Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of the number of people paying Class 4 National Insurance Contributions in (a) Aberdeen South and (b) Scotland.
Answered by Jane Ellison
In Scotland, we estimate there are 55,000 individuals paying class 4 National Insurance contributions. 2,100 are in Aberdeen South.
These estimates are based on the 2014-15 Survey of Personal Incomes.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what progress has been made on the delivery of loan guarantees to companies operating in the oil and gas sector.
Answered by David Gauke
The Government is willing to consider proposals for using the UK Guarantees Scheme for infrastructure where it could help secure new investment in assets of strategic importance to maximising economic recovery of oil and gas.
Any proposals would also need to meet the existing criteria of the scheme, including in relation to commerciality and financial credibility. For commercial reasons, the Government cannot provide an ongoing commentary on any discussions in this area.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will estimate the expected tax yield from oil and gas in the next financial year as a result of the recent increase in the price of oil.
Answered by Jane Ellison
The forecasted Exchequer revenues (Offshore Corporation Tax and Petroleum Revenue Tax) arising from the production and extraction of North Sea oil and gas from the UK and UK Continental Shelf are presented in Table 4.6 of the Office for Budget Responsibility’s (OBR) Economic and Fiscal Outlook: November 2016, which is available at: http://cdn.budgetresponsibility.org.uk/Nov2016EFO.pdf
The OBR will be publishing updated forecasts on 8th March 2017.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of fiscal changes made in the Budget 2016 on levels of employment in the UK oil and gas sector.
Answered by Jane Ellison
The Office for Budget Responsibility’s Economic and Fiscal Outlook (November 2016) includes the latest forecasts for oil and gas. The November Outlook indicates a downward trend in planned capital expenditure in the oil and gas sector, from £10.1 billion in 2016 to £3.7 billion in 2021. This reflects a lower oil price and its consequential effect on overall production.
The Government has taken unprecedented action to support jobs, investment and activity in the UK and UK Continental Shelf. Budget 2016 announced a £1 billion package of fiscal reform, supporting the industry through the challenging commercial conditions caused by the steep fall in oil prices. Lower tax rates will improve the economics of new investment and future discoveries. The basin-wide Investment Allowance, introduced in 2015, further reduces the effective rate of tax for many companies, including at the exploration stage.
As a result of these changes, the UK now has one of the most competitive tax regimes for oil and gas in the world, supporting jobs and investment.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what steps he is taking to boost oil and gas exploration in the UK continental shelf.
Answered by Jane Ellison
The Office for Budget Responsibility’s Economic and Fiscal Outlook (November 2016) includes the latest forecasts for oil and gas. The November Outlook indicates a downward trend in planned capital expenditure in the oil and gas sector, from £10.1 billion in 2016 to £3.7 billion in 2021. This reflects a lower oil price and its consequential effect on overall production.
The Government has taken unprecedented action to support jobs, investment and activity in the UK and UK Continental Shelf. Budget 2016 announced a £1 billion package of fiscal reform, supporting the industry through the challenging commercial conditions caused by the steep fall in oil prices. Lower tax rates will improve the economics of new investment and future discoveries. The basin-wide Investment Allowance, introduced in 2015, further reduces the effective rate of tax for many companies, including at the exploration stage.
As a result of these changes, the UK now has one of the most competitive tax regimes for oil and gas in the world, supporting jobs and investment.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of fiscal changes made in the Budget 2016 on exploration in the oil and gas sector.
Answered by Jane Ellison
The Office for Budget Responsibility’s Economic and Fiscal Outlook (November 2016) includes the latest forecasts for oil and gas. The November Outlook indicates a downward trend in planned capital expenditure in the oil and gas sector, from £10.1 billion in 2016 to £3.7 billion in 2021. This reflects a lower oil price and its consequential effect on overall production.
The Government has taken unprecedented action to support jobs, investment and activity in the UK and UK Continental Shelf. Budget 2016 announced a £1 billion package of fiscal reform, supporting the industry through the challenging commercial conditions caused by the steep fall in oil prices. Lower tax rates will improve the economics of new investment and future discoveries. The basin-wide Investment Allowance, introduced in 2015, further reduces the effective rate of tax for many companies, including at the exploration stage.
