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1713187

	registered interest
	date	23/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies: Fraud
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he plans to take in the 2024-25 financial year to help tackle crypto currency fraud.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	23147
	answer	answer is ministerial correction date of answer 26/04/2024 answer text <p>The Government takes the issue of fraud very seriously, and published a comprehensive Fraud Strategy in May last year. Through this the Government will work: with industry to remove the vulnerabilities that fraudsters exploit; with intelligence agencies to shut down fraudulent infrastructure; with law enforcement to identify and bring the most harmful offenders to justice; and with all partners to ensure that the public have the advice and support they need</p><p><br>Further, the Financial Conduct Authority (FCA) commenced enforcement of the cryptoassets financial promotion regime in October last year, requiring such promotions to be fair, clear and not misleading. This is aimed at improving consumers’ understanding of the risks and benefits associated with cryptoasset purchases and ensuring that cryptoasset promotions are held to the same standards as similar risk financial services products. In the next phase of its work, the Government is creating a comprehensive financial services regulatory regime for cryptoassets in the UK.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/04/2024 13:07:45 answering member 4639 label Biography information for Bim Afolami
	tabling member	1409 label Biography information for Mr Gregory Campbell

1712888

	registered interest
	date	22/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Equitable Life Assurance Society: Compensation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with (a) Cabinet colleagues and (b) officials in his Department on compensation and support for affected Equitable Life policyholders.
	tabling member constituency	Mid Bedfordshire
	tabling member printed	Alistair Strathern
	uin	23080
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Equitable Life Payment Scheme has been fully wound down and closed since 2016 and there are no plans to reopen any previous decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/04/2024 12:10:54 answering member 4639 label Biography information for Bim Afolami
	tabling member	5000 label Biography information for Alistair Strathern

1712907

	registered interest
	date	22/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Nurseries: Business Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to support nurseries experiencing financial challenges as a result of increased business rates.
	tabling member constituency	Nottingham East
	tabling member printed	Nadia Whittome
	uin	23085
	answer	answer is ministerial correction date of answer 26/04/2024 answer text <p>The government recognises the pressure that businesses have been under since the pandemic and that is why the government froze the business rates multiplier for three consecutive years from April 2021 until April 2024 at a cost of £14.5 billion.</p><p> </p><p>To make sure that the most vulnerable businesses continue to be supported, the government announced a further freeze to the small business multiplier at Autumn Statement for 2024-25, which will protect over a million ratepayers from a multiplier increase. This means bills will be 6.6 per cent lower than without the freeze. In addition to this support, some nurseries will already be in receipt of business rates relief where they have a ‘charitable purpose’, such as those part of academy chains.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 26/04/2024 14:34:57 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4869 label Biography information for Nadia Whittome

1702387

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he is developing economic models to forecast (a) price trends and (b) growth potential in cryptocurrencies.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22784
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Government is not developing economic models to forecast cryptoasset trends. Rather, it uses information from a range of sources to understand broad trends in the market in order to inform policy development.</p><p>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets, and is currently working to deliver legislation giving effect to its proposals. As part of this, the government will publish analysis of the impacts of its legislation on cryptoasset businesses in scope of the forthcoming regime in the usual way.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 25/04/2024 09:27:23 answering member 4639 label Biography information for Bim Afolami
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1702391

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employed: Fines
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether self-employed individuals who file their tax returns late but owe no tax are penalised.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22787
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>HMRC issues SA tax returns to customers when the information they hold suggests that the customer meets the published criteria for completing one. HMRC often cannot determine someone’s tax liability until they have sent in a tax return, therefore they need the return to establish whether there is tax due or not.​​ Late filing and payment penalties are charged to encourage customers to file on time but we can cancel a customer’s late filing penalty if they have a reasonable excuse. Customers can also ask HMRC to remove them from the SA process for future years if they no longer meet the criteria.​</p><p> </p><p>From October 2011 the penalty legislation changed, from this point the capping of penalties was no longer factored into the calculation and any fixed penalty applied remained at the full amount regardless of liability.</p><p> </p><p>Although no change to the current penalty regime has been announced, Penalty Reform within Making Tax Digital will change the way we calculate penalties for late Submission and late payment of tax. The new legislation will factor in the Liability amount, Filing frequency and length of time outstanding within its penalty calculations.</p><p> </p><p>In reforming late payment and late filing penalties HMRC’s aim is to encourage those who persistently default to comply with their tax obligations rather than penalise those who make occasional errors.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 25/04/2024 09:29:08 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1702399

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Oil: Imports
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 18 April 2024 to Question 21846 on Oil: Imports, in how many cases action has (a) been and (b) not been taken where investigations have concluded.
	tabling member constituency	East Lothian
	tabling member printed	Kenny MacAskill
	uin	22820
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>Pursuant to the answer provided on 18 April 2024 to Question 21846, HM Revenue and Customs is responsible for enforcing and investigating export controls on strategic goods and sanctions and investigating potential breaches of those controls. HM Revenue and Customs does not comment on operational enforcement matters pertaining to specific import or export scenarios.</p><p> </p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 22821 question first answered 24/04/2024 14:24:56 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4772 label Biography information for Kenny MacAskill

