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1714515

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit Unions
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 implications for his policies of the reduction in numbers of credit unions.
tabling member constituency	Ellesmere Port and Neston
tabling member printed	Justin Madders
uin	24061
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>The Government is a strong supporter of credit unions, recognising the vital role they play in local communities throughout the country.</p><p> </p><p>Through the Financial Services and Markets Act 2023, the Government allowed credit unions in Great Britain to offer a wider range of products and services, diversifying their income streams and enhancing their role in financial inclusion.</p><p> </p><p>According to the latest data from the PRA, credit union membership in Great Britain has increased for the fifth consecutive quarter, reaching a record level of over 1.5 million. Their total assets have also increased to over £2.67 billion.</p><p> </p><p>The Government continues to engage with the credit union sector to assess how they can best be supported moving forward.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 08/05/2024 14:53:31 answering member 4639 label Biography information for Bim Afolami
tabling member	4418 label Biography information for Justin Madders

1714523

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Defence: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the Prime Minister’s speech in Warsaw on 23 April 2024, whether his Department has (a) conducted an assessment of costings and (b) developed proposals for how to fund the commitment to spend 2.5% of gross domestic product on defence by 2030.
tabling member constituency	Wentworth and Dearne
tabling member printed	John Healey
uin	23982
answer	answer is ministerial correction date of answer 02/05/2024 answer text <p>We have made a commitment to steadily increase defence spending, reaching 2.5% of GDP in 2030. We have also set out how we are fully funding this increase in defence spending.</p><p> </p> answering member constituency Sevenoaks answering member printed Laura Trott grouped question UIN 23991 question first answered 02/05/2024 14:39:02 answering member 4780 label Biography information for Laura Trott
tabling member	400 label Biography information for John Healey

1714609

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
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 fiscal impact of a potential digital pound by way of increased seigniorage revenue.
tabling member constituency	East Kilbride, Strathaven and Lesmahagow
tabling member printed	Dr Lisa Cameron
uin	24058
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>No decision has yet been made to issue a digital pound. HM Treasury and the Bank of England continue to explore the feasibility and potential design choices of a digital pound as part of the current design phase. The exploration of a digital pound considers the future of central bank money, meaning that this project supports the Bank of England’s primary objectives on monetary and financial stability.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 24059 question first answered 08/05/2024 14:59:54 answering member 4639 label Biography information for Bim Afolami
tabling member	4412 label Biography information for Dr Lisa Cameron

1714611

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK-EU Trade and Cooperation Agreement
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 25 April (HL3766), when they sought permission from the EU to extend the sunset clause for enterprise investment schemes and venture capital trust schemes.
tabling member printed	Lord Leigh of Hurley
uin	HL4157
answer	answer is ministerial correction date of answer 14/05/2024 answer text <p>The government’s engagement with the EU Commission on the extension of the Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) sunset clauses is ongoing.</p><p> </p><p>The government believes the schemes continue to be consistent with subsidy control principles and address an evidenced market failure.</p> answering member printed Baroness Vere of Norbiton question first answered 14/05/2024 10:56:24 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4295 label Biography information for Lord Leigh of Hurley

1714613

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
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 potential merits of using a potential digital pound for its own disbursements and cash management.
tabling member constituency	East Kilbride, Strathaven and Lesmahagow
tabling member printed	Dr Lisa Cameron
uin	24059
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>No decision has yet been made to issue a digital pound. HM Treasury and the Bank of England continue to explore the feasibility and potential design choices of a digital pound as part of the current design phase. The exploration of a digital pound considers the future of central bank money, meaning that this project supports the Bank of England’s primary objectives on monetary and financial stability.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 24058 question first answered 08/05/2024 14:59:55 answering member 4639 label Biography information for Bim Afolami
tabling member	4412 label Biography information for Dr Lisa Cameron

