The below Parliamentary question was asked by Kelvin Hopkins on 2016-03-17.
To ask Mr Chancellor of the Exchequer, whether all documents released by his Department as a result of Freedom of Information requests are placed on his Department’s website.
Harriett Baldwin
A proportion of our responses are published on GOV.UK, which you can find at this link: https://www.gov.uk/government/publications?departments%5B%5D=hm-treasury&publication_type=foi-releases.
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The below Parliamentary question was asked by Douglas Carswell on 2016-03-17.
To ask Mr Chancellor of the Exchequer, with reference to the guidance note on public sector pay and terms published by his Department on 5 February 2016, whether he plans to place that guidance on a statutory footing; and if he will make a statement.
Greg Hands
There are no current plans to place the guidance note on public sector pay and terms on a statutory footing.
The note is a reminder of the rules that are in place and the Government’s expectations on public sector employers.
The below Parliamentary question was asked by Douglas Carswell on 2016-03-17.
To ask Mr Chancellor of the Exchequer, what discussions he has had with the Bank of England on utilising the University College London RSCoin proposal as an alternative to Western Union, CHAPS, BACS and the Faster Payment Service.
Harriett Baldwin
Digital currencies, and the distributed ledger technology that underpins them, have the potential to bring innovative services and products to UK customers and firms – particularly in areas like international transfers.
The Chancellor announced in March 2015 that the Government will bring digital currency exchange firms into regulation in the UK to help the legitimate industry flourish, and to create a hostile environment for illicit actors. We will publish proposals on this regulatory regime in due course.
As outlined in Deputy Governor, Ben Broadbent’s recent speech, the Bank of England is also exploring this emerging sector and the implications it could have for monetary and financial stability as part of its broader research agenda.
Separately, academics at University College London’s (UCL) digital currency research centre have also been looking at how the distributed ledger technology that underpins digital currencies could be harnessed by central banks. The Government is encouraged to see this research from one of the UK’s world-leading universities. However, this a theoretical paper by an independent institution, separate from the Bank of England’s work and from Government policy.
It is the Government’s ambition to foster the growth of legitimate digital currency firms as part of the wider FinTech ecosystem here in the UK. As part of this, the Government will consider the wider implications of a growing digital currencies sector for the financial services sector and the economy as a whole. Some parts of Government are also looking at how the benefits of distributed ledger technology can be harnessed to deliver greater innovation. However, the Government and the Bank of England do not currently have any plans to introduce a centrally issued digital currency.
The UK has been rated as having the world’s leading FinTech ecosystem in a recent global benchmarking exercise and attracted c. £524mn in investment in 2015.
The below Parliamentary question was asked by Douglas Carswell on 2016-03-17.
To ask Mr Chancellor of the Exchequer, whether he plans to implement the University College London RSCoin proposal.
Harriett Baldwin
Digital currencies, and the distributed ledger technology that underpins them, have the potential to bring innovative services and products to UK customers and firms – particularly in areas like international transfers.
The Chancellor announced in March 2015 that the Government will bring digital currency exchange firms into regulation in the UK to help the legitimate industry flourish, and to create a hostile environment for illicit actors. We will publish proposals on this regulatory regime in due course.
As outlined in Deputy Governor, Ben Broadbent’s recent speech, the Bank of England is also exploring this emerging sector and the implications it could have for monetary and financial stability as part of its broader research agenda.
Separately, academics at University College London’s (UCL) digital currency research centre have also been looking at how the distributed ledger technology that underpins digital currencies could be harnessed by central banks. The Government is encouraged to see this research from one of the UK’s world-leading universities. However, this a theoretical paper by an independent institution, separate from the Bank of England’s work and from Government policy.
It is the Government’s ambition to foster the growth of legitimate digital currency firms as part of the wider FinTech ecosystem here in the UK. As part of this, the Government will consider the wider implications of a growing digital currencies sector for the financial services sector and the economy as a whole. Some parts of Government are also looking at how the benefits of distributed ledger technology can be harnessed to deliver greater innovation. However, the Government and the Bank of England do not currently have any plans to introduce a centrally issued digital currency.
The UK has been rated as having the world’s leading FinTech ecosystem in a recent global benchmarking exercise and attracted c. £524mn in investment in 2015.
The below Parliamentary question was asked by Douglas Carswell on 2016-03-17.
To ask Mr Chancellor of the Exchequer, what planning his Department is undertaking on the collation of block chain data; and what discussions he has had with the Bank of England on that topic.
Harriett Baldwin
Digital currencies, and the distributed ledger technology that underpins them, have the potential to bring innovative services and products to UK customers and firms – particularly in areas like international transfers.
The Chancellor announced in March 2015 that the Government will bring digital currency exchange firms into regulation in the UK to help the legitimate industry flourish, and to create a hostile environment for illicit actors. We will publish proposals on this regulatory regime in due course.
As outlined in Deputy Governor, Ben Broadbent’s recent speech, the Bank of England is also exploring this emerging sector and the implications it could have for monetary and financial stability as part of its broader research agenda.
Separately, academics at University College London’s (UCL) digital currency research centre have also been looking at how the distributed ledger technology that underpins digital currencies could be harnessed by central banks. The Government is encouraged to see this research from one of the UK’s world-leading universities. However, this a theoretical paper by an independent institution, separate from the Bank of England’s work and from Government policy.
