The government is committed to ensuring the continued global success of the financial services sector. At the Autumn Statement, the government set out further progress in delivering on the Edinburgh and Mansion House reforms, taking ambitious steps to increase the flow of capital going to our more promising growth companies whilst further enhancing the financial services regulatory environment.<\/p>
<\/p>
Decisions on how firms like Lloyds Banking Group manage their workforce is a commercial consideration for the firms themselves. However, this government is committed to creating the right environment for businesses to invest, expand, and increase the number of high-quality jobs for people and this remains at the centre of the government\u2019s economic policy. For example, at the Autumn Statement the government announced that full expensing for qualifying business investments would be made permanent, giving the UK one of the most generous capital allowances regimes in the OECD on a net present value basis.<\/p>
<\/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" : "2023-12-08", "_datatype" : "dateTime"} , "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"} , "questionFirstAnswered" : [{"_value" : "2023-12-08T09:49:37.15Z", "_datatype" : "dateTime"} ]} , "answeringDeptId" : {"_value" : "14"} , "answeringDeptShortName" : {"_value" : "Treasury"} , "answeringDeptSortName" : {"_value" : "Treasury"} , "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"} , "hansardHeading" : {"_value" : "Lloyds Bank: Redundancy"} , "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 recent reports concerning job cuts at Lloyd's Bank, what steps they are taking to address challenges in the financial sector and mitigate the impact on employees.", "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" : "HL635"} , {"_about" : "http://data.parliament.uk/resources/1673083", "AnsweringBody" : [{"_value" : "Treasury"} ], "answer" : {"_about" : "http://data.parliament.uk/resources/1673083/answer", "answerText" : {"_value" : "
The OBR publishes its operating costs annually in its Annual Report and Accounts: https://obr.uk/topics/governance-and-reporting/ - annual<\/a><\/p> <\/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" : "2023-12-05", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-12-05T10:12:39.717Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Office for Budget Responsibility: Operating Costs"}
, "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 the annual operating cost of the Office for Budget Responsibility was in each of the last five years.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/350", "label" : {"_value" : "Biography information for Sir John Hayes"}
}
, "tablingMemberConstituency" : {"_value" : "South Holland and The Deepings"}
, "tablingMemberPrinted" : [{"_value" : "Sir John Hayes"}
], "uin" : "3696"}
, {"_about" : "http://data.parliament.uk/resources/1673084", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1673084/answer", "answerText" : {"_value" : " The Office for Budget Responsibility (OBR) was legally formed on 4 April 2011. The OBR publishes numbers of employees annually in its Annual Report and Accounts: https://obr.uk/topics/governance-and-reporting/ - annual<\/a><\/p> <\/strong><\/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" : "2023-12-05", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-12-05T10:11:18.72Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Office for Budget Responsibility: Staff"}
, "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 staff were employed by the Office for Budget Responsibility in each year since 2010.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/350", "label" : {"_value" : "Biography information for Sir John Hayes"}
}
, "tablingMemberConstituency" : {"_value" : "South Holland and The Deepings"}
, "tablingMemberPrinted" : [{"_value" : "Sir John Hayes"}
], "uin" : "3697"}
, {"_about" : "http://data.parliament.uk/resources/1673101", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1673101/answer", "answerText" : {"_value" : " The information is only available at disproportionate cost.<\/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" : "2023-11-30", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-11-30T16:35:35.727Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "High Income Child Benefit Tax Charge"}
, "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 the average income was of families paying the High Income Child Benefit Charge in 2020-21.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/1409", "label" : {"_value" : "Biography information for Mr Gregory Campbell"}
}
, "tablingMemberConstituency" : {"_value" : "East Londonderry"}
