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1124686

registered interest
date	03/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Multinational Companies: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the effect of the European Commission decision that the UK must recover illegal State aid from the multinational companies that benefited from the group financing exemption of the UK's Controlled Foreign Company (CFC) rules.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	250796
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>As the European Commission’s State aid decision makes clear, the existence and quantification of state aid in relation to the group financing exemption of the UK’s Controlled Foreign Company (CFC) rules can only be ascertained by a detailed examination of the facts and circumstances of each case. The decision also makes it clear that no legislative changes are required going forwards.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 09/05/2019 13:30:01 answering member 3935 label Biography information for Mel Stride
tabling member	4657 label Biography information for Anneliese Dodds

1124694

registered interest
date	03/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what role his Department will play in the investigation announced by the Economic Secretary on 1 April 2019 into the events at London Capital & Finance and the circumstances surrounding them.
tabling member constituency	Hemsworth
tabling member printed	Jon Trickett
uin	250750
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. HM Treasury officials have been in communication with the Financial Conduct Authority (FCA) regarding LCF since January 2019. I wrote to the FCA on its role in regulating LCF via the following letter of 1 April 2019:</p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf</a></p><p> </p><p>In this letter, I announced that I would order an investigation into the failure of LCF, using Treasury powers under section 77 of the Financial Services Act 2012. I want to make sure we have the strongest and safest financial system possible. By ordering this investigation, we will better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.</p><p> </p><p>The role of the Treasury in this investigation is set out in sections 77 to 82 of the Financial Services Act 2012. It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including its duration and the reporting arrangements, will be published shortly.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 250752 250753 question first answered 09/05/2019 15:03:17 answering member 4051 label Biography information for John Glen
tabling member	410 label Biography information for Jon Trickett

1124696

registered interest
date	03/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when the investigation into the events at London Capital and Finance and the circumstances surrounding them announced by the Economic Secretary on 1 April 2019 will be completed; and whether the report of that investigation will be published.
tabling member constituency	Hemsworth
tabling member printed	Jon Trickett
uin	250752
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. HM Treasury officials have been in communication with the Financial Conduct Authority (FCA) regarding LCF since January 2019. I wrote to the FCA on its role in regulating LCF via the following letter of 1 April 2019:</p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf</a></p><p> </p><p>In this letter, I announced that I would order an investigation into the failure of LCF, using Treasury powers under section 77 of the Financial Services Act 2012. I want to make sure we have the strongest and safest financial system possible. By ordering this investigation, we will better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.</p><p> </p><p>The role of the Treasury in this investigation is set out in sections 77 to 82 of the Financial Services Act 2012. It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including its duration and the reporting arrangements, will be published shortly.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 250750 250753 question first answered 09/05/2019 15:03:17 answering member 4051 label Biography information for John Glen
tabling member	410 label Biography information for Jon Trickett

1124697

registered interest
date	03/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	London Capital & Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when his Department first had discussions with the Financial Conduct Authority on its performance in regulating the activity of London Finance and Capital.
tabling member constituency	Hemsworth
tabling member printed	Jon Trickett
uin	250753
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>This Government takes the failure of London Capital &amp; Finance (LCF) and its impact on consumers very seriously. HM Treasury officials have been in communication with the Financial Conduct Authority (FCA) regarding LCF since January 2019. I wrote to the FCA on its role in regulating LCF via the following letter of 1 April 2019:</p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf</a></p><p> </p><p>In this letter, I announced that I would order an investigation into the failure of LCF, using Treasury powers under section 77 of the Financial Services Act 2012. I want to make sure we have the strongest and safest financial system possible. By ordering this investigation, we will better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.</p><p> </p><p>The role of the Treasury in this investigation is set out in sections 77 to 82 of the Financial Services Act 2012. It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including its duration and the reporting arrangements, will be published shortly.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 250750 250752 question first answered 09/05/2019 15:03:17 answering member 4051 label Biography information for John Glen
tabling member	410 label Biography information for Jon Trickett