It is the Government’s ambition to foster the growth of legitimate digital currency firms as part of the wider FinTech ecosystem here in the UK. As part of this, the Government will consider the wider implications of a growing digital currencies sector for the financial services sector and the economy as a whole. Some parts of Government are also looking at how the benefits of distributed ledger technology can be harnessed to deliver greater innovation. However, the Government and the Bank of England do not currently have any plans to introduce a centrally issued digital currency.
The UK has been rated as having the world’s leading FinTech ecosystem in a recent global benchmarking exercise and attracted c. £524mn in investment in 2015.
The below Parliamentary question was asked by Douglas Carswell on 2016-03-17.
To ask Mr Chancellor of the Exchequer, what planning his Department is undertaking in relation to the effect of crypto-currencies on traditional banking models.
Harriett Baldwin
Digital currencies, and the distributed ledger technology that underpins them, have the potential to bring innovative services and products to UK customers and firms – particularly in areas like international transfers.
The Chancellor announced in March 2015 that the Government will bring digital currency exchange firms into regulation in the UK to help the legitimate industry flourish, and to create a hostile environment for illicit actors. We will publish proposals on this regulatory regime in due course.
As outlined in Deputy Governor, Ben Broadbent’s recent speech, the Bank of England is also exploring this emerging sector and the implications it could have for monetary and financial stability as part of its broader research agenda.
Separately, academics at University College London’s (UCL) digital currency research centre have also been looking at how the distributed ledger technology that underpins digital currencies could be harnessed by central banks. The Government is encouraged to see this research from one of the UK’s world-leading universities. However, this a theoretical paper by an independent institution, separate from the Bank of England’s work and from Government policy.
It is the Government’s ambition to foster the growth of legitimate digital currency firms as part of the wider FinTech ecosystem here in the UK. As part of this, the Government will consider the wider implications of a growing digital currencies sector for the financial services sector and the economy as a whole. Some parts of Government are also looking at how the benefits of distributed ledger technology can be harnessed to deliver greater innovation. However, the Government and the Bank of England do not currently have any plans to introduce a centrally issued digital currency.
The UK has been rated as having the world’s leading FinTech ecosystem in a recent global benchmarking exercise and attracted c. £524mn in investment in 2015.
The below Parliamentary question was asked by Laurence Robertson on 2016-03-17.
To ask Mr Chancellor of the Exchequer, what plans he has to simplify the declaration of gift aid payments.
Mr David Gauke
The Government has already taken steps to simplify the declaration of Gift Aid payments by publishing a new declaration in October 2015. This was developed following consultation with representatives of the charity sector. The simpler wording of the new declaration will give charities and community amateur sports clubs (CASCs) greater confidence that the donations they receive under Gift Aid will be valid.
The below Parliamentary question was asked by Douglas Carswell on 2016-03-17.
To ask Mr Chancellor of the Exchequer, what planning his Department is undertaking to facilitate private sector investment in the scalability of the proofs-of-work aspects of blockchain technology; and what discussions he has had with the Bank of England on that topic.
Harriett Baldwin
Digital currencies, and the distributed ledger technology that underpins them, have the potential to bring innovative services and products to UK customers and firms – particularly in areas like international transfers.
The Chancellor announced in March 2015 that the Government will bring digital currency exchange firms into regulation in the UK to help the legitimate industry flourish, and to create a hostile environment for illicit actors. We will publish proposals on this regulatory regime in due course.
As outlined in Deputy Governor, Ben Broadbent’s recent speech, the Bank of England is also exploring this emerging sector and the implications it could have for monetary and financial stability as part of its broader research agenda.
Separately, academics at University College London’s (UCL) digital currency research centre have also been looking at how the distributed ledger technology that underpins digital currencies could be harnessed by central banks. The Government is encouraged to see this research from one of the UK’s world-leading universities. However, this a theoretical paper by an independent institution, separate from the Bank of England’s work and from Government policy.
It is the Government’s ambition to foster the growth of legitimate digital currency firms as part of the wider FinTech ecosystem here in the UK. As part of this, the Government will consider the wider implications of a growing digital currencies sector for the financial services sector and the economy as a whole. Some parts of Government are also looking at how the benefits of distributed ledger technology can be harnessed to deliver greater innovation. However, the Government and the Bank of England do not currently have any plans to introduce a centrally issued digital currency.
The UK has been rated as having the world’s leading FinTech ecosystem in a recent global benchmarking exercise and attracted c. £524mn in investment in 2015.
The below Parliamentary question was asked by David Winnick on 2016-03-17.
To ask Mr Chancellor of the Exchequer, if he will arrange for HM Revenue and Customs to acknowledge or reply to the letter of 24 February 2016 from the hon. Member for Walsall North concerning a constituent.
Mr David Gauke
HM Revenue and Customs replied to the hon. Member’s letter on 14 March 2016.
The below Parliamentary question was asked by Stephen Timms on 2016-03-17.
To ask the Secretary of State for Work and Pensions, which is the first year in which he expects welfare spending to be contained within the welfare cap.
Priti Patel
The Government believes it is right to monitor welfare spending carefully. We will review the level of the Welfare Cap at the Autumn Statement, which is when the Office for Budget Responsibility will formally assess spending against the Welfare Cap.