Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much Financial Transactions Capital funding Northern Ireland Government Departments have (a) requested and (b) received since the inception of that scheme in 2012-13.
Answered by Rishi Sunak - Prime Minister, First Lord of the Treasury, Minister for the Civil Service, and Minister for the Union
The Treasury sets the Northern Ireland administration’s overall Financial Transaction Capital budget through the normal operation of the Barnett formula.
The annual Financial Transaction Capital budgets of the Northern Ireland administration and total Financial Transaction Capital returned to HM Treasury by the Northern Ireland administration for the period 2012-13 to 2020-21 is set out in the table:
(£m) | Financial Transaction Capital budgets | Financial Transaction Capital returned to HMT |
2012-13 | 11.8 | 0.0 |
2013-14 | 46.8 | 0.0 |
2014-15 | 62.8 | 0.0 |
2015-16 | 129.0 | 0.0 |
2016-17 | 59.2 | 34.5 |
2017-18 | 166.9 | 109.4 |
2018-19 | 182.2 | 171.9 |
2019-20 | 192.4 | n/a* |
2020-21 | 192.8 | n/a* |
Total | 1043.9 | 315.8 |
*Underspend data is not available until the end of each financial year.
Financial transaction funding is ring-fenced for loans or equity investments to the private sector.
The use of these Financial Transaction Capital budgets is a matter for the Northern Ireland administration. This includes the allocation of Financial Transaction Capital budgets to Northern Ireland departments, the drawdown of these allocations, approvals processes, and details of projects that have been funded.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much Financial Transactions Capital funding has been allocated to each Northern Ireland Government Department in each year since 2012-13.
Answered by Rishi Sunak - Prime Minister, First Lord of the Treasury, Minister for the Civil Service, and Minister for the Union
The Treasury sets the Northern Ireland administration’s overall Financial Transaction Capital budget through the normal operation of the Barnett formula.
The annual Financial Transaction Capital budgets of the Northern Ireland administration and total Financial Transaction Capital returned to HM Treasury by the Northern Ireland administration for the period 2012-13 to 2020-21 is set out in the table:
(£m) | Financial Transaction Capital budgets | Financial Transaction Capital returned to HMT |
2012-13 | 11.8 | 0.0 |
2013-14 | 46.8 | 0.0 |
2014-15 | 62.8 | 0.0 |
2015-16 | 129.0 | 0.0 |
2016-17 | 59.2 | 34.5 |
2017-18 | 166.9 | 109.4 |
2018-19 | 182.2 | 171.9 |
2019-20 | 192.4 | n/a* |
2020-21 | 192.8 | n/a* |
Total | 1043.9 | 315.8 |
*Underspend data is not available until the end of each financial year.
Financial transaction funding is ring-fenced for loans or equity investments to the private sector.
The use of these Financial Transaction Capital budgets is a matter for the Northern Ireland administration. This includes the allocation of Financial Transaction Capital budgets to Northern Ireland departments, the drawdown of these allocations, approvals processes, and details of projects that have been funded.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much Financial Transactions Capital funding Northern Ireland Government Departments have returned to his Department in each year since 2012-13.
Answered by Rishi Sunak - Prime Minister, First Lord of the Treasury, Minister for the Civil Service, and Minister for the Union
The Treasury sets the Northern Ireland administration’s overall Financial Transaction Capital budget through the normal operation of the Barnett formula.
The annual Financial Transaction Capital budgets of the Northern Ireland administration and total Financial Transaction Capital returned to HM Treasury by the Northern Ireland administration for the period 2012-13 to 2020-21 is set out in the table:
(£m) | Financial Transaction Capital budgets | Financial Transaction Capital returned to HMT |
2012-13 | 11.8 | 0.0 |
2013-14 | 46.8 | 0.0 |
2014-15 | 62.8 | 0.0 |
2015-16 | 129.0 | 0.0 |
2016-17 | 59.2 | 34.5 |
2017-18 | 166.9 | 109.4 |
2018-19 | 182.2 | 171.9 |
2019-20 | 192.4 | n/a* |
2020-21 | 192.8 | n/a* |
Total | 1043.9 | 315.8 |
*Underspend data is not available until the end of each financial year.
Financial transaction funding is ring-fenced for loans or equity investments to the private sector.
