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1198594

registered interest
date	01/06/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Insurance: Coronavirus
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has of made of trends in the number of insurance companies that are failing to make payments for covid-19 claims despite those claims being covered by original insurance agreements.
tabling member constituency	Portsmouth South
tabling member printed	Mr Stephen Morgan
uin	52397
answer	answer is ministerial correction date of answer 04/06/2020 answer text <p>The Government is in continual dialogue with the insurance sector to understand and influence its response to this unprecedented situation and is encouraging insurers to do all they can to support customers during this difficult period.</p><p> </p><p>The Government is working closely with the Financial Conduct Authority to ensure that the rules are being upheld during this crisis and fully supports the regulator in its role. The FCA rules require insurers to handle claims fairly and promptly; provide reasonable guidance to help a policyholder make a claim; not reject a claim unreasonably; and settle claims promptly once settlement terms are agreed. In addition, the FCA has said that, in light of COVID-19, insurers must consider very carefully the needs of their customers and show flexibility in their treatment of them.</p><p> </p><p>On 1 May the FCA outlined its intention to seek a court declaration, on an agreed and urgent basis, and for a selected number of key issues, to resolve uncertainty for many customers making business interruption claims. Subsequently on 1 June, the FCA announced the policy wordings that would be tested in the court action and insurers it had invited to participate directly, along with an initial list of policy wordings and insurers that will potentially be impacted by the Court’s decision on the representative sample. The FCA expects to publish a final list of all the relevant insurers and policies that may have impacted wordings in early July, and expects a court hearing to take place in late July.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 04/06/2020 09:48:50 answering member 4051 label Biography information for John Glen
tabling member	4653 label Biography information for Stephen Morgan

1198722

registered interest
date	01/06/2020
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 assessment he has made of the effect of the modified affordability assessment on the number of mortgage prisoners unable to access new mortgage products.
tabling member constituency	Chatham and Aylesford
tabling member printed	Tracey Crouch
uin	51849
answer	answer is ministerial correction date of answer 04/06/2020 answer text <p>The Government remains committed to supporting these borrowers, which is why the Government and the FCA have taken action to remove the regulatory barriers that previously prevented switching.</p><p> </p><p>Lenders are currently making the necessary adjustments and system changes to enable them to use the modified affordability assessment for borrowers looking to re-mortgage. We expect lenders to start offering these borrowers products using the new rules soon.</p><p> </p><p>I have written to Stephen Jones, Chief Executive Officer of UK Finance outlining my expectation that as many of its members as possible should move quickly to offer new deals to borrowers that are eligible to switch under the new FCA rules. You can read the letter here:</p><p><a href="https://www.gov.uk/government/publications/a-letter-from-john-glen-to-stephen-jones-on-mortgage-prisoners" target="_blank">https://www.gov.uk/government/publications/a-letter-from-john-glen-to-stephen-jones-on-mortgage-prisoners</a>.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 51850 question first answered 04/06/2020 09:50:29 answering member 4051 label Biography information for John Glen
tabling member	3950 label Biography information for Dame Tracey Crouch

1198723

registered interest
date	01/06/2020
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 recent discussions he has had with UK Finance on its members using the modified affordability assessment for mortgage prisoners.
tabling member constituency	Chatham and Aylesford
tabling member printed	Tracey Crouch
uin	51850
answer	answer is ministerial correction date of answer 04/06/2020 answer text <p>The Government remains committed to supporting these borrowers, which is why the Government and the FCA have taken action to remove the regulatory barriers that previously prevented switching.</p><p> </p><p>Lenders are currently making the necessary adjustments and system changes to enable them to use the modified affordability assessment for borrowers looking to re-mortgage. We expect lenders to start offering these borrowers products using the new rules soon.</p><p> </p><p>I have written to Stephen Jones, Chief Executive Officer of UK Finance outlining my expectation that as many of its members as possible should move quickly to offer new deals to borrowers that are eligible to switch under the new FCA rules. You can read the letter here:</p><p><a href="https://www.gov.uk/government/publications/a-letter-from-john-glen-to-stephen-jones-on-mortgage-prisoners" target="_blank">https://www.gov.uk/government/publications/a-letter-from-john-glen-to-stephen-jones-on-mortgage-prisoners</a>.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 51849 question first answered 04/06/2020 09:50:29 answering member 4051 label Biography information for John Glen
tabling member	3950 label Biography information for Dame Tracey Crouch

