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1241431

	registered interest
	date	07/10/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what his Department's policy is on the right of customers to pay in cash.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	100286
	answer	answer is ministerial correction date of answer 15/10/2020 answer text <p>The Government recognises that cash remains important to millions of people across the UK, which is why it has committed to legislate to protect access to cash and to ensure that the UK’s cash infrastructure is sustainable long term.</p><p>The Government remains closely engaged with the financial regulators, including through the Treasury-chaired Joint Authorities Cash Strategy Group, to monitor and assess risks around cash relating to COVID-19. In order to help control the virus, all businesses and individuals are encouraged to follow the latest Government advice. To work safely during COVID-19, retailers have been recommended to minimise contact around transactions, for example, considering using contactless payments. However, it remains the individual retailer’s choice as to whether to accept or decline any form of payment, including cash or card.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/10/2020 10:40:14 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1241432

	registered interest
	date	07/10/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance: Prices
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to respond to the Financial Conduct Authority's report, General insurance pricing practices: Final report, published in September 2020.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	100287
	answer	answer is ministerial correction date of answer 15/10/2020 answer text <p>Consumers should be able to get a fair deal when purchasing insurance. The FCA has set out proposals to deliver this in its report on General Insurance Pricing Practices. We are engaging with the regulator and the sector on next steps and will be interested in the outcome of the FCA’s consultation due in early 2021.</p> answering member constituency Salisbury answering member printed John Glen question first answered 15/10/2020 10:37:57 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1259217

	registered interest
	date	08/12/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	London Capital & Finance Investigation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, when he plans to publish the report by Dame Elizabeth Gloster on London Capital and Finance.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	126777
	answer	answer is ministerial correction date of answer 15/12/2020 answer text <p>As set out in a Written Ministerial Statement on 24 November the Treasury is working with the FCA so that the government can lay before Parliament (and publish online) Dame Elizabeth’s report and the FCA’s response before the December recess. This remains the government’s intention.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 15/12/2020 14:23:12 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1176741

	registered interest
	date	06/02/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts: China
	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 effect of trends in the level of debt in China on the world financial system.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	13414
	answer	answer is ministerial correction date of answer 13/02/2020 answer text <p>As highlighted by several institutions, including the International Monetary Fund, there are material risks associated with indebtedness in China.</p><p> </p><p>The Financial Policy Committee of the Bank of England, which is responsible for monitoring risks to financial stability in the UK, reflected the risk of a severe recession in China, which would encompass factors such as its debt levels, in its 2019 stress tests of UK banks. The FPC concluded that the UK banking system would be resilient to this risk.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 13/02/2020 12:11:46 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1284160

	registered interest
	date	04/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Coronavirus
	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 equity of companies (a) maintaining or (b) increasing (i) dividends and (ii) management bonuses while receiving financial support during the covid-19 outbreak.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	149160
	answer	answer is ministerial correction date of answer 11/02/2021 answer text <p>The Government acted quickly to deliver an unprecedented package of support measures, well-targeted at businesses in genuine need. It is our expectation that everyone should act responsibly and in the spirit of the package, and only claim and use support as intended.</p><p> </p><p>Under the Coronavirus Large Business Interruption Loan Scheme (CLBILS), borrowers are required to restrict dividend payments and are only allowed to make dividends payments which were a) declared before the CLBILS loan was taken out, b) are in keeping with similar dividends payments made in the preceding 12 months, and c) do not have a material negative impact on the borrower’s ability to repay the loan. Firms borrowing more than £50m will be required to agree to defer dividend payments and share buybacks, alongside restrictions on pay and bonuses for senior management. These restrictions remain in place until the loan has been repaid.</p><p> </p><p>Additionally, Companies accessing the Covid Corporate Financing Facility (CCFF) beyond 19 May 2021, are required to defer capital distributions, pay rises and cash bonuses to senior management. The Government continues to keep all measures under constant review.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 11/02/2021 14:17:32 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1135816

	registered interest
	date	01/07/2019
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Juan Guaidó
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has taken steps to release assets held by the Bank of England to the Official Representative to the UK of interim Venezuelan President Juan Guaidó; and if he will make a statement.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	271357
	answer	answer is ministerial correction date of answer 08/07/2019 answer text <p>Assets held on behalf of foreign central banks are a matter for the Bank of England. HM Treasury only has direct control over the UK Government’s own holdings of gold within its official reserves, which are held at the Bank of England.</p> answering member constituency Salisbury answering member printed John Glen question first answered 08/07/2019 12:12:26 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1316417

	registered interest
	date	19/05/2021
	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, with reference to the Answer of 23 April 2021 to Question 180919 on Bitcoin: electricity, what his planned timescale is for providing a common definition for environmentally sustainable economy activities for (a) Bitcoin and (b) other crypto-currencies.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	3796
	answer	answer is ministerial correction date of answer 26/05/2021 answer text <p>The Cryptoasset Taskforce, comprising HM Treasury, the Financial Conduct Authority, and the Bank of England, considers the impact of cryptoassets and assesses what, if any, regulation is required in response. The Government stands ready to respond to emerging risks or changes in the market and will continue to monitor developments in cryptoassets.</p><p> </p><p>In November 2020, the Chancellor announced that the UK will implement a green taxonomy – a common framework for determining which activities can be defined as environmentally sustainable – which will improve understanding of the impact of firms’ activities and investments on the environment and support our transition to a sustainable economy. More details on the green taxonomy will be announced in due course.</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/05/2021 11:47:34 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1193671

	registered interest
	date	06/05/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	European Central Bank: Coronavirus
	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 effect on the (a) UK and (b) world economy of the decision of the German Constitutional Court on funding for the European Central Bank bailout package.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	43834
	answer	answer is ministerial correction date of answer 12/05/2020 answer text <p>HM Treasury regularly monitors global economic developments, including those in the euro area, and their impact on the UK as part of the normal process of policy development. It is not for the UK Government to comment on euro area monetary policy issues.</p> answering member constituency Salisbury answering member printed John Glen question first answered 12/05/2020 11:37:18 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1193672

	registered interest
	date	06/05/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	European Central Bank: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what discussions (a) he, (b) Ministers in his Department and (c) officials in his Department have had with their counterparts in the German Finance Ministry on the decision of the German Constitutional Court on funding for the European Central Bank bailout package.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	43835
	answer	answer is ministerial correction date of answer 12/05/2020 answer text <p>HM Treasury Ministers and Officials regularly speak with their counterparts in Germany. We have been in regular touch regarding our respective countries' response to COVID-19 and will continue to work closely in the weeks to come. It is not for the UK Government to comment on euro area monetary policy issues.</p> answering member constituency Salisbury answering member printed John Glen question first answered 12/05/2020 11:38:29 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar

1196794

	registered interest
	date	18/05/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Debts: China
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 February 2020 to Question 13414 on Debts: China, whether his Department has made a revised assessment of that risk level since the answer was given.
	tabling member constituency	Warley
	tabling member printed	John Spellar
	uin	48268
	answer	answer is ministerial correction date of answer 27/05/2020 answer text <p>Recent data suggests that Chinese debt increased further in the first quarter of 2020, as the Covid-19 shock is pushing public and private borrowing even higher.</p><p>Several institutions, including the International Monetary Fund, raised concerns prior to the Covid-19 outbreak on the risks high levels of Chinese debt could pose to global financial stability. The Covid-19 shock is likely to exacerbate these risks.</p><p>In its interim Financial Stability Report published on 7 May 2020, the Bank of England’s Financial Policy Committee found that major UK banks should remain resilient to the Covid-19 shock to both UK and global economies, including China. HMT will continue to work alongside both the Bank of England and global institutions in monitoring the risks posed by Chinese indebtedness.</p> answering member constituency Salisbury answering member printed John Glen question first answered 27/05/2020 10:40:42 answering member 4051 label Biography information for John Glen
	tabling member	318 label Biography information for John Spellar