here - United Kingdom Parliament

841W
Written Answers
1 DECEMBER 2010
Written Answers
842W
(2) what assessment he has made of the likely effect
on house prices of the mortgage market proposals
made by the Financial Services Authority; and if he
will make a statement. [27484]
Mr Hoban: The Government are committed to a
healthy housing and mortgage market.
The Financial Services Authority (FSA) is conducting
a wholesale review of mortgage regulation in the UK,
the ‘Mortgage Market Review’.
The Government believe that it is right for the FSA
to ensure that the UK mortgage market has responsible
lending practices. We will continue to work with the
FSA, mortgage lenders and intermediaries, and consumer
groups to ensure a mortgage market that is sustainable
for all participants.
The FSA published ‘Mortgage Market Review:
Responsible Lending’ in July which sets out the detail of
some of the proposed changes. This paper forms one
part of an ongoing consultation process.
The FSA has stated that they will fully assess the
potential impact on the market before implementing
any rule changes. Further, the FSA will consult in 2011
on transitional measures to help mitigate any adverse
effects on existing borrowers.
Mr Syms: To ask the Chancellor of the Exchequer
(1) whether he has assessed the effect of the mortgage
market proposals made by the Financial Services
Authority on small businesses with a turnover under
£1 million; [27533]
(2) whether he has assessed the effect of the Financial
Services Authority’s mortgage market review proposals
on the (a) availability of mortgages and (b) operation
of the housing market; and if he will make a statement;
[27534]
(3) whether he has discussed with the Council of
Mortgage Lenders the proposals on responsible lending
made by the Financial Services Authority and their
likely effect on the housing market; [27535]
(4) if he will take steps to ensure that the implementation
of the Financial Services Authority’s mortgage market
review proposals does not have a negative effect on
home-buyers and the housing market; [27536]
(5) what estimate he has made of the number of
borrowers who may not be able to take out remortgages
following the introduction of the Financial Services
Authority’s proposals for the mortgage market; and if
he will bring forward measures to assist such borrowers;
[27539]
(6) what estimate he has made of the number of
mortgages granted since 2005 which would not have
been issued under the Financial Services Authority’s
proposals for the mortgage market; [27540]
(7) if he will take steps to ensure that (a) self-employed
and (b) other homebuyers with variable incomes will be
able to obtain mortgages under the Financial Services
Authority’s proposals for the mortgage market; [27544]
(8) what assessment he has made of the likely effects
of implementation of the Financial Services Authority’s
proposals on availability of mortgage finance on homeownership
in the UK. [27537]
Mr Hoban: The Government are committed to a
healthy housing and mortgage market.
The Financial Services Authority (FSA) is conducting
a wholesale review of mortgage regulation in the UK,
the ‘Mortgage Market Review’.
The Government believe that it is right for the FSA
to ensure that the UK mortgage market has responsible
lending practices. We will continue to work with the
FSA, mortgage lenders and intermediaries, and consumer
groups to ensure a mortgage market that is sustainable
for all participants.
The FSA published ‘Mortgage Market Review:
Responsible Lending in July’, which sets out the details
of some of the proposed changes. This paper forms one
part of an ongoing consultation process.
The FSA has stated that they will fully assess the
potential impact on the market before implementing
any rule changes. Further, the FSA will consult in 2011
on transitional measures to help mitigate any adverse
effects on existing borrowers.
Treasury Ministers and officials have discussions with
a wide variety of organisations in the public and private
sectors as part of the process of policy development
and delivery. As was the case with previous Administrations,
it is not the Government’s practice to provide details of
all such discussions.
Private Finance Initiative: Newton Abbot
Anne Marie Morris: To ask the Chancellor of the
Exchequer what schemes under the Private Finance
Initiative there are in Newton Abbot constituency.
[26022]
Danny Alexander: A list of signed and in procurement
PFI projects can be found on HM Treasury’s website at:
http://www.hm-treasury.gov.uk/ppp_pfi_stats.htm
For each PFI project, this list details the project name,
the capital value, the constituency, the procuring authority
and whether it is on or off balance sheet; as used by the
ONS in calculating public sector net debt. This indicates
that there are currently no PFI projects in the Newton
Abbot constituency.
Revenue and Customs: Marketing
Priti Patel: To ask the Chancellor of the Exchequer
pursuant to the answer of 23 November 2010, Official
Report, column 274W, on incentives, from which of its
budgets HM Revenue and Customs funds expenditure
on promotional material; and how much has been
spent from each such budget in each of the last three
years. [27477]
Mr Gauke: In HMRC, promotional items may be
printed paper, office supplies or non paper items. These
items will have been purchased via a range of budgets
including commodities such as print, paper/stationery.
From these budgets promotional materials are not
identifiable from other items and cannot be disaggregated
except at disproportionate cost. No central record is
held of the spend on promotional materials and is not
available except at disproportionate cost.