Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment was undertaken of the effect of a zero-rate air passenger duty in Scotland on airports in Northern England before taking the decision to devolve the setting of that duty.
Answered by Priti Patel
The devolution of APD to Scotland raises the potential for reel pressure to be put on regional airports – particularly in the North East but also on Manchester and others. The Chancellor has been clear we will work together cross parties to ensure that we minimise the impact of any decision by Scotland to reduce ADP, so that we protect English regional airports.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the potential cost to Manchester Airport of a zero-rate air passenger duty for Scotland.
Answered by Priti Patel
The devolution of APD to Scotland raises the potential for reel pressure to be put on regional airports – particularly in the North East but also on Manchester and others. The Chancellor has been clear we will work together cross parties to ensure that we minimise the impact of any decision by Scotland to reduce ADP, so that we protect English regional airports.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the total amount of all government spending in Greater Manchester was in (a) 2010, (b) 2011, (c) 2012, (d) 2013 and (e) 2014 to date.
Answered by Danny Alexander
HM Treasury does not hold the total amount of all Government spending in Greater Manchester. The Department for Communities and Local Government collect detailed information on local authority expenditure, however this does not cover all government spend in Greater Manchester.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will take steps to prohibit credit reference agencies from selling payday customer details to marketing agencies and lead generators.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Government has made clear to lenders that credit data sharing is key to proper affordability assessments and promoting a competitive market, and more progress on recording and using payday lending data in real time is vital to addressing problems around multiple loans.
Having access to comprehensive real-time data about their customers’ outstanding commitments may help avoid consumers taking out a loan which they cannot afford to repay.
The FCA has already made clear to payday lenders and credit reference agencies (CRAs) in its policy statement, published in February, that they must identify and remove any data sharing blockages involving payday lenders as a matter of urgency.
In its consultation on the cap on the cost of payday loans, published in July, the FCA stated it expects to see more than 90% of current market participants - by market share and volume of loans - participating in real-time market-wide data sharing by November 2014, and more than 90% of loans being reported in real time. In order to improve the coverage of real-time databases, firms will also need to share data with more than one CRA.
The FCA stated that it will request information from firms and CRAs in order to get an accurate picture of whether the standards it has proposed have been met by November. If the FCA does not see sufficient progress by November or CRA coverage does not improve, it will consult on the introduction of data sharing requirements. It has also placed a requirement on firms to provide product sales data on high-cost short-term credit agreements every three months once they are authorised.
Credit reference agencies must ensure that that their use of personal data is compliant with the Data Protection Act 1998 (DPA). The Information Commissioner’s Office is an independent UK supervisory authority that oversees and enforces compliance with the DPA.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on credit scores of increased data sharing by payday lenders.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Government has made clear to lenders that credit data sharing is key to proper affordability assessments and promoting a competitive market, and more progress on recording and using payday lending data in real time is vital to addressing problems around multiple loans.
Having access to comprehensive real-time data about their customers’ outstanding commitments may help avoid consumers taking out a loan which they cannot afford to repay.
The FCA has already made clear to payday lenders and credit reference agencies (CRAs) in its policy statement, published in February, that they must identify and remove any data sharing blockages involving payday lenders as a matter of urgency.
In its consultation on the cap on the cost of payday loans, published in July, the FCA stated it expects to see more than 90% of current market participants - by market share and volume of loans - participating in real-time market-wide data sharing by November 2014, and more than 90% of loans being reported in real time. In order to improve the coverage of real-time databases, firms will also need to share data with more than one CRA.
The FCA stated that it will request information from firms and CRAs in order to get an accurate picture of whether the standards it has proposed have been met by November. If the FCA does not see sufficient progress by November or CRA coverage does not improve, it will consult on the introduction of data sharing requirements. It has also placed a requirement on firms to provide product sales data on high-cost short-term credit agreements every three months once they are authorised.
Credit reference agencies must ensure that that their use of personal data is compliant with the Data Protection Act 1998 (DPA). The Information Commissioner’s Office is an independent UK supervisory authority that oversees and enforces compliance with the DPA.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will instruct the Financial Conduct Authority to require credit reference agencies to report their data to the Authority for enforcement purposes.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Government has made clear to lenders that credit data sharing is key to proper affordability assessments and promoting a competitive market, and more progress on recording and using payday lending data in real time is vital to addressing problems around multiple loans.
