The Government is working to improve living standards for everyone across the country. A new Ministerial Taskforce has been established to develop a comprehensive strategy to reduce child poverty. In addition, the government is introducing a Fair Repayment Rate on debt deductions in Universal Credit (UC), extending the Household Support Fund for another six months until 31 March 2025 \u2013 then extending this further for 2025-26, and continuing to make Discretionary Housing Payments in 2025-26. This package \u2013 which provides help on debt repayments, help during a crisis, and support for those struggling most with the cost of essentials \u2013 will improve economic security and resilience for those who need it most.<\/p>
<\/p>
The Government has also put growth as its number one mission, which will help families by boosting wages and putting more money in people\u2019s pockets. The approach of this government will centre on fostering good work. We will ensure the minimum wage is a true living wage and reform employment support to offer more people the dignity and purpose of meaningful employment.<\/p>
<\/p>
In relation to small businesses, the government is committed to making it easier for start-ups and scale-ups to access external sources of financial support. This includes extending the Enterprise Investment Scheme and Venture Capital Trust schemes to 2035; committing over £250 million in funding in 2025-26 for the British Business Bank\u2019s small business loans programmes; ensuring small businesses can access UK Export Finance\u2019s support and exploring the need for new products to support small exporters to access the insurance and finance they need; and publishing post implementation reviews of the Bank Referral Scheme and Commercial Credit Data Sharing Scheme. The government now intends to consult on enhancing both policies to better support SME access to finance.<\/p>
<\/p>
Late payments can bring cash-flow challenges for small businesses. We have already taken action to tackle late payments through passing additional reporting requirements for large firms in August, and the announcement of a consultation on options to go further. At Budget, we also announced from 1 October 2025, companies bidding for government contracts over £5 million per annum will be excluded from the procurement process if they do not pay their own suppliers within an average of 45 days. The government also views increasing its procurement spend with small businesses as an important economic growth lever, with further details on implementing this to be set out in the National Procurement Policy Statement next year.<\/p>
<\/p>
The government will maintain the Corporation Tax Small Profits Rate and marginal relief at their current rate and thresholds. This means 9 in 10 actively trading companies, including a majority of SMEs, will have a Corporation Tax rate lower than 25%. The £1 million Annual Investment Allowance will also be kept in place to provide the certainty businesses need to invest.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4621", "label" : {"_value" : "Biography information for Darren Jones"} } , "answeringMemberConstituency" : {"_value" : "Bristol North West"} , "answeringMemberPrinted" : {"_value" : "Darren Jones"} , "dateOfAnswer" : {"_value" : "2024-10-31", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-10-31T17:15:07.597Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-10-28", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Economic Situation: Coronavirus"} , "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 she will take steps to help mitigate the ongoing financial impact of the Covid-19 pandemic on (a) individuals and (b) small businesses.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : "http://data.parliament.uk/members/5122", "tablingMemberConstituency" : {"_value" : "Stratford-on-Avon"} , "tablingMemberPrinted" : [{"_value" : "Manuela Perteghella"} ], "uin" : "11347"} , {"_about" : "http://data.parliament.uk/resources/1737473", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1737473/answer", "answerText" : {"_value" : "
At Autumn Budget 2024, the government announced that Retail, Hospitality and Leisure (RHL) relief will be extended for 2025-26 at 40% up to a cash cap of £110,000 per business.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4797", "label" : {"_value" : "Biography information for James Murray"} } , "answeringMemberConstituency" : {"_value" : "Ealing North"} , "answeringMemberPrinted" : {"_value" : "James Murray"} , "dateOfAnswer" : {"_value" : "2024-10-31", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-10-31T16:40:47.117Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-10-28", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Business Rates: 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, if she will make an assessment of the potential merits of extending the /25 Retail, Hospitality and Leisure Business Rates Relief scheme into 2025/26.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4601", "label" : {"_value" : "Biography information for Andrew Bowie"} } , "tablingMemberConstituency" : {"_value" : "West Aberdeenshire and Kincardine"} , "tablingMemberPrinted" : [{"_value" : "Andrew Bowie"} ], "uin" : "11324"} , {"_about" : "http://data.parliament.uk/resources/1737474", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1737474/answer", "answerText" : {"_value" : "
