Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department plans to review the Help to Buy ISA maximum level which was set at £250,000 for properties outside London back in 2015, given the rise in the average costs of property.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As first-time buyers tend to buy smaller (and therefore cheaper) properties, the Help to Buy: ISA’s property price cap of £250,000 for properties outside London (£450,000 within London) allows the Government to target support more precisely at the people the scheme is intended to help.
While the Government keeps all savings policy under review, individuals with a Help to Buy: ISA can transfer their savings to a Lifetime ISA without incurring any penalties. The Lifetime ISA allows first-time buyers to benefit from the Government bonus when purchasing properties up to £450,000 anywhere in the UK.
Further information on the Lifetime ISA together with a comprehensive list other forms of home purchase support schemes can be found on the Government’s website below:
https://www.ownyourhome.gov.uk/
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many complaints he has received in respect of non-compliance with the National Minimum Wage (Offshore Employment) (Amendment) Order 2020 since its introduction on 1 October 2020.
Answered by Jesse Norman
The Government is determined that everyone who is entitled to the National Minimum Wage (NMW) receives it.
Consequences for not complying with paying the NMW can include fines of 200% of the arrears, public naming and, for the worst offences, criminal prosecution.
HMRC have received no complaints in respect of non-compliance with the National Minimum Wage (Offshore Employment) (Amendment) Order 2020 since its introduction on 1 October 2020.
HMRC are undertaking a range of activities to highlight the change in the law to workers who are likely to be affected by it. HMRC have sent letters to employers across the UK to communicate the change in the law and are producing a series of multi-lingual leaflets to be distributed to workers to encourage them to come forward and make a complaint, if they think they have not been paid at least the National Minimum Wage.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect on tenant credit scores of rent arrears that have accumulated since covid- 19 lockdown measures started in March 2020.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Rental payments are not typically recorded on an individual’s credit file.
However, the Government identified that rental data could be used to contribute to the overall picture of a tenant’s financial position if it were recorded and shared in the same way as other credit payments.
That is why in 2018 the Government launched the Rent Recognition Challenge. This £2 million prize fund challenged firms to develop applications that enable rental tenants to record and share their rental payment data with lenders and credit reference agencies (CRAs) with the aim to help them boost their credit scores, access credit and get on the housing ladder.
The three winners of the challenge, CreditLadder, Bud and RentalStep, are now all using technology to verify and record tenants’ rental payments, which includes apps for borrowers to download and use. Since launching their rent recognition service, CreditLadder has recorded more than £250 million in users’ rental payments and Bud continue to work with large lenders such as HSBC.
Where a tenant who has chosen to have their rental payment data shared with a credit reference agency is in arrears, it could have a negative impact on their credit history and may restrict them from gaining access to credit in the future.
To ensure renters can continue to afford their housing costs during the COVID-19 pandemic, the Government has put in place an unprecedented package of support. These measures include increasing Universal Credit and Working Tax Credit and a significant investment in the Local Housing Allowance (LHA) of nearly £1 billion this financial year. For those who require additional support, Discretionary Housing Payments funding is available.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether landlords securing a buy-to-let mortgage holiday in response to the covid-19 outbreak are required to pay back suspended payments on the remainder of the term of their mortgage.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
Mortgage holidays have provided support for borrowers to manage their finances during a period of uncertainty. Borrowers will still need to repay the full balance of their loan, and will continue to accrue interest during the payment holiday, unless the lender has indicated otherwise. There are various options for managing this, for example, by increasing their remaining monthly payments, or by adding an extension to the term. Borrowers should talk to their lender to understand the options they offer.
Asked by: Mike Kane (Labour - Wythenshawe and Sale East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to introduce a duty on aviation turbine fuel sold in the UK after the end of the transition period.
Answered by Kemi Badenoch - President of the Board of Trade
The aviation sector currently contributes to the cost of public services through Air Passenger Duty (APD). The government has committed to consult on aviation tax reform and will provide an update on timing in due course.