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1145753

registered interest
date	25/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Thomas Cook: Insolvency
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions (a) he, (b) his Ministers and (c) his officials have had with the management of the Royal Bank of Scotland on Thomas Cook UK between 14 September 2019 and the collapse of that company.
tabling member constituency	Scunthorpe
tabling member printed	Nic Dakin
uin	290754
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>The government manages its shareholding in RBS at arm’s length on a commercial basis through UK Government Investments Ltd (UKGI). UKGI's role is to manage the investment, not the bank itself. RBS retains its own independent board and management team for strategic and operational decision-making, including in relation to commercial lending, and the government has no role in such decision-making.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/09/2019 12:38:59 answering member 4051 label Biography information for John Glen
tabling member	4056 label Biography information for Nic Dakin

1145767

registered interest
date	25/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal savings: Fees and charges
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of capping (a) all charges, (b) custody charges and (c) transfer charges on (i) SIPPs and (ii) ISAs.
tabling member constituency	Hove
tabling member printed	Peter Kyle
uin	291041
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>Government and regulators have undertaken a range of initiatives in relation to charges on investment products.</p><p> </p><p>The Financial Conduct Authority (FCA) has conducted an extensive market study into the asset management sector, including the examination of costs and charges. They have introduced a range of remedies to address the issues they found. In particular, the FCA have strengthened and clarified the duty on managers of investment funds to act in the best interests of their investors. New rules will require asset managers to assess the value for money of each fund against a non-exhaustive list of prescribed elements, including whether charges are reasonable in relation to the costs incurred in delivering the service, and the quality of the service provided. The managers must conclude that each fund offers good VfM or take corrective action if it does not and explain the assessment annually in a report made available to the public.</p><p>The FCA also identified concerns that charges might not always be visible to investors and that investors might not pay sufficient attention to charges or understand what they represent. In response, the FCA introduced a single all-in fee to increase the visibility of all charges taken from the fund and impose more discipline on overspend relative to charging estimates.</p><p> </p><p>The FCA has also considered the role of charges as part of its work on competition in non-workplace pensions, including self-invested pension plans (SIPPs). They found that charges in this market are often too complex for consumers to be able to compare and that similar customers can pay very different charges. The FCA concluded that it would not be appropriate to recommend direct price intervention such as a cap at this stage, but it is considering next steps in the context of its upcoming work on driving value for money across the pensions sector. The FCA’s Feedback Statement on this topic is seeking views on what remedies would be appropriate and will close in October 2019.</p><p> </p><p>Early exit charges were banned or capped in personal pension schemes, including SIPPs, from March 2017. Information obtained by the FCA and the Pensions Regulator (TPR) showed that early exit charges presented a barrier to accessing the pension freedoms for a significant minority of people in personal and occupational pension schemes. Following consultation, the Government took steps to remove these barriers by capping early exit charges at 1% for existing scheme members and banning them for new members.</p><p> </p><p>The charges imposed in respect of investments held within Stocks and Shares ISAs are a matter for individual ISA managers. ISA managers must allow investors to transfer existing Stocks and Shares ISAs to an alternative manager.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/09/2019 12:36:59 answering member 4051 label Biography information for John Glen
tabling member	4505 label Biography information for Peter Kyle

1145829

registered interest
date	25/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Food and Fuel: Prices
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to Operaton Yellowhammer HMG reasonable worst case planning assumptions chapter 17, what steps his Department is taking to protect low income groups from price rises in food and fuel.
tabling member constituency	Vale of Clwyd
tabling member printed	Chris Ruane
uin	290700
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>HM Treasury routinely monitors economic conditions and risks, and the Government has a range of mechanisms available to support vulnerable people from price rises in food and fuel.</p><p> </p><p>Furthermore, officials estimate the direct impact of spending decisions on household living standards, and this is a central consideration when allocating public funds.</p> answering member constituency Richmond (Yorks) answering member printed Rishi Sunak question first answered 30/09/2019 15:20:06 answering member 4483 label Biography information for Rishi Sunak
tabling member	534 label Biography information for Chris Ruane

1145836

registered interest
date	25/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank of England
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what discussions he has had with the Governor of the Bank of England on when the Governor's term of office ends.
tabling member constituency	West Worcestershire
tabling member printed	Harriett Baldwin
uin	290812
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>It was <a href="https://www.gov.uk/government/news/mark-carneys-term-extended-and-sir-jon-cunliffe-re-appointed-at-the-bank-of-england" target="_blank">announced</a> on 11 September 2018 that the Chancellor and Governor had agreed that the Governor’s term would be extended until 31 January 2020.</p><p> </p><p>The process to appoint the next Governor of the Bank of England was <a href="https://www.gov.uk/government/news/chancellor-launches-search-for-next-governor-of-the-bank-of-england" target="_blank">launched</a> in April. The process is on track. We will make an announcement in due course, ahead of the start of the next Governor’s term on 1 February 2020.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 290814 290902 question first answered 30/09/2019 12:26:44 answering member 4051 label Biography information for John Glen
tabling member	4107 label Biography information for Dame Harriett Baldwin

