Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Written Statement of 17 December 2020 HCWS678, whether the Government compensation scheme for London Capital and Finance plc bondholders will be available to all bondholders with no restrictions on the size or the timing of their investment.
Answered by John Glen
In my Written Ministerial Statement on 17 December 2020, I outlined the three main channels through which London Capital & Finance plc (LCF) bondholders can seek compensation. These are the administration process, the Financial Services Compensation Scheme (FSCS), and the Financial Conduct Authority’s (FCA) Complaints Scheme.
My statement also announced that, taking into consideration the specific and complex set of circumstances surrounding the collapse of LCF, the Treasury will set up a compensation scheme which will assess whether there is justification for further one-off compensation payments in certain circumstances for some LCF bondholders . The Government will announce further details in due course.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending the Self-Employment Income Support Scheme to freelance performers and musicians under the measures announced in the Winter Economy Plan.
Answered by Jesse Norman - Shadow Leader of the House of Commons
The Self-Employment Income Support Scheme (SEISS) has provided and will continue to provide support to the self-employed, including freelance performers and musicians who meet the eligibility criteria. The third grant, combined with up to £14,070 worth of support for each individual from the first and second grants, makes the SEISS one of the most generous schemes for the self-employed in the world.
The third grant will be available to self-employed individuals who have been affected by reduced demand or have been unable to trade due to COVID-19, which they believe will lead to a significant reduction in their trading profits. This will ensure that support is targeted at those who most need it.
The SEISS continues to be just one element of a substantial package of support for the self-employed. Other elements of the package include Bounce Back loans, tax deferrals, rental support, mortgage holidays, self-isolation support payments and other business support grants.
The Government has announced a £1.57bn Culture Recovery Fund to protect the cultural sectors through the COVID-19 pandemic, in order to help to ensure a vibrant future for the cultural and creative sectors on the other side of the COVID-19 crisis. To date, £560m in grant funding has been allocated to nearly 3,000 cultural organisations in England. Organisations supported include galleries, theatres, museums, orchestras, music venues, comedy clubs and festivals. This funding will help to enable performances to restart, protect jobs and create opportunities for freelancers. Further allocations will be announced in the coming weeks.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of potential merits of introducing the Directors Income Support Scheme.
Answered by Jesse Norman - Shadow Leader of the House of Commons
I refer the Honourable Member to the answer given on 24 November to UIN 115585.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will take steps to support jobs in the aerospace sector supply chain by establishing a long-term supply chain investment fund to recapitalise suppliers who are unable to take on new debt.
Answered by Kemi Badenoch - Leader of HM Official Opposition
I am aware of the challenging conditions facing the aerospace sector. That is why we are supporting the aerospace sector and its aviation customers with over £9 billion support through the Bank of England’s Covid Corporate Financing Facility, grants for research and development, loan guarantees and support for aerospace exports.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of extending eligibility to the extended Self-Employment Income Support Scheme to freelance performers and musicians.
Answered by Jesse Norman - Shadow Leader of the House of Commons
The forthcoming Self-Employment Income Support Scheme (SEISS) Grant Extension will help provide critical support to the self-employed, including freelance performers and musicians. The SEISS Grant Extension will support those who are currently eligible for the SEISS and are actively continuing to trade but are facing reduced demand due to COVID-19. The scheme will last for 6 months, from November 2020 to April 2021.
The extension will be in the form of two grants. The first grant will cover a three-month period from the start of November until the end of January. The second grant will then cover the subsequent three-month period from the start of February until the end of April.
Those who require further support may be able to benefit from other elements of the comprehensive package of support for individuals and businesses. This package includes Bounce Back loans, tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays, and other business support grants.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will extend the Self-Employment Income Support Scheme for self-employed people who rely on the hospitality sector for their income.
Answered by Jesse Norman - Shadow Leader of the House of Commons
The Self-Employment Income Support Scheme (SEISS) Grant Extension provides crucial support for the self-employed, including those in the hospitality sector. It is targeted at those who are currently actively trading but are facing reduced demand due to COVID-19, in order to help them continue trading in the forthcoming winter months.
