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1523833
registered interest false more like this
date less than 2022-10-18more like thismore than 2022-10-18
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Bank Services: Urban Areas more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what estimate he has made of the number of designated high street areas without a bank branch. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 65889 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-25more like thismore than 2022-10-25
answer text The way people bank in the UK continues to develop at pace, with more consumers and businesses than ever enjoying the convenience, security, and speed of digital banking. In 2021, 86% of UK adults used a form of remote banking, such as an app, online or on the phone. Banking customers have never had more choice in how they fit their banking into their everyday lives.<p> </p><p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. However, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions or make direct assessments of these branch networks.</p><p /><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches or free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers (including charities) and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.  The FCA expects firms to exercise particular care with vulnerable customers, such as those who are elderly, disabled or have low financial capability, and the guidance has recently been strengthened to enhance protections for consumers that rely on branch services.</p><p> </p><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers (including charities) to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared bank hubs are also being piloted, providing basic banking services and dedicated space where community bankers from major banks can meet customers of that bank.</p><p> </p><p>As part of the Financial Services and Markets Bill 2022, the Government has introduced legislation to protect access to cash. The Bill protects access to cash by establishing the Financial Conduct Authority as the lead regulator and providing it with appropriate powers to ensure reasonable provision of withdrawal and deposit facilities. These powers will allow the FCA to take account of factors it considers appropriate for seeking to ensure there is reasonable provision of cash access services, this could include factors such as the appropriateness of facilities for people in vulnerable groups.</p>
answering member constituency Arundel and South Downs more like this
answering member printed Andrew Griffith more like this
grouped question UIN
65890 more like this
65891 more like this
65892 more like this
65893 more like this
question first answered
less than 2022-10-25T13:40:48.287Zmore like thismore than 2022-10-25T13:40:48.287Z
answering member
4874
label Biography information for Andrew Griffith more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1523834
registered interest false more like this
date less than 2022-10-18more like thismore than 2022-10-18
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Banks: Closures more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what estimate he has made of the number of bank branches which closed in (a) London and (b) England in each year since 2015. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 65890 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-25more like thismore than 2022-10-25
answer text The way people bank in the UK continues to develop at pace, with more consumers and businesses than ever enjoying the convenience, security, and speed of digital banking. In 2021, 86% of UK adults used a form of remote banking, such as an app, online or on the phone. Banking customers have never had more choice in how they fit their banking into their everyday lives.<p> </p><p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. However, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions or make direct assessments of these branch networks.</p><p /><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches or free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers (including charities) and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.  The FCA expects firms to exercise particular care with vulnerable customers, such as those who are elderly, disabled or have low financial capability, and the guidance has recently been strengthened to enhance protections for consumers that rely on branch services.</p><p> </p><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers (including charities) to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared bank hubs are also being piloted, providing basic banking services and dedicated space where community bankers from major banks can meet customers of that bank.</p><p> </p><p>As part of the Financial Services and Markets Bill 2022, the Government has introduced legislation to protect access to cash. The Bill protects access to cash by establishing the Financial Conduct Authority as the lead regulator and providing it with appropriate powers to ensure reasonable provision of withdrawal and deposit facilities. These powers will allow the FCA to take account of factors it considers appropriate for seeking to ensure there is reasonable provision of cash access services, this could include factors such as the appropriateness of facilities for people in vulnerable groups.</p>
answering member constituency Arundel and South Downs more like this
answering member printed Andrew Griffith more like this
grouped question UIN
65889 more like this
65891 more like this
65892 more like this
65893 more like this
question first answered
less than 2022-10-25T13:40:48.35Zmore like thismore than 2022-10-25T13:40:48.35Z
answering member
4874
label Biography information for Andrew Griffith more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1523835
registered interest false more like this
date less than 2022-10-18more like thismore than 2022-10-18
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Bank Services and Money: Older People more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what recent assessment he has made of access to (a) cash and (b) banking services for elderly people. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 65891 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-25more like thismore than 2022-10-25
answer text The way people bank in the UK continues to develop at pace, with more consumers and businesses than ever enjoying the convenience, security, and speed of digital banking. In 2021, 86% of UK adults used a form of remote banking, such as an app, online or on the phone. Banking customers have never had more choice in how they fit their banking into their everyday lives.<p> </p><p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. However, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions or make direct assessments of these branch networks.</p><p /><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches or free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers (including charities) and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.  The FCA expects firms to exercise particular care with vulnerable customers, such as those who are elderly, disabled or have low financial capability, and the guidance has recently been strengthened to enhance protections for consumers that rely on branch services.</p><p> </p><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers (including charities) to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared bank hubs are also being piloted, providing basic banking services and dedicated space where community bankers from major banks can meet customers of that bank.</p><p> </p><p>As part of the Financial Services and Markets Bill 2022, the Government has introduced legislation to protect access to cash. The Bill protects access to cash by establishing the Financial Conduct Authority as the lead regulator and providing it with appropriate powers to ensure reasonable provision of withdrawal and deposit facilities. These powers will allow the FCA to take account of factors it considers appropriate for seeking to ensure there is reasonable provision of cash access services, this could include factors such as the appropriateness of facilities for people in vulnerable groups.</p>
answering member constituency Arundel and South Downs more like this
answering member printed Andrew Griffith more like this
grouped question UIN
65889 more like this
65890 more like this
65892 more like this
65893 more like this
question first answered
less than 2022-10-25T13:40:48.427Zmore like thismore than 2022-10-25T13:40:48.427Z
answering member
4874
label Biography information for Andrew Griffith more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1523836
registered interest false more like this
date less than 2022-10-18more like thismore than 2022-10-18
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Bank Services and Money: Disability more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what recent assessment he has made of access to (a) cash and (b) banking services for disabled people. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 65892 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-25more like thismore than 2022-10-25
answer text The way people bank in the UK continues to develop at pace, with more consumers and businesses than ever enjoying the convenience, security, and speed of digital banking. In 2021, 86% of UK adults used a form of remote banking, such as an app, online or on the phone. Banking customers have never had more choice in how they fit their banking into their everyday lives.<p> </p><p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. However, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions or make direct assessments of these branch networks.</p><p /><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches or free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers (including charities) and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.  The FCA expects firms to exercise particular care with vulnerable customers, such as those who are elderly, disabled or have low financial capability, and the guidance has recently been strengthened to enhance protections for consumers that rely on branch services.</p><p> </p><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers (including charities) to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared bank hubs are also being piloted, providing basic banking services and dedicated space where community bankers from major banks can meet customers of that bank.</p><p> </p><p>As part of the Financial Services and Markets Bill 2022, the Government has introduced legislation to protect access to cash. The Bill protects access to cash by establishing the Financial Conduct Authority as the lead regulator and providing it with appropriate powers to ensure reasonable provision of withdrawal and deposit facilities. These powers will allow the FCA to take account of factors it considers appropriate for seeking to ensure there is reasonable provision of cash access services, this could include factors such as the appropriateness of facilities for people in vulnerable groups.</p>
answering member constituency Arundel and South Downs more like this
answering member printed Andrew Griffith more like this
grouped question UIN
65889 more like this
65890 more like this
65891 more like this
65893 more like this
question first answered
less than 2022-10-25T13:40:48.457Zmore like thismore than 2022-10-25T13:40:48.457Z
answering member
4874
label Biography information for Andrew Griffith more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1523837
registered interest false more like this
date less than 2022-10-18more like thismore than 2022-10-18
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Bank Services: Charities more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of the impact of bank branch closures on charity collections and revenue. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 65893 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-25more like thismore than 2022-10-25
answer text The way people bank in the UK continues to develop at pace, with more consumers and businesses than ever enjoying the convenience, security, and speed of digital banking. In 2021, 86% of UK adults used a form of remote banking, such as an app, online or on the phone. Banking customers have never had more choice in how they fit their banking into their everyday lives.<p> </p><p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. However, decisions on opening and closing branches are a commercial issue for banks and building societies. The Government does not intervene in these decisions or make direct assessments of these branch networks.</p><p /><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches or free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers (including charities) and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.  The FCA expects firms to exercise particular care with vulnerable customers, such as those who are elderly, disabled or have low financial capability, and the guidance has recently been strengthened to enhance protections for consumers that rely on branch services.