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1244687

registered interest
date	19/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts Written Off: Developing Countries
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make representations to his overseas counterparts at the G20 Finance Ministers Meetings on the cancellation of developing countries' debts to the IMF and World Bank to help those countries tackle the covid-19 pandemic.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	105566
answer	answer is ministerial correction date of answer 23/10/2020 answer text <p>The Government is closely monitoring the impact of the crisis on the debt situation in developing countries, including through our membership of the International Monetary Fund, World Bank and Paris Club. It is clear that the COVID-19 pandemic is placing extraordinary pressures on the finances of low and middle income countries. Recognising this, the G20 has taken action to support these countries, agreeing the landmark DSSI (Debt Service Suspension Initiative).The DSSI provides a suspension of debt repayments to eligible countries so they can focus resources on their coronavirus response.</p><p>On the 14<sup>th</sup> October, the G20 Finance Ministers and Central Bank Governors (FMCBG) met. They agreed to extend the DSSI for a further six months and, importantly, reached an in principle agreement on a Common Framework on future debt treatments beyond the DSSI to facilitate timely and orderly debt treatment for DSSI-eligible countries where this is required.A further G20 FMCBG meeting is to take place in early November and the UK is asking all G20 countries to fulfil the necessary internal approvals to endorse and publish the Common Framework in due course.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 23/10/2020 08:19:16 answering member 4051 label Biography information for John Glen
tabling member	4786 label Biography information for Zarah Sultana

1239663

registered interest
date	01/10/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Debts Written Off: Developing Countries
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 (a) debt cancellation for lower-income countries from Governments, the IMF and World Bank, the private sector and all other creditors for 2020 and 2021 and (b) bringing forward legislative proposals similar to the Debt Relief (Developing Countries) Act 2010 to enforce on the private sector the terms of an international agreement for debt relief.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	98290
answer	answer is ministerial correction date of answer 06/10/2020 answer text <p>The Government is concerned about the debt vulnerabilities of low-income developing countries, which have been exacerbated by the COVID-19 pandemic.</p><p> </p><p>The UK cancelled most of our low-income developing country debt under the Heavily Indebted Poor Countries (HIPC) Initiative. However, we have remained a global leader in advancing sovereign debt transparency and sustainability. In April 2020 the Chancellor joined his G20 counterparts to commit to a temporary suspension on debt service repayments from the 77 poorest countries under the debt service suspension initiative (DSSI). To date, the DSSI has supported 43 countries which have requested suspensions by freeing up $5 billion to fund their COVID-19 responses. Given the depth of liquidity needs in these countries, the UK supports an extension of the DSSI into 2021.</p><p> </p><p>The G20 agreed private sector DSSI participation should be voluntary and at borrowers’ discretion. The Government continues to support this approach, which helps protect these countries’ hard-won market access which will be essential for financing COVID recovery. Where borrowers do make requests, private creditors should implement the DSSI. Where sovereign debt reductions are necessary, it will be important for there to be fair and timely burden sharing between all creditor types, including commercial creditors.</p> answering member constituency Salisbury answering member printed John Glen question first answered 06/10/2020 12:51:11 answering member 4051 label Biography information for John Glen
tabling member	4786 label Biography information for Zarah Sultana

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

1178964

registered interest
date	21/02/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	EU Grants and Loans
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what plans the Government has for (a) universities and (b) other UK institutions to be able to participate in EU-funded projects after 2020.
tabling member constituency	Coventry South
tabling member printed	Zarah Sultana
uin	18876
answer	answer is ministerial correction date of answer 02/03/2020 answer text <p>The Public Mandate states that the UK is ready to consider participation in certain EU programmes where it is in the UK's and the EU’s interest that the UK does so. The Public Mandate can be found here: <a href="https://www.gov.uk/government/publications/our-approach-to-the-future-relationship-with-the-eu" target="_blank">https://www.gov.uk/government/publications/our-approach-to-the-future-relationship-with-the-eu</a></p><p> </p><p>The UK will consider a relationship in line with non-EU Member State participation for the following programmes: Horizon Europe, Euratom Research and Training, and Copernicus. The UK will consider service access agreements for the following programmes: EU Space Surveillance and Tracking, and the European Geostationary Navigation Overlay Service. The Government’s manifesto set out its ambitious approach on research and development, including a commitment to continue collaboration internationally and with the EU on scientific research, including Horizon Europe.</p><p> </p><p>The UK Government wants to ensure that UK and European universities and institutions continue to benefit from each other’s world-leading systems and expertise. The UK will consider options for participation in elements of Erasmus+ on a time-limited basis, provided the terms are in the UK’s interests. The Government is considering a wide range of options with regards to future cooperation, including potential domestic alternatives. Decisions on future budget provisions are a matter for the Comprehensive Spending Review.</p><p> </p><p>The proposed regulations for programmes in the next Multiannual Financial Framework (2021-27) are still being discussed in the EU and are yet to be finalised. The UK’s future participation in these programmes and projects will be subject to negotiations on the UK-EU relationship.</p><p> </p><p>Under the financial settlement the UK will continue to contribute to the EU budget in respect of the EU’s current financial planning period (the Multiannual Financial Framework 2014-20) and will continue to participate and benefit from its programmes and receive receipts for the duration of projects, which in some cases go beyond 2020.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 02/03/2020 15:30:55 answering member 3991 label Biography information for Jesse Norman
tabling member	4786 label Biography information for Zarah Sultana