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705878

	registered interest
	date	22/02/2017
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Science and Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what fiscal steps he is taking to encourage investment in innovative UK science and technology projects.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	908969
	answer	answer is ministerial correction date of answer 28/02/2017 answer text <p>As my Rt Honerable Friend the Chancellor of the Exchequer announced at Autumn Statement, the government is significantly increasing investment in R&amp;D, rising to an extra £2 billion a year by 2020-21; the largest increase in any parliament since at least 1979.</p><p> </p><p>This includes an Industrial Strategy Challenge Fund, which will support collaborations between businesses and the UK’s world-leading science base.</p><p> </p><p>This will ensure the UK remains an attractive place for businesses to invest in innovative research, and that the next generation of discoveries are made, developed and produced in Britain.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 28/02/2017 15:04:15 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

391306

	registered interest
	date	20/07/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Technology
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what support his Department is providing to promote the growth of the FinTech industry.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	7976
	answer	answer is ministerial correction date of answer 07/09/2015 answer text <p>The Government is committed to making the UK the leading global FinTech hub, and has announced a large number of policy initiatives, including more supportive regulatory regimes for peer-to-peer, digital currencies, and other innovative firms.</p><p> </p><p> </p><p> </p><p>The Government built on this record at the Summer Budget. First, Eileen Burbidge was appointed as the UK’s ‘Special Envoy for FinTech’, where she will represent UK interests in FinTech at home and around the world. Second, an international FinTech benchmarking exercise was announced to measure the UK’s performance and identify areas of best practice from around the world.</p><p> </p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 07/09/2015 15:35:18 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

520628

	registered interest
	date	23/05/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Bank Services: ICT
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the role of financial technology in encouraging consumers to switch their current account.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	37958
	answer	answer is ministerial correction date of answer 01/06/2016 answer text <p>The government is committed to increasing competition in banking to improve outcomes for consumers. This includes delivering the Current Account Switch Service (CASS) which allows customers to switch their personal or business current account where they see a better deal – simply, quickly and reliably. Consumers have switched over 2.8 million times since the service was launched in 2013.</p><p> </p><p>Making it easier for people to understand and compare banking products and services can help drive consumer engagement and could lead to an increase in switching. Financial technology is an important part of this.</p><p> </p><p>In its recent provisional decision on remedies, the Competition and Markets Authority (CMA) proposed requiring the largest retail banks in Great Britain and Northern Ireland to develop and adopt an open API banking standard by early 2018.</p><p>This will make it easier for financial technology firms to make use of customer bank data in a variety of innovative ways, including providing services that make it easier for consumers to compare products and shop around for a better deal.</p><p> </p><p>The government welcomes the CMA’s ongoing work as a crucial step towards the goal of a highly competitive banking sector, and stands ready to take action as necessary once the CMA publishes its final report in the summer.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 01/06/2016 13:51:23 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

511296

	registered interest
	date	12/04/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Income Tax: National Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment he has made of the implications for his Department's policies of the report by the Office for Tax Simplification's, The closer alignment of income tax and national insurance, published in March 2016.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	33586
	answer	answer is ministerial correction date of answer 20/04/2016 answer text <p>Budget 2016 announced that the Office of Tax Simplification (OTS) will review the impacts of moving employee National Insurance Contributions (NICs) to an annual, cumulative and aggregated basis and moving employer NICs to a payroll basis. After this review, the Government will respond in full to the OTS’s review of the closer alignment of income tax and NICs.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 20/04/2016 16:42:55 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

484468

	registered interest
	date	22/03/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Social Mobility
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will make an assessment of the potential effect of measures in Budget 2016 on social mobility.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	32097
	answer	answer is ministerial correction date of answer 30/03/2016 answer text <p>The Government has carefully considered the impact of the tax and benefit reforms introduced in Budget. It is committed to improving social mobility by moving towards a higher wage, lower tax and lower welfare society.</p><p> </p><p>The Government published distributional analysis to accompany Budget 2016 which shows that the richest are paying a greater share of tax as a result of this government’s policies while the share of spending going to the poorest has been protected.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 30/03/2016 13:40:05 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

479094

	registered interest
	date	16/03/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	EU Budget: Contributions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what the UK's net financial contribution to the EU budget (a) was in 2006 and (b) is in 2015-16.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	31516
	answer	answer is ministerial correction date of answer 29/03/2016 answer text <p>The UK’s net contribution to the EU in 2006, including rebate and total receipts from the EU, can be found in the tables appended in the EU’s Financial Report 2014:</p><p> </p><p>ec.europa.eu/budget/library/biblio/documents/2014/Internet%20tables%202000-2014.xls</p><p> </p><p>No comparable figure can be provided for 2015-16 as outturn data will only become available later in the year.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 29/03/2016 10:40:00 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

