Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with HMRC on a VAT exemption for new build dwellings under the Welsh Government's One Planet development policy.
Answered by Jesse Norman
The Chancellor of the Exchequer and other Treasury ministers engage with the Welsh Government and all of the devolved administrations regularly on a range of subjects, including VAT.
The Government currently maintains a zero rate of VAT on new-build residential properties.
The Government is committed to greening the economy; and investing in new affordable housing is a priority.
The Government is investing £12.2 billion over five years through the Affordable Homes Programmes; this is the largest cash investment in affordable housing for a decade and will provide up to 180,000 new homes across the country.
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has received representations from the Welsh Government in respect of a VAT exemption on new build homes in Wales under the terms of the One Planet Development policy.
Answered by Jesse Norman
The Chancellor of the Exchequer and other Treasury ministers engage with the Welsh Government and all of the devolved administrations regularly on a range of subjects, including VAT.
The Government currently maintains a zero rate of VAT on new-build residential properties.
The Government is committed to greening the economy; and investing in new affordable housing is a priority.
The Government is investing £12.2 billion over five years through the Affordable Homes Programmes; this is the largest cash investment in affordable housing for a decade and will provide up to 180,000 new homes across the country.
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
What recent discussions he has had with his international counterparts on the potential merits of co-ordinated taxation of multinational companies.
Answered by Jesse Norman
The UK has been at the forefront of global efforts to update the international corporation tax framework in response to challenges created by digitisation, and it has played an active role at the OECD in helping to develop a comprehensive two-pillar solution.
The Chancellor has made it a priority of the UK’s G7 presidency to support progress towards a final agreement by mid-2021 and he has regular discussions with his counterparts on these issues.
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether there will be a 100 per cent Barnett consequential in respect of the £175 million provided for freeports in England.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
The Barnett formula will apply in the usual way in relation to funding provided to the Ministry for Housing, Communities and Local Government to introduce Freeports in England.
There are ongoing discussions with the devolved administrations to establish at least one Freeport in each of Scotland, Wales and Northern Ireland as soon as possible.
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much funding has been allocated to establishing free ports in the UK; and how much of that funding will be allocated to (a) Wales, (b) England, (c) Scotland and (d) Northern Ireland.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
We want to ensure that the whole of the UK can benefit from Freeports and we remain in ongoing discussions with the Welsh government to establish a Freeport in Wales as soon as possible.
Successful bidders in England will be able to access a share of £175m. This is capital spending to support the development of Freeport sites and should be matched by a mix of private sector investment, council borrowing and co-funding. The expectation is that all Freeports who have their business case accepted will get similar shares of the available £175 million fund. The amount accessed will depend on the submission of an outline business case (OBC).
It is for the Welsh Government to decide how much seed funding to provide to a Freeport in Wales. Through the application of the Barnett formula at the 2020 Spending Review, the Welsh Government is receiving around £123 per head in 2021-22 for every £100 per head spent by the UK Government on devolved matters in England. It is similarly for the Scottish Government and Northern Ireland Executive to determine how much seed funding to allocate to Freeports in Scotland and Northern Ireland respectively.
There are also a variety of benefits from Freeports, including on tax, customs, planning and innovation, and the seed funding is only one part of the offer available to ports and businesses.
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much funding the Welsh Government will receive to establish a new free port in Wales.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
We want to ensure that the whole of the UK can benefit from Freeports and we remain in ongoing discussions with the Welsh government to establish a Freeport in Wales as soon as possible.
Successful bidders in England will be able to access a share of £175m. This is capital spending to support the development of Freeport sites and should be matched by a mix of private sector investment, council borrowing and co-funding. The expectation is that all Freeports who have their business case accepted will get similar shares of the available £175 million fund. The amount accessed will depend on the submission of an outline business case (OBC).
It is for the Welsh Government to decide how much seed funding to provide to a Freeport in Wales. Through the application of the Barnett formula at the 2020 Spending Review, the Welsh Government is receiving around £123 per head in 2021-22 for every £100 per head spent by the UK Government on devolved matters in England. It is similarly for the Scottish Government and Northern Ireland Executive to determine how much seed funding to allocate to Freeports in Scotland and Northern Ireland respectively.
There are also a variety of benefits from Freeports, including on tax, customs, planning and innovation, and the seed funding is only one part of the offer available to ports and businesses.
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much seed funding will be allocated to each of the eight new free ports in England.
Answered by Steve Barclay - Secretary of State for Environment, Food and Rural Affairs
We want to ensure that the whole of the UK can benefit from Freeports and we remain in ongoing discussions with the Welsh government to establish a Freeport in Wales as soon as possible.
Successful bidders in England will be able to access a share of £175m. This is capital spending to support the development of Freeport sites and should be matched by a mix of private sector investment, council borrowing and co-funding. The expectation is that all Freeports who have their business case accepted will get similar shares of the available £175 million fund. The amount accessed will depend on the submission of an outline business case (OBC).
It is for the Welsh Government to decide how much seed funding to provide to a Freeport in Wales. Through the application of the Barnett formula at the 2020 Spending Review, the Welsh Government is receiving around £123 per head in 2021-22 for every £100 per head spent by the UK Government on devolved matters in England. It is similarly for the Scottish Government and Northern Ireland Executive to determine how much seed funding to allocate to Freeports in Scotland and Northern Ireland respectively.
There are also a variety of benefits from Freeports, including on tax, customs, planning and innovation, and the seed funding is only one part of the offer available to ports and businesses.
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much money has accrued to the public purse from (a) previous and (b) current offshore wind auctions by the Crown Estate relating to Welsh territorial waters.
Answered by Kemi Badenoch - President of the Board of Trade
The Crown Estate’s Offshore Wind Leasing Round 4 has not yet concluded and therefore this information is not known. The revenue raised will depend on the outcome of the upcoming plan-level Habitats Regulations Assessment, as well as how developers subsequently progress potential projects through to construction.
The Crown Estate publishes its financial returns in relation to all its activities in Wales on an annual basis. As set out in The Crown Estate’s most recent Wales Highlights Report, total revenue from offshore renewables in Wales in 2019-20, totalled £3.4 million, up from £3 million in 2018-19. Figures are not published for individual leasing rounds. [https://www.thecrownestate.co.uk/media/3558/wales-highlights-2020.pdf]
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much revenue has been raised by the Crown Estates' Offshore Wind Leasing Round 4 in (a) total and (b) Welsh territorial waters.
Answered by Kemi Badenoch - President of the Board of Trade
The Crown Estate’s Offshore Wind Leasing Round 4 has not yet concluded and therefore this information is not known. The revenue raised will depend on the outcome of the upcoming plan-level Habitats Regulations Assessment, as well as how developers subsequently progress potential projects through to construction.
The Crown Estate publishes its financial returns in relation to all its activities in Wales on an annual basis. As set out in The Crown Estate’s most recent Wales Highlights Report, total revenue from offshore renewables in Wales in 2019-20, totalled £3.4 million, up from £3 million in 2018-19. Figures are not published for individual leasing rounds. [https://www.thecrownestate.co.uk/media/3558/wales-highlights-2020.pdf]
Asked by: Jonathan Edwards (Independent - Carmarthen East and Dinefwr)
Question to the HM Treasury:
What plans he has to bring forward legislative proposals to introduce changes to the minimum age for withdrawing a private pension.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
In 2014 the government announced it would increase the minimum pension age from age 55 to age 57 from 2028.
This increase reflects trends in longevity and encourages individuals to remain in work, while also helping to ensure pension savings provide for later life.
The 2014 announcement set out the timetable for this change well in advance to enable people to make financial plans and will be legislated for in due course.