1702400

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Oil: Imports
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 18 April 2024 to Question 21846 on Oil: Imports, what volume of oil has been identified as being from Russia in cases where investigations have been concluded.
	tabling member constituency	East Lothian
	tabling member printed	Kenny MacAskill
	uin	22821
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>Pursuant to the answer provided on 18 April 2024 to Question 21846, HM Revenue and Customs is responsible for enforcing and investigating export controls on strategic goods and sanctions and investigating potential breaches of those controls. HM Revenue and Customs does not comment on operational enforcement matters pertaining to specific import or export scenarios.</p><p> </p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 22820 question first answered 24/04/2024 14:24:56 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4772 label Biography information for Kenny MacAskill

1702404

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Financial Services: Environment Protection
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what progress he has made on the UK Green Taxonomy financial proposals.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	22703
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Government remains committed to delivering a UK Green Taxonomy to support an increase in financing for activities supporting the transition to net zero and delivering on UK environmental objectives.</p><p> </p><p>The Government expects to publish the consultation on the UK Green Taxonomy shortly.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 24/04/2024 15:19:34 answering member 4639 label Biography information for Bim Afolami
	tabling member	1409 label Biography information for Mr Gregory Campbell

1702482

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Film and Television: Investment
	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 effectiveness of the (a) Enterprise Investment Scheme and (b) Seed Enterprise Investment Scheme for attracting investment in the screen sector.
	tabling member constituency	Rhondda
	tabling member printed	Sir Chris Bryant
	uin	22707
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The government recognises the importance of the film and TV sector to the UK and is committed to making the UK the best place to invest through our generous and reliable fiscal support, as well as wider business support through our funded bodies like the British Film Commission.</p><p><strong> </strong></p><p>The government keeps all tax-advantaged venture capital schemes under review to ensure they continue to meet their policy objectives in a way that is fair and effective. Information on the Enterprise Investment Scheme and Seed Enterprise Investment Scheme is published annually by HM Revenue and Customs. The data published relates to overall scheme statistics and not sector specific performance.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22708 22709 question first answered 24/04/2024 15:12:29 answering member 4639 label Biography information for Bim Afolami
	tabling member	1446 label Biography information for Sir Chris Bryant

1702484

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Film and Television: Investment
	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 of the impact of changes made to the (a) Enterprise Investment Scheme and (b) Seed Enterprise Investment Scheme on levels of investment in the UK screen sector since 2018.
	tabling member constituency	Rhondda
	tabling member printed	Sir Chris Bryant
	uin	22708
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The government recognises the importance of the film and TV sector to the UK and is committed to making the UK the best place to invest through our generous and reliable fiscal support, as well as wider business support through our funded bodies like the British Film Commission.</p><p><strong> </strong></p><p>The government keeps all tax-advantaged venture capital schemes under review to ensure they continue to meet their policy objectives in a way that is fair and effective. Information on the Enterprise Investment Scheme and Seed Enterprise Investment Scheme is published annually by HM Revenue and Customs. The data published relates to overall scheme statistics and not sector specific performance.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22707 22709 question first answered 24/04/2024 15:12:29 answering member 4639 label Biography information for Bim Afolami
	tabling member	1446 label Biography information for Sir Chris Bryant

1702485

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Film: Investment
	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 levels of private investment in independent UK film production companies through the (a) Enterprise Investment Scheme and (b) Seed Enterprise Investment Scheme between (i) 2012 and 2017 and (ii) 2018 and 2023.
	tabling member constituency	Rhondda
	tabling member printed	Sir Chris Bryant
	uin	22709
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The government recognises the importance of the film and TV sector to the UK and is committed to making the UK the best place to invest through our generous and reliable fiscal support, as well as wider business support through our funded bodies like the British Film Commission.</p><p><strong> </strong></p><p>The government keeps all tax-advantaged venture capital schemes under review to ensure they continue to meet their policy objectives in a way that is fair and effective. Information on the Enterprise Investment Scheme and Seed Enterprise Investment Scheme is published annually by HM Revenue and Customs. The data published relates to overall scheme statistics and not sector specific performance.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22707 22708 question first answered 24/04/2024 15:12:29 answering member 4639 label Biography information for Bim Afolami
	tabling member	1446 label Biography information for Sir Chris Bryant

1702544

	registered interest
	date	19/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Expenditure: Wales
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how much additional funding the Welsh Government received based on updated calculations to the Barnett Formula at the end of the 2023-24 financial year.
	tabling member constituency	Ceredigion
	tabling member printed	Ben Lake
	uin	22782
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The 2021 Spending Review set the largest annual block grant for the Welsh Government, in real terms, of any spending review settlement since the devolution Acts. On top of this the Welsh Government received over £1 billion through the Barnett formula in 2023-24, including £200 million at Supplementary Estimates 2023-24.</p><p> </p><p>The Welsh Government is well-funded to deliver all its devolved responsibilities, receiving around 20% more per person compared to equivalent funding in England. This is around £1 billion more each year than the Holtham Commission indicated – and the Welsh Government agreed - was fair for Wales relative to England.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 24/04/2024 15:18:04 answering member 4780 label Biography information for Laura Trott
	tabling member	4630 label Biography information for Ben Lake