Rural Rate Relief aims to ensure that key amenities are available, and community assets protected in rural areas. It provides 100% rate relief for properties that are based in eligible rural areas with populations below 3,000. To be eligible, the business must also be: the only village general store, food shop or post office, with a rateable value of up to £8,500; or the only public house or petrol station, with a rateable value of up to £12,500.<\/p>
<\/p>
The government is committed to creating a fairer business rates system that protects the high-street, supports investment, and is fit for the 21st century. At Autumn Budget 2024, the government published a discussion paper which sets out priority areas for further reform and invites stakeholders to a conversation about transforming the system over the Parliament.<\/p>"} , "answeringMember" : {"_about" : "http://data.parliament.uk/members/4797", "label" : {"_value" : "Biography information for James Murray"} } , "answeringMemberConstituency" : {"_value" : "Ealing North"} , "answeringMemberPrinted" : {"_value" : "James Murray"} , "dateOfAnswer" : {"_value" : "2024-10-31", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2024-10-31T17:17:52.913Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2024-10-28", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Business Rates: Rural Areas"} , "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 she will make an estimate of the potential impact on the economy of raising the threshold of Rural Rates Relief above the rateable value of (a) £8,500 for (i) village general stores, (ii) food shops and (iii) post offices and (b) £12,500 for (A) public houses and (B) petrol stations.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"} , "tablingMember" : {"_about" : "http://data.parliament.uk/members/4601", "label" : {"_value" : "Biography information for Andrew Bowie"} } , "tablingMemberConstituency" : {"_value" : "West Aberdeenshire and Kincardine"} , "tablingMemberPrinted" : [{"_value" : "Andrew Bowie"} ], "uin" : "11325"} , {"_about" : "http://data.parliament.uk/resources/1737478", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1737478/answer", "answerText" : {"_value" : "
Due to the recent nature of the trip it is not currently possible to estimate the carbon footprint of this visit.<\/p>
<\/p>
Further details for the trip will be published as part of the quarterly Ministers overseas travel at the following link.<\/p>
<\/p>
HMT ministers' meetings, hospitality, gifts and overseas travel - GOV.UK<\/a><\/p> <\/p> The final CO2e will be included within in the Sustainability Report section of HM Treasury 2024-25 Annual Report and Accounts.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4797", "label" : {"_value" : "Biography information for James Murray"}
}
, "answeringMemberConstituency" : {"_value" : "Ealing North"}
, "answeringMemberPrinted" : {"_value" : "James Murray"}
, "dateOfAnswer" : {"_value" : "2024-10-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2024-10-31T16:28:48.717Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-10-28", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Treasury: USA"}
, "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 is the estimated carbon footprint of her recent visit to Washington DC.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4108", "label" : {"_value" : "Biography information for Sir Gavin Williamson"}
}
, "tablingMemberConstituency" : {"_value" : "Stone, Great Wyrley and Penkridge"}
, "tablingMemberPrinted" : [{"_value" : "Sir Gavin Williamson"}
], "uin" : "11277"}
, {"_about" : "http://data.parliament.uk/resources/1737537", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1737537/answer", "answerText" : {"_value" : " The Government announced on 7th October that under the third stage of the Border Target Operating Model, Safety and Security declarations will be required for EU imports from 31 January 2025. Businesses who already complete Safety and Security import declarations do not need to make any changes to their existing systems or procedures, and businesses who will be required to complete Safety and Security declarations for the first time will only need to provide data deemed most critical to security.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4797", "label" : {"_value" : "Biography information for James Murray"}
}
, "answeringMemberConstituency" : {"_value" : "Ealing North"}
, "answeringMemberPrinted" : {"_value" : "James Murray"}
, "dateOfAnswer" : {"_value" : "2024-10-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2024-10-31T17:19:08.747Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-10-28", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Import Controls"}
, "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 assessment her Department has made of the impact of introducing the third stage of the Border Target Operating Model on 31 January 2025.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : "http://data.parliament.uk/members/5207", "tablingMemberConstituency" : {"_value" : "Wokingham"}
