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1458216
star this property registered interest true more like this
star this property date less than 2022-04-19more like thismore than 2022-04-19
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Banks: Ethnic Groups more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, with reference to the report published by Lloyds Bank entitled Black. British. In Business & Proud, what steps he is taking to increase (a) cultural awareness and (b) Black representation in the banking sector. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 155698 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2022-04-26more like thismore than 2022-04-26
star this property answer text <p>On 17 March, the Government published “Inclusive Britain” in response to the independent report by the Commission on Race and Ethnic Disparities, setting out a ground-breaking action plan to tackle negative disparities, promote unity and build a fairer Britain for all. The Government has responded in detail to each of the Commission’s 24 recommendations from its report. In some cases, The Government’s response has gone further than the report envisaged, to ensure that our action plan is as wide-reaching as possible and builds a fairer and more inclusive society in the long-term.</p><p> </p><p>The Government is very supportive of the Race At Work Charter, which over 100 financial services firms have already signed up to. The Charter commits firms that sign up to take practical steps to tackle barriers that ethnic minority people face in recruitment and progression.</p><p> </p><p>We are also supporting entrepreneurs through the Start-Up Loans scheme, which offers businesses 12 months of free mentoring. Of all loans issued up to December 2021, 20% went to Asian people, Black people, or people from other Ethnic Minorities (excluding White minorities). At the end of December 2021, the programme had delivered more than 90,000 loans, providing more than £819m of funding to entrepreneurs.</p><p>In March 2021, the Parker Review published statistics showing that significant progress has been made on improving ethnic diversity of UK boards, with 89 out of 100 FTSE 100 companies reporting they had appointed a director from a minority ethnic group.</p><p> </p><p>The Treasury remains committed to supporting individuals and businesses of all backgrounds to access the finance they need and continues to engage with the private sector and other government departments including BEIS and Cabinet Office on this important issue.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
155697 more like this
155699 more like this
star this property question first answered
less than 2022-04-26T14:57:13.037Zmore like thismore than 2022-04-26T14:57:13.037Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1458215
star this property registered interest true more like this
star this property date less than 2022-04-19more like thismore than 2022-04-19
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Financial Institutions: Ethnic Groups more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, with reference to the report published by Lloyds Bank entitled Black. British. In Business & Proud, what steps he is taking to increase the confidence of the UK's Black business community in the banking and financial services sector. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 155697 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2022-04-26more like thismore than 2022-04-26
star this property answer text <p>On 17 March, the Government published “Inclusive Britain” in response to the independent report by the Commission on Race and Ethnic Disparities, setting out a ground-breaking action plan to tackle negative disparities, promote unity and build a fairer Britain for all. The Government has responded in detail to each of the Commission’s 24 recommendations from its report. In some cases, The Government’s response has gone further than the report envisaged, to ensure that our action plan is as wide-reaching as possible and builds a fairer and more inclusive society in the long-term.</p><p> </p><p>The Government is very supportive of the Race At Work Charter, which over 100 financial services firms have already signed up to. The Charter commits firms that sign up to take practical steps to tackle barriers that ethnic minority people face in recruitment and progression.</p><p> </p><p>We are also supporting entrepreneurs through the Start-Up Loans scheme, which offers businesses 12 months of free mentoring. Of all loans issued up to December 2021, 20% went to Asian people, Black people, or people from other Ethnic Minorities (excluding White minorities). At the end of December 2021, the programme had delivered more than 90,000 loans, providing more than £819m of funding to entrepreneurs.</p><p>In March 2021, the Parker Review published statistics showing that significant progress has been made on improving ethnic diversity of UK boards, with 89 out of 100 FTSE 100 companies reporting they had appointed a director from a minority ethnic group.</p><p> </p><p>The Treasury remains committed to supporting individuals and businesses of all backgrounds to access the finance they need and continues to engage with the private sector and other government departments including BEIS and Cabinet Office on this important issue.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
155698 more like this
155699 more like this
star this property question first answered
less than 2022-04-26T14:57:12.987Zmore like thismore than 2022-04-26T14:57:12.987Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1458217
star this property registered interest true more like this
