The Government has been consistent and clear that its objective in respect of RBS ownership is to return the bank to the private sector in full.<\/p>
<\/p>
<\/p>
<\/p>
This policy is supported by recent advice from the Governor of the Bank of England that \u201cit is in the public interest for the Government to begin now to return RBS to the private sector\u201d, and that \u201cthere could be considerable net costs to taxpayers of further delaying the start of a sale\u201d. The findings of the recently published Rothschild report into the Government\u2019s shareholding in RBS concur with this assessment.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-06-30", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-30T14:12:43.54Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Royal Bank of Scotland"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what assessment he has made of the cost and benefits of (a) converting Royal Bank of Scotland (RBS) into a network of local stakeholder banks, (b) breaking up RBS into a series of challenger banks, (c) converting RBS into a state-owned business bank and (d) other options for the future of RBS considered by his Department; and if he will place a copy of any such assessments in the Library.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/301", "label" : {"_value" : "Biography information for Richard Burden"} } , "tablingMemberConstituency" : {"_value" : "Birmingham, Northfield"} , "tablingMemberPrinted" : [{"_value" : "Richard Burden"} ], "uin" : "3801"} , {"_about" : "http://data.parliament.uk/resources/384868", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384868/answer", "answerText" : {"_value" : "
The Government takes the firm view that consumers must be able to easily access clear and transparent information about their accounts with banks and other financial service companies.<\/p>
<\/p>
<\/p>
<\/p>
The Government is continuing to drive forward a wide-reaching and ambitious programme of reforms to open up competition in the banking sector, including enabling innovation in the use of bank data so that customers are able to use online information more effectively. This includes initiatives like the Midata current account tool, which will help customers switch to the best current account for them.<\/p>
<\/p>
<\/p>
<\/p>
The Financial Conduct Authority is also currently reviewing cost-cutting initiatives that affect a significant number of customers, including the withdrawal of paper statements.<\/p>
<\/p>
<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-06-29", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-29T13:52:21.423Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Consumers: Billing"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that consumers are given the choice to receive bills, statements and other important information on paper from their financial service providers without charge.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4133", "label" : {"_value" : "Biography information for Andrew Bridgen"} } , "tablingMemberConstituency" : {"_value" : "North West Leicestershire"} , "tablingMemberPrinted" : [{"_value" : "Andrew Bridgen"} ], "uin" : "3793"} , {"_about" : "http://data.parliament.uk/resources/384869", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384869/answer", "answerText" : {"_value" : "
The Chancellor has previously set out his objectives for the banks in state ownership, including Royal Bank of Scotland. We want to maximise the ability of these important banks to support the British economy, and we want to get the best value for money for the taxpayer.<\/p>
<\/p>
<\/p>
<\/p>
Large scale public ownership has an inhibiting effect on the involvement of private institutions in a company such as RBS, and therefore naturally impacts on broader commercial performance. The best way to deliver our objectives is to return RBS to private ownership. Commercial organisations are more efficient, more innovative and more effective when they are in the private sector.<\/p>
<\/p>
<\/p>
<\/p>
This policy is supported by advice from the Governor of the Bank of England and independent analysis from Rothschild investment bank. In their recent report into this issue, Rothschild note that by starting to sell down its stake in RBS, \u201cthe Government can bring about broader benefits for the institution, which could help to accelerate its recovery\u201d, as well as improving the share price and securing value for the taxpayer.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-06-30", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-30T14:20:21.953Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Royal Bank of Scotland"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, with reference to the oral statement by the Economic Secretary to the Treasury of 11 June 2015, Official Report, column 1373, what the evidence base is for his statement that the Royal Bank of Scotland has not been able to play its full part in small and medium-sized enterprise lending because of public ownership.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4493", "label" : {"_value" : "Biography information for Richard Burgon"} } , "tablingMemberConstituency" : {"_value" : "Leeds East"} , "tablingMemberPrinted" : [{"_value" : "Richard Burgon"} ], "uin" : "3794"} , {"_about" : "http://data.parliament.uk/resources/384875", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384875/answer", "answerText" : {"_value" : "
The failure of IT infrastructure at Royal Bank of Scotland, or any other bank on which customers rely to manage their money, is completely unacceptable. Responsibility for infrastructure in the UK financial sector is primarily for the firms themselves. However, financial regulators have a role to play in supervising, coordinating and driving change to improve the operational resilience of the sector.<\/p>
<\/p>
<\/p>
<\/p>
The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) jointly launched, in October 2014, a review of firms\u2019 critical infrastructure and technology resilience. The review focuses on the most significant UK retail deposit-taking organisations, and is expected to conclude later this summer. The results will not be published, but the FCA and PRA will provide feedback to the firms individually on their findings and agree any follow-up actions.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-06-30", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-30T14:21:17.06Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Banks"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what discussions he has had with (a) the Royal Bank of Scotland and (b) Ulster Bank on steps to assist with any potential future problems with their critical infrastructure.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4131", "label" : {"_value" : "Biography information for Jim Shannon"} } , "tablingMemberConstituency" : {"_value" : "Strangford"} , "tablingMemberPrinted" : [{"_value" : "Jim Shannon"} ], "uin" : "3630"} , {"_about" : "http://data.parliament.uk/resources/384876", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384876/answer", "answerText" : {"_value" : "
