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1465258

registered interest
date	24/05/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Energy: Housing
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what further steps he is taking to improve the energy efficiency of domestic buildings.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8235
answer	answer is ministerial correction date of answer 01/06/2022 answer text <p>The UK has made good progress in improving energy performance of homes.  46% of homes in England are now EPC Band C or above, up from 12% in 2009.</p><p> </p><p>Furthermore, Government is investing over £6.6 billion over this parliament to continue improving energy efficiency. This funding will help to deliver upgrades through the Social Housing Decarbonisation Fund, Energy Company Obligation, Local Authority Delivery and Home Upgrade Grant Schemes. The new £450 million Boiler Upgrade Scheme will provide upfront grants towards the cost of a heat pump or biomass boiler.</p><p> </p><p>The Government is also Zero-rating VAT for the next five years on the installation of insulation and low-carbon heating.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 01/06/2022 11:14:09 answering member 1526 label Biography information for Greg Hands
tabling member	4866 label Biography information for Alexander Stafford

1465259

registered interest
date	24/05/2022
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Ofgem: Carbon Emissions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, if he will take steps to reform Ofgem’s statutory duty to include oversight of meeting net-zero commitments.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8236
answer	answer is ministerial correction date of answer 01/06/2022 answer text <p>It is the Government’s plan to publish the Strategy and Policy Statement (SPS) later this year. The SPS will detail the Government’s strategic priorities and policy outcomes for energy policy, including delivering a net zero energy system while ensuring secure supplies at the lowest cost for consumers. The SPS will impose a legal obligation on Ofgem to have regard to those strategic priorities and policy outcomes when exercising its regulatory functions. Ofgem will be required to report at the outset and annually on its progress and plans for implementation.</p> answering member constituency Chelsea and Fulham answering member printed Greg Hands question first answered 01/06/2022 11:12:47 answering member 1526 label Biography information for Greg Hands
tabling member	4866 label Biography information for Alexander Stafford

1465263

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential economic merits of a UK central bank digital currency.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8237
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>The government and the Bank of England have not yet made a decision on the issuance of a Central Bank Digital Currency (CBDC) in the UK.</p><p> </p><p>The government is progressing work to explore a UK CBDC with pace and purpose through the HM Treasury and Bank of England CBDC Taskforce. As part of the process of research and exploration, HM Treasury and the Bank of England will publish a consultation in 2022 setting out their assessment of the case for a UK CBDC, including the merits of further work to develop an operational and technology model for a UK CBDC.</p><p> </p><p>We are actively engaging on CBDC internationally including through the G7 Digital Payments Experts Group (DPEG) and under the UK’s Presidency of the G7, the UK and G7 members agreed to a set of Public Policy Principles that finance ministries and central banks will have to consider prior to the issuance of any CBDC.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8238 8240 8241 8242 8245 question first answered 31/05/2022 09:34:26 answering member 4051 label Biography information for John Glen
tabling member	4866 label Biography information for Alexander Stafford

1465264

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has taken recent steps to implement a UK central bank digital currency.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8238
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>The government and the Bank of England have not yet made a decision on the issuance of a Central Bank Digital Currency (CBDC) in the UK.</p><p> </p><p>The government is progressing work to explore a UK CBDC with pace and purpose through the HM Treasury and Bank of England CBDC Taskforce. As part of the process of research and exploration, HM Treasury and the Bank of England will publish a consultation in 2022 setting out their assessment of the case for a UK CBDC, including the merits of further work to develop an operational and technology model for a UK CBDC.</p><p> </p><p>We are actively engaging on CBDC internationally including through the G7 Digital Payments Experts Group (DPEG) and under the UK’s Presidency of the G7, the UK and G7 members agreed to a set of Public Policy Principles that finance ministries and central banks will have to consider prior to the issuance of any CBDC.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8237 8240 8241 8242 8245 question first answered 31/05/2022 09:34:26 answering member 4051 label Biography information for John Glen
tabling member	4866 label Biography information for Alexander Stafford

1465265

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of whether (a) regulations and (b) primary legislation would be required to create a UK central bank digital currency.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8239
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>The UK is actively exploring the potential role of central bank digital currencies (CBDCs) to understand the wide-ranging opportunities and challenges they could bring.</p><p> </p><p>On 9 November 2021, the government set out its future timelines for this work, including a joint consultation from HM Treasury and the Bank of England in 2022 setting out their assessment of the case for a UK CBDC.</p><p> </p><p>The government and the Bank of England have not yet made a decision on whether to introduce a CBDC in the UK.</p><p> </p><p>Primary legislation may be needed to issue a CBDC in the UK. The nature of any legislative changes will depend on the design of any CBDC.</p> answering member constituency Salisbury answering member printed John Glen question first answered 31/05/2022 09:31:07 answering member 4051 label Biography information for John Glen
tabling member	4866 label Biography information for Alexander Stafford

1465266

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the implications for his Department's policies of international work to create central bank digital currencies.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8240
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>The government and the Bank of England have not yet made a decision on the issuance of a Central Bank Digital Currency (CBDC) in the UK.</p><p> </p><p>The government is progressing work to explore a UK CBDC with pace and purpose through the HM Treasury and Bank of England CBDC Taskforce. As part of the process of research and exploration, HM Treasury and the Bank of England will publish a consultation in 2022 setting out their assessment of the case for a UK CBDC, including the merits of further work to develop an operational and technology model for a UK CBDC.</p><p> </p><p>We are actively engaging on CBDC internationally including through the G7 Digital Payments Experts Group (DPEG) and under the UK’s Presidency of the G7, the UK and G7 members agreed to a set of Public Policy Principles that finance ministries and central banks will have to consider prior to the issuance of any CBDC.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8237 8238 8241 8242 8245 question first answered 31/05/2022 09:34:26 answering member 4051 label Biography information for John Glen
tabling member	4866 label Biography information for Alexander Stafford

