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To ask the Secretary of State for Business and Trade, whether she has made an estimate of the number of subpostmasters who received compensation following the settlement of the civil court case on the Post Office's Horizon IT system who have sought tax advice on that compensation; and if she...
To ask the Secretary of State for Business and Trade, whether she has made an estimate of the number of subpostmasters who received compensation following the settlement of the civil court case on the Post Office's Horizon IT system who have sought tax advice on that compensation; and if she...
The Government is working with Post Office to ensure all victims of the Horizon IT scandal are returned to the financial position they should have been in had the wrongs not occurred.
Both Post Office and the Government want to see fair compensation for all victims and are looking at the tax issues raised so that if any unfairness is identified in individual cases, this can be addressed.
To ask the Secretary of State for Business and Trade, whether compensation received by subpostmasters following the failure of the Post Office Horizon IT system will be treated as loss of earnings for tax purposes.
To ask the Secretary of State for Business and Trade, whether compensation received by subpostmasters following the failure of the Post Office Horizon IT system will be treated as loss of earnings for tax purposes.
The Government is working with Post Office to ensure all victims of the Horizon IT scandal are returned to the financial position they should have been in had the wrongs not occurred.
Both Post Office and the Government want to see fair compensation for all victims and are looking at the tax issues raised so that if any unfairness is identified in individual cases, this can be addressed.
To ask the Chancellor of the Exchequer, with reference to subpostmasters who have received compensation following the failure of the Post Office Horizon IT system, if he will make an estimate of the total amount of tax he expects to be due on that compensation.
To ask the Chancellor of the Exchequer, with reference to subpostmasters who have received compensation following the failure of the Post Office Horizon IT system, if he will make an estimate of the total amount of tax he expects to be due on that compensation.
The Government wants to see all victims affected by the Post Office Horizon IT scandal compensated fairly and swiftly. We will continue to work across Government and with the Post Office to ensure the postmasters get the full compensation they deserve and that payments and associated taxes are fair and proportionate.
I agree, but if the Business Secretary believes that integrity and honesty are important in all walks of life, he should have voted against the Prime Minister last night.
I welcome the Government’s U-turn on a windfall tax, but yet again they say one thing and do another. There is uncertainty about who the tax will apply to, and there is worry that the chaotic nature of the announcement could perversely incentivise investment in fossil fuels over renewables. Uncertainty and botched announcements are a feature of the Government, which is one reason why business investment has been so poor
under the Conservatives. When will the Business Secretary offer certainty to businesses on who exactly the Government intend to apply the tax to?
I agree, but if the Business Secretary believes that integrity and honesty are important in all walks of life, he should have voted against the Prime Minister last night.
I welcome the Government’s U-turn on a windfall tax, but yet again they say one thing and do another. There is uncertainty about who the tax will apply to, and there is worry that the chaotic nature of the announcement could perversely incentivise investment in fossil fuels over renewables. Uncertainty and botched announcements are a feature of the Government, which is one reason why business investment has been so poor
under the Conservatives. When will the Business Secretary offer certainty to businesses on who exactly the Government intend to apply the tax to?
The hon. Member will know that issues relating to taxation are a matter for my right hon. Friend the Chancellor of the Exchequer. As far as the hon. Member’s windfall tax is concerned, I have always been opposed to such taxes on principle, and I continue to be opposed. I hope that this energy profits levy does not discourage investment; actually, it has features that do attract greater investment.
Eleventh Opposition day debate (part two). Question agreed to on division (192 votes to 0).
Eleventh Opposition day debate (part two). Question agreed to on division (192 votes to 0).
Tenth opposition day debate (part two). Motion that this House recognises the strain that businesses are under following a difficult Christmas period and two years of disruption during the Covid-19 outbreak; notes challenges are more severe in some sectors; regrets that businesses are struggling with increasing energy costs, high inflation, low growth and higher taxes as a result of the Government's long-term failures and lack of adequate support; and therefore calls on the Government to reform business rates, to alleviate the debt burden by allowing businesses flexibility on Government loans and to implement a contingency fund to support businesses with high energy costs. Closure motion. Agreed to on question. Main question agreed to on division (219 to 0).
Tenth opposition day debate (part two). Motion that this House recognises the strain that businesses are under following a difficult Christmas period and two years of disruption during the Covid-19 outbreak; notes challenges are more severe in some sectors; regrets that businesses are struggling with increasing energy costs, high inflation,...
To ask the Secretary of State for Work and Pensions, what assessment she has made of the potential merits of excluding tax rebates from universal credit earnings assessments.
To ask the Secretary of State for Work and Pensions, what assessment she has made of the potential merits of excluding tax rebates from universal credit earnings assessments.
Repayments of income tax normally occur through recalculations of tax paid during a previous tax year when a claimant was in any paid work, thus repayments of income tax are taken into account as earnings in the calculation of Universal credit for the month in which they are repaid.
Any repayments will be treated as capital and follow normal capital rules.
Last week’s Budget certainly did not end austerity, but we all heard that things could be even worse in the event that the Government fail to get a good Brexit deal. In the Chancellor’s own words, that would necessitate a new Budget entirely, so may I ask the Financial Secretary an entirely straight question: how will the Government react to the loss of even 10% of our tax revenues from financial services in the now likely event that our market access is diminished?
Last week’s Budget certainly did not end austerity, but we all heard that things could be even worse in the event that the Government fail to get a good Brexit deal. In the Chancellor’s own words, that would necessitate a new Budget entirely, so may I ask the Financial Secretary an entirely straight question: how will the Government react to the loss of even 10% of our tax revenues from financial services in the now likely event that our market access is diminished?
The hon. Gentleman raises the issue of financial services, and of course he will be aware that recent progress has been made on that issue with our European partners in the negotiation. As for the impact of an actual deal, as I say we do not know exactly what that deal will look like at this stage. When we do, we will come forward to the House with an appropriate announcement.
The reason the Minister keeps having to give the same answer is that the Government’s answer is woefully inadequate. Business needs certainty and the Government have run out of time, so will he at least acknowledge that securing no more than equivalence which is already available to third countries would be insufficient? Is it not the case that if people want a Brexit deal that really protects jobs and tax revenues, and they want to end austerity, the only way they can have both is with a Labour Government?
The reason the Minister keeps having to give the same answer is that the Government’s answer is woefully inadequate. Business needs certainty and the Government have run out of time, so will he at least acknowledge that securing no more than equivalence which is already available to third countries would be insufficient? Is it not the case that if people want a Brexit deal that really protects jobs and tax revenues, and they want to end austerity, the only way they can have both is with a Labour Government?
It was all going so well—not that well, actually, but it got a sight worse towards the end. Government Members know that we are taking the responsible decisions to move forward a very difficult and detailed negotiation. At the appropriate time, when we have a deal—we are confident we will do that—we will present it to the House, and the House will then be able to express its view on it.