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1300073

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Age
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, for what reason the Government plans to raise the private pension age.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	164592
answer	answer is ministerial correction date of answer 11/03/2021 answer text <p>The normal minimum pension age is the minimum age at which most pension savers can access their pensions without incurring an unauthorised payments tax charge (unless they are retiring due to ill-health). The normal minimum pension age was set at 50 in 2006 when it was introduced and since then, life expectancy at birth for both men and women increased significantly. According to the latest data from the Office for National Statistics, life expectancy has also continued to increase since 2014, when the Coalition Government announced it would increase the normal minimum pension age from 55 to 57 in 2028.</p><p> </p><p>Increasing the normal minimum pension age reflects increases in longevity and changing expectations of how long individuals will remain in work and in retirement. Raising the normal minimum pension age to age 57 keeps it around 10 years behind state pension age, and could encourage individuals to save longer for their retirement, and so help ensure that individuals will have financial security in later life.</p><p> </p><p>In 2014 the Coalition Government announced that the normal minimum pension age would increase from age 55 to 57 in 2028, following a consultation on the appropriate normal minimum pension age for individuals to access their private pensions without incurring an unauthorised payments tax charge. On 11 February the Government published a consultation on the appropriate protection regime for individuals who have unqualified rights to access their pension before the minimum age. The consultation is open until 22 April 2021. The normal minimum pension age increase will not apply to the public service pension schemes for firefighters, police and the armed forces.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 164593 question first answered 11/03/2021 10:08:55 answering member 4051 label Biography information for John Glen
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1300074

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Age
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of lowering the private pension age.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	164593
answer	answer is ministerial correction date of answer 11/03/2021 answer text <p>The normal minimum pension age is the minimum age at which most pension savers can access their pensions without incurring an unauthorised payments tax charge (unless they are retiring due to ill-health). The normal minimum pension age was set at 50 in 2006 when it was introduced and since then, life expectancy at birth for both men and women increased significantly. According to the latest data from the Office for National Statistics, life expectancy has also continued to increase since 2014, when the Coalition Government announced it would increase the normal minimum pension age from 55 to 57 in 2028.</p><p> </p><p>Increasing the normal minimum pension age reflects increases in longevity and changing expectations of how long individuals will remain in work and in retirement. Raising the normal minimum pension age to age 57 keeps it around 10 years behind state pension age, and could encourage individuals to save longer for their retirement, and so help ensure that individuals will have financial security in later life.</p><p> </p><p>In 2014 the Coalition Government announced that the normal minimum pension age would increase from age 55 to 57 in 2028, following a consultation on the appropriate normal minimum pension age for individuals to access their private pensions without incurring an unauthorised payments tax charge. On 11 February the Government published a consultation on the appropriate protection regime for individuals who have unqualified rights to access their pension before the minimum age. The consultation is open until 22 April 2021. The normal minimum pension age increase will not apply to the public service pension schemes for firefighters, police and the armed forces.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 164592 question first answered 11/03/2021 10:08:55 answering member 4051 label Biography information for John Glen
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1300085

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Transport: Environment Protection
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 environmental impact of freezing fuel duty while raising rail fares above the level of inflation.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	164604
answer	answer is ministerial correction date of answer 11/03/2021 answer text <p>Households spend a significant amount of their total spending on transport fuels, and fuel costs are a factor in helping the competitiveness of British businesses. These are particularly important considerations in light of the ongoing COVID-19 pandemic with households moving away from public transport towards using their own vehicles to avoid furthering the virus’ spread. As set out at the Budget, future fuel duty rates will be considered in the context of the UK’s commitment to reach net-zero emissions by 2050.</p><p> </p><p>The government is taking action to reduce carbon dioxide emissions and improve air quality through Vehicle Excise Duty and the Company Car Tax system. As announced in the Ten Point Plan, the UK will end the sale of new petrol and diesel cars and vans by 2030, ten years earlier than planned. The transition away from petrol and diesel cars and vans will make a vital contribution to meeting our Net Zero commitment.</p><p> </p><p>Rail fares increased by 1% above inflation (2.6%) on 1 March 2021 – this is the lowest actual increase in four years. A small rise is necessary to ensure crucial investment in our railways. The government temporarily froze fares, enabling passengers to purchase tickets at a lower price until 28 February. Passenger demand has fallen dramatically over the last year and its recovery is uncertain. The government will continue to work closely with industry on initiatives to support demand and revenue recovery when the time is right, including actively working with train operators to develop a solution that offers better value and convenience for those who commute flexibly.</p><p> </p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 11/03/2021 08:53:02 answering member 4597 label Biography information for Kemi Badenoch
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1300112