1702111

	registered interest
	date	18/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Post Offices: Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he plans to hold discussions with representatives of the main banks on the potential merits of agreeing a new banking framework with the Post Office for the period after 2025.
	tabling member constituency	East Londonderry
	tabling member printed	Mr Gregory Campbell
	uin	22517
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The Government is supportive of industry initiatives that assist access to in-person banking. These include the Post Office Banking Framework, which allows personal and business customers to carry out everyday banking services at 11,500 Post Office branches across the UK.</p><p>Negotiations between the banking industry and the Post Office regarding any future Banking Framework are commercial discussions and the Government has no role.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/04/2024 10:43:36 answering member 4639 label Biography information for Bim Afolami
	tabling member	1409 label Biography information for Mr Gregory Campbell

1702168

	registered interest
	date	18/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Income Tax: Tax Allowances
	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 impact of freezing the level of the tax-free Personal Allowance on the economy; and if he will make an assessment of the potential merits of increasing this level.
	tabling member constituency	Preston
	tabling member printed	Sir Mark Hendrick
	uin	22481
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Government is committed to keeping taxes low to support people to keep more of what they earn. The Personal Allowance has nearly doubled since 2010 and is over 20% higher in real terms.</p><p> </p><p>As with all aspects of the tax system, the Government keeps the Personal Allowance under review and any decisions on future changes will be made by the Chancellor in the context of the wider public finances.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 24/04/2024 08:51:21 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	473 label Biography information for Sir Mark Hendrick

1702169

	registered interest
	date	18/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	State Retirement Pensions: 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 merits of exempting state pension from tax; and if he will make an assessment of whether state pension should be classified as income.
	tabling member constituency	Preston
	tabling member printed	Sir Mark Hendrick
	uin	22482
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Personal Allowance is currently set at a level high enough to ensure that those pensioners whose sole income is the full rate of the new State Pension or basic State Pension do not pay any income tax.</p><p> </p><p>The Government keeps all aspects of the tax system under review and any decision on future changes will be made by the Chancellor in the context of the wider public finances.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 24/04/2024 08:49:31 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	473 label Biography information for Sir Mark Hendrick

1702296

	registered interest
	date	18/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	National Insurance Contributions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what the value was of (a) Class 1 employee, (b) Class 1 employer, (c) Class 2 and (d) Class 4 self-employed National Insurance Contributions receipts in the 2023-24 financial year.
	tabling member constituency	Ealing North
	tabling member printed	James Murray
	uin	22658
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The Office for Budget Responsibility publishes forecast levels of National Insurance receipts in their Economic and Fiscal Outlook report.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 23/04/2024 12:36:25 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4797 label Biography information for James Murray

1701719

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Climate Change: International Cooperation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether the next round of International Climate Finance from April 2026 has already been allocated under future spending plans.
	tabling member constituency	Chesterfield
	tabling member printed	Mr Toby Perkins
	uin	22291
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The next round of International Climate Finance falls outside of this Spending Review period. Decisions on how spending is allocated after 2024-25, including for International Climate Finance, will be made at a future Spending Review.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 23/04/2024 11:22:04 answering member 4780 label Biography information for Laura Trott
	tabling member	3952 label Biography information for Mr Toby Perkins

1701731

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Childcare: Subsidies
	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 converting the childcare subsidy into an increased tax-free allowance.
	tabling member constituency	North East Hampshire
	tabling member printed	Mr Ranil Jayawardena
	uin	22344
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The Government recognises the importance of supporting parents with the costs of childcare and does so through a range of childcare offers.</p><p>The Government keeps childcare policy under regular review.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 23/04/2024 11:20:50 answering member 4780 label Biography information for Laura Trott
	tabling member	4498 label Biography information for Mr Ranil Jayawardena

1701735

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	House Insurance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will have discussions with the Association of British Insurers on reducing insurance premiums for households.
	tabling member constituency	Oxford West and Abingdon
	tabling member printed	Layla Moran
	uin	22374
	answer	answer is ministerial correction date of answer 22/04/2024 answer text <p>Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors on an ongoing basis.</p><p> </p><p>Insurers make decisions about the terms on which they will offer cover following an assessment of the relevant risks. The Government does not intend to intervene in these commercial decisions as this could damage competition in the market.</p><p> </p><p>However, the Government is determined that insurers should treat customers fairly. The Financial Conduct Authority requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive). The FCA has been clear that it will be monitoring firms to ensure they are providing products that are fair value, and, where necessary, it will take action.</p><p><strong> </strong></p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 22/04/2024 13:11:22 answering member 4639 label Biography information for Bim Afolami
	tabling member	4656 label Biography information for Layla Moran

1701756

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Insurance: Payment Methods
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will hold discussions with the Financial Conduct Authority on the additional costs to consumers of paying (a) vehicle and (b) household insurance in monthly instalments; and if he will make an assessment of the potential impact of such costs on people on lower incomes.
	tabling member constituency	The Wrekin
	tabling member printed	Mark Pritchard
	uin	22282
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors, including the financial services regulators, on an ongoing basis. <br>    <br>The Government does not prescribe the terms, conditions or price that insurance companies set when offering insurance. Insurers make commercial decisions about the pricing of insurance following their assessment of the relevant risks. The Government does not intervene in these decisions as this could damage competition in the market.</p><p>The Financial Conduct Authority (FCA) is the independent regulator responsible for supervising the insurance industry. The FCA requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive). The FCA has been clear that it will be monitoring firms to ensure they are providing products that are fair value, and, where necessary, it will take action.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/04/2024 11:11:51 answering member 4639 label Biography information for Bim Afolami
	tabling member	1576 label Biography information for Mark Pritchard

