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1237341
unstar this property type
WrittenParliamentaryQuestion
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-09-24more like thismore than 2020-09-24
star this property answer text <p>This Government is committed to building back better and investing in the green infrastructure that will help us to achieve our climate change objectives and level up the country. At the Plan for Jobs 2020, the Government announced an ambitious £3.05 billion package including the Green Homes Grant, designed to aid homeowners and landlords retrofit to upgrade the energy and cost efficiency of their homes. At Spring Budget 2020 the Government announced at least £800 million to support Carbon Capture and Storage (CCS) in two initial industrial clusters, the first by the mid-2020s and the second by 2030. CCS has the potential to reduce carbon emissions from power plants and factories. And on Tuesday (22 September), Dogger Bank Wind Farm announced the creation of almost 250 jobs in the North East on a project that will be capable of powering up to 4.5m homes when complete.</p><p> </p><p>Our upcoming National Infrastructure Strategy will set out our long-term economic infrastructure ambitions, focusing on decarbonisation and levelling up the nation.</p><p> </p><p>The UK is a global centre for sustainable finance with an established reputation in green finance and a frontrunner in the structuring, underwriting, and listing of green bonds, with more than 100 bonds listed on the London Stock Exchange, raising over $26 billion across eight currencies</p><p> </p><p>The government has been carefully considering the potential issuance of a UK sovereign green bond and will keep this under review. The government remains open to the introduction of new debt instruments, but would need to be satisfied that any new instrument would meet value-for-money criteria, enjoy strong and sustained demand in the long term and be consistent with wider fiscal objectives.</p>
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property grouped question UIN 91742 more like this
star this property question first answered
less than 2020-09-24T09:16:48.077Zmore like thismore than 2020-09-24T09:16:48.077Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
1168280
star this property registered interest false more like this
star this property date less than 2019-12-19more like thismore than 2019-12-19
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Mortgages more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will review the lending requirements for mortgages to ensure the affordability of rents and repayments in relation to the current salary multiplier requirement. more like this
star this property tabling member constituency Hendon more like this
star this property tabling member printed
Dr Matthew Offord more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 84 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-13more like thismore than 2020-01-13
star this property answer text <p>The Financial Conduct Authority’s (FCA) ‘Mortgage Market Review’ regulations are based on the principle that mortgages should only be advanced where there is a reasonable expectation that borrowers can repay. To provide new mortgage loans, all lenders must conduct an affordability assessment which includes a robust income and expenditure analysis, and the lender must obtain evidence of that income to support this assessment. Lenders must also comply with rules set by the Financial Policy Committee (FPC) at the Bank of England, intended to manage financial stability risks from the housing market, including a limit of 15% of new lending above 4.5 Loan-to-Income (LTI), and a stress test for loans at 3% above the Standard Variable Rate.</p><p> </p><p>Both the FCA and the Bank of England keep their mortgage market regulations under review to ensure that they meet their objectives. In May 2016 the FCA conducted a review of the MMR, finding that the regulations had been implemented as desired protecting consumers without unduly restricting the availability of credit. The FCA’s Mortgages Market Study of March 2019 also found that the market is working well for consumers. The FPC most recently reviewed their housing tools in December 2019 in their Financial Stability Report, including the 4.5 LTI cap, finding that they have had a positive impact in upholding strong underwriting standards to prevent an increase in the number of highly indebted households, whilst having only a limited impact on mortgage availability.</p>
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-13T14:25:40.533Zmore like thismore than 2020-01-13T14:25:40.533Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4006
star this property label Biography information for Dr Matthew Offord more like this
1168342
star this property registered interest false more like this
star this property date less than 2019-12-19more like thismore than 2019-12-19
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Equitable Life Assurance Society more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps his Department is taking to support people affected by the closure of Equitable Life. more like this
star this property tabling member constituency Portsmouth South more like this
star this property tabling member printed
Mr Stephen Morgan more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 203 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-13more like thismore than 2020-01-13
star this property answer text <p>After nearly 5 years of operation which saw over £1 billion paid to nearly 1 million affected policyholders, the Equitable Life Payment Scheme closed to claims in 2015. Further guidance on the status of the Payment Scheme after closure is available at <a href="https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme" target="_blank">https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme</a>. There are no plans to reopen the Payment Scheme or review the funding allocation made to it.</p> more like this
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-13T15:01:38.817Zmore like thismore than 2020-01-13T15:01:38.817Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4653
star this property label Biography information for Stephen Morgan more like this
1168343
star this property registered interest false more like this
star this property date less than 2019-12-19more like thismore than 2019-12-19
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Pension Funds: Closures more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what steps the Government has taken to prevent the closure of pension companies since the closure of Equitable Life. more like this
star this property tabling member constituency Portsmouth South more like this
star this property tabling member printed