star this property date less than 2022-04-19more like thismore than 2022-04-19
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Banks: Ethnic Groups more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, with reference to the report published by Lloyds Bank entitled Black. British. In Business & Proud, if he will take steps to work with the banking sector on creating a bespoke mentoring programme for Black-owned businesses. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 155699 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2022-04-26more like thismore than 2022-04-26
star this property answer text <p>On 17 March, the Government published “Inclusive Britain” in response to the independent report by the Commission on Race and Ethnic Disparities, setting out a ground-breaking action plan to tackle negative disparities, promote unity and build a fairer Britain for all. The Government has responded in detail to each of the Commission’s 24 recommendations from its report. In some cases, The Government’s response has gone further than the report envisaged, to ensure that our action plan is as wide-reaching as possible and builds a fairer and more inclusive society in the long-term.</p><p> </p><p>The Government is very supportive of the Race At Work Charter, which over 100 financial services firms have already signed up to. The Charter commits firms that sign up to take practical steps to tackle barriers that ethnic minority people face in recruitment and progression.</p><p> </p><p>We are also supporting entrepreneurs through the Start-Up Loans scheme, which offers businesses 12 months of free mentoring. Of all loans issued up to December 2021, 20% went to Asian people, Black people, or people from other Ethnic Minorities (excluding White minorities). At the end of December 2021, the programme had delivered more than 90,000 loans, providing more than £819m of funding to entrepreneurs.</p><p>In March 2021, the Parker Review published statistics showing that significant progress has been made on improving ethnic diversity of UK boards, with 89 out of 100 FTSE 100 companies reporting they had appointed a director from a minority ethnic group.</p><p> </p><p>The Treasury remains committed to supporting individuals and businesses of all backgrounds to access the finance they need and continues to engage with the private sector and other government departments including BEIS and Cabinet Office on this important issue.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
155697 more like this
155698 more like this
star this property question first answered
less than 2022-04-26T14:57:12.923Zmore like thismore than 2022-04-26T14:57:12.923Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1422630
star this property registered interest false more like this
star this property date less than 2022-02-18more like thismore than 2022-02-18
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Credit: Retail Trade more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what assessment his Department has made of the impact of buy now, pay later products on the UK’s retail industry. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 125131 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2022-02-28more like thismore than 2022-02-28
star this property answer text <p>The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later (BNPL) products. The Government recognises those risks, but also notes that as an interest-free product, BNPL can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why on 2 February 2021 the Government announced its intention to regulate BNPL products in a proportionate manner.</p><p> </p><p>The Government published a consultation on policy proposals for the regulation of BNPL on 21 October 2021, which closed on 6 January. The consultation sought stakeholder views on how to define the scope of regulation and how to draw boundaries in legislation between different types of credit agreements that make use of the exemption from consumer credit regulation that is currently used by BNPL products.</p><p> </p><p>The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.</p><p> </p><p>HMT does not hold information regarding the savings to consumers resulting from the use of BNPL products in 2021, or the impact of BNPL on the UK’s retail industry. Instead, HMT draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.</p><p> </p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
125128 more like this
125129 more like this
125130 more like this
star this property question first answered
less than 2022-02-28T15:02:20.19Zmore like thismore than 2022-02-28T15:02:20.19Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1422629
star this property registered interest false more like this
star this property date less than 2022-02-18more like thismore than 2022-02-18
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Credit more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what estimate his Department has made of the savings to consumers resulting from the use of buy now, pay later low interest credit schemes in 2021. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 125130 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2022-02-28more like thismore than 2022-02-28
