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Written Question
Economic Situation: Brexit
Tuesday 5th December 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department has plans to undertake an assessment of the impact of the UK's departure from the EU on the economy.

Answered by Bim Afolami - Economic Secretary (HM Treasury)

It is for the Office for Budget Responsibility (OBR) to provide independent and authoritative analysis and forecasting for the UK public finances.


Written Question
Alcoholic Drinks: Excise Duties
Tuesday 21st November 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has plans to make an assessment of the potential merits of further measures to support (a) SME, (b) independent and (c) other wine and spirits businesses with high-street presence in the context of (i) the increase in alcohol duty brought in in August 2023 and (ii) the end of business rates relief at the end of the 2023-24 financial year.

Answered by Gareth Davies - Exchequer Secretary (HM Treasury)

The Government has undertaken the biggest reform of alcohol duties for over 140 years and has introduced a new, simplified alcohol duty system based on the common-sense principle of taxing alcohol by strength. The Government is closely monitoring the impact of the reforms and will evaluate the impact of the new rates and structures three years after the changes took effect on 1 August 2023. This will allow time to understand the impacts on the alcohol market, and for HMRC to gather useful and accurate data with which to evaluate the effects of the reform.

As with all taxes, the Government keeps the alcohol duty system under review during its yearly Budget process.

At Autumn Statement 2022 the Government announced an increased 75% relief for retail, hospitality and leisure properties, up to a cash cap of £110,000 per business for 2023-24. This is a tax cut worth over £2 billion for around 230,000 RHL businesses, to support the high street and protect small shops and pubs.

Decisions on future business rates support will be made in due course.


Written Question
Alcoholic Drinks: Excise Duties
Tuesday 21st November 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has met representatives of (a) SME and (b) independent wine businesses since the changes to alcohol duty introduced in August 2023.

Answered by Gareth Davies - Exchequer Secretary (HM Treasury)

Treasury ministers have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial meetings with external organisations on departmental business are published on a quarterly basis and are available at the link below:

https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel


Written Question
Wealth: Taxation
Wednesday 28th June 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of taxing people with over £10 million in assets one per cent more and investing that money in the economy and public services.

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

The UK system is designed to ensure among other things that those with the broadest shoulders pay their fair share on their wealth and assets, with the tax system taxing wealth across many different economic activities, including acquisition, holding, transfer and disposal of assets and income derived from assets.


Written Question
Wines: Excise Duties
Tuesday 25th April 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect of increases in the level of alcohol duty on international wine trading in the UK.

Answered by Gareth Davies - Exchequer Secretary (HM Treasury)

The Government published a Tax Information and Impact Note setting out the assessment of impacts from changes to the duty rates made at the Spring Budget 2023. The wine industry has benefitted from freezes at 4 out of the last 5 fiscal events.

As with all taxes, the Government keeps the alcohol duty system under review and welcomes representations from stakeholders to inform policy development.


Written Question
Mortgages: Legal Opinion
Monday 13th March 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department is taking steps to help ensure that customers who lose money as a result of unreasonable delays in the provision of legal services are compensated when the use of a specific legal service provider was stipulated by the bank to which they are applying for a fixed mortgage.

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

Complaints about the service provided by authorised legal services professionals are handled independently by the Legal Ombudsman. The Legal Ombudsman in resolving a complaint may require the payment of compensation to the complainant where it is deemed appropriate based on the facts of the case.

More broadly, the Government is regularly in contact with mortgage lenders on all aspects of their business. However, it would not be appropriate for the Government to comment on, or intervene in, commercial decisions – including decisions around conveyancing – made by mortgage lenders. The UK benefits from a competitive mortgage market, and those seeking a mortgage provider that allows borrowers to choose their own legal service provider are encouraged to shop around to find a lender that meets their needs.


Written Question
Mortgages: Legal Opinion
Monday 13th March 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether his Department is taking steps to help ensure that banks which require customers to use a specific legal service provider when applying for fixed mortgage deals are liable when those legal services cannot be delivered within reasonable timescales.

