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1699276

	registered interest
	date	27/03/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government whether any work is underway to prepare for a fiscal event outside of the usual Treasury timetable.
	tabling member printed	Lord Browne of Ladyton
	uin	HL3659
	answer	answer is ministerial correction date of answer 08/04/2024 answer text <p>The Treasury develops policy throughout the year, in line with the Chancellor’s priorities and regardless of whether a date for a fiscal event has been announced.</p><p>The government is required by law to commission the Office for Budget Responsibility (OBR) to produce two forecasts per year and to hold a Budget each fiscal year.</p><p>The Chancellor has not announced the date of the next fiscal event.</p> answering member printed Baroness Vere of Norbiton question first answered 08/04/2024 14:17:14 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	620 label Biography information for Lord Browne of Ladyton

1677577

	registered interest
	date	12/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	2
	legislature	25277 pref label House of Lords
	question text	To ask His Majesty's Government what is their response to the Institute for Fiscal Studies' assessment that (1) the Autumn Statement has extended the squeeze on public service spending to 2028–29, (2) the growth outlook has weakened, and (3) inflation is expected to stay higher for longer.
	tabling member printed	Lord Hunt of Kings Heath
	uin	HL1106
	answer	answer is ministerial correction date of answer 21/12/2023 answer text <p>Total departmental spending in the next Parliament will continue to grow above inflation. Taken together with the significant increase (3.2% a year on average in real terms) in total departmental spending over the current Parliament, this means that total departmental spending will be £85 billion higher in real terms by 2028-29 than at the start of this Parliament (2019-20).</p><p> </p><p>Earlier in the year many were predicting a recession, now the economy is growing in every year of the OBR forecast and the GDP level throughout the forecast is higher than forecast at Spring. The combined impact of Autumn Statement and Spring Budget policies are expected to permanently increase the size of the economy by 0.5% by the end of the forecast.</p><p> </p><p>Inflation has been more persistent than the OBR forecast at Spring Budget 2023. The OBR has judged that high energy costs since Putin’s illegal invasion of Ukraine have had a more significant impact on inflation than it previously thought. However, we have met the PM’s priority to halve inflation this year, with inflation falling to 3.9% in November. The OBR says that Autumn Statement policies do not ‘have a material impact on the path of inflation’, and they slightly reduce inflation in 2024-25.</p> answering member printed Baroness Vere of Norbiton question first answered 21/12/2023 14:33:41 answering member 4580 label Biography information for Baroness Vere of Norbiton
	tabling member	2024 label Biography information for Lord Hunt of Kings Heath

1627120

	registered interest
	date	11/05/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps he is taking to (a) reduce the national debt and (b) ensure value for money in public spending.
	tabling member constituency	Romford
	tabling member printed	Andrew Rosindell
	uin	184600
	answer	answer is ministerial correction date of answer 18/05/2023 answer text <p>The government took decisive action to restore economic stability in the autumn and get debt falling. At Spring Budget, the OBR confirmed that the government will meet its fiscal rules; underlying debt as a share of GDP is on track to fall in 2027-28 and is lower in every year compared to the OBR’s November forecast.</p><p>To help ensure value for money in public spending the government launched an Efficiency and Savings Review at Autumn Statement 2022. Through the review, departments reprioritised and identified further efficiencies, building on the 5% efficiency challenge set at Spending Review 2021, to better deliver value for money for the taxpayer.</p><p>The government will continue to identify further ways to work more efficiently to ensure we can best deliver the outcomes that matter most to the public, even in a challenging economic environment.</p> answering member constituency Salisbury answering member printed John Glen question first answered 18/05/2023 11:02:50 answering member 4051 label Biography information for John Glen
	tabling member	1447 label Biography information for Andrew Rosindell

1466495

	registered interest
	date	26/05/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if his Department will place in the Library a revised forecast of the expected level of public sector net borrowing in the 2022-23 financial year, incorporating the impact of announcements made by the Chancellor to the House on 26 May 2022.
	tabling member constituency	Wolverhampton South East
	tabling member printed	Pat McFadden
	uin	9863
	answer	answer is ministerial correction date of answer 06/06/2022 answer text The Chancellor will in due course commission a forecast from the Office for Budget Responsibility (OBR), as set out by the Charter for Budget Responsibility. The OBR will incorporate the impact of new policy in their next economic and fiscal forecast, including measures that have been announced since the last forecast event. answering member constituency Salisbury answering member printed John Glen grouped question UIN 9864 question first answered 06/06/2022 09:05:14 answering member 4051 label Biography information for John Glen
	tabling member	1587 label Biography information for Pat McFadden

1466497

	registered interest
	date	26/05/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if his Department will direct the Office for Budget Responsibility to produce a revised forecast of growth in real gross domestic product, consumer price inflation and public sector net borrowing for the 2022-23 financial year, incorporating the impact of announcements he made to the House on 26 May 2022.
	tabling member constituency	Wolverhampton South East
	tabling member printed	Pat McFadden
	uin	9864
	answer	answer is ministerial correction date of answer 06/06/2022 answer text The Chancellor will in due course commission a forecast from the Office for Budget Responsibility (OBR), as set out by the Charter for Budget Responsibility. The OBR will incorporate the impact of new policy in their next economic and fiscal forecast, including measures that have been announced since the last forecast event. answering member constituency Salisbury answering member printed John Glen grouped question UIN 9863 question first answered 06/06/2022 09:05:14 answering member 4051 label Biography information for John Glen
	tabling member	1587 label Biography information for Pat McFadden

1455283

	registered interest
	date	29/03/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the regional distribution of measures announced in the 2022 Spring Statement; and if he will place a copy of that assessment in the Library.
	tabling member constituency	Leeds West
	tabling member printed	Rachel Reeves
	uin	149226
	answer	answer is ministerial correction date of answer 19/04/2022 answer text <p>The Chancellor’s Spring Statement on 23 March 2022 announced a number of measures to support households and businesses in every region and nation of the UK and to relieve the immediate pressure on our cost of living. This includes cutting National Insurance by aligning the Primary Threshold and Lower Profits Limit with the income tax personal allowance from July 2022 – a tax cut worth over £6 billion – and cutting the duty rate on petrol and diesel by 5p per litre for a year, saving the average UK car driver around £100.</p><p> </p><p>It sets out that taxes are being cut, debt is falling and public spending is increasing, for the benefit of every region and nation in the UK.</p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke grouped question UIN 151089 151090 151091 question first answered 19/04/2022 14:40:51 answering member 4655 label Biography information for Sir Simon Clarke
	tabling member	4031 label Biography information for Rachel Reeves

1455420

	registered interest
	date	29/03/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment his Department has made of the (a) impact of the (i) Spring Statement 2022 and (ii) October Budget 2021 and (b) combined impact of those fiscal events on (A) women, (B) Black, Asian and minority ethnic people, (C) disabled people, (D) LGBT+ people and (E) pensioners.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	149355
	answer	answer is ministerial correction date of answer 19/04/2022 answer text <p>The Treasury carefully considers the impact of its decisions on those sharing protected characteristics, including at Spring Statement 2022 and Autumn Budget 2021 and other fiscal events, in line with both its legal obligations and with its strong commitment to promoting fairness.</p><p> </p><p>Those with protected characteristics are amongst those who are benefitting from the actions taken at the Spring Statement 2022 and Autumn Budget 2021. These include increases in the National Living Wage (NLW) to £9.50 an hour for workers aged 23 and over, which will benefit women, people with disabilities and individuals from some ethnic minority backgrounds, who are more likely to be on the NLW.</p><p> </p><p>Women and the LGBT community are disproportionately affected by domestic abuse and sexual violence and are being supported by increased funding announced at Autumn Budget 2021 for victim support services, including Independent Sexual and Domestic Violence Advisors.</p><p> </p><p>Spending Review 2021 also announced an enhanced offer for workers aged 50 and over to ensure that older workers receive the support they need to remain in or return to work and benefit from fuller working lives.</p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke question first answered 19/04/2022 14:27:53 answering member 4655 label Biography information for Sir Simon Clarke
	tabling member	4657 label Biography information for Anneliese Dodds

