Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what financial assessment his Department has made on the effect of the proposed Solvency II reforms on the public purse.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Solvency II reforms strike a careful balance between boosting growth and maintaining high standards of policyholder protection. Insurers will still have to hold enough capital to withstand a 1-in-200-year shock. They will still have to adhere to high standards of risk management and will still be comprehensively supervised by our world-class independent regulator. The Government has announced a suite of additional supervisory measures the PRA will be taking forwards to hold insurers to account in maintaining safety, soundness, and policyholder protection.
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment his Department has made of a potential impact of the Government's proposed Solvency II reforms on the level of risk to the financial stability of the banking sector.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Solvency II reforms strike a careful balance between boosting growth and maintaining high standards of policyholder protection. Insurers will still have to hold enough capital to withstand a 1-in-200-year shock. They will still have to adhere to high standards of risk management and will still be comprehensively supervised by our world-class independent regulator. The Government has announced a suite of additional supervisory measures the PRA will be taking forwards to hold insurers to account in maintaining safety, soundness, and policyholder protection.
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking with Cabinet colleagues to support homeowners with rising mortgage rates.
Answered by Felicity Buchan - Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)
Around 75% of mortgage holders are on a fixed-rate mortgage, and will therefore be shielded from rate rises in the short term.
We are also taking steps to help everyone with cost-of-living pressures through the Energy Price Guarantee and the Energy Bills Support Scheme, in addition to £37 billion of targeted cost-of-living support this financial year.
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make it his policy to grant a general licence for humanitarian activities in Ukraine in order that charities are able to spend the money donated to them by the British public.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Office of Financial Sanctions Implementation (OFSI), in HM Treasury, does not accept applications for general licences, however OFSI prioritises specific licence applications made for humanitarian purposes to help ensure that funds can get to where they are needed most as quickly as possible. This includes applications to permit humanitarian activities in Ukraine, where there is specific provision in the regulations for OFSI to grant such licences.
OFSI is proactively engaging with humanitarian organisations to understand their needs in delivering activities in Ukraine and will continue to closely monitor the situation.
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps the Office of Financial Sanctions Implementation take to help ensure that money donated by the British people to the Disasters Emergences Committee appeal for Ukraine is able to reach vulnerable people inside Ukraine without being stopped by sanctions.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Office of Financial Sanctions Implementation (OFSI) prioritises licence applications made for humanitarian purposes to help ensure that funds can get to where they are needed most as quickly as possible. This includes applications to permit humanitarian activities in Ukraine, where there is specific provision in the regulations for OFSI to grant such licences.
OFSI is proactively engaging with humanitarian organisations to understand their needs in delivering activities in Ukraine and will continue to closely monitor the situation.
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 11 January 2022 to Question 94388 on Treasury: USA, where he stayed on that trip to California.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
I refer the Hon. Member to the answer given on 11th January 2022. As stated, information on Ministerial travel and costs are published regularly at: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 11 January 2022 to Question 94388 on Treasury: USA, who accompanied him on that trip to California.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
The Chancellor was accompanied by two Special Advisors and two Private Secretaries.
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, where he stayed on his recent trip to California.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
The Chancellor was in the US on a long-planned business trip. He met with industry leaders from the tech and investment sectors to discuss the global economic recovery, investment in the UK, as well as the latest trends and innovations in the global tech sector.
The Chancellor travelled to San Francisco on Tuesday 14th December and departed on Thursday 16th December. The Chancellor returned to the UK earlier than planned.
The remainder of the information will be published in the usual way in the quarterly transparency returns, available here:
https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel. The next publication is due February 2022.
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will publish the itemised costs of his recent trip to California.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
The Chancellor was in the US on a long-planned business trip. He met with industry leaders from the tech and investment sectors to discuss the global economic recovery, investment in the UK, as well as the latest trends and innovations in the global tech sector.
The Chancellor travelled to San Francisco on Tuesday 14th December and departed on Thursday 16th December. The Chancellor returned to the UK earlier than planned.
The remainder of the information will be published in the usual way in the quarterly transparency returns, available here:
https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel. The next publication is due February 2022.
Asked by: Rushanara Ali (Labour - Bethnal Green and Bow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the dates of his recent (a) outbound and (b) return fights to California were.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
The Chancellor was in the US on a long-planned business trip. He met with industry leaders from the tech and investment sectors to discuss the global economic recovery, investment in the UK, as well as the latest trends and innovations in the global tech sector.
The Chancellor travelled to San Francisco on Tuesday 14th December and departed on Thursday 16th December. The Chancellor returned to the UK earlier than planned.
The remainder of the information will be published in the usual way in the quarterly transparency returns, available here:
https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel. The next publication is due February 2022.