Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions his department has had with officials from Companies House in each of the last 12 months.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
Treasury Ministers and officials have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery, including Companies House and BEIS in their role as the sponsoring department for Companies House.
HM Treasury has committed £63 million over the Spending Review period to support reform of Companies House, which is currently being legislated for through the Economic Crime and Corporate Transparency Bill.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department is taking steps to encourage the growth of the consumer co-operative sector.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is committed to having a thriving co-operative sector and helping to support and establish further businesses which serve local communities up and down the country.
The Government has provided significant support to the co-operative sector in recent years and has sought to improve the business environment for co-operatives and mutuals. The Co-operative and Community Benefit Societies Act 2014 helped cut through the legal complexity involved in running a co-operative, improving their competitiveness. The ability of co-operatives to raise £100,000 of withdrawable share capital per member, increased from £20,000 in 2014, has also ensured that co-operatives have the necessary flexibility to raise funding and compete more effectively with companies.
Most recently, the Government is supporting a Private Members' Bill on Co-operatives, Mutual Insurers, and Friendly Societies, which will grant HM Treasury the power to bring forward regulations to give those mutuals further flexibility in determining for themselves the best strategies for their business regarding their surplus capital.
The Government also aims to continue to develop a modern and supportive business environment to set mutuals up for success, and as part of this, it is currently exploring options for reviewing key legislation underpinning the sector.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment his office has made of the potential merits of extending eligibility for free vehicle tax to recipients of Attendance Allowance.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
The Government is absolutely committed to supporting disabled people and is determined that support should be focused on people who need it most. The aim of existing Vehicle Excise Duty (VED) exemptions for recipients of some disability benefits is to provide additional help for people who become disabled early, or relatively early, in life and as a result experience economic disadvantage. These allowances are therefore only available to people who become disabled before State Pension age.
For individuals who develop a disability after State Pension age, Attendance Allowance (AA) is a non-means-tested benefit which provides targeted help with the extra costs of disability and helps them maintain their independence. Unlike Disability Living Allowance and Personal Independence Payment, AA does not have a mobility component and is intended to cover the need for care or supervision an individual requires as a result of their disability rather than specific mobility needs. Individuals can however choose to use their AA to fund mobility aids.
As with all taxes, VED remains under review and any changes are considered by the Chancellor as part of the tax policy making cycle and Budget process.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the number of vehicles registered in Ukraine currently listed with the DVLA under the temporary admission relief scheme.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
The information requested is not held.
Ukrainian arrivals entering the UK temporarily under the Homes for Ukraine scheme do not need to declare their personal vehicles to Customs or pay any customs duty or import VAT on their vehicle, provided the vehicle is taxed and registered in its home country.
Similarly, the DVLA does not require individuals to register and tax their vehicle in the UK until they become resident for more than 6 months.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential merits of extending the temporary admission relief scheme for vehicles registered in Ukraine until the end of the Ukraine-Russia conflict.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
Ukrainian arrivals entering the UK temporarily under the Homes for Ukraine scheme do not need to declare their personal vehicles to Customs or pay any customs duty or import VAT on their vehicle, provided the vehicle is taxed and registered in its home country.
This is provided for under the Temporary Admission (TA) procedure which allows certain goods to be imported into the UK temporarily, with total relief from customs duty and import VAT. Under TA, imported goods or belongings must not be altered (but can be repaired to maintain their condition) and must be re-exported within a set time period (normally 6 months).
If vehicles will be in the UK for more than 6 months, Ukrainian arrivals can either:
All individuals must register and tax their vehicle with the Driver and Vehicle Licensing Agency if they become resident or stay longer than 6 months.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when his Department will publish its conclusions on the consultation on reforming the UK's Anti-Money Laundering Supervision system.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The government published a review of the UK’s anti-money laundering and counter terrorist financing (AML/CFT) regulatory and supervisory regime in June 2022. The review recognised that despite significant progress from the UK’s AML/CFT supervisors, there is still room for further improvement to strengthen the UK’s defences against economic crime.
The review also set out possible options for future reform. The Treasury will publish its conclusions following a formal consultation on the options under consideration, to ensure the risks and implications are fully understood.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of lifting the Small Business Rates Threshold to £25,000 for SMEs in winter 2022.
Answered by Richard Fuller
Small Business Rate Relief (SBRR) is available to businesses with a single property with a rateable value below the threshold of £15,000. The relief targets the smallest businesses where help is needed most, with more than 700,000 of the smallest businesses paying no rates at all. Further increases in the generosity of SBRR would be a broad-based and an indiscriminate way to provide support and would therefore be a poorly targeted form of relief.
At Autumn Budget 2021, the Government announced a package of changes worth £7 billion to business over the next 5 years. This includes a freeze to the multiplier for 2022-23, which will support all ratepayers large and small, and almost £1.7 billion in support for the retail, hospitality, and leisure sectors in 2022-23.
As with all taxes, the Government keeps business rates under review.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many young people aged eighteen or younger have undertaken work experience in his Department in the last 12 months.
Answered by Felicity Buchan - Parliamentary Under Secretary of State (Department for Levelling Up, Housing and Communities)
HM Treasury is committed to fairness and, in particular, the promotion of equality of opportunity for all.
In the last 12 months, 25 young people, aged between 16-18, participated in a week of work experience via the Department’s formal annual programme.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will ask the Office for Budget Responsibility to prepare an updated fiscal forecast to reflect the Government's (a) energy price cap and (b) taxation policies.
Answered by Chris Philp - Minister of State (Home Office)
The Chancellor announced in his statement to the House on Friday 23 September that he will commission the OBR to produce a forecast to be published by the end of this calendar year. We are committed to maintaining the usual two forecasts in this fiscal year, as is required.
Asked by: Seema Malhotra (Labour (Co-op) - Feltham and Heston)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Future Regulatory Framework Review, what assessment he has made of the potential impact on economic stability of proposals to introduce new statutory objectives of competitiveness and growth for the Financial Conduct Authority.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The government intends to provide for a greater focus on growth and international competitiveness through the introduction of new secondary objectives for the PRA and the FCA.
As the regulators take on additional responsibilities for determining the rules that financial services firms must follow, it is right that their objectives reflect the importance of the financial services sector as an engine of growth for the wider economy, and the need to support the future of the UK as a global financial centre.
These new secondary objectives will complement the regulators’ existing objectives of ensuring that UK firms remain safe and sound, that the UK’s markets function well, that there is effective competition in the interests of consumers, and that consumers of financial services receive an appropriate degree of protection. The government has always been clear that the UK will remain a global leader in promoting high international standards, while ensuring that the financial services sector is delivering for businesses and consumers across the UK.