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92918

	registered interest
	date	13/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Russia
	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 effect of sanctions against the Russian Federation on the UK economy; and if he will make a statement.
	tabling member constituency	Brighton, Kemptown
	tabling member printed	Simon Kirby
	uin	210105
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The sanctions have been designed to have the maximum impact on the actions of the Russian leadership while minimising the impact on the UK and EU. There will be a cost to the EU's economy, but there is a greater cost involved in not standing up to Russia's aggression. The Government has been clear that any pain as a result of economic sanctions should be shared equally across the EU.</p><p> </p><p>Due to the recent nature of the implementation of the sanctions Treasury officials are still in the process of analysing the initial data; it is a work in progress and not yet ready for public use.</p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 21/10/2014 09:10:18 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	3929 label Biography information for Simon Kirby

93095

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Repossession Orders
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what his Department's policy is on the introduction of restrictions on the ability of banks and other mortgage lenders to repossess a home where that would make a family homeless.
	tabling member constituency	Hemsworth
	tabling member printed	Jon Trickett
	uin	210330
	answer	answer is ministerial correction date of answer 20/10/2014 answer text <p>The Government has put a number of protections in place to limit repossessions.</p><p> </p><p> </p><p> </p><p>It established the independent Financial Conduct Authority (FCA) and gave them the responsibility to put in place robust protections to ensure fair treatment of borrowers facing payment difficulties. The Department for Work and Pensions also provides help for pensioners and those out of work to meet their mortgage payments through Support for Mortgage Interest. In addition, all borrowers can seek protection in the Courts using the Mortgage Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.</p><p> </p><p> </p><p> </p><p>However, a well-functioning mortgage market will always need to keep the possibility of repossession open as a last resort. Without this option, lenders have no reliable security against which to lend and the likely consequence would be higher mortgage rates.</p><p> </p><p> </p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 20/10/2014 10:43:10 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	410 label Biography information for Jon Trickett

93102

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	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 and what proportion of adults in the UK aged (a) 21 to 64 years old and (b) 65 years and over pay income tax; and how many in each such group pay tax at the higher rate or above.
	tabling member constituency	Leeds North West
	tabling member printed	Greg Mulholland
	uin	210604
	answer	answer is ministerial correction date of answer 22/10/2014 answer text <p>The estimate for the tax year 2014-15 shows that there are 23.7m taxpayers aged between 21 and 64 and 5.9m aged 65 or over. Within this there are approximately 4.4m taxpayers aged between 21 and 64 and 500,000 taxpayers aged 65 or over who pay the higher rate or above.</p><p> </p><p> </p><p> </p><p>This table contains estimates of the total number of taxpayers aged under 21 years old, 21 to 64 years old and those aged 65 and over split by the marginal tax rates. These figures are projected for 2014-15.</p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p> </p><p>The estimates are based upon the 2011-12 Survey of Personal Incomes using economic assumptions consistent with the OBR’s March 2014 economic and fiscal outlook to project forward.</p><p> </p><p> </p><p> </p><p>Estimates of the UK population by age are published by the Office for National Statistics (ONS). Table A3.1 contains the mid-year population projections for 2014.</p><p> </p><p> </p><p> </p><p><a href="http://www.ons.gov.uk/ons/publications/re-reference-tables.html?edition=tcm%3A77-318453" target="_blank">http://www.ons.gov.uk/ons/publications/re-reference-tables.html?edition=tcm%3A77-318453</a></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 22/10/2014 15:41:30 answering member 1529 label Biography information for Mr David Gauke attachment 1 file name Doc1.docx title Numberoftaxpayers
	tabling member	1540 label Biography information for Greg Mulholland

