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1156176

registered interest
date	24/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the benefits to the UK's economy over the next 10 years of the UK leaving the EU.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	4909
answer	answer is ministerial correction date of answer 29/10/2019 answer text <p>Agreeing the Withdrawal Agreement is self-evidently in our economic interest. It would bring an end to the damaging uncertainty and delay of the past years, and allow businesses to get on with taking decisions, including around recruitment and investment.</p><p> </p><p>Approving the Withdrawal Agreement would also allow us to get on with the process of agreeing a mutually beneficial new trading relationship with our European friends - a comprehensive and ambitious free trade agreement (FTA). Leaving the Customs Union and Single Market allows the UK to pursue an ambitious FTA with the EU as sovereign equals, as well as striking trade deals with other international partners.</p><p> </p><p>The specifics of our own agreement will be the subject of the next phase of negotiations. We will keep Parliament updated throughout those discussions and provide analysis at appropriate points.</p><p> </p><p>The OBR will, of course, continue to take Government policy – including the UK’s future relationship with the EU – as the basis for its economic and fiscal forecasts, and will provide its usual comprehensive analysis as part of these.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 29/10/2019 13:51:35 answering member 4051 label Biography information for John Glen
tabling member	116 label Biography information for Lord Soames of Fletching

1151918

registered interest
date	23/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Cryptocurrencies
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 effectiveness of the regulation in the cryptocurrencies in the UK; and if he will make a statement.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	4242
answer	answer is ministerial correction date of answer 28/10/2019 answer text <p>The Cryptoassets Taskforce, consisting of HM Treasury, the Bank of England and the Financial Conduct Authority (FCA), published its report in October 2018. It concluded that strong action should be taken to address the risks associated with cryptoassets that fall within existing regulatory frameworks, and that further consultation and international coordination is required for those cryptoassets that pose new challenges to traditional forms of financial regulation, and fall outside the existing regulatory framework.</p><p> </p><p>Since the report, the FCA has consulted and issued final guidance on the regulatory perimeter in relation to cryptoassets, and HMT has consulted on the transposition of the 5th Anti-Money Laundering Directive (5AMLD), which will bring cryptoasset exchanges and custodian wallet providers within the scope of anti-money laundering and counter-terrorist financing regulation.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 28/10/2019 14:03:09 answering member 4051 label Biography information for John Glen
tabling member	116 label Biography information for Lord Soames of Fletching

1135556

registered interest
date	28/06/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential effect on (a) financial services and (b) the wider service economy of the UK leaving the EU without an agreement.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	270692
answer	answer is ministerial correction date of answer 03/07/2019 answer text <p>As a responsible Government, we have been preparing for a range of potential EU exit outcomes for over two years, including the possibility of no deal.</p><p>In November 2018 the Government published a detailed set of economic analyses on the long-term impacts of EU exit on the UK economy, its sectors, nations and regions, and the public finances.</p><p>The analysis shows that the spectrum of outcomes for the future UK-EU relationship would deliver significantly higher economic output than the no deal scenario. Every sector, nation and region would be better-off than in a no deal scenario.</p><p>The complete analysis can be found in the “EU Exit: Long-Term Economic Analysis” paper, available on the Gov.uk website in Exiting the European Union: Publications section.</p> answering member constituency Salisbury answering member printed John Glen question first answered 03/07/2019 16:05:28 answering member 4051 label Biography information for John Glen
tabling member	116 label Biography information for Lord Soames of Fletching

1126679

registered interest
date	14/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Trade Barriers: China and USA
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 on the (a) UK and (b) global economy of a US-China trade war.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	254057
answer	answer is ministerial correction date of answer 20/05/2019 answer text <p>HM Government continuously monitors the global economy, and the Office for Budget Responsibility (OBR) produces the Government’s official economic forecasts. The OBR’s most recent forecast was published in March 2019 and can be accessed at https://obr.uk/efo/economic-fiscal-outlook-march-2019/. The UK economy remains resilient, growing for the ninth consecutive year in 2018. The employment rate is currently at a record high, unemployment is currently at its lowest rate since 1974, and real wages are rising.</p><p> </p><p>In October 2018 the IMF estimated the impact of a trade tensions escalation. They estimated the impact would be global real GDP 0.2% lower in 2019 and 0.21% lower in the long term. The analysis also highlighted that the near term negative impact could be exacerbated by a decline in confidence and market reaction.</p><p> </p><p>The UK has consistently stressed the importance of de-escalating trade tensions, which are in no one’s interest.</p> answering member constituency Salisbury answering member printed John Glen question first answered 20/05/2019 15:59:11 answering member 4051 label Biography information for John Glen
tabling member	116 label Biography information for Lord Soames of Fletching

1126680

registered interest
date	14/05/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Trade Barriers: China and USA
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what representations he has made to the (a) US Administration and (b) Government of China on the potential effect on the UK economy of a US-China trade war.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	254058
answer	answer is ministerial correction date of answer 20/05/2019 answer text <p>The Chancellor engages regularly with international counterparts on issues relating to the global economy. The UK has consistently stressed the importance of de-escalating trade tensions, which are in no one’s interest. We have been clear in our opposition to escalating tariffs which could result in fundamental disruption to global trade flows. This would clearly have a negative effect on the global economy. We will continue to work with our partners to support the rules-based international trading system.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 20/05/2019 15:56:06 answering member 4051 label Biography information for John Glen
tabling member	116 label Biography information for Lord Soames of Fletching

971692

registered interest
date	11/09/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Foreign Companies: Russia
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what guidance his Department has issued to the Listing Authorities on the suitability of Russian-controlled companies that apply to be listed on the London Stock Exchange.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	173490
answer	answer is ministerial correction date of answer 14/09/2018 answer text <p>The Financial Conduct Authority (FCA) is the competent authority for listings and operates independently of Government. For listed companies, the UK Listing Authority (a division of the FCA) monitors and enforces compliance with the Listing Rules. The decision to approve an application for listing rests with the FCA and for admission to trading with the London Stock Exchange.</p> answering member constituency Salisbury answering member printed John Glen question first answered 14/09/2018 10:44:04 answering member 4051 label Biography information for John Glen
tabling member	116 label Biography information for Lord Soames of Fletching

861194

registered interest
date	13/03/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income: Mid Sussex
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, if he will make an assessment of the effect of recent increases in the National Living Wage and the personal allowance on the personal incomes of Mid Sussex constituents.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	132343
answer	answer is ministerial correction date of answer 16/03/2018 answer text <p>The government is committed to supporting working families and ensuring they retain more of what they earn. Following increases to the personal allowance threshold and National Living Wage that will come into effect across the UK from April, a full-time worker earning the National Living Wage in Mid Sussex will be taking home over £3,800 more per year after tax compared to a full-time minimum wage worker in 2010.</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 16/03/2018 13:17:48 answering member 3935 label Biography information for Mel Stride
tabling member	116 label Biography information for Lord Soames of Fletching

385398

registered interest
date	24/06/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Defence: Expenditure
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what recent discussions his Department has had with (a) NATO, (b) the OECD and (c) the UN on the definition of (i) defence expenditure and (ii) official development expenditure; and if he will make a statement.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	3970
answer	answer is ministerial correction date of answer 30/06/2015 answer text <p>The Treasury has not had any recent discussions with NATO, the OECD or the UN on the definition of Defence expenditure. NATO publishes its own definition of Defence Expenditure and the UK categorises defence spending fully in accordance with these guidelines.</p><p> </p><p> </p><p> </p><p>The OECD’s Development Assistance Committee is responsible for the definition of official development assistance (ODA) and produces guidance on detailed aspects of this. The UK is a member of the Development Assistance Committee and UK officials attend regular technical meetings.</p><p> </p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 30/06/2015 09:56:43 answering member 1526 label Biography information for Greg Hands
tabling member	116 label Biography information for Lord Soames of Fletching

224649

registered interest
date	03/03/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Infrastructure
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what steps he is taking to increase the issuance of infrastructure project bonds; and if he will make a statement.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	225954
answer	answer is ministerial correction date of answer 11/03/2015 answer text <p>Project bonds are an important way of financing infrastructure from capital markets and the Government is supporting the use of project bonds for infrastructure in a number of ways.</p><p> </p><p> </p><p> </p><p>The UK Guarantees Scheme (UKGS) helps infrastructure projects access capital market finance by enabling them to issue government-backed bonds.</p><p> </p><p> </p><p> </p><p>The UKGS is a temporary intervention and is due to close in December 2016. The government will be engaging with industry on the future of the Scheme over the coming months.</p><p> </p><p> </p><p> </p><p>The Government also supports the development of project bonds through the European Commission and European Investment Bank’s Project Bond Initiative. The Project Bond Credit Enhancement (PBCE) under this initiative is supporting the project bond market by improving the credit quality of senior bonds issued by project promoters through a loan or contingent facility provided by the EIB.</p><p> </p><p> </p><p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 11/03/2015 14:15:16 answering member 1535 label Biography information for Danny Alexander
tabling member	116 label Biography information for Lord Soames of Fletching

224651

registered interest
date	03/03/2015
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Private Partnerships
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, what the value is of off-balance sheet public-private partnerships.
tabling member constituency	Mid Sussex
tabling member printed	Sir Nicholas Soames
uin	226030
answer	answer is ministerial correction date of answer 05/03/2015 answer text <p>A spreadsheet containing data on all operational PFI projects can be found on the following link, <a href="https://www.gov.uk/government/publications/private-finance-initiative-projects-2014-summary-data" target="_blank">www.gov.uk/government/publications/private-finance-initiative-projects-2014-summary-data</a>. Balance sheet treatments for each project are recorded in columns O, P and Q and the capital value is recorded in column R.</p><p> </p><p> </p><p> </p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 05/03/2015 16:58:40 answering member 1535 label Biography information for Danny Alexander
tabling member	116 label Biography information for Lord Soames of Fletching