Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed grouped question UIN question first answered answering member label
tabling member	label

Search

1024794

	registered interest
	date	13/12/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Economic Crime
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with the Attorney General on proposals to reform the law on corporate liability for economic crime.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	202131
	answer	answer is ministerial correction date of answer 19/12/2018 answer text <p>The Ministry of Justice carried out a call for evidence on corporate criminal liability for economic crime in 2017, to establish whether further reform of the law was necessary. The response is expected to issue in 2019.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 202132 question first answered 19/12/2018 15:46:51 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1024795

	registered interest
	date	13/12/2018
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Economic Crime
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with the Secretary of State for Justice on proposals to reform the law on corporate liability for economic crime.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	202132
	answer	answer is ministerial correction date of answer 19/12/2018 answer text <p>The Ministry of Justice carried out a call for evidence on corporate criminal liability for economic crime in 2017, to establish whether further reform of the law was necessary. The response is expected to issue in 2019.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 202131 question first answered 19/12/2018 15:46:51 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1251837

	registered interest
	date	12/11/2020
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Coronavirus Business Interruption Loan Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what progress has been made on implementing the rules governing the extension of the maximum loan term under the coronavirus business interruption loan scheme from six to 10 years.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	114957
	answer	answer is ministerial correction date of answer 17/11/2020 answer text <p>As part of the Winter Economy Plan, the Chancellor announced a range of measures to extend and reinforce the support provided to businesses during this challenging time.</p><p> </p><p>The Chancellor announced Pay as you Grow options, providing greater flexibility to help Bounce Back Loan borrowers repay their loans on the terms which work best for them. In addition, we have since extended the application deadline for the Coronavirus Business Interruption Loan Scheme, the Coronavirus Large Business Interruption Loan Scheme, the Bounce Back Loan Scheme and the Future Fund until 31 January.</p><p> </p><p>The Chancellor also announced our intention to allow lenders to extend the repayment period for CBILS loans where this is needed up to 10 years. This is not a blanket extension of the term of CBILS loans. Rather, the change is to enable lenders to offer an extension of the term as forbearance where a borrower is in difficulty and could be helped by the extension. We are working to implement this change as soon as possible and will provide an update in due course.</p> answering member constituency Salisbury answering member printed John Glen question first answered 17/11/2020 11:19:28 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1285738

	registered interest
	date	10/02/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Vulture Funds: Mortgages
	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 (a) ensure vulture funds treat customers fairly; and (b) prevent the creation of mortgage prisoners through the sale of loan books to unregulated entities.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	152579
	answer	answer is ministerial correction date of answer 22/02/2021 answer text <p>The FCA have advised that borrowers with inactive lenders, such as UK Asset Resolution (UKAR), are no less protected, when the legal title holder is regulated, than those with active lenders. The Government is also open to extending the Financial Conduct Authority’s (FCA) regulatory perimeter, but is yet to see evidence to suggest that there are borrowers that are currently being harmed by the current regulatory regime and that would therefore be helped by extending the FCA’s remit.</p><p> </p><p>All sales of UKAR loans have included robust, non-negotiable protections to ensure the continued fair treatment of customers. These have included: adherence to the FCA’s Treating Customers Fairly (TCF) principles; its Mortgages and Home Finance: Conduct of Business (MCOB) rules; recourse to the Financial Ombudsman Service (FOS); and restrictions to the changes the buyer can make to standard variable rates (SVRs) for at least 12 months after the transfer of ownership. There have also been no changes to the terms and conditions of the loans which have been sold, and sales of UKAR loans have also not negatively impacted the ability of affected customers to re-mortgage elsewhere.</p><p>The Government has worked with the FCA to provide switching options for consumers with inactive lenders and will continue to support these customers where they would see genuine benefit from switching.</p> answering member constituency Salisbury answering member printed John Glen question first answered 22/02/2021 10:01:30 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1314061

