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830145

	registered interest
	date	24/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent steps he has taken to promote tax simplification.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	124820
	answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>The government is committed to having a tax system that is simple to understand and easy to comply with. At Budget the government took a number of practical steps to simplify the tax rules for businesses and charities which included:</p><ul><li>Extending the option of using mileage rates to property businesses,</li><li>Ending receipt checking on subsistence costs and</li><li>Simplifying the Gift Aid donor benefits rules for charities.</li></ul><p> </p><p>These measures build on the action taken by the government since 2010 to simplify the tax system including:</p><ul><li>Establishing the Office of Tax Simplification and then putting it on a permanent, statutory basis</li><li>Implementing around half of the OTS’s recommendations since 2010.</li></ul> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:49:15 answering member 3935 label Biography information for Mel Stride
	tabling member	1586 label Biography information for Adam Afriyie

830170

	registered interest
	date	24/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Customs
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what plans his Department has to increase the efficiency of customs clearance processes.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	124836
	answer	answer is ministerial correction date of answer 01/02/2018 answer text <p>The new CDS (Customs Declaration Service) will replace the current customs declaration computer system (CHIEF) in January 2019. CDS will provide businesses engaged in international trade with a robust, modern and flexible customs declaration service.</p><p> </p><p>‘The Customs Future Partnership Paper’ published on 15 August 2017 sets out the Government’s aspirations for future customs arrangements with the EU. The two new models proposed are:</p><p>- A highly streamlined customs arrangement</p><p>- A new customs partnership with the EU</p><p> </p><p>The precise nature of any new customs arrangement will be determined in negotiations with the EU.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 01/02/2018 14:47:26 answering member 3935 label Biography information for Mel Stride
	tabling member	1586 label Biography information for Adam Afriyie

830146

	registered interest
	date	24/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what role financial technology plays in promoting financial inclusion; and if he will make a statement.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	124821
	answer	answer is ministerial correction date of answer 31/01/2018 answer text <p>Financial technology plays an important role in promoting financial inclusion and capability. Banks and fintech firms use new technology to make it easy for consumers to save and invest money, receive better financial advice, and access cheaper, more appropriate loans and overdrafts.</p> answering member constituency Salisbury answering member printed John Glen question first answered 31/01/2018 14:51:08 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

832915

	registered interest
	date	29/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Bank Services: Competition
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the effectiveness of Open Banking in encouraging consumers to switch current accounts.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	125231
	answer	answer is ministerial correction date of answer 05/02/2018 answer text <p>The Current Account Switch Service (CASS), have conducted research which suggests that Open Banking will allow consumers to better understand the value of their current account, and compare it with competing products, potentially leading to an increase in switching. CASS will continue to monitor the impact of Open Banking on account switching.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 05/02/2018 15:11:44 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

833804

	registered interest
	date	30/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent steps he has taken to promote financial technology.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	125562
	answer	answer is ministerial correction date of answer 07/02/2018 answer text <p>Fintech offers a significant opportunity for the financial sector, providing new jobs and delivering benefits to consumers through increased competition and innovation. It contributes £6.6bn annually to the UK economy, employing 60,000 people across 1,600 companies.</p><p> </p><p>The most recent step taken to promote the UK’s fintech industry, is the government’s second International Fintech Conference, due to be held on 22 March 2018. The conference will help showcase the UK fintech sector to investors from across the globe.</p><p> </p><p>The government is continuing to support alternative finance, through implementing proportionate, principles based regimes for peer-to-peer (P2P) and equity-based crowdfunding that balance consumer protection with allowing the sectors to grow and evolve; and various supportive tax measures.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 125567 125568 question first answered 07/02/2018 12:24:05 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

