Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the higher business rates multiplier for large premises on (a) the price of essential goods, (b) shop closures, (c) regional job losses, and (d) footfall in town centres in Surrey Heath constituency.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.
As set out at Autumn Budget 2024, the Government will introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with ratable values (RVs) below £500,000 from 2026-27. This permanent tax cut will ensure they benefit from much-needed certainty and support.
This tax cut must be sustainably funded, and so the Government will introduce a higher rate on the most valuable properties in 2026/27 - those with RVs of £500,000 and above. These represent less than one per cent of all properties, but cover the majority of large distribution warehouses, including those used by online giants.
The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes and broader economic and fiscal context into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of HMRC’s loan charge repayment policies on people in Surrey Heath constituency.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government commissioned an independent review of the loan charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers. The Government will respond by Autumn Budget 2025.
The Government recognises the concerns raised about the loan charge. The independent review examined the barriers that prevent those people subject to the loan charge from reaching resolution with HMRC.
HMRC continues to provide support for those affected, with agreed manageable payment plans and a well-established Extra Support Service. It has guidance and training in place for all customer advisors or settlement teams on identifying taxpayers who need extra support and providing reasonable adjustments to meet their needs.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has conducted an impact assessment of the reduction of stamp duty thresholds on homeowners in Surrey Heath constituency.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
No assessment has been made of the impact at individual constituency level.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of exempting not-for-profit organisations from business rates in Surrey Heath constituency.
Answered by James Murray - Chief Secretary to the Treasury
Currently, properties which are wholly or mainly used for charitable purposes are eligible for charitable relief, which provides businesses with up to 80% off their business rates bills. Provision of further relief to charitable properties is at the discretion of local authorities.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of increases to employer's National Insurance contributions on the (a) hospitality and (b) leisure sectors in Surrey Heath constituency.
Answered by James Murray - Chief Secretary to the Treasury
A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer 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.
Estimates of the impact on businesses in Surrey Heath from changes to employer NICs announced at Autumn Budget 2024 are not available.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment she has made of the impact of bank branch closures on local (a) residents and (b) businesses in market towns in Surrey Heath constituency.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government understands the importance of face-to-face banking to communities, high streets and market towns in Surrey Heath and across the UK, and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with banks to roll out 350 banking hubs, which will provide local residents and businesses up and down the country with critical cash and banking services. Over 220 banking hubs have been announced so far, and over 135 are already open.
Banking has changed significantly in recent years with many customers benefitting from the ease and convenience of remote banking. While branch closures are commercial decisions for banks and building societies, FCA guidance expects firms to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and put in place alternatives where reasonable. This seeks to ensure that branch closures are implemented in a way that treats customers fairly.
Alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking and via the Post Office. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to take steps to help support older people to use self-checkout kiosks in banks in Surrey Heath constituency.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
Banking has changed significantly in recent years with many customers benefitting from the ease and convenience of remote banking. The Government understands the importance of face-to-face banking to communities and high streets in Surrey Heath and across the UK, and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this Parliament. Over 220 hubs have been announced so far, and over 135 are already open.
The Financial Conduct Authority requires firms to provide a prompt, efficient, and fair service to all of their customers. This includes special considerations for vulnerable customers, such as the elderly and disabled. Additionally, under the Equality Act 2010, banks must make reasonable adjustments to ensure their services are accessible to all.
The Department for Science, Innovation, and Technology (DSIT) has recently published a Digital Inclusion Action Plan which sets out the Government’s first steps towards our long-term objective of ensuring everyone has the access, skills, support and confidence to participate in our modern digital economy.
Alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking and via the Post Office. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she has taken to support people who have experienced long-term (a) financial difficulties and (b) mental health challenges as a result of not qualifying for financial support schemes during the COVID-19 pandemic in Surrey Heath constituency.
Answered by James Murray - Chief Secretary to the Treasury
The Government is working to support people and improve living standards for everyone across the country. As part of this, the Government committed to making no increase in employee National Insurance, Income Tax or VAT as we want to keep taxes as low as possible for working people. The Government has also put growth as its number one mission, which will help families by boosting wages and putting more money in people’s pockets.
The Budget announced a £240 million Get Britain Working package to help people into work which will help to tackle the root causes of economic inactivity and to get those who can work, off benefits and into good employment. Further details have been set out in the Get Britain Working White Paper, published on 26 November 2024.
On 1 April 2025, the new National Living Wage and National Minimum Wage rates will come into force, expecting to benefit over 3 million eligible workers. For a full-time worker on NLW, the 6.7% increase of the rate to £12.21 per hour will provide a £1,400 increase to their annual earnings. These increases will ensure that the lowest-paid workers are supported and marks a step towards the government delivering a genuine living wage for all adults.
In addition, the Government is also supporting those on low incomes through continuing the Household Support Fund, increasing the Carers’ Allowance weekly earnings limit by nearly 30% from April 2025, and creating a new Fair Repayment Rate ensuring 1.2 million households claiming Universal Credit are on average better off by £420 per year, by capping the amount of debt deductions at 15% of the standard allowance.
On mental health, the Government has continued to expand access to mental health support to address the high levels of demand since the pandemic ended. This has included increasing the mental health workforce, treating more people through NHS Talking Therapies and improving urgent and emergency mental health care though new crisis houses and alternatives to A&E as well as making support available to those experiencing a crisis through the new ‘mental health option’ on 111.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of abolishing the furnished holiday let tax regime on local (a) economies and (b) jobs.
Answered by James Murray - Chief Secretary to the Treasury
The Government will abolish the Furnished Holiday Lets (FHLs) tax regime from April 2025. This will equalise the tax treatment of FHL and non-FHL landlords’ income and gains.
The Government wants to support the visitor economy alongside housing for longer-term residents to rent or buy. Achieving this balance is crucial in supporting the tourism sector, and many of the people who work in the sector need access to local housing.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the review into the loan charge will include examining the roles of (a) scheme promoters, (b) umbrella companies and (c) tax advisers.
Answered by James Murray - Chief Secretary to the Treasury
At Autumn Budget 2024, the Government committed to an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers.
Further details about the review will be set out in due course.