Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what discussions he has had with his US counterpart on (a) that country repealing its Foreign Account Tax Compliance Act and (b) exempting non-life insurance services from the remit of that Act.

As part of the process of reviewing the Inter-Governmental Agreement between the UK and the US that implements FATCA in the UK, my officials have raised a wide range of issues with the US Treasury and the IRS, including the obligations placed by the US on the non-life insurance industry.