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1401570

	registered interest
	date	10/01/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bounce Back Loan Scheme
	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 support businesses that have not sufficiently recovered from the impact of the covid-19 pandemic to be able to afford repayments on their Bounce Back Loans, even after they have taken advantage of the six month repayment holiday.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	100565
	answer	answer is ministerial correction date of answer 13/01/2022 answer text <p>Any business concerned about repayments should get in touch with their lender who will be able to provide support and talk them through their options.</p><p> </p><p>In order to give businesses who have borrowed under the Bounce Back Loan Scheme further support and flexibility in making their repayments, the Chancellor announced “Pay as You Grow” (PAYG) options in September 2020. In addition to the six month full repayment holiday, PAYG gives businesses the option to extend their Bounce Back Loan repayments over ten years, reducing their average monthly repayments on the loan by almost half. Businesses also have the option to move to interest-only payments for periods of up to six months (an option which they can use up to three times). If borrowers want to take advantage of these options, they should notify their lender.</p> answering member constituency Salisbury answering member printed John Glen question first answered 13/01/2022 15:04:29 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1296787

	registered interest
	date	02/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Pool Re: Disasters
	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 merits of extending the scope of Pool Re insurance to cover all major incidents and disasters in the UK.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	161778
	answer	answer is ministerial correction date of answer 08/03/2021 answer text <p>We are working closely with the insurers, the trade bodies and regulators to understand what more the industry can do to help individuals and businesses during the current crisis, and to learn lessons for future risks.</p><p> </p><p>Whilst the scope of the current Government review of Pool Re is limited to its role as a reinsurer of terrorism risk, the conclusions from this work will also have important implications for how we manage systemic risks more broadly.</p> answering member constituency Salisbury answering member printed John Glen question first answered 08/03/2021 08:11:41 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1302954

	registered interest
	date	16/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bounce Back Loan Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will work with banks to allow businesses to defer repayment of bounce back loans until they can reopen once covid-19 restrictions are eased.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	169866
	answer	answer is ministerial correction date of answer 23/03/2021 answer text <p>Under the Bounce Back Loan scheme, no repayments are due from the borrower for the first 12 months of the loan, giving businesses the breathing space they need during this difficult time. In addition, the Government covers the first 12 months of interest payments charged to the business by the lender.</p><p> </p><p>In order to give businesses further support and flexibility in making their repayments, the Chancellor has announced “Pay as You Grow” (PAYG) options. PAYG will give businesses the option to repay their Bounce Back loan over ten years. This will reduce their average monthly repayments on the loan by almost half. Businesses will also have the option to move temporarily to interest-only payments for periods of up to six months (an option which they can use up to three times), or to pause their repayments entirely for up to six months. Given the continued challenges businesses are facing, HM Treasury has opted to make the full repayment holiday available to borrowers from the first repayment, which means that businesses can choose to make no payments on their loans until 18 months after they originally took them out. If borrowers want to take advantage of this option, they should notify their lender when they are contacted about their repayments.</p><p> </p><p>Together, the 12-month payment holiday and interest-free period for borrowers, along with the PAYG options, form a generous part of the Government’s unprecedented support package for businesses to protect jobs - including paying wages through the furlough schemes and self-employed support payments, generous grants, tax deferrals.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/03/2021 15:10:34 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1304774

	registered interest
	date	22/03/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bounce Back Loan Scheme
	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 businesses of reclaiming Coronavirus Bounce Back Loans from firms that are unable to open until permitted to do so under the easing of covid-19 restrictions.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	173053
	answer	answer is ministerial correction date of answer 25/03/2021 answer text <p>The Government has already taken action to give businesses the flexibility and space they need to repay Bounce Back loans. No repayments are due from the borrower for the first 12 months of the loan, giving businesses the breathing space they need during this difficult time. In addition, the Government covers the first 12 months of interest payments charged to the business by the lender.</p><p> </p><p>In order to give businesses further support in making their repayments, the Chancellor has announced “Pay as You Grow” (PAYG) options. PAYG will give businesses the option to repay their Bounce Back loan over ten years. This will reduce their average monthly repayments on the loan by almost half. Businesses will also have the option to move temporarily to interest-only payments for periods of up to six months (an option which they can use up to three times). They can also pause their repayments entirely for up to six months – and given the continued challenges businesses are facing, HM Treasury has opted to enable borrowers to make use of this option from the first repayment, which means that businesses can choose to make no payments on their loans until 18 months after they originally took them out. If borrowers want to take advantage of this option, they should notify their lender when they are contacted about their repayments.</p><p> </p><p>Together, the 12-month payment holiday and interest-free period for borrowers, along with the PAYG options, form a generous part of the Government’s unprecedented support package for businesses to protect jobs - including paying wages through the furlough schemes and self-employed support payments, generous grants, tax deferrals.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 25/03/2021 07:49:24 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1625158

