Asked by: Karl McCartney (Conservative - Lincoln)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will make an assessment of the effect on motor insurance premiums of the recent increase in insurance premium tax.
Answered by Harriett Baldwin
Insurers must pay IPT on the value of premiums received for general insurance. If insurers pass on the full rate increase to their customers, the impact on premiums would be an increase of only 3.5%.
Tax forms only a small part of the cost of motor insurance. Other factors include competition, the volume of low value personal injury claims and fraud. The government has taken steps to crack down on the fraud and claims culture such as announcing at Autumn Statement 2015 proposals to end the right to cash compensation for minor whiplash injuries. The government expects the insurance industry to pass an average saving of £40 to £50 per motor insurance policy on to consumers.
The government also encourages consumers to shop around for the most suitable cover at the best price.
Asked by: Karl McCartney (Conservative - Lincoln)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether his Department plans to put in place a five per cent rate of VAT to golf participants at proprietary golf facilities.
Answered by David Gauke
Fees paid for participation in golf at proprietary facilities are subject to the standard rate of VAT.
Asked by: Karl McCartney (Conservative - Lincoln)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what representations his Department has received on allowing a five per cent rate of VAT to golf participants at proprietary golf facilities.
Answered by David Gauke
HM Treasury has received representations on applying a five per cent rate of VAT to golf from both the Association of Golf Course Owners, the Reduce VAT in Sport campaign group, the UK Golf Course Owners Association, and England Golf.
Asked by: Karl McCartney (Conservative - Lincoln)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what recent estimate he has made of the level of employment.
Answered by Priti Patel
There are record numbers of people in work, and since the Coalition came into power employment has increased by 1.8 million. The latest data shows unemployment falling at the fastest annual pace for more than 25 years, and the largest fall in youth unemployment ever on record. Over 2 million private sector jobs have been created since early 2010, meaning that for every public sector job lost over 5 have been created in the private sector.
Asked by: Karl McCartney (Conservative - Lincoln)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what future plans the Government has to utilise funds from the unclaimed life policies or dormant bank accounts.
Answered by Sajid Javid
On 27 March the Government published a Review of the Dormant Bank and Building Society Accounts Act 2008, which set out the Government's view on the existing schemes set up in the legislation.
The Government currently has no plans to use funds from unclaimed life insurance policies, but keeps all policy under review.