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1260409

registered interest
date	10/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Premium Bonds: Cheques
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 effect of the decision to discontinue sending paper prize warrants to winners of Premium Bonds prizes on the proportion of Premium Bond prize entitlements which are not paid out.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	128252
answer	answer is ministerial correction date of answer 15/12/2020 answer text <p>The statistics show that paying prizes directly to the customers bank account has reduced the proportion of Premium Bonds prizes that go unclaimed compared to issuing warrants (cheques).</p><p> </p><p>Since 2011, Premium Bonds holders have been able to have their prizes paid directly into a UK bank account in their name. Between 2011 and end of June 2018, NS&amp;I paid out 110,300,054 prizes by warrant. Of these 569,461 (0.5%) have not yet been cashed and are therefore deemed unclaimed. In comparison between 2011 and December 2020, NS&amp;I have paid out 72,385,607 directly to customers’ bank account. As of September 2020, of these 8,610 (0.01%) of the prizes have not been claimed.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 15/12/2020 14:21:06 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1260410

registered interest
date	10/12/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Savings and Investments: Cheques
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will place in the Library the NS&I policy on sending paper prize warrants to its customers.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	128253
answer	answer is ministerial correction date of answer 15/12/2020 answer text <p>Since 2011, Premium Bonds holders have been able to have their prizes paid directly into a UK bank account in their name. Since March 2020, <del class="ministerial">nearly half a million</del> <ins class="ministerial">more than 750,000 </ins>customers have switched from receiving paper warrants (cheques) to having their prizes paid directly into their bank account or automatically reinvested. As of December 2020, 82.5% of Premium Bonds prizes were either paid directly into a UK bank account or reinvested back into Premium Bonds.</p><p>The decision by NS&amp;I announced on 17 September 2020 to pay all Premium Bonds prizes direct to customers’ bank accounts was informed by changing customer behaviours. It will make managing Premium Bonds prize distribution quicker, more cost-effective and have a much lower environmental impact.</p><p>Paying prizes directly to the customers bank account also reduces the proportion of Premium Bonds prizes from going unclaimed.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/12/2020 14:19:06 question first ministerially corrected 04/01/2021 13:26:49 answering member 4051 label Biography information for John Glen previous answer version 69294 answering member constituency Salisbury answering member printed John Glen answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1258794

registered interest
date	07/12/2020
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, whether he plans to give businesses that borrowed under the Bounce Back Loan Scheme the option to repay their loan over a period of up to 10 years under the Pay as you Grow scheme.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	126119
answer	answer is ministerial correction date of answer 10/12/2020 answer text <p>The Government has introduced the ‘Pay as you Grow’ options to give businesses more time and flexibility to repay their loan on the terms that best suit them. This includes the ability to extend the term of the loan from 6 to 10 years (reducing average monthly payments by almost half), as well as the option to temporarily switch to interest-only payments or to take a full repayment holiday for 6 months.</p><p> </p><p>These are standardised options which can be offered by lenders to all businesses. The options can be requested by borrowers ahead of their first repayment or later in the life of the loan. This will enable businesses to repay the loan on the terms which work best for their individual circumstances.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/12/2020 13:15:02 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1250448

registered interest
date	10/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pension Funds: Government Securities
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment the Government has made of the effect of switching from RPI to CPIH in 2025 on pension funds’ holdings of index-linked government bonds.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	113629
answer	answer is ministerial correction date of answer 16/11/2020 answer text <p>The Retail Prices Index (RPI) is a measure of inflation with a number of shortcomings. To address these shortcomings, the UK Statistics Authority (UKSA) has made a proposal to reform RPI by bringing the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI. Owing to the use of RPI in specific index-linked gilts, prior to 2030 the Chancellor’s consent to this proposal is required before it can be implemented.</p><p> </p><p>At the Budget in March, the government and UKSA launched a consultation to consider whether UKSA’s proposal should be implemented at a date other than 2030, and, if so, when between 2025 and 2030. The consultation closed for responses on 21 August. As part of the consultation, the government invited views on matters including how the holders of the government’s issues of index-linked gilts, all of which use RPI as their reference rate, will be affected by the implementation of reform.</p><p> </p><p>The consultation can be found at the following link: <a href="https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology" target="_blank">https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology</a>.</p><p> </p><p>As announced on 9 November, the government and UKSA will respond to the consultation alongside the Spending Review on 25 November.</p><p> </p><p>The 9 November announcement can be found at the following link: <a href="https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re" target="_blank">https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re</a>.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/11/2020 12:44:19 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1250450

