The Government believes the double taxation of work is unfair. That is why we\u2019ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.<\/p>
Cutting NICs rates does not affect anyone\u2019s entitlement to the State Pension or contributory benefits.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4407", "label" : {"_value" : "Biography information for Nigel Huddleston"} } , "answeringMemberConstituency" : {"_value" : "Mid Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Nigel Huddleston"} , "dateOfAnswer" : {"_value" : "2024-03-18", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "18543"} , {"_value" : "18544"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-03-18T15:55:10.017Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-03-13", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "National Insurance: Pensioners"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on pensioners' finances.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4571", "label" : {"_value" : "Biography information for Gill Furniss"} } , "tablingMemberConstituency" : {"_value" : "Sheffield, Brightside and Hillsborough"} , "tablingMemberPrinted" : [{"_value" : "Gill Furniss"} ], "uin" : "18542"} , {"_about" : "http://data.parliament.uk/resources/1695892", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1695892/answer", "answerText" : {"_value" : "
The Government believes the double taxation of work is unfair. That is why we\u2019ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.<\/p>
Cutting NICs rates does not affect anyone\u2019s entitlement to the State Pension or contributory benefits.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4407", "label" : {"_value" : "Biography information for Nigel Huddleston"} } , "answeringMemberConstituency" : {"_value" : "Mid Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Nigel Huddleston"} , "dateOfAnswer" : {"_value" : "2024-03-18", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "18542"} , {"_value" : "18544"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-03-18T15:55:10.067Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-03-13", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "National Insurance: State Retirement Pensions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on funding for state pensions.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4571", "label" : {"_value" : "Biography information for Gill Furniss"} } , "tablingMemberConstituency" : {"_value" : "Sheffield, Brightside and Hillsborough"} , "tablingMemberPrinted" : [{"_value" : "Gill Furniss"} ], "uin" : "18543"} , {"_about" : "http://data.parliament.uk/resources/1695893", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1695893/answer", "answerText" : {"_value" : "
The Government believes the double taxation of work is unfair. That is why we\u2019ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.<\/p>
Cutting NICs rates does not affect anyone\u2019s entitlement to the State Pension or contributory benefits.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4407", "label" : {"_value" : "Biography information for Nigel Huddleston"} } , "answeringMemberConstituency" : {"_value" : "Mid Worcestershire"} , "answeringMemberPrinted" : {"_value" : "Nigel Huddleston"} , "dateOfAnswer" : {"_value" : "2024-03-18", "_datatype" : "dateTime"} , "groupedQuestionUIN" : [{"_value" : "18542"} , {"_value" : "18543"} ], "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-03-18T15:55:09.97Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-03-13", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "National Insurance: State Retirement Pensions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on determining eligibility criteria for the state pension.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4571", "label" : {"_value" : "Biography information for Gill Furniss"} } , "tablingMemberConstituency" : {"_value" : "Sheffield, Brightside and Hillsborough"} , "tablingMemberPrinted" : [{"_value" : "Gill Furniss"} ], "uin" : "18544"} , {"_about" : "http://data.parliament.uk/resources/1667861", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1667861/answer", "answerText" : {"_value" : "
The Government keeps all taxes and reliefs under review and considers a range of evidence, including data and research on factors like pricing, when assessing the effects of tax changes. While the Government does not control prices, a VAT relief may contribute to the conditions for price reductions.<\/p>
<\/p>
The Government continues to monitor the effects of the zero rate on period products to aid the policymaking process and is looking into whether savings are being passed on to consumers. HMT and HMRC work closely together to integrate the findings of their monitoring and evaluation processes into future tax relief policy.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4399", "label" : {"_value" : "Biography information for Victoria Atkins"} } , "answeringMemberConstituency" : {"_value" : "Louth and Horncastle"} , "answeringMemberPrinted" : {"_value" : "Victoria Atkins"} , "dateOfAnswer" : {"_value" : "2023-11-13", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-11-13T11:55:19.347Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-11-07", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Sanitary Protection: VAT"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, whether his Department is taking steps to help ensure that the cost saving arising from the removal of VAT on period products is passed onto consumers.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4571", "label" : {"_value" : "Biography information for Gill Furniss"} } , "tablingMemberConstituency" : {"_value" : "Sheffield, Brightside and Hillsborough"} , "tablingMemberPrinted" : [{"_value" : "Gill Furniss"} ], "uin" : "371"} , {"_about" : "http://data.parliament.uk/resources/1351516", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1351516/answer", "answerText" : {"_value" : "
