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1524610

registered interest
date	20/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Closures
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate he has made of the number of bank branches which have closed in (a) Lancashire and (b) England in each year since 2015.
tabling member constituency	Lancaster and Fleetwood
tabling member printed	Cat Smith
uin	67933
answer	answer is ministerial correction date of answer 25/10/2022 answer text <p>The way people bank in the UK continues to develop at pace, with more consumers and businesses than ever enjoying the convenience, security, and speed of digital banking. In 2021, 86% of UK adults used a form of remote banking, such as an app, online or on the phone. Banking customers have never had more choice in how they fit their banking into their everyday lives.</p><p> </p><p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. However, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions or make direct assessments of these branch networks.</p><p /><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches or free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</p><p> </p><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared bank hubs are also being piloted, providing basic banking services and dedicated space where community bankers from major banks can meet customers of that bank.</p><p> </p><p>As part of the Financial Services and Markets Bill 2022, the Government has introduced legislation to protect access to cash. The Bill protects access to cash by establishing the Financial Conduct Authority as the lead regulator and providing it with appropriate powers to ensure reasonable provision of withdrawal and deposit facilities.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 25/10/2022 13:35:17 answering member 4874 label Biography information for Andrew Griffith
tabling member	4436 label Biography information for Cat Smith

1524787

registered interest
date	20/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Laundering
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when his Department will publish its conclusions on the consultation on reforming the UK's Anti-Money Laundering Supervision system.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	67913
answer	answer is ministerial correction date of answer 25/10/2022 answer text <p>The government published a review of the UK’s anti-money laundering and counter terrorist financing (AML/CFT) regulatory and supervisory regime in June 2022. The review recognised that despite significant progress from the UK’s AML/CFT supervisors, there is still room for further improvement to strengthen the UK’s defences against economic crime.</p><p>The review also set out possible options for future reform. The Treasury will publish its conclusions following a formal consultation on the options under consideration, to ensure the risks and implications are fully understood.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 25/10/2022 07:04:11 answering member 4874 label Biography information for Andrew Griffith
tabling member	4253 label Biography information for Seema Malhotra

1524172

registered interest
date	19/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Incentives: Businesses
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he can provide a monthly breakdown of average weekly earnings of bonus pay across businesses in SIC 2007 section K, L, M, and N in each of the last four years.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	67159
answer	answer is ministerial correction date of answer 24/10/2022 answer text <p>This information is not available in the form requested. This is due to bonus payments not being separately identified in Pay As You Earn Real Time Information data. Therefore, HMRC is not able to provide figures for bonus pay.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 24/10/2022 13:07:20 answering member 4874 label Biography information for Andrew Griffith
tabling member	4591 label Biography information for Sarah Olney

1524315

registered interest
date	19/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	First Time Buyers
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 adequacy of the support available for people saving to buy a house; and if he will reconsider the limits placed on help to buy ISAs.
tabling member constituency	Newcastle-under-Lyme
tabling member printed	Aaron Bell
uin	67256
answer	answer is ministerial correction date of answer 25/10/2022 answer text <p>The Help to Buy: ISA scheme aims to help those who are struggling to save enough to get onto the housing ladder. As first-time buyers tend to buy smaller (and therefore cheaper) first properties, the scheme’s property price cap of £250,000 for properties outside London (£450,000 within London) allows the Government to target support more precisely at the people the scheme is intended to help. Since its launch in 2015, the scheme has supported 497,940 property completions across the UK, with a mean property value of £176,125 compared with an average first-time buyer house price of £231,704.</p><p> </p><p>While the Government keeps all aspects of savings policy under review, Help to Buy: ISA account holders can transfer their funds to a Lifetime ISA without incurring any penalties. The Lifetime ISA allows first-time buyers to benefit from the Government bonus when purchasing properties up to £450,000 anywhere in the UK.</p><p> </p><p>Further information on the Lifetime ISA together with a comprehensive list other forms of home purchase support schemes can be found on the Government’s website below:</p><p> </p><p><a href="https://www.ownyourhome.gov.uk/" target="_blank">https://www.ownyourhome.gov.uk/</a></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 25/10/2022 13:36:45 answering member 4874 label Biography information for Andrew Griffith
tabling member	4837 label Biography information for Aaron Bell