93105

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Children: Day Care
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what the cost per child of providing childcare accounts for households in receipt of Tax Free Childcare will be; and how much funding the Government has set aside for the administration and running costs of the tax free childcare system.
	tabling member constituency	Manchester Central
	tabling member printed	Lucy Powell
	uin	210465
	answer	answer is ministerial correction date of answer 17/10/2014 answer text <p>HM Treasury and Her Majesty’s Revenue and Customs (HMRC) are working closely together to ensure that HMRC is funded to deliver Tax-Free Childcare in a way that provides value for money for the taxpayer. The costs of the scheme will be confirmed once the full details have been settled.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 17/10/2014 13:51:33 answering member 1529 label Biography information for Mr David Gauke
	tabling member	4263 label Biography information for Lucy Powell

93107

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Stamp Duty Land Tax
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what research his Department has undertaken or commissioned into the effects of changes in the level of Stamp Duty Land Tax on the number of property transactions completed between 2005-06 and 2013-14.
	tabling member constituency	St Albans
	tabling member printed	Mrs Anne Main
	uin	210339
	answer	answer is ministerial correction date of answer 20/10/2014 answer text The fiscal effect of raising the Stamp Duty Land Tax threshold is likely to be a reduction in SDLT receipts as fewer property transactions will be charged SDLT. A HMRC publication for Budget 2014 <em>(‘Direct Effects of Illustrative Tax Changes’, </em>19 March 2014) found that an increase in the £125,000 threshold by £5,000 would cost £35 million in its first year and £40 million subsequently.<p> </p><p> </p><p> </p><p>Published research was undertaken by HMRC examining the impact of a first-time buyer’s relief that was in place between 2010 and 2012 (‘<em>Evaluating the Impact of Stamp Duty Land Tax First Time Buyers Relief</em>’, November 2011). It found that there was a substantial deadweight effect as many of the property transactions would have taken place anyway. The estimated increase in the number of transactions as a result of the introduction of the relief was between 0-1%.</p><p> </p><p><strong> </strong></p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 210340 question first answered 20/10/2014 15:00:26 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1568 label Biography information for Mrs Anne Main

93108

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Stewart Ford
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, if he will take steps to ensure that Financial Conduct Authority disciplinary proceedings relating to Stewart Ford, formerly of Keydata Investment Services, are concluded as quickly as possible.
	tabling member constituency	Hexham
	tabling member printed	Guy Opperman
	uin	210312
	answer	answer is ministerial correction date of answer 17/10/2014 answer text <p><strong>The Government appreciates the real difficulties and the serious implications the Keydata issue has had for investors and is following the situation closely.</strong></p><p> </p><p> </p><p><strong>The Financial Conduct Authority (FCA) is an independent non-governmental body responsible for regulating and supervising the financial services industry within the framework of statutory objectives and duties agreed by Parliament. Although the Treasury is responsible for the legal framework, it has strictly limited powers in relation to the FCA. In particular the Treasury has no general power of direction over the FCA and cannot direct its enforcement activities.</strong></p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 17/10/2014 12:39:05 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	4142 label Biography information for Guy Opperman

93222

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Russia
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, how many Russian nationals have had assets frozen by the UK in the last five years.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	210375
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The consolidated list of financial sanctions targets is published by HM Treasury at: <a href="https://www.gov.uk/government/publications/financial-sanctions-consolidated-list-of-targets" target="_blank">https://www.gov.uk/government/publications/financial-sanctions-consolidated-list-of-targets</a>.</p><p> </p><p> </p><p> </p><p>Nationality information is not available.</p><p> </p><p> </p><p> </p> answering member constituency South Northamptonshire answering member printed Andrea Leadsom question first answered 21/10/2014 12:17:11 answering member 4117 label Biography information for Andrea Leadsom
	tabling member	1447 label Biography information for Andrew Rosindell

