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1105346

registered interest
date	26/03/2019
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, with reference to Mortgage customers: proposed changes to responsible lending rules and guidance CP19/14 published by the Financial Conduct Authority on 26 March 2019, what estimate his Department has made of the number of mortgage customers currently unable to switch their mortgage product who will not be able to benefit from modified affordability assessment proposals.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	237207
answer	answer is ministerial correction date of answer 01/04/2019 answer text <p>HM Treasury welcome the FCA’s announcement that it intends to change its mortgage lending rules to move to a relative affordability assessment for customers seeking to switch to a cheaper mortgage without borrowing more. We have worked closely with the FCA in the lead up to the publication of their Consultation Paper.</p><p> </p><p>The Economic Secretary and Andrew Bailey, the FCA’s Chief Executive, wrote to the Treasury Select Committee in response to questioning on who might be helped by the FCA’s proposed changes.</p><p> </p><p>Copies of these letters can be found here:</p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Chair-re-mortgage-prisoners-300119.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Chair-re-mortgage-prisoners-300119.pdf</a></p><p> </p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/Chief-Exec-of-FCA-to-Chair-re-mortgage-prisoners-150219.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/Chief-Exec-of-FCA-to-Chair-re-mortgage-prisoners-150219.pdf</a></p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 237209 question first answered 01/04/2019 14:27:30 answering member 4051 label Biography information for John Glen
tabling member	4253 label Biography information for Seema Malhotra

1105348

registered interest
date	26/03/2019
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 he has had with the Financial Conduct Authority on the development of the cost benefit analysis used to assess the potential impact of the its proposals in Mortgage customers: proposed changes to responsible lending rules and guidance CP19/14 published on 26 March 2019.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	237209
answer	answer is ministerial correction date of answer 01/04/2019 answer text <p>HM Treasury welcome the FCA’s announcement that it intends to change its mortgage lending rules to move to a relative affordability assessment for customers seeking to switch to a cheaper mortgage without borrowing more. We have worked closely with the FCA in the lead up to the publication of their Consultation Paper.</p><p> </p><p>The Economic Secretary and Andrew Bailey, the FCA’s Chief Executive, wrote to the Treasury Select Committee in response to questioning on who might be helped by the FCA’s proposed changes.</p><p> </p><p>Copies of these letters can be found here:</p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Chair-re-mortgage-prisoners-300119.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Chair-re-mortgage-prisoners-300119.pdf</a></p><p> </p><p><a href="https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/Chief-Exec-of-FCA-to-Chair-re-mortgage-prisoners-150219.pdf" target="_blank">https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/Chief-Exec-of-FCA-to-Chair-re-mortgage-prisoners-150219.pdf</a></p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 237207 question first answered 01/04/2019 14:27:30 answering member 4051 label Biography information for John Glen
tabling member	4253 label Biography information for Seema Malhotra

1105349

registered interest
date	26/03/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to correspondence from the Economic Secretary to the Treasury to the Chair of the Treasury Committee on 30 January 2019 on how the Standard Variable Rate will be set; what the identity is of the regulatory active lenders in the mechanism referred to on page 3; what the current level of Standard Variable Rate being charged by those lenders is; and what formula was used by UK Asset Resolution to link its Standard Variable Rate to the rate charged by those lenders.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	237210
answer	answer is ministerial correction date of answer 01/04/2019 answer text <p>NRAM Limited (NRAM) and Bradford &amp; Bingley plc (B&amp;B) set their Standard Variable Rates (SVR) by reference to the SVRs of the top fifteen UK mortgage providers. Currently these fifteen lenders collectively hold c.90% of the outstanding mortgage balances of members of UK Finance, the industry's trade body. This ensures that NRAM’s and B&amp;B’s SVRs are in line with other variable rates available in the market.</p><p> </p><p>The ranking of lenders by value of mortgages outstanding is available from UK Finance’s website at <a href="http://www.ukfinance.org.uk/" target="_blank">www.ukfinance.org.uk</a>, and the SVRs currently offered by lenders are also publicly available on their respective websites.</p> answering member constituency Salisbury answering member printed John Glen question first answered 01/04/2019 14:28:41 answering member 4051 label Biography information for John Glen
tabling member	4253 label Biography information for Seema Malhotra

1037884

registered interest
date	08/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Electric Vehicles: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what tax incentives are in place to support the development and take-up of electric vehicles.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	206369
answer	answer is ministerial correction date of answer 14/01/2019 answer text <p>The government uses the tax system to encourage the development and take-up of cars with low carbon dioxide (CO<sub>2</sub>) emissions to meet our legally binding CO<sub>2</sub> targets and our ambition for the majority of all new cars and vans sold to be 100% zero emission by 2040.</p><p> </p><p>Zero emission cars attract favourable rates of both Vehicle Excise Duty (VED) and company car tax. For example, on first registration, a zero-emission car is not liable to pay any VED, whilst the most polluting models attract a VED rate of over £2,000.</p><p> </p><p>The government has also recently responded to the consultation on reforming the VED system for vans. This confirmed that from April 2021 zero and ultra low emission vans will receive a significant VED discount compared to conventionally fuelled alternatives.</p><p><strong> </strong></p> answering member constituency Newark answering member printed Robert Jenrick question first answered 14/01/2019 10:51:11 answering member 4320 label Biography information for Robert Jenrick
tabling member	4253 label Biography information for Seema Malhotra

