Over the past two years, the Government has taken unprecedented action to protect millions of businesses, including the Coronavirus Job Retention Scheme and Government-guaranteed loans.<\/p>
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We have brought forward a number of measures to support businesses this year, including extending the Recovery Loan Scheme until June 2024; freezing the business rates multiplier for 2022-23; cutting business rates by 50% for eligible retail, hospitality and leisure businesses in 2022-23 up to a cash cap of £110,000 per business; and permanently setting the Annual Investment Allowance at its highest ever level of £1 million from 1 April 2023, instead of reverting to £200,000 as previously planned.<\/p>
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The Government also increased the Employment Allowance from £4,000 to £5,000, which cuts the cost of employment for 495,000 small businesses.<\/p>
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Additionally, the Government is helping all eligible UK businesses, including small and medium sized businesses, with their energy bills through the Energy Bill Relief Scheme.<\/p>
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This builds on existing business support, including the Business Support Helpline which provides businesses with tools, resources and signposting to specialist organisations.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4519", "label" : {"_value" : "Biography information for James Cartlidge"} } , "answeringMemberConstituency" : {"_value" : "South Suffolk"} , "answeringMemberPrinted" : {"_value" : "James Cartlidge"} , "dateOfAnswer" : {"_value" : "2022-11-01", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-11-01T15:55:02.593Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-10-24", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Small Businesses"} , "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 fiscal steps his Department is taking to support small and medium size enterprises.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4090", "label" : {"_value" : "Biography information for Mr Jonathan Lord"} } , "tablingMemberConstituency" : {"_value" : "Woking"} , "tablingMemberPrinted" : [{"_value" : "Mr Jonathan Lord"} ], "uin" : "69616"} , {"_about" : "http://data.parliament.uk/resources/1462797", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1462797/answer", "answerText" : {"_value" : "
The information requested is not readily available to HMRC and could only be obtained at a disproportionate cost.<\/p>
<\/p>
HMRC estimated around 4.2 million non-taxpayer/basic-rate taxpayer married couples, and civil partnerships, are eligible to receive the Marriage Allowance.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4517", "label" : {"_value" : "Biography information for Lucy Frazer"} } , "answeringMemberConstituency" : {"_value" : "South East Cambridgeshire"} , "answeringMemberPrinted" : {"_value" : "Lucy Frazer"} , "dateOfAnswer" : {"_value" : "2022-05-20", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "1505"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-05-20T12:28:05.77Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-05-13", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Married People: Tax Allowances"} , "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 recent estimate he has made of the number of married couples eligible to receive the Marriage Allowance.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4090", "label" : {"_value" : "Biography information for Mr Jonathan Lord"} } , "tablingMemberConstituency" : {"_value" : "Woking"} , "tablingMemberPrinted" : [{"_value" : "Mr Jonathan Lord"} ], "uin" : "1504"} , {"_about" : "http://data.parliament.uk/resources/1462798", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1462798/answer", "answerText" : {"_value" : "
The information requested is not readily available to HMRC and could only be obtained at a disproportionate cost.<\/p>
<\/p>
HMRC estimated around 4.2 million non-taxpayer/basic-rate taxpayer married couples, and civil partnerships, are eligible to receive the Marriage Allowance.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4517", "label" : {"_value" : "Biography information for Lucy Frazer"} } , "answeringMemberConstituency" : {"_value" : "South East Cambridgeshire"} , "answeringMemberPrinted" : {"_value" : "Lucy Frazer"} , "dateOfAnswer" : {"_value" : "2022-05-20", "_datatype" : "dateTime"} , "groupedQuestionUIN" : {"_value" : "1504"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2022-05-20T12:28:05.847Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2022-05-13", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Married People: Tax Allowances"} , "houseId" : {"_value" : "1"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"} } ], "questionText" : "To ask the Chancellor of the Exchequer, how many couples claiming the Marriage Allowance are claiming retrospectively for (a) two years (b) three years and (c) four years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4090", "label" : {"_value" : "Biography information for Mr Jonathan Lord"} } , "tablingMemberConstituency" : {"_value" : "Woking"} , "tablingMemberPrinted" : [{"_value" : "Mr Jonathan Lord"} ], "uin" : "1505"} , {"_about" : "http://data.parliament.uk/resources/1148378", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1148378/answer", "answerText" : {"_value" : "
The fundamentals of the British economy are strong \u2013 wages are growing at the fastest rate in over a decade, employment is at a joint record high and the unemployment rate is at its lowest in over 40 years. Inflation has been at or around target since the start of 2019, and as a result wages have now outpaced inflation on a CPI basis for over a year.<\/p>
On 1 April 2019, we increased the National Living Wage by 4.9% to £8.21 - an above inflation increase which meant that a full-time worker on the National Living Wage would be earning £690 more over the coming year. Supported by the National Living Wage, the lowest earners have seen their wages grow by 8% above inflation between April 2015 and April 2018.<\/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" : "2019-10-08", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2019-10-08T12:08:40.167Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2019-10-04", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Inflation and Pay"} , "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 comparative assessment he has made of rates of wage growth and inflation.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4090", "label" : {"_value" : "Biography information for Mr Jonathan Lord"} } , "tablingMemberConstituency" : {"_value" : "Woking"} , "tablingMemberPrinted" : [{"_value" : "Mr Jonathan Lord"} ], "uin" : "294713"} , {"_about" : "http://data.parliament.uk/resources/1148149", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1148149/answer", "answerText" : {"_value" : "
Based on the Office for Budget Responsibility\u2019s (OBR) published policy costings, we estimate the cumulative loss to the Exchequer from the successive fuel duty freezes from financial year 2011-12 to the current financial year 2018-19 to be around £46.2bn to the benefit of the UK taxpayer.<\/p>
<\/p>
The annual impacts on the Exchequer are reported in the table below.<\/p>
<\/p><\/td> | <\/p><\/td> | <\/p><\/td> | 2011-12<\/p><\/td> | 2012-13<\/p><\/td> | 2013-14<\/p><\/td> | 2014-15<\/p><\/td> | 2015-16<\/p><\/td> | 2016-17<\/p><\/td> | 2017-18<\/p><\/td> | 2018-19<\/p><\/td><\/tr> |
Exchequer impact (£m)<\/p><\/td> | -2,275<\/p><\/td> | -3,465<\/p><\/td> | -4,645<\/p><\/td> | -5,800<\/p><\/td> | -6,375<\/p><\/td> | -6,815<\/p><\/td> | -7,875<\/p><\/td> | -8,070<\/p><\/td><\/tr><\/tbody><\/table> <\/p> The OBR\u2019s policy costings are available at the following link:<\/p> <\/p> |