star this property answer text <p>The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later (BNPL) products. The Government recognises those risks, but also notes that as an interest-free product, BNPL can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why on 2 February 2021 the Government announced its intention to regulate BNPL products in a proportionate manner.</p><p> </p><p>The Government published a consultation on policy proposals for the regulation of BNPL on 21 October 2021, which closed on 6 January. The consultation sought stakeholder views on how to define the scope of regulation and how to draw boundaries in legislation between different types of credit agreements that make use of the exemption from consumer credit regulation that is currently used by BNPL products.</p><p> </p><p>The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.</p><p> </p><p>HMT does not hold information regarding the savings to consumers resulting from the use of BNPL products in 2021, or the impact of BNPL on the UK’s retail industry. Instead, HMT draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.</p><p> </p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
125128 more like this
125129 more like this
125131 more like this
star this property question first answered
less than 2022-02-28T15:02:20.143Zmore like thismore than 2022-02-28T15:02:20.143Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1422628
star this property registered interest false more like this
star this property date less than 2022-02-18more like thismore than 2022-02-18
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Credit more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what plans his Department has to create a definition of buy now, pay later in statute; and whether he has made an assessment of the potential impact of establishing that definition. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 125129 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2022-02-28more like thismore than 2022-02-28
star this property answer text <p>The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later (BNPL) products. The Government recognises those risks, but also notes that as an interest-free product, BNPL can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why on 2 February 2021 the Government announced its intention to regulate BNPL products in a proportionate manner.</p><p> </p><p>The Government published a consultation on policy proposals for the regulation of BNPL on 21 October 2021, which closed on 6 January. The consultation sought stakeholder views on how to define the scope of regulation and how to draw boundaries in legislation between different types of credit agreements that make use of the exemption from consumer credit regulation that is currently used by BNPL products.</p><p> </p><p>The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.</p><p> </p><p>HMT does not hold information regarding the savings to consumers resulting from the use of BNPL products in 2021, or the impact of BNPL on the UK’s retail industry. Instead, HMT draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.</p><p> </p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
125128 more like this
125130 more like this
125131 more like this
star this property question first answered
less than 2022-02-28T15:02:20.08Zmore like thismore than 2022-02-28T15:02:20.08Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1422627
star this property registered interest false more like this
star this property date less than 2022-02-18more like thismore than 2022-02-18
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Credit: Regulation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps his Department is taking to regulate buy now, pay later products. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 125128 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2022-02-28more like thismore than 2022-02-28
star this property answer text <p>The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later (BNPL) products. The Government recognises those risks, but also notes that as an interest-free product, BNPL can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why on 2 February 2021 the Government announced its intention to regulate BNPL products in a proportionate manner.</p><p> </p><p>The Government published a consultation on policy proposals for the regulation of BNPL on 21 October 2021, which closed on 6 January. The consultation sought stakeholder views on how to define the scope of regulation and how to draw boundaries in legislation between different types of credit agreements that make use of the exemption from consumer credit regulation that is currently used by BNPL products.</p><p> </p><p>The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.</p><p> </p><p>HMT does not hold information regarding the savings to consumers resulting from the use of BNPL products in 2021, or the impact of BNPL on the UK’s retail industry. Instead, HMT draws on the research of various stakeholders, including consumer groups and the wider financial services industry, to inform policy development.</p><p> </p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property grouped question UIN
125129 more like this
125130 more like this
125131 more like this
star this property question first answered
less than 2022-02-28T15:02:19.987Zmore like thismore than 2022-02-28T15:02:19.987Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1419033
star this property registered interest false more like this
star this property date less than 2022-02-02more like thismore than 2022-02-02
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Financial Services: Regulation more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, whether he has taken steps to review the corpus of retained EU law, other UK regulations and potential new financial services regulations, for the purposes of improving UK competitiveness; and what steps he is taking to ensure that any such new regulations and legislative changes are introduced in a timely manner. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 116913 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2022-02-09more like thismore than 2022-02-09
