Asked by: Paul Williams (Labour - Stockton South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the effect of changes in the value of the pound against the Euro on UK holidaymakers between the months of July and September 2019.
Answered by John Glen
It is not appropriate for the government to comment on specific currency market movements.
The government accepts the market-based price of sterling and does not have a view on what level this should be. Moreover, speculating on the value of sterling could hurt confidence in our macroeconomic framework.
It is important to remember that the UK’s macroeconomic framework is based on an inflation target, and it is for the independent Monetary Policy Committee to set monetary policy to meet this target.
Asked by: Paul Williams (Labour - Stockton South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential effect on house prices on Teesside of the UK leaving the EU without a withdrawal agreement.
Answered by John Glen
The Office for National Statistics (ONS) publishes monthly data on house prices by region. We have been very clear that we are focused on getting a deal, and hope that the EU will agree to negotiate changes to the withdrawal agreement. The fundamentals of the British economy are strong – wages are growing, employment is at a record high and the unemployment rate is at a historic low. Furthermore, we will continue to closely monitor any developments in economic risks to firms, sectors, and regions.
The Government and the Bank of England have the policy tools available, and are ready to deliver the necessary response to a No Deal exit.
Asked by: Paul Williams (Labour - Stockton South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect on the exchange rate of Sterling with the Euro in the event that the UK leaves the EU without a withdrawal agreement.
Answered by John Glen
It is not appropriate for the government to comment on specific currency market movements.
The government accepts the market-based price of sterling and does not have a view on what level this should be. Moreover, speculating on the value of sterling could hurt confidence in our macroeconomic framework.
It is important to remember that the UK’s macroeconomic framework is based on an inflation target, and it is for the independent Monetary Policy Committee to set monetary policy to meet this target.
Asked by: Paul Williams (Labour - Stockton South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what meetings his Department has had with HMRC George Stephenson House in Thornaby on preparations for the UK leaving the EU without a withdrawal agreement.
Answered by Jesse Norman - Shadow Leader of the House of Commons
HM Treasury and HMRC are working closely to prepare for the possibility that the UK leaves the EU without a withdrawal agreement in order to keep goods moving and avoid delays at the border. Regarding specific meetings, it has been the practice of successive governments not to provide details of internal meetings.
Asked by: Paul Williams (Labour - Stockton South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Government commitment to take a cross-departmental approach to supporting children in the early years, if he will invest in evidence-based parenting support in the forthcoming Spending Review.
Answered by Elizabeth Truss
All further decisions on public spending will be taken at the Spending Review this year, when the Chancellor will set out his approach for the future and will ensure that policy issues are considered across departmental boundaries.