Written questions by Pinkerton.

What recent assessment she has made of the impact of bank branch closures on local (a) residents and (b) businesses in market towns in Surrey Heath constituency.

The Government understands the importance of face-to-face banking to communities, high streets and market towns in Surrey Heath and across the UK, and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with banks to roll out 350 banking hubs, which will provide local residents and businesses up and down the country with critical cash and banking services. Over 220 banking hubs have been announced so far, and over 135 are already open.Banking has changed significantly in recent years with many customers benefitting from the ease and convenience of remote banking. While branch closures are commercial decisions for banks and building societies, FCA guidance expects firms to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and put in place alternatives where reasonable.  This seeks to ensure that branch closures are implemented in a way that treats customers fairly.Alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking and via the Post Office. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK.

What steps she has taken to support people who have experienced long-term (a) financial difficulties and (b) mental health challenges as a result of not qualifying for financial support schemes during the COVID-19 pandemic in Surrey Heath constituency.

The Government is working to support people and improve living standards for everyone across the country. As part of this, the Government committed to making no increase in employee National Insurance, Income Tax or VAT as we want to keep taxes as low as possible for working people. The Government has also put growth as its number one mission, which will help families by boosting wages and putting more money in people’s pockets. The Budget announced a £240 million Get Britain Working package to help people into work which will help to tackle the root causes of economic inactivity and to get those who can work, off benefits and into good employment. Further details have been set out in the Get Britain Working White Paper, published on 26 November 2024. On 1 April 2025, the new National Living Wage and National Minimum Wage rates will come into force, expecting to benefit over 3 million eligible workers. For a full-time worker on NLW, the 6.7% increase of the rate to £12.21 per hour will provide a £1,400 increase to their annual earnings. These increases will ensure that the lowest-paid workers are supported and marks a step towards the government delivering a genuine living wage for all adults. In addition, the Government is also supporting those on low incomes through continuing the Household Support Fund, increasing the Carers’ Allowance weekly earnings limit by nearly 30% from April 2025, and creating a new Fair Repayment Rate ensuring 1.2 million households claiming Universal Credit are on average better off by £420 per year, by capping the amount of debt deductions at 15% of the standard allowance. On mental health, the Government has continued to expand access to mental health support to address the high levels of demand since the pandemic ended. This has included increasing the mental health workforce, treating more people through NHS Talking Therapies and improving urgent and emergency mental health care though new crisis houses and alternatives to A&E as well as making support available to those experiencing a crisis through the new ‘mental health option’ on 111.

What steps she is taking to ensure the independence of the new review on the loan charge.

The Government is committed to an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers. Further details will be set out in due course.

Whether the review into the loan charge will include examining the roles of (a) scheme promoters, (b) umbrella companies and (c) tax advisers.

At Autumn Budget 2024, the Government committed to an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers. Further details about the review will be set out in due course.

What assessment she has made of the potential impact of abolishing the furnished holiday let tax regime on local (a) economies and (b) jobs.

The Government will abolish the Furnished Holiday Lets (FHLs) tax regime from April 2025. This will equalise the tax treatment of FHL and non-FHL landlords’ income and gains.The Government wants to support the visitor economy alongside housing for longer-term residents to rent or buy. Achieving this balance is crucial in supporting the tourism sector, and many of the people who work in the sector need access to local housing.

If she will make an assessment of the potential impact on bicycle sales of the removal of VAT on (a) pedal and (b) electric bicycle.

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. Tax breaks reduce the revenue available for vital public services and must represent value for money for the taxpayer. One of the key considerations when assessing a new VAT relief is whether the cost saving is likely to be passed on to consumers. Evidence suggests that businesses only partially pass on any savings from lower VAT rates. The Government has no current plans to zero-rate VAT on pedal and electric bicycles, but keeps all taxes under review.