Treasury Committee: Formal Minutes 2017 19...Treasury Committee: Formal Minutes 2017–19 Thursday...

Treasury Committee: Formal Minutes 2017–19

Thursday 14 September 2017

Members present:

Nicky Morgan, in the Chair1

Charlie Elphicke Stephen Hammond Mr Alister Jack Kit Malthouse

John Mann Alison McGovern Catherine McKinnell

1. Declaration of interests

Members declared their interests, in accordance with the Resolution of the House of 13 July 1992

(for details of declarations of interests, see Appendix I).

2. Committee’s working methods

Ordered, That the public be admitted during the examination of witnesses unless the Committee

orders otherwise.

Resolved, That witnesses who submit written evidence to the Committee are authorised to publish

it on their own account in accordance with Standing Order No. 135, subject always to the

discretion of the Chair or where the Committee orders otherwise.

Resolved, That the Committee shall not consider individual cases.

3. Sub-Committee

Ordered, That a Sub-Committee be appointed to consider HM Revenue and Customs and other

associated bodies of HM Treasury.

Ordered, That all the members of the Committee be members of the Sub-Committee.

Ordered, That John Mann be Chair of the Sub-Committee.

Ordered, That the Chair have leave to report from time to time evidence taken before the Sub-

Committee.

4. Future Programme

The Committee considered this matter.

Resolved, That the Committee inquire into the HMRC Annual Report and Accounts.

1

https://publications.parliament.uk/pa/cm201719/cmvote/170712v01.html

https://publications.parliament.uk/pa/cm201719/cmvote/170712v01.html

Resolved, That the Committee inquire into EU Insurance Regulation.

5. Correspondence

Ordered, That the following correspondence be reported to the House for publication on the

internet:

HM Treasury to previous Chair: RBS’ state aid commitments (dated 21 April 2017)

HM Treasury to Clerk: Appointment of new MPC member (dated 19 June 2017)

Chair to PRA: Contingency plans (dated 24 July 2017)

Chair to HMRC: Childcare Service website (dated 24 July 2017)

Chair to Prime Minister: Economic Crime Review (dated 24 July 2017)

HM Treasury to Chair: Appointment of BoE Deputy Governor (dated 26 July 2017)

HM Treasury to Chair: RBS’ state aid commitments (dated 27 July 2017)

PRA to Chair: Contingency plans (dated 2 August 2017)

HMRC to Chair: Childcare Service website (dated 17 August 2017)

Prime Minister to Chair: Economic Crime Review (dated 22 August 2017)

Chair to FCA: GRG (dated 4 September 2017)

Chair to FCA: Saudi Aramco (dated 5 September 2017)

Chair to VOA: Staircase Tax (dated 5 September 2017)

FCA to Chair: GRG (dated 11 September 2017)

HMRC to Chair: Customs Declaration Service (dated 12 September 2017)

Chair to HM Treasury: Insurance contracts (dated 14 September 2017)

6. EU Insurance Regulation

Ordered, That Ian Dilks, Ian Marshall and David Murray be appointed Specialist Advisers to

assist the Committee in matters related to EU Insurance Regulation (for details of declarations of

interests, see Appendix II).

Ordered, That the written evidence relating to EU Insurance Regulation submitted by Legal and

General Group Plc be reported to the House for publication on the internet.

7. HMRC Annual Report and Accounts

Jon Thompson, Chief Executive and Permanent Secretary, Jim Harra, Tax Assurance

Commissioner, Director General Customer Strategy and Tax Design and·Nick Lodge, Director

General, Transformation, HM Revenue and Customs gave oral evidence.

[Adjourned till Wednesday 11 October at 9.15 a.m.

Wednesday 11 October 2017

Members present:

Nicky Morgan, in the Chair

Rushanara Ali Charlie Elphicke Stephen Hammond Stewart Hosie Mr Alister Jack

Alison McGovern Catherine McKinnell Kit Malthouse John Mann Wes Streeting


Rushanara Ali, Stewart Hosie and Wes Streeting declared their interests, in accordance with the

Resolution of the House of 13 July 1992 (for details of declarations of interests, see Appendix I).

2. Future Programme


Resolved, That the Committee inquire into the work of the Chancellor of the Exchequer.

Resolved, That the Committee inquire into the appointment of Sir Dave Ramsden as Deputy

Governor for Markets and Banking at the Bank of England.

Resolved, That the Committee inquire into the appointment of Professor Silvana Tenreyro to the

Bank of England Monetary Policy Committee.

Resolved, That the Committee inquire into the work of the Bank of England.

Resolved, That the Committee inquire into Student Loans.

Charlie Elphicke declared a non-pecuniary interest in relation to the inquiry into Student Loans as

his wife, Natalie Elphicke OBE, is a director of the Student Loans Company (and an independent

external advisor to the Department of Education's audit & risk committee); and declared that he

would take no further part in the inquiry.

Ordered, That Andrew Green QC and Fraser Campbell be appointed Specialist Advisers to the

Committee (for details of declarations of interests, see Appendix II).

3. Correspondence


internet:

Chief Executive of VOA to Chair: Staircase Tax (dated 13 September 2017)

Chancellor to Chair: Brexit and Insurance Contracts (dated 20 September 2017)

Chancellor to Chair: RBS State Aid Commitments (dated 20 September 2017)

Chancellor to Chair: HMT/Bank of England MoU (dated 29 September 2017)

HMRC to Chair: Tax-Free Childcare Compensation (dated 4 October 2017)

FCA to Chair and Chair BEIS Committee: Saudi Aramco (dated 6 October 2017)


Ordered, That the following correspondence relating to EU Insurance Regulation be reported to

the House for publication on the internet:

Chair to Chief Executive officer of the PRA (dated 7 September 2017)

Chief Executive officer of the PRA to Chair (dated 22 September 2017)

5. The work of the Chancellor of the Exchequer

The Rt Hon Philip Hammond MP, Chancellor of the Exchequer and Katharine Braddick, Director

General, Financial Services, HM Treasury gave oral evidence.

[Adjourned till Tuesday 17 October at 9.00 a.m.

Tuesday 17 October 2017

Members present:


Rushanara Ali Charlie Elphicke Stewart Hosie Mr Alister Jack Alison McGovern

Catherine McKinnell Kit Malthouse John Mann Wes Streeting

1. Skilled person’s report into the Royal Bank of Scotland’s Global Restructuring Group



internet:

Chief Executive of the FCA to Chair (dated 16 October 2017)

Chair to Chief Executive of the FCA (dated 17 October2017)

2. Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking, Bank

of England

Ordered, That the following written evidence relating to the Appointment of Sir Dave Ramsden

as Deputy Governor for Markets and Banking, Bank of England be reported to the House for

publication:

Sir Dave Ramsden CV (ADR0001)

Sir Dave Ramsden questionnaire (ADR0002)

Sir Dave Ramsden, Deputy Governor for Markets and Banking, Bank of England gave oral

evidence.

3. Appointment of Professor Silvana Tenreyro to the Bank of England Monetary Policy

Committee

Ordered, That the following written evidence relating to the Appointment of Professor Silvana

Tenreyro to the Bank of England Monetary Policy Committee be reported to the House for

publication:

Professor Silvana Tenreyro CV (AST0001)

Professor Silvana Tenreyro questionnaire (AST0002)

Professor Silvana Tenreyro, Member of the Monetary Policy Committee, Bank of England gave

oral evidence.

4. Work of the Bank of England

Dr Mark Carney, Governor, Bank of England gave oral evidence.

[Adjourned till Wednesday 18 October at 2.00 p.m.


Members present:


Rushanara Ali Charlie Elphicke Stephen Hammond Mr Alister Jack

Kit Malthouse John Mann Wes Streeting

1. Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking, Bank

of England

Draft Report (Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking,

Bank of England), proposed by the Chair, brought up and read.

 

The draft Report was agreed to; the Formal Minutes relating to the consideration of the Report

are published with the First Report of the Committee, HC 472.

2. Appointment of Professor Silvana Tenreyro to the Bank of England Monetary Policy

Committee

Draft Report (Appointment of Professor Silvana Tenreyro to the Bank of England Monetary Policy

Committee), proposed by the Chair, brought up and read.


are published with the Second Report of the Committee, HC 471.

Written evidence was ordered to be reported to the House for printing with the Report:

Professor Silvana Tenreyro CV

3. Correspondence


internet:

Chair to Chancellor of the Exchequer: Student Loans (dated 11 October 2017)

Chancellor of the Exchequer to Chair: Student Loans (dated 16 October 2017)

4. Future Programme


Resolved, That the Committee inquire into the work of the Financial Conduct Authority.

Resolved, That the Committee inquire into work of the National Infrastructure Commission.

Resolved, That the Committee inquire into women in finance.

Resolved, That the Committee inquire into the UK’s economic relationship with the European

Union.

Resolved, That the Committee inquire into household finances: income, savings and debt.

5. Sub-Committee


Resolved, That the Sub-Committee inquire into the work of the Money Advice Service.

Resolved, That the Sub-Committee inquire into HMRC Transformation Programme.

6. Student Loans

Dr Helen Carasso, Author and Lecturer in Higher Education, Department for Education

University of Oxford and Andrew McGettigan, Author and Lecturer gave oral evidence.



Members present:


Rushanara Ali Stephen Hammond Stewart Hosie Mr Alister Jack

Catherine McKinnell Kit Malthouse John Mann

1. Future Programme


2. Women in Finance

Jayne-Anne Gadhia, CEO, Virgin Money and Government Women in Finance Champion gave

oral evidence.



Members present:





Draft Report (EU Insurance Regulation), proposed by the Chair, brought up and read.


are published with the Third Report of the Committee, HC 324.

2. Work of the Financial Conduct Authority

Ordered, That the written evidence relating to Work of the Financial Conduct Authority submitted

by the Financial Services Consumer Panel (FCA0001) be reported to the House for publication

on the internet.

3. Correspondence


internet:

Chief executive of the FCA to Chair: GRG and Connaught (dated 1 August 2017)

4. The UK's economic relationship with the European Union

Sir Ivan Rogers, former Permanent Representative of the United Kingdom to the European Union,

Professor Catherine Barnard, Professor of European Union Law, University of Cambridge, and

Professor Sir Alan Dashwood QC, Barrister, Henderson Chambers and former Director, Council

of the European Union Legal Service gave oral evidence.



Members present:


Rushanara Ali Charlie Elphicke Stephen Hammond Stewart Hosie Alison McGovern


1. Future Programme


Resolved, That the Sub-Committee visit Cardiff, in connection with its inquiry into the Work of

the Money Advice Service.


Ordered, That the written evidence relating to the work of the Financial Conduct Authority

submitted by Andrew Green QC (FCA0003) be reported to the House for publication on the

internet.

3. Correspondence


internet:

Previous Chair to Chief Executive of the Financial Conduct Authority: Accessible formats

provided by financial institutions (dated 31 October 2016)

Chief Executive of the Financial Conduct Authority to Previous Chair: Accessible formats

provided by financial institutions (dated 2 February 2017)

European President of Equifax Limited to Chair: Cyber-security breach at Equifax (dated

23 October 2017)

Chief Executive of the Financial Conduct Authority to Chair: Cyber-security breach at

Equifax (dated 24 October 2017)

Chief Executive of the Financial Conduct Authority to Chair: Indebtedness among young

people (dated 25 October 2017)

Chief Executive of Royal Bank of Scotland Group to Chair: Report into the Royal Bank

of Scotland’s Global Restructuring Group (dated 30 October 2017)


Andrew Bailey, Chief Executive and John Griffith-Jones, Chairman, Financial Conduct Authority

gave oral evidence.

Wednesday 1 November 2017

Members present:


Rushanara Ali Charlie Elphicke Stephen Hammond Stewart Hosie

Mr Alister Jack Alison McGovern Kit Malthouse

1. Correspondence


internet:

Chancellor of the Exchequer to Chair: Diversity of appointments to senior roles at the

Bank of England (dated 26 October 2017)

Chancellor of the Exchequer to Chair: Work of the Chancellor of the Exchequer (dated 26

October 2017)

Permanent Secretary to the Treasury to Chair: Gender pay gap at HMT (dated 30 October

2017)


Sir Amyas Morse, Comptroller and Auditor General, National Audit Office gave oral evidence.

[Adjourned till Tuesday 7 November at 9.45 a.m.

Tuesday 7 November 2017

Members present:


Stewart Hosie Catherine McKinnell

Kit Malthouse Wes Streeting

1. Future Programme


2. Correspondence


internet:

Chancellor of the Exchequer to Chair: Appointment of Elisabeth Stheeman to the

Financial Policy Committee (dated 2 November 2017)

3. The work of the National Infrastructure Commission

The Rt Hon. the Lord Adonis, Chair, Sir John Armitt, Deputy Chair, and Phil Graham, Chief

Executive, National Infrastructure Commission gave oral evidence.



Members present:




1. Future Programme


Resolved, That the Committee inquires into Bank of England Inflation Reports.

Resolved, That the Sub-Committee inquires into the Work of the Crown Estate.

2. Correspondence


internet:

Chancellor to Chair: Bilateral loan to Ireland (dated 1 November 2017)

Chair to Financial Secretary to the Treasury: “Making Tax Policy Better” (dated 7

November 2017)


Ordered, That the written evidence relating to the UK's economic relationship with the European

Union submitted by Sir Alan Dashwood (EUN0003) be reported to the House for publication on

the internet.

4. Household finances: income, savings and debt

Ashwin Kumar, Chief Economist, Joseph Rowntree Foundation, Michael Johnson, Research

Fellow, Centre for Policy Studies, and Torsten Bell, Director, Resolution Foundation gave oral

evidence.

[Adjourned till Wednesday 15 November at 9.45 a.m.


Members present:


Rushanara Ali Stewart Hosie Mr Alister Jack

Catherine McKinnell Kit Malthouse Wes Streeting

1. Correspondence


internet:

European President of Equifax Ltd to Chair: Telephone helpline (dated 7 November 2017)

Chief Executive of HMRC to Chair: Appointment of Second Permanent Secretary (dated

13 November)


Ian Howells, Senior Vice President, Honda Motor Europe, and Allie Renison, Head of Europe

and Trade Policy, Institute of Directors; Martin McTague, Policy Director, Federation of Small

Businesses, Nana Evans, Fashion Designer, Neil Warwick, Partner, Square One Law, and Will

Butler-Adams, Managing Director, Brompton Bicycle Ltd gave oral evidence.



Members present:




1. Future Programme


Resolved, That the Committee inquire into the Budget: Autumn 2017.

2. Bank of England Inflation Reports

Ordered, That the following written evidence be reported to the House for publication on the

internet:

Ian McCafferty: Annual Report (November 2017)

Dr Gertjan Vlieghe: Annual Report (November 2017)

Michael Saunders: Annual Report (November 2017)

Sir Jon Cunliffe: Annual Report (November 2017)

Sir Jon Cunliffe, Deputy Governor, Financial Stability, Ian McCafferty, Member of the Monetary

Policy Committee, Dr Gertjan Vlieghe, Member of the Monetary Policy Committee and Michael

Saunders, Member of the Monetary Policy Committee, Bank of England gave oral evidence.



Members present:


Rushanara Ali Charlie Elphicke Stephen Hammond Mr Alister Jack Alison McGovern



Wes Streeting amended his declaration of interests of 11 October 2017 (for details of declarations

of interests, see Appendix I).

2. Future Programme


Resolved, That the Sub-Committee visit Nottingham, in connection with its inquiry into the

HMRC Transformation Programme.

3. Correspondence


internet:

Financial Secretary to the Treasury to Chair: Scrutiny of the Finance Bill (dated 23

November 2017)

Chief Executive of the FCA to Chair: RBS Global Restructuring Group (dated 28

November 2017)

3. Budget: Autumn 2017

Ordered, That the following written evidence relating to Budget: Autumn 2017 be reported to the

House for publication:

Prime Economics (TAB0001)

National Institute of Economic and Social Research (TAB0002)

David Orr, Chief Executive, National Housing Federation, Brian Berry, Chief Executive,

Federation of Master Builders, and Clr Nick Forbes, Senior Vice Chair, Local Government

Association gave oral evidence.

[Adjourned till Wednesday 29 November at 2.00 p.m.


Members present:



Catherine McKinnell Kit Malthouse Wes Streeting

1. Correspondence


internet:

Permanent Secretary to the Treasury to Chair: Delay in publishing HMT’s Gender Pay

statistics (dated 27 November 2017)

Chancellor to Chair: Diversity at the Bank of England (dated 28 November 2017)

2. Sub-Committee

Ordered, That the written evidence relating to the HMRC Transformation Programme submitted

by HMRC (HTP0001) be reported to the House for publication on the internet.


Ordered, That the written evidence relating to Budget: Autumn 2017 submitted by National

Institute of Economic and Social Research be reported to the House for publication on the internet.

Ann Pettifor, Director, Prime Economics, Professor Jagjit Chadha, Director, National Institute of

Economic and Social Research, and Paul Johnson, Director, Institute for Fiscal Studies gave oral

evidence.

[Adjourned till Thursday 30 November at 9.30 a.m.

Thursday 30 November 2017

Members present:


Rushanara Ali Charlie Elphicke Stewart Hosie


1. Future Programme

Resolved, That the Committee inquire into the FRC’s Report on its enquiries and investigation of

KPMG’s 2007 and 2008 audits of HBOS.


Ordered, That the written evidence relating to Budget: Autumn 2017 submitted by Economists for

Free Trade be reported to the House for publication on the internet.

Robert Chote, Chairman, Graham Parker, Member of Budget Responsibility Committee and

Professor Sir Charles Bean, Member of Budget Responsibility Committee, Office for Budget

Responsibility gave oral evidence.

[Adjourned till Tuesday 5 December at 9.45 a.m.

Tuesday 5 December 2017

Members present:



In the absence of the Chair, John Mann was called to the chair.

1. Correspondence


internet:

Letter from Chief Executive of HMRC to Chair: Appointment of Second Permanent

Secretary (dated 30 November 2017)

Letter from Managing Director of Payment Systems Regulator to Chair: Accessibility to

cash machines (dated 30 November 2017)

Letter from Chairman of LINK Scheme to Chair: Accessibility to cash machines (dated

30 November 2017)


Ordered, That the following written evidence relating to the Budget: Autumn 2017 be reported to


Chartered Institute of Taxation (TAB0004)

Association of Chartered Certified Accountants (TAB0005)

Institute of Chartered Accountants in England and Wales (TAB0006)

Andrew Courts, Member, Global Forum for Taxation, Association of Chartered Certified

Accountants, Frank Haskew, Head of Tax Faculty, Institute of Chartered Accountants in England

and Wales, and Ray McCann, Deputy President, Chartered Institute of Taxation gave oral

evidence.

[Adjourned till Wednesday 6 December at 1.45 p.m.

Wednesday 6 December 2017

Members present:


Rushanara Ali Stephen Hammond Stewart Hosie Mr Alister Jack Alison McGovern


1. Future Programme


Resolved, That the Committee visit New York City and Washington D.C. in April 2018 in

connection with its inquiries into the work of the Financial Conduct Authority, the work of the

Bank of England and the Committee’s ongoing scrutiny of HM Treasury and that the Chair seek

the approval of the Liaison Committee for expenditure in connection with the visit.

2. Correspondence


internet:

Correspondence from the Chief Secretary to the Treasury relating to OBR forecasting of

potential future payments to the European Union (dated December 2017)

3. The UK’s economic relationship with the European Union

Ordered, That the following written evidence relating to The UK’s economic relationship with the

European Union be reported to the House for publication on the internet:

National Farmers’ Union (EUN0002)

UK Trade Policy Observatory (EUN0004)

UK Finance (EUN0005)

Centre for European Legal Studies, University of Cambridge (EUN0006)

Zurich Insurance (EUN0007)

City of London Corporation (EUN0008)

Personal Investment Management & Financial Advice Association (EUN0009)

EEF, the manufacturers’ organisation (EUN0010)

Honda Motor Europe (EUN0011)


Rt Hon. Philip Hammond MP, Chancellor of the Exchequer, and Clare Lombardelli, Director,

Strategy, Planning and Budget, HM Treasury gave oral evidence.



Members present:




1. Student Loans

Ordered, That the following written evidence relating to Student Loans be reported to the House

for publication on the internet:

Ajepco Ltd (STL0019)

Association of Colleges (STL0014)

Birkbeck, University of London (STL0024)

College of Podiatry (STL0017)

ELATT (STL0025)

Harriet Alexander and Kate Tullberg (STL0010)

Iain Clarke-Coast (STL0016)

Institute for Fiscal Studies (STL0013)

London South Bank University (STL0020)

MillionPlus (STL0018)

Miss Abbie Pickering (STL0008)

Mr Andrew Ritchie (STL0021)

Mr Owen Clemett (STL0006)

Mr Paul Moore (STL0002)

Mr Raj Sankreacha (STL0015)

Nelson College London (STL0012)

Nicholas Bridal (STL0005)

Professor Michael Larkin (STL0007)

Prof Rt Hon. John Denham (STL0028)

Sam Brook (STL0023)

Solicitor Estelle Clarke (STL0009 & STL0011)

UK Statistics Authority / Office for National Statistics (STL0027)

Universities UK (STL0026)


Draft Report (Transitional arrangements for exiting the European Union), proposed by the Chair,

brought up and read.

 


are published with the Fourth Report of the Committee, HC 473.



Members present:


Rushanara Ali Mr Alister Jack Catherine McKinnell

Kit Malthouse John Mann Wes Streeting

1. Student Loans

The Rt Hon. the Lord Willetts, Lord Browne of Madingley, and Rt Hon. Professor John Denham;

Professor Janet Beer, President, Universities UK, Amatey Doku, Vice President, Higher

Education, National Union of Students, and Professor Mark E. Smith, Lancaster University gave

oral evidence.



Members present:



Alison McGovern Kit Malthouse John Mann Wes Streeting

1. Future Programme


Resolved, That the Committee inquire into Bank of England Financial Stability Reports.

2. Household finances: income, savings and debt

Ordered, That the Chair and John Mann have leave to visit Nottingham in a representative

capacity for the purposes of the Committee’s inquiry into household finances.

3. Correspondence


internet:

Economic Secretary to the Treasury to Chair: Financial Services EU Exit (dated 12

December)

Permanent Secretary to the Treasury to Chair: HMT gender pay gap (dated 18 December)

Letter from Managing Director of the Payments Systems Regulator to Chair: Potential

impact of the LINK Board’s proposal to reduce interchange fees (dated 30 November

2017)

4 Student Loans

Jo Johnson, Minister for Universities, Science, Research and Innovation, and Matt Toombs,

Director of Student Finance and Analysis, Department for Education gave oral evidence.



Members present:


Rushanara Ali Stephen Hammond Stewart Hosie Alison McGovern


1. Future Programme


Resolved, That the Committee inquire into Childcare.

2 Student Loans


internet:

University of Derby (STL0037)

Mr Alan Capps (STL0036)

Open University (STL0032)

Professor Andy Green and Professor Geoff Mason (STL0031)

3. Budget Autumn 2017

Ordered, That the written evidence relating to Budget Autumn 2017 submitted by HM Treasury

(TAB0007) be reported to the House for publication on the internet.

4. Correspondence


internet:

Chief Executive of the National Infrastructure Commission to Chair: Gender pay gap at

the NIC (dated 19 December 2017)

5. Sub-Committee


Resolved, That the Sub-Committee inquire into the Work of the Financial Ombudsman Service.

5. Bank of England Financial Stability Reports

Dr Mark Carney, Governor, Bank of England, Sam Woods, Deputy Governor for Prudential

Regulation and Chief Executive Officer of the Prudential Regulation Authority, Richard Sharp,

Member of the Financial Policy Committee, Bank of England, and Donald Kohn, Member of the

Financial Policy Committee, Bank of England gave oral evidence.


Dr Mark Carney, Governor, Bank of England, Sam Woods, Deputy Governor for Prudential

Regulation and Chief Executive Officer of the Prudential Regulation Authority, Richard Sharp,

Member of the Financial Policy Committee, Bank of England, and Donald Kohn, Member of the

Financial Policy Committee, Bank of England gave oral evidence.

[Adjourned till Tuesday 9 January at 9.45 a.m.

Tuesday 9 January 2018

Members present:


Rushanara Ali Stephen Hammond Stewart Hosie Mr Alister Jack Alison McGovern


1. Future Programme


2. Correspondence


internet:

Chief Executive of HMRC to John Mann: Follow up to oral evidence (dated 20 December

2017)

3. Student Loans


internet:

Allied Health Professions Federation (STL0045)

Chartered Society of Physiotherapy (STL0039)

Dr Adele Langlois (STL0041)

Miss Sophie Roberts (STL0044)

Money Advice Service (STL0042)

MoneySavingExpert (STL0046)

Russell Group (STL0038)

Sutton Trust (STL0033)

University and College Union (STL0043)

University of Central Lancashire (STL0040)

4. Women in Finance


internet:

Addidi Wealth Limited (WFN0014)

Association of Accounting Technicians (AAT) (WFN0001)

Association of British Insurers (WFN0013)

Aviva plc (WFN0010)

Barclays Bank (WFN0005)

City Hive - Women in Asset and Investment Management (WFN0006)

Deloitte (WFN0012)

E2W Limited (WFN0003)

Investment Association (WFN0015)

National Skills Academy for Financial Services (WFN0002)

Pension Insurance Corporation (WFN0004)

PricewaterhouseCoopers LLP (WFN0008)

TSB Bank (WFN0016)

Unum (WFN0007)

Virgin Money (WFN0011)

Zurich Insurance Plc (WFN0009)

Jon Terry, Partner, PricewaterhouseCoopers, Michael Henning, Head of Investment, Mason

Blake, and Kate Grussing, Founder and Managing Director, Sapphire Partners gave oral evidence.



Members present:



Mr Alister Jack Catherine McKinnell John Mann Wes Streeting



internet:

Correspondence from HM Treasury: Treasury response to the Committee’s report on The

Solvency II Directive and its impact on the UK insurance industry

Correspondence from the Chief Executive of the Prudential Regulation Authority: PRA’s

interim response to the Committee’s report on The Solvency II Directive and its impact

on the UK insurance industry

2. Student Loans



Royal Statistical Society (STL0047)

Office for National Statistics (STL0048)

3. The work of the Prudential Regulation Authority

Sam Woods, Deputy Governor for Prudential Regulation and Chief Executive Officer of the

Prudential Regulation Authority, Sandra Boss, External Member, Prudential Regulation

Committee, and Mark Yallop, External Member, Prudential Regulation Committee gave oral

evidence.

[Adjourned till Wednesday 17 January at 2.00 p.m.

Wednesday 17 January 2018

Members present:



Mr Alister Jack Alison McGovern Catherine McKinnell John Mann

1. Future Programme

Resolved, That the Committee inquire into RBS's Global Restructuring Group and its treatment

of SMEs.

2. RBS's Global Restructuring Group and its treatment of SMEs

Ordered, That the written evidence relating to RBS's Global Restructuring Group and its treatment

of SMEs submitted by RBS (RBS0001) be reported to the House for publication on the internet.


Draft Report (Budget Autumn 2017), proposed by the Chair, brought up and read.

 


are published with the Fifth Report of the Committee, HC 600.



Members present:



Alison McGovern Catherine McKinnell John Mann

1. Future Programme


Resolved, That the Committee inquire into HM Treasury Annual Report and Accounts.

2. Correspondence


internet:

Chancellor of the Exchequer to Chair: Appointment of NIC Chair (dated 17 January 2018)

3. Women in finance

Ordered, That the following written evidence relating to Women in Finance be reported to the


Chartered Insurance Institute (WFN0018)

Mason Blake (WFN0019)

The Return Hub (WFN0017)

4. Student Loans


for publication:

Leeds University Union (STL0049)

5. Work of the Payment System Regulator

Ordered, That the following written evidence relating to the Work of the Payment System

Regulator be reported to the House for publication:

Payment Systems Regulator (PSR0001)

Hannah Nixon, Managing Director, Payment Systems Regulator and John Griffith-Jones,

Chairman, Payment Systems Regulator gave oral evidence.


Members present:



Alison McGovern Catherine McKinnell Wes Streeting

1. HM Treasury Annual Report and Accounts.

Tom Scholar, Permanent Secretary, HM Treasury, Sophie Dean, Finance Director, HM Treasury,

and Charles Roxburgh, Second Permanent Secretary, HM Treasury gave oral evidence.



Members present:




1. Future Programme

Resolved, That the Committee inquire into SME Finance.

