Nigel Huddleston
MP for Droitwich and Evesham · Conservative · United Kingdom
“The Minister cannot stand at the Dispatch Box and say that the Government are not imposing local government reorganisation, and then say that the status quo is not an option. Is he fully aware of the chaos, cost and uncertainty that this indecision is causing in Worcestershire?”
House of Commons29 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We have heard several times today about the importance of making informed decisions, but we cannot make informed decisions unless we are properly informed in the first place.”
House of Commons26 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Prime Minister has adopted a fascinating negotiating strategy by revealing his hand and goals in advance of any discussions with the EU. Is he aware that the price of any deal therefore went up with every word that he said?”
House of Commons12 October 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“As you know, Madam Deputy Speaker, I love to do everything I can to support our pubs and hospitality industry—and I do mean everything. I am pleased to represent an area of the country that has many fantastic pubs, many of which are participating in my current “Pub of the Year” competition, and voting is now open.”
House of Commons10 September 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Commercial radio shares much of the same transmission infrastructure as DTT; if there were a switch-off, the costs that are currently shared between television and radio could instead be transferred to radio broadcasters, creating a significant new cost burden from 2035 onwards and potentially increasing transmission costs by more than 50…”
House of Commons8 September 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That will take place in either 2034 or 2044, and it could have a profound impact on remote and rural communities in particular, such as parts of my Droitwich and Evesham constituency. Secondly, I am concerned about the thorny issue of prominence.”
House of Commons8 September 2026Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
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“Members for Loughborough (Dr Sandher), for Portsmouth North (Amanda Martin), for Swindon North (Will Stone), for Chelmsford (Marie Goldman), for Southend East and Rochford (Mr Alaba), for Woking (Mr Forster), for Rother Valley (Jake Richards), for Wokingham (Clive Jones), for Dudley (Sonia Kumar), for Rochester and Strood (Lauren Edwards), for Plymouth Moor View (Fred Thomas), and for Northampton North (Lucy Rigby). They have made incredible contributions. The breadth of experience that they bring to this Parliament is astounding, and I am largely talking here about Government Members. I say it with a great degree of respect, because in many circumstances—in fact, in nearly every single circumstance—they have replaced good friends of mine who contributed significantly to this House.”
House of Commons4 September 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We have Third Reading as well, so let us enjoy ourselves. Just because the Government keep repeating the narrative does not make it true. I am sure they will continue to do so, but the £25 billion of additional spending that I have just outlined is a choice they have made. The arguments they are having to make—that they are having to cut payments to pensioners in response to the circumstances they have inherited—are not true because, as I outlined in my opening speech, it is a deliberate, long-stated policy choice articulated by the current Chancellor a decade ago. It is not a response to circumstances, but deliberate Labour policy. On a more positive note, I congratulate all those who have made their maiden speeches today: the hon.”
House of Commons4 September 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I congratulate the Chancellor and the entire Treasury team on their appointments. We have always had civil, albeit occasionally robust, interactions, and I am sure that will continue, but it is now our job to hold them to account for the important decisions they make at the Treasury. During the election, Labour promised on more than 50 occasions not to increase taxes on working people. Does it now recognise that working people have pensions too, and can the Chancellor give those people, who are saving for the future, peace of mind by confirming that the Government will not increase taxes on pensions in the upcoming Budget?”
