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1657306

registered interest
date	01/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	What recent assessment he has made of the potential impact of the Growth Plan of 23 September 2022 on mortgage rates.
tabling member constituency	Putney
tabling member printed	Fleur Anderson
uin	197262
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>Over the course of 2022 high inflation from Putin’s illegal invasion of Ukraine saw interest rates increase across most Western Economies.</p><p> </p><p>This is why the Prime Minister made halving inflation one of the Government’s five priorities this year. The latest Bank of England forecast shows we are on track to halve by the end of the year.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 06/09/2023 14:45:09 answering member 4874 label Biography information for Andrew Griffith
tabling member	4788 label Biography information for Fleur Anderson

1654627

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when his Department plans to publish the outcome of the consultation entitled Regulation of Buy-Now Pay Later: consultation on draft legislation.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	195335
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The Government’s consultation on proposed draft legislation to bring Buy-Now Pay-Later into regulation closed in April. The Government has been carefully considering stakeholder feedback to this consultation and intends to publish a consultation response in which it will set out next steps, in due course.</p><p> </p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 195336 question first answered 06/09/2023 15:35:58 answering member 4874 label Biography information for Andrew Griffith
tabling member	491 label Biography information for Dame Angela Eagle

1654628

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Regulation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when his Department plans to lay before Parliament legislative proposals relating to the consultation entitled Regulation of Buy-Now Pay Later: consultation on draft legislation.
tabling member constituency	Wallasey
tabling member printed	Dame Angela Eagle
uin	195336
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The Government’s consultation on proposed draft legislation to bring Buy-Now Pay-Later into regulation closed in April. The Government has been carefully considering stakeholder feedback to this consultation and intends to publish a consultation response in which it will set out next steps, in due course.</p><p> </p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 195335 question first answered 06/09/2023 15:35:58 answering member 4874 label Biography information for Andrew Griffith
tabling member	491 label Biography information for Dame Angela Eagle

1654638

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Premium Bonds
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has considered the potential merits of increasing the premium bond investment ceiling.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	195346
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The Government keeps the Premium Bond investment limit under review, to ensure that the limit continues to reflect the interests of savers, taxpayers, and the wider financial sector.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 06/09/2023 15:39:15 answering member 4874 label Biography information for Andrew Griffith
tabling member	1447 label Biography information for Andrew Rosindell

1654639

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
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 help support homeowners who are unable to make mortgage payments following increases in interest rates in the last 12 months.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	195347
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The pricing of mortgages is a commercial decision for lenders in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers.</p><p> </p><p>On Friday 23 June the Chancellor met with the UK’s largest mortgage lenders, UK Finance and the Financial Conduct Authority to discuss how lenders will provide support for those who encounter problems keeping up with their mortgage payments. At this meeting, lenders agreed to a new Mortgage Charter to support borrowers struggling with their mortgage payments that was published on 26 June. The Charter sets out the standards signatory lenders will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period.</p><p> </p><p>The Charter is in addition to the significant safeguards already in place for consumers in the mortgage market. Financial Conduct Authority rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. The Government has also taken measures aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans, and protection in the courts through the Pre-Action Protocol.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 06/09/2023 15:37:45 answering member 4874 label Biography information for Andrew Griffith
tabling member	1447 label Biography information for Andrew Rosindell

