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1713401

	registered interest
	date	24/04/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions he has had with the Bank of England on bank rates.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	23479
	answer	answer is ministerial correction date of answer 29/04/2024 answer text <p>Monetary policy is the responsibility of the independent Monetary Policy Committee of the Bank of England. This includes decisions on the Bank Rate.</p><p> </p><p>The Treasury meet with the Bank of England regularly to discuss their assessment of the economy and financial services. This includes regular meetings between the Chancellor and the Governor of the Bank of England.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 29/04/2024 14:37:35 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1695226

	registered interest
	date	12/03/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Northern Ireland
	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 ensure that public sector workers in Northern Ireland are able to receive a pay award that is equal to levels in England and Wales.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	18166
	answer	answer is ministerial correction date of answer 19/03/2024 answer text <p>The UK Government is providing the Northern Ireland Executive with a comprehensive £3.3 billion spending settlement to stabilise public services, better manage public finances and pave the way for transformation of public services.</p><p>Within this package, the UK Government provided £846 million to support the Northern Ireland Executive’s budget pressures in 2023-24, including public sector pay pressures</p><p><br>It is the Executive’s responsibility to decide on the level of public sector pay awards for devolved areas in Northern Ireland and to balance these costs against other priorities.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 19/03/2024 12:13:05 answering member 4780 label Biography information for Laura Trott
	tabling member	4131 label Biography information for Jim Shannon

1691083

	registered interest
	date	22/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	First Time Buyers: Mortgages
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has had discussions with major banks on the accessibility of mortgages for first time buyers.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	15279
	answer	answer is ministerial correction date of answer 28/02/2024 answer text <p>The Government is regularly in contact with mortgage lenders on all aspects of their business, including the provision of finance to first time buyers.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 28/02/2024 10:22:06 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1689338

	registered interest
	date	16/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Companies: Northern Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will have discussions with his counterpart in the Department of Economy on helping to ensure that Northern Ireland is an attractive place for companies to invest in.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	14078
	answer	answer is ministerial correction date of answer 26/02/2024 answer text <p>The UK Government is committed to promoting Northern Ireland as an attractive place for foreign direct investment (FDI), and we look forward to working closely with the restored Northern Ireland Executive on ensuring that Northern Ireland is an attractive place for companies to invest in.</p><p> </p><p>The Northern Ireland Investment Summit in September 2023 brought together over 100 international investors and businesses, and profiled Northern Ireland’s innovative and technological strengths. Northern Ireland has been successful in attracting FDI, particularly in financial services, and Belfast is the world’s number one city for FinTech inward investment.</p><p> </p><p>The UK Government is taking steps to improve the investment support offer to foreign investors following the Harrington Review, including making investment ambition a priority across government through the new Ministerial Investment Group, reviewing the grants landscape to make it simple and streamlined for investors, and increasing the resource available to the Office for Investment.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 26/02/2024 09:49:14 answering member 4850 label Biography information for Gareth Davies
	tabling member	4131 label Biography information for Jim Shannon

1689339

	registered interest
	date	16/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Strangford
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will have discussions with local authorities in Northern Ireland on the potential merits of allocating additional funding to support SMEs in Strangford constituency.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	14079
	answer	answer is ministerial correction date of answer 26/02/2024 answer text <p>The allocation of funding to support Small and Medium Enterprises (SMEs) in Northern Ireland is the responsibility of the Northern Ireland Executive. We look forward to working closely with the restored Executive on a wide range of issues, including support for businesses in Northern Ireland.</p><p> </p><p>The UK Government provides tax reliefs benefiting SMEs such as the Annual Investment Allowance and Employment Allowance, supports investment in SMEs through British Business Bank programmes, and offers the Help to Grow: Management training scheme which is delivered through business schools in Northern Ireland.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 26/02/2024 10:30:06 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1687731

	registered interest
	date	06/02/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Northern Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has had discussions with the authorities in Northern Ireland on rural banking services.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	13265
	answer	answer is ministerial correction date of answer 13/02/2024 answer text <p>The Treasury engages with a range of different stakeholders to discuss policy matters. We look forward to working with the restored Executive to deliver for the people of Northern Ireland.</p><p>It is imperative that banks and building societies recognise the needs of all their customers, including those who need to use in-person services.</p><p>UK customers can access banking services through a number of different channels. This includes in branches, Post Offices or Banking Hubs, as well as via telephone banking and through digital means such as mobile or online banking.</p><p>The Post Office allows personal and business customers to carry out everyday banking services at 11,500 Post Office branches across the UK. The Post Office is required by the Department for Business &amp; Trade to ensure that 95% of the total rural population across the UK is within 3 miles of their nearest Post Office.</p><p>Moreover, Banking Hubs are an initiative which enable customers of participating banks to access cash and banking services in shared facilities. Over 100 Banking Hubs have been announced so far, and the Government hopes to see these Hubs open as soon as possible across all four nations of the United Kingdom. To date, 5 Hubs have been announced in Northern Ireland, with Kilkeel already open.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 13/02/2024 15:03:45 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1682395

	registered interest
	date	16/01/2024
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Government Assistance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking to help support mortgage holders with high interest rates; and whether he has had recent discussions with mortgage lenders on taking steps to support mortgage holders.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	9825
	answer	answer is ministerial correction date of answer 24/01/2024 answer text <p>The pricing of mortgages is a commercial decision for lenders in which the Government does not intervene. However, the Government is regularly in contact with mortgage lenders on all aspects of their business</p><p> </p><p>The path to lower interest rates is through low inflation, and the government is fully committed to supporting the Bank of England get inflation back down to the 2% target, including by keeping borrowing under control.</p><p> </p><p>The Government has taken steps to limit the impact of rising interest rates on mortgage holders, through the Mortgage Charter, which sets out the standards signatory lenders will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period.</p><p> </p><p>The Charter is in addition to the significant safeguards already in place for consumers in the mortgage market.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 24/01/2024 12:03:37 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1675385

