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1650308

registered interest
date	05/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	EU Emissions Trading Scheme: Aviation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, whether he plans to use funds raised from the removal of Emissions Trading Scheme free allocations for airlines to support the aviation industry to decarbonise.
tabling member constituency	Crawley
tabling member printed	Henry Smith
uin	192513
answer	answer is ministerial correction date of answer 11/07/2023 answer text On July 3, the UK ETS Authority announced free allocation will be withdrawn from airline operators participating in the Emissions Trading Scheme after 2026. Operators will then be required to purchase allowances to cover their emissions fully.<p> </p><p>The UK ETS Authority also announced that the overall number of allowances sold under the Emissions Trading Scheme will fall to be on a trajectory consistent with Net Zero. This takes the decline of free allocation to the aviation sector into account. That means that overall, no additional revenue will be raised from removing free allocations for airlines.</p><p> </p><p>Revenue from the sale of allowances is used to support the Government’s wider priorities, including net zero policies.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 11/07/2023 09:55:45 answering member 4850 label Biography information for Gareth Davies
tabling member	3960 label Biography information for Henry Smith

1650480

registered interest
date	05/07/2023
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Tourism: VAT
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent estimate he has made of the fiscal impact on economy of the removal of tax-free shopping for overseas visitors in summer 2023.
tabling member constituency	Crawley
tabling member printed	Henry Smith
uin	192514
answer	answer is ministerial correction date of answer 11/07/2023 answer text <p>The Government engaged with varied stakeholders and produced analysis on the cost of the VAT Retail Export Scheme (RES) before withdrawing it. Our analysis, which took increased tourist spending into account, found that introducing worldwide VAT-free shopping would come at a fiscal cost of £2 billion each year.</p><p> </p><p>Furthermore, the OBR’s assessment of the previous VAT RES shopping scheme showed that its withdrawal would have a limited behavioural effect on decisions to visit, or spend, in the UK.</p><p> </p><p>Although there are no plans to re-introduce VAT RES, the Government keeps all taxes under review and welcomes representations to help inform future decisions on tax policy, as part of the tax policy making cycle and Budget process.</p><p> </p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 11/07/2023 09:52:18 answering member 4850 label Biography information for Gareth Davies
tabling member	3960 label Biography information for Henry Smith