The Government takes its environmental responsibilities very seriously. In June 2019 the UK became the first major economy to legislate to end our net contribution to climate change by 2050. According to analysis by PwC, the UK has decarbonised its economy faster than any G20 country since 2000.<\/p>
<\/p>
Last year, the PM set out his via his Ten Point Plan a blueprint to transition to a net zero economy whilst levelling up the country. This announced £12 billion of government investment to create and support up to 250,000 highly skilled green jobs in the UK, and spur over three times as much private sector investment by 2030. Further announcements will be made in the Government\u2019s Net Zero Strategy, which will be published ahead of COP 26.<\/p>
<\/p>
The CCC is an important advisor to the Government, advising on emissions targets and reports to Parliament on progress made. In December 2020, the CCC published an updated estimate of 0.5% of GDP in 2050 for the net cost of transitioning to net zero. The Government will fulfil its statutory requirement of formally responding to the CCC\u2019s advice alongside the Net Zero Strategy later in the year.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4597", "label" : {"_value" : "Biography information for Kemi Badenoch"} } , "answeringMemberConstituency" : {"_value" : "Saffron Walden"} , "answeringMemberPrinted" : {"_value" : "Kemi Badenoch"} , "dateOfAnswer" : {"_value" : "2021-09-06", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-09-06T14:48:39.817Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-08-18", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Carbon Emissions"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, if he will make it his policy to spend 1 per cent of GDP each year on meeting climate targets, as recommended by the Climate Change Committee in its report, Net Zero \u2013 The UK\u2019s contribution to stopping global warming, published May 2019.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4571", "label" : {"_value" : "Biography information for Gill Furniss"} } , "tablingMemberConstituency" : {"_value" : "Sheffield, Brightside and Hillsborough"} , "tablingMemberPrinted" : [{"_value" : "Gill Furniss"} ], "uin" : "41115"} , {"_about" : "http://data.parliament.uk/resources/1281704", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1281704/answer", "answerText" : {"_value" : "
Data released in July 2020 stated that customers with inactive lenders pay on average just 0.4% more than borrowers with the same lending characteristics with active lenders. In addition, the recent London School of Economics report on mortgage prisoners noted \u201ccapping SVRs at a level close to the best rate for new loans could create harm in other parts of the market, and we do not recommend it\u201d.<\/p>
<\/p>
The government is working closely with the Financial Conduct Authority and industry to develop switching options for mortgage consumers with inactive lenders.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4051", "label" : {"_value" : "Biography information for John Glen"} } , "answeringMemberConstituency" : {"_value" : "Salisbury"} , "answeringMemberPrinted" : {"_value" : "John Glen"} , "dateOfAnswer" : {"_value" : "2021-02-02", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2021-02-02T15:25:28.15Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2021-01-28", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Mortgages: Interest Rates"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, what plans he has to cap standard variable mortgage rates for inactive lenders to protect people who cannot move their mortgages.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4571", "label" : {"_value" : "Biography information for Gill Furniss"} } , "tablingMemberConstituency" : {"_value" : "Sheffield, Brightside and Hillsborough"} , "tablingMemberPrinted" : [{"_value" : "Gill Furniss"} ], "uin" : "145088"} , {"_about" : "http://data.parliament.uk/resources/1251022", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1251022/answer", "answerText" : {"_value" : "
The Government remains committed to supporting these borrowers and has worked with the FCA to implement rule changes to its mortgage lending rules, removing the regulatory barrier that prevented some customers, who otherwise may have been able to switch, from accessing new products. The new rules should allow customers to switch to an active lender as long as they meet the lenders\u2019 risk appetite and meet certain criteria, such as not looking to borrow more. Lenders have now started contacting borrowers who have been struggling to switch with options specifically designed for them, and I hope to see even more options from active lenders over the coming months.<\/p>
<\/p>
Some customers may not be eligible to access new mortgage products in line with the adapted affordability assessment. This is why the FCA recently confirmed additional options to support borrowers, including making intragroup switching easier and extending interest-only payments, recognising the impact of Covid-19 on borrowers. These modified rules came into force on 23 October 2020.<\/p>
<\/p>
Moreover, on 14 September, the Money and Pensions Service (MaPS) launched online information and a dedicated phone service (accessible via MaPS\u2019 main contact number) as a key source of information and advice for borrowers with inactive lenders, including signposting to specific brokers that will be able to help.<\/p>