Asked by: Luke Myer (Labour - Middlesbrough South and East Cleveland)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department plans to allow people to (a) pay additional Class 3A voluntary National Insurance contributions to increase State Pension entitlement beyond the last six years of working lives and (b) make back-payments to 1975.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The rules for Class 3 voluntary National Insurance Contributions allow individuals to fill gaps in their National Insurance record for the past 6 tax years. There are no plans to change these rules.
Asked by: Luke Myer (Labour - Middlesbrough South and East Cleveland)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to help protect small businesses from bank account closures.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Banking services fulfil a vital role for businesses across the UK.
I recently laid legislation before Parliament which will require banks and other providers to give customers a longer notice period of 90 days before closing accounts and to provide a sufficiently detailed and specific explanation.
This will give people and businesses the time and information they need to challenge decisions or find an alternative provider.
Asked by: Luke Myer (Labour - Middlesbrough South and East Cleveland)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans she has for reform of Capital Gains Tax.
Answered by James Murray - Exchequer Secretary (HM Treasury)
At Autumn Budget 2024, the Government increased the main CGT rates to 18% and 24%. The new CGT rates strike the right balance between raising revenue to repair the public finances and improve public services, while remaining internationally competitive, with lower headline rates than France, Germany and Italy.