The Financial Services Compensation Scheme (FSCS) protects customers when a financial services firm fails, and is independent from government and industry. It is accountable to both the Financial Conduct Authority and Prudential Regulation Authority for the effective operation of the scheme.<\/p>
<\/p>
Her Majesty\u2019s Treasury has conducted no formal assessment of the effect on the customers of Alpha insurance of the decision taken by the FSCS to award return of premium refunds following its insolvency. The rules setting out the operation of the scheme allow for premium refund compensation, where a suitable replacement provider cannot be found to take on the policies of an insolvent firm.<\/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" : "2019-10-29", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-10-29T13:37:17.917Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Alpha Insurance"} , "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 effect on Alpha insurance customers of the decision by the Financial Services Compensation Scheme to award only premium insurance refunds to those people following the bankruptcy of that company.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4524", "label" : {"_value" : "Biography information for Peter Heaton-Jones"} } , "tablingMemberConstituency" : {"_value" : "North Devon"} , "tablingMemberPrinted" : [{"_value" : "Peter Heaton-Jones"} ], "uin" : "5079"} , {"_about" : "http://data.parliament.uk/resources/1156088", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1156088/answer", "answerText" : {"_value" : "
By 24 October 2019 over 1.25 million businesses had joined the new MTD service and over 1.75 million VAT returns had been successfully submitted using MTD-compatible software.<\/p>
<\/p>
HM Revenue and Customs (HMRC) have worked with and taken feedback from stakeholders including Defra and the National Farmers\u2019 Union, to help shape the design and to understand the impact of the MTD service. An assessment of the impact on smaller, rural businesses is included within the wider Impact Assessment.<\/p>
<\/p>
Broadband connectivity was presented as a particular challenge for some rural communities. The Government has committed more than £1 billion for the next generation of digital infrastructure, with the Chancellor recently announcing a £5 billion commitment to fund gigabit-capable (speeds of 1,000Mbps>) deployment in the hardest to reach 20% of UK premises. This will close the digital divide and ensure rural areas are not left behind.<\/p>
<\/p>
Those that cannot go digital are already not required to join MTD.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/3991", "label" : {"_value" : "Biography information for Jesse Norman"} } , "answeringMemberConstituency" : {"_value" : "Hereford and South Herefordshire"} , "answeringMemberPrinted" : {"_value" : "Jesse Norman"} , "dateOfAnswer" : {"_value" : "2019-10-31", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-10-31T15:59:24.157Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Taxation: Electronic Government"} , "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 assessments were undertaken on the negative effects on smaller, rural businesses of Making Tax Digital.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4048", "label" : {"_value" : "Biography information for Caroline Nokes"} } , "tablingMemberConstituency" : {"_value" : "Romsey and Southampton North"} , "tablingMemberPrinted" : [{"_value" : "Caroline Nokes"} ], "uin" : "4989"} , {"_about" : "http://data.parliament.uk/resources/1156093", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1156093/answer", "answerText" : {"_value" : "
On 1 April 2014 the Government transferred regulatory responsibility for the consumer credit market, including motor finance products, from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA). The Government has given the FCA robust powers to protect consumers and supports the work undertaken by the FCA to reduce consumer harm in this sector.<\/p>
<\/p>
In March 2019 the FCA released the report: Our work on motor finance \u2013 final findings<\/em>. In their report, the FCA expressed concern about the extent to which broker discretion is allowed over interest rates in certain commission structures and said that they are considering possible responses, such as strengthening existing provisions and banning certain commission structures.<\/p> <\/p> As required by the Financial Services and Markets Act 2000 (FSMA), the FCA must undertake detailed cost benefit analysis of their proposals. This assessment was published in October 2019 as part of their ongoing consultation on changes to the rules governing the motor finance industry.<\/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" : "2019-10-29", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-10-29T10:43:05.67Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Cars: Loans"}
, "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 has been made of the effect on the car industry of changes to car finance loan terms following the publication of the FCA's March 2019 report entitled Our work on motor finance - final findings.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4523", "label" : {"_value" : "Biography information for Catherine West"}
}
, "tablingMemberConstituency" : {"_value" : "Hornsey and Wood Green"}
, "tablingMemberPrinted" : [{"_value" : "Catherine West"}
], "uin" : "5078"}
, {"_about" : "http://data.parliament.uk/resources/1156151", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1156151/answer", "answerText" : {"_value" : " The Royal Mint has paused production of the coin to mark the UK\u2019s exit from the EU.<\/p> <\/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" : "2019-10-29", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-10-29T13:47:34.393Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Coinage"}
, "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 work has commenced on minting the 50 pence coin to mark the UK's exit from the EU.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1579", "label" : {"_value" : "Biography information for Mary Creagh"}
}
, "tablingMemberConstituency" : {"_value" : "Wakefield"}
, "tablingMemberPrinted" : [{"_value" : "Mary Creagh"}
], "uin" : "4962"}
, {"_about" : "http://data.parliament.uk/resources/1156167", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1156167/answer", "answerText" : {"_value" : " I refer the Honourable Member to the response to PQ UIN 4378 on 28 October 2019.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4483", "label" : {"_value" : "Biography information for Rishi Sunak"}
}
, "answeringMemberConstituency" : {"_value" : "Richmond (Yorks)"}
, "answeringMemberPrinted" : {"_value" : "Rishi Sunak"}
, "dateOfAnswer" : {"_value" : "2019-10-29", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : {"_value" : "5033"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-10-29T13:39:36.27Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Public Expenditure: Northern Ireland"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, which (a) projects and (b) schemes in Northern Ireland were funded in (a) part and (b) in whole by financial transactions capital since 2012-13; and what the chargeable interest rate was for that funding.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4360", "label" : {"_value" : "Biography information for Gavin Robinson"}
