Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to Question 115946 on Students: Loans, whether her Department holds the data requested on the number and proportion of people with Plan 2 student loans who had an effective marginal deduction rate of at least (a) 51 per cent and (b) 71 per cent in the 2024–25 tax year as a result of the combined effects of Income Tax, employee National Insurance contributions and Plan 2 student loan repayments.
Answered by James Murray - Chief Secretary to the Treasury
Producing an answer to this question would be a significant analytical task at disproportionate cost.
We will continue to keep the terms of the system under review to ensure the system protects taxpayers and students now and in the future.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many and what proportion of people with Plan 2 student loans had an effective marginal deduction rate of at least (a) 51 per cent and (b) 71 per cent as a result of the combined effects of Income Tax, employee National Insurance contributions and Plan 2 student loan repayments in the 2024-25 tax year.
Answered by James Murray - Chief Secretary to the Treasury
The Plan 2 Student Loan Scheme was introduced in 2012 under the Conservative and Liberal Democrat Coalition Government.
The student finance system is heavily subsidised by government, and lower-earning graduates will always be protected, with any outstanding loan and interest cancelled at the end of the repayment term. It is right that those who are able to repay loans do so.
We will continue to keep the terms of the system under review to ensure the system protects taxpayers and students now and in the future.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of spirits duty increases on levels of pub closures in the last three years.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the effectiveness of spirits duty policy in supporting the economic sustainability of pubs.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of spirits duty on the commercial relationship between UK distilleries and pubs.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of spirits duty increases on the viability of pubs in rural communities.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of linking spirits duty to inflation on the viability of pubs.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps she is taking to encourage (a) innovation and (b) entrepreneurship among SMEs.
Answered by James Murray - Chief Secretary to the Treasury
Small businesses and entrepreneurs are vital to high streets and communities, and essential to the success of the Government’s growth mission.
At the Budget, the Government announced we would be continuing funding for key business support programmes in 2025-26: Growth Hubs in England, and the Help to Grow: Management programme. We also announced we are extending Made Smarter Innovation with up to £37m funding. Funding for the Made Smarter Adoption programme will double to £16 million in 2025-26, supporting more small manufacturing businesses to adopt advanced digital technologies and enabling the programme to be expanded to all nine English regions.
Prior to the Budget, the Government also extended the Enterprise Investment Scheme and Venture Capital Trust schemes to 2035. The schemes are designed to encourage investment into new or young companies through tax-relief incentives, encouraging innovation, creating jobs and stimulating economic growth.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to paragraph 2.40 of the Autumn Budget 2024, published on 30 October, whether she has made an assessment of the long-term impact of national insurance increases on the ability of SMEs to invest in (a) growth, (b) innovation and (c) job creation.
Answered by James Murray - Chief Secretary to the Treasury
The Government has protected the smallest businesses from the impact of the increase to employers’ National Insurance 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. More than half of employers will see no change or will gain overall from this package and eligible employers will be able to employ up to four full-time workers on the National Living Wage and pay no employer NICs.
A Tax Information and Impact Note regarding these changes was published by HMRC on 13 November.
Asked by: David Reed (Conservative - Exmouth and Exeter East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of changes to Agricultural Property Relief on tenants' access to (a) land and (b) secure tenancy agreements.
Answered by James Murray - Chief Secretary to the Treasury
The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief. Around 500 estates across the UK are expected to be affected each year from 2026-27.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.