1198867

registered interest
date	01/06/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Wonga
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many claims for refunds from Wonga customers who were mis-sold higher risk loans remain outstanding; and if he will make an assessment of the potential merits of providing support from the public purse to those customers who only received 4.3 per cent of the compensation due to them.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	52558
answer	answer is ministerial correction date of answer 04/06/2020 answer text <p>When a firm enters administration, assets are pooled and used to cover customer redress claims and administration costs. In the case of Wonga, the pooled assets are not sufficient to meet all of the redress claims. The administrator, Grant Thornton UK LLP, is therefore unable to pay out 100% of these claims and must address claims in order of the creditor hierarchy. The number of redress claims and the amounts due in the case of Wonga is a matter for the administrators.</p><p>The Financial Conduct Authority (FCA), who regulate payday loans, has the power to decide which activities are given Financial Services Compensation Scheme (FSCS) protection. In 2016, the FCA decided not to extend FSCS protection to most consumer credit activities because it believed other regulatory requirements were sufficient. The full reasoning behind the FCA’s decision is set out in a letter from their Chief Executive to the Chair of the Treasury Select Committee on 15 February 2019.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/06/2020 09:53:47 answering member 4051 label Biography information for John Glen
tabling member	4786 label Biography information for Zarah Sultana

1198981

registered interest
date	01/06/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Works Loan Board: Northern Ireland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he make an assessment of the potential merits of extending the remit of the Public Works Loan Board to include local councils in Northern Ireland.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	51634
answer	answer is ministerial correction date of answer 04/06/2020 answer text <p>The Public Works Loan Board provides loans at lower than market rates for capital expenditure to local authorities in England, Scotland and Wales. The Local Government Finance Act (Northern Ireland) 2011 provides the legal basis which permits district councils to borrow and sets out the responsibilities of the council should they choose to do so. The Financial Provisions (Northern Ireland) Order 1983 is the legislation which underpins government lending from the Northern Ireland Consolidated Fund to local councils to support capital expenditure. This provides loans at lower than market rates for capital expenditure without extending the remit of the Public Works Loan Board to include local councils in Northern Ireland.</p> answering member constituency Salisbury answering member printed John Glen question first answered 04/06/2020 09:47:04 answering member 4051 label Biography information for John Glen
tabling member	1409 label Biography information for Mr Gregory Campbell

1197875

registered interest
date	21/05/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	National Income: Coronavirus
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what estimate they have made of the impact of (1) current social distancing measures on GDP, and (2) the impending recession referred to by the Chancellor of the Exchequer at the Economic Affairs Committee on 19 May, on GDP. [T]
tabling member printed	Lord Lamont of Lerwick
uin	HL4840
answer	answer is ministerial correction date of answer 29/05/2020 answer text <p>HM Treasury does not produce forecasts of the economy or public finances.</p><p> </p><p>The Office for Budget Responsibility (OBR) is responsible for producing forecasts of the economy and public finances. On 14 April the OBR published a reference scenario assessing the potential impact of coronavirus. In this scenario GDP is assumed to fall by 35 per cent in the second quarter of 2020 before recovering in subsequent quarters. The OBR note that the Government’s policy response should help limit the long-term damage to the economy and public finances.</p> answering member printed Lord Agnew of Oulton question first answered 29/05/2020 12:16:41 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	895 label Biography information for Lord Lamont of Lerwick

