To match an exact phrase, use quotation marks around the search term. eg. "Parliamentary Estate". Use "OR" or "AND" as link words to form more complex queries.


Keep yourself up-to-date with the latest developments by exploring our subscription options to receive notifications direct to your inbox

Written Question
Collective Investment Schemes: Regulation
Monday 18th September 2023

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what regulatory framework is in place to supervise (a) unregulated collective investment schemes and (b) the promotion of those schemes.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

The UK’s financial promotions regime, underpinned by Section 21 and Section 238 of the Financial Services and Markets Act 2000 (FSMA), seeks to ensure that consumers are provided with clear and accurate information that enables them to make appropriate decisions for their individual circumstances. Under this regime, the FCA has imposed rules on the promotion of unregulated collective investment schemes, including that such schemes cannot be promoted to ordinary members of the public.

Enforcement relating to the promotion of unregulated collective investment schemes is generally a matter for the FCA, which is operationally independent from the Government. These questions have therefore been passed to the FCA who will respond directly to the honourable Member by letter. A copy of the letter will be placed in the Library of the House.


Written Question
Collective Investment Schemes: Regulation
Monday 18th September 2023

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what data his Department holds on he number of (a) cases investigated and (b) enforcement actions taken against individuals and entities involved in the promotion of unregulated collective investment schemes in each of the last five years.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

The UK’s financial promotions regime, underpinned by Section 21 and Section 238 of the Financial Services and Markets Act 2000 (FSMA), seeks to ensure that consumers are provided with clear and accurate information that enables them to make appropriate decisions for their individual circumstances. Under this regime, the FCA has imposed rules on the promotion of unregulated collective investment schemes, including that such schemes cannot be promoted to ordinary members of the public.

Enforcement relating to the promotion of unregulated collective investment schemes is generally a matter for the FCA, which is operationally independent from the Government. These questions have therefore been passed to the FCA who will respond directly to the honourable Member by letter. A copy of the letter will be placed in the Library of the House.


Written Question
Collective Investment Schemes: Regulation
Monday 18th September 2023

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what measures his Department has in place to protect investors from the promotion of unregulated collective investment schemes; and what penalties or enforcement action is being pursued against those found promoting such schemes.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

The UK’s financial promotions regime, underpinned by Section 21 and Section 238 of the Financial Services and Markets Act 2000 (FSMA), seeks to ensure that consumers are provided with clear and accurate information that enables them to make appropriate decisions for their individual circumstances. Under this regime, the FCA has imposed rules on the promotion of unregulated collective investment schemes, including that such schemes cannot be promoted to ordinary members of the public.

Enforcement relating to the promotion of unregulated collective investment schemes is generally a matter for the FCA, which is operationally independent from the Government. These questions have therefore been passed to the FCA who will respond directly to the honourable Member by letter. A copy of the letter will be placed in the Library of the House.


Written Question
Collective Investment Schemes: Regulation
Monday 18th September 2023

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to identify and prevent entities and individuals promote unregulated collective investment schemes.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

The UK’s financial promotions regime, underpinned by Section 21 and Section 238 of the Financial Services and Markets Act 2000 (FSMA), seeks to ensure that consumers are provided with clear and accurate information that enables them to make appropriate decisions for their individual circumstances. Under this regime, the FCA has imposed rules on the promotion of unregulated collective investment schemes, including that such schemes cannot be promoted to ordinary members of the public.

Enforcement relating to the promotion of unregulated collective investment schemes is generally a matter for the FCA, which is operationally independent from the Government. These questions have therefore been passed to the FCA who will respond directly to the honourable Member by letter. A copy of the letter will be placed in the Library of the House.


Written Question
Gaming Machines: Excise Duties
Thursday 9th February 2023

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of allowing businesses in the land-based gambling sector that pay Machine Games Duty to reclaim VAT.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

The takings from gaming machines that are subject to Machine Games Duty are exempt from VAT. This means that businesses do not have to charge any VAT on the machine takings but, in line with the normal VAT rules, they cannot reclaim VAT on related costs.

There are no plans to review the VAT liability of this income.


Written Question
Coronavirus Job Retention Scheme and Self-Employment Income Support Scheme: Blackpool South
Tuesday 11th October 2022

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an estimate of the costs to the public purse of the (a) Coronavirus Job Retention Scheme and (b) Self-Employment Income Support Scheme for claims made in Blackpool South constituency.

Answered by Richard Fuller

HMRC published statistics on the Coronavirus Job Retention Scheme (CJRS) and Self Employment Income Support Scheme (SEISS) are available at: https://www.gov.uk/government/collections/hmrc-coronavirus-covid-19-statistics.

For the CJRS, the total value of claims is not available for individual constituencies. By the end of the scheme, a total of 15,500 employments benefitted from CJRS in the Blackpool South constituency.

For the SEISS, 13,700 claims were made at a cost of £30,500,000 in the Blackpool South constituency.
Written Question
Non-domestic Rates: Tax Allowances
Tuesday 9th November 2021

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he plans to increase the cap on the 50 per cent reduction in business rates for the retail, leisure and hospitality sector to support businesses with larger numbers of sites.

Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport

Together with Small Business Rates Relief, over 90 per cent of retail, hospitality and leisure businesses will receive at least a 50 per cent reduction in their business rates bills in 2022-23.


Written Question
Gaming Machines: Non-domestic Rates
Monday 8th November 2021

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether the amusement machine industry will be eligible for the 50 per cent business rates relief discount available to the retail, leisure, and hospitality industry.

Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport

Guidance setting out eligibility for the 2022-23 retail, hospitality and leisure relief will be published by the Department for Levelling Up, Housing and Communities in due course.


Written Question
Regional Airports
Wednesday 22nd September 2021

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of (a) reducing or (b) removing Air Passenger Duty on two-way domestic UK flights to assist the growth of (i) regional and (ii) Blackpool airports.

Answered by Helen Whately - Minister of State (Department of Health and Social Care)

As part of its recent consultation on aviation tax, the Government outlined its initial view that the effective rate of Air Passenger Duty (APD) on domestic flights should be reduced in order to support Union and regional connectivity and that the number of international distance bands should be increased in order to align APD more closely with our environmental objectives.

The consultation sought evidence on the potential impacts of these proposals, including on regional air routes. As part of the consultation process the Government engaged with airports in all parts of the UK.

The Government is currently reviewing responses to the consultation and will update in due course.


Written Question
Gaming Machines: Excise Duties
Monday 1st February 2021

Asked by: Scott Benton (Independent - Blackpool South)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of reducing Machine Games Duty for high street arcades to mitigate the financial effects of covid-19 restrictions.

Answered by Kemi Badenoch - President of the Board of Trade

The Government has no current plans to reduce Machine Games Duty. High street arcade operators will have been able to benefit from the package of measures introduced to mitigate the financial impact of Covid-19 worth over £280 billion, including the Job Retention Scheme, which has been extended until April, the Coronavirus Business Interruption Loan Scheme, the bounce back loan and payment deferral schemes.

HM Treasury keeps all taxes, including Machine Games Duty, under active review.