Mr Stephen Morgan more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 204 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-13more like thismore than 2020-01-13
star this property answer text <p>The Government implemented a new solvency regime, set out in the Solvency II Directive, which came into force on 1 January 2016. This risk-based regulatory system, under which UK insurance companies are regulated, was developed by the European Commission over approximately 15 years with input from the UK Government, regulators and industry.</p><p> </p><p>The Prudential Regulation Authority, the regulatory arm of the Bank of England, supervises UK insurance firms and groups under Solvency II. It has statutory objectives to promote the safety and soundness of the firms it regulates and contribute to securing an appropriate degree of protection for policyholders under the Financial Services and Markets Act 2000 (sections 2b and 2c).</p> more like this
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-13T14:59:05.443Zmore like thismore than 2020-01-13T14:59:05.443Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4653
star this property label Biography information for Stephen Morgan more like this
1168883
star this property registered interest false more like this
star this property date less than 2020-01-06more like thismore than 2020-01-06
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Money Laundering more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, what his policy is on preventing banks in the UK being used as depositories in the laundering of state funds from other nations. more like this
star this property tabling member constituency Edinburgh North and Leith more like this
star this property tabling member printed
Deidre Brock more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 408 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-14more like thismore than 2020-01-14
star this property answer text <p><strong>H</strong>M Treasury is responsible for the Money Laundering Regulations 2017 (‘the Regulations’). The Regulations set out the high-level requirements on regulated firms to combat money laundering and ensure that key professionals identify their customers and understand the purpose behind transactions, including the source of funds. The Regulations are designed to combat illicit finance, while minimising the burden on legitimate customers.</p><p> </p><p>The Regulations require firms in scope of the regulations to have in place appropriate risk-management systems and procedures to determine whether a customer (or their beneficial owner) is a Politically Exposed Person (PEP), family member of a PEP or close associate of a PEP.</p><p> </p><p>PEPs are individuals entrusted with a prominent public function. This definition includes but is not limited to heads of state, heads of government, ministers and deputy or assistant ministers, members of parliament or of similar legislative bodies.</p><p> </p><p>PEPs can pose a high money laundering risk because they may be able to abuse their position for private gain. Not all PEPs, however, pose the same money laundering risk; there is a hierarchy depending on country of origin and rank, from middle tier officials to individuals with significant or absolute control over the levers, patronage and resources in a given area. For example, the Financial Conduct Authority’s guidance states that UK PEPs should be considered as lower risk.</p><p> </p><p>Where a firm has identified that a customer (or their beneficial owner) is a PEP, family member or close associate of a PEP, it must conduct an appropriate range of Enhanced Due Diligence (EDD) measures. When carrying out EDD on PEPs, firms must take adequate measures to establish the source of wealth and source of funds which are involved in the proposed transaction or business relationship, get approval from senior management to establish or continue a relationship with that person and carry out enhanced monitoring of the business relationship.</p>
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-14T12:37:18.733Zmore like thismore than 2020-01-14T12:37:18.733Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4417
star this property label Biography information for Deidre Brock more like this
1168961
star this property registered interest false more like this
star this property date less than 2020-01-06more like thismore than 2020-01-06
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Mayflower: Anniversaries more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will change the status of the Mayflower 400 commemorative coin from collectors-only to general circulation. more like this
star this property tabling member constituency Plymouth, Sutton and Devonport more like this
star this property tabling member printed
Luke Pollard more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 467 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-14more like thismore than 2020-01-14
star this property answer text <p>The Royal Mint has a long-established tradition of producing coins in order to mark historic moments. The 400<sup>th</sup> anniversary of the Mayflower’s voyage is an important moment in our shared history with the United States and will rightly be celebrated with the production of a commemorative coin. The number and denomination of coins issued into circulation is dependent on demand from UK banks and Post Offices.</p> more like this
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-14T12:41:17.997Zmore like thismore than 2020-01-14T12:41:17.997Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4682
star this property label Biography information for Luke Pollard more like this
1169004
star this property registered interest false more like this
star this property date less than 2020-01-07more like thismore than 2020-01-07
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Revenue and Customs: Cumbernauld more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text What discussions he has had with (a) HMRC and (b) the Secretary of State for Scotland on proposals to close HMRC's Cumbernauld office. more like this
star this property tabling member constituency Cumbernauld, Kilsyth and Kirkintilloch East more like this
star this property tabling member printed
Stuart C McDonald more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 900053 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-07more like thismore than 2020-01-07
star this property answer text <p>HMRC announced its Locations Programme in 2015, which included the establishment of the Glasgow Regional Centre and closure of the Cumbernauld office. Ministers are kept up to date on HMRC’s progress in delivering the Locations Programme.</p><p> </p><p>The former Secretary of State for Scotland (Rt Hon David Mundell MP) met with HMRC representatives to discuss the closure of the Cumbernauld office and the relocation of staff to the Glasgow Regional Centre.</p> more like this
