Tag: Seema Malhotra

The below Parliamentary question was asked by Seema Malhotra on 2015-12-16.

To ask Mr Chancellor of the Exchequer, what recent assessment he has made of the effects on the economy of the level of (a) consumer borrowing and (b) personal loans.

Harriett Baldwin

Household debt as a proportion of income has fallen to 144% in Q2 2015, from a peak of 168% in Q1 2008. To avoid repeating the mistakes of the past we have created the independent Financial Policy Committee (FPC) within the Bank of England to ensure emerging risks and vulnerabilities across the financial system as a whole are identified, monitored and effectively addressed.

The below Parliamentary question was asked by Seema Malhotra on 2016-01-22.

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of the increasing current account deficit on the UK economy.

Harriett Baldwin

Despite narrowing in Q3 2015 to -3.7 per cent of GDP, the current account deficit remains high by historical standards. The widening in the UK current account deficit in recent years has been driven by a deterioration in the UK’s net investment income from abroad, while the trade deficit has continued to improve. The Office for Budget Responsibility expect the income account to “improve gradually over the forecast period” as the factors that have temporarily depressed the returns on the UK’s net assets are expected to recede, and the current account deficit continues to narrow to -2.1 per cent by 2020. Furthermore, the government’s plan to complete the repair of the public finances will support a gradual narrowing of the current account deficit, limiting any effect on the exchange rate, though we remain vigilant to the risks.

The below Parliamentary question was asked by Seema Malhotra on 2016-02-24.

To ask the Secretary of State for Work and Pensions, what analysis his Department conducts of personal independence payment medical assessments to (a) help identify common issues which cause repeated appeals and reapplications and (b) ensure a consistent approach across such assessments.

Justin Tomlinson

The Department and Personal Independence Payment (PIP) Assessment Providers have robust audit and assurance regimes in place to check the quality and consistency of PIP assessments. These arrangements confirm that independent health professional advice complies with the required standards and that it is clear and medically reasonable. They also provide assurance that the assessment and opinion given are consistent so that, irrespective of where or by whom the assessment is carried out, claimants with conditions that have the same functional effect will ultimately receive the same benefit outcome.

Regular meetings take place with Her Majesty’s Court and Tribunals Service to discuss PIP appeals; feedback is provided to Assessment Providers if there is any indication that the assessment is a factor in appeals or reapplications to inform continuous improvement activity.

The below Parliamentary question was asked by Seema Malhotra on 2016-10-10.

To ask the Secretary of State for Education, how many and what proportion of schools are currently in debt; and to whom such schools are in debt.

Nick Gibb

The financial reporting requirements of academy trusts and maintained schools differ and therefore are not directly comparable. In the 2014/15 academic year, 113 academy trusts reported a cumulative revenue deficit in the August Accounts Return. This represents 4% of trusts submitting a return. At the end of the 2014-15 financial year, local authorities reported 944 LA-maintained schools with a deficit revenue balance. This represents 5.3% of such schools.

Further information on the financial position of these schools can be found in the financial statements of the academy trusts or for maintained schools the Consistent Financial Reporting (CFR) returns.

The below Parliamentary question was asked by Seema Malhotra on 2015-11-05.

To ask Mr Chancellor of the Exchequer, with reference to paragraph 5 of his Department’s document Fixing the foundations: creating a more prosperous nation, Cm9098, published in July 2015, what analysis his Department has made of the effects of changes to vehicle excise duty and the creation of a roads fund on UK productivity.

Damian Hinds

The reform of VED announced at the Summer Budget delivers long-term revenue sustainability whilst simplifying the current system. This reform enabled the government to set up a Roads Fund, which from 2020-21 will provide the necessary funding for a high performing road network that is as efficient as possible. This is vital for efficient running of business and enabling connections to bigger markets and labour pools.

The below Parliamentary question was asked by Seema Malhotra on 2015-11-16.

To ask Mr Chancellor of the Exchequer, what estimate he has made of the increased tax revenue from extending the National Living Wage to those aged 18 to 25.

Damian Hinds

Younger workers tend to have less experience than older workers in the labour market, and so there is a risk that too high a wage rate may make them relatively less attractive to employers. So, to minimise any negative impact on employment of younger workers, the National Living Wage is limited to those 25 and over. The Government has not therefore made an estimate of what the fiscal impact of this policy change would be.

The Office for Budgetary Responsibility estimate that, by 2020-21, the National Living Wage will increase income tax and NICs receipts by around £0.1bn, as set out in Table B.3 in of their July 2015 Economic and Fiscal Outlook. They assume that, by 2020-21, the overall impact of the policy on the public finances is to reduce public sector net borrowing by £0.2bn.

The below Parliamentary question was asked by Seema Malhotra on 2015-12-07.

To ask Mr Chancellor of the Exchequer, what estimate he has made of the change in tax income receipts arising from net migration being limited to tens of thousands.

Mr David Gauke

No estimate has been made of the change in income tax receipts arising from net migration.

Since May 2010 the Office for Budget Responsibility (OBR) has served as the Government’s independent fiscal watchdog. This includes responsibility for issuing five-year forecasts for the economy and public finances, at least twice a year, and assessment of the key sensitivities to this medium term forecast.

The OBR has not viewed changes to net migration as one of the key risks or sensitivities to the medium term forecast.

The below Parliamentary question was asked by Seema Malhotra on 2016-01-07.

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 10 December 2015 to Question 19047, what discussions he has had with the Office for Budget Responsibility on including the potential effect of recent Conservative Party manifesto commitments in its forecasting of economic growth.

Harriett Baldwin

The economy forecast produced by the OBR reflects current Government policy. As laid out in the Budget Responsibility and National Audit Act 2011, ‘Where any Government policies are relevant to the performance of that duty, the Office – must have regard to those policies, but may not consider what the effect of any alternative policies would be.’ The OBR note as risks to the fiscal forecast any significant policy commitments that are not quantifiable.

The below Parliamentary question was asked by Seema Malhotra on 2016-01-22.

To ask Mr Chancellor of the Exchequer, whether he has met with representatives from the Bank of England on the current account deficit; and if he will make a statement.

Harriett Baldwin

The Chancellor and the Governor of the Bank of England are statutorily required to meet to discuss the Financial Stability Report (FSR), and any other matters relating to the stability of the UK financial system, as soon as is reasonably practicable after the publication of the report.

At the most recent of these meetings—following the July 2015 FSR—the current account was discussed and the details of the meeting are published online by the Treasury at www.gov.uk.

The below Parliamentary question was asked by Seema Malhotra on 2016-02-24.

To ask the Secretary of State for Work and Pensions, what training and guidance is provided to medical assessors who examine claimants for personal independence payment on the implications of (a) dialysis and (b) other long-term medical treatments for such claimants.

Justin Tomlinson

All health professionals receive comprehensive training in disability analysis which includes a functional evaluation as to how medical conditions and the long-term medical treatment of those conditions affect an individual’s ability to perform day-to-day activities. Prior to carrying out an assessment they routinely refresh their knowledge of any condition with which they are not fully familiar.