The below Parliamentary question was asked by Wes Streeting on 2016-01-22.
To ask Mr Chancellor of the Exchequer, which constituencies he has visited in an official capacity since 7 May 2015; when each such visit took place; and what the purpose was of each such visit.
Harriett Baldwin
The Chancellor has visited constituencies all across the UK on official tour days since 7 May 2015. Please refer to the transparency data published on gov.uk for further information.
The below Parliamentary question was asked by Wes Streeting on 2016-01-22.
To ask Mr Chancellor of the Exchequer, what representations his Department has made to the Financial Conduct Authority on its review of banking culture since May 2015.
Harriett Baldwin
The Financial Conduct Authority (FCA) is an independent regulator. No Treasury Minister or official made any representations to the FCA about its review of banking culture before the FCA decided to discontinue that review.
The below Parliamentary question was asked by Wes Streeting on 2016-01-22.
To ask Mr Chancellor of the Exchequer, what meetings Ministers of his Department have had with the Financial Conduct Authority since May 2015.
Harriett Baldwin
Treasury Ministers and officials meet regularly with the Financial Conduct Authority to discuss relevant regulatory issues.
As was the case with previous Administrations, it is not the Treasury’s practice to provide details of all such discussions.
The below Parliamentary question was asked by Wes Streeting on 2016-01-22.
To ask Mr Chancellor of the Exchequer, what meetings have taken place between officials of his Department and the Financial Conduct Authority since May 2015.
Harriett Baldwin
Treasury Ministers and officials meet regularly with the Financial Conduct Authority to discuss relevant regulatory issues.
As was the case with previous Administrations, it is not the Treasury’s practice to provide details of all such discussions.
The below Parliamentary question was asked by Seema Malhotra on 2016-01-22.
To ask Mr Chancellor of the Exchequer, what assessments he has made of the effect of the level of the current account deficit on the future strength of the pound sterling.
Harriett Baldwin
The widening in the UK current account deficit in recent years has been driven by a deterioration in the UK’s net investment income from abroad, while the trade deficit has continued to improve. The Office for Budget Responsibility expect factors that have depressed the returns on the UK’s net assets, such as the relative weakness in economic activity in the UK’s trading partners, to recede. The current account deficit is forecast to narrow to -2.1 per cent by 2020, limiting any impact on the exchange rate. Furthermore, the government’s plan to complete the repair of the public finances will support a gradual narrowing of the current account deficit.
The below Parliamentary question was asked by Seema Malhotra on 2016-01-22.
To ask Mr Chancellor of the Exchequer, whether he has met with representatives from the Bank of England on the current account deficit; and if he will make a statement.
Harriett Baldwin
The Chancellor and the Governor of the Bank of England are statutorily required to meet to discuss the Financial Stability Report (FSR), and any other matters relating to the stability of the UK financial system, as soon as is reasonably practicable after the publication of the report.
At the most recent of these meetings—following the July 2015 FSR—the current account was discussed and the details of the meeting are published online by the Treasury at www.gov.uk.
The below Parliamentary question was asked by Seema Malhotra on 2016-01-22.
To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the increasing current account deficit on the UK economy.
Harriett Baldwin
Despite narrowing in Q3 2015 to -3.7 per cent of GDP, the current account deficit remains high by historical standards. The widening in the UK current account deficit in recent years has been driven by a deterioration in the UK’s net investment income from abroad, while the trade deficit has continued to improve. The Office for Budget Responsibility expect the income account to “improve gradually over the forecast period” as the factors that have temporarily depressed the returns on the UK’s net assets are expected to recede, and the current account deficit continues to narrow to -2.1 per cent by 2020. Furthermore, the government’s plan to complete the repair of the public finances will support a gradual narrowing of the current account deficit, limiting any effect on the exchange rate, though we remain vigilant to the risks.
The below Parliamentary question was asked by Seema Malhotra on 2016-01-22.
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential consequences of the current account deficit on the UK economy; and if he will make a statement.
Harriett Baldwin
Despite narrowing in Q3 2015 to -3.7 per cent of GDP, the current account deficit remains high by historical standards. The widening in the UK current account deficit in recent years has been driven by a deterioration in the UK’s net investment income from abroad, while the trade deficit has continued to improve. The Office for Budget Responsibility expect the income account to “improve gradually over the forecast period” as the factors that have temporarily depressed the returns on the UK’s net assets are expected to recede, and the current account deficit continues to narrow to -2.1 per cent by 2020. Furthermore, the government’s plan to complete the repair of the public finances will support a gradual narrowing of the current account deficit, limiting any effect on the exchange rate, though we remain vigilant to the risks.
The below Parliamentary question was asked by Seema Malhotra on 2016-01-22.
To ask Mr Chancellor of the Exchequer, what meetings he has had on the growth of the current account deficit.
Harriett Baldwin
The Chancellor and the Governor of the Bank of England are statutorily required to meet to discuss the Financial Stability Report (FSR), and any other matters relating to the stability of the UK financial system, as soon as is reasonably practicable after the publication of the report.
At the most recent of these meetings—following the July 2015 FSR—the current account was discussed and the details of the meeting are published online by the Treasury at www.gov.uk.
The below Parliamentary question was asked by Stephen Timms on 2016-01-19.
To ask the Secretary of State for Work and Pensions, whether a universal credit applicant who does not receive the housing part in their first payment due to lack of evidence provided in their application will receive a backdated payment upon receipt of the correct document.
Priti Patel
Once all the relevant information is received, a backdated payment of the housing element can be made.