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  • Alison Thewliss – 2016 Parliamentary Question to the HM Treasury

    Alison Thewliss – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Alison Thewliss on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, if he will bring forward proposals to ban the promotion of high-risk credit products through unsolicited direct marketing mail and telephone calls.

    Simon Kirby

    The Government has, as part of its action plan to address nuisance calls, made it easier for the Information Commissioner’s Office (ICO) to take action against nuisance callers. The Government has removed the legal threshold requiring the ICO to prove a firm has caused ‘substantial damage or substantial distress’, and increased the level of fine available to punish rogue companies.

    The Financial Conduct Authority is also committed to ensuring that cold calling by phone, text or email makes clear the identity of the firm, and the purpose of the communication, so the consumer can decide whether to proceed. Such promotions are also required to include a representative example or APR. Regulated firms must comply with data protection and Telephone and Mail Preference Service requirements.

    In addition, the FCA has committed to review its rules on unsolicited marketing calls, emails and text messages from consumer credit firms, including payday lenders. The review will include specifically looking at whether these unsolicited communications should be banned, given the potential for causing significant distress to consumers. The FCA will publish the outcome of that review by the end of the year.

  • Alison Thewliss – 2016 Parliamentary Question to the HM Treasury

    Alison Thewliss – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Alison Thewliss on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, what progress has been made by the Financial Conduct Authority in its review of nuisance calls relating to consumer credit.

    Simon Kirby

    The FCA has committed to review its rules on unsolicited marketing calls, emails and text messages from consumer credit firms, including payday lenders. The review includes specifically looking at whether these unsolicited communications should be banned.

    The FCA will publish the results of this review before the end of this year.

  • Tom Blenkinsop – 2016 Parliamentary Question to the HM Treasury

    Tom Blenkinsop – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Tom Blenkinsop on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, if he will make it his policy to amend the Lifetime ISA proposal so that the 25 per cent government bonus can be used towards a deposit on a first home.

    Jane Ellison

    As is usual with new financial products, the Government continues to work closely with industry on the finer details of the policy, including on the operation of withdrawals for first house purchase. Ministers will provide a statement on the position in due course.

  • Steve McCabe – 2016 Parliamentary Question to the HM Treasury

    Steve McCabe – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Steve McCabe on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the effects of performance bonuses on short-termism in the financial sector.

    Simon Kirby

    The UK is at the forefront of global efforts to tackle unacceptable pay practices in the banking sector and has the toughest regime on pay of any major financial centre.

    Firms are now required to have policies in place to defer, reduce, cancel or clawback bonuses in the event that poor performance or misconduct comes to light and the Government expects firms to be proactive in their application of these policies.

    The Government’s efforts have resulted in a restructuring of pay including a significant reduction in cash bonuses, and a better alignment of risk and reward in the financial sector.

  • Steve McCabe – 2016 Parliamentary Question to the HM Treasury

    Steve McCabe – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Steve McCabe on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 20 July 2016 to Question 42891, on double taxation: crown dependencies, for what reasons the Government has entered negotiations for a full revision of the treaties with Guernsey, Jersey and the Isle of Man.

    Jane Ellison

    Our double taxation treaties with Guernsey, Jersey and the Isle of Man (the Crown Dependencies) date from the 1950s and although we have updated them in part on several occasions many of the provisions are now out of date.

    The OECD Model Tax Convention is the starting point for the UK’s tax treaties. This model has undergone many revisions in recent years, most recently in 2014, with further changes to be incorporated arising from the OECD base erosion and profit shifting project. These negotiations will give us the opportunity of incorporating many of these revisions.

    HM Revenue and Customs officials began talks with the Crown Dependencies in April this year and will be meeting again with them soon to continue discussions.

  • Jamie Reed – 2016 Parliamentary Question to the Department for Business, Energy and Industrial Strategy

    Jamie Reed – 2016 Parliamentary Question to the Department for Business, Energy and Industrial Strategy

    The below Parliamentary question was asked by Jamie Reed on 2016-09-02.

    To ask the Secretary of State for Business, Energy and Industrial Strategy, what estimate his Department has made of the cost of the North West Coast Connections Project if cables through the Lake District National Park are (a) routed underground and (b) not routed underground.

