Asked by: Tracy Gilbert (Labour - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how the National Wealth Fund will support developing port capacity.
Answered by Tulip Siddiq - Economic Secretary (HM Treasury)
The National Wealth Fund (NWF) will create a step change in our ability to mobilise private capital in the UK’s most important sectors and assets. At least £5.8 billion of the NWF’s additional capital will focus on the five sectors announced in the manifesto: green hydrogen, carbon capture, ports, gigafactories and green steel and will be committed over this Parliament.
The NWF is actively engaging across a number of opportunities where financing support for ports could have a catalytic effect on the floating offshore wind market.
Asked by: Tracy Gilbert (Labour - Edinburgh North and Leith)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to provide additional funding to GPs for the cost of the increase in employers' National Insurance Contributions.
Answered by James Murray - Exchequer Secretary (HM Treasury)
Resource spending for the Department of Health and Social Care is set to increase by £22.6 billion in 2025-26 compared to 2023-24 outturn, providing a real-terms growth rate of 4% for the NHS, the largest since before 2010 excluding Covid-19 years. The Government will support local authority services through a real terms increase in core local government spending power of around 3.2%, including at least £600 million of new grant funding to support social care.
The government recognises the need to protect the smallest businesses and charities, which is why we have more than doubled the Employment Allowance to £10,500, meaning more than half of businesses with NICs liabilities either gain or see no change next year. Our tax regime for charities, including exemption from paying business rates, is among the most generous of anywhere in the world with tax reliefs for charities and their donors worth just over £6 billion for the tax year to April 2024.
The Budget will provide support for government departments and other public sector employers for additional Employer NICs costs only. Private sector firms or charities including hospices or social care providers that are contracted by central or local Government will not be exempt from these changes. General Practitioners are independent contractors and therefore will not be exempt from these changes.
This is consistent with the approach to previous Employer NICs changes, as was the case with the previous Government’s Health and Social Care Levy.
DHSC will confirm funding for General Practice for 25/26 as part of the usual GP contract process later in the year, including through consultation with the sector.