Asked by: Guto Bebb (Independent - Aberconwy)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how much (a) Class 2 and (b) Class 4 National Insurance his Department collected from individuals earning less than the threshold for income tax during the 2012-13 tax year.
Answered by David Gauke
Estimates of the amount of Class 2 National Insurance contributions collected from individuals earning less than the threshold for income tax are not available.
For the tax year 2012-13, £28m of Class 4 National Insurance contributions was collected from individuals with total profits below the income tax threshold of £8,105.
For the tax year 2012-13, £510m of Class 1 National Insurance contributions was collected from individuals with total employment income below the income tax threshold of £8,105.
Asked by: Guto Bebb (Independent - Aberconwy)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority on the interest rate swap redress scheme.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
Treasury Ministers and officials meet with a wide range of organisations as part of the usual policy making process.
However, the Chancellor has had no recent discussions with the FCA specifically regarding its review on the mis-selling of interest rate hedging products.
It might be useful to know that the Treasury publishes a list of ministerial meetings with external organisations. This is available online at: http://www.hm-treasury.gov.uk/minister_hospitality.htm.
Asked by: Guto Bebb (Independent - Aberconwy)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what role his Department played in the decision to separate Lloyds and TSB.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
Lloyds Banking Group is required to divest part of its UK banking business – TSB – as a result of European Commission approval of the aid it received from the UK Government during the financial crisis.
The TSB divestment was part of a wider package of measures to ensure that the recapitalisation of Lloyds was compliant with the single market. The State aid agreement is therefore between HM Government and Lloyds, and between the Government and the European Commission.
Asked by: Guto Bebb (Independent - Aberconwy)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what guidance his Department has given to the Financial Conduct Authority on its remit in relation to tailored business loans.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
Treasury Ministers and officials meet with a wide range of organisations as part of the usual policy making process.
The Treasury publishes a list of ministerial meetings with external organisations. This is available online at: http://www.hm-treasury.gov.uk/minister_hospitality.htm
It is important to recognise that business lending is not, and never has been, within the scope of the Financial Conduct Authority's (FCA) conduct rules.
I understand that Clydesdale and Yorkshire Banks have agreed to review the sale of those tailored business loans with features comparable to standalone structured collars, simple collars and caps notwithstanding the fact that they are strictly outside the scope of the FCA's review into the mis-selling of interest rate hedging products.
Asked by: Guto Bebb (Independent - Aberconwy)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what recent discussions he has had with the Financial Conduct Authority (FCA) on extending the FCA's powers to include regulatory powers over tailored business loans.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
Treasury Ministers and officials meet with a wide range of organisations as part of the usual policy making process.
The Treasury publishes a list of ministerial meetings with external organisations. This is available online at: http://www.hm-treasury.gov.uk/minister_hospitality.htm
It is important to recognise that business lending is not, and never has been, within the scope of the Financial Conduct Authority's (FCA) conduct rules.
I understand that Clydesdale and Yorkshire Banks have agreed to review the sale of those tailored business loans with features comparable to standalone structured collars, simple collars and caps notwithstanding the fact that they are strictly outside the scope of the FCA's review into the mis-selling of interest rate hedging products.