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1681637

registered interest
date	11/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cars: Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with the FCA on the prevalence of overcharging for car finance loans before 2021.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	9255
answer	answer is ministerial correction date of answer 16/01/2024 answer text <p>The government is working closely with the FCA, the FOS, and the motor finance industry to monitor the potential impact of complaints made about motor finance commission practices.</p><p> </p><p>The FCA has confirmed that it will be taking steps to investigate historic practice in the motor finance sector.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 16/01/2024 14:05:53 answering member 4639 label Biography information for Bim Afolami
tabling member	4518 label Biography information for Tulip Siddiq

1679530

registered interest
date	05/01/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Electronic Government: VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate his Department has made of the number of people affected by the IT issue which led to valid VAT registration numbers not being visible on the VAT Checker service.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	8056
answer	answer is ministerial correction date of answer 11/01/2024 answer text <p>This issue was specific to a small number of new VAT registrations not displaying on the GOV.UK service.</p><p> </p><p>HMRC implemented a fix on 17 May 2023 to prevent any further problems with new VAT registrations.</p><p> </p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 11/01/2024 17:02:26 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4518 label Biography information for Tulip Siddiq

1666094

registered interest
date	19/10/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Electronic Funds Transfer: Hacking
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 (a) likelihood and (b) impact on the banking sector of a payments system being hacked by a hostile actor; and what contingency plans his Department has put in place for this.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	203552
answer	answer is ministerial correction date of answer 24/10/2023 answer text In fulfilling its role as lead government department for the finance sector, HMT assesses a range of risks that might have an impact on the functioning of the sector. The department has published several risks in the <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1175834/2023_NATIONAL_RISK_REGISTER_NRR.pdf" target="_blank">2023 National Risk Register</a>. answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 24/10/2023 15:11:19 answering member 4874 label Biography information for Andrew Griffith
tabling member	4518 label Biography information for Tulip Siddiq

1661904

registered interest
date	19/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Disclosure of Information
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when he plans to bring forward legislation to implement the sustainability disclosure requirements regime.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	200425
answer	answer is ministerial correction date of answer 16/10/2023 answer text <p>Sustainability Disclosure Requirements (SDR) is a framework to facilitate and simplify the flow of robust, decision useful information between corporates, consumers, investors, and capital markets.</p><p> </p><p><em>Mobilising Green Investment: 2023 Green Finance Strategy </em>contains the plans of both the Government and the regulators to take SDR forward, building on global best practice and leading standards. This includes the Government's plans to establish an endorsement process that will assess the suitability of standards issued by the International Sustainability Standards Board (ISSB) for use by UK companies.</p><p> </p><p>The UK has already implemented mandatory Taskforce for Climate-related Financial Disclosures (TCFD) requirements across the economy, and the Financial Conduct Authority is taking forward further Sustainability Disclosure Requirements for authorised financial services firms and listed companies under their existing powers.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 16/10/2023 09:17:59 answering member 4874 label Biography information for Andrew Griffith
tabling member	4518 label Biography information for Tulip Siddiq

1658556

registered interest
date	06/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Vulnerable Adults
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 to ensure that vulnerable individuals have access to (a) financial advice and (b) support with essential banking services.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	198104
answer	answer is ministerial correction date of answer 12/09/2023 answer text <p>The Government seeks to ensure that everyone can access useful support with their finances, including those in vulnerable circumstances. As part of this, the Government established the Money and Pensions Service (MaPS) to provide people with comprehensive, consistent, guidance for each stage of their financial lives. MaPS offers resources to support consumers with a range of issues, including everyday money, benefits, financial difficulty, pensions and retirement, savings, and work.</p><p> </p><p>Building on its consumer vulnerability work, the Financial Conduct Authority (FCA) has also introduced the Consumer Duty which raises the standard expected from firms for all customers.</p><p> </p><p>HM Treasury and the FCA are also working on a joint review of the regulatory boundary between financial advice and guidance with the aim of improving the support available to consumers with their financial decision-making.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 12/09/2023 10:36:17 answering member 4874 label Biography information for Andrew Griffith
tabling member	4518 label Biography information for Tulip Siddiq

