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1360635

registered interest
date	19/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Financial Services: Technology
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 merits of the proposal to establish a Global Centre for Secure and Intelligent Regulatory Technologies in Northern Ireland.
tabling member constituency	Belfast South
tabling member printed	Claire Hanna
uin	58552
answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>The government is committed to maintaining the UK’s position a world-leading destination for fintech.</p><p> </p><p>In line with this ambition, the Government is taking forward key recommendations of the independent Kalifa Review of UK Fintech as part of ensuring the UK remains at the global cutting edge of technology and innovation in financial services.</p><p> </p><p>Government funding for future years will be confirmed as part of the Spending Review which will be announced on 27th October.</p> answering member constituency Salisbury answering member printed John Glen question first answered 25/10/2021 13:59:13 answering member 4051 label Biography information for John Glen
tabling member	4827 label Biography information for Claire Hanna

1360631

registered interest
date	18/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	UK Internal Trade
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will publish guidance on the requirement of logistics businesses delivering goods from Great Britain to Northern Ireland to provide statistical returns specifying which goods are being transported.
tabling member constituency	Belfast South
tabling member printed	Claire Hanna
uin	58550
answer	answer is ministerial correction date of answer 26/10/2021 answer text <p>The UK Government and the EU have shared proposals with each other in relation to the Northern Ireland Protocol and are currently in intensive talks. As none of the reported changes or documents published by either party on the Protocol have yet been agreed, existing arrangements will continue for now. This includes some easements for specific businesses and trade sectors. We have published guidance on these existing arrangements and will update this guidance in due course and give operators time to prepare for any changes.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer question first answered 26/10/2021 14:46:18 answering member 4517 label Biography information for Lucy Frazer
tabling member	4827 label Biography information for Claire Hanna

1360638

registered interest
date	18/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Pensions: Taxation
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 merits of amending legislation on pension commencement lump sums in order to allow for the option of a minimum regular monetary sum as tax free, as an alternative to the 25 per cent tax free portion of the total pension pot.
tabling member constituency	Kirkcaldy and Cowdenbeath
tabling member printed	Neale Hanvey
uin	58531
answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>The Government keeps all aspects of the tax system under review, as part of the annual Budget process, and in the context of the wider public finances. In 2015, pension freedoms were introduced to give individuals the choice as to how to access their own pension savings including full pot withdrawal, purchasing an annuity, flexi-access drawdown or taking an uncrystallised funds pension lump sum. In the five years since pension freedoms were introduced, over £45bn has been accessed by over 1.8 million individuals. The Government believes it is right that individuals are trusted to choose how to access their pension income and provides a range of options for them to do so.</p> answering member constituency Salisbury answering member printed John Glen question first answered 25/10/2021 13:49:50 answering member 4051 label Biography information for John Glen
tabling member	4782 label Biography information for Neale Hanvey

1360671

registered interest
date	18/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Schools: Uniforms
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 economic merits for families of abolishing the VAT on school-specific uniform items; and if he will make a statement.
tabling member constituency	Linlithgow and East Falkirk
tabling member printed	Martyn Day
uin	58453
answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>Under the current VAT rules, all children’s clothing and footwear designed for young children who are less than 14 years of age, including school uniforms, attract a zero-rate of VAT, meaning that no VAT is charged on the sale of these items.</p><p> </p><p>The Department for Education plans to publish statutory guidance in Autumn 2021, which will aim to ensure that parents do not incur additional costs from sudden uniform changes.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately grouped question UIN 58454 58455 question first answered 25/10/2021 08:04:29 answering member 4527 label Biography information for Helen Whately
tabling member	4488 label Biography information for Martyn Day

1360673

registered interest
date	18/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Schools: Uniforms
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what his Department's policy is on abolishing VAT applied to school-specific uniform items.
tabling member constituency	Linlithgow and East Falkirk
tabling member printed	Martyn Day
uin	58454
answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>Under the current VAT rules, all children’s clothing and footwear designed for young children who are less than 14 years of age, including school uniforms, attract a zero-rate of VAT, meaning that no VAT is charged on the sale of these items.</p><p> </p><p>The Department for Education plans to publish statutory guidance in Autumn 2021, which will aim to ensure that parents do not incur additional costs from sudden uniform changes.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately grouped question UIN 58453 58455 question first answered 25/10/2021 08:04:29 answering member 4527 label Biography information for Helen Whately
tabling member	4488 label Biography information for Martyn Day

1360674

registered interest
date	18/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Schools: Uniforms
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential impact of abolishing the VAT on school-specific uniform items on families, particularly those on lower incomes.
tabling member constituency	Linlithgow and East Falkirk
tabling member printed	Martyn Day
uin	58455
answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>Under the current VAT rules, all children’s clothing and footwear designed for young children who are less than 14 years of age, including school uniforms, attract a zero-rate of VAT, meaning that no VAT is charged on the sale of these items.</p><p> </p><p>The Department for Education plans to publish statutory guidance in Autumn 2021, which will aim to ensure that parents do not incur additional costs from sudden uniform changes.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately grouped question UIN 58453 58454 question first answered 25/10/2021 08:04:29 answering member 4527 label Biography information for Helen Whately
tabling member	4488 label Biography information for Martyn Day

