Tag: Rachel Reeves

The below Parliamentary question was asked by Rachel Reeves on 2016-05-19.

To ask Mr Chancellor of the Exchequer, what estimate he has made of the potential effect of reductions in capital gains tax rates announced in the Budget 2016 on (a) the prevalence of converting income into capital gains and (b) income tax receipts.

Mr David Gauke

Budget 2016 announced reductions in the basic rate of Capital Gains Tax (CGT) to 10% and the main rate to 20%, excluding gains on residential property and carried interest. The purpose of these changes is to encourage individuals to invest in companies, helping them to access the capital they need to expand and create jobs.

The estimated cost of this measure was published at Budget 2016 and provided in the table below:

Table 1: Total estimated Exchequer impact of Budget 2016 CGT basic and main rate reductions

	2016-17	2017-18	2018-19	2019-20	2020-21
£m	-105	-630	-605	-670	-735

The costing in Table 1 includes an estimate of the impacts on CGT, Income Tax and Stamp Duty Land Tax receipts. The total estimated Exchequer cost accounts for behavioural responses, including greater realisation of gains, and increased incentive to take capital gains relative to income. This can include a wide range of behavioural changes. The impact on Income Tax is only one aspect of this costing.

No separate estimate was made of the impact on CGT receipts of converting income into capital gains. Finance Bill 2016 contains provisions to strengthen anti-avoidance rules to prevent opportunities for people to shift income to capital in order to gain a tax advantage, through making changes to the Transactions in Securities Rules and introducing a new Targeted Anti Avoidance Rule.

The below Parliamentary question was asked by Rachel Reeves on 2016-07-06.

To ask Mr Chancellor of the Exchequer, if he will set out his plans for reaching the new target for corporation tax of less that 15 per cent.

Mr David Gauke

The Chancellor set out his ambition to build on the work of the last six years and go even further in reducing the rate of corporation tax to 15% or lower.

The below Parliamentary question was asked by Rachel Reeves on 2016-10-19.

To ask the Secretary of State for Education, how many schools applied successfully to the Education Funding Agency for funding for asbestos removal between 2010 and 2016; and what the (a) name, (b) type and (c) local authority is of each such school.

Nick Gibb

The Education Funding Agency (EFA) does not hold a breakdown of funding information, in the format requested, in relation to the removal of asbestos or renovation of school buildings.

Under the Control of Asbestos Regulations 2012, the primary responsibility for managing asbestos lies with the person or persons responsible for the maintenance or repair of a building. For schools, this will be the local authority, school governors or academy trust.

The table below summarises the capital budgets from 2011-12 to 2016-17 that were provided for school maintenance, refurbishment and rebuilding, including where appropriate the removal and/or safe containment of asbestos-containing materials. As these works are covered by the capital funding programmes listed below, the Department does not allocate a separate budget for this purpose; and there are no plans to do so in future years.

The Department does not hold directly comparable allocation or expenditure data on prior years.

(All values £m)	2011-12 Budget	2012-13 Budget	2013-14 Budget	2014-15 Budget	2015-16 Budget	2016-17 Budget
School Condition Allocations (funding provided to local authorities and voluntary-aided schools)	1,054	861	749	699	690	661
Devolved Formula Capital (funding provided direct to schools)	185	162	149	138	134	130
Funding for academies, multi-academy trusts, state-funded special schools and other specialist providers for state-funded pupils (including DFC).	161	376	504	562	576	617
Priority Schools Building Programme (PSBP) (delivered by central government)	0	0	90	603	999	1,050
Total	1,400	1,399	1,492	2,002	2,399	2,458

The below Parliamentary question was asked by Rachel Reeves on 2014-06-25.

To ask the Secretary of State for Work and Pensions, pursuant to the Answer of 11 June 2014, Official Report, column 174W, on universal credit, whether he has approved the Department for Work and Pensions’ business case for the implementation of universal credit.

Esther McVey

The Chief Secretary to the Treasury has approved the UC Strategic Outline Business Case plans for the remainder of this Parliament (2014-15) as per the Ministerial announcement (5th December 2013, Official Report, column 65WS) —link to WMS:

http://www.publications.parliament.uk/pa/cm201314/cmhansrd/cm131205/wmstext/131205m0001.htm#column_65ws

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The below Parliamentary question was asked by Rachel Reeves on 2014-06-25.

To ask the Secretary of State for Work and Pensions, when the IT system developed by his Department for universal credit will be fully operating; and when this system will start to be decommissioned to make way for the digital solution developed by the Cabinet Office.

Esther McVey

As part of the wider transformation in the development of digital services, the Department will further develop the work completed jointly with the Government Digital Service to test and implement an enhanced digital service. This enhanced digital service will integrate work and benefits activity allowing us to deliver the full scope of Universal Credit for all claimant types.

Our single target operating model sets out how we will transform our approach and ways of working to ultimately make the Universal Credit service fully available online. Where it is both practical and operationally sensible to do so, we will integrate together the enhanced digital service with the existing Universal Credit service.

We expect an early version of the digital service to be introduced to a limited number of claimants and staff by the end of 2014.

The below Parliamentary question was asked by Rachel Reeves on 2014-06-25.

To ask the Secretary of State for Work and Pensions, when the IT system being developed by his Department for universal credit will be fully operating.

Esther McVey

As part of the wider transformation in the development of digital services, the Department will further develop the work completed jointly with the Government Digital Service to test and implement an enhanced digital service. This enhanced digital service will integrate work and benefits activity allowing us to deliver the full scope of Universal Credit for all claimant types.

Our single target operating model sets out how we will transform our approach and ways of working to ultimately make the Universal Credit service fully available online. Where it is both practical and operationally sensible to do so, we will integrate together the enhanced digital service with the existing Universal Credit service.

We expect an early version of the digital service to be introduced to a limited number of claimants and staff by the end of 2014.

The below Parliamentary question was asked by Rachel Reeves on 2015-02-10.

To ask the Secretary of State for Work and Pensions, with reference to paragraph 13 of his Department’s impact assessment of universal credit, published in December 2012, what his latest estimate is of the potential increase in social security payments arising from the introduction of universal credit due to changes in entitlement rules and increased take-up.

Mr Mark Harper

I refer the hon. Member to the written answer I gave her on 9 February 2015, UIN223271- 223274.

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