Asked by: Peter Kyle (Labour - Hove and Portslade)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the timescale is for the investigation by the Financial Conduct Authority into the failure of London Capital & Finance.
Answered by John Glen
Further details of this investigation will be published shortly.
Asked by: Peter Kyle (Labour - Hove and Portslade)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the timeframe is for new customers to apply for a Help To Buy ISA.
Answered by John Glen
The Help to Buy ISA is due to close to new accounts on 30 November 2019. First Time Buyers can therefore open a Help to Buy ISA account up to, and including, that date. Customers will then be able to save into existing accounts until 30 November 2029 and will have until 1 December 2030 to claim the bonus.
Asked by: Peter Kyle (Labour - Hove and Portslade)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to raise public awareness of the Lifetime ISA.
Answered by John Glen
The Lifetime ISA is a tax-free savings account. Anyone between the ages of 18 and 40 may open an account and, until their 50th birthday, may save up to £4,000 each year and receive a 25% government bonus. Savings, including the bonus, can be withdrawn without penalty from age 60, if the saver is terminally ill, or to put towards a first home.
There are currently 21 providers of the Lifetime ISA. As of January 2019, there were 250,000 open accounts on which over £230m has been paid out in bonuses.
The government does not ordinarily promote specific types of ISA. Providers which offer the Lifetime ISA will undertake advertisement and promotion activities in relation to their own products.
Asked by: Peter Kyle (Labour - Hove and Portslade)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what representations he has received from self-employed people on the potential extension of IR35 off-payroll tax to the private sector; and what proportion of those representations have been critical of that potential change.
Answered by Mel Stride - Shadow Chancellor of the Exchequer
The Government is considering the responses to the consultation on non-compliance with the off-payroll working rules in the private sector. A number of these responses were from individuals who identified themselves as self-employed.
The Government will issue a formal response to the consultation in due course.
Asked by: Peter Kyle (Labour - Hove and Portslade)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what assessment his Department has made of the effect on private sector pension schemes of the decision to provide full indexation of Guaranteed Minimum Pensions earned in public service to people who reach State Pension Age on or after 6 December 2018 and before 6 April 2021.
Answered by Elizabeth Truss
On the 22 January, the Government announced that it would continue to provide full indexation for GMPs earned in public service for those reaching State Pension age on or after 6 December 2018 and before 6 April 2021. The Government considered the impacts of this decision on the private sector as part of its consultation on this issue:
Asked by: Peter Kyle (Labour - Hove and Portslade)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to Answer of 26 June 2018 to Question 154781 on Brexit, what steps his Department has taken in order to calculate the value of the dividend arising from the UK leaving the EU.
Answered by Elizabeth Truss
The UK’s exit from the European Union will mean that we no longer pay an annual membership subscription to the EU. The OBR forecast our future EU contributions at fiscal events and, in March 2018, produced an estimate of our financial settlement with the EU.
On 18 June, the Prime Minister set out an increase in funding for the NHS in England. It will be funded from a combination of sources, including funding we will no longer be sending to the EU and taxpayers contributing a bit more in a fair and balanced way. The Chancellor will set out further details in due course.
Asked by: Peter Kyle (Labour - Hove and Portslade)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 26 June 2018 to Question 154782 on Brexit, if he will publish the details of his Department’s calculation of the value of the dividend arising from the UK leaving the EU.
Answered by Elizabeth Truss
The UK’s exit from the European Union will mean that we no longer pay an annual membership subscription to the EU. The OBR forecast our future EU contributions at fiscal events and, in March 2018, produced an estimate of our financial settlement with the EU.
On 18 June, the Prime Minister set out an increase in funding for the NHS in England. It will be funded from a combination of sources, including funding we will no longer be sending to the EU and taxpayers contributing a bit more in a fair and balanced way. The Chancellor will set out further details in due course.
Asked by: Peter Kyle (Labour - Hove and Portslade)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what estimate his Department has made of the value of the dividend arising from the UK leaving the EU.
Answered by Elizabeth Truss
On 18 June, the Prime Minister set out that the NHS in England will receive an increase in funding over the next five years that equates to over £20 billion additional real terms funding a year by 2023-24.
As the Prime Minister and Health Secretary have set out, some of this funding will be paid for by the UK no longer having to send annual membership subscriptions to the EU after we have left.