Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will take steps to help people with CIFAS markers to access banking facilities to enable them to receive (a) wages and (b) welfare payments.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
CIFAS, the UK’s fraud prevention service, plays a vital role in protecting individuals and the financial system from fraud and financial crime. Its work supports the Government’s broader efforts to tackle fraud and maintain trust in the financial system.
The Government also recognises the importance of ensuring that individuals can access banking services to receive wages and welfare payments. Where individuals face barriers when accessing banking services, alternative options may be available. The nine largest personal current account providers in the UK are legally required to offer basic bank accounts to customers who do not have a bank account or are not eligible for a standard current account. These accounts are fee-free and provide essential banking services, though they do not include overdrafts or cheque books. Beyond the high street banks, other options for people to make and receive payments may include payment and electronic money institutions.
If someone with a CIFAS marker wishes to further understand the information that CIFAS holds against them, they may wish to make a Data Subject Access Request (DSAR) to CIFAS
Furthermore, if an individual believes that a CIFAS marker has been incorrectly assigned, they should first raise it with the organisation that recorded it to the CIFAS database for them to review. If the organisation does not remove the marker then the individual can reach out directly to CIFAS following the process outlined in its complaints procedure.
Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she has taken to support representations of developing nations in international discussions on global sovereign debt.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The UK government is committed to supporting and working closely with developing nations in international discussions on global sovereign debt. The UK government engages with our partners through various multilateral fora, including the G20, the Paris Club and the Global Sovereign Debt Roundtable. Through the G20, we participate collaboratively in the Common Framework, helping to deliver coordinated and sustainable solutions for low-income countries facing debt vulnerabilities. We are committed to strengthening Global South voices across the Global Financial System in relation to sovereign debt. This was exemplified our support of the outcome document from the Fourth International Conference on Financing For Development (Compromiso de Sevilla) in July of this year, which called for the establishment of a platform for borrower countries with support from existing institutions.
Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, which organisations will be represented at The London Coalition on Sustainable Sovereign Debt.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Steering Committee includes representatives from the banking sector, asset managers and legal experts, alongside members of the official sector from institutions such as the World Bank, IMF and African Union. The Committee is co-chaired by the UK Economic Secretary to the Treasury, who leads on the UK’s financial services policy, reform and regulation, and José Vinals, former Chairman of Standard Chartered Bank, who serves in his personal capacity bringing vast experience from both the public and private sectors.
Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will publish an economic impact assessment on the potential impact of the National Insurance exemption for Indian nationals posted temporarily to the UK under the UK–India Free Trade Agreement on (a) wages, (b) employment opportunities and (c) recruitment practices in the UK information technology sector.
Answered by James Murray - Chief Secretary to the Treasury
The OBR will certify the impact of the trade deal including the Double Contributions Convention in the usual way at a fiscal event, once the deal is finalised and ratified. The agreement to negotiate a Double Contributions Convention was made in the context of the wider deal, which will bring billions into the economy.
Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has considered the potential merits of offering (a) enhanced and (b) conditional Agricultural Property Relief on (i) land farmed with certified organic production standards and (ii) farms making the transition to certified organic standards.
Answered by James Murray - Chief Secretary to the Treasury
There are no plans to change the qualifying conditions for agricultural property relief to distinguish between conventional and organic farming.
The Government is supporting organic farming, along with other environmentally friendly farming techniques, through Environmental Land Management schemes that are paying thousands of farmers for pesticide free farming and natural soil management methods such as the use of companion crops. This support helps ensure farmers can produce the food the country needs while also protecting nature.
Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make it her policy to ring-fence Business Asset Disposal Relief in the upcoming Budget.
Answered by James Murray - Chief Secretary to the Treasury
At Autumn Budget, the government announced that it would maintain Business Asset Disposal Relief, with its £1 million lifetime limit. The Chancellor also announced that the Capital Gains Tax rate for Business Asset Disposal Relief will increase from 10% to 14% from 6 April 2025, and will increase again to match the lower main rate at 18% from 6 April 2026.
Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing a tax on unbuilt developments where planning permission has lapsed; and if she will make an assessment of the potential impact of such a tax on the construction of new homes.
Answered by James Murray - Chief Secretary to the Treasury
Introducing new taxes requires a comprehensive evaluation of a variety of factors including, but not limited to, complexity, fairness, and simplicity for the taxpayer. The Government keeps all taxes under review as part of the usual tax policy making process and welcomes representations to help inform future decisions on tax policy. Any changes are generally announced at fiscal events, where decisions are taken in the round.
The Government has committed to delivering 1.5 million new homes and has consulted on reforms to the National Planning Policy Framework to deliver key steps to get Britain building, including the reintroduction of mandatory housing targets.
Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has had discussion with the Financial Conduct Authority on the racial disparity in motor insurance premiums identified in the Citizens Advice report, Discriminatory pricing: exploring the ethnicity penalty in the insurance market, published in March 2022.
Answered by Tulip Siddiq
Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors on an ongoing basis.
Under the Equality Act 2010 insurers cannot use race as a risk factor when determining the price of insurance. The Government is also determined that insurers should treat their customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules.
The FCA’s rules requires firms to ensure their products offer fair value (i.e. the price a consumer pays for an insurance product or service to be reasonable compared to the overall benefits they can expect to receive). The FCA has powers to act against firms that fail to comply.
Asked by: Anna Dixon (Labour - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that new banking hubs will be opened in communities affected by bank branch closures.
Answered by Tulip Siddiq
The Government understands the importance of face-to-face banking to communities and high streets, and is committed to championing sufficient access for all as a priority.
This is why the Government is working closely with industry to ensure that at least 350 banking hubs are delivered across the UK, which will provide individuals and businesses up and down the country with critical cash and banking services.
Over 60 banking hubs are already open and Cash Access UK, who oversee banking hub rollout, expect 100 hubs to be open by the end of the year.