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64151

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Reserve Forces: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the number of reserve servicemen who have been allocated the wrong tax code by HM Revenue and Customs as a result of their additional income accruing from military duties.
tabling member constituency	York Outer
tabling member printed	Julian Sturdy
uin	202559
answer	answer is ministerial correction date of answer 02/07/2014 answer text <p>The information requested is only available at a disproportionate cost.</p><p> </p><p> </p><p>HM Revenue &amp; Customs (HMRC) has processes in place to ensure that reservist service personnel called up for military service receive the full benefit of their personal income tax allowances whilst they are on active duty.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 02/07/2014 14:48:59 answering member 1529 label Biography information for Mr David Gauke
tabling member	4079 label Biography information for Julian Sturdy

64152

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Banks: Pay
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what discussions his Department has had with the (a) Prudential Regulation Authority and (b) Financial Conduct Authority about reports of UK banks paying allowances to employees in order to avoid the EU's bonus cap; and what steps he plans to take to reduce such practices.
tabling member constituency	Bolton North East
tabling member printed	Mr David Crausby
uin	202634
answer	answer is ministerial correction date of answer 03/07/2014 answer text <p>The UK is at the forefront of global efforts to tackle excessive pay in the financial sector and ensure that pay is aligned with performance, with a tough Remuneration Code that requires deferral of at least 60% of bonuses of senior bankers and limits the amounts that can be paid in cash. Bonuses are down significantly since their peak under the last Government, and are now largely deferred and paid in shares.</p><p> </p><p> </p><p>In contrast, the EU's bonus cap is a poorly thought through measure that undermines rather than reinforces our efforts by pushing up fixed pay. It was introduced without any proper impact assessment and has issues around its compatibility with the EU Treaty; for these reasons we are challenging it in the European Court of Justice. However, pending the outcome, the Government is fully implementing the cap in the UK, and the Prudential Regulation Authority is responsible for ensuring that the banks comply with these rules.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 03/07/2014 15:39:53 answering member 4117 label Biography information for Andrea Leadsom
tabling member	437 label Biography information for Sir David Crausby

64153

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Employment
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if his Department will estimate the additional receipts accruing to the Exchequer as a result of changes in levels of employment since May 2010.
tabling member constituency	Harrogate and Knaresborough
tabling member printed	Andrew Jones
uin	202645
answer	answer is ministerial correction date of answer 01/07/2014 answer text <p>The information requested is not available.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 01/07/2014 15:03:55 answering member 1529 label Biography information for Mr David Gauke
tabling member	3996 label Biography information for Andrew Jones

64154

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Personal Savings
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will meet representatives of financial institutions to discuss how those institutions can assist customers to get the best return on their savings.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	202658
answer	answer is ministerial correction date of answer 02/07/2014 answer text <p>Treasury Ministers have discussions with a wide variety of organisations in the public and private sectors. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:</p><p>www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</p><p> </p><p>It is important that customers can make the most of their savings. This is why at Budget 2014 we announced a radical package of measures to support savers – reducing taxes for the lowest income savers, reforming the ISA regime to give savers greater flexibility as to where and how they save their money, and creating a product to help retired savers see a better return.</p><p> </p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 02/07/2014 16:45:13 answering member 4117 label Biography information for Andrea Leadsom
tabling member	1409 label Biography information for Mr Gregory Campbell

64155

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Corporation Tax: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how much corporation tax was raised by HM Treasury in Northern Ireland in the last full financial year.
tabling member constituency	Bury South
tabling member printed	Mr Ivan Lewis
uin	202564
answer	answer is ministerial correction date of answer 07/07/2014 answer text <p>The most recent available estimate of Corporation Tax receipts in respect of Northern Ireland relates to financial year 2012-13. This estimate was published by HM Revenue &amp; Customs (HMRC) in ‘A Disaggregation of HMRC Tax Receipts between England, Wales, Scotland &amp; Northern Ireland'. A link to the publication is provided below:</p><p><a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/285765/disagg-info.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/285765/disagg-info.pdf</a></p><p> </p><p> </p><p>For 2012-13 the estimated portion of onshore UK Corporation Tax receipts relating to Northern Ireland was £476m. Estimates of offshore Corporation Tax receipts relating to Northern Ireland are available as produced by two methods: a geographic basis and a population based apportionment. The estimates for 2012-13 are nil and £137m respectively.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 07/07/2014 15:04:47 answering member 1529 label Biography information for Mr David Gauke
tabling member	441 label Biography information for Mr Ivan Lewis