	registered interest
	date	05/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector Debt
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps his Department is taking reduce the national debt in the (a) short- and (b) medium-term.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	5273
	answer	answer is ministerial correction date of answer 11/12/2023 answer text <p>The Government is committed to sustainable public finances and has taken responsible decisions to keep debt falling, while reducing taxes and boosting economic growth. Over the short and medium-term, this includes tough choices to control public pending and drive greater efficiencies.</p><p> </p><p>The independent Office for Budget Responsibility (OBR) confirmed that underlying debt is forecast to fall to 92.8% of GDP in 2028-29 and is 2.1 percentage points lower on average compared to the OBR’s March forecast.</p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 11/12/2023 16:29:09 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1675386

	registered interest
	date	05/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Supermarkets: Prices
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether officials in his Department have had discussions with representatives of (a) supermarkets and (b) other retail outlets on steps being taken to mitigate the impact of increased costs on the prices of goods for consumers.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	5274
	answer	answer is ministerial correction date of answer 12/12/2023 answer text <p>As part of the process of policy development and delivery, Treasury Ministers and officials meet a wide variety of organisations, including retail businesses, supermarkets, and their representative organisations, to discuss a range of issues including inflation. Details of ministerial and permanent secretary meetings with external organisations on departmental business are published on a quarterly basis and are available at gov.uk:</p><p> </p><p><a href="https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel" target="_blank">HMT ministers' meetings, hospitality, gifts and overseas travel - GOV.UK (www.gov.uk)</a></p><p> </p><p>Inflation was 4.6% in October, which is the lowest rate in two years. The government is fully committed to supporting the Bank of England get inflation back down to 2%. The Office for Budget Responsibility (OBR) forecasts that government policies in the Autumn Statement will help reduce inflation to 2.8% by the end of 2024, and return to target in the first half of 2025.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 12/12/2023 17:46:45 answering member 4850 label Biography information for Gareth Davies
	tabling member	4131 label Biography information for Jim Shannon

1675053

	registered interest
	date	04/12/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Housing: Prices
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of changes in the level of house prices since September 2023.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	5027
	answer	answer is ministerial correction date of answer 07/12/2023 answer text <p>The most reliable measure of average house prices in the UK is published by the ONS. The latest release is for September 2023, when the average house price in the UK was assessed to be £291,400. That leaves average UK house prices 25% higher than their average level in 2019, although 0.2% lower than their average level in Sept 2022.</p><p>While prices have remained resilient, housing market activity has slowed in recent months, largely as a result of rising mortgage rates, which are in part driven by Bank Rate. Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England. The path to lower rates is through low inflation, which is why the government is fully committed to supporting the Bank get inflation back down to the 2% target. The MPC continues to have the Government’s full support as it takes action to return inflation to target through its independent monetary policy decisions.</p><p>The Government has taken steps to limit the impact of rising interest rates on mortgage holders, through the Mortgage Charter. This Charter sets out the standards that signatory lenders – who represent over 90% of the UK mortgage market – will adopt when helping their customers.</p><p>We have also taken a number of measures aimed at helping people to avoid repossession, including protection in the courts through the Pre-Action Protocol, the Housing Loss Prevention Advice Service (HLPAS), and Support for Mortgage Interest (SMI) loans. Accordingly, arrears and repossessions remain at historic lows, despite the rise in interest costs.</p><p>The government continues to monitor developments in the housing market closely and consider the implications for its policies.</p><p> </p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 07/12/2023 15:55:45 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1673899

	registered interest
	date	29/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Pay
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he had made a recent assessment of the implications for his policies of the recommendations of public sector pay review bodies on pay increases for public sector workers.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	4424
	answer	answer is ministerial correction date of answer 07/12/2023 answer text <p>For the 2023/24 pay round, the Government accepted the headline pay recommendations of the PRBs in full for the armed forces, teachers, prison officers, police, the judiciary, medical workforces, and senior civil servants, which has resulted in the highest pay uplifts in three decades.</p><p> </p><p>We have ensured that these PRB awards will not be paid for through borrowing.</p> answering member constituency Sevenoaks answering member printed Laura Trott question first answered 07/12/2023 10:18:04 answering member 4780 label Biography information for Laura Trott
	tabling member	4131 label Biography information for Jim Shannon

1673903

	registered interest
	date	29/11/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Vacancies
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what estimate his Department has made of changes in the level of job vacancies; and if he will make an assessment of the potential impact of that on economic activity.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	4428
	answer	answer is ministerial correction date of answer 06/12/2023 answer text <p>Information on the level of job vacancies was provided by the Office for National Statistics (ONS) on 14<sup>th</sup> November 2023. A link to that report is provided below.</p><p><a href="https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/jobsandvacanciesintheuk/november2023" target="_blank">https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/bulletins/jobsandvacanciesintheuk/november2023</a></p> answering member constituency Hitchin and Harpenden answering member printed Bim Afolami question first answered 06/12/2023 13:15:19 answering member 4639 label Biography information for Bim Afolami
	tabling member	4131 label Biography information for Jim Shannon

1666825

	registered interest
	date	24/10/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Hospitality Industry: Northern Ireland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of increased alcohol duties on the hospitality industry in Northern Ireland.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	204018
	answer	answer is ministerial correction date of answer 26/10/2023 answer text <p>The Government publishes tax information and impact notes (TIINs) for tax policy changes when the policy is final or near final. The summary of impacts from the latest changes to alcohol duty at Spring Budget 2023 can be found here: <a href="https://www.gov.uk/government/publications/changes-to-alcohol-duty-rates/alcohol-duty-rate-changes#:~:text=At%20the%20current%20VAT%20rate,will%20be%202%20pence%20higher" target="_blank">https://www.gov.uk/government/publications/changes-to-alcohol-duty-rates/alcohol-duty-rate-changes#:~:text=At%20the%20current%20VAT%20rate,will%20be%202%20pence%20higher</a></p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 26/10/2023 08:49:45 answering member 4850 label Biography information for Gareth Davies
	tabling member	4131 label Biography information for Jim Shannon

1666492

	registered interest
	date	23/10/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent discussions his Department has had with business on interest rates.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	203838
	answer	answer is ministerial correction date of answer 26/10/2023 answer text <p>Treasury ministers and officials hold regular discussions with businesses, both individually and through their representative organisations such as the Federation of Small Businesses, the Institute of Directors, The 100 Group and the British Chambers of Commerce, on a range of issues affecting businesses including interest rates.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 26/10/2023 09:59:16 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1662741

	registered interest
	date	13/10/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Corporation Tax: Tax Rates and Bands
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has made an estimate of the number of large businesses paying into the highest bracket of corporation tax in calendar years (a) 2022 and (b) 2023.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	200595
	answer	answer is ministerial correction date of answer 23/10/2023 answer text <p>When the Corporation Tax rate change was announced at Budget 2021 it was estimated that around 200,000 companies would pay the 25% rate. <a href="https://www.gov.uk/government/speeches/budget-speech-2021" target="_blank">https://www.gov.uk/government/speeches/budget-speech-2021</a></p><p>Estimates of actual numbers paying the main rate will be published once data is available.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 23/10/2023 13:04:03 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1658177

	registered interest
	date	05/09/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Technology: Fraud
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to impose a duty on (a) technology, (b) social media and (c) telecommunication companies to contribute towards the costs of refunding victims of fraud which originated on their platforms.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	197810
	answer	answer is ministerial correction date of answer 13/09/2023 answer text <p>It is vital that the tech sector takes a proactive role to prevent online fraud and that the requirement on the sector is proportionate to their ability, as a platform host, to identify online fraud.</p><p> </p><p>In recognition of the responsibility of the tech sector for tackling fraud, the Online Safety Bill will place a requirement on relevant companies to take preventive measures to stop fraudulent content and advertising from appearing on their platforms, or face fines of up to £18m or 10% of their annual turnover. In the interim, the Fraud Strategy, published by the Home Office in May, set out measures to reduce fraud incidents by 10% by the end of the current Parliament, including the announcement that the government would negotiate and agree a voluntary Online Fraud Charter with the tech sector by the end of the summer. We will publish further details on the Charter in due course.</p><p> </p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 13/09/2023 15:11:50 answering member 4850 label Biography information for Gareth Davies
	tabling member	4131 label Biography information for Jim Shannon

1650332

	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	Bank Services: Vulnerable Adults
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent steps his Department is taking to help ensure vulnerable groups have access to cash and in-person banking services.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	192526
	answer	answer is ministerial correction date of answer 10/07/2023 answer text <p>The government recognises that while the transition towards digital banking and payments brings opportunities, cash and in-person services continue to be used by many people, including those who may be in vulnerable groups, across the UK.</p><p> </p><p>The government has recently legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect access to cash. The Act establishes the Financial Conduct Authority (FCA) as the lead regulator for access to cash with responsibility and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities. As part of this, the FCA must also seek to ensure that there is reasonable provision of free cash withdrawal and deposit facilities in relation to personal current accounts.</p><p> </p><p>Decisions on opening and closing branches are a commercial issue, and the government does not intervene in these. However, the FCA’s guidance expects firms to carefully consider the impact of any planned closure on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements for those who rely on in-person services. In particular, the FCA expects firms to analyse the needs and characteristics of customers in vulnerable circumstances currently using the sites. This includes known protected characteristics such as age or disability.</p><p> </p><p>In the context of the government’s access to cash legislation, the financial services sector is working together to develop and provide shared services. To date, industry has committed to over 100 shared cash access services, including over 60 banking hubs. People can also access cash and everyday banking services via their local Post Office.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 10/07/2023 13:20:10 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1648459

	registered interest
	date	28/06/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps the Government is taking to support people with increases in mortgage costs, in the context of increases in the cost of living.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	191575
	answer	answer is ministerial correction date of answer 04/07/2023 answer text <p>The pricing and availability of mortgages is a commercial decision for lenders in which the Government does not intervene.</p><p> </p><p>However, we recognise this will be a concerning time for all households with a mortgage. The Prime Minister has been clear, the best and most important way that we can keep costs and interest rates down for people is to halve inflation, and then return it to the 2% target.</p><p> </p><p>Following the commitments agreed to support borrowers in December, the Chancellor met with mortgage lenders, UK Finance and the Financial Conduct Authority on 23 June. At this meeting, lenders agreed to a new Mortgage Charter to support borrowers struggling with their mortgage payments, which was published on 26 June. This sets out the standards lenders will adopt when helping their customers, including new flexibilities to help customers manage their mortgage payments over a short period.</p><p> </p><p>This is in addition to the measures the Government has already taken aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans, and protection in the courts through the Pre-Action Protocol.</p><p> </p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 04/07/2023 11:09:52 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1645877

	registered interest
	date	20/06/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Economic Growth
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of forecasted trends in the level of global growth in the next five years.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	190315
	answer	answer is ministerial correction date of answer 26/06/2023 answer text <p>At Spring Budget, the Chancellor announced a package to boost economic growth by removing the barriers to work to increase labour supply, reforming the UK’s tax system to incentivise business investment and improve productivity, and continuing to support the UK’s high growth sectors through better regulation.</p><p> </p><p>The Office for Budget Responsibility expect that this package will result in the largest policy-induced permanent increase in UK GDP in their medium-term forecast. While international economic conditions remain challenging, the UK has exceeded expectations, leading to the IMF and OECD to revise up their UK growth forecasts, while taking into consideration global macro-economic conditions.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 26/06/2023 14:07:24 answering member 4850 label Biography information for Gareth Davies
	tabling member	4131 label Biography information for Jim Shannon

1642509

	registered interest
	date	07/06/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages: Interest Rates
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has held recent discussions with banks on fixed rate mortgages for first time buyers.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	188273
	answer	answer is ministerial correction date of answer 12/06/2023 answer text <p>HM Treasury is regularly in contact with mortgage lenders on all aspects of their mortgage business to understand their position and current lending conditions. There is a wide choice of fixed-rate mortgage products available in the market for all prospective buyers. However, the pricing and availability of mortgages is ultimately a commercial decision for lenders in which the Government does not intervene.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 12/06/2023 14:40:44 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1639576

	registered interest
	date	23/05/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Personal Savings: Inflation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of trends in the level of inflation on the assets of long-term savers.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	186349
	answer	answer is ministerial correction date of answer 01/06/2023 answer text <p>The government recognises the importance of getting inflation down, and there are three key things the government is doing to deliver on the plan to halve inflation.</p><p> </p><p>Firstly, remaining steadfast in our support for the independent MPC at the Bank of England, as they take action to return inflation to target. Secondly, making difficult but responsible decisions on tax and spending so we are not adding fuel to the fire. Third, tackling high energy prices by holding down energy bills for households and businesses, alongside investing in long-term energy security.</p><p> </p><p>Both the Bank of England and the Office for Budget Responsibility (OBR) forecast that inflation will fall notably this year. The government recognises the challenges faced by households due to elevated cost of living and has provided support worth £3,300 per household on average, across 2022-23 and 2023-24.</p><p>In addition, the Government has a number of savings tax reliefs to support to support savers.</p><p> </p><p>Individuals can save up to £20,000 into their ISA each year and coupled with the Personal Savings Allowance of up to £1,000 for basic rate taxpayers and up to £500 for higher rate taxpayers, around 95% of people with savings income pay no tax on that income. ISAs have been a well-regarded and highly utilised investment and savings vehicle for many. Around £72 billion was subscribed to Adult ISAs in 2020 to 2021.</p><p> </p><p>The government keeps ISA policy under review to ensure it remains and appropriate vehicle for savers.</p><p> </p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 01/06/2023 11:00:43 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1623611

	registered interest
	date	25/04/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	National Income
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his policies of recent trends in the level of GDP.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	182560
	answer	answer is ministerial correction date of answer 02/05/2023 answer text <p>HM Treasury does not prepare forecasts for the UK economy, including assessments of the impact of the Budget, which are the responsibility of the independent Office for Budget Responsibility (OBR).</p><p>The OBR judged that the overall impact of the policy package announced at Spring Budget 2023 is to increase the level of real GDP by around 0.2 per cent in 2027-28. This is the largest upward revision made to potential output as a result of government fiscal policy decisions in any of the OBR’s forecasts since 2010.</p><p> </p><p>Further details can be found in the OBR’s latest Economic and Fiscal Outlook, published in March 2023: <a href="https://obr.uk/efo/economic-and-fiscal-outlook-march-2023/" target="_blank">https://obr.uk/efo/economic-and-fiscal-outlook-march-2023/</a></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 02/05/2023 10:54:14 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1623615

	registered interest
	date	25/04/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Mortgages
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the impact of rises in the cost of living on the affordability of mortgage payments.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	182564
	answer	answer is ministerial correction date of answer 02/05/2023 answer text <p>Mortgage arrears levels remain at historically low levels.</p><p> </p><p>Where mortgage holders do fall into financial difficulty, Financial Conduct Authority guidance requires firms to offer tailored support. This could include a range of measures depending on individual circumstances.</p><p> </p><p>The Government has also taken a number of measures aimed at helping people to avoid repossession, including Support for Mortgage Interest (SMI) loans for those in receipt of an income-related benefit, and protection in the courts through the Pre-Action Protocol, which makes it clear that repossession must always be the last resort for lenders.</p><p> </p><p>More broadly, the Government has taken decisive action to support households across the UK through the cost-of-living challenges, whilst remaining fiscally responsible. Overall, the Government is providing support worth over £94 billion over 2022-23 and 2023-24 to help households and individuals with the rising cost of living – an average of over £3,300 per UK household. The Government is also maintaining the Energy Price Guarantee at £2,500 for an additional three months from April, saving households an additional £160, bringing total Government support for energy bills to £1,500 for a typical household since October 2022.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 02/05/2023 10:49:16 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1623618

	registered interest
	date	25/04/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Coronavirus: Government Assistance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what steps the Government is taking to recover public funds received improperly during the covid-19 pandemic.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	182567
	answer	answer is ministerial correction date of answer 02/05/2023 answer text <p>The Government has always been clear that fraud is unacceptable. Those who attempted to defraud public funds will be subject to both criminal and commercial recovery efforts.</p><p> </p><p>On Covid-19 support schemes administered by HMRC, over £1.2 billion worth of grants were either blocked from being paid out or recovered through compliance work by the end of March 2022, with more work ongoing.</p><p> </p><p>Significant work has been underway across Government and commercial lenders to address fraudulent activity in relation to the Covid-19 loan schemes. We are working with lenders, law enforcement, and partners across Government to recover fraudulently obtained loans. We have been clear that Government will not hesitate to take criminal action against serious cases, and as of January 2023 49 arrests have been made in relation to Bounce Back Loan fraud.</p><p> </p> answering member constituency Salisbury answering member printed John Glen question first answered 02/05/2023 10:39:34 answering member 4051 label Biography information for John Glen
	tabling member	4131 label Biography information for Jim Shannon

1612214

	registered interest
	date	19/04/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	First Time Buyers: Mortgages
	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 support first time buyers with attaining mortgages.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	181506
	answer	answer is ministerial correction date of answer 25/04/2023 answer text <p>The Government remains committed to making the aspiration of homeownership a reality for as many households as possible.</p><p> </p><p>The Government operates a range of schemes that aim to increase the supply of low-deposit mortgages for credit-worthy households, including first-time buyers, and stimulate economic growth. This includes the Mortgage Guarantee Scheme, which is open until the end of 2023. The Government also helps first-time buyers to save for a deposit through the Lifetime ISA and Help to Buy: ISA.</p><p> </p><p>Over 829,000 households have been helped to purchase a home since Spring 2010 through Government-backed schemes, with the annual number of first-time buyers at a 20-year high in 2021.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 25/04/2023 13:08:59 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1611643

	registered interest
	date	18/04/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Government Assistance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will take steps to provide fiscal support for (a) takeaways and (b) other small and micro businesses.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	181187
	answer	answer is ministerial correction date of answer 26/04/2023 answer text <p>The Government has demonstrated its long-standing commitment to supporting small and micro businesses, entrepreneurs, and businesses on our high streets, including takeaways. At Spring Budget, we confirmed that, from April 2023, the Small Profits Rate will mean 70% of businesses will see no increase in Corporation Tax this April. In fact, the UK has the lowest corporation tax rate in the G7.</p><p> </p><p>In addition, the UK also has a higher VAT registration threshold than any EU member state and second highest in the OECD – which keeps the majority of UK businesses out of VAT altogether. We have also put in place a generous package of Business Rates relief worth £13.6 billion.</p><p> </p><p>The Government continues to invest in the 38 Growth Hubs providing businesses across England with free one-to-one support and advice. Growth Hubs offer a triage, diagnostic and signposting service to make sure that all businesses, whatever their size or sector, know what help is available and can access the most appropriate support.</p> answering member constituency Grantham and Stamford answering member printed Gareth Davies question first answered 26/04/2023 14:13:09 answering member 4850 label Biography information for Gareth Davies
	tabling member	4131 label Biography information for Jim Shannon