1701772

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Revenue and Customs: ICT
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Transforming for a digital future: 2022 to 2025 roadmap for digital and data, updated on 29 February 2024, when his Department first assessed each of the red-rated legacy IT systems in HM Revenue and Customs to be red-rated.
	tabling member constituency	Leicester South
	tabling member printed	Jonathan Ashworth
	uin	22310
	answer	answer is ministerial correction date of answer 22/04/2024 answer text <p>The Central Digital and Data Office (CDDO), in the Cabinet Office, has established a programme to support departments managing legacy IT. CDDO has agreed a <a href="https://www.gov.uk/government/publications/guidance-on-the-legacy-it-risk-assessment-framework/guidance-on-the-legacy-it-risk-assessment-framework" target="_blank">framework</a> to identify ‘red-rated’ systems, indicating high levels of risk surrounding certain assets within the IT estate. Departments have committed to have remediation plans in place for these systems by next year (2025).</p><p>It is not appropriate to release sensitive information held about specific, red-rated systems or more detailed plans for remediation within HMRC’s IT estate, as this information could indicate which systems are at risk and may highlight potential security vulnerabilities.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 22/04/2024 16:36:47 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4244 label Biography information for Jonathan Ashworth

1701800

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to help ensure that the new regulatory framework for crypto assets and stablecoins will (a) enhance the UK's global competitiveness in fintech and (b) protect consumers from the volatility and risks associated with digital currencies.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22360
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <ol><li>The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.</li><li>In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.</li><li>As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.</li><li>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.</li></ol> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22361 22362 22363 22364 question first answered 23/04/2024 11:17:55 answering member 4639 label Biography information for Bim Afolami
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701801

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what regulatory measures are in place to ensure the stability and security of investments in cryptocurrencies; and whether any additional measures are being considered.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22361
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <ol><li>The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.</li><li>In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.</li><li>As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.</li><li>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.</li></ol> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22360 22362 22363 22364 question first answered 23/04/2024 11:17:55 answering member 4639 label Biography information for Bim Afolami
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701802

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he plans to issue any (a) guidance or (b) resources to help potential investors understand the risks and benefits associated with cryptocurrency investments.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22362
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <ol><li>The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.</li><li>In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.</li><li>As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.</li><li>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.</li></ol> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22360 22361 22363 22364 question first answered 23/04/2024 11:17:55 answering member 4639 label Biography information for Bim Afolami
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701803

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies and Blockchain
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department has taken to support innovation in blockchain and cryptocurrency technologies while ensuring robust consumer protections.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22363
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <ol><li>The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.</li><li>In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.</li><li>As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.</li><li>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.</li></ol> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22360 22361 22362 22364 question first answered 23/04/2024 11:17:55 answering member 4639 label Biography information for Bim Afolami
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701804

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptocurrencies
	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 estimate of (a) the role and (b) trends in the value of (i) bitcoin and (ii) other major cryptocurrencies in the economy in the next (A) five and (B) 10 years.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22364
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <ol><li>The government is committed to creating a regulatory environment in the UK where firms can innovate, while crucially maintaining financial stability and clear regulatory standards.</li><li>In line with this, the government has already brought cryptoassets into regulation for anti-money laundering and counter-terrorist financing, and financial promotions.</li><li>As a result, the Financial Conduct Authority now regulates and supervises qualifying cryptoasset promotions, with the aim of improving consumers’ understanding of the risks and benefits associated with cryptoasset investments, and ensuring that cryptoasset promotions are held to the same high standards as for broader financial services.</li><li>In October last year, the Treasury published its final proposals for creating the UK’s financial services regulatory regime for cryptoassets.</li></ol> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami grouped question UIN 22360 22361 22362 22363 question first answered 23/04/2024 11:17:55 answering member 4639 label Biography information for Bim Afolami
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701819

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Technology: New Businesses
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what incentives are available to encourage growth strategies among UK tech firms; and whether he plans to take steps to help increase the number of high-value tech companies based in the UK.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22367
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The government is backing British business to drive long-term economic growth by tackling barriers to investment, cutting taxes and rewarding work, and by supporting the priority growth sectors, including digital technology, which are helping to turn the UK into the world’s next Silicon Valley. The UK has Europe’s leading tech ecosystem, valued at over $1trillion, and the government is acting to create the best environment for our most innovative tech companies to start, scale and stay in the UK. This includes making over £3.5 billion of public investment in the AI ecosystem since 2014, extending the sunset clause for the Enterprise Investment Scheme and the Venture Capital Trust scheme to 6 April 2035, making changes to simplify and improve R&amp;D tax reliefs, extending the British Business Bank’s Future Fund: Breakthrough investment programme, and implementing the measures the Chancellor announced at last year’s Mansion House speech to reform the pensions market to unlock investment into high growth sectors and generate increased returns for savers.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 24/04/2024 14:26:40 answering member 4850 label Biography information for Gareth Davies
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701831

