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1010762
registered interest false more like this
date less than 2018-11-20more like thismore than 2018-11-20
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading EU Budget: Contributions more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what steps he plans to take to ensure that the European Court of Auditors declare EU accounts to be fair and accurate before the Treasury pays the bill for the UK to leave the EU. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 193463 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2018-11-28more like thismore than 2018-11-28
answer text <p>The Government has negotiated arrangements to provide assurance on payments made under the financial settlement. This includes the right to appoint auditors working on the Government’s behalf to assure the implementation of the financial settlement. On the UK’s request, the EU will provide these auditors with information and assistance to allow them to accomplish their task. The use of auditors will play an important role in ensuring the UK only pays what it should under the terms of the agreement.</p> more like this
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2018-11-28T13:01:53.107Zmore like thismore than 2018-11-28T13:01:53.107Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1168280
registered interest false more like this
date less than 2019-12-19more like thismore than 2019-12-19
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Mortgages more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, if he will review the lending requirements for mortgages to ensure the affordability of rents and repayments in relation to the current salary multiplier requirement. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 84 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-01-13more like thismore than 2020-01-13
answer text <p>The Financial Conduct Authority’s (FCA) ‘Mortgage Market Review’ regulations are based on the principle that mortgages should only be advanced where there is a reasonable expectation that borrowers can repay. To provide new mortgage loans, all lenders must conduct an affordability assessment which includes a robust income and expenditure analysis, and the lender must obtain evidence of that income to support this assessment. Lenders must also comply with rules set by the Financial Policy Committee (FPC) at the Bank of England, intended to manage financial stability risks from the housing market, including a limit of 15% of new lending above 4.5 Loan-to-Income (LTI), and a stress test for loans at 3% above the Standard Variable Rate.</p><p> </p><p>Both the FCA and the Bank of England keep their mortgage market regulations under review to ensure that they meet their objectives. In May 2016 the FCA conducted a review of the MMR, finding that the regulations had been implemented as desired protecting consumers without unduly restricting the availability of credit. The FCA’s Mortgages Market Study of March 2019 also found that the market is working well for consumers. The FPC most recently reviewed their housing tools in December 2019 in their Financial Stability Report, including the 4.5 LTI cap, finding that they have had a positive impact in upholding strong underwriting standards to prevent an increase in the number of highly indebted households, whilst having only a limited impact on mortgage availability.</p>
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2020-01-13T14:25:40.533Zmore like thismore than 2020-01-13T14:25:40.533Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1179742
registered interest false more like this
date less than 2020-02-24more like thismore than 2020-02-24
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Mortgages more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of the availability of residential mortgages that extend beyond 25 years. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 19837 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-03-03more like thismore than 2020-03-03
answer text <p>Data collected by UK Finance shows that the proportion of residential mortgages taken out with terms extending beyond 25 years has increased steadily since 2009. In 2019, more than 60% of first-time buyers took out a mortgage with a term longer than 25 years.</p> more like this
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2020-03-03T17:13:07.957Zmore like thismore than 2020-03-03T17:13:07.957Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1187762
registered interest false more like this
date less than 2020-03-25more like thismore than 2020-03-25
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Equitable Life Assurance Society: Compensation more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of (a) increasing and (b) making additional Equitable Life compensation payments people who made losses as policyholders with that company. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 34966 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-04-27more like thismore than 2020-04-27
answer text <p>There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.</p> more like this
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2020-04-27T13:36:26.44Zmore like thismore than 2020-04-27T13:36:26.44Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1216224
registered interest false more like this
date less than 2020-06-22more like thismore than 2020-06-22
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Financial Services: Personation more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what guidance his Department has issued to (a) mortgage providers and (b) banks on the effect of identity theft on consumers of their products. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 62401 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-06-29more like thismore than 2020-06-29
answer text <p>The Government takes fraud extremely seriously and recognises the devastating impact it can have on consumers and business.</p><p> </p><p>Government is working to strengthen our systems for establishing identity so that serious and organised criminals are denied opportunities to exploit false or stolen personal data. This includes developing proposals for a digital identity system that would enable people to prove their identity easily and securely, without the need to provide physical documents, with the aim of reducing identity-enabled fraud and crime.</p><p> </p><p>Firms are required by law to identify and verify their customer’s identity when they establish a business relationship, for example, by offering a credit card. How firms verify their customers' identities is not stipulated in law or by the regulator. However, the Financial Conduct Authority (FCA) requires banks to maintain effective systems and controls to prevent the risk that they might be used to further financial crime. This includes controls to prevent fraud.</p>
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2020-06-29T16:10:38.877Zmore like thismore than 2020-06-29T16:10:38.877Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1222018
registered interest false more like this
date less than 2020-07-08more like thismore than 2020-07-08
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Personal Savings more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what estimate his Department has made of the average level of savings accumulated by households in the UK. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 71034 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-07-13more like thismore than 2020-07-13
answer text <p>The Office for National Statistics (ONS) publish data on the ratio of household saving to total available household resources. The latest data indicate that the household saving ratio was 8.6% in Q1 2020, compared to 6.6% in Q4 2019.</p><p> </p><p>The Bank of England publish monthly data on changes in households’ deposits. Households’ deposits increased by £25 billion in May following large increases in March and April. This compares with an average monthly increase of £5 billion in the six months to February.</p><p> </p> more like this
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2020-07-13T11:18:47.25Zmore like thismore than 2020-07-13T11:18:47.25Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1237546
registered interest false more like this
date less than 2020-09-24more like thismore than 2020-09-24
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Investment Income: Coronavirus more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment his Department made of the effect of the number of UK-listed companies which have suspended or cancelled dividend payments on (a) pension contributions and (b) household incomes. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 95066 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-10-01more like thismore than 2020-10-01
answer text <p>The Office for National Statistics (ONS) publish official statistics on household incomes, including the contribution from dividend income. The latest data indicates that dividend income accounted for 4% of household disposable income in the second quarter of 2020.</p><p> </p><p>The Covid-19 outbreak poses an unprecedented challenge to the UK. The government has taken substantial action to rescue the economy from the shock of the COVID-19 pandemic, including through the Plan for Jobs, published in July.</p><p> </p><p>The government has kept people in work, protected their incomes and supported businesses, delivering one of the most generous and comprehensive packages of support globally. This includes support for over 1.2 million businesses, totalling £57 billion from Government-backed loan schemes, and over £39 billion on the furlough scheme, protecting over 9.6 million jobs.</p><p> </p> more like this
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2020-10-01T13:46:15.877Zmore like thismore than 2020-10-01T13:46:15.877Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1241690
registered interest false more like this
date less than 2020-10-08more like thismore than 2020-10-08
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Investment Income: Coronavirus more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment his Department has made of the effect on pension companies of the decision by some UK listed companies to cancel dividend payments to their shareholders. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 100961 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-10-16more like thismore than 2020-10-16
answer text <p>Whilst dividend income is important for pension schemes, they have long-term investment horizons and a range of other sources including fixed income from corporate and sovereign bonds, rental income and capital gains, although many of these are under strain.</p><p>When market conditions recover and firms have rebuilt their balance sheets we anticipate that dividends will be restored.</p> more like this
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2020-10-16T12:52:59.033Zmore like thismore than 2020-10-16T12:52:59.033Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1258726
registered interest false more like this
date less than 2020-12-07more like thismore than 2020-12-07
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Coronavirus: Disease Control more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, when his Department plans to publish its estimate of the economic effect of the covid-19 November 2020 lockdown. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 125994 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2020-12-15more like thismore than 2020-12-15
answer text <p>On 30 November, the Government published an <em>Analysis of the health, economic and social effects of Covid-19 and the approach to tiering</em>. For the economy, this document set out the impact Covid-19 has had on the economy to date and the main conclusions from most recent OBR forecast, which included a central forecast, and upside and downside scenarios which reflect, alongside other factors, assumptions on restrictions.</p> more like this
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2020-12-15T14:13:31.187Zmore like thismore than 2020-12-15T14:13:31.187Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter
1288789
registered interest false more like this
date less than 2021-02-23more like thismore than 2021-02-23
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Money Laundering: Scotland more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what recent assessment he has made of the implications for his policies of the use of Scottish Limited Partnerships to illegally launder money. more like this
tabling member constituency Hendon more like this
tabling member printed
Dr Matthew Offord more like this
uin 157088 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-03-01more like thismore than 2021-03-01
answer text <p>The Government has already acted to reduce the risk of Scottish Limited Partnerships (SLPs) being used to illegally launder money, introducing a requirement for SLPs to register Persons of Significant Control in 2017. Since then, there has been a drastic reduction in the incorporation of SLPs, which have fallen from 4,932 in 2016-17 to 657 in 2019-20.</p><p> </p><p>Further to this, as part of our Economic Crime Plan, the Government issued, on 10 December 2018, its response to the consultation on the reform of limited partnership law. The reforms seek to tackle the misuse of limited partnerships, especially SLPs, while modernising the law governing them. The Department for Business, Energy and Industrial Strategy will bring forward legislation when parliamentary time allows.</p><p> </p><p> </p><p> </p> more like this
answering member constituency Salisbury remove filter
answering member printed John Glen more like this
question first answered
less than 2021-03-01T10:59:31.287Zmore like thismore than 2021-03-01T10:59:31.287Z
answering member
4051
label Biography information for John Glen more like this
tabling member
4006
label Biography information for Dr Matthew Offord remove filter