1465267

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of creating a UK central bank digital currency.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8241
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>The government and the Bank of England have not yet made a decision on the issuance of a Central Bank Digital Currency (CBDC) in the UK.</p><p> </p><p>The government is progressing work to explore a UK CBDC with pace and purpose through the HM Treasury and Bank of England CBDC Taskforce. As part of the process of research and exploration, HM Treasury and the Bank of England will publish a consultation in 2022 setting out their assessment of the case for a UK CBDC, including the merits of further work to develop an operational and technology model for a UK CBDC.</p><p> </p><p>We are actively engaging on CBDC internationally including through the G7 Digital Payments Experts Group (DPEG) and under the UK’s Presidency of the G7, the UK and G7 members agreed to a set of Public Policy Principles that finance ministries and central banks will have to consider prior to the issuance of any CBDC.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8237 8238 8240 8242 8245 question first answered 31/05/2022 09:34:26 answering member 4051 label Biography information for John Glen
tabling member	4866 label Biography information for Alexander Stafford

1465268

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Central Bank Digital Currencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his timescale is for launching the consultation on a UK central bank digital currency.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8242
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>The government and the Bank of England have not yet made a decision on the issuance of a Central Bank Digital Currency (CBDC) in the UK.</p><p> </p><p>The government is progressing work to explore a UK CBDC with pace and purpose through the HM Treasury and Bank of England CBDC Taskforce. As part of the process of research and exploration, HM Treasury and the Bank of England will publish a consultation in 2022 setting out their assessment of the case for a UK CBDC, including the merits of further work to develop an operational and technology model for a UK CBDC.</p><p> </p><p>We are actively engaging on CBDC internationally including through the G7 Digital Payments Experts Group (DPEG) and under the UK’s Presidency of the G7, the UK and G7 members agreed to a set of Public Policy Principles that finance ministries and central banks will have to consider prior to the issuance of any CBDC.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 8237 8238 8240 8241 8245 question first answered 31/05/2022 09:34:26 answering member 4051 label Biography information for John Glen
tabling member	4866 label Biography information for Alexander Stafford

1465275

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Currencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential effect on monetary sovereignty of the widespread use of (a) privately-issued and (b) foreign state-issued stablecoins.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8243
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>Certain privately-issued stablecoins could be used as widespread means of payment, including by retail customers, driving consumer choice and efficiencies. At the same time, as noted by the G7 Working Group on Stablecoins in 2019, without appropriate safeguards, stablecoins could also have implications for the international monetary system, including currency substitution, and could therefore pose challenges to monetary sovereignty. The government is committed to continued international coordination and cooperation to ensure that innovation in private digital money and payments is responsible, safe and consistent with G7 shared policy objectives.</p><p> </p><p>In the UK, legislation to bring stablecoins, where used as a means of payment, within the regulatory perimeter is expected to be part of the forthcoming Financial Services and Markets Bill announced in the Queen’s Speech on 10 May. The Bill will be introduced later in the session when parliamentary time allows.</p><p> </p><p>On 14 October 2021, the G7 under the UK Presidency published a set of Public Policy Principles for retail central bank digital currencies (CBDCs), covering factors such as financial stability, privacy, and inclusion. Principle 7 sets out that CBDCs should be designed to avoid risks of harm to the international monetary and financial system, including the monetary sovereignty and financial stability of other countries. These factors should all be considered by countries when designing and potentially delivering a CBDC.</p><p> </p><p>The government is confident in its continued ability to maintain the stability and the integrity of the UK’s monetary system.</p> answering member constituency Salisbury answering member printed John Glen question first answered 31/05/2022 09:36:32 answering member 4051 label Biography information for John Glen
tabling member	4866 label Biography information for Alexander Stafford

1465276

registered interest
date	24/05/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Currencies
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make a comparative assessment of the potential (a) merits and (b) disadvantages to the economy of (i) central bank digital currencies and (ii) stablecoins.
tabling member constituency	Rother Valley
tabling member printed	Alexander Stafford
uin	8244
answer	answer is ministerial correction date of answer 31/05/2022 answer text <p>The UK is actively exploring the potential role of central bank digital currencies (CBDCs) to understand the wide-ranging opportunities and challenges they could bring.</p><p> </p><p>On 9 November 2021, the government set out its future timelines for this work, including a joint consultation from HM Treasury and the Bank of England in 2022, setting out an assessment of the case for a UK CBDC.</p><p> </p><p>On April 4 the government published its response to its consultation on the UK’s regulatory approach to stablecoins. It also included a call for evidence on the use of Distributed Ledger Technology (DLT) in financial markets.</p><p> </p><p>The response set out the government’s position that certain stablecoins have the capacity to potentially become a widespread means</p><p>of payment including by retail customers, driving consumer choice and efficiencies. By regulating stablecoins appropriately the government will create the conditions for stablecoin issuers and service providers to operate and grow in the UK. For consumers, bringing stablecoins into the regulatory framework means they will be able to use stablecoin services with confidence.</p><p> </p><p>The legislation to bring stablecoins, where used as a means of payment, within the regulatory perimeter is expected to be part of the forthcoming Financial Services and Markets Bill announced in the Queen’s Speech on 10 May. The Bill will be introduced later in the session when parliamentary time allows.</p> answering member constituency Salisbury answering member printed John Glen question first answered 31/05/2022 09:39:26 answering member 4051 label Biography information for John Glen
tabling member	4866 label Biography information for Alexander Stafford