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1124003

registered interest
date	30/04/2019
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 steps his Department is taking to address the loyalty penalty in the mortgage market.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	249284
answer	answer is ministerial correction date of answer 07/05/2019 answer text <p>HMT notes that consumer engagement in the mortgage market is high, with over three quarters of borrowers switching within 6 months of the end of an introductory deal.</p><p> </p><p>HMT has worked closely with the FCA to consider how to remove the regulatory barriers that prevent some customers from accessing better deals. HMT welcomes the FCA’s plans to move the affordability assessment from an absolute test to a relative one. This change removes the regulatory barrier that prevented some customers, who otherwise may have been able to switch, from accessing new mortgage products.</p><p> </p><p>HMT will continue to support the work the FCA is currently undertaking to improve switching and consumer engagement in the mortgage market.</p> answering member constituency Salisbury answering member printed John Glen question first answered 07/05/2019 13:36:36 answering member 4051 label Biography information for John Glen
tabling member	4124 label Biography information for Chi Onwurah

1124005

registered interest
date	30/04/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Regional Planning and Development: North of England
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what plans he has to use the forthcoming Spending Review to invest in the Northern Powerhouse.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	249286
answer	answer is ministerial correction date of answer 07/05/2019 answer text <p>Since 2010, over 60% of the increase in UK employment has come from regions outside of London and the South East, and all regions of the North of England have seen faster nominal productivity growth over that time period than London and the South East. The Government is continuing to support the Northern Powerhouse, for example, the £2.5bn Transforming Cities Fund as well as Devolution deals for Manchester, Liverpool and North of Tyne. We will continue to support this growth through the Spending Review later this year.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 07/05/2019 12:03:44 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4124 label Biography information for Chi Onwurah