Asked by: James Davies (Conservative - Vale of Clwyd)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has in place to take into account the recommendations of the Union Connectivity Review when assessing applications to the Levelling Up Fund.
Answered by Kemi Badenoch - Leader of HM Official Opposition
This government recognises the importance of connectivity to levelling up all parts of the UK. The Levelling Up Fund is one part of this wider strategy and its investments will include local road schemes, bus lanes, and rail station upgrades. Further details will be published soon in the prospectus.
Asked by: James Davies (Conservative - Vale of Clwyd)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to ensure that the needs of cross-border commuters and their communities are taken into account during the preparation of the prospectus for the first round of applications to the Levelling Up Fund.
Answered by Kemi Badenoch - Leader of HM Official Opposition
The Levelling Up Fund will empower local areas to identify and bring forward genuine local priorities: we will only fund projects prepared in collaboration with local stakeholders that have clear benefits to the local community and are aligned with a broader local economic strategy. Further details will be published in the prospectus.
Asked by: James Davies (Conservative - Vale of Clwyd)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment the Government has made of the effect of the temporary reduction in VAT for hospitality, holiday accommodation and attractions on levels of (a) growth, (b) employment and (c) tax revenues of companies in the hospitality sector and its supply chain.
Answered by Jesse Norman - Shadow Leader of the House of Commons
To support the cash flow and viability of over 150,000 businesses and to protect 2.4 million jobs, the Government has applied a temporary reduced rate of VAT (5 per cent) to goods and services supplied by the tourism and hospitality sectors until 31 March. This relief is estimated to be worth over £2 billion to the tourism and hospitality sectors.
Asked by: James Davies (Conservative - Vale of Clwyd)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential long-term economic effect of the covid-19 outbreak on the live entertainment industry.
Answered by Kemi Badenoch - Leader of HM Official Opposition
We will continue to monitor developments to understand the economic impacts of COVID-19, including on industries and sectors, and consider how the Government can best support their recovery, including that of the live entertainment industry.
The Government’s economic strategy will be closely coordinated with our public health strategy to ensure a safe return to economic activity.
Like many other sectors, the live entertainment industry has been severely impacted by COVID-19, which is why the Government has put in place an unprecedented level of support for business and workers, including:
• A 12-month business rates holiday for all eligible retail, leisure and hospitality businesses in England
• The Retail, Leisure and Hospitality Grant Fund (RLHGF)
• The Coronavirus Job Retention Scheme (CJRS)
• The Self-Employment Income Support Scheme (SEISS)
• The Coronavirus Business Interruption Loan Scheme (CBILS)
• The Coronavirus Large Business Interruption Loan Scheme (CLBILS)
• The Bounce Back Loan Scheme (BBL) for small and micro enterprises
• VAT deferral for up to 12 months
• The Time To Pay scheme, through which businesses and self-employed individuals in financial distress, and with outstanding tax liabilities, can receive support with their tax affairs
• Protection for commercial leaseholders against automatic forfeiture for non-payment until June 30, 2020
Asked by: James Davies (Conservative - Vale of Clwyd)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions he has had with financial regulators on ensuring that insurance providers are not unfairly dismissing claims made by businesses as a result of the covid-19 outbreak.
Answered by John Glen
The Government is working closely with the Financial Conduct Authority (FCA) to ensure that the rules are being upheld during this crisis, and fully supports the FCA in its role as conduct regulator.
The FCA rules require insurers to handle claims fairly and promptly; provide reasonable guidance to help a policyholder make a claim; not reject a claim unreasonably; and settle claims promptly once settlement terms are agreed. In addition, the FCA has said that, in light of COVID-19, insurers must consider very carefully the needs of their customers and show flexibility in their treatment of them.
On 15 April, the FCA published a Dear CEO letter to the insurance industry on the subject of business interruption claims. This set out its expectations for the sector to be as flexible as possible, to ensure that payments for valid claims are made quickly to customers, including interim payments where required, and to clearly communicate to customers where exclusions apply. The letter can be found at the following link: www.fca.org.uk/publication/correspondence/dear-ceo-insuring-sme-business-interruption-coronavirus.pdf