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The Latest Breaking News from Harriett Baldwin

Big banks offering ‘measly’ savings rates to loyal customers, say MPs

The Treasury Committee found that a ‘loyalty penalty’ was especially prominent for elderly and vulnerable customers.

The Independent UK

UK’s biggest banks urged to increase ‘measly’ savings rates

MPs question why some savers are receiving only 0.25% despite 12 consecutive Bank of England interest rate rises

The Guardian - UK

Treating cryptocurrencies as gambling would be 'a backwards step'

A government committee report has proposed new regulation for the nascent industry

Insider UK

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Cryptocurrency trading should be regulated as gambling, says Treasury Committee

Unbacked cryptoassets pose significant risks to consumers, given their price volatility and the risk of losses, the committee said.

The Independent UK

Treasury Committee expands campaign to encourage banks to boost savings rates

The Treasury Committee said it has written to Nationwide Building Society, Santander, TSB and Virgin Money about their easy access savings accounts.

The Independent UK

Regulator warns UK banks over miserly savings rates for loyal customers

FCA says it will consider ‘onerous interventions’ if it concludes ‘loyalty penalty harms’ not being addressed

The Guardian - UK

‘Harm to loyal savers will have increased with interest rate rises’

Financial Conduct Authority chief executive Nikhil Rathi was responding to the Treasury Committee, which has been looking into savings rates.

The Independent UK

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Cash savings rates have improved but still cannot beat inflation, says website

Savers coming off a one-year fixed bond or Isa will notice that the equivalent rates are now much higher, according to Moneyfactscompare.co.uk.

The Independent UK

Proposals to reimburse scam victims are half-baked, says Treasury Committee

Treasury Committee chair Harriett Baldwin said regulators need to sort out exclusions and criteria quickly.

The Independent UK

Banking giants asked to explain why some savings rates remain so low

The Treasury Committee is asking major banks for a breakdown of the revenue and profits generated from their savings products.

The Independent UK

Clunky systems hindering more frequent cost-of-living support, says committee

The Treasury Committee previously called for cost-of-living payments to people on means-tested benefits to be spread out over next winter.

The Independent UK

'Clunky' systems mean hard-up families miss out on monthly cost-of-living cash

Tory MP Harriett Baldwin, chair of the Treasury Committee, said it is "disappointing to hear that clunky systems will prevent the delivery of six regular support payments next winter"

Daily Mirror

Plans to reimburse bank transfer scam victims are ‘fundamentally flawed’, Treasury Committee warns

‘Putting an industry body in charge of reimbursing scam victims is like asking a fox to guard the henhouse’

The Independent UK

Plans to reimburse bank transfer scam victims are flawed – Treasury Committee

Victims of fraud have been waiting too long for a fair and functional scam reimbursement scheme, MPs said.

The Independent UK

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The Independent UK

Average 27-minute wait on HMRC self-assessment helpline in January

In December, the average waiting time was 28 minutes, according to a letter to the Treasury Committee from HMRC chief executive Jim Harra,

Evening Standard

Scramble to save London’s place in the art world after Brexit

Paris will soon replace London as the art capital of Europe, warns art fair founder

The Guardian - UK

Baby steps as relaunched Rish! is sent out in front of soft crowd

Tour optimistically called PMConnect starts with visit to Morecambe, just given £50m grant

Evening Standard

Rishi Sunak refuses to rule out 12p-a-litre fuel hike in March

The PM said a decision will be revealed in the Chancellor’s Budget on March 15

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Daily Mirror

Fuel duty could soar by 12p a litre after Rishi Sunak refuses to rule out hike

The Prime Minister was repeatedly pressed on whether a planned rise in pump prices, due in late March, would go ahead as families battle the cost of living crisis

The Guardian - UK

Jeremy Hunt refuses to deny briefing that government wants Swiss-style ties with EU

Chancellor says he or Treasury was not source of alleged briefing and he did not support ‘moving away’ from Brexit agreement

The Independent UK

Watch live: Chancellor delivers his autumn statement

All eyes are on Jeremy Hunt, who promises a plan to weather an economic ‘storm’.

The Guardian - UK

Jeremy Hunt expected to increase number of Britons paying top tax rate

Move to lower threshold from £150,000 would be in line with Hunt’s vow that tax rises should hit ‘broadest shoulders’

The Guardian - UK

Worcester owners hit back at local MPs amid threat of automatic relegation

Four local MPs had urged the government to put the Premiership club into administration as it sought new investors but this would lead to relegation

The Independent UK

Boris Johnson: clearly insane to use disposable BBQ on dry grass

The exchange followed another Tory MP’s call for a ban on flying lanterns.

Daily Mirror

Arrest Vladimir Putin for war crimes if he goes to G20 summit, top Tory urges

Former Foreign Office Minister Harriett Baldwin says Russian President Vladimir Putin should be detained if he turns up at the G20 in Bali in November

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