Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department is taking steps to maintain the provision of free-to-use ATMs in Portsmouth South constituency.
Answered by Bim Afolami
The government recognises that cash continues to be used by millions of people across the UK, including those who may be in vulnerable groups or who are reliant on cash as a payment method.
The government legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect free access to cash. This establishes the Financial Conduct Authority (FCA) as the lead regulator for access to cash and provides it with responsibility and powers to seek to ensure reasonable provision of free cash withdrawal and deposit facilities. This will help prevent financial exclusion for those who are reliant on access to cash.
The government published a policy statement earlier this year. This stated that consideration should be taken of the degree to which services meet local needs in relation to both business and personal use. The government’s policy statement is available at: Cash Access Policy Statement.
The FCA is currently holding a consultation on its proposed regulatory approach, ahead of this coming into effect by Q3 2024: https://www.fca.org.uk/publications/consultation-papers/cp23-29-access-cash
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to prevent financial exclusion for people reliant on access to cash.
Answered by Bim Afolami
The government recognises that cash continues to be used by millions of people across the UK, including those who may be in vulnerable groups or who are reliant on cash as a payment method.
The government legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect free access to cash. This establishes the Financial Conduct Authority (FCA) as the lead regulator for access to cash and provides it with responsibility and powers to seek to ensure reasonable provision of free cash withdrawal and deposit facilities. This will help prevent financial exclusion for those who are reliant on access to cash.
The government published a policy statement earlier this year. This stated that consideration should be taken of the degree to which services meet local needs in relation to both business and personal use. The government’s policy statement is available at: Cash Access Policy Statement.
The FCA is currently holding a consultation on its proposed regulatory approach, ahead of this coming into effect by Q3 2024: https://www.fca.org.uk/publications/consultation-papers/cp23-29-access-cash
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that small charities have access to banking services that allow the use of dual signatories.
Answered by Bim Afolami
The government recognises the importance of access to banking services for charities and community organisations. Last year, the Treasury hosted a roundtable event, bringing together lenders and representatives from bodies representing these organisations to discuss the issues these groups are facing. As a result of this roundtable, UK Finance, the banking and finance industry group, is now working with banks and sector representatives to identify any changes banks can make to simplify processes like changing signatories on accounts, and to produce guidance aimed at helping charities and community groups access and understand banking.
The government has legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect access to cash for individuals and businesses, including small charities. The government believes that all customers, wherever they live, should have appropriate access to banking and cash services. Customers can access their banking through a variety of channels, such as online, via mobile apps or over the telephone. Customers can also access their banking in-person by going to a branch, a shared banking hub or the Post Office, which allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to help improve access to in-person banking services for small charities in the South East.
Answered by Bim Afolami
The government recognises the importance of access to banking services for charities and community organisations. Last year, the Treasury hosted a roundtable event, bringing together lenders and representatives from bodies representing these organisations to discuss the issues these groups are facing. As a result of this roundtable, UK Finance, the banking and finance industry group, is now working with banks and sector representatives to identify any changes banks can make to simplify processes like changing signatories on accounts, and to produce guidance aimed at helping charities and community groups access and understand banking.
The government has legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect access to cash for individuals and businesses, including small charities. The government believes that all customers, wherever they live, should have appropriate access to banking and cash services. Customers can access their banking through a variety of channels, such as online, via mobile apps or over the telephone. Customers can also access their banking in-person by going to a branch, a shared banking hub or the Post Office, which allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of adequacy of the level of access to banking services for small charities in the South East.
Answered by Bim Afolami
The government recognises the importance of access to banking services for charities and community organisations. Last year, the Treasury hosted a roundtable event, bringing together lenders and representatives from bodies representing these organisations to discuss the issues these groups are facing. As a result of this roundtable, UK Finance, the banking and finance industry group, is now working with banks and sector representatives to identify any changes banks can make to simplify processes like changing signatories on accounts, and to produce guidance aimed at helping charities and community groups access and understand banking.
The government has legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect access to cash for individuals and businesses, including small charities. The government believes that all customers, wherever they live, should have appropriate access to banking and cash services. Customers can access their banking through a variety of channels, such as online, via mobile apps or over the telephone. Customers can also access their banking in-person by going to a branch, a shared banking hub or the Post Office, which allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department is taking steps to help support small charities to open bank accounts.
