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47195
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WrittenParliamentaryQuestion
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unstar this property answer text <p>The £200 million Forces Help to Buy scheme commenced on 1 April 2014, meaning that Servicemen and women can now borrow up to 50% of their salary, up to a maximum of £25,000, interest-free, providing a boost to those needing to find a deposit to buy their own home.</p><p> </p><p>To assist the transition of serving personnel to civilian life, the MOD offers a wide-ranging resettlement programme which includes a briefing by the Joint Services Housing Advice Office. This offers advice and information about a range of topics that armed forces personnel may find useful relating to an individual's housing needs before they leave the armed forces.</p><p> </p><p>Once a person leaves service, any need for social housing becomes a local authority matter. The MOD is working closely with the Department for Communities and Local Government to ensure the fair treatment of service families in need of social housing and ensure they are given proper priority on housing waiting lists.</p><p> </p><p>The Government recognises that there is more that can be done to provide practical support to our veterans and their families in this area. In February I announced LIBOR funding of £40 million to support charities which assist veterans with housing needs in order to build new homes, buy new accommodation and renovate old facilities. Projects are expected to include hostels and half-way houses for veterans who have fallen on hard times, supported housing for the wounded, injured and sick, and long-term care homes.</p><p> </p>
61455
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WrittenParliamentaryQuestion
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unstar this property answer text <p> </p><p>The Government is committed to reintroducing exit checks. By April 2015, comprehensive exit checks will apply on scheduled and commercial air, sea and rail routes. <br><br>We have recently introduced new powers in the Immigration Act 2014 to support embarkation checks at the border, and we continue to work with carriers and port operators to explore the least burdensome way of delivering the exit checks commitment.</p><p> </p> more like this
50013
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WrittenParliamentaryQuestion
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unstar this property answer text <p> </p><p>The Home Office has had meetings with a number of immigration law firms who <br>represent Tier 1 (Investor) clients in which these issues have been raised. <br>The firms consider that removing the requirement to top up investments, and <br>extending the list of qualifying investments, would attract more investors to <br>the UK and encourage investments which would lead to greater returns.<br><br>The Government is currently considering its response to the report on the Tier <br>1 (Investor) route published by the Migration Advisory Committee (MAC) on 25 <br>February 2014, which made recommendations on these issues. We will announce <br>our decisions in due course.</p><p> </p> more like this
50014
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WrittenParliamentaryQuestion
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unstar this property answer text <p> </p><p>The Home Office has had meetings with a number of immigration law firms who <br>represent Tier 1 (Investor) clients in which these issues have been raised. <br>The firms consider that removing the requirement to top up investments, and <br>extending the list of qualifying investments, would attract more investors to <br>the UK and encourage investments which would lead to greater returns.<br><br>The Government is currently considering its response to the report on the Tier <br>1 (Investor) route published by the Migration Advisory Committee (MAC) on 25 <br>February 2014, which made recommendations on these issues. We will announce <br>our decisions in due course.</p><p> </p> more like this
44784
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WrittenParliamentaryQuestion
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unstar this property answer text <p>The Migration Advisory Committee (MAC) advises the Government on economic issues relating to migration.<br><br>On 1 July 2013 the MAC published a &quot;Report on the economic and labour market impacts of tier 1 entrepreneur and investor migrants to the UK&quot; which it had commissioned from the Migration Observatory. The report made a number of findings, although it concluded that it was too early to make a full assessment of the economic contribution of the two routes without further research. The report is available on the gov.uk website at:<br><br><a href="https://www.gov.uk/government/publications/economic-and-labour-market-impacts-tier-1-entrepreneur-and-investor-migrants" target="_blank">https://www.gov.uk/government/publications/economic-and-labour-market-impacts-tier-1-entrepreneur-and-investor-migrants</a><br><br>More recently, on 25 February 2014 the MAC published its own report, &quot;Tier 1 (Investor) route: investment thresholds and economic benefits&quot; in response to a Government commission. The MAC concluded that the direct investment required by the route is of little or no benefit, but there is some benefit from indirect spending by investors and their families in the UK (although this is difficult to quantify). The report is available on the gov.uk website at:<br><br><a href="https://www.gov.uk/government/publications/the-investment-limits-and-economic-benefits-of-the-tier-1-investor-route-feb-2014" target="_blank">https://www.gov.uk/government/publications/the-investment-limits-and-economic-benefits-of-the-tier-1-investor-route-feb-2014</a><br><br>The Government keeps all routes under review and is currently considering its response to the MAC's report on the Tier 1 (Investor) route.</p><p> </p>
49058
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WrittenParliamentaryQuestion
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unstar this property answer text <p><strong>At Budget 2014 the government announced it will implement Office of Tax Simplification (OTS) recommendations to simplify the taxation of employee benefits and expenses, employee share schemes, and partnerships. It will also simplify National Insurance contributions (NICs) for the self-employed by collecting class 2 NICs through Self Assessment from April 2016, as recommended by the OTS. </strong></p> more like this
47166
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WrittenParliamentaryQuestion
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unstar this property answer text <p><strong>The Current Account Switching Service launched in September of last year, and has had a very positive impact. Early signs are positive, with switching numbers in Q4 of 2013 up by 17 per cent compared to Q4 of the previous year. </strong></p><p> </p><p><strong>The Financial Conduct Authority will carry out a review in September of this year into the effectiveness of the Current Account Switching Service. This will include an assessment of the effect the introduction of seven day account switching has had on the number of people changing bank account provider. </strong></p><p> </p> more like this
77525
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WrittenParliamentaryQuestion
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unstar this property answer text <p>Annual Investment Allowance (AIA) has been used to encourage investment in plant and machinery by all businesses. The number of unincorporated businesses and companies that received AIA is presented in the table below, and has been rounded to the nearest 1,000. The latest year for which figures are available is 2011-12.</p><p> </p><table><tbody><tr><td> </td><td><p>2010-11</p></td><td><p>2011-12</p></td></tr><tr><td><p>Number Of AIA Claims</p></td><td><p>1,203,000</p></td><td><p>1,222,000</p></td></tr></tbody></table><p> </p><p> </p> more like this
64658
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WrittenParliamentaryQuestion
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unstar this property answer text <p>By April this year this Government's increases in the personal allowance (for those born after 5 April 1948) are estimated to have taken over 3 million individuals out of the income tax system altogether. 384,000 of these individuals live in the South East region, which includes the Thames Valley and the Parliamentary Constituency of Windsor.</p><p> </p><p>These estimates are based on the 2011-12 Survey of Personal Incomes, projected to 2014-15 using economic assumptions consistent with the Office for Budget Responsibility's March 2014 economic and fiscal outlook.</p><p> </p><p> </p><p>HM Treasury does not publish this information at constituency level.</p> more like this
79007
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WrittenParliamentaryQuestion
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answer
unstar this property answer text <p>Since 2010, the Government has cut the main rate of corporation tax from 28% to 21%. It will fall further next year, to 20%, giving the UK the joint lowest rate of corporation tax in the G20. The Small Profits Rate has also been cut to 20%.</p><p> </p><p>These cuts are a central part of the Government’s long-term economic plan. They are intended to make the UK more competitive, supporting business investment and job creation.</p><p> </p><p>Government modeling suggests that the corporation tax cuts introduced in this parliament will:</p><p>· increase business investment by between 2.5% and 4.5% (£3.6bn to £6bn in today’s prices) in the long term</p><p>· increase GDP by between 0.6% and 0.8% (£9.6bn to £12.2bn in today’s prices) in the long term</p><p> </p><p>Foreign direct investment decisions are influenced by a range of factors including skills, market access, and infrastructure. Consequently, it is difficult to isolate the exact impact of the corporation tax cuts from reform in other areas. But recently published data on inward investment has been very encouraging.</p><p> </p><p>In their 2013/2014 Inward Investment Report, UKTI said ONS data showed the value of FDI stock increased from £725.6bn in 2010, to £936.5bn in 2012.</p><p> </p><p>UKTI also reported that the UK attracted more inward investment projects last year than in any year since records began in the 1980s. UKTI recorded 1773 projects, creating 66,390 new jobs.</p><p> </p><p>This is supported by analysis from Ernst and Young, who use their own independent database to assess inward investment. Ernst and Young’s Annual Attractiveness Survey, published in June, showed the number of inward investment projects in the UK had risen by 15% in the past year, against the background of a European market that grew by just 4%.</p><p> </p><p> </p><p>As noted above, it is difficult to isolate the impact of tax policy on these trends, and UKTI does not have estimates of how much of the new investment has been a direct result of the lower rate of corporation tax. But it is clear that the corporation tax reforms have changed perceptions of the UK competitiveness. For the past two years, the UK has ranked highest in the KPMG survey on international tax competitiveness, ahead of countries including the US, the Netherlands and Switzerland.</p>