Results 1–20 of 2404 for speaker:John Glen

Written Answers — Treasury: Public Works Loan Board (17 Oct 2019)

John Glen: The Government engages sector representatives in policy development where possible. It was not possible to do that in this case because the change was market sensitive. The Local Government Association was notified of the decision after markets closed on 8 October 2019.

Written Answers — Treasury: Public Works Loan Board (17 Oct 2019)

John Glen: In raising interest rates for new loans from the Public Works Loan Board, the Treasury assessed the potential impact on local government capital plans. This increase returned Public Works Loan Board rates to levels that were available in 2018. The Government will continue to work with individual authorities on a case-by-case basis if they raise concerns over their finance position.

Written Answers — Treasury: Cash Dispensing: Fees and Charges (17 Oct 2019)

John Glen: Following a Call for Evidence on Cash & Digital Payments, and in recognition of changing payment trends, the Government has set up the Joint Authorities Cash Strategy (JACS) Group. Chaired by the Treasury, this group brings together the key regulators to co-ordinate regulatory work to support nationwide cash access. The JACS Group is considering the whole end-to-end cash infrastructure, of...

Written Answers — Treasury: Equitable Life Assurance Society: Compensation (8 Oct 2019)

John Glen: There are no plans to reopen the Payment Scheme or review the £1.5 billion funding allocation previously made to it. The Equitable Life Payment Scheme closed to claims in 2015 and further guidance on the status of the Payment Scheme after closure is available at https://www.gov.uk/guidance/equitable-life-payment-scheme#cl osure-of-the-scheme.

Written Answers — Treasury: Inflation and Pay (8 Oct 2019)

John Glen: The fundamentals of the British economy are strong – wages are growing at the fastest rate in over a decade, employment is at a joint record high and the unemployment rate is at its lowest in over 40 years. Inflation has been at or around target since the start of 2019, and as a result wages have now outpaced inflation on a CPI basis for over a year. On 1 April 2019, we increased the...

Written Answers — Treasury: Bank of England: Public Appointments (7 Oct 2019)

John Glen: The process to appoint the next Governor of the Bank of England was launched in April. The process is on track. We will make an announcement in due course, ahead of the start of the next Governor’s term on 1 February 2020.

Written Answers — Treasury: Insurance (7 Oct 2019)

John Glen: HMT has been assessing the risk that a small minority of insurance payments from UK insurers into the EU may be delayed. While HMT is responsible for setting the policy direction, it is the role of the independent regulator – the Financial Conduct Authority (FCA) – to engage with industry and test firm planning. The FCA has made it clear to insurers and insurance intermediaries that...

Written Answers — Treasury: UK Debt Management Office (7 Oct 2019)

John Glen: The UK Debt Management Office runs the day-to-day-operations of the Public Works Loan Board on behalf of the Public Works Loan Commissioners. The following table details the amount the Public Works Loan Board has loaned to the City of York, Local authorities in Yorkshire and Humber, and Local Authorities in the UK, by year, in millions of pounds. £ millions 2010-11 2011-12...

Written Answers — Treasury: Women in Finance Charter (7 Oct 2019)

John Glen: HM Treasury’s Women in Finance Charter reflects our ambition to see an improved gender balance in the financial services industry. Charter signatories have committed to implement strategic actions to improve their gender balance at a senior level. To date, over 350 financial services firms have signed the Charter, covering over 800,000 people. Of these, around two thirds of signatories...

Written Answers — Treasury: Economic Situation (7 Oct 2019)

John Glen: We would prefer to leave with a deal, and we continue to work in an energetic and determined way to get that better deal. The Government is turbocharging preparations to ensure we are ready to leave with or without a deal on 31 October, and all necessary funds will be made available. The fundamentals of the British economy are strong – real wages are growing; employment is at a record...

Written Answers — Treasury: Banks: Investment (7 Oct 2019)

John Glen: The Companies, Partnerships and Groups (Accounts and Non-Financial Reporting) Regulations 2016 require banks to disclose the impact of their activities on social and environmental matters. In addition, the Government launched in July its Green Finance Strategy with the ambition to align private sector financial flows with clean, environmentally sustainable and resilient growth. In the...

Written Answers — Treasury: Banks (7 Oct 2019)

John Glen: HM Treasury does not hold this information. However, the House of Commons Library published a report on ‘Bank branch and ATM statistics’ on 17 May 2019 which includes helpful information on this topic, based on ONS data.

Written Answers — Treasury: Motor Vehicles: Insurance (7 Oct 2019)

John Glen: The FCA has published this month its interim report into General Insurance Pricing Practices. Consumers should always be able to get a fair deal and it is vital that the FCA comes to a solution that will achieve this important outcome as quickly as possible. It is for regulators to determine the powers they use to address problems in the markets they regulate. If needed, the Government has...

Written Answers — Treasury: North West: Industry (3 Oct 2019)

John Glen: The Government has been stepping up preparations for this outcome. We have made more than £8 billion available to prepare for EU Exit since the referendum, including £2.1 billion specifically for No Deal planning. The government is monitoring businesses and sectors which may be exposed to short-term difficulties as a result of EU Exit. We are considering how best to support businesses...

Written Answers — Treasury: Funerals: Pre-payment (3 Oct 2019)

John Glen: HM Treasury launched a call for evidence on the regulation of pre-paid funeral plans in June 2018. The call for evidence confirmed that consumer detriment is present in the pre-paid funeral plan sector and that there is broad demand for the sector to come under compulsory regulation. Consequently, the government intends to bring the pre-paid funeral plan market within the remit of the...

Written Answers — Treasury: Financial Institutions: Investment (3 Oct 2019)

John Glen: The government is committed to enhancing the stewardship role of financial institutions, in particular asset managers. This includes their responsibility to monitor and actively engage with the companies they invest in and hold such companies to account on material issues. The Financial Reporting Council (FRC) has consulted on a revised Stewardship Code which will set high expectations on...

Written Answers — Treasury: Brexit (3 Oct 2019)

John Glen: The Government’s preference is to leave the EU with a deal and is working in an energetic and determined way to get that deal. The Government has been stepping up preparations for leaving the EU. We have made more than £8 billion available to prepare for EU Exit since the referendum, including £2.1 billion specifically for No Deal planning. The fundamentals of the British economy are...

Written Answers — Treasury: Financial Services (3 Oct 2019)

John Glen: Working closely with the regulators, the government has legislated extensively to prepare for a No Deal. This includes the Temporary Permissions Regime (TPR) which will allow EEA firms currently passporting into the UK to continue doing so temporarily after Brexit, and a transitional power for regulators to phase in post-exit regulatory requirements for firms where they have changed as a...

Written Answers — Treasury: NoteMachine: Cash Dispensing (3 Oct 2019)

John Glen: The Government recognises that widespread free access to cash remains important to the day-to-day lives of many consumers in the UK. However, it is not appropriate for the Government to comment on individual contracts relating to ATM charges. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic. The Government-established Payment...

Written Answers — Treasury: Cash Dispensing (3 Oct 2019)

John Glen: The Government recognises the continued importance of free access to cash to the day-to-day lives of many consumers and businesses in the UK. The Government is engaging, and will continue to engage, with the regulators and industry on this important topic. LINK, the scheme that runs the UK’s ATM network, has publicly committed to maintain the broad geographic spread of ATMs and has put in...


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