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Written Question
Cryptocurrencies: Regulation
Tuesday 23rd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to help ensure that the new regulatory framework for crypto assets and stablecoins will (a) enhance the UK's global competitiveness in fintech and (b) protect consumers from the volatility and risks associated with digital currencies.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

  1. The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.
  2. In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.
  3. As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.
  4. In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.
Written Question
Cryptocurrencies
Tuesday 23rd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has made an estimate of (a) the role and (b) trends in the value of (i) bitcoin and (ii) other major cryptocurrencies in the economy in the next (A) five and (B) 10 years.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

  1. The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.
  2. In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.
  3. As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.
  4. In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.
Written Question
Cryptocurrencies and Blockchain
Tuesday 23rd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department has taken to support innovation in blockchain and cryptocurrency technologies while ensuring robust consumer protections.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

  1. The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.
  2. In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.
  3. As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.
  4. In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.
Written Question
Cryptocurrencies: Regulation
Tuesday 23rd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what regulatory measures are in place to ensure the stability and security of investments in cryptocurrencies; and whether any additional measures are being considered.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

  1. The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.
  2. In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.
  3. As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.
  4. In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.
Written Question
Cryptocurrencies
Tuesday 23rd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he plans to issue any (a) guidance or (b) resources to help potential investors understand the risks and benefits associated with cryptocurrency investments.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

  1. The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.
  2. In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.
  3. As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.
  4. In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.
Written Question
Israel Defense Forces: Private Military and Security companies
Tuesday 23rd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the Foreign, Commonwealth & Development Office:

To ask the Minister of State, Foreign, Commonwealth and Development Office, whether he plans to collect data on the number of UK citizens travelling to fight for the Israel Defence Force.

Answered by Andrew Mitchell - Minister of State (Foreign, Commonwealth and Development Office) (Minister for Development)

The UK recognises the right of British nationals with more than one nationality to serve in the legitimately recognised armed forces of their additional nationalities.

We are aware of reports of UK citizens travelling to fight for the Israel Defence Force (IDF), but the Government does not estimate the numbers of those who have done so.

Written Question
Holiday Accommodation: Planning Permission
Monday 22nd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, what criteria local authorities will be required to use in decision-making processes for granting planning permissions for short-term lets; whether these criteria will include an assessment of the potential impact of a proposal on (a) local housing need and (b) the community; and whether his Department plans to issue guidance to councils on adapting criteria to the unique circumstances of their localities.

Answered by Lee Rowley - Minister of State (Minister for Housing)

We set out our intention to take action on the issue of short-term lets in the Written Ministerial Statement (HCWS264) published on 19 February 2024. As stated, further details of the planning changes, including the timeline for implementation, will be set out when the Government formally responds to the consultation on these proposals.

Written Question
Holiday Accommodation: Planning Permission
Monday 22nd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the Department for Levelling Up, Housing & Communities:

To ask the Secretary of State for Levelling Up, Housing and Communities, when he plans to bring forward legislative proposals to require planning permission for properties rented out as short-term lets for more than 90 days per year; and if he will publish guidance on (a) how long properties should operate as short-term lets, (b) whether a minimum time limit will apply and (c) whether there will be any exemptions to these regulations.

Answered by Lee Rowley - Minister of State (Minister for Housing)

We set out our intention to take action on the issue of short-term lets in the Written Ministerial Statement (HCWS264) published on 19 February 2024. As stated, further details of the planning changes, including the timeline for implementation, will be set out when the Government formally responds to the consultation on these proposals.

Written Question
Electronic Travel Authorisations
Monday 22nd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the Home Office:

To ask the Secretary of State for the Home Department, whether he is taking steps to coordinate the rollout of the Electronic Travel Authorisation scheme with the (a) EU Entry/Exit System and (b) European Travel Information and Authorisation System.

Answered by Tom Pursglove - Minister of State (Minister for Legal Migration and Delivery)

The UK ETA scheme was launched on 25 October 2023, to secure our borders and make the UK safer. The rollout of the ETA scheme will continue in 2024.

The EU Entry/Exit System and ETIAS are EU schemes, with separate and distinct rollout schedules. We understand that the EU Entry/Exit System is due to be implemented in autumn 2024. The ETIAS scheme will follow in mid-2025, by which point it is the Government’s ambition to have concluded the roll out of the UK ETA scheme.

The UK Government has regular talks with the European Commission and EU member states at both political and official levels to manage the impact of the introduction of the EU Entry/Exit System and ETIAS for British Citizens.

Written Question
Shipping: Carbon Emissions
Monday 22nd April 2024

Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)

Question to the Department for Transport:

To ask the Secretary of State for Transport, if he will (a) develop and (b) implement an updated net zero shipping strategy.

Answered by Guy Opperman - Parliamentary Under-Secretary (Department for Transport)

The Department is actively preparing to release a refreshed Clean Maritime Plan in Spring 2024.