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1244829

registered interest
date	20/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Money Lenders: Coronavirus
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 prevent people made vulnerable as a result of the covid-19 outbreak from becoming victims of loan sharks.
tabling member constituency	Strangford
tabling member printed	Jim Shannon
uin	106346
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Government funds the Illegal Money Lending Teams (IMLTs) of England, Scotland, Wales and Northern Ireland to tackle illegal money lenders, or ‘loan sharks’, via a Financial Conduct Authority (FCA) levy on industry. The IMLTs also have powers to deal with wider criminality associated with loan sharks, such as violence and blackmail, and can seize the assets of convicted loan sharks to fund support for victims and raise awareness of the dangers of illegal lending in affected communities.</p><p> </p><p>The Government and IMLTs are alert to the particular challenges faced by vulnerable consumers as a result of COVID-19 and continue to work together to ensure that this dangerous and illegal activity is stopped.</p><p> </p><p>The Government also recognises that some people who are struggling with their finances at this challenging time may turn to loan sharks.</p><p> </p><p>That is one of the reasons why the Government has delivered unprecedented support for living standards, protecting livelihoods with the Self-Employment Income Support Scheme, the Coronavirus Job Retention Scheme, and temporary welfare measures amongst other support.</p><p> </p><p>To help people in problem debt get their finances back on track, an extra £37.8 million support package is being made available to debt advice providers this financial year, bringing this year’s budget for free debt advice in England to over £100 million.</p><p> </p><p>In May, the Government also announced the immediate release of £65 million dormant assets funding to Fair4All Finance, an independent organisation that has been founded to support the financial wellbeing of people in vulnerable circumstances. The funding is used to increase access to fair, affordable and appropriate financial products and services, including credit, for those in financial difficulties.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:16:28 answering member 4051 label Biography information for John Glen
tabling member	4131 label Biography information for Jim Shannon

1244872

registered interest
date	20/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Employee Ownership and Save as You Earn
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many people participated in (a) Save As You Earn (SAYE) schemes, (b) Share Investment Plans (SIPs) and (c) SAYE schemes and SIPs in the last three years for which data are available.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	106442
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Save As You Earn (SAYE) scheme and Share Incentive Plans (SIPs) are tax-advantaged employee share schemes offered by the Government.</p><p> </p><p>HMRC publishes annual statistics on participation in Employee Share Schemes which are available here: <a href="https://www.gov.uk/government/collections/employee-share-schemes-statistics#national-statistics" target="_blank">https://www.gov.uk/government/collections/employee-share-schemes-statistics#national-statistics</a></p><p> </p><p>Data from these statistics on participation in SAYE schemes and SIPs for the last three years for which data is available can be found in the tables below. HMRC collects data at the points at which employees enter or leave Employee Share Schemes which is reflected in the tables below. However, HMRC does not hold data on the number of people who hold options or shares within an Employee Share Scheme each year.</p><p> </p><p>For SAYE, data is provided on the number of employees who are granted and exercised options for each of the three years.</p><p> </p><p>For SIPs, data is provided on the number of employees who are awarded or purchase the four different types of shares available. Some employees may receive more than one type of share in a given year.</p><p> </p><p> </p><p>Table 1 - SAYE</p><p> </p><table><tbody><tr><td><p>SAYE</p></td><td><p>Employees granted share options</p></td><td><p>Employees exercising share options</p></td></tr><tr><td><p>16-17</p></td><td><p>400,000</p></td><td><p>140,000</p></td></tr><tr><td><p>17-18</p></td><td><p>340,000</p></td><td><p>120,000</p></td></tr><tr><td><p>18-19</p></td><td><p>310,000</p></td><td><p>110,000</p></td></tr></tbody></table><p> </p><p>Table 2 - SIP</p><p> </p><table><tbody><tr><td><p>SIP – employees awarded / purchased</p></td><td><p>Free shares</p></td><td><p>Partnership shares</p></td><td><p>Matching shares</p></td><td><p>Dividend shares</p></td></tr><tr><td><p>16-17</p></td><td><p>140,000</p></td><td><p>4,160,000</p></td><td><p>2,990,000</p></td><td><p>760,000</p></td></tr><tr><td><p>17-18</p></td><td><p>140,000</p></td><td><p>2,890,000</p></td><td><p>2,010,000</p></td><td><p>530,000</p></td></tr><tr><td><p>18-19</p></td><td><p>110,000</p></td><td><p>2,840,000</p></td><td><p>2,050,000</p></td><td><p>500,000</p></td></tr></tbody></table> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:07:36 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1245034

