Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, to what overseas-based financial organisations staff from his Department are seconded; and how many staff are seconded to each such organisation for how long and for what purpose.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
HM Treasury pursues secondments with a wide range of partners to represent the Treasury, deepen our exchange with other institutions whilst also honing the skills and experience of our staff beyond the Civil Service environment.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many of his Department's staff are seconded to the Asian Infrastructure Investment Bank and for what purpose.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
HM Treasury pursues secondments with a wide range of partners to represent the Treasury, deepen our exchange with other institutions whilst also honing the skills and experience of our staff beyond the Civil Service environment.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the (a) financial and (b) political (i) benefits and (ii) disadvantages of membership of the Asian Infrastructure Investment Bank.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
The Asian Infrastructure Investment Bank (AIIB) is an established multilateral development bank (MDB) with a membership of 109 countries worldwide.
The benefits of the UK's membership of the AIIB were set out when the government announced its intention for the UK to join the AIIB and in presenting the Draft AIIB (Initial Capital Contribution) Order 2015 for agreement by the House of Commons.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps he is taking to tackle the threat of use by the Chinese authorities of UK membership of the Asian Infrastructure Investment Ban to access UK data.
Answered by Bim Afolami - Economic Secretary (HM Treasury)
We are actively monitoring threats to UK data and will not hesitate to take further action if necessary to protect our national security.
Data can be exploited by those seeking to counter UK interests and we are taking action to secure our data. As set out in the Integrated Review Refresh 2023, this includes considering new levers to prevent hostile actors accessing our data.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps his Department is taking to make investment in energy infrastructure more attractive for pension funds.
Answered by Gareth Davies - Exchequer Secretary (HM Treasury)
The government is attracting tens of billions of private investment into energy infrastructure from a wide variety of sources. Autumn Statement 2023 announced planning and grid reforms which could bring forward £90 billion of investment in energy infrastructure over 10 years, and since September 2023 alone companies have announced plans for £30 billion of new energy investment.
Autumn Statement added to the significant progress government has already made in creating the right enabling environment for infrastructure in decarbonization, as set out in Powering Up Britain. This includes:
- Innovative financing mechanisms and business models to provide revenue support and long-term certainty for investors in green industries, including Contracts for Difference (CfDs) for renewable energy generation, Regulated Asset Base (RAB) for nuclear, and models for CCUS and hydrogen.
- A strong public finance offer, including the £22bn in financial capacity in the UK Infrastructure Bank (UKIB) which enables it to partner with the private sector and government to increase net zero infrastructure investment.
Spring Budget 2024 delivers and builds on announcements from Autumn Statement, creating the enabling environment for net zero investment through energy system reforms. This includes:
- Confirmation of the parameters of the 6th Contracts for Difference (CfD) round for offshore wind, with the largest ever budget set at £1 billion.
- Seizing the growth opportunities of the net zero transition, with an additional £120 million for the Green Industries Growth Accelerator targeted at manufacturing capacity in the clean energy sectors where the UK has the strongest current or potential advantage: CCUS, hydrogen, offshore wind, networks, and nuclear. This brings overall funding for the Green Industries Growth Accelerator to over £1 billion.
- The pensions reforms currently being developed by the Government, Financial Conduct Authority and The Pensions Regulator, which will also help ensure that pension funds are investing in the full range of asset classes including infrastructure.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how much revenue was raised from VAT on pet food in each of the last 5 years.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
The information is not available. HMRC does not hold information on VAT revenue from specific products or services because businesses are not required to provide figures at a product level on their VAT returns, as this would impose an excessive administrative burden.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent representations he has received from stakeholders on reducing the rate of VAT on pet foods; and if he will make a statement.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
VAT has been designed as a broad-based tax on consumption, and the twenty per cent standard rate applies to many goods and services, including pet food.
The Government keeps all taxes under review and continues to welcome representations on how the tax system can be improved.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many people who have requested a refund under the changes resulting from the Morse Review have been refunded by Her Majesty's Revenue and Customs.
Answered by Victoria Atkins - Secretary of State for Health and Social Care
Following Lord Morse’s Independent Loan Charge Review in 2019, HMRC established the Disguised Remuneration (DR) Repayment Scheme 2020 to repay voluntary payments that taxpayers had agreed to make as part of settlements concluded before changes were made to the scope of the Loan Charge. Individuals and employers had until 30 September 2021 to apply to HMRC for a refund or waiver.
HMRC repays amounts that were paid in DR scheme settlements, and/or waives amounts of instalments due that have not yet been paid if certain conditions are met.
By the end of November 2022, HMRC had processed approximately 2400 applications, of which approximately 1375 had received either a repayment, a waiver, or both. Over 1000 of the applications processed at that date were either invalid or ineligible.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Chancellor of the Exchequer's announcement on 29 January on resuming the Economic and Financial Dialogue between the UK and China, what recent assessment she has made of the extent of human rights abuses by China in Hong Kong since the National Security Law came into effect in that territory.
Answered by John Glen - Paymaster General and Minister for the Cabinet Office
The UK has continued to make clear to the mainland Chinese and Hong Kong authorities our strong opposition to the National Security Law, which is being used to curtail freedoms, punish dissent and shrink the space for opposition, free press and civil society.
We can also pursue an economic relationship with China in a safe, mutually beneficial way without compromising our values. UK-China Economic and Financial Dialogues (EFDs) provide a key mechanism for doing this. We have always been clear that our economic relationship does not come at the expense of human rights, and where we have concerns, we will continue to speak out and act.
Asked by: Tim Loughton (Conservative - East Worthing and Shoreham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 8 November 2021 to Question 68994, on Treasury: Stonewall, if he will provide details of any funding for Stonewall from his Department in each of the last five years broken down by purpose or project.
Answered by Helen Whately - Minister of State (Department of Health and Social Care)
Details on funding in each of the last five years broken down by purpose or project
Year | Annual membership subscription fee |
2016-17 | 0 |
2017-18 | £3000 |
2018-19 | £3000 |
2020-21 | £3000 |
2021-22 | £3000 |