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1422627

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Regulation
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 regulate buy now, pay later products.
tabling member constituency	Wycombe
tabling member printed	Mr Steve Baker
uin	125128
answer	answer is ministerial correction date of answer 28/02/2022 answer text <p>The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later (BNPL) products. The Government recognises those risks, but also notes that as an interest-free product, BNPL can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why on 2 February 2021 the Government announced its intention to regulate BNPL products in a proportionate manner.</p><p> </p><p>The Government published a consultation on policy proposals for the regulation of BNPL on 21 October 2021, which closed on 6 January. The consultation sought stakeholder views on how to define the scope of regulation and how to draw boundaries in legislation between different types of credit agreements that make use of the exemption from consumer credit regulation that is currently used by BNPL products.</p><p> </p><p>The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.</p><p> </p><p>HMT does not hold information regarding the savings to consumers resulting from the use of BNPL products in 2021, or the impact of BNPL on the UK’s retail industry. Instead, HMT draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 125129 125130 125131 question first answered 28/02/2022 15:02:19 answering member 4051 label Biography information for John Glen
tabling member	4064 label Biography information for Mr Steve Baker

1422628

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what plans his Department has to create a definition of buy now, pay later in statute; and whether he has made an assessment of the potential impact of establishing that definition.
tabling member constituency	Wycombe
tabling member printed	Mr Steve Baker
uin	125129
answer	answer is ministerial correction date of answer 28/02/2022 answer text <p>The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later (BNPL) products. The Government recognises those risks, but also notes that as an interest-free product, BNPL can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why on 2 February 2021 the Government announced its intention to regulate BNPL products in a proportionate manner.</p><p> </p><p>The Government published a consultation on policy proposals for the regulation of BNPL on 21 October 2021, which closed on 6 January. The consultation sought stakeholder views on how to define the scope of regulation and how to draw boundaries in legislation between different types of credit agreements that make use of the exemption from consumer credit regulation that is currently used by BNPL products.</p><p> </p><p>The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.</p><p> </p><p>HMT does not hold information regarding the savings to consumers resulting from the use of BNPL products in 2021, or the impact of BNPL on the UK’s retail industry. Instead, HMT draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 125128 125130 125131 question first answered 28/02/2022 15:02:20 answering member 4051 label Biography information for John Glen
tabling member	4064 label Biography information for Mr Steve Baker

1422629

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate his Department has made of the savings to consumers resulting from the use of buy now, pay later low interest credit schemes in 2021.
tabling member constituency	Wycombe
tabling member printed	Mr Steve Baker
uin	125130
answer	answer is ministerial correction date of answer 28/02/2022 answer text <p>The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later (BNPL) products. The Government recognises those risks, but also notes that as an interest-free product, BNPL can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why on 2 February 2021 the Government announced its intention to regulate BNPL products in a proportionate manner.</p><p> </p><p>The Government published a consultation on policy proposals for the regulation of BNPL on 21 October 2021, which closed on 6 January. The consultation sought stakeholder views on how to define the scope of regulation and how to draw boundaries in legislation between different types of credit agreements that make use of the exemption from consumer credit regulation that is currently used by BNPL products.</p><p> </p><p>The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.</p><p> </p><p>HMT does not hold information regarding the savings to consumers resulting from the use of BNPL products in 2021, or the impact of BNPL on the UK’s retail industry. Instead, HMT draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 125128 125129 125131 question first answered 28/02/2022 15:02:20 answering member 4051 label Biography information for John Glen
tabling member	4064 label Biography information for Mr Steve Baker

1422630

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Credit: Retail Trade
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the impact of buy now, pay later products on the UK’s retail industry.
tabling member constituency	Wycombe
tabling member printed	Mr Steve Baker
uin	125131
answer	answer is ministerial correction date of answer 28/02/2022 answer text <p>The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later (BNPL) products. The Government recognises those risks, but also notes that as an interest-free product, BNPL can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why on 2 February 2021 the Government announced its intention to regulate BNPL products in a proportionate manner.</p><p> </p><p>The Government published a consultation on policy proposals for the regulation of BNPL on 21 October 2021, which closed on 6 January. The consultation sought stakeholder views on how to define the scope of regulation and how to draw boundaries in legislation between different types of credit agreements that make use of the exemption from consumer credit regulation that is currently used by BNPL products.</p><p> </p><p>The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.</p><p> </p><p>HMT does not hold information regarding the savings to consumers resulting from the use of BNPL products in 2021, or the impact of BNPL on the UK’s retail industry. Instead, HMT draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 125128 125129 125130 question first answered 28/02/2022 15:02:20 answering member 4051 label Biography information for John Glen
tabling member	4064 label Biography information for Mr Steve Baker

1422640

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Energy Bills Rebate
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether the energy bill discount scheme will be mandatory for all who qualify.
tabling member constituency	Bradford East
tabling member printed	Imran Hussain
uin	125225
answer	answer is ministerial correction date of answer 23/02/2022 answer text <p>All domestic electricity customers in Great Britain will receive a £200 reduction in their electricity costs from this October. This will be delivered via energy suppliers and will be clearly identifiable as a line item on electricity bills.</p><p> </p><p>This will help people with the increase in energy bills by spreading the increased costs over a few years, so they are more manageable for households.</p><p> </p><p>The energy bill reduction is not a loan – there is no interest due on it, no debt attached to it, and it will not affect your credit rating.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately grouped question UIN 125346 125378 125379 question first answered 23/02/2022 17:40:41 answering member 4527 label Biography information for Helen Whately
tabling member	4394 label Biography information for Imran Hussain