registered interest
date	20/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Weddings: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he has taken to ensure that businesses in the wedding industry can access suitable insurance for delays and cancellations resulting from the covid-19 outbreak.
tabling member constituency	Bolton South East
tabling member printed	Yasmin Qureshi
uin	106306
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Government is working closely with the insurers, the trade bodies and regulators to understand what more the industry can do to support firms as the economy reopens. We also continue to gather and monitor information on how different sectors, including the wedding industry, are being affected by the current crisis and the availability of cover.</p><p> </p><p>The Government would need to assess access to insurance alongside any other barriers to a sector re-opening, such as social distancing restrictions, when determining the appropriate course of action.</p><p> </p><p>Wedding operators are eligible for assistance through the wider Government support package if they are in financial difficulty. We continue to keep this package under close review.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:14:33 answering member 4051 label Biography information for John Glen
tabling member	3924 label Biography information for Yasmin Qureshi

1245041

registered interest
date	20/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to secure long-term access to cash to support (a) people on low incomes, (b) vulnerable people, (c) disadvantaged communities and (d) businesses in the UK unable to effectively operate without cash.
tabling member constituency	Coventry North East
tabling member printed	Colleen Fletcher
uin	106370
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Government recognises that cash remains important to millions of people and businesses across the UK, including those who may be on low incomes or vulnerable. That is why Government has committed to legislate to protect access to cash and to ensure that the UK’s cash infrastructure is sustainable in the long term. Government is working at pace, engaging with industry and the regulators – the Financial Conduct Authority, Payment Systems Regulator, and Bank of England – whilst designing legislation.</p><p> </p><p>To inform the development of this legislation, the Government published a Call for Evidence on 15 October seeking views on the key considerations associated with cash access, including deposit and withdrawal facilities, cash acceptance, and regulatory oversight of the cash system.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:09:43 answering member 4051 label Biography information for John Glen
tabling member	4378 label Biography information for Colleen Fletcher

1244322

registered interest
date	19/10/2020
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, what recent discussions he has had with representatives of the financial services sector on the effectiveness of the (a) Financial Conduct Authority, (b) Financial Services Compensation Scheme and (c) Financial Ombudsman Scheme.
tabling member constituency	Richmond Park
tabling member printed	Sarah Olney
uin	105494
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The government engages with the financial services sector on a regular basis to discuss matters related to the Financial Conduct Authority, Financial Services Compensation Scheme, and Financial Ombudsman Service, and will continue to do so.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:12:23 answering member 4051 label Biography information for John Glen
tabling member	4591 label Biography information for Sarah Olney

1244687

registered interest
date	19/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts Written Off: Developing Countries
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make representations to his overseas counterparts at the G20 Finance Ministers Meetings on the cancellation of developing countries' debts to the IMF and World Bank to help those countries tackle the covid-19 pandemic.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	105566
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Government is closely monitoring the impact of the crisis on the debt situation in developing countries, including through our membership of the International Monetary Fund, World Bank and Paris Club. It is clear that the COVID-19 pandemic is placing extraordinary pressures on the finances of low and middle income countries. Recognising this, the G20 has taken action to support these countries, agreeing the landmark DSSI (Debt Service Suspension Initiative).The DSSI provides a suspension of debt repayments to eligible countries so they can focus resources on their coronavirus response.</p><p>On the 14<sup>th</sup> October, the G20 Finance Ministers and Central Bank Governors (FMCBG) met. They agreed to extend the DSSI for a further six months and, importantly, reached an in principle agreement on a Common Framework on future debt treatments beyond the DSSI to facilitate timely and orderly debt treatment for DSSI-eligible countries where this is required.A further G20 FMCBG meeting is to take place in early November and the UK is asking all G20 countries to fulfil the necessary internal approvals to endorse and publish the Common Framework in due course.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:19:16 answering member 4051 label Biography information for John Glen
tabling member	4786 label Biography information for Zarah Sultana

