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Written Question
Defibrillators: VAT Exemptions
Tuesday 21st November 2023

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how his Department estimates the potential cost to the public purse of removing VAT on (a) defibrillators and (b) other products.

Answered by Nigel Huddleston - Financial Secretary (HM Treasury)

The cost of relieving VAT on defibrillators is uncertain owing to the lack of data on purchases of defibrillators and associated apparatus, and on purchasers who are able to reclaim the VAT on these purchases. Businesses are not required to provide information at a product level in their VAT returns, as this would impose an excessive administrative burden; HMRC does not therefore hold this data. All taxes are kept under review; any policy measure would be costed in the usual way.


Written Question
Energy Bills Rebate
Friday 17th March 2023

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what plans his Department has to target energy support for people living with (a) arthritis and (b) other medical conditions.

Answered by James Cartlidge - Minister of State (Ministry of Defence)

At Autumn Statement 2022, the Government announced that it will provide a further Disability Cost of Living Payment of £150 in 2023/24. This was on top of the previous one-off Disability Cost of Living Payment, worth £150, announced in May 2022.

Cost of Living Payments, available to those on means-tested benefits, are also designed to support those on low incomes with the rising cost of living, with a £650 payment announced in May and a £900 payment announced at Autumn Statement 2022.

Disabled people and those with long-term health conditions will also benefit from other forms of Cost of Living support. This includes the Energy Price Guarantee, Energy Bills Support Scheme and the Council Tax rebate.


Written Question
Business Banking Resolution Service
Monday 30th January 2023

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has had discussions with banks on the provision of a service to deal with unresolved business banking complaints for SMEs following the planned closure of the Business Banking Resolution Service in December 2023.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

The Business Banking Resolution Service (BBRS) is an independent non-governmental body that does not receive any public funding. The BBRS, which launched on 15 February 2021, offers a free, independent service designed to settle unresolved historical complaints that are not eligible for the Financial Ombudsman Service (FOS), and new complaints from SMEs which are too large to be eligible for the FOS. Over 99% of UK businesses can access independent dispute resolution either through the FOS or the BBRS.

The Government has always been clear that the independence of the BBRS is vital, and as such it is not appropriate for the Government to comment on its future. According to the timelines agreed by the BBRS when it was set up, the scheme for historical complaints will close on 14 February 2023, while the contemporary scheme for cases from large SMEs is due to close at the end of 2023.

Ministers and officials continue to monitor BBRS discussions closely, and we remain focused on ensuring SMEs have access to redress now and in the future.


Written Question
Business Banking Resolution Service
Monday 30th January 2023

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department plans to put in place a provision to deal with unresolved business banking complaints relating to SMEs following the planned closure of the Business Banking Resolution scheme in December 2023.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

The Business Banking Resolution Service (BBRS) is an independent non-governmental body that does not receive any public funding. The BBRS, which launched on 15 February 2021, offers a free, independent service designed to settle unresolved historical complaints that are not eligible for the Financial Ombudsman Service (FOS), and new complaints from SMEs which are too large to be eligible for the FOS. Over 99% of UK businesses can access independent dispute resolution either through the FOS or the BBRS.

The Government has always been clear that the independence of the BBRS is vital, and as such it is not appropriate for the Government to comment on its future. According to the timelines agreed by the BBRS when it was set up, the scheme for historical complaints will close on 14 February 2023, while the contemporary scheme for cases from large SMEs is due to close at the end of 2023.

Ministers and officials continue to monitor BBRS discussions closely, and we remain focused on ensuring SMEs have access to redress now and in the future.


Written Question
Insurance Companies: Directors
Monday 5th September 2022

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment his Department has made of the adequacy of measures taken to ensure that directors of insurance companies are fit and proper.

Answered by Richard Fuller

The Financial Conduct Authority and Prudential Regulation Authority are independent bodies responsible for the regulation and supervision of the financial services industry. They have set out rules determining the assessment of the fitness and propriety of individuals applying to become an approved person within an insurance company, including director, and are responsible for the monitoring of adherence to these rules.

The government has no plans to change these arrangements.


Written Question
Insurance Companies
Monday 5th September 2022

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of taking steps to deter the practice of assignment of benefit only collection of premiums and avoiding liabilities by acquiring insurance companies.

Answered by Richard Fuller

The Financial Conduct Authority monitors the risk of firms’ non-compliance with its rules by maintaining regular and open dialogue with consumer organisations, trade associations, and other sources such as complaints information.

The Financial Conduct Authority has not been made aware of widespread issues relating to assignment of benefits, and the Government does not currently plan on taking action.


Written Question
Lamp Insurance Company: Insolvency
Monday 5th September 2022

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an estimate of the cost to the public purse of liabilities as a result of the liquidation of Lamp Insurance Company Limited being covered by the Financial Services Compensation Scheme.

Answered by Richard Fuller

HM Treasury does not routinely provide estimates relating to Financial Services Compensation Scheme (FSCS) costs in relation to individual cases.

The FSCS is funded by the financial services industry and is operationally independent of government. Firms that are authorised by the Financial Conduct Authority and the Prudential Regulation Authority pay an annual levy to fund FSCS compensation and management expenses. Some of the funding also comes through recoveries from the estates of failed firms and any third parties that might be liable for, or connected to, the compensation claim. This can reduce the cost of the levy to the wider industry. The FSCS also has in place a revolving credit facility with a consortium of private lenders from which it can drawdown at short notice.

In the unlikely event the FSCS exhausts its available resources, it may request a loan from the National Loans Fund. This means public funds are only used to fund FSCS compensation in a very limited set of special circumstances.


Written Question
Insurance Companies: Gibraltar
Monday 5th September 2022

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what arrangements exist between authorities in the UK and Gibraltar for cooperation when investigating failed insurance companies at a cost to the public purse.

Answered by Richard Fuller

The Government is committed to maintaining high standards of consumer protection in UK financial services. Authorities within the UK and Gibraltar work together closely, including when insurance firms fail. The current arrangements for cooperation between the financial services regulators in Gibraltar and the UK are set out in a Memorandum of Understanding available here: https://www.fca.org.uk/publication/mou/fsa-mou-gibraltar.pdf.

The forthcoming Gibraltar Authorisation Regime will be a new permanent legislative and institutional framework. It will govern UK market access for certain Gibraltar-based financial services firms, including insurers, and will cement arrangements for insolvency and resolution requirements.


Written Question
Financial Markets: Credit
Thursday 21st July 2022

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the level of debt that is devalued on the secondary debt market in consumer credit each year.

Answered by Richard Fuller

HM Treasury does not hold data in relation to the secondary debt market trading consumer credit. HM Treasury has also not made estimates of the profits that debt purchasers make by buying devalued consumer debt or of the level of debt that is devalued on the secondary debt market in consumer credit.


Written Question
Financial Markets: Credit
Thursday 21st July 2022

Asked by: Peter Dowd (Labour - Bootle)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has made an estimate of the amount of money that debt purchasers make by buying devalued consumer debt on the secondary market and seeking to collect it from people in debt.

Answered by Richard Fuller

HM Treasury does not hold data in relation to the secondary debt market trading consumer credit. HM Treasury has also not made estimates of the profits that debt purchasers make by buying devalued consumer debt or of the level of debt that is devalued on the secondary debt market in consumer credit.