1714630

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Islam
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the disparities between conventional and Sharia-compliant mortgage products in respect of the imposition of capital gains tax.
tabling member printed	Lord Sharkey
uin	HL4179
answer	answer is ministerial correction date of answer 13/05/2024 answer text <p>The government is aware of a difference in tax treatment when a commercial or residential property is refinanced using alternative rather than conventional finance methods. In these situations, a capital gains liability may arise for those using alternative financing, when this would not have been the case for those using conventional financing. The refinancing of main homes is unaffected as Private Residence Relief (PRR) applies.</p><p> </p><p>On 16 January 2024, the government published the <em>Tax Simplification for Alternative Finance </em>consultation to seek views on reforms that would address the capital gains issue. The consultation closed on 9 April 2024 and all responses will be carefully considered and a summary of responses will be published in due course together with details of the next steps.</p> answering member printed Baroness Vere of Norbiton question first answered 13/05/2024 15:52:40 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4196 label Biography information for Lord Sharkey

1714636

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tobacco: Smuggling
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps his Department is taking with local authorities to help tackle the illicit tobacco trade.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	24094
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>In January 2021 HMRC and National Trading Standards launched Operation CeCe. This joint initiative builds on decades of partnership working with local Trading Standards Officers.</p><p> </p><p>This supports them to undertake enforcement activity including the sharing of information and intelligence to target and seize illegal tobacco, disruption of the illicit tobacco market and prevention of fraud in their area. In its first two years of operation more than 28 million cigarettes and nearly 8 tonnes of illicit hand rolling-tobacco were seized.</p><p> </p><p>In January this year, HMRC published a new Illicit Tobacco Strategy ‘Stubbing out the problem’. The Strategy sets out how HMRC intends to build on the success of Operation CeCe by increasing the level of funding available to Trading Standards so that it can have an even greater impact in tackling the illicit tobacco trade.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 08/05/2024 10:28:34 answering member 4850 label Biography information for Gareth Davies
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1714638

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Block Grant: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government by how much, and by what percentage, (1) resource funding, and (2) capital funding for the Northern Ireland Block Grant has increased from 2023–2024 to 2024–2025.
tabling member printed	Lord Weir of Ballyholme
uin	HL4192
answer	answer is ministerial correction date of answer 14/05/2024 answer text <p>To accurately compare the Northern Ireland Executive's (NIE’s) funding between years, it is important to compare the same point in the financial year.</p><p> </p><p>The most comparable figures are the 2021 Spending Review settlement for the NIE, which can be found in Table 4.19 here: <a href="https://assets.publishing.service.gov.uk/media/61c495ebe90e07196d2b8383/Budget_AB2021_Print.pdf" target="_blank">https://assets.publishing.service.gov.uk/media/61c495ebe90e07196d2b8383/Budget_AB2021_Print.pdf</a></p><p> </p><p>The (NIE) receives in-year funding through the operation of the Barnett Formula and non-Barnett funding provided at fiscal events and Main and Supplementary Estimates.</p> answering member printed Baroness Vere of Norbiton question first answered 14/05/2024 15:05:09 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4970 label Biography information for Lord Weir of Ballyholme

1714640

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Block Grant: Northern Ireland
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of whether the resource funding provided in the Northern Ireland Block Grant for 2024–2025 falls below a needs-based assessment of funding.
tabling member printed	Lord Weir of Ballyholme
uin	HL4193
answer	answer is ministerial correction date of answer 14/05/2024 answer text <p>As committed to in the 2024 Northern Ireland Executive restoration financial package, the UK Government will also agree a Fiscal Framework with the Northern Ireland Executive which will outline Northern Ireland’s long-term funding arrangements.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 14/05/2024 14:05:38 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	4970 label Biography information for Lord Weir of Ballyholme

1714656

registered interest
date	29/04/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	NatWest: Shares
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 December 2023 to Question 5600 on Natwest: Shares, whether his Department has appointed advisers to review the potential merits of a NatWest retail share offer.
tabling member constituency	North West Norfolk
tabling member printed	James Wild
uin	24152
answer	answer is ministerial correction date of answer 08/05/2024 answer text <p>The government has appointed a number of advisers to support the government’s assessment of options for a retail offer, including firms specialising in market research, financial services, legal advice and marketing.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 08/05/2024 15:02:46 answering member 4639 label Biography information for Bim Afolami
tabling member	4787 label Biography information for James Wild