1244208

registered interest
date	16/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Employee Ownership and Save as You Earn
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many people received income tax relief as a result of their participation in (a) Save As You Earn and (b) Share Incentive Plan schemes in the 12 months year for which such data is available, by (i) basic rate income tax payers, (ii) higher income tax payers, (iii) additional rate of income tax payers and (iv) people who fell beneath the income tax threshold.
tabling member constituency	Shipley
tabling member printed	Philip Davies
uin	104708
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Save As You Earn (SAYE) scheme and Share Incentive Plans (SIPs) are tax-advantaged employee share schemes offered by the Government.</p><p> </p><p>Information on employees’ income tax band is not collected as part of SAYE or SIP returns. This information is therefore not readily available and could only be provided with disproportionate cost.</p><p> </p><p>HMRC publishes annual statistics on participation in employee share schemes which are available here: <a href="https://www.gov.uk/government/collections/employee-share-schemes-statistics#national-statistics" target="_blank">https://www.gov.uk/government/collections/employee-share-schemes-statistics#national-statistics</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:36:39 answering member 4051 label Biography information for John Glen
tabling member	1565 label Biography information for Sir Philip Davies

1243970

registered interest
date	15/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Retail Prices Index
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, which stakeholders he or his ministerial colleagues have met since December 2019 to discuss changing the formula for calculating the Retail Price Index.
tabling member constituency	Carmarthen East and Dinefwr
tabling member printed	Jonathan Edwards
uin	104085
answer	answer is ministerial correction date of answer 23/10/2020 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>As outlined in the consultation document (https://www.gov.uk/government/consultations/a-consultation-on-the-reform-to-retail-prices-index-rpi-methodology), factors related to the impact of the proposal on the holders of index-linked gilts are likely to be relevant to the Chancellor’s decision on whether he would offer his consent to such a proposal before 2030. At the Budget in March, the government and UKSA launched a consultation to seek views on whether UKSA’s proposal should be implemented at a date other than 2030, and, if so, when between 2025 and 2030.</p><p>The consultation closed for responses on 21 August. The government and UKSA will respond to the consultation in the autumn. As Economic Secretary to the Treasury, in July 2020 I chaired two roundtables comprising representatives of index-linked gilt holders to hear their views on the impact of the timing of reform. Further details of these meetings will be published as part of the response to the consultation.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:50:53 answering member 4051 label Biography information for John Glen
tabling member	3943 label Biography information for Jonathan Edwards

