Question to the HM Treasury:

To ask His Majesty's Government what guidance HMRC provides concerning whether fractional shares may be held in individual savings accounts; and whether they have made any assessment of any discrepancy between (1) such guidance, and (2) the contents of the Autumn Statement, guidance from the Financial Conduct Authority, and the consensus of the investment community.

Answered by Baroness Vere of Norbiton - Parliamentary Secretary (HM Treasury)

At Autumn Statement 2023, the Government announced its intention to permit certain fractional shares contracts to be eligible ISA investments. This requires a change to the ISA Regulations and ISA manager’s guidance to define those eligible investments for ISA purposes.

Government has considered the Financial Conduct Authority’s initial position towards fractional shares, the position of the small number of firms offering them, and the view of the wider market.

Further information will be available in due course.

Question to the HM Treasury:

To ask His Majesty's Government whether they intend to clarify before April 2024 whether fractional shares may be included in individuals savings accounts.

Answered by Baroness Vere of Norbiton - Parliamentary Secretary (HM Treasury)

At Autumn Statement 2023, the Government announced its intention to permit certain fractional shares contracts to be eligible ISA investments. This requires a change to the ISA Regulations and ISA manager’s guidance to define those eligible investments for ISA purposes.

Government has considered the Financial Conduct Authority’s initial position towards fractional shares, the position of the small number of firms offering them, and the view of the wider market.

Further information will be available in due course.

Found: Lord Altrincham; Baroness Armstrong of Hill Top; Lord Best; Viscount Chandos; Lord Clement Jones; Lord

Found: Lord Cromwell: That is exactly my point. 8 Timothy Douglas: Yes, but that is one element of it.

The Industry and Regulators Committee is launching a short inquiry into the regulation of property agents. 

The Industry and Regulators Committee has launched an inquiry into skills policy, focusing in particular on apprenticeships and training, and in the context of the skills the UK workforce needs for the future. The inquiry will examine whether the UK’s current systems and policies for apprenticeships and in-work training are working and, if not, how they should be reformed. In doing so, the inquiry will consider the responsibilities of government, employers, training providers, and individuals, and the incentives facing these groups.