Speeches by Yang.

“I have one last question on this theme. We discussed earlier the question of whether it is well-off families who are benefiting more. We know that low-income families tend to be more risk-averse. One of the sessions on the lifetime ISA that we held with a panel of consumer champions talked about the deterrent effect of…”

“Has that data been collected over time with the intention of assessment and analysis of the benefit, or is it collected just as a by-product of HMRC’s tax returns?”

“It just strikes me that the collection of data and the design of the data collection has not necessarily been done with impact assessment in mind. That is the case not just for this particular tax credit, but for over 1,000 tax reliefs that remain in the Treasury and HMRC’s hands. I just wanted to register that concern…”

“Thank you, Minister. We have touched on the withdrawal charge, and I have a few questions about that, but I just wanted to give you the opportunity to summarise in one place what you see as the main benefits, in terms of the behaviour that the charge is intending to drive, and the main harms of the withdrawal charge as…”

“Is that in order that people use the product for that intended purpose?”

“Do you see any harms with the charge as it is designed right now?”

“Ms Webster, as you have described, you would suspect, based on the quantities involved, that many people are incurring the charge because they have suffered an unfortunate life event and they have had to rely on their savings. That could be a boiler breaking, as the Minister mentioned, or something else happening in th…”

“Perhaps we can talk about the level of risk. As you mentioned—”

“Perhaps we can turn to the question of the level of the penalty charge. With the 25% charge, as you mentioned, Minister, right now anyone withdrawing for whatever reason will lose not just the government bonus but also part of the capital that they invested in the first place, 6.25% of it. During the pandemic, there wa…”

“Ms Webster, you have seen the charge over its different evolutions. Do you have any analysis or any views on the benefits and costs of the different levels of charge?”

“Another savings vehicle might be more appropriate for that group. Is that what you are saying?”

“Ms Webster, I have a question about the structure of assessment of tax reliefs versus spending lines. The lifetime ISA has just had its eighth birthday. We have just heard about the great research that HMRC is doing that we will hear from in due course. If this had been structured not as a tax relief or as a tax benefi…”

“Does that mean that for the million or so people who hold lifetime ISAs there would be ongoing collection of data on their use and, if so, whose departmental responsibility is that?”

“I join my hon. Friend the Member for Sheffield Central (Abtisam Mohamed) in her thanks to the Minister and the Foreign Office. Since arriving home yesterday I have been inundated with support from MPs, hundreds of whom have written to me personally to express their solidarity. That outpouring of support has come from a…”

“Is there an assessment, outside of the OBR, of how many people will be back in work as a result of the PIP eligibility reforms?”

“I just echo Ms McEvoy’s concern that constituents in many of our constituencies feel that there is a downside risk, in that they feel that the criteria scoring is now quite clear in terms of who might miss out on the four points criterion, and who might have two or three points in different areas, but the upside gain i…”

“Hypothetically, what would you say to somebody who writes to me, or to other MPs, thinking that they may lose this benefit? Would you say that the final assessment format is not yet out there, that there is no clear line about who is or who is not going to lose it, and that they should wait for the process? Is that the…”

“Thank you, Chancellor, for coming before us with your team. I was in the audience when the Prime Minister announced his key milestones for this Government at the end of last year, including the twin economic milestones of higher growth and higher living standards in every region of the country. Can you set out why it w…”

“Do you know how much of that £500 comes from the imputed measures, or is that something that you will set out to the Committee later in writing?”

“I have a question about getting people back into work, since expanding the capacity of the economy across all regions is a really important mission for this Government. I am a bit concerned about the data in the ONS labour force survey, as the Committee has quite thoroughly covered. I am glad to see the Cabinet Office …”