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1136093

registered interest
date	02/07/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Digital Technology
house id	1
legislature	25259 pref label House of Commons
question text	What fiscal steps he is taking to grow the digital economy.
tabling member constituency	Walsall North
tabling member printed	Eddie Hughes
uin	911693
answer	answer is ministerial correction date of answer 02/07/2019 answer text <p>The UK's digital economy is thriving - growing ten times as fast as the wider economy - and we are pursuing a range of measures to reinforce its world-leading position. These include:</p><ul><li>Implementing a 10-year action plan to unlock over £20 billion to finance growth in innovative firms;</li><li>Committing a further £7 billion for research and development since 2016, with major investments in artificial intelligence and quantum technologies; and</li><li>Providing internationally competitive research and development tax reliefs to support investment.</li></ul><p>We are also embracing the opportunities presented by Distributed Ledger Technologies, including by:</p><ul><li>Investing over £10 million through Innovate UK and the research councils; and</li><li>Creating the £20 million GovTech Catalyst Fund, to explore technology-based solutions for public sector challenges.</li></ul> answering member constituency Newark answering member printed Robert Jenrick question first answered 02/07/2019 15:33:01 answering member 4320 label Biography information for Robert Jenrick
tabling member	4635 label Biography information for Eddie Hughes

1060793

registered interest
date	13/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Revenue and Customs: Automation
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, when small businesses will be able to automate the payment to HMRC of National Insurance and PAYE for employees.
tabling member constituency	Walsall North
tabling member printed	Eddie Hughes
uin	221008
answer	answer is ministerial correction date of answer 22/02/2019 answer text <p>HMRC currently enables employers to pay their PAYE/NIC liability by Direct Debit. Guidance on how to do this can be found on the gov.uk website at <a href="https://www.gov.uk/pay-paye-tax/direct-debit" target="_blank">https://www.gov.uk/pay-paye-tax/direct-debit</a>.</p><p> </p><p>Employers can currently only make single Direct Debit payments, meaning they must set up a payment each time they pay. This is because the amount owed can include elements which do not have to be reported to HMRC until too close to the payment deadline to allow us to automatically collect by Direct Debit.</p><p> </p><p>HMRC recognises the benefits of payment by Direct Debit and will continue to look at how to enable customers to set up ongoing Direct Debit arrangements.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 22/02/2019 12:14:15 answering member 3935 label Biography information for Mel Stride
tabling member	4635 label Biography information for Eddie Hughes

1051412

registered interest
date	30/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Customs: Distributed Ledger Technology
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, pursuant to the Answer of 19 February 2018 to Question 128296 on Brexit, if he will provide an update on (a) the potential use of distributed ledger technology for any new customs system after the UK leaves the EU and (b) the outcome of the proof of concept trials referenced in the Answer.
tabling member constituency	Walsall North
tabling member printed	Eddie Hughes
uin	214643
answer	answer is ministerial correction date of answer 07/02/2019 answer text <p>The pilot focussed on building a single ‘permissioned’ Blockchain that could be used to inform a trader’s ‘Authorised Economic Operator’ status. The proof of concept ran for six weeks, and established that government could use Blockchain to securely share the results of sensitive risk checks to improve the efficiencies of certain customs processes.</p><p> </p><p>Any significant implementation of Blockchain would require significant further work by HMRC. Further work on the application of Blockchain to ‘Authorised Economic Operator’ status is deferred until after the UK leaves the EU when timescales and cost will be revisited.</p><p> </p><p>We are working with the cross government Future Borders Programme to progress the pilot as part of their Trusted Trader initiative</p><p> </p> answering member constituency Central Devon answering member printed Mel Stride question first answered 07/02/2019 15:01:12 answering member 3935 label Biography information for Mel Stride
tabling member	4635 label Biography information for Eddie Hughes

1037836

registered interest
date	08/01/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Distributed Ledger Technology
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what (a) fiscal and (b) regulatory steps his Department is taking to (i) support UK and (ii) encourage overseas blockchain and crypto-based companies establish themselves in the UK.
tabling member constituency	Walsall North
tabling member printed	Eddie Hughes
uin	206446
answer	answer is ministerial correction date of answer 11/01/2019 answer text <p>The Government has invested over £10 million through Innovate UK and the research councils to support a wide variety of DLT related projects. The Government has also created a £20 million GovTech Catalyst Fund to explore technology-based solutions for public sector challenges, potentially including the use of DLT.</p><p> </p><p>The Government set out its approach to cryptoassets and the underlying distributed ledger technology (DLT) in the report of the Cryptoassets Taskforce<sub><sub>[1]</sub></sub>. The Government wants to encourage responsible development of legitimate distributed ledger technology (DLT) and cryptoasset-related activity in the UK, while also mitigating risks.</p><p> </p><p>The financial regulators continue to provide a platform that facilitates innovation and the development of new technologies in the financial system. For example, the Financial Conduct Authority has accepted a significant number of DLT-based projects into its Regulatory Sandbox. The Bank of England has also committed to ensure that its new RTGS service will be compatible with DLT-based payment systems.</p><p>[1] The full report of the HM Treasury/Financial Conduct Authority/Bank of England Cryptoassets Taskforce is available here: https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/752070/cryptoassets_taskforce_final_report_final_web.pdf</p> answering member constituency Salisbury answering member printed John Glen question first answered 11/01/2019 11:18:43 answering member 4051 label Biography information for John Glen
tabling member	4635 label Biography information for Eddie Hughes

845722

registered interest
date	20/02/2018
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Cryptocurrencies: Taxation
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 potential benefits of using blockchain for (a) the tax system and (b) the customs and excise system; and if he will make a statement.
tabling member constituency	Walsall North
tabling member printed	Eddie Hughes
uin	128694
answer	answer is ministerial correction date of answer 28/02/2018 answer text <p>HM Revenue and Customs are considering the use of blockchain alongside other technical options for both tax and customs and excise systems.</p> answering member constituency Central Devon answering member printed Mel Stride question first answered 28/02/2018 12:57:34 answering member 3935 label Biography information for Mel Stride
tabling member	4635 label Biography information for Eddie Hughes