Show Search Form

Search Results

registered interest	true false
date	exactly: or between: and
answering body
answering dept id
answering dept short name
answering dept sort name
hansard heading
house id
legislature	pref label
question text
tabling member constituency
tabling member printed
uin
answer	is ministerial correction true false date of answer exactly: or between: and answer text answering member constituency answering member printed question first answered answering member label
tabling member	label

Search

431610

	registered interest
	date	23/11/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Small Businesses: Finance
	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 effectiveness of the bank referral scheme announced in the 2015 Budget in providing accessible finance to small and medium-seized enterprises.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	17360
	answer	answer is ministerial correction date of answer 01/12/2015 answer text <p>The bank referral scheme is not yet up and running but the Government is committed to delivering this policy which will help small and medium sized enterprises access the finance they need to grow and expand.</p><br /><p>Since the Government announced the Finance Platform policy at Budget 2014 significant progress on implementation has been made. The Government has consulted, passed primary legislation and is now close to making secondary legislation.</p><br /><p>The British Business Bank is currently undertaking a due diligence process on Finance Platforms that have expressed an interest in becoming designated and will advise HM Treasury on designation in the Spring; with the policy expected to ‘go live’ later in 2016.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 01/12/2015 17:09:59 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

511296

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

100672

	registered interest
	date	23/10/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tax Allowances: Business
	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 potential costs and benefits of removing the cap on entrepreneurs' tax relief.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	211741
	answer	answer is ministerial correction date of answer 30/10/2014 answer text <p>The last published cost for changing the cap on entrepreneurs' tax relief related to increasing the lifetime limit from £5m of qualifying gains to £10m. This is available in the full Budget 2011 document at the following address on page 42 in table 2.1 of the report.</p><p> </p><p> </p><p><a href="http://webarchive.nationalarchives.gov.uk/20130129110402/http:/www.hm-treasury.gov.uk/2011budget.htm" target="_blank">http://webarchive.nationalarchives.gov.uk/20130129110402/http://www.hm-treasury.gov.uk/2011budget.htm</a></p> answering member constituency South West Hertfordshire answering member printed Mr David Gauke question first answered 30/10/2014 17:10:28 answering member 1529 label Biography information for Mr David Gauke
	tabling member	1586 label Biography information for Adam Afriyie

520628

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

850750

	registered interest
	date	27/02/2018
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of RegTech's potential effect on reducing the administrative burden of regulation.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	129986
	answer	answer is ministerial correction date of answer 07/03/2018 answer text <p>RegTech has significant potential to reduce the administrative burden of regulation. The Financial Conduct Authority is already aware of the opportunities associated with RegTech, and have run a series of ‘tech sprints’ intended to address specific industry challenges.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 07/03/2018 13:47:09 answering member 4051 label Biography information for John Glen
	tabling member	1586 label Biography information for Adam Afriyie

428507

	registered interest
	date	16/11/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Bank Services
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the availability of bank accounts for (a) crowd funding and (b) digital currency businesses.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	16372
	answer	answer is ministerial correction date of answer 23/11/2015 answer text <p>As the Chancellor announced at the Budget in March, the Government intends to bring digital currency exchanges into the scope of anti-money laundering regulation. The digital currency industry has highlighted the current lack of regulation as one of the obstacles firms face when trying to get bank accounts in the UK. The new regulatory regime will be designed to support firms’ access to these vital banking services, and to foster an environment in which legitimate digital currency businesses can flourish in the UK. The Treasury will consult on the detail of regulation shortly.</p><br /><p>The Government has supported the crowdfunding industry by consulting on whether to extend ISA eligibility to debt and equity crowdfunding and helping equity crowdfunding through the tax efficient Enterprise Investment Scheme (EIS) – without which 24% of investors say they would not have invested.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 23/11/2015 11:47:50 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie

50009

	registered interest
	date	06/05/2014
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what discussions his Department has had with the Home Office on the economic effect of the Tier 1 (Investor) visa; and if he will make a statement.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	197732
	answer	answer is ministerial correction date of answer 12/05/2014 answer text <p>Treasury Ministers and officials have regular discussions with the Home Office on a wide variety of topics as part of the process of policy development and delivery.</p> answering member constituency Inverness, Nairn, Badenoch and Strathspey answering member printed Danny Alexander question first answered 12/05/2014 12:00:00 answering member 1535 label Biography information for Danny Alexander
	tabling member	1586 label Biography information for Adam Afriyie

79007

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

705878

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

419038

	registered interest
	date	16/09/2015
	answering body	HM Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	CaTreasury
	hansard heading	Financial Services: Regulation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask Mr Chancellor of the Exchequer, what plans he has to bring forward legislation to regulate (a) digital currencies, (b) crowdfunding and (c) peer-to-peer lending.
	tabling member constituency	Windsor
	tabling member printed	Adam Afriyie
	uin	10491
	answer	answer is ministerial correction date of answer 12/10/2015 answer text <p>At the March Budget, the Government said it would consult on how to regulate digital currency exchanges in the new Parliament.</p><p>Operating a P2P platform has been an activity regulated by the Financial Conduct Authority (FCA) since 2014. Crowdfunding is also a Regulated Activity and is subject to FCA rules.</p> answering member constituency West Worcestershire answering member printed Harriett Baldwin question first answered 12/10/2015 14:17:54 answering member 4107 label Biography information for Dame Harriett Baldwin
	tabling member	1586 label Biography information for Adam Afriyie