Author: admin

  • Seema Malhotra – 2016 Parliamentary Question to the HM Treasury

    Seema Malhotra – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Seema Malhotra on 2016-03-23.

    To ask Mr Chancellor of the Exchequer, with reference to paragraph 2.228 of Budget 2016, what the timetable is for the restructuring of the Money Advice Service, the Pensions Advisory Service and Pension Wise.

    Harriett Baldwin

    At Budget 2016, the government published its response to the Public Financial Guidance Review and launched a consultation seeking views on the government’s plans to restructure the statutory financial guidance providers – the Money Advice Service, The Pensions Advisory Service and Pension Wise. This paper, which closes on 8 June 2016, sets out a new delivery model for public financial guidance and seeks views on how, within this model, the proposed services could best be offered. The new delivery model is designed to better complement the financial guidance provided by the third sector and the industry and provide more targeted support for consumers.

    The government will consider the responses to this consultation over the summer, and in parallel, work closely with the affected organisations to finalise the delivery structure. A detailed timetable will be set out with the final response, which will be published in the autumn. The government has been clear that the three affected organisations will continue to provide guidance to consumers until at least 2018.

  • Douglas Carswell – 2016 Parliamentary Question to the HM Treasury

    Douglas Carswell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Douglas Carswell on 2016-03-23.

    To ask Mr Chancellor of the Exchequer, what advice he has received from the Office for Budget Responsibility on the effect on the economy in the event of the UK leaving the EU.

    Mr David Gauke

    A vote to leave the EU is identified as an economic risk in the OBR’s March 2016 Economic and Fiscal Outlook, which states that it “could usher in an extended period of uncertainty regarding the precise terms of the UK’s future relationship with the EU. This could have negative implications for activity via business and consumer confidence and might result in greater volatility in financial and other asset markets”.

  • Robert Syms – 2016 Parliamentary Question to the Department of Health

    Robert Syms – 2016 Parliamentary Question to the Department of Health

    The below Parliamentary question was asked by Robert Syms on 2016-03-23.

    To ask the Secretary of State for Health, what the cumulative loss in revenue to HM Treasury has been as a result of the effect of tobacco control measures over the last 10 years.

    Jane Ellison

    The Department assesses the impact of all proposed measures before laying legislation using standard government methodology. These assessments are set out in Impact Assessments which are scrutinised by the Regulatory Policy Committee before publication alongside the Statutory Instrument. Impact Assessments include a thorough analysis of the costs, benefits and risks associated with policy options.

    A number of the tobacco measures contain commitments to further review the impact of the legislation within five years of them coming into force.

  • Robert Syms – 2016 Parliamentary Question to the Department of Health

    Robert Syms – 2016 Parliamentary Question to the Department of Health

    The below Parliamentary question was asked by Robert Syms on 2016-03-23.

    To ask the Secretary of State for Health, what estimate he has made of the potential reduction in revenue to the public purse resulting from the EU Tobacco Products Directive.

    Jane Ellison

    The Department assesses the impact of all proposed measures before laying legislation using standard government methodology. These assessments are set out in Impact Assessments which are scrutinised by the Regulatory Policy Committee before publication alongside the Statutory Instrument. Impact Assessments include a thorough analysis of the costs, benefits and risks associated with policy options.

    A number of the tobacco measures contain commitments to further review the impact of the legislation within five years of them coming into force.

  • Justin Madders – 2016 Parliamentary Question to the HM Treasury

    Justin Madders – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Justin Madders on 2016-03-23.

    To ask Mr Chancellor of the Exchequer, what discussions he has had with the Office for Budget Responsibility on the potential implications of the UK withdrawing from the EU.

    Mr David Gauke

    The Office for Budget Responsibility have set out their approach to assessing the implications of a UK withdrawal from the EU in their March 2016 Economic and fiscal outlook (see Box 3.4).

  • Charles Walker – 2016 Parliamentary Question to the HM Treasury

    Charles Walker – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Charles Walker on 2016-03-23.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the likely effect of the Fourth Money Laundering Directive on the ability in future of members of the House of Lords to continue to serve on the boards of banks and financial services companies; and if he will make a statement.

    Harriett Baldwin

    Under the Fourth Anti-Money Laundering Directive, which will be transposed into national law by June 2017, a politically exposed person is one who has been entrusted with a prominent public function domestically or by a foreign country. The Government will publish an Impact Assessment in due course. This will set out the benefits and costs for businesses in a wide range of sectors, including banking and financial services.

    The changes proposed under the Directive should not prevent any individual in this category from gaining or maintaining access to financial services. Board appointments will remain a matter for individual banks and financial services companies in line with relevant codes and regulations. The Treasury regularly raises the Directive with financial institutions and the regulator, and we encourage financial institutions to take a proportionate, risk-based approach when applying these measures.

  • Jim Cunningham – 2016 Parliamentary Question to the HM Treasury

    Jim Cunningham – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Jim Cunningham on 2016-03-23.

    To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 23 March 2016 to Question 31494, what recent discussions he has had with the Home Secretary on immigration policy; and if he will make a statement.

    Greg Hands

    Treasury Ministers have regular discussions with Ministers from other departments on a range of different policies as part of collective decision making.

  • Seema Malhotra – 2016 Parliamentary Question to the HM Treasury

    Seema Malhotra – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Seema Malhotra on 2016-03-23.

    To ask Mr Chancellor of the Exchequer, with reference to paragraph 2.228 of Budget 2016, when he expects the new money guidance body to be established.

    Harriett Baldwin

    At Budget 2016, the government published its response to the Public Financial Guidance Review and launched a consultation seeking views on the government’s plans to restructure the statutory financial guidance providers – the Money Advice Service, The Pensions Advisory Service and Pension Wise. This paper, which closes on 8 June 2016, sets out a new delivery model for public financial guidance and seeks views on how, within this model, the proposed services could best be offered. The new delivery model is designed to better complement the financial guidance provided by the third sector and the industry and provide more targeted support for consumers.

    The government will consider the responses to this consultation over the summer, and in parallel, work closely with the affected organisations to finalise the delivery structure. A detailed timetable will be set out with the final response, which will be published in the autumn. The government has been clear that the three affected organisations will continue to provide guidance to consumers until at least 2018.

  • Richard Burgon – 2016 Parliamentary Question to the HM Treasury

    Richard Burgon – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Richard Burgon on 2016-03-23.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the initial disposal of Government shares in Royal Bank of Scotland in August 2015 on (a) the share price and (b) the proposed future sale of shares.

    Harriett Baldwin

    The first sale of Government shares in RBS was conducted in August 2015 and raised £2.1 billion for the taxpayer. This was an important first step in returning the bank to private ownership, which is the right thing to do for the taxpayer and for British businesses: it will promote financial stability, lead to a more competitive banking sector, and support the interests of the wider economy.

    The government will conduct further sales of RBS shares subject to market conditions, and in doing so will maximise value for the taxpayer. The returns on the government’s interventions in RBS will be determined by the success of the whole of the selling programme, rather than the terms achieved on the first few disposals.

  • Richard Burgon – 2016 Parliamentary Question to the HM Treasury

    Richard Burgon – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Richard Burgon on 2016-03-23.

    To ask Mr Chancellor of the Exchequer, what advice he has received from (a) the Governor of the Bank of England and (b) Rothschilds Bank on the proposed sale of Government shares in Royal Bank of Scotland since August 2015; and if he will place a copy of such advice in the Library.

    Harriett Baldwin

    HM Government reached an agreement with RBS and the European Commission on 9 April 2014 to amend the terms of the Dividend Access Share (DAS). The full terms of this agreement can be found on the European Commission’s website:

    http://europa.eu

    The first sale of Royal Bank of Scotland (RBS) shares was conducted in August 2015. The advice which the Chancellor received from a) the Governor of the Bank of England; b) N.M. Rothschild; c) HM Treasury; and d) UK Financial Investments (UKFI) is available on the Government’s website:

    www.gov.uk.

    The government has not undertaken any sale of RBS shares since August 2015.

    “