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  • Susan Elan Jones – 2016 Parliamentary Question to the HM Treasury

    Susan Elan Jones – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Susan Elan Jones on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, what steps the Government is taking to improve access to mortgages for self-employed people.

    Harriett Baldwin

    The Government is committed to ensuring that the mortgage market delivers for creditworthy borrowers.

    On 1 December 2015 the Government launched the Help to Buy: ISA to help all first time buyers saving for their first home.

    Beyond the requirements set out in the regulations, decisions around the availability of individual mortgage loans are commercial decisions for lenders, including what evidence is required to validate income. The Government does not seek to intervene in these decisions.

  • David Hanson – 2016 Parliamentary Question to the HM Treasury

    David Hanson – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by David Hanson on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, with reference to the Oral Contribution of the Economic Secretary to the Treasury of 1 February 2016, Official Report, column 748, what further progress has been made on investigations into the Connaught Income Fund, series 1.

    Harriett Baldwin

    The issues raised are a matter for the Financial Conduct Authority (FCA) who are operationally independent from Government.

    The questions have been passed on to the FCA. The FCA will reply directly to the Honorable Member by letter. A copy of the letter will be placed in the Library of the House.

  • Jamie Reed – 2016 Parliamentary Question to the HM Treasury

    Jamie Reed – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jamie Reed on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 12 February 2016 to Question 26203, if he will provide the number of publicly-funded jobs related directly to the Northern Powerhouse located in (a) Cumbria, (b) Northern England, (c) London and (d) other parts of England.

    Greg Hands

    The latest regional public sector employment survey figures are available online at: http://www.ons.gov.uk/ons/rel/pse/public-sector-employment/q3-2015/index.html

  • Julie Cooper – 2016 Parliamentary Question to the HM Treasury

    Julie Cooper – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Julie Cooper on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the fall in China’s foreign currency reserves on the UK economy.

    Harriett Baldwin

    China’s foreign exchange reserves have fallen over the past year, down $582.5bn since the start of 2015. However, the stock of reserves still remains sizeable, standing at $3.23 trillion. The UK’s exports to China have increased by 85% since 2010 but are still only 5% of total UK trade.

  • Ronnie Cowan – 2016 Parliamentary Question to the HM Treasury

    Ronnie Cowan – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Ronnie Cowan on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, what proportion of tax credit investigations carried out by Concentrix under its contract with his Department have resulted in findings of (a) fraud and (b) error in the claim.

    Mr David Gauke

    As at 21 February 2016 Concentrix had closed around 440,000 cases. Around 390,000 of these resulted in no amendment to the award. Around 50,000 awards have been amended, though HM Revenue and Customs (HMRC) does not hold information on how many of these were cancelled and how many adjusted.

    HMRC does not separate out the number of awards that were amended for error and from the number amended for fraud.

    On appeals, I refer the member to the answer I provided on 15 February 2016 to question 26041.

  • Ronnie Cowan – 2016 Parliamentary Question to the HM Treasury

    Ronnie Cowan – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Ronnie Cowan on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, how many tax credit investigations carried out by Concentrix under its contract with his Department have resulted in (a) no change in and (b) withdrawal of the tax credit award; and how many decisions to withdraw such awards were appealed successfully.

    Mr David Gauke

    As at 21 February 2016 Concentrix had closed around 440,000 cases. Around 390,000 of these resulted in no amendment to the award. Around 50,000 awards have been amended, though HM Revenue and Customs (HMRC) does not hold information on how many of these were cancelled and how many adjusted.

    HMRC does not separate out the number of awards that were amended for error and from the number amended for fraud.

    On appeals, I refer the member to the answer I provided on 15 February 2016 to question 26041.

  • Philip Davies – 2016 Parliamentary Question to the HM Treasury

    Philip Davies – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Philip Davies on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, how much has accrued to the public purse from the taxation of coal in each of the last five years.

    Damian Hinds

    It is not possible to disaggregate tax receipts by commodity therefore, a figure for the revenue accrued by the Exchequer from taxes levied on coal cannot be provided.

  • Phil Boswell – 2016 Parliamentary Question to the HM Treasury

    Phil Boswell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Phil Boswell on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, what discussions he has had with which financial institutions on the energy exposure of such institutions in response to the falling price of oil.

    Harriett Baldwin

    The Chancellor set out the government’s view on the challenges facing the UK economy in a speech on 7 January. The transcript of the speech is available from www.gov.uk/government/speeches/chancellor-on-challenges-facing-uk-economy-in-2016. The Chancellor and other Ministers meet regularly with regulators and the Bank of England. In addition, the Bank of England’s Financial Stability Report sets out an analysis, which can be found here:

    http://www.bankofengland.co.uk/publications/Pages/fsr/2015/dec.aspx

    The Financial Policy Committee’s (FPC) stress test results in December 2015 suggest that the major UK banks would be resilient to a sustained commodity price downturn.

    The UK now has a robust system of financial regulation, where the regulators have clear objectives and powers to deal with risks to the financial sector. The Government established the FPC to identify, monitor and address systemic risks to financial stability.

  • Phil Boswell – 2016 Parliamentary Question to the HM Treasury

    Phil Boswell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Phil Boswell on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, what mechanisms the Government has in place to ensure that banks with high energy exposure remain stable.

    Harriett Baldwin

    The Chancellor set out the government’s view on the challenges facing the UK economy in a speech on 7 January. The transcript of the speech is available from www.gov.uk/government/speeches/chancellor-on-challenges-facing-uk-economy-in-2016. The Chancellor and other Ministers meet regularly with regulators and the Bank of England. In addition, the Bank of England’s Financial Stability Report sets out an analysis, which can be found here:

    http://www.bankofengland.co.uk/publications/Pages/fsr/2015/dec.aspx

    The Financial Policy Committee’s (FPC) stress test results in December 2015 suggest that the major UK banks would be resilient to a sustained commodity price downturn.

    The UK now has a robust system of financial regulation, where the regulators have clear objectives and powers to deal with risks to the financial sector. The Government established the FPC to identify, monitor and address systemic risks to financial stability.

  • Phil Boswell – 2016 Parliamentary Question to the HM Treasury

    Phil Boswell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Phil Boswell on 2016-02-19.

    To ask Mr Chancellor of the Exchequer, what discussions his Department has had with the Prudential Regulation Authority on the level of risk at (a) financial institutions with high energy market exposure and (b) such institutions which have issued loans to the North Sea oil industry.

    Harriett Baldwin

    The Chancellor set out the government’s view on the challenges facing the UK economy in a speech on 7 January. The transcript of the speech is available from www.gov.uk/government/speeches/chancellor-on-challenges-facing-uk-economy-in-2016. The Chancellor and other Ministers meet regularly with regulators and the Bank of England. In addition, the Bank of England’s Financial Stability Report sets out an analysis, which can be found here:

    http://www.bankofengland.co.uk/publications/Pages/fsr/2015/dec.aspx

    The Financial Policy Committee’s (FPC) stress test results in December 2015 suggest that the major UK banks would be resilient to a sustained commodity price downturn.

    The UK now has a robust system of financial regulation, where the regulators have clear objectives and powers to deal with risks to the financial sector. The Government established the FPC to identify, monitor and address systemic risks to financial stability.