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1173686

	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	Child Trust Fund
	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 (a) raise public awareness of and (b) encourage young people to access monies held in their name in Child Trust Fund accounts.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	8356
	answer	answer is ministerial correction date of answer 30/01/2020 answer text <p>HMRC is working closely with Child Trust Fund providers and the wider industry to assist those who have difficulty in locating a misplaced Child Trust Fund account.</p><p> </p><p>HMRC:</p><ul><li>has improved the National Insurance Notification (NINO) letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Fund scheme;</li><li>has worked with a charity, The Share Foundation, to develop a process whereby the charity can link children with their account; and</li><li>is developing a simplified system for account tracing which will assist those with a limited digital footprint.</li></ul><p> </p><p>In addition, while CTF providers are already required to send regular statements to the contact for the account, regulations were laid on 15 January which will require them to send a statement in the year the child reaches 17 in anticipation of the maturity of the account.</p><p> </p><p>If a child, or their parent, does not know which provider is managing the child’s account, HMRC provides a tracing service, which can be accessed at: <a href="http://www.gov.uk/child-trust-funds" target="_blank">www.gov.uk/child-trust-funds</a></p><p> </p><p>As accounts do not begin to mature until September 2020, no accounts are currently unclaimed, and the total value of unclaimed funds is zero.</p><p> </p><p>The regulations laid on 15 January ensure that any CTF account not claimed by the account holder when they turn 18 will retain its tax-free status until it is claimed. These regulations also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8357 8358 question first answered 30/01/2020 14:05:14 answering member 4051 label Biography information for John Glen
	tabling member	4458 label Biography information for Conor McGinn

1173688

	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	Child Trust Fund
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent estimate he has made of the total value of unclaimed funds currently residing in Child Trust Fund accounts.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	8358
	answer	answer is ministerial correction date of answer 30/01/2020 answer text <p>HMRC is working closely with Child Trust Fund providers and the wider industry to assist those who have difficulty in locating a misplaced Child Trust Fund account.</p><p> </p><p>HMRC:</p><ul><li>has improved the National Insurance Notification (NINO) letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Fund scheme;</li><li>has worked with a charity, The Share Foundation, to develop a process whereby the charity can link children with their account; and</li><li>is developing a simplified system for account tracing which will assist those with a limited digital footprint.</li></ul><p> </p><p>In addition, while CTF providers are already required to send regular statements to the contact for the account, regulations were laid on 15 January which will require them to send a statement in the year the child reaches 17 in anticipation of the maturity of the account.</p><p> </p><p>If a child, or their parent, does not know which provider is managing the child’s account, HMRC provides a tracing service, which can be accessed at: <a href="http://www.gov.uk/child-trust-funds" target="_blank">www.gov.uk/child-trust-funds</a></p><p> </p><p>As accounts do not begin to mature until September 2020, no accounts are currently unclaimed, and the total value of unclaimed funds is zero.</p><p> </p><p>The regulations laid on 15 January ensure that any CTF account not claimed by the account holder when they turn 18 will retain its tax-free status until it is claimed. These regulations also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8356 8357 question first answered 30/01/2020 14:05:14 answering member 4051 label Biography information for John Glen
	tabling member	4458 label Biography information for Conor McGinn