star this property answer text <p>In his Mansion House statement last July, the Chancellor set out the Government’s vision for an open, competitive, green, and technologically advanced financial services sector. A sweeping set of reforms to sharpen the UK’s competitive advantage in financial services is already underway.</p><p> </p><p>In November, the Government published the second consultation in its Future Regulatory Framework (FRF) Review. This provides a once-in-a-generation opportunity to ensure that, having left the EU, the UK establishes a coherent, agile, and internationally respected approach to financial services regulation that is right for the UK. This includes proposals to repeal a significant volume of retained EU law relating to financial services, so that the financial services regulators can take responsibility for making the appropriate rules in these areas.</p><p>As set out in the recent publication, <em>The Benefits of Brexit: How the UK is taking advantage of leaving the EU, </em>the Government is actively seeking out opportunities to tailor the regulation of our financial services sector, within the new framework the FRF Review will deliver, through measures including:</p><p> </p><ul><li>A ground-breaking Mutual Recognition Agreement with Switzerland.</li><li>Reforming our capital markets through the Wholesale Markets Review and Prospectus Regime Review.</li><li>Establishing a new Centre for Finance, Innovation and Technology.</li><li>Becoming the world’s first net zero-aligned financial centre.</li></ul>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2022-02-09T08:54:12.183Zmore like thismore than 2022-02-09T08:54:12.183Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1377850
star this property registered interest true more like this
star this property date less than 2021-11-12more like thismore than 2021-11-12
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Central Bank Digital Currencies more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will make it his policy that any central bank digital currency will not be used to direct, control or hold under surveillance the spending of holders of such currency by ensuring that the currency is not programmable. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 73820 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2021-11-17more like thismore than 2021-11-17
star this property answer text <p>The Government and the Bank of England have not yet made a decision on whether to introduce a central bank digital currency (CBDC) in the UK, and will engage widely with stakeholders on the benefits, risks and practicalities of doing so.</p><p> </p><p>Maintaining user safety and privacy is an utmost priority as the Government and the Bank appraises the case for a CBDC in the UK.</p><p> </p><p>The Government’s commitment to ensuring any CBDCs operate within appropriate privacy frameworks was set out in the G7’s public policy principles for CBDC, as part of the UK’s G7 Presidency.  These principles set out rigorous standards of privacy, accountability for the protection of users’ data, and transparency on how information will be secured and used is essential for any CBDC to command trust and confidence.</p><p> </p><p>Earlier this month, the Government committed to public consultation with the Bank of England in 2022 setting out an assessment of the case for a UK CBDC, including the merits of further work to develop an operational and technology model for a UK CBDC.</p>
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2021-11-17T15:22:37.017Zmore like thismore than 2021-11-17T15:22:37.017Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this
1336547
star this property registered interest false more like this
star this property date less than 2021-06-15more like thismore than 2021-06-15
star this property answering body
Treasury more like this
unstar this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
unstar this property hansard heading Cryptocurrencies: Registration more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, whether all firms that have applied for crypto anti-money laundering authorisation with the Financial Conduct Authority will have their applications processed by the deadline of 9 July 2021. more like this
star this property tabling member constituency Wycombe more like this
star this property tabling member printed
Mr Steve Baker remove filter
star this property uin 16090 more like this
star this property answer
answer
unstar this property is ministerial correction false remove filter
star this property date of answer less than 2021-06-21more like thismore than 2021-06-21
star this property answer text <p>The Financial Conduct Authority (FCA) announced on 3 June that the Temporary Registration Regime for cryptoasset firms would be extended from 9 July 2021 to 31 March 2022. Extending the regime will allow firms which are currently part of the regime to continue trading whilst their applications for anti-money laundering supervision are being assessed. The FCA has increased considerably the resources allocated to assessing applications, with a view to processing the remaining applications by the new deadline.</p> more like this
star this property answering member constituency Salisbury more like this
star this property answering member printed John Glen more like this
star this property question first answered
less than 2021-06-21T12:08:08.403Zmore like thismore than 2021-06-21T12:08:08.403Z
star this property answering member
4051
star this property label Biography information for John Glen remove filter
star this property tabling member
4064
star this property label Biography information for Mr Steve Baker more like this