Asked by: Flick Drummond (Conservative - Meon Valley)
Question to the HM Treasury:
What steps his Department is taking to help the retail, hospitality and leisure sectors recover from the covid-19 pandemic.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
This Government has provided around £400 billion of direct support to the economy during the pandemic, and as part of that it has provided £16 billion of business rates relief to the retail, hospitality and leisure sectors in England.
At Autumn Budget 21, the Government announced a new temporary relief worth almost £1.7 billion for these sectors to support local high streets as they adapt and recover.
At Spring Budget 21, the Government extended the 5% temporary reduced rate of VAT for the tourism and hospitality sectors until the end of September. On 1 October 2021, a new reduced rate of VAT at 12.5% was introduced to help ease businesses back to the standard rate. This rate will end on 31 March 2022. There are no plans to extend the length of this relief again.
Asked by: Flick Drummond (Conservative - Meon Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions he has had with the Royal Yachting Association on the VAT status of UK-owned yachts currently outside British waters.
Answered by Jesse Norman
The Chancellor of the Exchequer has not had any discussions with the Royal Yachting Association (RYA) on this topic. In November 2020, the Financial Secretary to the Treasury responded to a letter from the RYA explaining the Government’s position on the availability of relief from customs duty and import VAT under the Returned Goods Relief for goods and possessions (including yachts) located in the EU on 31 December 2020. HMRC officials met the RYA in September 2020 and February 2021 to discuss this issue.
Asked by: Flick Drummond (Conservative - Meon Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the effect of the decline in the use of cash and cheques as a result of the covid-19 outbreak on financial inclusivity.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Government remains committed to helping people and businesses through the present very difficult time that has been brought about by COVID-19.
Financial services firms have announced a range of measures to support vulnerable customers and we are working with the Financial Conduct Authority to ensure there is continued support for these people. For example, many firms have methods for trusted third-parties to access cash. Anyone with questions should contact their banking service provider.
The Government recognises that widespread access to cash is extremely important to the daily lives of millions of people across the UK. That is why, at the March 2020 Budget, the Chancellor announced that the Government will bring forward legislation to protect access to cash. This will ensure that those who continue to rely on cash can continue to do so in the long-term.