The 2023 Green Finance Strategy set out the Government\u2019s commitment to deliver a UK Green Taxonomy to support an increase in financing for activities supporting the transition to net zero and delivering on UK environmental objectives. It also announced that we expect to consult on the Taxonomy in Autumn 2023.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4874", "label" : {"_value" : "Biography information for Andrew Griffith"} } , "answeringMemberConstituency" : {"_value" : "Arundel and South Downs"} , "answeringMemberPrinted" : {"_value" : "Andrew Griffith"} , "dateOfAnswer" : {"_value" : "2023-11-13", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-11-13T13:53:39.903Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-11-08", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Financial Services: Environment Protection"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, with reference to the Green Finance Strategy, when the Government plans to publish the consultation on introducing a Green Taxonomy for the UK.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1491", "label" : {"_value" : "Biography information for Kerry McCarthy"} } , "tablingMemberConstituency" : {"_value" : "Bristol East"} , "tablingMemberPrinted" : [{"_value" : "Kerry McCarthy"} ], "uin" : "713"} , {"_about" : "http://data.parliament.uk/resources/1667519", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1667519/answer", "answerText" : {"_value" : "
Individuals\u2019 privacy, user control and the proper use of data in line with UK data protection laws are of paramount importance to the design of any digital currency.<\/p>
<\/p>
A digital pound would be subject to rigorous standards of privacy and data protection. Neither the Government nor the Bank of England would have access to personal data, nor be able to see how consumers use their money.<\/p>
The Government has committed to bring forward legislation in Parliament prior to any Digital Pound being introduced.<\/p>
The Government and Bank of England consulted on these privacy features of the potential digital pound over February-June 2023, and are currently reviewing the feedback received. A consultation response will be published in due course.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4874", "label" : {"_value" : "Biography information for Andrew Griffith"} } , "answeringMemberConstituency" : {"_value" : "Arundel and South Downs"} , "answeringMemberPrinted" : {"_value" : "Andrew Griffith"} , "dateOfAnswer" : {"_value" : "2023-11-13", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-11-13T13:56:24.923Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-11-07", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Central Bank Digital Currencies"} , "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 assessment he has made of the potential impact of a UK central bank digital currency on the right to privacy.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/373", "label" : {"_value" : "Biography information for Sir David Davis"} } , "tablingMemberConstituency" : {"_value" : "Haltemprice and Howden"} , "tablingMemberPrinted" : [{"_value" : "Mr David Davis"} ], "uin" : "44"} , {"_about" : "http://data.parliament.uk/resources/1666841", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1666841/answer", "answerText" : {"_value" : "
The government has spoken to numerous industry participants who have supported the development of the government\u2019s practical understanding of the potential advantages of digital ledger technology (DLT) to financial markets, the design choices around the technology\u2019s implementation, and the legal considerations associated with digital securities.<\/p>
<\/p>
We are not actively pursuing an issuance of a DLT sovereign debt instrument at this time. We will continue to monitor market developments relating to the use of DLT within capital markets, including how these may impact the government as a market participant in future.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4874", "label" : {"_value" : "Biography information for Andrew Griffith"} } , "answeringMemberConstituency" : {"_value" : "Arundel and South Downs"} , "answeringMemberPrinted" : {"_value" : "Andrew Griffith"} , "dateOfAnswer" : {"_value" : "2023-10-26", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-10-26T09:47:14.877Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-10-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Government Securities"} , "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 recent discussions he has had with industry stakeholders on the issuing of a digital gilt.", "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" : "Sir Stephen Timms"} ], "uin" : "203991"} , {"_about" : "http://data.parliament.uk/resources/1666492", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1666492/answer", "answerText" : {"_value" : "
Treasury ministers and officials hold regular discussions with businesses, both individually and through their representative organisations such as the Federation of Small Businesses, the Institute of Directors, The 100 Group and the British Chambers of Commerce, on a range of issues affecting businesses including interest rates.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4874", "label" : {"_value" : "Biography information for Andrew Griffith"} } , "answeringMemberConstituency" : {"_value" : "Arundel and South Downs"} , "answeringMemberPrinted" : {"_value" : "Andrew Griffith"} , "dateOfAnswer" : {"_value" : "2023-10-26", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-10-26T09:59:16.903Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-10-23", "_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 the Chancellor of the Exchequer, what recent discussions his Department has had with business on interest rates.", "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" : "203838"} , {"_about" : "http://data.parliament.uk/resources/1666499", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1666499/answer", "answerText" : {"_value" : "
The taxation of interest arising on savings bonds depends on the terms and conditions applying to each and may differ as not all savings bonds are the same.<\/p>
<\/p>
Income tax is charged on the full amount of interest \u2018arising\u2019 to a person in a tax year and interest normally \u2018arises\u2019 when the amount is received or is credited to an account on which the holder is free to draw.<\/p>
<\/p>
The terms of a savings bond may be that interest is credited each year and, once credited, the bondholder is able to draw on it. In this case, the interest arises each year and is taxed each year as it is credited.<\/p>
<\/p>
On the other hand, it is possible that interest may be credited each year, but the terms of the bond may mean the bondholder cannot draw on it or benefit from it until the end of the term. In that case all the interest paid on the bond would be regarded as \u2018arising\u2019 when it became available to the bondholder on maturity of the bond.<\/p>
<\/p>