Simon Kirby: The Government is determined that insurers should treat customers fairly and firms are required to do so under the current regulator, the Financial Conduct Authority. The Government keeps all policy under review and it will be for any new Government to set the direction of future policy on insurance premiums.
Simon Kirby: Section 75 of the Consumer Credit Act 1974 sets out the potential liability of creditors for breaches by suppliers in debtor-creditor-supplier agreements, so that credit card companies must take responsibility if a supplier cannot satisfy a consumer’s purchase. To fall within section 75, there has to be an agreement to finance a transaction between a debtor and a third party supplier and...
Simon Kirby: The government welcomes investment from investors all over the world, including Sovereign Wealth Funds.
Simon Kirby: The government welcomes investment from investors all over the world, including Sovereign Wealth Funds.
Simon Kirby: The National Infrastructure Delivery Plan set out the government’s plan for attracting inward investment through infrastructure development.
Simon Kirby: The UK is open to investment from all sources. There are well-developed markets for professional and financial advice that support this. There are no specific protections relating to sovereign wealth funds.
Simon Kirby: The future of our relationship with the European Banking Authority (EBA), and any potential effects on the wider banking sector relating to the location of EBA staff, is subject to the outcome of the withdrawal negotiations.
Simon Kirby: As at 31 December 2016, HM Treasury employed the following members on a contract: Contract type Number of employees Proportion of employees Fulltime Permanent 1074 89% Part-time Permanent 83 7% FTC less than 2 years 50 4% Details on the number of agency staff can be found in our Workforce Management Information which is published online and can be accessed via the...
Simon Kirby: The Office for Budget Responsibility (OBR) oversight board is made up of the Chair of the OBR, two members of the Budget Responsibility Committee (BRC) and two non-executive members. Appointments to the BRC are made by the Chancellor, subject to the consent of the Treasury Select Committee. When appointing executive members of the BRC, the Chancellor will consult with the Chair of the OBR....
Simon Kirby: The number of secondments to HM Treasury and the companies from which they came, as at 31st March 2017, can be found in the attached table: Table for 70959 (PDF Document, 15.52 KB)
Simon Kirby: HM Treasury has not made an analysis of the Government departments and agencies that apply a surcharge when customers make payments by credit card. However, from January 2018 the Payment Services Directive 2 (PSD2) introduces a ban on surcharging which means that retailers will no longer be able to charge consumers to use payment instruments for which interchange fees are regulated, which...
Simon Kirby: The Treasury does not hold a central budget for procurement management.
Simon Kirby: Local Trading Standards officers are not responsible for enforcing the Interchange Fee Regulation. The Payment Systems Regulator (PSR) is responsible for monitoring compliance with the interchange fee regulation in the UK and for taking enforcement action where appropriate.
Simon Kirby: 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:...
Simon Kirby: As part of its work to inform the government’s negotiating position, HM Treasury is engaging with a range of firms from across the financial services sector – including Lloyd’s of London – to understand their plans following the UK’s withdrawal from the EU. Lloyd’s estimates that the number of jobs moved will be “in the tens, not the hundreds”. The Government is confident...
Simon Kirby: All officials in the department have an ongoing responsibility for resolving Freedom of Information requests which fall within their policy area or remit. Officials are supported by a team of eight full time equivalents in the Information Rights Unit whose primary role is to oversee, coordinate and ensure the department’s obligations under the Freedom of Information Act are fulfilled.
Simon Kirby: The future of the European Banking Authority (EBA), and any potential effects on the wider banking sector relating to the location of EBA staff, is subject to the outcome of the withdrawal negotiations.
Simon Kirby: HM Treasury does not collect data on the level of personal debt relating to car purchases.
Simon Kirby: The Government is determined to make the UK a hostile environment for illicit finance and is making the biggest changes to our anti-money laundering and counter-terrorist financing regime in a decade. The Government announced in March that the Money Laundering Regulations 2017 will clarify that estate agents must undertake customer due diligence measures on purchasers as well as sellers in...
Simon Kirby: 8,499 passes are currently valid for the shared Government Offices Great George Street building.