Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made for the implication of his policies of the Institution of Civil Engineer's recommendation that the National Infrastructure Strategy should be on a statutory footing to provide more clarity and guidance on where the UK Infrastructure Bank should focus.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As the Prime Minister set out earlier this month, the government is committed to delivery of infrastructure commitments – including those set out in the National Infrastructure Strategy (NIS) – to improve the UK’s energy security, transport networks and digital connectivity. There are no plans to legislate for the NIS.
The UK Infrastructure Bank (UKIB) was established in June 2021. Since then, it has entered into 10 deals worth a total of £1 billion, investing to drive economic growth and to strengthen the UK’s energy supply. The former Chancellor wrote to the UKIB on 18th March 2022 to set out his strategic priorities for the Bank. This letter has been published and is available on gov.uk.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when he plans to announce the Benefit-in-Kind tax rates that will be applicable for 2025-26 for electric vehicles.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
Like all taxes, benefit-in-kind tax rates for company cars, also known as Company Car Tax (CCT), are kept under review. The Government aims to announce CCT rates at least two years ahead of implementation to provide certainty for employers, employees and fleet operators.
Asked by: Stephen Hammond (Conservative - Wimbledon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made for the implications of his policies of the Institution of Civil Engineer’s recommendation that the National Infrastructure Strategy should be placed on a statutory footing to provide more clarity and guidance on where the UK Infrastructure Bank should focus.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The government is committed to the approach to infrastructure that was set out in the National Infrastructure Strategy (NIS) in November 2020. This addresses the long-term issues that have held back investment in and delivery of UK infrastructure, and ensures a coherent cross-sectoral approach to decision-making. Given this clarity, there are no plans to legislate for the NIS.
The Chancellor wrote to the UK Infrastructure Bank (UKIB) on 18th March 2022 to set out his strategic priorities for the Bank. The Chancellor’s first non-statutory strategic steer provided further details on the Bank’s objectives and scope. This letter has been published and is available on gov.uk. The Bank’s first strategic plan was published on 23rd June 2022, and is in line with the NIS and the Chancellor’s strategic steer, setting out the Bank’s focus and its plans for the next twelve months. The Government is currently legislating to place the UKIB on a statutory footing, in order to complete the Bank’s set-up as an operationally independent institution and to enshrine its objectives and activities in law.