ONS does not produce estimates of the level of household debt in Coventry.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/10/2018 15:36:52 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

994586

registered interest
date	25/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Annuities
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to amend the trivial commutation and small pots rules to enable more people to access their annuities as a lump sum.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	183913
answer	answer is ministerial correction date of answer 31/10/2018 answer text <p>The small pots and trivial commutation rules are permissive sets of tax rules which pre-date the pension freedoms reforms introduced in 2015. The rules may allow an individual to access their pension as a lump sum if they are at least 55 years old, or retiring at an earlier age because of ill-health, and the value of the payment does not exceed £10,000 for small pots, or £30,000 for trivial commutation. The rules limit what arrangements can be accessed in this way.</p><p> </p><p>As the regulations are permissive, there is no obligation on providers to offer small pot lump sums to consumers. The Government has no plans at present to amend existing legislation to require insurers to commute annuities in payment.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 183914 question first answered 31/10/2018 10:39:56 answering member 4051 label Biography information for John Glen
tabling member	3928 label Biography information for Nick Smith

994587

registered interest
date	25/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Annuities
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 amending the trivial commutation and small pots rules to require insurers to commute annuities into lump sum payments for consumers; and if he will make a statement.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	183914
answer	answer is ministerial correction date of answer 31/10/2018 answer text <p>The small pots and trivial commutation rules are permissive sets of tax rules which pre-date the pension freedoms reforms introduced in 2015. The rules may allow an individual to access their pension as a lump sum if they are at least 55 years old, or retiring at an earlier age because of ill-health, and the value of the payment does not exceed £10,000 for small pots, or £30,000 for trivial commutation. The rules limit what arrangements can be accessed in this way.</p><p> </p><p>As the regulations are permissive, there is no obligation on providers to offer small pot lump sums to consumers. The Government has no plans at present to amend existing legislation to require insurers to commute annuities in payment.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 183913 question first answered 31/10/2018 10:39:56 answering member 4051 label Biography information for John Glen
tabling member	3928 label Biography information for Nick Smith

994153

registered interest
date	24/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Brexit
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will publish immediately and in full detail the cross-Whitehall Brexit analysis and the underlying models and assumptions supporting that analysis.
tabling member constituency	Wycombe
tabling member printed	Mr Steve Baker
uin	183423
answer	answer is ministerial correction date of answer 29/10/2018 answer text <p>The Government has confirmed that once we have agreed a deal with the EU, the Government will provide Parliament with the appropriate analysis of that deal ahead of the vote on the final deal.</p><p> </p><p>With negotiations ongoing, it would not be practical or sensible to set out the details of exactly how the Government will analyse the final deal.</p><p> </p><p>The Government will therefore not provide an ongoing commentary on internal analytical work.</p> answering member constituency Salisbury answering member printed John Glen question first answered 29/10/2018 13:05:22 answering member 4051 label Biography information for John Glen
tabling member	4064 label Biography information for Mr Steve Baker

994265

registered interest
date	24/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many breaches of the affordability checks by payday lenders have the Financial Conduct Authority recorded in the last financial year.
tabling member constituency	Brighton, Kemptown
tabling member printed	Lloyd Russell-Moyle
uin	183494
answer	answer is ministerial correction date of answer 29/10/2018 answer text <p>On 1 April 2014, regulation of the consumer credit market, including payday lenders, was transferred to the Financial Conduct Authority (FCA).</p><p> </p><p>We have passed the Honourable Gentleman’s question on to the FCA, who will reply directly by letter. A copy of the letter will be placed in the Library of the House.</p> answering member constituency Salisbury answering member printed John Glen question first answered 29/10/2018 13:06:43 answering member 4051 label Biography information for John Glen
tabling member	4615 label Biography information for Lloyd Russell-Moyle

