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1722281

registered interest
date	19/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Office of Financial Sanctions Implementation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps her Department is taking with the Office of Financial Sanctions Implementation to enforce the UK’s sanctions regime.
tabling member constituency	York Outer
tabling member printed	Mr Luke Charters
uin	850
answer	answer is ministerial correction date of answer 24/07/2024 answer text <p>The Treasury’s Office of Financial Sanctions Implementation (OFSI) is responsible for civil enforcement of the UK’s financial sanctions regimes.</p><p> </p><p>OFSI is committed to ensuring that the UK has the strongest possible capability to implement and enforce the UK’s financial sanctions. OFSI has scaled up its enforcement capabilities through legislative changes and expanded its team, allowing it to progress a higher number of complex investigations. For example, in the financial year 2022 – 2023 OFSI increased resource in its enforcement team by 175%.</p><p> </p><p>OFSI expects to see the first monetary penalties resulting from breaches related to the 2022 Russia designations in 2024.</p><p> </p> answering member constituency Hampstead and Highgate answering member printed Tulip Siddiq question first answered 24/07/2024 16:08:44 answering member 4518 label Biography information for Tulip Siddiq
tabling member	5199

1722018

registered interest
date	18/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Expenditure
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the annual deficit was (a) in percentage of GDP, (b) in 2010 real terms and (c) as a proportion of government spending in the financial year (i) 2009-10 and (ii) 2023-24.
tabling member constituency	Basildon and Billericay
tabling member printed	Mr Richard Holden
uin	707
answer	answer is ministerial correction date of answer 23/07/2024 answer text <p>The annual deficit in 2009-2010 was 10.3% of GDP and 4.5% of GDP in 2023-24.</p><p> </p><p>The Office of National Statistics (ONS) does not publish the annual deficit in real terms. In order to remove the effects of inflation and provide an indication of a country’s ability to service borrowing and debt, it is typical to compare fiscal aggregates as a percentage of GDP, which represents the scale of the aggregate in comparison to the size of the economy at the relevant time.</p><p> </p><p>In nominal terms, the annual deficit was £160.9bn in 2009-2010 and £122.1bn in 2023-24.</p><p> </p><p>As a proportion of government spending, the annual deficit was 22.2% in 2009-2010 and 10.0% in 2023-24.</p><p> </p><p>More information is available on the ONS’ website under “Public sector finances, UK Statistical bulletins”.</p> answering member constituency Bristol North West answering member printed Darren Jones question first answered 23/07/2024 17:42:52 answering member 4621 label Biography information for Darren Jones
tabling member	4813 label Biography information for Mr Richard Holden

1722023

registered interest
date	18/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banking Hubs
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what criteria she plans to use to identify potential locations for new banking hubs.
tabling member constituency	Liverpool Walton
tabling member printed	Dan Carden
uin	668
answer	answer is ministerial correction date of answer 23/07/2024 answer text <p>The Government recognises the importance of banking to communities and high streets. The Government has therefore committed to work closely with banks to roll out at least 350 banking hubs, which provide individuals and businesses up and down the country with critical cash and banking services.</p><p> </p><p>Currently, when a branch closes or a community makes a request, LINK (the operator of the UK’s largest ATM network) is responsible for assessing whether a banking hub would be a suitable recommendation for a community. The criteria that LINK uses to assess the needs of a local community can be found on <a href="https://www.link.co.uk/help-centre/how-we-assess-access-to-cash-in-communities" target="_blank">LINK’s website</a>.</p><p> </p><p>In December last year, the Financial Conduct Authority consulted on its regulatory approach to access to cash, including the criteria it proposes designated entities should use when assessing the needs of local communities. This can be found <a href="https://www.fca.org.uk/publication/consultation/cp23-29.pdf" target="_blank">here</a>. The FCA intends to publish its final rules in the third quarter of this year.</p> answering member constituency Hampstead and Highgate answering member printed Tulip Siddiq question first answered 23/07/2024 14:09:09 answering member 4518 label Biography information for Tulip Siddiq
tabling member	4651 label Biography information for Dan Carden

1722027

registered interest
date	18/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cooperatives
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps her Department plans to take to support co-operatives.
tabling member constituency	Liverpool Walton
tabling member printed	Dan Carden
uin	671
answer	answer is ministerial correction date of answer 23/07/2024 answer text <p>The Government recognises the important contribution that co-operatives make to the economy, serving local communities around the UK and ensuring the UK has a diverse business sector with their model of shared ownership. Co-operatives, alongside other mutuals in the UK, had combined annual revenues of £87.9 billion in 2022, equating to 3.5% of UK GDP.</p><p> </p><p>The Government is committed to supporting the UK’s co-operative and mutuals sector and will be working closely with the sector to address any barriers that it currently faces.</p> answering member constituency Hampstead and Highgate answering member printed Tulip Siddiq question first answered 23/07/2024 14:51:44 answering member 4518 label Biography information for Tulip Siddiq
tabling member	4651 label Biography information for Dan Carden