1173687

	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	Child Trust Fund
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent estimate he has made of the total number of unclaimed Child Trust Fund accounts in (a) St Helens North constituency and (b) the UK.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	8357
	answer	answer is ministerial correction date of answer 30/01/2020 answer text <p>HMRC is working closely with Child Trust Fund providers and the wider industry to assist those who have difficulty in locating a misplaced Child Trust Fund account.</p><p> </p><p>HMRC:</p><ul><li>has improved the National Insurance Notification (NINO) letter, which is sent out prior to a child’s 16th birthday, to raise awareness of the Child Trust Fund scheme;</li><li>has worked with a charity, The Share Foundation, to develop a process whereby the charity can link children with their account; and</li><li>is developing a simplified system for account tracing which will assist those with a limited digital footprint.</li></ul><p> </p><p>In addition, while CTF providers are already required to send regular statements to the contact for the account, regulations were laid on 15 January which will require them to send a statement in the year the child reaches 17 in anticipation of the maturity of the account.</p><p> </p><p>If a child, or their parent, does not know which provider is managing the child’s account, HMRC provides a tracing service, which can be accessed at: <a href="http://www.gov.uk/child-trust-funds" target="_blank">www.gov.uk/child-trust-funds</a></p><p> </p><p>As accounts do not begin to mature until September 2020, no accounts are currently unclaimed, and the total value of unclaimed funds is zero.</p><p> </p><p>The regulations laid on 15 January ensure that any CTF account not claimed by the account holder when they turn 18 will retain its tax-free status until it is claimed. These regulations also provide that funds in a mature CTF may be transferred to an ISA without counting towards the individual’s annual ISA subscription limit.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8356 8358 question first answered 30/01/2020 14:05:14 answering member 4051 label Biography information for John Glen
	tabling member	4458 label Biography information for Conor McGinn

1679096

	registered interest
	date	19/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Owner Occupation: St Helens North
	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 impact of trends in the level of interest rates on homeowners in St Helens North constituency.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	7602
	answer	answer is ministerial correction date of answer 08/01/2024 answer text <p>The pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene. However, the Government recognises this is a concerning time for mortgage borrowers.</p><p>Rising interest rates are in part driven by Bank Rate. Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England. The MPC continues to have the Government’s full support as it takes action to return inflation to target through its independent monetary policy decisions.</p><p>The average offered mortgage rates on 2-year and 5-year fixed rates have now fallen from their peak in the Summer.</p><p>The Government has taken steps to limit the impact of rising interest rates on mortgage holders, through the Mortgage Charter. This Charter sets out the standards that signatory lenders – who represent over 90% of the UK mortgage market – will adopt when helping their customers.</p><p>We have also taken a number of measures aimed at helping people to avoid repossession, including protection in the courts through the Pre-Action Protocol, the Housing Loss Prevention Advice Service (HLPAS), and Support for Mortgage Interest (SMI) loans. Accordingly, arrears and repossessions remain low by historical standards, despite the rise in interest costs.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 7378 question first answered 08/01/2024 08:15:21 answering member 4639 label Biography information for Bim Afolami
	tabling member	4458 label Biography information for Conor McGinn

1679095

	registered interest
	date	19/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Individual Savings Accounts: First Time Buyers
	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 Lifetime ISAs for helping first-time buyers in (a) Merseyside (b) St Helens.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	7601
	answer	answer is ministerial correction date of answer 09/01/2024 answer text <p>The Government is committed to supporting people of all incomes and at all stages of life to save, and to making the aspiration of home ownership a reality for as many households as possible.</p><p> </p><p>The Lifetime ISA is intended to support younger people saving for their first home or for later life by offering a generous government bonus of 25% on up to £4,000 of savings each year. These funds, including the government bonus, can be used to purchase a first home up to the value of £450,000.</p><p> </p><p>The Government remains of the view that the property price cap is set at an appropriate level to support most first-time buyers across the UK while targeting households that may find it most difficult to get onto the property ladder. The withdrawal charge is needed to protect the LISA’s status as a long-term savings product. Reducing this and would encourage the use of LISAs in ways for which they were not intended.</p><p> </p><p>The Government does not undertake an assessment of the effectiveness of the LISA by region, however the Government regularly publishes annual savings statistics, which includes information on the LISA. (https://www.gov.uk/government/statistics/annual-savings-statistics-2022)</p><p> </p><p>The Government will continue to keep all aspects of savings tax policy under review and considers all representations made carefully, with any changes made as part of the Budget process.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 7375 7376 question first answered 09/01/2024 17:23:54 answering member 4639 label Biography information for Bim Afolami
	tabling member	4458 label Biography information for Conor McGinn

