Asked by: Mark Williams (Liberal Democrat - Ceredigion)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what plans he has to update the work of the Holtham Commission on funding for Wales.
Answered by Danny Alexander
The Secretary of State for Wales has announced a process to consider the Welsh devolution settlement, with the aim of reaching cross-party agreement by 1 March 2015.
Building on the joint review process agreed in October 2012 and undertaken as part of the Spending Round in 2013, the UK and Welsh governments have also agreed to revisit the arrangements for considering relative funding in light of the powers contained in the Wales Bill.
Asked by: Mark Williams (Liberal Democrat - Ceredigion)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the need to provide access to his Department's services in Welsh.
Answered by Andrea Leadsom
The Treasury is fully committed to providing government services in the Welsh language where there is demand for them. As part of this the Treasury can provide translation of documents and of content we publish on an ad hoc basis if requests are received.
Asked by: Mark Williams (Liberal Democrat - Ceredigion)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, with reference to the report by Nevin Associates Ltd, entitled The fiscal impact of lower VAT rates on visitor accommodation and attractions in the United Kingdom: Final Report, published in July 2014, if he will make an assessment of the implications for his policies of the conclusion on page 29 of that report that a reduction in VAT on tourism would generate a positive net present value of £3.9 billion for his Department over the course of 10 years and would create 123,000 jobs in the tourism sector.
Answered by David Gauke
The Government does not always agree with the conclusions of the reports it receives, nor the assumptions underlying them. I refer the Hon gentlemen to my comments during the Westminster Hall debate on 11 February 2014.
Asked by: Mark Williams (Liberal Democrat - Ceredigion)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 7 July 2014, Official Report, column 121W, on gold prices, if he will request that the review into the operation of the gold market consider the appropriateness of allowing and encouraging gold investments within ISAs.
Answered by Andrea Leadsom
The Fair and Effective Markets Review, which has been tasked with considering how to raise standards in fixed income, currency and commodity markets, has been in operation since June 2014. The terms of reference for the FEMR can be found at: http://www.bankofengland.co.uk/publications/Documents/news/2014/tor.pdf
At this time, the Government has no plans to amend the terms of reference.
Asked by: Mark Williams (Liberal Democrat - Ceredigion)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, with reference to the Answer of 24 February 2014, Official Report, column 29W, on gold: prices, and the academic draft report of February 2014, by Professor Rosa Abrantes, Adviser to the EU and International Organisation of Securities Commission on Financial Benchmarks, entitled Gold Price Fix, and her reports of systemic manipulation of the twice daily gold fix over several years, if he will make an assessment of the effect of (a) US regulatory authorities' interventions in the gold market and (b) such interventions on gold market-related securities in ISAs.
Answered by Andrea Leadsom
The Government monitors all aspects of the gold market. Although no specific assessment of US regulatory interventions has been made, the Government is committed to taking action, whenever necessary, to ensure the efficient functioning of these essential markets. In order to raise standards of conduct in the financial system the Government has launched a joint review by the Treasury, the Bank of England and the Financial Conduct Authority into the way wholesale financial markets operate, including commodity markets.
Asked by: Mark Williams (Liberal Democrat - Ceredigion)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, with reference to the Answer of 24 February 2014, Official Report, column 29W, on gold: prices, and to the Financial Conduct Authority's decision to fine Barclays Bank for gold fix manipulation, if he will make an assessment of the effect of (a) US regulatory authorities' interventions in the gold market and (b) such interventions on gold market-related securities in ISAs.
Answered by Andrea Leadsom
The Government monitors all aspects of the gold market. Although no specific assessment of US regulatory interventions has been made, the Government is committed to taking action, whenever necessary, to ensure the efficient functioning of these essential markets. In order to raise standards of conduct in the financial system the Government has launched a joint review by the Treasury, the Bank of England and the Financial Conduct Authority into the way wholesale financial markets operate, including commodity markets.