, "tablingMemberPrinted" : [{"_value" : "Clive Jones"}
], "uin" : "11511"}
, {"_about" : "http://data.parliament.uk/resources/1737136", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1737136/answer", "answerText" : {"_value" : " The Northern Ireland Executive (NIE) is being funded above its independently assessed relative need level of 124% in 2024-25 and 2025-26, including the 2024 restoration financial package. As a result of decisions taken at the Autumn Budget and Phase 1 of the Spending Review, the Northern Ireland Executive is receiving £18.2 billion in 2025-26. This represents the largest real-terms settlement since devolution.<\/p> <\/p> The NIE is responsible for deciding how to allocate their funding across their devolved responsibilities, including the provision of pay awards for health workers.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4621", "label" : {"_value" : "Biography information for Darren Jones"}
}
, "answeringMemberConstituency" : {"_value" : "Bristol North West"}
, "answeringMemberPrinted" : {"_value" : "Darren Jones"}
, "dateOfAnswer" : {"_value" : "2024-10-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2024-10-31T17:09:46.427Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-10-25", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Health Services: 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 assessment she has made of the availability of the funding required for the 5.5% pay increase recommended by the Pay Review Body for health workers in Northern Ireland.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : "http://data.parliament.uk/members/5356", "tablingMemberConstituency" : {"_value" : "North Antrim"}
, "tablingMemberPrinted" : [{"_value" : "Jim Allister"}
], "uin" : "11216"}
, {"_about" : "http://data.parliament.uk/resources/1737178", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1737178/answer", "answerText" : {"_value" : " The Bank of England has operational independence from the government to carry out its statutory responsibilities for monetary policy and financial stability. Monetary policy, including quantitative easing, is the responsibility of the independent Monetary Policy Committee at the Bank of England.<\/p> <\/p> The government remains committed to monetary policy independence, and rightly does not comment on the conduct or effectiveness of monetary policy.<\/p> <\/p> The Bank of England regularly conducts and publishes analysis on the inflationary impact of its monetary policy, including quantitative easing and quantitative tightening.<\/p> <\/strong><\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4518", "label" : {"_value" : "Biography information for Tulip Siddiq"}
}
, "answeringMemberConstituency" : {"_value" : "Hampstead and Highgate"}
, "answeringMemberPrinted" : {"_value" : "Tulip Siddiq"}
, "dateOfAnswer" : {"_value" : "2024-10-29", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2024-10-29T16:37:32.233Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-10-25", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Monetary Policy: Inflation"}
, "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 her Department has made an assessment of the potential impact of quantitative easing on inflation.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : "http://data.parliament.uk/members/5158", "tablingMemberConstituency" : {"_value" : "Great Yarmouth"}
, "tablingMemberPrinted" : [{"_value" : "Rupert Lowe"}
], "uin" : "11201"}
, {"_about" : "http://data.parliament.uk/resources/1736886", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1736886/answer", "answerText" : {"_value" : " No assessment has been made. The installation of certain energy-saving materials, including ground- and air- source heat pumps, in residential accommodation and charity buildings benefits from a temporary zero rate of VAT until 31 March 2027 (after which it reverts to the reduced rate of 5 per cent).<\/p> <\/p> There are currently no plans to extend this relief to include the sale of the components used in energy-saving materials, where they are not part of such an installation. However, the Chancellor keeps all taxes under review.<\/p> <\/p> <\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4797", "label" : {"_value" : "Biography information for James Murray"}
}
, "answeringMemberConstituency" : {"_value" : "Ealing North"}
, "answeringMemberPrinted" : {"_value" : "James Murray"}
, "dateOfAnswer" : {"_value" : "2024-10-31", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2024-10-31T16:59:28.95Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2024-10-24", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Heat Pumps"}
, "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 assessment she has made with the Secretary of State for Energy Security and Net Zero, of the potential merits of removing VAT from refrigerants used in heat pumps.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : "http://data.parliament.uk/members/5034", "tablingMemberConstituency" : {"_value" : "Cannock Chase"}
, "tablingMemberPrinted" : [{"_value" : "Josh Newbury"}
], "uin" : "11072"}
, {"_about" : "http://data.parliament.uk/resources/1736904", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1736904/answer", "answerText" : {"_value" : "