Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, What assessment her Department has made of the potential impact of revoking the windfall tax on oil and gas companies on trends in the level of future renewable investment.
Answered by James Murray - Chief Secretary to the Treasury
In its manifesto the Government committed to make changes to the Energy Profits Levy (EPL) to raise revenue towards clean energy goals, including raising the rate of the levy from 35% to 38% and extending the duration of the levy until 31 March 2030. Following confirmation of these changes at Autumn Budget 2024, the EPL is now due to end by 31 March 2030, or earlier if oil and gas prices fall consistently below the price thresholds set by the Energy Security Investment Mechanism. The OBR’s latest forecast published at Spring Statement 2025 indicates that the levy will generate £13.5 billion in receipts between 2024-25 and 2029-30, on top of £7.4bn already raised since the levy’s introduction.
Following a period of change and uncertainty, the government is committed to providing long-term certainty to the oil and gas sector over the future fiscal regime and published a consultation on 5 March exploring the design of a new permanent mechanism for responding to price shocks once the EPL ends.
Government is committed to delivering clean power by 2030 and will work in tandem with the private sector to unlock investment and deliver new clean infrastructure. Our Contracts for Difference scheme has driven significant investment in renewable energy generation. The Clean Power 2030 Action Plan sets out proposed reforms to ensure the scheme can support the volumes of capacity needed whilst minimising costs to consumers.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department plans to introduce exemptions or adjustments to National Insurance Contributions for social enterprise nurseries.
Answered by James Murray - Chief Secretary to the Treasury
The Government has taken a number of difficult but necessary decisions on tax, welfare, and spending to fix the public finances, fund public services, and restore economic stability after the situation we inherited from the previous administration.
The Government has protected the smallest businesses from the impact of the increase to employer National Insurance Contributions (NICs) by increasing the Employment Allowance from £5,000 to £10,500, which means that 865,000 employers will pay no employer NICs at all next year.
Early years providers play a crucial role in driving economic growth and that is why we have committed to delivering the expansion of government-funded childcare and opening 3,000 new school-based nurseries in this parliament. At the Budget, the Chancellor announced that total funding will rise to over £8 billion in 2025-26 to support providers. On top of this, the Department for Education confirmed an additional £75 million of funding in 2025-26 to support the sector deliver the final phase of expanded childcare entitlements from September 2025, alongside a further £25 million to support childcare for disadvantaged children through the early years pupil premium.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of incoming stamp duty thresholds on first-time buyers in (a) London and (b) other high cost areas.
Answered by James Murray - Chief Secretary to the Treasury
Stamp Duty Land Tax (SDLT) is an important source of Government revenue, raising around £12 billion each year to help pay for the essential services the Government provides.
In September 2022, the previous Government announced a change to the level at which first time buyers start paying SDLT from £300,000 to £425,000, with the purchase price limit for accessing the relief set at£625,000. These changes were made temporary in November 2022. After the rates reverted on 1st April 2025, first time buyers can still benefit from paying no SDLT up to £300,000 and will be able to claim relief on purchases up to £500,000.
At Autumn Budget 2024, the higher rates of SDLT for additional dwellings were increased by two percentage points from three per cent to five per cent. This will ensure that those looking to purchase their first property or move home have a greater advantage over second home buyers, landlords, and companies purchasing residential property.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of recent trends in the level of rent inflation on economic growth.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
Rental prices are ultimately determined by the total supply of housing, relative to demand. Affordability of housing has fallen drastically, particularly in major cities, as too few homes have been built.
This Government is taking meaningful steps to reform the planning system and make it easier to build. Changes to the National Planning Policy Framework, published in December, will reintroduce mandatory housing targets and bring low quality Green Belt land in scope of development.
Building houses in the right places is vital to long-term economic growth, allowing prosperous places to grow, and providing the homes people want near good jobs.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to introduce mechanisms for regular updates to the Overseas Scale Rates to keep in line with inflation.
Answered by James Murray - Chief Secretary to the Treasury
As with all taxes and allowances, the Government keeps flat rates expenses, including Overseas Scale Rates, under review.
Any decisions on future changes in this area will be taken in the context of the wider public finances.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to conduct a comprehensive review of the Overseas Scale Rates.
Answered by James Murray - Chief Secretary to the Treasury
As with all taxes and allowances, the Government keeps flat rates expenses, including Overseas Scale Rates, under review.
