Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the net inflow of (a) portfolio and (b) other investment from non-resident investors to the UK was in each quarter since Q1 2019 for which data is available.
Answered by James Murray - Chief Secretary to the Treasury
As part of their Balance of Payments release, the Office for National Statistics produce statistics on cross-border transactions and positions. This includes information on the aggregate market value of UK quoted equities held by non-resident investors, net inflows of portfolio and other investment from non-resident investors, as well as the total stock of UK corporate bonds held by non-resident investors.
The ONS published their most recent Balance of Payments release on 28 March 2025, which is available on their website at Balance of Payments, UK - Office for National Statistics. The statistics on inflows and stocks/market values can be found in Table J and in Table K respectively.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the aggregate market value of UK-quoted equities held by non-resident investors was in each quarter of the last five years for which data is available.
Answered by James Murray - Chief Secretary to the Treasury
As part of their Balance of Payments release, the Office for National Statistics produce statistics on cross-border transactions and positions. This includes information on the aggregate market value of UK quoted equities held by non-resident investors, net inflows of portfolio and other investment from non-resident investors, as well as the total stock of UK corporate bonds held by non-resident investors.
The ONS published their most recent Balance of Payments release on 28 March 2025, which is available on their website at Balance of Payments, UK - Office for National Statistics. The statistics on inflows and stocks/market values can be found in Table J and in Table K respectively.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the UK-India Free Trade Agreement, agreed on 6 May 2025, if she will make an estimate of the number of British Nationals that will use the Double Contribution Convention with India in each of the next 5 years.
Answered by James Murray - Chief Secretary to the Treasury
The OBR will certify the impact of the trade deal including the Double Contributions Convention in the usual way at a fiscal event, once the deal is finalised and ratified. The agreement to negotiate a Double Contributions Convention was made in the context of the wider deal, which will bring billions into the economy.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the potential impact of making exemptions for the payment of National Insurance contributions under the Double Contribution Convention with India on receipts from (a) employee and (b) employer National Insurance contributions in each of the next five years.
Answered by James Murray - Chief Secretary to the Treasury
The OBR will certify the impact of the trade deal including the Double Contributions Convention in the usual way at a fiscal event, once the deal is finalised and ratified. The agreement to negotiate a Double Contributions Convention was made in the context of the wider deal, which will bring billions into the economy.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when she plans to respond to the letter of 20 December 2024 from the hon. Members for Arundel and South Downs, East Surrey and Wyre Forest.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
I can confirm a response was sent on 21 February 2025 to the hon. Members for Arundel and South Downs, East Surrey, and Wyre Forest.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department offers paternity leave to its staff from their first working day.
Answered by James Murray - Chief Secretary to the Treasury
HMT staff must have worked continuously for the Civil Service for at least 26 weeks to be eligible for paternity leave.
The Employment Rights Bill will remove this requirement and staff will be entitled to paternity leave from their first working day. HMT will implement this legislative change when it comes into force.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 14 November 2024 to Question 13640 on Hospitality Industry and Retail Trade: Business Rates, when she plans to (a) begin and (b) complete the revaluation that is to produce the referenced revaluation outcomes.
Answered by James Murray - Chief Secretary to the Treasury
In 2023 the Valuation Office Agency (VOA) moved to three-yearly revaluations, an outcome from the 2021 Business Rates Review.
The VOA started preparing for the next business rates revaluation in April 2023, with the new rateable values coming into effect on 1 April 2026, with a valuation date of 1 April 2024.
The VOA are on track to deliver the 2026 Revaluation, with valuation activity now underway.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to paragraph 5.70 of the Autumn Budget 2024, HC 295, published on 30 October 2024, what assessment she has made of the potential impact of the planned reduction of the Retail, Hospitality, and Leisure relief scheme from 75% to 40% on (a) pubs, (b) other hospitality businesses and (c) small retail businesses.
Answered by James Murray - Chief Secretary to the Treasury
Without intervention by this Government, Retail, Hospitality and Leisure (RHL) relief would have ended entirely in April 2025, creating a cliff-edge for businesses. Instead, the Government has decided to offer a 40 per cent discount to RHL properties up to a cash cap of £110,0000 per business in 2025-26 and frozen the small business multiplier. This is a package worth over £1.6 billion in 2025-26, aimed at supporting the most vulnerable businesses, ensuring that over 250,000 RHL properties receive the full 40% support.
By tapering RHL relief to 40%, rather than removing it entirely, the government has saved the average pub, with a rateable value (RV) of £16,800, over £3,300 in 2025.
At Budget, the Government also announced that from 2026-27, it intends to introduce permanently lower tax rates for RHL properties, including those on the high street. This permanent tax cut will ensure that they benefit from much-needed certainty and support. The Government intends to fund this by introducing a higher multiplier on the most valuable properties, which includes the majority of large distribution warehouses, including warehouses used by online giants.
The exact rates for any new business rate multipliers will not be set until Budget 2025 so that the Government can take into account the revaluation outcomes as well as the economic and fiscal context.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department takes to verify the qualifications of newly hired officials.
Answered by James Murray - Chief Secretary to the Treasury
HM Treasury recruitment campaigns use Success Profiles which is the recruitment framework used within the Civil Service. HM Treasury consider what skills a candidate will need to demonstrate in order to be successful and advertise vacancies with a clear person specification. Candidates are assessed through a robust assessment process consisting of a review of application forms and finally an interview where the Success Profiles are explored and tested. A leadership assessment and / or a Staff Engagement Panel is included for Senior Civil Service vacancies in addition to the application form and interview. All recruitment into HM Treasury vacancies abides by the Civil Service Commission’s Recruitment Principles.
HM Treasury verify employment history of individuals against HM Revenue and Customs records. In cases where there is limited employment history, HM Treasury collect personal references.
Where an advertised role requires an essential qualification, this is included within the advert and candidates are asked to declare that they meet the qualification criteria when applying. If they do not meet the qualification criteria, they are unable to apply for the role.
Where a qualification is a prerequisite to an appointment, candidates present their original qualification certificates at interview stage to enable the department to verify their eligibility for the role.
Asked by: Andrew Griffith (Conservative - Arundel and South Downs)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department takes to verify the professional experience set out in the applications of newly hired officials.
Answered by James Murray - Chief Secretary to the Treasury
HM Treasury recruitment campaigns use Success Profiles which is the recruitment framework used within the Civil Service. HM Treasury consider what skills a candidate will need to demonstrate in order to be successful and advertise vacancies with a clear person specification. Candidates are assessed through a robust assessment process consisting of a review of application forms and finally an interview where the Success Profiles are explored and tested. A leadership assessment and / or a Staff Engagement Panel is included for Senior Civil Service vacancies in addition to the application form and interview. All recruitment into HM Treasury vacancies abides by the Civil Service Commission’s Recruitment Principles.
HM Treasury verify employment history of individuals against HM Revenue and Customs records. In cases where there is limited employment history, HM Treasury collect personal references.
Where an advertised role requires an essential qualification, this is included within the advert and candidates are asked to declare that they meet the qualification criteria when applying. If they do not meet the qualification criteria, they are unable to apply for the role.
Where a qualification is a prerequisite to an appointment, candidates present their original qualification certificates at interview stage to enable the department to verify their eligibility for the role.