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1695226

	registered interest
	date	12/03/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Northern Ireland
	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 ensure that public sector workers in Northern Ireland are able to receive a pay award that is equal to levels in England and Wales.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	18166
	answer	answer is ministerial correction date of answer 19/03/2024 answer text <p>The UK Government is providing the Northern Ireland Executive with a comprehensive £3.3 billion spending settlement to stabilise public services, better manage public finances and pave the way for transformation of public services.</p><p>Within this package, the UK Government provided £846 million to support the Northern Ireland Executive’s budget pressures in 2023-24, including public sector pay pressures</p><p><br>It is the Executive’s responsibility to decide on the level of public sector pay awards for devolved areas in Northern Ireland and to balance these costs against other priorities.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 19/03/2024 12:13:05 answering member 4780 label Biography information for Laura Trott
	tabling member	4131 label Biography information for Jim Shannon

1691083

	registered interest
	date	22/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	First Time Buyers: Mortgages
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has had discussions with major banks on the accessibility of mortgages for first time buyers.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	15279
	answer	answer is ministerial correction date of answer 28/02/2024 answer text <p>The Government is regularly in contact with mortgage lenders on all aspects of their business, including the provision of finance to first time buyers.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 28/02/2024 10:22:06 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1689338

	registered interest
	date	16/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Companies: Northern Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will have discussions with his counterpart in the Department of Economy on helping to ensure that Northern Ireland is an attractive place for companies to invest in.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	14078
	answer	answer is ministerial correction date of answer 26/02/2024 answer text <p>The UK Government is committed to promoting Northern Ireland as an attractive place for foreign direct investment (FDI), and we look forward to working closely with the restored Northern Ireland Executive on ensuring that Northern Ireland is an attractive place for companies to invest in.</p><p> </p><p>The Northern Ireland Investment Summit in September 2023 brought together over 100 international investors and businesses, and profiled Northern Ireland’s innovative and technological strengths. Northern Ireland has been successful in attracting FDI, particularly in financial services, and Belfast is the world’s number one city for FinTech inward investment.</p><p> </p><p>The UK Government is taking steps to improve the investment support offer to foreign investors following the Harrington Review, including making investment ambition a priority across government through the new Ministerial Investment Group, reviewing the grants landscape to make it simple and streamlined for investors, and increasing the resource available to the Office for Investment.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 26/02/2024 09:49:14 answering member 4850 label Biography information for Gareth Davies
	tabling member	4131 label Biography information for Jim Shannon

1689339

	registered interest
	date	16/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Strangford
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will have discussions with local authorities in Northern Ireland on the potential merits of allocating additional funding to support SMEs in Strangford constituency.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	14079
	answer	answer is ministerial correction date of answer 26/02/2024 answer text <p>The allocation of funding to support Small and Medium Enterprises (SMEs) in Northern Ireland is the responsibility of the Northern Ireland Executive. We look forward to working closely with the restored Executive on a wide range of issues, including support for businesses in Northern Ireland.</p><p> </p><p>The UK Government provides tax reliefs benefiting SMEs such as the Annual Investment Allowance and Employment Allowance, supports investment in SMEs through British Business Bank programmes, and offers the Help to Grow: Management training scheme which is delivered through business schools in Northern Ireland.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/02/2024 10:30:06 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1687731

	registered interest
	date	06/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Northern Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has had discussions with the authorities in Northern Ireland on rural banking services.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	13265
	answer	answer is ministerial correction date of answer 13/02/2024 answer text <p>The Treasury engages with a range of different stakeholders to discuss policy matters. We look forward to working with the restored Executive to deliver for the people of Northern Ireland.</p><p>It is imperative that banks and building societies recognise the needs of all their customers, including those who need to use in-person services.</p><p>UK customers can access banking services through a number of different channels. This includes in branches, Post Offices or Banking Hubs, as well as via telephone banking and through digital means such as mobile or online banking.</p><p>The Post Office allows personal and business customers to carry out everyday banking services at 11,500 Post Office branches across the UK. The Post Office is required by the Department for Business &amp; Trade to ensure that 95% of the total rural population across the UK is within 3 miles of their nearest Post Office.</p><p>Moreover, Banking Hubs are an initiative which enable customers of participating banks to access cash and banking services in shared facilities. Over 100 Banking Hubs have been announced so far, and the Government hopes to see these Hubs open as soon as possible across all four nations of the United Kingdom. To date, 5 Hubs have been announced in Northern Ireland, with Kilkeel already open.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 13/02/2024 15:03:45 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1682395