2. Correspondence


internet:

Chief Executive of the FCA to Chair: Consultation Paper: Access to redress for small and

medium-sized enterprises (dated 22 January 2018)


Tony Boorman, Managing Director, Promontory Financial Group; Ross McEwan, Chief

Executive, RBS, and Sir Howard Davies, Chairman, RBS gave oral evidence.



Members present:


Rushanara Ali Mr Alister Jack

Catherine McKinnell Wes Streeting

1. Household finances: income, saving and debt

Ordered, That the following written evidence relating to Household finances: income, saving and

debt be reported to the House for publication on the internet:

AXA UK (HHF0033)

Citizens Advice (HHF0039)

Citizens Advice Scotland (HHF0018)

Consumer Finance Association (HHF0012)

Deborah Harper (HHF0004)

Dr John Gathergood (HHF0001)

Dr S R Hubbard and C J Hipperson (HHF0022)

End Child Poverty coalition (HHF0008)

Equity Release Council (HHF0021)

Fairbanking Foundation (HHF0040)

Finance & Leasing Association (HHF0013)

Financial Services Consumer Panel (HHF0023)

Generation Rent (HHF0041)

Hargreaves Lansdown (HHF0015)

Institute and Faculty of Actuaries (HHF0014)

International Longevity Centre UK (HHF0037)

Just Group (HHF0029)

LEBC Group Ltd (HHF0032)

Mastercard (HHF0027)

Money Advice Service (HHF0020)

Money Advice Trust (HHF0042)

National Energy Action (HHF0016)

National Skills Academy for Financial Services HHF0003)

NOW: Pensions (HHF0024)

Office for National Statistics (HHF0002)

Pensions Advisory Service (HHF0046)

Personal Finance Research Centre (HHF0006)

Professor Iain Ramsay (HHF0043)

Prudential (HHF0035)

Relate (HHF0011)

Responsible Finance (HHF0010)

StepChange Debt Charity (HHF0009)

The Children's Society (HHF0045)

The Low Incomes Tax Reform Group (HHF0036)

The Open University (HHF0030)

TISA (HHF0034)

Toynbee Hall (HHF0044)

Trades Union Congress (HHF0038)

True Potential LLP (HHF0017)

UK Finance (HHF0028)

Young Money (HHF0007)

Zurich Insurance (HHF0031)

2. Correspondence


internet:

Chief Executive of the FCA to Chair: PRA/FCA Investigations into certain former Senior

Managers of HBOS (dated 19 January 2018)

Chief Executive of HMRC to Chair: Future of the UK’s VAT regime (dated 18 January

2018)

Chancellor to Chair: EU withdrawal financial settlement (dated 25 January)

3. Childcare

Ordered, That the following written evidence relating to Childcare be reported to the House for

publication on the internet:

Employers for Childcare (CHI0009)

Funcare Ltd (CHI0007)

Mr Andrew Shimmin (CHI0006)

Mr John O'Neill (CHI0002)

Mrs Lydia Keyte (CHI0004)

Mrs Stella Tidman (CHI0003)

Mrs Zoe Williams (CHI0005)

Rt Hon. Elizabeth Truss MP, Chief Secretary to the Treasury, Beth Russell, Director General (Tax

and Welfare), HM Treasury, and Nick Lodge, Director General (Transformation), HMRC gave

oral evidence.

[Adjourned till Tuesday 6 February at 9.45 a.m.

Tuesday 6 February 2018

Members present:




1. Childcare



British Au Pair Agencies Association (CHI0010)

Cambridge Day Nursery (CHI0014)

Fideliti Limited (CHI0013)

The Heathers Nursery (CHI0015)

Mrs Kim Barnetson (CHI0012)

Mrs Lynsey Kelleher (CHI0011)

T Creasser (CHI0008)

2. The Work of the Financial Conduct Authority

Ordered, That the written evidence relating to the Work of the Financial Conduct Authority

submitted by the Financial Conduct Authority be reported to the House for publication on the

internet.

3. Correspondence


internet:

FCA to Chair: Leaking of ONS Statistics (dated 1 August 2017)

FCA to Chair: Commercial Credit Data Sharing scheme (dated 24 January 2018)

FCA to Chair: Powers and perimeter (dated 30 January 2018)

FCA to Chair: follow-up on meeting of 31 October (dated 20 November)

FCA to Chair: Free Float Requirement (5 December)

Payment Systems Regulator to Chair: Key requirements of LINK (dated 31 January 2018)

Chancellor to Chair: Appointment of Dr Gertjan Vlieghe to the MPC (dated 30 January

2018)

Chancellor to Chair: Stamp Duty Land Tax (dated 27 January 2018)

4. Appointment of Elisabeth Stheeman to the Bank of England Financial Policy Committee

Ordered, That the following written evidence relating to the Appointment of Elisabeth Stheeman

to the Bank of England Financial Policy Committee be reported to the House for publication:

Elisabeth Stheeman CV

Elisabeth Stheeman questionnaire

Elisabeth Stheeman, appointed external member of the Financial Policy Committee gave oral

evidence.

Draft Report (Appointment of Elisabeth Stheeman to the Bank of England Financial Policy



are published with the Sixth Report of the Committee, HC 758.



Members present:



Catherine McKinnell John Mann Wes Streeting

1. Student Loans

Draft Report (Student Loans), proposed by the Chair, brought up and read.

 


are published with the Seventh Report of the Committee, HC 478.

[Adjourned till Wednesday 7 February at 1.30 p.m.

Wednesday 7 February 2018

Members present:


Rushanara Ali Stephen Hammond Stewart Hosie

Mr Alister Jack Catherine McKinnell John Mann

1. Future Programme


Resolved, That the Committee inquire into Motability.

Resolved, That the Committee agrees to meet concurrently with the Work and Pensions

Committee in connection with its inquiry into Motability.

2. Correspondence


internet:

Andrew Bailey, FCA to Chair relating to the FCA’s section 166 report into RBS GRG

(dated 2 February 2018)

John Glen, Economic Secretary to the Treasury, relating to the publication of a

Government position paper on financial services and Brexit (dated 2 February 2018)


Ordered, That the Financial Conduct Authority submit the full skilled persons report into the

treatment of customers in RBS's Global Restructuring Group by 16 February 2018.

4. The work of the Financial Conduct Authority

Andrew Bailey, Chief Executive, Financial Conduct Authority, and John Griffith-Jones,

Chairman, Financial Conduct Authority gave oral evidence.

[Adjourned till Tuesday 20 February at 2.00 p.m.


Members present:


Rushanara Ali Charlie Elphicke

Wes Streeting


Ordered, That the skilled persons report into the treatment of customers in RBS's Global

Restructuring Group submitted by the Financial Conduct Authority be reported to the House for

publication

[Adjourned till Tuesday 20 February at 2.20 p.m.


Members present:


Rushanara Ali Charlie Elphicke Stephen Hammond

Mr Alister Jack Catherine McKinnell Wes Streeting

1. Future Programme


Resolved, That the Committee inquire into SME Finance.

Resolved, That the Committee inquire into Digital Currencies.

Resolved, That the Committee inquire into the appointment of Charles Randell as Chair of the

Financial Conduct Authority.

Resolved, That the Committee visit the Bank of England, London, in connection with its inquiry

into Digital Currencies.

2. Women in Finance

Ordered, That the written evidence relating to Women in Finance submitted by Genderbuzz

(WFN0019) be reported to the House for publication on the internet.

3. Work of the Money Advice Service

Ordered, That the written evidence relating to the work of the Money Advice Service submitted

by the Money Advice Service (MAS0003) be reported to the House for publication on the internet.

4. Childcare



1966 Juliet Chalk (CHI0046)

3mxchildcare Ltd (CHI0017)

A M LEWIS (CHI0099)

Alive to the World UK Louise Kirk (CHI0059)

All Souls CE Primary (CHI0076)

Barbara Riddell (CHI0064)

Bradford Metropolitan District Council (CHI0088)

Bright Sparks Preschool (CHI0057)

Brighton & Hove City Council (CHI0067)

British Chambers of Commerce (CHI0105)

Bushy Leaze Early Years Centre (CHI0053)

Cambridge Day Nursery (CHI0023)

Ceeda Research Limited (CHI0098)

Childcare Voucher Providers Association (CHI0077)

David Whiscombe (CHI0097)

Dr Maria Lyons (CHI0070)

Dr Veronica Cloke Browne (CHI0083)

Drakes Montessori Childcare (CHI0078)

Early Education (CHI0054)

ELBA A Tapia (CHI0042)

Ellen Bartoloni (CHI0022)

Family and Childcare Trust (CHI0075)

Fiveways Playcentre (CHI0091)

Heather Mills (CHI0036)

Helen Bilton (CHI0019)

Helen Smith (CHI0080)

Helen Wyrill (CHI0043)

Humpty Dumpty Day Nurseries Ltd (CHI0096)

Kate O'Farrell (CHI0068)

Killik & Co LLP (CHI0092)

Local Government Association (CHI0049)

London Councils (CHI0093)

Low Incomes Tax Reform Group (CHI0100)

Mothers at Home Matter (CHI0044)

Mothers at Home Matter (CHI0028)

Mr Adam Wanke (CHI0058)

Mr Douglas Leckie (CHI0029)

Mr Nick Leake (CHI0039)

Mrs Alison Jones (CHI0073)

Mrs Alison Kavanagh (CHI0065)

Mrs Amanda D'Oyly (CHI0089)

Mrs Anne Fennell (CHI0060)

Mrs Becky Irving (CHI0087)

Mrs Cathy Coulthard (CHI0016)

Mrs Claire Green (CHI0041)

Mrs Claire Paye (CHI0030)

Mrs Elizabeth Sydenham (CHI0032)

Mrs Evelyn Williams (CHI0094)

Mrs Genevieve Jordan (CHI0085)

Mrs Jeanette Dobson (CHI0048)

Mrs Katherine McGuinness (CHI0103)

Mrs Lynne Burnham (CHI0021)

Mrs Marcia Cook (CHI0074)

Mrs Naomi Stadlen (CHI0047)

Mrs Rachel Brooker (CHI0102)

Mrs Rebecca Nuttall (CHI0027)

Mrs Ruth Thomas (CHI0069)

Mrs Susan Alexander-Barnes (CHI0031)

Mrs Susan Sugden (CHI0040)

Mrs Tara Easton (CHI0018)

Mrs Victoria Begbie (CHI0063)

Ms A M Lewis (CHI0072)

Ms Carys Dorritt (CHI0056)

Ms Christine Green (CHI0038)

Ms Diana Dean (CHI0050)

Ms Julie Morris (CHI0026)

Ms Kathryn Kelly (CHI0055)

Ms lynn thompson (CHI0045)

Ms Melodie Hannon (CHI0035)

National Day Nurseries Association (CHI0095)

New View Nursery (CHI0025)

Oaklands Nursery (CHI0033)

PATA (UK) (CHI0082)

Patricia Dudley (CHI0037)

Peter Mills (CHI0034)

Potley Hill Community Preschool (CHI0061)

Pre-school Learning Alliance (CHI0066)

Professional Association for Childcare and Early Years (PACEY) (CHI0084)

Professor Eva Lloyd (CHI0071)

Prospect (CHI0024)

Save the Children (CHI0090)

Suffolk County Council (CHI0079)

The Children's Garden (CHI0020)

University of Essex and other universities (CHI0081)

Willaston Pre-school (CHI0062)

Women's Equality Party (CHI0101)

Working Families (CHI0086)

5. Work of the Payment Systems Regulator

Ordered, That the written evidence relating to the work of the Payment Systems Regulator

submitted by the Payment Systems Regulator (PSR0002) be reported to the House for publication

on the internet.

6. Correspondence


internet:

Chancellor to Chair re appointment of Charles Randell to the FCA (dated 5 January 2018)

Chair to Permanent Secretary, HM Treasury re Charles Randell’s previous membership

of Ingenious Film Partners 2 LLP (dated 15 January 2018)

Charles Randell to Permanent Secretary, HM Treasury re appointment of Charles Randell

to the FCA (dated 16 January 2018)

Permanent Secretary to the Treasury re appointment of Charles Randell to the FCA (dated

19 January 2018)

Committee Secretariat to RBS re RBS’s evidence to the Committee on its Global

Restructuring Group (dated 2 February 2018)

RBS to Chair re RBS’s evidence to the Committee on its Global Restructuring Group

(dated 16 February 2018)

Tony Boorman, Promontory to Chair re Promontory’s evidence to the Committee on RBS

Global Restructuring Group (dated 15 February 2018)

Andrew Bailey, FCA to Chair re publication of section 166 report (dated 20 February

2018)

Chancellor to Chair re re-appointment of Donald Kohn to the FPC (dated 6 February 2018)

Chancellor to Chair re process for appointing new members to the Budget Responsibility

Committee (dated 8 February 2018)

Economic Secretary to the Treasury to Chair re free access to ATMs and the LINK

agreement (dated 7 February 2018)

7. Appointment of Charles Randell as Chair of the Financial Conduct Authority

Ordered, That the following written evidence relating to the appointment of Charles Randell as

Chair of the Financial Conduct Authority be reported to the House for publication on the internet:

Charles Randell CV (ACR0001)

Charles Randell questionnaire (ACR0002)

Charles Randell, appointed Chair, Financial Conduct Authority gave oral evidence.

Draft Report (Appointment of Charles Randell as Chair of the Financial Conduct Authority),

proposed by the Chair, brought up and read.

 


are published with the Eighth Report of the Committee, HC 838.



Members present:


Rushanara Ali Mr Simon Clarke Charlie Elphicke Stewart Hosie

Mr Alister Jack Alison McGovern John Mann


Mr Simon Clarke declared his interests, in accordance with the Resolution of the House of 13 July

1992 (for details of declarations of interests, see Appendix I)

2. Correspondence


internet:

Chancellor of the Exchequer to Chair: Government’s response to the Committee’s Fourth

Report—Transitional arrangements for exiting the European Union (dated 9 February

2018)


Draft Special Report (Transitional Arrangements for exiting the European Union: Government

response to the Treasury Committee’s Fourth Report of session 2017–19), proposed by the Chair,

brought up and read the first and second time, and agreed to.

The Government response to the Fourth Report from the Committee of Session 2017–19 was

appended to the Report.

Resolved, That the Report be the First Special Report of the Committee to the House.

Ordered, That the Chair make the Report to the House.



internet:

Dr Mark Carney: Annual Report (INF0007)

Ben Broadbent: Annual Report (INF0005)

Andy Haldane: Annual Report (INF0006)

Dr Mark Carney, Governor, Ben Broadbent, Deputy Governor, Monetary Policy, Andy Haldane,

Chief Economist and Executive Director, Monetary Analysis & Statistics, and Silvana Tenreyro,

Member of the Monetary Policy Committee, Bank of England gave oral evidence.


Thursday 22 February 2018

The Chair and John Mann visited Citizens Advice, Nottingham, in connection with the

Committee’s inquiry into Household finances: income, saving and debt, in a representative

capacity, in accordance with the Committee’s decision of 19 December 2017.


Members present:


Rushanara Ali Mr Simon Clarke Charlie Elphicke Stephen Hammond

Stewart Hosie Mr Alister Jack Alison McGovern Catherine McKinnell

1. Correspondence


internet:

Chancellor of the Exchequer to Chair: Arrangements for the appointment of future MPC

members (dated 21 February 2018)

2 Childcare



HMRC (CHI0106)

London borough of Tower Hamlets (CHI0107)





Draft Special Report (The Solvency II Directive and its impact on the UK Insurance Industry:

Bank of England Response to the Committee’s Third Report of session 2017–19), proposed by the

Chair, brought up and read the first and second time, and agreed to.

The Bank of England response to the Third Report from the Committee of Session 2017–19 was


Resolved, That the Report be the Second Special Report of the Committee to the House.


Ordered, That embargoed copies of the Report be made available, in accordance with the

provisions of Standing Order No. 134.

5. Women in Finance

Ordered, That the written evidence relating to Women in Finance submitted by Dame Helena

Morrissey (WIF0021) be reported to the House for publication on the internet.

Anne Richards, CEO, M&G Investments, Amanda Blanc, Group CEO, Axa UK, and Susan Allen,

Head of Retail Distribution, Santander gave oral evidence.



Members present:



Alison McGovern Catherine McKinnell John Mann Wes Streeting


Matt Upton, Head of Consumer Policy, Citizens Advice, Phil Andrew, Chief Executive,

StepChange, and John Montague, Managing Director, Big Issue Group; Hamish Paton, CEO,

BrightHouse, Paul Smith, Chief Executive Officer, Morses Club, and Richard Fuller, Managing

Director, The Cash Shop gave oral evidence.

[Adjourned till Monday 5 March February at 3.30 p.m.

Thursday 1 March 2018

The Chair, Rushanara Ali, Charlie Elphicke, Stephen Hammond, Catherine McKinnell, John

Mann and Wes Streeting visited the Bank of England, London, in connection with the Committee’s

inquiry into Digital Currencies, in accordance with the Committee’s decision of 20 February.

Monday 5 March 2018

The Committee met concurrently with the Work and Pensions Committee

Members present:


John Mann Nicky Morgan

The following members of the Work and Pensions Committee were also present (Standing

Order No. 137A).

Heidi Allen Jack Brereton Alex Burghart Neil Coyle

Frank Field Ruth George Nigel Mills

Frank Field was called to the Chair (Standing Order No.137A (1)(d)).

1. Motability

Neil Johnson, Chair, Motability Operations Ltd, Mike Betts, Chief Executive, Motability

Operations Ltd, Lord Sterling of Plaistow, Chair, Motability Charity, and Declan O'Mahony,

Director, Motability Charity; Sarah Newton MP, Minister for Disabled People, Health and Work,

Department for Work and Pensions, James Wolfe, Director for Disability Employment and

Support, Department for Work and Pensions, and Kerstin Parker, Deputy Director, Disability

Benefits, Department for Work and Pensions gave oral evidence.

[Adjourned till Tuesday 6 March at 9.45 a.m.

Tuesday 6 March 2018

Members present:


Rushanara Ali Mr Simon Clarke Stephen Hammond Mr Alister Jack


1. Women in Finance



Genderbuzz (WFN0020)

PIMFA (WFN0022)

UK Finance (WFN0023)

2. Childcare


publication:

HM Treasury (CHI0107)

HMRC (CHI0106)

3. Correspondence

Ordered, That the following correspondence be reported to the House for publication:

Chair to Chief Secretary to the Treasury: Childcare inquiry (dated 9 February)

Chair to HMRC: Childcare inquiry (dated 9 February)

Chair to Financial Conduct Authority: Co-op Bank: independent inquiry (dated 19

February)

Prudential Regulation Authority to Chair: Direction from HM Treasury to the Prudential

Regulation Authority (PRA) to conduct an investigation into relevant events at the Co-

operative Bank Plc between 2008 and 2013 (dated 5 March)

Financial Conduct Authority to Chair: Co-op Bank: Independent Inquiry (dated 6 March)

4. SME Finance

James Meekings, Co-Founder and UK Managing Director, Funding Circle, Stephen Welton,

CEO, Business Growth Fund, Katrin Herrling, Co-Founder and CEO, Funding Xchange, and

Luke Lang, Co-Founder, CrowdCube gave oral evidence.

[Adjourned till Wednesday 7 March at 2.00 p.m.

Wednesday 7 March 2018

Members present:


Rushanara Ali Mr Simon Clarke Charlie Elphicke Stephen Hammond Stewart Hosie

Mr Alister Jack Alison McGovern Catherine McKinnell Wes Streeting

1. Future Programme


2. The work of the Payment Systems Regulator

Ordered, That the written evidence relating to the work of the Payment Systems Regulator

submitted by the Financial Conduct Authority (PSR0003) be reported to the House for publication

on the internet.

3. Correspondence


Parliamentary Under-Secretary of State to the Department for Exiting the EU to Chair re

answers to Parliamentary Questions (dated 5 March)


Leigh Pomlett, Executive Director, CEVA Logistics and President, Freight Transport Association,

Shanker Singham, Chair, Legatum Institute Special Trade Commission, Peter MacSwiney,

Chairman, ASM (UK) Ltd and Chair, JCCC Brexit Sub-Group, and Paul Mac Flynn, Senior

Economist, Nevin Economic Research Institute gave oral evidence.


Formal minutes of meeting


Members present:


Mr Simon Clarke Stephen Hammond Stewart Hosie

John Mann Alison McGovern Wes Streeting

1. Future Programme


Resolved, That the Committee inquire into securing the tax base.

2. Sub-Committee

Resolved, That the Sub-Committee inquire into the conduct of tax enquiries and the resolution

of tax disputes.

Resolved, That the Sub-Committee inquire into tax avoidance and evasion.


Ordered, That the following written evidence relating to the UK's economic relationship with the


British Retail Consortium (EUN0012)

City of London Corporation (EUN0022)

Financial Services Consumer Panel (EUN0015)

Fresh Produce Consortium (EUN0014)

GuildHE (EUN0018)

Investment Association (EUN0017)

Lloyd's (EUN0016)

London Market Group (EUN0020)

Mr Jonathan Portes (EUN0025)

Mr Jonathan Portes (EUN0026)

PIMFA (EUN0021)

TheCityUK (EUN0013)

4. Women in Finance

Ordered, That the written evidence relating to Women in Finance submitted by Virgin Money

(WFN0024) be reported to the House for publication on the internet.

5. Correspondence


internet:

Chief Secretary to the Treasury to Chair: Payment of the National Minimum Wage for

sleep in shifts (dated 7 March)


Ordered, That the written evidence relating to household finances: income, saving and debt

submitted by Professor Steve Keen (HHF0047) be reported to the House for publication on the

internet.

Michelle Cracknell, Chief Executive, The Pensions Advisory Service; Baroness Altmann, former

Minister of State, Department for Work and Pensions, and Rt Hon. Sir Steve Webb, former

Minister of State, Department for Work and Pensions gave oral evidence.



Members present:



Stewart Hosie Alison McGovern Catherine McKinnell

1. Future Programme



Draft Special Report (Budget Autumn 2017: Government and Office for Budget Responsibility

responses to the Treasury Committee’s Fifth Report of session 2017–19), proposed by the Chair,


The Government response to the Fifth Report from the Committee of Session 2017–19 was


The Office for Budget Responsibility response to the Fifth Report from the Committee of Session

2017–19 was appended to the Report.

Resolved, That the Report be the Third Special Report of the Committee to the House.



Ordered, That the following written evidence relating to household finances: income, saving and


Pensions Advisory Service (HHF0049)

Scope (HHF0047)

4. Correspondence


internet:

Financial Secretary to the Treasury to Chair: Tax Consultation Tracker (dated 13 March)

6. Spring Statement 2018

Robert Chote, Chairman of the Office for Budget Responsibility, Graham Parker CBE, Member,

Budget Responsibility Committee, and Professor Sir Charlie Bean, Member, Budget

Responsibility Committee gave oral evidence.



Members present:


Rushanara Ali Mr Simon Clarke Stephen Hammond Wes Streeting

Mr Alister Jack Alison McGovern John Mann

1. Future Programme


Resolved, That the Committee inquire into the effect of trade policy on the economy.

Resolved, That the Committee agrees to meet concurrently with the International Trade

Committee in connection with its inquiry into the effect of trade policy on the economy.


Ordered, That the written evidence relating to the work of the Financial Conduct Authority

submitted by the Financial Conduct Authority (FCA0005) be reported to the House for publication

on the internet.

3. Supplementary Estimates memorandum

Ordered, That the following papers be reported to the House for publication on the internet:

HM Revenue and Customs 2017–18 Supplementary Estimates memorandum

HM Treasury 2017–18 Supplementary Estimates memorandum

4. Correspondence


internet:

Chief Executive of the Financial Ombudsman Service to Chair: Channel 4 Dispatches

programme (dated 22 February)

Chief Executive of the Financial Ombudsman Service to Chair: Channel 4 Dispatches

allegations (dated 20 March)

5. Childcare

Ordered, That the written evidence relating to Childcare submitted by the Child Poverty Action

Group (CHI0109) be reported to the House for publication on the internet.

Draft Report (Childcare), proposed by the Chair, brought up and read.

 


are published with the Ninth Report of the Committee, HC 757.

6. Digital Currencies




Members present:


Rushanara Ali Mr Simon Clarke Stewart Hosie

Alison McGovern John Mann

1. Future Programme


Resolved, That the Committee inquire into Combatting Economic Crime—The role of the

Treasury and its associated bodies.

2. Correspondence


internet:

Chancellor of the Exchequer to Chair re appointment of Sir John Armitt as Chair of the

National Infrastructure Commission (dated 15 March)

Economic Secretary to the Treasury to Chair re investigation into Co-op Bank (dated 21

March)

Bradley Fried, Financial Conduct Authority to Chair re investigation into Co-op Bank

(dated 21 March)

Financial Secretary to the Treasury to Chair re Business Rates Property Revaluation (dated

20 March)


Professor Jonathan Portes, Professor of Economics and Public Policy & Senior Fellow, King’s

College London, Phoebe Griffith, Associate Director for Migration, Integration and Communities,

IPPR, Alp Mehmet, Vice-Chairman, Migration Watch, and Madeleine Sumption, Director,

Migration Observatory, University of Oxford gave oral evidence.



Members present:


Rushanara Ali Mr Simon Clarke Mr Alister Jack

Alison McGovern Catherine McKinnell John Mann

1. Correspondence


internet:

Chief Executive of RBS to Chair: RBS Global Restructuring Group (dated 13 March)

Chair to Economic Secretary to the treasury: Financial Guidance and Claims Bill (dated 7

March)

Economic Secretary to the Treasury to Chair: Financial Guidance and Claims Bill (dated

15 March)

Chief Executive of the Prudential Regulation Authority: Further update on Solvency II

(dated 27 March)

2.Women in Finance

John Glen MP, Economic Secretary to the Treasury, and Victoria Atkins MP, Minister for

Women, gave oral evidence.

[Adjourned till Tuesday 17 April at 9.00 a.m.

Monday 9 April 2018

The Chair, Rushanara Ali, Stephen Hammond, Stewart Hosie, Alison McGovern and Wes

Streeting visited New York and Washington D.C, connection with the Committee’s ongoing

scrutiny of the Financial Conduct Authority, the Bank of England and HM Treasury, and its

inquiries into the UK’s future economic relationship with the EU, Digital Currencies, and

Household finances: income, saving and debt, in accordance with the Committee’s decision of 6

December 2017.

Tuesday 17 April 2018

Members present:


Stewart Hosie Mr Alister Jack

Alison McGovern John Mann

1. Future Programme


2. SME Finance

Ordered, That the following written evidence relating to SME Finance be reported to the House


Aldermore (SME0018)

Alternative Business Funding (SME0011)

Association of Investment Companies (SME0001)

BLG Data Research Centre (SME0024)

British Chambers of Commerce (SME0017)

Crowdcube (SME0028)

Director Chris Cook (SME0031)

EIS Association (SME0007)

Finance & Leasing Association (SME0012)

Financial Conduct Authority (SME0033)

Financial Services Consumer Panel (SME0014)

finnCap Ltd (SME0008)

Funding Circle (SME0034)

ICAS (SME0004)

iwoca (SME0032)

Jerry Coakley, Claudia Girardone, and Mingchen Sun, Essex Business School (SME0029)

Jim Shannon MP, Brian Little, Paul Moore (SME0025)

Lending Standards Board (SME0027)

LendInvest Limited (SME0013)

Marta Degl'Innocenti (SME0015)

Mr Kristian Jurgensen (SME0009)

Mr Mark Brune (SME0023)

Mr Richard Samuel (SME0003)

Newable (SME0021)

OakNorth (SME0030)

Octopus (SME0010)

Oxygen Finance (SME0020)

QA Advisory (SME0005)

Responsible Finance (SME0002)

SME Alliance (SME0026)

Tees Valley Combined Authority (SME0016)

UK Finance (SME0019)

VCTA (SME0022)

Windsor Actuarial Consultants (SME0006)



Union submitted by Migration Watch (EUN0033) be reported to the House for publication on the

internet.

4.Correspondence


internet:

Chair to the Chief Executive of the Financial Ombudsman Service: Internal investigation

into the FOS (dated 28 March)

Chairman of the Office for Budget Responsibility to Chair: European Commission

infraction proceedings (dated 28 March)

Chief Executive of the Financial Ombudsman Service to the Chair: Internal investigation

into the FOS (dated 3 April)

Chief Executive of the Student Loans Company: Treasury Committee Report on Student

Loans (dated 29 March)

[Adjourned till Wednesday 18 April at 2.00 p.m.

Wednesday 18 April 2018

Members present:



Mr Alister Jack Alison McGovern Catherine McKinnell Wes Streeting

1.Correspondence


internet:

Mark Davies, Davies Duffy Smith Consulting Limited, to Chair: Caroline Wayman’s

letter to the Chair dated 20 March regarding the Financial Ombudsman Service (dated 13

April)

2. Re-appointment of Alex Brazier to the Financial Policy Committee

Ordered, That the following written evidence relating to Re-appointment of Alex Brazier to the

Financial Policy Committee be reported to the House for publication on the internet:

Alex Brazier CV (ABF0001)

Alex Brazier re-appointment questionnaire (ABF0002)

Alex Brazier, Member, Financial Policy Committee gave oral evidence.

Draft Report (Re-appointment of Alex Brazier to the Financial Policy Committee), proposed by

the Chair, brought up and read.

 


are published with the Tenth Report of the Committee, HC 936.

3. Re-appointment of Donald Kohn to the Financial Policy Committee

Ordered, That the following written evidence relating to Re-appointment of Donald Kohn to the


Donald Kohn CV (DKF0001)

Donald Kohn re-appointment questionnaire (DKF0002)

Donald Kohn, Member, Financial Policy Committee gave oral evidence.

Draft Report (Re-appointment of Donald Kohn to the Financial Policy Committee), proposed by


 


are published with the Eleventh Report of the Committee, HC 937.

4. Re-appointment of Martin Taylor to the Financial Policy Committee

Ordered, That the following written evidence relating to Re-appointment of Martin Taylor to the


Martin Taylor CV (MTF0001)

Martin Taylor re-appointment questionnaire (MTF0002)

Martin Taylor, Member, Financial Policy Committee gave oral evidence.

Draft Report (Re-appointment of Martin Taylor to the Financial Policy Committee), proposed by


 


are published with the Twelfth Report of the Committee, HC 938.



The Committee met concurrently with the International Trade Committee

Members present:

Charlie Elphicke Stephen Hammond Stewart Hosie Mr Alister Jack

Catherine McKinnell Nicky Morgan Wes Streeting

The following members of the International Trade Committee were also present (Standing Order

No. 137A).

Mr Marcus Fysh Mr Ranil Jayawardena Mr Chris Leslie Emma Little Pengelly

Julia Lopez Angus Brendan MacNeil Catherine West Matt Western

Nicky Morgan was called to the Chair (Standing Order No.137A (1)(d)).

1. The economic effects of trade policy

Ordered, That the following correspondence relating to the economic effects of trade policy be

reported to the House for publication on the internet:

Professor David Blake (ETP0001)



Angus Brendan MacNeil was called to the Chair (Standing Order No.137A (1)(d)).

Professor Alasdair Smith, University of Sussex, UKTPO, Professor Jacques Pelkmans, College

of Europe, Professor David Blake, CASS Business School, and Professor Patrick Minford,

University of Cardiff gave oral evidence.


Sir Martin Donnelly, University of Oxford, David Henig, Director, European Centre for

International Political Economy, and Molly Kiniry, Programme Manager, Legatum Institute gave

oral evidence.

[Adjourned till Tuesday 24 April at 1.45 p.m.


Members present:


Mr Simon Clarke Charlie Elphicke


1. SME Finance

Ordered, That the written evidence relating to SME Finance submitted by ICAEW (SME0035)

be reported to the House for publication on the internet.

2. Sub-Committee

Ordered, That the written evidence relating to the Work of UKGI and UKFI submitted by UKGI

(UKG0001) be reported to the House for publication on the internet.

3. Correspondence


internet:

Chief executive of the Financial Conduct Authority to Chair: Aviva preference shares

(dated 28 March)

Chairman of the London Stock Exchange Group to Chair: Appointment of David

Schwimmer as Chief Executive Officer (dated 13 April)

Economic Secretary to the Treasury to Chair: Draft Statutory Instrument on

responsibilities of UK regulators of financial services (dated 18 April)

Chief Executive of the Equality and Human Rights Commission: Gender pay gap

reporting (dated 18 April)


Sir Amyas Morse, Comptroller and Auditor General, National Audit Office gave oral evidence.



Members present:



Mr Alister Jack Alison McGovern Catherine McKinnell John Mann Wes Streeting

1. Correspondence


internet:

Chairman of the Office for Budget Responsibility to Chair: The EU exit agreement and

OBR forecasts (dated 23 April)

Chair to the Executive Director of TSB Bank: TSB systems upgrade (dated 23 April)

Ordered, That, subject to the discretion of the Chair, correspondence from TSB Bank relating to

Service Disruption at TSB shall be reported to the House for publication.

2. The Work of the Chancellor of the Exchequer

The Rt Hon Philip Hammond MP, Chancellor of the Exchequer, HM Treasury, and Sir Tom

Scholar, Permanent Secretary to the Treasury gave oral evidence.

[Adjourned till Tuesday 1 May at 9.45 a.m.

Tuesday 1 May 2018

Members present:




1. Future Programme

Resolved, That the Committee inquire into Service Disruption at TSB.

Ordered, That the following correspondence relating to Service Disruption at TSB be reported to


Chief Executive of TSB to Chair: Service disruption at TSB (dated 27 April)

2. Correspondence


internet:

Permanent Secretary to HM Revenue and Customs to Chair: HMRC's approach to

cooperating with international partners (dated 27 April)


Ordered, That the following written evidence relating to Digital Currencies be reported to the

House for publication on the internet:

Everledger (DGC0033)

Izabella Kaminska and Martin Walker (DGC0034)

Dr Grammateia Kotsialou and Dr Luke Riley (DGC0035)

Ryan Zagone, Director of Regulatory Relations, Ripple, Martin Walker, Director, Centre for

Evidence Based Management, Dr Grammateia Kotsialou, King's College London, and Chris

Taylor, Chief Operating Officer, Everledger gave oral evidence.

[Adjourned till Wednesday 2 May at 2.00 p.m.

Wednesday 2 May 2018

Members present:


Rushanara Ali Mr Simon Clarke Charlie Elphicke

Stewart Hosie John Mann

1. Combatting Economic Crime—The role of the Treasury and its associated bodies.


2. Service disruption at TSB.

Dr Paul Pester, Chief Executive, TSB, Richard Meddings, Chairman, TSB, and Miguel Montes,

Chief Operating Officer, Sabadell Group gave oral evidence.

[Adjourned till Tuesday 8 May at 2.00 p.m.

Tuesday 8 May 2018

Members present:




1. SME Finance



RBS (SME0035)

The Genesis Initiative (SME0036)

2. Women in Finance



City of London Corporation (WFN0028)

Dame Inga Beale (WFN0026)

Plymouth University (WFN0025)

Treasury Committee—Women in Finance Engagement Event (WFN0027)

3. Correspondence


internet:

Exchequer Secretary to the Treasury to Chair: Landfill Tax Rates (3 May)

Economic Secretary to the Treasury to Chair: EU Exit—Technical Working Group (dated

27 April)

Parliamentary Under-Secretary to the Department for Business, Energy and Industrial

Strategy to Chair: Consultation on the reform of Limited Partnerships (dated 30 April)

Permanent Secretary to HM Treasury to Chair: Gender pay gap discussions (dated 1 May)


Christopher Woolard, Director of Strategy and Competition, Financial Conduct Authority, and

Nisha Arora, Director of Market Intelligence, Data and Analysis, Financial Conduct Authority;

John Glen MP, Economic Secretary to the Treasury and City Minister, HM Treasury, Guy

Opperman MP, Parliamentary Under-Secretary of State for Pensions and Financial Inclusion,

Department for Work and Pensions , Charlotte Clark, Director, Private Pensions and Stewardship,

Department for Work and Pensions, and John Owen, Deputy Director, Assets, Savings and

Consumers, HM Treasury gave oral evidence.



Members present:


Charlie Elphicke Mr Alister Jack Alison McGovern


1. Future Programme


Resolved, That the Committee inquire into Maxwellisation.

Resolved, That the Committee visit the Farnborough International Airshow, Farnborough, in

connection with its inquiries into SME Finance and the UK's economic relationship with the

European Union.

2. Sub-Committee

Resolved, That the Sub-Committee inquire into National Savings and Investments.

3. SME Finance

Mr Alister Jack declared a non-pecuniary interest in relation to the Committee’s inquiry into SME

Finance as an acquaintance of Guy Stenhouse, Managing Director, Shancastle Investments.

Nikki Turner, SME Alliance, Keith Elliott, Former CEO, Premier Motor Auctions, Craig Keech,

Director, Legacy Consulting, and Guy Stenhouse, Managing Director, Shancastle Investments;

Lawrence Tomlinson, Chairman, LNT Group; Keith Morgan, CEO, British Business Bank, and

Suren Thiru, Head of Economics and Business Finance, British Chambers of Commerce gave oral

evidence.


Tuesday 15 May 2018

Members present:



Mr Alister Jack Alison McGovern John Mann Wes Streeting

1. Future Programme


Resolved, That the Committee inquire into the re-appointment of Dr Gertjan Vlieghe to the

Monetary Policy Committee.

2. Women in Finance

Resolved, That the Committee visit Bloomberg, London, in connection with its inquiry into

Women in Finance.


Ordered, That the following written evidence relating to Household finances: income, saving and


BrightHouse (HHF0051)

Cash Shop Ltd. (HHF0050)

4. The work of the Chancellor of the Exchequer

Ordered, That the written evidence relating to the work of the Chancellor of the Exchequer

submitted by HM Treasury (CHX0001) be reported to the House for publication on the internet.

5. Sub-Committee

Ordered, That the written evidence relating to tax avoidance and evasion submitted by HM

Revenue and Customs (TAV0007) be reported to the House for publication on the internet.

6. Economic Crime

Ordered, That the following written evidence relating to Economic Crime be reported to the


Financial Conduct Authority (ECR0010)

Global Witness (ECR0027)

Payment Systems Regulator (ECR0015)

RUSI Centre for Financial Crime and Security Studies (ECR0018)

Transparency International UK (ECR0004)

Duncan Hames, Director of Policy, Transparency International UK, Naomi Hirst, Senior

Campaigner, Global Witness, and Tom Keatinge, Director, Centre for Financial Crime and

Security Studies, Royal United Services Institute gave oral evidence.




Members present:

Charlie Elphicke Stewart Hosie Mr Alister Jack

John Mann Nicky Morgan


Order No. 137A).

Heidi Allen Jack Brereton Alex Burghart Neil Coyle

Frank Field Steve McCabe Nigel Mills Chris Stephens


1. Motability

Draft Report (The Motability Scheme), proposed concurrently by the Treasury Committee and

Work and Pensions Committees, brought up and read.


are published with the Thirteenth Report of the Committee, HC 847



Members present:


Charlie Elphicke Stewart Hosie

Mr Alister Jack John Mann

1. Maxwellisation

Andrew Green QC, Specialist Adviser to the Treasury Committee and author of the

Maxwellisation Review, and Fraser Campbell, Specialist Adviser and co-author of the

Maxwellisation Review gave oral evidence.

2. SME Finance

Andrew Green QC, Specialist Adviser to the Treasury Committee, Richard Samuel, Barrister,

3 Hare Court Chambers, and Cat Maclean, Head of Dispute Resolution, MBM Commercial

gave oral evidence.


Tuesday 22 May 2018

Members present:



Stewart Hosie Alison McGovern John Mann Wes Streeting

1. Future programme

Resolved, That the Committee visit Bloomberg, London, in connection with its inquiry into

Women in Finance.

2. Economic crime

Ordered, That the following written evidence relating to Economic crime be reported to the


ABI (ECR0052)

Association of Accounting Technicians (AAT) (ECR0012)

Association of Certified Fraud Examiners (ECR0003)

Bournemouth University (ECR0045)

Centre for Economic Performance / London School of Economics (ECR0040)

Cifas (ECR0037)

City of London Police (ECR0057)

CORE Coalition (ECR0029)

Deutsche Bank UK, Financial Crime Investigations (ECR0053)

Dr Stephen Baister (ECR0008)

Fraud Advisory Panel (ECR0034)

ICAEW (ECR0024)

JH Dragon Network (ECR0049)

Keep Me Posted (ECR0043)

LexisNexis Risk Solutions (ECR0005)

MIDAS Alliance (ECR0032)

Mr David Hurford (ECR0001)

National Trading Standards (ECR0016)

Petrol Retailers and Car Wash Associations (ECR0055)

Post Office (ECR0042)

Professor Liz Campbell (ECR0009)

Professor Michael Levi (ECR0023)

RICS (ECR0059)

Serious Fraud Office (ECR0038)

Simon Thomas (ECR0025)

Solicitors Regulation Authority (ECR0014)

Standard Chartered Bank (ECR0050)

STEP (ECR0022)

The Bar of Northern Ireland (ECR0030)

The Chartered Institute of Taxation (CIOT) (ECR0011)

The Law Society (ECR0041)

Thinking about Crime Limited (ECR0002)

Thomson Reuters (ECR0051)

Which? (ECR0044)

Yoti (ECR0048)

3. Digital currencies

Ordered, That the following written evidence relating to Digital currencies be reported to the


Adrian Markey Ltd (DGC0006)

Bank of England (DGC0055)

Barclays (DGC0023)

Baton Systems (DGC0050)

Blockchain Training (DGC0029)

BSI (DGC0018)

Chaintech PLC (DGC0045)

Charities Aid Foundation (DGC0030)

City of London Corporation (DGC0051)

Clearmatics (DGC0049)

Coinfloor Limited (DGC0032)

ConsenSys (DGC0039)

Creative Investment Research (DGC0010)

Cryptonomy (DGC0011)

CryptoUK (DGC0031)

David Gerard (DGC0052)

Digital Currency Foundation (DGC0046)

Digital Currency Initiative, MIT Media Lab (DGC0058)

Dr Alison Lui (DGC0016)

Dr Andres Guadamuz (DGC0013)

Dr Grammateia Kotsialou and Dr Luke Riley (DGC0035)

Electronic Money Association (DGC0056)

Everledger (DGC0033)

Eversheds Sutherland (International) LLP (DGC0020)

Financial Conduct Authority (DGC0028)

Financial Reporting Council (DGC0022)

Henry Jackson Society (DGC0057)

Izabella Kaminska and Martin Walker (DGC0034)

Mastercard (DGC0048)

Miss Ilaria Zavoli (DGC0012)

Mr Adam Kershaw (DGC0007)

Mr Alfio Puglisi (DGC0025)

Mr Andrew Britto (DGC0009)

Mr David Hicks (DGC0003)

Mr David Prais (DGC0008)

Mr Reece Procter (DGC0002)

Mr Sam Hodge (DGC0005)

NAC Foundation (DGC0026)

NCC Group (DGC0043)

Newgate Communications (DGC0036)

Positive Money (DGC0024)

Positive Money (DGC0027)

Professor Jorge Stolfi (DGC0054)

Professor Ross Anderson (DGC0047)

Pundi X Labs Pte (DGC0041)

R3 (DGC0044)

Solicitors Regulation Authority (DGC0017)

Susan Hedley (DGC0042)

The Poseidon Foundation (DGC0021)

4. SME Finance

Ordered, That the written evidence relating to SME Finance submitted by ICAEW (SME0037)


5. The economic effects of trade policy

Ordered, That the written evidence relating to The economic effects of trade policy submitted by

Prof Alasdair Smith (ETP0003) be reported to the House for publication on the internet.

6. Service Disruption at TSB

Ordered, That the written evidence relating to Service Disruption at TSB submitted by TSB

(TSB0001) be reported to the House for publication on the internet.

7. Correspondence


internet:

Financial Secretary to the Treasury and Paymaster General to Chair: High Income Child

Benefit Charge and State Pension entitlement (dated 28 March)

8. Re-appointment of Dr Gertjan Vlieghe to the Bank of England Monetary Policy Committee

Ordered, That the following written evidence relating to Digital currencies be reported to the


Dr Gertjan Vlieghe—CV (RGV0001)

Dr Gertjan Vlieghe—Questionnaire (RGV0002)

Dr Gertjan Vlieghe, Member of the Monetary Policy Committee, Bank of England gave oral

evidence.


Dr Mark Carney, Governor of the Bank of England, Sir Dave Ramsden, Deputy Governor,

Markets and Banking, Bank of England, Michael Saunders, Member of the Monetary Policy

Committee, Bank of England, and Dr Gertjan Vlieghe, Member of the Monetary Policy

Committee, Bank of England gave oral evidence.



Members present:


Rushanara Ali Mr Simon Clarke

Stewart Hosie Mr Alister Jack


Ordered, That, subject to the discretion of the Chair, correspondence from TSB Bank relating to

Service Disruption at TSB shall be reported to the House for publication.

2. Re-appointment of Dr Gertjan Vlieghe to the Bank of England Monetary Policy Committee

Draft Report (Re-appointment of Dr Gertjan Vlieghe to the Bank of England Monetary Policy


 


are published with the Fourteenth Report of the Committee, HC 1056.





Ordered, That the written evidence relating to Household finances: income, saving and debt

submitted by HM Treasury (HHF0052) be reported to the House for publication on the internet.

5. Correspondence


internet:

Secretary of State for Business, Energy and Industrial Strategy to Chair: Small Business

Research Initiative (dated 15 May)

Andrew Griffiths and Robert Jenrick to Chair on the Business Productivity Review (dated

23 May)


Jon Thompson, Chief Executive and Permanent Secretary, HM Revenue and Customs, and Jim

Harra, Deputy Chief Executive and Second Permanent Secretary, HM Revenue and Customs

gave oral evidence.

7. SME Finance

Amanda Murphy, Head of Commercial Banking, HSBC, Rishi Khosla, CEO, OakNorth, and

Ian Smith, Chief Financial Officer, Clyesdale and Yorkshire Banking Group gave oral

evidence.

[Adjourned till Tuesday 5 June at 9.45 a.m.

Tuesday 5 June 2018

Members present:



Mr Alister Jack Alison McGovern Wes Streeting

1. Future programme


Resolved, That the Committee inquire into the Work of the Valuation Office Agency.

2. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by UK Finance

(ECR0064 & ECR0065) be reported to the House for publication on the internet.


Ordered, That the written evidence relating to Service Disruption at TSB submitted by TSB

(TSB0002) be reported to the House for publication on the internet.

Ordered, That the following correspondence relating to Service Disruption at TSB be reported

to the House for publication on the internet:

Chair to Chief Executive of the Financial Conduct Authority: Service Disruption at TSB

(dated 16 May)

Chief Executive of the Financial Conduct Authority to Chair: Service Disruption at TSB

(dated 30 May)

4. Correspondence


internet:

Chancellor of the Exchequer to Chair: Appointment to the Monetary Policy Committee

(dated 25 May)

Chancellor of the Exchequer to Chair: Appointments to the Court of the Bank of England

(dated 25 May)

Chief Executive of HM Revenue and Customs to Chair: Child Benefit (dated 25 May)

Chief Executive of the Financial Conduct Authority to Chair: FCA Investigations (dated

30 May)

Chief Executive of the Financial Conduct Authority to Chair: High Cost Credit Review

(dated 31 May)




Fresh Produce consortium (EUN0014)

Getlink (EUN0029)

HM Revenue and Customs (EUN0036)

Port of Zeebrugge (EUN0035)

Benoit Rochet, Deputy CEO, Port of Calais, Joachim Coens, CEO, Port of Zeebrugge, and

John Keefe, Director of Public Affairs, Getlink (formerly Groupe Eurotunnel); Jon Thompson,

Chief Executive and Permanent Secretary, HM Revenue and Customs, Jim Harra, Deputy

Chief Executive and Second Permanent Secretary, HM Revenue and Customs, and Karen

Wheeler, Director General Cross Government Border Delivery Group, HMRC gave oral

evidence.

[Adjourned till Wednesday 6 June at 2.00 p.m.

Wednesday 6 June 2018

Members present:




1. Women in Finance

Draft Report (Women in Finance), proposed by the Chair, brought up and read.

 


are published with the Fifteenth Report of the Committee, HC 477.

2. Correspondence


internet:

Chief Executive of the Prudential Regulation Authority to Chair: Solvency II risk Margin

(dated 4 June)




Chair to Chief Executive of the Financial Conduct Authority (dated 16 May)

Chief Executive of the Financial Conduct Authority to Chair (dated 30 May)

Chief Executive of TSB to Chair (dated 5 June)

Founder and Executive Chair of MoneySavingExpert.com to Chair (dated 5 June)

Ordered, That, subject to the discretion of the Chair, correspondence with TSB Bank relating

to Service Disruption at TSB shall be reported to the House for publication.

Andrew Bailey, Chief Executive, Financial Conduct Authority, John Sutherland, Senior

Adviser, Financial Conduct Authority, and Sheree Howard, Senior Adviser, Financial Conduct

Authority; Dr Paul Pester, Chief Executive, TSB, Richard Meddings, Chairman, TSB, and

Miguel Montes, Chief Operating Officer, Sabadell Group gave oral evidence.


Tuesday 12 June 2018

Members present:


Charlie Elphicke Stephen Hammond


1. Securing the Tax Base

Ordered, That the following written evidence relating to Securing the Tax Base be reported to the


Deloitte LLP (STB0032)

CAS (STB0029)

The Chartered Institute of Taxation (CIOT) (STB0030)

The Low Incomes Tax Reform Group (STB0019)

2. Sub-Committee

Ordered, That the following written evidence relating to The Conduct of Tax Enquiries and the

Resolution of Tax Disputes be reported to the House for publication on the internet:

Association of Accounting Technicians (AAT) (TRE0092)

Association of Revenue & Customs (TRE0177)

CBI (TRE0175)

Deloitte LLP (TRE0185)

Grant Thornton UK LLP (TRE0171)

ICAEW (TRE0180)

ICAS (TRE0176)

KPMG LLP (TRE0152)

Law Society of Scotland (TRE0178)

Pinsent Masons LLP (TRE0183)

Roadchef (Employee Benefits Trustees) Limited (TRE0165)

Slaughter and May (TRE0174)

The Chartered Institute of Taxation (CIOT) (TRE0182)

The Low Incomes Tax Reform Group (TRE0166)

The Taxation Committee of The London Society of Chartered Accountants (TRE0181)

Ordered, That the following written evidence relating to Tax Avoidance and Evasion be reported


Association of Revenue & Customs (TAV0036)

British Virgin Islands Government (TAV0038)

Charter Tax Consulting Limited (TAV0035)

Darren Richmond (TAV0002)

David Quentin (TAV0018)

Deloitte LLP (TAV0023)

Global Witness (TAV0011)

Grant Thornton UK LLP (TAV0029)

Hugo Owen (TAV0003)

ICAEW (TAV0037)

ICAS (TAV0022)

Independent Heath Professionals Association (TAV0030)

International Financial Centre’s Forum (TAV0031)

Isle of Man Government (TAV0034)

Jersey Finance Limited (TAV0020)

KPMG LLP (TAV0015)

Law Society of England and Wales (TAV0028)

Mr Frank Smits (TAV0014)

Mr Paul Beckett (TAV0005)

Mr Stephen Howard (TAV0009)

Mr Tom Sheard (TAV0001)

Oxfam GB (TAV0017)

Pinsent Masons LLP (TAV0032)

Professor Richard Murphy (TAV0027)

RPC LLP (TAV0012)

States of Guernsey (TAV0033)

STEP (TAV0021)

Tax Justice UK (TAV0019)

The Chartered Institute of Taxation (CIOT) (TAV0024)




Chairman of TSB to Chair: Service Disruption at TSB (dated 7 June)


Ordered, That the following correspondence relating to the Work of the Financial Conduct

Authority be reported to the House for publication on the internet:

Chair to Chief Executive of the Financial Conduct Authority: Accessible Formats (dated

28 March)

Chief Executive of the Financial Conduct Authority to Chair: Accessible Formats (dated

25 April)

5. Sub-Committee

Ordered, That the following correspondence relating the Work of UKGI and UKFI be reported


Chair of the Sub-Committee to Chief Executive Officer of UKGI: UKGI’s vote at the RBS

AGM (dated 5 June)

6. Correspondence


internet:

Chair to Permanent Secretary to HM Treasury: Appointment process to the MPC (dated 4

June)

Chair of the Sub-Committee to Chief Executive Officer of UKGI: UKGI’s vote at the RBS

AGM (dated 5 June)

7. Work of the Valuation Office Agency

Melissa Tatton CB, Chief Executive Officer, Valuation Office Agency, and Pedro Wrobel,

Chief Strategy Officer, Valuation Office Agency gave oral evidence.



The Chair, Rushanara Ali, Charlie Elphicke, Stephen Hammond, Alison McGovern and Wes

Streeting visited Bloomberg, London, in connection with the Committee’s inquiry into Women in

Finance, in accordance with the Committee’s decision of 22 May.


Members present:


Rushanara Ali Charlie Elphicke Stewart Hosie

Mr Alister Jack Catherine McKinnell

1. Childcare

Draft Special Report (Childcare: Government response to the Treasury Committee’s Ninth Report

of session 2017–19), proposed by the Chair, brought up and read the first and second time, and

agreed to.

The Government response to the Ninth Report from the Committee of Session 2017–19 was


Resolved, That the Report be the Fifth Special Report of the Committee to the House.


2. Economic Crime



ACRA (ECR0013)

Propertymark (ECR0039)

3. Correspondence


internet:

Senior Responsible Officer of the Prudential Regulation Authority to Chair: Prudential

regulation of the Co-operative Bank (dated 11 June)


Andrew Bailey, Chief Executive, Financial Conduct Authority, and Charles Randell,

Chairman, Financial Conduct Authority gave oral evidence.



Members present:


Rushanara Ali Mr Simon Clarke Charlie Elphicke Stephen Hammond Mr Alister Jack



Ordered, that the written evidence relating to Bank of England Inflation Reports by the Bank

of England (INF0008) be reported to the House for publication on the internet.


Ordered, that the written evidence relating to Digital Currencies by Outlier Ventures

(DGC0059) be reported to the House for publication on the internet.


Ordered, that the written evidence relating to Securing the Tax Base by Retailers Against VAT

Abuse Schemes (STB0037) be reported to the House for publication on the internet.




General Secretary of TBU to Chair: TSB Integration Shambles (dated 13 June)

4. SME Finance

Ordered, that the written evidence relating to SME Finance by the Association of Accounting

Technicians (SME0038) be reported to the House for publication on the internet.

5. Correspondence


internet:

Economic Secretary to the Treasury to Chair: Sale of RBS Shares (dated 5 June)

Chief Executive of HMRC to Chair: Tax Gap (dated 14 June)

6. Economic Crime

Ordered, that the corrected written evidence relating to Economic Crime by the Association of

Accounting Technicians (ECR0012) be reported to the House for publication on the internet.

Stephen Curtis, Chairman, The Association of Company Registration Agents (ACRA), Adam

Harper, Director of Strategy & Professional Standards, Association of Accounting Technicians

(AAT), and Mark Hayward, Chief Executive, NAEA Propertymark gave oral evidence.



Members present:



Stewart Hosie Alison McGovern Catherine McKinnell

1. Future programme


Resolved, That the Committee inquire into the Appointment of Professor Jonathan Haskel to

the Monetary Policy Committee.

Resolved, That the Committee inquire into the Appointment of Bradley Fried as Chair of Court,

Bank of England.

2. Service disruption at TSB


internet:

TSB (TSB0002)

TSB (TSB0003)


Marco Santori, Chief Legal Officer, Blockchain, Obi Nwosu, CEO, Coinfloor, Iqbal Gandham,

Chairman, CryptoUK and Managing Director, eToro, and Izabella Kaminska, Editor, FT

Alphaville gave oral evidence.



Members present:



Stewart Hosie Catherine McKinnell Wes Streeting


Ordered, that the written evidence relating to Digital Currencies by Ripple (DGC0060) be

reported to the House for publication on the internet.

2. SME Finance



Warwick Risk Management (SME0040)

LexLaw Solicitors (SME0039)


Ordered, That the following correspondence relating to SME Finance be reported to the House


General Secretary of TBU to the Chair of TSB Remuneration Committee: Service

Disruption at TSB (and attached TBU newsletters) (dated 3 May)

General Secretary of TBU to Chair: Service Disruption at TSB (dated 6 June)

Chairman of TSB to Chair: Service Disruption at TSB (dated 20 June)


Ordered, That the following correspondence relating to the Work of the Valuation Office Agency

be reported to the House for publication on the internet:

Chair to the Chief Executive of the Valuation Office Agency: Grenfell type cladding

(dated 18 June)

5. Sub-Committee

Ordered, That the following written evidence relating to the conduct of tax enquiries and

resolution of tax disputes be reported to the House for publication on the internet:

Chartered Engineer Robert Buchanan (TRE0023)

Christopher Haynes (TRE0008)

Colin Burroughs (TRE0020)

Darren Richmond (TRE0002)

David Neve (TRE0021)

Dr Graham Davies (TRE0042)

Graeme Purdy (TRE0015)

Mr Alan Bromfield (TRE0027)

Mr Andrew Neil (TRE0007)

Mr Brian McCourt (TRE0004)

Mr Chayter Sowerby (TRE0040)

Mr Eric Reid (TRE0033)

Mr Geoffrey Green (TRE0026)

Mr Gregory Clough (TRE0047)

Mr James Brayton (TRE0011)

Mr Lee Lewis (TRE0039)

Mr Matthew Ball (TRE0006)

Mr Michael Scarlett (TRE0018)

Mr Neil Entwistle (TRE0025)

Mr Peter Marriott (TRE0043)

Mr Simon Chisholm (TRE0012)

Mr Trevor Stearn (TRE0019)

Mr Wayne Corrigan (TRE0044)

Ms Lesley Hutcheson (TRE0013)

NoToRetroTax (NTRT) (TRE0017)

Stephen Packham (TRE0003)

Stephen Packham (TRE0010)

6. Correspondence


internet:

Chair to the Chancellor of the Exchequer: Business Rates (dated 18 June)

Chancellor of the Exchequer to the Chief Executive of HM Revenue and Customs: Remit

of HM Revenue and Customs (dated 15 June)

7. Appointment of Professor Jonathan Haskel to the Monetary Policy Committee

Ordered, That the following correspondence relating to the Appointment of Professor Jonathan

Haskel to the Monetary Policy Committee be reported to the House for publication on the internet:

Chair to Permanent Secretary to HM Treasury: MPC Appointment (dated 4 June)

Permanent Secretary to HM Treasury to Chair: Gender diversity on the MPC (dated 19

June)

Ordered, That the following written evidence relating to the Appointment of Professor Jonathan

Haskel to the Monetary Policy Committee be reported to the House for publication on the internet:

Jonathan Haskel C.V. (AJH0001)

Jonathan Haskel questionnaire (AJH0002)

Professor Jonathan Haskel, appointed external member of the Monetary Policy Committee gave

oral evidence.

8. Appointment of Bradley Fried as Chair of Court, Bank of England

Ordered, That the following written evidence relating to the Appointment of Bradley Fried as

Chair of Court, Bank of England be reported to the House for publication on the internet:

Bradley Fried questionnaire (APB0001)

Bradley Fried C.V. (APB0002)

Bradley Fried, appointed Chair of Court, Bank of England gave oral evidence.



Members present:



Mr Alister Jack John Mann Catherine McKinnell Wes Streeting


Ordered, That the following correspondence relating to Bank of England Inflation Reports be


Governor of the Bank of England to Chair: Supplementary evidence (dated 22 June)

2. Securing the tax base

Ordered, That the following written evidence relating to Securing the tax base be reported to the


ATT (STB0012)

ICAEW (STB0031)


Draft Report (Appointment of Bradley Fried as Chair of Court, Bank of England), proposed by


 


are published with the Sixteenth Report of the Committee, HC 1319.

3. Appointment of Professor Jonathan Haskel to the Monetary Policy Committee

Draft Report (Appointment of Professor Jonathan Haskel to the Monetary Policy Committee),


 


are published with the Seventeenth Report of the Committee, HC 1318.

4. SME Finance

John Glen MP, Economic Secretary to the Treasury, Philip Duffy, Director, Enterprise and

Growth, HM Treasury, and David Raw, Deputy Director, Banking and Credit, HM Treasury gave

oral evidence.

[Adjourned till Tuesday 3 July at 2.00 p.m.

Tuesday 3 July 2018

Members present:


Mr Simon Clarke Charlie Elphicke Stephen Hammond Stewart Hosie


1. Future Programme


Resolved, That the Committee inquire into the Appointment of Andy King as member of the

Budget Responsibility Committee, OBR.

2. Economic Crime



ACRA

Amnesty International (ECR0060)

Bond Anti-Corruption Group (ECR0036)

Campaign for Fairer Gambling (ECR0021)

Corruption Watch (ECR0028)

Dr John Heathershaw (ECR0017)

Dr Nicholas Ryder (ECR0031)

HSBC (ECR0063)

Mather & Co Solicitors (ECR0058)

Money Saving Expert (ECR0062)

NAB Customer Support Group (ECR0054)

Rights and Accountability in Development (ECR0035)

The White Collar Crime Centre (ECR0026)

University of Sheffield Management School (ECR0033)

Visa Europe (ECR0061)

3. UK’s economic relationship with the European Union

Ordered, That the following correspondence relating to the UK’s economic relationship with the


Economic Secretary to the Treasury to Chair: Communication on Financial Services EU

Withdrawal Preparations (dated 27 June)


Ordered, That the written evidence relating to the Work of the Valuation Office Agency submitted

by the Valuation Office Agency (VOA0001) be reported to the House for publication on the

internet.

5. Correspondence


internet:

Minister of State for Housing to Chair: Grenfell type cladding (dated 25 June)

Lloyds Banking Group Public Affairs Director to Chair: HBOS Reading (dated 26 June)

Dame Linda Dobbs DBE to Chair: HBOS Reading (dated 28 June)

Chief Executive of Equality and Human Rights Commission to Chair: Access to financial

services for consumers with visual impairments (dated 12 June)

Profession Russel Griggs to Chair: HBOS Reading (undated)

Chancellor of the Exchequer to Chair: Business Rates (dated 28 June)

Chief Executive of the Valuation Office Agency to Chair: Grenfell type cladding (dated

28 June)

6. Sub-Committee

Ordered, That the following correspondence relating to the Work of UKGI and UKFI be reported


Chief Executive of UK Government Investments to the Chair of the Sub-Committee:

UKGI’s shareholder vote at RBS (dated 25 June)


Ordered, That the following written evidence relating to Securing the Tax Base be reported to the


ABTA—The Travel Association (STB0027)

Association of Accounting Technicians (AAT) (STB0008)

Association of Pension Lawyers (STB0018)

British Property Federation (STB0013)

British Retail Consortium (STB0009)

Buffery & Co Ltd (STB0015)

Charity Tax Group (STB0022)

Dr Ian Roxan (STB0036)

Grant Thornton UK LLP (STB0024)

HBAA (STB0021)

Hove Childrens Centre Limited (STB0003)

Independent Heath Professionals Association (STB0023)

KPMG LLP (STB0014)

Mr Peter Lucas (STB0007)

National Hairdressers' Federation (STB0017)

National Trust for Scotland (STB0016)

News Media Association (STB0010)

News UK (STB0020)

PPA (STB0033)

Professor Richard Murphy (STB0026)

Sheena Green (STB0001)

Simple Accounting Ltd (STB0025)

The Heritage Alliance (STB0034)

The Investment Association (STB0035)

The Publishers Association (STB0028)

Thomas O'Neill (STB0002)

vatadvice.org (STB0011)

Daniel Lyons, Partner, Tax Policy Group, Deloitte LLP, Richard Allen, Retailers Against VAT

Abuse Schemes, Emma Rawson, Technical Officer, Association of Taxation Technicians, and

Stephen Taylor, Chair of the VAT Sub-group, Association of Taxation Technicians gave oral

evidence.

[Adjourned till Wednesday 4 July at 2.00 p.m.

Wednesday 4 July 2018

Members present:



John Mann Alison McGovern Catherine McKinnell Wes Streeting

1. Future Programme


Resolved, That the Committee inquire into the Independent Review of the Financial Ombudsman

Service.

2. Economic Crime


Donald Toon, Prosperity Command, National Crime Agency, and Mark Thompson, Interim

Director, Serious Fraud Office gave oral evidence.

Nicky Morgan resumed the chair.

Donald Toon, Prosperity Command, National Crime Agency, and Mark Thompson, Interim

Director, Serious Fraud Office gave oral evidence.


David Geale, Director of Policy, Financial Conduct Authority, Martin Etheridge, Head of Note

Operations, Bank of England, and David Raw, Deputy Director Banking and Credit, HM Treasury

gave oral evidence.

[Adjourned till Tuesday 10 July at 9.45 a.m.

Tuesday 10 July 2018

Members present:


Mr Simon Clarke Charlie Elphicke Stephen Hammond Mr Alister Jack

John Mann Catherine McKinnell Wes Streeting


Ordered, That the following written evidence relating to Digital Currencies be reported to the


Crypto UK (DGC0061)

Coinfloor Limited (DGC0062)

2. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by R3 (ECR0066)



Ordered, That the following correspondence relating to EU Insurance Regulation be reported to


Chair to the Chief Executive of the Prudential Regulation Authority: Solvency II (dated 3

July)


Ordered, That the following correspondence relating to Service disruption at TSB be reported to


Economic Secretary to the Treasury to Chair: Service Disruption at TSB (dated 2 July)

5. Sub-Committee

Ordered, That the following correspondence relating to the Conduct of Tax Enquiries and the


C Clark (TRE0067)

David Ainslie (TRE0057)

David Cochrane (TRE0088)

David Yates (TRE0072)

Edward Martin (TRE0068)

Jason Grobler (TRE0063)

Jason Whiffin (TRE0070)

Marie Scott (TRE0082)

Mark Alderton (TRE0083)

Matthew Donkin (TRE0085)

Mercia Group ltd (TRE0064)

Mr Alan Hart (TRE0062)

Mr Barry Ward (TRE0076)

Mr Brian Duncan (TRE0078)

Mr Colin Blundell (TRE0069)

Mr David Jones (TRE0086)

Mr David Murphy (TRE0060)

Mr Hugo ap Owen (TRE0056)

Mr Les Parslow (TRE0051)

Mr Nathan Hamilton (TRE0091)

Mr Oliver Greenacre (TRE0055)

Mr Paul Harrington (TRE0071)

Mr Raoul Strachan (TRE0074)

Mr Robert Fyfe (TRE0090)

Mr Robert Stannard (TRE0084)

Mr Scott Johnston (TRE0054)

Mr Stephen White (TRE0073)

Mrs Jenny-Lee Fyfe (TRE0089)

Sabina Mangosi (TRE0081)

Tim Amphlett (TRE0079)

WTT Consulting Ltd (TRE0123)

Ordered, That the written evidence relating to Tax Avoidance and Evasion submitted by WTT

Consulting (TAV0016) be reported to the House for publication on the internet.

6. Correspondence


internet:

Chair to the Senior Responsible Officer at the Prudential Regulation Authority: Prudential

regulation of Co-Op Bank (dated 20 June)

Chair to Economic Secretary to HM Treasury: Prudential regulation of Co-Op Bank (dated

20 June)

Economic Secretary to HM Treasury to Chair: Prudential regulation of Co-Op Bank (dated

28 June)

Senior Responsible Officer at the Prudential Regulation Authority to Chair: Prudential

regulation of Co-Op Bank (dated 29 June)

Governor of the Bank of England to Chair: Diversity in public appointments and at senior

levels within the Bank of England (dated 4 July)

7. Appointment of Andy King as member of the Budget Responsibility Committee, Office for

Budget Responsibility

Ordered, That the following written evidence relating to the Appointment of Andy King as

member of the Budget Responsibility Committee, Office for Budget Responsibility be reported to


Andy King C.V. (AKG0002)

Andy King Questionnaire (AKG0001)

Andy King, nominated member of the Budget Responsibility Committee, gave oral evidence.

Draft Report (Appointment of Andy King to the Budget Responsibility Committee of the OBR),


 


are published with the Eighteenth Report of the Committee, HC 1340.



Members present:



Mr Alister Jack John Mann Catherine McKinnell Wes Streeting

1. Future Programme


Resolved, That the Chair, Rushanara Ali and Catherine McKinnell visit Mastercard UK, London

in a representative capacity, in connection with its inquiry into Economic Crime.

2. Correspondence


internet:

Chancellor of the Exchequer to Chair: Proposed division of responsibility for EU financial

services (dated 7 July)



Prudential Regulation Authority, Sarah Breeden, Executive Director, International Banks

Supervision, Bank of England, and David Belsham, External member of the Prudential Regulation

Committee oral evidence.

[Adjourned till Tuesday 17 July at 8.55 a.m. at Farnborough International Airshow


The Chair, Rushanara Ali, Charlie Elphicke, Stephen Hammond, John Mann, Catherine

McKinnell and Wes Streeting visited the Farnborough International Airshow, Farnborough, in

connection with the Committee’s inquiry into Bank of England Financial Stability Reports, in

accordance with the Committee’s decision of 9 May.

Members present:


Rushanara Ali, Charlie Elphicke Stephen Hammond



Dr Mark Carney, Governor, Bank of England, Andrew Bailey, Member of the FPC and Chief

Executive of the FCA, Sir Jon Cunliffe, Deputy Governor for Financial Stability, and Elisabeth

Stheeman, External Member of Financial Policy Committee gave oral evidence.



Members present:


Rushanara Ali, Charlie Elphicke Stewart Hosie

Mr Alister Jack John Mann Wes Streeting


Ordered, That, subject to the discretion of the Chair, documents relating to the work of the

Committee shall be reported to the House for publication.


Ordered, That the written evidence relating to the Appointment of Bradley Fried as Chair of Court,

Bank of England submitted by Bradley Fried (APB0003) be reported to the House for publication

on the internet.


Ordered, That the written evidence relating to Digital Currencies submitted by the Bank of

England (DGC0063) be reported to the House for publication on the internet.

4. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by the Serious Fraud

Office (ECR0068) be reported to the House for publication on the internet.


Ordered, That the written evidence relating to EU Insurance Regulation submitted by the

Prudential Regulation Authority (SLV0003) be reported to the House for publication on the

internet.

6. HMRC Annual Report and Accounts

Ordered, That the written evidence relating to HMRC Annual Report and Accounts inquiry

submitted by HM Revenue & Customs (HMR0001) be reported to the House for publication on

the internet.



internet:

Chancellor of the Exchequer to Chair: Financial Services EU Exit (dated 7 July)

8. Correspondence


internet:

Chair of the Payment System Regulator to Chair: First quarterly update on tackling

authorised push payment fraud (dated 3 April)

Chair of the Payment System Regulator to Chair: Second quarterly update on tackling

authorised push payment fraud (dated 6 July)

Chief Executive of the Financial Conduct Authority to Chair: Impact of the future

framework with the EU on the FCA’s ability to meet its objectives (dated 10 July)

Chief Executive of the Prudential Regulation Authority to Chair: Audit of Goldman Sachs

(dated 16 July)

Financial Secretary to the Treasury to Chair: Child Benefit (dated 28 March)

Chair to Chief Executive of HM Revenue and Customs: Child Benefit (dated 17 May)

Chief Executive of HM Revenue and Customs to Chair: Child Benefit (dated 25 May)

Chief Executive of HM Revenue and Customs to Chair: Child Benefit (dated 18 June)

Chief Executive of HM Revenue and Customs to Chair: Child Benefit (dated 16 July)

9. Sub-Committee

Ordered, That the following written evidence relating to the conduct of tax enquiries and

resolution of tax disputes be reported to the House for publication on the internet:

Allan Ho (TRE0102)

Anna Garden (TRE0139)

CPAA (TRE0137)

DWF LLP (TRE0168)

Fiona Kelly (TRE0132)

Helen Stone (TRE0146)

John Jeffery (TRE0118)

LCAG (TRE0173)

Loan Charge Action Group (LCAG) (TRE0155)

Malcolm Turnbull (TRE0187)

Mark Ambrose (TRE0135)

Matthew Ruddock (TRE0189)

Miss Andrea Smedley (TRE0103)

Miss Helen Cowley (TRE0141)

Mohan Surendran (TRE0112)

Mr Alistair Anderson (TRE0161)

Mr Anthony Riches (TRE0119)

Mr Campbell Stewart (TRE0095)

Mr Carl Singleton (TRE0099)

Mr Chris Robinson (TRE0164)

Mr Colin Campbell (TRE0100)

Mr Dale Rayment (TRE0136)

Mr Ian Yuill (TRE0138)

Mr Kevin Michael Berney (TRE0130)

Mr Mark Fraser (TRE0126)

Mr Martin Henning (TRE0097)

Mr Michael Buck (TRE0101)

Mr Michael Warner (TRE0149)

Mr Mike Forbes (TRE0188)

Mr Neil McArthur (TRE0148)

Mr Paul O'Donnell (TRE0150)

Mr Peter Mabley (TRE0133)

Mr Richard Horsley (TRE0128)

Mr Richard Monaghan (TRE0120)

Mr Richard Speakman (TRE0170)

Mr Robert Stannard (TRE0084)

Mr Simon Horton (TRE0151)

Mr William Jessop (TRE0096)

Mrs Jacqueline D'Angelo (TRE0104)

Mrs Shamsa Khan (TRE0116)

Ms Minal Goswami (TRE0129)

Natalie Schoon (TRE0113)

Paul Rylance (TRE0107)

Peter Faulkner (TRE0163)

Robert Mitchell (TRE0125)

Sean Sloan (TRE0105)

Simon Oakes (TRE0160)

Stephen Daly (TRE0134)

Steve Stewart (TRE0106)

Tax Justice UK (TRE0162)

Thomas Christophers (TRE0191)


Draft Report (Household finances: income, saving and debt), proposed by the Chair, brought up

and read.

 


are published with the Nineteenth Report of the Committee, HC 565.

11. Independent Review of the Financial Ombudsman Service

Ordered, That the following written evidence relating to the Independent Review of the Financial

Ombudsman Service be reported to the House for publication on the internet:

Consumer Finance Association (IRF0003)

Financial Services Redress (IRF0004)

Mark Davies (IRF0001 & IRF0002)

Richard Lloyd, Independent Reviewer; Caroline Wayman, Chief Ombudsman and Chief

Executive Officer, Financial Ombudsman Service, and Sir Nicolas Montagu KCB, Chairman,

Financial Ombudsman Service gave oral evidence.

[Adjourned till Tuesday 4 September at 1.00 p.m.

Tuesday 4 September 2018

Members present:





Wes Streeting amended his declaration of interests of 11 October 2017 (for details of declarations


2. Evidence reported to the House for publication on 5 September (Order of the Committee, 18

July)



Chairman of TSB to Chair relating to the resignation of the Chief Executive (dated 4

September)


Ordered, That the following correspondence relating to Bank of England Financial Stability

Reports be reported to the House for publication on the internet:

Chief Executive of the Financial Conduct Authority to Chair relating to mortgage

prisoners (dated 24 July)

Governor of the Bank of England to Chair relating to potential impacts of rising

protectionism on the global and UK economies (dated 31 July)

Governor of the Bank of England to Chair relating to distributional consequences of

financial stability policy (dated 3 September)

4. Childcare

Ordered, That the following correspondence relating to Childcare be reported to the House for


Chief Executive and Permanent Secretary of HM Revenue and Customs to Chair relating

to Child Benefit (dated 29 August)


Ordered, That the following correspondence relating to the Independent Review of the Financial


Chair to Chief Executive of the Financial Conduct Authority relating to the Independent

Review of the Financial Ombudsman Service (dated 23 July)

Chief Executive of the Financial Conduct Authority to Chair relating to the Independent

Review of the Financial Ombudsman Service (dated 24 July)

Chair to Chief Ombudsman and Chief Executive of the Financial Ombudsman Service

relating to the Independent Review of the Financial Ombudsman Service (dated 24 July)

Chief Ombudsman and Chief Executive of the Financial Ombudsman Service to Chair

relating to the Independent Review of the Financial Ombudsman Service (dated 24 July)

Director of Fairer PPI to Chair relating to the Independent Review of the Financial

Ombudsman Service (dated 25 July

6. Motability

Ordered, That the following correspondence relating to Motability be reported to the House for


Secretary of State for Work & Pensions to Chair relating to the Government’s Response

to the Thirteenth Report of the Treasury Committee of Session 2017–19 (dated 20 July)

7. RBS’ Global Restructuring Group and its treatment of SMEs

Ordered, That the following correspondence relating to RBS’ Global Restructuring Group and its

treatment of SMEs be reported to the House for publication on the internet:

Chief Executive of RBS to Chair relating to Police Investigation (dated 16 August)


Ordered, That the following written evidence relating to Service Disruption at TSB be reported

to the House for publication:

TSB (TSB0004)

TSB (TSB0005)

9. SME Finance

Ordered, That the written evidence relating to SME Finance submitted by Rishi Khosla

(SME0041) be reported to the House for publication on the internet.

Ordered, That the following correspondence relating to SME Finance be reported to the House


Head of Commercial Banking at HSBC to Chair relating to SME financing (dated 11

July);

Group Chief Financial Officer at CYBG to Chair relating to SME financing (dated 21

August)


Ordered, That the following correspondence relating to the UK's economic relationship with the


Chancellor of the Exchequer to Chair relating to Brexit analysis (dated 23 August)

11. Correspondence


internet:

Complaints Commissioner to Chair relating to the Annual report of the Financial

Complaints Commissioner (dated 20 July)

Economic Secretary to Chair relating to Banking Competition Remedies Ltd (BCR) (dated

30 July)

Governor of the Bank of England to Chair relating to the withdrawal agreement affects

(dated 12 July)

Chief Executive of PayPoint to Chair relating to the 21 July network outage (dated 27

July)

Managing Director of the Payment Systems Regulator to Chair relating to Cash payments

(dated 1 August)


Ordered, That the written evidence relating to Bank of England Inflation Reports submitted by

Silvana Tenreyro (INF0010) be reported to the House for publication on the internet.

Dr Mark Carney, Governor of the Bank of England, Andy Haldane, Chief Economist and

Executive Director, Monetary Analysis & Statistics, and Silvana Tenreyro, Member of the

Monetary Policy Committee gave oral evidence.

[Adjourned till Wednesday 5 September at 2.00 p.m.

Wednesday 5 September 2018

Members present:



Stewart Hosie Catherine McKinnell John Mann Wes Streeting

1. Future Programme


Resolved, That the Chair and Mr Steve Baker visit the Isle of Man in a representative capacity, in

connection with the Committee’s inquiry into Economic Crime and the Sub-Committee’s inquiry

into tax avoidance and evasion.

Resolved, That the Committee visit Nationwide Building Society, Newbury, in connection with

its inquiry into Economic Crime.

Resolved, That the Committee inquire into the appointment of Jill May as external member of the

Prudential Regulation Committee.

Resolved, That the Committee inquire into the appointment of Julia Black as external member of

the Prudential Regulation Committee.


Resolved, That the Chair respond to the Chief Executive of RBS’s letter of 16 August, outlining

the Committee’s concerns around the oral evidence provided by the Chief Executive of RBS on

30 January.

[Adjourned till Tuesday 11 September at 9.00 a.m.

Tuesday 11 September 2018

Members present:



Stephen Hammond Stewart Hosie Catherine McKinnell

1. Special Report

 

Draft Special Report (Government response to Women in Finance Report) proposed by the

Chair, brought up, read the first and second time, and agreed to.

 

The Government’s response to the Fifteenth Report from the Committee was appended to the

Report.

 

Resolved, That the Report, be the Sixth Special Report of the Committee to the House.

 





Kevin Wall, CEO, Barclays Ireland, Mark Garvin, Vice Chairman, JPMorgan Corporate and

Investment Bank and James Bardrick, Head of Citi UK and CEO of Citigroup Global

Markets Ltd gave oral evidence.

[Adjourned till Wednesday 12 September at 2.00 p.m.


Members present:



Stewart Hosie Alison McGovern Wes Streeting




2. Correspondence


internet:

Chancellor of the Exchequer to Chair relating to extending the term of the Governor of

the Bank of England (dated 11 September)

3. Appointment of Andy King as member of the Budget Responsibility Committee, OBR

Ordered, That the written evidence relating to the Appointment of Andy King as member of the

Budget Responsibility Committee, OBR submitted by Andy King (AKG0003) be reported to the

House for publication on the internet.

4. Appointment of Jill May as external member of the Prudential Regulation Committee

Ordered, That the following written evidence relating to the Appointment of Jill May as external

member of the Prudential Regulation Committee be reported to the House for publication:

Jill May CV (AJM0001)

Jill May questionnaire (AJM0002)

Jill May, appointed external member of the Prudential Regulation Committee gave oral evidence.

Draft Report (Appointment of Jill May to the Prudential Regulation Committee), proposed by the

Chair, brought up and read.


are published with the Twentieth Report of the Committee, HC 1511.

5. Appointment of Julia Black as external member of the Prudential Regulation Committee

Ordered, That the following written evidence relating to the Appointment of Julia Black as

external member of the Prudential Regulation Committee be reported to the House for publication:

Julia Black CV (AJB0001)

Julia Black questionnaire (AJB0002)

Julia Black, appointed external member of the Prudential Regulation Committee gave oral

evidence.

Draft Report (Appointment of Professor Julia Black to the Prudential Regulation Committee),



are published with the Twenty-First Report of the Committee, HC 1512.

[Adjourned till Tuesday 9 October at 1.45 p.m.


Members present:



Stephen Hammond Catherine McKinnell Wes Streeting


Ordered, That the following correspondence relating to Household finances: income, saving and


Economic Secretary to the Treasury to Chair relating to the government response (dated

September)

Draft Special Report (Household finances: income, saving and debt: Government Response to the

Committee’s Nineteenth Report of session 2017–19), proposed by the Chair, brought up and read

the first and second time, and agreed to.

The Government response to the Nineteenth Report from the Committee of Session 2017–19 was


Resolved, That the Report be the Seventh Special Report of the Committee to the House.




2. Future Programme

 


Resolved, That the Committee inquire into the Budget 2018.

Resolved, That the Committee inquire into Consumers' access to financial services.

Ordered, That the Chair have leave to visit Lloyds of London, London in a representative capacity.



the Bank of England (INF0011) be reported to the House for publication on the internet.


Ordered, That the written evidence relating to Securing the Tax Base submitted by the Association

of Taxation Technicians (STB0038) be reported to the House for publication on the internet.

5. Work of the Prudential Regulation Authority

Ordered, That the written evidence relating to the work of the Prudential Regulation Authority

submitted by the Financial Conduct Authority (PRA0001) be reported to the House for publication

on the internet.

6. Correspondence


internet:

Managing Director of the Payment Systems Regulator to Chair relating to the update on

LINK ATMs (dated 11 September)

Chief Executive of Cashplus to Chair relating to IT outage (dated 28 September)

Chief Executive of RBS to Chair relating to IT outage at NatWest, RBS and Ulster Bank

(dated 28 September)

Chief Executive of Barclays to Chair relating to IT outage with appendix (dated 28

September)

Chief Executive of HM Revenue and Customs to Chair relating to National Insurance

credits between parents (dated 27 September)

7. Economic Crime

Colin Bell, Group Head of Financial Crime Risk, HSBC, and Stephen Jones, CEO, UK

Finance gave oral evidence.



Members present:





Ordered, That Professor Sir Stephen John Nickell be appointed a Specialist Adviser to assist the

Committee in matters related to the UK’s economic relationship with the European Union (for

details of declarations of interests, see Appendix II).

2. Economic Crime

Rena Lalgie, Director, Office of Financial Sanctions Implementation, HM Treasury, Simon

York, Director, Fraud Investigation Service, HM Revenue and Customs, and Alison Barker,

Director of Specialist Supervision, Financial Conduct Authority gave oral evidence.



Members present:






Ombudsman Service be reported to the House for publication:

Chief Ombudsman to Chair relating to the Independent Review of the Financial

Ombudsman Service (and annex) (dated 25 September)


Ordered, That the written evidence relating to the RBS’ Global Restructuring Group and its

treatment of SMEs submitted by RBS (RBS0004) be reported to the House for publication on the

internet.

3. Consumers' access to financial services

Sian Williams, Director of the Financial Health Exchange, Toynbee Hall, and Matthew Upton,

Head of Consumer and Public Policy, Citizens Advice gave oral evidence.



Members present:


Mr Simon Clarke Charlie Elphicke Stephen Hammond

Stewart Hosie Wes Streeting

1. Correspondence


Governor of the Bank of England to Chair relating to EU Withdrawal Agreement scenario

analysis (dated 16 October)

2. Re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at the Bank

of England

Ordered, That the following written evidence relating to the Re-appointment of Sir Jon Cunliffe

as Deputy Governor for Financial Stability at the Bank of England be reported to the House for

publication:

Sir Jon Cunliffe CV (SJC0001)

Sir Jon Cunliffe questionnaire (SJC0002)

Sir Jon Cunliffe, Deputy Governor for Financial Stability at the Bank of England gave oral

evidence.

Draft Report (Re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at

the Bank of England), proposed by the Chair, brought up and read.


are published with the Twenty-Third Report of the Committee, HC 1626.



Members present:


Stewart Hosie Alison McGovern Catherine McKinnell Wes Streeting

In the absence of the Chair, Stephen Hammond was called to the chair.


Ordered, That the following correspondence relating to RBS’ Global Restructuring Group and its

treatment of SMEs be reported to the House for publication:

Chief Executive of RBS to Chair relating to Criminal Investigations at RBS (dated 12

October 2018)

2. Correspondence


Director General of Customer Strategy and Tax Design at HM Revenue and Customs to

Chair relating to Making Tax Digital (dated 16 October 2018)

3. SME Finance

Simon Walker CBE, Independent Chair of UK SME Complaints and Resolution Review, and

Professor Christopher Hodges, Professor of Justice Systems, University of Oxford gave oral

evidence.



Members present:



Stephen Hammond Catherine McKinnell Wes Streeting

1. SME Finance

Draft Report (SME Finance), proposed by the Chair, brought up and read.


are published with the Twenty-Fourth Report of the Committee, HC 805.

2. Work of the Treasury

Sir Tom Scholar, Permanent Secretary, HM Treasury, Kate Ivers, Acting Finance Director, HM

Treasury, and Charles Roxburgh, Second Permanent Secretary, HM Treasury gave oral evidence.


Thursday 25 October 2018

The Chair visited Lloyd’s of London, London in a representative capacity, in accordance with the

Committee’s decision of 9 October 2018.


Members present:




1. SME Finance

Draft Report (SME Finance), proposed by the Chair, brought up and read.


are published with the Twenty-Fourth Report of the Committee, HC 805.


Ordered, That the following correspondence relating to the work of the Financial Conduct

Authority be reported to the House for publication:

Chief Executive of the Financial Conduct Authority to Chair relating to the Financial

Services Register (dated 23 October)

3. Correspondence

Ordered, That the following correspondence relating to Economic Crime be reported to the House

for publication:

Chancellor of the Exchequer to Chair relating to Fixed Odds Betting Terminals (dated 3

August)

4. Economic Crime

Ordered, That the following written evidence relating to Economic Crime be reported to the House

for publication:

HMRC (ECR0070)

FCA: Supplementary evidence (ECR0071)

Office of Financial Sanctions Implementation (ECR0072)

UK Finance: Supplementary evidence (ECR0074)

NCA: Supplementary evidence (ECR0073)


for publication:

Director of Specialist Supervision of the Financial Conduct Authority to Chair relating to

Staff and Budget (dated 19 October)

Parliamentary Under-Secretary of State to BEIS to Chair relating to Companies House

(dated 22 October)

John Glen MP, Economic Secretary to the Treasury, Rt Hon Ben Wallace MP, Minister of State

for Security at the Home Office, and Robert Buckland QC MP, Solicitor General gave oral

evidence.



Members present:


Rushanara Ali Colin Clark Stephen Hammond

Stewart Hosie John Mann Alison McGovern


Colin Clark declared his interests, in accordance with the Resolution of the House of 13 July 1992

(for details of declarations of interests, see Appendix I)

2. Future programme


Resolved, That the Committee visit the Financial Conduct Authority, London, in connection with

its inquiry into the work of the Financial Conduct Authority.

3. Budget 2018

Robert Chote, Chairman, OBR, Prof Sir Charles Bean, Member, Budget Responsibility

Committee, and Andy King, Member, Budget Responsibility Committee gave oral evidence.

[Adjourned till Thursday 1 November at 9.45 a.m.

Thursday 1 November 2018

Members present:


Rushanara Ali Colin Clark Mr Simon Clarke Charlie Elphicke Stephen Hammond


1. Future programme


Resolved, That the Committee visit the Waterloo Action Centre, London, in connection with its

inquiry into consumers' access to financial services.

2. Budget 2018

Paul Johnson, Director, IFS, Rain Newton-Smith, Chief Economist, CBI, and Professor Diane

Elson, University of Essex gave oral evidence.

[Adjourned till Monday 5 November at 4.15 p.m.

Monday 5 November 2018

Members present:




1. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by UK Finance

(ECR0075) be reported to the House for publication on the internet.

2. Correspondence


Secretary of State for Work and Pensions to Chair relating to Transfer of National

Insurance credits (child benefit) (dated 28 October)

3. Budget 2018

Ordered, That the following written evidence relating to the Budget 2018 be reported to the House

for publication:

ICAEW (B180002)

Chartered Institute of Taxation (B180003)

Rt Hon Philip Hammond MP, Chancellor of the Exchequer, and Dan York-Smith, Director for

Strategy, Planning and Budget, HM Treasury gave oral evidence.

[Adjourned till Tuesday 13 November at 2.00 p.m.


Members present:




1. Future programme


Resolved, That the Committee inquire into the work of the Banking Standards Board.

2. Budget 2018

Ordered, That the following written evidence relating to the Budget 2018 be reported to the House

for publication:

AAT (B180004)

ACAA (B180005)

3. Work of the Chancellor of the Exchequer

Ordered, That the written evidence relating to the Work of the Chancellor of the Exchequer

submitted by HM Treasury (CHX0002) be reported to the House for publication on the internet.

3. Correspondence


internet:

Economic Secretary to the Treasury to Chair relating to Trapped Borrowers and UK Asset

Regulation (dated 12 November)

Chief Secretary to the Treasury to Chair relating to Public Service Pension Scheme

Valuations (dated 12 November)

Chair to Chancellor of the Exchequer relating to Pension Costs (dated 13 November)

Chair and Chairs of the Science and Technology Committee and Business, Energy and

Industrial Strategy Committee to Chancellor of the Exchequer relating to the Small

Business Research Initiative (SBRI) (dated 24 April)

4. Work of the Banking Standards Board

Dame Colette Bowe, Chairman, Banking Standards Board, and Alison Cottrell, CEO, Banking

Standards Board gave oral evidence.



Members present:


Rushanara Ali Colin Clark Stephen Hammond

Stewart Hosie John Mann Wes Streeting


Katie Evans, Head of Research and Policy, Money and Mental Health Policy Institute, Eleanor

Southwood, Chair of Trustees, Royal National Institute of Blind People (RNIB), and Jane Vass,

Director Policy and Research, Age UK gave oral evidence.



Members present:




1. Future Programme


Resolved, That the Committee inquire into Review of Local Government Finance.

Resolved, That the Committee agrees to meet concurrently with the Housing, Communities and

Local Government Committee in connection with its inquiry into Review of Local Government

Finance.

2. Budget 2018

Ordered, That the following correspondence relating to Budget 2018 be reported to the House for


Chancellor of the Exchequer to Chair relating to fixed odds betting terminals (dated 19

November)

3. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by 4Keys International



Ordered, That the following correspondence relating to Independent Review of the Financial


Chief Executive of the Financial Ombudsman Service relating to the ongoing review of

sample cases (dated 1 November)

Chair to Chief Executive of the Financial Ombudsman Service relating to the ongoing

review of sample cases (dated 6 November)

Chief Executive of the Financial Ombudsman Service to Chair relating to the ongoing

review of sample cases (dated 13 November)

5. Correspondence


internet:

Chief Executive Officer of Visa Europe to Chair relating to service outages (dated 14

November)


Ordered, That the following written evidence relating to Bank of England Inflation Reports be


Sir Jon Cunliffe Annual Report (INF0013)

Michael Saunders Annual Report (INF0014)

Bank of England (INF0012)

Dr Mark Carney, Governor of the Bank of England, Sir Jon Cunliffe, Deputy Governor for

Financial Stability, Bank of England, Andy Haldane, Chief Economist and Executive Director,

Monetary Analysis & Statistics, and Michael Saunders, Member of the Monetary Policy




Members present:


Rushanara Ali Colin Clark Mr Simon Clarke Charlie Elphicke


1. Future Programme


Resolved, That the Committee inquire into IT failures in the financial services sector.

2. HM Revenue and Customs Annual Report and Accounts

Jon Thompson, Chief Executive and Permanent Secretary, HM Revenue and Customs, Justin

Holliday, Chief Finance Officer, HM Revenue and Customs, and Jim Harra, Tax Assurance

Commissioner and Deputy Chief Executive and Second Permanent Secretary, HM Revenue and

Customs gave oral evidence.



Members present:


Colin Clark Mr Simon Clarke

Charlie Elphicke Catherine McKinnell


Ordered, That, subject to the discretion of the Chair, documents from HM Treasury, the Financial

Conduct Authority and the Bank of England relating to the UK's economic relationship with the

European Union shall be reported to the House for publication.

Ordered, That the following correspondence relating to The UK's economic relationship with the


Chancellor of the Exchequer to Chair relating to the Committee’s Special Adviser (dated

22 November)


Ordered, That the following correspondence relating to Service disruption at TSB be reported to


Chairman of TSB bank to Chair relating to appointment of New Chief Executive (dated

19 November)

3. Women in Finance

Ordered, That the following correspondence relating to Women in Finance be reported to the


Chief Executive of the Financial Conduct Authority to Chair relating to the Pay Gap at the

FCA (dated 19 November)


Ordered, That the Chair and John Mann have leave to visit Waterloo Action Centre, London in a

representative capacity for the purposes of the Committee’s inquiry into consumers' access to

financial services.

4. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by 4keys International


Richard Piggin, Head of External Affairs, Which, and Richard Emery, Independent Fraud

Investigator, 4Keys International gave oral evidence.

[Adjourned till Monday 3 December at 9.45 a.m.


The Chair and John Mann visited Waterloo Action Centre, London, in connection with the

Committee’s inquiry into the UK's economic relationship with the European Union, in a

representative capacity, in accordance with the Committee’s decision of 1 November and 27

November.

Monday 3 December 2018

Members present:




1. Evidence reported to the House for publication on 28 November (Order of the Committee,

27 November)


Union submitted by the Bank of England (EUN0038) be reported to the House for publication on

the internet.

2. Evidence reported to the House for publication on 29 November (Order of the Committee,

27 November)


Union submitted by the Financial Conduct Authority (EUN0039) be reported to the House for

publication on the internet.



Chief Executive of the Financial Conduct Authority to Chair relating to FCA Impact

Assessment (dated 29 November)

3. Economic Crime

Ordered, That the following written evidence relating to Economic Crime be reported to the House

for publication:

Home Office (ECR0078)

Barrie Cooper (ECR0079)




Andrew Sentance (EUN0045)

Capital Economics (EUN0042)

Institute for Government (EUN0046)

National Institute of Economic and Social Research (EUN0043)

Professor Jagjit Chadha, Director, National Institute of Economic and Social Research, Roger

Bootle, Chairman, Capital Economics, and Dr Gemma Tetlow, Chief Economist, Institute for

Government; Andrew Bailey, Chief Executive, Financial Conduct Authority gave oral evidence.



Members present:


Rushanara Ali Mr Steve Baker Colin Clark Mr Simon Clarke Charlie Elphicke

Stewart Hosie John Mann Alison McGovern Catherine McKinnell Wes Streeting


Mr Steve Baker declared his interests, in accordance with the Resolution of the House of 13 July

1992 (for details of declarations of interests, see Appendix I).

2. Future programme



Dr Mark Carney, Governor, Bank of England, Ben Broadbent, Deputy Governor for Monetary

Policy, Bank of England, Sir Jon Cunliffe, Deputy Governor for Financial Stability, Bank of

England, and Sam Woods, Deputy Governor for Prudential Regulation, Bank of England and

Chief Executive Officer, Prudential Regulation Authority; Sir Tom Scholar, Permanent Secretary,

HM Treasury, Clare Lombardelli, Director General, Chief Economic Adviser, HM Treasury, Sam

Beckett, Director General, EU Exit and Analysis at the Department for Business, Energy and

Industrial Strategy, and Susannah Storey, Acting Director General, Department for Exiting the

European Union gave oral evidence.

[Adjourned till Wednesday 5 December at 9.00 a.m.


Members present:


Rushanara Ali Colin Clark Charlie Elphicke Stewart Hosie




Union submitted by Professor Tim Congdon (EUN0047) be reported to the House for publication

on the internet.

Dr Andrew Sentance CBE, Independent Business Economist; Professor Sir Stephen Nickell,

Specialist Adviser to the Treasury Committee gave oral evidence.



Members present:





Ordered, That, subject to the discretion of the Chair, documents relating to the UK's economic

relationship with the European Union shall be reported to the House for publication.

The Rt Hon Philip Hammond MP, Chancellor of the Exchequer, Clare Lombardelli, Director

General, Chief Economic Adviser, HM Treasury, and Susannah Storey, Acting Director General,

Department for Exiting the European Union gave oral evidence.

[Adjourned till Monday 10 December at 2.30 p.m.

Monday 10 December 2018

Members present:




1. Evidence reported to the House for publication on 6 December (Order of the Committee, 5

December)

Ordered, That the following written evidence relating to the UK’s economic relationship with the

European Union be reported to the House for publication:

Dr Gerard Lyons (EUN0053)

Paul Mortimer-Lee (EUN0040)

ADS Group (EUN0041)

UK Trade Policy Observatory (EUN0044)

Open Europe (EUN0048)

Durham University Business School (EUN0049)

HM Treasury (EUN0050)

2. Future programme

Resolved, That the Committee inquire into Budget 2018 measures relating to the High Street and

Business Rates.

Resolved, That the Committee agrees to meet concurrently with the Housing, Communities and

Local Government Committee in connection with its inquiry into the Budget 2018 measures

relating to the High Street and Business Rates.


Ordered, That the following written evidence relating to the UK’s economic relationship with the

European Union be reported to the House for publication:

Economists for Free Trade (EUN0057)

Dr Graham Gudgin (EUN0056)

Professor Patrick Minford (EUN0055)

Michael Burrage (EUN0054)

Draft Report (The UK’s economic relationship with the European Union: The Government’s and

Bank of England’s Withdrawal Agreement analyses), proposed by the Chair, brought up and read.


are published with the Twenty-Fifth Report of the Committee, HC 1819.



Members present:


Rushanara Ali Mr Steve Baker Colin Clark

Charlie Elphicke Stewart Hosie Catherine McKinnell

1. Economic Crime



Secretary of State for Business, Energy & Industrial Strategy to Chair relating to Limited

Partnerships law (dated 9 December)


Ordered, That Catherine McKinnell has leave to visit Newcastle in a representative capacity, in

connection with its inquiry into Consumers' access to financial services.

Ordered, That Mr Simon Clarke has leave to visit Loftus, Middlesbrough in a representative

capacity, in connection with its inquiry into Consumers' access to financial services.

Ordered, That the following written evidence relating to Consumers' access to financial services


Mr David Allison (CAF0006)

Mr Terry Stanley (CAF0001)

The Finance Foundation (CAF0008)

Mrs Annette Williams (CAF0002)

Mr Alan Campbell (CAF0007)

Citizens Advice (CAF0009)

Dr Andrew Sentance CBE, Independent Business Economist; Professor Sir Stephen Nickell,

Specialist Adviser to the Treasury Committee gave oral evidence.



Members present:


Mr Steve Baker Colin Clark

Stewart Hosie Mr Simon Clarke

1. Future Programme


2. Correspondence from the Clerk of Committees relating to the Cox Review on bullying and

harassment of House of Commons staff





4. Motability

Resolved, That the Committee agrees to meet concurrently with the Work and Pensions

Committee in connection with its inquiry into Motability.

5. Economic Crime



Holly Richardson (ECR0084)

Santander (ECR0080)

Barclays (ECR0081)

Office for National Statistics (ECR0082)

Richard Emery (ECR0083)


Draft Special Report (Government and Financial Conduct Authority Responses to the

Committee’s Twenty-Second Report: Crypto-assets), proposed by the Chair, brought up and read


The Government response to the Twenty-Second Report from the Committee of Session 2017–

19 was appended to the Report.

The Financial Conduct Authority response to the Twenty-Second Report from the Committee of

Session 2017–19 was appended to the Report.

Resolved, That the Report be the Eighth Special Report of the Committee to the House.


7. Correspondence


internet:

Chief Executive of HM Revenue and Customs to Chair relating to HMRC’s future

programme (dated 04 December)

8. IT failures in the financial services sector

Ordered, That Gareth Lewis be appointed Specialist Adviser to assist the Committee in matters

related to IT failures in the financial services sector (for details of declarations of interests, see

Appendix II).



The Committee met concurrently with the Housing, Communities and Local Government

Committee

Members present:

Mr Steve Baker Colin Clark Mr Simon Clarke Stewart Hosie

John Mann Nicky Morgan Wes Streeting

The following members of the Housing, Communities and Local Government Committee were

also present (Standing Order No. 137A).

Mr Clive Betts Tan Dhesi Helen Hayes

Kevin Hollinrake Teresa Pearce Mary Robinson

Mr Clive Betts was called to the Chair (Standing Order No.137A (1)(d)).

1. Budget 2018 measures relating to the High Street and Business Rates

The Rt Hon Mel Stride MP, Financial Secretary to the Treasury, and Mike Williams, Director of

Business and International Tax, HM Treasury gave oral evidence.

[Adjourned till Tuesday 8 January 2019 at 9.45 a.m.


Members present:




1. SME Finance

Draft Special Report (Government and Financial Conduct Authority Responses to the

Committee’s Twenty-Fourth Report: SME Finance), proposed by the Chair, brought up and read


The Government response to the Twenty-Fourth Report from the Committee of Session 2017–19

was appended to the Report.

The Financial Conduct Authority response to the Twenty-Fourth Report from the Committee of


Resolved, That the Report be the Ninth Special Report of the Committee to the House.





Chancellor of the Exchequer to Chair relating to the Government Response to the

Committee's Report on the UK’s economic relationship with the European Union: The

Government’s and Bank of England’s Withdrawal Agreement analyses (dated 3 January)

3. Correspondence


internet:

Chief Executive of the Financial Conduct Authority to Chair relating to Private Polling

(dated 30 November 2018)

Chancellor of the Exchequer to Chair relating to Financial Policy Committee

appointments (dated 2 January)

4. Financial Crime

Police Commander Karen Baxter, Police National Coordinator for Economic Crime, City of

London Police, and Detective Chief Superintendent Peter O’Doherty, Head of Crime and Cyber,

City of London Police gave oral evidence.

[Adjourned till Wednesday 9 January at 9.20 a.m.



Members present:

Mr Steve Baker Charlie Elphicke John Mann

Catherine McKinnell Nicky Morgan


Order No. 137A).

Heidi Allen Rosie Duffield Frank Field Ruth George

Steve McCabe Nigel Mills Chris Stephens Derek Thomas


1. Motability


internet:

Correspondence from Neil Johnson OBE, Non-executive Chair, Motability Operations

Ltd to Chair (dated 7 January 2019 )

Correspondence from Lord Shinkwin to Rt Hon Nicky Morgan MP (dated 7 January

2019)

Charity Commission: The Commission’s regulatory engagement with Motability charity

(HoC), (dated January 2019)

Motability: Summary of recommendations of governance review

Sir Amyas Morse KCB, Comptroller and Auditor General, National Audit Office, Louise Bladen,

VFM Director, National Audit Office, and Stephen Smith, Executive Leader, National Audit

Office, gave oral evidence.

Frank Field was called to the Chair (Standing Order No.137A (1)(d)).

The Lord Sterling of Plaistow GCVO CBE, Chair, Motability Charity, Paul Atkinson CBE,

Director, Motability Charity, Neil Johnson OBE, Non-executive Chair, Motability Operations

Ltd, Mike Betts, Chief Executive, Motability Operations Ltd, and Neill Thomas, Independent

Non-Executive Director and Chair, Remuneration Committee, Motability Operations Ltd, gave

oral evidence.



Members present:




1. Consumers’ access to financial services

Ordered, That the following written evidence relating to Consumers’ access to financial services


Age UK (CAF0067)

AJ Bell (CAF0032)

AllClear (CAF0039)

Alzheimer's Society (CAF0028)

Association of British Insurers (CAF0030)

Association of Convenience Stores (CAF0049)

AXA UK (CAF0058)

Barclays Bank PLC (CAF0023)

British Insurance Brokers' Association (CAF0013)

Building Societies Association (CAF0022)

Cardtronics (CAF0026)

Citizens Advice (CAF0041)

CLIC Sargent (CAF0024)

EDEN City Outreach (CAF0029)

Equifax Limited (CAF0043)

Fair By Design (CAF0050)

Finance & Leasing Association CAF0063)

Financial Conduct Authority (CAF0069)

Financial Ombudsman Service (CAF0048)

Hargreaves Lansdown (CAF0021)

Independent Age (CAF0070)

Institute and Faculty of Actuaries (CAF0033)

Investment & Life Assurance Group (CAF0046)

Later Life Ambitions (CAF0066)

Lending Standards Board (CAF0034)

LINK Consumer Council (CAF0025)

LINK Scheme (CAF0012)

Lloyds Banking Group (CAF0031)

LQID Bank (CAF0035)

LV= (CAF0054)

Macmillan Cancer Support (CAF0037)

Money Advice Trust (CAF0027)

Money and Mental Health Policy Institute (CAF0047)

Morses Club PLC (CAF0015)

Mrs Hannah Lane (CAF0010)

NAT (National AIDS Trust) (CAF0051)

Open Banking (CAF0055)

PayPoint (CAF0020)

PIMFA (CAF0016)

Positive Money (CAF0061)

Post Office (CAF0068)

Quilter plc (CAF0017)

Responsible Finance (CAF0056)

Scope (CAF0038)

StepChange Debt Charity (CAF0019)

The Consumer Council (CAF0064)

The Co-Operative Bank (CAF0059)

The Financial Inclusion Commission (CAF0052)

The Low Incomes Tax Reform Group (CAF0018)

The Pensions Advisory Service (CAF0057)

The RSA (CAF0040)

tifgroup (CAF0045)

TISA (CAF0014)

UK Finance (CAF0044)

Unite the union (CAF0042)

Which? (CAF0065)

2. Correspondence


internet:

Chief Executive of UK Asset Resolution to Chair relating to Mortgage Prisoners (dated 7

January)


Andrew Bailey, Chief Executive, Financial Conduct Authority, and Charles Randell, Chairman,

Financial Conduct Authority gave oral evidence.

[Adjourned till Wednesday 16 January at 9.00 a.m.


Members present:


Mr Steve Baker Colin Clark Mr Simon Clarke John Mann


1. Future programme


Resolved, That the Committee inquire into the future of financial services.


Dr Mark Carney, Governor, Bank of England, Richard Sharp, External member of the Financial

Policy Committee, Bank of England, Anil Kashyap, External member of the Financial Policy

Committee, Bank of England, and Alex Brazier, Executive Director (Financial Stability Strategy

and Risk), Bank of England gave oral evidence.



Members present:



Stewart Hosie John Mann Catherine McKinnell

1. Consumers’ Access to Financial Services

Ordered, That the following written evidence relating to Consumers’ Access to Financial Services

be reported to the House for publication:

38 Degrees (CAF0073)

AMI (CAF0071)

Consumer Credit Association (CAF0075)

Debt Hacker (CAF0074)

Elaine Lovell (CAF0072)

Financial Services Consumer Panel (CAF0060)

The Consumer Council (CAF0076)

2. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by Master Card

Vocalink (ECR0085) be reported to the House for publication on the internet.



Union submitted by the Bank of England (EUN0058) be reported to the House for publication on

the internet.

4. Correspondence


internet:

Financial Secretary to the Treasury to Chair relating to Entrepreneurs’ Relief (dated 9

January)

HM Revenue and Customs to Chair relating to child benefit research and interest charged

Richard Lloyd to Chair relating to the Independent Review of the Financial Ombudsman

Service (dated 14 January)

Economic Secretary to the Treasury to Chair relating to a proposal for a temporary

transition power (dated 17 January)

5. Sub-Committee

Ordered, That the written evidence relating to the Conduct of Tax Enquiries and the Resolution

of Tax Disputes submitted by Iceland Foods Limited (TRE0196) be reported to the House for



Ordered, That the written evidence relating to the Independent Review of the Financial

Ombudsman Service submitted by the Financial Ombudsman Service (IRF0005) be reported to

the House for publication on the internet.

Caroline Wayman, Chief Ombudsman and Chief Executive Officer, Financial Ombudsman

Service, and Sir Nicholas Montagu KCB, Chairman, Financial Ombudsman Service gave oral

evidence.



Members present:



Charlie Elphicke Alison McGovern Wes Streeting

1. Future programme


Resolved, That the Committee inquire into Tax enquiries and resolution of tax disputes.

2. Correspondence


internet:

Minister for Implementation to Chair relating to pre-appointment scrutiny (dated 17

January)



Prudential Regulation Authority, Sandra Boss, External Member, Prudential Regulation

Committee, and David Rule, Executive Director, Insurance Supervision, Prudential Regulation

Authority gave oral evidence.


Thursday 24 January 2019

Catherine McKinnell visited Newcastle City Library, Newcastle, in connection with the

Committee’s inquiry into Consumers’ Access to Financial Services, in a representative capacity,

in accordance with the Committee’s decision of 11 December 2018.


Members present:




1. Sub-Committee

Ordered, That the written evidence relating to the conduct of tax enquiries and resolution of tax

disputes submitted by HM Revenue and Customs (TRE0197) be reported to the House for



John Glen MP, Economic Secretary to the Treasury, Andrew Bailey, Chief Executive, Financial

Conduct Authority, and Sam Woods, Deputy Governor for Prudential Regulation, Bank of

England and Chief Executive Officer, Prudential Regulation Authority gave oral evidence.



Members present:


Rushanara Ali Colin Clark Charlie Elphicke

Stewart Hosie Wes Streeting

1. Future programme


Resolved, That the Committee inquire into Spring Statement 2019.

2. Appointment of Julia Black as external member of the Prudential Regulation Committee

Ordered, That the following correspondence relating to the appointment of Julia Black as external

member of the Prudential Regulation Committee be reported to the House for publication on the

internet:

Julia Black to the Chair relating to external appointments (dated 24 January)

3. Correspondence


internet:

Economic Secretary to the Treasury to the Chair relating to mortgage prisoners (dated 30

January)

4. Tax enquiries and resolution of tax disputes

Jim Harra, Second Permanent Secretary and Tax Assurance Commissioner, HM Revenue and

Customs, Penny Ciniewicz, Director General Customer Compliance, HM Revenue and Customs,

and Mary Aiston, Director Counter-Avoidance, HM Revenue and Customs gave oral evidence.


Thursday 31 January 2019

The Chair, Rushanara Ali and Catherine McKinnell visited Mastercard UK, London, in

connection with the Committee’s inquiry into Economic Crime in accordance with the

Committee’s decision of 11 July 2018.


Members present:


Rushanara Ali Mr Steve Baker Colin Clark Charlie Elphicke


1. Budget 2018

Draft Report (Budget 2018), proposed by the Chair, brought up and read.


are published with the Twenty-Sixth Report of the Committee, HC 1606.


Ordered, That the written evidence relating to Consumers’ access to financial services submitted

by the Money Advice Service (CAF0062) be reported to the House for publication on the internet.

Tom Blomfield, Founder and Chief Executive, Monzo Bank, Robin Bulloch, Managing Director,

Lloyds Bank and Bank of Scotland Community Banks, and Martin Kearsley, Banking Director,

Post Office gave oral evidence.



Members present:



In the absence of the Chair, Wes Streeting was called to the chair.

1. Future Programme


2. Motability



Financial Secretary to the Treasury to Chairs relating to Motability (dated 28 January)

Lord Sterling to Chairs relating to Motability (dated 24 January)

Lord Sterling to Financial Secretary to the Treasury relating to Motability (dated 24

January)

Secretary of State for Work and Pensions to Chairs relating to Motability (dated 4

February)

Comptroller and Auditor General to Chairs relating to Governance (dated 5 February)

Comptroller and Auditor General to Chairs relating to Tax benefits (dated 5 February)

Chairs to Comptroller and Auditor General relating to Motability review

recommendations (dated 28 January)

Chairs to Comptroller and Auditor General relating to Motability tax relief (dated 28

January)

Chairs to Secretary of State for Work and Pensions relating to Motability (dated January)

Chairs to Financial Secretary to the Treasury relating to Motability (dated 21 January)

3. Correspondence



Leader of the House to Chair relating to Scrutiny of Statutory Instruments (dated 1

February)


Anita Monteith, Technical Lead and Senior Policy Adviser, Tax Faculty, Institute of Chartered

Accountants in England and Wales, Chris Duncan, Managing Director, Times Newspapers Ltd,

Angus McBride, General Counsel, News UK, and Martin McTague, Policy and Advocacy

Chairman, Federation of Small Businesses gave oral evidence.



Members present:


Rushanara Ali Mr Steve Baker Charlie Elphicke

Stewart Hosie John Mann Catherine McKinnell

1. Impact of Business Rates on Business

Resolved, that the Committee invite, pursuant to Standing Order No. 137(A), Members of the

Housing, Communities and Local Government Committee, to attend any meeting relating to the

Impact of Business Rates on Business.


