Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the (a) total cost and (b) estimated financial benefit to doctors is of the policy to abolish the lifetime allowance on pension savings.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As published on Budget Day, the total cost of the removal of the lifetime allowance charge from April 2023 and full abolition from April 2024 will be £2.75 billion over the scorecard period. This can be found on page 14 of the Policy Costings document.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of the planned increase in National Insurance contributions on child poverty.
Answered by Simon Clarke
The government published distributional analysis on its plan for health and social care, alongside the announcement on 7 September. This showed that lower-income households will be large net beneficiaries from this package, with the poorest households gaining most (as a proportion of income).
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he has made of the amount of additional revenue that will be received as a result of his planned increase to National Insurance Contributions from (a) businesses and (b) individuals in Ilford North constituency.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
The final costing of the policy, as well as the impacts on individuals and businesses, are due to be set out in the upcoming Autumn Budget.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate he made of the number of (a) individuals and (b) businesses in Ilford North constituency that will be affected by the planned increase to National Insurance Contributions.
Answered by Lucy Frazer - Secretary of State for Culture, Media and Sport
The final costing of the policy, as well as the impacts on individuals and businesses, are due to be set out in the upcoming Autumn Budget.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to the installation of oil-fired boilers as part of grant-funded energy efficiency schemes in the homes of people in receipt of War Disablement Pension.
Answered by Jesse Norman
Under current VAT rules, the installation of oil-fired boilers as part of grant-funded energy efficiency schemes in the homes of people in receipt of War Disablement Pension is subject to the reduced rate of VAT. The Government has no plans to change this VAT treatment at this time.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to tampons.
Answered by Jesse Norman
At Spring Budget on 11 March 2020, the Chancellor of the Exchequer announced that a zero rate of VAT will apply to women’s sanitary products from 1 January 2021, at the end of the transition period.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to ground source heat pumps installed in dwellings and buildings used for a residential purpose.
Answered by Jesse Norman
Under current VAT rules, the installation of water and wind turbines is subject to the standard rate of VAT. However, the installation of other energy saving materials (ESMs) remains subject to the reduced rate of VAT when certain conditions are met.
Although there are no plans to extend the scope of the relief already in place, the Government keeps all taxes under review.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to wood-fuelled boilers installed in dwellings and buildings used for a residential purpose.
Answered by Jesse Norman
Under current VAT rules, the installation of water and wind turbines is subject to the standard rate of VAT. However, the installation of other energy saving materials (ESMs) remains subject to the reduced rate of VAT when certain conditions are met.
Although there are no plans to extend the scope of the relief already in place, the Government keeps all taxes under review.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to air source heat pumps installed in dwellings and buildings used for a residential purpose.
Answered by Jesse Norman
Under current VAT rules, the installation of water and wind turbines is subject to the standard rate of VAT. However, the installation of other energy saving materials (ESMs) remains subject to the reduced rate of VAT when certain conditions are met.
Although there are no plans to extend the scope of the relief already in place, the Government keeps all taxes under review.
Asked by: Wes Streeting (Labour - Ilford North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what plans he has to change the rate of VAT applied to renovating a dwelling that has been empty for at least two years.
Answered by Jesse Norman
There are no current plans to change the rate of VAT applied to:
- Magazines
- Renovating a dwelling that has been empty for at least two years
- Smoking cessation products
- Installation of mobility aids for the elderly for use in domestic accommodation
- Supplies of magnetic tape adapted for recording speech for blind people
- Motorcycle helmets that meet safety standards
- Cycle helmets marked CE
- Maps and charts
- Printed music
- Newspapers
- Books
- Food of a kind used for human consumption
- Children’s clothes
- Children’s shoes
- Clothes for babies
- Equipment for blind or partially sighted people
- Incontinence products
- Low Vision aids
- Emptying domestic septic tanks and cesspools
- Water supplied to households.
There are limits to the changes the Government can make to the VAT treatment of these goods under the framework of European law. While the UK is in the transition period, all existing EU VAT rules will continue to apply. Although all taxes are kept under review, there are no plans to change these reliefs at this time.