Hansard - United Kingdom Parliament

77W
Written Answers
20 JUNE 2011
Written Answers
78W
Banking capital requirement guidelines are set by the
Basel Committee on Banking Supervision. In November
2010, G20 Leaders endorsed the “Basel III” reform
package proposed by the Committee. The package will
more than triple the amount of high quality capital
banks will be required to hold, helping them to survive
losses and continue to lend. Ending the fractional reserve
banking system has not been considered as a viable
policy option for the UK economy; no assessment of
the likely effects on industry has been made.
Banks
Stuart Andrew: To ask the Chancellor of the Exchequer
(1) what requirements exist for banks to recognise deputies
appointed by the Court of Protection; [41257]
(2) what requirements exist for banks to recognise
the carers of disabled customers. [41258]
Mr Hoban [holding answer 16 February 2011]: Under
the Equality Act 2010, service providers, including high
street banks, must make reasonable adjustments for
disabled people in the way they deliver their services.
This may include allowing the carer or the deputy to act
for the disabled person. Service providers must not
discriminate against disabled persons as to the terms on
which they offer services, by not providing the service or
subjecting the disabled person to any other detriment.
Child Benefit: EU Nationals
Mr Hollobone: To ask the Chancellor of the
Exchequer what steps he is taking with his EU
counterparts to reform the payment of child benefit to
non-UK EU nationals whose children live outside the
UK. [60950]
Justine Greening: I refer the hon. Member to the
reply I gave to the hon. Member for North East
Cambridgeshire (Stephen Barclay) on 25 November
2010, Official Report, columns 444-45W.
Double Taxation: Israel
Mr Slaughter: To ask the Chancellor of the Exchequer
pursuant to the answer of 8 June 2011, Official Report,
column 325W, on double taxation: Israel, what mechanisms
are in place to exclude income and company tax raised
in settlements in the Occupied Palestinian Territories or
Golan Heights from the benefits of the 1962 Double
Taxation Convention. [60550]
Mr Gauke: Claims for the benefit of the double
taxation convention from persons claiming to be resident
in Israel are checked to ensure that their residential
address is not within the Occupied Palestinian Territories
or Golan Heights.
Economic Situation
Mr Ellwood: To ask the Chancellor of the Exchequer
what assessment he has made of the recent report by
the IMF on the state of the UK economy. [60124]
Justine Greening [holding answer 16 June 2011]: The
International Monetary Fund (IMF) holds bilateral
discussions with each of its member countries, usually
every year, as part of its country surveillance function,
under Article IV of the IMF’s Articles of Agreement.
IMF staff visited London in late May and early June
and met with various institutions, including HM Treasury,
to discuss issues relating to the economy. The IMF
published the concluding statement for this Article IV
consultation on 6 June. The IMF concluded that:
“The current settings of fiscal and monetary policy remain
appropriate”.
The concluding statement can be found on the IMF’s
website at:
http://www.imf.org/external/np/ms/2011/060611.htm
European Investment Bank: North Africa
Mr Douglas Alexander: To ask the Chancellor of the
Exchequer what assessment he has made of the proposals
by the UN High Representative for Foreign Affairs for
greater investment in North Africa from the European
Investment Bank following recent political changes.
[48335]
Mr Hoban: The proposals made by the EU High
Representative for Foreign Affairs provided the European
Council, meeting on 24-25 March with a sound basis
for a thorough and detailed discussion of how the EU
can best help the region following recent political turmoil.
Excise Duties: Fuels
Barry Gardiner: To ask the Chancellor of the
Exchequer what assessment he has made of the effects
of the fuel duty derogation for those who refine less
than 2,500 litres of biodiesel per year. [60644]
Justine Greening: The small producers’ biofuel duty
exemption was introduced in 2007 and continues to
offer effective tax relief to low volume biofuel producers.
The Chancellor keeps all taxes under review along
Budget timelines.
Financial Policy Committee
Mr Darling: To ask the Chancellor of the Exchequer
(1) what the conclusions were of the informal meeting
of the Financial Policy Committee of the Bank of
England held in May 2011; and if he will make a
statement; [61000]
(2) what the schedule of meetings is of the Financial
Policy Committee of the Bank of England; and if he
will publish its minutes and proceedings after each
meeting. [61001]
Mr Hoban: The informal meetings of the interim
Financial Policy Committee (FPC) held in May 2011
were preparatory meetings for the formal interim FPC
meeting held on 16 June 2011. A record of that meeting
will be published on 24 June 2011.
The interim FPC will meet at least four times a year.
The next formal meeting of the interim FPC will be
held in September 2011; the date of the meeting will be
published on 24 June, with the record of the meeting
held on 16 June. A record will be published after each
formal meeting.