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89489

registered interest
date	29/08/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Credit: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate his Department has made of (a) the number of payday firms that will be in operation and (b) the projected consumer demand for payday loans in (i) 2015, (ii) 2016 and (iii) 2017.
tabling member constituency	Wythenshawe and Sale East
tabling member printed	Mike Kane
uin	207342
answer	answer is ministerial correction date of answer 05/09/2014 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market. Responsibility for consumer credit regulation transferred from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014.</p><p> </p><p>In the FCA’s consultation paper on the cap on the cost of payday loans, the FCA assesses that its proposals will lead to a risk of contraction in both the online and high-street markets. FCA modelling suggests that its cap proposals would mean at least one high street firm would continue to offer payday loans and at least the three largest online firms continuing in the market, although the FCA expects that more firms will be able to adapt their businesses to operate under the price cap and remain in the market.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 05/09/2014 13:16:20 answering member 4117 label Biography information for Andrea Leadsom
tabling member	4316 label Biography information for Mike Kane

89496

registered interest
date	29/08/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Credit: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what analysis his Department has made of the performance of credit caps on payday lending firms in operation in (a) the USA, (b) Canada and (c) Australia.
tabling member constituency	Wythenshawe and Sale East
tabling member printed	Mike Kane
uin	207343
answer	answer is ministerial correction date of answer 05/09/2014 answer text <p>The Government legislated to require the FCA to introduce a cap on the cost of payday loans, to protect consumers from unfair costs.</p><p> </p><p> </p><p>In making this decision the government considered the international evidence in support of a cap. As part of its work to design a cap to meet the needs of UK consumers, the FCA took into account international comparators conducting detailed case studies on experiences of price cap setting in Australia, Canada, US, Finland and Japan. The FCA spoke to international regulators and experts to understand the rationale and designs of price caps, as well as the impact they had on consumers and industry in these countries.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 05/09/2014 13:11:35 answering member 4117 label Biography information for Andrea Leadsom
tabling member	4316 label Biography information for Mike Kane

89499

registered interest
date	29/08/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Insurance
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, on how many occasions he has met representatives of the insurance industry in the last 12 months; and what was discussed at those meetings.
tabling member constituency	South Down
tabling member printed	Ms Margaret Ritchie
uin	207150
answer	answer is ministerial correction date of answer 04/09/2014 answer text <p>Treasury Ministers and officials routinely meet with a wide range of stakeholders as part of the process of policy development.</p><p> </p><p>Details of ministerial and Permanent Secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:</p><p> </p><p>https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 04/09/2014 13:57:17 answering member 4117 label Biography information for Andrea Leadsom
tabling member	4130 label Biography information for Baroness Ritchie of Downpatrick

89992

registered interest
date	26/08/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Banks: Pay
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent representations he has made to institutions of the EU on the cap on bank bonuses.
tabling member constituency	Wirral South
tabling member printed	Alison McGovern
uin	905051
answer	answer is ministerial correction date of answer 02/09/2014 answer text <p>I refer the hon. Member to the Answer I gave today to the hon. Member for Blaenau Gwent (Nick Smith).</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 02/09/2014 14:43:33 answering member 4117 label Biography information for Andrea Leadsom
tabling member	4083 label Biography information for Alison McGovern

79304

registered interest
date	22/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Fossil Fuels
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will request the Financial Policy Committee (FPC) of the Bank of England to provide them with their most recent assessment of risks to UK financial stability arising from investment in high-carbon assets; and if he will place in the Library that request and the FPC response.
tabling member constituency	Brighton, Pavilion
tabling member printed	Caroline Lucas
uin	207056
answer	answer is ministerial correction date of answer 02/09/2014 answer text <p>On the 8<sup>th</sup> July 2014, Mark Carney, the Governor of the Bank of England, sent a letter to the Environmental Audit Committee (EAC). In the letter he stated that the FPC’s current assessment of the risks to financial stability were set out in the latest Financial Stability Report which was published on the 26<sup>th</sup> June 2014. That assessment showed that the FPC did not consider investment in high-carbon assets to be a material risk to financial stability at that time. However, Governor Carney did reassure the EAC that the FPC will continue to monitor a range of threats in its regular risk assessment, and will seek to discuss with the Committee on Climate Change if its assessment of risk associated with a carbon bubble changes.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 02/09/2014 16:37:12 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3930 label Biography information for Caroline Lucas

