Asked by: Ben Wallace (Conservative - Wyre and Preston North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, by how much (a) Resource Departmental Expenditure Limits and (b) Capital Departmental Expenditure Limits will be reduced following the cancellation of the northern leg of HS2 in each affected Department; and if he will publish in which Departments these savings will be made.
Answered by Laura Trott - Chief Secretary to the Treasury
The government has committed to re-invest every penny that is saved from the cancelled phases of HS2 into alternative transport projects through Network North.
This means that every penny of the £19.8 billion committed to the Northern leg of HS2 will be reinvested in the North; every penny of the £9.6 billion committed to the Midlands leg will be reinvested in the Midlands; and the full £6.5 billion saved through our rescoped approach at Euston will be spread across every other region in the country.
Departmental Expenditure Limits in 2024-25 are published at the relevant Estimates in the usual way. Departmental budgets beyond 2024-25 will be set as part of the next Spending Review.
Asked by: Jonathan Ashworth (Labour (Co-op) - Leicester South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Transforming for a digital future: 2022 to 2025 roadmap for digital and data, updated on 29 February 2024, what steps his Department has taken to mitigate the risks of red-rated legacy IT systems.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
I refer the hon Member to the answer given on 29 November 23 to PQ UIN 3658.
Asked by: Chris Law (Scottish National Party - Dundee West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department made an assessment of the potential merits of requiring the immediate regulation of funeral plan companies that (a) were founded and (b) changed ownership after the announcement of regulatory change in 2018.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that, for the first time,1.6 million funeral plan customers are protected by compulsory and robust regulation.
The government consulted widely on the regulation of pre-paid funeral plans. It published a consultation, draft statutory instrument, and impact assessment in June 2019. The FCA also published a consultation and detailed cost-benefit analysis on their proposed regulatory rules for the pre-paid funeral plan sector in March 2021.
Asked by: Chris Law (Scottish National Party - Dundee West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of the proportion of funeral plan companies that failed to gain regulation following the new regulatory regime in the funeral plan market.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that, for the first time,1.6 million funeral plan customers are protected by compulsory and robust regulation.
The government consulted widely on the regulation of pre-paid funeral plans. It published a consultation, draft statutory instrument, and impact assessment in June 2019. The FCA also published a consultation and detailed cost-benefit analysis on their proposed regulatory rules for the pre-paid funeral plan sector in March 2021.
Asked by: Chris Law (Scottish National Party - Dundee West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment (a) his Department and (b) the Financial Conduct Authority made of the implications for their policies of the speed of growth of the funeral plan market between 2001 and 2022.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that, for the first time,1.6 million funeral plan customers are protected by compulsory and robust regulation.
The government consulted widely on the regulation of pre-paid funeral plans. It published a consultation, draft statutory instrument, and impact assessment in June 2019. The FCA also published a consultation and detailed cost-benefit analysis on their proposed regulatory rules for the pre-paid funeral plan sector in March 2021.
Asked by: Chris Law (Scottish National Party - Dundee West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he made of the implications for his policies of changes in the number of funeral plan companies following the announcement of regulatory change in 2018.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA) from 29 July 2022. This has ensured that, for the first time,1.6 million funeral plan customers are protected by compulsory and robust regulation.
The government consulted widely on the regulation of pre-paid funeral plans. It published a consultation, draft statutory instrument, and impact assessment in June 2019. The FCA also published a consultation and detailed cost-benefit analysis on their proposed regulatory rules for the pre-paid funeral plan sector in March 2021.
Asked by: Chris Law (Scottish National Party - Dundee West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what regular reviews of the funeral plan market his Department undertook between 2001 and 2018.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The government works closely with the FCA to continually review the regulatory perimeter to ensure that the right balance is struck between proportionately protecting consumers, minimising costs on business, and ensuring consumers have access to useful and affordable financial products and services.
Once made aware of consumer detriment in the pre-paid funeral plans sector, the government investigated and confirmed these reports through its 2018 call for evidence. The government then consulted widely with industry and passed legislation in January 2021 to bring all pre-paid funeral plan providers and intermediaries within the FCA regulatory perimeter.
This has ensured that 1.6 million funeral plan customers are, for the first time, protected by compulsory and robust regulation.
Asked by: Kenny MacAskill (Alba Party - East Lothian)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 15 April 2024 to Question 20433, (a) how many such consignments have been declared and (b) whether HMRC has taken such enforcement action since 21 July 2022.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The indirect supply prohibition, concerning Russian Origin imports of Oil and Oil products came into force on 05 December 2022.
HMRC publishes UK trade data on the www.uktradeinfo.com website.
HM Revenue and Customs does not comment on operational enforcement matters pertaining to specific import or export scenarios.
Asked by: Alex Cunningham (Labour - Stockton North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of extending the Breathing Space (Debt Respite Scheme) to 180 days.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The government launched the Breathing Space scheme on 4 May 2021, and as of February 2024, over 216,000 people in problem debt have benefited from Breathing Space protections.
In developing the scheme, the government took the decision that sixty days is an appropriate period for breathing space to last to give individuals the time to engage with debt advice, whilst maintaining fairness and certainty for creditors.
Asked by: Kenny MacAskill (Alba Party - East Lothian)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 15 April 2024 to Question 20431, whether HMRC has taken enforcement action on oil originating in Russia and imported from a refinery in India since 21 July 2022.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
HM Revenue and Customs does not comment on operational enforcement matters pertaining to specific import or export scenarios.