Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an estimate of the potential impact on the economy of raising the threshold of Rural Rates Relief above the rateable value of (a) £8,500 for (i) village general stores, (ii) food shops and (iii) post offices and (b) £12,500 for (A) public houses and (B) petrol stations.
Answered by James Murray - Chief Secretary to the Treasury
Rural Rate Relief aims to ensure that key amenities are available, and community assets protected in rural areas. It provides 100% rate relief for properties that are based in eligible rural areas with populations below 3,000. To be eligible, the business must also be: the only village general store, food shop or post office, with a rateable value of up to £8,500; or the only public house or petrol station, with a rateable value of up to £12,500.
The government is committed to creating a fairer business rates system that protects the high-street, supports investment, and is fit for the 21st century. At Autumn Budget 2024, the government published a discussion paper which sets out priority areas for further reform and invites stakeholders to a conversation about transforming the system over the Parliament.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make it her policy to not raise alcohol duty.
Answered by James Murray - Chief Secretary to the Treasury
Pubs and breweries make an enormous contribution to our economy and society, and this is recognised in the tax system.
The current alcohol duty system supports pubs and breweries through Draught Relief, which ensures eligible products served on draught pay less duty. Draught Relief helps to level the playing field between pubs and supermarkets, allowing pubs and brewers to price their on-trade products more competitively.
The Government is closely monitoring the impact of the recent reforms and rates that took effect on 1 August 2023. As with all taxes, the Government keeps the alcohol duty system under review during its Budget process.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to protect pubs.
Answered by James Murray - Chief Secretary to the Treasury
Pubs and breweries make an enormous contribution to our economy and society, and this is recognised in the tax system.
The current alcohol duty system supports pubs and breweries through Draught Relief, which ensures eligible products served on draught pay less duty. Draught Relief helps to level the playing field between pubs and supermarkets, allowing pubs and brewers to price their on-trade products more competitively.
The Government is closely monitoring the impact of the recent reforms and rates that took effect on 1 August 2023. As with all taxes, the Government keeps the alcohol duty system under review during its Budget process.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the implications for her policies on alcohol duty of the potential impact of having access to a (a) pub and (b) other community third space on mental health.
Answered by James Murray - Chief Secretary to the Treasury
Pubs and breweries make an enormous contribution to our economy and society, and this is recognised in the tax system.
The current alcohol duty system supports pubs and breweries through Draught Relief, which ensures eligible products served on draught pay less duty. Draught Relief helps to level the playing field between pubs and supermarkets, allowing pubs and brewers to price their on-trade products more competitively.
The Government is closely monitoring the impact of the recent reforms and rates that took effect on 1 August 2023. As with all taxes, the Government keeps the alcohol duty system under review during its Budget process.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of introducing an alcohol duty (a) exemption and (b) reduction for drinks that have a 15% or weaker alcohol by volume on community third places.
Answered by James Murray - Chief Secretary to the Treasury
Pubs and breweries make an enormous contribution to our economy and society, and this is recognised in the tax system.
The current alcohol duty system supports pubs and breweries through Draught Relief, which ensures eligible products served on draught pay less duty. Draught Relief helps to level the playing field between pubs and supermarkets, allowing pubs and brewers to price their on-trade products more competitively.
The Government is closely monitoring the impact of the recent reforms and rates that took effect on 1 August 2023. As with all taxes, the Government keeps the alcohol duty system under review during its Budget process.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report by Offshore Energies UK entitled Impact of UKCS fiscal policy on UK economic growth, published on 2 September 2024, if she will make an assessment of the potential impact of (a) increasing the headline rate of the Energy Profits Levy to 78%, (b) extending the Energy Profits Levy for a year and (c) removing all allowances associated with the Energy Profits Levy on (i) demand for supply chain companies and (ii) business decisions on the location of (A) resource capability and (B) assets in that sector.
Answered by James Murray - Chief Secretary to the Treasury
In July, the government confirmed changes to the Energy Profits Levy (EPL), including extending the levy’s end date to March 2030, increasing it by three percentage points to 38%, removing the levy’s main 29% investment allowance, and reducing the generosity of capital allowances when calculating profits taxable by the EPL. The government will confirm further details of these changes at Budget on October 30, including the rate of the EPL’s decarbonisation investment allowance, which has been retained. We are currently consulting with the sector to finalise these changes and ensure a phased and responsible transition for the North Sea.
