Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the tax-free childcare scheme, how many user accounts have been closed as a result of inactivity in each of the last five years; and what proportion of those accounts concerned families where the children being claimed for were over the age of 11.
Answered by Simon Clarke
No Tax Free Childcare accounts have been closed due to inactivity over the past 5 years.
Accounts are only closed when a customer requests it or where remediation has occurred, for example to remove duplicate accounts.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will publish the (a) forecasted expenditure and (b) actual expenditure for the tax-free childcare scheme for financial year 2020-21.
Answered by Simon Clarke
At the Spring 2020 budget, the forecast expenditure for Tax-Free Childcare in 2020/21 was £0.34bn. Tax-Free Childcare expenditure in 2020/21 was £0.24bn.Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the total level of debt owed to buy now pay later firms at the end of (a) February 2021 and (b) August 2021.
Answered by John Glen
HM Treasury does not hold information on the number of people accessing financial products through Buy-Now-Pay-Later firms, the number of people referred to debt collection agencies by Buy-Now-Pay-Later firms, or the total level of debt owed to Buy-Now-Pay-Later firms.
On 2 February, the Government announced its intention to regulate Buy-Now-Pay-Later products. On 17 March, the Government tabled an amendment to the Financial Services Bill (now Act) to allow the Government to bring Buy-Now-Pay-Later products into the scope of FCA regulation in a proportionate way. Treasury and FCA are now working closely to publish a consultation document soon.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the number of people referred to debt collection agencies by buy now pay later firms in each of the last 12 months.
Answered by John Glen
HM Treasury does not hold information on the number of people accessing financial products through Buy-Now-Pay-Later firms, the number of people referred to debt collection agencies by Buy-Now-Pay-Later firms, or the total level of debt owed to Buy-Now-Pay-Later firms.
On 2 February, the Government announced its intention to regulate Buy-Now-Pay-Later products. On 17 March, the Government tabled an amendment to the Financial Services Bill (now Act) to allow the Government to bring Buy-Now-Pay-Later products into the scope of FCA regulation in a proportionate way. Treasury and FCA are now working closely to publish a consultation document soon.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the number of people accessing financial products through buy now pay later firms in each of the last 12 months.
Answered by John Glen
HM Treasury does not hold information on the number of people accessing financial products through Buy-Now-Pay-Later firms, the number of people referred to debt collection agencies by Buy-Now-Pay-Later firms, or the total level of debt owed to Buy-Now-Pay-Later firms.
On 2 February, the Government announced its intention to regulate Buy-Now-Pay-Later products. On 17 March, the Government tabled an amendment to the Financial Services Bill (now Act) to allow the Government to bring Buy-Now-Pay-Later products into the scope of FCA regulation in a proportionate way. Treasury and FCA are now working closely to publish a consultation document soon.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions his Department has had with the Competition and Markets Authority on the regulation of buy now pay later companies.
Answered by John Glen
Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at: HMT ministers' meetings, hospitality, gifts and overseas travel - GOV.UK (www.gov.uk)
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to protect consumers that purchase pre-paid funeral plans.
Answered by John Glen
I refer the Hon Member to the answer that I gave on 20 May to the Hon Member for South Holland and The Deepings to PQs UIN: 2183, 2184 and 2185.