As a result of these changes, the UK now has one of the most competitive tax regimes for oil and gas in the world, supporting jobs and investment.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of fiscal changes made in the Budget 2016 on capital investment in the oil and gas sector.
Answered by Jane Ellison
The Office for Budget Responsibility’s Economic and Fiscal Outlook (November 2016) includes the latest forecasts for oil and gas. The November Outlook indicates a downward trend in planned capital expenditure in the oil and gas sector, from £10.1 billion in 2016 to £3.7 billion in 2021. This reflects a lower oil price and its consequential effect on overall production.
The Government has taken unprecedented action to support jobs, investment and activity in the UK and UK Continental Shelf. Budget 2016 announced a £1 billion package of fiscal reform, supporting the industry through the challenging commercial conditions caused by the steep fall in oil prices. Lower tax rates will improve the economics of new investment and future discoveries. The basin-wide Investment Allowance, introduced in 2015, further reduces the effective rate of tax for many companies, including at the exploration stage.
As a result of these changes, the UK now has one of the most competitive tax regimes for oil and gas in the world, supporting jobs and investment.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of sums to be accrued to the public purse from the apprenticeship levy on public sector bodies in each of the next three years.
Answered by Jane Ellison
The apprenticeship levy, will be a charge on all employers across the UK who have a paybill greater than £3 million. It is forecast to yield £2.6 billion in 2017-18, £2.7 billion in 2018-19 and £2.8 billion in 2019-20.
In 2016, the then Chancellor, in a letter to the Treasury Select Committee, set out an estimate of the impact of the apprenticeship levy on public sector bodies. This was published at: https://www.gov.uk/government/publications/letter-from-chancellor-to-chairman-of-treasury-select-committee-on-the-apprenticeship-levy.
Sub-national forecasts of the contribution made by public bodies and NHS trusts have not been made. The Scottish Government and the other devovled administrations will each receive a population share of the apprenticeship levy forecast as set out here: https://www.gov.uk/government/news/uk-government-agrees-apprenticeship-levy-funding-deal-with-devolved-administrations.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of the sums to be accrued to the public purse from the apprenticeship levy on NHS trusts in each nation of the UK in each of the next three years.
Answered by Jane Ellison
The apprenticeship levy, will be a charge on all employers across the UK who have a paybill greater than £3 million. It is forecast to yield £2.6 billion in 2017-18, £2.7 billion in 2018-19 and £2.8 billion in 2019-20.
In 2016, the then Chancellor, in a letter to the Treasury Select Committee, set out an estimate of the impact of the apprenticeship levy on public sector bodies. This was published at: https://www.gov.uk/government/publications/letter-from-chancellor-to-chairman-of-treasury-select-committee-on-the-apprenticeship-levy.
Sub-national forecasts of the contribution made by public bodies and NHS trusts have not been made. The Scottish Government and the other devovled administrations will each receive a population share of the apprenticeship levy forecast as set out here: https://www.gov.uk/government/news/uk-government-agrees-apprenticeship-levy-funding-deal-with-devolved-administrations.
Asked by: Callum McCaig (Scottish National Party - Aberdeen South)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate he has made of sums to be accrued to the public purse from the apprenticeship levy on local authorities in each nation of the UK in each of the next three years.
Answered by Jane Ellison
The apprenticeship levy, will be a charge on all employers across the UK who have a paybill greater than £3 million. It is forecast to yield £2.6 billion in 2017-18, £2.7 billion in 2018-19 and £2.8 billion in 2019-20.
In 2016, the then Chancellor, in a letter to the Treasury Select Committee, set out an estimate of the impact of the apprenticeship levy on public sector bodies. This was published at: https://www.gov.uk/government/publications/letter-from-chancellor-to-chairman-of-treasury-select-committee-on-the-apprenticeship-levy.
Sub-national forecasts of the contribution made by public bodies and NHS trusts have not been made. The Scottish Government and the other devovled administrations will each receive a population share of the apprenticeship levy forecast as set out here: https://www.gov.uk/government/news/uk-government-agrees-apprenticeship-levy-funding-deal-with-devolved-administrations.