House of Commons3 September 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That is the largest ever cut to employee and self-employed national insurance, and this Bill furthers the work done on rewarding work by increasing the high income child benefit charge threshold from £50,000 to £60,000. In addition, the rate of the charge will be halved, so that child benefit is not repaid in full until someone earns £80,000, taking 170,000 families out of paying this tax charge. Some 485,000 families will benefit by an average of £1,260 from these child benefit changes.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Moving on to the politics and policy of today, this Bill helps to deliver the priorities of the Prime Minister and the Government following the autumn statement and the spring Budget. The economy has vastly improved. It is growing again. Real wages are increasing and, as we found out this week, inflation is down to its lowest figure in nearly three years. The Finance Bill builds on that economic improvement by rewarding work, encouraging investment in our economy and boosting home ownership. As the two recent fiscal events outlined, we have rewarded work by making national insurance tax cuts. Some 27 million employees will get an average tax cut of £900 a year, and 2 million self-employed people will get a tax cut averaging £700.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I beg to move, That the Bill now be read the Third time. May I take the opportunity to thank you, Madam Deputy Speaker, and the other Madam Deputy Speaker for your professionalism, kindness and robustness in this place? You will be sorely missed, and I express my appreciation to all those who have announced that they will be standing down at this election and thank them for their service in this House. I think I speak for everybody when I say that everybody who comes into this place does so with very positive motivations, because they want to make the world a better place for their children and grandchildren. That may sound trite, but it is a motivation we all share. We may disagree on the route to achieve that, but anybody who comes into this place does so with incredible professionalism, and we should all thank them for that service.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Bill rewards work, encourages investment in our economy and boosts home ownership. It is part of the Government’s clear plan of action. For those reasons, I commend it to the House.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That change will ensure that, for example, victims of domestic abuse are not unfairly penalised if they wish to buy their first homes anonymously. It will ensure that those in difficult circumstances do not face additional barriers to purchasing homes. The Bill will also make the tax system fairer by closing tax avoidance loopholes and making relevant changes to VAT. I thank right hon. and hon. Members from across the House for their helpful and insightful contributions to the debates during the Bill’s quicker than expected passage. I thank the many stakeholders who have provided their views on the issues raised and provided evidence to the Public Bill Committee, as well as Treasury and HMRC officials and, of course, the House Clerks and officials who have supported us in getting the Bill to this point so quickly.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We need to ensure that the property system is fit for purpose. The Government are clear that where policies are not meeting their objectives, we will take clear and decisive action. That is why we are abolishing multiple dwellings relief—a bulk purchase relief in the stamp duty land tax regime—from 1 June 2024. Abolition follows an external evaluation that found no strong evidence that the relief is meeting its original objective of supporting investment in the private rented sector. His Majesty’s Revenue and Customs has recorded many instances of abuse and attempted abuse. We are amending the rules so that individuals buying a new lease over a leasehold residential property through a nominee or bare trustee will be able to claim first-time buyers’ relief on their stamp duty land tax bill.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We will further support the UK’s independent film sector through a new UK independent film tax credit, at a rate of 53% for films with lower budgets. That will support the production of UK independent films and the incubation of UK talent. Our creative sector is vital to our national life, and the Government are committed to supporting UK businesses in the sector. This is also a Bill that will boost transactions in the housing market. It will cut the higher rate of capital gains tax on residential property from 28% to 24%, encouraging landlords and second home owners to sell their properties, which would in fact increase revenues because there would be more transactions. That will make more homes available to purchase for a variety of buyers, including, of course, first-time buyers.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I thank the hon. Gentleman for his gracious and pertinent intervention, as ever. I thank him and all those who have campaigned for this change, because we know it will make a difference to the budgets of many households across the country in what we recognise are still challenging times. The Bill will drive investment in the economy through various measures, including additional support for our world-leading creative industries, and we are making tax reliefs for theatres, orchestras, museums and galleries permanent, at a rate of 45% for touring theatres, museums, galleries and touring productions, 40% for non-touring productions and 45% for orchestras. That will ensure that our creative industries have the support they need after the unprecedented economic shock of the pandemic.