1422641

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Energy Bills Rebate
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether people exempt from paying council tax will qualify for the council tax rebate.
tabling member constituency	Bradford East
tabling member printed	Imran Hussain
uin	125227
answer	answer is ministerial correction date of answer 28/02/2022 answer text <p>The government has announced a £150 non-repayable council tax rebate from April this year for households in England in council tax bands A-D.</p><p> </p><p>The Department for Levelling Up, Housing and Communities have published guidance on eligibility among households that are exempt from council tax; some of these households might be eligible for the discretionary funding administered by local authorities if they are not eligible for the core scheme.</p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke question first answered 28/02/2022 14:21:08 answering member 4655 label Biography information for Sir Simon Clarke
tabling member	4394 label Biography information for Imran Hussain

1422642

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Energy Bills Rebate
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether people will be exempt from repaying loans under the energy bill discount scheme as a result of their financial circumstances.
tabling member constituency	Bradford East
tabling member printed	Imran Hussain
uin	125226
answer	answer is ministerial correction date of answer 25/02/2022 answer text <p>All domestic electricity customers in Great Britain will receive a £200 reduction in their electricity costs from this October. This will be delivered via energy suppliers and will be clearly identifiable as a line item on electricity bills.</p><p> </p><p>This will help people with the increase in energy bills by spreading the increased costs over a few years, so they are more manageable for households. This will give households time for their finances to adjust rather than having to deal with the whole price increase up front, providing relief to millions of households.</p><p> </p><p>The energy bill reduction is not a loan - there is no interest due on it, no debt attached to it, and it will not affect recipients’ credit rating.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 25/02/2022 14:27:06 answering member 4527 label Biography information for Helen Whately
tabling member	4394 label Biography information for Imran Hussain

1422675

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Wines: Excise Duties
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of proposed reforms to alcohol duty on the diversity, choice and quality of wines available to UK consumers.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	125008
answer	answer is ministerial correction date of answer 25/02/2022 answer text <p>As part of the alcohol duty review, the Government has announced several reforms which aim to modernise the taxation system for wine.</p><p>By moving to a duty system where all wines are taxed in reference to their alcohol content, the Government intends to incentivise innovation of lower strength wines, providing greater choice to wine consumers. In addition, the Government has announced it will equalise still and sparkling wine rates, helping to spur innovation among British sparkling wine producers.</p><p> </p><p>The Treasury is continuing to engage with other Government departments and interested stakeholders on these reforms. A consultation ran from 27 October 2021 to 30 January 2022, and the Treasury is now analysing the responses.</p><p>Further detail about the impact of reforms on producers will be included in a tax information and impact note when the policy is final, or near final, in the usual way.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately grouped question UIN 125009 125010 question first answered 25/02/2022 14:43:44 answering member 4527 label Biography information for Helen Whately
tabling member	1447 label Biography information for Andrew Rosindell

1422676

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Wines: Excise Duties
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the economic impact of proposed reforms to alcohol duty on the import of luxury wines.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	125009
answer	answer is ministerial correction date of answer 25/02/2022 answer text <p>As part of the alcohol duty review, the Government has announced several reforms which aim to modernise the taxation system for wine.</p><p>By moving to a duty system where all wines are taxed in reference to their alcohol content, the Government intends to incentivise innovation of lower strength wines, providing greater choice to wine consumers. In addition, the Government has announced it will equalise still and sparkling wine rates, helping to spur innovation among British sparkling wine producers.</p><p> </p><p>The Treasury is continuing to engage with other Government departments and interested stakeholders on these reforms. A consultation ran from 27 October 2021 to 30 January 2022, and the Treasury is now analysing the responses.</p><p>Further detail about the impact of reforms on producers will be included in a tax information and impact note when the policy is final, or near final, in the usual way.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately grouped question UIN 125008 125010 question first answered 25/02/2022 14:43:44 answering member 4527 label Biography information for Helen Whately
tabling member	1447 label Biography information for Andrew Rosindell

1422677

registered interest
date	18/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Wines: Excise Duties
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the impact of proposed reforms to alcohol duty on British wine producers.
tabling member constituency	Romford
tabling member printed	Andrew Rosindell
uin	125010
answer	answer is ministerial correction date of answer 25/02/2022 answer text <p>As part of the alcohol duty review, the Government has announced several reforms which aim to modernise the taxation system for wine.</p><p>By moving to a duty system where all wines are taxed in reference to their alcohol content, the Government intends to incentivise innovation of lower strength wines, providing greater choice to wine consumers. In addition, the Government has announced it will equalise still and sparkling wine rates, helping to spur innovation among British sparkling wine producers.</p><p> </p><p>The Treasury is continuing to engage with other Government departments and interested stakeholders on these reforms. A consultation ran from 27 October 2021 to 30 January 2022, and the Treasury is now analysing the responses.</p><p>Further detail about the impact of reforms on producers will be included in a tax information and impact note when the policy is final, or near final, in the usual way.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately grouped question UIN 125008 125009 question first answered 25/02/2022 14:43:45 answering member 4527 label Biography information for Helen Whately
tabling member	1447 label Biography information for Andrew Rosindell