The government is extending the sunset clause for the Enterprise Investment Scheme (EIS) and the Venture Capital Trust (VCT) scheme to 2035.<\/p>
The UK-EU Trade and Cooperation Agreement is now the primary framework governing subsidy control between the UK and EU. As such, EU State aid rules no longer apply to the UK, save for the limited circumstances covered by the Windsor Framework.<\/p>
For the EIS and VCT schemes, the government is engaging with the EU, under the Windsor Framework, due to Northern Ireland\u2019s unique access to the EU Single Market.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-04-25", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-25T10:33:32.193Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-04-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "UK-EU Trade and Cooperation Agreement"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government, further to remarks by Baroness Vere of Norbiton on 21 February (HL Deb col 666) with regard to the Trade and Cooperation Agreement in the context of engaging with the EU for approval for extending the enterprise investment scheme (EIS) and venture capital trust (VCT) scheme, whether the subsidy control provisions of the Trade and Cooperation Agreement apply to EIS and VCT relief, in particular the requirement under Article 363 of that agreement that a subsidy must be selective.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4295", "label" : {"_value" : "Biography information for Lord Leigh of Hurley"} } , "tablingMemberPrinted" : [{"_value" : "Lord Leigh of Hurley"} ], "uin" : "HL3766"} , {"_about" : "http://data.parliament.uk/resources/1700718", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1700718/answer", "answerText" : {"_value" : "
NS&I raises cost effective finance for government from the retail savings market. It does this through offering savings products to consumers, including Premium Bonds. Funds raised by NS&I from these products, including Premium Bonds, flow to the National Loans Fund (NLF). The NLF is the government\u2019s main borrowing and lending account, and to this end, it undertakes borrowing (primarily by issuing gilts via the Debt Management Office) and uses proceeds and other central government surplus balances, including funds from NS&I\u2019s Premium Bonds, to manage its cash needs day-to-day.<\/p>
<\/p>
The Exchequer\u2019s cash needs are managed on an aggregate basis, meaning funds raised from Premium Bonds are not held in a separate account and do not receive a separate rate of return (which in any case is determined by the market as the government is ultimately a price taker). Therefore, there is not a single rate of return on NS&I proceeds and it would not be possible to provide an estimate of returns from retaining the proceeds of Premium Bonds.<\/p>
<\/p>
When a customer divests their holdings of Premium Bonds, these repayments are also funded via the NLF\u2019s activities and are typically processed within three working days. However, in exceptional circumstances, such as Bank Holidays, this may take longer. This process allows HM Treasury to manage Exchequer cashflows in a cost effective manner.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-04-29", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-29T14:32:57.907Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-04-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Premium Bonds"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government what is their estimate for each of the past three years of their returns from retaining the proceeds of cashed-in Premium Bonds for up to six days before they are transferred to the holder\u2019s bank account.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/260", "label" : {"_value" : "Biography information for Lord Wills"} } , "tablingMemberPrinted" : [{"_value" : "Lord Wills"} ], "uin" : "HL3827"} , {"_about" : "http://data.parliament.uk/resources/1700735", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1700735/answer", "answerText" : {"_value" : "
The Government already cut employee NICs by 4p, self-employed NICs by 3p and abolished the requirement to pay Class 2 for self-employed people across Autumn and Spring without increasing borrowing or cutting spending. That is the model the Government wants to follow when it is prudent to go further.<\/p>
<\/p>
The ambition to abolish NICs is about reducing tax and rewarding work, not about reforming the contributory benefits system. It is a long-term ambition, and the Government has been clear, this cannot be done overnight and this can only be done in a fiscally responsible way.<\/p>
<\/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/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-04-25", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-25T10:35:56.107Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-04-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "National Insurance Contributions"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government, further to the Written Answer by Baroness Vere of Norbiton on 8 April (HL3589), whether they will now answer the question put; namely, what is their assessment of the implications for calculating entitlement to contributory working age benefits and pensions of abolishing, rather than cutting, national insurance contributions.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4234", "label" : {"_value" : "Biography information for Baroness Lister of Burtersett"} } , "tablingMemberPrinted" : [{"_value" : "Baroness Lister of Burtersett"} ], "uin" : "HL3770"} , {"_about" : "http://data.parliament.uk/resources/1700761", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1700761/answer", "answerText" : {"_value" : "
The Government is committed to incentivising greater saving and investment, to help hard working people save for their future goals and build greater financial resilience.<\/p>
<\/p>
The Help to Save scheme was launched in September 2018 and is intended to promote financial resilience among working households on low incomes by supporting them to kickstart a regular, long-term savings habit and build a financial buffer for a rainy day.<\/p>
Individuals can also save up to £20,000 into an Individual Savings Account (ISA) each year, and any savings income received within an ISA is tax free. This, along with the Personal Savings Allowance of up to £1,000 for basic rate taxpayers means that around 85% of people with savings income pay no tax on that income.<\/p>
<\/p>
However, the Government also recognises that people need support to make effective investment decisions. This is why the Government and FCA are working on a joint review of the boundary between financial advice and guidance to ensure people can access appropriate support with their financial decision-making.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-04-24", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-24T14:44:04.443Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-04-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Personal Savings"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government, following the findings of the Financial Conduct Authority survey indicating a decrease in savings and investing among UK adults, what steps they are taking to help individuals and families save and invest.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/1796", "label" : {"_value" : "Biography information for Lord Taylor of Warwick"} } , "tablingMemberPrinted" : [{"_value" : "Lord Taylor of Warwick"} ], "uin" : "HL3813"} , {"_about" : "http://data.parliament.uk/resources/1700781", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1700781/answer", "answerText" : {"_value" : "
The abolition of Multiple Dwellings Relief follows an external evaluation which found no strong evidence the relief is meeting its original objectives of supporting investment in the private rented sector.<\/p>
Larger investors who purchase 6 or more properties in a single transaction can still continue to benefit from the non-residential rates of Stamp Duty Land Tax.<\/p>
The government will continue to engage with stakeholders in the build to rent sector to understand any concerns.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4580", "label" : {"_value" : "Biography information for Baroness Vere of Norbiton"} } , "answeringMemberPrinted" : {"_value" : "Baroness Vere of Norbiton"} , "dateOfAnswer" : {"_value" : "2024-04-23", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-23T11:35:03.907Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-04-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Multiple Occupation: Stamp Duty Land Tax"} , "houseId" : {"_value" : "2"} , "legislature" : [{"_about" : "http://data.parliament.uk/terms/25277", "prefLabel" : {"_value" : "House of Lords"} } ], "questionText" : "To ask His Majesty's Government what discussions they had with the \"build to rent\" sector to understand the impact of the proposed abolition of the Stamp Duty Land Tax Multiple Dwellings Relief announced in the Spring Budget, beyond the consultation from November 2021 to February 2022.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4883", "label" : {"_value" : "Biography information for Lord Moylan"} } , "tablingMemberPrinted" : [{"_value" : "Lord Moylan"} ], "uin" : "HL3777"} , {"_about" : "http://data.parliament.uk/resources/1700816", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1700816/answer", "answerText" : {"_value" : "
The HMRC Stakeholder Conference was attended by 184 external stakeholders from a range of sectors and organisations, including professional bodies, agents, business representative organisations, businesses, customs, and the voluntary and community sector.<\/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" : "2024-04-23", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-04-23T10:38:24.317Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-04-15", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Revenue and Customs: Conferences"} , "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 list the organisations that attended HMRC Stakeholder Conference 2024.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/140", "label" : {"_value" : "Biography information for Dame Margaret Hodge"} } , "tablingMemberConstituency" : {"_value" : "Barking"} , "tablingMemberPrinted" : [{"_value" : "Dame Margaret Hodge"} ], "uin" : "21500"} , {"_about" : "http://data.parliament.uk/resources/1700937", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1700937/answer", "answerText" : {"_value" : "
I refer my hon. Friend to the answer I gave on 21 March 2024 to question UIN 18911<\/a>.<\/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" : "2024-04-22", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2024-04-22T08:59:43.507Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-04-15", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Landlords: Income Tax"}
, "houseId" : {"_value" : "1"}
, "legislature" : [{"_about" : "http://data.parliament.uk/terms/25259", "prefLabel" : {"_value" : "House of Commons"}
}
], "questionText" : "To ask the Chancellor of the Exchequer, with reference to the report entitled Property income review: simplifying income tax for residential landlords, published by the Office for Tax Simplification on 25 October 2022, if he will take steps to introduce legislative proposals for a brightline test to clarify when property letting activities subject to income tax would qualify as a trade.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1508", "label" : {"_value" : "Biography information for Sir Geoffrey Cox"}
}
, "tablingMemberConstituency" : {"_value" : "Torridge and West Devon"}
, "tablingMemberPrinted" : [{"_value" : "Sir Geoffrey Cox"}
], "uin" : "21603"}
, {"_about" : "http://data.parliament.uk/resources/1700946", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1700946/answer", "answerText" : {"_value" : " The government launched the Breathing Space scheme on 4 May 2021, and as of February 2024, over 216,000 people in problem debt have benefited from Breathing Space protections.<\/p> <\/p> In developing the scheme, the government took the decision that sixty days is an appropriate period for breathing space to last to give individuals the time to engage with debt advice, whilst maintaining fairness and certainty for creditors.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4639", "label" : {"_value" : "Biography information for Bim Afolami"}
}
, "answeringMemberConstituency" : {"_value" : "Hitchin and Harpenden"}
, "answeringMemberPrinted" : {"_value" : "Bim Afolami"}
, "dateOfAnswer" : {"_value" : "2024-04-18", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2024-04-18T13:21:26.82Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-04-15", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Debt Respite Scheme"}
, "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 has made an assessment of the potential merits of extending the Breathing Space (Debt Respite Scheme) to 180 days.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4122", "label" : {"_value" : "Biography information for Alex Cunningham"}
}
, "tablingMemberConstituency" : {"_value" : "Stockton North"}
, "tablingMemberPrinted" : [{"_value" : "Alex Cunningham"}
], "uin" : "21658"}
, {"_about" : "http://data.parliament.uk/resources/1701017", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1701017/answer", "answerText" : {"_value" : " HMT\u2019s expenditure on these related areas are all published in the public domain and can be found across the below links<\/p> <\/p> a) https://www.gov.uk/government/collections/gpc-spend<\/a><\/p> b) https://www.gov.uk/government/collections/25000-spend<\/a><\/p>