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455220

registered interest
date	25/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Treasury: UK Membership of EU
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to the Prime Minister's Oral Statement of 22 February 2016, Official Report, column 35, on the European Council, whether his Department is undertaking planning in the eventuality of a majority leave vote in the EU referendum.
tabling member constituency	Clacton
tabling member printed	Mr Douglas Carswell
uin	28504
answer	answer is ministerial correction date of answer 03/03/2016 answer text <p><strong>At the February European Council, the Government negotiated a new settlement, giving the United Kingdom a special status in a reformed European Union. The Government's position, as set out by the Prime Minister to the House on 22 February, is that the UK will be stronger, safer and better off remaining in a reformed EU.</strong></p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 03/03/2016 17:13:45 answering member 1529 label Biography information for Mr David Gauke
tabling member	1527 label Biography information for Mr Douglas Carswell

450183

registered interest
date	03/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Accountancy
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what discussions his Department had with the International Accounting Standards Board on the effect of conversion to IFRS accounting standards for financial services companies on leverage ratios for those companies.
tabling member constituency	Clacton
tabling member printed	Mr Douglas Carswell
uin	25583
answer	answer is ministerial correction date of answer 08/02/2016 answer text <p>In the UK, listed companies have been required to use International Financial Reporting Standards (IFRS) since 2005. Banks who are not required to use IFRS are able to choose between using IFRS or using UK Generally Accepted Accounting Principles.</p><p> </p><p>This Government has not had any discussions with the International Accounting Standards Board around the effect of companies being required to convert to IFRS, though continues to engage with that body and all others involved in setting standards for the financial services sector.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 08/02/2016 16:29:03 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1527 label Biography information for Mr Douglas Carswell

449765

registered interest
date	02/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Islam
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many buildings in London are part of his Department's sukuk bond scheme.
tabling member constituency	Clacton
tabling member printed	Mr Douglas Carswell
uin	25405
answer	answer is ministerial correction date of answer 12/02/2016 answer text <p>In the Sukuk structure, rental payments provide the income for investors. When the Sovereign Sukuk were issued in July 2014 the profit rate was set at 2.036% in line with the yield on gilts of similar maturity, making the investor return on the Sukuk broadly equivalent to that on conventional gilts of similar maturity.</p><p> </p><p>Three central government properties form the underlying assets which underpin the Sukuk.</p><p> </p><p>The Government was clear at the time of issuance that the Sukuk issuance was not for debt financing purposes. Instead, it was issued to deliver on the government’s commitment to become the western hub for Islamic finance. The issuance showed that the UK is open for business with all parts of the world and provided high quality capital to UK-based Islamic banks.</p><p> </p><p>UK based institutions that offer Islamic finance services are contributing to jobs and growth with assets totalling $4.5bn at the end of 2014.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 25403 25555 question first answered 12/02/2016 13:55:38 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1527 label Biography information for Mr Douglas Carswell

449766

registered interest
date	02/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Islam
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, whether the rental income generated for investors in his Department's sukuk bond scheme is equivalent to that of the coupon paid from a June 2014 Government five-year gilt.
tabling member constituency	Clacton
tabling member printed	Mr Douglas Carswell
uin	25403
answer	answer is ministerial correction date of answer 12/02/2016 answer text <p>In the Sukuk structure, rental payments provide the income for investors. When the Sovereign Sukuk were issued in July 2014 the profit rate was set at 2.036% in line with the yield on gilts of similar maturity, making the investor return on the Sukuk broadly equivalent to that on conventional gilts of similar maturity.</p><p> </p><p>Three central government properties form the underlying assets which underpin the Sukuk.</p><p> </p><p>The Government was clear at the time of issuance that the Sukuk issuance was not for debt financing purposes. Instead, it was issued to deliver on the government’s commitment to become the western hub for Islamic finance. The issuance showed that the UK is open for business with all parts of the world and provided high quality capital to UK-based Islamic banks.</p><p> </p><p>UK based institutions that offer Islamic finance services are contributing to jobs and growth with assets totalling $4.5bn at the end of 2014.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 25405 25555 question first answered 12/02/2016 13:55:38 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1527 label Biography information for Mr Douglas Carswell

449932

registered interest
date	02/02/2016
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Services: Islam
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment his Department made of the merits of other potential methods of debt insurance before authorising use of government buildings in London as security for the sukuk bonds.
tabling member constituency	Clacton
tabling member printed	Mr Douglas Carswell
uin	25555
answer	answer is ministerial correction date of answer 12/02/2016 answer text <p>In the Sukuk structure, rental payments provide the income for investors. When the Sovereign Sukuk were issued in July 2014 the profit rate was set at 2.036% in line with the yield on gilts of similar maturity, making the investor return on the Sukuk broadly equivalent to that on conventional gilts of similar maturity.</p><p> </p><p>Three central government properties form the underlying assets which underpin the Sukuk.</p><p> </p><p>The Government was clear at the time of issuance that the Sukuk issuance was not for debt financing purposes. Instead, it was issued to deliver on the government’s commitment to become the western hub for Islamic finance. The issuance showed that the UK is open for business with all parts of the world and provided high quality capital to UK-based Islamic banks.</p><p> </p><p>UK based institutions that offer Islamic finance services are contributing to jobs and growth with assets totalling $4.5bn at the end of 2014.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 25403 25405 question first answered 12/02/2016 13:55:39 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1527 label Biography information for Mr Douglas Carswell