The use of these Financial Transaction Capital budgets is a matter for the Northern Ireland administration. This includes the allocation of Financial Transaction Capital budgets to Northern Ireland departments, the drawdown of these allocations, approvals processes, and details of projects that have been funded.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to tackle recent problems with the issuing of National Insurance numbers to 16 year-olds.
Answered by Jesse Norman
Following a change in the way in which HMRC issues NI number letters to young people, there were some delays in issuing these automated letters. HMRC is now working to send individuals their letters.
Anyone who has not received their automated NINo letter and needs one, can contact HMRC’s helpline on 0300 200 3500 to arrange for one to be issued.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many 16-year-olds have been affected by HMRC's technical problems that resulted in the non-issuing of National Insurance numbers.
Answered by Jesse Norman
HMRC estimates that up to 221,000 16 years may have experienced a delay in receiving their automated NINo notification letter. Anyone who has not received their National Insurance number letter and requires one, can contact HMRC’s helpline on 0300 200 3500 to arrange for one to be issued.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what support his Department provides to 16 year-olds who are unable to obtain employment because they had not received their National Insurance number.
Answered by Jesse Norman
Individuals, including 16 year olds, are able to start work or apprenticeships without a National Insurance number (NINo) and advise their employer of it once they receive it. Anyone who has not received their NINo letter and needs one, can contact HMRC’s helpline on 0300 200 3500 to arrange for one to be issued.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to tackle the uncertainty of cross-border insurance arrangements in the event that the UK leaves the EU without a deal.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Government and the regulators have taken steps to avoid or minimise disruption to financial services, including insurance, in a no deal.
The Government has legislated for a temporary permissions regime (TPR) that will allow EEA firms, including insurers, currently passporting into the UK to continue operating in the UK for up to three years after exit, while they apply for full authorisation from UK regulators and complete any necessary restructuring. The statutory instrument that implements the TPR was made law in November 2018.
Furthermore, the Government and the regulators have taken steps to ensure that any EEA contractual obligations with UK customers, including with insurance policyholders, that are not captured by the TPR can continue to be met by legislating for a financial services contracts regime (FSCR). The statutory instrument that implements the FSCR was laid in Parliament in January 2019 and has been approved by both Houses of Parliament.
However, the UK cannot unilaterally determine the conditions for UK firms' future access into the EU. A number of Member States, including Ireland, have announced measures addressing cross-border provision of financial services, including insurance, from the UK into the EU. And the European Insurance and Occupational Pensions Authority (EIOPA) issued recommendations to European regulators which seek to minimize the detriment to policyholders with cross-border insurance contracts.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what his policy is on promoting the use of digital currencies; and what impact assessment has been carried out on the economic benefits of regulating that sector.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
As announced in the Fintech sector strategy in March, the government is establishing a Cryptoassets Taskforce made up of the Treasury, the Bank of England, and the Financial Conduct Authority.
The Taskforce will explore further the challenges of cryptoassets and the opportunities of the underlying distributed ledger technology in financial services, as well as assess the future response of the appropriate authorities, including around regulation.
The Taskforce will publish its final report in summer 2018.
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps his Department is taking to engage with the digital currency industry.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
As announced in the Fintech sector strategy in March, the government is establishing a Cryptoassets Taskforce to explore further the risks of cryptoassets and the potential benefits of the underlying distributed ledger technology in financial services, as well as to assess the future response of the appropriate authorities, including around regulation.
The Task Force itself will be made up of the government and the financial regulators. The government welcomes and will take into consideration the views of the digital currency industry. As part of this work, officials have begun and will continue to engage with industry.
Details of ministerial and permanent secretary meetings with external organisations are also published on a quarterly basis and are available at:
Asked by: Gavin Robinson (Democratic Unionist Party - Belfast East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 2 March 2017 to Question 65735, on Concentrix: minimum wage, how the level of average salary paid to Concentrix staff who have been transferred to HM Revenue and Customs (HMRC) via a TUPE arrangement compares with the average salary of staff already in HMRC carrying out similar jobs.
Answered by Jane Ellison
From 1 April 2017, all former Concentrix staff who transferred to HM Revenue and Customs (HMRC) under TUPE terms were offered the opportunity to transfer to HMRC terms and conditions, including pay harmonisation.