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  • Gregory Campbell – 2016 Parliamentary Question to the HM Treasury

    Gregory Campbell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Gregory Campbell on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, what progress he is making on his plans to begin to reduce public sector net debt as a share of gross domestic product in 2016-17.

    Harriett Baldwin

    The latest Office for Budget Responsibility forecast published in November 2015 shows that the government is on track to reduce public sector net debt as a share of GDP in 2016-17. The government remains committed to continuing the job of returning the public finances to a more sustainable position. In a low inflationary environment, taking account for economic shocks, the most reliable way to bring debt down as a share of GDP is to run a surplus and maintain it in normal times.

  • Gregory Campbell – 2016 Parliamentary Question to the HM Treasury

    Gregory Campbell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Gregory Campbell on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, what representations he has received on financial institutions’ plans to offer negative or zero rates of interest to savers.

    Harriett Baldwin

    HM Treasury has not received any representations on financial institutions’ plans to offer negative or zero rates of interest to savers.

    The levels of interest being paid to savers and their disclosure was explored as part of the Financial Conduct Authority’s (FCA) Cash Savings Market Study report, which was published in January 2015. The report found that competition in the cash savings market was not working well for many consumers and, in response, the FCA has consulted on and will subsequently be introducing new rules from 1 December 2016 designed to both improve competition and the information savers receive. As part of these new rules, firms will need to make it clear to consumers what interest rate they are getting for their account.

  • Martyn Day – 2016 Parliamentary Question to the Foreign and Commonwealth Office

    Martyn Day – 2016 Parliamentary Question to the Foreign and Commonwealth Office

    The below Parliamentary question was asked by Martyn Day on 2016-03-02.

    To ask the Secretary of State for Foreign and Commonwealth Affairs, if he will take steps to require all oil products sold in the UK to carry a Certificate of Origin to ensure that they do not come from Daesh-controlled areas.

    Mr Tobias Ellwood

    There is no evidence of oil products originating from Daesh-controlled areas reaching the UK market. The majority of Daesh’s oil is refined and sold within the territory it controls with the rest being sold in other parts of Syria and Iraq, including to the Asad regime, and smaller amounts being smuggled onto the regional black market. By halting and reversing Daesh’s territorial advance, Global Coalition military action has squeezed Daesh’s revenue sources. Our targeting of Daesh’s oil facilities has reduced its production capability by 25%, which equates to approximately 10% of their total income.

    In parallel to this military assault on Daesh’s oil facilities, the UK has led efforts to create and enforce an international sanctions regime to cut Daesh off from trading with international markets, including in oil products. This regime is underpinned by UN Security Council Resolutions 2178, 2199, 1267 and 2253. We work closely with our regional partners to ensure these sanctions are fully implemented. We also work closely with the oil industry in the UK, and further afield, to prevent Daesh procuring the equipment and fuel additives it needs to keep its oil production going.

  • Matthew Offord – 2016 Parliamentary Question to the HM Treasury

    Matthew Offord – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Matthew Offord on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, what plans he has to simplify the taxation regime.

    Mr David Gauke

    The Government is committed to simplifying the tax system, and so is taking forward legislation to put the Office of Tax Simplification (OTS) on a permanent, statutory footing, with an expanded role and capacity.

    The OTS has recently published reviews on small company taxation and the closer alignment of income tax and National Insurance contributions. The Government will consider the OTS’s recommendations carefully.

    The topics of future OTS reviews will be announced in due course.

  • Matthew Offord – 2016 Parliamentary Question to the HM Treasury

    Matthew Offord – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Matthew Offord on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, what assessment he has made of the potential effect of the abolition of higher-rate tax relief on pension contributions for higher-rate taxpayers.

    Mr David Gauke

    The Government held a consultation last year on the future of pensions tax relief. As the Chancellor announced at Autumn Statement, the Government will respond to this consultation at Budget.

  • Stuart C. McDonald – 2016 Parliamentary Question to the HM Treasury

    Stuart C. McDonald – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Stuart C. McDonald on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, what progress his Department has made on its studies of the steps taken by the utilities airlines and other industries in response to falling oil and gas prices; and whether the conclusions of those studies will be published.

    Damian Hinds

    The Treasury has engaged with industry to stress the importance of passing through wholesale cost reductions to consumers. The Treasury has produced internal studies to examine how far and how quickly the benefits of oil and price falls were fed through to consumers. We are pleased that recently the six major energy suppliers have announced cuts in their tariffs – it’s a good start but there’s more to do. The Government looks forward to the Provisional decision on remedies of the Competition and Markets Authority, due this month, and continues to monitor developments closely.

  • Chris Heaton-Harris – 2016 Parliamentary Question to the HM Treasury

    Chris Heaton-Harris – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Chris Heaton-Harris on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, what information HM Revenue and Customs holds on (a) the nationality of individuals who hold National Insurance (NI) numbers and (b) whether an individual NI number is active with regards to PAYE or benefits claims.

    Mr David Gauke

    I refer the honourable members to the recent HMRC release.

    https://www.gov.uk/government/statistics/tax-credit-statistics-on-eea-nationals

    “

  • Chris Heaton-Harris – 2016 Parliamentary Question to the HM Treasury

    Chris Heaton-Harris – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Chris Heaton-Harris on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, how many individuals recorded in (a) HM Revenue and Customs’ and (b) the Department of Work and Pension’s computer systems who were nationals of another EEA member country at time of registration for a National Insurance (NI) number and are recorded as having arrived in the last four years using the earlier of his or her arrival date or NI number registration date have either (i) paid NI contributions over the previous year, (ii) paid PAYE income tax over the previous year and (iii) claimed benefits or tax credits over the previous year.

    Mr David Gauke

    I refer the honourable members to the recent HMRC release.

    https://www.gov.uk/government/statistics/tax-credit-statistics-on-eea-nationals

    “

  • Chris Heaton-Harris – 2016 Parliamentary Question to the HM Treasury

    Chris Heaton-Harris – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Chris Heaton-Harris on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, if he will publish the statistical information on active National Insurance numbers issued to EEA citizens requested by Jonathan Portes under the Freedom of Information Act on 2 December 2015.

    Mr David Gauke

    I refer the honourable members to the recent HMRC release.

    https://www.gov.uk/government/statistics/tax-credit-statistics-on-eea-nationals

    “

  • David Jones – 2016 Parliamentary Question to the HM Treasury

    David Jones – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by David Jones on 2016-03-02.

    To ask Mr Chancellor of the Exchequer, what discussions (a) he and (b) ministers of his Department have had with their Welsh Government counterparts on the potential benefits to North Wales of the Northern Powerhouse.

    Greg Hands

    Ministers from the Treasury and Wales Office regularly meet with members of the Welsh Government. The Rt. Honourable Member is right to recognise that north Wales is well positioned to play an integral role in the Northern Powerhouse. The UK Government wants to work with the Welsh Government and partners like the Economic Ambition Board to improve productivity and drive further growth in the region.