Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Retained EU Law Bill, whether they intend to (a) retain, (b) revoke or (c) replace the Excise Duties (Deferred Payment) Regulations 1992.
Answered by James Cartlidge - Shadow Secretary of State for Defence
Tax matters, including the Excise Duties (Deferred Payment) Regulations 1992, are matters for HM Treasury and are kept under constant review, with any announcements made at fiscal events.
All required legislation relating to excise duties and Retained EU Law will be made via the Finance Bill (or subordinate tax legislation) which is usual and appropriate for tax provisions.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Retained EU Law (Revocation and Reform) Bill, whether he plans to (a) revoke, (b) replace or (c) retain the Beer Regulations 1993.
Answered by James Cartlidge - Shadow Secretary of State for Defence
Tax matters, including the Beer Regulations 1993, are matters for HM Treasury and are kept under constant review, with any announcements made at fiscal events.
Now that the UK has left the EU and is free to set its own excise rules, the Government is undertaking the biggest reform of alcohol duties for over 140 years. The new simplified alcohol duty system, based on the principle of taxing alcohol by strength, will be implemented from 1 August 2023. We are introducing Draught Relief, reducing the duty on draught beer and cider by 5%, a measure not possible when we were members of the EU. This will directly support community pubs as over 75% of their sales come from beer and cider.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the Customs (Import Duty) (EU Exit) Regulations 2018 are within the scope of (a) Clause 1 or (b) any other section of the Retained EU Law (Revocation and Reformation) Bill.
Answered by Victoria Atkins - Shadow Secretary of State for Health and Social Care
The Customs (Import Duty) (EU Exit) Regulations 2018 are part of the new domestic customs legislation that gives effect to the UK’s new standalone customs regime. The regulations are not retained EU law and therefore not within the scope of the Retained EU Law (Revocation and Reformation) Bill.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Retained EU Law Bill, whether he plans to (a) retain, (b) replace and (c) revoke the Deposit Guarantee Scheme Regulations 2015.
Answered by Andrew Griffith - Shadow Secretary of State for Science, Innovation and Technology
Retained EU law in financial services is not repealed automatically by the Retained EU Law (Revocation and Reform) Bill. Instead, the Financial Services and Markets Bill repeals retained EU law in financial services so that it can be replaced with an approach to regulation designed for the UK. This includes the Deposit Guarantee Scheme Regulations 2015, which are listed in Schedule 1 of the Bill.
As part of the Edinburgh Reforms, the government published “Building a Smarter Financial Services Framework for the UK “, which sets out its approach to repealing and replacing retained EU law in financial services using the powers in the Financial Services and Markets Bill. This includes identifying the first two “tranches” of reforms.
The Deposit Guarantee Scheme Regulations 2015 will not form part of the first two tranches of reforms, and the government will set out plans regarding these regulations in due course.
Much of the UK’s deposit protection framework is already delegated to the Prudential Regulation Authority (PRA), and sits in PRA rules. These rules are not repealed by the Financial Services and Markets Bill. The rules include, among other things, the depositor coverage limit, which is currently set at £85,000 per eligible person, per bank.
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the value of tax relief granted under (a) Part 15 of the Corporation Tax 2009, (b) Part 15A of the Corporation Tax 2009 and (c) Part 15B of the Corporation Tax 2009 was in each of the last five financial years.
Answered by Victoria Atkins - Shadow Secretary of State for Health and Social Care
The information can be found in the following link:
https://www.gov.uk/government/statistics/creative-industries-statistics-august-2022
Asked by: Stella Creasy (Labour (Co-op) - Walthamstow)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many officials in (a) his Department and (b) HMRC are working on Retained EU Law legislation, as (i) headcount and (ii) Full Time Equivalent.
Answered by Andrew Griffith - Shadow Secretary of State for Science, Innovation and Technology
HMT and HMRC hold a large body of Retained EU Law (REUL), primarily in relation to Financial Services and tax (including excise, customs and VAT). A number of officials from both HMT and HMRC work on REUL legislation. This work is carried out as part of officials’ normal business activities, and we do not record the amount of staff time spent specifically on this work.