Ordered, That the written evidence relating to Consumers’ access to financial services submitted

by Habito (CAF0078) be reported to the House for publication on the internet.

3. Economic Crime



Payment Systems Regulator to Chair relating to an update on APP Scams (dated 5

February)




Financial Ombudsman Service to Chair relating to quality and case progression (dated 7

February)

5. Correspondence


internet:

Chief Executive of HM Revenue and Customs to Chair relating to Respect at work (dated

6 February)

Economic Secretary to the Treasury to Chair relating to Financial Services EU Exit

legislation for a no-deal scenario (dated 11 February)


Hannah Nixon, Managing Director, Payment Systems Regulator, and Charles Randell, Chairman,

Payment Systems Regulator gave oral evidence.

[Adjourned till Wednesday 13 February at 9.00 a.m.


Members present:


Rushanara Ali Mr Steve Baker Charlie Elphicke


1. Economic Crime

Stephen Jones, Chief Executive, UK Finance, Susan Allen, Head of Retail Business Banking,

Santander UK, and Chris Rhodes, Chief Product and Propositions Officer, Nationwide Building

Society gave oral evidence.



Members present:


Rushanara Ali Colin Clark Mr Simon Clarke

Charlie Elphicke Stewart Hosie Catherine McKinnell


Ordered, That the following written evidence relating to Consumers’ access to financial services


Financial Conduct Authority (CAF0081)

Post Office (CAF0079)

Treasury Committee (London event) (CAF0082)

Treasury Committee (Newcastle event) (CAF0083)

National Pawnbroker’s Association (CAF0080)

Ordered, That the following correspondence relating to Consumers’ access to financial services


Chief Executive of the Financial Conduct Authority to Chair relating to FSCS coverage

of HCSTC lenders (dated 15 February)


Ordered, That the Chair and other Members of the Committee have leave to visit the British

Independent Retailers Association, Birmingham in a representative capacity for the purposes of

the Committee’s inquiry into the Impact of Business Rates on Business.

Ordered, That the following written evidence relating to the Impact of Business Rates on Business


Barney Bear’s Nursery’s Ltd (IBR0003)

Portland Nurseries (IBR0004)

3. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by the National

Pawnbroker’s Association (ECR0086) be reported to the House for publication on the internet.

4. Motability



Motability (I)

Motability (II)



Secretary of State for Work and Pensions to Chair relating to Motability (dated 21

February)



HM Revenue and Customs 2018–19 Supplementary Estimates memorandum

HM Treasury 2018–19 Supplementary Estimates memorandum

6. Sub-Committee

Ordered, That the following correspondence relating to The Conduct of Tax Enquiries and the


Second Permanent Secretary of HM Revenue and Customs to Chair relating to Disguised

Remuneration Loan Charge (dated 24 January)

Chair to Financial Secretary to the Treasury related to Disguised Remuneration Loan

Charge (dated 20 February)

Chair to Second Permanent Secretary to HM Revenue and Customs relating to tax

enquiries and the resolution of tax disputes (dated 20 February)

7. Correspondence


internet:

Chief Executive of the Financial Conduct Authority to Chair relating to mortgage

prisoners (dated 15 February)

Secretary of State for Business Energy and Industrial Strategy to Chair relating to Nissan

(dated 12 February)

Chief Executive of Lloyds to Chair relating to overdraft pricing (dated 18 February)

Chancellor of the Exchequer to Chair relating to Cabinet Office guidance on pre-

appointment hearings (15 February 2019)

Minister for implementation to Chair relating to pre-appointment scrutiny (dated 12

February)

Economic Secretary to the Treasury to Chair relating to mortgage prisoners (dated 30

January)


Ordered, That the following written evidence relating to Bank of England Inflation Reports be


Dave Ramsden Annual report (February 2019) (INF0015)

Gertjan Vlieghe Annual Report (February 2019) (INF0017)

Mark Carney Annual Report (February 2019) (INF0016)

Dr Mark Carney, Governor of the Bank of England, Sir Dave Ramsden, Deputy Governor,

Markets and Banking, Bank of England, Dr Gertjan Vlieghe, Member of the Monetary Policy

Committee, Bank of England, and Professor Jonathan Haskel, External Member, Monetary Policy


[Adjourned till Wednesday 27 February at 9.45 a.m.


Members present:


Mr Steve Baker Charlie Elphicke Stewart Hosie


1. Future Programme

Resolved, That the Committee inquire into the Appointment of Kathryn Cearns as Chair of the

Office of Tax Simplification.

Resolved, That the Committee inquire into the Access to Cash Review.


Rebecca Hilsenrath, Chief Executive, Equality and Human Rights Commission, Andy Goldsby,

Community and Relationship Manager, Equality Advisory Support Service, Christopher

Woolard, Executive Director of Strategy and Competition, Financial Conduct Authority, and

Nisha Arora, Director of Consumer and Retail Policy, Financial Conduct Authority gave oral

evidence.



Members present:


Mr Steve Baker Colin Clark Mr Simon Clarke Charlie Elphicke


1. Future Programme

Resolved, That the Committee inquire into the Spring Statement 2019.

2. Economic Crime

Draft Report (Economic Crime—Anti money laundering supervision and sanctions

implementation), proposed by the Chair, brought up and read.


are published with the Twenty-Eighth Report of the Committee, HC 2010.

Ordered, That the written evidence relating to Economic Crime submitted by Santander





Imagined Things Ltd./Imagined Things Bookshop (IBR0005)

Learn Tuition Centre Limited (IBR0006)


Ordered, That the following written evidence relating to the IT failures in the financial services

sector be reported to the House for publication on the internet:

Barclays (OPR0009)

Centre for Evidence-Based Management (OPR0003)

Cyber Risk Investigation Working Party (Institute and Faculty of Actuaries) (OPR0011)

Equifax (OPR0006)

Financial Conduct Authority, Bank of England and Prudential Regulation Authority

(OPR0012)

ITRS Group (OPR0001)

PwC (OPR0008)

RBS (OPR0004)

TSB Bank (OPR0010)

UK Finance (OPR0005)

Visa (OPR0007)

5. The UK’s Economic Relationship with the European Union

Ordered, That the written evidence relating to the UK’s Economic Relationship with the European

Union submitted by HM Treasury (Supplementary Evidence) (EUN0059) be reported to the

House for publication on the internet.

Ordered, That the following correspondence relating to the UK’s Economic Relationship with the


Deputy Governors of the Bank of England to Chair re Amendments to financial service

legislation (dated 28 February)

Chief Executive of the Financial Conduct Authority to Chair re Brexit policy statement

(dated 1 March)

6. Appointment of Kathryn Cearns as Chair of the Office of Tax Simplification

Ordered, That the following written evidence relating to the Appointment of Kathryn Cearns as

Chair of the Office of Tax Simplification be reported to the House for publication:

Kathryn Cearns CV (OTS0001)

Kathryn Cearns questionnaire (OTS0002)

Kathryn Cearns, Nominated Chair, Office of Tax Simplification gave oral evidence.

Draft Report (Appointment of Kathryn Cearns as Chair of the Office of Tax Simplification),



are published with the Twenty-Seventh Report of the Committee, HC 2012.



The Chair, Rushanara Ali. Charlie Elphicke and Catherine McKinnell visited the Financial

Conduct Authority, London, in connection with the Committee’s inquiry into the work of the

Financial Conduct Authority, in accordance with the Committee’s decision of 31 October 2018.


Members present:


Rushanara Ali Colin Clark Charlie Elphicke Stewart Hosie


1. Future Programme




the Bank of England (INF0018) be reported to the House for publication on the internet.

3. Economic Crime



Minister of State for Security and Economic Crime to Chair relating to Central register of

banks’ relative performance in preventing fraud (dated 5 March)


Ordered, That the following written evidence relating to the impact of Business Rates on Business


Country Land and Business Association Ltd (CLA) (IBR0010)

Lindum Books (IBR0008)

Gregory Moore Property Ltd (IBR0011)


Ordered, That the following correspondence relating to Securing the Tax Base be reported to the


Technical Lead and Senior Policy Adviser at the Institute of Chartered Accountants in

England and Wales to Chair re Making tax Digital (dated 28 February)


Ordered, That the following correspondence relating to the UK’s economic relationship with the


Secretary of State for Exiting the European Union to Chair relating to EU Exit

Negotiations (dated 7 March)

Permanent Secretary to the Treasury to Chair relating to EU Exit Preparations (dated 11

March)


Ordered, That the following correspondence relating to the work of the Payment Systems

Regulator be reported to the House for publication on the internet:

Managing Director of the Payment System Regulator to Chair relating to Evidence

Session (dated 7 March)

Chair of Payment System Regulator to Chair relating to Chairmanship (dated 7 March)

Chair to Managing Director and Chair of Payment System Regulator to Chair relating to

Evidence Session (dated 19 February)

8. Correspondence


internet:

Chief Executive of Grant Thornton UK LLP to Chair relating to the administration of

Wonga (dated 5 March)

9. Access to Cash Review

Natalie Ceeney CBE, Chair, Access to Cash Review, Richard Lloyd, Panel Member, Access to

Cash Review, and Sian Williams, Panel Member, Access to Cash Review gave oral evidence.



Members present:



Stewart Hosie John Mann Alison McGovern Catherine McKinnell Wes Streeting

1. Future Programme


Resolved, That the Committee inquire into the work of the Adjudicator’s Office.

Resolved, That the Committee inquire into the work of the Court of the Bank of England.

Resolved, That the Committee inquire into the work of the Debt Management Office.

Resolved, That the Committee inquire into the Independent Review of the Co-operative bank.

2. Consumers Access to Financial Services

Ordered, That the written evidence relating to Consumers Access to Financial Services submitted

by the Equality Advisory Support Service (supplementary) (IBR0014) be reported to the House

for publication on the internet.




Association of Accounting Technicians (IBR0014)

Gerald Eve LLP (IBR0013)

Jolly Jumpers Play Zone (IBR0015)

National Hairdressers Federation (IBR0012)

Storengy UK (IBR0016)




Chancellor of the Exchequer to Chair relating to tariffs and no-deal Brexit (dated 14

March)

5. Sub-Committee

Ordered, That the written evidence relating to the conduct of tax enquiries and resolution of tax

disputes submitted by HMRC (supplementary) (TRE0198) be reported to the House for


6. Correspondence


internet:

Chief Executive of Affinity trade Union to Chair relating to LBG Overdraft Charges

(dated 11 March)

Chair to the Executive Chairman of Banking Competition Remedies Limited relating to

Metro Bank and the Capability and Innovation Fund Pool A grant process (dated 5 March)

Executive Chairman of Banking Competition Remedies Limited to Chair relating to Metro

Bank and the Capability and Innovation Fund Pool A grant process (dated 11 March)

Executive Chairman of Banking Competition Remedies Limited to Chief Executive of

Metro Bank relating to Metro Bank and the Capability and Innovation Fund Pool A grant

process (dated 4 March)

Chief Executive of Metro Bank to Executive Chairman of Banking Competition Remedies

Limited relating to Metro Bank and the Capability and Innovation Fund Pool A grant

process (dated 8 March)


Robert Chote, Chairman, Office for Budget Responsibility, Sir Charlie Bean, Member, Budget

Responsibility Committee, Office for Budget Responsibility, and Andy King, Member, Budget

Responsibility Committee, Office for Budget Responsibility gave oral evidence.

[Adjourned till Wednesday 20 March at 9.45 a.m.


Members present:


Mr Steve Baker Colin Clark Mr Simon Clarke



Dan York-Smith, Director, Strategy, Planning and Budget, HM Treasury, James Bowler CB,

Director General, Public Spending, HM Treasury, Clare Lombardelli, Director General, Chief

Economic Adviser, HM Treasury, and Philip Duffy, Director, Enterprise and Growth, HM

Treasury gave oral evidence.



Members present:


Mr Simon Clarke Charlie Elphicke Alison McGovern


1. Future Programme


2. Economic Crime



UK Finance (supplementary) (ECR0088)

Nationwide (supplementary) (ECR0089)

City of London Police (supplementary) (ECR0090)

3. Impact of Business Rates on business

Ordered, That the following written evidence relating to the Impact of Business Rates on business


Chartered Surveyor Matthew Griffiths (IBR0017)

Child First Nurseries (IBR0021)

MC SH Cawley Ltd (IBR0020)

Ketts Books (IBR0019)

Talbot Park Nursery (IBR0018)

4. Sub-Committee

Ordered, That the following correspondence relating to the conduct of tax enquiries and resolution

of tax disputes be reported to the House for publication on the internet:

Financial Secretary to the Treasury to Chair relating to HMRC's Loan Charge (undated)

5. Correspondence


internet:

Chair of Financial Conduct Authority to Chair relating to London Capital and Finance

(dated 21 March)

Governor of the Bank of England to Chair relating to Diversity at the Bank of England

(dated 19 March)

Chancellor of the Exchequer to Chair relating to Appointments to the National

Infrastructure Commission (dated 16 March)

Chief Executive of the Financial Ombudsman Service to Chair relating to vulnerable

customers (dated 18 March)

Chair to the Chief Executive of the Financial Ombudsman Service relating to vulnerable

customers (dated 4 March)

6. The work of the Adjudicator’s Office

Ordered, That the following written evidence relating to the work of the Adjudicator’s Office be


Adjudicator’s Office (WAO0001)

HM Revenue and Customs (WAO0002)

Helen Megarry, Adjudicator, Adjudicator's Office, and Jane Brothwood, Head of Office,

Adjudicator’s Office gave oral evidence.



Members present:


Rushanara Ali Mr Steve Baker Colin Clark Mr Simon Clarke

Charlie Elphicke Catherine McKinnell Wes Streeting

1. Future Programme



Ordered, That in this Parliament, where the Committee receives evidence or sends or receives

correspondence which, in the Chair's judgement, merits publication by the Committee before it

will meet again, the Chair shall have discretion to report it to the House for publication on the

Internet.

3. Impact of Business Rates on business

Ordered, That the following written evidence relating to the Impact of Business Rates on business


ACM Projects Ltd (IBR0024)

Blake Penfold (IBR0027)

British Beer and Pub Association (IBR0028)

Energy and Utilities Alliance (IBR0029)

Lawnswood Childcare Ltd (IBR0031)

National Federation of Retail Newsagents (IBR0026)

Puffins of Exeter Ltd (IBR0022)

River Island Clothing Company (IBR0032)

St Clements Nursery (IBR0025)

4. Correspondence


internet:

Economic Secretary to Chair relating to Co-Operative Bank (dated 27 March)

Economic Secretary to the Treasury to Chair relating to London Capital and Finance

(dated 26 March)

Economic Secretary to the Treasury to the Chair of the Financial Conduct Authority

relating to the failure of London Capital and finance (dated 1 April)

Chair of the Financial Conduct Authority to Chair relating to the failure of London Capital

and Finance (dated 1 April)



National Savings and Investments 2018–19 Supplementary Estimates memorandum

Government Actuary’s Department 2018–19 Supplementary Estimates memorandum

6. Economic Crime

Mark Tingey, Head of Financial Crime Operations, Metro Bank; Ruth Evans, Independent Chair,

Authorised Push Payments Scams Steering Group, and Richard Lloyd, Advisor, Authorised Push

Payments Scams Steering Group gave oral evidence.

[Adjourned till Wednesday 3 April at 9.15 a.m.


Members present:


Charlie Elphicke John Mann Alison McGovern


1. Future Programme


2. Budget 2018

Draft Special Report (Budget 2018), proposed by the Chair, brought up and read the first and

second time, and agreed to.

The Government response to the Twenty-Sixth Report from the Committee of Session 2017–19


Resolved, That the Report be the Tenth Special Report of the Committee to the House.





Torsten Bell, Director, Resolution Foundation, Paul Johnson, Director, Institute for Fiscal Studies,

Gemma Tetlow, Chief Economist, Institute for Government, and Martin Wheatley, Senior Fellow,

Institute for Government gave oral evidence.



Members present:


Rushanara Ali Mr Steve Baker Colin Clark Charlie Elphicke Stewart Hosie



Ordered, That the written evidence relating to Consumers' access to financial services submitted

by the Financial Conduct Authority (CAF0087) be reported to the House for publication on the

internet.

2. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by Lyddon Consulting

Services Ltd (ECR0091) be reported to the House for publication on the internet.




Accessible Retail (IBR0038)

All Party Parliamentary Group on Land Value Capture (IBR0034)

Association of Convenience Stores (IBR0064)

Bacta (IBR0039)

Barrels Public House Hereford (IBR0036)

BNP Paribas Real Estate (IBR0061)

Breckland Council (IBR0058)

British Institute of Innkeeping (IBR0056)

British Retail Consortium (IBR0057)

British Takeaway Campaign (IBR0059)

Camden Town Unlimited (IBR0070)

Camden Town Unlimited Euston Town Capital Enterprise ATCM and WorkWILD

(IBR0071)

Centre for Cities (IBR0067)

Colliers International (IBR0073)

Early Years Alliance (IBR0081)

Federation of Small Businesses (IBR0042)

GL Hearn Limited (IBR0062)

Historic Houses (IBR0060)

Institute of Directors (IBR0040)

intu properties plc (IBR0035)

Julian Lyon (IBR0066)

Lichfield District Council (IBR0046)

Local Government Association (IBR0054)

London First (IBR0044)

Love Wimbledon BID Ltd (IBR0037)

McCartans Ltd (IBR0065)

Mr Paul Crossman (IBR0049)

National Farmers Union (IBR0074)

North East Lincolnshire Council (IBR0052)

Powis Hughes Ltd (IBR0055)

Pubs Advisory Service Ltd (IBR0107)

R3IntelligenceNorthumbria University (IBR0103)

Rating Surveyors Association (IBR0047)

Revo (IBR0096)

Royal Society for Public Health (IBR0053)

Shop Direct (IBR0072)

The Booksellers Association (IBR0068)

The Chartered Institute of Taxation CIOT (IBR0050)

The Clubhouse London Limited (IBR0063)

The Entrepreneurs Network (IBR0051)

The Heritage Alliance (IBR0097)

The National Trust (IBR0048)

UK CINEMA ASSOCIATION (IBR0086)

UK Music (IBR0041)

Woodhaven Trust (IBR0043)

4. Correspondence


internet:

First Permanent Secretary and Chief Executive of HM Revenue and Customs to the Chair

relating to Supplementary Estimates (dated 11 April)

Chancellor of the Exchequer to Chair relating to the Re-appointments at the Bank of

England (dated 12 April)

Chair to the Tax Assurance Commissioner and Deputy Chief Executive and Second

Permanent Secretary of HM Revenue and Customs relating to the Adjudicator's office

(dated 1 April)

Tax Assurance Commissioner and Deputy Chief Executive and Second Permanent

Secretary of HM revenue and Customs to the Chair relating to the Adjudicator's office

(dated 16 April)

Chancellor of the Exchequer to the Chair relating to the Governor of the Bank of England

appointment process (dated 24 April)


Rt Hon Philip Hammond MP, Chancellor of the Exchequer, HM Treasury, Dan York-Smith,

Director, Strategy, Planning and Budget, HM Treasury, and Conrad Smewing, Director, Public

Spending, HM Treasury gave oral evidence.



Members present:




1. Committee Office Standards of Service





Altus Group (IBR0094)

Association of Town and City Management in partnership with The BID Foundation

(IBR0105)

BIRA (IBR0106)

Brighton Hove Licensees Association (IBR0119)

British BIDs (IBR0093)

British Chambers of Commerce (IBR0099)

British Property Federation (IBR0088)

Broadland District South Norfolk Councils (IBR0114)

Campaign for Real Ale (IBR0102)

CBI (IBR0100)

CBRE Limited (IBR0076)

District Councils Network (IBR0090)

Enterprise Nation (IBR0098)

Groupe PSa (IBR0078)

Hewson Books Ltd (IBR0095)

ICAEW (IBR0080)

Institute for Fiscal Studies (IBR0115)

Institute of Revenues Rating and Valuation (IBR0109)

Internet Services Providers Association (IBR0122)

London Councils (IBR0108)

Mr Paul Barette (IBR0111)

National Day Nurseries Association NDNA (IBR0112)

New West End Company (IBR0079)

Newcastle City Council (IBR0110)

North Norfolk District Council (IBR0089)

Petrol Retailers Association Car Wash Association (IBR0116)

Royal Institution of Chartered Surveyors (IBR0075)

Surrey County Council (IBR0092)

Tesco (IBR0087)

The Alligators Mouth (IBR0091)

The Bath Pub Company Ltd (IBR0117)

The Company Chemists Association Ltd (IBR0083)

The John Lewis Partnership (IBR0101)

UKHospitality (IBR0077)

UnibailRodamcoWestfield (IBR0085)

University of Bedfordshire (IBR0084)

Virgin Media Limited (IBR0113)


Ordered, That the following written evidence relating to consumers’ access to financial services


LINK (CAF0088)

Office of the Public Guardian (CAF0089)

4. Independent Review of the Co-operative bank

Mark Zelmer, Author, Independent Review of Co-operative Bank Supervision gave oral evidence.



Members present:


Wes Streeting Charlie Elphicke

In the absence of the Chair, Wes Streeting was called to the chair.

1. The work of the Court of the Bank of England

Bradley Fried, Chair of Court of the Bank of England, Dorothy Thompson, Chair of the Audit &

Risk Committee, and Diana Mary Hardy, Chair of the Remuneration Committee, Court of

Directors, Bank of England gave oral evidence.

[Adjourned till Tuesday 1 May at 1.00 p.m.

Tuesday 7 May 2019

Members present:


Rushanara Ali Mr Steve Baker Mr Simon Clarke

Charlie Elphicke Catherine McKinnell Wes Streeting

The following members of the Housing, Communities and Local Government Committee were also present (Standing Order No. 137A).

Mr Clive Betts Kevin Hollinrake

1. Evidence reported to the House for publication on 2 May (Order of the Committee, 2 April)


internet:

Chair to Chancellor of the Exchequer relating to Access to Cash (dated 13 March)

Chancellor of the Exchequer to Chair relating to Access to Cash (dated 2 May)

Ordered, That the written evidence relating to Economic Crime submitted by Metro Bank


2. Economic Crime

Draft Special Report (Economic Crime: Anti-money laundering supervision and sanctions

implementation), proposed by the Chair, brought up and read the first and second time, and agreed

to.

The Government response to the Twenty-Eighth Report from the Committee of Session 2017–19


Resolved, That the Report be the Eleventh Special Report of the Committee to the House.




Ordered, That the written evidence relating to Economic Crime submitted by Metro Bank





Boots Wallgreen Alliance (IBR0120)

Kingston University (IBR0126)

NoteMachine Group (IBR0127)

Paul Crossman (supplementary) (IBR0125)

Save UK Pubs (IBR0118 addendum)

Save UK Pubs (IBR0118)

The Society of Motor Manufacturers and Traders Limited (IBR0124)

Vtesse Harlow Limited (IBR0082)

Make UK (IBR0128)

4. Correspondence


internet:

Chair to the Chancellor of the Exchequer relating to the Secretariat of the Loan Charge

APPG (dated 2 May)


John Boulton, Technical Strategy Department Manager, Institute of Chartered Accountants in

England and Wales, and Tom Emlyn Jones, President, Rating Surveyors Association; Neil Leitch,

Chief Executive, Early Years Alliance, Paul Crossman, Multiple pub operator, Kate Nicholls,

Chief Executive, UK Hospitality, and Mandy McNeil, Vice Chair, Save UK Pubs gave oral

evidence.



Members present:



John Mann Alison McGovern Wes Streeting


Draft Report (Consumers’ access to financial services), proposed by the Chair, brought up and

read.


are published with the Twenty-Ninth Report of the Committee, HC 1642.

2. The work of the Debt Management Office

Sir Robert Stheeman, Chief Executive, Debt Management Office, Jo Whelan, Deputy Chief

Executive and Co-Head of Policy and Markets, Debt Management Office, and Jim Juffs, Chief

Operating Officer, Debt Management Office gave oral evidence.


Tuesday 14 May 2019

Members present:




1. Future programme


Resolved, That the Committee inquire into Decarbonising the UK economy.

Resolved, That the Committee inquire into Regional Development.

Resolved, That the Committee inquire into the Appointment of Dame Colette Bowe to the

Financial Policy Committee.

Resolved, That the Committee inquire into the Re-appointment of Michael Saunders to the

Monetary Policy Committee.

Resolved, That the Committee inquire into the Re-appointment of Professor Anil Kashyap to the

Financial Policy Committee.

Resolved, That the Committee inquire into the UK’s economic relationship with China.

Resolved, That the Committee inquire into the Work of the Financial Services Compensation

Scheme.

2. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by TSB Bank



Ordered, That the written evidence relating to the Spring Statement 2019 submitted by HM

Treasury (SPS0001) be reported to the House for publication on the internet.

4. Estimates memoranda


Government Actuary Department 2019–20 Main Estimates Memorandum

HM Treasury 2019–20 Main Estimates Memorandum and Tables

NS&I 2019–20 Main Estimates Memorandum 2019–20

5. Correspondence


internet:

Secretary of State for Business, Energy and Industrial Strategy to Chair relating to British

Steel (dated 1 May)

6. Infrastructure Development in the UK

Sir John Armitt, Chair, Phil Graham, Chief Executive, National Infrastructure Commission,

Matthew Vickerstaff, Interim Chief Executive, and Stephen Dance, Head of Infrastructure

Delivery, Infrastructure and Projects Authority gave oral evidence.

[Adjourned till Wednesday 15 May at 9.45 a.m.

Tuesday 15 May 2019

Members present:




1. Economic Crime

Megan Butler, Executive Director, Investment, Wholesale and Specialists Division, Chris

Hemsley, Co-Managing Director, Payment Systems Regulator, and Mark Steward, Executive

Director of Enforcement and Market Oversight, FCA gave oral evidence.

[Adjourned till Wednesday 22 May at 9.15 a.m.

Monday 20 May 2019

The Chair, Mr Steve Baker and Alison McGovern visited the British Independent Retailers

Association, Birmingham, in connection with the Committee’s inquiry into the Impact of Business

Rates on Business, in accordance with the Committee’s decision of 26 February.


Members present:



Charlie Elphicke Stewart Hosie Alison McGovern



Ben Broadbent (INF0019) be reported to the House for publication on the internet.


Ordered, That the following written evidence relating to consumers' access to financial services


Brain Tumour Research (CAF0086)

Trussle (CAF0084)

3. Correspondence


internet:

Permanent Secretary to HM Treasury to Chair relating to Supplementary Estimates (dated

9 May)


Meryl Halls, Managing Director, Booksellers Association, Chris Harris, Group Property &

Development Director, John Lewis Partnership, and Sebastian James, Chief Executive, Boots UK;

Catherine Gras, Spokesperson for Gas Storage Operators Group and Chief Executive, Storengy

UK, Adam Blaskey, Founder, The Clubhouse, Seamus Nevin, Chief Economist, Make UK, and

Eleanor Griggs, Land Management Adviser, National Farmers Union gave oral evidence.

[Adjourned till Tuesday 4 June at 1.30 p.m.

Tuesday 4 June 2019

Members present:


Colin Clark Stewart Hosie Alison McGovern




1. Future Programme


Resolved, That the Committee inquire into the re-appointment of Ben Broadbent as Deputy

Governor for Monetary Policy at the Bank of England.

Resolved, That the Committee inquire into the effectiveness of Gender Pay Gap Reporting.


Ordered, That the written evidence relating to Consumers' access to financial services submitted

by the Consumer Credit Association (CAF0090) be reported to the House for publication on the

internet.


Ordered, That the written evidence relating to Spring Statement 2019 submitted by the Local

Government Association (SPS0002) be reported to the House for publication on the internet.

4. Decarbonisation and Green Finance—the economic opportunity

Ordered, That the following correspondence relating to decarbonisation and Green Finance - the

economic opportunity be reported to the House for publication on the internet:

Chair to the Economic Secretary to the Treasury relating to Decarbonisation and Green

Finance (dated 5 June)

5. Correspondence


internet:

Letter from Chair to Financial Ombudsman Service related to Mortgage Prisoners (dated

29 April)

Letter to the Chair from the Financial Ombudsman Service related to Mortgage Prisoners

(dated 17 May)




Independent British Vape Trade Association (IBR0130)

Openreach (IBR0129)

Tesco—Supplementary (IBR0131)

John Lewis Partnership (IBR0133)

British Beer and Pubs Association (IBR0132)

Ordered, That the following correspondence relating the Impact of Business Rates on Business to


Chair to the Chief Executive of the Valuation Office Agency relating to Business Rates

(dated 29 May)

Andy Street CBE, Mayor, West Midlands Combined Authority, Cllr Richard Watts, Islington

Council Leader, Local Government Association, Prof. Chris Turner, CEO, British BIDs, and Ojay

McDonald, CEO, Association of Town and City Management gave oral evidence.

