Asked by: Austin Mitchell (Labour - Great Grimsby)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what representations he has received from (a) the EU Commission and (b) other EU Member States on the patent box legislation.
Answered by David Gauke
The UK is fully engaged with EU Commission and other EU Member States through the work of the EU Code of Conduct Group in their work on the UK Patent Box.
I refer the Hon Gentleman to the joint statement on 11 November 2014 agreed by the UK and Germany on the international governance of preferential IP regimes including the UK Patent Box. Parliament was informed of this in a Written Ministerial Statement delivered on 2nd December 2014. This proposal has been submitted to, and subsequently endorsed by, the EU Code of Conduct Group along with the OECD Forum on Harmful Tax Practices.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will introduce legislation to make partners from accountancy firms ineligible for HM Treasury appointments if a tax tribunal or court finds that tax avoidance schemes marketed by such firms are unlawful.
Answered by David Gauke
All senior staff are appointed in line with the public appointments code.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the notional value of derivatives held by banks regulated by the UK authorities is; and what information his Department holds on the maturity and exposure of such derivatives.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
HM Treasury does not preserve specific information relating to the value, maturity or exposure of derivatives. Aggregate data on the derivative positions of UK banks is collected every quarter and made publicly available online by the Bank of England. The specific balance sheet position on derivatives for each bank will be published regularly in their annual report to shareholders.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the derivatives exposure is of each bank regulated by the UK authorities.
Answered by Andrea Leadsom - Parliamentary Under-Secretary (Department of Health and Social Care)
HM Treasury does not preserve specific information relating to the value, maturity or exposure of derivatives. Aggregate data on the derivative positions of UK banks is collected every quarter and made publicly available online by the Bank of England. The specific balance sheet position on derivatives for each bank will be published regularly in their annual report to shareholders.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, how many companies have applied the lower rate of corporation tax associated with patent box legislation.
Answered by David Gauke
The patent box was introduced in April 2013 and companies have up to two years from the end of their accounting period to elect into the regime. The first complete set of data will therefore not be available before end April 2016.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the value of tax reductions for companies under the patent box legislation has been since April 2013.
Answered by David Gauke
The patent box was introduced in April 2013 and companies have up to two years from the end of their accounting period to elect into the regime. The first complete set of data will therefore not be available before end April 2016.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the capital value is of each PFI contract formed since the inception of that policy; and what amount the Government is contracted to repay in each such case.
Answered by Danny Alexander
A spreadsheet containing data on all operational PFI projects can be found on the following link, www.gov.uk/government/publications/private-finance-initiative-projects-2014-summary-data.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question
To ask the Secretary of State for Business, Innovation and Skills, when the Galileo satellite navigation system will be available in the UK; and whether that system will be provided free to the end user.
Answered by Greg Clark
The European Commission, as the Galileo Programme Manager, is expected to issue a revised launch timetable shortly, this will inform the timetable for the provision of services.
The system is designed to provide four different services under Full Operational Capability (FOC). One of these, the ‘Open Service’ will be free of charge to the end user.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question
To ask the Secretary of State for Business, Innovation and Skills, what recent progress has been made on the Galileo satellite navigation system project.
Answered by Greg Clark
In 2014, two new EU Regulations came into force: the Galileo Regulation (EU 1285/2013), and the amending GSA Regulation (EU 512/2014). These set out further detail on governance and programme delivery.
The European Commission will issue a revised launch schedule shortly, following the full inquiry into the launch anomaly that occurred on 22 August 2014.
Asked by: Austin Mitchell (Labour - Great Grimsby)
Question
To ask the Secretary of State for Business, Innovation and Skills, what the UK's total contribution to the cost of the Galileo satellite navigation system project will be.
Answered by Greg Clark
I refer the hon. Member to the answer given by my Rt Hon Friend the Member for Havant (David Willetts) on 22 January 2014, Official Report, column 213W regarding the cost of the Galileo and EGNOS satellite navigation programmes.