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Climate Change: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department has had discussions with the Bank of England on incorporating the impact of climate change in inflation modelling.
	tabling member constituency	Norwich South
	tabling member printed	Clive Lewis
	uin	22346
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The Treasury meet with the Bank of England regularly to discuss their assessment of the economy, inflation and the impact of shocks and structural trends, including climate change.</p><p>The Office for Budget Responsibility (OBR) is the government’s official forecaster. They published their latest assessment of the economic and fiscal outlook (EFO) which includes inflation on 6th March. The Fiscal risks and sustainability report, published in July 2023, included discussion of the long-term impact of climate change on the fiscal position.</p><p>The Bank of England has operational independence over monetary policy and publishes its own forecasts, including for inflation, in its quarterly Monetary Policy Report.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/04/2024 10:47:12 answering member 4639 label Biography information for Bim Afolami
	tabling member	4500 label Biography information for Clive Lewis

1701889

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Self-employed: Self-assessment
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps to support self-employed individuals who may struggle to file their tax returns on time due to economic difficulties; and whether he has made a recent assessment of the potential merits of reforming the penalty system.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22372
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>HMRC is committed to helping all taxpayers pay their taxes and urges anyone having difficulty to make contact as soon as possible. Time to Pay arrangements are available for taxpayers who cannot afford to make full payment of their tax when it is due. Also, a Budget Payment Plan service allows Self Assessment taxpayers to make advance payments. HMRC has recently published YouTube videos on GOV.UK to help the self-employed, including one about ‘How to budget for your Self-Assessment tax bill if you’re self-employed’.</p><p> </p><p>In Spring 2021 the government announced a new points-based penalty regime for regular tax return submission obligations, to replace existing penalties for VAT and Self Assessment. The new approach is fairer, with financial penalties arising only when the failure is consistent. For Self Assessment taxpayers, reformed penalties will begin when they join the Making Tax Digital (MTD) service for Self Assessment from April 2026 onwards.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 24/04/2024 08:45:29 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701912

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Trade with EU: Exports
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential economic impact of the European Commission’s customs reform proposals of 17 May 2023 on exporters to the EU.
	tabling member constituency	Harrow West
	tabling member printed	Gareth Thomas
	uin	22217
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The Government has been engaging with the European Commission including through the UK/EU annual Trade Specialised Committee on Customs Cooperation and Rules of Origin.</p><p> </p><p>The EU has expressed the need for consultation with the UK to take into account potential implications for Northern Ireland.</p><p> </p><p>The Government published an Explanatory Memorandum in August 2023 setting out relevant considerations in relation to the EU’s proposed reforms. As the reforms develop, we will continue to monitor the progress and to assess any potential impacts on UK businesses.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 22218 22219 question first answered 23/04/2024 12:34:09 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	177 label Biography information for Gareth Thomas

1701913

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Trade with EU: Northern Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential economic impact of the European Commission’s proposals on EU customs reform of 17 May 2023 on Northern Ireland, in the context of the Windsor Framework.
	tabling member constituency	Harrow West
	tabling member printed	Gareth Thomas
	uin	22218
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The Government has been engaging with the European Commission including through the UK/EU annual Trade Specialised Committee on Customs Cooperation and Rules of Origin.</p><p> </p><p>The EU has expressed the need for consultation with the UK to take into account potential implications for Northern Ireland.</p><p> </p><p>The Government published an Explanatory Memorandum in August 2023 setting out relevant considerations in relation to the EU’s proposed reforms. As the reforms develop, we will continue to monitor the progress and to assess any potential impacts on UK businesses.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 22217 22219 question first answered 23/04/2024 12:34:09 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	177 label Biography information for Gareth Thomas

1701914

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK Trade with EU: Exports
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has had discussions with her relevant EU counterparts on the potential impact of the European Commission’s customs reform proposal of 17 May 2023 on exporters.
	tabling member constituency	Harrow West
	tabling member printed	Gareth Thomas
	uin	22219
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The Government has been engaging with the European Commission including through the UK/EU annual Trade Specialised Committee on Customs Cooperation and Rules of Origin.</p><p> </p><p>The EU has expressed the need for consultation with the UK to take into account potential implications for Northern Ireland.</p><p> </p><p>The Government published an Explanatory Memorandum in August 2023 setting out relevant considerations in relation to the EU’s proposed reforms. As the reforms develop, we will continue to monitor the progress and to assess any potential impacts on UK businesses.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston grouped question UIN 22217 22218 question first answered 23/04/2024 12:34:09 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	177 label Biography information for Gareth Thomas

1701923

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Stamp Duty Land Tax: Northern Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make it his policy to review the (a) rate of and (b) threshold for Stamp Duty Land Tax in Northern Ireland in the context of trends in average house prices.
	tabling member constituency	Belfast South
	tabling member printed	Claire Hanna
	uin	22417
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The government keeps all tax policy under review and changes are announced at a fiscal event as part of the normal tax policy making process.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 23/04/2024 11:24:37 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4827 label Biography information for Claire Hanna

1701926

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Childcare: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he (a) has had and (b) plans to have discussions with (i) Cabinet colleagues and (ii) relevant stakeholders on the potential merits of increasing the tax free childcare allowance.
	tabling member constituency	Upper Bann
	tabling member printed	Carla Lockhart
	uin	22424
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>HM Treasury work closely with other Government departments and relevant stakeholders on all elements of childcare policy, including Tax-Free Childcare.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 23/04/2024 11:23:18 answering member 4780 label Biography information for Laura Trott
	tabling member	4857 label Biography information for Carla Lockhart