1523440

registered interest
date	18/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Advisory Council: Public Appointments
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, for what reason he has not included representatives of (a) housing charities, (b) debt charities and (c) trade unions on his new Economic Advisory Panel.
tabling member constituency	Birkenhead
tabling member printed	Mick Whitley
uin	66020
answer	answer is ministerial correction date of answer 24/10/2022 answer text <p>On 17<sup>th</sup> October, the Chancellor announced that he would establish an Economic Advisory Council. This will act as a consultative forum for the government to be advised on UK and international economics and financial markets. The Council will consist of leading and respected economists.</p><p> </p><p>The Chancellor has announced the initial members to form the council, with further members to be added in due course. All members have been chosen for their personal knowledge and expertise, as relevant to advising the government on the UK economy. Members can be added or removed at the Chancellor’s discretion.</p><p> </p><p>The Council members, alongside the role and purpose of the Council, will be reviewed after six months.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 24/10/2022 13:47:29 answering member 4874 label Biography information for Andrew Griffith
tabling member	4755 label Biography information for Mick Whitley

1523571

registered interest
date	18/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Private Rented Housing
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what proportion of all mortgages were buy-to-let in each region of the UK in the most recent period for which date is available; and what assessment his Department has made of the potential impact of buy-to-let purchases on the availability of properties for first-time buyers.
tabling member constituency	Birmingham, Hodge Hill
tabling member printed	Liam Byrne
uin	65634
answer	answer is ministerial correction date of answer 24/10/2022 answer text <p>In Q2 this year, 13.6% of new advances were buy-to-let mortgages.</p><p> </p><p>Whilst the Government wants to support those who aspire to be homeowners, we appreciate that this is not everyone’s aspiration and that there are many people for whom renting a home is either more practical or affordable. There therefore needs to be a thriving private rental sector to accommodate these people’s housing needs.</p><p> </p><p>However, the Government is aware that the growth of the buy-to-let sector can impact other people’s ability to get on the property ladder. This is why higher rates of Stamp Duty Land Tax were introduced in 2016 for the purchases of additional residential properties. The Government has also restricted the amount of income tax relief that landlords can claim on property finance costs to the basic rate of tax.</p><p> </p><p>The Government remains committed to helping as many first-time buyers as possible to get on the housing ladder, and operates a range of schemes that aim to increase the supply of low-deposit mortgages, increase the availability of new housing, and stimulate economic growth. These include First Homes, Shared Ownership through the Affordable Homes Programme, and the Mortgage Guarantee Scheme. The Government also helps first-time buyers to save for a deposit through the Lifetime ISA and Help to Buy: ISA. Over 800,000 households have been helped to purchase a home since spring 2010 through these Government-backed schemes, with the annual number of first-time buyers at a 20-year high in 2021.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 24/10/2022 13:49:09 answering member 4874 label Biography information for Andrew Griffith
tabling member	1171 label Biography information for Liam Byrne

1523591

registered interest
date	18/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Advisory Council: Trade Unions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he will appoint representatives of trade unions to the Economic Advisory Council.
tabling member constituency	Bradford East
tabling member printed	Imran Hussain
uin	65820
answer	answer is ministerial correction date of answer 21/10/2022 answer text <p>On 17<sup>th</sup> October, the Chancellor announced that he would establish an Economic Advisory Council. This will act as a consultative forum for the government to be advised on UK and international economics and financial markets. The Council will consist of leading and respected economists.</p><p> </p><p>The Chancellor has announced the initial members to form the council, with further members to be added in due course. All members have been chosen for their personal knowledge and expertise, as relevant to advising the government on the UK economy. Members can be added or removed at the Chancellor’s discretion.</p><p> </p><p>The Council members, alongside the role and purpose of the Council, will be reviewed after six months.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 21/10/2022 14:04:16 answering member 4874 label Biography information for Andrew Griffith
tabling member	4394 label Biography information for Imran Hussain

