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781242

registered interest
date	31/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Retirement: Income
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how many meetings his Department has held with the Financial Conduct Authority to discuss the retirement income market since April 2015.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	110542
answer	answer is ministerial correction date of answer 06/11/2017 answer text <p>Treasury ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. This includes regular meetings with the Financial Conduct Authority to discuss relevant regulatory issues, including the retirement income market.</p><p>Details of ministerial and permanent secretary meetings with external organisations are published on a quarterly basis and are available at:</p><p> </p><p>https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-giftsand-overseas-travel</p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 06/11/2017 13:51:17 answering member 4095 label Biography information for Steve Barclay
tabling member	3928 label Biography information for Nick Smith

781243

registered interest
date	31/10/2017
answering body	HM Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	CaTreasury
hansard heading	Pensions: Taxation
house id	1
legislature	25259 pref label House of Commons
question text	To ask Mr Chancellor of the Exchequer, how much tax revenue has been generated for the public purse from pension withdrawals in each financial year since April 2015.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	110543
answer	answer is ministerial correction date of answer 06/11/2017 answer text <p>From April 2015, individuals aged 55 or over have had the option to flexibly access their pension.</p><p> </p><p>The latest estimate of the tax revenue from the introduction of pensions flexibility was set out in the Office for Budget Responsibility’s Economic and Fiscal Outlook in March 2017<sup><sup>[1]</sup></sup>. This stated, in paragraph A.23, that £1.5 billion of tax revenue was received from pension flexibility in 2015-16, and £1.1 billion is forecast to be received in 2016-17.</p><p> </p><p>[1] <a href="http://cdn.budgetresponsibility.org.uk/March2017EFO-231.pdf" target="_blank">http://cdn.budgetresponsibility.org.uk/March2017EFO-231.pdf</a></p> answering member constituency North East Cambridgeshire answering member printed Stephen Barclay question first answered 06/11/2017 13:53:30 answering member 4095 label Biography information for Steve Barclay
tabling member	3928 label Biography information for Nick Smith

781345

registered interest
date	31/10/2017
answering body	Department for Work and Pensions
answering dept id	29
answering dept short name	Work and Pensions
answering dept sort name	Work and Pensions
hansard heading	Social Security Benefits: Pensions
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Work and Pensions, what information his Department holds on the number of people receiving benefits due to expending their personal pension in the most recent period for which information is available.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	110541
answer	answer is ministerial correction date of answer 06/11/2017 answer text <p>The information requested is not available.</p><p> </p><p>Under the pension freedoms people with defined contribution pensions are able to draw capital or an income from their pensions from 55 years of age. If they do so, this will be taken into account in the assessment of their benefits entitlement. There are safeguards in place to deter people from deliberately spending their pension income in order to gain benefits.</p><p> </p><p> </p> answering member constituency Hexham answering member printed Guy Opperman question first answered 06/11/2017 14:43:39 answering member 4142 label Biography information for Guy Opperman
tabling member	3928 label Biography information for Nick Smith

781353

registered interest
date	31/10/2017
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Solar Power: Finance
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the equity of the fiscal regime for rooftop solar power compared with those for other energy generation technologies.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	110587
answer	answer is ministerial correction date of answer 06/11/2017 answer text <p><strong> </strong></p><p><strong> </strong></p><p>The UK has applied a reduced, 5% VAT rate on 11 different types of energy saving materials, including solar panels, since 2001. That remains in place. The Government is still considering the responses to the consultation on energy saving materials and will issue a response to that consultation shortly.</p><p> </p><p>The business rate treatment for solar panels is consistent with the treatment for other power generating plant and machinery. Plant and machinery which is used to provide power to the property is rateable, while these items are not rateable if the power is being wholly or mainly sold to other consumers. Changing the law in this instance would mean giving preferential treatment to the solar sector.</p><p> </p><p>The treatment of capital allowances for solar panels is also consistent with the treatment for other power generating technologies.</p><p> </p><p> </p> answering member constituency Watford answering member printed Richard Harrington question first answered 06/11/2017 14:44:04 answering member 4068 label Biography information for Lord Harrington of Watford
tabling member	3928 label Biography information for Nick Smith

781475

registered interest
date	31/10/2017
answering body	Department for Business, Energy and Industrial Strategy
answering dept id	201
answering dept short name	Business, Energy and Industrial Strategy
answering dept sort name	Business, Energy and Industrial Strategy
hansard heading	Solar Power
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Secretary of State for Business, Energy and Industrial Strategy, what his Department's policy is on solar power; and if he will make a statement.
tabling member constituency	Blaenau Gwent
tabling member printed	Nick Smith
uin	110588
answer	answer is ministerial correction date of answer 06/11/2017 answer text <p>Solar power is a UK success story, with rapid deployment over the last 7 years. Latest figures indicate that we now have over 12.5GW of solar capacity installed in the UK, enough to power over 2.7 million homes and exceeding our historic projections.</p><p> </p><p>Support for solar comes directly from people's bills, so when costs come down, so should support. Therefore we have taken steps to control the costs of support schemes and put solar on a path to delivering without subsidy. We expect subsidy-free solar to be an increasingly attractive option. Some of the UK’s largest solar developers have said that they will be installing and connecting subsidy-free sites in 2017.</p><p> </p><p> </p> answering member constituency Watford answering member printed Richard Harrington question first answered 06/11/2017 14:20:15 answering member 4068 label Biography information for Lord Harrington of Watford
tabling member	3928 label Biography information for Nick Smith