https://www.parliament.uk/documents/commons-committees/treasury/Correspondence/2017-19/EST-to-Charles-Randell-FCA-010419.pdf<\/a><\/p> <\/p>
In this letter, I announced that I would order an investigation into the failure of LCF, using Treasury powers under section 77 of the Financial Services Act 2012. I want to make sure we have the strongest and safest financial system possible. By ordering this investigation, we will better understand the circumstances around the collapse of LCF and make sure we are properly protecting those who invest their money in the future.<\/p>
<\/p>
The role of the Treasury in this investigation is set out in sections 77 to 82 of the Financial Services Act 2012. It is essential that the terms of the investigation are set in a way that ensures these objectives are met and take into account any issues arising from current regulatory and enforcement investigations. HM Treasury officials are working to develop these with the relevant bodies as a matter of priority. Further details on this investigation, including its duration and the reporting arrangements, will be published shortly.<\/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" : "2019-05-09", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "250750"}
, {"_value" : "250752"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-09T15:03:17.683Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-03", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "London Capital & Finance"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, when his Department first had discussions with the Financial Conduct Authority on its performance in regulating the activity of London Finance and Capital.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/410", "label" : {"_value" : "Biography information for Jon Trickett"}
}
, "tablingMemberConstituency" : {"_value" : "Hemsworth"}
, "tablingMemberPrinted" : [{"_value" : "Jon Trickett"}
], "uin" : "250753"}
, {"_about" : "http://data.parliament.uk/resources/1124713", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124713/answer", "answerText" : {"_value" : "
The Government introduced the Marriage Allowance in April 2015. Every time the personal allowance increases, the Marriage Allowance automatically becomes more generous.<\/p>The increase to personal allowance to £12,500 means that, from April this year, eligible couples will be able to transfer £1,250, compared to £1,060 in 2015-16. This means that in 2019-20, eligible couples can receive a tax reduction of up to £250, or £1,150 if they make a backdated claim to 2015-16.
<\/p>
The Marriage Allowance was introduced specifically to recognise marriage and civil partnerships in the tax system. Therefore, the Government has made no assessment of extending Marriage Allowance to cohabiting couples.<\/p>
<\/p>
The majority of benefits are paid on a household basis and the Government currently has no plans to change this.<\/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" : "2019-05-09", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-09T13:34:34.343Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-03", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Social Security Benefits: Cohabitation"}
, "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 assessment he has made of the potential merits of extending (a) the marriage allowance and (b) other benefits to long-term cohabiting couples.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4672", "label" : {"_value" : "Biography information for Ged Killen"}
}
, "tablingMemberConstituency" : {"_value" : "Rutherglen and Hamilton West"}
, "tablingMemberPrinted" : [{"_value" : "Ged Killen"}
], "uin" : "250798"}
, {"_about" : "http://data.parliament.uk/resources/1124728", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124728/answer", "answerText" : {"_value" : "
The Government receives a wide range of representations from stakeholders on all matters of fiscal policy, including free ports. We consider all of them in the normal process at fiscal events.<\/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" : "2019-05-09", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-09T13:31:29.47Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-03", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Freeports"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, when the Government expects to publish its policy paper on free ports.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/478", "label" : {"_value" : "Biography information for Lord Field of Birkenhead"}
}
, "tablingMemberConstituency" : {"_value" : "Birkenhead"}
, "tablingMemberPrinted" : [{"_value" : "Frank Field"}
], "uin" : "250757"}
, {"_about" : "http://data.parliament.uk/resources/1124170", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124170/answer", "answerText" : {"_value" : "
Last year, Government launched a Call for Evidence on Cash and Digital Payments in the New Economy. One part of the wide range of evidence collected detailed the changing levels of cash usage. Responses showed that, although the proportion of cash transactions is expected to fall over the next 10 years, cash remains important in the lives of many people and businesses across the UK. That\u2019s why the Government is committed to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.<\/p>
