Appointment of Dr Mark Carney as Governor of the Bank of England

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Publisher : The Stationery Office
ISBN 13 : 9780215056955
Total Pages : 100 pages
Book Rating : 4.0/5 (569 download)

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Book Synopsis Appointment of Dr Mark Carney as Governor of the Bank of England by : Great Britain: Parliament: House of Commons: Treasury Committee

Download or read book Appointment of Dr Mark Carney as Governor of the Bank of England written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2013-04-19 with total page 100 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Treasury Committee has today published a report following the pre-commencement hearing it held with the next Governor of the Bank of England, Dr Mark Carney, on 7 February 2013. During the hearing, Dr Carney offered his views on the UK's future monetary policy framework. The Treasury Committee will report its conclusions, based in part on Dr Carney's evidence, in its forthcoming Report on the Budget. The Bank of England has taken on a wide range of new powers. Significant structural and cultural change is underway. Dr Carney will be responsible for overseeing it. In evidence to the Committee, Dr Carney set out his preference for a consensus-based approach to leadership; this will be significant if it leads to a meaningful change of culture within the Bank. The Committee wishes Dr Carney every success for his term as Governor. He will bring a wide range of skills and a great deal of experience to the role. Dr Carney's appearance before the Treasury Select Committee has set an important precedent. No previous Governor of the Bank of England has been subject to such a rigorous pre-commencement hearing. In future, they will be.

Budget 2013

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Publisher : The Stationery Office
ISBN 13 : 9780215057006
Total Pages : 200 pages
Book Rating : 4.0/5 (57 download)

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Book Synopsis Budget 2013 by : Great Britain: Parliament: House of Commons: Treasury Committee

Download or read book Budget 2013 written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2013-04-22 with total page 200 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Treasury Committee's report on Budget 2013 focuses on: macroeconomy; the public finances; monetary policy; taxation; departmental spending; housing; energy policy; premature disclosure of budget information; Parliamentary timing. The report contains 46 conclusions and recommendations. Particular attention is paid to the Help to Buy housing policy, which is considered a work in progress which may have unintended consequences and may not help first-time buyers. The Committee poses a number of questions for the Chancellor on the policy. Overall, if the Government's priority was housing supply, its housing measures should have concentrated there. On energy it is unclear which Government Department is in the lead for energy policy and this lack of clarity must be addressed. The changes to the monetary policy remit announced by the Chancellor at the time of Budget 2013 create uncertainty. Tax complexity and instability remain of considerable concern. The Committee will monitor whether the Government anti-avoidance measures succeed in generating the revenue predicted of them. In addition, the Committee invited comments from three accounting bodies on how Budget 2013 meets the Committee's tax policy principles: basic fairness; supporting growth and encouraging competition; certainty, including simplicity; stability; practicality; and coherence.

HC 811 - The Treasury Committee's Scrutiny of Appointments

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Author :
Publisher : The Stationery Office
ISBN 13 : 0215091264
Total Pages : 25 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 811 - The Treasury Committee's Scrutiny of Appointments by : Great Britain. Parliament. House of Commons. Treasury Committee

Download or read book HC 811 - The Treasury Committee's Scrutiny of Appointments written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2016-02-26 with total page 25 pages. Available in PDF, EPUB and Kindle. Book excerpt:

HC 1044 - Re-Appointment Of Dr Donald Kohn And Martin Taylor To The Financial Policy Committee

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Publisher : The Stationery Office
ISBN 13 : 0215081382
Total Pages : 20 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 1044 - Re-Appointment Of Dr Donald Kohn And Martin Taylor To The Financial Policy Committee by : Great Britain. Parliament. House of Commons. Treasury Committee

Download or read book HC 1044 - Re-Appointment Of Dr Donald Kohn And Martin Taylor To The Financial Policy Committee written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2015 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt:

HC 768 - Implementing the Recommendations of the Parliamentary Commission on Banking Standards

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Publisher : The Stationery Office
ISBN 13 : 0215078810
Total Pages : 86 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 768 - Implementing the Recommendations of the Parliamentary Commission on Banking Standards by : Great Britain. Parliament. House of Commons. Treasury Committee