1124713

registered interest
date	03/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Social Security Benefits: Cohabitation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential merits of extending (a) the marriage allowance and (b) other benefits to long-term cohabiting couples.
tabling member constituency	Rutherglen and Hamilton West
tabling member printed	Ged Killen
uin	250798
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>The Government introduced the Marriage Allowance in April 2015. Every time the personal allowance increases, the Marriage Allowance automatically becomes more generous.</p>The increase to personal allowance to £12,500 means that, from April this year, eligible couples will be able to transfer £1,250, compared to £1,060 in 2015-16. This means that in 2019-20, eligible couples can receive a tax reduction of up to £250, or £1,150 if they make a backdated claim to 2015-16.<p> </p><p>The Marriage Allowance was introduced specifically to recognise marriage and civil partnerships in the tax system. Therefore, the Government has made no assessment of extending Marriage Allowance to cohabiting couples.</p><p> </p><p>The majority of benefits are paid on a household basis and the Government currently has no plans to change this.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 09/05/2019 13:34:34 answering member 3935 label Biography information for Mel Stride
tabling member	4672 label Biography information for Ged Killen

1124728

registered interest
date	03/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Freeports
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when the Government expects to publish its policy paper on free ports.
tabling member constituency	Birkenhead
tabling member printed	Frank Field
uin	250757
answer	answer is ministerial correction date of answer 09/05/2019 answer text <p>The Government receives a wide range of representations from stakeholders on all matters of fiscal policy, including free ports. We consider all of them in the normal process at fiscal events.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 09/05/2019 13:31:29 answering member 3935 label Biography information for Mel Stride
tabling member	478 label Biography information for Lord Field of Birkenhead

1124170

registered interest
date	01/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Fees and Charges
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 ensure that reductions in the interchange rate do not result in free ATMs becoming pay ATMs.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	249934
answer	answer is ministerial correction date of answer 08/05/2019 answer text <p>Last year, Government launched a Call for Evidence on Cash and Digital Payments in the New Economy. One part of the wide range of evidence collected detailed the changing levels of cash usage. Responses showed that, although the proportion of cash transactions is expected to fall over the next 10 years, cash remains important in the lives of many people and businesses across the UK. That’s why the Government is committed to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.</p><p> </p><p>The Government has not made an assessment of the effect on poor households of free-to-use ATMs becoming pay-to-use. However, the Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision, including those that are free-to-use. The PSR regulates LINK, the scheme which runs the UK’s ATM network, and has used its powers to hold LINK to account over LINK’s commitments to preserve the broad geographic spread of the ATM network.</p><p> </p><p>The PSR has set out requirements of LINK, including that any cuts to interchange fees (the fees which fund free-to-use ATMs) must be incremental, with action taken by LINK where the impact is not as expected. Having implemented two of the four planned incremental reductions to the interchange fee, LINK has cancelled the third reduction and put on hold the fourth. The PSR welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions. These adjustments gave the PSR further assurances that LINK is committed to making sure communities do not lose their free-to-use ATMs.</p><p> </p><p>LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme by tripling the funding available to ATMs in the most deprived areas of the UK and undertaken new financial support for ATMs in remote and deprived areas.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 249935 249936 249937 question first answered 08/05/2019 14:29:23 answering member 4051 label Biography information for John Glen
tabling member	4124 label Biography information for Chi Onwurah

1124172

registered interest
date	01/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the effect on poorer households of recent increases in the number of free ATMs becoming pay ATMs; and if he will make a statement.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	249935
answer	answer is ministerial correction date of answer 08/05/2019 answer text <p>Last year, Government launched a Call for Evidence on Cash and Digital Payments in the New Economy. One part of the wide range of evidence collected detailed the changing levels of cash usage. Responses showed that, although the proportion of cash transactions is expected to fall over the next 10 years, cash remains important in the lives of many people and businesses across the UK. That’s why the Government is committed to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.</p><p> </p><p>The Government has not made an assessment of the effect on poor households of free-to-use ATMs becoming pay-to-use. However, the Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision, including those that are free-to-use. The PSR regulates LINK, the scheme which runs the UK’s ATM network, and has used its powers to hold LINK to account over LINK’s commitments to preserve the broad geographic spread of the ATM network.</p><p> </p><p>The PSR has set out requirements of LINK, including that any cuts to interchange fees (the fees which fund free-to-use ATMs) must be incremental, with action taken by LINK where the impact is not as expected. Having implemented two of the four planned incremental reductions to the interchange fee, LINK has cancelled the third reduction and put on hold the fourth. The PSR welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions. These adjustments gave the PSR further assurances that LINK is committed to making sure communities do not lose their free-to-use ATMs.</p><p> </p><p>LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme by tripling the funding available to ATMs in the most deprived areas of the UK and undertaken new financial support for ATMs in remote and deprived areas.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 249934 249936 249937 question first answered 08/05/2019 14:29:23 answering member 4051 label Biography information for John Glen
tabling member	4124 label Biography information for Chi Onwurah

1124174

registered interest
date	01/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cash Dispensing: Fees and Charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions he has had with the Payment Services Regulator on the effect of changes to LINK rates; and whether he plans to re-impose interchange rates at LINK cost study levels.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	249936
answer	answer is ministerial correction date of answer 08/05/2019 answer text <p>Last year, Government launched a Call for Evidence on Cash and Digital Payments in the New Economy. One part of the wide range of evidence collected detailed the changing levels of cash usage. Responses showed that, although the proportion of cash transactions is expected to fall over the next 10 years, cash remains important in the lives of many people and businesses across the UK. That’s why the Government is committed to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.</p><p> </p><p>The Government has not made an assessment of the effect on poor households of free-to-use ATMs becoming pay-to-use. However, the Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision, including those that are free-to-use. The PSR regulates LINK, the scheme which runs the UK’s ATM network, and has used its powers to hold LINK to account over LINK’s commitments to preserve the broad geographic spread of the ATM network.</p><p> </p><p>The PSR has set out requirements of LINK, including that any cuts to interchange fees (the fees which fund free-to-use ATMs) must be incremental, with action taken by LINK where the impact is not as expected. Having implemented two of the four planned incremental reductions to the interchange fee, LINK has cancelled the third reduction and put on hold the fourth. The PSR welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions. These adjustments gave the PSR further assurances that LINK is committed to making sure communities do not lose their free-to-use ATMs.</p><p> </p><p>LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme by tripling the funding available to ATMs in the most deprived areas of the UK and undertaken new financial support for ATMs in remote and deprived areas.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 249934 249935 249937 question first answered 08/05/2019 14:29:24 answering member 4051 label Biography information for John Glen
tabling member	4124 label Biography information for Chi Onwurah

1124176

registered interest
date	01/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the proportion of household income spent as cash in the last 12 months; and what projection his Department has made of changes in the level of income and spending with cash in the next 10 years.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	249937
answer	answer is ministerial correction date of answer 08/05/2019 answer text <p>Last year, Government launched a Call for Evidence on Cash and Digital Payments in the New Economy. One part of the wide range of evidence collected detailed the changing levels of cash usage. Responses showed that, although the proportion of cash transactions is expected to fall over the next 10 years, cash remains important in the lives of many people and businesses across the UK. That’s why the Government is committed to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.</p><p> </p><p>The Government has not made an assessment of the effect on poor households of free-to-use ATMs becoming pay-to-use. However, the Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision, including those that are free-to-use. The PSR regulates LINK, the scheme which runs the UK’s ATM network, and has used its powers to hold LINK to account over LINK’s commitments to preserve the broad geographic spread of the ATM network.</p><p> </p><p>The PSR has set out requirements of LINK, including that any cuts to interchange fees (the fees which fund free-to-use ATMs) must be incremental, with action taken by LINK where the impact is not as expected. Having implemented two of the four planned incremental reductions to the interchange fee, LINK has cancelled the third reduction and put on hold the fourth. The PSR welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions. These adjustments gave the PSR further assurances that LINK is committed to making sure communities do not lose their free-to-use ATMs.</p><p> </p><p>LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme by tripling the funding available to ATMs in the most deprived areas of the UK and undertaken new financial support for ATMs in remote and deprived areas.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 249934 249935 249936 question first answered 08/05/2019 14:29:24 answering member 4051 label Biography information for John Glen
tabling member	4124 label Biography information for Chi Onwurah