Every parliamentary written question tabled by Andrew Snowden this session, with the full answer and department. See how every department answers, or back to the MP page.
Showing 101–120 of 145 · Treasury
Whether the cross-Government Motor Insurance Taskforce is maintaining a formal record of stakeholder engagement; and whether the Credit Hire Organisation was consulted.
The government’s Motor Insurance Taskforce, led by the Department for Transport and HM Treasury, is engaging with a range of interested stakeholders, including the Credit Hire Organisation. The taskforce plans to publish its final report in the autumn.
Whether guidance has been issued to (a) banks and (b) financial services firms on (i) detecting and (ii) reporting transactions linked to sanctioned people smuggling networks.
The Foreign, Commonwealth and Development Office (FCDO) has designated 25 individuals and entities under the new Global Irregular Migration and Trafficking in Persons Sanctions Regulations 2025, and previously published statutory guidance. The Office of Financial Sanctions Implementation (OFSI), responsible for implementing and enforcing financial sanctions, has produced an extensive suite of guidance to provide industry with further clarity and support to comply with financial sanctions, such as the OFSI general guidance, threat assessment reports and FAQs.For further information view OFSI’s general guidance here, and its full suite of guidance here.
What recent assessment she has made of the potential impact of the level of ground rents on mortgage lending decisions.
The pricing and availability of mortgages, including how ground rents factor into mortgage applications, is a commercial decision for lenders in which the Government does not intervene. More widely, the Government remains firmly committed to its manifesto commitment to tackle unregulated and unaffordable ground rents.
What recent discussions he has had with the Secretary of State for Defence on increasing funding for the resilience of defence infrastructure supply chains.
The Government is committed to ensure a strong defence sector and resilient supply chains across the whole of the UK, including for defence infrastructure. The forthcoming Defence Industrial Strategy, due for publication in Autumn, will set out how we will establish long-term partnerships between business and government, promote innovation, and improve resilience. Following Spending Review 2025 further detail on how the Ministry of Defence will spend its budget will be set out in the Defence Investment Plan, which is also scheduled to complete in the Autumn.
Whether she has had recent discussions with the Secretary of State for Health and Social Care on the (a) cost to the NHS of prescribing weight loss medications and (b) the projected cost savings from reduced obesity-related illness.
The Chancellor regularly discusses a wide range of policy issues with the Secretary of State for Health and Social Care.For medicines to be provided by the NHS they must meet strict cost-effectiveness thresholds set by NICE. For tirzepatide, a weightloss jab, evidence submitted by NHS England to NICE last year suggested a potential cost of £19.4bn for the drug, the patient management and the associated care over the first five years from launch if made available to all eligible patients. The NHS is working with partners, including supplies of medicines for weight management, to develop and evaluate innovative delivery models which may support more efficient implementationNICE recommended the NHS begin rolling out trizepatide, for people with a BMI of more than 35 and at least one weight-related illness. In total around 220,000 people are expected to benefit in the initial three year roll out period.The obesity crisis currently costs the NHS an estimated £11.4 billion per year and has significant wider economic and social costs, so tackling this will help to drive long term economic growth.That is why the 10 year health plan, published on 3rd July 2025, set out Government’s plans for decisive action on the obesity crisis, easing the strain on our NHS and creating the healthiest generation of children ever.The Plan sets out a commitment to support people living with obesity, doubling the number of patients able to access the NHS Digital Weight Management Programme and brokering pioneering relationships with the biggest pharmaceutical companies to expand access to weight loss services and treatments across the NHS.The Plan also committed to fulfilling manifesto commitments to restrict junk food advertising and ban sale of high-caffeine drinks. Additionally it announced new proposals to reduce obesity including for large food businesses to report against standardised metrics on healthier food sales along with new targets to increase the healthiness of sales, and updating the Nutrient Profile Model to bring the current advertising and promotion restrictions up to date and make them more impactful.
What assessment she has made of the potential impact of changes to employer National Insurance contributions on employment levels in the hospitality sector in (a) Fylde constituency and (b) Lancashire.
A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer National Insurance contributions (NICs). The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.The Office for Budget Responsibility also publishes Economic and Fiscal Outlooks (EFOs), which set out a detailed forecast of the economy and public finances.With all policies considered, the OBR's March 2025 EFO forecasts the employment level to increase from 33.6 million in 2024 to 34.8 million in 2029The Government decided to protect the smallest businesses from the changes to employer NICs by increasing the Employment Allowance from £5,000 to £10,500. This means that this year, 865,000 employers will pay no NICs at all, and more than half of all employers will either gain or will see no change.
What steps she is taking to support people who were ineligible for government financial support measures during the Covid pandemic.