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Broadband: Capital Allowances
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether investment in the laying of fibre cables as part of the UK's broadband rollout will qualify for the Super Deduction on capital expenditure announced in Budget 2021.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	164465
answer	answer is ministerial correction date of answer 11/03/2021 answer text <p>Budget 2021 announced that from 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will benefit from both the 130% super-deduction and a 50% first-year capital allowance.</p><p> </p><p>Expenditure on qualifying plant and machinery capital investments used by a company in the course of a trade can qualify for the relevant first-year allowance, including fibre cables. Software can also qualify for the super-deduction, provided the company makes an election to remove software from the intangible fixed assets regime. Expenditure on the learning and development of staff does not qualify for the super-deduction but is already an allowable expense for tax purposes.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 164468 question first answered 11/03/2021 14:34:39 answering member 3991 label Biography information for Jesse Norman
tabling member	4124 label Biography information for Chi Onwurah

1300119

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Capital Allowances
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 potential effect of the Super Deduction capital allowance introduced in Budget 2021 on investment in people and skills.
tabling member constituency	Newcastle upon Tyne Central
tabling member printed	Chi Onwurah
uin	164468
answer	answer is ministerial correction date of answer 11/03/2021 answer text <p>Budget 2021 announced that from 1 April 2021 until 31 March 2023, companies investing in qualifying new plant and machinery assets will benefit from both the 130% super-deduction and a 50% first-year capital allowance.</p><p> </p><p>Expenditure on qualifying plant and machinery capital investments used by a company in the course of a trade can qualify for the relevant first-year allowance, including fibre cables. Software can also qualify for the super-deduction, provided the company makes an election to remove software from the intangible fixed assets regime. Expenditure on the learning and development of staff does not qualify for the super-deduction but is already an allowable expense for tax purposes.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman grouped question UIN 164465 question first answered 11/03/2021 14:34:39 answering member 3991 label Biography information for Jesse Norman
tabling member	4124 label Biography information for Chi Onwurah

1300136

registered interest
date	08/03/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Levelling Up Fund and UK Community Renewal Fund
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he had sight of the lists of areas for priority funding from the (a) Levelling Up Fund and (b) UK Community Renewal Fund prior to the publication of those lists.
tabling member constituency	Croydon North
tabling member printed	Steve Reed
uin	164492
answer	answer is ministerial correction date of answer 12/03/2021 answer text <p>On the Levelling Up Fund, Ministers approved metrics at the design stage based on alignment with the policy goals of the Fund. Ministers did not see a list of specific places before agreeing the list of metrics. At no point did Ministers make changes to the index, weightings or metrics recommended by officials.</p><p>On the Community Renewal Fund, the design of the fund, including the allocation process was led by the Ministry of Housing, Communities and Local Government.</p> answering member constituency Saffron Walden answering member printed Kemi Badenoch question first answered 12/03/2021 14:37:10 answering member 4597 label Biography information for Kemi Badenoch
tabling member	4268 label Biography information for Steve Reed

1290184

registered interest
date	25/02/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax: Tax Rates and Bands
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government what assessment they have made of the impact of 10 years' of reduction in the corporation tax rate on (1) economic growth, (2) productivity, (3) innovation, and (4) employment.
tabling member printed	Lord Myners
uin	HL13711
answer	answer is ministerial correction date of answer 09/03/2021 answer text <p>The economic impacts of reductions in the rate of Corporation Tax since 2010 have been reflected in the OBR’s forecasts, and detailed in the OBR’s published Economic and Fiscal Outlooks as the rate had been reduced.</p> answering member printed Lord Agnew of Oulton question first answered 09/03/2021 15:14:14 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	3869 label Biography information for Lord Myners