833809

	registered interest
	date	30/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent steps he has taken to promote alternative finance.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	125567
	answer	answer is ministerial correction date of answer 07/02/2018 answer text <p>Fintech offers a significant opportunity for the financial sector, providing new jobs and delivering benefits to consumers through increased competition and innovation. It contributes £6.6bn annually to the UK economy, employing 60,000 people across 1,600 companies.</p><p> </p><p>The most recent step taken to promote the UK’s fintech industry, is the government’s second International Fintech Conference, due to be held on 22 March 2018. The conference will help showcase the UK fintech sector to investors from across the globe.</p><p> </p><p>The government is continuing to support alternative finance, through implementing proportionate, principles based regimes for peer-to-peer (P2P) and equity-based crowdfunding that balance consumer protection with allowing the sectors to grow and evolve; and various supportive tax measures.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 125562 125568 question first answered 07/02/2018 12:24:05 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

833810

	registered interest
	date	30/01/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the contribution of financial technology to the UK’s financial sector.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	125568
	answer	answer is ministerial correction date of answer 07/02/2018 answer text <p>Fintech offers a significant opportunity for the financial sector, providing new jobs and delivering benefits to consumers through increased competition and innovation. It contributes £6.6bn annually to the UK economy, employing 60,000 people across 1,600 companies.</p><p> </p><p>The most recent step taken to promote the UK’s fintech industry, is the government’s second International Fintech Conference, due to be held on 22 March 2018. The conference will help showcase the UK fintech sector to investors from across the globe.</p><p> </p><p>The government is continuing to support alternative finance, through implementing proportionate, principles based regimes for peer-to-peer (P2P) and equity-based crowdfunding that balance consumer protection with allowing the sectors to grow and evolve; and various supportive tax measures.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 125562 125567 question first answered 07/02/2018 12:24:05 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

850750

	registered interest
	date	27/02/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of RegTech's potential effect on reducing the administrative burden of regulation.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	129986
	answer	answer is ministerial correction date of answer 07/03/2018 answer text <p>RegTech has significant potential to reduce the administrative burden of regulation. The Financial Conduct Authority is already aware of the opportunities associated with RegTech, and have run a series of ‘tech sprints’ intended to address specific industry challenges.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 07/03/2018 13:47:09 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

155745

	registered interest
	date	17/11/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps he has taken to encourage more foreign direct investment in UK companies.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	214745
	answer	answer is ministerial correction date of answer 24/11/2014 answer text <p><strong>In 2013-14 the UK attracted 1,773 foreign direct investment projects, giving a total stock of £1.6 trillion of such investments - more than any other country apart from the USA. During this Parliament the Government has taken action to make the UK a more attractive location to run a business including reducing corporation tax so that it will reach 20% next year – the lowest in the G20 - and investing in skills, science and infrastructure. The Government has also increased resources at UK Trade and Investment including for example establishing private sector-led teams in the Gulf, Central Europe, and South America dedicated to attracting inward investment into the UK. </strong></p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 24/11/2014 17:43:50 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1586 label Biography information for Adam Afriyie

177084

	registered interest
	date	02/02/2015
	answering body	HM 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 Mr Chancellor of the Exchequer, what recent steps he has taken to encourage banks to offer their services to money service businesses.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	222940
	answer	answer is ministerial correction date of answer 04/02/2015 answer text <p>The UK Government is committed to supporting a healthy and legitimate remittance sector, and ensuring that UK citizens are able to continue to remit funds safely to family abroad. That is why, in response to the withdrawal of banking services from the Money Service Business sector we set up an Action Group on Cross Border Remittances to address this issue. The group is monitoring changes to the market, has developed guidance for MSBs and banks and is promoting a shared understanding of risk. The group is also overseeing the development of a Safer Corridor to ensure the continued, secure flow of remittances to Somalia.</p><p> </p><p> </p><p> </p><p>Treasury Ministers have been engaging closely with the banking industry both through the British Bankers Association and directly with those banks involved in this issue, including personally writing to and phoning a number of banks.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 04/02/2015 12:29:59 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1586 label Biography information for Adam Afriyie