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1126005

	registered interest
	date	13/05/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mineworkers' Pension Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, when he plans to respond to the open letter of 11 April 2019 on the Mineworkers' Pension Scheme ;and if he will meet with the signatories of that letter.
	tabling member constituency	Blaenau Gwent
	tabling member printed	Nick Smith
	uin	253552
	answer	answer is ministerial correction date of answer 15/05/2019 answer text <p>I have responded to the letter dated 11 April 2019 as the Minister responsible for the scheme. Discussions with the Trustees of the Scheme are ongoing about possible changes that would benefit all parties.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 15/05/2019 16:09:31 answering member 4097 label Biography information for Elizabeth Truss
	tabling member	3928 label Biography information for Nick Smith

1105286

	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	Pensions: Advisory Services
	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 effectiveness of current (a) legal (b) administrative and (c) financial penalties for the provision of poor pension transfer advice.
	tabling member constituency	Blaenau Gwent
	tabling member printed	Nick Smith
	uin	237078
	answer	answer is ministerial correction date of answer 03/04/2019 answer text <p>The Government is committed to working with the Financial Conduct Authority (FCA), the independent financial services regulator, to ensure consumers have access to high quality financial advice. The FCA is responsible for ensuring that the financial advice market works well, competitively and fairly. The Government has established a strong regulatory framework to enable the FCA’s work.</p><p> </p><p>The FCA has considerable power to take action where it sees evidence of poor pension transfer advice. For example, they may impose a financial penalty on firms or individuals, require the firm to pay redress to its customers, place restrictions on the firm’s permissions or prohibit individuals from operating in financial services.</p> answering member constituency Salisbury answering member printed John Glen question first answered 03/04/2019 10:41:01 answering member 4051 label Biography information for John Glen
	tabling member	3928 label Biography information for Nick Smith

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