64272

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Conduct Authority
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, which powers and responsibilities the Financial Conduct Authority has not inherited from the Office of Fair Trading; and which financial regulatory body has inherited each such power and responsibility.
tabling member constituency	Newport West
tabling member printed	Paul Flynn
uin	202724
answer	answer is ministerial correction date of answer 03/07/2014 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market. The transfer of regulatory responsibility for consumer credit from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) took effect in April. The FCA has stronger powers and is far better equipped to protect consumers than the OFT.</p><p> </p><p>Wonga has voluntarily agreed to pay compensation totaling more than £2.6m to around 45,000 customers in relation to unfair debt collection practices between 2008 and 2010. The requirement agreed by Wonga is available at <a href="http://www.fca.org.uk/your-fca/documents/requirement-notices/wonga-group-limited-vreq" target="_blank">http://www.fca.org.uk/your-fca/documents/requirement-notices/wonga-group-limited-vreq</a>. Had Wonga not agreed, the FCA could have used its powers to impose requirements. Wonga will appoint a skilled person (as specified under section 166 of the Financial Services and Markets Act 2000) to ensure that affected customers receive appropriate compensation.</p><p> </p><p>More generally, the Government has ensured that the FCA has inherited the OFT's powers (both criminal and regulatory) in relation to misconduct which occurred before 1 April 2014, as well as considerably strengthening the FCA's powers in relation to misconduct which occurs under the new regulatory regime.</p><p> </p><p>The FCA has the same powers as the OFT had to investigate and prosecute offences under the Consumer Credit Act 1974.</p><p> </p><p> </p><p>The FCA has also inherited the OFT's power to fine, although the OFT's power to fine under the Consumer Credit Act was limited to fining a firm for breaches of a requirement imposed by the OFT (and the maximum penalty in this regard was £50,000). The Government has already strengthened the new regime by giving the FCA the ability to impose unlimited fines for breaches of regulatory requirements that take place after 1 April 2014.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 202688 202725 202726 question first answered 03/07/2014 15:49:59 answering member 4117 label Biography information for Andrea Leadsom
tabling member	545 label Biography information for Paul Flynn

64273

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Conduct Authority
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will review the scope of the consumer credit regulatory powers of the Financial Conduct Authority.
tabling member constituency	Newport West
tabling member printed	Paul Flynn
uin	202725
answer	answer is ministerial correction date of answer 03/07/2014 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market. The transfer of regulatory responsibility for consumer credit from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) took effect in April. The FCA has stronger powers and is far better equipped to protect consumers than the OFT.</p><p> </p><p>Wonga has voluntarily agreed to pay compensation totaling more than £2.6m to around 45,000 customers in relation to unfair debt collection practices between 2008 and 2010. The requirement agreed by Wonga is available at <a href="http://www.fca.org.uk/your-fca/documents/requirement-notices/wonga-group-limited-vreq" target="_blank">http://www.fca.org.uk/your-fca/documents/requirement-notices/wonga-group-limited-vreq</a>. Had Wonga not agreed, the FCA could have used its powers to impose requirements. Wonga will appoint a skilled person (as specified under section 166 of the Financial Services and Markets Act 2000) to ensure that affected customers receive appropriate compensation.</p><p> </p><p>More generally, the Government has ensured that the FCA has inherited the OFT's powers (both criminal and regulatory) in relation to misconduct which occurred before 1 April 2014, as well as considerably strengthening the FCA's powers in relation to misconduct which occurs under the new regulatory regime.</p><p> </p><p>The FCA has the same powers as the OFT had to investigate and prosecute offences under the Consumer Credit Act 1974.</p><p> </p><p> </p><p>The FCA has also inherited the OFT's power to fine, although the OFT's power to fine under the Consumer Credit Act was limited to fining a firm for breaches of a requirement imposed by the OFT (and the maximum penalty in this regard was £50,000). The Government has already strengthened the new regime by giving the FCA the ability to impose unlimited fines for breaches of regulatory requirements that take place after 1 April 2014.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 202688 202724 202726 question first answered 03/07/2014 15:49:59 answering member 4117 label Biography information for Andrea Leadsom
tabling member	545 label Biography information for Paul Flynn

