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1011457

registered interest
date	21/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Brexit
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate he has made of the level of financial liabilities that would arise pursuant to the provisions of Article 143 of the draft Withdrawal Agreement with the EU.
tabling member constituency	Clwyd West
tabling member printed	Mr David Jones
uin	194063
answer	answer is ministerial correction date of answer 26/11/2018 answer text <p>Under Article 143 of the draft Withdrawal Agreement, the UK will continue to stand behind a share of the EU’s contingent liabilities related to financial operations up to the date of withdrawal. These contingent liabilities are reported to Parliament in the Consolidated Fund accounts as having a remote probability of crystallising. The UK will also get a share of the associated pre-paid guarantee funds and reflows from the financial operations and, in the event of a contingent liability being triggered, the UK will receive its share of any subsequent amounts recovered by the EU.</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/11/2018 14:49:47 answering member 4051 label Biography information for John Glen
tabling member	1502 label Biography information for Mr David Jones

1011560

registered interest
date	21/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the November 2018 Outline Political Declaration on the Future Relationship, whether EU equivalence decisions on UK financial services will be revocable with 30 days' notice; and if he will make a statement.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	194018
answer	answer is ministerial correction date of answer 26/11/2018 answer text <p>The financial services section of the Political Declaration on the Future Relationship outlines that as part of the close and structured cooperation between the UK and EU on regulatory and supervisory matters that there should be initial decisions on equivalence by June 2020 and clear processes around the suspension and withdrawal of equivalence decisions in future. As of today, there are 43 equivalence provisions in EU legislation across a range of financial services sectors, of which only three<sup><sup>[1]</sup></sup> state that jurisdictional equivalence can be withdrawn with 30 days’ notice. The agreement reached with the EU will establish new processes to give further confidence to firms and consumers that the equivalence relationship between the EU and UK will be a durable one.</p><p> </p><p><sup><sup>[1]</sup></sup> MiFIR Article 33, STFR Article 21 and EMIR Article 13</p> answering member constituency Salisbury answering member printed John Glen question first answered 26/11/2018 14:53:05 answering member 4051 label Biography information for John Glen
tabling member	163 label Biography information for Sir Stephen Timms

1011596

registered interest
date	21/11/2018
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Brexit
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 8 November 2018 to Question 185719 on Brexit and with reference to paragraph 4.111 of the OBR’s Economic and Fiscal Outlook published in October 2018, how much of the current £0.4 billion underspend estimate is within the Brexit funding pot.
tabling member constituency	Greenwich and Woolwich
tabling member printed	Matthew Pennycook
uin	194204
answer	answer is ministerial correction date of answer 26/11/2018 answer text <p>On 13 March 2018, the Treasury confirmed allocations of c.£1.6bn to departments. A full breakdown of the allocation can be found in the Chief Secretary’s Written Ministerial Statement, HCWS540, which can be found at <a href="https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-03-13/HCWS540/" target="_blank">https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-03-13/HCWS540/</a>.</p><p>The Economic and Fiscal Outlook is produced by the independent Office for Budget Responsibility. As part of their fiscal forecast they take a judgement on how much departments will underspend on aggregate DEL spending. This information is available at <a href="https://cdn.obr.uk/EFO_October-2018.pdf" target="_blank">https://cdn.obr.uk/EFO_October-2018.pdf</a>.</p> answering member constituency South West Norfolk answering member printed Elizabeth Truss question first answered 26/11/2018 17:27:10 answering member 4097 label Biography information for Elizabeth Truss
tabling member	4520 label Biography information for Matthew Pennycook