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  • Paul Monaghan – 2015 Parliamentary Question to the HM Treasury

    Paul Monaghan – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Paul Monaghan on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the British Virgin Islands government’s progress towards implementing a central register of beneficial ownership; and what steps he is taking to ensure that that government publishes a timetable for that implementation by November 2015.

    Mr David Gauke

    The international standards on anti-money laundering and counter terrorist financing, including transparency of legal persons, are set by the Financial Action Task Force. The British Virgin Islands and the Cayman Islands are members of the Caribbean Financial Action Task Force and are subject to mutual evaluations of their AML/CTF regime through this body.

    At the December 2014 Joint Ministerial Council, the UK and the Overseas Territories committed to continue to work together in raising international standards to tackle money laundering, tax evasion, illicit finance and corruption, leading by example given the importance of our financial centres to the international financial system. In March, the Minister for the Overseas Territories and I wrote to the Premiers of the BVI and Cayman Islands asking them to set out plans and a timetable for the implementation of central registers of company beneficial ownership, or similarly effective systems, by the November Joint Ministerial Council.

    Any system should meet the following three criteria: UK and domestic law enforcement and tax authorities must be able to access company beneficial ownership information without restriction, subject to relevant safeguards; these competent authorities should be able to quickly identify all companies that a particular beneficial owner has a stake in, without needing to submit multiple and repeated requests; and companies or their beneficial owners must not be alerted to the fact that an investigation is under way.

    The UK Government continues to engage actively with the BVI and Cayman Islands to emphasize the importance of this agenda and to offer any technical support that might be required.

  • Paul Monaghan – 2015 Parliamentary Question to the HM Treasury

    Paul Monaghan – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Paul Monaghan on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the Cayman Islands government’s progress towards implementing a central register of beneficial ownership; and what steps he is taking to ensure that that government publishes a timetable for that implementation by November 2015.

    Mr David Gauke

    The international standards on anti-money laundering and counter terrorist financing, including transparency of legal persons, are set by the Financial Action Task Force. The British Virgin Islands and the Cayman Islands are members of the Caribbean Financial Action Task Force and are subject to mutual evaluations of their AML/CTF regime through this body.

    At the December 2014 Joint Ministerial Council, the UK and the Overseas Territories committed to continue to work together in raising international standards to tackle money laundering, tax evasion, illicit finance and corruption, leading by example given the importance of our financial centres to the international financial system. In March, the Minister for the Overseas Territories and I wrote to the Premiers of the BVI and Cayman Islands asking them to set out plans and a timetable for the implementation of central registers of company beneficial ownership, or similarly effective systems, by the November Joint Ministerial Council.

    Any system should meet the following three criteria: UK and domestic law enforcement and tax authorities must be able to access company beneficial ownership information without restriction, subject to relevant safeguards; these competent authorities should be able to quickly identify all companies that a particular beneficial owner has a stake in, without needing to submit multiple and repeated requests; and companies or their beneficial owners must not be alerted to the fact that an investigation is under way.

    The UK Government continues to engage actively with the BVI and Cayman Islands to emphasize the importance of this agenda and to offer any technical support that might be required.

  • Paul Monaghan – 2015 Parliamentary Question to the HM Treasury

    Paul Monaghan – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Paul Monaghan on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 8 July 2015 to Question 5430, on ownership of companies, what his definition is of a similarly effective system.

    Mr David Gauke

    The international standards on anti-money laundering and counter terrorist financing, including transparency of legal persons, are set by the Financial Action Task Force. The British Virgin Islands and the Cayman Islands are members of the Caribbean Financial Action Task Force and are subject to mutual evaluations of their AML/CTF regime through this body.

    At the December 2014 Joint Ministerial Council, the UK and the Overseas Territories committed to continue to work together in raising international standards to tackle money laundering, tax evasion, illicit finance and corruption, leading by example given the importance of our financial centres to the international financial system. In March, the Minister for the Overseas Territories and I wrote to the Premiers of the BVI and Cayman Islands asking them to set out plans and a timetable for the implementation of central registers of company beneficial ownership, or similarly effective systems, by the November Joint Ministerial Council.

