{ "format" : "linked-data-api", "version" : "0.2", "result" : {"_about" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberConstituency=Harlow&answeringDeptSortName=Treasury", "definition" : "http://eldaddp.azurewebsites.net/meta/answeredquestions.text?tablingMemberConstituency=Harlow&answeringDeptSortName=Treasury", "extendedMetadataVersion" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberConstituency=Harlow&answeringDeptSortName=Treasury&_metadata=all", "first" : "http://eldaddp.azurewebsites.net/answeredquestions.text?_page=0&tablingMemberConstituency=Harlow&answeringDeptSortName=Treasury", "hasPart" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberConstituency=Harlow&answeringDeptSortName=Treasury", "isPartOf" : "http://eldaddp.azurewebsites.net/answeredquestions.text?tablingMemberConstituency=Harlow&answeringDeptSortName=Treasury", "items" : [{"_about" : "http://data.parliament.uk/resources/1451752", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1451752/answer", "answerText" : {"_value" : "

The Loan Charge was announced at Budget 2016 as part of a package of measures to tackle Disguised Remuneration (DR) tax avoidance. The forecast was last revised at Spring Budget 2021. There was an estimated overall Exchequer yield of £3.3 billion for the entire package, including the Loan Charge.<\/p>

<\/p>

In September 2019, the Government commissioned an Independent Review into the Loan Charge which was led by Lord Morse. The Government accepted 19 of the 20 recommendations made by the review. Changes to the Loan Charge were estimated to reduce the forecast yield. At Budget 2020, the changes were costed as a separate measure, with an estimated reduction to the Exchequer yield of £745 million.<\/p>

<\/p>

HMRC is committed to continuing to tackle promoters and operators of tax avoidance schemes. This includes challenging the entities and individuals who promote disguised remuneration loan schemes.<\/p>

<\/p>

Promotion or operation of mass marketed tax avoidance schemes is not in and of itself a criminal offence. However, there are a range of offences which might be committed by those who promote tax avoidance schemes or advise on their use.<\/p>

<\/p>

On that basis, while to date there have been no prosecutions of individuals directly related to the promotion of schemes subject to the Loan Charge, a number of individuals are currently under criminal investigation by HMRC for offences linked to schemes subject to the Loan Charge.<\/p>

<\/p>

In addition to schemes subject to the Loan Charge, since 1 April 2016, more than 20 individuals have been convicted for offences relating to arrangements which have been promoted and marketed as tax avoidance, including offences related to DR. These have resulted in over 100 years of custodial sentences, the majority of which relate to promoters.<\/p>

<\/p>

<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4517", "label" : {"_value" : "Biography information for Lucy Frazer"} } , "answeringMemberConstituency" : {"_value" : "South East Cambridgeshire"} , "answeringMemberPrinted" : {"_value" : "Lucy Frazer"} , "dateOfAnswer" : {"_value" : "2022-03-22", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "141180"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-03-22T17:34:37.22Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-03-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Tax Avoidance"} , "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 estimate his Department has made of the revenue that will accrue to the Exchequer from the loan charge.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "141179"} , {"_about" : "http://data.parliament.uk/resources/1451753", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1451753/answer", "answerText" : {"_value" : "

The Loan Charge was announced at Budget 2016 as part of a package of measures to tackle Disguised Remuneration (DR) tax avoidance. The forecast was last revised at Spring Budget 2021. There was an estimated overall Exchequer yield of £3.3 billion for the entire package, including the Loan Charge.<\/p>

<\/p>

In September 2019, the Government commissioned an Independent Review into the Loan Charge which was led by Lord Morse. The Government accepted 19 of the 20 recommendations made by the review. Changes to the Loan Charge were estimated to reduce the forecast yield. At Budget 2020, the changes were costed as a separate measure, with an estimated reduction to the Exchequer yield of £745 million.<\/p>

<\/p>

HMRC is committed to continuing to tackle promoters and operators of tax avoidance schemes. This includes challenging the entities and individuals who promote disguised remuneration loan schemes.<\/p>

<\/p>

Promotion or operation of mass marketed tax avoidance schemes is not in and of itself a criminal offence. However, there are a range of offences which might be committed by those who promote tax avoidance schemes or advise on their use.<\/p>

<\/p>

On that basis, while to date there have been no prosecutions of individuals directly related to the promotion of schemes subject to the Loan Charge, a number of individuals are currently under criminal investigation by HMRC for offences linked to schemes subject to the Loan Charge.<\/p>