1654906

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what support is available to homeowners who have accrued unmanageable debt due to increased mortgage interest rates.
tabling member constituency	Barnsley East
tabling member printed	Stephanie Peacock
uin	195552
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The pricing of mortgages is a commercial decision for lenders, including relevant credit unions, in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers.</p><p> </p><p>On Friday 23 June the Chancellor met with the UK’s largest mortgage lenders, UK Finance and the Financial Conduct Authority to discuss how lenders will provide support for those who encounter problems keeping up with their mortgage payments. At this meeting, lenders agreed to a new Mortgage Charter to support borrowers struggling with their mortgage payments that was published on 26 June. The Charter sets out the standards signatory lenders, which includes some credit unions, will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period.</p><p> </p><p>The Charter is in addition to the significant safeguards already in place for consumers in the mortgage market. Financial Conduct Authority rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. The Government has also taken measures aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans, and protection in the courts through the Pre-Action Protocol.</p><p> </p><p>More widely, the Government is taking forward amendments to the Credit Unions Act 1979 through the Financial Services and Markets Act (FSMA) 2023 to allow the credit union sector to grow, by offering a wider range of products and services to their members. FSMA 2023 is central to delivering the Government’s vision to grow the economy and create an open, sustainable, and technologically advanced financial services sector.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 195553 question first answered 06/09/2023 15:30:28 answering member 4874 label Biography information for Andrew Griffith
tabling member	4607 label Biography information for Stephanie Peacock

1654907

registered interest
date	20/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Unions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to increased mortgage interest rates, what steps his Department is taking to promote credit unions.
tabling member constituency	Barnsley East
tabling member printed	Stephanie Peacock
uin	195553
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The pricing of mortgages is a commercial decision for lenders, including relevant credit unions, in which the Government does not intervene. However, we recognise this is a concerning time for mortgage borrowers.</p><p> </p><p>On Friday 23 June the Chancellor met with the UK’s largest mortgage lenders, UK Finance and the Financial Conduct Authority to discuss how lenders will provide support for those who encounter problems keeping up with their mortgage payments. At this meeting, lenders agreed to a new Mortgage Charter to support borrowers struggling with their mortgage payments that was published on 26 June. The Charter sets out the standards signatory lenders, which includes some credit unions, will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period.</p><p> </p><p>The Charter is in addition to the significant safeguards already in place for consumers in the mortgage market. Financial Conduct Authority rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support. The Government has also taken measures aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans, and protection in the courts through the Pre-Action Protocol.</p><p> </p><p>More widely, the Government is taking forward amendments to the Credit Unions Act 1979 through the Financial Services and Markets Act (FSMA) 2023 to allow the credit union sector to grow, by offering a wider range of products and services to their members. FSMA 2023 is central to delivering the Government’s vision to grow the economy and create an open, sustainable, and technologically advanced financial services sector.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 195552 question first answered 06/09/2023 15:30:28 answering member 4874 label Biography information for Andrew Griffith
tabling member	4607 label Biography information for Stephanie Peacock

1654247

registered interest
date	19/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Vetting
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has had discussions with representatives of banks on safeguards to allow people to open or have a bank account regardless of political, personal or moral beliefs.
tabling member constituency	South Holland and The Deepings
tabling member printed	Sir John Hayes
uin	194961
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The Government has been unequivocal in its view that contracts of payment account facilities should not be terminated on grounds relating to users’ lawful freedom of expression or political beliefs. The Government strongly supports this fundamental right afforded to all people in British society.</p><p> </p><p>On 21 July, the Treasury published its policy statement, setting out its plans to enhance requirements relating to payment account contract termination. These changes will extend the notice period for contract termination to 90 days (subject to limited exceptions), and mandate that providers give a clear and tailored reason for termination, unless to do so would be unlawful.</p><p> </p><p>Following the announcement, I met with the UK’s largest banks and building societies, whose representatives expressed their commitment to the principle of non-discrimination based on lawful freedom of expression, and to bringing their policies in line with the planned reforms where needed, as soon as possible.</p><p> </p><p>Additionally, I note that regulation 18 of the Payment Accounts Regulations 2015 already expressly prohibits credit institutions from discriminating against UK consumers by reason of their religion or belief, or political opinion, as they access payment accounts. The Government has made clear that it expects providers to abide by this legal requirement, and the FCA to use its powers as appropriate to ensure compliance with this requirement.</p><p> </p><p>Further to this, the Chancellor has written to the FCA to request an urgent review into the matter of ‘de-banking’. The FCA is currently undertaking this review and will share the evidence and its findings with the Treasury. This will help inform whether further action is necessary to ensure nobody is being unfairly denied banking facilities.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 195008 195013 question first answered 06/09/2023 15:27:02 answering member 4874 label Biography information for Andrew Griffith
tabling member	350 label Biography information for Sir John Hayes

