Written questions by Reed.

Pursuant to Question 115946 on Students: Loans, whether her Department holds the data requested on the number and proportion of people with Plan 2 student loans who had an effective marginal deduction rate of at least (a) 51 per cent and (b) 71 per cent in the 2024–25 tax year as a result of the combined effects of Income Tax, employee National Insurance contributions and Plan 2 student loan repayments.

Producing an answer to this question would be a significant analytical task at disproportionate cost. We will continue to keep the terms of the system under review to ensure the system protects taxpayers and students now and in the future.

How many and what proportion of people with Plan 2 student loans had an effective marginal deduction rate of at least (a) 51 per cent and (b) 71 per cent as a result of the combined effects of Income Tax, employee National Insurance contributions and Plan 2 student loan repayments in the 2024-25 tax year.

The Plan 2 Student Loan Scheme was introduced in 2012 under the Conservative and Liberal Democrat Coalition Government. The student finance system is heavily subsidised by government, and lower-earning graduates will always be protected, with any outstanding loan and interest cancelled at the end of the repayment term. It is right that those who are able to repay loans do so. We will continue to keep the terms of the system under review to ensure the system protects taxpayers and students now and in the future.

What assessment her Department has made of the potential impact of spirits duty on the commercial relationship between UK distilleries and pubs.

The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.

What assessment she has made of the potential impact of linking spirits duty to inflation on the viability of pubs.

The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.

What assessment she has made of the potential impact of spirits duty increases on levels of pub closures in the last three years.

The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.

What assessment she has made of the potential impact of spirits duty increases on the viability of pubs in rural communities.

The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.

What assessment her Department has made of the effectiveness of spirits duty policy in supporting the economic sustainability of pubs.

The Chancellor makes decisions on tax policy at fiscal events, with Tax Information and Impact Notes (TIINs) published alongside these announcements.

What steps her Department is taking to (a) encourage (i) investment in infrastructure and (ii) economic growth and (b) support local businesses in Exmouth and Exeter East constituency.

As part of the Budget, this Government announced an over £100 billion increase in departmental capital investment over the next five years compared to plans the government inherited.The government has committed £640 million in Bus Service Improvement Plan funding to improve bus services; £650 million of funding for local transport beyond our city-regions to improve connectivity in towns, villages and rural areas; and support for the first round of electrolytic hydrogen production projects, including a first of its kind project in Devon. This government has confirmed the establishment of a County Combined Authority in Devon and Torbay, giving local leaders the power to make decisions that benefit their communities, boosting economic growth and driving reform. We are encouraging local leaders in Devon and Torbay to deepen and widen their existing devolution agreements and take strides towards mayoral devolution as a gold standardAlongside this, the government set out plans for the 10-year infrastructure strategy. This will boost investment and growth in the South West and across the country, providing certainty and stability for the supply chain, and helping to unlock private investment. To give businesses the certainty and stability to invest, the Government is developing a modern industrial strategy and creating the National Wealth Fund to support its delivery and mobilise billions of pounds of investment in the UK’s growth industries. The Government owned British Business Bank is also investing over £1billion through their regional Investment Fund programmes, supporting growing businesses across Devon.

What steps she is taking to support SMEs in the (a) technology and (b) research and development sectors, in the context of the Autumn Budget 2024.

At Budget, Government protected record levels of investment with £20.4bn for R&D in 2025/26, on top of support provided through the tax system. The government is supporting commercialisation of our world-class university research by providing at least £40 million over 5 years for proof-of-concept funding and improvements to support for researchers spinning out the UK’s cutting-edge research into firms of the future.We also announced that we are extending Made Smarter Innovation with up to £37m funding, and funding for the Made Smarter Adoption programme will double to £16 million in 2025-26, supporting more small manufacturing businesses to adopt advanced digital technologies and enabling the programme to be expanded to all nine English regions.Furthermore, the SME Digital Adoption Taskforce will be extended and will produce an interim report early in 2025 with practical steps and recommendations to enhance SME adoption of digital technology using insights from local and international experiences. To further support small businesses, DBT will shortly be announcing details on a £4m pilots package to encourage tech adoption for SMEs.

What estimate her Department has made of the number of farmers affected by the withdrawal of Agricultural Property Relief in (a) East Devon and (b) Exmouth and Exeter East constituency.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief. Around 500 estates across the UK are expected to be affected each year from 2026-27. In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.

If she will make an assessment of the potential impact of changes to Agricultural Property Relief on tenants' access to (a) land and (b) secure tenancy agreements.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief. Around 500 estates across the UK are expected to be affected each year from 2026-27. In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.

With reference to paragraph 2.40 of the Autumn Budget 2024, published on 30 October, whether she has made an assessment of the long-term impact of national insurance increases on the ability of SMEs to invest in (a) growth, (b) innovation and (c) job creation.

The Government has protected the smallest businesses from the impact of the increase to employers’ National Insurance by increasing the Employment Allowance from £5,000 to £10,500, which means that 865,000 employers will pay no employer NICs at all next year. More than half of employers will see no change or will gain overall from this package and eligible employers will be able to employ up to four full-time workers on the National Living Wage and pay no employer NICs.A Tax Information and Impact Note regarding these changes was published by HMRC on 13 November.

What fiscal steps she is taking to encourage (a) innovation and (b) entrepreneurship among SMEs.

Small businesses and entrepreneurs are vital to high streets and communities, and essential to the success of the Government’s growth mission.At the Budget, the Government announced we would be continuing funding for key business support programmes in 2025-26: Growth Hubs in England, and the Help to Grow: Management programme. We also announced we are extending Made Smarter Innovation with up to £37m funding. Funding for the Made Smarter Adoption programme will double to £16 million in 2025-26, supporting more small manufacturing businesses to adopt advanced digital technologies and enabling the programme to be expanded to all nine English regions.Prior to the Budget, the Government also extended the Enterprise Investment Scheme and Venture Capital Trust schemes to 2035. The schemes are designed to encourage investment into new or young companies through tax-relief incentives, encouraging innovation, creating jobs and stimulating economic growth.

What assessment her Department has made of the potential impact of changes to agricultural property relief on the sustainability of domestic food production.

The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms, and further explanatory information at https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief. Around 500 estates across the UK are expected to be affected each year from 2026-27. In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.