Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, whether he plans to publish the results of the research on foreign exchange; whether those results will be published with the Government response to that consultation; whether he plans to use those results to inform amendments to the draft Payment Services Regulations 2017; and if he will make a statement.

The Government does not intend to publish the research it conducted earlier in the year on the effects of transparency in overseas money transfers (involving foreign exchange) on consumer decisions at this point in time as it relates to the formulation and development of ongoing government policy.

However, the research will help to inform the Government’s response to its consultation on the implementation of the second Payment Services Directive, which will be published shortly. The Government will need to weigh up the benefits of requiring greater transparency with other considerations, such as the Government’s approach to implementing maximum harmonising Directives.