| Previous Section | Index | Home Page |
4 Nov 2003 : Column 629W—continued
National Insurance
Paul Flynn: To ask the Chancellor of the Exchequer how much money he estimates the National Insurance Fund would receive in 2003–04 if those people who are retired but remain in paid employment continued to pay national insurance contributions. [133490]
Dawn Primarolo: The National Insurance Fund in 2003–04 would increase by an estimated £225 million if employees over state retirement pension age were required to pay primary Class 1 contributions.
This estimate is based on April 2003 Budget forecasts.
Norman Lamb: To ask the Chancellor of the Exchequer what proportion of those who did not receive national insurance contributions deficiency notices have received letters notifying them of the contributions needed to secure full entitlement. [136154]
Dawn Primarolo: The Inland Revenue started the exercise to notify working age people about shortfalls in their contributions for the tax years 1996–97 to 2000–01 at the end of October and it is anticipated that all letters will be sent out by September next year. Everyone will have as much time to make voluntary payments, if they want to, as they would have had if the letters had been issued at the normal time, and payment will be at the original rate.
Private Health Insurance
Lady Hermon: To ask the Chancellor of the Exchequer if he will restore tax incentives for pensioners taking out private health insurance; and if he will make a statement. [136228]
Dawn Primarolo: The Government have no plans to restore the tax relief that used to be available on private medical insurance premiums. We remain convinced that the best way to use the resources available to provide health care is by funding the NHS directly for the benefit of all British residents.
Public Borrowing
Mr. Howard: To ask the Chancellor of the Exchequer whether he will measure the surplus or deficit on the current budget between (a) the month in which the present cycle is judged to have started and the month in
4 Nov 2003 : Column 630W
which the present cycle is judged to have finished, (b) the quarter in which the present cycle is judged to have started and the quarter in which the present cycle is judged to have finished and (c) the fiscal year in which the present cycle is judged to have started and the fiscal year in which the present cycle is judged to have finished, for the purpose of assessing whether he has satisfied his golden rule at the end of the present economic cycle. [135777]
Mr. Boateng: Progress against the golden rule is measured by the average surplus on the current budget over the period from the financial year in which the economic cycle starts up to and including the financial year in which it ends.
Mr. Howard: To ask the Chancellor of the Exchequer whether he plans to measure the total surplus or deficit on the current budget (a) in cash terms since the start of the cycle and (b) as a share of GDP in each period covered by the cycle and take the average of these, for the purpose of assessing performance against his golden rule, over the present economic cycle. [135778]
Mr. Boateng: Progress against the golden rule is measured by the average surplus on the current budget expressed as a ratio to GDP over the economic cycle.
Small Business Investment Companies
Mr. Prisk: To ask the Chancellor of the Exchequer if he will make a statement on the timetable for the launch of small business investment companies. [135568]
John Healey: The Government issued a consultation document alongside Budget 2003 called 'Bridging the Finance Gap: a consultation on improving access to growth capital for small businesses'. One of the issues raised by the consultation was the possibility of introducing in the UK a variant of the US Small Business Investment Company programme. The Government are currently considering the responses that they have received from the consultation and will respond to them in due course.
Stamp Duty Land Tax
Mr. Prisk: To ask the Chancellor of the Exchequer whether licences granted to (a) individuals and (b) businesses requiring an interest in land will be exempt from stamp duty land tax. [135603]
Ruth Kelly: The acquisition of a licence to use or occupy land is not in itself a chargeable transaction. However, the acquisition of such licences is often part of a larger transaction, other elements of which may be chargeable.
Mr. Prisk: To ask the Chancellor of the Exchequer what alternative suggestions he has received to the proposal of charging stamp duty land tax on leases other than basing the charge on the net present value of the lease. [135606]
Ruth Kelly: A number of alternative suggestions were received, some based on net present value, some based on average annual rent and some based on a combination of the two.
4 Nov 2003 : Column 631W
Mr. Prisk: To ask the Chancellor of the Exchequer whether assured shorthold tenancies will be chargeable to stamp duty land tax after 1 December. [135623]
Ruth Kelly: The grant of a lease, including an assured shorthold tenancy, is within the scope of stamp duty land tax. Whether there is a charge will depend on a number of factors such as the initial term and the rent payable.
4 Nov 2003 : Column 632W
Mr. Prisk: To ask the Chancellor of the Exchequer whether mineral rights royalties are to be chargeable for stamp duty land tax after 1 December. [135624]
Ruth Kelly: The grant of a lease, including a lease giving the right to extract minerals, is within the scope of stamp duty land tax. Whether there is a charge will depend on a number of factors such as the initial term and the rent payable.