Any decisions on future changes in this area will be taken in the context of the wider public finances.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of extending the Financial Conduct Authority's regulatory perimeter so that it can tackle (a) poor and (b) misleading debt advice delivered by insolvency practitioners and IVA firms.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government recognises the importance of individuals receiving accurate and reliable information when they are considering an Individual Voluntary Arrangement (IVA). When administered well, IVAs provide a debt solution to people who aren’t eligible for a Debt Relief Order, or who want an alternative to bankruptcy. However, if an IVA is unsuitable, it can leave people in debt for longer and result in further financial difficulty. Oversight of Insolvency Practitioners, who administer IVAs, is provided through standards applied by one of three Recognised Professional Bodies and overseen by the Insolvency Service.
The Insolvency Service is taking action to address concerns about the debt solutions market and expects to see swift action from volume IVA firms to eliminate poor practice. To support this, the Insolvency Service are also working with the sector to publish a new simplified IVA Protocol and key facts document to help consumers understand what they are signing up for. New guidance is also being published for Insolvency Practitioners on their control of cases. This is further to the 2023 publication of a new Standard for Insolvency Practitioners (SIP 3.1), making clear their responsibility to ensure consumers have received an explanation of all potential debt relief solutions so that they can make an informed judgement. The Insolvency Service continues to work to address poor practices through its ongoing review of the personal insolvency framework and continued collaboration with other regulators.
Debt advice providers, and debt packager firms which may refer individuals to IVA providers and other debt solutions, are regulated by the Financial Conduct Authority (FCA). In 2023, the FCA banned referral fees for debt packager firms to remove incentives to recommend debt solutions which may not be in the consumer’s best interest.
The ongoing collaboration between the FCA, the Insolvency Service, and other stakeholders reflects a concerted effort to enhance consumer protection in the debt advice and insolvency sectors. The Government will continue to monitor the effectiveness of existing regulatory frameworks.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential merits of ending the exemption from Financial Conduct Authority rules on debt advice for IVA providers.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government recognises the importance of individuals receiving accurate and reliable information when they are considering an Individual Voluntary Arrangement (IVA). When administered well, IVAs provide a debt solution to people who aren’t eligible for a Debt Relief Order, or who want an alternative to bankruptcy. However, if an IVA is unsuitable, it can leave people in debt for longer and result in further financial difficulty. Oversight of Insolvency Practitioners, who administer IVAs, is provided through standards applied by one of three Recognised Professional Bodies and overseen by the Insolvency Service.
The Insolvency Service is taking action to address concerns about the debt solutions market and expects to see swift action from volume IVA firms to eliminate poor practice. To support this, the Insolvency Service are also working with the sector to publish a new simplified IVA Protocol and key facts document to help consumers understand what they are signing up for. New guidance is also being published for Insolvency Practitioners on their control of cases. This is further to the 2023 publication of a new Standard for Insolvency Practitioners (SIP 3.1), making clear their responsibility to ensure consumers have received an explanation of all potential debt relief solutions so that they can make an informed judgement. The Insolvency Service continues to work to address poor practices through its ongoing review of the personal insolvency framework and continued collaboration with other regulators.
Debt advice providers, and debt packager firms which may refer individuals to IVA providers and other debt solutions, are regulated by the Financial Conduct Authority (FCA). In 2023, the FCA banned referral fees for debt packager firms to remove incentives to recommend debt solutions which may not be in the consumer’s best interest.
The ongoing collaboration between the FCA, the Insolvency Service, and other stakeholders reflects a concerted effort to enhance consumer protection in the debt advice and insolvency sectors. The Government will continue to monitor the effectiveness of existing regulatory frameworks.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of the average time taken to investigate alleged fraudulent research and development tax relief claims on small businesses.
Answered by James Murray - Chief Secretary to the Treasury
HMRC is committed to tackling error and fraud whilst also ensuring the R&D tax relief claims process is straightforward for genuine claimants.
At Autumn Budget, HMRC published the Approach to Research and Development tax Reliefs for 2023 to 2024, which shows that the average time to complete a compliance check for 2023-24 is 246 days. The length of a compliance check will depend on a range of factors, including the complexity of the claim. The additional information required upfront to support claims is being used to inform HMRC’s risking of claims and compliance approach.
Asked by: Bell Ribeiro-Addy (Labour - Clapham and Brixton Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to reduce the time taken to investigate alleged fraudulent research and development tax relief claims.
Answered by James Murray - Chief Secretary to the Treasury
HMRC is committed to tackling error and fraud whilst also ensuring the R&D tax relief claims process is straightforward for genuine claimants.
At Autumn Budget, HMRC published the Approach to Research and Development tax Reliefs for 2023 to 2024, which shows that the average time to complete a compliance check for 2023-24 is 246 days. The length of a compliance check will depend on a range of factors, including the complexity of the claim. The additional information required upfront to support claims is being used to inform HMRC’s risking of claims and compliance approach.