Asked by: Edward Morello (Liberal Democrat - West Dorset)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if her Department will make an assessment of the potential merits of reducing VAT for community pubs.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government recognises the significant economic contribution made by pubs as well as their importance in fostering a sense of place and community across the UK.
VAT is the UK’s second largest tax, forecast to raise £176 billion in 2024/25. Taxation is a vital source of revenue which helps to fund public services.
The Government has inherited a challenging fiscal position, with debt near 100% of GDP and borrowing more than double what it was before the pandemic. In addition to this, a Treasury audit in July 2024 revealed an additional £21.9 billion pressure on departmental spending.
As a result, the Government will have to take difficult decisions in relation to tax, spending and welfare at the budget.
Asked by: Edward Morello (Liberal Democrat - West Dorset)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an estimate of the potential impact of (a) removing and (b) amending the level of agricultural property relief on farmers in West Dorset constituency.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government keeps all taxes under review as part of the policy making process. If the Chancellor decides to make any changes to APR/BPR, this would be announced at a fiscal event.
Asked by: Edward Morello (Liberal Democrat - West Dorset)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether it is her policy to retain (a) agricultural property relief and (b) business property relief.
Answered by James Murray - Exchequer Secretary (HM Treasury)
The Government keeps all taxes under review as part of the policy making process. If the Chancellor decides to make any changes to APR/BPR, this would be announced at a fiscal event.