1722037

registered interest
date	18/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Energy: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the removal of the investment allowance in the Energy Profits Levy on private investment into energy transition.
tabling member constituency	West Aberdeenshire and Kincardine
tabling member printed	Andrew Bowie
uin	644
answer	answer is ministerial correction date of answer 24/07/2024 answer text <p>The Government’s tax commitments are set out in the manifesto. HM Treasury are working to deliver them and will set out further details in due course.</p> answering member constituency Ealing North answering member printed James Murray grouped question UIN 646 question first answered 24/07/2024 12:46:20 answering member 4797 label Biography information for James Murray
tabling member	4601 label Biography information for Andrew Bowie

1722040

registered interest
date	18/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Energy: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether she has carried out an economic impact assessment of increasing the Energy Profits Levy.
tabling member constituency	West Aberdeenshire and Kincardine
tabling member printed	Andrew Bowie
uin	646
answer	answer is ministerial correction date of answer 24/07/2024 answer text <p>The Government’s tax commitments are set out in the manifesto. HM Treasury are working to deliver them and will set out further details in due course.</p> answering member constituency Ealing North answering member printed James Murray grouped question UIN 644 question first answered 24/07/2024 12:46:20 answering member 4797 label Biography information for James Murray
tabling member	4601 label Biography information for Andrew Bowie

1722105

registered interest
date	18/07/2024
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, what her planned timetable is for regulating buy now pay later high cost credit providers; and if she will ensure that such regulation ensures consumers are able to access the financial ombudsman for redress for that form of credit.
tabling member constituency	Walthamstow
tabling member printed	Ms Stella Creasy
uin	609
answer	answer is ministerial correction date of answer 23/07/2024 answer text <p>Regulating Buy Now Pay Later products is crucial to protect people and deliver certainty for the sector.</p><p> </p><p>The government will be looking to work closely with all interested stakeholders and will set out its plans shortly.</p> answering member constituency Hampstead and Highgate answering member printed Tulip Siddiq question first answered 23/07/2024 14:44:46 answering member 4518 label Biography information for Tulip Siddiq
tabling member	4088 label Biography information for Stella Creasy

1722125

registered interest
date	18/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banking Hubs
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what her planned timetable is for rolling out banking hubs in communities affected by branch closures.
tabling member constituency	Macclesfield
tabling member printed	Tim Roca
uin	777
answer	answer is ministerial correction date of answer 23/07/2024 answer text <p>The Government recognises the importance of banking to communities and high streets and has committed to work closely with banks to roll out at least 350 banking hubs over the next five years.</p><p> </p><p>147 banking hubs have already been recommended and Cash Access UK, the industry body responsible for banking hub deployment, expects 100 banking hubs to be open before the end of the year. These will provide individuals and businesses up and down the country with critical cash and banking services.</p><p> </p><p>While not the same as a bank branch, alternative options to access everyday banking services can also include telephone banking, through digital means such as mobile or online banking, and via one of the UK’s 11,500 Post Office branches.</p> answering member constituency Hampstead and Highgate answering member printed Tulip Siddiq question first answered 23/07/2024 16:20:22 answering member 4518 label Biography information for Tulip Siddiq
tabling member	5287

1721214

registered interest
date	17/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: EU Law
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government which EU financial services laws have been repealed to promote the international competitiveness and growth of that sector and its contribution to the UK economy under the Financial Services and Markets Act 2023.
tabling member printed	Baroness Lawlor
uin	HL60
answer	answer is ministerial correction date of answer 23/07/2024 answer text <p>The Financial Services and Markets Act 2023 repeals assimilated law (formerly known as retained EU law), replacing it with rules set by financial services regulators, operating within a framework set by government and Parliament. This repeal is subject to commencement by the Treasury.</p><p> </p><p>As of July 2024, 350 instruments relating to financial services have been replaced – 45% of the total number of instruments. HM Treasury has made or laid instruments to replace assimilated law in areas including Solvency II, the Prospectus Regime, Data Reporting Service Providers, and Securitisation.</p> answering member printed Lord Livermore question first answered 23/07/2024 13:43:45 answering member 4559 label Biography information for Lord Livermore
tabling member	4965 label Biography information for Baroness Lawlor

1721311

registered interest
date	17/07/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Private Education: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the Government plans to impose VAT on private school fees for any part of the academic school year commencing in September 2024.
tabling member constituency	North Bedfordshire
tabling member printed	Richard Fuller
uin	43
answer	answer is ministerial correction date of answer 22/07/2024 answer text <p>The Government is committed to breaking down barriers to opportunity, ensuring every child has access to high-quality education, which is why we have made the tough decision to end tax breaks for private schools. This will raise revenue for essential public services, including investing in the state education system.</p><p> </p><p>The Prime Minister has been clear that if a child has an Education, Health and Care Plan that requires them to attend a private school because their needs cannot be met in the state sector, they will not feel an impact from VAT being charged on fees. The Chancellor has also been clear that changes will not come into force until 2025.</p><p> </p><p>Further details on this policy will be set out in due course. The Government engages with a wide range of stakeholders with an interest in Government policy, including VAT, as part of the policy development and implementation process as a matter of course.</p> answering member constituency Ealing North answering member printed James Murray grouped question UIN 261 262 588 question first answered 22/07/2024 13:16:53 answering member 4797 label Biography information for James Murray
tabling member	3912 label Biography information for Richard Fuller