1243997

registered interest
date	15/10/2020
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, how may members of credit unions there are, by region of the UK.
tabling member constituency	Harrow West
tabling member printed	Gareth Thomas
uin	104022
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>According to the latest data on credit unions published by the Prudential Regulation Authority, the membership of credit unions in the first quarter of 2020 by region of the UK is given below:</p><p> </p><table><tbody><tr><td><p><strong>Region</strong></p></td><td><p><strong>Membership</strong></p></td></tr><tr><td><p>England</p></td><td><p>923,321</p></td></tr><tr><td><p>Wales</p></td><td><p>81,766</p></td></tr><tr><td><p>Scotland</p></td><td><p>423,554</p></td></tr><tr><td><p>Northern Ireland</p></td><td><p>707,271</p></td></tr></tbody></table><p> </p><p>Neither HM Treasury, the Prudential Regulation Authority nor the Financial Conduct Authority collect information on the membership of credit unions on a local level. The data on overall credit union membership is available online and can be found here: <a href="https://www.bankofengland.co.uk/news?NewsTypes=571948d14c6943f7b5b7748ad80bef29&amp;Taxonomies=5de036cac1ff46b49b8ac98c266de410&amp;InfiniteScrolling=False&amp;Direction=Latest" target="_blank">https://www.bankofengland.co.uk/news?NewsTypes=571948d14c6943f7b5b7748ad80bef29&amp;Taxonomies=5de036cac1ff46b49b8ac98c266de410&amp;InfiniteScrolling=False&amp;Direction=Latest</a></p><p> </p><p>In order to offer mortgage products, a credit union must hold special mortgage permissions. Any credit union can apply for these permissions, providing that they can demonstrate they can meet the requirements set out by the Financial Conduct Authority for mortgage lenders. Credit unions also need to comply with the maximum loan value limits set out by the Prudential Regulation Authority.</p><p> </p><p>Currently, 4 UK credit unions hold mortgage permissions. These are Glasgow Credit Union, ScotWest Credit Union, Capital Credit Union and No1 Copperpot Credit Union. The first three are based in Scotland, while membership of No1 CopperPot Credit Union is open to UK police officers and staff. In total, these credit unions have approximately over 140,000 members. We are unable to provide data on the membership of the individual credit unions.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 104023 question first answered 23/10/2020 08:47:39 answering member 4051 label Biography information for John Glen
tabling member	177 label Biography information for Gareth Thomas

1243998

registered interest
date	15/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Unions: Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many credit unions in each region of the UK have the ability to offer mortgages; and how many members each of those credit unions have.
tabling member constituency	Harrow West
tabling member printed	Gareth Thomas
uin	104023
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>According to the latest data on credit unions published by the Prudential Regulation Authority, the membership of credit unions in the first quarter of 2020 by region of the UK is given below:</p><p> </p><table><tbody><tr><td><p><strong>Region</strong></p></td><td><p><strong>Membership</strong></p></td></tr><tr><td><p>England</p></td><td><p>923,321</p></td></tr><tr><td><p>Wales</p></td><td><p>81,766</p></td></tr><tr><td><p>Scotland</p></td><td><p>423,554</p></td></tr><tr><td><p>Northern Ireland</p></td><td><p>707,271</p></td></tr></tbody></table><p> </p><p>Neither HM Treasury, the Prudential Regulation Authority nor the Financial Conduct Authority collect information on the membership of credit unions on a local level. The data on overall credit union membership is available online and can be found here: <a href="https://www.bankofengland.co.uk/news?NewsTypes=571948d14c6943f7b5b7748ad80bef29&amp;Taxonomies=5de036cac1ff46b49b8ac98c266de410&amp;InfiniteScrolling=False&amp;Direction=Latest" target="_blank">https://www.bankofengland.co.uk/news?NewsTypes=571948d14c6943f7b5b7748ad80bef29&amp;Taxonomies=5de036cac1ff46b49b8ac98c266de410&amp;InfiniteScrolling=False&amp;Direction=Latest</a></p><p> </p><p>In order to offer mortgage products, a credit union must hold special mortgage permissions. Any credit union can apply for these permissions, providing that they can demonstrate they can meet the requirements set out by the Financial Conduct Authority for mortgage lenders. Credit unions also need to comply with the maximum loan value limits set out by the Prudential Regulation Authority.</p><p> </p><p>Currently, 4 UK credit unions hold mortgage permissions. These are Glasgow Credit Union, ScotWest Credit Union, Capital Credit Union and No1 Copperpot Credit Union. The first three are based in Scotland, while membership of No1 CopperPot Credit Union is open to UK police officers and staff. In total, these credit unions have approximately over 140,000 members. We are unable to provide data on the membership of the individual credit unions.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 104022 question first answered 23/10/2020 08:47:39 answering member 4051 label Biography information for John Glen
tabling member	177 label Biography information for Gareth Thomas