1606237

	registered interest
	date	22/03/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Business: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will hold discussions with the Secretary of State for Business and Trade on tax incentives for businesses with financial difficulties.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	171404
	answer	answer is ministerial correction date of answer 30/03/2023 answer text <p>The Chancellor of the Exchequer has regular discussions with the Secretary of State for Business and Trade on a range of issues, including on incentives for businesses.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 30/03/2023 08:14:56 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1604355

	registered interest
	date	15/03/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Electricity Generation: Taxation
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of introducing an investment allowance to the Electricity Generator Levy comparable with that under The Energy (Oil and Gas) Profits Levy.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	166222
	answer	answer is ministerial correction date of answer 21/03/2023 answer text <p>The Electricity Generator Levy (EGL) and the Electricity Profits Levy (EPL) are designed very differently. Unlike the EPL, the EGL is not a tax on a comprehensive measure of profit that is calculated after recognition of total revenues and costs. Instead, it is payable on the portion of revenues that exceed the long-run average for electricity prices. Rather than providing an investment allowance the government has taken into account the potential impact on investment in the design of the levy with the benchmark price, £75/MWh, being set at 1.5 times the pre-crisis level and indexed to CPI.</p> answering member constituency South Suffolk answering member printed James Cartlidge question first answered 21/03/2023 15:52:38 answering member 4519 label Biography information for James Cartlidge
	tabling member	4131 label Biography information for Jim Shannon

1604357

	registered interest
	date	15/03/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Sizewell C Power Station: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of using green bonds to finance the Government’s stake in the Sizewell C project.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	166224
	answer	answer is ministerial correction date of answer 21/03/2023 answer text <p>The UK Government Green Financing Framework, which sets out the parameters for the UK’s green gilts and retail Green Savings Bonds, currently excludes funding of nuclear energy projects. Any potential future changes to the Framework in the future to include nuclear energy would be transparently published by the Government.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 21/03/2023 12:42:18 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1602294

	registered interest
	date	08/03/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Lloyds Bank: Closures
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the implications for his Department's policies of Lloyds Bank closures in 2023.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	161290
	answer	answer is ministerial correction date of answer 13/03/2023 answer text <p>The Government believes that all customers, wherever they live, should have appropriate access to banking services. Nonetheless, 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><p>Guidance from the Financial Conduct Authority sets out its expectation of firms when they are deciding to close their branches. Firms are expected to carefully consider the impact of planned branch closures on the everyday banking and cash access needs of their customers and consider possible alternative access arrangements. This ensures that the implementation of closure decisions is undertaken in a way that treats customers fairly.</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 to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches in the UK. New shared banking 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> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 13/03/2023 15:02:14 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1586116

	registered interest
	date	17/02/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Income Tax: Scotland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has had recent discussions with his counterpart in the Scottish Government on income tax rates.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	146967
	answer	answer is ministerial correction date of answer 23/02/2023 answer text <p>HM Treasury Ministers and officials regularly engage with their Scottish Government counterparts on a range of issues, including tax matters.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 23/02/2023 15:46:21 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1584828

	registered interest
	date	07/02/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Individual Savings Accounts: Tax Allowances
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he plans to amend the tax-free entitlements for individual savings accounts in the next two years.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	141407
	answer	answer is ministerial correction date of answer 13/02/2023 answer text The Government recognises the importance of saving and is committed to ensuring that savings tax policy continues to support savers at all stages of life. This includes policy relating to ISAs, which remain popular across the UK - around 12 million adult ISAs were subscribed to in 2020-21.<p> </p><p> </p><p> </p>Individuals can save up to £20,000 into an ISA each year. This, coupled with the Personal Savings Allowance of up to £1,000 for basic rate taxpayers and up to £500 for higher rate taxpayers, ensures that most savers pay no tax on their savings income.<p> </p><p> </p><p> </p>The government keeps all aspects of savings tax policy under review as part of the process of policy development and delivery, with any changes made as part of the Budget process. answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 13/02/2023 14:32:22 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1582718

	registered interest
	date	01/02/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Environment Protection: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will amend the UK Government Green Financing Framework, published on 30 June 2021, to allow the proceeds of green bonds to finance nuclear energy projects.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	137770
	answer	answer is ministerial correction date of answer 07/02/2023 answer text <p>As set out in the British Energy Security Strategy, nuclear energy is a key part of the UK’s low-carbon energy mix alongside solar, wind and other energy sources. These technologies are important in tackling climate change and diversifying the UK’s supply, contributing to the UK’s energy security and sustainable growth.</p><p> </p><p>We do not rule out the possibility that the Framework may be revised at some point in the future (for example to reflect changing standards in the green bond market or to include Nuclear energy profits) and, if so, we will be transparent about any revisions at that time.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 07/02/2023 16:56:29 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1582724