1455425

	registered interest
	date	29/03/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, for what reason his Department's distributional analysis accompanying the Spring Statement 2022 combined all tax, welfare and public service spending decisions since the Spending Round 2019; and what plans his Department has to publish a separate distributional analysis for each fiscal event during that period.
	tabling member constituency	Oxford East
	tabling member printed	Anneliese Dodds
	uin	149356
	answer	answer is ministerial correction date of answer 06/04/2022 answer text <p>At each fiscal event HM Treasury has regularly published distributional analysis of the impact of tax, welfare and spending decisions on households.</p><p> </p><p>The aim of the government’s distributional analysis is to present a comprehensive picture of the net effect of tax or welfare changes on household incomes, as well as the impact of public spending decisions, in the round. As each policy decision will have a different effect on households, presenting the total impact over a relatively long time period provides a more robust, comprehensive and stable approach than looking at every policy individually.</p><p> </p><p>Distributional analysis published at Spring Statement 2022 shows that in 2024-25, the tax, welfare and spending decisions made since Spending Round 2019 (SR19) will have benefitted the poorest households most (as a percentage of income). The impact of government policy since SR19 on the bottom four deciles is expected to be worth more than £1,000 a year, while there will have been a net benefit on average for the poorest 80% of households.</p><p> </p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke question first answered 06/04/2022 10:22:22 answering member 4655 label Biography information for Sir Simon Clarke
	tabling member	4657 label Biography information for Anneliese Dodds

1455535

	registered interest
	date	29/03/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment she has made of the distributional impact of financial decisions announced since the Spending Round 2019 on households in 2024-25, excluding benefits-in-kind from public services.
	tabling member constituency	Erith and Thamesmead
	tabling member printed	Abena Oppong-Asare
	uin	149419
	answer	answer is ministerial correction date of answer 19/04/2022 answer text <p>The Chancellor’s assessment of the cash impact of tax and welfare decisions is shown in Chart 1.C, of “Impact on households: distributional analysis to accompany Spring Statement 2022”, where it is presented alongside the impact of benefits-in-kind from public services.</p><p> </p><p>Taking into account spending on public services provides a more complete picture of Government policy, as it is an important element of the overall support provided by the government to households.</p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke question first answered 19/04/2022 07:19:55 answering member 4655 label Biography information for Sir Simon Clarke
	tabling member	4820 label Biography information for Abena Oppong-Asare

1354992

	registered interest
	date	13/09/2021
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent changes have been made to the Green Book in assessing value for money to give weighting for bids from particular regions; and if he will set out that weighting.
	tabling member constituency	North Down
	tabling member printed	Stephen Farry
	uin	48388
	answer	answer is ministerial correction date of answer 20/09/2021 answer text <p>The Green Book sets out guidance on how to appraise policies,</p><p>programmes and projects, to help public servants give objective advice to decision makers. In November 2020 the Government completed a review of the Green Book, which included new requirements for the appraisal of place based impacts. This guidance sets out that where a proposal has geographically defined objectives, then the principal frame of the analysis should be on the effects on that area specifically. Alternatively, where a proposal is expected to have different implications for parts of the UK, then these impacts on different places should be appraised and presented to support decision making.</p><p> </p><p>Value for money is a judgement following the application of the wider Green Book method. These judgements also need to consider un-quantified factors and the extent to which different options best meet the objectives for intervention, rather than a quantified score alone. It is therefore not possible to apply regional weightings to these wider considerations which are necessary in assessing value for money.</p> answering member constituency Middlesbrough South and East Cleveland answering member printed Mr Simon Clarke question first answered 20/09/2021 15:57:48 answering member 4655 label Biography information for Sir Simon Clarke
	tabling member	4856 label Biography information for Stephen Farry