, "tablingMemberPrinted" : [{"_value" : "Mr Gregory Campbell"}
], "uin" : "3741"}
, {"_about" : "http://data.parliament.uk/resources/1673147", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1673147/answer", "answerText" : {"_value" : " Countries that have committed to apply Pillar 2 from 31 December 2023 or 1 January 2024 include: Australia, Austria, Belgium, Bulgaria, Canada, Croatia, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Liechtenstein, Luxembourg, Netherlands, New Zealand, Norway, Poland, Portugal, Romania, Slovenia, South Korea, Spain, Sweden, Switzerland and Vietnam. Japan are implementing for 1 April 2024.<\/p> <\/p> Guernsey, Isle of Man, Jersey, Hong-Kong and Singapore have committed to implement for 1 January 2025.<\/p> <\/p> There are many other jurisdictions that have taken steps towards Pillar 2 implementation.<\/p> <\/p> There are regular multilateral discussions at Ministerial level, including at the level of the G20, on how to ensure swift and coordinated implementation of Pillar 2, as well as the support that can be provided to developing countries in that regard.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4850", "label" : {"_value" : "Biography information for Gareth Davies"}
}
, "answeringMemberConstituency" : {"_value" : "Grantham and Stamford"}
, "answeringMemberPrinted" : {"_value" : "Gareth Davies"}
, "dateOfAnswer" : {"_value" : "2023-12-05", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-12-05T17:38:46.953Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax: International Cooperation"}
, "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 holds information on the countries that will implement the OECD Pillar 2 minimum corporation tax measures from 31 December 2023; and what discussions he has had with (a) the OECD and (b) his counterparts in other countries on the implementation of that measure.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4066", "label" : {"_value" : "Biography information for Priti Patel"}
}
, "tablingMemberConstituency" : {"_value" : "Witham"}
, "tablingMemberPrinted" : [{"_value" : "Priti Patel"}
], "uin" : "3784"}
, {"_about" : "http://data.parliament.uk/resources/1673148", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1673148/answer", "answerText" : {"_value" : " A Tax Information and Impact Note was published in March 2023 which sets out the impact on business of complying with Pillar 2.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4850", "label" : {"_value" : "Biography information for Gareth Davies"}
}
, "answeringMemberConstituency" : {"_value" : "Grantham and Stamford"}
, "answeringMemberPrinted" : {"_value" : "Gareth Davies"}
, "dateOfAnswer" : {"_value" : "2023-12-05", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-12-05T17:37:14.197Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Corporation Tax: International Cooperation"}
, "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 he has made of the impact on (a) UK based businesses and (b) foreign direct investment of implementation of the OECD Pillar 2 minimum corporation tax measures.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4066", "label" : {"_value" : "Biography information for Priti Patel"}
}
, "tablingMemberConstituency" : {"_value" : "Witham"}
, "tablingMemberPrinted" : [{"_value" : "Priti Patel"}
], "uin" : "3785"}
, {"_about" : "http://data.parliament.uk/resources/1673169", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1673169/answer", "answerText" : {"_value" : " It is for the Office for Budget Responsibility (OBR) to provide independent and authoritative analysis and forecasting for the UK public finances.<\/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" : "2023-12-05", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-12-05T10:09:36.313Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Economic Situation: Brexit"}
, "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 plans to undertake an assessment of the impact of the UK's departure from the EU on the economy.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4676", "label" : {"_value" : "Biography information for Marsha De Cordova"}
}
, "tablingMemberConstituency" : {"_value" : "Battersea"}
, "tablingMemberPrinted" : [{"_value" : "Marsha De Cordova"}
], "uin" : "3948"}
