The Office of Financial Sanctions Implementation (OFSI)\u2019s, part of HM Treasury, announced in its 2022-2023 Annual Review that between February 2022 and October 2023, £22.7 billion in frozen funds had been reported in relation to the Russia sanctions regime. OFSI does not disclose the value held by particular designated persons and so the figure is provided as a cumulative total of assets reported.<\/p>
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Frozen assets are not transferred to HM Treasury and there is no change of ownership. Interest accrued on frozen assets remains subject to the asset freeze, and are to be frozen immediately by the person in possession or control of them. There is no obligation for a relevant institution to inform OFSI when it credits an account with interest and therefore OFSI does not hold this information.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4518", "label" : {"_value" : "Biography information for Tulip Siddiq"} } , "answeringMemberConstituency" : {"_value" : "Hampstead and Highgate"} , "answeringMemberPrinted" : {"_value" : "Tulip Siddiq"} , "dateOfAnswer" : {"_value" : "2024-09-09", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-09-09T10:00:11.097Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-08-30", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Russia: Sanctions"} , "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 much tax was taken on the interest accrued on Russian assets frozen in UK banks in each of the last five years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : "http://data.parliament.uk/members/5168", "tablingMemberConstituency" : {"_value" : "Newcastle-under-Lyme"} , "tablingMemberPrinted" : [{"_value" : "Adam Jogee"} ], "uin" : "3454"} , {"_about" : "http://data.parliament.uk/resources/1726184", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1726184/answer", "answerText" : {"_value" : "
The operator of the UK\u2019s largest ATM network, LINK, publishes data on the number of ATMs across each parliamentary constituency. This includes a breakdown of the number of pay-to-use ATMs operated by the LINK network. In the constituency of Newcastle-under-Lyme, LINK operated 17 pay-to-use ATMs out of a total of 81 cash access points.<\/p>
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The data can be accessed at: https://www.link.co.uk/data-research/the-atm-network<\/p>
<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4518", "label" : {"_value" : "Biography information for Tulip Siddiq"} } , "answeringMemberConstituency" : {"_value" : "Hampstead and Highgate"} , "answeringMemberPrinted" : {"_value" : "Tulip Siddiq"} , "dateOfAnswer" : {"_value" : "2024-09-05", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-09-05T14:16:46.42Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-08-30", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Cash Dispensing: Newcastle-under-Lyme"} , "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 she will make an estimate of the number of pay to use ATMs in Newcastle-under-Lyme constituency.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : "http://data.parliament.uk/members/5168", "tablingMemberConstituency" : {"_value" : "Newcastle-under-Lyme"} , "tablingMemberPrinted" : [{"_value" : "Adam Jogee"} ], "uin" : "3471"} , {"_about" : "http://data.parliament.uk/resources/1726185", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1726185/answer", "answerText" : {"_value" : "
While the ongoing trend in payments in the UK has been away from cash and towards digital payment methods, the government recognises that cash continues to be used by millions of people across the UK, including those who may be in vulnerable groups.<\/p>
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For this reason, cash access has been protected in UK law. The Financial Services and Markets Act 2023 provides the Financial Conduct Authority (FCA) with responsibility and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities across the UK.<\/p>
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In July 2024, the FCA published its final rules setting out its approach to regulating access to cash, which come into force on 18 September. Under these rules, designated firms \u2013 which include the UK\u2019s largest banks and building societies, as well as the ATM operator, LINK \u2013 will be required to conduct an assessment in response to a service closure or a cash access request from local residents, community organisations and representatives, and provide additional cash services if there is a need for it. LINK conducts these assessments of access to cash needs in communities and can recommend additional shared services, such as shared Banking Hubs or cash deposit services. Further information can be found via its website.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4518", "label" : {"_value" : "Biography information for Tulip Siddiq"} } , "answeringMemberConstituency" : {"_value" : "Hampstead and Highgate"} , "answeringMemberPrinted" : {"_value" : "Tulip Siddiq"} , "dateOfAnswer" : {"_value" : "2024-09-05", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-09-05T14:12:59.567Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-08-30", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Cash Dispensing: Newcastle-under-Lyme"} , "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 she will take steps to increase access to cash in Newcastle-under-Lyme constituency.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : "http://data.parliament.uk/members/5168", "tablingMemberConstituency" : {"_value" : "Newcastle-under-Lyme"} , "tablingMemberPrinted" : [{"_value" : "Adam Jogee"} ], "uin" : "3472"} , {"_about" : "http://data.parliament.uk/resources/1524315", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1524315/answer", "answerText" : {"_value" : "
The Help to Buy: ISA scheme aims to help those who are struggling to save enough to get onto the housing ladder. As first-time buyers tend to buy smaller (and therefore cheaper) first properties, the scheme\u2019s property price cap of £250,000 for properties outside London (£450,000 within London) allows the Government to target support more precisely at the people the scheme is intended to help. Since its launch in 2015, the scheme has supported 497,940 property completions across the UK, with a mean property value of £176,125 compared with an average first-time buyer house price of £231,704.<\/p>
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While the Government keeps all aspects of savings policy under review, Help to Buy: ISA account holders can transfer their funds to a Lifetime ISA without incurring any penalties. The Lifetime ISA allows first-time buyers to benefit from the Government bonus when purchasing properties up to £450,000 anywhere in the UK.<\/p>
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Further information on the Lifetime ISA together with a comprehensive list other forms of home purchase support schemes can be found on the Government\u2019s website below:<\/p>
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