Decisions on eligibility for Covid-19 financial support were taken by the previous government.The previous Government provided support through the Self-Employment Income Support Scheme (SEISS) and Coronavirus Job Retention Scheme (CJRS). The support was based on two principles: a) targeting support at those who needed it most; and b) guarding against error, fraud, and abuse, whilst reaching as many individuals as possible. Those ineligible for the schemes may have been eligible for other elements of financial support provided by the previous Government. The current Government is working to improve living standards for everyone across the country. We are taking immediate action to support individuals, such as committing to no increases in employee National Insurance, Income Tax or VAT as we want to keep taxes low for working people. Driving growth is the Government’s number one mission, which will help individuals by boosting wages and putting more money in people’s pockets.
What assessment her Department has made of the potential impact of fiscal policy on levels of food inflation in Fylde constituency since 4 July 2025.
HM Treasury does not produce forecasts of the UK economy. Forecasting the economy, including the impact of Government policy decisions, is the responsibility of independent Office for Budget Responsibility (OBR), which published its latest forecast on 26 March 2025. The OBR does not publish estimates of the impact of policy decisions on levels of food inflation, nor on inflation at a constituency level. The Office for National Statistics publishes food inflation data based on observed price movements at a national level, which is not disaggregated to constituency level.
Whether the Growth and Skills Levy will be of the same value as the Apprenticeship Levy; and whether that levy will apply to companies paying over £3 million in wages.
The Government is reforming the Apprenticeship Levy into a Growth and Skills Levy. Alongside existing high-quality apprenticeship routes, this will enable employers in England to invest in a broader range of high-quality training, including foundation apprenticeships and short courses in priority sectors. Skills England, a new national skills organisation, will consult a wide range of partners to ensure that levy-funded training meets the needs of employers, providers, and learners, and delivers good value for money. These reforms focus on expanding the types of training that employers in England can fund through the Levy. There are no plans to change the way employers pay the UK-wide Apprenticeship Levy. The levy will continue to be paid by all UK employers with an annual pay bill over £3 million, at a rate of 0.5 per cent. All taxes are kept under review as part of the Government’s tax policy making process.
If she will make an assessment of the potential impact of the Spring Statement of 26 March 2025 on levels of business confidence in (a) Fylde constituency and (b) Lancashire.
HMT monitors several business confidence and activity measures, none of which are available at the constituency level. According to the Lloyds Business Barometer, in June UK business confidence rose to its highest level since November 2015. HMT does not produce forecasts of the UK economy. Forecasting the economy, including the impact of Government policy decisions, is the responsibility of independent Office for Budget Responsibility (OBR). The OBR does not publish estimates of the impact of policy decisions on business confidence.
If he will make an assessment of the potential merits of introducing tax relief for pensioners undertaking unpaid caregiving responsibilities.
This Government is committed to supporting pensioners and giving them the dignity and security they deserve in retirement, including those who are unpaid carers. The Government has launched an independent commission, chaired by Baroness Louise Casey, to start a national conversation about what care and support working age adults, older people, and their families expect from adult social care, including exploring the needs of unpaid carers who provide vital care and support. Providing tax relief for pensioners undertaking unpaid caregiving responsibilities would not benefit those earning under the Personal Allowance, and would have a cost at a time when the Government has already had to take a number of difficult but necessary decisions on tax, welfare, and spending to restore economic stability, fix the public finances, and support public services.
What fiscal steps her Department is taking to support seasonal businesses in Fylde constituency.
The Government recognises the important role that seasonal businesses play in Fylde, particularly those in the tourism and hospitality sectors. At the Budget the Government implemented a range of fiscal measures that benefit businesses in Fylde. These included:More than doubling the Employment Allowance to £10,500. This means more than half of businesses with NICs liabilities will either gain or see no change this year.For businesses in the hospitality sector serving alcohol, cutting alcohol duty on qualifying draught products – approximately 60% of the alcoholic drinks sold in pubs.Maintaining the Small Profits Rate and marginal relief at their current rates and thresholds, as well as maintaining the £1 million Annual Investment Allowance; andFreezing the small business multiplier for 2025/26 meaning that, taken together with Small Business Rate Relief (SBRR), over a million properties are protected from inflationary bill increases. Looking forward on business rates, we intend to introduce permanently lower tax rates for retail, hospitality & leisure properties with rateable values under £500,000, from April 2026.
Whether she has had discussions with the British Holiday & Home Parks Association on proposed changes to agricultural property relief and business property relief.
The Government has received a number of representations about inheritance tax changes from business organisations since the Autumn Budget. The Government has been listening to the different views on this subject and continues to believe its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting businesses and fixing the public finances in a fair way. The Government is not abolishing either agricultural property relief or business property relief. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. The Government has set out that around 1,500 estates only claiming business property relief are expected to be affected in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. The remaining 500 estates will include business assets from sectors across the economy, that are eligible for business property relief. These reforms mean that around three-quarters of estates claiming business property relief in 2026-27 (excluding those only relating to holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27. The independent Office for Budget Responsibility (OBR) certified the costing of these changes at Autumn Budget 2024 and it does not expect the reforms to have a significant macroeconomic impact.
What assessment her Department has made of the potential economic impact of proposed changes to Business Property Relief and Agricultural Property Relief on the holiday parks sector.
