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31321
star this property registered interest false more like this
star this property date less than 2014-01-07more like thismore than 2014-01-07
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name
star this property answering dept sort name
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what discussions he has had with UKAR regarding the potential effect on customers of a rise in interest rates. more like this
star this property tabling member constituency Kilmarnock and Loudoun more like this
star this property tabling member printed
Cathy Jamieson more like this
star this property uin 182195 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-05-13more like thismore than 2014-05-13
unstar this property answer text <p>This Government's long term economic plan has kept interest rates at record lows for hardworking people across the country.</p><p> </p><p>Many lenders impose affordability stress tests on their mortgage lending decisions to ensure that the mortgage will remain affordable should interest rates rise. The Financial Conduct Authority's Mortgage Market Review rules, which came into force in April this year will require all mortgage lenders to conduct such a stress test.</p><p> </p><p>Although UKAR does not engage in new lending, UKAR runs a range of modelling scenarios to understand the potential effects of interest rate rises on customers. This work helps UKAR to identify customers who may be susceptible to higher interest rates and to engage with such customers at an early stage.</p><p> </p><p>UKAR assists all customers who wish to switch mortgage providers.</p><p> </p><p>NRAM and Bradford and Bingley are managed by UK Asset Resolution Limited (UKAR) which was established in 2010 to manage the disposal and rundown of outstanding assets at Bradford &amp; Bingley and Northern Rock Asset Management in an integrated way, with a view to creating value for the taxpayer. UKAR is managed at arm's length from Government, on commercial principles.</p><p> </p><p>It is therefore not for the Chancellor to discuss detailed commercial matters with UKAR.</p><p> </p>
star this property answering member constituency South Northamptonshire remove filter
star this property answering member printed Andrea Leadsom more like this
star this property grouped question UIN 182196 more like this
star this property question first answered
remove filter
star this property answering member
4117
star this property label Biography information for Andrea Leadsom more like this
star this property tabling member
4011
unstar this property label Biography information for Cathy Jamieson more like this
31322
star this property registered interest false more like this
star this property date less than 2014-01-07more like thismore than 2014-01-07
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name
star this property answering dept sort name
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of an interest rate rise on customers whose mortgages are held by UKAR; and what support is available to assist such customers to switch providers. more like this
star this property tabling member constituency Kilmarnock and Loudoun more like this
star this property tabling member printed
Cathy Jamieson more like this
star this property uin 182196 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-05-13more like thismore than 2014-05-13
unstar this property answer text <p>This Government's long term economic plan has kept interest rates at record lows for hardworking people across the country.</p><p> </p><p>Many lenders impose affordability stress tests on their mortgage lending decisions to ensure that the mortgage will remain affordable should interest rates rise. The Financial Conduct Authority's Mortgage Market Review rules, which came into force in April this year will require all mortgage lenders to conduct such a stress test.</p><p> </p><p>Although UKAR does not engage in new lending, UKAR runs a range of modelling scenarios to understand the potential effects of interest rate rises on customers. This work helps UKAR to identify customers who may be susceptible to higher interest rates and to engage with such customers at an early stage.</p><p> </p><p>UKAR assists all customers who wish to switch mortgage providers.</p><p> </p><p>NRAM and Bradford and Bingley are managed by UK Asset Resolution Limited (UKAR) which was established in 2010 to manage the disposal and rundown of outstanding assets at Bradford &amp; Bingley and Northern Rock Asset Management in an integrated way, with a view to creating value for the taxpayer. UKAR is managed at arm's length from Government, on commercial principles.</p><p> </p><p>It is therefore not for the Chancellor to discuss detailed commercial matters with UKAR.</p><p> </p>
star this property answering member constituency South Northamptonshire remove filter
star this property answering member printed Andrea Leadsom more like this
star this property grouped question UIN 182195 more like this
star this property question first answered
remove filter
star this property answering member
4117
star this property label Biography information for Andrea Leadsom more like this
star this property tabling member
4011
unstar this property label Biography information for Cathy Jamieson more like this
50063
star this property registered interest false more like this
star this property date less than 2014-05-07more like thismore than 2014-05-07
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, if he will undertake a review of the effectiveness of the Debt Relief (Developing Countries) Act 2010 in preventing the use of the English legal system by vulture funds to extract funds from developing countries. more like this
