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1679225

	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	Loans: Interest Rates
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 30 November 2023 (HL457), what assessment they have made of whether the Financial conduct Authority can have confidence that lenders are correctly charging the advertised Annual Percentage Rates (APR) if they do not undertake spot checks.
	tabling member printed	Earl Attlee
	uin	HL1318
	answer	answer is ministerial correction date of answer 21/12/2023 answer text <p>The Consumer Credit Act 1974 (CCA) forms a key part of the regulation of the consumer credit market. Under the CCA’s pre-contractual requirements, firms are required to state clearly the actual (rather than representative) APR in credit agreements.</p><p> </p><p>The Financial Conduct Authority (FCA) has a range of supervisory tools to identify non-compliance with relevant rules, including proactive assessments, responding to reports and complaints, and conducting thematic reviews of particular sectors. As an independent regulator, it is for the FCA to make decisions on how it supervises firms and enforces its rules.</p><p> </p><p>More broadly, the government is committed to working with the FCA to deliver a well-functioning and sustainable consumer credit market which meets consumers’ needs. As part of this, the government is reforming the CCA. Working closely with the FCA, it will be considering how reform can enhance consumer understanding of credit products and credit agreements, leading to improved customer outcomes.</p> answering member printed Baroness Vere of Norbiton grouped question UIN HL1319 question first answered 21/12/2023 14:30:59 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	3425 label Biography information for Earl Attlee

1679226

	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	Loans: Interest Rates
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 30 November 2023 (HL457), what assessment they have made of the ability of the average borrower to compare the representative Annual Percentage Rates (APR) with the actual APR offered in the pre-contract information required to be given under the Consumer Credit Act 1974.
	tabling member printed	Earl Attlee
	uin	HL1319
	answer	answer is ministerial correction date of answer 21/12/2023 answer text <p>The Consumer Credit Act 1974 (CCA) forms a key part of the regulation of the consumer credit market. Under the CCA’s pre-contractual requirements, firms are required to state clearly the actual (rather than representative) APR in credit agreements.</p><p> </p><p>The Financial Conduct Authority (FCA) has a range of supervisory tools to identify non-compliance with relevant rules, including proactive assessments, responding to reports and complaints, and conducting thematic reviews of particular sectors. As an independent regulator, it is for the FCA to make decisions on how it supervises firms and enforces its rules.</p><p> </p><p>More broadly, the government is committed to working with the FCA to deliver a well-functioning and sustainable consumer credit market which meets consumers’ needs. As part of this, the government is reforming the CCA. Working closely with the FCA, it will be considering how reform can enhance consumer understanding of credit products and credit agreements, leading to improved customer outcomes.</p> answering member printed Baroness Vere of Norbiton grouped question UIN HL1318 question first answered 21/12/2023 14:30:59 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	3425 label Biography information for Earl Attlee

1672030

	registered interest
	date	21/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Loans: Interest Rates
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government whether the Financial Conduct Authority regularly undertakes spot checks of firms offering loans to ensure that the contract details accurately reflect the advertised annual percentage rate of the financial product.
	tabling member printed	Earl Attlee
	uin	HL457
	answer	answer is ministerial correction date of answer 30/11/2023 answer text <p>The Financial Conduct Authority (FCA) is responsible for regulating the consumer credit market. It is part of a robust regulatory system which is helping to deliver the government’s vision for a well-functioning and sustainable consumer credit market which meets consumers’ needs.</p><p> </p><p>The FCA oversees firms through its supervision strategy. In the <em>FCA Mission – Approach to Supervision April 2019</em>, the FCA set out that to make the best use of its resources and deliver the greatest public value, it takes a proportionate approach to supervising firms. It supervises most firms as members of a portfolio of firms that share a common business model. It analyses each portfolio and agrees a strategy to take action on firms posing the greatest harm.</p><p> </p><p>Firms are required by FCA rules to include a representative APR in certain circumstances. The FCA’s handbook (CONC 3.5) provides further rules and guidance on when a representative APR must be shown, how it should be denoted and the level of prominence it must be given.</p><p> </p><p>While not all consumers will get the advertised APR, they should be told in advance of entering into the agreement what APR they have been offered and this will be shown in the pre-contract information required to be given under the Consumer Credit Act 1974.</p><p> </p><p>If a customer is concerned that they may have been mis-sold a credit agreement, they may wish to consider making a formal complaint to the firm in question in the first instance. If they then feel that their complaint has not been dealt with satisfactorily, they are able to refer the matter to the Financial Ombudsman Service (FOS) – an independent body set up to provide arbitration in such cases.</p> answering member printed Baroness Vere of Norbiton question first answered 30/11/2023 15:31:36 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	3425 label Biography information for Earl Attlee