1701953

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Childcare: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 17 April 2024 to Question 21426 on Childcare: Taxation, if he will make it his policy to increase the childcare tax free cap in line with inflation.
	tabling member constituency	Belfast South
	tabling member printed	Claire Hanna
	uin	22418
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The £2,000 Tax-Free Childcare top-up, which can be claimed per year and per child, was set at this level because the Government believes it strikes the right balance between helping parents with their childcare costs, and managing the public finances in a responsible way.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 24/04/2024 08:47:48 answering member 4780 label Biography information for Laura Trott
	tabling member	4827 label Biography information for Claire Hanna

1701980

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Health Insurance: Private Sector
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what steps they are taking to assess and mitigate the impact of private medical insurance fees on the quality and suitability of care provided to patients with private medical insurance.
	tabling member printed	Baroness Merron
	uin	HL3895
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Government is determined that all insurers, including private medical insurers, treat consumers fairly and firms are required to do so under the Financial Conduct Authority’s rules.</p><p> </p><p>The FCA requires insurers to ensure their products offer fair value, meaning the price a consumer pays for a product or service must be reasonable compared to the overall benefits they can expect to receive. The FCA has been clear that it will be monitoring firms to make sure they comply with this rule and will take action where necessary.</p><p> </p><p>All providers of healthcare are regulated by the Care Quality Commission and follow a set of fundamental standards of safety and quality below which care should never fall, while the General Medical Council is responsible for regulating doctors in the United Kingdom.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 24/04/2024 11:43:25 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	347 label Biography information for Baroness Merron

1701992

	registered interest
	date	17/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Advance Pricing Agreements
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government how many advance transfer pricing agreements have been signed by HM Revenue and Customs in each of the past five years.
	tabling member printed	Lord Sikka
	uin	HL3907
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>HM Revenue and Customs has entered into the following number of advance pricing agreements in the past five tax years:</p><ul><li>2018 to 2019: 30</li><li>2019 to 2020: 26</li><li>2020 to 2021: 24</li><li>2021 to 2022: 20</li><li>2022 to 2023: 15</li></ul><p>This information is included in the Transfer Pricing and Diverted Profits Tax Statistics 2022 to 2023 which are publicly available and published on gov.uk[1].</p><p> </p><p>[1] <a href="https://www.gov.uk/government/publications/transfer-pricing-and-diverted-profits-tax-statistics-2022-to-2023/transfer-pricing-and-diverted-profits-tax-statistics-2022-to-2023" target="_blank">Transfer Pricing and Diverted Profits Tax statistics 2022 to 2023 - GOV.UK (www.gov.uk)</a></p><p> </p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 25/04/2024 11:17:19 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	4885 label Biography information for Lord Sikka

1701259

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Departmental Expenditure Limits
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, by how much (a) Resource Departmental Expenditure Limits and (b) Capital Departmental Expenditure Limits will be reduced following the cancellation of the northern leg of HS2 in each affected Department; and if he will publish in which Departments these savings will be made.
	tabling member constituency	Wyre and Preston North
	tabling member printed	Mr Ben Wallace
	uin	21946
	answer	answer is ministerial correction date of answer 19/04/2024 answer text <p>The government has committed to re-invest every penny that is saved from the cancelled phases of HS2 into alternative transport projects through Network North.</p><p>This means that every penny of the £19.8 billion committed to the Northern leg of HS2 will be reinvested in the North; every penny of the £9.6 billion committed to the Midlands leg will be reinvested in the Midlands; and the full £6.5 billion saved through our rescoped approach at Euston will be spread across every other region in the country.</p><p>Departmental Expenditure Limits in 2024-25 are published at the relevant Estimates in the usual way. Departmental budgets beyond 2024-25 will be set as part of the next Spending Review.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 19/04/2024 10:17:56 answering member 4780 label Biography information for Laura Trott
	tabling member	1539 label Biography information for Mr Ben Wallace

1701314

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Treasury: ICT
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Transforming for a digital future: 2022 to 2025 roadmap for digital and data, updated on 29 February 2024, what steps his Department has taken to mitigate the risks of red-rated legacy IT systems.
	tabling member constituency	Leicester South
	tabling member printed	Jonathan Ashworth
	uin	22005
	answer	answer is ministerial correction date of answer 19/04/2024 answer text <p>I refer the hon Member to the answer given on 29 November 23 to <a href="https://questions-statements.parliament.uk/written-questions/detail/2023-11-24/3658" target="_blank">PQ UIN 3658</a>.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 19/04/2024 08:43:08 answering member 4850 label Biography information for Gareth Davies
	tabling member	4244 label Biography information for Jonathan Ashworth