<\/p>
The Government has not made an assessment of the effect on poor households of free-to-use ATMs becoming pay-to-use. However, the Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision, including those that are free-to-use. The PSR regulates LINK, the scheme which runs the UK\u2019s ATM network, and has used its powers to hold LINK to account over LINK\u2019s commitments to preserve the broad geographic spread of the ATM network.<\/p>
<\/p>
The PSR has set out requirements of LINK, including that any cuts to interchange fees (the fees which fund free-to-use ATMs) must be incremental, with action taken by LINK where the impact is not as expected. Having implemented two of the four planned incremental reductions to the interchange fee, LINK has cancelled the third reduction and put on hold the fourth. The PSR welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions. These adjustments gave the PSR further assurances that LINK is committed to making sure communities do not lose their free-to-use ATMs.<\/p>
<\/p>
LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme by tripling the funding available to ATMs in the most deprived areas of the UK and undertaken new financial support for ATMs in remote and deprived areas.<\/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" : "2019-05-08", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "249935"}
, {"_value" : "249936"}
, {"_value" : "249937"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-08T14:29:23.897Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-01", "_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, what steps he is taking to ensure that reductions in the interchange rate do not result in free ATMs becoming pay ATMs.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4124", "label" : {"_value" : "Biography information for Chi Onwurah"}
}
, "tablingMemberConstituency" : {"_value" : "Newcastle upon Tyne Central"}
, "tablingMemberPrinted" : [{"_value" : "Chi Onwurah"}
], "uin" : "249934"}
, {"_about" : "http://data.parliament.uk/resources/1124172", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124172/answer", "answerText" : {"_value" : "
Last year, Government launched a Call for Evidence on Cash and Digital Payments in the New Economy. One part of the wide range of evidence collected detailed the changing levels of cash usage. Responses showed that, although the proportion of cash transactions is expected to fall over the next 10 years, cash remains important in the lives of many people and businesses across the UK. That\u2019s why the Government is committed to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.<\/p>
<\/p>
The Government has not made an assessment of the effect on poor households of free-to-use ATMs becoming pay-to-use. However, the Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision, including those that are free-to-use. The PSR regulates LINK, the scheme which runs the UK\u2019s ATM network, and has used its powers to hold LINK to account over LINK\u2019s commitments to preserve the broad geographic spread of the ATM network.<\/p>
<\/p>
The PSR has set out requirements of LINK, including that any cuts to interchange fees (the fees which fund free-to-use ATMs) must be incremental, with action taken by LINK where the impact is not as expected. Having implemented two of the four planned incremental reductions to the interchange fee, LINK has cancelled the third reduction and put on hold the fourth. The PSR welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions. These adjustments gave the PSR further assurances that LINK is committed to making sure communities do not lose their free-to-use ATMs.<\/p>
<\/p>
LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme by tripling the funding available to ATMs in the most deprived areas of the UK and undertaken new financial support for ATMs in remote and deprived areas.<\/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" : "2019-05-08", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "249934"}
, {"_value" : "249936"}
, {"_value" : "249937"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-08T14:29:23.96Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-01", "_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 effect on poorer households of recent increases in the number of free ATMs becoming pay ATMs; and if he will make a statement.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4124", "label" : {"_value" : "Biography information for Chi Onwurah"}
}
, "tablingMemberConstituency" : {"_value" : "Newcastle upon Tyne Central"}
, "tablingMemberPrinted" : [{"_value" : "Chi Onwurah"}
], "uin" : "249935"}
, {"_about" : "http://data.parliament.uk/resources/1124174", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124174/answer", "answerText" : {"_value" : "
Last year, Government launched a Call for Evidence on Cash and Digital Payments in the New Economy. One part of the wide range of evidence collected detailed the changing levels of cash usage. Responses showed that, although the proportion of cash transactions is expected to fall over the next 10 years, cash remains important in the lives of many people and businesses across the UK. That\u2019s why the Government is committed to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.<\/p>
<\/p>