1223890

	registered interest
	date	13/07/2020
	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 recent estimate his Department has made of the number of people in (a) St Helens North constituency, (b) the North West and c) the UK for whom cash is their primary payment method.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	72975
	answer	answer is ministerial correction date of answer 16/07/2020 answer text <p>The Government recognises that cash remains important for many individuals and businesses across the UK. That is why, at the March 2020 Budget, the Chancellor announced that the Government will bring forward legislation to protect access to cash for those who need it.</p><p> </p><p>The Government is engaging with the financial regulators, including through the Joint Authorities Cash Strategy Group, to monitor the impact of COVID-19 on the UK’s cash infrastructure and ensure that those who rely on cash to transact can continue to do so in the long-term. The Financial Conduct Authority and Payment Systems Regulators are developing a comprehensive picture of cash access infrastructure across the UK in relation to social economic factors that reflect consumer needs, building upon their mapping work carried out during the COVID-19 crisis.</p><p> </p><p>LINK, the UK’s main ATM network, publishes the annual total of free-to-use ATMs across the UK since 1998 online. As of 2019, there were 45,000 free-to-use ATMs in the UK; although this is less than the peak number in 2017, this remains 13% higher than a decade ago. LINK’s Monthly ATM Footprint Report also publishes information monthly on the break down by constituency.</p><p> </p><p>During the COVID-19 outbreak, financial services firms have announced a range of measures to support vulnerable customers. We are working with the Financial Conduct Authority to ensure there is continued support for these people. For example, many firms have methods for trusted third parties to access cash. Anyone with questions should contact their banking service provider.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 72976 72977 question first answered 16/07/2020 09:46:00 answering member 4051 label Biography information for John Glen
	tabling member	4458 label Biography information for Conor McGinn

1223892

	registered interest
	date	13/07/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cash Dispensing: Fees and Charges
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate his Department has made of the number of free-to-use ATMs in (a) St Helens North constituency, (b) the North West and (c) the UK in each year since 2010.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	72976
	answer	answer is ministerial correction date of answer 16/07/2020 answer text <p>The Government recognises that cash remains important for many individuals and businesses across the UK. That is why, at the March 2020 Budget, the Chancellor announced that the Government will bring forward legislation to protect access to cash for those who need it.</p><p> </p><p>The Government is engaging with the financial regulators, including through the Joint Authorities Cash Strategy Group, to monitor the impact of COVID-19 on the UK’s cash infrastructure and ensure that those who rely on cash to transact can continue to do so in the long-term. The Financial Conduct Authority and Payment Systems Regulators are developing a comprehensive picture of cash access infrastructure across the UK in relation to social economic factors that reflect consumer needs, building upon their mapping work carried out during the COVID-19 crisis.</p><p> </p><p>LINK, the UK’s main ATM network, publishes the annual total of free-to-use ATMs across the UK since 1998 online. As of 2019, there were 45,000 free-to-use ATMs in the UK; although this is less than the peak number in 2017, this remains 13% higher than a decade ago. LINK’s Monthly ATM Footprint Report also publishes information monthly on the break down by constituency.</p><p> </p><p>During the COVID-19 outbreak, financial services firms have announced a range of measures to support vulnerable customers. We are working with the Financial Conduct Authority to ensure there is continued support for these people. For example, many firms have methods for trusted third parties to access cash. Anyone with questions should contact their banking service provider.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 72975 72977 question first answered 16/07/2020 09:46:00 answering member 4051 label Biography information for John Glen
	tabling member	4458 label Biography information for Conor McGinn

1223894

	registered interest
	date	13/07/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Money: Coronavirus
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he is taking to promote adequate access to alternative payment methods during the covid-19 outbreak for people whose primary payment method is cash.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	72977
	answer	answer is ministerial correction date of answer 16/07/2020 answer text <p>The Government recognises that cash remains important for many individuals and businesses across the UK. That is why, at the March 2020 Budget, the Chancellor announced that the Government will bring forward legislation to protect access to cash for those who need it.</p><p> </p><p>The Government is engaging with the financial regulators, including through the Joint Authorities Cash Strategy Group, to monitor the impact of COVID-19 on the UK’s cash infrastructure and ensure that those who rely on cash to transact can continue to do so in the long-term. The Financial Conduct Authority and Payment Systems Regulators are developing a comprehensive picture of cash access infrastructure across the UK in relation to social economic factors that reflect consumer needs, building upon their mapping work carried out during the COVID-19 crisis.</p><p> </p><p>LINK, the UK’s main ATM network, publishes the annual total of free-to-use ATMs across the UK since 1998 online. As of 2019, there were 45,000 free-to-use ATMs in the UK; although this is less than the peak number in 2017, this remains 13% higher than a decade ago. LINK’s Monthly ATM Footprint Report also publishes information monthly on the break down by constituency.</p><p> </p><p>During the COVID-19 outbreak, financial services firms have announced a range of measures to support vulnerable customers. We are working with the Financial Conduct Authority to ensure there is continued support for these people. For example, many firms have methods for trusted third parties to access cash. Anyone with questions should contact their banking service provider.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 72975 72976 question first answered 16/07/2020 09:46:00 answering member 4051 label Biography information for John Glen
	tabling member	4458 label Biography information for Conor McGinn

709631

	registered interest
	date	09/03/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	National Insurance Contributions: Self-employed
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what the average change will be in national insurance contributions for self-employed people in (a) St Helens North, (b) North West and (c) the UK will be after the new rate announced in the Spring Budget 2017.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	67251
	answer	answer is ministerial correction date of answer 20/03/2017 answer text <p>Following the Chancellor’s oral statement in the House of Commons on 15 March, the Government will no longer be proceeding with the changes announced at Spring Budget 2017 to increase Class 4 National Insurance contributions (NICs) in April 2018 and April 2019. The abolition of Class 2 NICs will continue as announced in April 2018 meaning 3.6 million people will gain on average £135 per year. No self-employed person will have to pay more NICs as a result of these changes.</p> answering member constituency Battersea answering member printed Jane Ellison grouped question UIN 67418 67683 question first answered 20/03/2017 11:49:47 answering member 3918 label Biography information for Jane Ellison
	tabling member	4458 label Biography information for Conor McGinn

1454822

	registered interest
	date	28/03/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cash Dispensing: St Helens North
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions his Department has had with commercial banks operating in St Helens North constituency on protecting (a) free to use ATMs and (b) wider access to cash.
	tabling member constituency	St Helens North
	tabling member printed	Conor McGinn
	uin	148257
	answer	answer is ministerial correction date of answer 31/03/2022 answer text <p>The government recognises that cash remains an important part of daily life for millions of people across the UK, particularly those in vulnerable groups, and has committed to legislate to protect access to cash.</p><p> </p><p>From 1 July to 23 September last year, the government held an Access to Cash Consultation on proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. The government’s proposals intend to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities. The government has carefully considered responses to the consultation and will set out next steps in due course.</p><p> </p><p>Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.</p><p> </p><p>Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: <a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel</a></p><p> </p><p>On access to free-to-use ATMs specifically, free-to-use ATMs, LINK (the scheme that runs the UK's largest ATM network) has commitments to protect the broad geographic spread of free-to-use ATMs and is held to account against these commitments by the Payment Systems Regulator. LINK has committed to protect free-to-use ATMs more than one kilometre away from the next nearest free ATM or Post Office, and free access to cash on high streets (where there is a cluster of five or more retailers) that do not have a free-to-use ATM or a Post Office counter within one kilometre.</p><p> </p><p>Following the Government’s commitment to legislate, firms are working together through the Cash Action Group to develop new initiatives to provide shared services. The Government welcomes the direction set by industry’s commitments at the end of last year and looks forward to seeing what results they deliver in protecting cash facilities for local communities across the UK.</p><p> </p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 148258 question first answered 31/03/2022 14:59:13 answering member 4051 label Biography information for John Glen
	tabling member	4458 label Biography information for Conor McGinn