The Government has received a number of representations about inheritance tax changes from business organisations since the Autumn Budget. The Government has been listening to the different views on this subject and continues to believe its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting businesses and fixing the public finances in a fair way. The Government is not abolishing either agricultural property relief or business property relief. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. The Government has set out that around 1,500 estates only claiming business property relief are expected to be affected in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. The remaining 500 estates will include business assets from sectors across the economy, that are eligible for business property relief. These reforms mean that around three-quarters of estates claiming business property relief in 2026-27 (excluding those only relating to holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27. The independent Office for Budget Responsibility (OBR) certified the costing of these changes at Autumn Budget 2024 and it does not expect the reforms to have a significant macroeconomic impact.
Whether she has made an assessment of the impact of the proposed changes to agricultural property relief and business property relief on family-run holiday parks in (a) rural and (b) coastal communities.
The Government has received a number of representations about inheritance tax changes from business organisations since the Autumn Budget. The Government has been listening to the different views on this subject and continues to believe its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting businesses and fixing the public finances in a fair way. The Government is not abolishing either agricultural property relief or business property relief. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. The Government has set out that around 1,500 estates only claiming business property relief are expected to be affected in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. The remaining 500 estates will include business assets from sectors across the economy, that are eligible for business property relief. These reforms mean that around three-quarters of estates claiming business property relief in 2026-27 (excluding those only relating to holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27. The independent Office for Budget Responsibility (OBR) certified the costing of these changes at Autumn Budget 2024 and it does not expect the reforms to have a significant macroeconomic impact.
What estimate she has made of the number of jobs at risk in the holiday parks sector as a result of the proposed changes to inheritance tax reliefs.
The Government has received a number of representations about inheritance tax changes from business organisations since the Autumn Budget. The Government has been listening to the different views on this subject and continues to believe its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting businesses and fixing the public finances in a fair way. The Government is not abolishing either agricultural property relief or business property relief. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. The Government has set out that around 1,500 estates only claiming business property relief are expected to be affected in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. The remaining 500 estates will include business assets from sectors across the economy, that are eligible for business property relief. These reforms mean that around three-quarters of estates claiming business property relief in 2026-27 (excluding those only relating to holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27. The independent Office for Budget Responsibility (OBR) certified the costing of these changes at Autumn Budget 2024 and it does not expect the reforms to have a significant macroeconomic impact.
If HMRC will make an assessment of the potential merits of reinstating the practice of paying interest on savings net of tax.
HMRC receives information from banks and building societies about the savings and investment income they have paid to their customers. Where possible, HMRC will match this information to a taxpayer’s record, and calculate any Income Tax due. If necessary, they will adjust the taxpayer’s tax code and send them an adjusted tax code notice. Guidance on Gov.uk sets out HMRC’s process to collect tax where an individual exceeds their allowance, settled either through Self-Assessment or adjustments to their tax code for Pay As You Earn customers. A combination of several allowances means that around 85% of people with savings income pay no tax on their savings income. Requiring banks and building societies to return to the system of deducting basic rate tax from interest would result in millions of savers being overcharged tax and needing to reclaim it from HMRC to benefit from their savings allowances. The Government keeps all aspects of savings and tax policy under review
If HMRC will make an assessment of the potential merits of enabling secure written communication through the Government Gateway system.
HMRC are currently working on delivering a secure digital communications route for customers and their intermediaries to exchange documents and written communications with HMRC.
Whether HMRC plans to take steps to change the (a) taxation of interest on savings and (b) tax system; and what assessment she has made of the potential impact of the tax system on people who pay both (i) PAYE and (ii) tax on savings interest.
HMRC receives information from banks and building societies about the savings and investment income they have paid to their customers. Where possible, HMRC will match this information to a taxpayer’s record, and calculate any Income Tax due. If necessary, they will adjust the taxpayer’s tax code and send them an adjusted tax code notice. Guidance on Gov.uk sets out HMRC’s process to collect tax where an individual exceeds their allowance, settled either through Self-Assessment or adjustments to their tax code for Pay As You Earn customers. A combination of several allowances means that around 85% of people with savings income pay no tax on their savings income. Requiring banks and building societies to return to the system of deducting basic rate tax from interest would result in millions of savers being overcharged tax and needing to reclaim it from HMRC to benefit from their savings allowances. The Government keeps all aspects of savings and tax policy under review
Whether she has had discussions with her US counterpart on (a) tax exemptions and (b) relief measures for UK-based SMEs that rely on Chinese manufacturing.
The Chancellor regularly speaks with her counterpart, the US Treasury Secretary.This government will continue to act in Britain’s national interest – for workers, for businesses and for families.The Chancellor welcomes areas of collaboration such as the recently announced UK-US economic deal of 8 May.The agreement of 8 May is the first step towards a legally binding Economic Prosperity Deal with the US which will look at increasing digital trade, enhancing access for our world-leading services industries, and improving supply chains.