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759194

	registered interest
	date	11/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Economic Situation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the potential effect on the country's gross domestic product of the UK leaving the EU without a deal.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	10008
	answer	answer is ministerial correction date of answer 19/09/2017 answer text <p>Government has undertaken a significant amount of work to assess the economic impacts of leaving the EU. This is part of our continued programme of rigorous and extensive analytical work on a range of scenarios on a sector by sector basis.</p><p> </p><p>All departments need to prepare not just for a negotiated settlement, but also for the no deal scenario. We are confident that we will secure a deal, but are prepared should there be no deal.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 19/09/2017 10:22:29 answering member 4095 label Biography information for Steve Barclay
	tabling member	4131 label Biography information for Jim Shannon

759630

	registered interest
	date	12/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Credit Cards: Debts
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what representations he has received on the practice of credit card lenders targeting individuals who have unaffordable levels of debt.
	tabling member constituency	Hornsey and Wood Green
	tabling member printed	Catherine West
	uin	10027
	answer	answer is ministerial correction date of answer 19/09/2017 answer text <p>Treasury ministers and officials have meetings with a wide variety of organisations in the public and private sector as part of the process of policy development and delivery.</p><p>Regulation of consumer credit, including credit cards, is the responsibility of the Financial Conduct Authority (FCA). The FCA conducted a credit card market study in November 2014 and published its final report in July 2016. Following this, it consulted in April 2017 on proposed remedies to tackle persistent debt in the credit card market. The government will continue to work with the FCA to ensure that customers are treated fairly<strong>.</strong></p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 19/09/2017 10:55:58 answering member 4095 label Biography information for Steve Barclay
	tabling member	4523 label Biography information for Catherine West

759861

	registered interest
	date	12/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Balance of Payments
	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 reduce the balance of payments deficit; and if he will make a statement.
	tabling member constituency	Shipley
	tabling member printed	Philip Davies
	uin	10042
	answer	answer is ministerial correction date of answer 20/09/2017 answer text <p>The current account deficit has widened due to a worsening in investment income, as returns on investments in the UK have been higher than the income earned by the UK on investment abroad. As the world economy recovers the current account deficit should narrow, in line with the Office for Budget Responsibility’s forecast of -2.0% of GDP in 2021<strong>. </strong>The Government is supporting exports through UK Export Finance which has provided £14bn in support for UK exporters in the last five years and <strong>t</strong>he Department for International Trade helping over 2,800 businesses who are new to exporting.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 20/09/2017 13:01:28 answering member 4095 label Biography information for Steve Barclay
	tabling member	1565 label Biography information for Sir Philip Davies

759631

	registered interest
	date	12/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Private Rented Housing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the number of homes bought as buy to let in January to June (a) 2016 and (b) 2017.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	10056
	answer	answer is ministerial correction date of answer 09/10/2017 answer text <p>Data from UK Finance shows that the number of UK homes bought as buy-to-let between January and June 2016 was 63,800, and the number of UK homes bought as buy-to-let between January and June 2017 was 36,300.</p><p> </p><p>A significant increase in buy-to-let transaction volumes occurred in March 2016. This preceded changes to Stamp Duty Land Tax, which introduced a 3% surcharge on purchases of Buy-to-Let properties.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 09/10/2017 13:09:17 answering member 4095 label Biography information for Steve Barclay
	tabling member	1409 label Biography information for Mr Gregory Campbell

759676

	registered interest
	date	12/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Universities: EU Grants and Loans
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that universities with European Investment Bank loans are not affected by changes in the legal terms of their loans as a result of the UK leaving the EU.
	tabling member constituency	North East Fife
	tabling member printed	Stephen Gethins
	uin	10150
	answer	answer is ministerial correction date of answer 20/09/2017 answer text <p>Contracts signed between the European Investment Bank (EIB) Group and UK counterparties are matters for the parties. They do not contain any provisions relating to the departure of a member state from the EU. The UK is in the process of negotiating what its future relationship with the EIB will be, but the government is clear that the UK’s exit from the EU on its own does not change existing EIB Group contracts with UK counterparties.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 20/09/2017 13:04:00 answering member 4095 label Biography information for Steve Barclay
	tabling member	4434 label Biography information for Stephen Gethins

759625

	registered interest
	date	12/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Loans: Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the number of people who have had loans approved at the advertised representative APR rates for loan products.
	tabling member constituency	Chesterfield
	tabling member printed	Toby Perkins
	uin	10192
	answer	answer is ministerial correction date of answer 09/10/2017 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market, transferring regulatory responsibility from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) in April 2014. This more robust regulatory system is helping to deliver the Government’s vision for a well-functioning and sustainable consumer credit market which is able to meet consumers’ needs. Treasury ministers and officials meet regularly with the FCA to discuss relevant regulatory issues.</p><p> </p><p>The Government does not hold the requested estimate, but the FCA’s rules require firms to reasonably expect that in at least 51% of credit agreements entered into as a result of a promotion, credit will be provided to the consumer at the representative APR or lower. The FCA’s rules also require firms to ensure that their communications and financial promotions are fair, clear and not misleading. The FCA is able to impose tough sanctions, such as banning products, imposing unlimited fines and ordering firms to pay money back to customers, where wrongdoing is found.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 10193 question first answered 09/10/2017 13:12:31 answering member 4095 label Biography information for Steve Barclay
	tabling member	3952 label Biography information for Mr Toby Perkins