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Despite the challenges of the past few years, we are now on a clear path to recovery: the economy is growing again; inflation is falling; real wages are increasing; and people who look at their pay packet will see that their national insurance taxes have been cut too. That is more money in people’s pockets because of the actions and decisions of this Government—we have a plan, whereas the Opposition do not. We cannot put that at risk, so stick with the Conservatives for a brighter future. I commend this Bill to the House. Question put , That the Bill be now read the Third time.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“With our childcare measures and the child benefit changes in this Bill, it is clear that when they bring children into this world, we are there for them. Through our national insurance cuts and our measures to support businesses, it is clear that we are there for those in work or running a business. If they have finished work and have retired, we have shown through the triple lock and other measures that we are always there for them. We can have strong public services and a strong welfare system that helps the most vulnerable in society only if we also have a strong economy to generate the taxes to pay for them. A strong recovery is vital for both the public and the private sector. That means that we on this side of the House are unapologetically pro-business.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Will it return to free movement and the single market? Maybe not. Will it abolish universal credit? Maybe not. Will it increase income tax on top earners? Maybe not. Rent caps, the ultra low emission zone, bankers’ bonuses and zero-hours contracts—we have had constant flip-flops from the Opposition. Not even they know what their actual policy is. It completely lacks credibility. As I said, they cannot expect the British public to be taken for such a ride. The British public know where they stand with the Conservatives, because we have a plan. They can see it in the recent autumn statement, the spring Budget and this Bill. No matter what stage of life they are at, they can be confident that the Conservatives are there to support them.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The hon. Gentleman and his colleagues keep repeating the mantra of “a changed Labour party”. Maybe in some ways that is true. Labour has certainly gone from embracing the hard left of British politics to embracing the hard right. That unbelievable journey speaks volumes about Labour’s values: it has none. Or, as the old saying goes, “These are our values. If you don’t like them, don’t worry: we have others.” On policy, too, there is a constant string of flip-flops, U-turns and uncertainty, which I am sure we will see during the general election. We will be holding Labour to account. For example, Labour has abolished its £28 billion green spending commitment, but it seems to have retained the policy. Is Labour abolishing tuition fees? Maybe not. Will it abolish the House of Lords? Maybe not.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Gentleman is hoping to alarm, disturb and depress the British public into voting Labour, which is not a particularly bright strategy. The British public deserve better, and we need to hear confidence and optimism, not pessimism, about the UK economy. I will not repeat the comments I have made on many occasions about Labour’s ridiculous scaremongering on the national insurance cuts and the impact they could have on pensions. He knows that the cuts will not have a negative impact on pensions, for the obvious reason that I had hoped he would now understand. National insurance does not wholly pay for pensions, welfare or the NHS, so why on earth is Labour going around the country trying to scaremonger old people and people who rely on the NHS into believing otherwise? I do not know. It is not an admirable way to try to win an election.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Every single time I have appeared at the Dispatch Box, the hon. Gentleman has complained about the Government not calling a general election, and now that we have called a general election, he is still complaining. That really takes the biscuit. He continued with his familiar refrain; he never misses an opportunity to talk Britain down. I refer him to my earlier comments about our interventions during the pandemic and their immense £400 billion cost to the UK economy. I do not believe the Opposition opposed a single one of our interventions at the time, so it is a bit rich to complain about the obvious impact on taxation. If he had an alternative plan, I would have loved to have heard it then, and I would love to hear it now, but it is non-existent. The hon.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“We are engaged in discussions with stakeholders, including some of the bodies that he has mentioned, because we do not want there to be unintended consequences. We appreciate their input on this Bill, as always. I thank my hon. Friend for his fantastic interventions, as always. He is an amazing MP for his constituents, and I always appreciate his contributions. I thank the hon. Member for Ealing North (James Murray) for his gracious comments. He is correct that what is written in Hansard and what the public see of our sometimes rather robust debates is not always a reflection of our generally positive relationships on a personal level. However, that does not mean we do not have robust disagreements on policy, and I am afraid that I will have to raise quite a few points of disagreement today.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I can give him some reassurance, though. The multiple dwellings relief is being abolished for very good reason: it is not working as intended. Of course, a considerable amount of money is involved. When we spend taxpayers’ money or allow a relief, we need to make sure that it has the intended impact. The relief was not working as intended, and was subject to considerable abuse, so we are abolishing it. However, I can give my hon. Friend some assurance, particularly on certain issues that he mentioned. For example, large investors, including those in the build-to-rent sector who purchased six or more properties in a single transaction, can still continue to benefit from the non-residential rates of stamp duty land tax, which can be quite beneficial.