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Written Question
Bank Services: Japan
Wednesday 31st January 2024

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment he has made of the potential impact of barriers to opening bank accounts in the UK faced by Japanese companies on the ability of those companies to expand in the UK.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

I refer the honourable Member to the answer I gave to PQ UIN 9958 given on 23 January.


Written Question
Foreign Companies: Japan
Tuesday 23rd January 2024

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department is taking steps to help support Japanese companies to open bank accounts in the UK.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

The Department for Business and Trade has a global network, including a significant presence in Japan, to support investors around the world to establish their businesses in the UK. DBT uses its engagement with thousands of businesses and investors to build a well-rounded view of the top issues impacting business, and will continue to engage businesses on these commercial issues.

The Government knows that Japanese companies continue to take confidence in doing business with the UK. Japan is already the UK’s 5th largest investor and this past year alone during the Prime Minister’s visit, with Japanese businesses committed to invest almost £18 billion in businesses and projects across the UK.

More broadly, the provision of banking services is a commercial decision for firms based on a variety of factors, including the local law, regulation of individual countries, an assessment of profitability, or other commercial drivers. Nevertheless, the Government takes the issue of access to bank accounts very seriously, and that is why last year the Chancellor asked the FCA to collect evidence to help us understand where account closures or refusals are happening and why.


Written Question
Motor Vehicles: Taxation
Monday 23rd October 2023

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will (a) lower fuel duty and (b) provide other additional support for motorists in the Autumn Statement 2023.

Answered by Gareth Davies - Exchequer Secretary (HM Treasury)

At Spring Budget 2023 the Government announced continued support for motorists by maintaining the rates of fuel duty at the levels set on 23 March 2022 for an additional 12 months, by extending the temporary 5p fuel duty cut and cancelling the planned inflation increase for 2023-24.

This support is already available for longer than in many countries and represents around £10 billion over 2 years and £200 for the average car driver. The Government will continue to keep fuel duty rates and other motoring taxes under review.

The Chancellor announces changes to taxes at fiscal events.


Written Question
Financial Services: Freedom of Expression
Thursday 19th October 2023

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps he is taking to ensure that (a) banks and (b) other payment service providers do not terminate contracts on the grounds of clients having expressed a view that is within the scope of lawful free speech.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

On 21 July, the Government confirmed that it would strengthen regulations overseeing banks and payment service providers to increase the minimum notice period in cases of provider-initiated contract terminations from 2 months to 90 days – giving customers more time to challenge a decision through the Financial Ombudsman Service, or find a replacement bank. Providers will also be required to spell out to the affected customer why they are terminating their contract – increasing transparency and aiding customers’ ability to appeal decisions. This requirement will be subject to limited exceptions where firms need to comply with existing legal obligations, for example, under financial crime law.

As set out in its follow-up statement on 2 October, the Government continues to work with the regulators, law enforcement and industry to support the implementation of these changes, and will publish draft secondary legislation to enact these changes to statute by the end of the year.


Written Question
Married People: Tax Allowances
Wednesday 18th October 2023

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he plans to review the levels of (a) Marriage and (b) Married Couple's Allowance ahead of the Autumn Statement.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

The Government introduced the Marriage Allowance (MA) in April 2015 to recognise marriage and civil partnerships in the tax system. It allows a spouse or civil partner to transfer 10 per cent of their Personal Allowance (PA) if their partner is a basic rate taxpayer.

At Autumn Statement 2022, the Chancellor announced that the PA would be maintained at 2021-22 levels up to and including 2027-28. The transferable tax allowance of £1,260 provided through the MA is therefore due to remain at its current level until 2027-28.

The Married Couple’s Allowance, which is available to those born before 6 April 1935, was uprated to be valued between £4,010 and £10,375 in 2023-24.

As with all elements of income tax, the Government keeps this under review.


Written Question
Monetary Policy: Inflation
Wednesday 20th September 2023

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has made a recent assessment of the potential impact of quantitative easing on the rate of inflation.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

Monetary policy, including quantitative easing, is the responsibility of the independent Monetary Policy Committee at the Bank of England. The Government fully supports the Bank in their mission to drive down inflation and is working closely with the Bank to ensure that fiscal and monetary policy are well coordinated.

The Government remains committed to monetary policy independence, and rightly does not comment on the conduct or effectiveness of monetary policy.


Written Question
Money: Disadvantaged
Thursday 14th September 2023

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he is taking steps to address the potential impact of a cashless society on financial inclusivity.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

The government recognises that while the transition towards digital payments brings many opportunities, cash continues to be used by many people across the UK, including those who may be in vulnerable groups.

The government legislated through the Financial Services and Markets Act 2023 to establish a new legislative framework to protect access to cash. This establishes the Financial Conduct Authority (FCA) as the lead regulator for access to cash and provides it with responsibility and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities. The government considers that this legislation will also support organisations, including local businesses, to continue accepting cash by ensuring that they have reasonable access to cash deposit facilities.

Following this, the government recently published a Cash Access Policy Statement, which sets out the government’s policies on access to cash. The FCA is required by law to have regard to these policies when determining its regulatory approach. The FCA will publicly consult on its regulatory approach in due course. The government’s policy statement is available on gov.uk: https://www.gov.uk/government/publications/cash-access-policy-statement/cash-access-policy-statement


Written Question
Small Businesses: VAT
Tuesday 12th September 2023

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has made a recent assessment of the potential merits of reviewing the annual VAT registration threshold to help support small businesses.

Answered by Victoria Atkins - Secretary of State for Health and Social Care

Views on the VAT registration threshold are divided and the case for change has been regularly reviewed over the years. While some businesses have argued that a higher threshold would reduce administrative and financial burdens, others contend that a lower threshold would provide a fairer competitive environment.

In 2018, the Government consulted on how the design of the VAT registration threshold could better incentivise growth. However, there was no clear option for reform.

It was announced at Autumn Statement 2022 that the VAT threshold will be maintained at its current level of £85,000 until 31 March 2026.


Written Question
Money
Monday 11th September 2023

Asked by: Mark Logan (Conservative - Bolton North East)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to help ensure the continued acceptance of cash as a payment option within the UK.

Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)

The government recognises that, to support people’s ability to continue to transact using cash, businesses need reasonable access to cash deposit facilities to support them to keep accepting cash.

The government legislated through the Financial Services and Markets Act 2023 to establish the Financial Conduct Authority as the lead regulator for access to cash and provide it with responsibility and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities. The government considers that this legislation will support organisations, including local businesses, to continue accepting cash by ensuring that they have reasonable access to cash deposit facilities.

Following this, the government recently published a Cash Access Policy Statement, which sets out the government’s policies on access to cash. The FCA is required by law to have regard to these policies when determining its regulatory approach. The FCA will publicly consult on its regulatory approach in due course. The government’s policy statement is available on gov.uk: https://www.gov.uk/government/publications/cash-access-policy-statement/cash-access-policy-statement


Speech in Commons Chamber - Tue 20 Oct 2020
Oral Answers to Questions

Speech Link

View all Mark Logan (Con - Bolton North East) contributions to the debate on: Oral Answers to Questions