1360799

registered interest
date	18/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assurances he has sought from lenders of the (a) Coronavirus Business Interruption Loan Scheme and (b) Bounce Back Loan Scheme that they are being flexible in assisting borrowers in restructuring and refinancing their debt to avoid default.
tabling member constituency	Midlothian
tabling member printed	Owen Thompson
uin	58439
answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>Any business concerned about repayments should get in touch with their lender who will be able to provide support and talk them through their options.</p><p> </p><p>In order to give businesses who have borrowed under the Bounce Back Loan Scheme further support in making their repayments, the Government announced “Pay as You Grow” (PAYG) options. PAYG will give businesses the option to repay their Bounce Back Loan over ten years. This will reduce their average monthly repayments on the loan by almost half. Businesses will also have the option to move temporarily to interest-only payments for periods of up to six months (an option which they can use up to three times). They can also pause their repayments entirely for up to six months. If borrowers want to take advantage of these options, they should notify their lender when they are contacted about their repayments.</p><p> </p><p>For those who borrowed under the Coronavirus Business Interruption Loan Scheme (CBILS), the Government has taken action to allow lenders to provide borrowers with more time to make their repayments where they assess that borrowers are in difficulty and will benefit from the extension. Given loans under CBILS are more varied than the standardised BBLS and resemble more traditional commercial lending, CBILS borrowers are likely to benefit from engagement with their lender if they have concerns about repayments. Lenders have an ongoing relationship with CBILS borrowers and will be best placed to provide support tailored to an individual business’s circumstance.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 58444 question first answered 25/10/2021 13:59:07 answering member 4051 label Biography information for John Glen
tabling member	4482 label Biography information for Owen Thompson

1360804

registered interest
date	18/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Business: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has made a recent assessment of the main cashflow challenges affecting businesses.
tabling member constituency	Midlothian
tabling member printed	Owen Thompson
uin	58443
answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>The Covid-19 pandemic left many businesses in the UK and elsewhere facing sharp revenue falls in the absence of support. Due to the unprecedented support package put in place by HM Government, UK businesses have made it through the pandemic, often with higher levels of cash reserves than they started. And they are rebounding strongly, with recent figures for August showing that hospitality GVA returned to pre-Covid levels.</p><p> </p><p>However, as the UK and other economies recover from the pandemic, a number of pandemic-related and global factors have led to rising commodity prices, particularly for energy. These and other disruptions in global supply chains, are driving up expenses for UK businesses such as the cost of labour, raw materials and logistics.</p><p> </p><p>We will continue to work closely with other departments to actively monitor these disruptions and their effects on business cashflow, which are being experienced by economies across the globe.</p> answering member constituency Faversham and Mid Kent answering member printed Helen Whately question first answered 25/10/2021 08:00:34 answering member 4527 label Biography information for Helen Whately
tabling member	4482 label Biography information for Owen Thompson

1360805

registered interest
date	18/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Bounce Back Loan Scheme and Coronavirus Business Interruption Loan Scheme
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he is taking to encourage conversations between Coronavirus Business Interruption Loan Scheme and Bounce Back Loan Scheme lenders and borrowers seeking to restructure or refinance their debt.
tabling member constituency	Midlothian
tabling member printed	Owen Thompson
uin	58444
answer	answer is ministerial correction date of answer 25/10/2021 answer text <p>Any business concerned about repayments should get in touch with their lender who will be able to provide support and talk them through their options.</p><p> </p><p>In order to give businesses who have borrowed under the Bounce Back Loan Scheme further support in making their repayments, the Government announced “Pay as You Grow” (PAYG) options. PAYG will give businesses the option to repay their Bounce Back Loan over ten years. This will reduce their average monthly repayments on the loan by almost half. Businesses will also have the option to move temporarily to interest-only payments for periods of up to six months (an option which they can use up to three times). They can also pause their repayments entirely for up to six months. If borrowers want to take advantage of these options, they should notify their lender when they are contacted about their repayments.</p><p> </p><p>For those who borrowed under the Coronavirus Business Interruption Loan Scheme (CBILS), the Government has taken action to allow lenders to provide borrowers with more time to make their repayments where they assess that borrowers are in difficulty and will benefit from the extension. Given loans under CBILS are more varied than the standardised BBLS and resemble more traditional commercial lending, CBILS borrowers are likely to benefit from engagement with their lender if they have concerns about repayments. Lenders have an ongoing relationship with CBILS borrowers and will be best placed to provide support tailored to an individual business’s circumstance.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 58439 question first answered 25/10/2021 13:59:07 answering member 4051 label Biography information for John Glen
tabling member	4482 label Biography information for Owen Thompson

1359088

registered interest
date	15/10/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Shipping: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent discussions officials in his Department have held with relevant stakeholders on changing the classification of long-term assets in the maritime sector.
tabling member constituency	Rochester and Strood
tabling member printed	Kelly Tolhurst
uin	56124
answer	answer is ministerial correction date of answer 20/10/2021 answer text <p>The Treasury maintains regular contact with HMRC about all aspects of capital allowances policy.</p><p> </p><p>HMRC does not classify which assets should be written down at the main or special rate of writing down allowances. Instead, businesses should identify whether an asset they have acquired has a useful economic life (UEL) of more or less than 25 years when new.</p> answering member constituency South East Cambridgeshire answering member printed Lucy Frazer grouped question UIN 56126 56127 question first answered 20/10/2021 16:59:01 answering member 4517 label Biography information for Lucy Frazer
tabling member	4487 label Biography information for Kelly Tolhurst