Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to revise the upper purchase price on help to buy ISAs in line with the housing market.
Answered by Tulip Siddiq
This Government is committed to helping first time buyers own their own home, and will do this by building 1.5 million more homes.
The Government keeps savings policy under review, any changes of this kind would be made at a relevant fiscal event.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what progress she is making on returning the level of the aid budget to 0.7% of gross national income.
Answered by Darren Jones - Chief Secretary to the Treasury
The Government remains committed to restoring Official Development Assistance (ODA) spending to 0.7% of GNI as soon as fiscal circumstances allow, but this isn’t currently affordable. The OBR’s latest forecast shows that the ODA fiscal tests are not due to be met within the Parliament. The Government will continue to monitor future forecasts closely, and each year will review and confirm, in accordance with the International Development (Official Development Assistance Target) Act 2015, whether a return to spending 0.7% GNI on ODA is possible against the latest fiscal forecast.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many and what proportion of eligible households in Belfast South and Mid Down constituency are availing of the Tax Free Childcare scheme.
Answered by James Murray - Exchequer Secretary (HM Treasury)
Data on Tax-Free Childcare users for 2024 parliamentary constituencies will not be published until May 2025. However, the number of families who used Tax-Free Childcare in 2023/24 in the three former constituencies that predominantly make up Belfast South and Mid Down was as follows:
Belfast South - 1435
Lagan Valley - 1580
Strangford - 930
This data was published in table 11 of the Tax-Free Childcare Official Statistics in August 2024: https://www.gov.uk/government/statistics/tax-free-childcare-statistics-june-2024
The number of families eligible for Tax-Free Childcare is not available by parliamentary constituency and so it is not possible to calculate the proportion that are using the scheme.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what Barnett Consequential have been calculated for the Northern Ireland Executive following the recent announcement of additional rates support for (a) retail, (b) hospitality and (c) leisure in the Autumn Budget 2024.
Answered by Darren Jones - Chief Secretary to the Treasury
As a result of decisions taken at the Autumn Budget, the Northern Ireland Executive (NIE) is receiving £18.2 billion in 2025-26, including an additional £1.5 billion Barnett consequentials.
The NIE’s settlement for 2025-26 delivers a real-terms increase and is the largest in real terms of any settlement since devolution. The NIE is funded above its independently assessed relative level of need of 124% in both 2024-25 and 2025-26, including the 2024 restoration financial package.
The Block Grant Transparency publication, which sets out changes to devolved government funding in detail, will shortly be updated with changes made at Autumn Budget 2024. The most recent document was published in July 2023:
https://www.gov.uk/government/publications/block-grant-transparency-july-2023
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will release funding to enable payment for the Pay Review Body recommendation for a 5.5% pay uplift for health workers in Northern Ireland.
Answered by Darren Jones - Chief Secretary to the Treasury
The Northern Ireland Executive (NIE) is being funded above its independently assessed relative need level of 124% in 2024-25 and 2025-26, including the 2024 restoration financial package. As a result of decisions taken at the Autumn Budget and Phase 1 of the Spending Review, the Northern Ireland Executive is receiving £18.2 billion in 2025-26. This represents the largest real-terms settlement since devolution.
The NIE is responsible for deciding how to allocate their funding across their devolved responsibilities, including the provision of pay awards for health workers.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made a comparative assessment of (a) boarding departments in state schools in England and (b) grant aided schools in Northern Ireland, in the context of the introduction of VAT on independent schools.
Answered by James Murray - Exchequer Secretary (HM Treasury)
On 29 July, the Government announced that, as of 1 January 2025, all education services and vocational training provided by a private school in the UK for a charge will be subject to VAT at the standard rate of 20 per cent. This will also apply to boarding services provided by private schools.
Boarding at state schools is provided to parents at cost and is closely related to the supply of state education. The government therefore believes it is right that state boarding should continue to be exempt.
To ensure consistency in the VAT treatment of schools across the UK, as set out in the draft legislation published in July, where a school charges for the full-time education of children of compulsory school age and/or full-time education suitable for the requirements of 16-19 year olds, it will be within scope of this policy. All education, vocational training and boarding services provided by schools within scope of this policy will be subject to 20% VAT from January 2025. This is in line with the principles set out in the technical note published in July. The draft legislation and technical note can be found online here:
HM Treasury have been engaging closely with the Northern Ireland Executive to understand how different schools in Northern Ireland will be impacted by this policy.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many applications for funding from the UK Infrastructure Bank for schemes in Northern Ireland were (a) awarded and (b) rejected.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The National Wealth Fund (NWF), formerly the UK Infrastructure Bank, has committed funding to three transactions that have benefited Northern Ireland (NI) with a total of £71m invested to date. Two of these deals are debt investments in the digital sector, supporting Fibrus and Netomnia, and the other is a guarantee deal for retrofitting social housing with Barclays.
Due to commercial confidentiality, the NWF does not disclose details of deals that were not completed. However, it has a robust process in place to assess the suitability of deal enquires in line with its strategy.
Further details on how NWF assess deals and additionality can be found in their Strategic Plan, and details on deals signed can be found in their Factsheets.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will take steps to include support for home owners struggling with mortgage commitments in the Budget.
Answered by Tulip Siddiq
This Government recognises that many households have been faced with higher mortgage rates in recent years. That is why we are committed to delivering economic stability to grow the economy and keep taxes, inflation and mortgage rates as low as possible.
The pricing of mortgages is a commercial decision for lenders in which the Government does not intervene. However, there are significant measures in place to protect vulnerable mortgage borrowers. Financial Conduct Authority (FCA) rules require lenders to engage individually with their customers who are struggling or who are worried about their payments, and the Mortgage Charter also remains in place providing additional flexibilities to help customers manage their mortgage payments over a short period.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions she has had with regulators on ensuring that the insurance industry treats consumers equally in all regions.
Answered by Tulip Siddiq
Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors on an ongoing basis.
The Government is determined that insurers should treat all customers fairly and insurance companies are required to do so under the Financial Conduct Authority’s (FCA) rules.
The FCA is an independent body responsible for regulating and supervising the financial services industry across the United Kingdom and has robust powers to act against firms that fail to comply with its rules.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to review Insurance Premium Tax for car insurance.
Answered by Tulip Siddiq
IPT is a tax on general insurance premiums currently charged at two rates: a standard rate at 12%, including car insurance, and a higher rate at 20%.
The Chancellor makes decisions on tax policy at fiscal events.