Asked by: Liam Conlon (Labour - Beckenham and Penge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of extending VAT energy-saving materials relief to promote the uptake of heat batteries in homes in Beckenham and Penge constituency.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
This Government is committed to improving the quality and sustainability of our housing stock, through improvements such as low carbon heating, insulation, solar panels, and batteries. This will be vital to making the UK more energy resilient and meeting our 2050 Net Zero commitment.
Installations of qualifying energy-saving materials (ESMs) in residential accommodation and buildings used solely for a charitable purpose benefit from a temporary VAT zero rate until March 2027, after which they will revert to the reduced rate of VAT at five per cent.
The Government assesses whether to add ESMs to this relief by evaluating them against the following principles: the primary purpose of the technology must be to improve energy efficiency and reduce carbon emissions; and relieving the technology of VAT must be cost effective and align with broader VAT principles.
Asked by: Liam Conlon (Labour - Beckenham and Penge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking with Cabinet colleagues to help increase opportunities for innovation in the economy.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government recognises that innovation is a key driver of long-term economic growth, higher productivity and improved living standards.
Public investment in research and development (R&D) will rise to £22.6 billion per year by 2029-30, supporting innovation across the government’s eight Industrial Strategy priority sectors.
The Government is also transforming the resources and capabilities of the British Business Bank, delivering a two-thirds increase in support for UK innovative businesses and increasing its overall financial capacity to £25.6 billion. With additional capital and greater flexibilities, the BBB will be able to continue delivering flagship programmes such as Start-Up Loans and the Nations and Regions Investment Fund.
To further incentivise innovation, the Government is maintaining generous rates in both the merged R&D Expenditure Credit (RDEC) scheme and the Enhanced Support for R&D Intensive SMEs. The RDEC rate of 20% represents the joint highest uncapped headline rate of R&D tax relief in the G7 for large companies. The R&D reliefs will support an estimated £56 billion of business R&D expenditure a year by 2029-30.
The Digital and Technologies sector plan sets out a vision for the UK to be one of the best places in the world for fast-growing technology businesses. In addition, the Government has accepted and is implementing all 50 recommendations of the AI Opportunities Action Plan, unlocking the full potential of AI.
The Digital and Technologies Sector Plan can be accessed here: https://www.gov.uk/government/publications/digital-and-technologies-sector-plan
Asked by: Liam Conlon (Labour - Beckenham and Penge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to help protect consumers from unregulated borrowing schemes in (a) Beckenham and Penge constituency and (b) other areas.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government recognises that credit, when provided responsibly, can be crucial for people facing unexpected expenses or managing their cash flow. That is why it is committed to expanding access to affordable credit for people across the UK, so that everyone has the opportunity to access products and services which support their financial wellbeing and goals.
We are also taking action when concerns about consumer harm arise regarding unregulated products. For example, the Government has made regulating the Buy-Now, Pay-Later sector a priority and recently laid legislation to do so. The government’s approach will maintain access to a popular product while adding crucial safeguards.
More broadly, without access to affordable regulated credit some consumers may feel forced to turn to illegal money lenders. To combat illegal money lending, the Government funds specialist Illegal Money Lending Teams (IMLTs) operating across the UK. These teams investigate and prosecute illegal money lenders and offer support to their victims; further information about their work is available on the Stop Loan Sharks website.
Asked by: Liam Conlon (Labour - Beckenham and Penge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to help increase returns on investments from pension schemes for people in (a) Beckenham and Penge constituency and (b) other areas.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
The first part of the landmark Pensions Review has concluded with the publication of the Final Report of the Pensions Investment Review on 29 May 2025.
The ambitious reforms outlined in the Final Report will drive scale and consolidation in both the multi-employer defined contribution pensions market and the Local Government Pension Scheme in England and Wales. They will unlock billions of pounds in investment for productive assets, improve efficiency, and deliver better returns for savers. Estimates suggest the measures could increase a Defined Contribution pot at retirement by £5,900 for an average earner who saves over their career.
To deliver these reforms, the Government has introduced the Pension Schemes Bill, providing the necessary legislative framework to implement these reforms, alongside wider pension reforms that are focused on improving returns for pension savers. The Bill received its first reading on 5 June 2025.
Asked by: Liam Conlon (Labour - Beckenham and Penge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to support high-street banking hubs in Beckenham and Penge constituency.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government understands the importance of face-to-face banking to communities and high streets in Beckenham and Penge and across the UK and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this Parliament. Over 200 hubs have been announced so far, and over 100 are already open.
The Financial Services and Markets Act 2023 granted the Financial Conduct Authority (FCA) the responsibility and powers to seek to ensure the reasonable provision of cash withdrawal and deposit facilities. Under the FCA’s regime, LINK, the operator of the UK’s largest ATM network, is responsible for undertaking access to cash assessments. When a cash access facility such as a bank branch closes, or if LINK receives a request directly from a community, LINK assesses a community’s access to cash needs and can recommend a new service, such as a banking hub. A community request can be submitted to LINK via its website.
Alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking and via the Post Office. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques.
Asked by: Liam Conlon (Labour - Beckenham and Penge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she has taken to help improve living standards for low-paid workers.
Answered by James Murray - Chief Secretary to the Treasury
The Government has set out a Plan for Change, outlining our ambitious yet achievable milestones, including raising living standards in every part of the United Kingdom to ensure working people have more money in their pockets and delivering the highest sustained economic growth in the G7.
Specific actions already taken by the Government to support low paid workers include: increasing to the National Living Wage from April 2025; extending the Household Support Fund and Discretionary Housing Payments in England and Wales in 2025-26; and introducing a new Fair Repayment Rate from April 2025 to cap debt repayments made through Universal Credit.
Asked by: Liam Conlon (Labour - Beckenham and Penge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to help increase access to high street banking services in Beckenham and Penge constituency.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Government understands the importance of face-to-face banking to communities and high streets in Beckenham and Penge, and across the UK, and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with banks to roll out 350 banking hubs by the end of this Parliament. These will provide individuals and businesses up and down the country with critical cash and banking services. Over 100 banking hubs are already open.