Asked by: Chuka Umunna (Liberal Democrat - Streatham)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate his Department has made on the benefit to UK companies of an increase in the capacity of the UK's Islamic finance market.
Answered by David Gauke
Islamic finance is the one of the world’s fastest growing sectors - according to estimates from TheCityUK, at the current rate of growth, the market will exceed US$2 trillion in assets by the end of this year.[1] The Government has not estimated the benefits to UK companies of the expansion of the UK’s Islamic finance market, although we recognise the significant opportunity it represents UK firms.
The Government is committed to ensuring that the UK remains the global partner and destination of choice for Islamic finance. In June this year the Government was the first western country to issue a sovereign sukuk, an Islamic bond, worth £200 million. This cemented the UK’s position as the western hub for Islamic finance and demonstrates that the UK has created a level playing field which puts Islamic finance on par with conventional forms of finance.
The UK has a high concentration of Islamic finance and related professional services firms: 6 full Islamic banks, over 20 banks offering Islamic finance products and services, and over 25 UK law firms have Islamic finance units. As the Government continues its efforts to develop the UK’s Islamic finance market, we expect further opportunities and benefits to arise for UK companies although these have not been estimated.
Asked by: Chuka Umunna (Liberal Democrat - Streatham)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many business rates appeals to the Valuation Office Agency are currently classified as (a) outstanding, (b) received and (c) cleared, by region; and what the current median time taken in days is to clear business rates challenges in each region.
Answered by David Gauke
Table 1 shows the latest available statistics on proposals (appeals), by region, to amend the 2010 rating lists. The numbers provided cover England and Wales for the duration of the 2010 rating list as of 30 September 2013.
Table 1: Proposals to amend the 2010 Rating Lists
Region | Total Received1,2 1 Apr 10 to 30 Sept 13 | Total Cleared1,2 1 Apr 10 to 30 Sept 13 | Total Outstanding1,2 at 30 Sep 13 | Median time to clear (days) 30 Sept 13 |
England and Wales | 572,780 | 409,680 | 163,100 | 360 |
England | 544,550 | 388,850 | 155,700 | 360 |
North East | 23,030 | 17,370 | 5,660 | 360 |
North West | 79,090 | 58,620 | 20,470 | 370 |
Yorkshire and the Humber | 52,920 | 41,150 | 11,770 | 330 |
East Midlands | 34,530 | 26,520 | 8,010 | 300 |
West Midlands | 53,310 | 40,540 | 12,770 | 320 |
East | 53,340 | 37,530 | 15,820 | 380 |
London | 119,130 | 71,540 | 47,590 | 400 |
South East | 77,700 | 56,440 | 21,260 | 380 |
South West | 51,500 | 39,150 | 12,350 | 350 |
Wales | 28,230 | 20,830 | 7,400 | 360 |
1 Figures may not sum to the totals due to the rounding of figures.
2 VOA Official Statistics, Local Rating Lists: Business Rates
(Experimental Statistics): Table As, November 2013
http://www.voa.gov.uk/corporate/_downloads/xls/NDR_TableA_All_2010.xls
Asked by: Chuka Umunna (Liberal Democrat - Streatham)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, to how many businesses the letter from the Prime Minister about the employment allowance was sent; what criteria were used to select those businesses; and how the addresses and other details of the businesses to which the letter was sent were obtained.
Answered by David Gauke
HM TREASURY
HMT Ref : 3522N 13/14 ANSWERED ON 10 APRIL 2014
Chuka Umunna MP
STREATHAM
To ask Mr Chancellor of the exchequer, to how many businesses the letter from the Prime Minister to them about the employment allowance was sent to; what criteria was used to select those businesses; and where the addresses and other details of the businesses to which the letter was sent were obtained. 195622
HMT Ref : 3524N 13/14
Chuka Umunna MP
LAB - STREATHAM
To ask Mr Chancellor of the Exchequer, what the total cost to the public purse was of the letter sent to businesses by the Prime Minister on the employment allowance. 195623
HMT Ref : 3525N 13/14
The Rt Hon Jack Straw MP
LAB - BLACKBURN
To ask Mr Chancellor of the Exchequer, how many copies of the Prime Minister's recent letter concerning new tax cuts for businesses and charities were printed and at what cost; what the total cost was of printing distribution and postage in respect of these letters; and from which vote this expenditure will be taken. (195468)
HMT Ref : 3526N 13/14
The Rt Hon Jack Straw MP
CON - TONBRIDGE & MALLING
To ask Mr Chancellor of the Exchequer, whether, on previous occasion the Prime Minister of the day has written to taxpayer about new tax cuts; at what cost; and if he will place copies of such correspondence in the Library. (195469)
HMT Ref : 3527N 13/14
Emily Thornberry MP
LAB - ISLINGTON SOUTH & FINSBURY
To ask Mr Chancellor of the Exchequer, where the Prime Minister's Office obtained contact details of the businesses and charities to whom he sent a letter about changes to national insurance contributions which took effect from 6 April 2014. (195627)
HMT Ref : 3528N 13/14
Emily Thornberry MP
LAB - ISLINGTON SOUTH & FINSBURY
To ask Mr Chancellor of the Exchequer, whether the Prime Minister's Office used any private companies to distribute to businesses and charities the letter he signed about changes to national insurance contributions which took effect from 6 April 2014. (195628)
HMT Ref : 3529N 13/14
Emily Thornberry MP
LAB - ISLINGTON SOUTH & FINSBURY
To ask Mr Chancellor of the Exchequer, what the cost was of sending businesses and charities the letter the Prime Minister signed about changes to National Insurance contributions which took effect from 6 April 2014. (195629)
DAVID GAUKE
The Employment Allowance was introduced to promote both growth and employment, particularly among small businesses, and its success is heavily dependent on ensuring that businesses know whether they are eligible, which they can check by visiting https://www.gov.uk/employment-allowance. It is estimated to benefit UK employers by approximately £1.25bn for employers in 14/15.
