Asked by: Baroness Anderson of Stoke-on-Trent (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the effect on the local economy of restricted access to free to use ATMs.
Answered by John Glen
Information on ATM numbers by Parliamentary Constituency is publicly available on the LINK website.
LINK, the scheme that runs the UK’s ATM network, has committed to maintain the broad geographical coverage of the ATM network in the UK. The Government-established Payment Systems Regulator, which regulates LINK, is closely monitoring developments within ATM provision and has used its powers to hold LINK to account over its commitments.
LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. Furthermore, LINK recently announced new additional premiums to safeguard the presence of free-to-use ATMs in remote and deprived areas.
Asked by: Baroness Anderson of Stoke-on-Trent (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the number of towns without free access to the ATM network.
Answered by John Glen
Information on ATM numbers by Parliamentary Constituency is publicly available on the LINK website.
LINK, the scheme that runs the UK’s ATM network, has committed to maintain the broad geographical coverage of the ATM network in the UK. The Government-established Payment Systems Regulator, which regulates LINK, is closely monitoring developments within ATM provision and has used its powers to hold LINK to account over its commitments.
LINK has put in place specific arrangements to protect free-to-use ATMs more than 1 kilometre away from the next nearest free-to-use ATM. Furthermore, LINK recently announced new additional premiums to safeguard the presence of free-to-use ATMs in remote and deprived areas.
Asked by: Baroness Anderson of Stoke-on-Trent (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions his Department has had with LINK on the interchange rate for ATMs.
Answered by John Glen
The Government recognises that widespread access to cash remains extremely important to the day-to-day lives of many consumers and businesses in the UK. Government is continuing to engage with the regulators and industry, including LINK, on this issue.
LINK has cancelled its third interchange fee reduction, due in January 2020, and put on hold its fourth reduction, due in January 2021, pending further review.
The Payment Systems Regulator, who regulates LINK, has welcomed these adjustments, having stated that LINK must carefully review its decisions on interchange fees to reflect changing market conditions.
Asked by: Baroness Anderson of Stoke-on-Trent (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, where the new University Enterprise Zones announced in Budget 2018 will be; and by what process that decision was reached.
Answered by Robert Jenrick
The Government announced £5m towards University Enterprise Zones in the Budget. The locations of these have not yet been decided. The process for awarding funding is currently being developed by the Department for Business, Energy and Industrial Strategy.
Asked by: Baroness Anderson of Stoke-on-Trent (Labour - Life peer)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the effect of the new business rates relief announced in Budget 2018 on local authority finances.
Answered by Elizabeth Truss
The Budget confirmed that local government will be fully compensated for the loss of income that results from changes to business rates announced in the Budget.