</p><p> </p><p>Alternative options for access can be via telephone banking, through digital means such as mobile or online banking, and the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business banking customers (including charities) to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared bank hubs are also being piloted, providing basic banking services and dedicated space where community bankers from major banks can meet customers of that bank.</p><p> </p><p>As part of the Financial Services and Markets Bill 2022, the Government has introduced legislation to protect access to cash. The Bill protects access to cash by establishing the Financial Conduct Authority as the lead regulator and providing it with appropriate powers to ensure reasonable provision of withdrawal and deposit facilities. These powers will allow the FCA to take account of factors it considers appropriate for seeking to ensure there is reasonable provision of cash access services, this could include factors such as the appropriateness of facilities for people in vulnerable groups.</p>
answering member constituency Arundel and South Downs more like this
answering member printed Andrew Griffith more like this
grouped question UIN
65889 more like this
65890 more like this
65891 more like this
65892 more like this
question first answered
less than 2022-10-25T13:40:48.52Zmore like thismore than 2022-10-25T13:40:48.52Z
answering member
4874
label Biography information for Andrew Griffith more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1487425
registered interest false more like this
date less than 2022-07-07more like thismore than 2022-07-07
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Children: Day Care more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what the (a) forecast and (b) actual expenditure was for the tax free childcare scheme in 2021-22. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 32591 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-07-12more like thismore than 2022-07-12
answer text <p>The Government is committed to supporting families with their childcare costs through Tax-Free Childcare and we are continuing to encourage eligible families to sign up for it. Take-up of Tax-Free Childcare is on a steady upward trajectory and has continued to increase despite the covid-19 pandemic. At the end of March 2022 (the most recent data) an estimated 384,000 families used Tax-Free Childcare for 458,000 children, compared to 328,000 families for 384,000 children in December 2021. The Government spent £43 million on Tax-Free Childcare top-up for families in March 2022.</p><p> </p><p>Actual spend on Tax-Free Childcare in financial year 2021/22 was above forecast. At the Spring 2021 Budget, the forecast expenditure for Tax-Free Childcare in 2021/22 was £0.39bn. Tax-Free Childcare expenditure in 2021/22 was £0.41bn.</p><p> </p><p>Government spending on Tax-Free Childcare was below forecast for the financial years 2017/18 to 2020/21. When many childcare settings were closed in 2020 and 2021 due to the covid-19 pandemic, the Government brought easements into Tax-Free Childcare, 30 hours and Working Tax Credit childcare support offers, allowing parents to remain eligible for these offers despite potential changes to their circumstances due to covid-19.</p><p> </p><p>The Government is also driving a renewed campaign – via the Childcare Choices website - so parents can access the support they are entitled to. This will also encourage providers to take the necessary steps to offer the full range of childcare support to parents.</p>
answering member constituency Middlesbrough South and East Cleveland more like this
answering member printed Mr Simon Clarke more like this
grouped question UIN 32592 more like this
question first answered
less than 2022-07-12T16:44:48.897Zmore like thismore than 2022-07-12T16:44:48.897Z
answering member
4655
label Biography information for Sir Simon Clarke more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1487426
registered interest false more like this
date less than 2022-07-07more like thismore than 2022-07-07
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Children: Day Care more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of how underspend on tax free childcare has been used in each of the last five years. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 32592 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-07-12more like thismore than 2022-07-12
answer text <p>The Government is committed to supporting families with their childcare costs through Tax-Free Childcare and we are continuing to encourage eligible families to sign up for it. Take-up of Tax-Free Childcare is on a steady upward trajectory and has continued to increase despite the covid-19 pandemic. At the end of March 2022 (the most recent data) an estimated 384,000 families used Tax-Free Childcare for 458,000 children, compared to 328,000 families for 384,000 children in December 2021. The Government spent £43 million on Tax-Free Childcare top-up for families in March 2022.</p><p> </p><p>Actual spend on Tax-Free Childcare in financial year 2021/22 was above forecast. At the Spring 2021 Budget, the forecast expenditure for Tax-Free Childcare in 2021/22 was £0.39bn. Tax-Free Childcare expenditure in 2021/22 was £0.41bn.</p><p> </p><p>Government spending on Tax-Free Childcare was below forecast for the financial years 2017/18 to 2020/21. When many childcare settings were closed in 2020 and 2021 due to the covid-19 pandemic, the Government brought easements into Tax-Free Childcare, 30 hours and Working Tax Credit childcare support offers, allowing parents to remain eligible for these offers despite potential changes to their circumstances due to covid-19.</p><p> </p><p>The Government is also driving a renewed campaign – via the Childcare Choices website - so parents can access the support they are entitled to. This will also encourage providers to take the necessary steps to offer the full range of childcare support to parents.</p>
answering member constituency Middlesbrough South and East Cleveland more like this
answering member printed Mr Simon Clarke more like this
grouped question UIN 32591 more like this
question first answered
less than 2022-07-12T16:44:48.933Zmore like thismore than 2022-07-12T16:44:48.933Z
answering member
4655
label Biography information for Sir Simon Clarke more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1378023
registered interest false more like this
