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  • John Healey – 2016 Parliamentary Question to the HM Treasury

    John Healey – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by John Healey on 2016-04-18.

    To ask Mr Chancellor of the Exchequer, whether the Higher Stamp Duty Land Tax rates announced in Budget 2016 will be levied on properties acquired by social landlords under Section 106 of the Town and Country Planning Act 1990.

    Mr David Gauke

    The higher rates of Stamp Duty Land Tax (SDLT) for additional properties was introduced to try to make it fairer for people trying to get their foot on the property ladder. Under SDLT legislation, there are exemptions to the tax, including the higher rates, for certain acquisitions by registered social landlords.

  • Daniel Zeichner – 2016 Parliamentary Question to the Department for Communities and Local Government

    Daniel Zeichner – 2016 Parliamentary Question to the Department for Communities and Local Government

    The below Parliamentary question was asked by Daniel Zeichner on 2016-04-18.

    To ask the Secretary of State for Communities and Local Government, how funding is allocated for the Local Growth Fund; and if he will publish formal guidance on the bidding process for local enterprise partnerships.

    James Wharton

    The Local Growth Fund is competitively awarded to Local Enterprise Partnerships based on the strength of their plans for driving economic growth in their areas. The Secretary of State has written to all LEPs setting out the basis on which further awards will be made later this year. The government is encouraging bold and ambitious bids for this further funding, which will be assessed competitively based on the quality of the proposals submitted.

  • Daniel Zeichner – 2016 Parliamentary Question to the Department for Communities and Local Government

    Daniel Zeichner – 2016 Parliamentary Question to the Department for Communities and Local Government

    The below Parliamentary question was asked by Daniel Zeichner on 2016-04-18.

    To ask the Secretary of State for Communities and Local Government, if he will take steps to ensure that the £500 million Access Fund is spent on sustainable transport projects.

    James Wharton

    The £500 million Access Fund is part of the Department for Transport’s overall contribution to the Local Growth Fund in this spending review period. As with the majority of the Local Growth Fund it is available to Local Enterprise Partnerships to bid for and spend in line with their own priorities. LEPs are already planning to spend considerably more than £500 million on sustainable transport and we would encourage them to propose ambitious sustainable transport measures in their further growth deal bids this year.

  • 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 2016-04-18.

    To ask Mr Chancellor of the Exchequer, what assessment his Department has made on the potential selling price of the Government’s remaining stake in the Royal Bank of Scotland of the implications for the leveraged loans made by that bank to the oil and gas sector of the default rate of companies in that sector on high-yield loans.

    Harriett Baldwin

    The Government’s shareholding in RBS is managed at arm’s length from HM Treasury by UK Financial Investments (UKFI). However, UKFI’s role is to manage the investment, not the bank. RBS retains its own independent Board of Directors. Commercial decisions such as lending remain the responsibility of the bank’s independent management team and not the Government.

  • 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 2016-04-18.

    To ask Mr Chancellor of the Exchequer, what information he holds on what discussions have taken place between HM Revenue and Customs and former Prime Minister Mr Tony Blair or his advisers about (a) Mr Blair’s tax affairs and (b) charges brought in under the Finance Act 2006 as they relate to those tax affairs.

    Mr David Gauke

    HM Revenue and Customs does not divulge details about an individual’s tax affairs.

  • 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 2016-04-18.

    To ask Mr Chancellor of the Exchequer, on how many occasions between 2006 and 2011 HM Revenue and Customs officials (a) met and (b) communicated with Peter Twiddy, a consultant who worked at Bircham Dyson Bell.

    Mr David Gauke

    HM Revenue and Customs officials meet with and receive representations from a wide variety of organisations as part of the policy formulation and delivery process. As has been the practice of successive administrations, it is not the Government’s practice to give details of any such discussion.

  • Andrew Rosindell – 2016 Parliamentary Question to the HM Treasury

    Andrew Rosindell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Andrew Rosindell on 2016-04-18.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the implications for economic security of the proposed merger between the London Stock Exchange and Deutsche Börse.

    Harriett Baldwin

    Once formally notified of the proposed merger, the Bank of England and the Financial Conduct Authority (as supervisors of the London Stock Exchange Group’s UK-authorised subsidiaries) must assess the proposal from a regulatory standpoint.

    In addition the proposed merger must be approved by competition authorities and is subject to a range of other assessments including those of overseas regulators and shareholders.

  • Andrew Rosindell – 2016 Parliamentary Question to the HM Treasury

    Andrew Rosindell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Andrew Rosindell on 2016-04-18.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the anti-trust implications of the proposed merger between the London Stock Exchange and Deutsche Börse.

    Harriett Baldwin

    Once formally notified of the proposed merger, the Bank of England and the Financial Conduct Authority (as supervisors of the London Stock Exchange Group’s UK-authorised subsidiaries) must assess the proposal from a regulatory standpoint.

    In addition the proposed merger must be approved by competition authorities and is subject to a range of other assessments including those of overseas regulators and shareholders.

  • 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 2016-04-18.

    To ask Mr Chancellor of the Exchequer, if he will bring forward proposals for tighter regulation of companies that carry out payment processing on behalf of payday loan companies.

    Harriett Baldwin

    The Government has fundamentally reformed regulation of the consumer credit market, transferring regulatory responsibility from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014. This more robust regulatory system is helping to deliver the Government’s vision for a well-functioning and sustainable consumer credit market which is able to meet consumers’ needs.

    The FCA has incorporated key elements of OFT guidance on continuous payment authorities (CPAs) into its rules. In particular, firms are required not to use CPA if there is reason to believe that there are insufficient funds in the borrower’s account, or that this will leave insufficient funds for priority debts or other essential living expenses. Lenders must also show forbearance if there is evidence of financial difficulty.

    The FCA have introduced rules to limit payday lenders’ use of CPAs to two unsuccessful attempts to withdraw funds from the customer’s account. The FCA has also banned CPA part payment, so that a lender can only take payment if the whole owed sum is available in the customer’s account. The FCA can use its flexible rule-making powers to take further action where it deems necessary to protect consumers.

  • 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 2016-04-18.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the rising default rate of companies in the oil and gas sector on their high-yield loans on wider stability of the financial sector.

    Harriett Baldwin

    The Chancellor has set out the government’s view on the challenges facing the UK economy at budget on 16 March 2016. The transcript of the speech is available from:

    www.gov.uk/government/speeches/budget-2016-george-osbornes-speech

    In addition, the Bank of England’s December 2015 Financial Stability Report sets out analysis on the exposures of UK banks to commodity sectors. The full report can be found here:

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