93279

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	School Milk
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, with reference to the review of the Nursery Milk Scheme, what assessment officials of his Department have made of the potential effect of claiming subsidies for school milk under the EU School Milk Scheme on the UK's EU rebate.
	tabling member constituency	Torbay
	tabling member printed	Mr Adrian Sanders
	uin	210563
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The size of the proposed budget for the EU School Milk Scheme is €80 million per year. The exact Member State allocations have yet to be finalised.</p><p> </p><p> </p><p> </p><p>The net monetary impact on the UK and the impact on the UK's rebate from the EU budget of claiming subsidies for school milk under the scheme will depend on both the actual take-up by Member States of available funds and other technical factors that determine the UK's contributions to the EU budget.</p><p> </p><p> </p><p> </p><p>For any given level of EU expenditure under this scheme, the marginal impact of every €1 drawn down by the UK would be a reduction in the UK rebate by approximately two thirds of this figure.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 210559 question first answered 21/10/2014 16:44:18 answering member 1529 label Biography information for Mr David Gauke
	tabling member	237 label Biography information for Mr Adrian Sanders

93280

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	School Milk
	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 potential monetary gain to the UK of claiming available subsidies under the EU School Milk Scheme.
	tabling member constituency	Torbay
	tabling member printed	Mr Adrian Sanders
	uin	210559
	answer	answer is ministerial correction date of answer 21/10/2014 answer text <p>The size of the proposed budget for the EU School Milk Scheme is €80 million per year. The exact Member State allocations have yet to be finalised.</p><p> </p><p> </p><p> </p><p>The net monetary impact on the UK and the impact on the UK's rebate from the EU budget of claiming subsidies for school milk under the scheme will depend on both the actual take-up by Member States of available funds and other technical factors that determine the UK's contributions to the EU budget.</p><p> </p><p> </p><p> </p><p>For any given level of EU expenditure under this scheme, the marginal impact of every €1 drawn down by the UK would be a reduction in the UK rebate by approximately two thirds of this figure.</p><p> </p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke grouped question UIN 210563 question first answered 21/10/2014 16:44:18 answering member 1529 label Biography information for Mr David Gauke
	tabling member	237 label Biography information for Mr Adrian Sanders

93430

	registered interest
	date	14/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Workplace Pensions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask Her Majesty’s Government what estimate they have made of how many individuals in defined contribution funded public sector pension schemes will withdraw their entire accrued entitlements under the new Freedom and Choice for Pensioner arrangements in the first year from April 2015, and at what cost.
	tabling member printed	Lord Laird
	uin	HL2096
	answer	answer is ministerial correction date of answer 29/10/2014 answer text <p>The government believes that people should be free to make their own</p><p> </p><p>choice about how to use their savings - individuals who have worked hard and saved responsibly throughout their adult life should have a choice about their pension savings and the reforms announced at Budget 2014 will deliver this.</p><p> </p><p> </p><p> </p><p>The new tax framework, which will allow, from April 2015, individuals with a defined contribution pension to access their entire pension flexibly will apply equally across trust and contract based money purchase pension schemes. In the public sector, members of defined contribution schemes will also have access to these flexibilities, including members with savings in Additional Voluntary Contribution (AVC) arrangements.</p><p> </p><p> </p><p> </p><p>The Government’s assessment of the impact of the policy is set out in detail in the Budget costing note and the Tax Information and Impact Note, published alongside the Taxation of Pensions Bill.</p><p> </p><p> </p><p> </p><p>The government wants to extend the principles of freedom and choice to as many pension savers as possible which is why, following an extensive public consultation, it was decided to permit transfers out of private sector and funded public sector defined benefit schemes to continue. Giving scheme members the choice to transfer their accrued benefits into a defined contribution scheme, in order to access their pension pot flexibly if they wish to.</p><p> </p><p> </p><p>To ensure due consideration is given to the interests of scheme members, scheme funds and the taxpayer in the continuation of these transfers for the public service schemes, government set out in the response to the consultation, <em>Freedom and Choice in Pensions,</em> that it would look to implement, where appropriate, safeguards akin to those which already exist in the private sector. We are continuing to discuss these options and others, including with the Department for Local Government as the department responsible for the Local Government Pension Scheme, the largest of the funded public service pension schemes, and will set out further detail on this issue in due course.</p> answering member printed Lord Deighton grouped question UIN HL2097 HL2098 HL2099 question first answered 29/10/2014 15:20:53 answering member 4262 label Biography information for Lord Deighton
	tabling member	2479 label Biography information for Lord Laird