The Government understands that some businesses and sectors will be affected by COVID-19 to a greater extent than others. The SEISS continues to be just one element of a comprehensive package of support for the self-employed. Those not eligible for the SEISS Grant Extension may still be eligible for other elements of the unprecedented financial support available.
The Government has temporarily increased the Universal Credit standard allowance for 2020-21 and relaxed the Minimum Income Floor for the duration of the pandemic so that where self-employed claimants' earnings have significantly fallen, their Universal Credit award will have increased to reflect their lower earnings. In addition to this, the self-employed have access to other elements of the package, including Bounce Back loans, tax deferrals, rental support, mortgage holidays, and other business support grants.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to extend the availability of the Coronavirus Job Retention Scheme to people with blood cancer who have been shielding and (a) cannot work from home and (b) have been advised to continue shielding from August 2020.
Answered by Jesse Norman - Shadow Leader of the House of Commons
The Government recognises the challenges facing those with cancer, and the current level of unprecedented support for people’s incomes is available for those who are living with cancer. This includes the Self- Employment Income Support Scheme (SEISS) and the Coronavirus Job Retention Scheme (CJRS).
The Chancellor announced on 12 May that the CJRS scheme will be extended until October.
Before 30 June, any employee could be furloughed. From 1 July, an employee can only continue to be furloughed if they have previously been furloughed for at least 3 consecutive weeks taking place any time between 1 March 2020 and 30 June.
For those required to shield after 1 August, they will receive letters/notification advising them of this, and they will continue to be eligible for Statutory Sick Pay on the basis of their shielding status.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of allowing furlough under the Coronavirus Job Retention Scheme for employees of companies which make a yearly RTI submission by using information from 2018-19.
Answered by Jesse Norman - Shadow Leader of the House of Commons
For an employee to be eligible for the CJRS they must have been notified to HMRC on a real-time information (RTI) submission on or before 19 March. Those paid annually are eligible to claim, as long as they meet the relevant conditions including being notified to HMRC on an RTI submission on or before 19 March 2020, which relates to a payment of earnings in the 2019/2020 tax year. Anyone paid annually and notified on an RTI submission after that date will not be eligible for the scheme, which puts them in the same position as those who are paid more frequently and were not notified to HMRC on or before 19 March. The 19 March date allows as many people as possible to be included by going right up to the day before the announcement and mitigates the risk of fraud that existed as soon as the scheme became public.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has plans to extend the Self-Employment Income Support Scheme to people whose self-employed profits are less than 50 per cent of their income.
Answered by Jesse Norman - Shadow Leader of the House of Commons
The Self-Employment Income Support Scheme (SEISS) is only available to those whose trading profit makes up 50% or more of their total income, as the SEISS aims to provide financial support to those who rely on self-employment as their main source of income. Many individuals earn small amounts of income from self-employment in addition to income from employment and other sources. These individuals may benefit from other policies such as the Coronavirus Job Retention Scheme.
Individuals may have access to a range of grants and loans depending on their circumstances, and the SEISS supplements the significant support already announced for UK businesses, including the Coronavirus Business Interruption Loan Scheme and the deferral of tax payments. More information about the full range of business support measures is available at www.businesssupport.gov.uk/coronavirus-business-support/.
Asked by: Angela Crawley (Scottish National Party - Lanark and Hamilton East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has plans to extend the duration of the Self-Employment Income Support Scheme.
Answered by Jesse Norman - Shadow Leader of the House of Commons
The UK has one of the most generous self-employed COVID-19 support schemes in the world. The Self-Employment Income Support Scheme opened on 13 May, ahead of schedule, and it provides support worth up to £7,500 each to millions of individuals. Recipients will have the grants in their bank accounts within six working days of making an application.
The Chancellor indicated that the Self-Employment Income Support Scheme would be temporary when he announced it at the end of March, and that it could be extended if necessary. The Government is keeping this under review.
As the economy re-opens, the Government will consider how to adjust support in a way that ensures people can get back to work, protecting both the UK economy and livelihoods.