984891

registered interest
date	10/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Treasury: Brexit
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to publish his Department's preparations for no deal.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	177702
answer	answer is ministerial correction date of answer 15/10/2018 answer text <p>We firmly believe it is in the interests of both the EU and the UK to strike a deal. That remains the goal on both sides and we are confident that this will be achieved. But it is the job of a responsible Government to prepare for all scenarios, so we have already carried out very significant ‘no deal’ preparations for the unlikely event that we reach March 2019 without agreeing a deal.</p><p> </p><p>We have already published over 100 technical notices so that businesses and citizens have time to prepare in the event of a 'no deal' scenario. These include notices outlining HMT and HMRC’s preparations on:</p><ul><li><p>Banking, insurance and other financial services</p></li><li><p>VAT for businesses</p></li><li><p>The Government’s guarantee for EU-funded programmes</p></li><li><p>Trading with the EU</p></li><li><p>Classifying your goods in the UK Trade Tariff</p><p> </p><p>These are available on gov.uk in a centralised location that is easy for people to access and use.</p><p> </p></li></ul> answering member constituency Salisbury answering member printed John Glen question first answered 15/10/2018 16:40:02 answering member 4051 label Biography information for John Glen
tabling member	4253 label Biography information for Seema Malhotra

984893

registered interest
date	10/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Treasury: Staff
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what change there has been in staffing levels in his Department since June 2016.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	177703
answer	answer is ministerial correction date of answer 19/10/2018 answer text <p>Between June 2016 and June 2018, the headcount at HM Treasury increased by 140. The headcount is published quarterly by the ONS via this link: <a href="https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorpersonnel/datasets/publicsectoremploymentreferencetable" target="_blank">https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/publicsectorpersonnel/datasets/publicsectoremploymentreferencetable</a></p> answering member constituency Newark answering member printed Robert Jenrick question first answered 19/10/2018 10:27:26 answering member 4320 label Biography information for Robert Jenrick
tabling member	4253 label Biography information for Seema Malhotra

984592

registered interest
date	09/10/2018
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 estimate he has made of the number of people that do not have a bank account in each of the last three years in (a) the UK and (b) Feltham and Heston constituency.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	177328
answer	answer is ministerial correction date of answer 15/10/2018 answer text <p>The Treasury does not make assessments of the number of people who do not have a bank account.</p><p> </p><p>However, in 2017, the Financial Conduct Authority published the results of the Financial Lives Survey which found that 1.3 million UK adults were unbanked, i.e. have no current account or alternative e-money account.</p><p> </p><p>The Financial Lives Survey report (https://www.fca.org.uk/publications/research/understanding-financial-lives-uk-adults) contains further information on the characteristics of the unbanked and their preferences to have a bank account. The report analyses survey results across the four nations of the UK, the nine regions of England, and by rural and urban areas. The FCA intend to repeat the Financial Lives Survey on a regular basis in future.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 15/10/2018 15:19:06 answering member 4051 label Biography information for John Glen
tabling member	4253 label Biography information for Seema Malhotra

984593

registered interest
date	09/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimates he has made of the number of people that took out a high-cost loan in each of the last three years in (a) the UK and (b) Feltham and Heston constituency.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	177329
answer	answer is ministerial correction date of answer 15/10/2018 answer text <p>On 1 April 2014, regulation of the consumer credit market, including high-cost lenders, was transferred to the Financial Conduct Authority (FCA).</p><p> </p><p>We have passed the Honourable Lady’s questions on to the FCA, who will reply directly by letter. A copy of the letter will be placed in the Library of the House.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/10/2018 15:20:49 answering member 4051 label Biography information for John Glen
tabling member	4253 label Biography information for Seema Malhotra

892383

registered interest
date	26/04/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Customs Unions
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the economic effect of leaving the Customs Union on trade in goods and services in each region and nation of the UK.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	138460
answer	answer is ministerial correction date of answer 01/05/2018 answer text <p>The Government is undertaking a wide range of ongoing analysis, across a range of scenarios on a sector by sector basis, in support of our EU exit negotiations and preparations. However, this analysis is sensitive in the context of negotiations with the EU.</p><p> </p><p>Ministers have a specific responsibility, which Parliament has endorsed, not to release information that would undermine our negotiating position.</p><p> </p><p>The Government has confirmed that when we bring forward the vote on the final deal, we will ensure that Parliament is presented with the appropriate analysis to make an informed decision.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/05/2018 15:12:06 answering member 3935 label Biography information for Mel Stride
tabling member	4253 label Biography information for Seema Malhotra

890316

registered interest
date	24/04/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Trade with EU
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether he has modelled the effect on the UK economy of the Government's planned trading partnership with the EU.
tabling member constituency	Feltham and Heston
tabling member printed	Seema Malhotra
uin	137565
answer	answer is ministerial correction date of answer 02/05/2018 answer text <p>The Government is undertaking a wide range of analysis and preparatory work to support our EU exit negotiations and preparations. However, it is not standard practice to provide an ongoing commentary on internal analysis.</p><p> </p><p>Ministers have a specific responsibility, which Parliament has endorsed, not to release information that would undermine our negotiating position.</p><p> </p><p>We have committed to providing Parliament with appropriate analysis ahead of the final vote on the deal. That will be the right time to present the work. It will allow Parliament to scrutinise an appropriate analysis of the options, based on the most accurate assessment we can make.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 02/05/2018 14:55:39 answering member 4051 label Biography information for John Glen
tabling member	4253 label Biography information for Seema Malhotra