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422871

registered interest
date	21/10/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Help to Buy Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what discussions he has had with (a) his ministerial colleagues and (b) external organisations on the future of the mortgage guarantee scheme of the Help to Buy policy; and if he will make a statement.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	12889
answer	answer is ministerial correction date of answer 26/10/2015 answer text <p>The Government is committed to addressing the affordability of housing and making the aspiration of home ownership a reality for as many households as possible. At Budget 2014, the Help to Buy: equity loan scheme was extended to 2020 and the Government also intends to support younger buyers through delivering 200,000 Starter Homes by 2020, to be sold at a 20% discount for first time buyers under 40. These measures will also be supported by the launch of a Help to Buy: ISA through which the Government will top up mortgage deposit savings for first time buyers by 25% up to a maximum of £3,000.</p><p><br> Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="http://www.hm-treasury.gov.uk/minister_hospitality.htm" target="_blank">http://www.hm-treasury.gov.uk/minister_hospitality.htm</a></p> answering member constituency West Worcestershire answering member printed Harriett Baldwin grouped question UIN 12888 question first answered 26/10/2015 15:35:19 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1447 label Biography information for Andrew Rosindell

420971

registered interest
date	13/10/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Business: Tax Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will take steps to provide tax incentives for businesses seeking to enter the automotive and motor racing industries.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	11657
answer	answer is ministerial correction date of answer 21/10/2015 answer text <p>The Government provides generous tax incentives to help new and innovative businesses in the UK, including the automotive and motor racing industries. The rate of corporation tax is currently 20% and will be 18% in 2020, the lowest of any economy in the G20.</p><br /><p>The Government supports research and development (R&amp;D) in the automotive and motor racing industries through R&amp;D tax reliefs. At Summer Budget 2015, the Government also announced that it would increase the permanent level of Annual Investment Allowance to £200,000 which will further support investment in plant and machinery.</p><br /><p>The Government has also committed £86 million through the Advanced Propulsion Centre to secure Britain’s strength in the research, development and commercialisation of low carbon vehicle technologies.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2015 16:07:43 answering member 1529 label Biography information for Mr David Gauke
tabling member	1447 label Biography information for Andrew Rosindell

420972

registered interest
date	13/10/2015
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, what steps his Department is taking to ensure that the Financial Conduct Authority acts to prevent companies from fraudulently using capital raised from selling ring-fenced bonds to bail out poorly-performing parent companies.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	11660
answer	answer is ministerial correction date of answer 21/10/2015 answer text <p>The Government has legislated to ensure that the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), are fully empowered to maintain the integrity of the ring-fence, and to take action in preventing this type of misconduct.</p><br /><p>The ring fencing regime includes requirements that directors of the ring-fenced body (RFB) be able to take decisions independently of group entities; that transactions with group entities be on arm’s length terms; and that arrangements with other group entities should be managed as with third parties.</p><br /><p>The PRA and the Bank of England have powers to take action if such a transaction were to have a potential impact on the prudential resilience or resolvability of the RFB. The FCA can also take enforcement action for breaches of its rules or for these types of market abuse, which includes the imposition of substantial financial penalties.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 21/10/2015 13:39:49 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1447 label Biography information for Andrew Rosindell

420974

registered interest
date	13/10/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Economic Situation
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 implications for his policies of the most recent Global Financial Stability Report from the IMF.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	11779
answer	answer is ministerial correction date of answer 21/10/2015 answer text <p>The IMF’s report concludes that risks to global financial stability from emerging markets remain elevated, amid falling risk appetite and increasing market liquidity risks.</p><p>The UK Government is alive to any implications of these risks for UK financial stability. The Government established the Financial Policy Committee (FPC) to identify and manage these types of risk to the UK financial system.</p><p>The Bank of England’s forthcoming 2015 stress test of the UK banking system will assess its resilience to a deterioration in global economic conditions, particularly in emerging markets.</p><p>Furthermore, the UK’s financial regulatory bodies are continuing to work at an international level on risks relating to global financial market liquidity.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 21/10/2015 13:43:18 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1447 label Biography information for Andrew Rosindell

420975

registered interest
date	13/10/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Lloyds Bank
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the reasons are for the timing of his Department's sale of the remaining £2 billion of Lloyds' shares.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	11718
answer	answer is ministerial correction date of answer 21/10/2015 answer text <p>The Chancellor of the Exchequer stated his intention to return Lloyds Banking Group to the private sector over the coming year in his Mansion House speech of June 2015. The proposal to launch a retail sale in Spring 2016 is consistent with this commitment.</p><br /><p>The Government is determined to build a share-owning democracy and to continue to reduce the national debt by making Lloyds shares available to the public. Final decisions around the timing of a sale are dependent on market conditions, among other factors.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 21/10/2015 13:41:21 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1447 label Biography information for Andrew Rosindell