Download or read book HC 768 - Implementing the Recommendations of the Parliamentary Commission on Banking Standards written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2014 with total page 86 pages. Available in PDF, EPUB and Kindle. Book excerpt:

HC 891 - The UK's EU Budget Contributions

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Publisher : The Stationery Office
ISBN 13 : 0215081714
Total Pages : 24 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 891 - The UK's EU Budget Contributions by : Great Britain. Parliament. House of Commons. Treasury Committee

Download or read book HC 891 - The UK's EU Budget Contributions written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2015 with total page 24 pages. Available in PDF, EPUB and Kindle. Book excerpt: On 17 October 2014, the European Commission informed HM Treasury that the UK would have to make an additional contribution to the EU budget of approximately 2.1 billion euro. This additional contribution had been prompted by revisions to EU Member States' historic Gross National Income (GNI) data, dating back to 1995. Member States make several annual contributions to the EU budget, by far the most significant being a levy on GNI. This levy is charged as a percentage rate on Member States' annual GNI, with the rate set at a level designed to cover exactly the portion of the EU Budget which remains unfunded once the other sources of income - namely Traditional Own Resources' and VAT-based resources - have been taken into account. The result is that an individual Member State contributes to this portion of the budget in proportion to its share of total GNI across all Member States. In 2013, GNI-based contributions amounted to 74 per cent of the EU's total budget. Emerging from the ECOFIN summit of 7 November 2014, the Chancellor claimed to have "halved the bill" of £1.7 billion demanded by the EU. He later described this as the result of "hard-fought negotiation" with the Commission to ensure that the consequential change to the UK's rebate would apply. The calculation of the rebate, and the circumstances in which it applies, are embedded in EU law. This is set out in detail in Council Decision 2007/436/EC and the supporting Council document on the UK correction. These documents establish the precise method for calculating the rebate. On the basis of the evidence the Committee has seen, it should have been unambiguously clear to the Treasury, well in advance of ECOFIN on 7 November 2014, that the UK was entitled to a rebate on any additional budget contributions that could arise from the GNI revisions.

HC 204 - Conduct and Competition in SME Lending

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Author :
Publisher : The Stationery Office
ISBN 13 : 0215084101
Total Pages : 117 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 204 - Conduct and Competition in SME Lending by : Great Britain. Parliament. House of Commons. Treasury Committee

Download or read book HC 204 - Conduct and Competition in SME Lending written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2015-03-16 with total page 117 pages. Available in PDF, EPUB and Kindle. Book excerpt: Small and medium sized enterprises (SMEs) form a large part of the UK economy. According to official statistics, there were 5.243 million private sector businesses at the start of 2014. 5.236 million had 0-250 employees and are classed as SMEs, of which 5.204 million had fewer than 50 employees and are classed as small businesses. SMEs account for 60 per cent of all private sector employment, and registered an annual turnover of £1.6 trillion at the start of 2014-47 per cent of the private sector total. A large majority of SMEs are sole traders-76% of all businesses are non-employers. The Government believes that access to finance for SMEs is 'key to the recovery and long term growth of the economy'. Research by National Endowment for Science, Technology and the Arts (NESTA) in 2009 found that the '6 per cent of UK businesses generated half of the new jobs created by existing businesses between 2002 and 2008. This report offers a number conclusions and recommendations covering: the state of the SME lending market; RBS Global Restructuring Group (GRG); mis-sale of Hedging Products; and alternative finance

HC 881 - Press Briefing of the FCA's Business Plan for 2014/15

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Publisher : The Stationery Office
ISBN 13 : 0215084357
Total Pages : 87 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 881 - Press Briefing of the FCA's Business Plan for 2014/15 by : Great Britain. Parliament. House of Commons. Treasury Committee