The government announced on 17 June that it will launch a consultation to look at making the process for transferring pensions from one scheme to another quicker and smoother, including, if there is sufficient evidence, options to address excessive early exit penalties. The Financial Conduct Authority will, in parallel, gather information from pension providers to establish an evidence base for action in this area. This is part of a wider programme of action by government and regulators to ensure that consumers can take advantage of the new pensions freedoms, introduced in April.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-06-30", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-30T14:24:32.53Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Pensions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, whether the forthcoming consultation on a charge cap for savers withdrawing their money from pensions will include a proposal for a charge cap on income drawdown products.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/163", "label" : {"_value" : "Biography information for Sir Stephen Timms"} } , "tablingMemberConstituency" : {"_value" : "East Ham"} , "tablingMemberPrinted" : [{"_value" : "Stephen Timms"} ], "uin" : "3643"} , {"_about" : "http://data.parliament.uk/resources/384878", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384878/answer", "answerText" : {"_value" : "
The UK\u2019s monetary policy framework, set out in the Bank of England Act 1998, gives operational responsibility for monetary policy to the independent Monetary Policy Committee. The Chancellor of the Exchequer has frequent discussions with the Governor of the Bank of England on a wide range of issues relating to the UK economy.<\/p>
<\/p>
<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-06-30", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-30T13:59:26.923Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Interest Rates"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what recent discussions he has had with the Governor of the Bank of England on the likelihood that interest ratios will remain at their present level.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4131", "label" : {"_value" : "Biography information for Jim Shannon"} } , "tablingMemberConstituency" : {"_value" : "Strangford"} , "tablingMemberPrinted" : [{"_value" : "Jim Shannon"} ], "uin" : "3629"} , {"_about" : "http://data.parliament.uk/resources/384885", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384885/answer", "answerText" : {"_value" : "
The issues raised are a matter for the Financial Ombudsman Service (FOS) who are operationally independent from Government.<\/p>
<\/p>
<\/p>
<\/p>
These questions have been passed on to the FOS. The FOS will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-06-29", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-29T13:54:17.26Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-23", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mortgages: Misrepresentation"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what information he holds on how many complaints have been received by the Financial Services Ombudsman relating to compensation for the mis-selling of endowment mortgages; what proportion of those complaints has been resolved; and what the average time taken to reach a resolution of those complaints was.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/432", "label" : {"_value" : "Biography information for Helen Jones"} } , "tablingMemberConstituency" : {"_value" : "Warrington North"} , "tablingMemberPrinted" : [{"_value" : "Helen Jones"} ], "uin" : "3871"} , {"_about" : "http://data.parliament.uk/resources/384521", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384521/answer", "answerText" : {"_value" : "
Holdings of real estate are assessed as either being required to deliver departmental functions (forming the Core estate) or surplus to this requirement (Non-Core). There is no system for classifying frequency of use. The government's top priority for surplus holdings is to reduce property costs by exiting leasehold agreements, selling freeholds or by sub-letting to external tenants. We have a portal - Find Me Some Government Space (https://www.gov.uk/find-government-property) \u2013 for more efficient marketing of surplus land and buildings. This is searchable by developers, community groups and the general public.<\/p>
<\/p>
<\/p>
<\/p>
It is considered not to be in the public interest to disclose real estate valuation reports, as this information can be commercially sensitive and any disclosure could adversely affect the Government\u2019s future ability to negotiate efficiencies and achieve value for money to the taxpayer. However, the value of HM Treasury\u2019s land and buildings is available in its annual report and accounts, which is accessible on www.gov.uk.<\/p>
<\/p>
<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4107", "label" : {"_value" : "Biography information for Dame Harriett Baldwin"} } , "answeringMemberConstituency" : {"_value" : "West Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Harriett Baldwin"} , "dateOfAnswer" : {"_value" : "2015-06-30", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2015-06-30T14:07:23.507Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2015-06-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Treasury: Buildings"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, what proportion of the office space owned or leased by his Department is not in regular use; what the total (a) rental and (b) retail value is of all such office space; and if he will place in the Library a copy of his most recent departmental real estate valuation.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1506", "label" : {"_value" : "Biography information for Andrew Gwynne"} } , "tablingMemberConstituency" : {"_value" : "Denton and Reddish"} , "tablingMemberPrinted" : [{"_value" : "Andrew Gwynne"} ], "uin" : "3483"} , {"_about" : "http://data.parliament.uk/resources/384561", "AnsweringBody" : [{"_value" : "HM Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/384561/answer", "answerText" : {"_value" : "
Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.<\/p>
<\/p>
<\/p>
<\/p>
Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at:<\/p>
<\/p>