Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1491199

registered interest
date	20/07/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	NatWest Group: Individual Savings Accounts
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 15 July 2022 to Question 34831 on NatWest Group: Child Trust Fund, what recent discussions his Department has had with representatives of the Financial Ombudsman Service on complaints regarding NatWest Junior ISA accounts, in the context of the Government's majority stake in NatWest Group.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	40742
answer	answer is ministerial correction date of answer 05/09/2022 answer text <p>Treasury ministers and officials engage with stakeholders on a variety of issues. However, the Financial Ombudsman Service (FOS) is an independent non-governmental body. The independence of the FOS underpins its credibility, authority and value to consumers. Although the Government discusses a range of issues with the FOS it does not therefore seek to intervene in its decision making.</p><p> </p><p>The Government also no longer holds a majority stake in NatWest Group and manages its shareholding at arm’s length on a commercial basis through UK Government Investments Ltd (UKGI). UKGI's role is to manage the investment, not the bank itself. NatWest Group retains its own independent board and management team for strategic and operational decisions.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller question first answered 05/09/2022 07:17:40 answering member 3912 label Biography information for Richard Fuller
tabling member	1200 label Biography information for Sir Greg Knight

1488514

registered interest
date	12/07/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Natwest Group: Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will hold discussions with representatives of NatWest Group on ensuring that people are able to access their recently matured Child Trust Fund accounts; and if he will make a statement.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	34829
answer	answer is ministerial correction date of answer 15/07/2022 answer text <p>Treasury ministers and officials engage with stakeholders on a variety of issues. However, how firms service their financial products is a commercial decision for firms in which the Government does not seek to intervene. Nonetheless, the Government is committed to reuniting all young adults with their Child Trust Funds (CTFs) and recognises the importance of ensuring that young adults can benefit from these funds as they reach adulthood.</p><p> </p><p>The Child Trust Fund Regulations do not require firms to provide access to money held in these accounts within a defined period of time upon maturity. However, UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles for Businesses. This includes a general requirement for firms to provide a prompt, efficient and fair service to all of their customers.</p><p> </p><p>Any dispute arising between a bank and its customers is usually best resolved by the parties involved. I encourage all those affected to contact their bank’s customer complaints department. The Financial Conduct Authority’s rules require firms to properly investigate all complaints and, through ongoing supervision, it continues to monitor firms complaint handling processes.</p><p> </p><p>If customers remain unhappy with their bank’s response, they will be eligible to apply to have a further review conducted by the Financial Ombudsman Service (FOS) which provides a free, independent dispute resolution service for customers.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller grouped question UIN 34831 question first answered 15/07/2022 12:11:26 answering member 3912 label Biography information for Richard Fuller
tabling member	1200 label Biography information for Sir Greg Knight

1488516

registered interest
date	12/07/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Natwest Group: Child Trust Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will take steps to ensure NatWest Group's compliance with current legislation in the administration of customers' Child Trust Fund accounts.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	34831
answer	answer is ministerial correction date of answer 15/07/2022 answer text <p>Treasury ministers and officials engage with stakeholders on a variety of issues. However, how firms service their financial products is a commercial decision for firms in which the Government does not seek to intervene. Nonetheless, the Government is committed to reuniting all young adults with their Child Trust Funds (CTFs) and recognises the importance of ensuring that young adults can benefit from these funds as they reach adulthood.</p><p> </p><p>The Child Trust Fund Regulations do not require firms to provide access to money held in these accounts within a defined period of time upon maturity. However, UK banks’ and building societies’ treatment of their customers is governed by the Financial Conduct Authority (FCA) in its Principles for Businesses. This includes a general requirement for firms to provide a prompt, efficient and fair service to all of their customers.</p><p> </p><p>Any dispute arising between a bank and its customers is usually best resolved by the parties involved. I encourage all those affected to contact their bank’s customer complaints department. The Financial Conduct Authority’s rules require firms to properly investigate all complaints and, through ongoing supervision, it continues to monitor firms complaint handling processes.</p><p> </p><p>If customers remain unhappy with their bank’s response, they will be eligible to apply to have a further review conducted by the Financial Ombudsman Service (FOS) which provides a free, independent dispute resolution service for customers.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller grouped question UIN 34829 question first answered 15/07/2022 12:11:26 answering member 3912 label Biography information for Richard Fuller
tabling member	1200 label Biography information for Sir Greg Knight

