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1725963

registered interest
date	30/08/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment her Department has made of trends in the level of wealth inequality.
tabling member constituency	Liverpool Wavertree
tabling member printed	Paula Barker
uin	3215
answer	answer is ministerial correction date of answer 09/09/2024 answer text <p>The Office for National Statistics (ONS) publishes the Gini coefficient for aggregate household wealth, which is a measure of wealth inequality, and this is released every few years using the Wealth and Assets survey. The ONS has published the Gini coefficient of wealth since July 2006.</p><p> </p> answering member constituency Ealing North answering member printed James Murray question first answered 09/09/2024 11:35:51 answering member 4797 label Biography information for James Murray
tabling member	4828 label Biography information for Paula Barker

1691166

registered interest
date	22/02/2024
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what consideration he gave to the potential impact on equalities of increasing to £170,000 the annual income threshold for eligibility for the high net worth individual exemption in the Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023; and whether he had discussions with the Minister for Women and Equalities on the potential impact on equalities of the order.
tabling member constituency	Oxford East
tabling member printed	Anneliese Dodds
uin	15340
answer	answer is ministerial correction date of answer 28/02/2024 answer text <p>The changes to the financial promotion exemptions that came into force on 31 January 2024 were subject to a public consultation which closed in March 2022.</p><p>However, the Government recognises the concerns that have been raised recently about these changes. I met recently with the angel investing sector and listened carefully to the representations made, and the Government is working closely with the sector to address the concerns raised.</p><p>In line with the practice of successive administrations, details of internal discussions are not usually disclosed.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 28/02/2024 10:24:51 answering member 4639 label Biography information for Bim Afolami
tabling member	4657 label Biography information for Anneliese Dodds

1564603

registered interest
date	06/01/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, by how much median household income per person has changed in absolute terms since 2010; and if he will make a comparative estimate of the level of change in other G7 countries.
tabling member constituency	Slough
tabling member printed	Mr Tanmanjeet Singh Dhesi
uin	117941
answer	answer is ministerial correction date of answer 16/01/2023 answer text <p>The government understands that people are worried about the rising cost of living. The government has announced further support for next year designed to target the most vulnerable households. This cost of living support is worth £26 billion in 2023-24, in addition to benefits uprating, which is worth £11 billion to working age households and people with disabilities. This support for 2023-24 is in addition to the generous support already in place to support households this year.</p><p> </p><p>The Department for Work and Pensions annually publishes their estimate of UK median household income in their households below average income publication. These estimates show the weekly UK median household income before housing cost in 2010/11 was £502 and in 2020/21 was £539. The weekly UK median household income after housing cost in 2010/11 was £432 and in 2020/21 was £472. All statistics equivalised in 2020/21 prices.</p><p> </p><p>Based on internationally comparable OECD data, household disposable income per capita in the UK (in nominal US dollars, adjusted for purchasing power parity) has grown by 30% during the years 2010 to 2020. This is equivalent to an average annual growth rate of 2.6% over this period. By comparison, the equivalent growth rate over the same period was 2.2% for Italy, 2.5% for Japan, 3.3% for France and Canada, 4.0% for the US and 4.1% for Germany.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 16/01/2023 17:26:35 answering member 4874 label Biography information for Andrew Griffith
tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1419916

registered interest
date	04/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
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 implications for his policies of the findings of the Bank of England Monetary Policy Report of 3 February 2022, that real post-tax labour income will fall by 2 per cent in 2022.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	118646
answer	answer is ministerial correction date of answer 09/02/2022 answer text <p>We understand that inflation, if higher than income growth, can reduce households’ real income, and that higher prices can increase the cost of living for people and households.</p><p> </p><p>The government is providing support worth around £12 billion this financial year and next to help families with the cost of living. Much of the support in place that will help ease these pressures is UK-wide, for example the increase to the National Living Wage, the change to the Universal Credit taper rate and increase to the Work Allowance, as well as freezes to alcohol duty and fuel duty.</p><p> </p><p>In addition, the government has announced a package of support to help households with rising energy bills, worth £9.1 billion in 2022-23.</p><p> </p><p>The government’s Plan for Jobs is also helping people into work and giving them the skills they need to progress – the best approach to managing the cost of living in the long term.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 118645 118648 118650 question first answered 09/02/2022 08:14:01 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1419918

registered interest
date	04/02/2022
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, with reference to the Bank of England Monetary Policy Report of 3 February 2022 projection of a 7.25 per cent inflation rate in April, what steps he is taking to prevent a fall in real incomes.
tabling member constituency	Cynon Valley
tabling member printed	Beth Winter
uin	118648
answer	answer is ministerial correction date of answer 09/02/2022 answer text <p>We understand that inflation, if higher than income growth, can reduce households’ real income, and that higher prices can increase the cost of living for people and households.</p><p> </p><p>The government is providing support worth around £12 billion this financial year and next to help families with the cost of living. Much of the support in place that will help ease these pressures is UK-wide, for example the increase to the National Living Wage, the change to the Universal Credit taper rate and increase to the Work Allowance, as well as freezes to alcohol duty and fuel duty.</p><p> </p><p>In addition, the government has announced a package of support to help households with rising energy bills, worth £9.1 billion in 2022-23.</p><p> </p><p>The government’s Plan for Jobs is also helping people into work and giving them the skills they need to progress – the best approach to managing the cost of living in the long term.</p> answering member constituency Salisbury answering member printed John Glen grouped question UIN 118645 118646 118650 question first answered 09/02/2022 08:14:01 answering member 4051 label Biography information for John Glen
tabling member	4809 label Biography information for Beth Winter

1309388

registered interest
date	15/04/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the proportion of households that have financial reserves to cover basic costs for (i) three months and (ii) six months.
tabling member constituency	North East Bedfordshire
tabling member printed	Richard Fuller
uin	181228
answer	answer is ministerial correction date of answer 23/04/2021 answer text <p>The Government is committed to monitoring and understanding households’ personal finances in order to inform policy making to help people manage their money well, encourage them to save and access support if they need to get their finances back on track. As such, the Government works closely with the Money and Pensions Service (MaPS), the Financial Conduct Authority (FCA) and engages regularly with many other stakeholders on their research and findings.</p><p> </p><p>The FCA conducts biennial Financial Lives Survey of 16,000 adults which provides a comprehensive insight into the finances of the UK population. The latest findings from the survey were published in February 2021. MaPS monitor financial difficulty through an annual survey of 22,000 people. MaPS will publish the results of the survey later in 2021.</p> answering member constituency Salisbury answering member printed John Glen question first answered 23/04/2021 10:25:22 answering member 4051 label Biography information for John Glen
tabling member	3912 label Biography information for Richard Fuller

1309389

registered interest
date	15/04/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what fiscal steps his Department is taking to increase the number of households that have financial reserves to cover basic costs for three or more months.
tabling member constituency	North East Bedfordshire
tabling member printed	Richard Fuller
uin	181229
answer	answer is ministerial correction date of answer 22/04/2021 answer text <p>It is important that consumers have sufficient financial resilience to be able to manage short-term shocks to income or expenditure to help avoid these events causing them to fall into financial difficulty or problem debt.</p><p> </p><p>The Government is committed to supporting people at all income levels and at all stages of life to save, including working families and individuals on low incomes, to put money aside for a rainy day. The Help to Save scheme was launched in September 2018 and is intended to support working people on low incomes and in receipt of certain benefits to build their financial resilience while also encouraging them to develop a regular, long-term savings habit.</p><p> </p><p>The Government has also agreed to maintain record levels of debt advice funding for the Money and Pension Service in 2021-22 to help people in problem debt get their finances back on track.</p><p><strong> </strong></p> answering member constituency Salisbury answering member printed John Glen question first answered 22/04/2021 12:30:49 answering member 4051 label Biography information for John Glen
tabling member	3912 label Biography information for Richard Fuller

1279537

registered interest
date	21/01/2021
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	2
legislature	25277 pref label House of Lords
question text	To ask Her Majesty's Government how many individuals have an annual income of less than the £12,500 Personal Tax Allowance.
tabling member printed	Lord Sikka
uin	HL12457
answer	answer is ministerial correction date of answer 04/02/2021 answer text <p>The estimated number of individuals who have an annual income of less than the £12,500 Personal Tax Allowance in the 2019-20 tax year is 18.4 million.</p><p> </p><p>Note:</p><p> </p><ol><li>Taxpayer numbers are shown to three significant figures<p><p></li><li>Figures provided are estimates for the 2019-20 tax year, when the Personal Tax Allowance reached £12,500.</li></ol><p> </p><ol start="3"><li>The figures for 2019-20 are based on outturn data derived from the 2017-18 Survey of Personal Incomes (SPI) and projected using economic assumptions consistent with the Office for Budget Responsibility’s March 2020 Economic and Fiscal Outlook.</li></ol><p> </p><p>This estimate is based on the Survey of Personal Incomes which represents a sample of individuals in contact with HMRC. However, HMRC do not hold information for all people with personal incomes below the income tax threshold. Further details are set out alongside the Income Tax Liabilities Statistics.</p> answering member printed Lord Agnew of Oulton question first answered 04/02/2021 14:09:08 answering member 4689 label Biography information for Lord Agnew of Oulton
tabling member	4885 label Biography information for Lord Sikka

1182198

registered interest
date	03/03/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 27 February 2020 to Question 19979 on Personal Income, if he will make an estimate the cost to the public purse of an increase in the nationally mandated rate by the rate of inflation.
tabling member constituency	North West Norfolk
tabling member printed	James Wild
uin	24446
answer	answer is ministerial correction date of answer 09/03/2020 answer text <p>DHSC hold policy responsibility for social care and review the social care allowances, including the Minimum Income Guarantee, annually.</p> answering member constituency North East Cambridgeshire answering member printed Steve Barclay question first answered 09/03/2020 17:15:04 answering member 4095 label Biography information for Steve Barclay
tabling member	4787 label Biography information for James Wild

1171925

registered interest
date	20/01/2020
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Personal Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what estimate he has made of the number of households with a single-earner income of over £50,000 in (a) North East Hampshire constituency and (b) the UK; and if he will make it his policy to support those households through the tax system.
tabling member constituency	North East Hampshire
tabling member printed	Mr Ranil Jayawardena
uin	5481
answer	answer is ministerial correction date of answer 28/01/2020 answer text <p>The number of households with a single-earner income of over £50,000 is based on Department for Work and Pensions analysis of Households Below Average Income (HBAI) data sourced from the 2017-18 Family Resources Survey (FRS).</p><p> </p><p>The survey sample sizes are too small to produce robust estimates at local authority or constituency level. The Department for Work and Pensions estimate that in the UK in 2017-18 there were 2.7m households with one person earning over £50,000 per year from employment (either as an employee or self-employed). Of these, 700,000 households contained only one person in employment.</p><p> </p><p> </p><p>The Government has made substantial increases to the personal allowance and higher rate threshold in recent years. In April 2019, the Government increased the personal allowance to £12,500 and the higher rate threshold to £50,000. This ensured that nearly one million fewer people pay the higher rate of tax compared to 2015-16 and that a typical higher rate taxpayer pays over £1,800 less income tax than in 2010-11.</p> answering member constituency Hereford and South Herefordshire answering member printed Jesse Norman question first answered 28/01/2020 13:56:47 answering member 3991 label Biography information for Jesse Norman
tabling member	4498 label Biography information for Mr Ranil Jayawardena