Asked by: Jim Murphy (Labour - East Renfrewshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, when Ministers of his Department last met representatives of the oil and gas industry to discuss the fiscal implications of falling oil prices for the North Sea oil and gas industry.
Answered by Priti Patel - Shadow Secretary of State for Foreign, Commonwealth and Development Affairs
The government understands the challenges currently facing the UK oil and gas industry and is engaging closely with stakeholders on this.
We have been proactive in our response to the fall in oil price. Budget 2015 announced an ambitious programme of reform across the oil and gas tax regime to make sure the North Sea continues to attract investment and safeguard the future of this vital national asset. The government announced an immediate cut to the rate of the Supplementary Charge, from 30% to 20%, which is already in effect; a reduction to Petroleum Revenue Tax, from 50% to 35%, from January 2016; and the introduction of a new Investment Allowance to support investment in the UK Continental Shelf.
This package is expected to deliver over £4bn of additional investment and increase production by 15% by 2019, the equivalent of 0.1% of GDP.
Details of meetings between Treasury Ministers and external organisations are published on the Gov.UK website at the following link: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel.
Asked by: Jim Murphy (Labour - East Renfrewshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether all participating banks completed all customer review assessments for the sale of interest rate hedging products by the deadline set by the Financial Conduct Authority (FCA); and what (a) fines and (b) other measures the FCA plans to impose on banks which missed the deadline.
Answered by Andrea Leadsom
All nine participating banks have now completed their assessment of customers that joined the FCA review of interest rate hedging products before March 2014. This is within the projected FCA timescale.
Asked by: Jim Murphy (Labour - East Renfrewshire)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether hours of care during overnight stays and holidays are included in calculations of payments to recipients of child benefit.
Answered by David Gauke
Child Benefit is a payment in recognition of the costs of bringing up a child. It is paid at the weekly standard rates of £20.50 for the eldest or only child and £13.55 for each additional child.