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418656

	registered interest
	date	14/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Refugees: Syria
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what arrangements he is planning for the reallocation of his Department's funding for the resettlement of Syrian refugees within the UK.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	10210
	answer	answer is ministerial correction date of answer 18/09/2015 answer text <p>In accordance with OECD directives, the UK’s official development assistance budget will be used to cover support costs for Syrian refugees in the first twelve months of their stay. Funding arrangements to support the resettlement of Syrian refugees in future years will be considered as part of the 2015 spending review.</p><p> </p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 18/09/2015 09:04:40 answering member 1526 label Biography information for Greg Hands
	tabling member	1447 label Biography information for Andrew Rosindell

418647

	registered interest
	date	14/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Foreign Relations: Iran
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will make an assessment of the effect on the UK economy of improved relations with Iran.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	10204
	answer	answer is ministerial correction date of answer 22/09/2015 answer text <p>The reopening of the UK Embassy in Tehran in August followed gradual expansion of our bilateral engagement with Iran over the last two years, allowing us to discuss a broad range of issues, including areas where we and Iran have sharply differing views.</p><p> </p><p> </p><p> </p><p>The nuclear deal agreed in July will give the international community confidence in the peaceful nature of Iran’s nuclear programme, by imposing strict limits and inspections on its nuclear activity. If Iran completes the agreed actions on its nuclear programme, and nuclear related economic and financial sanctions on Iran are lifted, there will also be commercial opportunities for UK firms and indirect impacts on the UK economy, for example via global energy prices.</p><p> </p><p> </p><p> </p><p>However, the impact of the deal will be complex, and the impact of improved relations with Iran on the UK economy is therefore uncertain.</p><p> </p><p> </p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 22/09/2015 10:01:01 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1447 label Biography information for Andrew Rosindell

418649

	registered interest
	date	14/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Economic Situation: Greece
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential fiscal effect on the UK of the government of Greece defaulting on its national debt.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	10194
	answer	answer is ministerial correction date of answer 18/09/2015 answer text <p>The UK government has no exposure to Greece through its euro area loans. The Government has secured a deal that protects UK taxpayers from any risk from financing euro area bailouts now and in the future. This deal gives legal force to the commitment secured in 2010 that UK taxpayers would not be drawn into a euro area bailout.</p><p> </p><p> </p><p> </p><p>As a shareholder in the International Monetary Fund (IMF), the UK has an indirect exposure to Greece through the IMF’s overall lending. Our ultimate exposure to any IMF lending programme would be in line with our quota shareholding (around 4.5 per cent).</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 18/09/2015 08:57:31 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1447 label Biography information for Andrew Rosindell

420972

	registered interest
	date	13/10/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Conduct Authority
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what steps his Department is taking to ensure that the Financial Conduct Authority acts to prevent companies from fraudulently using capital raised from selling ring-fenced bonds to bail out poorly-performing parent companies.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	11660
	answer	answer is ministerial correction date of answer 21/10/2015 answer text <p>The Government has legislated to ensure that the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA), are fully empowered to maintain the integrity of the ring-fence, and to take action in preventing this type of misconduct.</p><br /><p>The ring fencing regime includes requirements that directors of the ring-fenced body (RFB) be able to take decisions independently of group entities; that transactions with group entities be on arm’s length terms; and that arrangements with other group entities should be managed as with third parties.</p><br /><p>The PRA and the Bank of England have powers to take action if such a transaction were to have a potential impact on the prudential resilience or resolvability of the RFB. The FCA can also take enforcement action for breaches of its rules or for these types of market abuse, which includes the imposition of substantial financial penalties.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 21/10/2015 13:39:49 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1447 label Biography information for Andrew Rosindell

420974

	registered interest
	date	13/10/2015
	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 assessment he has made of the implications for his policies of the most recent Global Financial Stability Report from the IMF.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	11779
	answer	answer is ministerial correction date of answer 21/10/2015 answer text <p>The IMF’s report concludes that risks to global financial stability from emerging markets remain elevated, amid falling risk appetite and increasing market liquidity risks.</p><p>The UK Government is alive to any implications of these risks for UK financial stability. The Government established the Financial Policy Committee (FPC) to identify and manage these types of risk to the UK financial system.</p><p>The Bank of England’s forthcoming 2015 stress test of the UK banking system will assess its resilience to a deterioration in global economic conditions, particularly in emerging markets.</p><p>Furthermore, the UK’s financial regulatory bodies are continuing to work at an international level on risks relating to global financial market liquidity.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 21/10/2015 13:43:18 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1447 label Biography information for Andrew Rosindell