	registered interest
	date	12/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether new funds are planned to be open to start up mutual banks from banking competition remedies.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	805
	answer	answer is ministerial correction date of answer 18/05/2021 answer text <p>The Government welcomes the efforts to establish regional mutual banks and recognises the importance of diversity in the banking system. Officials have been engaging with prospective mutual banks over their efforts to raise capital and look forward to further discussions.</p><p> </p><p>Banking Competition Remedies Ltd (BCR) was established in 2018 as the independent body to implement and oversee the NatWest (previously RBS)-funded Alternative Remedies Package (the Package), including the £425m Capability and Innovation Fund (CIF). This consists of 23 pre-determined grants divided into five pools (A – E). Each pool has a distinct pro-competition purpose based on criteria agreed between HM Treasury (HMT) and the European Commission.</p><p> </p><p>Eligible financial services providers competed for these grants to improve their financial products and services available to SMEs, and to improve their capability to compete with NatWest in the provision of banking services to SMEs. Most of the grants have now been allocated, except £5m worth of funds returned to BCR in January 2021. BCR intend to run a ‘Pool F’ consultation process for the returned funds in August 2021 and bodies eligible for pools A, B or C will be able to apply.</p><p> </p><p>BCR is independent from government and has sole responsibility for evaluating applications and allocating grants to eligible bodies under the CIF. HMT plays no role in the ongoing delivery of the Package and does not have any influence over the decision-making process.</p><p> </p><p>BCR has responsibility for communicating information regarding the Package to the market. Further information on the Package, including eligibility criteria and timelines for implementation is available on BCR’s website.</p><p><strong> </strong></p><p>The distribution of dormant accounts money is governed by the Dormant Bank and Building Society Accounts Act 2008. Following the government's commitment to expanding the Dormant Assets Scheme, the Dormant Assets Bill was introduced to the House of Lords on Wednesday 12 May.</p><p> </p><p>The government recognises the public interest in how this funding is spent in England and has concluded that some increased flexibility in determining this would be beneficial. The Bill therefore amends the approach to restrictions in England in the 2008 Act to mirror the model used for the devolved administrations. This is intended to allow the Government to respond to public feedback and evolving social and environmental needs in England over time by setting the causes through secondary legislation, which is subject to due consultation and parliamentary approval. Should the measure pass, the Government intends to launch a public consultation on the causes to which future funding can be distributed in England.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 806 question first answered 18/05/2021 08:28:01 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1314064

	registered interest
	date	12/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to establish mutual banks from dormant funds in banks.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	806
	answer	answer is ministerial correction date of answer 18/05/2021 answer text <p>The Government welcomes the efforts to establish regional mutual banks and recognises the importance of diversity in the banking system. Officials have been engaging with prospective mutual banks over their efforts to raise capital and look forward to further discussions.</p><p> </p><p>Banking Competition Remedies Ltd (BCR) was established in 2018 as the independent body to implement and oversee the NatWest (previously RBS)-funded Alternative Remedies Package (the Package), including the £425m Capability and Innovation Fund (CIF). This consists of 23 pre-determined grants divided into five pools (A – E). Each pool has a distinct pro-competition purpose based on criteria agreed between HM Treasury (HMT) and the European Commission.</p><p> </p><p>Eligible financial services providers competed for these grants to improve their financial products and services available to SMEs, and to improve their capability to compete with NatWest in the provision of banking services to SMEs. Most of the grants have now been allocated, except £5m worth of funds returned to BCR in January 2021. BCR intend to run a ‘Pool F’ consultation process for the returned funds in August 2021 and bodies eligible for pools A, B or C will be able to apply.</p><p> </p><p>BCR is independent from government and has sole responsibility for evaluating applications and allocating grants to eligible bodies under the CIF. HMT plays no role in the ongoing delivery of the Package and does not have any influence over the decision-making process.</p><p> </p><p>BCR has responsibility for communicating information regarding the Package to the market. Further information on the Package, including eligibility criteria and timelines for implementation is available on BCR’s website.</p><p><strong> </strong></p><p>The distribution of dormant accounts money is governed by the Dormant Bank and Building Society Accounts Act 2008. Following the government's commitment to expanding the Dormant Assets Scheme, the Dormant Assets Bill was introduced to the House of Lords on Wednesday 12 May.</p><p> </p><p>The government recognises the public interest in how this funding is spent in England and has concluded that some increased flexibility in determining this would be beneficial. The Bill therefore amends the approach to restrictions in England in the 2008 Act to mirror the model used for the devolved administrations. This is intended to allow the Government to respond to public feedback and evolving social and environmental needs in England over time by setting the causes through secondary legislation, which is subject to due consultation and parliamentary approval. Should the measure pass, the Government intends to launch a public consultation on the causes to which future funding can be distributed in England.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 805 question first answered 18/05/2021 08:28:01 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1314066

