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  • Hannah Bardell – 2016 Parliamentary Question to the HM Treasury

    Hannah Bardell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Hannah Bardell on 2016-04-08.

    To ask Mr Chancellor of the Exchequer, whether the change to the discount rate applied to student loans applies to all parts of the UK.

    Greg Hands

    The Department for Business, Innovation and Skills (BIS) applies HM Treasury’s long term discount rate to calculate the carrying value of English student loans shown in the BIS financial statements.

    Loans issued by devolved administrations are shown in their respective financial statements. The accounting treatment and discount rates applied are a matter for them.

    HM Treasury is always open to discussion with the devolved administrations about such matters.

  • Tom Brake – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    Tom Brake – 2016 Parliamentary Question to the Department for Business, Innovation and Skills

    The below Parliamentary question was asked by Tom Brake on 2016-04-08.

    To ask the Secretary of State for Business, Innovation and Skills, what estimate he has made of the contribution of the arms export industry to the UK economy in 2014.

    Anna Soubry

    The Department does not collate data on the value of the total contribution that arms exports make to the UK economy. However, we do publish official statistics on defence exports, which show that the UK’s defence export total in 2014 was an estimated £8.5bn. Further details of defence exports can be found at: https://www.gov.uk/government/statistics/uk-defence-and-security-export-figures-2014

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  • James Cartlidge – 2016 Parliamentary Question to the HM Treasury

    James Cartlidge – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by James Cartlidge on 2016-04-08.

    To ask Mr Chancellor of the Exchequer, with reference to the Prudential Regulation Authority’s Draft Supervisory Statement on Buy-to-Let Underwriting Standards, published in March 2016, what assessment he has made of the potential effect of the 20 per cent growth in buy-to-let mortgage lending over the next three years on home ownership.

    Harriett Baldwin

    The Government is committed to supporting homeowners. One part of this commitment is ensuring that there is a level playing field between homeowners and landlords. In the 2015 Autumn Statement, we announced a 3 percentage point increase in the rates of Stamp Duty Land Tax applying to the purchase of additional residential properties, such as second homes and buy-to-let properties; and in the Summer Budget of 2015, we acted to restrict, to the basic rate of income tax, the tax relief on finance costs received by landlords of residential property.

    The Financial Policy Committee recently stated that the combination of forthcoming changes to mortgage interest tax relief and the implementation of the PRA Supervisory Statement will probably dampen growth of buy-to-let mortgage lending relative to lenders’ plans.

  • Catherine McKinnell – 2016 Parliamentary Question to the HM Treasury

    Catherine McKinnell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Catherine McKinnell on 2016-04-08.

    To ask Mr Chancellor of the Exchequer, what estimate he has made of the number of parents eligible for tax-free childcare who do not have access to the internet; and what plans he has to ensure all such families are not excluded from access to tax-free childcare due to lack of access to the internet.

    Damian Hinds

    The Government will publicise the Tax-Free Childcare (TFC) scheme in good time ahead of its introduction through a range of digital and print channels. HMRC will also work with the childcare industry and representative groups who interact regularly with parents to raise awareness of the scheme.

    HM Revenue and Customs is developing an online childcare calculator to help parents understand their eligibility for government childcare support. From early 2017, parents of the youngest children will be able to enter the scheme first, with all eligible parents brought in by the end of 2017. Parents will not be able to open childcare accounts prior to the launch of the scheme.

    TFC will be straightforward and quick to apply online for the vast majority of parents. We estimate that up to 9% of the families eligible for the scheme of that population may have issues with either accessing or using the internet. HM Revenue and Customs will ensure that assistance is provided, usually by telephone, so these families do not miss out on the support available.

    Tax-Free Childcare is part of the wider government childcare offer which will be worth over £6Bn per annum and together provide generous support to families on all levels of income.

  • Catherine McKinnell – 2016 Parliamentary Question to the HM Treasury

    Catherine McKinnell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Catherine McKinnell on 2016-04-08.

    To ask Mr Chancellor of the Exchequer, what estimate he has made of the number of parents who will not be eligible for tax-free childcare as a result of the decision to (a) lower the upper income limit per parent from £150,000 to £100,000 and (b) increase the minimum income level per parent from the equivalent of eight hours to 16 hours at the national living wage.

    Damian Hinds

    The Government will publicise the Tax-Free Childcare (TFC) scheme in good time ahead of its introduction through a range of digital and print channels. HMRC will also work with the childcare industry and representative groups who interact regularly with parents to raise awareness of the scheme.

    HM Revenue and Customs is developing an online childcare calculator to help parents understand their eligibility for government childcare support. From early 2017, parents of the youngest children will be able to enter the scheme first, with all eligible parents brought in by the end of 2017. Parents will not be able to open childcare accounts prior to the launch of the scheme.

    TFC will be straightforward and quick to apply online for the vast majority of parents. We estimate that up to 9% of the families eligible for the scheme of that population may have issues with either accessing or using the internet. HM Revenue and Customs will ensure that assistance is provided, usually by telephone, so these families do not miss out on the support available.