}
, "tablingMemberConstituency" : {"_value" : "Belfast East"}
, "tablingMemberPrinted" : [{"_value" : "Gavin Robinson"}
], "uin" : "5032"}
, {"_about" : "http://data.parliament.uk/resources/1156168", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1156168/answer", "answerText" : {"_value" : " I refer the Honourable Member to the response to PQ UIN 4378 on 28 October 2019.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4483", "label" : {"_value" : "Biography information for Rishi Sunak"}
}
, "answeringMemberConstituency" : {"_value" : "Richmond (Yorks)"}
, "answeringMemberPrinted" : {"_value" : "Rishi Sunak"}
, "dateOfAnswer" : {"_value" : "2019-10-29", "_datatype" : "dateTime"}
, "groupedQuestionUIN" : {"_value" : "5032"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-10-29T13:39:36.223Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Public Expenditure: Northern Ireland"}
, "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 allocation of financial transactions capital, what the average approval time was for an application in Northern Ireland.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4360", "label" : {"_value" : "Biography information for Gavin Robinson"}
}
, "tablingMemberConstituency" : {"_value" : "Belfast East"}
, "tablingMemberPrinted" : [{"_value" : "Gavin Robinson"}
], "uin" : "5033"}
, {"_about" : "http://data.parliament.uk/resources/1156176", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1156176/answer", "answerText" : {"_value" : " Agreeing the Withdrawal Agreement is self-evidently in our economic interest. It would bring an end to the damaging uncertainty and delay of the past years, and allow businesses to get on with taking decisions, including around recruitment and investment.<\/p> <\/p> Approving the Withdrawal Agreement would also allow us to get on with the process of agreeing a mutually beneficial new trading relationship with our European friends - a comprehensive and ambitious free trade agreement (FTA). Leaving the Customs Union and Single Market allows the UK to pursue an ambitious FTA with the EU as sovereign equals, as well as striking trade deals with other international partners.<\/p> <\/p> The specifics of our own agreement will be the subject of the next phase of negotiations. We will keep Parliament updated throughout those discussions and provide analysis at appropriate points.<\/p> <\/p> The OBR will, of course, continue to take Government policy \u2013 including the UK\u2019s future relationship with the EU \u2013 as the basis for its economic and fiscal forecasts, and will provide its usual comprehensive analysis as part of these.<\/p> <\/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" : "2019-10-29", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-10-29T13:51:35.067Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Economic Situation"}
, "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 benefits to the UK's economy over the next 10 years of the UK leaving the EU.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/116", "label" : {"_value" : "Biography information for Lord Soames of Fletching"}
}
, "tablingMemberConstituency" : {"_value" : "Mid Sussex"}
, "tablingMemberPrinted" : [{"_value" : "Sir Nicholas Soames"}
], "uin" : "4909"}
, {"_about" : "http://data.parliament.uk/resources/1156215", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1156215/answer", "answerText" : {"_value" : " We do not comment on the Royal Mint\u2019s production lead times as this is commercially sensitive information.<\/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" : "2019-10-29", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-10-29T13:49:39.43Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Coinage"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, how many 50 pence coins commemorating the UK leaving the EU have been minted as of 24 October 2019.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/534", "label" : {"_value" : "Biography information for Chris Ruane"}
}
, "tablingMemberConstituency" : {"_value" : "Vale of Clwyd"}
, "tablingMemberPrinted" : [{"_value" : "Chris Ruane"}
], "uin" : "4938"}
, {"_about" : "http://data.parliament.uk/resources/1156240", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1156240/answer", "answerText" : {"_value" : " The UK has extensive global financial services ties with both leading advanced markets and emerging markets. When we leave the EU, we will have new tools at our disposal, which we will take advantage of to enhance our key financial services relationships. These include the chance to forge deep bilateral regulatory agreements based on equivalence and mutual recognition, and the opportunity to negotiate on financial services in Free Trade Agreements. We will also continue to use existing tools, such as engagement in the international standard setting bodies.<\/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" : "2019-10-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-10-31T17:07:42.373Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Financial Services: International Cooperation"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, if he will take steps to establish a new global platform agreement for financial services.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4064", "label" : {"_value" : "Biography information for Mr Steve Baker"}
}
, "tablingMemberConstituency" : {"_value" : "Wycombe"}
, "tablingMemberPrinted" : [{"_value" : "Mr Steve Baker"}
], "uin" : "5016"}
, {"_about" : "http://data.parliament.uk/resources/1156242", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1156242/answer", "answerText" : {"_value" : " On 24 October 2019, following my meeting with Matt Hammerstein, CEO Barclays UK, Barclays announced that they will commit to full participation in the Post Office Banking Framework from the renewal date in early 2020, including maintaining the cash withdrawal facility using debit cards for Barclays customers.<\/p> <\/p> The Government has been clear that industry must play a key role in ensuring access to cash and banking services for people and businesses, and welcomes this decision which will continue to allow 95% of business and 99% of personal banking customers to carry out their everyday banking services at over 11,500 post offices across the UK.<\/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" : "2019-10-29", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-10-29T13:42:32.423Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Barclays: Post Office"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, pursuant to the Answer of 22 October 2019 to Question 1792, on Barclays: Post Office, what assessment he has made of the effect of Barclays Bank's planned withdrawal from the banking framework with Post Office Ltd on customers in rural areas who (a) do not have access to the internet, (b) are over 75 years old and (c) have accessibility needs.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4718", "label" : {"_value" : "Biography information for Jane Dodds"}
}
, "tablingMemberConstituency" : {"_value" : "Brecon and Radnorshire"}
, "tablingMemberPrinted" : [{"_value" : "Jane Dodds"}
], "uin" : "5116"}
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