[Adjourned till Wednesday 5 June at 9.15 a.m.


Members present:



Alison McGovern Catherine McKinnell

1. The effectiveness of Gender Pay Gap Reporting

Nigel Marriott, Independent Statistician, Marriott Statistical Consulting, and Sarah Gordon,

former business editor, Financial Times; Hilary Spencer, Director, Government Equalities Office,

and Elysia McCaffrey, Deputy Director - Gender Policy and Operations Division, Government

Equalities Office gave oral evidence.



Members present:




1. Evidence reported to the House for publication on 10 June (Order of the Committee, 2 April)


internet:

Chair to the Chief Executive of the Financial Conduct Authority relating to LF Woodford

Equity Income Fund (dated 10 June)

2. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by Barclays


3. Infrastructure Development in the UK

Ordered, That the written evidence relating to Infrastructure Development in the UK submitted

by the Infrastructure and Projects Authority (NIC0001) be reported to the House for publication

on the internet.

4. Correspondence


internet:

Chair to the Chief Executive of Hargreaves Lansdown, relating to the Woodford Equity

Income Fund (dated 11 June)

5. Re-appointment of Michael Saunders to the Monetary Policy Committee

Ordered, That the following written evidence relating to the re-appointment of Michael Saunders

to the Monetary Policy Committee be reported to the House for publication:

Michael Saunders CV (AMS0002)

Michael Saunders questionnaire (AMS0001)

Michael Saunders, Member of the Monetary Policy Committee, Bank of England gave oral

evidence.

Draft Report (The re-appointment of Michael Saunders to the Monetary Policy Committee of the

Bank of England), proposed by the Chair, brought up and read.


are published with the Thirtieth Report of the Committee, HC 2236.

6. Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy at the Bank of

England

Ordered, That the following written evidence relating to the re-appointment of Ben Broadbent as

Deputy Governor for Monetary Policy at the Bank of England be reported to the House for

publication:

Ben Broadbent CV (RBB0002)

Ben Broadbent questionnaire (RBB0001)

Ordered, That the following correspondence relating to the re-appointment of Ben Broadbent as

Deputy Governor for Monetary Policy at the Bank of England be reported to the House for


Chancellor of the Exchequer to the Chair relating to the Bank of England Appointments

(dated 31 May)

Ben Broadbent, Deputy Governor for Monetary Policy, Bank of England gave oral evidence.

Draft Report (The re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy at

the Bank of England), proposed by the Chair, brought up and read.


are published with the Thirty-First Report of the Committee, HC 2294.



Members present:


Colin Clark Mr Simon Clarke Charlie Elphicke

John Mann Catherine McKinnell Alison Thewliss


Alison Thewliss declared her interests, in accordance with the Resolution of the House of 13 July

1992 (for details of declarations of interests, see Appendix I).

2. Women in Finance

Kate Grussing, Founder and Managing Director, Sapphire Partners, Corinne Carr, Independent

Remuneration Consultant, PeopleNet, Joanna Place, Chief Operating Officer, Bank of England,

Angela Darlington, Interim Chief Executive of UK Life, Tracey Newton, Director of People

Performance, Yorkshire Building Society, Terry Mellish, Senior Advisor of Institutional Sales,

Government Relations, Diversity & Inclusion, Natixis Investment Management, Megan Butler,

Executive Director of Supervision (Investment, Wholesale and Specialists Division), FCA, and

Elaine Arden, Group Chief Human Resources Officer, HSBC gave oral evidence.



Members present:



John Mann Alison McGovern Catherine McKinnell Wes Streeting Alison Thewliss




Local Government Association—Supplementary (IBR0136)

Treasury Committee (IBR0135)

Michael Saunders Supplementary (AMS0003)

2. Correspondence


internet:

Chief Executive Officer (Servicing Division) of Pepper Group to the Chair relating to

Mortgage Prisoners (dated 6 June)

Chair to the Director of Tulip Mortgages relating to Mortgage Prisoners (dated 22 May)

Chair to the Chief Executive of Engage Credit relating to Mortgage Prisoners (dated 22

May)

Director of Tulip Mortgages Limited to the Chair relating to Mortgage Prisoners (dated 7

June)

3. Appointment of Dame Colette Bowe to the Financial Policy Committee

Ordered, That the following written evidence relating to the appointment of Dame Colette Bowe

to the Financial Policy Committee be reported to the House for publication:

Dame Colette Bowe CV (DCB0001)

Dame Colette Bowe questionnaire (DCB0002)

Dame Colette Bowe, Appointed external member of the Financial Policy Committee, Bank of

England gave oral evidence.

Draft Report (The appointment of Dame Colette Bowe to the Financial Policy Committee),



are published with the Thirty-Second Report of the Committee, HC 2235.

4. Re-appointment of Professor Anil Kashyap to the Financial Policy Committee

Ordered, That the following written evidence relating to the re-appointment of Professor Anil

Kashyap to the Financial Policy Committee be reported to the House for publication:

Professor Anil Kashyap CV (RAK0001)

Professor Anil Kashyap questionnaire (RAK0002)

Professor Anil Kashyap, External member of the Financial Policy Committee, Bank of England

gave oral evidence.

Draft Report (The re-appointment of Professor Anil Kashyap to the Financial Policy Committee),



are published with the Thirty-Third Report of the Committee, HC 2237.



Members present:


Rushanara Ali Mr Steve Baker Mr Simon Clarke Charlie Elphicke

Alison McGovern Catherine McKinnell Alison Thewliss


Kevin Hollinrake


Draft Special Report (Consumers’ Access to Financial Services: Financial Conduct Authority

response to the Committee’s Twenty-Ninth Report), proposed by the Chair, brought up and read


The Financial Conduct Authority’s response to the Twenty-Ninth Report from the Committee of


Resolved, That the Report be the Twelfth Special Report of the Committee to the House.





Jerry Schurder, Head of Business Rates, Gerald Eve LLP, Rachel Kelly, Senior Policy Officer,

British Property Federation, Kevin Muldoon-Smith, Lecturer, Northumbria University, Tej

Parikh, Chief Economist, Institute of Directors, and Steve Rigby, Group Property Director, Tesco

gave oral evidence.



Members present:


Rushanara Ali Mr Steve Baker Mr Simon Clarke Charlie Elphicke

Alison McGovern Catherine McKinnell Wes Streeting Alison Thewliss


Mr Steve Baker amended his declaration of interests of 4 December 2018 (for details of

declarations of interests, see Appendix I).

Mr Simon Clarke amended his declaration of interests of 21 February 8 (for details of declarations





British Property Federation—Supplementary (IBR0134)

Rating Surveyors’ Association—Supplementary (IBR0137)

3. Estimates memoranda


HM Revenue and Customs 2019–20 Main Estimates Memorandum

4. Correspondence


internet:

Chair of the Financial Conduct Authority to the Chair relating to independent reviews of

IRHP and Connaught (dated 14 June)

Chief Executive of the Association of Investment Companies to the Chair relating to

Woodford Equity Income Fund (dated 14 June)

Minister for Local Government to the Chair relating to non-domestic rating (dated 17

June)

Chief Executive and Permanent Secretary of HMRC to the Chair relating to MTD service

levels (dated 18 June)

Chief Executive of the Financial Conduct Authority to the Chair relating to Link Fund

Solutions (dated 21 June)

Group Chief Executive of Lloyds Banking Group to the Chair relating to HBOS Reading

(dated 21 June)


Andrew Bailey, Chief Executive, Financial Conduct Authority, and Charles Randell, Chairman,

Financial Conduct Authority gave oral evidence.



Members present:





Mr Steve Baker amended his declaration of interests of 4 December 2018 (for details of

declarations of interests, see Appendix I).


Dr Mark Carney, Governor of the Bank of England, Sir Jon Cunliffe, Deputy Governor for

Financial Stability, Bank of England, Silvana Tenreyro, Member of the Monetary Policy

Committee, and Michael Saunders, Member of the Monetary Policy Committee, Bank of England

gave oral evidence.


Tuesday 2 July 2019

Members present:





Ordered, That the written evidence relating to the impact of Business Rates on Business submitted

by Boots (Supplementary) (IBR0138) be reported to the House for publication on the internet.

Ordered, That the following correspondence relating to the impact of Business Rates on Business


Chief Executive of the Valuation Office Agency to Chair relating to Business Rates (dated

21 June)

2. Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of

England

Ordered, That the written evidence relating to the re-appointment of Ben Broadbent as Deputy

Governor for Monetary Policy, Bank of England submitted by Ben Broadbent (Supplementary)

(RBB0003) be reported to the House for publication on the internet.


Ordered, That the following correspondence relating to securing the tax base be reported to the


Chief Executive and Permanent Secretary of HMRC to Chair relating to the Tax Gap

(dated 20 June)


Ordered, That the following correspondence relating to decarbonisation and Green Finance—the


Exchequer Secretary to the Treasury to Chair relating to Decarbonisation of the Economy

and Green Finance (dated 30 June)

Chris Stark, Chief Executive, Committee on Climate Change, Nick Robins, Sustainable Finance

Professor, London School of Economics, and Sagarika Chatterjee, Director of Climate Change,

Principles for Responsible Investment gave oral evidence.

[Adjourned till Wednesday 3 July at 9.15 a.m.


Members present:


Rushanara Ali Colin Clark Mr Simon Clarke

Charlie Elphicke John Mann Alison Thewliss

1. Future Programme


2. Work of the Financial Services Compensation Scheme

Caroline Rainbird, Chief Executive Officer, and Jimmy Barber, Chief Operating Officer,

Financial Services Compensation Scheme gave oral evidence.


Thursday 5 July 2019

The Chair and Mr Steve Baker visited the Isle of Man, in connection with the Committee’s inquiry

into Economic Crime and the Sub-Committee’s inquiry into tax avoidance and evasion, in a

representative capacity, in accordance with the Committee’s decision of 5 September 2018.

Tuesday 9 July 2019

Members present:



Alison McGovern Wes Streeting Alison Thewliss


Draft Special Report (Consumers’ Access to Financial Services: Government response to the

Committee’s Twenty-Ninth Report), proposed by the Chair, brought up and read the first and

second time, and agreed to.

The Government response to the Twenty-Ninth Report from the Committee of Session 2017–19


Resolved, That the Report be the Thirteenth Special Report of the Committee to the House.




2. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by APP Scams Steering

Group (ECR0095) be reported to the House for publication on the internet.

3. Motability

Ordered, That the written evidence relating to Motability submitted by Motability be redacted and

reported to the House for publication on the internet.


Ordered, That the following correspondence relating to decarbonisation and Green Finance—the


Exchequer Secretary to the Treasury to Chair relating to Decarbonisation of the Economy

(dated 3 June)


Ordered, That the following correspondence relating to the work of the Financial Conduct


Chair to Chief Executive of the Financial Conduct Authority relating to signatory fraud

(dated 8 July)

6. Economic Crime



Chair to Chief Executive of the National Crime Agency relating to signatory fraud (dated

8 July)

7. Correspondence


internet:

Chair to Permanent Secretary and Chief Executive of HM Revenue and Customs relating

to Making Tax Digital (dated 4 June)

Chancellor of the Exchequer to the Chairman of the Economic Affairs Committee of the

House of Lords relating to Retail Price Index (dated 27 June)

Chief Executive of Interactive Investor to Chair relating to Woodford Equity Income Fund

(dated 2 July)

8. Sub-Committee

Ordered, That the following correspondence relating to the work of the Financial Ombudsman

Service be reported to the House for publication on the internet:

Chief Ombudsman and Chief Executive of the Financial Ombudsman Service to Chair re

Future funding (dated 2 July)


Simon Chard, Financial Services Partner, PwC, Sarah Isted, Financial Services Risk and

Regulation, PwC, and Marcus Scott, Chief Operating Officer, TheCityUK gave oral evidence.



Members present:







Ordered, That the written evidence relating to the impact of Business Rates on Business submitted

by Altus Group (IBR0139) be reported to the House for publication on the internet.

Melissa Tatton, Chief Executive Officer, Valuation Office Agency, and Alan Colston, Chief

Valuer, Valuation Office Agency; Jesse Norman, Financial Secretary to the Treasury, HM

Treasury, Rishi Sunak, Minister for Local Government, Ministry of Housing, Communities and

Local Government, and Mike Williams, Director Business and International Tax, HM Treasury

gave oral evidence.



Members present:


Rushanara Ali Mr Steve Baker

Colin Clark Charlie Elphicke


Draft Special Report (Consumers’ Access to Financial Services: Payment Systems Regulator and

Bank of England responses to the Committee’s Twenty-Ninth Report), proposed by the Chair,


The Payment Systems Regulator and Bank of England responses to the Twenty-Ninth Report

from the Committee of Session 2017–19 were appended to the Report.

Resolved, That the Report be the Fourteenth Special Report of the Committee to the House.




2. Correspondence


internet:

Chair to Chief Executive of the FCA relating to the regulation of funeral plans (dated 2

July)

International Stock Exchange to Chair relating to the Woodford Equity Income Fund

(updated 4 July)

Chief Executive of the FCA to Chair relating to the Bank Signature Forgery Campaign

(dated 11 July)



4. Sub-Committee

Ordered, That John Mann have leave to visit the Crown Estate Windsor, in a representative

capacity for the purposes of the Sub-Committee’s inquiry into the work of the Crown Estate.



Members present:



Charlie Elphicke John Mann Wes Streeting Alison Thewliss

1. Citizens’ Assembly on climate change





Chair to the Permanent Secretary of HM Treasury relating to the Committee’s request for

an update to economic analysis (dated 17 July)

Chair to the Governor of the Bank of England relating to the Committee’s request for an

update to economic analysis (dated 17 July)


Graham Bastin, Head of Operational Resilience, Barclays, Ian Lundberg, Chief Officer Head of

Client Services, Visa, and Anne Boden, CEO, Starling Bank gave oral evidence.



Members present:


John Mann

Alison Thewliss

1. Tax enquiries and resolution of tax disputes

Draft Report (Disputing tax), proposed by the Chair, brought up and read.


are published with the Thirty-Fourth Report of the Committee, HC 1914.



Members present:


Rushanara Ali Mr Steve Baker Mr Simon Clarke John Mann

Alison McGovern Wes Streeting Alison Thewliss

1. Future of the UK’s financial services



Draft Report (The work of the Financial Conduct Authority: the perimeter of regulation),



are published with the Thirty-Fifth Report of the Committee, HC 2594.




Countryside Alliance (IBR0140)

Enterprise Inns (IBR0144)

The Booksellers association (IBR0142)

HM Treasury (IBRXYZ)

4. The work of the Financial Services Compensation Scheme

Ordered, That the written evidence relating to the work of the Financial Services Compensation

Scheme submitted by FSCS (FSC0001) be reported to the House for publication on the internet.

5. Motability



Minister for Disabled People to Chairs relating to Motability (dated 23 July)

6. Correspondence


internet:

Chair to Exchequer Secretary relating to Electric Charge Points (dated 16 July)

Chair to Permanent Secretary HM Treasury relating to Estimates (dated 21 June)

Chair to Permanent Secretary HM Treasury relating to Spending Review (dated 8 July)

Chair to Permanent Secretary HMRC relating to Estimates (dated 21 June)

Chancellor of the Exchequer to Chair relating to the government’s approach to publishing

performance date (19 July)

Chief Executive Association of Investment Companies to Chair relating to Woodford

Update (dated 09 July)

Director General of the National Crime Agency to Chair relating to Bank Signature Fraud

(dated 17 July)


Alison Barker, Director of Specialist Supervision, Financial Conduct Authority, Lyndon Nelson,

Deputy CEO and Executive Director, Regulatory Operations and Supervisory Risks Specialists,

Prudential Regulation Authority, and David Bailey, Executive Director Financial Market

Infrastructure, Bank of England gave oral evidence.


Alison Barker, Director of Specialist Supervision, Financial Conduct Authority, Lyndon Nelson,

Deputy CEO and Executive Director, Regulatory Operations and Supervisory Risks Specialists,

Prudential Regulation Authority, and David Bailey, Executive Director Financial Market

Infrastructure, Bank of England gave oral evidence.

[Adjourned till Tuesday 3 September at 1.30 p.m.

Tuesday 3 September 2019 

Members present: 

Rushanara Ali 

Mr Steve Baker 

John Mann 

  Catherine McKinnell

Alison Thewliss 

 

1. Choice of interim Chair 

 

Resolved, That John Mann take the Chair for this meeting and for any meetings subsequent to

Nicky Morgan stepping down as Chair of the Committee prior to the election of the new

Chair.—(Mr Steve Baker)

2. Future programme 

 

The Committee considered the matter.

Resolved, That the planned oral evidence sessions on this day, Tuesday 10 September, and

Wednesday 11 September be cancelled.

Resolved, That the Chancellor of the Exchequer and the Office of Budgetary Responsibility be

invited to attend the Committee.

 

3. Correspondence 

 

Ordered, That the following correspondence be reported to the House for publication on the

internet: 

 

Andrew Bailey to Catherine McKinnell relating to vulnerable customers (dated 25

July)

Andrew Bailey to Gosia McBride related to Regulation of Funeral Plans (dated 26

July)

Chief Executive Financial Conduct Authority to Chair related to private polling (dated

18 July)

Chris Cummings, the Investment Association, to Chair related to Suitability of Holding

Illiquid Assets (dated 5 August)

Director of Financial Conduct Authority to Clerk related to IT failures in the financial

services sector (dated 13 August)

HMRC to the Chair relating to the Main Estimate (dated 19 July)

Linda Horne WMCA to Chair related to Committee hearing on 4th June 2019 (dated

22 July)

Philip Hammond to Chair related to Government approach to publishing performance

data (dated 19 July)

Sajid Javid to Sir Jonathan Thompson related to HMRC no deal preparations (dated 1

August)

Sajid Javid to Chair related to Dame Jayne-Anne Gadhia (dated 5 August)

Sajid Javid to Chair related to Spending Round 2019 (dated 27 August)

Sajid Javid to Sir Jonathan Thompson related to remit of HMRC (dated 9 August)

Steve Rigby to Chair related to Impact of Business Rates on Business (dated 28 June)

Tom Scholar to Chair related to Spending Review (dated 8 August) 

Page Break

7. Bank of England inflation reports 

 

Ordered, That the following written evidence relating to Bank of England inflation reports be

reported to the House for publication:

Andy Haldane Annual Report

Jonathan Haskel Annual Report

7. Decarbonisation and Green Finance—the economic opportunity

Ordered, That the following written evidence relating to Decarbonisation and Green Finance—

the economic opportunity be reported to the House for publication:

Aberdeen Standard Investments (DUE0041)

ADS Group (DUE0021)

Airlines UK (DUE0051)

Aldersgate Group (DUE0018)

Anaerobic Digestion and Bioresources Association (DUE0014)

Anglian Water Services (DUE0038)

Anglo American (DUE0077)

Association for Decentralised Energy (DUE0033)

Association of British Insurers (DUE0070)

Aviva plc (DUE0048)

Bank of England (DUE0093)

Barclays (DUE0045)

Biofuelwatch (DUE0091)

Bournemouth University (DUE0005)

Building Societies Association (DUE0084)

BYD UK Co Ltd (DUE0032)

Cadent (DUE0022)

Carbon Tracker Initiative (DUE0008)

CDP (DUE0086)

Centre for Energy Policy, University of Strathclyde (DUE0007)

ChargePoint (DUE0088)

Chemical Industries Association (DUE0043)

Christian Aid (DUE0031)

CIMA (DUE0098)

City of London Corporation (DUE0063)

ClientEarth (DUE0036)

Community Energy England (DUE0059)

Cyan Finance (DUE0054)

DNV GL (DUE0053)

Drax Group plc (DUE0050)

E.ON (DUE0055)

E3G (DUE0101)

Eaton (DUE0026)

EDF Energy (DUE0075)

Electricity North West Limited (DUE0024)

Energy and Utilities Alliance (DUE0049)

Energy Efficiency Infrastructure Group (DUE0083)

Energy Networks Association (DUE0066)

Energy UK (DUE0028)

Extinction Rebellion Oxford (DUE0030)

Finance & Leasing Association (DUE0108)

Financial Conduct Authority (DUE0099)

Glennmont Partners (DUE0016)

Global Witness (DUE0019)

Global Witness (DUE0064)

Grantham Research Institute on Climate Change and the Environment, London School

of Economics (DUE0076)

Greater London Authority (DUE0109)

Green Alliance (DUE0039)

Greenpeace, Friends of the Earth, RSPB (DUE0027)

Highview Power (DUE0069)

HSBC Holdings (DUE0079)

Hugo Dunn (DUE0087)

ICAEW (DUE0065)

Institute and Faculty of Actuaries (DUE0029)

Institute for Strategy, Resilience & Security, University College London (DUE0040)

IREGG (DUE0042)

ISS ESG (DUE0009)

Kingspan Insulation Ltd (DUE0025)

Liquid Gas UK (DUE0056)

Lloyd’s (DUE0103)

Loan Market Association (DUE0037)

London Stock Exchange Group (DUE0058)

Low Carbon (DUE0104)

Mineral Products Association (DUE0046)

Mirova, an affiliate of Natixis Investment Managers (DUE0102)

Mirova/Natixis Investment Managers (DUE0106)

Mr Daniel Scharf (DUE0003)

Ms Jill Haas (DUE0006)

National Energy Action (DUE0035)

National Grid (DUE0100)

ODI (DUE0080)

Oil & Gas UK (DUE0034)

Oil Change International (DUE0061)

Orsted (DUE0073)

OVO Group (DUE0012)

Oxford Climate Lobby (DUE0013)

Oxford Sustainable Finance Programme, University of Oxford (DUE0060)

PIMFA (DUE0081)

Platform (DUE0010)

Plenitude (DUE0015)

Positive Money (DUE0062)

Principles for Responsible Investment (DUE0089)

Professor Tim Jackson (DUE0074)

Project Heather (DUE0082)

RBS (DUE0057)

ROCKWOOL Ltd (DUE0020)

Ruffer LLP (DUE0094)

Ryse Hydrogen (DUE0095)

ScottishPower (DUE0090)

SGN (DUE0067)

ShareAction (DUE0096)

Shell UK Ltd (DUE0047)

Solar Trade Association (DUE0092)

Storelectric Ltd (DUE0001)

Storelectric Ltd (DUE0002)

Sustainable Energy Association (DUE0078)

The Confederation of British Industry (DUE0110)

The Grantham Research Institute on Climate Change and the Environment (DUE0105)

The Investment Association (DUE0071)

The Mineral Wool Insulation Manufacturers Association (MIMA) (DUE0097)

The Natural History Museum (DUE0017)

UK Finance (DUE0011)

UK Green Building Council (DUE0023)

UK Power Networks (DUE0072)

UK Sustainable Investment and Finance Association (DUE0044)

Veolia (DUE0085)

WWF (DUE0068)

Zurich Insurance (DUE0052)

Decarbonisation Inquiry LSE follow up evidence European Investment Bank

7. Impact of Business Rates on Business

Ordered, That the following written evidence relating to Impact of Business Rates on Business


John Lewis Partnership - supplementary (IBR0145)

Paul Crossman (supplementary II) (IBR0152)

Revo - supplementary (IBR0143)

Solar Trade Association (IBR0146)

VOA supplementary

VOA supplementary Annex A

7. Regional imbalances in the UK

Ordered, That the following written evidence relating to Regional imbalances in the UK be

reported to the House for publication:

Aberdeen City Region (RDE0047)

Action with Communities in Rural England (RDE0032)

Anonymous Member of Public (RDE0024)

Barclays (RDE0041)

Black Country Local Enterprise Partnership (LEP) (RDE0018)

Britain's Leading Edge (RDE0061)

British Business Bank (RDE0070)

British Chambers of Commerce (RDE0069)

British Property Federation (RDE0048)

Campaign to Protect Rural England (CPRE) (RDE0043)

Cardiff University (RDE0014)

Carnegie UK Trust (RDE0025)

Centre for Brexit Studies at Birmingham City University (RDE0021)

Centre for Cities (RDE0030)

Centre for London (RDE0042)

City REDI Institute - University of Birmingham (RDE0063)

Common Futures Network (RDE0019)

Confederation of British Industry (RDE0022)

Core Cities UK (RDE0036)

Cornwall Council and Cornwall and Isles of Scilly Local Enterprise Partnership

(RDE0016)

Country Land and Business Association (CLA) (RDE0011)

County Durham Economic Partnership (RDE0035)

Cumbria Local Enterprise Partnership (RDE0064)

Deloitte (RDE0060)

Department for the Economy, Northern Ireland (RDE0033)

Design Council (RDE0050)

Dr Elvira Uyarra, University of Manchester (RDE0026)

Dr Marianne Sensier, Manchester University (RDE0027)

East Devon Alliance (RDE0002)

Economic Statistics Centre of Excellence (ESCoE) (RDE0066)

Economy, Infrastructure and Skills Committee, Welsh Assembly (RDE0068)

Fraser of Allander Institute (RDE0052)

Greater Birmingham Chambers of Commerce (RDE0001)

Greater London Authority (RDE0031)

Greater Manchester Combined Authority (RDE0054)

Heart of the South West Joint Committee and LEP (RDE0015)

High Speed Rail Industry Leaders (RDE0049)

Homes for the North (c/o Riverside) (RDE0057)

ICAEW (RDE0055)

Institute of Directors (RDE0005)

Law Society of Scotland (RDE0044)

London First (RDE0040)

Marches Local Enterprise Partnership (RDE0013)

New Anglia LEP (RDE0075)

Newcastle City Council (RDE0053)

Norfolk County Council (RDE0067)

North East Local Enterprise Partnership (RDE0062)

Northern Health Science Alliance (RDE0037)

Northern Powerhouse Partnership (RDE0058)

Office for Budget Responsibility (RDE0074)

Office for National Statistics (RDE0072)

Office for Statistics Regulation (RDE0073)

Port of Milford Haven (RDE0077)

Productivity Insights Network (RDE0010)

Professor Cecilia Wong, Manchester University (RDE0028)

Professor Nigel Driffield, Warwick University (RDE0009)

Professor Richard Harris, Durham University (RDE0056)

Professor Ron Martin, University of Cambridge (RDE0012)

Professor Steve Fothergill, Sheffield Hallam University (RDE0006)

Professor Henry Overman and Dr Anna Valero, London School of Economics

(RDE0008)

Royal Institute of British Architects (RDE0065)

Royal Statistical Society (RDE0039)

Royal Town Planning Institute (RDE0029)

Sheffield City Region Executive Team (RDE0059)

South East England Councils (RDE0046)

Tax Justice Network (RDE0007)

Tees Valley Combined Authority (RDE0034)

The Local Government Association (RDE0045)

The One Powerhouse Consortium (RDE0004)

UK Tech Cluster Group (RDE0038)

UK2070 Commission (RDE0020)

Welsh Government - Minister for Finance and Trefnydd (RDE0076)

West Yorkshire Combined Authority / Leeds City Region Enterprise Partnership

(RDE0051)

 

[Adjourned till Wednesday 4 September at 2.00 p.m. 


Members present:

John Mann, took the Chair, in accordance with the Resolution of the Committee of 4

September

Rushanara Ali

Mr Steve Baker

Alison McGovern

Catherine McKinnell

Wes Streeting

Alison Thewliss

1. Correspondence


internet:

Exchequer Secretary to the Treasury to the Chair regarding electric vehicle charging

(dated 2 September)

Governor of the Bank of England to the Committee regarding Brexit outcomes (dated

3 September)

2. Letter from the interim Chair to the Chief Secretary of the Treasury

The Committee considered the matter.


Dr Mark Carney, Governor of the Bank of England; Andy Haldane, Chief Economist and

Executive Director, Monetary Analysis & Statistics, Bank of England; Professor Jonathan

Haskel, External Member, Monetary Policy Committee, Bank of England and Dr Gertjan

Vlieghe, External Member of the Monetary Policy Committee, Bank of England gave oral

evidence.

[Adjourned till Monday 9 September at 4.00 p.m.

Monday 9 September 2019 

Members present: 

John Mann, took the Chair, in accordance with the Resolution of the Committee of 4

September

Mr Steve Baker

Catherine McKinnell

  Wes Streeting

Alison Thewliss 

 

 

1. Economic Crime

Ordered, That the written evidence relating to Economic Crime submitted by the Payment

Systems Regulator (ECR0096) be reported to the House for publication on the internet.