    Tax-Free Childcare is part of the wider government childcare offer which will be worth over £6Bn per annum and together provide generous support to families on all levels of income.

  • Catherine McKinnell – 2016 Parliamentary Question to the HM Treasury

    Catherine McKinnell – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Catherine McKinnell on 2016-04-08.

    To ask Mr Chancellor of the Exchequer, what plans his Department has to raise awareness of tax-free childcare with parents before that scheme is launched in early 2017.

    Damian Hinds

    The Government will publicise the Tax-Free Childcare (TFC) scheme in good time ahead of its introduction through a range of digital and print channels. HMRC will also work with the childcare industry and representative groups who interact regularly with parents to raise awareness of the scheme.

    HM Revenue and Customs is developing an online childcare calculator to help parents understand their eligibility for government childcare support. From early 2017, parents of the youngest children will be able to enter the scheme first, with all eligible parents brought in by the end of 2017. Parents will not be able to open childcare accounts prior to the launch of the scheme.

    TFC will be straightforward and quick to apply online for the vast majority of parents. We estimate that up to 9% of the families eligible for the scheme of that population may have issues with either accessing or using the internet. HM Revenue and Customs will ensure that assistance is provided, usually by telephone, so these families do not miss out on the support available.

    Tax-Free Childcare is part of the wider government childcare offer which will be worth over £6Bn per annum and together provide generous support to families on all levels of income.

  • Paul Flynn – 2016 Parliamentary Question to the Foreign and Commonwealth Office

    Paul Flynn – 2016 Parliamentary Question to the Foreign and Commonwealth Office

    The below Parliamentary question was asked by Paul Flynn on 2016-04-08.

    To ask the Secretary of State for Foreign and Commonwealth Affairs, whether he plans to require companies registered in the British Virgin Islands to publish details of all significant and beneficial owners and to place all such information on an online searchable register.

    James Duddridge

    Our priority for all the Overseas Territories that function with financial centres such as the British Virgin Islands has been for them to hold accurate and current beneficial ownership information on island in central registers or the equivalent, where they do not already do so, and to allow for UK law enforcement to access that information. The arrangement signed with the British Virgin Islands achieves this and represents a significant step forward in our ability to counter criminal activity and should be welcomed.

    As the Prime Minister, the Member for Witney (Mr Cameron) said in the House on 11 April, only about three countries in the world, including Britain, are implementing publically accessible central registers of company beneficial ownership information. If we had tried to push that on to the British Virgin Islands and other Overseas Territories straightaway, we would not have got nearly as far as we have. The actions taken by the British Virgin Islands and the other Overseas Territories puts them well ahead of many of our international partners.

  • Paul Flynn – 2016 Parliamentary Question to the Foreign and Commonwealth Office

    Paul Flynn – 2016 Parliamentary Question to the Foreign and Commonwealth Office

    The below Parliamentary question was asked by Paul Flynn on 2016-04-08.

    To ask the Secretary of State for Foreign and Commonwealth Affairs, whether he plans to require all companies registered in British Overseas Territories to publish detailed annual accounts.

    James Duddridge

    The Overseas Territories are separate jurisdictions with their own democratically elected governments under which they are responsible for company law.

  • Paul Flynn – 2016 Parliamentary Question to the Foreign and Commonwealth Office

    Paul Flynn – 2016 Parliamentary Question to the Foreign and Commonwealth Office

    The below Parliamentary question was asked by Paul Flynn on 2016-04-08.

    To ask the Secretary of State for Foreign and Commonwealth Affairs, whether he plans to prohibit the use of nominee directors for companies registered in British Overseas Territories.

    James Duddridge

    The Overseas Territories are separate jurisdictions with their own democratically elected governments under which they are responsible for company law.

  • Ian C. Lucas – 2016 Parliamentary Question to the HM Treasury

    Ian C. Lucas – 2016 Parliamentary Question to the HM Treasury

    The below Parliamentary question was asked by Ian C. Lucas on 2016-04-08.

    To ask Mr Chancellor of the Exchequer, what consultation took place with mesothelioma charities and other organisations before the announcement of the establishment of the National Mesothelioma Centre in Budget 2016.

    Greg Hands

    The National Mesothelioma Centre will be a collaboration between four leading institutions who have a major interest in the treatment of mesothelioma: National Heart and Lung Institute (NHLI) at Imperial College; Royal Brompton Hospital; Institute of Cancer Research (ICR); and Royal Marsden Hospital. This collaboration will form the hub of the Centre which will engage with all other hospitals in the UK to which mesotheliomas are referred and treated.

    Professor Sir Anthony Newton Taylor, Head of Research & Development at the National Heart & Lung Institute, who made the application for support from LIBOR fines, is working closely with the British Lung Foundation and other charities in order to ensure that experts from across the lung and cancer research community are able to contribute to this important enterprise.

    The £5 million grant, which is intended as seed funding, has been profiled over 4 years and will be paid to the National Mesothelioma Centre, once established. The funding will be subjected to standard Grant Terms and Conditions, including a feedback and reporting mechanism, and audit.