	registered interest
	date	12/05/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mutuals' Deferred Shares Act 2015
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to bring forward regulations for Mutual Deferred Shares under the Mutuals’ Deferred Shares Act 2015.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	807
	answer	answer is ministerial correction date of answer 18/05/2021 answer text <p>The Government has consulted widely with industry representatives in considering whether to lay secondary legislation to enable mutual insurers to raise equity by issuing Mutual Deferred Shares. Mutual insurers and their representatives made clear that Mutual Deferred Shares would only be issued if they both qualified as Tier 1 regulatory capital and would not alter the tax treatment of the issuing mutual. The Government’s decision in 2018 not to lay secondary legislation was taken based on an assessment that it was not possible to design Mutual Deferred Shares to meet both these conditions. The Government is committed to supporting the mutuals sector, but continues to have no plans to bring forward such legislation.</p> answering member constituency Salisbury answering member printed John Glen question first answered 18/05/2021 08:29:18 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1349067

	registered interest
	date	21/07/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Foreign Investment in UK: Serious Fraud Office
	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 potential effect on (a) City of London’s reputation and (b) inward investment of recent investigations undertaken by the Serious Fraud Office.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	37524
	answer	answer is ministerial correction date of answer 06/09/2021 answer text <p>The Serious Fraud Office continues to deliver on its mission to fight serious financial crime, deliver justice for victims, and protect the UK’s reputation as a safe place to do business.</p><p> </p><p>Successes in 2021-22 so far include: securing a conviction in the GPT Special Project Management case; and entering into a £103m Deferred Prosecution Agreement with Amec Foster Wheeler Energy Limited.</p><p> </p><p>The UK remains a leading destination for foreign investment; second in the world for inward Foreign Direct Investment stocks with $2.2 trillion, behind the USA and the Netherlands in 2020.</p> answering member constituency Salisbury answering member printed John Glen question first answered 06/09/2021 12:54:03 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1365867

	registered interest
	date	03/11/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Community Development Finance Institutions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what support his Department plans to provide to community development finance institutions across the UK.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	69147
	answer	answer is ministerial correction date of answer 09/11/2021 answer text <p>The Treasury recognises the vital role that non-banks, including Community Development Financial institutions (CDFIs), play in the provision of credit to SMEs. It remains grateful for the way the sector has responded to the current crisis. The Government remains committed to promoting competition and widening the funding options available to UK businesses.</p><p> </p><p>Our position has always been that the Government does not provide capital to financial institutions, who must source their own funding. For those lenders accredited under the government-backed Recovery Loan Scheme, it is worth noting that they can benefit from the transfer and assignment of the guarantee. The government made this allowance in response to a request from alternative lenders support their ability to access funding.</p> answering member constituency Salisbury answering member printed John Glen question first answered 09/11/2021 14:44:39 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake

1402702

	registered interest
	date	13/01/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what (a) correspondence and (b) other information his Department holds on the basis on which the Economic Secretary to the Treasury decided not to take forward the Financial Services Authority regulation of administering a regulated contract on 2 January 2013.
	tabling member constituency	Thirsk and Malton
	tabling member printed	Kevin Hollinrake
	uin	103605
	answer	answer is ministerial correction date of answer 20/01/2022 answer text <p>In January 2011, the Government announced its intention to introduce further regulation in relation to the sale of regulated mortgage contracts to unregulated firms. Following a review, the Government decided that it would not take forward legislation but would instead keep the position of contracts sold to unregulated firms under review and return to legislation if there was sufficient evidence of consumer detriment.</p><p> </p><p>The Government remains open to further regulation but is yet to see evidence that any consumer harm has occurred under the current regulatory regime that would have been prevented by the proposed regulation. Under the current regulatory regime, firms administering regulated mortgages, including third-party administrators, must be regulated. This means that they are subject to relevant provisions of the Financial Conduct Authority’s Mortgage Conduct of Business requirements, including provisions regarding the fair treatment of customers in arrears. It is also worth noting that further regulation of this kind would not necessarily enable borrowers to switch to a cheaper mortgage deal or to materially lower the interest rates they pay.</p> answering member constituency Salisbury answering member printed John Glen question first answered 20/01/2022 12:03:45 answering member 4051 label Biography information for John Glen
	tabling member	4474 label Biography information for Kevin Hollinrake