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1506306

	registered interest
	date	08/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Alcoholic Drinks: Exports
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to reduce HM Revenue and Customs paperwork for alcohol exporters.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	49633
	answer	answer is ministerial correction date of answer 14/09/2022 answer text I refer the Hon. Member to the answer given on 6 July 2022 – <a href="https://questions-statements.parliament.uk/written-questions/detail/2022-06-28/26743" target="_blank">UIN26743</a>. answering member constituency North East Bedfordshire answering member printed Richard Fuller question first answered 14/09/2022 10:03:06 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1490107

	registered interest
	date	18/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Companies: Fraud
	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 trends in the level of corporate fraud in each of the last three years; and in what sectors that fraud has been identified.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	38627
	answer	answer is ministerial correction date of answer 25/07/2022 answer text <p>The outcomes of investigations into fraud, scams and economic crime are not centrally collated and we do not assess trends in corporate fraud.</p><p> </p><p>Investigations into suspected fraud against the public sector are conducted by the appropriate Department with responsibility for policy delivery. Investigations and enforcement activities are also undertaken by regulatory or enforcement agencies, such as the Financial Conduct Authority and National Crime Agency.</p><p> </p><p>Departments publish an Annual Report and Accounts including estimates of COVID-19 fraud and these are now being published for the 2021-22 financial year. The Counter Fraud Function in Cabinet Office publishes an annual estimate of the level of fraud and error in the public sector. Action Fraud records reported financial losses experienced by businesses, this can be found at https://colp.maps.arcgis.com/apps/dashboards/0334150e430449cf8ac917e347897d46.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller question first answered 25/07/2022 15:22:16 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1490114

	registered interest
	date	18/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Defaulters
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what the mortgage default rate is in the UK.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	38634
	answer	answer is ministerial correction date of answer 20/07/2022 answer text <p>The latest available data from the Bank of England (published 14 June 2022) shows that the proportion of total mortgage loan balances with arrears in Q1 2022 was 0.82%, the lowest level since recording began in 2007. This is consistent with falling arrears levels over the previous 12 months.</p><p> </p><p>The Government works closely with the regulators to monitor the resilience of mortgage borrowers and continues its efforts to support those in financial difficulty.</p><p> </p><p>The Government offers Support for Mortgage Interest (SMI) loans to homeowners in receipt of an income-related benefit and protection in the courts under the Mortgage Pre-Action Protocol to help prevent repossession. This makes it clear that repossession must always be the last resort for lenders. Any borrowers worried about their mortgage payments should make early contact with their lender to discuss the forbearance options available to them.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller grouped question UIN 38633 question first answered 20/07/2022 13:56:08 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1490113

	registered interest
	date	18/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Defaulters
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many mortgage defaults have occurred in each of the last 12 months.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	38633
	answer	answer is ministerial correction date of answer 20/07/2022 answer text <p>The latest available data from the Bank of England (published 14 June 2022) shows that the proportion of total mortgage loan balances with arrears in Q1 2022 was 0.82%, the lowest level since recording began in 2007. This is consistent with falling arrears levels over the previous 12 months.</p><p> </p><p>The Government works closely with the regulators to monitor the resilience of mortgage borrowers and continues its efforts to support those in financial difficulty.</p><p> </p><p>The Government offers Support for Mortgage Interest (SMI) loans to homeowners in receipt of an income-related benefit and protection in the courts under the Mortgage Pre-Action Protocol to help prevent repossession. This makes it clear that repossession must always be the last resort for lenders. Any borrowers worried about their mortgage payments should make early contact with their lender to discuss the forbearance options available to them.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller grouped question UIN 38634 question first answered 20/07/2022 13:56:08 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1506684

	registered interest
	date	20/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Fiscal Policy: Cost of Living
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential impact of his Department’s fiscal policies on the cost of living.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	51612
	answer	answer is ministerial correction date of answer 28/09/2022 answer text <p>The Government understands that people across the UK are worried about the rising cost of living and has taken decisive action to get households and businesses through this winter and the next, while ensuring action is fiscally responsible.</p><p> </p><p>The Energy Price Guarantee means that a typical UK household will pay no more than £2500 a year on their energy bill over the next 2 years. While the Energy Bill Relief Scheme will provide support for businesses, charities, and public sector organisations.</p><p> </p><p>These measures will save the average household around £1000 a year from October, and protect businesses from soaring energy costs, providing them with the certainty they need to plan through the acute crisis this winter.</p><p> </p><p>In addition to this support for energy costs, the Government has already announced £37 billion of targeted support for the cost of living this financial year. This will provide millions of the most vulnerable households with £800 support through the £150 Council Tax rebate and a one-off £650 Cost of Living Payment, with additional support for pensioners and those claiming disability benefits.</p><p> </p><p>As part of the Growth Plan, the Chancellor announced the reversal of the 1.25 percentage point increase in National Insurance from November, and a cut in the basic rate of Income Tax to 19 per cent from April 2023.</p><p> </p><p>These tax cuts will put money back into people’s pockets as well as fuelling economic growth. The Chancellor has been clear that growth is the only sustainable way of increasing living standards for all.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller question first answered 28/09/2022 15:28:15 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1506304

