Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of banning the sale of tobacco products to people born after 1 January 2009 on tobacco duties.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
The Government published an Impact Assessment to support the ‘Tobacco and Vapes Bill’ on 20 March, which includes estimate of the reduction in tobacco duty over the period 2027 and 2056:Tobacco_and_vapes_bill_IA.pdf (parliament.uk)
The impact of final decisions on tobacco duties will be assessed and reflected in the Office for Budget Responsibility's forecast. .Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many civil servants in his Department have a criminal conviction.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
The requested information is not centrally held and complying with this request would incur a disproportionate cost to the department.
HM Treasury’s approach to employ those with a criminal record is assessed at national security level and all decisions are made in line with Cabinet Office’s Security Vetting Guidance.
Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the potential revenue lost from illegal gambling.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
HM Revenue and Customs (HMRC) estimates the size of the tax gap, which is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. The tax gap statistics are published annually and are available at: Measuring tax gaps - Measuring tax gaps 2023 edition: tax gap estimates for 2021 to 2022 - GOV.UK (www.gov.uk)
HMRC does not separately estimate a betting and gaming duty tax gap; it forms part of the ‘other excise duties’ tax gap, namely betting and gaming, cider and perry, spirits-based ready-to-drink beverages and wine duties gaps.
Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many and what proportion of (a) board members and (b) employees of the Financial Conduct Authority have previous experience in the sectors that they regulate.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
Information about FCA Board members and their professional experience can be found at www.fca.org.uk/about/who-we-are/fca-board.
The FCA is an independent non-governmental body, and the Treasury does not hold information on the prior experience of FCA employees.
Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many and what proportion of (a) board members and (b) employees of the Prudential Regulation Authority have previous experience in the sectors that they regulate.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
Information about PRA Board members and their professional experience can be found at:
www.bankofengland.co.uk/about/people/prudential-regulation-committee
The PRA is an independent non-governmental body, and the Treasury does not hold information on the prior experience of PRA employees.
Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many and what proportion of (a) board members and (b) employees of the Payment Systems Regulator have previous experience in the sectors that they regulate.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
Information about PSR Board members and their professional experience can be found at: www.psr.org.uk/about-us/psr-governance
The PSR is an independent non-governmental body, and the Treasury does not hold information on the prior experience of PSR employees.
Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential impact of proposals in the Prudential Regulation Authority Consultation CP 16/22 on the Implementation of the Basel 3.1 standards on the ability of small and medium-sized enterprises to raise funds against their commercial premises, and if he will make a statement.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Prudential Regulation Authority (PRA)’s, and HM Treasury’s, consultations on the Basel 3.1 standards closed on 30 March. This included the government’s proposals for deleting retained EU law including which relates to the prudential rules on small and medium-sized enterprises (SMEs) raising funds against their commercial premises. The detailed implementation of the Basel 3.1 package is being delegated to the UK’s expert regulator, the PRA, and its consultation requested information from firms on specific measures, including those relating to SME lending. The government and PRA are currently considering the responses.
The government continues to work with the PRA and businesses closely to understand the impact of the proposed changes, including the impact on SME lending.
Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the proposals on SME lending in the PRA Consultation CP 16/22 on the Implementation of the Basel 3.1 standards, what assessment he has made of the impact of the proposals on the ability of challenger banks to compete with the principal six banks on SME lending.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is currently consulting on its proposals for Basel 3.1. This includes proposals for deleting retained EU law including those which relate to the prudential rules on SME lending. The detailed implementation of the Basel package however, has been delegated to the Prudential Regulation Authority (PRA) as the UK’s expert regulator. The PRA is consulting under an accountability framework agreed by Parliament, and has requested information from firms on specific measures including those relating to lending to SMEs.
The consultation can be found here:
The Government continues to work closely with the PRA and businesses to understand the impact of potential changes including for the international competitiveness of the UK, the impact on SME lending and the nature of competition between banks that operate in the domestic market.
Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the proposals on SME lending in the PRA Consultation CP 16/22 on the Implementation of the Basel 3.1 standards, what assessment he has made of the effectiveness of those proposals on meeting the PRA’s mandate to promote competition in the banking sector.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is currently consulting on its proposals for Basel 3.1. This includes proposals for deleting retained EU law including those which relate to the prudential rules on SME lending. The detailed implementation of the Basel package however, has been delegated to the Prudential Regulation Authority (PRA) as the UK’s expert regulator. The PRA is consulting under an accountability framework agreed by Parliament, and has requested information from firms on specific measures including those relating to lending to SMEs.
The consultation can be found here:
The Government continues to work closely with the PRA and businesses to understand the impact of potential changes including for the international competitiveness of the UK, the impact on SME lending and the nature of competition between banks that operate in the domestic market.
Asked by: Philip Davies (Conservative - Shipley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the SME lending proposals in the PRA Consultation CP 16/22 on the Implementation of the Basel 3.1 standards, what assessment he has made of the potential impact of those standards on the supply of funding available to SMEs in (a) the UK and (b) Shipley constituency.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is currently consulting on its proposals for Basel 3.1. This includes proposals for deleting retained EU law including those which relate to the prudential rules on SME lending. The detailed implementation of the Basel package however, has been delegated to the Prudential Regulation Authority (PRA) as the UK’s expert regulator. The PRA is consulting under an accountability framework agreed by Parliament, and has requested information from firms on specific measures including those relating to lending to SMEs.
The consultation can be found here:
The Government continues to work closely with the PRA and businesses to understand the impact of potential changes including for the international competitiveness of the UK, the impact on SME lending and the nature of competition between banks that operate in the domestic market.