1658557

registered interest
date	06/09/2023
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 information his Department holds on the locations of shared banking hubs that will be set up in the future; and if he will make an assessment of the potential merits of establishing shared banking hubs in post office branches.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	198105
answer	answer is ministerial correction date of answer 12/09/2023 answer text <p>Treasury Ministers and officials regularly meet with the Financial Conduct Authority (FCA) to discuss a variety of policy matters</p><p> </p><p>The government believes that all customers, wherever they live, should have appropriate access to banking and cash services.</p><p> </p><p>Decisions on opening and closing branches are a commercial issue. However, the FCA’s guidance sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</p><p> </p><p>Alternative options for access to banking can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.</p><p> </p><p>New shared Banking Hubs are also being introduced, providing cash and basic banking services and dedicated space where community bankers from major banks can meet customers of that bank. Decisions regarding the operation and location of Banking Hubs are taken by the parties involved. Following successful pilots Cash Access UK Ltd is rolling out shared Banking Hubs and other new shared facilities in communities across the UK. To date, industry has committed to deliver Banking Hubs in 80 locations. Further information on Banking Hubs is available at: <a href="https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.cashaccess.co.uk%2F&amp;data=05%7C01%7CLewis.Walker%40hmtreasury.gov.uk%7C6e6cd2b8d31647d1cec408dbad65e2ca%7Ced1644c505e049e6bc39fcf7ac51c18c%7C0%7C0%7C638294425322042209%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=aJyyiQpYeG%2FGcSEdMMHI0KPKZUqykDGP2Vgs0VKgD9M%3D&amp;reserved=0" target="_blank">https://www.cashaccess.co.uk/</a></p><p> </p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 198106 question first answered 12/09/2023 10:33:20 answering member 4874 label Biography information for Andrew Griffith
tabling member	4518 label Biography information for Tulip Siddiq

1658558

registered interest
date	06/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services
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 Financial Conduct Authority on steps to help ensure local communities have access to essential in-person banking services.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	198106
answer	answer is ministerial correction date of answer 12/09/2023 answer text <p>Treasury Ministers and officials regularly meet with the Financial Conduct Authority (FCA) to discuss a variety of policy matters</p><p> </p><p>The government believes that all customers, wherever they live, should have appropriate access to banking and cash services.</p><p> </p><p>Decisions on opening and closing branches are a commercial issue. However, the FCA’s guidance sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</p><p> </p><p>Alternative options for access to banking can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.</p><p> </p><p>New shared Banking Hubs are also being introduced, providing cash and basic banking services and dedicated space where community bankers from major banks can meet customers of that bank. Decisions regarding the operation and location of Banking Hubs are taken by the parties involved. Following successful pilots Cash Access UK Ltd is rolling out shared Banking Hubs and other new shared facilities in communities across the UK. To date, industry has committed to deliver Banking Hubs in 80 locations. Further information on Banking Hubs is available at: <a href="https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.cashaccess.co.uk%2F&amp;data=05%7C01%7CLewis.Walker%40hmtreasury.gov.uk%7C6e6cd2b8d31647d1cec408dbad65e2ca%7Ced1644c505e049e6bc39fcf7ac51c18c%7C0%7C0%7C638294425322042209%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=aJyyiQpYeG%2FGcSEdMMHI0KPKZUqykDGP2Vgs0VKgD9M%3D&amp;reserved=0" target="_blank">https://www.cashaccess.co.uk/</a></p><p> </p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 198105 question first answered 12/09/2023 10:33:20 answering member 4874 label Biography information for Andrew Griffith
tabling member	4518 label Biography information for Tulip Siddiq

