Asked by: Jo Stevens (Labour - Cardiff East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment his Department has made HMRC's readiness for the UK to leave the EU without a Withdrawal Agreement.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
HM Treasury, alongside the Department for Exiting the European Union (DExEU) and Cabinet Office, is continually assessing the readiness of all Departments (including HMRC) to leave the EU with or without a Withdrawal Agreement.
Asked by: Jo Stevens (Labour - Cardiff East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of trends in the level of personal debt over the last five years.
Answered by John Glen
The household debt-to-income ratio has stabilised over the past year and was 140% in Q2 2018, down from a high of 160% in Q1 2008. Almost three quarters of household debt is secured against housing. Unsecured debt as a share of household income is now 35% (Q2 2018), down from its peak of 41% before the financial crisis (Q1 2007).
Although the level of consumer credit remains high, when adjusted for inflation, the level of outstanding consumer credit stands 17.7% below its January 2008 peak.
The Budget 2018 announced new policies to help households manage unexpected costs by increasing access to fair and affordable credit, as well as a consultation on a breathing space scheme for people who fall into problem debt.
Asked by: Jo Stevens (Labour - Cardiff East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department has made any assessment of the effect of beer duty on the viability of independent pubs.
Answered by Robert Jenrick
The impact of a change to beer duty is considered at each fiscal event, including its effect on pubs and the wider economy
Asked by: Jo Stevens (Labour - Cardiff East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, which Department will have budgetary responsibility for replacing (a) European Regional Development Fund and (b) European Structural Fund funding for projects in Wales in the event that no deal is reached with the EU on funding for 2019-2020.
Answered by Elizabeth Truss
In the unlikely event that the UK leaves the EU without an agreement, the UK Government’s guarantee for EU-funded programmes will apply. Under the guarantee, HM Treasury will provide funding to cover Wales’ full structural and investment fund allocation from the EU’s 2014-2020 budget. The Welsh Government will then be responsible for administering payments to beneficiaries.
Asked by: Jo Stevens (Labour - Cardiff East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate his Department has made of the amount of money that will need to be made available to replace all EU funding in Wales for 2019-2021 in the event that no withdrawal agreement is reached with the EU or funding is not covered in that deal.
Answered by Elizabeth Truss
In the unlikely event that the UK leaves the EU without an agreement, the UK Government’s guarantee for EU-funded programmes will apply. This is providing certainty to UK recipients of EU funding as we prepare to leave the EU. The potential cost of the guarantee will depend on the profile of structural and investment fund commitments and the success rates of organisations bidding for competitive grants.
Asked by: Jo Stevens (Labour - Cardiff East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department has taken to help small businesses cover the costs of making the mandated transition to online VAT returns in April 2019.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
The government is fully committed to supporting businesses in making a successful transition to Making Tax Digital. Regarding the help and support available, I refer the Honourable member to my answers of 26 March 2018 to PQs N133391 and N133392.
HM Revenue and Customs (HMRC) and the software industry have a shared aim of ensuring a wide range of software products at a variety of price points is made available. Costs to business of both hardware and software are normally 100% deductible against taxable income.
Asked by: Jo Stevens (Labour - Cardiff East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 11 June 2018 to Question 150168, on immigration: EU Nationals, what funding arrangments have been made for those increases and programmes.
Answered by Elizabeth Truss
My Written Ministerial Statement of 13 March 2018 set out that UK departments have been allocated £1.5bn to prepare for EU Exit. The Home Office was allocated £395m in 2018/19, which includes funding for the EU Exit Settlement Scheme.
Asked by: Jo Stevens (Labour - Cardiff East)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what proportion of households assisted under the Help to Buy scheme earned within 10 per cent of the national average household income.
Answered by John Glen
The Treasury operates two Help to Buy schemes – the Help to Buy: mortgage guarantee and the Help to Buy: ISA. The mortgage guarantee has now closed and was a product offered to lenders to encourage higher loan to value (LTV) lending. Help to Buy: ISAs are offered to the public by 28 banks and building societies directly - the Treasury therefore does not hold information on individual savers.