Every parliamentary written question tabled by Richard Holden this session, with the full answer and department. See how every department answers, or back to the MP page.
Showing 161–180 of 192 · Treasury
What assessment she has made of the potential implications for her policies of changes in the number of firms offering bank accounts for trusts.
Ensuring all individuals have access to the appropriate financial services and products they need is a key priority for Government and is vital to supporting people’s financial resilience and wellbeing, and ensuring that individuals are able to fully part...
Pursuant to the Answer of 7 October 2024 to Question 5667 on Small Business: Annual Report, what assessment has been made by the Office for Equality and Opportunity of the impact of the Financial Conduct Authority’s
This Question has been passed to HM Treasury, as the department responsible for financial services regulation. The Financial Conduct Authority is a non-governmental body which is independent from the government. The government does not make assessments of...
If she will make an assessment of the potential impact of changes made to agricultural property relief and business property relief at the Autumn Budget 2024 on discretionary trusts.
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. It is expected that up to around 2...
If she will make an assessment of the potential merits of removing VAT from services provided by (a) psychotherapists and (b) counsellors.
Many services provided directly or supervised by registered health professionals are exempt from VAT, meaning no VAT is charged to the final consumer. However, this relief does not apply to professionals who do not have statutory registers. The UK’s appro...
What assessment she has made of the compliance of the announcement of the new debt rules to the media first with section 9.1 of the Ministerial code.
The announcement on the changes made to the debt fiscal rules was made in the Budget statement on 30th October.
On what criteria HMRC awards a contract to provide it with banking services; and whether those criteria include (a) the ownership of the bank and (b) whether the Government owns shares in the bank.
The criteria HMRC uses as a contracting authority to award Government banking services are guided by the Cabinet Office Sourcing Playbook, and for clarity includes the following: Economic & Financial Standing,Security & Accessibility,Management Ac...
Whether any ministerial directions have been issued since 6 July 2024.
Details of all published Ministerial Directions can be found on the GOV.UK website [1] .There have been no Ministerial directions published since 6 July 2024.Information on confidential Ministerial Directions is not published. As set out in Managing Publi...
Which Minister will be responsible for the National Infrastructure and Service Transformation Authority; and what progress has been made on setting up that Authority.
The National Infrastructure and Service Transformation Authority (NISTA) will combine the functions of the National Infrastructure Commission and Infrastructure and Projects Authority. NISTA will bring oversight of strategy and delivery into one organisat...
What assessment she has made with Cabinet colleagues of the adequacy of (a) online and (b) telephone services for voluntary National Insurance contributions.
To support customers, an enhanced online State Pension forecast service was launched on 29 April 2024. New functionality enables the majority of working age customers to view their payable gaps and make payments online. This service has successfully allow...
What assessment she has made with Cabinet colleagues of the potential merits of abolishing business rates.
The government will create a fairer business rates system that protects the high-street, supports investment, and is fit for the 21st century. Autumn Budget 2024 announced the first steps including an intention to introduce permanently lower multipliers f...
What proportion of people no longer eligible for the winter fuel allowance are higher or additional rate taxpayers.
The Winter Fuel Payment continues to be paid to pensioner households with someone receiving Pension Credit . This means that the Winter Fuel Payment will be better targeted to low income pensioners who need it. Winter Fuel Payments are paid on a household...
Pursuant to the Answer of 21 October 2024 to Question 9237 on Pensioners: Tax Rates and Bands, for what reason does Government not publish this data.
The Winter Fuel Payment continues to be paid to pensioner households with someone receiving Pension Credit or certain other income-related benefits. This means that the Winter Fuel Payment will be better targeted to low income pensioners who need it. This...
Pursuant to the Answer of 10 October 2024 to Question 6585, how much and what proportion of the money accruing to the Treasury as a result of changes to eligibility for the Winter Fuel Payment she expects to come fr
The Government does not publish such data.
What discussions she has had with the insurance industry on ensuring that premiums for homeowners do not increase substantially.
Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors on an ongoing basis.Insurers make commercial decisions about pricing and the terms of cover they offer based on their assessment ...
What steps she is taking to help reduce the impact of off-payroll working rules on the financial services sector and those working in it; and whether she plans to review those rules.
The Government keeps all tax policy and legislation under review. The Government and HMRC published both external research and internal analysis on the impacts of the 2021 reform in the private and voluntary sectors here: https://www.gov.uk/government/pub...
How many and what proportion of pensioner households have at least one (a) higher rate and (b) additional rate taxpayer.
The number of individuals over the state pension age paying higher and additional rate Income Tax in 2021 to 2022 is estimated as 455,000 and 39,300 respectively. These estimates account for the whole of the UK and are based on the 2021 to 2022 Survey of ...
Pursuant to the Answer of 30 July 2024 to Question 1812 on Pay: Young People, if she will make it her policy to publish data on average take home pay for young people working full-time on the minimum wage in (a) cash terms and (b) adjusted for inflation.
The Low Pay Commission publishes an annual report on the National Living Wage, including estimates of take-home income for example, households. The latest report is available here: National Minimum Wage - Low Pay Commission Report 2023 (publishing.service.gov.uk)
Pursuant to the Answer of 25 July 2024 to Question 1813 on Public Expenditure, what the overspend was in each Departmental budget at the end of (a) July and (b) August 2024.
On 29th July, the Chancellor set out the £21.9bn pressure on departmental budgets in the 2024-25 financial year. This announcement was accompanied by the document ‘Fixing the Foundations’. The Chancellor is running a Spending Review and will publish a full breakdown of departmental settlements at Budget in October.
Whether she has made an assessment of the potential merits of (a) restricting early repayment charges on debt to benefit customers and (b) encouraging early repayment.
While specific decisions around early repayment charges on loans are a commercial matter for lenders in which the Government does not intervene, there are rules that govern their use. For mortgages, the Financial Conduct Authority rules set out that lenders should not impose early repayment charges at a level that is more than a reasonable pre-estimate of the costs that would be incurred as a result of a loan being terminated early. For unsecured credit, the Consumer Credit Act 1974 and accompanying regulations set out the requirements on firms where loans are repaid early. Consumers should also be given adequate information about the existence of these charges in the pre-sale disclosure documents lenders are required to give them.
Pursuant to the Answer of 30 July 2024 to Question 1812 on Pay: Young People, if she will make these calculations.
I refer the Rt Hon. member to the publicly-available data sources listed in response to his previous question, from which further calculations can be made. The statistics requested can be calculated for a typical worker on the minimum wage using the following data sources: average hours from ONS dataset HOUR01; inflation from ONS CPI series D7BT; historic Income Tax liabilities from HMRC, “Income Tax Personal Allowances and Reliefs”; historic National Insurance liabilities from HMRC, “Main Features of National Insurance Contributions”. Links can be found on the GOV.UK Website here: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/earningsandworkinghours/datasets/actualweeklyhoursworkedseasonallyadjustedhour01sa https://www.ons.gov.uk/economy/inflationandpriceindices/timeseries/d7bt/mm23 https://www.gov.uk/government/publications/rates-and-allowances-income-tax/income-tax-rates-and-allowances-current-and-past https://www.gov.uk/government/statistics/main-features-of-national-insurance-contributions