759626

	registered interest
	date	12/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Loans: Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the number of customers offered loans at a higher rate than that advertised by UK financial institutions.
	tabling member constituency	Chesterfield
	tabling member printed	Toby Perkins
	uin	10193
	answer	answer is ministerial correction date of answer 09/10/2017 answer text <p>The Government has fundamentally reformed regulation of the consumer credit market, transferring regulatory responsibility from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) in April 2014. This more robust regulatory system is helping to deliver the Government’s vision for a well-functioning and sustainable consumer credit market which is able to meet consumers’ needs. Treasury ministers and officials meet regularly with the FCA to discuss relevant regulatory issues.</p><p> </p><p>The Government does not hold the requested estimate, but the FCA’s rules require firms to reasonably expect that in at least 51% of credit agreements entered into as a result of a promotion, credit will be provided to the consumer at the representative APR or lower. The FCA’s rules also require firms to ensure that their communications and financial promotions are fair, clear and not misleading. The FCA is able to impose tough sanctions, such as banning products, imposing unlimited fines and ordering firms to pay money back to customers, where wrongdoing is found.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay grouped question UIN 10192 question first answered 09/10/2017 13:12:31 answering member 4095 label Biography information for Steve Barclay
	tabling member	3952 label Biography information for Mr Toby Perkins

760041

	registered interest
	date	13/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Workplace Pensions: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the cost to the public purse of providing the 20 per cent tax relief to non-taxpayers enrolled in net-pay-arrangement defined contribution pension schemes on the same basis as is provided in relief-at-source schemes; and how many people are not benefiting from that relief.
	tabling member constituency	Birkenhead
	tabling member printed	Frank Field
	uin	10359
	answer	answer is ministerial correction date of answer 09/10/2017 answer text <p>No estimate has been carried out on the cost of providing tax relief for non-taxpayers enrolled in net-pay schemes. Legislation determines the difference between net-pay and relief-at-source systems, and ultimately, it is for pension schemes to choose which to apply. To help employers choose an appropriate pension scheme, The Pensions Regulator offers guidance, including information on the different methods by which tax incentives are obtained.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 09/10/2017 12:53:27 answering member 4095 label Biography information for Steve Barclay
	tabling member	478 label Biography information for Lord Field of Birkenhead

760043

	registered interest
	date	13/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: EU Action
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, whether existing contracts that underpin cross-border financial transactions within the EU of financial institutions based in the UK will continue to be valid when the UK has left the EU.
	tabling member constituency	Leeds Central
	tabling member printed	Hilary Benn
	uin	10390
	answer	answer is ministerial correction date of answer 09/10/2017 answer text <p>The Government continues to work with the Bank of England and Financial Conduct Authority to assess how the UK’s exit from the EU could impact financial services firms, and is alive to the risk that the UK’s withdrawal could in some cases create legal uncertainties regarding the status of existing cross-border financial services contracts.</p><p> </p><p>As noted in the record of its meeting on 20 September 2017, these and other issues that the Financial Policy Committee (FPC) have identified pose risks to the provision of financial services in both the European Union and the United Kingdom. The FPC also highlighted in its June Financial Stability Report the risk of market fragmentation as the UK leaves the EU, which could result in higher costs and greater risks for both EU and UK companies and households.</p><p> </p><p>There is a shared interest for both the UK and the EU in ensuring that we avoid outcomes that impose unnecessary costs and disruption to UK and EU individuals and businesses as the UK leaves the EU.</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 09/10/2017 15:53:10 answering member 4095 label Biography information for Steve Barclay
	tabling member	413 label Biography information for Hilary Benn

760047

	registered interest
	date	13/09/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	New Businesses: EU Grants and Loans
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 12 September 2017 to Question 7295, how much funding UK companies have received from the (a) European Investment Bank and the (b) European Investment Fund in (i) each of the last three years and (ii) each month of the 2017-18.
	tabling member constituency	Nottingham North
	tabling member printed	Alex Norris
	uin	10429
	answer	answer is ministerial correction date of answer 10/10/2017 answer text <p>This information is all publicly available.</p><p> </p><p>The European Investment Bank (EIB) publishes details of all projects including dates of approval and signature and total signed amounts. Information on UK EIB projects can be found in the link below.</p><p> </p><p><a href="http://www.eib.org/projects/loan/list/?region=1&amp;country=GB" target="_blank">http://www.eib.org/projects/loan/list/?region=1&amp;country=GB</a></p><p> </p><p>The European Investment Fund also publish information on all newly signed operations on their website including signature dates and amounts invested. This can be found in the link below.</p><p> </p><p><a href="http://www.eif.org/news_centre/press_releases/all/index.htm" target="_blank">http://www.eif.org/news_centre/press_releases/all/index.htm</a></p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 10/10/2017 12:54:57 answering member 4095 label Biography information for Steve Barclay
	tabling member	4641 label Biography information for Alex Norris