Asked by: Alex Ballinger (Labour - Halesowen)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential merits of extending the mortgage guarantee scheme beyond 30 June 2025.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
The Government recognises the difficulties some prospective first-time buyers face in buying a home, and is committed to helping them get on the housing ladder.
We committed in our manifesto to introduce a permanent and comprehensive mortgage guarantee scheme to help buyers who struggle to save for a large deposit. At Autumn Budget 2024, the Chancellor confirmed our intention to introduce this scheme.
We will announce further details of this scheme in due course.
Asked by: Alex Ballinger (Labour - Halesowen)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of adjusting the annual limits for VCT investee companies alongside inflation.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Venture Capital Trust (VCT) Scheme was evaluated in 2022, and these evaluations were published on gov.uk: https://www.gov.uk/government/publications/evaluation-of-venture-capital-schemes.
The evaluations found that the schemes were well targeted to address the market failure which makes it difficult for early-stage, high-risk companies to secure the investment they need.
Asked by: Alex Ballinger (Labour - Halesowen)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of changing the UK VCT rules on the age limit for qualifying companies in line with EU regulations.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Venture Capital Trust (VCT) Scheme was evaluated in 2022, and these evaluations were published on gov.uk: https://www.gov.uk/government/publications/evaluation-of-venture-capital-schemes.
The evaluations found that the schemes were well targeted to address the market failure which makes it difficult for early-stage, high-risk companies to secure the investment they need.
Asked by: Alex Ballinger (Labour - Halesowen)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment she has made of the potential merits of raising taxation on gambling operators.
Answered by James Murray - Exchequer Secretary (HM Treasury)
Gambling Duties raised £3.5 billion in revenue in 2023-24.
As with all taxes, the Government keeps the gambling duty system under review during its Budget process.
Asked by: Alex Ballinger (Labour - Halesowen)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions he has had with HMRC on instructions given to debt collection agencies in the event of (a) an unresolved dispute or (b) error on a taxpayer's account.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The debt collection agencies (DCAs) that HM Revenue & Customs (HMRC) collaborates with are regulated by the Financial Conduct Authority and are strictly bound by HMRC's processes and guidance.
HMRC undertakes regular reviews, including the monitoring of calls and examination of messages, to ensure compliance with these stringent processes and guidelines.
In the event of an unresolved dispute, or an error on a taxpayer's account, the DCAs must return the taxpayer’s case to HMRC for direct handling.HMRC will then work with the taxpayer to ensure that any disputes or errors are resolved.