Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of trends in the level of (a) private and (b) public investment in the economy in each year since 2000; and how that investment compares with other G8 countries.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Private investment (business investment) in the UK has increased by 16.5% since Q1 2000. General government investment in the UK has increased by 140.3% since Q1 2000. Out of the G8, the UK experienced one of the largest declines in gross fixed capital formation (whole economy investment) following the financial crisis. However, the UK’s growth since the recession was among the fastest out of the G8. The Government has taken steps to increase the levels of both private and public investment by creating a stable and competitive tax system and initiatives like the National Productivity Investment Fund, which was increased to over £31bn at Autumn Budget 2017.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps his Department is taking to make consumers aware of the forthcoming changes being implemented through the Open Banking standard and the Second Payment Services Directive.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Open Banking Implementation Entity (OBIE) is ensuring that consumers are aware of the Open Banking project, delivering communications through both its website and planned media engagements. We would expect the OBIE to work together with other interested parties, including the Financial Conduct Authority, third party providers, the banks and the Treasury as they develop their plans.
The Second Payment Services Directive also introduces an automatic ban on debit and credit card surcharging. The Department for Business, Energy and Industrial Strategy has published consumer guidance on the implementation of the surcharging ban.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, which regulator will be responsible for monitoring the performance of the standardised Open Banking Application Programme Interfaces; and how that regulator plans to undertake that monitoring.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The standardised Open Banking Application Programme Interfaces (APIs) are being introduced as a result of the Competition and Market Authority’s (CMA) Retail Banking Market Investigation Order 2017.
The CMA is responsible for monitoring and enforcing compliance with this Order, including the performance of the APIs. The Open Banking Implementation Entity will assist the CMA in delivering this function.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if it remains his policy to implement the Second Payment Services Directive after the UK has left the EU.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
The Second Payments Services Directive will play a transformative role in financial services by empowering consumers to take control of their data, creating a level playing field between payment providers, increasing the choice, efficiency, transparency and security of retail payments; and facilitating the provision of innovative card, internet and mobile payment services across all retail payments for consumers.
Legislation transposing PSD2 has already been laid in Parliament, and comes into effect on the 13 January 2018, before we leave the EU.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many complaints HM Revenue and Customs has received regarding the registration of nurseries in the last six months.
Answered by Elizabeth Truss
This response relates to the experience of nurseries and other regulated childcare providers who have sought to sign up to receive Tax-Free Childcare payments. As of 9 October, over 50,000 childcare providers (49% of all regulated providers) had successfully signed-up for Tax-Free Childcare.
Childcare providers sign-up with the childcare service to receive Tax-Free Childcare payments. The majority of childcare providers have been able to sign-up with no issues, and since launch, 84% of childcare providers have reported that they were “very satisfied” or “satisfied” with the childcare provider sign up process.
A small number of parents and providers have experienced technical difficulties using this service. There are currently 160 providers with an issue, 0.3% of the total that have signed up to date. We are working to fix these as soon as possible and in many cases can do so in a matter of days.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many nurseries have not been properly registered by HM Revenue and Customs due to administrative error.
Answered by Elizabeth Truss
This response relates to the experience of nurseries and other regulated childcare providers who have sought to sign up to receive Tax-Free Childcare payments. As of 9 October, over 50,000 childcare providers (49% of all regulated providers) had successfully signed-up for Tax-Free Childcare.
Childcare providers sign-up with the childcare service to receive Tax-Free Childcare payments. The majority of childcare providers have been able to sign-up with no issues, and since launch, 84% of childcare providers have reported that they were “very satisfied” or “satisfied” with the childcare provider sign up process.
A small number of parents and providers have experienced technical difficulties using this service. There are currently 160 providers with an issue, 0.3% of the total that have signed up to date. We are working to fix these as soon as possible and in many cases can do so in a matter of days.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many families have been affected by administrative errors in registering nurseries in the last six months.
Answered by Elizabeth Truss
This response relates to the experience of nurseries and other regulated childcare providers who have sought to sign up to receive Tax-Free Childcare payments. As of 9 October, over 50,000 childcare providers (49% of all regulated providers) had successfully signed-up for Tax-Free Childcare.
Childcare providers sign-up with the childcare service to receive Tax-Free Childcare payments. The majority of childcare providers have been able to sign-up with no issues, and since launch, 84% of childcare providers have reported that they were “very satisfied” or “satisfied” with the childcare provider sign up process.
A small number of parents and providers have experienced technical difficulties using this service. There are currently 160 providers with an issue, 0.3% of the total that have signed up to date. We are working to fix these as soon as possible and in many cases can do so in a matter of days.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, with reference to paragraph 3.14 of the Autumn Statement 2016, when he plans that the recommendations of the National Infrastructure Commission on investment in the Cambridge-Milton Keynes-Oxford corridor will be implemented.
Answered by David Gauke
The government welcomes the National Infrastructure Commission’s report on the Oxford – Milton Keynes – Cambridge corridor.
At Autumn Statement, we committed to £27 million of development funding for the Oxford to Cambridge Expressway, £100 million of accelerated investment in the western section of East West Rail, and £10 million of development funding for the central section of East West Rail.
The government also welcomes the NIC’s work to look at a range of delivery models for housing and transport in the corridor, including development corporations, and will carefully consider its recommendations.
Further announcements will be made in due course.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, with reference to his Department's press release of 13 August 2016, Chancellor Philip Hammond guarantees EU funding beyond date UK leaves the EU, how the future allocation of European Regional Development Fund funding will be assessed.
Answered by David Gauke
The European Regional Development Fund is one of a number of European Structural and Investment Funds (ESIFs). The relevant information on ESIFs can be found in my letter of 12 August to the Secretary of State for Exiting the European Union. This letter is attached and can be found on the Gov.uk website, alongside the Treasury press notice.
Asked by: Daniel Zeichner (Labour - Cambridge)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, with reference to paragraph 3.14 of the National Audit Office's investigation into the collapse of the UnitingCare Partnership contract, for what reasons HMRC did not approve UnitingCare's request to remove VAT liability.
Answered by Jane Ellison
I am unable to comment on the tax affairs of individual companies.
HM Revenue and Customs applies the VAT rules for private companies consistently and fairly to ensure a level playing field. As reported in the National Audit Office's report, the UnitingCare Partnership is a limited liability partnership.