420976

registered interest
date	13/10/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Foreign Relations: China
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps he is taking to improve Britain's economic ties with China.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	11693
answer	answer is ministerial correction date of answer 22/10/2015 answer text <p>In 2014, UK goods exports to China were worth £15.5bn, making China our 6<sup>th</sup> largest goods export partner. The government wants to improve this relationship, with a target for China to be the 2<sup>nd</sup> largest recipient of UK exports within a decade.</p><br /><p>The Government warmly welcomes the State Visit of President Xi and Madame Peng, an important milestone that should lay the foundations for a golden age in the bilateral relationship. The Visit will build upon the sustained engagement by the Chancellor and other Ministers to deepen UK-China economic cooperation, including via the annual, Chancellor-led Economic and Financial Dialogue (EFD).</p><br /><p>At the most recent EFD in September 2015, both sides agreed a package of measure to strengthen their long-term collaboration, including on capital markets, bond markets, green finance, asset management and insurance. Further detail can be found at: <a href="https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/462412/EFD_factsheet.pdf" target="_blank">https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/462412/EFD_factsheet.pdf</a></p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 22/10/2015 14:49:38 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1447 label Biography information for Andrew Rosindell

418647

registered interest
date	14/09/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Foreign Relations: Iran
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will make an assessment of the effect on the UK economy of improved relations with Iran.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	10204
answer	answer is ministerial correction date of answer 22/09/2015 answer text <p>The reopening of the UK Embassy in Tehran in August followed gradual expansion of our bilateral engagement with Iran over the last two years, allowing us to discuss a broad range of issues, including areas where we and Iran have sharply differing views.</p><p> </p><p> </p><p> </p><p>The nuclear deal agreed in July will give the international community confidence in the peaceful nature of Iran’s nuclear programme, by imposing strict limits and inspections on its nuclear activity. If Iran completes the agreed actions on its nuclear programme, and nuclear related economic and financial sanctions on Iran are lifted, there will also be commercial opportunities for UK firms and indirect impacts on the UK economy, for example via global energy prices.</p><p> </p><p> </p><p> </p><p>However, the impact of the deal will be complex, and the impact of improved relations with Iran on the UK economy is therefore uncertain.</p><p> </p><p> </p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 22/09/2015 10:01:01 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1447 label Biography information for Andrew Rosindell

418649

registered interest
date	14/09/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Economic Situation: Greece
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 potential fiscal effect on the UK of the government of Greece defaulting on its national debt.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	10194
answer	answer is ministerial correction date of answer 18/09/2015 answer text <p>The UK government has no exposure to Greece through its euro area loans. The Government has secured a deal that protects UK taxpayers from any risk from financing euro area bailouts now and in the future. This deal gives legal force to the commitment secured in 2010 that UK taxpayers would not be drawn into a euro area bailout.</p><p> </p><p> </p><p> </p><p>As a shareholder in the International Monetary Fund (IMF), the UK has an indirect exposure to Greece through the IMF’s overall lending. Our ultimate exposure to any IMF lending programme would be in line with our quota shareholding (around 4.5 per cent).</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 18/09/2015 08:57:31 answering member 4107 label Biography information for Dame Harriett Baldwin
tabling member	1447 label Biography information for Andrew Rosindell

418651

registered interest
date	14/09/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Inheritance Tax
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what plans his Department has to further reduce the level of inheritance tax on homes.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	10184
answer	answer is ministerial correction date of answer 21/09/2015 answer text <p>At the Summer Budget 2015, the Government announced it will reduce the burden of inheritance tax for families by making it easier to pass on a home to direct descendants. Information about this measure is available at https://www.gov.uk/government/publications/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band.</p><p> </p><p> </p><p> </p><p>The Government keeps all taxes under review.</p><p> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/09/2015 10:31:57 answering member 1529 label Biography information for Mr David Gauke
tabling member	1447 label Biography information for Andrew Rosindell

418652

registered interest
date	14/09/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Economic situation: China
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect of China's economic slowdown on the UK economy.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	10185
answer	answer is ministerial correction date of answer 22/09/2015 answer text <p>The Treasury continuously monitors global economic developments, including those in China, and their impact on the UK as part of the normal process of policy development.</p><p> </p><p> </p><p> </p><p>As one of the most open trading economies in the world with a large financial sector, we have to recognise that the UK is not immune to the continued problems being experienced in the world economy.</p><p> </p><p> </p><p> </p><p>We should not let this put us off. As the Chancellor recently said, while leading the UK’s Economic and Financial Dialogue with China this week, both countries: “have a shared commitment to laying the foundations for stronger, more productive economies that can weather periods of uncertainty. At the same time, we need to continue to pursue the longer-term reform challenges that both our governments are pursuing.”</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 22/09/2015 13:14:32 answering member 1529 label Biography information for Mr David Gauke
tabling member	1447 label Biography information for Andrew Rosindell