Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps her department is taking to minimise barriers for international firms to invest in the UK.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Restoring sustainable, long-term economic growth remains the number one priority of this government. This is the foundation for the prosperity that families throughout the UK expect, and it is essential to creating the conditions that attract investment across sectors such advanced manufacturing, clean energy, and digital technologies.
The UK continues to champion free trade and global investment. We are supported by over 70 international trade agreements and have more than doubled the government’s budget headroom, strengthening our resilience and capacity to respond to future challenges. Our stable fiscal framework and pro‑investment tax system give international firms the confidence to invest. Consistent with the commitments set out in the 2024 Corporate Tax Roadmap, the government is maintaining the elements of the UK’s corporate tax offer that matter most for new investment:
The UK is also an attractive location for groups to locate their headquarters or holding companies, offering broad exemptions for gains on disposals of substantial shareholdings and a broad exemption for dividends paid to UK companies. There are also limited withholding taxes on outbound payments such as dividends, interest and royalties.
These measures are delivering results. We are set to be the second fastest growing economy in the G7 this year; PWC last year named the UK as the second most attractive country for investment in the world among CEOs, behind only the US and since coming into government we have seen companies from across the globe commit over £325bn worth of private investment into the UK.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps she is taking to help increase incomes of working families in North East Somerset & Hanham.
Answered by James Murray - Chief Secretary to the Treasury
On 1 April 2025, the National Living Wage (NLW) increased to £12.21 per hour for eligible workers aged 21 and over. This represents a pay rise of £1,400 per year for a full-time worker and has benefitted around 3 million low-paid workers. Living standards, as measured by Real Household Disposable Income (RHDI) per capita, are 2.1% higher than before the election. This means that the average person’s disposable income is £800 higher now than just before the election in real terms.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of increasing taxes on the gambling industry on the economy.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government makes tax policy decisions at fiscal events. If any changes are made to gambling duties at Budget, legislation will be accompanied by a Tax Information and Impact Note which will set out the expected impacts.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many small e-commerce packages passed through customs in the UK from China in 2024.
Answered by James Murray - Chief Secretary to the Treasury
Consignments imported into the UK that are valued at £135 or less are not subject to customs duty and are predominantly imported through a simplified customs declaration. As part of this, multiple goods can be bulk declared without providing the total number of consignments. Therefore, HMRC does not routinely collect customs data on the number of imports from China that are worth less than £135.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent progress she has made with the banking industry on the roll out of banking hubs in North East Somerset and Hanham constituency.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government recognises the importance of face-to-face banking to communities and high streets in North East Somerset and Hanham, and across the country.
This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this Parliament.
Over 230 hubs have been announced so far, and over 170 are already open.
The location of these hubs is determined independently by LINK, the industry coordinating body responsible for making access to cash assessments. When a cash service such as a bank branch closes, or if LINK receives a request directly from a community, LINK assesses a community’s access to cash needs. This assessment may lead to a recommendation for the establishment of a banking hub in that community.
A temporary banking hub is now open in Keynsham, while the search for a permanent location is underway.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to protect face-to-face banking services for people in North East Somerset and Hanham constituency.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government recognises the importance of face-to-face banking to communities, businesses and high streets in North East Somerset and Hanham, and across the country.
This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this Parliament.
Over 230 hubs have been announced so far, and over 160 are already open.
Banking hubs offer everyday counter services, allowing people and businesses to withdraw and deposit cash, pay bills and make balance enquiries. They also contain dedicated rooms where customers can see community bankers from their own bank to carry out wider banking services.
Alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking, and via the Post Office. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of her proposals for reducing business rates for shops, pubs and leisure businesses on SMEs in North East Somerset and Hanham constituency.
Answered by James Murray - Chief Secretary to the Treasury
From April 2026, the Government intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with rateable values below £500,000. This permanent tax cut will ensure that they benefit from much-needed certainty and support.
The rates for these new business rate multipliers will be set at Budget 2025 so that the Government can take into account the upcoming revaluation outcomes as well as the economic and fiscal context.
Ahead of these changes being made, we have prevented RHL relief from ending in April 2025 by extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and frozen the small business multiplier.
When the new multipliers are set at Budget 2025, HM Treasury intends to publish overall analysis of the effects of the new multiplier arrangements.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that people who (a) rely on cash and (b) choose to use cash can access it in North East Somerset and Hanham constituency.
Answered by James Murray - Chief Secretary to the Treasury
The Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses.
The Financial Conduct Authority (FCA) assumed regulatory responsibility for access to cash in September 2024. Its rules require the UK’s largest banks and building societies to assess the impact of a closure or material alteration of a relevant cash withdrawal or deposit facility and put in place a new service if necessary. Assessments are undertaken by LINK, the industry designated coordinating body responsible for conducting cash access assessments. LINK take into account a number of factors including those unique to each location, such as the size and vulnerability of the population and whether it is reasonable for people to travel to nearby facilities, factoring in geographic barriers such as hills, rivers and major roads.
The Government is working closely with industry to roll out 350 banking hubs across the UK by the end of this Parliament. These hubs will provide small businesses and individuals with critical cash and in-person banking services. Over 225 banking hubs have been recommended to date and over 150 are already open.
Asked by: Dan Norris (Independent - North East Somerset and Hanham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many adults who are eligible for the Child Trust Fund have not accessed their fund in North East Somerset and Hanham constituency.
Answered by James Murray - Chief Secretary to the Treasury
Information on Child Trust Funds is available in HMRC’s Annual Savings Statistics.
https://www.gov.uk/government/statistics/annual-savings-statistics-2024
HMRC does not hold information on the geographical locations of Child Trust Fund account holders, therefore the requested constituency breakdown cannot be provided.