	registered interest
	date	01/02/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tax Avoidance: Suicide
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many people who were liable for the Loan Charge have taken their own lives.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	137773
	answer	answer is ministerial correction date of answer 07/02/2023 answer text <p>Any loss of life is a tragedy, and the Government takes issues relating to loss of life extremely seriously. On 6 January 2023, HM Revenue and Customs wrote to the Treasury Select Committee to inform them that ten referrals have been made to the Independent Office for Police Conduct (IOPC) where a taxpayer has sadly taken their life and used a disguised remuneration scheme. HMRC made the first of these referrals to the IOPC in March 2019. Following referral HMRC has conducted internal investigations, eight investigations have concluded and there was no evidence of misconduct by any HMRC officer. Two investigations are currently ongoing. HMRC is committed to learning and making improvements so as to avoid causing undue stress and, wherever possible, identify taxpayers who need extra help and give them the support they need.</p><p> </p><p>Taxpayers are also supported by HMRC’s Extra Support Teams. These are teams of trained advisors who, where appropriate, signpost taxpayers to Voluntary and Community organisations. To further improve the emotional support offered to taxpayers, HMRC and Samaritans are working together to deliver an 18-month project. As part of the pilot, Samaritans will further strengthen the capability and confidence of HMRC’s Extra Support Teams by providing additional guidance and coaching techniques to identify taxpayers who might be in vulnerable circumstances. Where needed, HMRC will signpost taxpayers to specialist emotional support through a dedicated Samaritans helpline.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 07/02/2023 19:42:16 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1582725

	registered interest
	date	01/02/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tax Avoidance: Prosecutions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many promoters and operators of schemes now subject to the Loan Charge have been prosecuted for promoting and operating those schemes.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	137774
	answer	answer is ministerial correction date of answer 07/02/2023 answer text <p>The Honorable Member is referred to the answer provided on 14 November 2022 to the Question <a href="https://questions-statements.parliament.uk/written-questions/detail/2022-11-14/86483" target="_blank">UNI 86483</a></p><p> </p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 07/02/2023 19:44:29 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1582726

	registered interest
	date	01/02/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tax Avoidance: Bankruptcy
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department has made an estimate of the number of individuals who may be declared bankrupt in connection with the Loan Charge, including the use of section 684 notices.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	137775
	answer	answer is ministerial correction date of answer 06/02/2023 answer text <p>No assessment has been made of the number of people who may be declared bankrupt as a result of debts arising from the use of a disguised remuneration avoidance scheme.</p><p> </p><p>Where debts arise, HMRC are not always the only creditor. Some individuals are declared bankrupt as a result of a non-HMRC debt and some individuals may choose to enter insolvency themselves based on their overall financial position.</p><p> </p><p>HMRC only ever considers insolvency as a last resort, and they encourage taxpayers to get in contact to agree the best way to settle their tax debts. To date, HMRC has not initiated insolvency proceedings against any taxpayer for a Loan Charge debt.</p><p> </p><p>Anyone who is worried about being able to pay what they owe should contact HMRC, who may be able to agree an instalment arrangement based on the individuals’ financial circumstances. There is no maximum length for these arrangements.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins grouped question UIN 136718 question first answered 06/02/2023 18:37:12 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1582319

	registered interest
	date	31/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Employment Agencies: PAYE
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the adequacy of HMRC's processes for collecting PAYE tax from agencies.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	136672
	answer	answer is ministerial correction date of answer 07/02/2023 answer text <p>Agencies must deduct Income Tax and National Insurance Contributions (NICs) at source from payments of earnings to agency workers. HMRC’s processes for collecting any Income Tax and NICs due from agencies under Pay As You Earn (PAYE) are the same as those for other employers.</p><p> </p><p>Where HMRC finds that a UK agency has failed to account for Income Tax and NICs in circumstances where the agency rules apply to them, it will usually seek to recover unpaid amounts due from them. Whether the agency rules apply in a particular case is dependent on the facts of that case.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 07/02/2023 19:39:41 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1579492

	registered interest
	date	23/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Health Services: Devolution
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the impact of inflation on devolved assemblies' budgets for health services.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	129782
	answer	answer is ministerial correction date of answer 30/01/2023 answer text <p>The devolved administrations are well-funded to deliver all their devolved responsibilities, including health services.</p><p> </p><p>The 2021 Spending Review set the largest annual block grants, in real terms, of any spending review settlement since the devolution Acts. Those settlements are still growing in real terms this year, and over the three-year spending review period, despite inflation being higher than expected.</p><p> </p><p>This provides the devolved administrations with over 20% more funding per person than equivalent UK Government spending in other parts of the UK. This is around 25% more for the Scottish Government and around 20% more for the Welsh Government and NI Executive. It is for the devolved administrations to decide how to allocate their funding in devolved areas.</p><p> </p><p>Like many countries, the UK faces the twin challenge of a recession and high inflation as global energy price rises have been exacerbated by Putin’s war in Ukraine. The Government has set out its plan to halve inflation over the course of this year by remaining steadfast in support for the independent Monetary Policy Committee at the Bank of England, making difficult but responsible decisions on tax and spending to not add fuel to the fire, and by tackling high energy prices by holding down energy bills for households and businesses this year and next and investing in long-term energy security.</p> answering member constituency Salisbury answering member printed John Glen question first answered 30/01/2023 15:27:07 answering member 4051 label Biography information for John Glen
	tabling member	4131 label Biography information for Jim Shannon

1579494

	registered interest
	date	23/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	High Income Child Benefit Tax Charge
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing the threshold at which single-income families begin to pay the High Income Child Benefit Charge.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	129784
	answer	answer is ministerial correction date of answer 31/01/2023 answer text <p>The High Income Child Benefit Charge (HICBC) is charged on an individual rather than a household basis, in line with other tax policy. It applies to Child Benefit recipients who have, or whose partner has, an adjusted net income (ANI) of £50,000 regardless of family makeup.</p><p>It would not be practical for HMRC to increase the threshold for single-income families only, as it would require HMRC to operate two parallel income thresholds. This would further complicate the tax system for families, would not ensure consistency between claimants, and would entail a significant operational burden for HMRC. Tax simplification is a priority for this Government.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 31/01/2023 15:15:35 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1567474

	registered interest
	date	17/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Small Businesses: Costs
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what recent steps he has taken to help support small and medium-sized enterprises in (a) Northern Ireland and (b) the rest of the UK with increased costs.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	125360
	answer	answer is ministerial correction date of answer 24/01/2023 answer text <p>The new Energy Bills Discount Scheme (EBDS), which is replacing the Energy Bill Relief Scheme (EBRS) from 1 April 2023, will provide eligible businesses and other non-domestic energy users, including small and medium sized businesses, across the UK with a discount on high energy bills until 31 March 2024.</p><p> </p><p>The UK Government and the devolved administrations support services providing advice and help for SMEs. Businesses in Northern Ireland can find resources on <a href="https://www.nibusinessinfo.co.uk/" target="_blank">https://www.nibusinessinfo.co.uk/</a>. They can also call Invest Northern Ireland for free advisory services (0800 181 4422).</p><p> </p><p>More broadly, the Government has brought forward a number of measures which support smaller businesses over the past year. This includes cutting the cost of employment for hundreds of thousands of small businesses by increasing the Employment Allowance and helping smaller businesses access finance by extending the Recovery Loan Scheme.</p> answering member constituency South Suffolk answering member printed James Cartlidge question first answered 24/01/2023 13:38:10 answering member 4519 label Biography information for James Cartlidge
	tabling member	4131 label Biography information for Jim Shannon

