Asked by: Greg Knight (Conservative - East Yorkshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how much money has been raised by average speed cameras, installed on a temporary basis because of roadworks on motorways in England during the last 12 months for which figures are available.
Answered by Elizabeth Truss
All revenue generated from speed cameras – through fixed penalty notices issued by local police forces or speeding fines issued by the courts are transferred into the Consolidated Fund, which is regarded as central Government’s current account. Fines are considered a tax-type revenue and Government departments and their agencies are legally obliged to surrender these receipts to the Treasury. Revenue surrendered to this account is usually transferred in bulk and not ring-fenced for any specific area of government spending but will be used towards general government expenditure. This includes Supply payments to government departments which are drawn from the Consolidated Fund in line with amounts voted by Parliament to finance their net expenditure. As a result, we are unable to provide the information you have requested.
Asked by: Greg Knight (Conservative - East Yorkshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of international efforts to regulate crypto-currencies; and whether his Department has any plans to regulate crypto-currencies in the UK.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
The Government has not made a formal assessment of the regulation of cryptocurrencies in other countries, though it is aware that industry has done so (for example https://bravenewcoin.com/news/icos-and-cryptocurrencies-a-rough-guide-to-global-regulation/) and, as with all policy, continues to monitor developments.
The Government is currently negotiating amendments to the 4th Anti-Money Laundering Directive that we expect to bring virtual currency exchange platforms and custodian wallet providers into the scope of Anti-Money Laundering and Counter-Terrorist Financing regulation. This will require such firms to conduct due diligence upon their customers, with their activities being overseen by national competent authorities for these areas. The government supports the intention behind these amendments. We expect these negotiations to conclude at EU level in late 2017/early 2018.