, {"_about" : "http://data.parliament.uk/resources/1673223", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1673223/answer", "answerText" : {"_value" : " The Energy Profits Levy (EPL) was introduced on 26 May 2022 to respond to exceptionally high prices that meant oil and gas companies were benefiting from unexpectedly high profits. While the EPL is in place, companies can claim around 91p in tax relief for every £1 they invest in the UK. This relief increases to £1.09 for every £1 for money invested towards reducing greenhouse gas emissions from the production of oil and gas. At Autumn Statement 2023, the Government confirmed the technical details of the EPL\u2019s price floor, the Energy Security Investment Mechanism (ESIM), which was introduced in June 2023 to give the sector the certainty to invest. The Government are committed to ending the EPL by March 2028 at the latest, or earlier if oil and gas prices return to historically normal levels due to the ESIM.<\/p> <\/p> The Electricity Generator Levy (EGL) is a time-limited tax on the extraordinary returns of electricity generators. The levy is not payable on renewable generation produced under Contracts for Difference, which will account for most new large renewable generation coming online in future years. To further support new renewables investment, at Autumn Statement 2023 the Chancellor announced an exemption from the EGL for new generation projects.<\/p>"}
, "answeringMember" : {"_about" : "http://data.parliament.uk/members/4850", "label" : {"_value" : "Biography information for Gareth Davies"}
}
, "answeringMemberConstituency" : {"_value" : "Grantham and Stamford"}
, "answeringMemberPrinted" : {"_value" : "Gareth Davies"}
, "dateOfAnswer" : {"_value" : "2023-12-05", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-12-05T15:01:44.24Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Offshore Industry: Taxation"}
, "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 an assessment of the potential impact of windfall taxes on the level of investment in offshore energy production.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4606", "label" : {"_value" : "Biography information for David Duguid"}
}
, "tablingMemberConstituency" : {"_value" : "Banff and Buchan"}
, "tablingMemberPrinted" : [{"_value" : "David Duguid"}
], "uin" : "3891"}
, {"_about" : "http://data.parliament.uk/resources/1673261", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1673261/answer", "answerText" : {"_value" : " Responsible decisions on borrowing are a key pillar of government support to the MPC in its action to bring inflation down to the 2% target. The external evidence suggests that for every extra 1% of GDP of borrowing (£25 billion), we could potentially be pushing up interest rates by as much as half a per cent. And there are reasons to believe that in current conditions it could be higher than that. Treasury modelling suggests that in the current economic conditions the impact might be between 0.5 and 1.25 per cent, without taking into account any supply-side impacts on the economy.<\/p> <\/p> More detail on the methodology can be found here : Further detail on HMT analysis of borrowing and interest rates - GOV.UK (www.gov.uk)<\/a><\/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" : "2023-12-01", "_datatype" : "dateTime"}
, "isMinisterialCorrection" : {"_value" : "false", "_datatype" : "boolean"}
, "questionFirstAnswered" : [{"_value" : "2023-12-01T15:08:05.847Z", "_datatype" : "dateTime"}
]}
, "answeringDeptId" : {"_value" : "14"}
, "answeringDeptShortName" : {"_value" : "Treasury"}
, "answeringDeptSortName" : {"_value" : "Treasury"}
, "date" : {"_value" : "2023-11-27", "_datatype" : "dateTime"}
, "hansardHeading" : {"_value" : "Public Sector Net Cash Requirement: 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, if he will publish an estimate of the potential impact of borrowing an additional 1% of gross domestic product on interest rates.", "registeredInterest" : {"_value" : "false", "_datatype" : "boolean"}
, "tablingMember" : {"_about" : "http://data.parliament.uk/members/4860", "label" : {"_value" : "Biography information for Dr Kieran Mullan"}
}
, "tablingMemberConstituency" : {"_value" : "Crewe and Nantwich"}
, "tablingMemberPrinted" : [{"_value" : "Dr Kieran Mullan"}
], "uin" : "4012"}
, {"_about" : "http://data.parliament.uk/resources/1673264", "AnsweringBody" : [{"_value" : "Treasury"}
], "answer" : {"_about" : "http://data.parliament.uk/resources/1673264/answer", "answerText" : {"_value" : " I believe that my honourable friend is referring to the recent consultation on an \u201cAlternative Method of VAT Collection - Split Payment\u201d. The consultation has now closed, and HMRC and HMT are taking this forward. You can see the full details here:<\/p> https://www.gov.uk/government/consultations/alternative-method-of-vat-collection-split-payment<\/a><\/p> <\/p> You may be interested to know that information on numbers of businesses in the trade sectors is published in the Annual UK VAT Statistics, which can be found here:<\/p>