1197888

registered interest
date	21/05/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector Debt
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government which (1) department, (2) executive agency, (3) board, (4) court, or (5) other body, is responsible for ensuring that the Bank of England’s independence is not compromised through the financing of UK Government debt.
tabling member printed	Lord Myners
uin	HL4853
answer	answer is ministerial correction date of answer 03/06/2020 answer text <p>The Bank of England (the Bank) has statutory responsibilities for monetary policy and financial stability, and independence from the government to carry out these responsibilities as enshrined in the Bank of England Act (1998). The Bank is accountable to both the public and to Parliament, through scrutiny by the Treasury Committee.</p><p> </p><p>The remit of the independent Monetary Policy Committee (MPC) is set by the Chancellor, and is reaffirmed annually through an exchange of open letters with the Governor of the Bank.</p><p> </p><p>The separation of monetary and fiscal policy is a key pillar of the government’s macroeconomic framework. As such, the responsibility for financing the government’s needs was transferred from the Bank to the UK’s Debt Management Office (DMO), an executive agency of HM Treasury, in 1998. The Treasury sets the DMO’s objective for debt management independently of monetary policy.</p><p> </p> answering member printed Lord Agnew of Oulton question first answered 03/06/2020 16:22:14 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	3869 label Biography information for Lord Myners

1197424

registered interest
date	20/05/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Food: Wholesale Trade
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will extend the application of business rates relief to food and drink wholesalers.
tabling member constituency	Swansea East
tabling member printed	Carolyn Harris
uin	49765
answer	answer is ministerial correction date of answer 03/06/2020 answer text <p>The Government has provided enhanced support to the retail, hospitality and leisure sectors through business rates relief given the direct and acute impacts of the COVID-19 pandemic on those sectors.</p><p> </p><p>A range of further measures to support all businesses, including food and drink wholesalers, has also been made available. For example, the Government has launched the Coronavirus Job Retention Scheme to help firms keep people in employment, the Coronavirus Business Interruption Loan Scheme offering loans of up to £5 million for SMEs through the British Business Bank backed by an 80% Government guarantee, and is deferring VAT payments for this quarter.</p><p> </p><p>The Government will consider any further financial assistance necessary to help businesses get through this period.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 03/06/2020 09:02:45 answering member 3991 label Biography information for Jesse Norman
tabling member	4480 label Biography information for Carolyn Harris

1197437

registered interest
date	20/05/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Treasury: Correspondence
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the average length of time was for Ministers of his Department to respond to correspondence from hon. Members in each month in the last two years.
tabling member constituency	Motherwell and Wishaw
tabling member printed	Marion Fellows
uin	49730
answer	answer is ministerial correction date of answer 02/06/2020 answer text <p>Information on average response times is not held.</p><p> </p><p>However, in 2019, the Treasury replied to 90% of MPs’ correspondence within 15 working days.</p><p> </p><p>The Treasury has received unprecedented amounts of correspondence since the start of the coronavirus outbreak in the UK. All Member’s correspondence is currently receiving attention and will be responded to as soon as possible.</p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 02/06/2020 06:59:03 answering member 4597 label Biography information for Kemi Badenoch
tabling member	4440 label Biography information for Marion Fellows

1197497

registered interest
date	20/05/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Self-employment Income Support Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether self-employed workers who are subject to the Turkish EC Association Agreement visa are eligible for the Self-Employment Income Support Scheme.
tabling member constituency	Edmonton
tabling member printed	Kate Osamor
uin	49785
answer	answer is ministerial correction date of answer 03/06/2020 answer text <p>The revised guidance published alongside the legal Direction makes it clear that grants under the Self-Employment Income Support Scheme (SEISS) are not counted as “access to public funds”, and that taxpayers can claim the SEISS grant on all categories of visa. This treatment of the SEISS grant aligns with that of payments from the Coronavirus Job Retention Scheme.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 03/06/2020 08:49:37 answering member 3991 label Biography information for Jesse Norman
tabling member	4515 label Biography information for Kate Osamor