Tag: Seema Malhotra

The below Parliamentary question was asked by Seema Malhotra on 2016-02-03.

To ask Mr Chancellor of the Exchequer, what the (a) primary and (b) secondary policy purposes are of research and development tax credits.

Mr David Gauke

R&D tax credits support businesses to invest in Research & Development (R&D). They play a key role in the Government’s objective to have a tax system that supports productive investment. A 2015 evaluation by HM Revenue and Customs found that each £1 of tax foregone by R&D tax credits stimulates between £1.53 and £2.35 of additional R&D investment.

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

To ask the Secretary of State for Education, when the new National Funding Formula for schools will be introduced.

Nick Gibb

In July, the Secretary of State committed to introduce national funding formulae for schools and high needs from the financial year 2018-19. We will set out detailed proposals later in the autumn, and make decisions early next year, for the new system to be in place from April 2018.

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

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of proposed changes to (a) the student loans system and (b) maintenance grants on productivity.

Greg Hands

The government’s system of student support enables students to cover the costs of studying at university. At Summer Budget 2015, we announced that maintenance grants would be replaced by more generous maintenance loans and that we would consult on freezing the repayment threshold for loan repayments. These measures help create a financially secure Higher Education system, allowing the government to remove the student numbers cap and enable more students to go to university than ever before.

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

To ask the Secretary of State for Business, Innovation and Skills, what assessment he has made of the effect of increasing spending on the science capital commitment on UK productivity.

Joseph Johnson

This Government recognises the value of science and innovation as a driver of economic success. We protected the science ring-fence over the last Parliament and are investing £6.9 billion in science capital from this year to 2021. There is clear and robust evidence of a link between R&D investment and national productivity, including in OECD Economic Working Paper 843 (2011): http://www.oecd-ilibrary.org/docserver/download/5kghwnhxwkhj.pdf?expires=1447868224&id=id&accname=guest&checksum=FD50F59A6AFEEC34AE58B844317965CE

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

To ask Mr Chancellor of the Exchequer, what the evidential basis is for the reference in his oral contribution of 25 November 2015, Official Report, column 1358, to the north having grown faster than the south; and if he will make a statement.

Greg Hands

This was based on data available from the Office for National Statistics December 2014 release regarding Regional Gross Value Added.

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.