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Opposition consistently seem to have a collective sense of amnesia, and have completely forgotten the last five years and the global challenges that all economies faced, with the pandemic followed by the global cost of living crisis. This Government have had to intervene in a way that nobody anticipated. It meant that taxes had to be higher, but as soon as we get the opportunity—as soon as we have the choice—to bring them down, that is exactly what we will do, because we know how difficult this has been for people and want to put more money in their pockets as soon as we can. We have a plan, and it is working. I always respect the opinions and views of my hon. Friend the Member for Waveney (Peter Aldous), and I am never alarmed or disturbed by his frequently holding me, and the Government, to account for policy decisions.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I disagree with many of the hon. Lady’s other comments. On who is better off, 27 million workers are better off because of the national insurance cut, and 2 million self-employed people are better off. If she does not believe that, I suggest that she looks at her payslips; she will see that national insurance is going down. That makes a meaningful difference. She may be sniffy about it, but £900 is a meaningful difference for an average worker—for many of my constituents, and constituents across the country. For those not in work, of course, we also increased benefits by 6.7%, and pensions by 8.5%. We Conservatives always make sure that all people in society are looked after. The hon. Lady made comments about support with the cost of living.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I thank those who contributed to the debate, and, of course, those who have contributed to debates on the Bill throughout its progress. I turn first to comments made by the hon. Member for Aberdeen North (Kirsty Blackman). I respect her views about scrutiny of Bills in this place. However, I hope that she recognises that finance Bills often contain many, many clauses, some of which have been developed over many years, been subject to multiple consultations, and had a huge amount of input. I appreciate that she acknowledged that a lot of written evidence, which is hugely valuable and very much appreciated, is also provided. The fact that she and her colleagues are pressing for a Division on the Bill this evening evidences that there is scrutiny, holding to account, and a diversity of opinion on these matters.”
House of Commons23 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“In saying things like “People don’t care” or “The Government don’t care,” I am afraid he is straightforwardly wrong.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That includes around 170,000 individuals who will no longer be liable for HICBC, and 135,000 individuals currently paying the HICBC who will have it reduced. The remaining 180,000 are the families currently not claiming child benefit or families opting out of getting child benefit payments who are now eligible to receive payments without incurring a tax charge. The increase in the HICBC’s adjusted net income threshold reaffirms the Government’s commitment to rewarding working families, by allowing them to keep as much of their hard-earned money as possible in a sustainable way. I therefore commend the clause to the Committee.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The changes will ensure that the HICBC continues to withdraw child benefit from high-income families, as it was designed to, without unfairly penalising those on middle incomes. By halving the rate at which HICBC withdraws the child benefit gain, the Government are improving people’s incentives to continue working or to take up more hours. The Office for Budget Responsibility estimates that, as a result of both changes, those already working will increase their hours by a total equivalent to those of around 10,000 full-time individuals by 2028-29. The changes made by clause 5 will have a positive impact for around 485,000 families, who will gain an average of £1,260 in 2024-25, which they can put towards the cost of raising their children.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That means that 1% is withdrawn for every £200 of income that exceeds £60,000; previously, the rate was 1% for every £100 of income that exceeded £50,000, and child benefit was fully removed once individuals earned £60,000 or above. The HICBC is a tax charge and was introduced in January 2013 for recipients of child benefit payments, or their partners, on higher incomes. It applies where the highest earner has an adjusted net income—that is, their total taxable income, less certain reliefs, such as pension contributions—above the threshold, which is rising to £60,000. For individuals with incomes above the top of the taper, which is rising to £80,000, the tax charge is equal to the full amount of the child benefit payment.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is a pleasure to serve under your chairmanship, Mrs Latham, and I thank all hon. Members for their participation in today’s debate. I also thank those who have submitted written evidence on a variety of the clauses we will discuss today, including the Institute of Chartered Accountants in England and Wales, the Chartered Institute of Taxation, the Low Incomes Tax Reform Group and others, and all those who have contributed to consultations as part of this Finance Bill process. Clause 5 makes changes to the high income child benefit charge, or HICBC, as it is commonly called. It increases the threshold at which child benefit begins to be withdrawn, from £50,000 to £60,000. The Government are also increasing the threshold at which child benefit is fully withdrawn, from £60,000 to £80,000.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“There have already been significant communications on the changes to HICBC. There has been a lot of online and offline activity from His Majesty’s Revenue and Customs, various Government Departments and others. The campaign to raise awareness also includes working with, for example, parenting platforms such as Bounty and Emma’s Diary, and issuing emails through third party partners, including childcare providers. The hon. Gentleman raised an important point about not just making the changes, but ensuring that everybody is aware of them, so that everybody who is intended to benefit is able to. Question put and agreed to. Clause 5 accordingly ordered to stand part of the Bill. Clause 6 Reduction in higher CGT rate for residential property gains to 24% Question proposed, That the clause stand part of the Bill.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“However, the Government announced in July last year that we are taking steps to allow newly liable taxpayers to pay the HICBC through their tax code without the need to register for self-assessment. Further details on this improvement will be shared in due course. The hon. Gentleman also mentioned the consultation on moving to a household basis. We will announce further details of the consultation in due course and, as with all tax policy, any changes would be considered as part of future fiscal events. The Chancellor announced that the Government will be consulting on moving the HICBC to a system based on household incomes, and that change will be delivered by April 2026. If the hon. Gentleman is patient, we will announce further details on that consultation in due course. A point was made about communication.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The changes that were announced will reduce the total marginal effective tax rates, which includes income tax, employee national insurance contributions and HICBC, from about 64% to 53% for someone with, for example, two children. That is a good thing. We recognise that high marginal rates introduce complexity to the tax system, but that needs to be weighed against other considerations when designing tax policy. The Government must ensure sure that they are committed to a fair tax system that supports strong public finances. Individuals will, as the hon. Gentleman pointed out, still be required to submit a self-assessment tax return to declare and pay their HICBC liability.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It is a meaningful amount of money for a large number of people, and it comes on top of the many other support measures that we have introduced. I thank the hon. Member for Ealing North for pointing out the easements and the fact that there will be automatic backdating. Hopefully, that will be a relief and good news, and be positive for many families. Child benefit is normally backdated by three months, but because of the timing of the implementation, some could overlap two tax years. We are trying to make that simple and bring it into one tax year. The hon. Gentleman mentioned the increase from £60,000 to £80,000 and the impact on marginal rates.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Gentleman will be well aware that, as we have discussed on multiple occasions, the reason why taxes are higher than any of us would desire is the level of intervention required to support households and livelihoods during the pandemic and, more recently, the cost of living challenges since the invasion of Ukraine and the energy price shocks in particular. I would make a similar point to the hon. Member for Inverness, Nairn, Badenoch and Strathspey, who also made those points. I remind him that we have made interventions in cost of living support to the tune of about £100 billion. With respect, half a million people will benefit from the changes that we are introducing. HICBC is not a small amount.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I thank my opposite numbers for their comments. I respectfully disagree with several of their points, and I will remind my opposite number, the hon. Member for Ealing North—as I do on almost every occasion—of the significant changes to the income tax threshold that the Conservative Government have brought in. It was £6,475 under Labour; it is now £12,570. That is a significant increase and it has taken many people out of paying income tax altogether, which is something we are very proud of. The hon.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The measure also changes the definition of first-time buyers to ensure that individuals who use such arrangements cannot claim relief more than once. First-time buyers’ relief from SDLT is available where an individual who has not previously owned a dwelling purchases a home they intend to use as their only or main residence, but that is not currently available to individuals purchasing a new residential lease through a nominee or bare trustee. The changes made by clause 8 will benefit certain first-time buyers of residential leasehold properties purchasing through a nominee or bare trustee, reducing the up-front cost of buying a home by allowing them to claim the relief they are entitled to. The changes bring those purchasers in line with purchases of residential freeholds and pre-existing leases using similar arrangements.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“It will only increase the stamp duty payable by individuals or businesses purchasing two or more properties in a single transaction or as part of the same deal. Individuals or businesses purchasing six or more dwellings will continue to qualify for the non-residential rates of SDLT. Clause 8 makes changes to ensure that first-time buyers’ relief from stamp duty land tax can be accessed by those purchasing new residential leases through a nominee or bare trustee, including victims of domestic abuse. A nominee is a person who holds the legal title of a property, while the beneficial ownership—the person who ultimately owns or controls the assets—is held by another person. A bare trust is a trust under which property is held by a person as trustee for another person who is fully entitled to all of the capital and income of the trust.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“His Majesty’s Revenue and Customs has seen a high number of incorrect and abusive claims for the relief. Those have been driven by tax repayment agents, who often convince private individuals to make relief claims for the purchase of two dwellings when individuals have in fact only purchased one. One such example is somebody buying a large house with a separate indoor entertainment area, including a swimming pool and toilet, and that being counted as two properties when it is transparently one. The changes made by clause 7 will abolish multiple dwellings relief for property transactions that complete on or after 1 June 2024. However, for contracts that were exchanged on or before 6 March 2024, relief will continue to apply regardless of when the contracts complete. The change will not impact those purchasing a single property.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“There will be no change to the lower rate of 18% for private residence relief. Clause 7 concerns multiple dwellings relief, or MDR, which is a bulk purchase relief in the stamp duty land tax regime. The clause abolishes multiple dwellings relief from 1 June 2024. Multiple dwellings relief allows anyone purchasing two or more dwellings in a single transaction or in linked transactions to calculate their stamp duty based on the average value of the properties purchased, as opposed to their aggregate value. Multiple dwellings relief was introduced in 2011 with the intention of promoting investment in the private rented sector, but a recent external evaluation found no strong evidence that it has done so, meaning that the relief is not cost-effective and is therefore not acting as intended.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Where a disposal is liable to CGT, gains are taxed at a lower rate of 18% for any gains that fall within an individual’s basic rate band and at a higher rate for any gains above that. The 28% higher rate was deterring some sales of residential properties, so the Government announced a 4 percentage point cut to the higher rate at spring Budget 2024. That will encourage more landlords and second home owners to sell their residential properties, making more homes available to the market for a variety of purchasers, including first-time buyers. The OBR forecasts that there will be around 60,000 more residential property transactions over the next five years owing to the cut. As more homes are bought and sold, the Exchequer is expected to raise an additional £690 million in revenue over that period.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Clauses 6 to 11 are related to the property tax measures in the Bill. I hope that Members will forgive me, but this is a slightly longer speech, as I will talk through each clause. Indeed, it is the longest speech that I plan on giving today, although it is not too long—please do not have a heart attack; I will not be reading every one of these pieces of paper. Clause 6 cuts the higher rate of capital gains tax, or CGT, charged on residential property gains from 28% to 24% from 6 April 2024. CGT is of course charged on the disposals of buy-to-lets and second homes. Main homes are exempt through private residence relief, which means for that the majority of residential property sales no CGT is paid at all.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Clauses 7 to 11 ordered to stand part of the Bill. Clause 14 Additional relief for low-budget films with specified UK connection Question proposed, That the clause stand part of the Bill.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The Government are continuing to engage with stakeholders in the build-to-rent sector and other sectors to ensure that we understand their concerns and we will continue to listen to representations made to highlight any exception or unforeseen impacts that the abolition of MDR could have in the future. I welcome the hon. Gentleman’s welcoming of many of the other measures. He asked whether they would be applied before the April deadline. They will not be applied retrospectively—for example, the updates on the registered social landlord exemption will not be applied retrospectively. The hon. Gentleman mentioned the number of public bodies that have paid stamp duty at the 15% higher rate. The number of transactions—of those impacted previously —has been very small, and we therefore do not anticipate a huge impact.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Gentleman raised about MDR and other measures, it is interesting that although there are examples of abuse, it is also the case that only 32% of businesses buying property to let said that this relief had an important influence on their purchase decision at all and only 45% were aware of multiple dwellings relief before making a purchase decision. That feeds into the overall picture of MDR not fulfilling the original intent and purpose, which of course was to support investment in the private rented sector. Again, it is building the picture that the relief is no longer cost-effective.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“If I may respond briefly, I will answer the perfectly reasonable questions raised by the hon. Member for Ealing North in relation to several points in multiple areas. Regarding the overall impact, and if I may reference the change of the capital gains tax rate from 28% to 24%, the OBR estimates that this costing will have a positive impact beyond the current forecasting period and generate a small long-term yield, too. Of course, beyond the forecasting period, it is difficult to estimate the exact amount. On the points that the hon.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“That translates into £31.80 back for every £100 spent, after accounting for corporation tax at 25%. Films will also need to meet the criteria of a new British Film Institute test, with the expectation that films will have either a UK writer, a UK director or be certified as an official co-production. Clauses 14 to 15 set out the bulk of the measure, but further detail, including on the additional test, will be provided in a statutory instrument in due course. Productions that start principal photography from 1 April 2024 will be eligible, and companies will be able to make claims from 1 April 2025 on expenditure incurred from 1 April 2024. The UK independent film tax credit is a transformational, generous, enhanced tax credit, which will boost the production of UK independent films and incubate UK film talent.”
