Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether his Department has made an assessment of the effect on the manufacturing industry of the depreciation of sterling since the EU referendum; and if he will make a statement.
Answered by Simon Kirby
The UK has an inflation target, not an exchange rate target, and the Government does not express a view on the level of the exchange rate. Manufacturing output has grown 6% since 2010, and has seen significant growth in key areas such as car production and aerospace.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what the net flow of income was between the UK and other EU countries except Ireland from UK citizens living and working abroad in the EU for the most recent year for which figures are available.
Answered by David Gauke
No geographical breakdown of the flow of income between UK citizens living and working abroad in the EU is available.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will estimate the total amount of income paid to UK citizens living in other EU countries except Ireland which derived from UK sources in the most recent year for which statistics are available.
Answered by David Gauke
The information requested is not available.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will estimate the total amount remitted to non-UK citizens living in other EU countries except Ireland, by non-UK citizens from the EU working in the UK in the last year.
Answered by David Gauke
The information requested is not available.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what proportion of UK citizens living in other EU countries excluding Ireland, derived incomes from UK sources in the most recent year for which statistics are available.
Answered by David Gauke
The information requested is not available.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will place a full copy of Lord Justice Bingham's report Inquiry into the Supervision of The Bank of Credit and Commerce International, published in October 1992, on the closure of The Bank of Credit and Commerce International (HC 198 1992/93), in the Library.
Answered by Harriett Baldwin
As requested by the Hon. Member, a copy of the document will be made available in the Library of the House.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will bring forward legislative proposals to require large companies to publish a country-by-country report in their annual financial report.
Answered by David Gauke
The UK supports efforts to improve tax transparency. We initiated the international work on country-by-country (CbC) reporting to tax authorities during our G8 Presidency in 2013, calling on the OECD to develop a template for this as part of the BEPS project.
The UK was the first to commit to implementing the OECD model with legislation in Finance Act 2015. We signed the OECD agreement to share the CbC reports with other tax authorities in January 2016 and issued our final CbC reporting regulations on 26 February 2016.
The Government believes that there is scope for greater transparency by pressing the case for public CbC reporting on a multilateral basis. As the Chancellor has said, this is something that the UK will seek to promote internationally.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, with reference to the judgment in Schofield v HM Revenue and Customs [2012] EWCA Civ 927 (11 July 2012), what steps his Department has taken against PricewaterhouseCoopers for designing and marketing the tax avoidance scheme rejected by the court.
Answered by David Gauke
It is not possible for HM Revenue and Customs (HMRC) to provide details of any action taken in connection with these organisations.
In the March 2015 Budget, the Government challenged the accountancy and tax professional bodies to improve how they deal with their members who promote tax avoidance schemes.
The professional bodies have responded positively to this challenge and are working with HMRC to agree a new standard to which their members will need to adhere.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what discussions he has had with the European Commission about introduction of the Common Consolidated Corporate Tax Base.
Answered by David Gauke
Tax policy is a matter for national governments and direct tax files are subject to a unanimous vote in the Council. The Government has made it very clear to the European Commission that the UK will not sign up to the CCCTB, or any other measure that would undermine our tax sovereignty or risk harming the competitiveness and growth prospects of the Single Market.
Asked by: Kelvin Hopkins (Independent - Luton North)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, if he will appoint an independent commission to investigate the role of PricewaterhouseCoopers, KPMG, Ernst & Young and Deloitte in designing, selling and implementing tax avoidance schemes.
Answered by David Gauke
The Government is committed to countering tax avoidance to ensure all taxpayers pay their fair share. At Budget 2016, the Chancellor announced a comprehensive package of measures to tackle tax avoidance and aggressive tax planning, and tax evasion by individuals and businesses. Overall, this will raise £12 billion by 2020-21.
We keep our policy on countering tax avoidance under continuous review to respond to emerging risks.