Asked by: Olivia Blake (Labour - Sheffield, Hallam)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of cancelling the debt of (a) Mozambique and (b) other countries in southern Africa that have been heavily impacted by tropical storm Ana.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
We recognise the significant impact of Storm Ana on Mozambique. It is clear that other countries, including Malawi and Madagascar, have also been severely affected.
If affected countries are facing significant debt vulnerabilities, they can – if eligible – request a treatment under the Common Framework for Debt Treatments beyond the DSSI. This was agreed by the UK, along with the G20 and Paris Club, to help deliver a long-term, sustainable approach for supporting low-income countries to tackle their debt vulnerabilities
For countries that make a request to the Common Framework, treatments can include both the reprofiling of debt or a full restructuring, which, depending on need, may entail debt cancellation. This should enable more efficient, equitable, and effective case-by-case restructurings, allowing low-income countries requesting debt treatment to benefit from a transparent and responsive approach.
In addition to this, the UK is exploring the development of innovative debt instruments that could provide automatic fiscal space in the event of a significant weather event or other natural disaster, to help increase the long-term climate resilience of vulnerable countries. The UK is actively calling for creditors and debtors to explore the introduction of these climate-resilient debt instruments.
Asked by: Olivia Blake (Labour - Sheffield, Hallam)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to ensure the Government’s environmental targets are included in any reform of Solvency II regulation; and if he will make a statement.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
From the outset of the review of Solvency II, one of the guiding objectives has been to support insurance firms to provide long-term capital to underpin growth, including investment in productive assets and investment consistent with the Government’s climate change objectives.
The Government is also introducing sustainability disclosure requirements that will require firms to disclose their environmental risks, opportunities and impact. This will continue to be relevant in any reform of Solvency II legislation, again helping to meet the Government’s environmental ambitions.
The Government will consult further on Solvency II reforms in April.
Asked by: Olivia Blake (Labour - Sheffield, Hallam)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will bring forward legislative proposals to allow people to reclaim the additional stamp duty charge where those people have (a) purchased a second home with the intention of selling the first, (b) been unable to sell that home as a result of cladding-related issues and (c) been unable to reclaim the three per cent additional property stamp duty charge paid on the purchase of the second property.
Answered by Jesse Norman
A refund of the higher rate of SDLT paid can be claimed if an old main residence is sold within three years of the purchase of the new main residence. For most people, three years is enough time to sell a previous main residence. However someone who purchases a new main residence on or after 1 January 2017 will still be eligible to apply for a refund if exceptional circumstances meant they were unable to sell their previous main residence in three years and they sold the property as soon as possible after those exceptional circumstances ended.
Where a person is not permitted to sell a previous main residence, such as due to fire safety issues, the circumstances are likely to be considered exceptional. HMRC will consider each case on its own merits.
Asked by: Olivia Blake (Labour - Sheffield, Hallam)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has plans to (a) reduce beer duty and (b) financially support pubs.
Answered by Kemi Badenoch - President of the Board of Trade
Alcohol duties are kept under review and the merits of a change to beer duty are considered at each fiscal event. The Government will outline the next stages of its plan to support UK businesses at the upcoming Budget.
Asked by: Olivia Blake (Labour - Sheffield, Hallam)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will include brewers in the retail, hospitality and leisure business rates relief programme; and if he will reopen the Retail, Hospitality and Leisure Grant Fund and include brewers.
Answered by Jesse Norman
The Government has provided Local Authorities with £1.1 billion across England via the Additional Restrictions Grant, for businesses which are not legally closed, but which are nonetheless severely affected by local or national restrictions.
Local Authorities have discretion on how to use this funding to support businesses in their areas, but the Government encourages them to set up discretionary grant schemes to support businesses such as brewers which can remain open, but which are nonetheless severely affected by the enhanced COVID-19 restrictions.
There are currently no plans to change the scope of existing business rates relief. HM Treasury is conducting a fundamental review of the business rates system and will consider any future reliefs through that process.