79003

registered interest
date	21/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Buildings
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will review his departmental estate in order to reduce costs; and if he will make a statement.
tabling member constituency	Brighton, Kemptown
tabling member printed	Simon Kirby
uin	206696
answer	answer is ministerial correction date of answer 01/09/2014 answer text <p>HM Treasury occupies a small estate the core of which is the building at 1 Horse Guards Road. Space rationalisation since May 2010 in this building has allowed the Cabinet Office, the Northern Ireland Office, the Office of Parliamentary Counsel and UK Export Finance to be accommodated, generating £12m pa in rental income. In line with business planning HM Treasury regularly reviews its accommodation needs.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 01/09/2014 16:11:35 answering member 4117 label Biography information for Andrea Leadsom
tabling member	3929 label Biography information for Simon Kirby

79008

registered interest
date	21/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Mortgages: Government Assistance
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether the Government plans to provide help for mortgage holders in the event of an increase in interest rates.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	206796
answer	answer is ministerial correction date of answer 01/09/2014 answer text <p>The Government has taken a number of measures aimed at helping people to avoid mortgage repayment difficulties. The Money Advice Service has been set up by Government to promote understanding of the financial system and raise levels of financial capability across the UK. The Support for Mortgage Interest scheme helps pensioners and those out of work to meet their mortgage payments. Furthermore, all borrowers can seek protection in the Courts using the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 01/09/2014 16:22:52 answering member 4117 label Biography information for Andrea Leadsom
tabling member	4131 label Biography information for Jim Shannon

78881

registered interest
date	18/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	EU Law
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many times the UK has lost EU infraction proceedings since May 2010 which relate to matters that fall within his Department's responsibility.
tabling member constituency	Wokingham
tabling member printed	Mr John Redwood
uin	206663
answer	answer is ministerial correction date of answer 18/08/2014 answer text <p>Since May 2010 the UK has not lost any EU infraction proceedings falling within the responsibility of HM Treasury. The UK has never been fined for an infraction.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 18/08/2014 09:51:30 answering member 4117 label Biography information for Andrea Leadsom
tabling member	14 label Biography information for Sir John Redwood

78658

registered interest
date	17/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Credit: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to address concerns that payday loan companies are exploiting vulnerable people.
tabling member constituency	Belfast North
tabling member printed	Mr Nigel Dodds
uin	206553
answer	answer is ministerial correction date of answer 18/08/2014 answer text <p>The Government has fundamentally reformed regulation of the payday market, transferring regulatory responsibility for consumer credit regulation from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) from 1 April 2014. The FCA has a statutory objective to protect consumers.</p><p> </p><p>It is important that consumers are protected from unfair costs. The Government has therefore legislated to require the FCA to introduce a cap on the cost of payday loans, and the FCA is currently consulting on its cap proposals.</p><p> </p><p>The Government also strongly welcomes the FCA’s new rules for regulating payday lending, including action on rollovers and continuous payment authorities (CPAs). Payday lenders are also required to adhere to the FCA’s high level principles of business, including that of ‘treating customers fairly’.</p><p> </p><p> </p><p>The FCA has also introduced affordability rules to strengthen consumer protection, based on the principle that money should only be lent to a consumer if they can afford it.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 18/08/2014 09:50:24 answering member 4117 label Biography information for Andrea Leadsom
tabling member	1388 label Biography information for Lord Dodds of Duncairn

78660

registered interest
date	17/07/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Business: Bank Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps the Government has taken to promote competition in the market for business banking; and what the effect of those steps has been.
tabling member constituency	North Swindon
tabling member printed	Justin Tomlinson
uin	206494
answer	answer is ministerial correction date of answer 23/07/2014 answer text <p>Budget 2014 set out details of the action Government has taken to support competition in banking and access to finance for businesses, and also detailed a package of new measures to build on these reforms.</p><p> </p><p>This included: confirmation that the Government will legislate to require banks to share more information on their smaller business customers with other lenders through credit reference agencies, levelling the playing field for challenger and non-bank lenders; and consulting on whether to legislate to require SME lenders to release details on businesses that they reject for finance so these business can be linked up alternative finance providers.</p><p> </p><p>The Government has also commissioned a major new biannual survey which allows for a public ranking of UK banks based on the services and products they provide to SMEs, the first set of results of which were published in May, and an independently reviewed Appeals Process is ensuring that SMEs declined for finance can appeal that decision.</p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 23/07/2014 08:38:46 answering member 4117 label Biography information for Andrea Leadsom
tabling member	4105 label Biography information for Justin Tomlinson