1522737

registered interest
date	17/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he is taking steps to help ensure companies do not charge consumers excessive fees for withdrawing cash at ATMs.
tabling member constituency	Upper Bann
tabling member printed	Carla Lockhart
uin	64385
answer	answer is ministerial correction date of answer 25/10/2022 answer text <p>Arrangements for cash machines are commercial decisions for the operators of ATMs and ATM networks.</p><p> </p><p>LINK (the scheme that runs the UK's largest ATM network) has commitments to protect the broad geographic spread of free-to-use ATMs and is held to account against these commitments by the Payment Systems Regulator. LINK has committed to protect free-to-use ATMs more than one kilometre away from the next nearest free ATM or Post Office, and free access to cash on high streets (where there is a cluster of five or more retailers) that do not have a free-to-use ATM or a Post Office counter within one kilometre.</p><p> </p><p>In recognition that cash continues to be used by millions of people across the UK the Government has introduced legislation to protect access to cash as part of the Financial Services and Markets Bill. The legislation will establish the Financial Conduct Authority as the lead regulator for access to cash with responsibility and powers to ensure that people can continue to access cash withdrawal and deposit facilities. These powers will allow the FCA to take account of factors it considers appropriate for seeking to ensure there is reasonable provision of cash access services, this could include factors such as cost for end users.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 25/10/2022 13:33:44 answering member 4874 label Biography information for Andrew Griffith
tabling member	4857 label Biography information for Carla Lockhart

1523089

registered interest
date	17/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Foreign Loans: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the impact on LICs of rising interest rates on foreign loans.
tabling member constituency	Birmingham, Edgbaston
tabling member printed	Preet Kaur Gill
uin	64259
answer	answer is ministerial correction date of answer 25/10/2022 answer text <p>The recent IMF World Economic Outlook underlined the difficulties that tightening financial conditions pose for low-income countries. In this environment, it is essential that countries take on new debt responsibly and that lenders provide credit on terms that promote sustainability. The UK is a signatory to the OECD Sustainable Lending Principles, which help ensure this.</p><p> </p><p>We monitor the risks posed by global interest rates and are fully committed to working with our international partners to help the most vulnerable countries address the challenges they face.</p><p> </p><p>For example, it is a UK priority to ensure the swift implementation of the Common Framework, which was agreed to help deliver a long-term, sustainable approach for supporting low-income countries to tackle their debt vulnerabilities.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 25/10/2022 13:29:19 answering member 4874 label Biography information for Andrew Griffith
tabling member	4603 label Biography information for Preet Kaur Gill

1523185

registered interest
date	17/10/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Closures
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with Cabinet Colleagues on reducing the number of bank branch closures.
tabling member constituency	Birmingham, Edgbaston
tabling member printed	Preet Kaur Gill
uin	64265
answer	answer is ministerial correction date of answer 25/10/2022 answer text The Chancellor meets with his Cabinet colleagues on a regular basis, to discuss a variety of issues. The way people bank in the UK continues to develop at pace, with more consumers and businesses than ever enjoying the convenience, security, and speed of digital banking. In 2021, 86% of UK adults used a form of remote banking, such as an app, online or on the phone. Banking customers have never had more choice in how they fit their banking into their everyday lives.<p> </p><p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. However, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions or make direct assessments of these branch networks.</p><p /><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches or free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.  The guidance has recently been strengthened to enhance protections for consumers that rely on branch services.</p><p> </p><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.</p><p> </p><p>As part of the Financial Services and Markets Bill 2022, the Government has introduced legislation to protect access to cash. The Bill protects access to cash by establishing the Financial Conduct Authority as the lead regulator and providing it with appropriate powers to ensure reasonable provision of withdrawal and deposit facilities.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 64266 question first answered 25/10/2022 13:31:14 answering member 4874 label Biography information for Andrew Griffith
tabling member	4603 label Biography information for Preet Kaur Gill