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1138909

registered interest
date	15/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Savings
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will meet with (a) banks and (b) other financial institutions on recent reports of personal savings accounts with £170 billion and for which no interest is paid.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	277117
answer	answer is ministerial correction date of answer 18/07/2019 answer text <p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors, including banks and other financial institutions, as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a>.</p>Interest rates on savings accounts are set by the institution providing the account. As this is a commercial decision, the Government does not seek to intervene. If a customer is not content with the interest rate they receive, Government encourages them to shop around to find the best savings account for their needs.<p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 18/07/2019 13:04:01 answering member 4051 label Biography information for John Glen
tabling member	1409 label Biography information for Mr Gregory Campbell

933997

registered interest
date	02/07/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Savings
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what fiscal plans he has to increase the level of personal savings in this Parliament.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	159532
answer	answer is ministerial correction date of answer 05/07/2018 answer text <p>The Government is committed to supporting savers at all stages of life and has introduced a range of measures in recent years to help people build their savings in the way that is right for them.</p><p> </p><p>This year we are introducing a new Help to Save scheme to support working families on low incomes to build up a rainy-day fund, by offering a 50% bonus on up to £50 of monthly savings. We have also increased the ISA allowance by a record amount to £20,000 and introduced a Personal Savings Allowance of up to £1,000 for basic rate taxpayers and £500 for higher rate taxpayers. Thanks to these measures over 95% of people pay no tax on their savings income.</p><p> </p><p>Alongside savings measures, the Government has made significant progress on reducing taxes so that working families can take home more of what they earn. As a result of increases to the personal allowance, a typical basic rate taxpayer will pay £1,075 less income tax in 2018-19, compared to 2010-11.</p><p> </p><p>The Chancellor of the Exchequer keeps all tax policy under review to be considered as part of the budget process.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 05/07/2018 15:34:34 answering member 4051 label Biography information for John Glen
tabling member	1409 label Biography information for Mr Gregory Campbell

642153

registered interest
date	22/11/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Personal Savings
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to the cash savings market study, published by the Financial Conduct Authority in January 2015, how quickly he expects any benefits to be experienced by savers as a result of changes introduced.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	54150
answer	answer is ministerial correction date of answer 25/11/2016 answer text <p>In January 2015, the Financial Conduct Authority (FCA) published its Cash Savings Market Study, which found that competition in the cash savings market was not working well for many consumers. In response, the FCA has consulted on and are introducing new rules and guidance from 1 December 2016 to improve firms’ methods of disclosing information to customers on savings accounts and their interest rates. The rules will make it easier for customers to see what the interest rate is on their account and will place stricter provisions on firms to ensure customers are informed about cuts to their rates.</p> answering member constituency Brighton, Kemptown answering member printed Simon Kirby question first answered 25/11/2016 10:25:53 answering member 3929 label Biography information for Simon Kirby
tabling member	1409 label Biography information for Mr Gregory Campbell

451184

registered interest
date	08/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Personal Savings
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will make an assessment of the potential merits of combining the ISA and personal pension systems.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	26230
answer	answer is ministerial correction date of answer 11/02/2016 answer text <p>The Chancellor of the Exchequer keeps all taxes under review.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 11/02/2016 13:51:49 answering member 1529 label Biography information for Mr David Gauke
tabling member	1409 label Biography information for Mr Gregory Campbell

64154

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Personal Savings
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will meet representatives of financial institutions to discuss how those institutions can assist customers to get the best return on their savings.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	202658
answer	answer is ministerial correction date of answer 02/07/2014 answer text <p>Treasury Ministers have discussions with a wide variety of organisations in the public and private sectors. 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>www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</p><p> </p><p>It is important that customers can make the most of their savings. This is why at Budget 2014 we announced a radical package of measures to support savers – reducing taxes for the lowest income savers, reforming the ISA regime to give savers greater flexibility as to where and how they save their money, and creating a product to help retired savers see a better return.</p><p> </p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 02/07/2014 16:45:13 answering member 4117 label Biography information for Andrea Leadsom
tabling member	1409 label Biography information for Mr Gregory Campbell