Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to protect Ukraine from Russian litigation in English courts on the payment of bonds.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The UK judiciary is independent of the UK government and will make this ruling based on the arguments made before it.
In response to Russia’s invasion of Ukraine we have announced an unprecedented package of sanctions to cut off the funding for Putin’s war machine.
Our sanctions are working, including those directed at the Central Bank of Russia and Russia’s foreign currency reserves, of which around 60% are frozen globally.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions he has had with his G20 counterparts on the effectiveness of the Common Framework process; and what assessment he has made of Zambia application under that framework.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Common Framework, agreed between the G20 and the Paris Club, represents the first time that all G20 creditors and the Paris Club have committed to work together to coordinate debt treatments. The Framework is intended to deliver a longer-term, more sustainable approach to dealing with debt vulnerabilities for countries that request it. Progress in implementing the Common Framework has been a regular feature in the Chancellor’s discussions in the G20 and in its February 2022 communique, the G20 reiterated its commitment to step up efforts to implement the Framework in a timely, orderly and coordinated manner.
Zambia is one of three countries – along with Chad and Ethiopia - to have requested the Common Framework. Zambia reached a Staff-Level Agreement with the IMF in December, marking a step forward. At Spring Meetings, the IMF managing director indicated that China had agreed to join the creditor committee for Zambia. As a creditor to Zambia, it is a priority to work with our G20 partners to ensure swift progress on the debt treatment.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department will introduce further targeted affordability funding to help address the cost of living pressures.
Answered by Simon Clarke
The government appreciates the challenges people are facing as a result of how the rising cost of living is making life harder for people. These are global challenges however, as set out in the Spring Statement, the government is providing support worth over £22 billion this financial year to help families with these pressures.
We stand ready to take further action as the pressures the UK faces become clearer.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the number of people who will become bankrupt as a result of paying loan charge payments.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
I refer the Hon Member to the answers that were given to the Hon Member for Hemsworth on 9 December 2021 to UIN 87576 and UIN 87577.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many people affected by the loan charge has Her Majesty's Revenue and Customs referred to suicide prevention organisations since that charge was introduced.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
Any loss of life is a tragedy, and my thoughts are with the families of those affected. The Government takes concerns about the wellbeing of all taxpayers seriously and recognises that the Loan Charge can add significant pressures for some taxpayers.
Individuals are supported on a case-by-case basis and all HMRC call handlers and case workers are trained to identify taxpayers who might need extra help, including those in distress. The support HMRC provides could be in relation to their tax affairs, or by signposting to specialist voluntary and community organisations, such as Mind or Samaritans. However, we do not keep a composite record of taxpayers that HMRC has referred to these specialist organisations.
The Government is working with HMRC to consider what additional specialised support could be provided to taxpayers who need extra help.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when he plans to bring forward legislative proposals to protect access to cash.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.
As part of the Financial Services Act 2021, the Government made legislative changes to support the widespread offering of cashback without a purchase by shops and other businesses.
From 1 July to 23 September last year, the Government held the Access to Cash Consultation on further proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. The Government’s proposals intend to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities.
The Government received responses to the consultation from a broad range of respondents, including individuals, businesses, and charities. The Government has carefully considered responses to the consultation and will set out next steps in due course.
Asked by: Hywel Williams (Plaid Cymru - Arfon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what progress he has made on the findings of the Access to Cash consultation which closed on 23 September 2021.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Government recognises that cash remains an important part of daily life for millions of people across the UK, and remains committed to legislating to protect access to cash.
As part of the Financial Services Act 2021, the Government made legislative changes to support the widespread offering of cashback without a purchase by shops and other businesses.
From 1 July to 23 September last year, the Government held the Access to Cash Consultation on further proposals for new laws to make sure people only need to travel a reasonable distance to pay in or take out cash. The Government’s proposals intend to support the continued use of cash in people’s daily lives and help to enable local businesses to continue accepting cash by ensuring they can access deposit facilities.
The Government received responses to the consultation from a broad range of respondents, including individuals, businesses, and charities. The Government has carefully considered responses to the consultation and will set out next steps in due course.