1701490

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Right to Buy Scheme
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what guidance HM Revenue and Customs has issued on to the sale of Right to Buy properties.
	tabling member constituency	Stoke-on-Trent North
	tabling member printed	Jonathan Gullis
	uin	22179
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>HMRC capital gains tax (CGT) guidance in connection with selling a home is available on GOV.UK at <a href="http://www.gov.uk/tax-sell-home" target="_blank">www.gov.uk/tax-sell-home</a>.</p><p> </p><p>Self-assessment Helpsheets 281 and 283 also contain information about the amount of CGT private residence relief available when a person sells a property that has been their only or main residence at some time during their ownership, including how the relief applies to married couples and civil partnerships. These are available, respectively, at <a href="http://www.gov.uk/government/publications/husband-and-wife-civil-partners-divorce-dissolution-and-separation-hs281-self-assessment-helpsheet" target="_blank">www.gov.uk/government/publications/husband-and-wife-civil-partners-divorce-dissolution-and-separation-hs281-self-assessment-helpsheet</a> and <a href="http://www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet" target="_blank">www.gov.uk/government/publications/private-residence-relief-hs283-self-assessment-helpsheet</a>.</p><p> </p><p>More detailed information on CGT is available in HMRC’s Capital Gains Tax Manual at <a href="http://www.gov.uk/hmrc-internal-manuals/capital-gains-manual" target="_blank">www.gov.uk/hmrc-internal-manuals/capital-gains-manual</a>.</p><p> </p><p>There are no separate CGT rules for properties acquired under the Right to Buy arrangements.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 23/04/2024 11:07:57 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4814 label Biography information for Jonathan Gullis

1701550

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Holiday Accommodation: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, with reference to paragraph 5.67, page 75 of the Spring Budget 2024, what assessment he has made of the potential impact of the abolition of the Furnished Holiday Lettings tax regime on the number of businesses that will (a) continue as short-term holiday lets, (b) become longer term rental properties and (c) sell the property in question.
	tabling member constituency	North West Norfolk
	tabling member printed	James Wild
	uin	22169
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Government has announced that it will abolish the Furnished Holiday Lettings (FHL) tax regime from April 2025.</p><p> </p><p>The Government will publish draft legislation, explanatory notes, and a tax information and impacts note in due course.</p><p> </p><p>As with all aspects of tax policy, the Government keeps the taxation of property landlords under review and any decisions on future changes will be taken by the Chancellor in the context of the wider public finances.</p> answering member constituency Mid Worcestershire answering member printed Nigel Huddleston question first answered 24/04/2024 14:22:05 answering member 4407 label Biography information for Nigel Huddleston
	tabling member	4787 label Biography information for James Wild

1701571

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Iran: Israel
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of the conflict between Iran and Israel on (a) global economic stability, (b) oil prices and (c) inflation.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22107
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>HM Treasury is monitoring the situation closely following Iran’s attack against Israel. The UK is working urgently with our allies to de-escalate the situation.</p><p> </p><p>The Office for Budget Responsibility (OBR) estimated the potential UK economic impacts of a widening of conflict in the Middle East in their March 2024 Economic and Fiscal Outlook (<a href="https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/" target="_blank">https://obr.uk/efo/economic-and-fiscal-outlook-march-2024/</a> ).</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 23/04/2024 10:58:32 answering member 4639 label Biography information for Bim Afolami
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701575

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Motor Vehicles: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has plans to use revenue raised through the increase in car tax from 1 April 2024 to support (a) public transport and (b) environmental initiatives.
	tabling member constituency	Slough
	tabling member printed	Mr Tanmanjeet Singh Dhesi
	uin	22111
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Consolidated Fund receives the proceeds of Vehicle Excise Duty (VED) and most other tax revenues. VED is being reinvested into the English road network between 2020-2025 to fund road enhancement projects. The Government uses the tax system to encourage the uptake of cars with low carbon dioxide (CO2) emissions to help meet our legally binding climate change targets.</p><p> </p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 24/04/2024 14:20:15 answering member 4850 label Biography information for Gareth Davies
	tabling member	4638 label Biography information for Mr Tanmanjeet Singh Dhesi

1701603

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank of England: Forecasts
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what assessment they have made of the review of Bank of England forecasting led by Ben Bernanke.
	tabling member printed	Lord Allen of Kensington
	uin	HL3834
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Bank of England has operational independence from the government to carry out its statutory responsibilities for monetary policy and financial stability. The government’s commitment to this independence remains absolute.</p><p> </p> answering member printed Baroness Vere of Norbiton question first answered 24/04/2024 11:40:35 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	4304 label Biography information for Lord Allen of Kensington

1701638

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cost of Living
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what assessment they have made of the findings of the Financial Conduct Authority survey indicating an increase in adults across the UK struggling to pay bills due to the high cost of living, and what steps they are taking to help individuals and families facing financial difficulties.
	tabling member printed	Lord Taylor of Warwick
	uin	HL3869
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The FCA’s 2024 Cost of Living survey found a reduction in the number of people finding it hard to manage higher costs of living since January 2023.</p><p> </p><p>The government has already provided support to help with the cost of living totalling £96 billion from 2022-23 to 2023-2024 – an average of £3400 per UK household.</p><p> </p><p>Further actions taken by the government in 2024-25 include: a rise in the National Living Wage (NLW) by 9.8% - ending low hourly pay for workers on the NLW, raising Local Housing Allowance to the 30<sup>th</sup> percentile of market rents, uprating working-age benefits by 6.7%, freezing fuel duty, removing Debt Relief Order fees, and doubling the Budgeting Advance Loan repayment period.</p> answering member printed Baroness Vere of Norbiton question first answered 24/04/2024 11:42:45 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1701639