420975

	registered interest
	date	13/10/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Lloyds Bank
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what the reasons are for the timing of his Department's sale of the remaining £2 billion of Lloyds' shares.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	11718
	answer	answer is ministerial correction date of answer 21/10/2015 answer text <p>The Chancellor of the Exchequer stated his intention to return Lloyds Banking Group to the private sector over the coming year in his Mansion House speech of June 2015. The proposal to launch a retail sale in Spring 2016 is consistent with this commitment.</p><br /><p>The Government is determined to build a share-owning democracy and to continue to reduce the national debt by making Lloyds shares available to the public. Final decisions around the timing of a sale are dependent on market conditions, among other factors.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 21/10/2015 13:41:21 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1447 label Biography information for Andrew Rosindell

418651

	registered interest
	date	14/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Inheritance Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what plans his Department has to further reduce the level of inheritance tax on homes.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	10184
	answer	answer is ministerial correction date of answer 21/09/2015 answer text <p>At the Summer Budget 2015, the Government announced it will reduce the burden of inheritance tax for families by making it easier to pass on a home to direct descendants. Information about this measure is available at https://www.gov.uk/government/publications/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band/inheritance-tax-main-residence-nil-rate-band-and-the-existing-nil-rate-band.</p><p> </p><p> </p><p> </p><p>The Government keeps all taxes under review.</p><p> </p><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/09/2015 10:31:57 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1447 label Biography information for Andrew Rosindell

418652

	registered interest
	date	14/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Economic situation: China
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect of China's economic slowdown on the UK economy.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	10185
	answer	answer is ministerial correction date of answer 22/09/2015 answer text <p>The Treasury continuously monitors global economic developments, including those in China, and their impact on the UK as part of the normal process of policy development.</p><p> </p><p> </p><p> </p><p>As one of the most open trading economies in the world with a large financial sector, we have to recognise that the UK is not immune to the continued problems being experienced in the world economy.</p><p> </p><p> </p><p> </p><p>We should not let this put us off. As the Chancellor recently said, while leading the UK’s Economic and Financial Dialogue with China this week, both countries: “have a shared commitment to laying the foundations for stronger, more productive economies that can weather periods of uncertainty. At the same time, we need to continue to pursue the longer-term reform challenges that both our governments are pursuing.”</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 22/09/2015 13:14:32 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1447 label Biography information for Andrew Rosindell

420971

	registered interest
	date	13/10/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Business: Tax Allowances
	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 provide tax incentives for businesses seeking to enter the automotive and motor racing industries.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	11657
	answer	answer is ministerial correction date of answer 21/10/2015 answer text <p>The Government provides generous tax incentives to help new and innovative businesses in the UK, including the automotive and motor racing industries. The rate of corporation tax is currently 20% and will be 18% in 2020, the lowest of any economy in the G20.</p><br /><p>The Government supports research and development (R&amp;D) in the automotive and motor racing industries through R&amp;D tax reliefs. At Summer Budget 2015, the Government also announced that it would increase the permanent level of Annual Investment Allowance to £200,000 which will further support investment in plant and machinery.</p><br /><p>The Government has also committed £86 million through the Advanced Propulsion Centre to secure Britain’s strength in the research, development and commercialisation of low carbon vehicle technologies.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 21/10/2015 16:07:43 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1447 label Biography information for Andrew Rosindell

48144

	registered interest
	date	10/04/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	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 reduce the amount of stamp duty paid by first-time home buyers.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	196306
	answer	answer is ministerial correction date of answer 30/04/2014 answer text <p><strong>The stamp duty land tax relief for first time buyers in existence between March 2010 and March 2012 was found by HMRC to be ineffective in increasing the number of first time buyers entering the market. </strong></p><p> </p><p><strong>The Government is instead taking other steps to support those wishing to purchase a home, such as the Help to Buy and NewBuy schemes. </strong></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 30/04/2014 12:00:00 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1447 label Biography information for Andrew Rosindell