1658559

registered interest
date	06/09/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions she has had with (a) lenders and (b) other relevant stakeholders on the levels of early repayment charges for tracker mortgages.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	198107
answer	answer is ministerial correction date of answer 12/09/2023 answer text <p>HM Treasury is regularly in contact with mortgage lenders on all aspects of their mortgage business to understand their position and current lending conditions. However, the pricing of mortgages, including early repayment charges, is a commercial decision for lenders in which the Government does not intervene.</p><p> </p><p>Nevertheless, Financial Conduct Authority rules set out that lenders should not impose early repayment charges at a level that is more than a reasonable pre-estimate of the costs that would be incurred as a result of a loan being terminated early.</p><p> </p><p>Consumers should also be given adequate information about the existence of these charges in the pre-sale disclosure documents lenders are required to give them.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 12/09/2023 10:34:50 answering member 4874 label Biography information for Andrew Griffith
tabling member	4518 label Biography information for Tulip Siddiq

1657451

registered interest
date	01/09/2023
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 recent assessment he has made of the adequacy of shared banking hubs for meeting the needs of customers.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	197016
answer	answer is ministerial correction date of answer 11/09/2023 answer text <p>Banking Hubs are a commercial initiative provided by participating retail banks and building societies in partnership with the Post Office to support access to cash and banking services in communities.</p><p> </p><p>Banking Hubs offer basic counter services provided by Post Office staff, allowing people and businesses to withdraw and deposit cash, deposit cheques, pay bills and make balance enquiries. They also contain dedicated rooms where customers can see community bankers from their own bank or building society for more complicated matters that require specialist knowledge or privacy.</p><p> </p><p>Decisions regarding the deployment of Banking Hubs and the range of services provided are taken on a commercial basis by the parties involved. To date, industry has committed to deliver Banking Hubs in 80 locations. Further information on Banking Hubs is available at: <a href="https://www.cashaccess.co.uk/" target="_blank">https://www.cashaccess.co.uk/</a></p><p> </p><p>The Financial Services and Markets Act 2023 provides the Financial Conduct Authority (FCA) with responsibility and powers to seek to ensure reasonable provision of cash access services. The FCA is currently developing its approach and will consult in due course.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 197017 197018 197019 197020 197021 197022 question first answered 11/09/2023 10:37:48 answering member 4874 label Biography information for Andrew Griffith
tabling member	4518 label Biography information for Tulip Siddiq

1657452

registered interest
date	01/09/2023
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 information his Department holds on the number of services that are available through shared banking hubs.
tabling member constituency	Hampstead and Kilburn
tabling member printed	Tulip Siddiq
uin	197017
answer	answer is ministerial correction date of answer 11/09/2023 answer text <p>Banking Hubs are a commercial initiative provided by participating retail banks and building societies in partnership with the Post Office to support access to cash and banking services in communities.</p><p> </p><p>Banking Hubs offer basic counter services provided by Post Office staff, allowing people and businesses to withdraw and deposit cash, deposit cheques, pay bills and make balance enquiries. They also contain dedicated rooms where customers can see community bankers from their own bank or building society for more complicated matters that require specialist knowledge or privacy.</p><p> </p><p>Decisions regarding the deployment of Banking Hubs and the range of services provided are taken on a commercial basis by the parties involved. To date, industry has committed to deliver Banking Hubs in 80 locations. Further information on Banking Hubs is available at: <a href="https://www.cashaccess.co.uk/" target="_blank">https://www.cashaccess.co.uk/</a></p><p> </p><p>The Financial Services and Markets Act 2023 provides the Financial Conduct Authority (FCA) with responsibility and powers to seek to ensure reasonable provision of cash access services. The FCA is currently developing its approach and will consult in due course.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith grouped question UIN 197016 197018 197019 197020 197021 197022 question first answered 11/09/2023 10:37:48 answering member 4874 label Biography information for Andrew Griffith
tabling member	4518 label Biography information for Tulip Siddiq