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1673018

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Lloyds Bank: Redundancy
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to recent reports concerning job cuts at Lloyd's Bank, what steps they are taking to address challenges in the financial sector and mitigate the impact on employees.
tabling member printed	Lord Taylor of Warwick
uin	HL635
answer	answer is ministerial correction date of answer 08/12/2023 answer text <p>The government is committed to ensuring the continued global success of the financial services sector. At the Autumn Statement, the government set out further progress in delivering on the Edinburgh and Mansion House reforms, taking ambitious steps to increase the flow of capital going to our more promising growth companies whilst further enhancing the financial services regulatory environment.</p><p> </p><p>Decisions on how firms like Lloyds Banking Group manage their workforce is a commercial consideration for the firms themselves. However, this government is committed to creating the right environment for businesses to invest, expand, and increase the number of high-quality jobs for people and this remains at the centre of the government’s economic policy. For example, at the Autumn Statement the government announced that full expensing for qualifying business investments would be made permanent, giving the UK one of the most generous capital allowances regimes in the OECD on a net present value basis.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 08/12/2023 09:49:37 answering member 4580 label Biography information for Baroness Vere of Norbiton
tabling member	1796 label Biography information for Lord Taylor of Warwick

1673083

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Office for Budget Responsibility: Operating Costs
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the annual operating cost of the Office for Budget Responsibility was in each of the last five years.
tabling member constituency	South Holland and The Deepings
tabling member printed	Sir John Hayes
uin	3696
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>The OBR publishes its operating costs annually in its Annual Report and Accounts: <a href="https://obr.uk/topics/governance-and-reporting/#annual" target="_blank">https://obr.uk/topics/governance-and-reporting/ - annual</a></p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 05/12/2023 10:12:39 answering member 4639 label Biography information for Bim Afolami
tabling member	350 label Biography information for Sir John Hayes

1673084

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Office for Budget Responsibility: Staff
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many staff were employed by the Office for Budget Responsibility in each year since 2010.
tabling member constituency	South Holland and The Deepings
tabling member printed	Sir John Hayes
uin	3697
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>The Office for Budget Responsibility (OBR) was legally formed on 4 April 2011. The OBR publishes numbers of employees annually in its Annual Report and Accounts: <a href="https://obr.uk/topics/governance-and-reporting/#annual" target="_blank">https://obr.uk/topics/governance-and-reporting/ - annual</a></p><p><strong> </strong></p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 05/12/2023 10:11:18 answering member 4639 label Biography information for Bim Afolami
tabling member	350 label Biography information for Sir John Hayes

1673101

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	High Income Child Benefit Tax Charge
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what the average income was of families paying the High Income Child Benefit Charge in 2020-21.
tabling member constituency	East Londonderry
tabling member printed	Mr Gregory Campbell
uin	3741
answer	answer is ministerial correction date of answer 30/11/2023 answer text <p>The information is only available at disproportionate cost.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 30/11/2023 16:35:35 answering member 4407 label Biography information for Nigel Huddleston
tabling member	1409 label Biography information for Mr Gregory Campbell

1673147

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax: International Cooperation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department holds information on the countries that will implement the OECD Pillar 2 minimum corporation tax measures from 31 December 2023; and what discussions he has had with (a) the OECD and (b) his counterparts in other countries on the implementation of that measure.
tabling member constituency	Witham
tabling member printed	Priti Patel
uin	3784
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>Countries that have committed to apply Pillar 2 from 31 December 2023 or 1 January 2024 include: Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Slovenia, South Korea, Spain, Sweden, Switzerland and Vietnam. Japan are implementing for 1 April 2024.</p><p> </p><p>Guernsey, Isle of Man, Jersey, Hong-Kong and Singapore have committed to implement for 1 January 2025.</p><p> </p><p>There are many other jurisdictions that have taken steps towards Pillar 2 implementation.</p><p> </p><p>There are regular multilateral discussions at Ministerial level, including at the level of the G20, on how to ensure swift and coordinated implementation of Pillar 2, as well as the support that can be provided to developing countries in that regard.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 05/12/2023 17:38:46 answering member 4850 label Biography information for Gareth Davies
tabling member	4066 label Biography information for Priti Patel

1673148

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Corporation Tax: International Cooperation
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 impact on (a) UK based businesses and (b) foreign direct investment of implementation of the OECD Pillar 2 minimum corporation tax measures.
tabling member constituency	Witham
tabling member printed	Priti Patel
uin	3785
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>A Tax Information and Impact Note was published in March 2023 which sets out the impact on business of complying with Pillar 2.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 05/12/2023 17:37:14 answering member 4850 label Biography information for Gareth Davies
tabling member	4066 label Biography information for Priti Patel

1673169

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Economic Situation: Brexit
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether his Department has plans to undertake an assessment of the impact of the UK's departure from the EU on the economy.
tabling member constituency	Battersea
tabling member printed	Marsha De Cordova
uin	3948
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>It is for the Office for Budget Responsibility (OBR) to provide independent and authoritative analysis and forecasting for the UK public finances.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 05/12/2023 10:09:36 answering member 4639 label Biography information for Bim Afolami
tabling member	4676 label Biography information for Marsha De Cordova

1673223

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Offshore Industry: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of windfall taxes on the level of investment in offshore energy production.
tabling member constituency	Banff and Buchan
tabling member printed	David Duguid
uin	3891
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>The Energy Profits Levy (EPL) was introduced on 26 May 2022 to respond to exceptionally high prices that meant oil and gas companies were benefiting from unexpectedly high profits. While the EPL is in place, companies can claim around 91p in tax relief for every £1 they invest in the UK. This relief increases to £1.09 for every £1 for money invested towards reducing greenhouse gas emissions from the production of oil and gas. At Autumn Statement 2023, the Government confirmed the technical details of the EPL’s price floor, the Energy Security Investment Mechanism (ESIM), which was introduced in June 2023 to give the sector the certainty to invest. The Government are committed to ending the EPL by March 2028 at the latest, or earlier if oil and gas prices return to historically normal levels due to the ESIM.</p><p> </p><p>The Electricity Generator Levy (EGL) is a time-limited tax on the extraordinary returns of electricity generators. The levy is not payable on renewable generation produced under Contracts for Difference, which will account for most new large renewable generation coming online in future years. To further support new renewables investment, at Autumn Statement 2023 the Chancellor announced an exemption from the EGL for new generation projects.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 05/12/2023 15:01:44 answering member 4850 label Biography information for Gareth Davies
tabling member	4606 label Biography information for David Duguid

1673261

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Public Sector Net Cash Requirement: Interest Rates
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, if he will publish an estimate of the potential impact of borrowing an additional 1% of gross domestic product on interest rates.
tabling member constituency	Crewe and Nantwich
tabling member printed	Dr Kieran Mullan
uin	4012
answer	answer is ministerial correction date of answer 01/12/2023 answer text <p>Responsible decisions on borrowing are a key pillar of government support to the MPC in its action to bring inflation down to the 2% target. The external evidence suggests that for every extra 1% of GDP of borrowing (£25 billion), we could potentially be pushing up interest rates by as much as half a per cent. And there are reasons to believe that in current conditions it could be higher than that. Treasury modelling suggests that in the current economic conditions the impact might be between 0.5 and 1.25 per cent, without taking into account any supply-side impacts on the economy.</p><p> </p><p>More detail on the methodology can be found here : <a href="https://www.gov.uk/government/publications/further-detail-on-hmt-analysis-of-borrowing-and-interest-rates" target="_blank">Further detail on HMT analysis of borrowing and interest rates - GOV.UK (www.gov.uk)</a></p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 01/12/2023 15:08:05 answering member 4639 label Biography information for Bim Afolami
tabling member	4860 label Biography information for Dr Kieran Mullan

1673264

registered interest
date	27/11/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Hospitality Industry: Scotland
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, how many and what proportion of Scottish hospitality businesses per sector have submitted requests to split their quarterly VAT payments in each of the last five years.
tabling member constituency	Moray
tabling member printed	Douglas Ross
uin	3913
answer	answer is ministerial correction date of answer 05/12/2023 answer text <p>I believe that my honourable friend is referring to the recent consultation on an “Alternative Method of VAT Collection - Split Payment”. The consultation has now closed, and HMRC and HMT are taking this forward. You can see the full details here:</p><p><a href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.gov.uk%2Fgovernment%2Fconsultations%2Falternative-method-of-vat-collection-split-payment&amp;data=05%7C01%7Cdavid.g.piper%40hmrc.gov.uk%7C5437b0ae99504b195d3808dbf188947c%7Cac52f73cfd1a4a9a8e7a4a248f3139e1%7C0%7C0%7C638369341135314399%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&amp;sdata=IlobKoEJFsjhGXuEdFVYRx01SE%2BFOMtL1GWd7%2FoP%2BIM%3D&amp;reserved=0" target="_blank">https://www.gov.uk/government/consultations/alternative-method-of-vat-collection-split-payment</a></p><p> </p><p>You may be interested to know that information on numbers of businesses in the trade sectors is published in the Annual UK VAT Statistics, which can be found here:</p><p><a href="https://www.gov.uk/government/statistics/value-added-tax-vat-annual-statistics" target="_blank">https://www.gov.uk/government/statistics/value-added-tax-vat-annual-statistics</a></p><p> </p><p>Further information is also available here:</p><p><a href="https://www.gov.uk/government/statistics/scottish-vat-assignment-experimental-statistics/scottish-vat-assignment-experimental-statistics-2020#about-this-release" target="_blank">https://www.gov.uk/government/statistics/scottish-vat-assignment-experimental-statistics/scottish-vat-assignment-experimental-statistics-2020#about-this-release</a></p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 05/12/2023 11:45:33 answering member 4407 label Biography information for Nigel Huddleston
tabling member	4627 label Biography information for Douglas Ross