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Speech in Commons Chamber - Mon 30 Sep 2019
No-deal Brexit: Short Positions against the Pound

"Is not the implication of the Minister’s first answer that the authorities would allow the currency to fall indefinitely, without intervention, if that is where the market leads?..."
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Written Question
Pensions: Public Sector
Monday 1st July 2019

Asked by: Vince Cable (Liberal Democrat - Twickenham)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps the Government has taken to implement its response to the Indexation and equalisation of the Guaranteed Minimum Pension in public service pension schemes consultation for people reaching state pension age after December 2018.

Answered by Elizabeth Truss

The Government has implemented the commitment made in the January 2018 GMP equalisation and indexation consultation response to continue to index the total public service pension, including the GMP, for public servants who reach State Pension age on or after 6 December 2018 and before 6 April 2021.


Speech in Commons Chamber - Tue 09 Apr 2019
Oral Answers to Questions

"Does the Treasury acknowledge the wisdom in the letter that the Engineering Employers’ Federation, which represents 20,000 companies and 1 million workers, sent to the Prime Minister yesterday? It spoke of the renaissance of manufacturing in the earlier part of the decade, but is now expressing despair and is asking …..."
Vince Cable - View Speech

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Speech in Commons Chamber - Wed 13 Mar 2019
Spring Statement

"I am trying to find something positive to say about a rather less than earth-shattering event, but I do welcome the support for industrial strategy and innovation. I also welcome the Furman report. However, does it not rather give the game away that global monopoly abuse is being referred to …..."
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Speech in Commons Chamber - Tue 05 Mar 2019
Oral Answers to Questions

"Britain is now a world leader in financial transparency and dealing with money laundering owing to the public register of beneficial ownership. What action do the Government propose to take to stop those standards being undermined by Crown dependencies, which rely on the British passport and British defence protection, but …..."
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Speech in Commons Chamber - Wed 20 Feb 2019
Leaving the EU: Economic Impact of Proposed Deal

"Brexit uncertainty is one of several factors contributing to the crisis in the car industry, which previous Governments—Conservative, Labour and coalition—did so much to promote. What assurances have the Government had from Toyota, BMW and Vauxhall that they are not going to follow the pattern of disinvestment that we are …..."
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Written Question
Treasury: Brexit
Wednesday 6th February 2019

Asked by: Vince Cable (Liberal Democrat - Twickenham)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 16 January 2019 to Question 207546 on Treasury: Brexit, how much of the £60 million allocated to his Department for Brexit preparations in 2018-19 and 2019-20 has been allocated to preparing for the UK leaving the EU without a deal.

Answered by Elizabeth Truss

HM Treasury has allocated over £4.2 billion of additional funding to departments and the Devolved Administrations for EU exit preparations so far. This breaks down as:

  • £412m of additional funding over the spending review period for the Department for Exiting the European Union, Department for International Trade and the Foreign & Commonwealth Office at Autumn Statement 2016.

  • £286m of additional funding for 17/18 (a full breakdown of which can be found in Supplementary Estimates 17/18: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/679738/PU2137_Supplementary_estimates_web.pdf.)

  • Over £1.5bn of additional funding for 18/19. A full breakdown of the allocations can be found in the Chief Secretary’s Written Ministerial Statement, HCWS540, laid on the 13th March (https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-03-13/HCWS540/)

  • Over £2bn of additional funding for 19/20. A full breakdown of the allocations can be found in the Chief Secretary’s Written Ministerial Statement, HCWS1205, laid on the 18th December (https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-12-18/HCWS1205/)

HM Treasury was allocated £24.8m for 2018/19 and £35m for 2019/20, which included Arm’s Length Bodies (ALBs).


Speech in Commons Chamber - Tue 29 Jan 2019
Oral Answers to Questions

"The Chancellor has rightly made very clear his determination to avoid a no-deal Brexit. How in practice does the Treasury distinguish between those no-deal preparations that have enduring value for money and those that will have been wasted in the event that he is successful?..."
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Written Question
Treasury: Brexit
Wednesday 16th January 2019

Asked by: Vince Cable (Liberal Democrat - Twickenham)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how much money from the public purse has been (a) spent and (b) allocated for preparations for the UK leaving the EU without a deal to date; how much of that funding has been made by way of ministerial direction; and for what functions that funding has been allocated.

Answered by Elizabeth Truss

HM Treasury has allocated over £4.2 billion of additional funding to departments and the Devolved Administrations for EU exit preparations so far. This breaks down as:

  • £412m of additional funding over the spending review period for the Department for Exiting the European Union, Department for International Trade and the Foreign & Commonwealth Office at Autumn Statement 2016.

  • £286m of additional funding for 17/18 (a full breakdown of which can be found in Supplementary Estimates 17/18: https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/679738/PU2137_Supplementary_estimates_web.pdf.)

  • Over £1.5bn of additional funding for 18/19. A full breakdown of the allocations can be found in the Chief Secretary’s Written Ministerial Statement, HCWS540, laid on the 13th March (https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-03-13/HCWS540/)

  • Over £2bn of additional funding for 19/20. A full breakdown of the allocations can be found in the Chief Secretary’s Written Ministerial Statement, HCWS1205, laid on the 18th December (https://www.parliament.uk/business/publications/written-questions-answers-statements/written-statement/Commons/2018-12-18/HCWS1205/)

This funding is in addition to departments efforts to reprioritise from business as usual toward preparations for the UK’s departure from the EU. As such, departments are best placed to provide an estimate of spend to date. HM Treasury requires departments to achieve value for money as part of receiving these additional funds, in line with the guidance set out in Managing Public Money. Two ministerial directions were made in relation to EU Exit in 2018 – by Defra and DfT. This is publicly available here researchbriefings.files.parliament.uk/documents/CBP-8412/CBP-8412.pdf. The Treasury does not centrally hold records for each direction, further information should be requested from the relevant departments.


Speech in Commons Chamber - Tue 08 Jan 2019
Finance (No. 3) Bill

"rose—..."
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