Download or read book HC 881 - Press Briefing of the FCA's Business Plan for 2014/15 written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2015-03-27 with total page 87 pages. Available in PDF, EPUB and Kindle. Book excerpt: On the evening of 27 March 2014, the Daily Telegraph published an article on its website describing a forthcoming thematic review by the Financial Conduct Authority (FCA) into the life insurance market. The same story appeared in the print edition of the Telegraph the following day. The story, based on an advance briefing given by the FCA to the Telegraph earlier that week, gave a misleading impression of the scope of the life insurance review, and was published before the FCA had made any official announcement of its own. When the markets opened on 28 March, the share prices of several leading life insurers began to fall heavily. Only when the FCA published a clarifying statement about the scope of the review - several hours later that day - did share prices begin to recover. On the day following the publication of the Telegraph article, the Chairman of this Committee called for a "full and transparent explanation about how such an apparently serious mistake came to be made by our financial services watchdog--the body appointed by Parliament to enforce high standards of conduct". Simon Davis, Partner at Clifford Chance LLP, was subsequently appointed to conduct an investigation, and reported his findings in December 2014. The Committee records its thanks to Mr Davis for undertaking this work and for the evidence he gave to it.

HC 870 - Autumn Statement 2014

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Publisher : The Stationery Office
ISBN 13 : 0215081536
Total Pages : 88 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 870 - Autumn Statement 2014 by : Great Britain. Parliament. House of Commons. Treasury Committee

Download or read book HC 870 - Autumn Statement 2014 written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2015 with total page 88 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Treasury has again been unable to provide all the information needed by deadlines agreed with the OBR. The Government may, as the Chairman of the Office for Budget Responsibility suggested, have decided that for political reasons this was a "price worth paying." This would set an undesirable precedent. The work of the Office for Budget Responsibility depends on the Treasury meeting the agreed deadlines. The Committee welcomes the OBR's innovation of providing uncertainty ratings for policy costings. The Committee recommends in future that the OBR publish a breakdown of the uncertainty rating assessment against the three criteria for all announced measures at Autumn Statements and Budgets. The Committee also welcomes the Government's continued publication of the distributional analysis of the Government's policy changes and recommends that the next Government continue with this important aid to transparency. The current inflation target set by the Government is symmetrical, and is 2 per cent at all times. Several witnesses alluded to the risks of very low inflation and subsequent deflation, including the Chancellor. The Chancellor has publicly welcomed the current level of inflation. This is not likely to help anchor inflationary expectations. The Governor of the Bank of England is required to write to explain to the Chancellor why inflation has fallen below 1 per cent. It is important to avoid mixed messages on inflation targeting. The Bank of England should undertake research on the effect of net migration, and the potential for future net migration, on the supply of labour and wage growth as part of the work on meeting the MPC's remit. The Treasury should ensure that discussions within Government on immigration policy fully consider the requirements of the economy.

HC 728-II - Project Verde: Volume II

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Author :
Publisher : The Stationery Office
ISBN 13 : 0215078454
Total Pages : 240 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 728-II - Project Verde: Volume II by : Great Britain. Parliament. House of Commons. Treasury Committee

Download or read book HC 728-II - Project Verde: Volume II written by Great Britain. Parliament. House of Commons. Treasury Committee and published by The Stationery Office. This book was released on 2014 with total page 240 pages. Available in PDF, EPUB and Kindle. Book excerpt: One of the most significant consequences of Co-op Bank's near-collapse, from a public policy perspective, was the collapse of Lloyds Banking Group's planned divestment under Project Verde. Co-op Bank's withdrawal forced Lloyds to resort to its fallback option of an Initial Public Offering. The result is a new bank, TSB, which, not having an existing banking presence of its own, consists solely of the business divested by Lloyds. Accordingly, it has a personal current account market share not of 7 per cent, but of 4.2 per cent. There is a risk that a bank of this size might struggle to grow significantly and to act as a true challenger in the market. Had Co-op Bank's resulting capital shortfall been uncovered earlier, it is likely that the bank would not have progressed so far with Verde. As it was, the rapid and late emergence of the capital problem led to Co-op's withdrawal from the Verde process at a relatively late stage. The Committee recommends that the FRC investigation and the independent inquiry into the events at Co-op Bank consider the role of KPMG and the FSA in relation to the late emergence of loan impairment and IT losses. On the basis of these findings, the independent inquiry into the events at Co-op Bank should also form a view on whether Co-op's Verde bid could or should have been halted sooner. While it may not have been fully transparent from the start that Co-op Bank's bid was doomed to failure, it was beset by problems from an early stage. But it was not these problems that killed the deal-it was the capital shortfall that emerged only late in the day. It is important, from every angle to determine why the capital shortfall was not uncovered earlier.