1654388

registered interest
date	19/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Vetting
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 adequacy of legislative and regulatory safeguards for preventing financial institutions from (a) refusing to provide and (b) withdrawing services from people on the basis of their lawfully-held political, philosophical and religious beliefs.
tabling member constituency	Gravesham
tabling member printed	Adam Holloway
uin	195008
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The Government has been unequivocal in its view that contracts of payment account facilities should not be terminated on grounds relating to users’ lawful freedom of expression or political beliefs. The Government strongly supports this fundamental right afforded to all people in British society.</p><p> </p><p>On 21 July, the Treasury published its policy statement, setting out its plans to enhance requirements relating to payment account contract termination. These changes will extend the notice period for contract termination to 90 days (subject to limited exceptions), and mandate that providers give a clear and tailored reason for termination, unless to do so would be unlawful.</p><p> </p><p>Following the announcement, I met with the UK’s largest banks and building societies, whose representatives expressed their commitment to the principle of non-discrimination based on lawful freedom of expression, and to bringing their policies in line with the planned reforms where needed, as soon as possible.</p><p> </p><p>Additionally, I note that regulation 18 of the Payment Accounts Regulations 2015 already expressly prohibits credit institutions from discriminating against UK consumers by reason of their religion or belief, or political opinion, as they access payment accounts. The Government has made clear that it expects providers to abide by this legal requirement, and the FCA to use its powers as appropriate to ensure compliance with this requirement.</p><p> </p><p>Further to this, the Chancellor has written to the FCA to request an urgent review into the matter of ‘de-banking’. The FCA is currently undertaking this review and will share the evidence and its findings with the Treasury. This will help inform whether further action is necessary to ensure nobody is being unfairly denied banking facilities.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 194961 195013 question first answered 06/09/2023 15:27:02 answering member 4874 label Biography information for Andrew Griffith
tabling member	1522 label Biography information for Adam Holloway

1654395

registered interest
date	19/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Vetting
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department plans to include a review of the potential impact of contract termination by (a) banks and (b) other financial institutions on freedom of expression in its consultation on the Payment Services Regulations 2017.
tabling member constituency	Gravesham
tabling member printed	Adam Holloway
uin	195013
answer	answer is ministerial correction date of answer 06/09/2023 answer text <p>The Government has been unequivocal in its view that contracts of payment account facilities should not be terminated on grounds relating to users’ lawful freedom of expression or political beliefs. The Government strongly supports this fundamental right afforded to all people in British society.</p><p> </p><p>On 21 July, the Treasury published its policy statement, setting out its plans to enhance requirements relating to payment account contract termination. These changes will extend the notice period for contract termination to 90 days (subject to limited exceptions), and mandate that providers give a clear and tailored reason for termination, unless to do so would be unlawful.</p><p> </p><p>Following the announcement, I met with the UK’s largest banks and building societies, whose representatives expressed their commitment to the principle of non-discrimination based on lawful freedom of expression, and to bringing their policies in line with the planned reforms where needed, as soon as possible.</p><p> </p><p>Additionally, I note that regulation 18 of the Payment Accounts Regulations 2015 already expressly prohibits credit institutions from discriminating against UK consumers by reason of their religion or belief, or political opinion, as they access payment accounts. The Government has made clear that it expects providers to abide by this legal requirement, and the FCA to use its powers as appropriate to ensure compliance with this requirement.</p><p> </p><p>Further to this, the Chancellor has written to the FCA to request an urgent review into the matter of ‘de-banking’. The FCA is currently undertaking this review and will share the evidence and its findings with the Treasury. This will help inform whether further action is necessary to ensure nobody is being unfairly denied banking facilities.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 194961 195008 question first answered 06/09/2023 15:27:02 answering member 4874 label Biography information for Andrew Griffith
tabling member	1522 label Biography information for Adam Holloway