    Any system should meet the following three criteria: UK and domestic law enforcement and tax authorities must be able to access company beneficial ownership information without restriction, subject to relevant safeguards; these competent authorities should be able to quickly identify all companies that a particular beneficial owner has a stake in, without needing to submit multiple and repeated requests; and companies or their beneficial owners must not be alerted to the fact that an investigation is under way.

    The UK Government continues to engage actively with the BVI and Cayman Islands to emphasize the importance of this agenda and to offer any technical support that might be required.

  • Jonathan Ashworth – 2015 Parliamentary Question to the HM Treasury

    Jonathan Ashworth – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jonathan Ashworth on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, how many diesel power stations receiving capacity market payments have been fully or part-funded through the Enterprise Investment Scheme.

    Mr David Gauke

    HM Revenue and ‎Customs (HMRC), which administers the Enterprise Investment Scheme (EIS), does not keep a record of the number of diesel power generation companies receiving capacity market payments that have received investments under the EIS.

    HMRC does not disclose details of companies that have raised investments under the EIS.

    No estimate has been made of the number of diesel power stations taking part in the next Capacity Market Auction that may receive investments under the EIS. Whether a company qualifies for EIS depends on its individual circumstances.

    The Government keeps all tax schemes under review, to ensure that any reliefs continue to encourage investment in a well-targeted and effective manner.

  • George Kerevan – 2015 Parliamentary Question to the HM Treasury

    George Kerevan – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by George Kerevan on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, what recent discussions he has had with the Governor of the Bank of England on the exchange rate of sterling.

    Harriett Baldwin

    The Chancellor of the Exchequer has frequent discussions with the Governor of the Bank of England on a wide range of issues relating to the UK economy.

  • Jonathan Ashworth – 2015 Parliamentary Question to the HM Treasury

    Jonathan Ashworth – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jonathan Ashworth on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, what estimate he has made of how many diesel power stations will take part in the next Capacity Market auction after being fully or part-funded through the Enterprise Investment Scheme.

    Mr David Gauke

    HM Revenue and ‎Customs (HMRC), which administers the Enterprise Investment Scheme (EIS), does not keep a record of the number of diesel power generation companies receiving capacity market payments that have received investments under the EIS.

    HMRC does not disclose details of companies that have raised investments under the EIS.

    No estimate has been made of the number of diesel power stations taking part in the next Capacity Market Auction that may receive investments under the EIS. Whether a company qualifies for EIS depends on its individual circumstances.

    The Government keeps all tax schemes under review, to ensure that any reliefs continue to encourage investment in a well-targeted and effective manner.

  • Jonathan Ashworth – 2015 Parliamentary Question to the HM Treasury

    Jonathan Ashworth – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jonathan Ashworth on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, which diesel power station operators have been approved for the Enterprise Investment Scheme.

    Mr David Gauke

    HM Revenue and ‎Customs (HMRC), which administers the Enterprise Investment Scheme (EIS), does not keep a record of the number of diesel power generation companies receiving capacity market payments that have received investments under the EIS.

    HMRC does not disclose details of companies that have raised investments under the EIS.

    No estimate has been made of the number of diesel power stations taking part in the next Capacity Market Auction that may receive investments under the EIS. Whether a company qualifies for EIS depends on its individual circumstances.

    The Government keeps all tax schemes under review, to ensure that any reliefs continue to encourage investment in a well-targeted and effective manner.

  • Jonathan Ashworth – 2015 Parliamentary Question to the HM Treasury

    Jonathan Ashworth – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jonathan Ashworth on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, whether the Enterprise Investment Scheme will be available to fund the construction of diesel power stations taking part in Capacity Market auctions after 2015.

    Mr David Gauke

    HM Revenue and ‎Customs (HMRC), which administers the Enterprise Investment Scheme (EIS), does not keep a record of the number of diesel power generation companies receiving capacity market payments that have received investments under the EIS.