64274

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Wonga
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what requirement will be placed on Wonga to track down the address of each customer due financial compensation for unfair and misleading debt collection practices.
tabling member constituency	Newport West
tabling member printed	Paul Flynn
uin	202726
answer	answer is ministerial correction date of answer 03/07/2014 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market. The transfer of regulatory responsibility for consumer credit from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) took effect in April. The FCA has stronger powers and is far better equipped to protect consumers than the OFT.</p><p> </p><p>Wonga has voluntarily agreed to pay compensation totaling more than £2.6m to around 45,000 customers in relation to unfair debt collection practices between 2008 and 2010. The requirement agreed by Wonga is available at <a href="http://www.fca.org.uk/your-fca/documents/requirement-notices/wonga-group-limited-vreq" target="_blank">http://www.fca.org.uk/your-fca/documents/requirement-notices/wonga-group-limited-vreq</a>. Had Wonga not agreed, the FCA could have used its powers to impose requirements. Wonga will appoint a skilled person (as specified under section 166 of the Financial Services and Markets Act 2000) to ensure that affected customers receive appropriate compensation.</p><p> </p><p>More generally, the Government has ensured that the FCA has inherited the OFT's powers (both criminal and regulatory) in relation to misconduct which occurred before 1 April 2014, as well as considerably strengthening the FCA's powers in relation to misconduct which occurs under the new regulatory regime.</p><p> </p><p>The FCA has the same powers as the OFT had to investigate and prosecute offences under the Consumer Credit Act 1974.</p><p> </p><p> </p><p>The FCA has also inherited the OFT's power to fine, although the OFT's power to fine under the Consumer Credit Act was limited to fining a firm for breaches of a requirement imposed by the OFT (and the maximum penalty in this regard was £50,000). The Government has already strengthened the new regime by giving the FCA the ability to impose unlimited fines for breaches of regulatory requirements that take place after 1 April 2014.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 202688 202724 202725 question first answered 03/07/2014 15:49:59 answering member 4117 label Biography information for Andrea Leadsom
tabling member	545 label Biography information for Paul Flynn

64278

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Gold: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, with reference to the Answer of 24 February 2014, Official Report, column 29W, on gold: prices, and the academic draft report of February 2014, by Professor Rosa Abrantes, Adviser to the EU and International Organisation of Securities Commission on Financial Benchmarks, entitled Gold Price Fix, and her reports of systemic manipulation of the twice daily gold fix over several years, if he will make an assessment of the effect of (a) US regulatory authorities' interventions in the gold market and (b) such interventions on gold market-related securities in ISAs.
tabling member constituency	Ceredigion
tabling member printed	Mr Mark Williams
uin	202836
answer	answer is ministerial correction date of answer 07/07/2014 answer text <p>The Government monitors all aspects of the gold market. Although no specific assessment of US regulatory interventions has been made, the Government is committed to taking action, whenever necessary, to ensure the efficient functioning of these essential markets. In order to raise standards of conduct in the financial system the Government has launched a joint review by the Treasury, the Bank of England and the Financial Conduct Authority into the way wholesale financial markets operate, including commodity markets.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 202775 question first answered 07/07/2014 14:20:28 answering member 4117 label Biography information for Andrea Leadsom
tabling member	1498 label Biography information for Mr Mark Williams

64279

registered interest
date	26/06/2014
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Financial Conduct Authority
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will bring foward legislative proposals to amend the statutory powers of the Financial Conduct Authority (FCA) to permit the FCA to investigate alleged illegal actions undertaken before its creation.
tabling member constituency	Newport West
tabling member printed	Paul Flynn
uin	202688
answer	answer is ministerial correction date of answer 03/07/2014 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market. The transfer of regulatory responsibility for consumer credit from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) took effect in April. The FCA has stronger powers and is far better equipped to protect consumers than the OFT.</p><p> </p><p>Wonga has voluntarily agreed to pay compensation totaling more than £2.6m to around 45,000 customers in relation to unfair debt collection practices between 2008 and 2010. The requirement agreed by Wonga is available at <a href="http://www.fca.org.uk/your-fca/documents/requirement-notices/wonga-group-limited-vreq" target="_blank">http://www.fca.org.uk/your-fca/documents/requirement-notices/wonga-group-limited-vreq</a>. Had Wonga not agreed, the FCA could have used its powers to impose requirements. Wonga will appoint a skilled person (as specified under section 166 of the Financial Services and Markets Act 2000) to ensure that affected customers receive appropriate compensation.</p><p> </p><p>More generally, the Government has ensured that the FCA has inherited the OFT's powers (both criminal and regulatory) in relation to misconduct which occurred before 1 April 2014, as well as considerably strengthening the FCA's powers in relation to misconduct which occurs under the new regulatory regime.</p><p> </p><p>The FCA has the same powers as the OFT had to investigate and prosecute offences under the Consumer Credit Act 1974.</p><p> </p><p> </p><p>The FCA has also inherited the OFT's power to fine, although the OFT's power to fine under the Consumer Credit Act was limited to fining a firm for breaches of a requirement imposed by the OFT (and the maximum penalty in this regard was £50,000). The Government has already strengthened the new regime by giving the FCA the ability to impose unlimited fines for breaches of regulatory requirements that take place after 1 April 2014.</p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom grouped question UIN 202724 202725 202726 question first answered 03/07/2014 15:49:59 answering member 4117 label Biography information for Andrea Leadsom
tabling member	545 label Biography information for Paul Flynn