Written questions by Davies.

If she will make an estimate of the number of staff within the National Wealth Fund that did not previously work for the UK Infrastructure Bank.

The Chancellor announced at the International Investment Summit on 14th October 2024 that the UK Infrastructure Bank would be transformed into the National Wealth Fund (NWF), This change took effect on that day. All UKIB staff were retained as part of the NWF.To realise its ambition to catalyse more private investment and accelerate investable projects coming to market across the UK, the NWF will be expanding its team based at its headquarters in Leeds.The number of roles at the NWF will be published in the “Staff Report” within the NWF’s Annual Report of Accounts, published following the end of this financial year.

Which news services her Department holds subscriptions to.

The Department holds subscriptions to the following news services:Dow Jones FactivaTimesTelegraphThe IndependentThe GuardianThe SunDaily ExpressDaily Mail/Mail on Sunday + Daily Mail PlusDaily MirrorDaily StarFinancial TimesPoliticsHomeBloomberg OnlineBloomberg Tax OnlineThe EconomistThe SpectatorNew StatesmanReutersYorkshire PostPress Association MediapointCision (press cuttings company)

Communities and Local Government, whether she plans to activate the Flood Recovery Framework in response to flooding (a) in Lincolnshire and (b) elsewhere in January 2025.

My thoughts remain with householders and business owners impacted by flooding after the recent heavy rainfall, flooding is a devastating experience for all those affected.Government support in the aftermath of flooding is only provided in exceptional circumstances and at present, overall, the scale of impacts is not sufficiently significant for the Flood Recovery Framework to be activated in any area. However, my officials continue to review impacts data and stand ready to support as appropriate.

With reference to her Department's policy paper entitled Capital Gains Tax: Rates of tax — carried interest, published on 30 October 2024, what the evidential basis is for the cost of implementing a one year increase to Capital Gains Tax.

The published operational costs represent a high-level cost estimate for the changes required to HMRC IT systems to deliver this policy change which follow a recognised standard methodology. HMRC do not provide detailed costs related to policy changes. Separately, the revenue impacts of the changes to the rates of Capital Gains Tax (CGT) on carried interest from 6 April 2025 are included in the costings published in the main Autumn Budget 2024 document. The CGT changes are the first step of a reform package that will put the tax treatment of carried interest on a fairer and sustainable footing, while preserving the competitiveness of the UK as a fund management fund. From 6 April 2026, the carried interest tax regime will move fully across to the Income Tax framework; this will be legislated in a future Finance Bill, which the House will have the opportunity to consider.

With reference to paragraph 5.76 of the Autumn Budget 2024, HC 295, published on 30 October 2024, when the next bi-annual fiscal forum with the Oil and Gas sector will take place; where that forum will take place; and who will attend on behalf of the Government.

The government is committed to maintaining an open and constructive dialogue with the oil and gas sector to support our energy security and ensure the sector plays its role in our clean energy ambitions. In line with this I will chair the next Oil and Gas Fiscal Forum in the first quarter of next year. The date and location of the forum has not yet been confirmed.

If he will make an estimate of the number of people who are employed to deliver public services by private sector organisations that have been contracted for this purpose by Government Departments.

The Cabinet Office does not hold information on the estimated number of people employed by private sector organisations contracted by Government Departments to deliver public services. Individual departments are responsible for managing their contracts in the usual way.

What information his Department holds on the number of contracted employees in the public sector.

The information requested falls under the remit of the UK Statistics Authority. A response to the Hon. Gentleman’s Parliamentary Question of 21 November is attached.

Pursuant to the Answer of 18 November 2024 to Question 13623 on Agriculture: Inheritance Tax, what data her Department holds on the impact of reforms to (a) agricultural property relief and (b) business property relief on tenant farmers.

