Asked by: Andrew Mitchell (Conservative - Sutton Coldfield)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions his Department has had with (a) the International Monetary Fund and (b) his counterparts in G7 countries on helping to ensure that Pakistan’s debt repayments do not divert resources from the ongoing humanitarian situation in that country.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government expresses deep concern and condolences for the severe humanitarian and economic impact of flooding in Pakistan. The UK recently announced an uplift in Pakistan flood relief funding, taking the total amount pledged to £16.5m. In addition, at COP26, the UK announced more than £55m of support to help Pakistan tackle climate change.
The Government regularly engages on debt issues with our international partners in a number of fora. The UK acts in concert with its partners in the Paris Club and G20 on international debt issues and we stand ready to consider any formal request from Pakistan through the Paris Club or Common Framework process.
Asked by: Andrew Mitchell (Conservative - Sutton Coldfield)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the level of need for Government support during summer 2021 for businesses in the travel agency industry that are affected by covid-19 travel restrictions.
Answered by Kemi Badenoch - President of the Board of Trade
The Government appreciates the significant disruption the pandemic has had on travel agents. Companies facing difficulties can draw upon the unprecedented package of measures announced by the Chancellor, including the COVID loans schemes and extended furlough.
In England, travel agents can benefit from the £5 billion package of grant support announced at Budget. This includes Restart Grants worth up to £6,000 if classified as non-essential retail or up to £18,000 if classified as a leisure or accommodation business. This package of support also includes the £425 million top-up to the Additional Restrictions Grant which has already provided Local Authorities (LAs) with £1.6 billion. This funding is at the LAs discretion and is intended to support businesses which are not eligible for Restart Grants, but which are nonetheless experiencing a severe impact on their business.
The Government continues to review all the economic support schemes, including grant support, as the public health response evolves.
Asked by: Andrew Mitchell (Conservative - Sutton Coldfield)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department plan to take during the G7 Presidency to work with international partners to ensure that private creditors participate in multilateral debt restructuring agreements for developing countries in the context of the Common Framework.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
We regularly work with our international partners in the G7, G20 and Paris Club on debt issues, including private sector participation in debt restructurings. We also engage directly with the private sector, including through the Institute of International Finance.
Support for Low-Income Developing Countries is a key priority for the UK’s G7 presidency this year and we have made clear our expectation that the private sector will offer debt treatment on at least as favourable terms as the official sector under the Common Framework agreed by the G20 last November.
Asked by: Andrew Mitchell (Conservative - Sutton Coldfield)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to regulate company formation agents.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Company formation service providers are regulated entities under the UK’s Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017. The Regulations set out the high-level requirements on regulated firms to combat money laundering and ensure that key professionals identify their customers, understand the purpose behind transactions including the source of funds and have policies, controls and procedures in place to mitigate against the risks of money laundering and terrorism financing they face.
As a regulated entity under the Regulations, company formation service providers must be registered with an anti-money laundering supervisor. Anti-money laundering supervisors must effectively monitor the compliance of regulated entities they supervise. In December 2018, the Financial Action Task Force, the global standard-setter for anti-money laundering and counter terrorism financing (AML/CTF), published its Mutual Evaluation Report of the United Kingdom. It recognised that the UK’s AML/CTF regime is the strongest of over sixty countries assessed by FATF and its regional bodies to date.
Asked by: Andrew Mitchell (Conservative - Sutton Coldfield)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps he is taking to grow the digital economy in the Midlands.
Answered by Simon Clarke
The government is committed to making the UK the best place to start and grow a digital business, and to ensuring the benefits of digital are felt across the country.
The Midlands is well-placed to make the most of the digital revolution, with its leading universities and strengths in advanced manufacturing and engineering. It is already home to more than 20,000 digital technology businesses.
We are driving further growth in the region’s digital economy through:
The region is also benefitting from:
Asked by: Andrew Mitchell (Conservative - Sutton Coldfield)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether the Government is taking steps to prevent the 39 Russian nationals, named in the Sergei Magnitsky Rule of Law Accountability Act passed by the US Congress and President Obama in 2012, from holding assets in UK banks or UK listed companies.
Answered by Simon Kirby
The Government has not taken steps to prevent individuals named in the US Rule of Law Accountability Act, from holding assets in UK banks or UK listed companies. The Government’s approach to strengthening human rights globally focuses on multilateral and bilateral action to hold to account those states responsible for the worst violations of human rights, and working with those states determined to strengthen protections in locally appropriate ways.
The National Crime Agency treats allegations of money laundering with the utmost seriousness and will continue to support inquiries in the UK that are designed to help bring justice in jurisdictions that can target the criminality in this case.
Asked by: Andrew Mitchell (Conservative - Sutton Coldfield)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether his Department plans to take steps to freeze the assets held in the UK by the 39 Russian nationals named in the Sergei Magnitsky Rule of Law Accountability Act passed by the US Congress and President Obama in 2012.
Answered by Simon Kirby
The Government has not taken steps to prevent individuals named in the US Rule of Law Accountability Act, from holding assets in UK banks or UK listed companies. The Government’s approach to strengthening human rights globally focuses on multilateral and bilateral action to hold to account those states responsible for the worst violations of human rights, and working with those states determined to strengthen protections in locally appropriate ways.
The National Crime Agency treats allegations of money laundering with the utmost seriousness and will continue to support inquiries in the UK that are designed to help bring justice in jurisdictions that can target the criminality in this case.