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1147925

registered interest
date	02/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector: Redundancy Pay
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of the effect of the inclusion of pension strain within the £95,000 cap on public sector exit payments on long-serving public servants on low to middle salaries.
tabling member constituency	Birmingham, Selly Oak
tabling member printed	Steve McCabe
uin	293443
answer	answer is ministerial correction date of answer 07/10/2019 answer text <p>The government was clear during the passage of the primary legislation that the cap will have no impact on the majority of public sector workers. We do however accept that there will be some circumstances where it is necessary or desirable to relax the cap. As such, a waiver system is in place for use in exceptional situations, including where imposing the cap would cause genuine hardship.</p><p> </p><p>An impact assessment was conducted and published in the 2016 consultation ahead of the primary legislation. This impact assessment took the inclusion of pension strain into account and can be found <a href="https://www.gov.uk/government/consultations/consultation-on-a-public-sector-exit-payment-cap/consultation-on-a-public-sector-exit-payment-cap#impact-analysis" target="_blank">here</a>. A further equalities assessment will be conducted on the final version of the regulations. The government is currently considering responses to the consultation on the draft regulations to implement the public sector exit payment cap and will respond to the consultation in due course.</p><p> </p><p>The government believes it is right to include all payments related to exit within the cap. The cap does not affect any pension that a person has earned through their years of service or have any impact on accrued pension rights. The cap ensures additional contribution to that pension made by the employer to fund early access to a pension is limited to no more than £95,000, on account these costs are ultimately funded by the taxpayer.</p> answering member constituency Richmond (Yorks) answering member printed Rishi Sunak question first answered 07/10/2019 10:03:10 answering member 4483 label Biography information for Rishi Sunak
tabling member	298 label Biography information for Steve McCabe

1147951

registered interest
date	02/10/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what criteria his Department has set for businesses which wish to apply for the bailout fund created by Operation Kingfisher.
tabling member constituency	Liverpool, Wavertree
tabling member printed	Luciana Berger
uin	293534
answer	answer is ministerial correction date of answer 07/10/2019 answer text <p>The first port of call for a business facing cashflow issues should be commercial lending. As the Bank of England have said, UK banks are well-prepared, well-capitalised, and publicly committed to continuing to lend to viable businesses.</p><p> </p><p>Overall, the government has already made over £6.3bn available to prepare for EU exit. This includes £2 billion of core funding for departments for Brexit in 2020-21, which was confirmed in the recent Spending Round.</p><p> </p><p>The UK economy remains resilient, but we will continue to closely monitor any developments in economic risks to firms, sectors, and regions. We are considering what further support may be needed and any announcements will be made in due course.</p> answering member constituency Richmond (Yorks) answering member printed Rishi Sunak question first answered 07/10/2019 09:59:43 answering member 4483 label Biography information for Rishi Sunak
tabling member	4036 label Biography information for Luciana Berger