<\/p>

In addition to schemes subject to the Loan Charge, since 1 April 2016, more than 20 individuals have been convicted for offences relating to arrangements which have been promoted and marketed as tax avoidance, including offences related to DR. These have resulted in over 100 years of custodial sentences, the majority of which relate to promoters.<\/p>

<\/p>

<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4517", "label" : {"_value" : "Biography information for Lucy Frazer"} } , "answeringMemberConstituency" : {"_value" : "South East Cambridgeshire"} , "answeringMemberPrinted" : {"_value" : "Lucy Frazer"} , "dateOfAnswer" : {"_value" : "2022-03-22", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "141179"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-03-22T17:34:37.283Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-03-16", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Tax Avoidance: Prosecutions"} , "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 promoters and operators of schemes subject to the loan charge have been prosecuted for promoting and operating those schemes.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "141180"} , {"_about" : "http://data.parliament.uk/resources/1437005", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1437005/answer", "answerText" : {"_value" : "

In most cases the rebate will be delivered as a direct payment. This allows support to be provided up front rather than spread across the usual council tax instalments and means that households that don\u2019t pay council tax are not disadvantaged.<\/p>

<\/p>

Councils can, however, offer the option of a credit to council tax accounts to non-direct debit holders as part of the claims process. This is intended to help speed up the claims process (and limit the administrative burden on local authorities), and in recognition that not all taxpayers will want to provide payment details where not already held.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4655", "label" : {"_value" : "Biography information for Sir Simon Clarke"} } , "answeringMemberConstituency" : {"_value" : "Middlesbrough South and East Cleveland"} , "answeringMemberPrinted" : {"_value" : "Mr Simon Clarke"} , "dateOfAnswer" : {"_value" : "2022-03-15", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-03-15T14:21:08.14Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-03-01", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Energy Bills Rebate"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, for what reason local authorities are not able to make the £150 council tax rebate via residents' council tax bills rather than making a direct payment to council tax payers.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "132237"} , {"_about" : "http://data.parliament.uk/resources/1434137", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1434137/answer", "answerText" : {"_value" : "

The Department for Levelling Up, Housing and Communities has published guidance to local authorities on administering the council tax rebate. This can be found in the link below:<\/p>

<\/p>

The council tax rebate 2022-23 \u2013 billing authority guidance - GOV.UK (www.gov.uk)<\/a><\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4655", "label" : {"_value" : "Biography information for Sir Simon Clarke"} } , "answeringMemberConstituency" : {"_value" : "Middlesbrough South and East Cleveland"} , "answeringMemberPrinted" : {"_value" : "Mr Simon Clarke"} , "dateOfAnswer" : {"_value" : "2022-02-28", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "127362"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-02-28T14:40:05.237Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-02-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Energy Bills Rebate"} , "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 guidance is available to local authorities on the £150 Council Tax rebate.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "127361"} , {"_about" : "http://data.parliament.uk/resources/1434138", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1434138/answer", "answerText" : {"_value" : "

The Department for Levelling Up, Housing and Communities has published guidance to local authorities on administering the council tax rebate. This can be found in the link below:<\/p>

<\/p>

The council tax rebate 2022-23 \u2013 billing authority guidance - GOV.UK (www.gov.uk)<\/a><\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4655", "label" : {"_value" : "Biography information for Sir Simon Clarke"} } , "answeringMemberConstituency" : {"_value" : "Middlesbrough South and East Cleveland"} , "answeringMemberPrinted" : {"_value" : "Mr Simon Clarke"} , "dateOfAnswer" : {"_value" : "2022-02-28", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "127361"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-02-28T14:40:05.283Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-02-22", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Energy Bills Rebate"} , "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 method local authorities will use to distribute the Council Tax Rebate.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "127362"} , {"_about" : "http://data.parliament.uk/resources/1415812", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1415812/answer", "answerText" : {"_value" : "

HM Treasury regularly monitors changes in the consumer credit market as part of the normal process of policy development.<\/p>

<\/p>

The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later products, including the absence of information given to consumers about features of Buy-Now Pay-Later agreements. The Government recognises those risks, but also notes that as an interest-free product, Buy-Now Pay-Later can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why, on 2 February 2021, the Government announced its intention to regulate Buy-Now Pay-Later products in a proportionate manner.<\/p>

