Every parliamentary written question tabled by Mike Reader this session, with the full answer and department. See how every department answers, or back to the MP page.
Showing 1–10 of 10 · Treasury
Whether she has made an assessment of the potential merits of extending 0% VAT relief to clean heating technologies, including heat batteries.
The Government is supporting heat batteries by including them in the Boiler Upgrade Scheme, with a £2,500 grant to support homes that are not suitable for heat pumps. Heat batteries will become eligible once new product and installation standards are in p...
What assessment she has made of the potential merits of extending 0% VAT relief to clean heating technologies such as heat batteries, including on initial costs, the number of households adopting low-carbon heating
The Government is supporting heat batteries by including them in the Boiler Upgrade Scheme, with a £2,500 grant to support homes that are not suitable for heat pumps. Heat batteries will become eligible once new product and installation standards are in p...
Whether she has considered the potential merits of introducing support for food and drink manufacturers.
The Government recognises the important role that food and drink manufacturers play in growing our economy, accounting for £37 billion in Gross Value Added in 2023. We understand, and are taking seriously, the possible impacts of the conflict in the Middle East on the food sector. The Government has been meeting, and will continue to meet, with stakeholders to share intelligence, assess emerging pressures, and agree how we can keep our food sector resilient and stable.
Whether she has had discussions with the CMA9 banks on the potential impact of reported employment practices at Open Banking Limited on public and industry confidence in the Open Banking and Open Finance framework.
The Competition and Markets Authority (CMA) is responsible for ensuring that the obligations under Part 2 of the Retail Banking Market Investigation Order (the Order), and the accompanying Agreed Arrangements, are satisfied. The Government is aware that Open Banking Limited (OBL) has recently conducted a review of its settlement agreements and sought external legal advice to ensure that these are legally compliant. For the future, the Government has committed to establish a long-term regulatory framework to support the growth of UK Open Banking. This will provide the Financial Conduct Authority (FCA) with powers to regulate Open Banking – including FCA oversight of a so-called ‘Future Entity’ which will take on the functions currently carried out by OBL under the Order.Treasury officials are engaging with the CMA to inform the design of this future framework. In due course, the Government will consult on its legislative approach, including the powers it intends to provide the FCA to ensure it can effectively oversee the Open Banking ecosystem and its participants.
Whether her Department has held discussions with the Competition and Markets Authority on the adequacy of Open Banking Limited's governance and accountability arrangements in the context of its role in open banking or the open finance framework.
The Competition and Markets Authority (CMA) is responsible for ensuring that the obligations under Part 2 of the Retail Banking Market Investigation Order (the Order), and the accompanying Agreed Arrangements, are satisfied. The Government is aware that Open Banking Limited (OBL) has recently conducted a review of its settlement agreements and sought external legal advice to ensure that these are legally compliant. For the future, the Government has committed to establish a long-term regulatory framework to support the growth of UK Open Banking. This will provide the Financial Conduct Authority (FCA) with powers to regulate Open Banking – including FCA oversight of a so-called ‘Future Entity’ which will take on the functions currently carried out by OBL under the Order.Treasury officials are engaging with the CMA to inform the design of this future framework. In due course, the Government will consult on its legislative approach, including the powers it intends to provide the FCA to ensure it can effectively oversee the Open Banking ecosystem and its participants.
What steps her Department is taking to ensure that decisions relating to the future regulatory framework for Open Banking and Open Finance reflect high standards of governance, transparency, and employment protections.
The Competition and Markets Authority (CMA) is responsible for ensuring that the obligations under Part 2 of the Retail Banking Market Investigation Order (the Order), and the accompanying Agreed Arrangements, are satisfied. The Government is aware that Open Banking Limited (OBL) has recently conducted a review of its settlement agreements and sought external legal advice to ensure that these are legally compliant. For the future, the Government has committed to establish a long-term regulatory framework to support the growth of UK Open Banking. This will provide the Financial Conduct Authority (FCA) with powers to regulate Open Banking – including FCA oversight of a so-called ‘Future Entity’ which will take on the functions currently carried out by OBL under the Order.Treasury officials are engaging with the CMA to inform the design of this future framework. In due course, the Government will consult on its legislative approach, including the powers it intends to provide the FCA to ensure it can effectively oversee the Open Banking ecosystem and its participants.
What role her Department has in (a) monitoring and (b) supporting the governance and accountability of bodies established following Competition and Markets Authority remedies, where those bodies are funded by regulated firms including the CMA9 banks.
The Competition and Markets Authority (CMA) is responsible for ensuring that the obligations under Part 2 of the Retail Banking Market Investigation Order (the Order), and the accompanying Agreed Arrangements, are satisfied. The Government is aware that Open Banking Limited (OBL) has recently conducted a review of its settlement agreements and sought external legal advice to ensure that these are legally compliant. For the future, the Government has committed to establish a long-term regulatory framework to support the growth of UK Open Banking. This will provide the Financial Conduct Authority (FCA) with powers to regulate Open Banking – including FCA oversight of a so-called ‘Future Entity’ which will take on the functions currently carried out by OBL under the Order.Treasury officials are engaging with the CMA to inform the design of this future framework. In due course, the Government will consult on its legislative approach, including the powers it intends to provide the FCA to ensure it can effectively oversee the Open Banking ecosystem and its participants.
What assessment her Department has made of the potential impact of increasing pension fund investment in private markets and infrastructure on the economy.
In May, 17 of the largest workplace pension providers signed the Mansion House Accord and voluntarily committed to invest at least 10 per cent of their defined contribution main default funds in private markets by 2030, with at least half of that invested in the UK. This is expected to unlock £50 billion of additional private market investment by 2030, including £25 billion in the UK. As providers work towards meeting these commitments, they will be investing more in private assets such as infrastructure projects. Additionally, the measures in the Pension Schemes Bill, introduced in July, will ensure pension schemes have the scale and expertise to access these types of investment.
Whether the Office for Investment is taking to update its infrastructure pipeline portal; and whether his Department has made an assessment of the potential lessons learned from the (a) Australian, (b) New Zealand and (c) other international models of infrastructure pipeline portals.
The NISTA Infrastructure Pipeline was launched in July and plans to update the pipeline are outlined here: https://pipeline.nista.grid.civilservice.gov.uk/future. In developing the design of the Pipeline, NISTA drew on a broad range of industry feedback and examples, including from those outside the UK such as Australia and New Zealand. The Pipeline team will continue its active engagement of users to steer its design and ensure it improves through forthcoming iterations.
What assessment she has made of the potential merits of extending VAT relief to (a) heat batteries and (b) other new energy saving technologies that can help decarbonise homes when a heat pump cannot be installed.
The installation of qualifying energy-saving materials in residential accommodation and buildings used solely for a relevant charitable purpose benefits from a temporary VAT zero rate until March 2027. Last year, a Call for Evidence (CfE) seeking views on...