Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the effect of auto-renewals on competition in the private motor insurance market.
Answered by Harriett Baldwin
This is a matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.
The question has been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will estimate the average savings available to customers by switching car insurance provider rather than being auto-renewed in (a) the UK, (b) South East England and (c) Southend West constituency.
Answered by Harriett Baldwin
This is a matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.
The question has been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will estimate the average savings available from switching car insurance provider rather than being auto-renewed for (a) all consumers, (b) consumers aged over 65 and (c) consumers without internet access.
Answered by Harriett Baldwin
This is a matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.
The question has been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of clearer renewal notices on the competitiveness of the private motor insurance market; and whether he has had discussions with insurance companies on that matter.
Answered by Harriett Baldwin
This is a matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.
The question has been passed on to the FCA. The FCA will reply directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will give guidance to public bodies on the pay of chief executives.
Answered by Danny Alexander
Pay restraint has played a vital role in reducing the fiscal deficit. It is important for senior public sector workers including chief executives to show leadership in this area.
For Senior Civil Servants pay should be within nationally determined pay scales which are recommended by the independent Senior Salaries Review body. Pay for chief executives outside the Civil Service is decided by individual departments and employers.
For both departments and public bodies, any salaries above £142,500 must be approved by the Chief Secretary to the Treasury. All public bodies have a responsibility for ensuring value for money for the taxpayer, including over decisions on relating to individuals pay.
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the Funding for Lending Scheme on the lending market in (a) Southend and (b) England and Wales; and if he will make a statement.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Funding for Lending Scheme (FLS) provides funding to banks and building societies for an extended period, with both the price and quantity of funding provided linked to their lending performance. There is no mechanical link between funding drawn from the scheme and lending activity in any particular nation, region or city. The decision on where, how much and to whom to lend remains a commercial decision for the bank or building society concerned. More generally, the FLS has been successful in helping to reduce bank funding costs to historic lows; and in providing strong incentives for participants to make loans cheaper and more easily available.
Ministers meet with various stakeholders to discuss a broad range of issues. It is not appropriate to reveal the detail of these discussions or to release any information exchanged which may pertain to the FLS. Barclays participated in the first phase of the FLS, which ran until January 2014, but are not participating in the Scheme’s extension. Barclays’ FLS data is publically available on the Bank of England’s website: http://www.bankofengland.co.uk/markets/Pages/FLS/default.aspx
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what contribution has been made by Barclays Bank to the Funding for Lending Scheme; and if he will make a statement.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Funding for Lending Scheme (FLS) provides funding to banks and building societies for an extended period, with both the price and quantity of funding provided linked to their lending performance. There is no mechanical link between funding drawn from the scheme and lending activity in any particular nation, region or city. The decision on where, how much and to whom to lend remains a commercial decision for the bank or building society concerned. More generally, the FLS has been successful in helping to reduce bank funding costs to historic lows; and in providing strong incentives for participants to make loans cheaper and more easily available.
Ministers meet with various stakeholders to discuss a broad range of issues. It is not appropriate to reveal the detail of these discussions or to release any information exchanged which may pertain to the FLS. Barclays participated in the first phase of the FLS, which ran until January 2014, but are not participating in the Scheme’s extension. Barclays’ FLS data is publically available on the Bank of England’s website: http://www.bankofengland.co.uk/markets/Pages/FLS/default.aspx
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what recent discussions he had with Barclays Bank on the Funding for Lending Scheme; if he will place in the Library all material provided by (a) his Department to Barclays Bank and (b) Barclays Bank to his Department on that scheme; and if he will make a statement.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Funding for Lending Scheme (FLS) provides funding to banks and building societies for an extended period, with both the price and quantity of funding provided linked to their lending performance. There is no mechanical link between funding drawn from the scheme and lending activity in any particular nation, region or city. The decision on where, how much and to whom to lend remains a commercial decision for the bank or building society concerned. More generally, the FLS has been successful in helping to reduce bank funding costs to historic lows; and in providing strong incentives for participants to make loans cheaper and more easily available.
Ministers meet with various stakeholders to discuss a broad range of issues. It is not appropriate to reveal the detail of these discussions or to release any information exchanged which may pertain to the FLS. Barclays participated in the first phase of the FLS, which ran until January 2014, but are not participating in the Scheme’s extension. Barclays’ FLS data is publically available on the Bank of England’s website: http://www.bankofengland.co.uk/markets/Pages/FLS/default.aspx
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many treat-official letters were dealt with by his Department about Barclays Bank in each month since January 2011; and if he will make a statement.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The information requested could only be obtained at a disproportionate cost
Asked by: David Amess (Conservative - Southend West)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many letters were sent to his Department by (a) hon. Members and (b) Members of the House of Lords about Barclays Bank, in each month since January 2011; and if he will make a statement.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The information requested could only be obtained at a disproportionate cost