1248029

	registered interest
	date	02/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Quad Bikes: Exports
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government what assessment they have made of the feasibility of HMRC investigating all quad bikes exported from the UK in ISO shipping containers using search technology like backscatter X-ray scanners.
	tabling member printed	Earl Attlee
	uin	HL9813
	answer	answer is ministerial correction date of answer 16/11/2020 answer text <p>Responsibility for customs detection activity at the border was transferred from HMRC to UK Border Agency (UKBA), now Border Force in 2009. From that time Border Force has been responsible for frontline operations at the border, including enforcing customs regulations and conducting anti-smuggling activity. This includes anti-smuggling activity directed against illicit exports.</p> answering member printed Lord Agnew of Oulton grouped question UIN HL9814 HL9815 HL9816 question first answered 16/11/2020 16:34:56 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3425 label Biography information for Earl Attlee

1248030

	registered interest
	date	02/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Equipment: Smuggling
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how many shipping containers have been found by HMRC to contain stolen construction equipment for export in the last 12 months for which figures are available.
	tabling member printed	Earl Attlee
	uin	HL9814
	answer	answer is ministerial correction date of answer 16/11/2020 answer text <p>Responsibility for customs detection activity at the border was transferred from HMRC to UK Border Agency (UKBA), now Border Force in 2009. From that time Border Force has been responsible for frontline operations at the border, including enforcing customs regulations and conducting anti-smuggling activity. This includes anti-smuggling activity directed against illicit exports.</p> answering member printed Lord Agnew of Oulton grouped question UIN HL9813 HL9815 HL9816 question first answered 16/11/2020 16:34:57 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3425 label Biography information for Earl Attlee

1248031

	registered interest
	date	02/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Quad Bikes: Smuggling
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how many shipping containers have been found by HMRC to contain stolen quad bikes for export in the last 12 months for which figures are available.
	tabling member printed	Earl Attlee
	uin	HL9815
	answer	answer is ministerial correction date of answer 16/11/2020 answer text <p>Responsibility for customs detection activity at the border was transferred from HMRC to UK Border Agency (UKBA), now Border Force in 2009. From that time Border Force has been responsible for frontline operations at the border, including enforcing customs regulations and conducting anti-smuggling activity. This includes anti-smuggling activity directed against illicit exports.</p> answering member printed Lord Agnew of Oulton grouped question UIN HL9813 HL9814 HL9816 question first answered 16/11/2020 16:34:57 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3425 label Biography information for Earl Attlee

1248032

	registered interest
	date	02/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cars: Smuggling
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty's Government how many shipping containers have been found by HMRC to contain stolen cars for export in the last 12 months for which figures are available.
	tabling member printed	Earl Attlee
	uin	HL9816
	answer	answer is ministerial correction date of answer 16/11/2020 answer text <p>Responsibility for customs detection activity at the border was transferred from HMRC to UK Border Agency (UKBA), now Border Force in 2009. From that time Border Force has been responsible for frontline operations at the border, including enforcing customs regulations and conducting anti-smuggling activity. This includes anti-smuggling activity directed against illicit exports.</p> answering member printed Lord Agnew of Oulton grouped question UIN HL9813 HL9814 HL9815 question first answered 16/11/2020 16:34:57 answering member 4689 label Biography information for Lord Agnew of Oulton
	tabling member	3425 label Biography information for Earl Attlee

717906

	registered interest
	date	05/04/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Social Security: Expenditure
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what was the total expenditure on social security in 2016–17; and what were the ten largest heads of expenditure.
	tabling member printed	Earl Attlee
	uin	HL6653
	answer	answer is ministerial correction date of answer 19/04/2017 answer text <p>The total expenditure on social security in the UK in 2016–17 was forecast to be £217.9bn by the Office for Budget Responsibility (OBR), in their Spring Budget 2017 forecast. Table 4.24 of the OBR’s March 2017 Economic and Fiscal Outlook<sup><sup>[1]</sup></sup> provides more detail, including a breakdown by benefit area.</p><p> </p><p>[1] Office for Budget Responsibility, <em>Economic and Fiscal Outlook</em>, March 2017, Table 4.24 (http://cdn.budgetresponsibility.org.uk/March2017EFO-231.pdf).</p> answering member printed Baroness Neville-Rolfe question first answered 19/04/2017 14:50:35 answering member 4284 label Biography information for Baroness Neville-Rolfe
	tabling member	3425 label Biography information for Earl Attlee