453650

	registered interest
	date	22/02/2016
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Food: Imports
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what revenue was received by the Exchequer from the total amount of food imported by the UK from other member states of the EU in the last 10 years.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	27726
	answer	answer is ministerial correction date of answer 01/03/2016 answer text <p>This level of detail is not collected on VAT or any other tax return.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 01/03/2016 15:32:39 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

79007

	registered interest
	date	21/07/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Foreign Investment in UK
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what estimate he has made of the amount of foreign direct investment generated since 2010 as a direct result of the lower rate of corporation tax.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	206722
	answer	answer is ministerial correction date of answer 01/09/2014 answer text <p>Since 2010, the Government has cut the main rate of corporation tax from 28% to 21%. It will fall further next year, to 20%, giving the UK the joint lowest rate of corporation tax in the G20. The Small Profits Rate has also been cut to 20%.</p><p> </p><p>These cuts are a central part of the Government’s long-term economic plan. They are intended to make the UK more competitive, supporting business investment and job creation.</p><p> </p><p>Government modeling suggests that the corporation tax cuts introduced in this parliament will:</p><p>· increase business investment by between 2.5% and 4.5% (£3.6bn to £6bn in today’s prices) in the long term</p><p>· increase GDP by between 0.6% and 0.8% (£9.6bn to £12.2bn in today’s prices) in the long term</p><p> </p><p>Foreign direct investment decisions are influenced by a range of factors including skills, market access, and infrastructure. Consequently, it is difficult to isolate the exact impact of the corporation tax cuts from reform in other areas. But recently published data on inward investment has been very encouraging.</p><p> </p><p>In their 2013/2014 Inward Investment Report, UKTI said ONS data showed the value of FDI stock increased from £725.6bn in 2010, to £936.5bn in 2012.</p><p> </p><p>UKTI also reported that the UK attracted more inward investment projects last year than in any year since records began in the 1980s. UKTI recorded 1773 projects, creating 66,390 new jobs.</p><p> </p><p>This is supported by analysis from Ernst and Young, who use their own independent database to assess inward investment. Ernst and Young’s Annual Attractiveness Survey, published in June, showed the number of inward investment projects in the UK had risen by 15% in the past year, against the background of a European market that grew by just 4%.</p><p> </p><p> </p><p>As noted above, it is difficult to isolate the impact of tax policy on these trends, and UKTI does not have estimates of how much of the new investment has been a direct result of the lower rate of corporation tax. But it is clear that the corporation tax reforms have changed perceptions of the UK competitiveness. For the past two years, the UK has ranked highest in the KPMG survey on international tax competitiveness, ahead of countries including the US, the Netherlands and Switzerland.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 01/09/2014 16:21:34 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

77525

	registered interest
	date	14/07/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Business: Capital Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many businesses received the annual investment allowance in (a) 2010-11, (b) 2011-12 and (c) 2012-13.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	205500
	answer	answer is ministerial correction date of answer 01/09/2014 answer text <p>Annual Investment Allowance (AIA) has been used to encourage investment in plant and machinery by all businesses. The number of unincorporated businesses and companies that received AIA is presented in the table below, and has been rounded to the nearest 1,000. The latest year for which figures are available is 2011-12.</p><p> </p><table><tbody><tr><td> </td><td><p>2010-11</p></td><td><p>2011-12</p></td></tr><tr><td><p>Number Of AIA Claims</p></td><td><p>1,203,000</p></td><td><p>1,222,000</p></td></tr></tbody></table><p> </p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 01/09/2014 16:31:01 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

64658

	registered interest
	date	30/06/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Income Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many people in (a) the UK, (b) the Thames Valley and (c) Windsor constituency no longer pay income tax due to changes in the level of personal allowance introduced since 2010.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	202981
	answer	answer is ministerial correction date of answer 07/07/2014 answer text <p>By April this year this Government's increases in the personal allowance (for those born after 5 April 1948) are estimated to have taken over 3 million individuals out of the income tax system altogether. 384,000 of these individuals live in the South East region, which includes the Thames Valley and the Parliamentary Constituency of Windsor.</p><p> </p><p>These estimates are based on the 2011-12 Survey of Personal Incomes, projected to 2014-15 using economic assumptions consistent with the Office for Budget Responsibility's March 2014 economic and fiscal outlook.</p><p> </p><p> </p><p>HM Treasury does not publish this information at constituency level.</p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 07/07/2014 15:09:45 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie