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1185677

registered interest
date	17/03/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to bring forward legislative proposals to support businesses operating as (a) co-operatives and (b) mutuals during the covid-19 outbreak.
tabling member constituency	Stalybridge and Hyde
tabling member printed	Jonathan Reynolds
uin	30759
answer	answer is ministerial correction date of answer 25/03/2020 answer text <p>The Chancellor has set out a package of temporary, timely and targeted measures to support public services, people and businesses through this period of disruption caused by COVID-19.</p><p> </p><p>This package includes a £10,000 cash grant to the smallest businesses, delivered by local authorities. Small businesses, including co-operatives, that pay little or no business rates and are eligible for small business rate relief or rural rate relief will be contacted by their local authority; they do not need to apply. The funding will be provided to local authorities in early April.</p><p> </p><p>The package also includes the Coronavirus Business Interruption Loan Scheme (CBILS), offering loans of up to £5 million for SMEs through the British Business Bank (BBB). Where co-operatives meet the eligibility conditions, including operating within an eligible industrial sector, they may be eligible for loans under CBILS. Final decision-making on whether a small business is eligible for CBILS is delegated to the accredited lender.</p><p> </p><p>The Government recognises the value of co-operatives and mutuals, and officials will continue to engage with representatives from across the sector to understand the impact of the disruption caused by COVID-19.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 25/03/2020 12:36:24 answering member 3991 label Biography information for Jesse Norman
tabling member	4119 label Biography information for Jonathan Reynolds

1181381

registered interest
date	27/02/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Workplace Pensions: Tax Allowances
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 estimated annual cost of providing tax relief to beneficiaries on pension pots inherited before the recipient is 75.
tabling member constituency	Stalybridge and Hyde
tabling member printed	Jonathan Reynolds
uin	21984
answer	answer is ministerial correction date of answer 05/03/2020 answer text <p>Since April 2015, individuals were able to pass on their unused defined contribution pension savings up to their Lifetime Allowance to any nominated beneficiary when they die, instead of paying the 55 per cent Income Tax charge which applied to most cases prior to that date.</p><p> </p><p>The Exchequer cost of this change was set out at Autumn Statement 2014. In particular, information has been published on page 46 of the ‘Autumn Statement 2014 policy costings’ document, available here: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/384071/AS2014_policy_costings_final.pdf" target="_blank">https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/384071/AS2014_policy_costings_final.pdf</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 05/03/2020 09:34:16 answering member 4051 label Biography information for John Glen
tabling member	4119 label Biography information for Jonathan Reynolds

1172525

registered interest
date	22/01/2020
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	1
legislature	25259 pref label House of Commons
question text	What plans the Government has to comply with provisions of the Markets in Financial Institutions Directive on broker dealers after the UK leaves the EU.
tabling member constituency	Stalybridge and Hyde
tabling member printed	Jonathan Reynolds
uin	6676
answer	answer is ministerial correction date of answer 29/01/2020 answer text <p>We will leave the EU on 31 January with the same regulatory rulebook, including Markets in Financial Instruments Directive (MiFID) II regulations on broker dealers, as the EU27. We have brought MiFID II regulations into UK law. Firms will be expected to comply with these UK regulations after the Implementation Period.</p><p> </p><p>The UK is committed to building a strong and mutually beneficial future relationship on Financial Services with the EU after we leave.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 29/01/2020 12:41:26 answering member 4051 label Biography information for John Glen
tabling member	4119 label Biography information for Jonathan Reynolds

1171510

registered interest
date	16/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Trade Agreements
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether it is the Government's policy that the UK EU trade deal will include the financial services sector.
tabling member constituency	Stalybridge and Hyde
tabling member printed	Jonathan Reynolds
uin	4339
answer	answer is ministerial correction date of answer 24/01/2020 answer text Yes. The UK has always been clear that we are seeking a broad and stable future relationship with the EU in financial services. answering member constituency Salisbury answering member printed John Glen question first answered 24/01/2020 10:56:10 answering member 4051 label Biography information for John Glen
tabling member	4119 label Biography information for Jonathan Reynolds

1151072

registered interest
date	21/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Works Loan Board
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, for what reason (a) the borrowing rate for local authorities from the Public Works Loan Board was increased by HM Treasury by 100bps on 9 October 2019 and (b) that increase was not disclosed in a Delegated Legislation Committee which considered the Instrument that increased the borrowing limit for that board on 3 October 2019.
tabling member constituency	Stalybridge and Hyde
tabling member printed	Jonathan Reynolds
uin	2855
answer	answer is ministerial correction date of answer 29/10/2019 answer text <p>The Public Works Loan Board enables Local Authorities to borrow money at low rates. Some local authorities substantially increased their use of the Public Works Loan Board over the summer, as the cost of borrowing fell to record lows. To ensure the continued availability of lending for local government investment in capital projects the Government increased the level of available PWLB funding by £10 billion and restored rates to levels available in 2018. In 2018 Local Authorities delivered £25.8bn of capital expenditure in England.</p><p> </p><p>Borrowing from the Public Works Loan Board sits on the Government’s balance sheet and HM Treasury keeps this under review.</p><p> </p><p>It was not possible to announce the rate change prior to its implementation because the change was market sensitive.</p> answering member constituency Salisbury answering member printed John Glen question first answered 29/10/2019 16:59:23 answering member 4051 label Biography information for John Glen
tabling member	4119 label Biography information for Jonathan Reynolds

1149074

registered interest
date	14/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: EU Countries
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the Government's preferred method is of ensuring continued market access to the EU for UK-based financial services firms after the UK leaves the EU.
tabling member constituency	Stalybridge and Hyde
tabling member printed	Jonathan Reynolds
uin	262
answer	answer is ministerial correction date of answer 21/10/2019 answer text <p>The Government is determined to leave the EU with a deal. We are committed to an ambitious, broad, deep and flexible economic partnership, based on a best in class Free Trade Agreement. This is the best way to maintain and enhance our position as an open, global leader in financial services after we leave the EU.</p><p> </p><p>The UK is committed to a relationship based on an expanded and improved approach to equivalence. That is the best short and long-term solution for markets, firms and investors in both the UK and the EU. Such a relationship respects the autonomy of each Party over judgements about access to their market and over legislation.</p> answering member constituency Salisbury answering member printed John Glen question first answered 21/10/2019 14:34:57 answering member 4051 label Biography information for John Glen
tabling member	4119 label Biography information for Jonathan Reynolds