Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to renegotiate carnet provisions between the UK and EU on the movement of vehicles and parts used in motorsport.
Answered by Nigel Huddleston - Financial Secretary (HM Treasury)
The UK is committed to maintaining the option of using ATA Carnets for temporary movements of professional equipment to the EU. Carnets can be a simpler and cheaper way to move goods into and out of a customs territory temporarily, compared to submitting full customs import and export declarations and paying duties.
The EU’s Temporary Admission procedure in combination with the UK’s Returned Goods Relief offers another alternative to move items temporarily into the EU and back to the UK without paying import duties. Improved guidance on the temporary movement of goods from the UK has recently been published: https://www.gov.uk/taking-goods-out-gb-temporarily.
The Government is reviewing how we can improve the UK’s own Temporary Admission procedure and simplify processes for individuals and businesses, and has engaged with the Society of Motor Manufacturers & Traders which included representatives from Motorsport UK. HMRC and HMT are open to further discussions and any specific concerns the motorsport industry has around the options available for temporarily moving goods.
Work to digitalise ATA Carnets and their processes is currently underway as part of a World customs Organisation (WCO) and International Chamber of Commerce (ICC) initiative. The Digital Pilot was launched in February 2019, initially involving the UK and five other countries. To date the UK has successfully processed a number of e-Carnets from Heathrow and is looking to collaborate with more ports to make digital Carnets more readily available. More information is available at https://iccwbo.org/media-wall/news-speeches/icc-new-ata-carnet-app-makes-digital-declarations-and-transactions-possible/
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what information his Department holds on the value of compensation awarded under the Financial Services Compensation Scheme in each financial year since 2018-19.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The overall cost of compensation awarded by the Financial Services Compensation Scheme for the years in question can be found in its Annual Reports and Accounts, which are published here: https://www.fscs.org.uk/industry-resources/annual-report-archive/ and https://www.fscs.org.uk/news/fscs-news/annual-report/.
In 2021/22, the last year for which numbers have been published, the cost was £584 million.
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the impact of the Plastic Packaging Tax on trends in the rates of recycling for (a) flexible plastics and (b) films.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
The Plastic Packaging Tax was introduced in April 2022 to encourage businesses to include more recycled plastic in packaging. This will increase demand for recycled plastic, which will stimulate increased levels of recycling and collection of plastic waste.
The government continues to keep all taxes under review and will consider conducting an evaluation of PPT after at least one year’s worth of monitoring data has been collected.
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility's report entitled Economic and fiscal outlook, published in November 2022, whether it is Government policy to introduce a 23 per cent. increase in fuel duty in late-March 2023.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
No changes to fuel duty were made in November’s Autumn Statement.
The Government will confirm policy on fuel duty in the Budget in the Spring, as has been the case in previous years. The impact of any policy change is carefully considered.
Until then, the OBR’s forecast is prepared on the Government’s longstanding assumption that fuel duty will rise in line with inflation.
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility's report entitled Economic and fiscal outlook, published in November 2022, what assessment he has made of the impact of a potential increase in fuel duty in March 2023 on the road haulage sector.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
No changes to fuel duty were made in November’s Autumn Statement.
The Government will confirm policy on fuel duty in the Budget in the Spring, as has been the case in previous years. The impact of any policy change is carefully considered.
Until then, the OBR’s forecast is prepared on the Government’s longstanding assumption that fuel duty will rise in line with inflation.
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility's report entitled Economic and fiscal outlook, published in November 2022, what assessment he has made of the impact of a potential increase in fuel duty on the classic car sector.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
No changes to fuel duty were made in November’s Autumn Statement.
The Government will confirm policy on fuel duty in the Budget in the Spring, as has been the case in previous years. The impact of any policy change is carefully considered.
Until then, the OBR’s forecast is prepared on the Government’s longstanding assumption that fuel duty will rise in line with inflation.
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the total revenue received to HM Treasury was from VAT on sales of petrol and diesel in the calendar month of February for each of the past 10 years.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
The information is not available. HMRC does not hold information on VAT revenue from specific products or services because businesses are not required to provide figures at a product level on their VAT returns, as this would impose an excessive administrative burden.
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the total revenue received by the Exchequer from fuel duty was in each of the last five years.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
During the previous five calendar years, the following amounts of revenue have been received by HM Revenue and Customs (HMRC) from Fuel Duty (also referred to as hydrocarbon oils):
2017: £27,974 million
2018: £27,929 million
2019: £27,796 million
2020: £22,646 million
2021: £24,828 million [provisional]
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the projected revenue from fuel duty is for the 2021-22 financial year.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
The Office for Budget Responsibility’s (OBR) latest update of its forecast was published on 27 October 2021 in the October 2021 Economic and fiscal outlook (EFO). It was forecast that fuel duty revenues would amount to £26.8 billion in 2021-22. The full EFO is available to view here: https://obr.uk/efo/economic-and-fiscal-outlook-october-2021/
Asked by: Greg Smith (Conservative - Buckingham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment he has made of the projected level of economic activity in the hospitality sector when VAT returns to 20 per cent in the sector.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
The temporary reduced rate of VAT was introduced on 15 July 2020 to support the cash flow and viability of around 150,000 businesses and protect over 2.4 million jobs in the hospitality and tourism sectors. As announced at Budget 2021, the Government has extended the temporary reduced rate of VAT of 5% for the tourism and hospitality sector. This relief ended on 30 September. On 1 October 2021, a new reduced rate of 12.5% was introduced to help ease affected businesses back to the standard rate. This new rate will end on 31 March 2022.
This relief will cost over £7 billion and, while all taxes are kept under review, there are no plans to extend the 12.5% reduced rate of VAT. The Government has been clear that this relief is a temporary measure designed to support the cash flow and viability of sectors that have been severely affected by COVID-19. It is appropriate that as restrictions are lifted and demand for goods and services in these sectors increases, the temporary tax reliefs are first reduced and then removed in order to rebuild and strengthen the public finances.