1145839

registered interest
date	25/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank of England: Public Appointments
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his timescale is for assessing the appointability of the shortlisted candidates for the position of Bank of England Governor that were submitted to his predecessor.
tabling member constituency	West Worcestershire
tabling member printed	Harriett Baldwin
uin	290814
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>It was <a href="https://www.gov.uk/government/news/mark-carneys-term-extended-and-sir-jon-cunliffe-re-appointed-at-the-bank-of-england" target="_blank">announced</a> on 11 September 2018 that the Chancellor and Governor had agreed that the Governor’s term would be extended until 31 January 2020.</p><p> </p><p>The process to appoint the next Governor of the Bank of England was <a href="https://www.gov.uk/government/news/chancellor-launches-search-for-next-governor-of-the-bank-of-england" target="_blank">launched</a> in April. The process is on track. We will make an announcement in due course, ahead of the start of the next Governor’s term on 1 February 2020.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 290812 290902 question first answered 30/09/2019 12:26:44 answering member 4051 label Biography information for John Glen
tabling member	4107 label Biography information for Dame Harriett Baldwin

1146029

registered interest
date	25/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank of England: Public Appointments
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when he plans to announce to Parliament the identity of the individual selected to be the next Governor of the Bank of England.
tabling member constituency	West Worcestershire
tabling member printed	Harriett Baldwin
uin	290902
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>It was <a href="https://www.gov.uk/government/news/mark-carneys-term-extended-and-sir-jon-cunliffe-re-appointed-at-the-bank-of-england" target="_blank">announced</a> on 11 September 2018 that the Chancellor and Governor had agreed that the Governor’s term would be extended until 31 January 2020.</p><p> </p><p>The process to appoint the next Governor of the Bank of England was <a href="https://www.gov.uk/government/news/chancellor-launches-search-for-next-governor-of-the-bank-of-england" target="_blank">launched</a> in April. The process is on track. We will make an announcement in due course, ahead of the start of the next Governor’s term on 1 February 2020.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 290812 290814 question first answered 30/09/2019 12:26:44 answering member 4051 label Biography information for John Glen
tabling member	4107 label Biography information for Dame Harriett Baldwin

1146126

registered interest
date	25/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Gambling: Excise Duties
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the timeframe is for five-year review of remote gaming duty set out in the 2014 HMRC draft note on Remote Gambling Taxation Reform.
tabling member constituency	West Bromwich East
tabling member printed	Tom Watson
uin	290941
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>The benefits, revenue effects and administration of remote gambling taxation are subject to constant evaluation. We currently have no plans to publish any review or evaluation document.</p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke question first answered 30/09/2019 16:00:39 answering member 4655 label Biography information for Sir Simon Clarke
tabling member	1463 label Biography information for Lord Watson of Wyre Forest

1146189

registered interest
date	25/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Port of Dover: Large Goods Vehicles
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate HMRC has made of the number of non-compliant trucks arriving at Dover per day for Calais in the event that the UK leaves the EU without a deal.
tabling member constituency	East Ham
tabling member printed	Stephen Timms
uin	290581
answer	answer is ministerial correction date of answer 30/09/2019 answer text The Government has recently published it’s assessment of the flow of freight across the border in a Reasonable Worst Case Scenario as of 2 August.<p> </p>Since that date, the Government has taken significant steps to improve levels of trader and haulier readiness to improve overall flow across the short Strait crossings. This includes a £100m public information campaign and additional funding for businesses and trade associations to support traders and hauliers to get ready. answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 30/09/2019 15:50:10 answering member 3991 label Biography information for Jesse Norman
tabling member	163 label Biography information for Sir Stephen Timms

1145539

registered interest
date	24/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Banks: Closures
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 proportion of high street bank branches that have closed in the last five years.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	290284
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>The Treasury does not make assessments of the bank branch network. The decision to close a branch is a commercial issue for the management team of the bank. However, Government believes it is important the impact on communities must be understood, considered and mitigated where possible. That is why the Government continues to be very supportive of the Access to Banking Standard and the commitment it places on banks to minimise the impact of branch closures, including by ensuring that customers are aware of the alternative ways they can continue to access banking services. These include the Post Office, which allows 95% of business and 99% of personal banking customers to carry out their everyday banking at 11,500 Post Office branches across the UK.</p><p> </p><p>The Financial Conduct Authority undertook an analysis of branch closures as part of their Strategic Review of Retail Banking Business Models. This analysis can be found in Annex 1 of the final report.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/09/2019 09:33:30 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham

1145544

registered interest
date	24/09/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bank Services: Older People
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to ensure that elderly people have access to a bank branch.
tabling member constituency	Coventry South
tabling member printed	Mr Jim Cunningham
uin	290285
answer	answer is ministerial correction date of answer 30/09/2019 answer text <p>Though I can understand the disappointment felt in a community when a bank branch closes, the decision to maintain a presence on the high street is a commercial one for the management team of a bank and Government does not intervene in those decisions.</p><p> </p><p>The retail financial landscape is changing, as more consumers and businesses opt for the convenience, security, and speed of digital payments and digital banking. Banking service providers need to balance customer interests, market competition, and other commercial factors when considering their strategy.</p><p> </p><p>However, the Government also firmly believes that the impact of branch closures should be understood, considered, and mitigated where possible so that all customers, wherever they live, continue to have access to over-the-counter banking services if they wish to use them. That’s why the Government supports the industry’s Access to Banking Standard which helps customers to understand the options they have locally to continue to access banking services, including specialist assistance for customers who need more help, which may include the elderly. Alternative options include the Post Office, which allows 95% of business and 99% of personal banking customers to carry out their everyday banking at 11,500 Post Office branches across the UK.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/09/2019 09:36:07 answering member 4051 label Biography information for John Glen
tabling member	308 label Biography information for Mr Jim Cunningham