	registered interest
	date	08/09/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Fuels: VAT Zero Rating
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make it his policy to hold discussions with (a) Cabinet colleagues and (b) stakeholders on the potential merits of zero-rating VAT on domestic fuel.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	49632
	answer	answer is ministerial correction date of answer 22/09/2022 answer text <p>The Government has announced a new 'Energy Price Guarantee' to limit the price suppliers can charge customers for units of gas and electricity. This will save the average household £1,000 a year based on current energy prices from October.</p><p>In recognition of the fact that families should not have to bear all of the VAT costs they incur to meet their needs, domestic fuels such as gas, electricity, and heating oil are already subject to the reduced rate of VAT at 5 per cent.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller question first answered 22/09/2022 08:05:49 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1490110

	registered interest
	date	18/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Monetary Policy: Inflation
	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 impact of quantitative easing since 2020 on the rate of inflation.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	38630
	answer	answer is ministerial correction date of answer 25/07/2022 answer text <p>The Bank of England’s independent Monetary Policy Committee is responsible for the operation of monetary policy, including decisions on Bank Rate and quantitative easing. The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, so the Government does not comment on the conduct or effectiveness of monetary policy. Since the MPC were given independence over monetary policy CPI inflation has averaged around the 2% target.</p><p> </p><p>The Government continually monitors economic developments, including inflation, to consider their impact on businesses and households. The Government also remains committed to monetary policy independence, and we retain full confidence in the Committee.</p><p> </p> answering member constituency North East Bedfordshire answering member printed Richard Fuller question first answered 25/07/2022 15:20:29 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1490119

	registered interest
	date	18/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Royal Bank of Scotland: TCI Fund Management
	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 amount of shares held by the TCI hedge fund in the Royal Bank of Scotland in each of the last 15 years.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	38639
	answer	answer is ministerial correction date of answer 25/07/2022 answer text <p>HM Treasury does not routinely monitor the shareholdings of private-sector firms, and has not made an estimate of the amount of shares held by the TCI hedge fund in NatWest Group (previously the Royal Bank of Scotland). I am also not aware of any HM Treasury assessments of TCI interactions with ABN Amro or the subsequent takeover by RBS.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller grouped question UIN 38638 question first answered 25/07/2022 15:17:49 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1490118

	registered interest
	date	18/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	ABN AMRO
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make it his policy to publish any assessment his Department made of (a) TCI interactions with ABN Amro in 2007 and (b) the subsequent takeover by the Royal Bank of Scotland.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	38638
	answer	answer is ministerial correction date of answer 25/07/2022 answer text <p>HM Treasury does not routinely monitor the shareholdings of private-sector firms, and has not made an estimate of the amount of shares held by the TCI hedge fund in NatWest Group (previously the Royal Bank of Scotland). I am also not aware of any HM Treasury assessments of TCI interactions with ABN Amro or the subsequent takeover by RBS.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller grouped question UIN 38639 question first answered 25/07/2022 15:17:49 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord

1490115

	registered interest
	date	18/07/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Credit Cards: Interest Rates
	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 average rate of interest being charged on UK issued credit cards.
	tabling member constituency	Hendon
	tabling member printed	Dr Matthew Offord
	uin	38635
	answer	answer is ministerial correction date of answer 21/07/2022 answer text <p>HM Treasury does not make its own estimates on the average rate of interest being charged on UK issues credit cards, but instead uses The Bank of England monthly releases for monetary and financial system statistics, which can be found here under “Money and Credit Data”: <a href="https://www.bankofengland.co.uk/statistics" target="_blank">https://www.bankofengland.co.uk/statistics</a>.</p><p> </p><p>This data shows that in June 2022 the average quoted household interest rate charged on credit cards was 21.43 per cent.</p> answering member constituency North East Bedfordshire answering member printed Richard Fuller question first answered 21/07/2022 08:02:16 answering member 3912 label Biography information for Richard Fuller
	tabling member	4006 label Biography information for Dr Matthew Offord