Asked by: Rosie Duffield (Labour - Canterbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the small business rate relief grant to businesses operating in non-rateable premises.
Answered by Jesse Norman
The Government has set out a package of measures to support businesses through this period of disruption caused by COVID-19, including those businesses not eligible for the small business grant or the retail, leisure and hospitality grant.
This support for business includes the Coronavirus Business Interruption Loan scheme for small and medium-sized businesses, a statutory sick pay relief package, the HMRC Time To Pay Scheme, the Coronavirus Job Retention Scheme to help firms continue to keep people in employment and a new lending facility from the Bank of England for larger firms.
These measures provide a comprehensive, coordinated and coherent response to what is a serious and evolving economic situation. As the wider economic picture becomes clearer, the Government will do whatever it takes to get the nation through the impacts of COVID-19 and the Government stands ready to announce further action wherever necessary.
Asked by: Rosie Duffield (Labour - Canterbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will publish the directions, as listed under section 78(5) of the Financial Services Act 2012, which the Treasury has given to the Financial Conduct Authority for its inquiry into London Capital & Finance.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
I have today laid a Direction before Parliament requiring the Financial Conduct Authority to carry out an independent investigation into the events and circumstances surrounding the failure of London Capital and Finance.
Asked by: Rosie Duffield (Labour - Canterbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will publish the timetable for the review of London Capital and Finance following its collapse.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
On 1 April, I announced that I will use powers under the Financial Services Act 2012 to direct the Financial Conduct Authority (FCA) to launch an investigation into the events at London Capital & Finance and the circumstances surrounding them. This followed a request to me from the FCA Chair, Charles Randell, to launch such an investigation.
The investigation will be led by an independent person appointed by the FCA, with the approval of HM Treasury. Further details of the independent investigation will be communicated in due course.
Asked by: Rosie Duffield (Labour - Canterbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the oral contribution of the Financial Secretary to the Treasury on 7 March 2018, Official Report, column 428, how many and what proportion of HMRC staff in Charter House Canterbury are expected to (a) transfer to HMRC Regional Centre and (b) complete their career in that location.
Answered by Mel Stride - Secretary of State for Work and Pensions
HMRC wants to keep as many employees as possible as it moves to its regional centres. It has been clear that if someone can move to a regional centre and has the skills it needs or is able to develop them, there will be a role for them.
For Canterbury, Charter House, current planning data shows that around 34 full-time equivalent (FTE) people, or 51 per cent, will transfer to either the Croydon or Stratford Regional Centre.
Canterbury, Charter House is scheduled to close in February 2020, before the Stratford Regional Centre opens. HMRC staff who can will therefore initially move to Maidstone, Medvale House, which will be staying open until late 2020-21. HMRC expects 45 FTE people, or 67 per cent, will transfer to Maidstone.
HMRC cannot be certain about how many will actually be able to move to a regional centre or the numbers who may complete their career at either Canterbury or Maidstone until one-to-one discussions with managers have taken place. These will be held around a year before any move. Demographic data for the office suggests that many staff may choose to retire when the office closes.
Asked by: Rosie Duffield (Labour - Canterbury)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with the Financial Conduct Authority on the introduction of the duty of care; and what the process and timescale will be for that introduction.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The government believes that the Financial Conduct Authority (FCA), as the UK’s independent conduct regulator for the financial services industry, is best placed to evaluate the merits of a duty of care for financial services providers. We therefore welcome the FCA’s commitment to publish a Discussion Paper on the subject, which the FCA plans to publish after the UK’s withdrawal from the EU.