Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of how many people in (a) Newport East constituency and (b) Wales will benefit from the end of the lifetime limit on tax-free pensions.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
Information on the abolition of the lifetime allowance can be found in the Pension Tax Limits Policy paper Pension Tax Limits - GOV.UK (www.gov.uk)
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many people of pension age in (a) Newport East constituency and (b) Wales will pay more in tax as a result of the Government's decision to implement a six-year freeze on personal allowances.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
The Government does not publish this information.
The Government is committed to ensuring that older people are able to live with the dignity and respect they deserve.
The Personal Allowance is currently set at a level high enough to ensure that those pensioners whose sole income is the new State Pension or basic State Pension do not pay any income tax.
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many promoters and operators of schemes now subject to the Loan Charge have been prosecuted for promoting and operating those schemes.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
The Honorable Member is referred to the answer that was given on 14 November 2022 to the Question UIN 86483.
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will order an independent review of the loan charge.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
The Loan Charge was independently reviewed by Lord Morse in 2019, who considered the impacts of the policy on individuals. The Government recognised the impact of the Loan Charge and accepted 19 of the 20 recommendations made by Lord Morse. These changes, such as removing loans made before 9 December 2010 from the scope of the Loan Charge, reduced the impact of the policy and removed aspects which were of wider concern.
However, taxpayers can still face large tax bills which may have significant impact. That is why HMRC puts support for those affected at the core of its work to collect the Loan Charge and bring cases to settlement.
As well as the options available for managing tax bills, individuals affected by the Loan Charge are also supported by HMRC’s Extra Support teams. These are teams of trained advisors who, where appropriate, signpost taxpayers to Voluntary and Community organisations. HMRC and Samaritans are currently working together to deliver an 18-month project to further strengthen the support offered to taxpayers.
There are no plans for a further independent review.
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the impact of the loan charge on the mental health of affected workers and contractors; and whether the Government plans to change its policy on the loan charge.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
The Loan Charge was independently reviewed by Lord Morse in 2019, who considered the impacts of the policy on individuals. The Government recognised the impact of the Loan Charge and accepted 19 of the 20 recommendations made by Lord Morse. These changes, such as removing loans made before 9 December 2010 from the scope of the Loan Charge, reduced the impact of the policy and removed aspects which were of wider concern.
However, taxpayers can still face large tax bills which may have a significant impact. That is why HMRC puts support for those affected at the core of its work to collect the Loan Charge and bring cases to settlement.
As well as the options available for managing tax bills, individuals affected by the Loan Charge are also supported by HMRC’s Extra Support teams. These are teams of specialist trained advisors who, where appropriate, signpost taxpayers to specialist Voluntary and Community organisations. To further strengthen the support offered to taxpayers, HMRC and Samaritans are currently working together to deliver an 18-month project.
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of introducing a limit on the number of times creditors can contact people in debt.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government and the Financial Conduct Authority (FCA) expect financial services firms to take whatever steps they can to support and provide appropriate level of care to their customers. This includes offering tailored support to customers struggling to pay their mortgage or other loans.
In June 2022, the FCA published ‘Dear CEO’ letters to firms and reiterated the FCA’s expectations on firms dealing with borrowers in financial difficulty. This includes expectations on firms to provide appropriate level of care and support to their customers; to give borrowers in financial difficulty appropriate tailored forbearance that is in their interests taking account of their individual circumstances; and to support borrowers showing signs of financial difficulty or struggling with debt, by making them aware of and helping them access money guidance or free debt advice.
More recently, the FCA published findings from their comprehensive review of firms’ treatment of borrowers in financial difficulty following the pandemic and is taking action to ensure high standards.
To help people in problem debt, the Government launched the Breathing Space scheme in England and Wales in 2021. The scheme gives eligible people in problem debt who receive professional debt advice access to a 60-day period in which enforcement action is paused and most fees, charges and interest are frozen.
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what proportion of (a) ordinary and (b) named-day written questions their Department answered on time in 2022.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
The Treasury’s own data shows that in 2022 Treasury ministers answered 99% of ordinary written questions on time and 99% of named day written questions on time.
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what his policy is on introducing tax relief for hydrogenated vegetable oil for industries that lost access to red diesel in April 2022.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
Hydrotreated vegetable oil (HVO) is eligible for Renewable Transport Fuel Certificates under the Renewable Transport Fuel Obligation (RTFO), and is eligible to receive twice the reward in certificates under this scheme where it is produced from waste.
The Government uses the RTFO to incentivise the use of low carbon fuels and reduce emissions from fuel supplied for use in transport and non-road mobile machinery. The RTFO has been highly successful in supporting a market for renewable fuel since its introduction in 2008. Renewable fuels supplied under the RTFO currently contribute a third of the savings required for the UK’s transport carbon budget.
As with all taxes, the Government will keep the tax treatment of HVO under review.
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 14 November 2022 to Question 80673 on Taxation: Carbon Emissions, whether the consultation on a potential carbon border adjustment mechanism will be carried out alongside a review of the carbon price support mechanism.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
The Government is exploring a range of policies that could potentially mitigate future risk of carbon leakage. The government committed to consult on this, as the FST set out on 16th May 2022 in a written ministerial statement, and will now do that in the spring.
As the Chancellor announced in the Autumn Statement, the government will also engage with industry and conduct a review of the Carbon Price Support beyond 2024-25.
Asked by: Jessica Morden (Labour - Newport East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to take steps to participate in the implementation of no interest loan schemes.
Answered by Richard Fuller
The Government has provided £3.8 million to Fair4All Finance to pilot a No-Interest Loans Scheme. The scheme will enable consumers in vulnerable circumstances to access affordable rather than high-cost credit to meet unexpected costs.
Good progress is being made and, starting in January 2022, dozens of loans have now been issued at the proof-of-concept site in South Manchester. Loans issued to date are already providing tangible real-life impacts for recipients. For example, credit has been provided to cover costs of new white goods to keep a family running, to pay for funerals for loved ones, and to support consolidation personal debts so that they are more manageable.
Fair4All Finance are now finalising contracts with the lenders chosen to take part in the wider pilot and we expect that loans will start being issued more widely by September.