The Government has published information about the reforms to agricultural property relief and business property relief. In addition to the information highlighted in the Answer of 18 November 2024 to Question 13623 on Agriculture: Inheritance Tax, the Chancellor of the Exchequer provided further data in her recent letter to the Chair of the Treasury Select Committee. The letter is available at committees.parliament.uk/publications/45691/documents/226235/default/. The Government has held meetings with a range of stakeholders, including the Tenant Farmers Association.

With reference to her Department's policy paper entitled Summary of reforms to agricultural property relief and business property relief, published on 30 October 2024, whether he has made an assessment of the number of farmers that will exit the sector as a result of this change.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief. Around 500 estates across the UK are expected to be affected each year from 2026-27. In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.

With reference to her Department's policy paper entitled Summary of reforms to agricultural property relief and business property relief, published on 30 October 2024, what assessment he has made of the impact of this change on tenant farmers.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief. Around 500 estates across the UK are expected to be affected each year from 2026-27. In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.

With reference to paragraph 2.51 of the Autumn Budget 2024, published on 30 October, whether (a) non-residential agricultural buildings, (b) farm vehicles, (c) farm tools, (d) livestock and (e) chemicals and fertiliser stock are included in the valuation of an estate and its assets.

I can confirm that (a) non-residential agricultural buildings, (b) farm vehicles, (c) farm tools, (d) livestock and (e) chemicals and fertiliser stock are all included in the valuation of the agricultural and business assets of an estate.

With reference to page 41 of her Department's document entitled Autumn Budget 2024, Policy Costings, published on 30 October 2024, what the evidential basis is for the Exchequer impact of changes to agricultural property relief and business property relief being £495 million in 2027-28; and what the split is between the two reliefs.

The costing methodology for reforming agricultural property relief and business property relief from 6 April 2026 by maintaining 100% relief for the first £1m of combined assets and 50% relief thereafter, and 50% relief for “not listed” shares on the markets of a recognised stock exchange is published in the Autumn Budget 2024 Policy Costing Document on page 41:https://assets.publishing.service.gov.uk/media/6721d2c54da1c0d41942a8d2/Policy_Costing_Document_-_Autumn_Budget_2024.pdf.

Communities and Local Government, whether her Department is taking steps to support farmers affected by compulsory purchase orders for nationally significant infrastructure projects to find alternative land nearby.

Development Consent Orders can include provisions which allow the applicant to compulsorily acquire land, with applicants required to follow the process and procedures set out in the Planning Act 2008 and associated regulations.Government guidance for applicants seeking authorisation for the compulsory acquisition of land reinforces that applicants should demonstrate that all reasonable alternatives have been explored. Applicants need to demonstrate that proposed interference with the rights of those with an interest in the land is for a legitimate purpose, and that it is necessary and proportionate.The Secretary of State must be persuaded that the purposes for which an order authorises the compulsory acquisition of land are legitimate and are sufficient to justify interfering with the human rights of those with an interest in the land affected. These matters are considered by the Examining Authority during its examination and inform its recommendation to the Secretary of State.

With reference to her oral contribution to the debate on Social Security of 10 September 2024, Official Report, column 735, whether her estimate that pensioners will be £1,700 better off by the end of this Parliament includes tax payable on that income.

Through this Government’s commitment to the Triple Lock, the full yearly rate of the new State Pension is forecast to increase by around £1,700 by the end of this Parliament. This estimate accounts for potential income tax payable on the full new State Pension income alone, based on current legislation. Where people have other income, income tax may be payable, as has always been the case. The Personal Allowance threshold is £12,570 per annum and frozen until 2027/28 then assumed to be uprated by CPI till the end of parliament (29/30). The new State Pension is £11,542 per annum and assumed to be uprated by Triple lock till the end of parliament. Economic assumptions for CPI and Triple Lock are consistent with OBR’s Spring Budget 2024 forecasts. OBR’s Spring Budget 2024 economic assumption forecasts are found here: Detailed_forecast_tables_Economy_March_2024.xlsx (live.com)

What estimate her Department has made of the proportion of people who are eligible for Pension Credit who will take up that benefit in the next 12 months.

No such estimate has been made.