Answered by Bim Afolami
The government recognises the importance of access to banking services for charities and community organisations. Last year, the Treasury hosted a roundtable event, bringing together lenders and representatives from bodies representing these organisations to discuss the issues these groups are facing. As a result of this roundtable, UK Finance, the banking and finance industry group, is now working with banks and sector representatives to identify any changes banks can make to simplify processes like changing signatories on accounts, and to produce guidance aimed at helping charities and community groups access and understand banking.
The government has legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect access to cash for individuals and businesses, including small charities. The government believes that all customers, wherever they live, should have appropriate access to banking and cash services. Customers can access their banking through a variety of channels, such as online, via mobile apps or over the telephone. Customers can also access their banking in-person by going to a branch, a shared banking hub or the Post Office, which allows 99% of personal banking and 95% of business banking customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK.
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of trends in the levels of demand for financial and mental health support from families in Hampshire; and if he will make a statement.
Answered by John Glen
The government recognises the challenges facing households due to elevated costs of living, so took action at Spring Budget 2023 to go further to protect struggling families. This included interventions such as extending energy support by keeping the Energy Price Guarantee at £2,500 for three months from April, saving households an additional £160, ending the premium paid by over 4 million households using prepayment meters across the UK, introducing 30 hours of free childcare per week for working parents with children aged 9 months up to 3 years in England, cancelling the planned increase in fuel duty and keeping rates at current levels for the next 12 months, and increasing Draught Relief.
This is in addition to the benefits uprating and support for vulnerable households announced at the Autumn Statement. Taken together, support to households to help with higher bills is worth £94 billion, or £3,300 per household on average, across 2022-23 and 2023-24.
It is for Integrated Care Systems to plan and deliver joined up health and care services to improve the lives of people who live and work in their area, including assessments of demand for mental health support, based on the specifics needs of the local population. However, the government remains dedicated to ensuring commissioners continue to meet the Mental Health Investment Standard, with investment in NHS mental health services having increased each year from almost £11 billion in 2015/16 to £15 billion in 2021/22. Furthermore, the recently published Plan for Patients set out the Government’s intention to continue to drive progress on the NHS Long Term Plan commitments to expand and transform NHS mental health services. The NHS Long Term Plan having seen at least £2.3 billion extra funding a year for mental health services by 2023/24 – supporting an additional two million people in England to access NHS-funded mental health services.
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing the private pension annual allowance from £40,000 to £60,000 for armed forces non-contributory pensions.
Answered by Andrew Griffith - Shadow Secretary of State for Business and Trade
At Spring Budget 2023, the Government announced that it would make changes to the limits on tax-relieved pension savings, abolishing the lifetime allowance, and increasing the annual allowance from £40,000 to £60,000. This will apply to all members of registered pension schemes, including those in the Armed Forces Pension Scheme.These changes will help incentivise highly-skilled and experienced individuals from across the private and public sector, including in the Armed Forces, to remain in the labour market, which will help grow the economy and support the delivery of core public services.
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many promoters and operators of schemes subject to the Loan Charge have been prosecuted for promoting and operating those schemes.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
Promotion or operation of mass marketed tax avoidance schemes is not in and of itself a criminal offence. However, there are a range of offences which might be committed by those who promote tax avoidance schemes or advise on their use.
On that basis, to date, a number of individuals are currently under criminal investigation by HMRC for offences linked to schemes subject to the Loan Charge.
In addition to schemes subject to the Loan Charge, since 1 April 2016, more than 20 individuals have been convicted for offences relating to arrangements which have been promoted and marketed as tax avoidance, including offences related to disguised remuneration. These have resulted in over 100 years of custodial sentences, the majority of which relate to promoters.
HMRC are committed to continuing to tackle promoters and operators of tax avoidance schemes. Spring Budget announced a consultation to strengthen the deterrent further by introducing a new criminal offence to make it abundantly clear promoters must stop and, building on a package of recent reforms, to ensure directors can be disqualified from companies which promote avoidance.
Asked by: Stephen Morgan (Labour - Portsmouth South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of requesting a new independent review of the Loan Charge.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
The 2019 Independent Loan Charge Review drew upon all the available evidence and expert advice to consider the appropriateness of the Loan Charge, and its impact on individuals, reflecting the main concerns that had been raised by MPs and campaigners. The Government accepted all but one of the twenty recommendations in the review.
There are no plans for a further independent review.