1564756

	registered interest
	date	09/01/2023
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Public Sector: Borrowing
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of trends in the levels of Government borrowing in the last five years.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	118931
	answer	answer is ministerial correction date of answer 16/01/2023 answer text <p>Trends in the level of borrowing in the last five years reflect the UK dealing with the consequences of significant global shocks.</p><p> </p><p>By 2018-19, the Government had succeeded in reducing the deficit from the 2009-10 peak by four-fifths. However, following the actions taken during the pandemic, borrowing reached a post-war high in 2020-21. While it decreased in 2021-22, this still remained more than double the level seen in 2019-20. Borrowing is expected to increase this year as the Government has taken action to support families and businesses with their energy bills.</p><p> </p><p>You can find recent borrowing figures in HM Treasury’s Autumn Statement 2022 document, found here: <a href="https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/1118417/CCS1022065440-001_SECURE_HMT_Autumn_Statement_November_2022_Web_accessible__1_.pdf" target="_blank">AUTUMN STATEMENT 2022 (publishing.service.gov.uk)</a></p> answering member constituency Salisbury answering member printed John Glen question first answered 16/01/2023 13:47:17 answering member 4051 label Biography information for John Glen
	tabling member	4131 label Biography information for Jim Shannon

1562827

	registered interest
	date	19/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Cryptoassets
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what assessment he has made of the potential benefits of crypto (a) currencies and (b) assets to society.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	113223
	answer	answer is ministerial correction date of answer 09/01/2023 answer text <p>The government’s ambition is to make the UK a global hub for cryptoasset technology and investment. In April, previous Ministers set out a number of reforms which will see the regulation and aspects of tax treatment of cryptoassets evolve.</p><p> </p><p>The Bank of England’s Financial Policy Committee has noted that the underlying technologies behind cryptoassets could bring a number of benefits to financial services, including reduced transaction costs and greater operational resilience.</p><p> </p><p>For instance, certain stablecoins could drive transformational changes in financial markets and offer consumers new ways to transact and invest. Increased competition between existing UK payment systems could also potentially lead to lower costs and improved services in the long run. The Financial Services and Markets Bill will allow HMT to bring stablecoins within the regulatory perimeter where they are used as a form of payment. This legislation will ensure that the UK’s regulatory framework is equipped to harness benefits of stablecoins, supporting the adoption of cutting-edge technologies, while mitigating the potential risks.</p><p> </p><p>Recent events in cryptoasset markets have highlighted the importance of establishing regulation which supports safe innovation and protects consumers and stability. The government will consult on its approach to regulating wider cryptoasset activities in the coming weeks.</p><p> </p><p>The government and the Cryptoasset taskforce continue to closely monitor the wider cryptoasset market and will stand ready to take further regulatory action if required.</p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 09/01/2023 09:01:05 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1551983

	registered interest
	date	15/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Climate Change: Government Assistance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor for the Exchequer, whether he will commit to bringing forward a support package for local authorities to be able to adapt and protect communities against the impacts of climate change.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	111590
	answer	answer is ministerial correction date of answer 21/12/2022 answer text <p>The 2023-24 Local Government Finance Settlement provides an increase in Core Spending Power for local authorities of around 9%, making available almost £5 billion in additional funding, demonstrating how Government stands behind councils up and down the country. As democratically elected organisations, local authorities are responsible for managing their budgets and making spending decisions that reflect their priorities.</p><p> </p><p>The Department for Levelling Up, Housing and Communities is responsible for stewardship of the local government system and is committed to ensuring that funding allocations for councils are based on an up-to-date assessment of their needs and resources.</p> answering member constituency Salisbury answering member printed John Glen question first answered 21/12/2022 09:02:47 answering member 4051 label Biography information for John Glen
	tabling member	4131 label Biography information for Jim Shannon

1551984

	registered interest
	date	15/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Carbon Emissions: Finance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, what plans he has to incorporate lessons learned from the recent UK Investment Bank local lending pilots into government policy on financing Net Zero.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	111591
	answer	answer is ministerial correction date of answer 21/12/2022 answer text <p>The UK Infrastructure Bank (UKIB) has a mandate to tackle climate change and support regional and local economic growth across the UK.</p><p> </p><p>UKIB has launched three pilot programmes with Transport for Greater Manchester, West Yorkshire Combined Authority, and Bristol City Council to support the development of its Local Authority Advisory Function. UKIB has processes in place to regularly review progress on these pilots and identify replicable elements of these projects, with a view to disseminating this knowledge to a wider pool of local authorities.</p><p> </p><p>The Bank is operationally independent but has developed an open dialogue with both HM Treasury and BEIS, including sharing their experiences of the development of their advisory and local lending functions.</p><p> </p><p> </p><p>In the first Strategic Steer to UKIB published in March of this year, the then-Chancellor set expectations that the UKIB should work constructively with government and institutions in each nation of the UK to maximise the impact of its investments and to develop a nuanced understanding of market characteristics, so investments can be targeted appropriately.</p> answering member constituency South Suffolk answering member printed James Cartlidge question first answered 21/12/2022 10:33:58 answering member 4519 label Biography information for James Cartlidge
	tabling member	4131 label Biography information for Jim Shannon

1551604

	registered interest
	date	14/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	North Sea Oil: Shetland
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an estimate of the potential impact of the Rosebank oil field development on tax receipts in the next ten years.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	110710
	answer	answer is ministerial correction date of answer 28/12/2022 answer text <p>The Office for Budget Responsibility’s (OBR) forecast at Autumn Statement 2022 estimates revenues from Energy Profits Levy are expected to be £41.6 billion over the next six years. Total UK oil and gas revenues over this period are forecast to be around £80 billion.</p><p> </p><p>A full breakdown of revenues for all North Sea oil taxes (including Ring-Fence Corporation Tax and Petroleum Revenue Tax) can be found in the Economic and Fiscal Outlook published by the OBR in November 2022.</p><p> </p><p>OBR forecasts for oil and gas revenues do not separate out specific projects or taxpayers.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 28/12/2022 11:30:30 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1550942

	registered interest
	date	13/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Sanctions: Russia
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether his Department is taking steps with Cabinet colleagues to investigate whether the transfer of (a) funds and (b) properties in the UK by families of Russian oligarchs is done to evade sanctions.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	109563
	answer	answer is ministerial correction date of answer 19/12/2022 answer text <p>The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, assesses all reported breaches of financial sanctions regulations. Regulations prohibit any person intentionally acting to circumvent prohibitions, or enabling and facilitating breaches of financial sanctions. Financial institutions and estate agents are considered relevant firms under the regulations and therefore have additional obligations, including to report frozen assets and any suspected breaches they are aware of.</p><p>OFSI is able to utilise a variety of enforcement powers should investigations prove a breach has occurred, including publicising breaches and imposing a civil monetary penalty where cases meet the threshold. The National Crime Agency investigates the most serious evasion of sanctions and associated money laundering.</p> answering member constituency Salisbury answering member printed John Glen question first answered 19/12/2022 14:13:45 answering member 4051 label Biography information for John Glen
	tabling member	4131 label Biography information for Jim Shannon

1549511

	registered interest
	date	07/12/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Bank Services: Vulnerable Adults
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of a cashless society on vulnerable people.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	105416
	answer	answer is ministerial correction date of answer 12/12/2022 answer text <p>The government recognises that while the transition towards digital payments brings many opportunities cash continues to be used by millions of people across the UK, including those who may be in vulnerable groups.</p><p> </p><p>The Financial Conduct Authority (FCA) has a considerable evidence base on cash provision and use across the UK. Analysis that was published by the FCA in February 2020 found that 5.4 million people are still reliant on cash. Meanwhile, the FCA’s analysis shows that, as of the end of 2021, over 95% of the population are within two kilometres of a free-to-use cash access point, such as a free-to-use ATM, bank branch or Post Office branch.</p><p> </p><p>The government is currently taking legislation to protect access to cash across the UK through Parliament as part of the Financial Services and Markets Bill 2022. The legislation will establish the FCA as the lead regulator for access to cash with responsibility and powers to seek to ensure reasonable provision of withdrawal and deposit facilities. This will ensure that people and businesses can continue to access cash withdrawal and deposit facilities, which in turn, will support those who use cash in their daily lives. Further details about the Bill can be found on the Parliament website: <a href="https://bills.parliament.uk/bills/3326" target="_blank">https://bills.parliament.uk/bills/3326</a></p><p><strong> </strong></p> answering member constituency Arundel and South Downs answering member printed Andrew Griffith question first answered 12/12/2022 15:00:47 answering member 4874 label Biography information for Andrew Griffith
	tabling member	4131 label Biography information for Jim Shannon

1541740

	registered interest
	date	14/11/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tax Avoidance: Bankruptcy
	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 number of people who will become bankrupt as a result of loan charge payments.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	86481
	answer	answer is ministerial correction date of answer 16/11/2022 answer text <p>I refer the Honourable Member to the replies given to the Honourable Member for Hemsworth on 9 December 2021, UINs 87576 and 87577, to the Honourable Member for Ealing Central and Acton on 11th January, UIN 93833 and to the Honourable Member for Plaid Cymru on 27<sup>th</sup> April, UIN 08923.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 16/11/2022 14:43:05 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1541741

	registered interest
	date	14/11/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tax Avoidance
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, if he will make an estimate of the amount of tax avoided through disguised remuneration schemes that will be paid back by people who recommended, promoted and operated these schemes.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	86482
	answer	answer is ministerial correction date of answer 22/11/2022 answer text <p>I refer the Hon. Member to the answer given to UIN 59955 on 18 October.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 22/11/2022 16:52:53 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon

1541742

	registered interest
	date	14/11/2022
	answering body	Treasury
	answering dept id	14
	answering dept short name	Treasury
	answering dept sort name	Treasury
	hansard heading	Tax Avoidance: Prosecutions
	house id	1
	legislature	25259 pref label House of Commons
	question text	To ask the Chancellor of the Exchequer, how many (a) promoters and (b) operators of schemes now subject to the loan charge have been prosecuted for those schemes.
	tabling member constituency	Strangford
	tabling member printed	Jim Shannon
	uin	86483
	answer	answer is ministerial correction date of answer 22/11/2022 answer text <p>I refer the Hon. Member to the answer that was given on 3 November 2021 to the Question <a href="https://questions-statements.parliament.uk/written-questions/detail/2021-10-25/62867" target="_blank">UIN 62867</a></p><p>I also note that you have recently asked a similar question (<a href="https://questions-statements.parliament.uk/written-questions/detail/2022-06-07/13728" target="_blank">13728</a>) and so thought it prudent to add the following context;</p><p> </p><p>It is important to consider the complexities of criminal investigations of this nature when reflecting on progress to date. Whilst legislation came into force from 2016, the Loan Charge was a new charge on disguised remuneration loan balance outstanding at 5 April 2019.</p><p> </p><p>Investigations (and any resulting trials) into circumstances like these are typically complex and lengthy. These cases often involve multiple participants, so require thorough investigation.</p> answering member constituency Louth and Horncastle answering member printed Victoria Atkins question first answered 22/11/2022 17:34:44 answering member 4399 label Biography information for Victoria Atkins
	tabling member	4131 label Biography information for Jim Shannon