	registered interest
	date	16/01/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Government Assistance
	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 help support mortgage holders with high interest rates; and whether he has had recent discussions with mortgage lenders on taking steps to support mortgage holders.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	9825
	answer	answer is ministerial correction date of answer 24/01/2024 answer text <p>The pricing of mortgages is a commercial decision for lenders in which the Government does not intervene. However, the Government is regularly in contact with mortgage lenders on all aspects of their business</p><p> </p><p>The path to lower interest rates is through low inflation, and the government is fully committed to supporting the Bank of England get inflation back down to the 2% target, including by keeping borrowing under control.</p><p> </p><p>The Government has taken steps to limit the impact of rising interest rates on mortgage holders, through the Mortgage Charter, which sets out the standards signatory lenders will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period.</p><p> </p><p>The Charter is in addition to the significant safeguards already in place for consumers in the mortgage market.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 24/01/2024 12:03:37 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1675385

	registered interest
	date	05/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	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 reduce the national debt in the (a) short- and (b) medium-term.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	5273
	answer	answer is ministerial correction date of answer 11/12/2023 answer text <p>The Government is committed to sustainable public finances and has taken responsible decisions to keep debt falling, while reducing taxes and boosting economic growth. Over the short and medium-term, this includes tough choices to control public pending and drive greater efficiencies.</p><p> </p><p>The independent Office for Budget Responsibility (OBR) confirmed that underlying debt is forecast to fall to 92.8% of GDP in 2028-29 and is 2.1 percentage points lower on average compared to the OBR’s March forecast.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 11/12/2023 16:29:09 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1675386

	registered interest
	date	05/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Supermarkets: Prices
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether officials in his Department have had discussions with representatives of (a) supermarkets and (b) other retail outlets on steps being taken to mitigate the impact of increased costs on the prices of goods for consumers.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	5274
	answer	answer is ministerial correction date of answer 12/12/2023 answer text <p>As part of the process of policy development and delivery, Treasury Ministers and officials meet a wide variety of organisations, including retail businesses, supermarkets, and their representative organisations, to discuss a range of issues including inflation. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at gov.uk:</p><p> </p><p><a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">HMT ministers' meetings, hospitality, gifts and overseas travel - GOV.UK (www.gov.uk)</a></p><p> </p><p>Inflation was 4.6% in October, which is the lowest rate in two years. The government is fully committed to supporting the Bank of England get inflation back down to 2%. The Office for Budget Responsibility (OBR) forecasts that government policies in the Autumn Statement will help reduce inflation to 2.8% by the end of 2024, and return to target in the first half of 2025.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 12/12/2023 17:46:45 answering member 4850 label Biography information for Gareth Davies
	tabling member	4131 label Biography information for Jim Shannon

1675053

	registered interest
	date	04/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Housing: Prices
	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 implications for his policies of changes in the level of house prices since September 2023.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	5027
	answer	answer is ministerial correction date of answer 07/12/2023 answer text <p>The most reliable measure of average house prices in the UK is published by the ONS. The latest release is for September 2023, when the average house price in the UK was assessed to be £291,400. That leaves average UK house prices 25% higher than their average level in 2019, although 0.2% lower than their average level in Sept 2022.</p><p>While prices have remained resilient, housing market activity has slowed in recent months, largely as a result of rising mortgage rates, which 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 path to lower rates is through low inflation, which is why the government is fully committed to supporting the Bank get inflation back down to the 2% target. 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 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 at historic lows, despite the rise in interest costs.</p><p>The government continues to monitor developments in the housing market closely and consider the implications for its policies.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 07/12/2023 15:55:45 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1673899

	registered interest
	date	29/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Pay
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he had made a recent assessment of the implications for his policies of the recommendations of public sector pay review bodies on pay increases for public sector workers.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	4424
	answer	answer is ministerial correction date of answer 07/12/2023 answer text <p>For the 2023/24 pay round, the Government accepted the headline pay recommendations of the PRBs in full for the armed forces, teachers, prison officers, police, the judiciary, medical workforces, and senior civil servants, which has resulted in the highest pay uplifts in three decades.</p><p> </p><p>We have ensured that these PRB awards will not be paid for through borrowing.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 07/12/2023 10:18:04 answering member 4780 label Biography information for Laura Trott
	tabling member	4131 label Biography information for Jim Shannon