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994586

registered interest
date	25/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Annuities
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to amend the trivial commutation and small pots rules to enable more people to access their annuities as a lump sum.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	183913
answer	answer is ministerial correction date of answer 31/10/2018 answer text <p>The small pots and trivial commutation rules are permissive sets of tax rules which pre-date the pension freedoms reforms introduced in 2015. The rules may allow an individual to access their pension as a lump sum if they are at least 55 years old, or retiring at an earlier age because of ill-health, and the value of the payment does not exceed £10,000 for small pots, or £30,000 for trivial commutation. The rules limit what arrangements can be accessed in this way.</p><p> </p><p>As the regulations are permissive, there is no obligation on providers to offer small pot lump sums to consumers. The Government has no plans at present to amend existing legislation to require insurers to commute annuities in payment.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 183914 question first answered 31/10/2018 10:39:56 answering member 4051 label Biography information for John Glen
tabling member	3928 label Biography information for Nick Smith

994587

registered interest
date	25/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Annuities
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 potential merits of amending the trivial commutation and small pots rules to require insurers to commute annuities into lump sum payments for consumers; and if he will make a statement.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	183914
answer	answer is ministerial correction date of answer 31/10/2018 answer text <p>The small pots and trivial commutation rules are permissive sets of tax rules which pre-date the pension freedoms reforms introduced in 2015. The rules may allow an individual to access their pension as a lump sum if they are at least 55 years old, or retiring at an earlier age because of ill-health, and the value of the payment does not exceed £10,000 for small pots, or £30,000 for trivial commutation. The rules limit what arrangements can be accessed in this way.</p><p> </p><p>As the regulations are permissive, there is no obligation on providers to offer small pot lump sums to consumers. The Government has no plans at present to amend existing legislation to require insurers to commute annuities in payment.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 183913 question first answered 31/10/2018 10:39:56 answering member 4051 label Biography information for John Glen
tabling member	3928 label Biography information for Nick Smith

983298

registered interest
date	08/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	EU Grants and Loans: Wales
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether it is his policy to replicate the Structural Fund payments to Wales after the UK leaves the EU.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	176202
answer	answer is ministerial correction date of answer 12/10/2018 answer text <p>Under the draft Withdrawal Agreement, the UK will continue to participate in all 2014-2020 EU programmes until they close. In the unlikely event this agreement is not ratified, the government’s guarantee for EU-funded programmes will instead apply.</p><p> </p><p>In the longer term the government has committed to create a UK Shared Prosperity Fund, which we intend to consult on later this year. Following this consultation, decisions on future funding will be taken in the round at the 2019 Spending Review.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 12/10/2018 10:34:29 answering member 4097 label Biography information for Elizabeth Truss
tabling member	3928 label Biography information for Nick Smith

386968

registered interest
date	01/07/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Greece
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, pursuant to his contribution of 29 June 2015, Official Report, column 1221, on Greece, how many UK citizens resident in (a) the UK and (b) Greece hold accounts with Greek banks.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	5140
answer	answer is ministerial correction date of answer 07/07/2015 answer text <p>The Chancellor of the Exchequer set out the position in relation to British residents in Greece, as part of his statement to House on 29 June.</p><p> </p><p> </p><p> </p><p>The Chancellor updated the House on the situation in Greece on 6 July.</p><p> </p><p> </p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 07/07/2015 14:35:50 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	3928 label Biography information for Nick Smith

175839

registered interest
date	21/01/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Welfare Tax Credits
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what proportion of recipients of tax credits are in employment.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	907257
answer	answer is ministerial correction date of answer 27/01/2015 answer text <p>I refer the hon. Member to the Exchequer Secretary’s earlier response to Question 14.</p><p><a href="http://www.publications.parliament.uk/pa/cm201415/cmhansrd/cm150127/debtext/150127-0001.htm#15012737000002" target="_blank">http://www.publications.parliament.uk/pa/cm201415/cmhansrd/cm150127/debtext/150127-0001.htm#15012737000002</a></p><p> </p> answering member constituency Witham answering member printed Priti Patel question first answered 27/01/2015 15:54:50 answering member 4066 label Biography information for Priti Patel
tabling member	3928 label Biography information for Nick Smith