star this property tabling member constituency Birmingham, Hall Green more like this
star this property tabling member printed
Mr Roger Godsiff more like this
star this property uin 198104 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-05-13more like thismore than 2014-05-13
unstar this property answer text <p>I refer the hon. Member to the answer given by the former Financial Secretary to the Treasury, my right hon. Friend the Member for Bromsgrove (Mr Javid) on 6 January 2014, which includes information on the Government's approach to promoting debt sustainability among low income countries.</p><p> </p><p>The impact assessment for the Debt Relief (Developing Countries) Act 2010 indicates direct benefits to Heavily Indebted Poor Countries (HIPCs) of between zero and £26m a year. The Government's decision to make the Act permanent on 25 May 2011 was taken following consultation with relevant stakeholders; evidence from that exercise suggested that the Act had some benefit on HIPCs and no evidence was found of unintended or adverse effects.</p><p> </p><p>The UK continues to be at the forefront of international efforts to promote responsible lending and borrowing practices, including our ongoing support for the IMF/World Bank Debt Sustainability Framework and OECD lending principles covering official export credits. The UK also supports the World Bank's debt reduction facility, which enables countries to buy back their commercial debt at a deep discount with donor backing, and the African Legal Support Facility, which provides legal advice to countries facing litigation.</p><p> </p>
star this property answering member constituency South Northamptonshire remove filter
star this property answering member printed Andrea Leadsom more like this
star this property question first answered
remove filter
star this property answering member
4117
star this property label Biography information for Andrea Leadsom more like this
star this property tabling member
304
unstar this property label Biography information for Mr Roger Godsiff more like this
50071
star this property registered interest false more like this
star this property date less than 2014-05-07more like thismore than 2014-05-07
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what steps he will take to implement the Fourth Anti-Money Laundering Directive; and what plans he has to distinguish between high and low risk trusts. more like this
star this property tabling member constituency Belfast East more like this
star this property tabling member printed
Naomi Long more like this
star this property uin 198101 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-05-13more like thismore than 2014-05-13
unstar this property answer text <p>The Treasury is leading the on-going negotiations on the Fourth Anti-Money Laundering Directive. The UK is committed to implementing measures to prevent potential misuse of trusts for illicit purposes. We support mandatory requirements on trustees to hold beneficial ownership information on their trusts and together with the new automatic exchange of tax information agreements there will be more transparency and information exchange on trusts than ever before.</p> more like this
star this property answering member constituency South Northamptonshire remove filter
star this property answering member printed Andrea Leadsom more like this
star this property question first answered
remove filter
star this property answering member
4117
star this property label Biography information for Andrea Leadsom more like this
star this property tabling member
3920
unstar this property label Biography information for Naomi Long more like this
50324
star this property registered interest false more like this
star this property date less than 2014-05-08more like thismore than 2014-05-08
star this property answering body
HM Treasury more like this
star this property answering dept id 14 more like this
unstar this property answering dept short name Treasury more like this
star this property answering dept sort name CaTreasury more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask Mr Chancellor of the Exchequer, what recent discussions he has had with his foreign counterparts about reforms to transfer pricing arrangements. more like this
star this property tabling member constituency Dover more like this
star this property tabling member printed
Charlie Elphicke more like this
star this property uin 198184 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2014-05-13more like thismore than 2014-05-13
unstar this property answer text <p><strong>The Chancellor of the Exchequer attended a G5 Ministers meeting in Paris on 28 April to discuss further steps on tackling tax evasion and avoidance. At the meeting, the G5 Ministers reiterated their strong support to the OECD-G20 Base Erosion and Profit Shifting project to develop a single set of global rules to tackle aggressive tax planning. The G5 Ministers agreed that transfer pricing is of the utmost importance and that the rules must be adapted to ensure that profit and value creation are aligned. </strong></p> more like this
star this property answering member constituency South Northamptonshire remove filter
star this property answering member printed Andrea Leadsom more like this
star this property question first answered
remove filter
star this property answering member
4117
star this property label Biography information for Andrea Leadsom more like this
star this property tabling member
3971
unstar this property label Biography information for Charlie Elphicke more like this