<\/p>

The Government published a consultation on policy proposals for the regulation of Buy-Now Pay-Later on 21 October 2021, which closed on 6 January. The consultation included proposals to apply Financial Conduct Authority (FCA) rules on pre-contract disclosure and adequate explanations to Buy-Now Pay-Later agreements. These rules require firms to make adequate pre-contractual explanation to ensure the customer is in a position to assess whether the agreement is suitable for their needs and financial situation.<\/p>

<\/p>

The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.<\/p>

<\/p>

HMT does not hold information regarding the number of 18- to 24-year-olds who have been referred to debt collection agencies by Buy-Now Pay-Later in the last 12 months, or the amount collected in late payment fees by the Buy-Now Pay-Later sector in each of the last three years. Instead, HMT draws on the research of various stakeholders including consumer groups and the wider financial services 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" : "2022-01-31", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "110323"} , {"_value" : "110324"} , {"_value" : "110325"} , {"_value" : "110326"} , {"_value" : "110647"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-01-31T16:29:27.667Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-01-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Credit"} , "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 implications for his policies of the increase in the number of people using buy now, pay later services.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "110322"} , {"_about" : "http://data.parliament.uk/resources/1415813", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1415813/answer", "answerText" : {"_value" : "

HM Treasury regularly monitors changes in the consumer credit market as part of the normal process of policy development.<\/p>

<\/p>

The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later products, including the absence of information given to consumers about features of Buy-Now Pay-Later agreements. The Government recognises those risks, but also notes that as an interest-free product, Buy-Now Pay-Later can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why, on 2 February 2021, the Government announced its intention to regulate Buy-Now Pay-Later products in a proportionate manner.<\/p>

<\/p>

The Government published a consultation on policy proposals for the regulation of Buy-Now Pay-Later on 21 October 2021, which closed on 6 January. The consultation included proposals to apply Financial Conduct Authority (FCA) rules on pre-contract disclosure and adequate explanations to Buy-Now Pay-Later agreements. These rules require firms to make adequate pre-contractual explanation to ensure the customer is in a position to assess whether the agreement is suitable for their needs and financial situation.<\/p>

<\/p>

The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.<\/p>

<\/p>

HMT does not hold information regarding the number of 18- to 24-year-olds who have been referred to debt collection agencies by Buy-Now Pay-Later in the last 12 months, or the amount collected in late payment fees by the Buy-Now Pay-Later sector in each of the last three years. Instead, HMT draws on the research of various stakeholders including consumer groups and the wider financial services 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" : "2022-01-31", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "110322"} , {"_value" : "110324"} , {"_value" : "110325"} , {"_value" : "110326"} , {"_value" : "110647"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-01-31T16:29:27.73Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-01-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Credit: Public Consultation"} , "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 he plans to publish a response to the consultation on the regulation of buy now pay later products which closed on 6 January 2022.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "110323"} , {"_about" : "http://data.parliament.uk/resources/1415814", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1415814/answer", "answerText" : {"_value" : "

HM Treasury regularly monitors changes in the consumer credit market as part of the normal process of policy development.<\/p>

<\/p>

The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later products, including the absence of information given to consumers about features of Buy-Now Pay-Later agreements. The Government recognises those risks, but also notes that as an interest-free product, Buy-Now Pay-Later can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why, on 2 February 2021, the Government announced its intention to regulate Buy-Now Pay-Later products in a proportionate manner.<\/p>

<\/p>

The Government published a consultation on policy proposals for the regulation of Buy-Now Pay-Later on 21 October 2021, which closed on 6 January. The consultation included proposals to apply Financial Conduct Authority (FCA) rules on pre-contract disclosure and adequate explanations to Buy-Now Pay-Later agreements. These rules require firms to make adequate pre-contractual explanation to ensure the customer is in a position to assess whether the agreement is suitable for their needs and financial situation.<\/p>

<\/p>

The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.<\/p>

<\/p>

HMT does not hold information regarding the number of 18- to 24-year-olds who have been referred to debt collection agencies by Buy-Now Pay-Later in the last 12 months, or the amount collected in late payment fees by the Buy-Now Pay-Later sector in each of the last three years. Instead, HMT draws on the research of various stakeholders including consumer groups and the wider financial services 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" : "2022-01-31", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "110322"} , {"_value" : "110323"} , {"_value" : "110325"} , {"_value" : "110326"} , {"_value" : "110647"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-01-31T16:29:27.777Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-01-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Credit: Young People"} , "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 estimate his Department has made of the number of 18 to 24 year olds who have been referred to debt collection agencies by buy now, pay later firms in the last 12 months.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "110324"} , {"_about" : "http://data.parliament.uk/resources/1415815", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1415815/answer", "answerText" : {"_value" : "

