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Ordered that the programme order of 16 June be varied.
Ordered that the programme order of 16 June be varied.
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure that companies operating and earning revenue in the UK do not offshore jobs to reduce tax liabilities; and whether his Department plans to introduce legislative measures to safeguard UK workers from redundancies...
To ask the Secretary of State for Business and Trade, what steps his Department is taking to ensure that companies operating and earning revenue in the UK do not offshore jobs to reduce tax liabilities; and whether his Department plans to introduce legislative measures to safeguard UK workers from redundancies...
Our Industrial Strategy places jobs at its heart, introducing measures to support growth sectors to create high-quality, well-paid jobs across the country, backed by employment rights fit for a modern economy.
The Global Minimum Tax, a 15% effective corporate tax rate on large multinationals in each area they operate in, protects against harmful tax planning and profit shifting.
We are updating the law so that employees must be consulted when redundancies are proposed across an organisation. The specifics of this new requirement will be set in regulations following consultation.
To ask Her Majesty's Government what assessment they have made of the impact of export levies resulting from the UK–EU Trade and Cooperation Agreement on the number of job losses in the UK.
To ask Her Majesty's Government what assessment they have made of the impact of export levies resulting from the UK–EU Trade and Cooperation Agreement on the number of job losses in the UK.
The Trade and Cooperation agreement is unprecedented as the EU’s first trade agreement based on 100% tariff liberalisation. The Agreement ensures there will be no tariffs or quotas on trade between the UK and EU, where goods meet the relevant rules of origin. For goods that do not meet requirements of the rules of origin, depending on the goods’ circumstances, businesses may be able to use existing special customs procedures in place to ease trade between the UK and EU. Businesses will be able to continue to trade smoothly with the EU and explore further opportunities as the UK is now able to strike trade deals with other partners around the world. From financial services through to automotive manufacturing, the deal protects high quality jobs and investment right across the UK.
The Agreement delivers on the Government’s promise to take the UK out of the EU’s customs territory. This means that there will be new customs processes on goods exported from Great Britain into the EU and vice versa. The deal seeks to reduce the costs of these new processes for traders by supporting efficient customs arrangements covering all trade in goods, while ensuring that customs authorities remain able to protect their regulatory, security and financial interests. Both sides have committed to clear documentation efficiently, maintain transparency, and simplify customs procedures wherever possible.
The Government is committed to supporting businesses to adjust to new trading rules with the EU. Border controls will be brought in stages between 1 January 2021 and 30 June 2021 and the Government will continue to provide clear guidance on the actions businesses are required to take by engaging with them and running webinars to support their readiness.
To ask the Chancellor of the Exchequer, what plans his Department has to introduce a tax and National Insurance holiday for people receiving the notice period of pay after being made redundant.
To ask the Chancellor of the Exchequer, what plans his Department has to introduce a tax and National Insurance holiday for people receiving the notice period of pay after being made redundant.
Payments made in lieu of notice are treated as taxable earnings. All employees will pay income tax and Class 1 NICs on the amount of basic pay that they would have received if they had worked their notice in full.
Termination payments such as redundancy payments are subject to a £30,000 income tax exemption. Individuals do not pay National Insurance contributions on termination payments, even if the value exceeds £30,000. This is one of the most generous regimes in the world and means that the majority of individuals receiving termination payments will pay no tax at all.
My Lords, I will now repeat in the form of a
Statement the answer to an Urgent Question made in the House of Commons by the Economic Secretary to the Treasury, John Glen. The Statement is as follows:
“Mr Speaker, this is an uncertain time for our country, but the Government...
My Lords, I will now repeat in the form of a
Statement the answer to an Urgent Question made in the House of Commons by the Economic Secretary to the Treasury, John Glen. The Statement is as follows:
“Mr Speaker, this is an uncertain time for our country, but the Government...
My Lords, I thank the Minister for repeating the Statement. We welcome the Government’s commitment to do whatever it takes during this crisis, and especially the comments about not just standing behind business but standing shoulder to shoulder with businesses and workers and engaging with the trade unions and the...
My Lords, I thank the Minister for repeating the Statement. We welcome the Government’s commitment to do whatever it takes during this crisis, and especially the comments about not just standing behind business but standing shoulder to shoulder with businesses and workers and engaging with the trade unions and the...
I thank the noble Lord for his questions and for the responsible attitude that the Opposition are taking to this emergency. I am afraid that I am unable to give him a timescale at the moment; I can say only that all government departments are working as urgently as they...
I thank the noble Lord for his questions and for the responsible attitude that the Opposition are taking to this emergency. I am afraid that I am unable to give him a timescale at the moment; I can say only that all government departments are working as urgently as they...