	registered interest
	date	02/05/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Employment: Musculoskeletal Disorders
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the £406 million provided in the Spring Budget 2023 to help tackle the leading health causes keeping people out of work, how much and what proportion of that funding will be allocated to people with musculoskeletal conditions.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	183427
	answer	answer is ministerial correction date of answer 10/05/2023 answer text <p>The Budget document includes a breakdown of spending on policies to tackle ill-health related labour market inactivity announced at Spring Budget 2023. This includes policies targeted at responding to musculoskeletal conditions.</p><p> </p><p>This information was published in the <a href="https://gbr01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fassets.publishing.service.gov.uk%2Fgovernment%2Fuploads%2Fsystem%2Fuploads%2Fattachment_data%2Ffile%2F1144441%2FWeb_accessible_Budget_2023.pdf&amp;data=05%7C01%7Ctristan.westgate%40hmtreasury.gov.uk%7C3260d9d6bbeb4049735808db4be148e5%7Ced1644c505e049e6bc39fcf7ac51c18c%7C0%7C0%7C638187204081056645%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=HYBCOGMnA9pTc1qkf%2Fwhfbw4tXH8eUOfOXvAJz1xnw4%3D&amp;reserved=0" target="_blank">Spring Budget published document</a> –Table 4.1, page 76.</p> answering member constituency Salisbury answering member printed John Glen question first answered 10/05/2023 14:59:33 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1185683

	registered interest
	date	17/03/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the guidance published by Public Health England on 16 March 2020, what plans he has to provide additional underwriting to SMEs that will be affected by social distancing.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	30773
	answer	answer is ministerial correction date of answer 23/03/2020 answer text For businesses which have a policy that covers pandemics, the government’s action is sufficient and will allow businesses to make an insurance claim against their policy. Furthermore, we are providing £10,000 grants to over 700,000 SMEs across England, and increased grants for qualifying retail, hospitality and leisure businesses of up to £25,000 per property. These measures are part of a wider, unprecedented package of support for businesses and workers to ensure as best we can that people remain employed and firms financially secure. The Government stands ready to do whatever it takes to support businesses through this outbreak. answering member constituency Salisbury answering member printed John Glen question first answered 23/03/2020 16:59:55 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1190550

	registered interest
	date	27/04/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Department for Work and Pensions: Loans
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps the Financial Conduct Authority takes to oversee and regulate loans made by the Department for Work and Pensions.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	40456
	answer	answer is ministerial correction date of answer 04/05/2020 answer text <p>In 2014, regulatory responsibility for the consumer credit market was transferred to the Financial Conduct Authority (FCA). Whilst the FCA is responsible for regulating this market, HM Treasury sets the regulatory perimeter which informs the types of agreements that fall under the FCA’s remit. Loans made by the Department for Work and Pensions (DWP) do not fall within the FCA’s regulatory remit. For that reason, the FCA has not assessed the impact of these loans on the functioning of the market.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 40457 question first answered 04/05/2020 10:28:37 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1190602

	registered interest
	date	27/04/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Department for Work and Pensions: Loans
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what proportion of short term loans are made by the Department for Work and Pensions; and what assessment the Financial Conduct Authority has made of the effect of those loans on the functioning of the market.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	40457
	answer	answer is ministerial correction date of answer 04/05/2020 answer text <p>In 2014, regulatory responsibility for the consumer credit market was transferred to the Financial Conduct Authority (FCA). Whilst the FCA is responsible for regulating this market, HM Treasury sets the regulatory perimeter which informs the types of agreements that fall under the FCA’s remit. Loans made by the Department for Work and Pensions (DWP) do not fall within the FCA’s regulatory remit. For that reason, the FCA has not assessed the impact of these loans on the functioning of the market.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 40456 question first answered 04/05/2020 10:28:37 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1196236

	registered interest
	date	14/05/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions officials in his Department have had with representatives of insurance providers on ensuring that business interruption clauses are upheld for claims made as a result of the covid-19 pandemic.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	47311
	answer	answer is ministerial correction date of answer 26/05/2020 answer text <p>The Government is in continual dialogue with the insurance sector to understand and influence its response to this unprecedented situation and is encouraging insurers to do all they can to support customers during this difficult period.</p><p><strong> </strong></p><p>The Government is working closely with the Financial Conduct Authority (FCA) to ensure that the rules are being upheld during this crisis and fully supports the regulator in its role. The FCA rules require insurers to handle claims fairly and promptly; provide reasonable guidance to help a policyholder make a claim; not reject a claim unreasonably; and settle claims promptly once settlement terms are agreed. In addition, the FCA has said that, in light of COVID-19, insurers must consider very carefully the needs of their customers and show flexibility in their treatment of them.</p><p> </p><p>However, it is important to note that most businesses have not purchased insurance that covers losses from non-property damage. Additionally, while some policies cover losses arising from any disease classed as notifiable by the government, or a denial of access to a building, most of these policies only cover a specific list of notifiable diseases or an incident specifically on the premises of the business. Insurance policies differ significantly, so businesses are encouraged to check the terms and conditions of their specific policy and contact their providers. The terms of a policy cannot be changed retrospectively.</p><p> </p><p>The Government encourages businesses to seek assistance through the wider support package if they are in financial difficulty. Businesses should explore the full package of support set out by the Chancellor in recent weeks, including measures such as business rates holidays, the Coronavirus Business Interruption Loan Scheme, and wage support.</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/05/2020 13:58:43 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle

1173447

	registered interest
	date	27/01/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Coinage
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate he has made of the manufacturing cost per coin of the commemorative 50 pence coins that are due to enter circulation on 31 January 2020 to mark the UK’s departure from the EU.
	tabling member constituency	Bermondsey and Old Southwark
	tabling member printed	Neil Coyle
	uin	8331
	answer	answer is ministerial correction date of answer 30/01/2020 answer text <p>Any coins issued into circulation will meet existing demand for 50ps. There is no additional cost in minting coins with one design over another.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/01/2020 15:08:15 answering member 4051 label Biography information for John Glen
	tabling member	4368 label Biography information for Neil Coyle