    Jesse Norman

    Under the current energy market framework, the development of the transmission network in England and Wales is a matter for National Grid, and this includes assessment of the costs of any particular route or approach on specific projects, such as for the proposed North West Coast Connections. National Grid’s costs are regulated by Ofgem to ensure they are justified and efficient.

    The grant of planning consent for any energy project, including new transmission assets, would be considered by my rt. hon. Friend the Secretary of State for Business, Energy and Industrial Strategy under the Planning Act 2008, but the proposed project has not reached that stage.

  • Ian Murray – 2016 Parliamentary Question to the HM Treasury

    Ian Murray – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Ian Murray on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, what assessment the Government has made of the potential effect of the planned closure of HM Revenue and Customs offices in Scotland on the administration of the Scottish rate of income tax.

    Jane Ellison

    HM Revenue and Customs (HMRC) plans to create two new regional centres in Scotland in Glasgow and Edinburgh in 2019-20, accommodating between 5,700 and 6,300 full time equivalent posts by 2025. As work is transferred to the regional centres HMRC plans to close ten offices in Scotland by 2020. The changes are part of a ten-year transformation programme to deliver better public services at lower cost to the taxpayer. Scotland has 12 per cent of HMRC’s total workforce and that will not change with modernisation.

    HMRC believes that its responsibilities will be unaffected by the changes. Staff are receiving guidance and training to deal with any enquiries relating to the Scottish rate of income tax, as with any other tax issues.

  • Daniel Zeichner – 2016 Parliamentary Question to the HM Treasury

    Daniel Zeichner – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Daniel Zeichner on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, with reference to his Department’s press release of 13 August 2016, Chancellor Philip Hammond guarantees EU funding beyond date UK leaves the EU, how the future allocation of European Regional Development Fund funding will be assessed.

    Mr David Gauke

    The European Regional Development Fund is one of a number of European Structural and Investment Funds (ESIFs). The relevant information on ESIFs can be found in my letter of 12 August to the Secretary of State for Exiting the European Union. This letter is attached and can be found on the Gov.uk website, alongside the Treasury press notice.

  • Ian Murray – 2016 Parliamentary Question to the HM Treasury

    Ian Murray – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Ian Murray on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, how many HM Revenue and Customs (HMRC) offices in Scotland the Government plans to close by 2020; and what changes there will be in the total number of HMRC employees working in Scotland.

    Jane Ellison

    HM Revenue and Customs (HMRC) plans to create two new regional centres in Scotland in Glasgow and Edinburgh in 2019-20, accommodating between 5,700 and 6,300 full time equivalent posts by 2025. As work is transferred to the regional centres HMRC plans to close ten offices in Scotland by 2020. The changes are part of a ten-year transformation programme to deliver better public services at lower cost to the taxpayer. Scotland has 12 per cent of HMRC’s total workforce and that will not change with modernisation.

    HMRC believes that its responsibilities will be unaffected by the changes. Staff are receiving guidance and training to deal with any enquiries relating to the Scottish rate of income tax, as with any other tax issues.

  • Caroline Lucas – 2016 Parliamentary Question to the HM Treasury

    Caroline Lucas – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Caroline Lucas on 2016-09-02.

    To ask Mr Chancellor of the Exchequer, when he plans to respond to the concluding observations and recommendations of the UN Committee on Economic, Social and Cultural Rights on the UK’s sixth periodic report in relation to fiscal policy, corporate tax, inheritance tax and domestic and global tax abuse; and if he will make a statement.

    Jane Ellison

    In paragraph 73 of the UN recommendations, the UN requested that the UK submits its next period report under the Covenant (inclusive of a response to all the recommendations from this year’s examination) by 30 June 2021; it would therefore not be appropriate to pre-empt this report by anticipating what we, or indeed a future UK Government in 2021, might say.

    The government is committed to a competitive and fair tax system and to tackling tax evasion and avoidance by multinational companies. The UK has played a leading role in the development and implementation of the G20/OECD Base Erosion and Profit Shifting Project, which is aimed at ensuring that tax is paid on profits in the country in which they are generated. On tax evasion, the UK has also led on the development of the new global standard for the automatic exchange of information between countries on offshore accounts. All of the UK’s Overseas Territories and Crown Dependencies have signed up to this new Common Reporting Standard and will begin exchanging information with the UK this month.