Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has considered alternative models for funding the duties of the Head of State, including a fixed annual budget subject to Parliamentary approval.
Answered by James Murray - Chief Secretary to the Treasury
The requirements for reviewing the Sovereign Grant have been set by Parliament in the Sovereign Grant Act 2011, sections 6 and 7.
The Government has also committed to bring forward legislation to reset the Grant to a lower level from 2027-28 once Buckingham Palace Reservicing works are completed.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the scope is of the review of the Sovereign Grant scheduled for 2026; and whether that review will include consideration of abolishing the Grant.
Answered by James Murray - Chief Secretary to the Treasury
The requirements for reviewing the Sovereign Grant have been set by Parliament in the Sovereign Grant Act 2011, sections 6 and 7.
The Government has also committed to bring forward legislation to reset the Grant to a lower level from 2027-28 once Buckingham Palace Reservicing works are completed.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has considered making the Digital Services Tax a permanent measure.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Digital Services Tax is an interim solution to widely held concerns with the international corporate tax framework, and the UK remains committed to removing it once a global solution on the reallocation of taxing rights is in place.
As the Chancellor has previously said, we will continue to make sure that businesses pay their fair share of tax, including businesses in the digital sector.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions her Department has had with food and drink wholesalers on reforming the business rates system.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HM Treasury releases a quarterly record of Minister’s meetings with external individuals and organisations. This can be found online: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel
At the Autumn Budget, the Government published the Transforming Business Rates Discussion Paper, which set out priority areas for reform. This paper invited stakeholders to help co-design a fairer business rates system that supports investment and is fit for the 21st century.
The Government will publish an interim report that sets out a clear direction of travel for the business rates system, with further policy detail to follow at Autumn Budget 2025.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions she has had with Cabinet colleagues on consistency across Government in the treatment of people affected by (a) current and (b) historical maladministration .
Answered by Darren Jones - Minister for Intergovernmental Relations
Although schemes to redress the treatment of people affected by maladministration (for instance: Windrush, Post Office, Infected Blood) have department leads, the government's response is always made through a process of collective agreement, via write-round processes inviting views across departments.
The Cabinet Office plays a key role in this process, ensuring coordination between government stakeholders. HM Treasury views are sought on any proposals with spending implications, to promote consistency on government approaches to compensation, in particular. Sign-off is sought either through the Chancellor, or delegated to the Chief Secretary to the Treasury, in these cases.
Absolute consistency is not possible or desirable. In each of these examples, the government was responding to very different circumstances behind calls for redress. Answering to the specific recommendations from the inquiries, and developing policy through sensitive engagement with victim groups, takes primacy over standardising our responses. Nevertheless, officials also continue to engage across Whitehall to learn lessons from other compensation schemes.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, for what reason her Department will not review the decision to provide full compensation to victims of the Equitable Life.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
The Equitable Life Payment Scheme has been fully wound down and closed since 2016 and there are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing mandatory disclosure of commission rates for currency exchange brokers.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Payment Services Regulations 2017 outline requirements on UK payment service providers regarding disclosure of fees and charges to the payer where currency conversion is provided as part of a payment transaction. Provisions under the Cross Border Payments Regulation also contribute to price transparency, with further requirements regarding how foreign exchange costs are communicated before a payment is made.
The Government recognises the importance of transparency of fees and charges in ensuring effective competition between payment service providers. These regulations, amongst other things, are intended to enable consumers to make informed decisions when making use of payment services, including where currency conversion is offered as part of a payment transaction.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of updating regulations on currency exchange brokers.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Payment Services Regulations 2017 outline requirements on UK payment service providers regarding disclosure of fees and charges to the payer where currency conversion is provided as part of a payment transaction. Provisions under the Cross Border Payments Regulation also contribute to price transparency, with further requirements regarding how foreign exchange costs are communicated before a payment is made.
The Government recognises the importance of transparency of fees and charges in ensuring effective competition between payment service providers. These regulations, amongst other things, are intended to enable consumers to make informed decisions when making use of payment services, including where currency conversion is offered as part of a payment transaction.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to require currency exchange services for consumers to display the (a) live exchange rates and (b) commission charged to consumers.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Payment Services Regulations 2017 outline requirements on UK payment service providers regarding disclosure of fees and charges to the payer where currency conversion is provided as part of a payment transaction. Provisions under the Cross Border Payments Regulation also contribute to price transparency, with further requirements regarding how foreign exchange costs are communicated before a payment is made.
The Government recognises the importance of transparency of fees and charges in ensuring effective competition between payment service providers. These regulations, amongst other things, are intended to enable consumers to make informed decisions when making use of payment services, including where currency conversion is offered as part of a payment transaction.
Asked by: Kate Osamor (Labour (Co-op) - Edmonton and Winchmore Hill)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has had recent discussions with her G20 counterparts on a global agreement to tax the world’s richest individuals.
Answered by James Murray - Chief Secretary to the Treasury
The UK was pleased to support the Rio de Janeiro G20 Ministerial Declaration on International Tax Cooperation, including the commitment to cooperate to ensure that ultra-high-net-worth individuals are effectively taxed.
The Government is committed to making sure that the richest in our society pay their fair share on their wealth and assets. That is why the Chancellor announced a series of reforms at the Budget on 30 October to make the tax system fairer and more sustainable.
The G20 can play an important role in helping countries implement progressive tax systems by sharing best practice, building capacity on tackling avoidance and evasion, and supporting international cooperation to increase tax transparency.