Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the methodology used for the calculation of payments under the Equitable Life Payment Scheme; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
I refer the Honourable Member for Edinburgh North and Leith to the answer I gave on 17 May 2021.
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the (a) timescale and (b) process is for compensation to London Capital and Finance bondholders under the Financial Conduct Authority's complaints scheme.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
In my Written Ministerial Statement on 17 December 2020, I outlined the three main channels through which London Capital & Finance plc (LCF) bondholders can seek compensation. These are the administration process, the Financial Services Compensation Scheme (FSCS), and the Financial Conduct Authority’s (FCA) Complaints Scheme.
My statement also announced that, taking into consideration the specific and complex set of circumstances surrounding the collapse of LCF, the Treasury will set up a compensation scheme which will assess whether there is justification for further one-off compensation payments in certain circumstances for some LCF bondholders . The Government will announce further details, including on timescales, the scheme’s administering body, and the eligibility of compensation, in due course.
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the timescale is for setting up the compensation scheme for London Capital and Finance bondholders.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
In my Written Ministerial Statement on 17 December 2020, I outlined the three main channels through which London Capital & Finance plc (LCF) bondholders can seek compensation. These are the administration process, the Financial Services Compensation Scheme (FSCS), and the Financial Conduct Authority’s (FCA) Complaints Scheme.
My statement also announced that, taking into consideration the specific and complex set of circumstances surrounding the collapse of LCF, the Treasury will set up a compensation scheme which will assess whether there is justification for further one-off compensation payments in certain circumstances for some LCF bondholders . The Government will announce further details, including on timescales, the scheme’s administering body, and the eligibility of compensation, in due course.
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, who will administer the London Capital and Finance compensation scheme.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
In my Written Ministerial Statement on 17 December 2020, I outlined the three main channels through which London Capital & Finance plc (LCF) bondholders can seek compensation. These are the administration process, the Financial Services Compensation Scheme (FSCS), and the Financial Conduct Authority’s (FCA) Complaints Scheme.
My statement also announced that, taking into consideration the specific and complex set of circumstances surrounding the collapse of LCF, the Treasury will set up a compensation scheme which will assess whether there is justification for further one-off compensation payments in certain circumstances for some LCF bondholders . The Government will announce further details, including on timescales, the scheme’s administering body, and the eligibility of compensation, in due course.
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department is planning to impose any restrictions on compensation to bondholders under the London Capital and Finance compensation scheme.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
In my Written Ministerial Statement on 17 December 2020, I outlined the three main channels through which London Capital & Finance plc (LCF) bondholders can seek compensation. These are the administration process, the Financial Services Compensation Scheme (FSCS), and the Financial Conduct Authority’s (FCA) Complaints Scheme.
My statement also announced that, taking into consideration the specific and complex set of circumstances surrounding the collapse of LCF, the Treasury will set up a compensation scheme which will assess whether there is justification for further one-off compensation payments in certain circumstances for some LCF bondholders . The Government will announce further details, including on timescales, the scheme’s administering body, and the eligibility of compensation, in due course.
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will publish the (a) names of the companies, other than small enterprises, that received support under the Eat Out to Help Out scheme and (b) amount that each of those companies (i) claimed and (ii) was paid under that scheme.
Answered by Jesse Norman
In registering for the Eat Out to Help Out Scheme, businesses agreed to publication of the names and addresses of their restaurants or other outlets. HMRC do not have permission to publish other details about the businesses or their claims and are bound by a duty of confidentiality.
HMRC have published data about the number of registered establishments and claims totals and will publish a detailed analysis of the scheme in the near future. This will include breakdowns of claims values between small and larger businesses (those with more than 25 establishments).
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when the technical consultation on reform of Small Brewers Relief will be launched.
Answered by Kemi Badenoch - President of the Board of Trade
The Treasury has been reviewing Small Brewers Relief (SBR) since 2018, and before recess announced several changes to the SBR scheme in order to make it easier for small independent breweries to expand and grow.
As part of the review, I have met with the Society of Independent Brewers (SIBA) and the Small Brewers Duty Reform Coalition (SBDRC), most recently in July. My predecessor Simon Clarke MP met with both groups in a roundtable in September 2019. Officials have also had frequent meetings with both groups.
The review is still ongoing and will be subject to a consultation on further technical details. This will be published later this Autumn.
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential effect of the planned reform of Small Brewers Relief on small, independent breweries.
Answered by Kemi Badenoch - President of the Board of Trade
The Treasury has been reviewing Small Brewers Relief (SBR) since 2018, and before recess announced several changes to the SBR scheme in order to make it easier for small independent breweries to expand and grow.
As part of the review, I have met with the Society of Independent Brewers (SIBA) and the Small Brewers Duty Reform Coalition (SBDRC), most recently in July. My predecessor Simon Clarke MP met with both groups in a roundtable in September 2019. Officials have also had frequent meetings with both groups.
The review is still ongoing and will be subject to a consultation on further technical details. This will be published later this Autumn.
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions his Department has had with the Society of Independent Brewers on the Small Brewers Relief reform.
Answered by Kemi Badenoch - President of the Board of Trade
The Treasury has been reviewing Small Brewers Relief (SBR) since 2018, and before recess announced several changes to the SBR scheme in order to make it easier for small independent breweries to expand and grow.
As part of the review, I have met with the Society of Independent Brewers (SIBA) and the Small Brewers Duty Reform Coalition (SBDRC), most recently in July. My predecessor Simon Clarke MP met with both groups in a roundtable in September 2019. Officials have also had frequent meetings with both groups.
The review is still ongoing and will be subject to a consultation on further technical details. This will be published later this Autumn.
Asked by: Deidre Brock (Scottish National Party - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions his Department has had with the Small Brewers Duty Reform Coalition on Small Brewers Relief reform.
Answered by Kemi Badenoch - President of the Board of Trade
The Treasury has been reviewing Small Brewers Relief (SBR) since 2018, and before recess announced several changes to the SBR scheme in order to make it easier for small independent breweries to expand and grow.
As part of the review, I have met with the Society of Independent Brewers (SIBA) and the Small Brewers Duty Reform Coalition (SBDRC), most recently in July. My predecessor Simon Clarke MP met with both groups in a roundtable in September 2019. Officials have also had frequent meetings with both groups.
The review is still ongoing and will be subject to a consultation on further technical details. This will be published later this Autumn.