HM Treasury regularly monitors changes in the consumer credit market as part of the normal process of policy development.<\/p>

<\/p>

The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later products, including the absence of information given to consumers about features of Buy-Now Pay-Later agreements. The Government recognises those risks, but also notes that as an interest-free product, Buy-Now Pay-Later can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why, on 2 February 2021, the Government announced its intention to regulate Buy-Now Pay-Later products in a proportionate manner.<\/p>

<\/p>

The Government published a consultation on policy proposals for the regulation of Buy-Now Pay-Later on 21 October 2021, which closed on 6 January. The consultation included proposals to apply Financial Conduct Authority (FCA) rules on pre-contract disclosure and adequate explanations to Buy-Now Pay-Later agreements. These rules require firms to make adequate pre-contractual explanation to ensure the customer is in a position to assess whether the agreement is suitable for their needs and financial situation.<\/p>

<\/p>

The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.<\/p>

<\/p>

HMT does not hold information regarding the number of 18- to 24-year-olds who have been referred to debt collection agencies by Buy-Now Pay-Later in the last 12 months, or the amount collected in late payment fees by the Buy-Now Pay-Later sector in each of the last three years. Instead, HMT draws on the research of various stakeholders including consumer groups and the wider financial services 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" : "2022-01-31", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "110322"} , {"_value" : "110323"} , {"_value" : "110324"} , {"_value" : "110326"} , {"_value" : "110647"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-01-31T16:29:27.823Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-01-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Credit"} , "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 estimate his Department has made of amount collected in late payment fees by the buy now, pay later sector in each of the last three years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "110325"} , {"_about" : "http://data.parliament.uk/resources/1415816", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1415816/answer", "answerText" : {"_value" : "

HM Treasury regularly monitors changes in the consumer credit market as part of the normal process of policy development.<\/p>

<\/p>

The Woolard Review into the unsecured credit market found several potential risks of consumer detriment from interest-free Buy-Now Pay-Later products, including the absence of information given to consumers about features of Buy-Now Pay-Later agreements. The Government recognises those risks, but also notes that as an interest-free product, Buy-Now Pay-Later can often be lower-risk than other forms of borrowing and a useful tool to help consumers manage their finances. That is why, on 2 February 2021, the Government announced its intention to regulate Buy-Now Pay-Later products in a proportionate manner.<\/p>

<\/p>

The Government published a consultation on policy proposals for the regulation of Buy-Now Pay-Later on 21 October 2021, which closed on 6 January. The consultation included proposals to apply Financial Conduct Authority (FCA) rules on pre-contract disclosure and adequate explanations to Buy-Now Pay-Later agreements. These rules require firms to make adequate pre-contractual explanation to ensure the customer is in a position to assess whether the agreement is suitable for their needs and financial situation.<\/p>

<\/p>

The Government is now reviewing responses to this consultation and considering next steps and intends to publish a consultation response in the spring.<\/p>

<\/p>

HMT does not hold information regarding the number of 18- to 24-year-olds who have been referred to debt collection agencies by Buy-Now Pay-Later in the last 12 months, or the amount collected in late payment fees by the Buy-Now Pay-Later sector in each of the last three years. Instead, HMT draws on the research of various stakeholders including consumer groups and the wider financial services 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" : "2022-01-31", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "110322"} , {"_value" : "110323"} , {"_value" : "110324"} , {"_value" : "110325"} , {"_value" : "110647"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-01-31T16:29:27.87Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-01-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Credit"} , "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 implications for his policies of increases in the number of people using buy now, pay later services as an additional form of short-term credit financing.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/3985", "label" : {"_value" : "Biography information for Robert Halfon"} } , "tablingMemberConstituency" : {"_value" : "Harlow"} , "tablingMemberPrinted" : [{"_value" : "Robert Halfon"} ], "uin" : "110326"} ], "itemsPerPage" : 10, "next" : "http://eldaddp.azurewebsites.net/answeredquestions.text?_page=1&tablingMemberConstituency=Harlow&answeringDeptSortName=Treasury", "page" : 0, "startIndex" : 1, "totalResults" : 57, "type" : ["http://purl.org/linked-data/api/vocab#ListEndpoint", "http://purl.org/linked-data/api/vocab#Page"]} }