On 1 April 2014, regulation of the consumer credit market, including payday lenders, was transferred to the Financial Conduct Authority (FCA). The government has given the FCA strong powers to protect consumers and to take action against firms and individuals that do not meet its standards. In 2017, the FCA issued total fines of £229 million.<\/p>
<\/p>
The government legislated to require the FCA to introduce a cap on the cost of payday loans, which came into force on 2 January 2015. The FCA published a feedback statement in July 2017, showing that the price cap has been effective, leading to savings of approximately £150 million for 760,000 individuals using payday loans each year.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2019-01-21", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-01-21T13:50:10.353Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-01-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Credit: Interest Rates"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what steps he is taking to protect consumers from high risk pay-day loans.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4363", "label" : {"_value" : "Biography information for Kate Hollern"} } , "tablingMemberConstituency" : {"_value" : "Blackburn"} , "tablingMemberPrinted" : [{"_value" : "Kate Hollern"} ], "uin" : "208936"} , {"_about" : "http://data.parliament.uk/resources/971386", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/971386/answer", "answerText" : {"_value" : "
The Government recognises that widespread free access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK. Government has been engaging and will continue to engage with the regulators and industry, including LINK, to ensure that it is maintained.<\/p>
<\/p>
To ensure the provision of ATMs in rural, isolated or vulnerable areas, LINK announced it will enhance its financial inclusion plan to include in the programme all ATMs that are a kilometer or further from the next other free-to-use ATM. Around 80% of the ATM network is free-to-use and 97% of all ATM transactions are conducted on free-to-use ATMs.<\/p>
<\/p>
The Government has made no formal assessment of the effects of banning ATM charges, but is closely monitoring developments within the UK\u2019s ATM network, as is the Payment Systems Regulator (PSR). The Government established the PSR in 2015 with a statutory objective to ensure that the UK\u2019s payment systems work in the interests of their users.<\/p>
<\/p>
The PSR have set out three requirements of LINK: that LINK must maintain the current geographical spread of ATMs; that any changes made to ATM interchange fees must be incremental to allow LINK to monitor the impact and take action if the impact is not as expected; and for a greater focus on LINK\u2019s financial inclusion programme, to continue to fill gaps in the network.<\/p>
<\/p>
The PSR has committed to using its powers to act should LINK behave in a way that conflicts with its statutory objectives and recently announced it would direct LINK to fully develop its policies for meeting its commitments.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2018-09-13", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-09-13T14:48:58.76Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2018-09-10", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Cash Dispensing: Fees and Charges"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of introducing legislative proposals to remove ATM charges.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4363", "label" : {"_value" : "Biography information for Kate Hollern"} } , "tablingMemberConstituency" : {"_value" : "Blackburn"} , "tablingMemberPrinted" : [{"_value" : "Kate Hollern"} ], "uin" : "172544"} , {"_about" : "http://data.parliament.uk/resources/934130", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/934130/answer", "answerText" : {"_value" : "
The Governor of the Bank of England and the Chancellor discuss economic and financial developments on a regular basis.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4097", "label" : {"_value" : "Biography information for Elizabeth Truss"} } , "answeringMemberConstituency" : {"_value" : "South West Norfolk"} , "answeringMemberPrinted" : {"_value" : "Elizabeth Truss"} , "dateOfAnswer" : {"_value" : "2018-07-10", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-07-10T14:54:09.373Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2018-07-03", "_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 discussions he has had with the Governor of the Bank of England on the effect of Government use of the retail price index on the Bank of England base rate.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4363", "label" : {"_value" : "Biography information for Kate Hollern"} } , "tablingMemberConstituency" : {"_value" : "Blackburn"} , "tablingMemberPrinted" : [{"_value" : "Kate Hollern"} ], "uin" : "160232"} , {"_about" : "http://data.parliament.uk/resources/930965", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/930965/answer", "answerText" : {"_value" : "
Since 2010, the headline corporation tax rate has been cut from 28 to 19 percent. Cutting corporation tax allows companies to invest in expanding their business, boost wages, create jobs and lower prices for consumers.<\/p>
<\/p>
Despite the cuts, onshore corporation tax receipts have increased by around 50%, from £36.2bn in 2010-11 to £53.6bn in 2016-17.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3935", "label" : {"_value" : "Biography information for Mel Stride"} } , "answeringMemberConstituency" : {"_value" : "Central Devon"} , "answeringMemberPrinted" : {"_value" : "Mel Stride"} , "dateOfAnswer" : {"_value" : "2018-06-28", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-06-28T15:38:03.837Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2018-06-25", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Corporation Tax"} , "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 effect of the change to corporation tax on the public purse.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4363", "label" : {"_value" : "Biography information for Kate Hollern"} } , "tablingMemberConstituency" : {"_value" : "Blackburn"} , "tablingMemberPrinted" : [{"_value" : "Kate Hollern"} ], "uin" : "157172"} , {"_about" : "http://data.parliament.uk/resources/929383", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/929383/answer", "answerText" : {"_value" : "
On 18 June, the Prime Minister set out that the NHS in England will receive an increase in funding over the next five years that equates to over £20 billion additional real terms funding a year by 2023-24.<\/p>
<\/p>
It\u2019s because of our balanced approach to public spending that we\u2019re able to do this. In order to ensure we don\u2019t pass on extra debt to the next generation, it will be funded from a combination of sources, including funding we will no longer be sending to the EU. The Chancellor will set out further detail at Budget.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4097", "label" : {"_value" : "Biography information for Elizabeth Truss"} } , "answeringMemberConstituency" : {"_value" : "South West Norfolk"} , "answeringMemberPrinted" : {"_value" : "Elizabeth Truss"} , "dateOfAnswer" : {"_value" : "2018-06-27", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2018-06-27T13:50:24.723Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2018-06-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "NHS: Finance"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask Mr Chancellor of the Exchequer, how his Department plans to fund the additional £20bn for the NHS announced on 18 June 2018 through (a) tax increases and (b) other means.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4363", "label" : {"_value" : "Biography information for Kate Hollern"} } , "tablingMemberConstituency" : {"_value" : "Blackburn"} , "tablingMemberPrinted" : [{"_value" : "Kate Hollern"} ], "uin" : "156632"} ], "itemsPerPage" : 10, "page" : 0, "startIndex" : 1, "totalResults" : 5, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }