Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment has she made of the potential merits of increasing the level of taxation on social media firms.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The UK is already levying the Digital Services Tax (DST), a 2 per cent tax to ensure that providers of search engines, social media platforms, and online marketplaces pay UK tax on digital services that reflects the value they derive from UK users.
The DST is an interim solution to widely held concerns with international corporate tax, and the UK remains committed to remove it once a global solution on the taxation of the digital economy through Pillar 1 of the G20-OECD Inclusive Framework project is in place.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps her Department is taking to support pensioners with the cost of living in South Holland and the Deepings constituency.
Answered by James Murray - Exchequer Secretary (HM Treasury)
This Government remains committed to supporting pensioners and giving them the dignity and security they deserve in retirement.
On 9 June the Government announced that, from this winter 2025-26, Winter Fuel Payment eligibility will be expanded in England and Wales. Pensioners with incomes below or equal to £35,000 will benefit from a Winter Fuel Payment. This will mean that the vast majority of pensioners over three quarters, or 9 million—will benefit from a Winter Fuel Payment. This change ensures that the means-testing of winter fuel payments has no effect on pensioner poverty.
Through our commitment to protect the Triple Lock around 26,000 pensioners in South Holland and the Deepings constituency benefitted from a 4.1% increase to their basic or new State Pension in April 2025. Over the course of this Parliament, the full yearly rate of the new State Pension is expected to increase by around £1,900 based on the Office for Budget Responsibility’s latest forecast.
Support available beyond the State Pension includes: free eye tests; NHS prescriptions; and free bus passes. Some pensioners may also qualify for means tested benefits including Pension Credit and Housing Benefit.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that partially sighted people in rural areas have access to face to face banking services.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Banking has changed significantly in recent years with many customers benefitting from the ease and convenience of digital banking. The Government understands the importance of face-to-face banking to communities and high streets across the UK, and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this Parliament. Over 220 hubs have been announced so far, and over 160 are already open.
Where a branch closure is announced or a community has submitted a cash access assessment request, LINK, the independent industry coordinating body responsible for making access to cash assessments, assesses a community’s access to cash needs, and will recommend appropriate solutions where it considers that a community requires additional cash services, such as a banking hub or deposit service.
The Financial Conduct Authority (FCA) rules require designated firms to consider a range of factors in their assessments which will account for challenges in cash access faced in rural areas. For example, firms are required to consider the actual travel times and costs to reach cash access facilities and identify gaps in provision where these are unreasonable, which may be particularly the case in rural areas.
Whilst the Government meets with LINK to discuss a variety of matters, any decisions on changes to LINK’s independent assessment criteria are a matter for LINK and the financial services sector.
The Government works closely with the FCA, the independent regulator of the UK’s financial services sector, to ensure that all customers get the right support with their financial products and services.
The FCA requires firms to provide a prompt, efficient, and fair service to all of their customers. This includes special considerations for vulnerable customers, including the elderly and disabled customers.
Furthermore, under the Equality Act 2010, banks must make reasonable adjustments to ensure their services are accessible to all.
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. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will meet with private sector cash machine operator Link to discuss additional face to face banking services for rural areas.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Banking has changed significantly in recent years with many customers benefitting from the ease and convenience of digital banking. The Government understands the importance of face-to-face banking to communities and high streets across the UK, and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this Parliament. Over 220 hubs have been announced so far, and over 160 are already open.
Where a branch closure is announced or a community has submitted a cash access assessment request, LINK, the independent industry coordinating body responsible for making access to cash assessments, assesses a community’s access to cash needs, and will recommend appropriate solutions where it considers that a community requires additional cash services, such as a banking hub or deposit service.
The Financial Conduct Authority (FCA) rules require designated firms to consider a range of factors in their assessments which will account for challenges in cash access faced in rural areas. For example, firms are required to consider the actual travel times and costs to reach cash access facilities and identify gaps in provision where these are unreasonable, which may be particularly the case in rural areas.
Whilst the Government meets with LINK to discuss a variety of matters, any decisions on changes to LINK’s independent assessment criteria are a matter for LINK and the financial services sector.
The Government works closely with the FCA, the independent regulator of the UK’s financial services sector, to ensure that all customers get the right support with their financial products and services.
The FCA requires firms to provide a prompt, efficient, and fair service to all of their customers. This includes special considerations for vulnerable customers, including the elderly and disabled customers.
Furthermore, under the Equality Act 2010, banks must make reasonable adjustments to ensure their services are accessible to all.
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. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how the Infrastructure Strategy will support infrastructure enhancements in Lincolnshire.
Answered by Darren Jones - Chief Secretary to the Treasury
The 10 Year Infrastructure Strategy will reduce uncertainty by bringing together a long-term plan for the social, economic and housing infrastructure across the UK
Alongside considering the UK’s economic and social infrastructure needs, the strategy will set out how we are reforming institutions and changing the way we make decisions and deliver infrastructure, maximising the benefits of our strong fiscal and spending frameworks, breaking down regulatory and planning barriers, and resetting our relationship with the private sector.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will take steps to delay the implementation of changes to Inheritance Tax for farmers by 12 months.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.
These reforms were announced in October 2024 and will take effect in April 2026.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to increase the number of apprenticeship starts in her Department.
Answered by James Murray - Exchequer Secretary (HM Treasury)
As of January 2025, 6.9% of staff in the department are currently on an apprenticeship, which is above our target of 5%. To maintain and build on this, we continue to take the following steps:
Through these measures, the department remains committed to supporting staff development and increasing apprenticeship opportunities.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of establishing an illicit tobacco taskforce.
Answered by James Murray - Exchequer Secretary (HM Treasury)
In the illicit tobacco strategy titled ‘Stubbing out the problem’, the Government committed to establishing a multi-agency illicit tobacco taskforce to co-ordinate enforcement activity, involving staff from HMRC, Border Force and Trading Standards and working closely with other law enforcement and intelligence partners.
This team is now in place and contributing to efforts to tackle illicit tobacco across all relevant departments.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate her Department has made of the cost to the public purse of providing an exemption from National Insurance contributions for Indian nationals through the UK-India trade agreement.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The OBR will certify the impact of the trade deal including the Double Contributions Convention in the usual way at a fiscal event, once the deal is finalised and ratified. The agreement to negotiate a Double Contributions Convention was made in the context of the wider deal, which will bring billions into the economy.
Asked by: John Hayes (Conservative - South Holland and The Deepings)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the potential saving to the Exchequer of moving to a two-tier system for reserve renumeration.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
The Chancellor regularly meets with the Governor of the Bank of England to discuss matters relating to economy and the Bank’s progress towards meeting its price stability targets.
The government continues to support the Bank’s independence to carry out its statutory responsibilities for monetary policy and financial stability, and there are no plans to change the way reserves are remunerated at the Bank of England. The government is providing the stability required for the MPC to bring interest rates down, by managing the public finances responsibly.