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994717

registered interest
date	25/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the future of universal banking in the UK.
tabling member printed	Lord Kennedy of Southwark
uin	HL11033
answer	answer is ministerial correction date of answer 08/11/2018 answer text <p>Financial entities that wish to operate as universal banks are subject to the 2012 Financial Services (Banking Reform) Act. The Act requires large UK banks with retail deposits totaling more than £25 billion to ring-fence the deposits of individuals and small businesses from other activities within their groups, such as investment and international banking. By insulating these core banking services in a separate legal entity, ring-fencing will support continuity of provision of vital services to the economy if there are shocks originating elsewhere in the group and the global financial system. It will also make banks that provide these essential services simpler and more resolvable and therefore prevent the costs of failing banks falling on taxpayers. This restructuring was successfully completed by all UK banks within scope in the summer of 2018 and the regime will come into force in January 2019.</p><p> </p><p>Ring-fencing has been part of the Government’s package of banking reforms since 2010, designed to deliver a stable, sustainable and competitive banking system so banks will be better placed to meet their core purpose of lending to the real economy and contributing to economic growth. As part of this strategy, competition and innovation is at the heart of the Government’s vision for UK financial services to deliver greater choice and value for all.</p><p> </p> answering member printed Lord Bates question first answered 08/11/2018 14:10:18 answering member 1091 label Biography information for Lord Bates
tabling member	4153 label Biography information for Lord Kennedy of Southwark

994718

registered interest
date	25/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Mortgages
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the case for tenant rent payments to be taken into account by mortgage lenders.
tabling member printed	Lord Kennedy of Southwark
uin	HL11034
answer	answer is ministerial correction date of answer 08/11/2018 answer text <p>Whilst meeting rental payments is not sufficient in itself to demonstrate affordability over the lifetime of a loan, the Government believes it is right that a history of paying rent should be recognised in tenants’ credit scores and in affordability assessments.</p><p> </p><p>That’s why, at Autumn Budget 2017, the Government announced the Rent Recognition Challenge: a £2m competition seeking FinTech solutions to enable tenants to record and share their rental data. The Challenge uses the ingenuity of the technology sector to deliver solutions that work for both consumers and businesses.</p><p> </p><p>One of the leading credit reference agencies Experian has recently announced that rental payments will now be reflected in their credit score reports, and is working with winners of the Challenge.</p> answering member printed Lord Bates question first answered 08/11/2018 14:10:49 answering member 1091 label Biography information for Lord Bates
tabling member	4153 label Biography information for Lord Kennedy of Southwark

994721

registered interest
date	25/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Competition
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the impact of challenger banks on the retail banking sector in the UK.
tabling member printed	Lord Kennedy of Southwark
uin	HL11037
answer	answer is ministerial correction date of answer 08/11/2018 answer text <p>Government recognises the crucial role challenger banks play in increasing competition in the retail banking sector by providing customers with more choice on the high street. Current Account Switch Service (CASS) statistics show that some challenger banks have featured amongst the firms with the highest net gains, which indicates the positive impact that they are having on customer choice. Government will continue to encourage an environment that allows challenger banks to thrive.</p> answering member printed Lord Bates question first answered 08/11/2018 15:04:18 answering member 1091 label Biography information for Lord Bates
tabling member	4153 label Biography information for Lord Kennedy of Southwark

988717

registered interest
date	16/10/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Children: Day Care
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many parents in Northern Ireland applied for tax free childcare in each of the last three years.
tabling member constituency	Upper Bann
tabling member printed	David Simpson
uin	180155
answer	answer is ministerial correction date of answer 23/10/2018 answer text <p>The table below provides the number of parents in Northern Ireland who have applied for Tax-Free Childcare (TFC) in each of the last three years. TFC was trialled in 2016 and launched in April 2017.</p><p>We are promoting the scheme across the UK, including a marketing campaign which launched on 10 September 2018, to increase awareness and take-up of Tax-Free Childcare.</p><p> </p><table><tbody><tr><td><p>Years</p></td><td><p>Total Number of Applications</p></td></tr><tr><td><p>2016</p></td><td><p>2</p></td></tr><tr><td><p>2017</p></td><td><p><del class="ministerial">1,039</del> <ins class="ministerial">1,044</ins></p></td></tr><tr><td><p>2018</p></td><td><p><del class="ministerial">2,093</del> <ins class="ministerial">1,301</ins></p></td></tr></tbody></table><p> </p><p> </p><p> </p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 23/10/2018 14:22:46 question first ministerially corrected 14/11/2018 13:36:18 answering member 4097 label Biography information for Elizabeth Truss previous answer version 80216 answering member constituency South West Norfolk answering member printed Elizabeth Truss answering member 4097 label Biography information for Elizabeth Truss
tabling member	1597 label Biography information for David Simpson