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

Complaints about the service provided by authorised legal services professionals are handled independently by the Legal Ombudsman. The Legal Ombudsman in resolving a complaint may require the payment of compensation to the complainant where it is deemed appropriate based on the facts of the case.

More broadly, the Government is regularly in contact with mortgage lenders on all aspects of their business. However, it would not be appropriate for the Government to comment on, or intervene in, commercial decisions – including decisions around conveyancing – made by mortgage lenders. The UK benefits from a competitive mortgage market, and those seeking a mortgage provider that allows borrowers to choose their own legal service provider are encouraged to shop around to find a lender that meets their needs.


Written Question
Mortgages: Legal Opinion
Monday 13th March 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has had discussions with banks on permitting people who apply for fixed mortgage deals to choose a legal service provider of their own choosing.

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

Complaints about the service provided by authorised legal services professionals are handled independently by the Legal Ombudsman. The Legal Ombudsman in resolving a complaint may require the payment of compensation to the complainant where it is deemed appropriate based on the facts of the case.

More broadly, the Government is regularly in contact with mortgage lenders on all aspects of their business. However, it would not be appropriate for the Government to comment on, or intervene in, commercial decisions – including decisions around conveyancing – made by mortgage lenders. The UK benefits from a competitive mortgage market, and those seeking a mortgage provider that allows borrowers to choose their own legal service provider are encouraged to shop around to find a lender that meets their needs.


Written Question
Energy: Taxation
Thursday 9th February 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of introducing a one off windfall tax on energy companies.

Answered by James Cartlidge - Minister of State (Ministry of Defence)

The Energy Profits Levy was introduced in May 2022 to respond to very high prices that meant oil and gas companies are benefiting from exceptional profits. At Autumn Statement 2022, the government confirmed the rate of the levy would rise by a ten percentage points to 35%. This is on top of the 40% tax rate under the permanent regime, bringing the combined headline rate of tax for the sector to 75%, one of the highest amongst comparable North Sea regimes.

The Office for Budget Responsibility’s (OBR) forecast at Autumn Statement 2022 estimates revenues from EPL are expected to be £41.6 billion over the next five years. Total UK oil and gas revenues over this period are forecast to be around £80 billion.

At Autumn Statement, the Government also announced the Electricity Generator Levy, effective since 1 January 2023. This is a temporary 45% tax on extraordinary returns made by some UK electricity generators.


Written Question
Energy Price Guarantee
Thursday 9th February 2023

Asked by: Marsha De Cordova (Labour - Battersea)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether he has had recent discussions with Cabinet colleagues on the potential impact on households of increases in the Energy Price Guarantee.

Answered by James Cartlidge - Minister of State (Ministry of Defence)

As announced at the Autumn Statement, the Energy Prince Guarantee (EPG) will rise to £3000 from April 2023 until April 2024. It is important to ensure fiscal sustainability whilst continuing to provide support on energy bills.

The EPG continues to be a significant intervention and will save the average household around £900 this winter, based on forecasts at the Autumn Statement. The EPG, alongside the £400 Energy Bills Support Scheme (EBSS) for all households, will mean the typical household has received around £1300 of support this winter. The Government has announced £37 billion of support for households and individuals for the cost of living in 2022-23. As part of this financial year’s cost of living support and in addition to universal support with energy bills, millions of the most vulnerable households have received £150 Council Tax rebate and one-off £650 Cost of Living Payment for those on means-tested benefits, with additional £300 cost of living support for pensioners and a one-off cost of living payment of £150 for those claiming disability benefits.

The Government has announced further support for 2023-24 designed to target the most vulnerable households. This cost of living support is worth £26 billion in 2023-24, in addition to benefits, including £300 cost of living payments for pensioners, £150 for individuals on disability benefits and £900 for those on means-tested benefits.

The Government continues to keep the current situation under review. The economic and fiscal position remain challenging, which is why it is right that the Government has taken action to maintain fiscal sustainability whilst targeting its support to the most vulnerable.