    HMRC does not disclose details of companies that have raised investments under the EIS.

    No estimate has been made of the number of diesel power stations taking part in the next Capacity Market Auction that may receive investments under the EIS. Whether a company qualifies for EIS depends on its individual circumstances.

    The Government keeps all tax schemes under review, to ensure that any reliefs continue to encourage investment in a well-targeted and effective manner.

  • Matthew Offord – 2015 Parliamentary Question to the HM Treasury

    Matthew Offord – 2015 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Matthew Offord on 2015-09-16.

    To ask Mr Chancellor of the Exchequer, what steps his Department is taking to ensure remittances flow through secure and accessible channels to Somalia.

    Harriett Baldwin

    The Treasury has worked closely with industry and regulators to ensure that remittances continue to flow from the UK to Somalia.

    The Treasury plays a leading role in the Action Group on Cross-Border Remittances, which brings together participants from industry, Government, regulators and international partners to maintain a continued dialogue on the withdrawal of banking services from the money service business sector, in order to develop a shared understanding of the expectations of all parties and help support remittance flows.

    Over the past two years, the Action Group has overseen a number of initiatives to boost compliance in the Money Service Business (MSB) sector, and to give greater confidence to banks offering services to this sector:

    • The group has worked closely with the supervisors to develop revised guidance for the MSB sector, and for those offering banking services to the sector, including a statement from the Financial Conduct Authority (FCA) in April 2015 clarifying the FCA’s expectations with regards to Banks’ management of money-laundering risk.

    • The National Crime Agency has worked collaboratively with the banking and MSB sectors to improve understanding and manage risk.

    • Her Majesty’s Revenue and Customs (HMRC), the supervisor of MSBs, more than doubled the number of compliance visits to MSBs in 2014, and launched an e-learning product to improve MSBs’ understanding of their obligations under the Money Laundering Regulations.

      Alongside this work in the UK, the Government is also supporting targeted capacity building in Somalia, delivered through the World Bank. This includes a specific focus on improving regulation of the Somali remittance sector and supporting the drafting and introduction of necessary financial crime legislation. This goes hand-in-hand with our longer term programme to support the formalisation of the financial sector in Somalia.

      These actions both in the UK and Somalia are intended to safeguard the vital remittances that flow between the two countries. The Action Group continues to monitor UK-Somalia remittance corridor closely and is reassured that there is currently no evidence to date of an interruption in the flow of remittances between the UK and Somalia, or any significant increase in remittance costs. This is a resilient and responsive market and the Government remains committed to supporting it and the diaspora communities that rely on these services.

      Updates on the work of the Action Group can be found on the gov.uk website:

      https://www.gov.uk/government/groups/action-group-on-cross-border-remittances

  • MiDavies – 2015 Parliamentary Question to the Department for Communities and Local Government

    MiDavies – 2015 Parliamentary Question to the Department for Communities and Local Government

    The below Parliamentary question was asked by MiDavies on 2015-09-16.

    To ask the Secretary of State for Communities and Local Government, what proportion of new houses was built on brownfield land between May 2010 and May 2015.

    Brandon Lewis

    Statistics for 2013/14 were published in August 2015. These statistics showed that in 2013/14, 60 per cent of new residential addresses, including conversions to residential use, were created on previously developed land.

    The figures in the 2013/14 publication are the first in the new series and so are not directly comparable to the previous Land Use Change Statistics which last published data covering the year 2011.

    The Land Use Change Statistics provide the Department’s official source for estimating the proportion of new residential development on previously developed land (brownfield). They were historically collected from 1985 to 2011. The previous data collection was expensive to run. By switching to an innovative new methodology the Department has made significant savings whilst providing a statistical series more suitable for detailed statistical and spatial analysis than before.

    Historical Land Use Change statistics are available on the Department’s website https://www.gov.uk/government/collections/land-use-change-statistics#archived-publications

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