registered interest
date	10/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pension Funds: Government Securities
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment the Government has made of the effect of switching from RPI to CPIH in 2030 on pension funds’ holdings of index-linked government bonds.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	113630
answer	answer is ministerial correction date of answer 16/11/2020 answer text <p>The Retail Prices Index (RPI) is a measure of inflation with a number of shortcomings. To address these shortcomings, the UK Statistics Authority (UKSA) has made a proposal to reform RPI by bringing the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI. Owing to the use of RPI in specific index-linked gilts, prior to 2030 the Chancellor’s consent to this proposal is required before it can be implemented.</p><p> </p><p>At the Budget in March, the government and UKSA launched a consultation to consider whether UKSA’s proposal should be implemented at a date other than 2030, and, if so, when between 2025 and 2030. The consultation closed for responses on 21 August. As part of the consultation, the government invited views on matters including how the holders of the government’s issues of index-linked gilts, all of which use RPI as their reference rate, will be affected by the implementation of reform.</p><p> </p><p>The consultation can be found at the following link: <a href="https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology" target="_blank">https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology</a>.</p><p> </p><p>As announced on 9 November, the government and UKSA will respond to the consultation alongside the Spending Review on 25 November.</p><p> </p><p>The 9 November announcement can be found at the following link: <a href="https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re" target="_blank">https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re</a>.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/11/2020 12:46:02 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1250451

registered interest
date	10/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pension Funds: Government Securities
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate the Government has made of the potential cost of compensating pension funds for losses arising from index-linked government bonds as the result of switching from RPI to CPIH.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	113631
answer	answer is ministerial correction date of answer 16/11/2020 answer text <p>The Retail Prices Index (RPI) is a measure of inflation with a number of shortcomings. To address these shortcomings, the UK Statistics Authority (UKSA) has made a proposal to reform RPI by bringing the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI. Owing to the use of RPI in specific index-linked gilts, prior to 2030 the Chancellor’s consent to this proposal is required before it can be implemented.</p><p> </p><p>At the Budget in March, the government and UKSA launched a consultation to consider whether UKSA’s proposal should be implemented at a date other than 2030, and, if so, when between 2025 and 2030. The consultation closed for responses on 21 August. As part of the consultation, the government invited views on matters including how the holders of the government’s issues of index-linked gilts, all of which use RPI as their reference rate, will be affected by the implementation of reform.</p><p> </p><p>The consultation can be found at the following link: <a href="https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology" target="_blank">https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology</a>.</p><p> </p><p>As announced on 9 November, the government and UKSA will respond to the consultation alongside the Spending Review on 25 November.</p><p> </p><p>The 9 November announcement can be found at the following link: <a href="https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re" target="_blank">https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re</a>.</p> answering member constituency Salisbury answering member printed John Glen question first answered 16/11/2020 12:40:08 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1250452