	registered interest
	date	16/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Economic Situation
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what steps they are taking to sustain the momentum of the economic recovery following indications that GDP increased in January and February.
	tabling member printed	Lord Taylor of Warwick
	uin	HL3870
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>To sustain economic growth momentum, the government is continuing to pursue an ambitious policy agenda to increase growth and productivity across the economy. The OBR expects that policies announced at the previous three fiscal events will increase the size of the economy by 0.7% by 2028-29.</p><p> </p><p>In addition to making full expensing permanent, a tax cut to companies of over £10 billion a year, the government has announced measures to boost labour supply, which the OBR predicts will increase the number of hours worked by the equivalent of over 300,000 full-time workers by the end of the forecast period.</p> answering member printed Baroness Vere of Norbiton question first answered 24/04/2024 11:42:00 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1700697

	registered interest
	date	15/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	UK-EU Trade and Cooperation Agreement
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government, further to remarks by Baroness Vere of Norbiton on 21 February (HL Deb col 666) with regard to the Trade and Cooperation Agreement in the context of engaging with the EU for approval for extending the enterprise investment scheme (EIS) and venture capital trust (VCT) scheme, whether the subsidy control provisions of the Trade and Cooperation Agreement apply to EIS and VCT relief, in particular the requirement under Article 363 of that agreement that a subsidy must be selective.
	tabling member printed	Lord Leigh of Hurley
	uin	HL3766
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The government is extending the sunset clause for the Enterprise Investment Scheme (EIS) and the Venture Capital Trust (VCT) scheme to 2035.</p><p>The UK-EU Trade and Cooperation Agreement is now the primary framework governing subsidy control between the UK and EU. As such, EU State aid rules no longer apply to the UK, save for the limited circumstances covered by the Windsor Framework.</p><p>For the EIS and VCT schemes, the government is engaging with the EU, under the Windsor Framework, due to Northern Ireland’s unique access to the EU Single Market.</p> answering member printed Baroness Vere of Norbiton question first answered 25/04/2024 10:33:32 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	4295 label Biography information for Lord Leigh of Hurley

1700735

	registered interest
	date	15/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	National Insurance Contributions
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 8 April (HL3589), whether they will now answer the question put; namely, what is their assessment of the implications for calculating entitlement to contributory working age benefits and pensions of abolishing, rather than cutting, national insurance contributions.
	tabling member printed	Baroness Lister of Burtersett
	uin	HL3770
	answer	answer is ministerial correction date of answer 25/04/2024 answer text <p>The Government already cut employee NICs by 4p, self-employed NICs by 3p and abolished the requirement to pay Class 2 for self-employed people across Autumn and Spring without increasing borrowing or cutting spending. That is the model the Government wants to follow when it is prudent to go further.</p><p> </p><p>The ambition to abolish NICs is about reducing tax and rewarding work, not about reforming the contributory benefits system. It is a long-term ambition, and the Government has been clear, this cannot be done overnight and this can only be done in a fiscally responsible way.</p><p> </p><p>Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.</p> answering member printed Baroness Vere of Norbiton question first answered 25/04/2024 10:35:56 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	4234 label Biography information for Baroness Lister of Burtersett

1700761

	registered interest
	date	15/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Personal Savings
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government, following the findings of the Financial Conduct Authority survey indicating a decrease in savings and investing among UK adults, what steps they are taking to help individuals and families save and invest.
	tabling member printed	Lord Taylor of Warwick
	uin	HL3813
	answer	answer is ministerial correction date of answer 24/04/2024 answer text <p>The Government is committed to incentivising greater saving and investment, to help hard working people save for their future goals and build greater financial resilience.</p><p> </p><p>The Help to Save scheme was launched in September 2018 and is intended to promote financial resilience among working households on low incomes by supporting them to kickstart a regular, long-term savings habit and build a financial buffer for a rainy day.</p><p>Individuals can also save up to £20,000 into an Individual Savings Account (ISA) each year, and any savings income received within an ISA is tax free. This, along with the Personal Savings Allowance of up to £1,000 for basic rate taxpayers means that around 85% of people with savings income pay no tax on that income.</p><p> </p><p>However, the Government also recognises that people need support to make effective investment decisions. This is why the Government and FCA are working on a joint review of the boundary between financial advice and guidance to ensure people can access appropriate support with their financial decision-making.</p> answering member printed Baroness Vere of Norbiton question first answered 24/04/2024 14:44:04 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	1796 label Biography information for Lord Taylor of Warwick

1700781

	registered interest
	date	15/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Multiple Occupation: Stamp Duty Land Tax
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what discussions they had with the "build to rent" sector to understand the impact of the proposed abolition of the Stamp Duty Land Tax Multiple Dwellings Relief announced in the Spring Budget, beyond the consultation from November 2021 to February 2022.
	tabling member printed	Lord Moylan
	uin	HL3777
	answer	answer is ministerial correction date of answer 23/04/2024 answer text <p>The abolition of Multiple Dwellings Relief follows an external evaluation which found no strong evidence the relief is meeting its original objectives of supporting investment in the private rented sector.</p><p>Larger investors who purchase 6 or more properties in a single transaction can still continue to benefit from the non-residential rates of Stamp Duty Land Tax.</p><p>The government will continue to engage with stakeholders in the build to rent sector to understand any concerns.</p> answering member printed Baroness Vere of Norbiton question first answered 23/04/2024 11:35:03 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	4883 label Biography information for Lord Moylan