Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what representations he has made to his counterpart in the US on the effect on UK financial services businesses of complying with the US Foreign Account Tax Compliance 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.