Ordered, That the following written evidence relating to The Work of the Financial Conduct


Premier FX Liquidation Committee – questions for Barclays (FCA0006);

Premier FX Liquidation Committee – questions for FCA (FCA0007);

Premier FX Liquidation Committee – questions for key facts (FCA0008);

Premier FX Liquidation Committee (FCA0009).

3. Choice of interim Chair

Resolved, That Catherine McKinnell take the Chair for any meetings until the election of a

Chair.—(Wes Streeting)

3. Spending Round 2019 (oral evidence)

Robert Chote, Chairman, Office for Budget Responsibility, Prof. Sir Charlie Bean, Budget

Responsibility Committee member, The Office for Budget Responsibility, Andy King, Budget

Responsibility Committee member, The Office for Budget Responsibility gave oral evidence.

 

[Adjourned till a time and place to be fixed by the Chair

Appendix I

Members’ Declarations of Interests

14 September 2017

Elphicke, Charlie (Dover)

2. (a) Support linked to an MP but received by a local party organisation or indirectly via a central party

organisation

Name of donor: Dominic Johnson

Address of donor: private

Amount of donation or nature and value if donation in kind: fundraising dinner, total value £2,454.30

Donor status: individual

(Registered 08 March 2017)

Name of donor: George Hammond plc

Address of donor: Hammond House, Limekiln Street, Dover CT17 9EF

Amount of donation or nature and value if donation in kind: £2,000

Donor status: company, registration 690947

(Registered 29 June 2017)

Name of donor: Goody Demolition Ltd

Address of donor: Wilcox close, Aylesham Industrial Estate, Canterbury CT3 3EP




Name of donor: Lord David Freud





Name of donor: Datum Groundworks Ltd

Address of donor: Wilcox Close, Aylesham Industrial Estate, Aylesham, Canterbury CT3 3EP



(Registered 22 August 2017)

3. Gifts, benefits and hospitality from UK sources

Name of donor: Road Haulage Association

Address of donor: Roadway House, Bretton Way, Bretton, Peterborough PE3 8DD

Amount of donation or nature and value if donation in kind: secondment of parliamentary researcher from

17 January 2017 to 17 January 2018, value £22,577

Date received: 17 January 2017

Date accepted: 17 January 2017



Additional declarations made at first Committee Meeting (14 September 2017)

My wife, Natalie Elphicke OBE is a director of i) the Student Loans Company (and an independent external

advisor to the Department of Education's audit & risk committee) ii) Principality Building society and iii)

the Housing & Finance Institute.

(Updated 12 October 2017)

Hammond, Stephen (Wimbledon)

1. Employment and earnings

From January 2016, political consultant (ad hoc) for the Confederation of Passenger Transport, 4-43 Russell

Street, London WC2B 5HA. I consulted the Advisory Committee on Business Appointments about this role.

(Registered 03 May 2016)

27 July 2016, received £6,000 for political and transport advice provided during the period March to June

2016. Hours: a maximum of 60 hrs in total. (Registered 05 August 2016)

6 January 2017, received £1,500 for political and transport advice provided during November 2016. Hours:

10-15 hrs. (Registered 23 February 2017)

6 January 2017, received £1,500 for advice for political and transport advice provided during December

2016. Hours: 10-15 hrs. (Registered 23 February 2017)

10 November 2016, received £1,500 for political and transport advice provided during September 2016.

Hours: 10-15 hrs. (Registered 27 February 2017)

10 November 2016, received £1,500 for political and transport advice provided during October 2016. Hours:

10-15 hrs. (Registered 27 February 2017)

7 March 2017, received £1,500 for political and transport advice provided during January 2017. Hours: 10-

15 hrs. (Registered 28 March 2017)

14 March 2017, received £1,500 for political and transport advice provided during February 2017. Hours:

10-15 hrs. (Registered 28 March 2017)

7 October 2016, received £750 from Collyer Bristow LLP, 4 Bedford Row, London WC1R 4TF, for

speaking in a debate on 19 September 2016. Hours: 5 hrs including preparation. (Registered 03 November

2016)

Payment of £500 expected from Atkins Global, Euston Tower, 286 Euston Road, London NW1 3AT, for

speaking at a seminar on 24 October 2016. Hours: 3 hrs including preparation. (Registered 03 November

2016)

12 October 2016, received £500 from Goodacre Securities, Longcroft House, 2/8 Victoria Avenue, London

EC2M 4NS, for speaking at a seminar. Hours: 3 hrs including preparation. (Registered 23 November 2016)


organisation

Name of donor: Mr Brian Winterflood




(Registered 06 July 2017)

Name of donor: Mr Brian Winterflood





Name of donor: Mr Shahid Uddin Khan


Amount of donation or nature and value if donation in kind: £1000



Name of donor: Mr Shahid Uddin Khan





Name of donor: Mrs Farjana Anjum Khan





Name of donor: Mrs Farjana Anjum Khan





Name of donor: Mr Ian Roper Taylor





Name of donor: Mr Ian Roper Taylor





Name of donor: Mr James Aitkin





Name of donor: Mr James Aitkin






Name of donor: All England Lawn Tennis Club

Address of donor: Church Road, London SW9 5AE

Amount of donation or nature and value if donation in kind: two tickets for the royal box at Wimbledon on

1 July 2016, and associated hospitality; value £498 in total

Date received: 1 July 2016

Date accepted: 1 July 2016

Donor status: company, registration no 07546773


Name of donor: Royal Bank of Scotland

Address of donor: 4th Floor, 280 Bishopsgate, London EC2M 4RB

Amount of donation or nature and value if donation in kind: two tickets and associated hospitality at

Wimbledon on 10 July 2016; value £2,400 in total



Donor status: company, registration no 90312


4. Visits outside the UK

Name of donor: Hong Kong Government

Address of donor: c/o Hong Kong Economic and Trade Office, 18 Bedford Square, London WC1B 3JA

Estimate of the probable value (or amount of any donation): Flights approx. £8,500; accommodation and

food approx. £1,652; transport and hospitality approx. £207; total value £10,359

Destination of visit: Hong Kong

Dates of visit: 9-13 January 2017

Purpose of visit: APPG on China delegation to maintain bilateral ties; support British businesses operating

in Hong Kong; and deepen the knowledge of parliamentarians of Hong Kong’s political, social and

economic development.

(Registered 23 February 2017)

7. (i) Shareholdings: over 15% of issued share capital

Peal Gas Ltd; Delaware Registered Company, fiscal domicile Portugal which owns my holiday home.

From 8 March 2017, South Coast Regeneration and Investment Property (SCRIP). (Registered 08 March

2017)

8. Miscellaneous

I have an investment in two holdings in the Harwood Film Partnership. (Registered 07 March 2013)

From 14 February 2017, an unpaid director of South Coast Regeneration and Investment Property (SCRIP).


9. Family members employed and paid from parliamentary expenses

I employ my wife, Sally Hammond, as Office Manager/Secretary.

Jack, Mr Alister (Dumfries and Galloway)


Non-executive chairman and director of Fulling Mill Ltd (manufacturer of fishing flies), 8 Fairlawn

Enterprise Park, Bonehurst Road, Salfords RH1 5GH. From July onwards I receive £15,000 a year, paid

monthly, for an estimated 60-80 hrs a year, chairing four board meetings a year and giving general advice.


28 June 2017, received £2,206.72. Hours: none since my election. (Registered 03 July 2017)


organisation

Name of donor: Sir Henry Keswick





Name of donor: P D R Landale





Name of donor: E P K Weatherall





Name of donor: Stalbury Trustees

Address of donor: 31 Hill Street, London W1J 4LS




6. Land and property portfolio: (i) value over £100,000 and/or (ii) giving rental income of over £10,000 a

year

Agricultural land in Dumfries and Galloway: (i) and (ii). (Registered 29 June 2017)

Two cottages in Dumfries and Galloway: (i) and (ii). (Registered 29 June 2017)

Salmon fishery in Dumfries and Galloway: (i) and (ii). (Registered 29 June 2017)


Atlantic Solway Holdings Ltd; investment holding company. (Registered 29 June 2017)

Cantco Ltd (100% owned Nameco); Lloyds insurance underwriting. (Registered 29 June 2017)

Courance Farms. (Registered 29 June 2017)

Edinburgh Self Storage Ltd. (Registered 29 June 2017)

Fishfigure Ltd; fishing app. (Registered 29 June 2017)

Mollin HEP Ltd; hydro-electric power. (Registered 29 June 2017)

7. (ii) Other shareholdings, valued at more than £70,000

Hotspace Health Ltd; wellness studio. (Registered 29 June 2017)

Jardine Matheson Holdings; industrial conglomerate. (Registered 29 June 2017)

One Rebel Ltd; fitness club. (Registered 29 June 2017)

Privet Capital Aeromet LP; supplier of aluminium and magnesium castings. (Registered 29 June 2017)

Privet Capital Pyser LP; supplier of precision optical and electro-optical equipment. (Registered 29 June

2017)

Rars Woodlands Ltd; Christmas tree grower. (Registered 29 June 2017)

Rars Woodlands 2 Ltd; Christmas tree grower. (Registered 29 June 2017)

Rars Woodlands 3 Ltd; Christmas tree grower. (Registered 29 June 2017)

Thomas Murray Network Management Ltd; custody rating on the global securities services industry.


Zhongsheng Holdings; automobile distributor. (Registered 29 June 2017)

8. Miscellaneous

Director (unpaid) of Atlantic Salmon Trust, a charity for the conservation of wild salmon. (Registered 29

June 2017)

Chairman (unpaid) of Fisheries Management Scotland, an umbrella organisation for all fishery boards and

trusts in Scotland. (Registered 29 June 2017)

Chairman (unpaid) of River Annan Trust, a charity promoting conservation work in the River Annan

Catchment. (Registered 29 June 2017)

Chairman (unpaid) of the River Annan and District Salmon Fishery Board. (Registered 29 June 2017)

Director (unpaid) of Atlantic Solway Holdings Ltd; investment holding company. (Registered 07 July 2017)

Director (unpaid) of Cantco Ltd; Lloyds insurance underwriting. (Registered 07 July 2017)

Malthouse, Kit (North West Hampshire)


I receive £40,000 p.a. until further notice as Chairman and founder of County Finance Group Ltd, and its

associated companies of which I am also a director: County Asset Finance Ltd, County Plant and Equipment

Sales Ltd and County Business Finance Ltd, all of Midland Court, Central Park, Lutterworth LE17 4PN. My

remuneration is paid on behalf of the Group by County Asset Finance Ltd which also provides me with

approximately £10,000 of taxable benefits. Hours: between 10 hrs and 35 hrs a month. (Registered 02 June

2015)

5 July 2016, £250 paid direct to local charity by Hume Brophy International Communications Consultancy,

1 Fetter Lane, London EC4A 1BR. This was in return for a speech I gave, as Chair of the APPG for Life

Sciences. Hours: 1.5 hrs. (Registered 15 July 2016)

8 December 2016, £300 paid direct to local charity by Montfort, Berkeley Square House, Berkeley Square,

London W1J 6BD, for delivering a speech and Q&A session on 17 October 2016, in my role as Chair of the

APPG for Life Sciences. Hours: approx. 1.5 hrs. (Registered 02 February 2017)


Name of donor: Medical Aid for Palestinians

Address of donor: 33a Islington Park Street, London N1 1QB

Estimate of the probable value (or amount of any donation): flights, accommodation, food and transport with

a total value of £1,230

Destination of visit: West Bank and Israel

Dates of visit: 19-23 September 2016

Purpose of visit: Fact finding visit organised by the Council for Arab-British Understanding and Medical

Aid for Palestinians.

(Registered 18 October 2016)


County Finance Group Ltd; provision of equipment finance. (Registered 02 June 2015)

County Business Finance Ltd; provision of equipment finance. (Registered 02 June 2015)

Additional declarations made at first Committee Meeting (14 September 2017)

I am an "approved person" by the Financial Conduct Authority and a member of the Institute of Chartered

Accountants in England and Wales.

Both companies declared in section 7 (i) are regulated by the Financial Conduct Authority.

Customer (commercial and personal) of Royal Bank of Scotland.

Mann, John (Bassetlaw)


Payments from Ipsos MORI, 79-81 Borough Road, London SE1 1FY, following the completion of surveys.

Payment made to Bassetlaw CLP:

22 August 2016, received £200. Hours: 15 mins. (Registered 22 August 2016)


organisation

Name of donor: Sir Trevor Chinn





Name of donor: GMB Midland & East Coast Region

Address of donor: 542 Woodborough Road, Nottingham NG3 5FJ


Donor status: trade union


Name of donor: Community Union

Address of donor: 465c Caledonian Road, London N7 9GX





Name of donor: The PCAA Foundation

Address of donor: PO Box 4015, London W1A 6NH

Amount of donation (or estimate of the probable value): Flight plus one nights accommodation, value £4,500

Destination of visit: Washington DC

Date of visit: 5-7 June 2016

Purpose of visit: invited by the American Jewish Committee to inform their annual congress of my

parliamentary work as Chair of the All-Party Parliamentary Group Against Anti-Semitism.

(Registered 15 September 2016)

Name of donor: (1) The PCAA Foundation (2) Qatari Ministry of Foreign Affairs

Address of donor: BM5369 London WC1N3XX (2) Doha, Qatar

Estimate of the probable value (or amount of any donation): (1) Flights £1,550; hotels/meals £954; transport:

£463; total £2,967 (2) Two nights accommodation in Doha with an estimated value of £400

Destination of visit: Israel and the Palestinian Territories, Qatar

Dates of visit: 2-8 January 2017

Purpose of visit: APPG Against Antisemitism delegation to discuss and seek out good practice in addressing

antisemitism and racism in football and on the internet.

(Registered 13 January 2017)

Name of donor: The PCAA Foundation

Address of donor: BM5369 London WC1N3XX

Estimate of the probable value (or amount of any donation): Flights £202.50; hotels/meals £113; transport

£68; total £383.50

Destination of visit: The Vatican, Rome

Dates of visit: 19-20 March 2017

Purpose of visit: Delegation of MPs with the APPG Against Antisemitism to visit the Vatican to discuss

Christian responses to antisemitism.


9. Family members employed and paid from parliamentary expenses

I employ my wife, Joanna White, as Office Manager.

McGovern, Alison (Wirral South)


organisation

Name of donor: Communication Workers Union

Address of donor: 150 the Broadway, London SW19 1RX

Amount of donation or nature and value if donation in kind: £2,000 in monthly instalments of £166.67

between September 2015 and August 2016


(Registered 18 December 2015)

Name of donor: Communication Workers Union

Address of donor: 150 the Broadway, London SW19 1RX

Amount of donation or nature and value if donation in kind: £2,000 in monthly instalments of £166.67

between September 2016 and August 2017



Name of donor: Communications Workers Union

Address of donor: 150, the Broadway, London SW19 1RXAmount of donation or nature and value if

donation in kind: £4,000



Name of donor: UNISON

Address of donor: 1st Floor Congress House, Great Russell Street, London WC1B 3LS




Name of donor: Musicians' Union

Address of donor: 33 Palfrey Place, London SW8 1PE




Name of donor: Betterworld Ltd

Address of donor: 14, St Mary's Street, Stamford, Lincolnshire PE9 2DE




Name of donor: More United Ltd

Address of donor: 32 Great Peter Street, London SW1P 2DB




Name of donor: Lord Matthew Oakeshott





McKinnell, Catherine (Newcastle upon Tyne North)


organisation

Name of donor: GMB

Address of donor: 1 Mosley Street, Newcastle upon Tyne, NE1 1YE




2. (b) Any other support not included in Category 2(a)

Name of donor: Catholic Bishops’ Conference of England and Wales

Address of donor: 39 Eccleston Square, London SW1V 1BX

Amount of donation or nature and value if donation in kind: an educational allowance of £5,330 and

accommodation provided for an intern in my parliamentary office for 10 months: October 2016 – July 2017

Date received: 10 October 2016

Date accepted: 10 October 2016

Donor status: registered charity



year

Joint owner of residential rented property in Northumberland: (i).

8. Miscellaneous

Solicitor (currently non-practising).

Morgan, Nicky (Loughborough)


Payments from the BBC, New Broadcasting House, Portland Place, London W1A 1AA:

22 November 2016, received £150 for appearing on 'Any Questions' on 4 November 2016. Hours: 2 hrs.


26 July 2017, received £150 for appearing on 'Any Questions' on 14 July 2017. Hours: 2 hrs. (Registered

11 September 2017)

23 December 2016, received £5,000 from the University of Birmingham, Edgbaston, Birmingham B15 2TT,

for speaking at a seminar and dinner. Hours: 5 hrs. (Registered 11 January 2017)

17 March 2017, received £1,000 from LaingBuisson (healthcare research company), 29 Angel Gate, 326

City Road, London EC1V 2PT, for speaking at a conference on 8 February 2017. Hours: 2 hrs. (Registered

22 March 2017)

Speaking engagements arranged through STH Management Ltd, Donington Hall, Castle Donington, Derby

DE74 2SG. I consulted ACoBA about my agreement with this company:

29 March 2017, received £2,550 from Automotive Fellowship International, 7 Old Square, Warwick

CV34 4RA, for speaking at their conference. Hours: 6 hrs. (Registered 28 April 2017)

8 May 2017, received £2,250 from Worldwide Business Research Ltd, 129 Wilton Road, London SW1V

1JZ, for speaking at Tradetech, a conference organised by the payer. Hours: 5 hrs including preparation.



organisation

Name of donor: J T Leavesley Ltd

Address of donor: Ryknield House, Alrewas, Burton on Trent DE13 7AB




Name of donor: Blue Skies Investment Ltd

Address of donor: Nene House, 4 Rushmills, Northampton NN4 7YB




Name of donor: Regents House Ltd

Address of donor: 167 Imperial Drive, Harrow HA2 7HD




Name of donor: 3R Construction

Address of donor: Sitel House, 3-6 Cettle Market, Loughborough LF11 3DL





Name of donor: (1) Conservative Friends of Israel Ltd (2) Israeli Ministry of Foreign Affairs

Address of donor: (1) PO Box 72288, London SW1P 9LB (2) 9 Yitzhak Rabin Blvd., Kiryat Ben-Gurion,

Jerusalem 9103001

Estimate of the probable value (or amount of any donation): (1) Air travel for myself, plus VIP airport

service, accommodation, hospitality and tour of the Dead Sea, for myself, my husband and son, total value

£3,500 (2) Bus travel, of which my husband and son had one day's use, value £650

Destination of visit: Israel and the West Bank

Dates of visit: 12-17 February 2017

Purpose of visit: Fact finding political delegation.


Name of donor: Unicef UK

Address of donor: 30A Great Sutton Street, London EC1V 0DU

Estimate of the probable value (or amount of any donation): Flights and hotel with a value of £587.44

Destination of visit: Athens, Greece

Dates of visit: 29 March - 1 April 2017

Purpose of visit: To see Unicef's work in Athens and discuss the UK's role in tackling the refugee crisis.

(Registered 25 April 2017)


From 7 July 2017, Cotes Consult Ltd; corporate advisory services. (Registered 11 September 2017)

8. Miscellaneous

Unpaid director of Loughborough Wellbeing C.I.C. (Registered 11 September 2017)

From 7 July 2017, unpaid director of Cotes Consult Ltd. (Registered 11 September 2017)

11 October 2017

Ali, Rushanara (Bethnal Green and Bow)


organisation

Name of donor: Bamfords Trust plc

Address of donor: Church Down Chamber, Bordyke, Tunbridge TN9 1NR

Amount of donation, or nature and value if donation in kind: £5,000



Name of donor: Nurun Nabi






year

Two residential properties in London: (i) and (ii). (Registered 16 September 2014)

Additional declarations made at first Committee Meeting (11 October 2017)

Chair of UpRising Leadership. A national youth leadership and employability charity.

Hosie, Stewart (Dundee East)


Name of donor: Dundee United Football Club

Address of donor: Tannadice Park, Dundee DD3 7JW

Amount of donation or nature and value if donation in kind: Entry to Tannadice and hospitality for the season,

value £500



Donor status: company, registration SCO13690


Name of donor: Dundee United Football Club

Address of donor: Tannadice Park, Dundee DD3 7JW

Amount of donation or nature and value if donation in kind: Entry to Tannadice and hospitality for the current

season for myself and an occasional guest, value £500

Date received: 6 August 2016

Date accepted: 6 August 2016

Donor status: company, registration SCO13690


Streeting, Wes (Ilford North)


organisation


Address of donor: 130 Euston St, Euston NW1 2AY

Amount of donation or nature and value if donation in kind: the printing of leaflets for MP’s annual report, value

£3,472.50





Amount of donation or nature and value if donation in kind: printing of leaflets for King George Hospital A&E

Campaign, value £736



Name of donor: Unite the Union

Address of donor: 33-37 Moreland Street, London EC1V 8BB

Amount of donation or nature and value if donation in kind: postage with a value of £8,960.55




Address of donor: 130 Euston Road, London NW1 2AY




Name of donor: Community Union

Address of donor: 465 Caledonian Road, London N7 9GX




Name of donor: Global Diversity Awards Ltd

Address of donor: 28 Huntsworth Mews, London NW1 6DB




Name of donor: GMB

Address of donor: 22 Stephenson Way, Euston, London NW1 2HD




Name of donor: Henry Tinsley





Name of donor: M S Events

Address of donor: 114.116 Goodmayes Road, Ilford IG3 9UZ

Amount of donation or nature and value if donation in kind: use of a marquee to the value of £4,850





Amount of donation, or nature and value if donation in kind: printing of leaflets with a value of £2,205.50




Name of donor: Peter Hearn



Date received: 27 April 2017

Date accepted: 4 May 2017



Name of donor: B M Creative Management Ltd

Address of donor: 81 Aldwych, London WC2B 4HN


Date received: 28 April 2017




Name of donor: Lord Matthew Oakeshott



Date received: 9 May 2017





Name of donor: (1) The Great Britain China Centre with sponsorship by Prudential plc; (2) The All China Youth

Federation

Address of donor: (1) 15 Belgrave Square, London SWIX 8PS; (2) 10, Qianmen Dong Dajie, Beijing, 100051,

People’s Republic of China

Estimate of the probable value (or amount of any donation): (1) Flights and local transport with a value of £642.50;

(2) Flights and local transport £642.50, plus accommodation £889, food and drink £178 and meetings (inc.

interpretation, venue hire, equipment) £1,333, total £3,042.50

Destination of visit: China

Dates of visit: 5 – 9 December 2016

Purpose of visit: To attend the 2016 UK-China Young Leaders Roundtable and the UK-China People-to-People

Dialogue, building UK-China partnership in youth, reform, innovation and entrepreneurship.


Name of donor: Falkland Islands Government

Address of donor: The Secretariat, Stanley, Falkland Islands FIQQ 1ZZ

Estimate of the probable value (or amount of any donation): Return flights; in-country transportation; four nights'

accommodation; meals and sundries; transport in the UK; total value £3,124.55

Destination of visit: Falkland Islands

Dates of visit: 16-22 February 2017

Purpose of visit: Familiarisation.


10. Family members engaged in lobbying the public sector on behalf of a third party or client

My partner, Joseph Dancey, is a self-employed communications and public affairs adviser. (Registered 28 January

2016)

Additional declarations made at Committee Meeting (28 November 2017)

Councillor representing London Borough of Redbridge, Aldborough Ward (unpaid).

Vice President of Local Government Association (unpaid).

Additional declarations made at Committee Meeting (4 September 2018)

August 2018, invoiced £5,000 from J.P. Morgan for speaking at a panel discussion.

21 February 2018

Clarke, Mr Simon (Middlesbrough South and East Cleveland)


Payment of £200 expected from Ipsos MORI, 3 Thomas More Square, London E1W 1YW, for completing the

Winter 2017 Survey on 23 November 2017. Hours: approx. 1 hr. This fee will be paid direct to my campaign fund.



organisation

Name of donor: Tees Components Ltd

Address of donor: Bolkow Street, North Skelton, Saltburn-by-the-Sea, Cleveland TS12 2AP




Name of donor: Jeremy J Hosking





Name of donor: Lord Stanley Kalms






Name of donor: Tees Components Ltd

Address of donor: Bolckow Street, North Skelton, Saltburn by the Sea, Cleveland TS12 2AP


Date received: 2 November 2017

Date accepted: 3 November 2017


(Registered 15 November 2017)

Additional declaration made at Committee Meeting (25 June 2019)

Pecuniary interest in relation to the Committee’s inquiry into the Work of the Financial Conduct Authority, namely

as a customer of Hargreaves Lansdown with a small holding of LF Woodford Equity Income.

14 November 2018

Clark, Colin (Gordon)


Name of donor: Glenfarclas Distillery

Address of donor: Ballindalloch AB 37 9BD

Amount of donation, or nature and value if donation in kind: Two tickets with hospitality to Cheltenham

Festival, with a total value of £500

Date received: 14 March 2018

Date accepted: 14 March 2018

Donor status: company, registration SC025459

(Registered 25 April 2018)

6. Land and property portfolio: (i) value over £100,000 and/or (ii) giving rental income of over £10,000 a year

House in Inverurie, co-owned with my wife: (i) and (ii). (Registered 28 June 2017)

Farm and agricultural land in Aberdeenshire, including three cottages which are rented out: (i) and (ii).



Nessgro Ltd; a produce marketing company. (Registered 28 June 2017)

Partner in Thomastown Farm and Cottages (trading as R&M Clark). (Registered 28 June 2017)

Sciemus Ltd; technology and insurance. (Registered 28 June 2017)

Maven Capital (Llandudno) LLP; property investment. (Partner) (Registered 28 June 2017)

Maven Capital (Marlow) LLP; property investment. (Partner) (Registered 28 June 2017)

Maven Capital (Telfer House) LLP; property investment. (Partner) (Registered 28 June 2017)

Maven Co-invest Flexlife; subsea technology. (Registered 28 June 2017)

Maven Co-invest R&M; fabrication. (Registered 28 June 2017)

Maven Co-invest RMEC; well services, oil and gas. (Registered 28 June 2017)

8. Miscellaneous

Director (unpaid) of Nessgro Ltd, a produce marketing company. (Registered 28 June 2017)

4 December 2018

Baker, Mr Steve (Wycombe)


17 August 2018, received £250 from the Telegraph, 111 Buckingham Palace Road, London, SW1W 0DT, for an

article written on 9 July 2018. Hours: approx. 3 hrs. Fee donated to a local charity. (Registered 21 August 2018)


Name of donor: Jardentome Ltd

Address of donor: Wicksteed Leisure Ltd, Digby Street, Kettering, Northamptonshire NN16 8YJ

Amount of donation or nature and value if donation in kind: From June 2018 to May 2019, accommodation in

London, approx. value £1,105 per calendar month; £13,260 a year.

Date received: 1 June 2018 to May 2019

Date accepted: 1 June 2018




From 31 May 2017, Glint Pay Ltd; financial services holding company. (Registered 22 June 2017)


Pecuniary interest in relation to the Committee’s inquiry into the Work of the Financial Conduct Authority, namely

as a customer of Hargreaves Lansdown with a small holding of LF Woodford Equity Income.


Pecuniary interest in relation to the Committee’s inquiry into Bank of England Inflation Reports, namely as a

shareholder in Glint Pay Ltd, a financial services holding company.

12 June 2019

Thewliss, Alison (Glasgow Central)

Nil

Appendix II

Current Specialist Advisers’ Declarations of Interests

11 October 2017

Andrew Green QC

Andrew Green QC has no relevant interests to declare, financial or otherwise, related to the work of the Treasury

Committee.

Fraser Campbell

Fraser Campbell has no relevant interests to declare, financial or otherwise, related to the work of the Treasury

Committee.

10 October 2018

Professor Sir Stephen Nickell

Professor Sir Stephen Nickell has no relevant interests to declare, financial or otherwise, in the area of the UK's

economic relationship with the European Union inquiry

19 December 2018

Gareth Lewis

Gareth Lewis has no relevant interests to declare, financial or otherwise, in the area of the IT failures in the

financial services sector inquiry

Former Specialist Advisers’ Declarations of Interests

14 September 2017

Ian Dilks (14 September 2017–16 April 2018)

Ian Dilks has declared the following interests:

Non-Executive Director of Royal London Insurance Mutual Insurance; and

Chair of NHS Resolution.

Ian Marshall (14 September 2017–16 April 2018)

Ian Marshall has declared the following interests:

Senior adviser at the PRA (not involved with policy)

Non-Executive Director at n Insurance Company (General Insurance)

David Murray (14 September 2017–16 April 2018)

David Murray has no relevant interests to declare, financial or otherwise, in the area of insurance.

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