date less than 2021-11-12more like thismore than 2021-11-12
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Industry: Carbon Emissions more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of the tax reliefs offered to carbon intensive industries, including those companies drilling for oil and gas in the North Sea. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 73921 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-11-22more like thismore than 2021-11-22
answer text <p>HMRC have an annual tax reliefs statistics publication which is available to the public. The latest version of this was published in October 2020 and includes outturn cost estimates for tax reliefs for a five-year period up to and including 2019-20. This includes reliefs offered to carbon-intensive industries, including those companies drilling for oil and gas in the North Sea.</p><p>The Government keeps all taxes under review.</p> more like this
answering member constituency Faversham and Mid Kent more like this
answering member printed Helen Whately more like this
question first answered
less than 2021-11-22T14:29:59.77Zmore like thismore than 2021-11-22T14:29:59.77Z
answering member
4527
label Biography information for Helen Whately more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1367075
registered interest false more like this
date less than 2021-11-08more like thismore than 2021-11-08
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Business Rates: Valuation more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what recent estimate has he made of the number of businesses at each stage of the business rates appeal process in the latest period for which figures are available; and what estimate has he made of the average waiting time for a business rates appeal to be decided. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 71413 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-11-19more like thismore than 2021-11-19
answer text <p>The Valuation Office Agency (VOA) published official statistics on non-domestic rating challenges and changes, including Check, Challenge, Appeal (CCA) figures on 28 October 2021:</p><p><a href="https://www.gov.uk/government/statistics/non-domestic-rating-challenges-and-changes-2017-and-2010-rating-lists-september-2021" target="_blank">https://www.gov.uk/government/statistics/non-domestic-rating-challenges-and-changes-2017-and-2010-rating-lists-september-2021</a></p><p> </p><p>Table 1.1 shows there were 7,200 Checks and that 63,780 Challenges were outstanding as of 30 September 2021 in England.</p><p> </p><p>These figures represent the number of cases, not the number of businesses. Each Check or Challenge could involve more than one business, and a business could have more than one case.</p><p> </p><p>The vast majority of outstanding Challenge cases are related to COVID-19 and are on hold pending legislation. The Rating (Coronavirus) and Directors Disqualification (Dissolved Companies) Bill sets out, with retrospective effect, that matters attributable to COVID-19 are not to be taken into account in respect of determinations to alter 2017 rating lists in England. Once this comes into effect, these cases will be closed.</p><p> </p><p>The average timeliness of resolving Check and Challenge cases between 1 April 2017 and 30 September 2021 in England, was around two months for Checks, and nine months for Challenges. This figure excludes those COVID-19 related Challenges which are on hold.</p><p> </p><p>Clearance of outstanding Challenge cases remains a priority for the VOA. The VOA are prioritising hardship cases and non-COVID Challenge cases approaching 18 months old.</p>
answering member constituency South East Cambridgeshire more like this
answering member printed Lucy Frazer more like this
question first answered
less than 2021-11-19T12:09:08.11Zmore like thismore than 2021-11-19T12:09:08.11Z
answering member
4517
label Biography information for Lucy Frazer more like this
tabling member
4510
label Biography information for Helen Hayes remove filter
1363480
registered interest false more like this
date less than 2021-10-26more like thismore than 2021-10-26
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Fossil Fuels: Carbon Emissions more like this
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what steps the Government is taking to recoup the costs of net zero from fossil-fuel intensive corporations. more like this
tabling member constituency Dulwich and West Norwood more like this
tabling member printed
Helen Hayes more like this
uin 63790 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-11-02more like thismore than 2021-11-02
answer text <p>The Government is already committed to maintaining an ambitious carbon price to ensure that polluters continue to pay for their emissions. The UK has two main carbon pricing policies - the Carbon Price Support (CPS) and the UK Emissions Trading Scheme (ETS). Revenues from carbon pricing support government priorities including meeting our net zero targets.</p><p> </p><p>The CPS rate is a tax on fossil fuels used in electricity generation. CPS ensures that a strong decarbonisation signal is maintained to ensure a downwards trajectory in power sector emissions as we push to fully drive out coal.</p><p> </p><p>The ETS applies a carbon price to businesses in power generation, heavy industry and aviation. The ETS will be the world’s first net zero cap and trade market, delivering a robust carbon price signal and promoting cost-effective decarbonisation by allowing businesses to cut carbon where it is cheapest to do so.</p><p> </p><p>We are taking the opportunity to develop a scheme with greater ambition; for example, by reducing the cap on emissions allowances by 5% from the UK’s expected share of the EU ETS cap. We will also be consulting on setting a net zero consistent cap trajectory. The UK has also committed to exploring expanding the UK ETS to other sectors.</p><p> </p><p>At the same time as using carbon pricing to ensure firms face a cost for the carbon they emit, we are also supporting firms and households; with £1.8 billion to support tens of thousands of low-income households to make the transition to net zero while reducing their energy bills.</p>
answering member constituency South East Cambridgeshire more like this
answering member printed Lucy Frazer more like this
question first answered
less than 2021-11-02T17:51:05.363Zmore like thismore than 2021-11-02T17:51:05.363Z
answering member
4517
label Biography information for Lucy Frazer more like this
tabling member
4510
label Biography information for Helen Hayes remove filter