House of Commons - Treasury Committee: Appointment of Sir Jon Cunliffe as Deputy Governmor of the Bank of England - HC 689-I

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Publisher : The Stationery Office
ISBN 13 : 9780215062819
Total Pages : 16 pages
Book Rating : 4.0/5 (628 download)

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Book Synopsis House of Commons - Treasury Committee: Appointment of Sir Jon Cunliffe as Deputy Governmor of the Bank of England - HC 689-I by : Great Britain: Parliament: House of Commons: Treasury Committee

Download or read book House of Commons - Treasury Committee: Appointment of Sir Jon Cunliffe as Deputy Governmor of the Bank of England - HC 689-I written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2013-10-18 with total page 16 pages. Available in PDF, EPUB and Kindle. Book excerpt: Volume 2: Oral evidence. Written evidence can be found on the Committee's website at www.parliament.uk/treascom

The Oxford Handbook of Financial Regulation

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Publisher : OUP Oxford
ISBN 13 : 0191510874
Total Pages : 900 pages
Book Rating : 4.1/5 (915 download)

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Book Synopsis The Oxford Handbook of Financial Regulation by : Niamh Moloney

Download or read book The Oxford Handbook of Financial Regulation written by Niamh Moloney and published by OUP Oxford. This book was released on 2015-08-27 with total page 900 pages. Available in PDF, EPUB and Kindle. Book excerpt: The financial system and its regulation have undergone exponential growth and dramatic reform over the last thirty years. This period has witnessed major developments in the nature and intensity of financial markets, as well as repeated cycles of regulatory reform and development, often linked to crisis conditions. The recent financial crisis has led to unparalleled interest in financial regulation from policymakers, economists, legal practitioners, and the academic community, and has prompted large-scale regulatory reform. The Oxford Handbook of Financial Regulation is the first comprehensive, authoritative, and state of the art account of the nature of financial regulation. Written by an international team of leading scholars in the field, it takes a contextual and comparative approach to examine scholarly, policy, and regulatory developments in the past three decades. The first three parts of the Handbook address the underpinning horizontal themes which arise in financial regulation: financial systems and regulation; the organization of financial system regulation, including regional examples from the EU and the US; and the delivery of outcomes and regulatory techniques. The final three Parts address the perennial objectives of financial regulation, widely regarded as the anchors of financial regulation internationally: financial stability, market efficiency, integrity, and transparency; and consumer protection. The Oxford Handbook of Financial Regulation is an invaluable resource for scholars and students of financial regulation, economists, policy-makers and regulators.

House of Commons: Sessional Returns - HC 1

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Publisher : The Stationery Office
ISBN 13 : 9780215062277
Total Pages : 350 pages
Book Rating : 4.0/5 (622 download)

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Book Synopsis House of Commons: Sessional Returns - HC 1 by : Great Britain: Parliament: House of Commons

Download or read book House of Commons: Sessional Returns - HC 1 written by Great Britain: Parliament: House of Commons and published by The Stationery Office. This book was released on 2013-09-13 with total page 350 pages. Available in PDF, EPUB and Kindle. Book excerpt: On cover and title page: House, committees of the whole House, general committees and select committees. On title page: Returns to orders of the House of Commons dated 14 May 2013 (the Chairman of Ways and Means)

The Institutional Structure of Macroprudential Policy in the UK

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Author :
Publisher : Springer Nature
ISBN 13 : 3031335767
Total Pages : 198 pages
Book Rating : 4.0/5 (313 download)

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Book Synopsis The Institutional Structure of Macroprudential Policy in the UK by : Kosmas Kaprinis

Download or read book The Institutional Structure of Macroprudential Policy in the UK written by Kosmas Kaprinis and published by Springer Nature. This book was released on 2023-06-28 with total page 198 pages. Available in PDF, EPUB and Kindle. Book excerpt: Macroprudential policy (MPP) has been one of the major initiatives in the post-2008 crisis restructuring of financial regulation. Under the macroprudential mandate, the regulator monitors and judiciously controls systemic risk in the financial system, in an attempt to minimise the probability and severity of a future financial crisis. The book reveals why MPP authorities are rightfully at the centre of a highly sensitive policy debate, as MPP necessitates the allocation of significant regulatory power to technocrats, while the highly technical nature of MPP makes policy evaluation challenging. Specific issues examined include: the importance of financial stability as a public policy goal; the political economy issues stemming from the delegation of MPP to an independent authority; and the definition of accountability in the context of MPP. Focusing on a case study on the Financial Policy Committee of the Bank of England, the macroprudential authority in the UK, the book develops the normative grounds to justify the need for accountability in the conduct of MPP, while also formulating the necessary institutional framework to ensure the accountability of MPP authorities.

HC 1189 - Budget 2014

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Publisher : The Stationery Office
ISBN 13 : 0215071999
Total Pages : 126 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 1189 - Budget 2014 by : Great Britain: Parliament: House of Commons: Treasury Committee

Download or read book HC 1189 - Budget 2014 written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2014-05-09 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this report the Treasury Committee makes recommendations on pensions, savings, HMRC debt recovery powers and housing. The greater flexibility and choice provided by the proposed pension reforms is welcomed. The 'guidance guarantee' is an important part of making sure that consumers benefit from increased choice. It should be measured against a set of recommended principles to ensure its effectiveness. The pensions reforms are also likely to lead to financial innovation. Following the financial crisis, and the mis-selling scandals, the reputation of the industry is under scrutiny. With regard to savings - double taxation has long been a deterrent to some forms of saving. With the enhanced flexibility for those saving there may now be scope in the long term for bringing the tax treatment of savings and pensions together to create a 'single savings' vehicle. The proposal to grant the power to HMRC to take money directly from people's bank accounts is extremely concerning. Exceptional powers such as this require prior independent oversight. With regard to housing, the Help to Buy scheme, at least in the short-to-medium term, could raise house prices. There is also the risk that withdrawal of Help to Buy may have a distorting effect on the housing market. The need to address these difficulties places a particular responsibility on the FPC, as well as the Government, for detecting and addressing the financial stability risks arising from the housing market. There are also reservations about any extension of retrospection in the tax system. Retrospection should be considered only in wholly exceptional circumstances

HC 97 - Private Finance 2

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Publisher : The Stationery Office
ISBN 13 : 0215072901
Total Pages : 84 pages
Book Rating : 4.2/5 (15 download)

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Book Synopsis HC 97 - Private Finance 2 by : Great Britain: Parliament: House of Commons: Treasury Committee

Download or read book HC 97 - Private Finance 2 written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2014-06-09 with total page 84 pages. Available in PDF, EPUB and Kindle. Book excerpt: Written evidence is contained in Volume 2, available on the Committee website at www.parliament.uk/treascom

House of Commons - Treasury Committee: Money Advice Service - HC 457

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Author :
Publisher : The Stationery Office
ISBN 13 : 9780215064738
Total Pages : 126 pages
Book Rating : 4.0/5 (647 download)

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Book Synopsis House of Commons - Treasury Committee: Money Advice Service - HC 457 by : Great Britain: Parliament: House of Commons: Treasury Committee

Download or read book House of Commons - Treasury Committee: Money Advice Service - HC 457 written by Great Britain: Parliament: House of Commons: Treasury Committee and published by The Stationery Office. This book was released on 2013-12-03 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Money Advice Service is not currently fit for purpose. The Committee considered whether to recommend that the MAS be scrapped completely but given that the Treasury had already announced its intention to conduct a review of the MAS they granted a stay of execution. They asked the Government to expedite this review and recommended that it should be independent, rather than led by the Treasury. The review must assess whether the MAS should continue to exist and, if so, how it can overcome the serious problems discussed. The current management of the MAS should also explain how they are going to act on the concerns identified. The independent review should seek to answer the following questions: Should the Money Advice Service-or something like it-exist as a statutory organisation? If so, what should the role and strategy of such a body be? Should it be a co-ordinator, commissioner or direct provider of advice? What channels should it use? If not, should the FCA take responsibility for the objectives of the Service? Does the FCA need greater statutory powers to hold the Money Advice Service to account? What are the views of other bodies in this sector about the way in which the Money Advice Service is now engaging with them? To what extent does the work of the Money Advice Service unnecessarily duplicate existing provision? What should the role of the Service be in each of the areas in which it operates? Is the remuneration of the Service's senior staff set at an appropriate level?