Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what recent assessment his Department has made of the benefits of FinTech to the UK economy.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
Fintech offers a significant growth opportunity for the UK economy, providing new jobs, and delivering benefits to consumers through increased competition and innovation in financial services.
The Fintech sector contributes £6.6bn annually to the economy, employing 60,000 people across 1,600 companies.
The government’s ambition is for the UK to consolidate its world-leading position in FinTech and to become the leading global hub for financial innovation. In recent months I have held a roundtable with FinTech firms to discuss how to maximise opportunities for the sector and recently met the regional FinTech envoy to Scotland to discuss the benefits FinTech can offer across the UK.
Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, to which countries he has made representations in respect of building FinTech bridges.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
FinTech, including opportunities for collaboration in this area, forms a key part of the UK’s bilateral financial services discussions. The UK currently has four FinTech Bridges – with Singapore, the Republic of Korea, China, and Hong Kong.
Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps his Department is taking to regulate (a) Bitcoin and (b) other crypto-currencies.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
The UK government is currently negotiating amendments to the 4th Anti-Money Laundering Directive that will bring virtual currency exchange platforms and custodian wallet providers into Anti-Money Laundering and Counter-Terrorist Financing regulation, which will result in these firms’ activities being overseen by national competent authorities for these areas. The government supports the intention behind these amendments. We expect these negotiations to conclude at EU level in late 2017/early 2018.
Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of the amount of corporation tax revenue lost from unlicensed pet sales in the last 12 months.
Answered by Mel Stride - Secretary of State for Work and Pensions
The information requested is not available.
Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 3 March 2017 to Question 652450, what assessment he has made of the implications for his policies of the judgment of the Supreme Court of 8 February 2017 in the matter of an application by Denise Brewster for Judicial Review (Northern Ireland) [2017] UKSC8; and whether schemes will be required to revisit past cases where a survivor's pension was refused because no nomination had been made.
Answered by Elizabeth Truss
HM Treasury officials wrote out to public sector pension schemes in England, Wales, Scotland and Northern Ireland on 6 April 2017. The letter made clear that cases like that of Ms Brewster should be dealt with in line with the UK Supreme Court’s decision. Cases previously refused solely because of a lack of nomination form should be reconsidered and schemes should pay survivor benefits from the date of the member’s death in eligible cases, regardless of when a claim is made.
Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of extending real time data sharing to the whole consumer credit market on the level of consumer debt in each of the next three years.
Answered by Harriett Baldwin
HM Treasury does not hold information on the effect that sharing data in real time across the whole consumer credit market would have on consumer debt levels, or on wider economic conditions.
The Chancellor of the Exchequer has regular discussions with his Cabinet colleagues on a wide variety of issues. In line with the practice of previous Administrations, details of internal discussions are not normally disclosed.
Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with Cabinet colleagues on the extension of real-time data sharing to the whole consumer credit market.
Answered by Harriett Baldwin
HM Treasury does not hold information on the effect that sharing data in real time across the whole consumer credit market would have on consumer debt levels, or on wider economic conditions.
The Chancellor of the Exchequer has regular discussions with his Cabinet colleagues on a wide variety of issues. In line with the practice of previous Administrations, details of internal discussions are not normally disclosed.
Asked by: Chris Evans (Labour (Co-op) - Islwyn)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of the economic benefit of extending real-time data sharing to the whole consumer credit market.
Answered by Harriett Baldwin
HM Treasury does not hold information on the effect that sharing data in real time across the whole consumer credit market would have on consumer debt levels, or on wider economic conditions.
The Chancellor of the Exchequer has regular discussions with his Cabinet colleagues on a wide variety of issues. In line with the practice of previous Administrations, details of internal discussions are not normally disclosed.