1464258

registered interest
date	18/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Events Industry: VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make an assessment in this financial year of what impact the current level of VAT being levied on ticket sales for cultural events is having on that industry; if he will make an assessment of the potential merits of reducing the VAT level thereon; and if he will make a statement.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	4489
answer	answer is ministerial correction date of answer 24/05/2022 answer text VAT has been designed as a broad-based tax on consumption and the twenty per cent standard rate applies to the vast majority of goods and services, including tickets for cultural events. While there are exceptions to the standard rate, these have always been strictly limited by both legal and fiscal considerations. The Government keeps all taxes under review, but there are no plans to change the current VAT treatment on ticket sales.<p> </p><p>Tickets were within the scope of the temporary reduced rate of VAT for hospitality and tourism, which was introduced on 15 July 2020 to support the cash flow and viability of around 150,000 businesses and protect over 2.4 million jobs during the Coronavirus pandemic. This relief ended on 31 March 2022. It is right that as Coronavirus restrictions were lifted and demand for goods and services in these sectors increased, the temporary tax reliefs were first reduced and then removed in order to rebuild and strengthen the public finances.</p><p> </p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 24/05/2022 12:59:31 answering member 4517 label Biography information for Lucy Frazer
tabling member	1200 label Biography information for Sir Greg Knight

1437132

registered interest
date	01/03/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of the use of cryptocurrencies on tax receipts to his Department.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	132171
answer	answer is ministerial correction date of answer 07/03/2022 answer text <p>The Government is committed to retaining its global leadership position in fintech and to creating a regulatory environment that allows people to use innovative technologies reliably and safely, while protecting against the risks of them being exploited by criminals.</p><p> </p><p>Businesses trading in or using cryptoassets are taxed on their trading profits. Where a person realises Chargeable Gains from increases in the value of cryptoassets, Capital Gains Tax (CGT) or Corporation Tax on Chargeable Gains may be due. If CGT applies, only Chargeable Gains above the Annual Exempt Amount are taxed.</p><p> </p><p>Cryptoassets can be easily acquired and transferred, including across borders, and while the blockchain provides a transparent and immutable record of transactions, it does not usually record the identity of the owners of cryptoassets. HMRC has developed its capability to take advantage of opportunities that the blockchain offers for forensic compliance work in order to identify those that have failed to declare their gains. HMRC continues to actively monitor the compliance risks as the use of cryptoassets develops.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 07/03/2022 16:02:42 answering member 4517 label Biography information for Lucy Frazer
tabling member	1200 label Biography information for Sir Greg Knight

1417484

registered interest
date	27/01/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Red Diesel
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect of proposals to restrict the use of red diesel from April 2022 on the mining and quarrying industry.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	113067
answer	answer is ministerial correction date of answer 01/02/2022 answer text <p>At Budget 2020, the Chancellor announced that the Government will remove the entitlement to use red diesel from most sectors from April 2022. This will more fairly reflect the negative environmental impact of the emissions they produce and help to ensure that the tax system incentivises the development and adoption of greener alternative technologies.</p><p> </p><p>The Government recognised that this would be a significant change for some businesses and ran a consultation to gather information from affected users on the expected impact of these tax changes and make sure it had not overlooked any exceptional reasons why affected sectors should be allowed to continue to use red diesel beyond April 2022. During the consultation period, the Government engaged directly with a wide variety of organisations, including representatives of the mining and quarrying sector.</p><p> </p><p>However, the Government did not believe that the case made by sectors that will not retain their red diesel entitlement, including the mining and quarrying sector, outweighed the need to ensure fairness between the different users of diesel fuels and the Government’s environmental objectives.</p><p> </p><p>To support the development of alternatives that affected businesses can switch to, the Government is at least doubling the funding provided for energy innovation through the £1 billion Net Zero Innovation Portfolio. From that portfolio, the Government announced the £40 million Red Diesel Replacement Competition, which will provide grant funding for projects that develop and demonstrate lower carbon, lower cost alternatives to red diesel for the construction, and mining and quarrying sectors.</p><p> </p><p>As announced at Spring Budget 2021, from 1 April 2021 until 31 March 2023, companies can also claim 130% first-year capital allowances on qualifying plant and machinery investments.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 01/02/2022 16:00:38 answering member 4527 label Biography information for Helen Whately
tabling member	1200 label Biography information for Sir Greg Knight

