Asked by: Chris Elmore (Labour - Ogmore)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will make it his policy to increase duty paid on white cider products.
Answered by Jane Ellison
The Government keeps all taxes under review, including alcohol duties, and is always willing to consider any evidence in relation to alcohol taxation policy.
Asked by: Chris Elmore (Labour - Ogmore)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many times he has visited South Wales in an official capacity since his appointment; and what future plans he has to visit South Wales.
Answered by Simon Kirby
The Chancellor will visit constituencies all across the UK in due course. All his visits are recorded in the transparency data published on gov.uk.
Asked by: Chris Elmore (Labour - Ogmore)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will make an assessment of the effect of recent increases in Financial Services Compensation Scheme levies on small businesses.
Answered by Simon Kirby
The Financial Services Compensation Scheme (FSCS) is an independent non-governmental body. The Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) determine the maximum level at which the FSCS levy is set, and how it should be apportioned across industry. The FSCS sets annual levies within these limits.
In March 2016 the Government and FCA published the Financial Advice Market Review which observed that the unpredictable nature of the FSCS levy can make it hard for independent financial advisors to plan effectively. It recommended a number of options regarding FSCS funding, which could make the levy more manageable for independent financial advisors. The FCA is currently reviewing FSCS funding and will publish a consultation later this year.