Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of bringing forward legislative proposals to ensure that no creditor can sue for more than they would have got if they had taken part in (a) the Common Framework for debt restructuring and (b) any other internationally agreed debt restructuring the Government is party to.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The UK, alongside the G20 and Paris Club, expects creditors, including private creditors, to participate in debt restructurings on comparable terms. This is a fundamental principle of the G20 Common Framework.
At this stage, the Government is not pursuing a legislative approach that would force private or other lenders to participate in debt restructurings. The Government is focused on delivering a market-based (contractual) approach to private sector participation, including taking the lead in developing Majority Voting Provisions for private syndicated loans. These promote more efficient restructurings and reduce the ability for creditors to hold out.
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, for what reason the UK Permanent Representative at the United Nations voted against the resolution proposed by the Africa Group entitled Promotion of inclusive and effective international cooperation on tax matters at the United Nations; and whether the Government plans to support the development of a new UN Framework Convention on International Tax Cooperation following the adoption of that resolution.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The UK strongly supports developing countries’ efforts to scale-up domestic resource mobilisation to finance sustainable development.
The International Development White Paper published on Monday 20th November commits to building a stronger and fairer international tax system for all.
However, the UK, alongside many other countries, is concerned that proceeding with a UN convention on international tax at this time would not be the most effective way to achieve these goals. An Explanation of vote was published on GOV.UK on 22 November: https://www.gov.uk/government/speeches/the-uk-is-committed-to-building-a-fairer-international-tax-system-for-all-uk-statement-at-the-un-second-committee.
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 September 2023 to Question 197911 on Prison Officers: Pensions, what recent assessment he has made of the potential merits of reducing the pension age of prison officers to 60.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The Government values hardworking prison officers and has recently accepted the recommendations of the Prison Service Pay Review Body (PSPRB) for 2023/24 in full. Normal Pension Age in the civil service alpha scheme is set at a member’s State Pension age, and the Government notes the concerns raised in this regard by workforce representatives.
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of levying a higher rate of Air Passenger Duty on private jet flights.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
As with all taxes, the Government keeps APD under review and any changes are announced by the Chancellor at fiscal events.
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the potential effect of increases in rent on the rate of inflation.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
Information on inflation in actual rentals for housing and its weight within the Consumer Prices Index can be found online at the following link: https://www.ons.gov.uk/economy/inflationandpriceindices/datasets/consumerpriceinflation/current.
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of introducing polluter pays’ taxes and levies to fund climate projects.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
The UK Government has a range of climate taxes and levies that apply the polluter pays principle. Among others, these include the two main carbon pricing policies - the Carbon Price Support and the UK Emissions Trading Scheme. Together, these policies have contributed to a significant shift in the economics of, and investment incentives for, renewable energy sources compared to coal for domestic power generation.
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will take steps to help ensure that the cost of maintaining the ATM network is not passed onto consumers.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The government recognises that while the transition towards digital payments brings many opportunities, cash continues to be used by many people across the UK, including those who may be in vulnerable groups.
The government is currently legislating to protect access to cash across the UK as part of the Financial Services and Markets Bill 2022. The Bill establishes the Financial Conduct Authority (FCA) as the lead regulator for access to cash with responsibility and powers to seek to ensure reasonable provision of withdrawal and deposit facilities.
With regards to the ATM network, LINK (the scheme that runs the UK's largest ATM network) has made commitments to protect the broad geographic spread of free-to-use ATMs and is held to account against these commitments by the Payment Systems Regulator. According to LINK data for February 2023, there were 39,500 free-to-use ATMs across the UK. Further information is available at: https://www.link.co.uk/initiatives/financial-inclusion-monthly-report/
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment his Department has made of the trends in the number of free-to-use ATMs in (a) Liverpool, Walton constituency and (b) England.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The government recognises that while the transition towards digital payments brings many opportunities, cash continues to be used by many people across the UK, including those who may be in vulnerable groups.
The government is currently taking legislation to protect access to cash across the UK through Parliament as part of the Financial Services and Markets Bill 2022. The legislation will establish the Financial Conduct Authority (FCA) as the lead regulator for access to cash with responsibility and powers to seek to ensure reasonable provision of withdrawal and deposit facilities. The FCA will consult on its regulatory approach in due course.
With regards to the provision of free-to-use ATMs, LINK (the scheme that runs the UK's largest ATM network) has made commitments to protect the broad geographic spread of free-to-use ATMs and is held to account against these commitments by the Payment Systems Regulator.
LINK publishes a Monthly ATM Footprint Report and information on the number of ATMs by constituency. According to LINK data for February 2023, there were over 31,000 free-to-use ATMs in England, including 67 free-to-use ATMs in the constituency of Liverpool, Walton. Further information is available at: https://www.link.co.uk/initiatives/financial-inclusion-monthly-report/
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps the Government is taking to help protect free access to cash.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The government recognises that while the transition towards digital payments brings many opportunities, cash continues to be used by many people across the UK, including those who may be in vulnerable groups.
The government is currently taking legislation to protect access to cash across the UK through Parliament as part of the Financial Services and Markets Bill 2022. The legislation will establish the Financial Conduct Authority (FCA) as the lead regulator for access to cash with responsibility and powers to seek to ensure reasonable provision of withdrawal and deposit facilities. The FCA will consult on its regulatory approach in due course.
With regards to the provision of free-to-use ATMs, LINK (the scheme that runs the UK's largest ATM network) has made commitments to protect the broad geographic spread of free-to-use ATMs and is held to account against these commitments by the Payment Systems Regulator.
LINK publishes a Monthly ATM Footprint Report and information on the number of ATMs by constituency. According to LINK data for February 2023, there were over 31,000 free-to-use ATMs in England, including 67 free-to-use ATMs in the constituency of Liverpool, Walton. Further information is available at: https://www.link.co.uk/initiatives/financial-inclusion-monthly-report/
Asked by: Dan Carden (Labour - Liverpool, Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of the Energy Profits Levy investment allowance on carbon emissions; and if he will make an assessment of the potential merits of (a) ending those tax reliefs and (b) using the funding for renewable energy projects.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
The Energy Profits Levy was introduced in May 2022 to respond to very high prices that meant oil and gas companies are benefiting from exceptional profits. At Autumn Statement 2022, the government confirmed the rate of the levy would rise by a ten percentage points to 35%. This is on top of the 40% tax rate under the permanent regime, bringing the combined headline rate of tax for the sector to 75%, one of the highest amongst comparable North Sea regimes.
The levy was designed to strike the right balance between ensuring a fair tax return for the UK from its natural resources and continuing to encourage investment in the North Sea. The investment allowance within the Energy Profits Levy encourages the oil and gas sector to reinvest its profits to support the economy, jobs, and the UK’s energy security. It is right the government has put in place investment incentives to encourage activity to remain in the UK. Abolishing these would be counterproductive: the UK is still reliant on gas for its energy supply; reducing incentives to invest would lead to investors pulling out of the UK, damaging the economy, causing job losses and leading to future lower tax revenue.