I wish to associate myself with the thanks for the Statement. The difficulty is that the people are being laid off now, and those who have no cash are the ones we worry about most. Have the Government considered paying two-thirds of salaries, like the Governments of Denmark and France,...
I wish to associate myself with the thanks for the Statement. The difficulty is that the people are being laid off now, and those who have no cash are the ones we worry about most. Have the Government considered paying two-thirds of salaries, like the Governments of Denmark and France,...
I thank the noble Baroness for her questions. Their extent reveals the number of different sectors of the economy that we will need to look at. As she says, they range from sole traders to small businesses and to the very largest companies. We are looking at a comprehensive package....
I thank the noble Baroness for her questions. Their extent reveals the number of different sectors of the economy that we will need to look at. As she says, they range from sole traders to small businesses and to the very largest companies. We are looking at a comprehensive package....
I wish to make a very minor but important point. At the moment, if a company is insolvent, the workers do not get paid. They can have worked for several weeks up to the date of insolvency but when insolvency comes, their pay is basically at the mercy of the...
I wish to make a very minor but important point. At the moment, if a company is insolvent, the workers do not get paid. They can have worked for several weeks up to the date of insolvency but when insolvency comes, their pay is basically at the mercy of the...
The noble Lord speaks with great authority on these matters. This might be a small point, but I agree with him that it is important. Actually, within my ministerial portfolio I have responsibility for the Insolvency Service, although not for the Treasury and the guarantees that it will provide. I...
The noble Lord speaks with great authority on these matters. This might be a small point, but I agree with him that it is important. Actually, within my ministerial portfolio I have responsibility for the Insolvency Service, although not for the Treasury and the guarantees that it will provide. I...
I declare an interest as a freelance series producer working at Raw TV making content for CNN. The Minister was asked about coverage for the self-employed and freelancers who have been made unemployed and he said that he was looking at that and wanted it done properly. However, these people...
I declare an interest as a freelance series producer working at Raw TV making content for CNN. The Minister was asked about coverage for the self-employed and freelancers who have been made unemployed and he said that he was looking at that and wanted it done properly. However, these people...
I think, again, the noble Lord makes a very good point. We have of course already announced extensions to statutory sick pay and the qualifying period. His points are well made and echo the points made earlier about freelancers. All the different sectors of the economy need to be looked...
I think, again, the noble Lord makes a very good point. We have of course already announced extensions to statutory sick pay and the qualifying period. His points are well made and echo the points made earlier about freelancers. All the different sectors of the economy need to be looked...
My Lords, all legal categories of worker will need income protection in this crisis, but can the Minister say whether the income protection proposals will cover, in the mind of the Government, five particular situations? First, there are those who will be off sick with coronavirus: clearly, they will be...
My Lords, all legal categories of worker will need income protection in this crisis, but can the Minister say whether the income protection proposals will cover, in the mind of the Government, five particular situations? First, there are those who will be off sick with coronavirus: clearly, they will be...
I thank the noble Lord for his question, which illustrates the complexity of the problem, all the different factors that need to be taken into consideration, and how there needs to be a cross-government response, across a number of departments and obviously backed by the Treasury with comprehensive financing. The...
I thank the noble Lord for his question, which illustrates the complexity of the problem, all the different factors that need to be taken into consideration, and how there needs to be a cross-government response, across a number of departments and obviously backed by the Treasury with comprehensive financing. The...
Can my noble friend inform the House whether much broader thinking is now being done by government about employees who are affected by the coronavirus crisis, not just regarding health issues for those self-isolating or who have symptoms, but those who are now affected because they have children at home...
Can my noble friend inform the House whether much broader thinking is now being done by government about employees who are affected by the coronavirus crisis, not just regarding health issues for those self-isolating or who have symptoms, but those who are now affected because they have children at home...
Similarly to the previous question, my noble friend’s question reflects the complexities of the issue and why a comprehensive response is required. We are working on that; we of course have universal credit, the social security system—the welfare system—for people to fall back on, but there are numerous different aspects...
Similarly to the previous question, my noble friend’s question reflects the complexities of the issue and why a comprehensive response is required. We are working on that; we of course have universal credit, the social security system—the welfare system—for people to fall back on, but there are numerous different aspects...
You are not!
You are not!
We are collectively working as hard as we can to come up with the right package as soon as possible.
We are collectively working as hard as we can to come up with the right package as soon as possible.
There are more micro-businesses in Buckinghamshire than in any other county in the country. I pay tribute to Buckinghamshire Business First, which is working extremely hard to try to support them, but may I urge my hon. Friend to take the unique needs of micro-businesses into account in the measures...
There are more micro-businesses in Buckinghamshire than in any other county in the country. I pay tribute to Buckinghamshire Business First, which is working extremely hard to try to support them, but may I urge my hon. Friend to take the unique needs of micro-businesses into account in the measures...