Money raised from these changes will support the transition to clean energy, increasing security and independence while providing sustainable jobs for the future and helping to protect electricity bills against future price shocks. Full costings certified by the Office for Budget Responsibility (OBR) will be published at Budget on October 30. Forecasts for investment in the sector will also be published by the OBR at this time, and will take into account policy decisions impacting the production of oil and gas across the UK and UK Continental Shelf.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report by Offshore Energies UK entitled Impact of UKCS fiscal policy on UK economic growth, published on 2 September 2024, if she will make an assessment of the potential impact of (a) increasing the headline rate of the Energy Profits Levy to 78%, (b) extending the Energy Profits Levy for a year and (c) removing all allowances associated with the Energy Profits Levy on the (i) level of employment and (ii) number of projects that will start in the period to 2029.
Answered by James Murray - Chief Secretary to the Treasury
In July, the government confirmed changes to the Energy Profits Levy (EPL), including extending the levy’s end date to March 2030, increasing it by three percentage points to 38%, removing the levy’s main 29% investment allowance, and reducing the generosity of capital allowances when calculating profits taxable by the EPL. The government will confirm further details of these changes at Budget on October 30, including the rate of the EPL’s decarbonisation investment allowance, which has been retained. We are currently consulting with the sector to finalise these changes and ensure a phased and responsible transition for the North Sea.
Money raised from these changes will support the transition to clean energy, increasing security and independence while providing sustainable jobs for the future and helping to protect electricity bills against future price shocks. Full costings certified by the Office for Budget Responsibility (OBR) will be published at Budget on October 30. Forecasts for investment in the sector will also be published by the OBR at this time, and will take into account policy decisions impacting the production of oil and gas across the UK and UK Continental Shelf.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report by Offshore Energies UK entitled Impact of UKCS fiscal policy on UK economic growth, published on 2 September 2024, if she will make an assessment of the potential impact of (a) increasing the headline rate of the Energy Profits Levy to 78%, (b) extending the Energy Profits Levy for a year and (c) removing all allowances associated with the Energy Profits Levy on the level of capital investment on the UK continental shelf in the period between 2025 and 2029.
Answered by James Murray - Chief Secretary to the Treasury
In July, the government confirmed changes to the Energy Profits Levy (EPL), including extending the levy’s end date to March 2030, increasing it by three percentage points to 38%, removing the levy’s main 29% investment allowance, and reducing the generosity of capital allowances when calculating profits taxable by the EPL. The government will confirm further details of these changes at Budget on October 30, including the rate of the EPL’s decarbonisation investment allowance, which has been retained. We are currently consulting with the sector to finalise these changes and ensure a phased and responsible transition for the North Sea.
Money raised from these changes will support the transition to clean energy, increasing security and independence while providing sustainable jobs for the future and helping to protect electricity bills against future price shocks. Full costings certified by the Office for Budget Responsibility (OBR) will be published at Budget on October 30. Forecasts for investment in the sector will also be published by the OBR at this time, and will take into account policy decisions impacting the production of oil and gas across the UK and UK Continental Shelf.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the report by Offshore Energies UK entitled Impact of UKCS fiscal policy on UK economic growth, published on 2 September 2024, if she will make an assessment of the potential impact of (a) increasing the headline rate of the Energy Profits Levy to 78%, (b) extending the Energy Profits Levy for a year and (c) removing all allowances associated with the Energy Profits Levy on the total economic value of the sector in the period between 2025 and 2029.
Answered by James Murray - Chief Secretary to the Treasury
In July, the government confirmed changes to the Energy Profits Levy (EPL), including extending the levy’s end date to March 2030, increasing it by three percentage points to 38%, removing the levy’s main 29% investment allowance, and reducing the generosity of capital allowances when calculating profits taxable by the EPL. The government will confirm further details of these changes at Budget on October 30, including the rate of the EPL’s decarbonisation investment allowance, which has been retained. We are currently consulting with the sector to finalise these changes and ensure a phased and responsible transition for the North Sea.
Money raised from these changes will support the transition to clean energy, increasing security and independence while providing sustainable jobs for the future and helping to protect electricity bills against future price shocks. Full costings certified by the Office for Budget Responsibility (OBR) will be published at Budget on October 30. Forecasts for investment in the sector will also be published by the OBR at this time, and will take into account policy decisions impacting the production of oil and gas across the UK and UK Continental Shelf.
Asked by: Andrew Bowie (Conservative - West Aberdeenshire and Kincardine)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what her planned timetable is for increasing the rate at which the Energy Profits Levy is charged.
Answered by James Murray - Chief Secretary to the Treasury
Changes to the Energy Profits Levy (EPL), including increasing the levy by 3 per cent to 38 per cent and removing the levy’s 29% investment allowance, will be implemented from 1 November 2024. This was announced by the Chancellor on 29th July and the Government will legislate for these changes in the Autumn Finance Bill.