Asked by: Mohammad Yasin (Labour - Bedford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will publish a timescale for setting up and implementing the compensation scheme for the victims of the London Capital & Finance bondholder savings scandal.
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 in due course.
Asked by: Mohammad Yasin (Labour - Bedford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will compensate all victims of the London Capital & Finance bondholder savings scandal.
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 in due course.
Asked by: Mohammad Yasin (Labour - Bedford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when he plans to publish the Infrastructure Strategy; and what steps he is taking to ensure that infrastructure priorities in that strategy are aligned with the UK's net zero emissions target.
Answered by Kemi Badenoch - President of the Board of Trade
Recognising the need to invest sustainably, we will set out our long-term economic infrastructure ambitions, including on decarbonisation and levelling up the nation in our upcoming National Infrastructure strategy which we expect to publish in the Autumn.
Ensuring infrastructure helps drive progress on Net Zero will be a key objective of the National Infrastructure Strategy, alongside levelling up across the country and driving growth across all parts of the UK.
The Strategy will set out the government’s long-term ambitions for economic infrastructure. It will also be responding to the National Infrastructure Commission’s 2018 assessment of the UK’s infrastructure needs.
Asked by: Mohammad Yasin (Labour - Bedford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will create a net-zero emissions test for all infrastructure policy and spending decisions.
Answered by Kemi Badenoch - President of the Board of Trade
The Government has a robust process for assessing the impact of spending decisions on achieving our environmental goals.
To ensure Government policy considers our environmental goals, we consult our world-leading Green Book, which mandates the consideration of climate and environmental impacts in spending.
Using the Green Book, which is under ongoing review, all interventions should be appraised against the Government’s strategic objectives. This means how it interacts or conflicts with other policies, and how it is limited by constraints including legal commitments. Such as the Government’s legal net zero carbon emissions target.
Building on this, an updated 2020 Green Book and the findings from its review will be published alongside the SR.
Asked by: Mohammad Yasin (Labour - Bedford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the efficacy of the Contingent Reimbursement Model Code for Authorised Push Payments in helping to protect consumers from authorised push payments scams; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
In March 2018, the Payment Systems Regulator (PSR) established a steering group of financial institutions and consumer representatives to develop a voluntary code of good practice to help protect consumers against authorised push payment (APP) scams.
At the end of February 2019, the steering group published the Contingent Reimbursement Model Code for APP Scams (the Code), which sets out the agreed principles for greater protection of consumers and the circumstances in which they will be reimbursed, making a significant step in delivering improved protections for consumers. The Code became effective on 28 May 2019 and customers of those payment service providers that are signatories (which includes all of the 6 largest banks and building societies) are protected under the Code from this date.
The Lending Standards Board (LSB), which is responsible for the Code, has committed to a first annual review of its operation later this year. The Government looks forward to reviewing these findings when they become available.
Asked by: Mohammad Yasin (Labour - Bedford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has plans to reimburse the fixed practice overheads of dentists to allow them to close their dental practices to non-essential services to prevent the transmission of covid-19.
Answered by Jesse Norman
Dentists holding a contract to provide NHS dental services are remunerated through an annual contract value dependent on delivery of an agreed amount of treatment (activity). There is no separate reimbursement of practice costs apart from rates reimbursement.
NHS England are in discussion with the British Dental Association about how the impact of coronavirus on service delivery will be managed.
On 20 March 2020, the Chancellor announced the Coronavirus Job Retention Scheme to help firms continue to keep people in employment. The scheme will apply to dental practices.