1387844

registered interest
date	14/12/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tax Evasion: Cryptocurrencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the existing HMRC enforcement regime with regards to tax evasion using cryptocurrencies; and if he will make a statement.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	92829
answer	answer is ministerial correction date of answer 05/01/2022 answer text <p>Cryptoassets present unique challenges to HMRC as they can be easily acquired and transferred, including across borders, but do not usually record the identity of their owners.</p><p> </p><p>HMRC has used powers provided by Parliament to gather information from cryptoasset exchanges. HMRC has written to customers where data shows they own, or have owned, cryptoassets. They have advised them of the tax consequences of common transactions.</p><p> </p><p>HMRC also applies traditional enforcement approaches, such as enquiring into tax returns.</p><p> </p><p>The UK continues to work with international partners, including multinational organisations such as the Organisation for Economic Co-operation and Development, to cooperate, share information, and develop responses.</p><p> </p><p>The majority of individuals and businesses wish to pay the tax that is due, and the Government wants to help them get their tax affairs right. HMRC has published guidance on the taxation of cryptoassets, which is among the most detailed guidance released by any tax administration, on what is a complex topic.</p><p> </p><p>HMRC has developed its capability to deal with risks arising from cryptoassets through the development of in-house training and the use of blockchain forensic tools.</p><p> </p><p>HMRC will continue to actively monitor the compliance risks as this technology develops and the uses and users of cryptoassets change.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 05/01/2022 14:15:05 answering member 4517 label Biography information for Lucy Frazer
tabling member	1200 label Biography information for Sir Greg Knight

1387544

registered interest
date	13/12/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cheques
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 UK Finance on the future of the cheque; and if he will make a statement.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	91845
answer	answer is ministerial correction date of answer 16/12/2021 answer text <p>Cheques remain an important part of the UK’s payments landscape and, whilst there has been a decline in cheque volumes, they continue to be used by many individuals, businesses, and charities. In order to secure the future of cheque usage in the UK, HM Treasury introduced legislative measures in 2015 to allow UK banks and building societies to introduce ‘cheque imaging’. Cheque image clearing allows a digital image of a cheque to be sent for clearing, rather than the paper cheque itself.</p><p> </p><p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors 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:</p><p> </p><p><a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 16/12/2021 08:16:48 answering member 4051 label Biography information for John Glen
tabling member	1200 label Biography information for Sir Greg Knight

1346349

registered interest
date	13/07/2021
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 the Government is taking to help ensure that (a) vulnerable people, (b) the elderly and (c) people living in rural areas continue to have access to cash.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	32286
answer	answer is ministerial correction date of answer 19/07/2021 answer text <p>The Government recognises that cash is important to the daily lives of millions of individuals and businesses across the UK, including those who may be in vulnerable groups, elderly or living in rural areas.</p><p> </p><p>Therefore, the Government has committed to protecting access to cash for those who need it and ensuring that the UK's cash infrastructure is sustainable for the long term.</p><p> </p><p>The Government made legislative changes via the Financial Services Act 2021 to support the widespread offering of cashback without a purchase, which will allow shops and other businesses to offer a new form of cash withdrawal service to local communities.</p><p> </p><p>On 1 July, the Government published a consultation on broader legislative proposals to protect access to cash. These proposals seek to ensure that people only need to travel reasonable distances to pay in or take out cash, and that the right regulatory oversight for cash access is in place for the future. The consultation is available at: https://www.gov.uk/government/consultations/access-to-cash-consultation</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/07/2021 08:30:37 answering member 4051 label Biography information for John Glen
tabling member	1200 label Biography information for Sir Greg Knight

1342491

registered interest
date	30/06/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Flood Control: Red Diesel
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the effect of the removal of the right to use red diesel from April 2022 for flood risk management purposes on the cost of pumping operations by IDBs and others; what consultation he has had with those likely to be affected; and what steps the Government plans to take to ensure that future flood prevention activities are not compromised.
tabling member constituency	East Yorkshire
tabling member printed	Sir Greg Knight
uin	24905
answer	answer is ministerial correction date of answer 05/07/2021 answer text <p>The changes to the tax treatment of red diesel from April 2022 are designed to incentivise greater energy efficiency and the switch to more environmentally friendly alternatives in both the public and private sectors. The Government recognises that these changes may affect some public sector bodies, including Internal Drainage Boards, and Treasury officials met representatives from the drainage, water level and flood risk management sector to discuss these tax changes. The Treasury will discuss spending pressures that may arise in the public sector as part of the next Spending Review.</p><p> </p><p>The Government takes flood risk very seriously. That is why it has doubled the amount it invests in flood and coastal defences to £5.2 billion by 2027.</p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 05/07/2021 13:45:22 answering member 4597 label Biography information for Kemi Badenoch
tabling member	1200 label Biography information for Sir Greg Knight