992634

registered interest
date	22/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Fraud
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 address banking fraud; and what assessment his Department has made of the effectiveness of those steps.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	182091
answer	answer is ministerial correction date of answer 25/10/2018 answer text <p>The Government takes fraud very seriously and is determined to make it more difficult for fraudsters to operate.</p><p> </p><p>The independent financial services regulator – the Financial Conduct Authority (FCA) – requires banks to maintain effective systems and controls to prevent the risk that they might be used to further financial crime. This includes controls to prevent fraud. Under the Money Laundering Regulations firms must carry out customer due diligence measures to identify customers and check that they are who they say they are. If the FCA found evidence that a regulated firm did not undertake appropriate due diligence checks, that firm would be in breach of the Money Laundering Regulations and the FCA could consider what regulatory tools might be appropriate under such circumstances.</p><p> </p><p>The Government also supports the work that the Payment Systems Regulator (PSR) is driving forward, in conjunction with industry, consumer groups and other regulatory and Government bodies, to tackle Authorised Push Payment scams, in which individuals are tricked into sending money online. In April this year, the PSR established a Steering Group of financial institutions and consumer representatives to develop an industry code to help prevent these kinds of scams. In September, the Steering Group published the draft code for consultation and intends to finalise the code in early 2019.</p><p> </p><p>It is also important that victims of fraud are provided with adequate support, and that the public is equipped with the information they need to spot a scam and stand up to fraudsters. That’s why the Government has invested in a new IT system for Action Fraud, which is the UK’s national reporting point for fraud and cybercrime. This new system will deliver significant improvements, both for victims reporting fraud and cybercrimes, and for law enforcement in investigating these crimes.</p><p> </p><p>The banking industry has also taken important steps to prevent fraud, including through the Banking Protocol - a rapid response scheme through which branch staff can alert police and Trading Standards to suspected frauds taking place. The system is now operational in every police force area and in the first six months of this year prevented £14.6 million in fraud and led to 100 arrests.</p> answering member constituency Salisbury answering member printed John Glen question first answered 25/10/2018 15:34:50 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

992722

registered interest
date	22/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many personnel from each financial sector regulator for which he is responsible have been seconded and for what purpose to a financial regulator elsewhere in the EU.
tabling member constituency	Harwich and North Essex
tabling member printed	Sir Bernard Jenkin
uin	182073
answer	answer is ministerial correction date of answer 26/10/2018 answer text <p>The UK’s financial services regulators operate secondment programmes to financial services firms, regulatory bodies and institutions – including those in the EU and rest of the world - and do so for various reasons.</p><p> </p><p>The number of personnel seconded and the purpose for doing so is a matter for the independent regulators.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 26/10/2018 11:10:23 answering member 4051 label Biography information for John Glen
tabling member	40 label Biography information for Sir Bernard Jenkin

991150

registered interest
date	19/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when his Department most recently made representations to the Financial Conduct Authority on enforcing rules on affordability checks for payday loans; and when his Department next plans to make such representations.
tabling member constituency	Oxford West and Abingdon
tabling member printed	Layla Moran
uin	181597
answer	answer is ministerial correction date of answer 24/10/2018 answer text <p>The Regulation of consumer credit is a matter for the Financial Conduct Authority (FCA). The government has given the FCA strong powers to protect consumers and to take action against firms and individuals that do not meet its standards. In 2017, the FCA issued total fines of £229 million.</p><p> </p><p>FCA rules are based on the principle that money should only be lent to a consumer if they can afford to repay it. The rules set out what is expected of firms, and the sanctions if they lend irresponsibly</p><p> </p><p>Treasury ministers and officials meet regularly with the FCA, and the government will continue to work closely with the FCA to ensure all customers are treated fairly.</p> answering member constituency Salisbury answering member printed John Glen question first answered 24/10/2018 16:09:00 answering member 4051 label Biography information for John Glen
tabling member	4656 label Biography information for Layla Moran

991173

registered interest
date	19/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Royal Bank of Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how much accrued to the public purse as a result of the Royal Bank of Scotland paying a dividend to shareholders on 12 October 2018.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	181558
answer	answer is ministerial correction date of answer 24/10/2018 answer text <p>The Government’s shareholding in the Royal Bank of Scotland (RBS) is managed at arm's length and on a commercial basis through UK Government Investments Ltd (UKGI), a company which is wholly owned by the government, with the objective of creating and protecting value for the taxpayer.</p><p> </p><p>In August 2018 RBS announced that it intended to resume the payment of dividends to ordinary shareholders, and that an interim dividend of 2 pence per ordinary share would be paid to shareholders.</p><p> </p><p>On 12 October 2018 the Government received a dividend of just over £150m. All money recovered from our shareholding in RBS will be used to pay down the national debt.</p> answering member constituency Salisbury answering member printed John Glen question first answered 24/10/2018 16:07:24 answering member 4051 label Biography information for John Glen
tabling member	1409 label Biography information for Mr Gregory Campbell