registered interest
date	10/11/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Government Securities: Index Linking
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the Government has made an assessment of the potential merits of continuing with an RPI-like measure until such time as index-linked Government bonds based on RPI have matured.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	113632
answer	answer is ministerial correction date of answer 16/11/2020 answer text <p>The Retail Prices Index (RPI) is a measure of inflation with a number of shortcomings. To address these shortcomings, the UK Statistics Authority (UKSA) has made a proposal to reform RPI by bringing the methods and data sources of the Consumer Prices Index including owner occupiers’ housing costs (CPIH) into RPI. Owing to the use of RPI in specific index-linked gilts, prior to 2030 the Chancellor’s consent to this proposal is required before it can be implemented.</p><p> </p><p>At the Budget in March, the government and UKSA launched a consultation to consider whether UKSA’s proposal should be implemented at a date other than 2030, and, if so, when between 2025 and 2030. The consultation closed for responses on 21 August. As part of the consultation, the government invited views on matters including how the holders of the government’s issues of index-linked gilts, all of which use RPI as their reference rate, will be affected by the implementation of reform.</p><p> </p><p>The consultation can be found at the following link: <a href="https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology" target="_blank">https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology</a>.</p><p> </p><p>As announced on 9 November, the government and UKSA will respond to the consultation alongside the Spending Review on 25 November.</p><p> </p><p>The 9 November announcement can be found at the following link: <a href="https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re" target="_blank">https://www.gov.uk/government/publications/a-letter-from-rishi-sunak-to-sir-david-norgrove-on-the-date-of-the-government-and-uk-statistics-authoritys-response-to-their-joint-consultation-on-re</a>.</p><p> </p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 16/11/2020 12:47:48 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1174241

registered interest
date	29/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the oral contribution of the Economic Secretary to the Treasury, of 13 March 2019, Official Report, column 179WH, when the Government plans to lay the draft regulations that will ensure that investments held in Child Trust Fund accounts will retain their tax-free status after maturity.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	9773
answer	answer is ministerial correction date of answer 03/02/2020 answer text <p>The Child Trust Funds (Amendment) Regulations 2020 (SI2020/29) were laid on 15 January 2020 - <a href="http://www.legislation.gov.uk/uksi/2020/29/contents/made" target="_blank">www.legislation.gov.uk/uksi/2020/29/contents/made</a></p><p> </p><p>Child Trust Funds (CTF) accounts will start to mature in September 2020 when the first children reach 18. These regulations ensure maturing CTF will retain their tax-free status and also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p><p> </p><p>HMRC has improved the National Insurance number notification letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Funds scheme. The letter informs young people that they may have money in a Child Trust Fund and signposts them to HMRC’s guidance on accessing and managing the account.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 9774 question first answered 03/02/2020 13:01:58 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1174242

registered interest
date	29/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the oral contribution of the Economic Secretary to the Treasury, of 13 March 2019, Official Report, column 177WH, whether any changes have been made to the letter that his sent to young people informing them of their national insurance number when they reach 16 years old.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	9774
answer	answer is ministerial correction date of answer 03/02/2020 answer text <p>The Child Trust Funds (Amendment) Regulations 2020 (SI2020/29) were laid on 15 January 2020 - <a href="http://www.legislation.gov.uk/uksi/2020/29/contents/made" target="_blank">www.legislation.gov.uk/uksi/2020/29/contents/made</a></p><p> </p><p>Child Trust Funds (CTF) accounts will start to mature in September 2020 when the first children reach 18. These regulations ensure maturing CTF will retain their tax-free status and also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p><p> </p><p>HMRC has improved the National Insurance number notification letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Funds scheme. The letter informs young people that they may have money in a Child Trust Fund and signposts them to HMRC’s guidance on accessing and managing the account.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 9773 question first answered 03/02/2020 13:01:58 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds

1135335

registered interest
date	27/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Crime
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to Answer of 27 June 2019 to Question 268541 on Economic Crime Strategic Board, whether the Economic Crime Plan will be published before the House rises on 25 July 2019.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	270445
answer	answer is ministerial correction date of answer 02/07/2019 answer text <p>The Economic Crime Strategic Board will meet on 10 July 2019 at which it will discuss the draft Economic Crime Plan and a public-private economic crime threat update. The Economic Crime Plan will be published after it has been approved by the Board.</p> answering member constituency Salisbury answering member printed John Glen question first answered 02/07/2019 14:18:35 answering member 4051 label Biography information for John Glen
tabling member	4657 label Biography information for Anneliese Dodds