Having access to comprehensive real-time data about their customers’ outstanding commitments may help avoid consumers taking out a loan which they cannot afford to repay.
The FCA has already made clear to payday lenders and credit reference agencies (CRAs) in its policy statement, published in February, that they must identify and remove any data sharing blockages involving payday lenders as a matter of urgency.
In its consultation on the cap on the cost of payday loans, published in July, the FCA stated it expects to see more than 90% of current market participants - by market share and volume of loans - participating in real-time market-wide data sharing by November 2014, and more than 90% of loans being reported in real time. In order to improve the coverage of real-time databases, firms will also need to share data with more than one CRA.
The FCA stated that it will request information from firms and CRAs in order to get an accurate picture of whether the standards it has proposed have been met by November. If the FCA does not see sufficient progress by November or CRA coverage does not improve, it will consult on the introduction of data sharing requirements. It has also placed a requirement on firms to provide product sales data on high-cost short-term credit agreements every three months once they are authorised.
Credit reference agencies must ensure that that their use of personal data is compliant with the Data Protection Act 1998 (DPA). The Information Commissioner’s Office is an independent UK supervisory authority that oversees and enforces compliance with the DPA.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the share of the payday lending market covered by (a) Experian, (b) Equifax, (c) CallCredit (d) CoreLogic and (e) FactorTrust.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Government has made clear to lenders that credit data sharing is key to proper affordability assessments and promoting a competitive market, and more progress on recording and using payday lending data in real time is vital to addressing problems around multiple loans.
Having access to comprehensive real-time data about their customers’ outstanding commitments may help avoid consumers taking out a loan which they cannot afford to repay.
The FCA has already made clear to payday lenders and credit reference agencies (CRAs) in its policy statement, published in February, that they must identify and remove any data sharing blockages involving payday lenders as a matter of urgency.
In its consultation on the cap on the cost of payday loans, published in July, the FCA stated it expects to see more than 90% of current market participants - by market share and volume of loans - participating in real-time market-wide data sharing by November 2014, and more than 90% of loans being reported in real time. In order to improve the coverage of real-time databases, firms will also need to share data with more than one CRA.
The FCA stated that it will request information from firms and CRAs in order to get an accurate picture of whether the standards it has proposed have been met by November. If the FCA does not see sufficient progress by November or CRA coverage does not improve, it will consult on the introduction of data sharing requirements. It has also placed a requirement on firms to provide product sales data on high-cost short-term credit agreements every three months once they are authorised.
Credit reference agencies must ensure that that their use of personal data is compliant with the Data Protection Act 1998 (DPA). The Information Commissioner’s Office is an independent UK supervisory authority that oversees and enforces compliance with the DPA.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate his Department has made of (a) the number of payday firms that will be in operation and (b) the projected consumer demand for payday loans in (i) 2015, (ii) 2016 and (iii) 2017.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Government has fundamentally reformed regulation of the consumer credit market. Responsibility for consumer credit regulation transferred from the Office of Fair Trading (OFT) to the Financial Conduct Authority (FCA) on 1 April 2014.
In the FCA’s consultation paper on the cap on the cost of payday loans, the FCA assesses that its proposals will lead to a risk of contraction in both the online and high-street markets. FCA modelling suggests that its cap proposals would mean at least one high street firm would continue to offer payday loans and at least the three largest online firms continuing in the market, although the FCA expects that more firms will be able to adapt their businesses to operate under the price cap and remain in the market.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what analysis his Department has made of the performance of credit caps on payday lending firms in operation in (a) the USA, (b) Canada and (c) Australia.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
The Government legislated to require the FCA to introduce a cap on the cost of payday loans, to protect consumers from unfair costs.
In making this decision the government considered the international evidence in support of a cap. As part of its work to design a cap to meet the needs of UK consumers, the FCA took into account international comparators conducting detailed case studies on experiences of price cap setting in Australia, Canada, US, Finland and Japan. The FCA spoke to international regulators and experts to understand the rationale and designs of price caps, as well as the impact they had on consumers and industry in these countries.