Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many of his Department's ministers have been exempted from quarantine in a hotel after returning to the UK from a covid-19 red list country to which they have travelled for the purposes of conducting official business.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
Ministers from HM Treasury have not claimed any exemptions from the requirement to quarantine in a managed quarantine facility that is required after returning from a red list country. HM Treasury does not hold information on exemption usage by ministers from other government departments.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when he plans to publish information on the effect on revenue to the public purse of the effect of the covid-19 outbreak on the travel sector.
Answered by Kemi Badenoch - President of the Board of Trade
The Government recognises the challenging circumstances facing the travel sector as a result of Covid-19, and firms experiencing difficulties can draw upon the unprecedented package of measures announced by the Chancellor, including schemes to raise capital, flexibilities with tax bills and the extended furlough scheme.
As set out in the Covid-19 Impact Assessment last November, the Government cannot forecast with confidence the precise impact of specific changes to restrictions, including those on the travel sector, as this will depend on a broad range of factors which are, in many cases, difficult to estimate. The Treasury does not prepare forecasts for the UK economy and public finances, these are the responsibility of the independent Office for Budget Responsibility (OBR).
The economic impacts of the Covid-19 pandemic and the unprecedented fiscal support has caused significant but necessary increase in borrowing and debt. However, borrowing costs continue to be low, making the current costs of servicing this increase in debt affordable.
The Budget will set out the next phase of the plan to tackle the virus and protect jobs.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions he has had with Cabinet colleagues on the potential merits of an aviation recovery package.
Answered by Kemi Badenoch - President of the Board of Trade
The Chancellor regularly discusses a wide range of matters related to economic recovery with Cabinet colleagues.
The Government recognises the challenging circumstances facing the aviation industry as a result of Covid-19 and firms experiencing difficulties can draw upon the unprecedented package of measures announced by the Chancellor, including schemes to raise capital and flexibilities with tax bills. In addition to economy-wide measures such as the Coronavirus Job Retention Scheme, the aerospace sector and its aviation customers are being supported with almost £11 billion made available through loan guarantees, support for exporters, the Bank of England’s Covid Corporate Financing Facility and grants for research and development. This includes £8bn of guarantees provided by UK Export Finance.
In addition, the Airport and Ground Operations Support Scheme launched on 29 January 2021 will provide support for eligible businesses, up to the equivalent of their business rates liabilities in the 2020/21 financial year, subject to certain conditions and a cap per claimant of £8m. This will help companies with their fixed costs and could unlock shareholder and lender support.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many meetings he has had with representatives of the aviation industry to discuss the planned Aviation Recovery Package.
Answered by Kemi Badenoch - President of the Board of Trade
The Chancellor speaks to industry representatives on a regular basis about a range of matters.
The Government recognises the challenging circumstances facing the aviation industry as a result of Covid-19 and firms experiencing difficulties can draw upon the unprecedented package of measures announced by the Chancellor, including schemes to raise capital and flexibilities with tax bills. In addition to economy-wide measures such as the Coronavirus Job Retention Scheme, the aerospace sector and its aviation customers are being supported with almost £11 billion made available through loan guarantees, support for exporters, the Bank of England’s Covid Corporate Financing Facility and grants for research and development. This includes £8bn of guarantees provided by UK Export Finance.
In addition, the Airport and Ground Operations Support Scheme launched on 29 January 2021 will provide support for eligible businesses, up to the equivalent of their business rates liabilities in the 2020/21 financial year, subject to certain conditions and a cap per claimant of £8m. This will help companies with their fixed costs and could unlock shareholder and lender support.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what new fiscal steps he plans to take to support the aviation sector in response to the potential economic effects of the Government’s hotel quarantine policy on that sector.
Answered by Kemi Badenoch - President of the Board of Trade
The Government recognises the challenging circumstances facing the aviation industry as a result of Covid-19 and firms experiencing difficulties can draw upon the unprecedented package of measures announced by the Chancellor, including schemes to raise capital and flexibilities with tax bills. The aerospace sector and its aviation customers are being supported with almost £11 billion made available through loan guarantees, support for exporters, the Bank of England’s Covid Corporate Financing Facility and grants for research and development. This includes £8bn of UK Export Finance Guarantees.
The Chancellor also announced on 17 December that the CJRS will be extended until April, with employees receiving 80% of their usual salary for hours not worked, up to a maximum of £2,500 per month. This will continue to protect jobs and businesses across the UK in light of recent developments in the path of the virus.
The Airport and Ground Operations Support Scheme announced on 24 November will also provide support for eligible businesses, up to the equivalent of their business rates liabilities in the 2020/21 financial year, subject to certain conditions and a cap per claimant of £8m. This is intended to help reduce cash burn and could unlock shareholder and lender support.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what investigations the Financial Conduct Authority has undertaken on the listing of Nostrum Oil and Gas on the London Stock Exchange, via the Isle of Man.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Financial Conduct Authority (FCA), as the UK’s securities regulator, oversees equity markets and is responsible for maintaining the Official List. The FCA does not normally make public the fact that it is or is not investigating a particular matter, or any of the findings or conclusions of an investigation.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the losses incurred by UK investors as a result of the collapse of the share price of Nostrum Oil and Gas.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Financial Conduct Authority (FCA), as the UK’s securities regulator, oversees equity markets and is responsible for maintaining the Official List. The FCA does not normally make public the fact that it is or is not investigating a particular matter, or any of the findings or conclusions of an investigation.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many times the Russian Ambassador to the UK met representatives of the (a) Financial Conduct Authority and (b) Financial Services Authority to discuss (i) the Alfa Group, (ii) Mikhail Fridman and (iii) other Russian, Ukrainian or Kazakh (A) business people and (B) companies in each of the last twelve years.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the right honourable member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many times senior executives of the (a) Financial Conduct Authority and (b) Financial Services Authority met representatives of a foreign government in each of the last 12 years; and for each of those meetings if he will publish the (i) location, (ii) date, (iii) agenda and (iv) identity of the participants.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
This is a matter for the Financial Conduct Authority (FCA), which is operationally independent from Government. The question has been passed on to the FCA. The FCA will reply directly to the right honourable member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Ben Bradshaw (Labour - Exeter)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what legal advice his Department has received on ending the double taxation of domestic air passenger duty if the UK leaves the EU.
Answered by Robert Jenrick
Air Passenger Duty (APD) applies to all departures from UK airports, therefore airlines are liable on both outward and return leg domestic journeys. It is not possible under current EU law to have different rates of APD on intra-UK flights than on flights from the UK to other European Union destinations. All aspects of APD remain under review, and the government will continue to receive legal advice as appropriate during policy development.