Asked by: Mark Pritchard (Conservative - The Wrekin)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what recent steps he has taken to prevent banks within the UK banking system being used for funding domestic or international terrorism.
Answered by Andrea Leadsom
The UK has a comprehensive anti-money laundering and counter financing of terrorism regime and the Government is committed to ensuring our financial system is a hostile environment for illicit finances.
The international money laundering and counter financing of terrorism standards are incorporated into various pieces of UK law, predominantly the Money Laundering Regulations (2007) and the Proceeds of Crime Act (2002) and also the Terrorism Act 2000. All banks within the UK banking system must comply with that legislation.
The Treasury is also responsible for implementing financial sanctions in the UK and for making designations under the Terrorist Asset Freezing etc. Act 2010. We are committed to ensuring that our terrorist asset freezing powers continue to be used and administered in an effective and proportionate way to help protect the public from the threat of terrorism.
Asked by: Mark Pritchard (Conservative - The Wrekin)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what plans he has to extend Sharia financing within the UK banking system.
Answered by Andrea Leadsom
There are currently no plans to extend shari'ah compliant financing into the UK banking system, but the Government will continue to work with the financial services industry to broaden the range of shari'ah compliant products and services available in the UK, and encourage the industry to play its part. The Government welcomes, for example, the recent creation of an Islamic Account by Lloyds Bank. This account allows customers who cannot receive credit or debit interest due to their religious beliefs to hold a bank account in the UK and is available to all UK citizens regardless of background or faith.
Furthermore, The Bank of England has recently announced that it will be commencing work to assess the feasibility of establishing a shari'ah compliant facility next year, which the Government welcomes. Any such facility will help Islamic banks in the UK to better meet their obligations under the liquidity rules, bringing Islamic finance further into the mainstream.
Asked by: Mark Pritchard (Conservative - The Wrekin)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what plans his Department has to change the tax-free threshold for the Rent a Room scheme.
Answered by David Gauke
The Rent a Room relief ensures that those who are letting out a room in a main residence for residential purposes can receive up to £4,250 tax free. This is in addition to the personal allowance, which is £10,000 in the current tax year.
There are no plans to change the threshold for the Rent a Room scheme. The Government keeps all reliefs and allowances under review.
Asked by: Mark Pritchard (Conservative - The Wrekin)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what plans his Department has for future funding for a new M6 South road link to the M54.
Answered by Danny Alexander
In last year’s Spending Round I provided the Highways Agency with a long term funding settlement that committed to treble the level of investment in major enhancements to our strategic road network by 2020-21. This marks the start of the biggest programme of investment in our roads since the 1970’s.
As part of that package I committed to fund the M54 to M6/M6 Toll Link Road subject to finalising options and agreement being reached on developer contributions. The Highways Agency are progressing this work and will update you on its progress in due course.