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“Clauses 14 and 15 make changes to better support the UK independent film industry. That is in recognition of the sector’s cultural importance and its role in growing and supporting UK talent. The Government have heard from several representatives of the British film industry, including the British Film Institute, about the specific challenges that the independent film industry faces. The Government also recognise the vital role that independent film plays in incubating UK talent. The changes made by clauses 14 and 15 substantially increase the level of audio-visual expenditure credit available to smaller budget films from 34% to 53%. This increased rate for qualifying films is referred to as the UK independent film tax credit. The 53% tax credit will be applied on up to 80% of a film’s production costs, up to a cap of about £15 million.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Gentleman to be a little patient and wait for the details in the statutory instrument, but we are consulting key stakeholders on that. Question put and agreed to. Clause 14 accordingly ordered to stand part of the Bill. Clause 15 ordered to stand part of the Bill. Clause 16 Increase in theatre tax credit Question proposed, That the clause stand part of the Bill.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“I thank the Opposition for their support. I think there is agreement across the House on the vital role of the world-leading UK creative industries, and, in particular, our thriving film sector. In answer to the broad question put by the hon. Member for Ealing North, further information will provided by a statutory instrument that we will discuss in due course. His Majesty’s Revenue and Customs will have a role in that, and the precise resource allocation is an operational decision for it. As the Minister who oversees HMRC, I will pay close attention to the issue and I will ensure that it is properly resourced. This is a very important policy area and we want to ensure that it is successful. Again, I am afraid that I will ask the hon.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“Clause 18 removes the expiry date of the museums and galleries exhibition tax relief so that the relief similarly becomes permanent rather than ending on 1 April 2026. The changes will benefit approximately 1,300 theatre companies, orchestra companies and museums and galleries that claim those tax reliefs on an annual basis. Our creative sector is vitally important to our national life and one of the fastest growing sectors in the UK economy. These clauses will bolster our theatres, orchestras and museums and galleries, ensuring that they remain among the best in the world. I commend the clauses to the Committee.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗
“The orchestra, theatre, and museums and galleries exhibition tax reliefs have had rates of 45% for non-touring productions and 50% for touring productions and orchestral productions since October 2021, reflecting the unique challenges faced by those sectors during the covid-19 pandemic and the recovery period, which of course we are still in. The rates were due to be reduced to 30% and 35% on 1 April 2025 and then return to their original levels of 20% and 25% on 1 April 2026. Clauses 16 and 17 change that so the tax reliefs will reduce to only 40% for non-touring productions and 45% for touring productions and orchestral productions on 1 April 2025, and will then remain at that level permanently. That was a key ask of the sector.”
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“We are powering through this— I have on my notes “tea break” by now, but it is not going to happen. That is no bad thing, and I appreciate the comments and input from hon. Members. I will repeat my thanks as well—a lot of work has gone into the measures that we are discussing today and many stakeholders have already contributed significant amounts, including through consultations. One such area is what we are debating now: clauses 16 to 18 make changes to ensure that our world-leading theatres, orchestras and museums and galleries may continue to put on outstanding home-grown productions and attract inward investment.”
House of Commons21 May 2024Contains Parliamentary information licensed under the Open Parliament Licence v3.0Source ↗