Written questions by Eastwood.

What support is available for businesses awaiting admission to the UK Internal Market Scheme.

The UK Internal Market Scheme (UKIMS) was launched in June 2023, allowing businesses across the United Kingdom to apply, and HMRC has successfully encouraged over 10,000 traders to get authorised. HMRC is required to take a decision regarding the outcome of a UKIMS application within 120 days. Applications are typically processed with an average turnaround time of 12 to 15 working days. HMRC must undertake a range of checks to verify eligibility for the scheme and, in certain cases, seek further information from businesses. More guidance can be found on gov.uk at: https://www.gov.uk/guidance/apply-for-authorisation-for-the-uk-internal-market-scheme-if-you-bring-goods-into-northern-irelandhttps://www.gov.uk/guidance/check-if-you-can-declare-goods-you-bring-into-northern-ireland-not-at-risk-of-moving-to-the-eu

Whether she is taking steps to improve processing time for applications to join the UK Internal Market Scheme.

The UK Internal Market Scheme (UKIMS) was launched in June 2023, allowing businesses across the United Kingdom to apply, and HMRC has successfully encouraged over 10,000 traders to get authorised. HMRC is required to take a decision regarding the outcome of a UKIMS application within 120 days. Applications are typically processed with an average turnaround time of 12 to 15 working days. HMRC must undertake a range of checks to verify eligibility for the scheme and, in certain cases, seek further information from businesses. More guidance can be found on gov.uk at: https://www.gov.uk/guidance/apply-for-authorisation-for-the-uk-internal-market-scheme-if-you-bring-goods-into-northern-irelandhttps://www.gov.uk/guidance/check-if-you-can-declare-goods-you-bring-into-northern-ireland-not-at-risk-of-moving-to-the-eu

If she will consider reducing the rate of VAT on hospitality.

To support hospitality businesses, the Government intends to introduce permanently lower business rates for retail, hospitality, and leisure (RHL) properties, with Rateable Values below £500,000, from 2026-27. Ahead of these changes being made, the Government recognises that businesses will need support in 2025-26. As such, the Government has prevented the current RHL relief from ending in April 2025, extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and we have frozen the small business multiplier. VAT is the UK’s second largest tax, forecast to raise £171 billion in 2024/25. Tax breaks reduce the revenue available for vital public services and must represent value for money for the taxpayer. Exceptions to the standard rate have always been limited and balanced against affordability considerations.

If she will make an assessment of the potential merits of reducing VAT on hospitality.

To support hospitality businesses, the Government intends to introduce permanently lower business rates for retail, hospitality, and leisure (RHL) properties, with Rateable Values below £500,000, from 2026-27. Ahead of these changes being made, the Government recognises that businesses will need support in 2025-26. As such, the Government has prevented the current RHL relief from ending in April 2025, extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and we have frozen the small business multiplier. VAT is the UK’s second largest tax, forecast to raise £171 billion in 2024/25. Tax breaks reduce the revenue available for vital public services and must represent value for money for the taxpayer. Exceptions to the standard rate have always been limited and balanced against affordability considerations.

With reference to the Department of Health and Social Care's press release entitled Biggest investment into hospices in a generation, published on 19 December 2024, whether any Barnett consequentials will be made av

The Barnett formula applies to all increases or decreases to UK Government Departmental Expenditure Limits (DEL). As this funding for adult and children’s hospices is being re-allocated from within existing Department of Health and Social Care budgets the...

What discussions she has had on the potential merits of appointing a Northern Ireland representative to the Financial Inclusion Committee.

On 5 December, I convened a Financial Inclusion Committee which has been established to tackle the problems of financial exclusion. Through this committee, I will work with consumer groups and industry on the development of a Financial Inclusion Strategy....

If she will make an assessment of the potential merits of appointing a representative from Northern Ireland to the Financial Inclusion Committee.

On 5 December, I convened a Financial Inclusion Committee which has been established to tackle the problems of financial exclusion. Through this committee, I will work with consumer groups and industry on the development of a Financial Inclusion Strategy....

If she will make an assessment of the adequacy of the fiscal floor for Northern Ireland.

As part of the restoration of the Northern Ireland Executive (NIE) the UK Government and NIE agreed to add a 24% needs-based factor into the Barnett formula as it applies to the NIE from 2024-25. This is part of the financial package worth over £3.3 billi...

If she will conduct a comprehensive review of (a) relative need and (b) associated implications for the level of the fiscal floor for Northern Ireland required to ensure equivalent levels of service provision across

As part of the restoration of the Northern Ireland Executive (NIE) the UK Government and NIE agreed to add a 24% needs-based factor into the Barnett formula as it applies to the NIE from 2024-25. This is part of the financial package worth over £3.3 billi...

If she will fund an updated version of the report entitled Cost of Division: A benchmark of performance and expenditure, published by the Ulster University Economic Policy Centre in January 2016.

As part of the restoration of the Northern Ireland Executive (NIE) the UK Government and NIE agreed to add a 24% needs-based factor into the Barnett formula as it applies to the NIE from 2024-25. This is part of the financial package worth over £3.3 billi...

If she will hold discussions with the Financial Conduct Authority on the (a) comparative costs of paying (i) vehicle and (ii) household insurance (A) annually and (B) in monthly instalments and (b) impact of such co

Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors on an ongoing basis. The Government recognises that the ability to pay insurance premiums in instalments is an important tool for...

If she will hold discussions with the Financial Conduct Authority on the comparative costs of car insurance in (a) Northern Ireland and (b) Great Britain.

Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sectors on an ongoing basis. The Government is determined that insurers should treat all customers fairly and insurance companies are req...

Whether she plans to bring forward legislative proposals to regulate buy-now-pay-later financial products.

Regulating Buy Now Pay Later products is crucial to protect people and deliver certainty for the sector. The government will be looking to work closely with all interested stakeholders and will set out its plans shortly.