Asked by: William Wragg (Independent - Hazel Grove)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to (a) bring forward and (b) consult on legislative proposals on the oversight and regulation of the actuarial profession during this parliamentary session.
Answered by Andrew Griffith - Shadow Secretary of State for Business and Trade
The Government’s response to its White Paper consultation on its reform proposals was published on 31 May 2022. The Government has committed to legislating when Parliamentary time allows.
Prior to issuing its response to the White Paper consultation, the Government consulted extensively on its proposals to reform the oversight and regulation of the actuarial profession, including holding discussions with a range of actuarial stakeholders. The Government will continue to engage with actuarial stakeholders.
Asked by: William Wragg (Independent - Hazel Grove)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of (a) reducing and (b) removing the vehicle tax on a vehicle used to assist a person with disabilities.
Answered by Victoria Atkins - Shadow Secretary of State for Environment, Food and Rural Affairs
The Government is absolutely committed to supporting disabled people and is determined that support should be focused on people who need it most. Individuals in receipt of the higher rate mobility component of Disability Living Allowance and its successor, Personal Independence Payment (PIP), qualify for a full exemption from Vehicle Excise Duty (VED). A fifty per cent reduction in VED is available to those in receipt of the PIP standard rate mobility component.
More information can be found on the Gov.UK website: https://www.gov.uk/financial-help-disabled/vehicles-and-transport.
As with all taxes, VED remains under review and any changes are considered and announced by the Chancellor.
Asked by: William Wragg (Independent - Hazel Grove)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the British Business Bank's regional angels programme will be extended with funding from his Department.
Answered by Helen Whately - Shadow Secretary of State for Work and Pensions
The British Business Bank’s Regional Angels Programme provides early-stage equity capital to smaller businesses with high growth potential across the UK. The British Business Bank’s funding for the next three years will be set out at the Spending Review.
Asked by: William Wragg (Independent - Hazel Grove)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has plans to extend the Term Funding Scheme to non-bank lenders to improve alternative financing options.
Answered by John Glen
The Term Funding Scheme (TFS) is a monetary policy tool of the independent Monetary Policy Committee (MPC) of the Bank of England. Therefore, it is not appropriate for the Government to comment on its conduct or effectiveness.
The separation of fiscal and monetary policy is a key feature of the UK’s economic framework, and essential for the effective delivery of monetary policy.
We will continue to work with non-bank lenders to support their participation in the new Recovery Loan scheme following the closure of the Coronavirus Business Interruption Loan Scheme (CBILS), the Coronavirus Large Business Interruption Loan Scheme (CLBILS), and the Bounce Back Loan Scheme (BBLS).