Written Question
Tuesday 2nd February 2016
Asked by:
David Mowat (Conservative - Warrington South)
Question
to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment Treasury and Revenue and Customs officials have made of the effect on multi-sports clubs of the changes to Community Amateur Sport Club status to impose a cap on non-member income; and if he will make a statement.
Answered by Damian Hinds
The £100,000 cap for community amateur sports clubs (CASCs) scheme’s non-member trading and property income was assessed to be as generous as the scheme could allow without incurring State aid issues. CASCs benefit from generous tax and business rate reliefs. They should not be competing unfairly, in commercial terms, with private sports clubs or the hospitality sector who do not receive these reliefs. CASCs with high levels of non-member trading income may wish to consider setting up trading subsidiaries which are owned by the CASC, or reduce their income received from non-members and property to ensure they meet the income condition.
Speech in Commons Chamber - Mon 25 Jan 2016
HMRC and Google (Settlement)
"When it is in the public domain that one technique used by Google, Facebook and others is the so-called double Irish arrangement, by which profits in the first instance leave the UK and go to Ireland, is there not more that we can do with our European partners to use …..."David Mowat - View Speech
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Speech in Commons Chamber - Tue 24 Nov 2015
HMRC Office Closures
"Does the Minister agree that the current level of customer service in HMRC is unacceptable? The speech of the hon. Member for Livingston (Hannah Bardell) would have made sense were it not for the fact that, currently, about 40% of calls are never answered. It is not even that they …..."David Mowat - View Speech
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Speech in Commons Chamber - Tue 24 Nov 2015
HMRC Office Closures
"I am listening carefully to the hon. Gentleman’s argument. Perhaps he could tell us, on behalf of the Opposition, how many tax offices he thinks we should have. Do we go back to 310, or whatever the number was, or is 170 about right, or should it be even lower? …..."David Mowat - View Speech
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Written Question
Tuesday 10th November 2015
Asked by:
David Mowat (Conservative - Warrington South)
Question
to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what plans he has to increase the number of simple, low risk investment products that are available to charitable organisations; and if he will make a statement.
Answered by Harriett Baldwin
- Shadow Minister (Business and Trade)
Charities can invest their funds in a wide range of investment products. Charity trustees should refer to the Charity Commission's guidance on investments, and should generally seek professional advice before investing.
There are some specific investment products available only to charities. Common Investment Funds and Common Deposit Funds are collective investment and deposit vehicles open to charities.
In addition, the government announced at Budget 2015 the introduction of a new Charity Authorised Investment Fund structure. This will bring new investment funds established for charitable purposes under FCA regulation, ensuring they receive the same regulatory oversight and protections as funds for retail investors.
The FCA is currently consulting on measures to implement the new fund structure. The proposals being consulted on include the registration of the fund as a charity, the role of advisory committees, and provisions on income distribution and capital allocation. The consultation will close on 7 December 2015.
Speech in Commons Chamber - Tue 27 Oct 2015
Oral Answers to Questions
"11. What progress his Department has made on implementing ring-fencing proposals to enhance the stability of major banks...."David Mowat - View Speech
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Speech in Commons Chamber - Tue 27 Oct 2015
Oral Answers to Questions
"I thank the Minister for that answer. In 2012, the then Governor of the Bank of England said that unless these regulations were tightly specified there was a risk of their being watered down before implementation in 2019. We now see Barclays joining RBS and Lloyds in requesting significant waivers. …..."David Mowat - View Speech
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Speech in Commons Chamber - Mon 29 Jun 2015
Greece
"One aspect of all this is the amount of money that the IMF might be about to lose. That money was subscribed by some of the poorest countries in the world, including countries poorer than Greece. Does the Chancellor agree that it would be quite wrong for places such as …..."David Mowat - View Speech
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Speech in Commons Chamber - Wed 17 Jun 2015
Productivity
"When my hon. Friend the Member for Thirsk and Malton (Kevin Hollinrake) intervened and mentioned the oil industry, which has become significantly less material to the national accounts and is massively productive in value-added for numbers of people, the shadow Chancellor did not answer the question properly. One of the …..."David Mowat - View Speech
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Speech in Commons Chamber - Thu 11 Jun 2015
Royal Bank of Scotland
"As far as I can make out, the position of the Opposition is that if we delay this sale, the shares might go up by 35%, and they might break even, which would be a good thing. Of course, though, they might go down. Does the Minister agree that they …..."David Mowat - View Speech
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