This Government recognises the value of co-operatives and other mutually owned businesses. The Government\u2019s policy is to maintain a level playing field between co-operatives and other legal forms.<\/p>
<\/p>
In 2014, the coalition government introduced a number of measures to support the co-operative sector, including consolidating all the existing laws, to make it easier for societies to understand and apply the legislative framework and the rules governing them. The coalition government also simplified the electronic registration process to help new societies start up.<\/p>
<\/p>
In February 2018 the Government brought forward a measure to bring audit requirements for small co-operatives into line with those for small companies. This measure came into force on 6 April, and will save growing societies thousands of pounds in auditors\u2019 fees that companies of the same size do not have to pay.<\/p>
<\/strong><\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1091", "label" : {"_value" : "Biography information for Lord Bates"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Bates"}
, "dateOfAnswer" : {"_value" : "2018-09-19", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2018-09-19T11:24:25.77Z", "_datatype" : "dateTime"}
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, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-09-13", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Cooperatives"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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], "questionText" : "To ask Her Majesty's Government what steps they are taking to increase the number of co-operative companies and institutes in the UK.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4153", "label" : {"_value" : "Biography information for Lord Kennedy of Southwark"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Kennedy of Southwark"}
], "uin" : "HL10361"}
, {"_about" : "http://data.parliament.uk/resources/994717", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/994717/answer", "answerText" : {"_value" : " Financial entities that wish to operate as universal banks are subject to the 2012 Financial Services (Banking Reform) Act. The Act requires large UK banks with retail deposits totaling more than £25 billion to ring-fence the deposits of individuals and small businesses from other activities within their groups, such as investment and international banking. By insulating these core banking services in a separate legal entity, ring-fencing will support continuity of provision of vital services to the economy if there are shocks originating elsewhere in the group and the global financial system. It will also make banks that provide these essential services simpler and more resolvable and therefore prevent the costs of failing banks falling on taxpayers. This restructuring was successfully completed by all UK banks within scope in the summer of 2018 and the regime will come into force in January 2019.<\/p> <\/p> Ring-fencing has been part of the Government\u2019s package of banking reforms since 2010, designed to deliver a stable, sustainable and competitive banking system so banks will be better placed to meet their core purpose of lending to the real economy and contributing to economic growth. As part of this strategy, competition and innovation is at the heart of the Government\u2019s vision for UK financial services to deliver greater choice and value for all.<\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1091", "label" : {"_value" : "Biography information for Lord Bates"}
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, "answeringMemberPrinted" : {"_value" : "Lord Bates"}
, "dateOfAnswer" : {"_value" : "2018-11-08", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2018-11-08T14:10:18.837Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-10-25", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Bank Services"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty's Government what assessment they have made of the future of universal banking in the UK.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4153", "label" : {"_value" : "Biography information for Lord Kennedy of Southwark"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Kennedy of Southwark"}
], "uin" : "HL11033"}
, {"_about" : "http://data.parliament.uk/resources/994718", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/994718/answer", "answerText" : {"_value" : " Whilst meeting rental payments is not sufficient in itself to demonstrate affordability over the lifetime of a loan, the Government believes it is right that a history of paying rent should be recognised in tenants\u2019 credit scores and in affordability assessments.<\/p> <\/p> That\u2019s why, at Autumn Budget 2017, the Government announced the Rent Recognition Challenge: a £2m competition seeking FinTech solutions to enable tenants to record and share their rental data. The Challenge uses the ingenuity of the technology sector to deliver solutions that work for both consumers and businesses.<\/p> <\/p> One of the leading credit reference agencies Experian has recently announced that rental payments will now be reflected in their credit score reports, and is working with winners of the Challenge.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1091", "label" : {"_value" : "Biography information for Lord Bates"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Bates"}
, "dateOfAnswer" : {"_value" : "2018-11-08", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2018-11-08T14:10:49.78Z", "_datatype" : "dateTime"}
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, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-10-25", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Mortgages"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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], "questionText" : "To ask Her Majesty's Government what assessment they have made of the case for tenant rent payments to be taken into account by mortgage lenders.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4153", "label" : {"_value" : "Biography information for Lord Kennedy of Southwark"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Kennedy of Southwark"}
], "uin" : "HL11034"}
, {"_about" : "http://data.parliament.uk/resources/994721", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/994721/answer", "answerText" : {"_value" : " Government recognises the crucial role challenger banks play in increasing competition in the retail banking sector by providing customers with more choice on the high street. Current Account Switch Service (CASS) statistics show that some challenger banks have featured amongst the firms with the highest net gains, which indicates the positive impact that they are having on customer choice. Government will continue to encourage an environment that allows challenger banks to thrive.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1091", "label" : {"_value" : "Biography information for Lord Bates"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Bates"}
, "dateOfAnswer" : {"_value" : "2018-11-08", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2018-11-08T15:04:18.507Z", "_datatype" : "dateTime"}
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, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-10-25", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Banks: Competition"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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], "questionText" : "To ask Her Majesty's Government what assessment they have made of the impact of challenger banks on the retail banking sector in the UK.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4153", "label" : {"_value" : "Biography information for Lord Kennedy of Southwark"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Kennedy of Southwark"}
], "uin" : "HL11037"}
, {"_about" : "http://data.parliament.uk/resources/994722", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/994722/answer", "answerText" : {"_value" : " Private equity and venture capital have provided over £27 billion of investment into more than 3,900 UK companies in the past five years. Between 2008 and 2014 private equity and venture capital generated on average 14.9% annual returns for pension funds and other investors (source: British Venture Capital & Private Equity Association).<\/p> <\/p> The consultation \u2018Financing growth in innovative firms\u2019 published in August 2017 recognised that the UK\u2019s private equity industry is very developed, with the UK host to a quarter of the top 20 private equity investors in the world, and the government\u2019s response set out a plan to strengthen the UK\u2019s position as a global leader in the market for growth capital for innovative businesses. Further measures were set out at Budget 2018.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1091", "label" : {"_value" : "Biography information for Lord Bates"}
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, "answeringMemberPrinted" : {"_value" : "Lord Bates"}
, "dateOfAnswer" : {"_value" : "2018-11-08", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2018-11-08T14:09:22.51Z", "_datatype" : "dateTime"}
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, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-10-25", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Private Equity"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
}
], "questionText" : "To ask Her Majesty's Government what assessment, if any, they have made of private equity as an investment vehicle.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4153", "label" : {"_value" : "Biography information for Lord Kennedy of Southwark"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Kennedy of Southwark"}
], "uin" : "HL11038"}
, {"_about" : "http://data.parliament.uk/resources/1025360", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1025360/answer", "answerText" : {"_value" : " The government keeps all taxes under review.<\/p> <\/p> The government completed a fundamental review of business rates in 2016. Respondents were in favour of retaining a property based tax, and agreed that business rates are easy to collect, difficult to avoid, stable, and clearly linked to local government spending.<\/p> <\/p> Alternative taxes were proposed, but there was no consensus on these options and respondents were clear that they each presented their own significant challenges. At Budget 2018 the government announced Our Plan for the High Street, which includes a new retail discount cutting eligible retailers\u2019 business rates bills by a third for two years from April 2019.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/1091", "label" : {"_value" : "Biography information for Lord Bates"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Bates"}
, "dateOfAnswer" : {"_value" : "2018-12-20", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2018-12-20T14:37:52.51Z", "_datatype" : "dateTime"}
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, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2018-12-14", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Non-domestic Rates"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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], "questionText" : "To ask Her Majesty's Government, whether they are considering an alternative to business rates.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4153", "label" : {"_value" : "Biography information for Lord Kennedy of Southwark"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Kennedy of Southwark"}
], "uin" : "HL12326"}
, {"_about" : "http://data.parliament.uk/resources/1121594", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1121594/answer", "answerText" : {"_value" : " The Treasury does not make assessments on the charges levied on customers by UK banks because in most circumstances fees and charges are commercial decisions for the bank.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"}
, "dateOfAnswer" : {"_value" : "2019-04-25", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2019-04-25T10:54:33.683Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2019-04-11", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Bank Services: Fees and Charges"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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], "questionText" : "To ask Her Majesty's Government what assessment they have made of the charges levied on customers by UK banks.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4153", "label" : {"_value" : "Biography information for Lord Kennedy of Southwark"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Kennedy of Southwark"}
], "uin" : "HL15245"}
, {"_about" : "http://data.parliament.uk/resources/1123292", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1123292/answer", "answerText" : {"_value" : " The Government takes financial inclusion very seriously and is working to ensure everyone can have access to useful and affordable financial services, including a bank account.<\/p> <\/p> The Treasury does not make assessments of the number of people who do not have a bank account or the additional costs that may be incurred. However, in 2017, the Financial Conduct Authority published the results of the Financial Lives Survey which found that 1.3 million UK adults were unbanked, i.e. have no current account or alternative e-money account.<\/p> <\/p> The Financial Lives Survey report contains further information on the characteristics of the unbanked. The report analyses survey results across the four nations of the UK, the nine regions of England, and by rural and urban areas. The FCA intend to repeat the Financial Lives Survey on a regular basis in future.<\/p> <\/p> <\/p> However, the nine largest personal current account providers in the UK are legally required to offer fee-free basic bank accounts to customers who do not have a bank account or who are ineligible for a bank\u2019s standard current account. Accounts have all the standard payment features such as Direct Debits and Standing Orders, though no overdraft or cheque book facilities. The Treasury\u2019s December 2018 publication shows that in total there are nearly 7.5 million basic bank accounts open in the UK.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/57", "label" : {"_value" : "Biography information for Lord Young of Cookham"}
}
, "answeringMemberPrinted" : {"_value" : "Lord Young of Cookham"}
, "dateOfAnswer" : {"_value" : "2019-05-09", "_datatype" : "dateTime"}
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, "questionFirstAnswered" : [{"_value" : "2019-05-09T10:37:58.007Z", "_datatype" : "dateTime"}
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, "date" : {"_value" : "2019-04-25", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Bank Services"}
, "houseId" : {"_value" : "2"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"}
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], "questionText" : "To ask Her Majesty's Government what assessment they have made of the number of people who have no form of bank account in the UK and the additional costs such people incur to access certain goods and services.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4153", "label" : {"_value" : "Biography information for Lord Kennedy of Southwark"}
}
, "tablingMemberPrinted" : [{"_value" : "Lord Kennedy of Southwark"}
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