The Prime Minister's letter was distributed by HMRC and its contractors and targeted c1.7m current and potential employers most likely to benefit from the allowance.
It cost approximately £430,000 including the cost of postage, which equates to 25 pence per letter and its distribution is consistent with the Government's wider awareness raising campaign ensuring that employers are aware of the allowance and check their eligibility.
Asked by: Chuka Umunna (Liberal Democrat - Streatham)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the total cost to the public purse was of the letter sent to businesses by the Prime Minister on the employment allowance.
Answered by David Gauke
HM TREASURY
HMT Ref : 3522N 13/14 ANSWERED ON 10 APRIL 2014
Chuka Umunna MP
STREATHAM
To ask Mr Chancellor of the exchequer, to how many businesses the letter from the Prime Minister to them about the employment allowance was sent to; what criteria was used to select those businesses; and where the addresses and other details of the businesses to which the letter was sent were obtained. 195622
HMT Ref : 3524N 13/14
Chuka Umunna MP
LAB - STREATHAM
To ask Mr Chancellor of the Exchequer, what the total cost to the public purse was of the letter sent to businesses by the Prime Minister on the employment allowance. 195623
HMT Ref : 3525N 13/14
The Rt Hon Jack Straw MP
LAB - BLACKBURN
To ask Mr Chancellor of the Exchequer, how many copies of the Prime Minister's recent letter concerning new tax cuts for businesses and charities were printed and at what cost; what the total cost was of printing distribution and postage in respect of these letters; and from which vote this expenditure will be taken. (195468)
HMT Ref : 3526N 13/14
The Rt Hon Jack Straw MP
CON - TONBRIDGE & MALLING
To ask Mr Chancellor of the Exchequer, whether, on previous occasion the Prime Minister of the day has written to taxpayer about new tax cuts; at what cost; and if he will place copies of such correspondence in the Library. (195469)
HMT Ref : 3527N 13/14
Emily Thornberry MP
LAB - ISLINGTON SOUTH & FINSBURY
To ask Mr Chancellor of the Exchequer, where the Prime Minister's Office obtained contact details of the businesses and charities to whom he sent a letter about changes to national insurance contributions which took effect from 6 April 2014. (195627)
HMT Ref : 3528N 13/14
Emily Thornberry MP
LAB - ISLINGTON SOUTH & FINSBURY
To ask Mr Chancellor of the Exchequer, whether the Prime Minister's Office used any private companies to distribute to businesses and charities the letter he signed about changes to national insurance contributions which took effect from 6 April 2014. (195628)
HMT Ref : 3529N 13/14
Emily Thornberry MP
LAB - ISLINGTON SOUTH & FINSBURY
To ask Mr Chancellor of the Exchequer, what the cost was of sending businesses and charities the letter the Prime Minister signed about changes to National Insurance contributions which took effect from 6 April 2014. (195629)
DAVID GAUKE
The Employment Allowance was introduced to promote both growth and employment, particularly among small businesses, and its success is heavily dependent on ensuring that businesses know whether they are eligible, which they can check by visiting https://www.gov.uk/employment-allowance. It is estimated to benefit UK employers by approximately £1.25bn for employers in 14/15.
The Prime Minister's letter was distributed by HMRC and its contractors and targeted c1.7m current and potential employers most likely to benefit from the allowance.
It cost approximately £430,000 including the cost of postage, which equates to 25 pence per letter and its distribution is consistent with the Government's wider awareness raising campaign ensuring that employers are aware of the allowance and check their eligibility.