The Government has not made an assessment of the effect on poor households of free-to-use ATMs becoming pay-to-use. However, the Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision, including those that are free-to-use. The PSR regulates LINK, the scheme which runs the UK\u2019s ATM network, and has used its powers to hold LINK to account over LINK\u2019s commitments to preserve the broad geographic spread of the ATM network.<\/p>
<\/p>
The PSR has set out requirements of LINK, including that any cuts to interchange fees (the fees which fund free-to-use ATMs) must be incremental, with action taken by LINK where the impact is not as expected. Having implemented two of the four planned incremental reductions to the interchange fee, LINK has cancelled the third reduction and put on hold the fourth. The PSR welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions. These adjustments gave the PSR further assurances that LINK is committed to making sure communities do not lose their free-to-use ATMs.<\/p>
<\/p>
LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme by tripling the funding available to ATMs in the most deprived areas of the UK and undertaken new financial support for ATMs in remote and deprived areas.<\/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" : "2019-05-08", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "249934"}
, {"_value" : "249935"}
, {"_value" : "249937"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-08T14:29:24.007Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-01", "_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, what discussions he has had with the Payment Services Regulator on the effect of changes to LINK rates; and whether he plans to re-impose interchange rates at LINK cost study levels.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4124", "label" : {"_value" : "Biography information for Chi Onwurah"}
}
, "tablingMemberConstituency" : {"_value" : "Newcastle upon Tyne Central"}
, "tablingMemberPrinted" : [{"_value" : "Chi Onwurah"}
], "uin" : "249936"}
, {"_about" : "http://data.parliament.uk/resources/1124176", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1124176/answer", "answerText" : {"_value" : "
Last year, Government launched a Call for Evidence on Cash and Digital Payments in the New Economy. One part of the wide range of evidence collected detailed the changing levels of cash usage. Responses showed that, although the proportion of cash transactions is expected to fall over the next 10 years, cash remains important in the lives of many people and businesses across the UK. That\u2019s why the Government is committed to supporting digital payments, whilst safeguarding access to cash for those who need it. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic.<\/p>
<\/p>
The Government has not made an assessment of the effect on poor households of free-to-use ATMs becoming pay-to-use. However, the Government-established Payment Systems Regulator (PSR) is closely monitoring developments in ATM provision, including those that are free-to-use. The PSR regulates LINK, the scheme which runs the UK\u2019s ATM network, and has used its powers to hold LINK to account over LINK\u2019s commitments to preserve the broad geographic spread of the ATM network.<\/p>
<\/p>
The PSR has set out requirements of LINK, including that any cuts to interchange fees (the fees which fund free-to-use ATMs) must be incremental, with action taken by LINK where the impact is not as expected. Having implemented two of the four planned incremental reductions to the interchange fee, LINK has cancelled the third reduction and put on hold the fourth. The PSR welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions. These adjustments gave the PSR further assurances that LINK is committed to making sure communities do not lose their free-to-use ATMs.<\/p>
<\/p>
LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. LINK has also enhanced its Financial Inclusion Programme by tripling the funding available to ATMs in the most deprived areas of the UK and undertaken new financial support for ATMs in remote and deprived areas.<\/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" : "2019-05-08", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : [{"_value" : "249934"}
, {"_value" : "249935"}
, {"_value" : "249936"}
], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-05-08T14:29:24.053Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-05-01", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Personal Income"}
, "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 his Department has made of the proportion of household income spent as cash in the last 12 months; and what projection his Department has made of changes in the level of income and spending with cash in the next 10 years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4124", "label" : {"_value" : "Biography information for Chi Onwurah"}
}
, "tablingMemberConstituency" : {"_value" : "Newcastle upon Tyne Central"}
, "tablingMemberPrinted" : [{"_value" : "Chi Onwurah"}
], "uin" : "249937"}
], "itemsPerPage" : 10, "next" : "http://eldaddp.azurewebsites.net/answeredquestions.text?_page=1&answeringDeptId=14&max-answer.dateOfAnswer=2019-05-09", "page" : 0, "startIndex" : 1, "totalResults" : 14231, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]}
}