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-07T16:11:02.85Zmore like thismore than 2020-01-07T16:11:02.85Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4393
star this property label Biography information for Stuart C McDonald more like this
1169153
star this property registered interest false more like this
star this property date less than 2020-01-07more like thismore than 2020-01-07
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Mortgages: EU Law more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will review the mortgage rules related to the EU Mortgage Credit Directive once the UK leaves the EU. more like this
star this property tabling member constituency Morley and Outwood more like this
star this property tabling member printed
Mrs Andrea Jenkyns more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 1063 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-14more like thismore than 2020-01-14
star this property answer text <p>After the UK leaves the EU – which the Government is determined to do - we will have control over the rules that we set for our financial services sector. The UK is committed to uphold global, open markets underpinned by the highest standards of regulation and appropriate levels of supervisory oversight.</p><p> </p><p>Common rules will remain in place until the end of the Implementation Period on 31 December 2020. Any EU measures which become operative during that implementation period would therefore also apply in the UK.</p><p> </p><p>The Mortgage Credit Directive (MCD) was introduced by the European Commission following the financial crisis to improve standards for mortgage lending across the EU. The final text of the MCD was published in February 2014, with a requirement for Member States to transpose it into national law by 21 March 2016.</p><p> </p><p>The MCD aims to ensure a high level of consumer protection for mortgage applicants. The majority of its rules already aligned with the existing UK regulatory system for mortgages. For the most part, the Government therefore implemented the requirements through alteration to the Financial Conduct Authority’s (FCA) rules. The FCA monitors the impact of its rules on the market closely. For example, their Mortgages Market Study of March 2019 found that broadly the mortgage market is working well for consumers.</p>
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-14T12:44:46.913Zmore like thismore than 2020-01-14T12:44:46.913Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4490
star this property label Biography information for Dame Andrea Jenkyns more like this
1169165
star this property registered interest false more like this
star this property date less than 2020-01-07more like thismore than 2020-01-07
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading UK Relations with EU more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, whether regional impact assessments will be published for (a) the European Union (Withdrawal Agreement) Bill, (b) the Political Declaration and (c) the UK’s mandate for the next phase of negotiations on the UK's future relationship with the EU. more like this
star this property tabling member constituency Wigan more like this
star this property tabling member printed
Lisa Nandy more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 992 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-14more like thismore than 2020-01-14
star this property answer text <p>The election result has shown that the British people want to get Brexit done, and they have given the government a strong and clear mandate to that end.</p><p>The government published an Impact Assessment in support of the WAB in October. It is a standard assessment of the direct costs and benefits to businesses of the elements of the Bill and remains valid for the current WAB.</p><p>The specifics of our future relationship with the EU 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 Chancellor has stated that the upcoming Budget will set out ambitious plans to unleash Britain’s potential, level up across the UK and usher in a decade of renewal.</p> more like this
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-14T12:44:16.24Zmore like thismore than 2020-01-14T12:44:16.24Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
4082
star this property label Biography information for Lisa Nandy more like this
1169215
star this property registered interest false more like this
star this property date less than 2020-01-07more like thismore than 2020-01-07
star this property answering body
Treasury more like this
star this property answering dept id 14 more like this
star this property answering dept short name Treasury more like this
star this property answering dept sort name Treasury more like this
star this property hansard heading Divorce: Civil Proceedings more like this
star this property house id 1 more like this
star this property legislature
25259
star this property pref label House of Commons more like this
star this property question text To ask the Chancellor of the Exchequer, if he will review the transparency, clarity and regulation of litigation loans for divorces to ensure that customers are fully aware of the implications of those loans before taking them out. more like this
star this property tabling member constituency Bolton South East more like this
star this property tabling member printed
Yasmin Qureshi more like this
unstar this property type
WrittenParliamentaryQuestion
star this property uin 970 more like this
star this property answer
answer
star this property is ministerial correction false more like this
star this property date of answer less than 2020-01-14more like thismore than 2020-01-14
star this property answer text <p>On 1 April 2014, the Government fundamentally reformed regulation of the consumer credit market, transferring regulatory responsibility to the Financial Conduct Authority (FCA).</p><p> </p><p>Like other types of credit, litigation funding in the form of credit is regulated by the FCA and therefore its Consumer Credit Sourcebook applies to these products.</p><p> </p><p>The FCA is looking at whether consumer harm needs to be mitigated in this sector and continues to monitor new firms providing credit to fund legal fees.</p> more like this
star this property answering member constituency Salisbury remove filter
star this property answering member printed John Glen more like this
star this property question first answered
less than 2020-01-14T12:46:20.38Zmore like thismore than 2020-01-14T12:46:20.38Z
star this property answering member
4051
star this property label Biography information for John Glen more like this
star this property tabling member
3924
star this property label Biography information for Yasmin Qureshi more like this