Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking through the tax system to support the hospitality sector.
Answered by James Murray - Chief Secretary to the Treasury
The hospitality sector plays a vital role in the UK economy, providing jobs and supporting local high streets and communities.
That is why the government announced a range of measures at Autumn Budget to support businesses, including those in the hospitality sector. These include:
We keep all taxes under review and continue to explore ways to support the UK’s vital hospitality sector.
Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the effectiveness of regulation of motor insurers in the context of increases in premiums.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
Insurers make commercial decisions about pricing and the terms of cover they offer based on their assessment on the likelihood of a claim being made and the cost of those claims. Motor insurance premiums have been affected by specific economic factors that increased the costs of claims, such as the rising cost of replacement car parts
However, the Government is determined that insurers treat customers fairly and firms are required to do so under Financial Conduct Authority (FCA) rules. The FCA requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive).
On 16 October, the FCA announced a package of work in the insurance market amid concerns about rising prices. This includes a market study on premium finance – a form of credit that allows insurance customers to spread the upfront annual cost of their premium. On the same day, the Government launched a cross-Government taskforce on motor insurance. This Taskforce has a strategic remit to set the direction for UK Government policy, identifying short- and long-term actions for departments that may contribute to stabilising or reducing premiums, while maintaining appropriate levels of cover.
Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the recent increase in motor insurance premiums.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
Insurers make commercial decisions about pricing and the terms of cover they offer based on their assessment on the likelihood of a claim being made and the cost of those claims. Motor insurance premiums have been affected by specific economic factors that increased the costs of claims, such as the rising cost of replacement car parts
However, the Government is determined that insurers treat customers fairly and firms are required to do so under Financial Conduct Authority (FCA) rules. The FCA requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive).
On 16 October, the FCA announced a package of work in the insurance market amid concerns about rising prices. This includes a market study on premium finance – a form of credit that allows insurance customers to spread the upfront annual cost of their premium. On the same day, the Government launched a cross-Government taskforce on motor insurance. This Taskforce has a strategic remit to set the direction for UK Government policy, identifying short- and long-term actions for departments that may contribute to stabilising or reducing premiums, while maintaining appropriate levels of cover.
Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps she is taking to increase growth in rural areas.
Answered by Darren Jones - Minister for Intergovernmental Relations
A prosperous rural economy will be underpinned by improvements to rural connectivity and productivity, the availability of affordable energy and access to services. To this end, the UK Government is investing £5 billion in broadband connectivity which will support growth in rural areas across the UK.
We are also providing more than £3 billion of UK-wide funding this year to farmers and land managers, supporting rural prosperity.
Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with banks on the potential impact of the removal of mobile bank services on people in (a) Bonar Bridge, (b) Lairg, (c) Helmsdale and (d) Dornoch.
Answered by Bim Afolami
Decisions to open or close a branch or mobile banking service are commercial decisions for firms and the Government does not intervene. However, it is imperative that banks and building societies recognise the needs of all customers, including those who need to use in-person services.
Guidance from the FCA sets out its expectation of firms when they are deciding to reduce their physical branches, including mobile branches, or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned closures on their customers’ everyday banking and cash access needs, and put in place alternatives, where this is reasonable.
Alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking and via the Post Office or Banking Hubs.
Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, is he will make an assessment of the potential merits of extending Theatre Tax Relief after 2025.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
The Government recognises the value of the UK’s world leading creative industries and arts sectors.
At Spring Budget 2023, the Government went further to support theatres through the creative industry tax reliefs.
To continue to offset ongoing pressures and boost investment in our cultural sectors, the Government announced a 2-year extension to the current 45 per cent (for non-touring productions) and 50 per cent (for touring productions) rates of theatre tax relief.
These rates will now taper to 30 per cent/35 per cent on 1April 2025 and return to 20 per cent/25 per cent on 1 April 2026.
The Government keeps the tax system under continuous review. Any changes to tax reliefs will be communicated through the normal fiscal event process.
Asked by: Jamie Stone (Liberal Democrat - Caithness, Sutherland and Easter Ross)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of extending Theatre Tax Relief on the Government's levelling up policies.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
The Government recognises the value of the UK’s world-leading creative industries. That is why at Spring Budget 2023, the Government went further to support theatres through the creative industry tax reliefs.
To continue to offset ongoing pressures and boost investment in our cultural sectors, the Government has announced a 2-year extension to the current 45 per cent (for non-touring productions) and 50 per cent (for touring productions) rates of theatre tax relief (TTR). These rates will now taper to 30 per cent/35 per cent on 1 April 2025 and return to 20 per cent/25 per cent on 1 April 2026. Theatre tax relief is available to qualifying productions in all regions and nations in the UK.
The Government published a tax information and impact note at Spring Budget 2023, which sets out details of the policy impacts of the extension of the 45 per cent/50 per cent rates of TTR.