(22)
Application to Scotland of
HMRC
’s set-off debt collection powers – The government will legislate to ensure that
HMRC
’s ability to offset and collect debt owed to it against its outgoing payments covers Scotland as well as the rest of the UK, as intended in Finance Act 2008. (Finance Bill 2016)
Apprenticeship levy – The government will introduce the apprenticeship levy in April 2017. It will be set at a rate of 0.5% of an employer’s paybill and will be paid through PAYE. Each employer will receive an allowance of £15,000 to offset against their levy payment. This means that the levy will only be paid on any paybill in excess of £3 million. (Finance Bill 2016) (1)
Corporation tax: museums and galleries tax relief – The government will explore with the sector the case for introducing a new tax relief for museums and galleries. Consultation on how to expand corporation tax deductions for contributions to grassroots sport – The government will launch a consultation at Budget 2016 on how to expand support that can be given to grassroots sport through the corporation tax system. Stamp Duty and Stamp Duty Reserve Tax Deep In The Money Options (DITMOs) – Shares transferred to a clearance service or depositary receipt issuer as a result of the exercise of an option will now be charged the 1.5% higher rate of stamp duty based on either their market value or the option strike price, whichever is higher. This will prevent avoidance using DITMOs, which are options with a strike price significantly below (for call options) or above (for put options) market value. Share transfers made other than to a clearance service or depositary receipt system as a result of exercising an option will be unaffected. The change will apply to options which are entered into on or after 25 November 2015 and exercised on or after Budget 2016. (Finance Bill 2016) (14)
Loan relationships: taxation of corporate debt and derivative contracts – The government will legislate to update the tax rules for company debt and derivative contracts to ensure they interact correctly with new accounting standards in three specific circumstances. (Finance Bill 2016)
Corporation tax: restitution interest – The government has provided that a special 45% rate of corporation tax on income is to be applied to restitution interest. This measure was legislated for in Finance (No. 2) Act 2015. (21)
Change in scope of the UK bank levy – The government will consult on changing the scope of the bank levy to UK operations from 1 January 2021, a change which was announced in Summer Budget 2015 alongside a commitment to legislate in this Parliament. VAT
on sanitary products: equivalent donation for women’s charities – The government has set up a new fund that will make available £15 million a year, equivalent to the annual
VAT
raised on sanitary products, to support women’s charities over the course of this Parliament, or until
EU
rules are amended to enable the UK to apply a zero rate of
VAT
for sanitary products. VAT
reduced rate for energy saving materials – The government will consult on legislation for Finance Bill 2016 to ensure the reduced rate of
VAT
on energy saving materials is maintained in line with
EU
law. (Finance Bill 2016)
Framework Convention on Tobacco Control (FCTC) Illicit Trade Protocol – As part of its obligations under the FCTC Illicit Trade Protocol, the government will consult on the introduction of a licensing scheme for tobacco machinery and the possibility of licensing tobacco vendors. Company Car Tax diesel supplement – From April 2016 the 3 percentage point differential between diesel cars and petrol cars will be retained until April 2021. (Finance Bill 2016) (12)
Climate Change Levy – Following consultation, a transitional period for electricity suppliers to apply the
CCL
exemption on renewably sourced electricity generated before 1 August 2015 will end on 31 March 2018. (Finance Bill 2016)
Shale Wealth Fund – The government will establish a Shale Wealth Fund from shale gas revenues which will see up to 10% of the tax revenues from shale gas spent in local areas. Reform of the Landfill Communities Fund – The value of the Landfill Communities Fund for 2016-17 will be set at £39.3 million, with the cap on contributions by landfill operators amended to 4.2%. £20 million of the additional Landfill Tax revenues from this change will be allocated to the Environment Agency to address waste crime over the next 5 years. This includes the removal of provisions for third party contributions, simplification of record keeping requirements and changes to the scheme’s objectives. (10)
Stamp duty land tax: additional properties – Higher rates of
SDLT
will be charged on purchases of additional residential properties (above £40,000), such as buy to let properties and second homes, from 1 April 2016. The higher rates will be 3 percentage points above the current
SDLT
rates. The higher rates will not apply to purchases of caravans, mobile homes or houseboats, or to corporates or funds making significant investments in residential property given the role of this investment in supporting the government’s housing agenda. The government will consult on the policy detail, including on whether an exemption for corporates and funds owning more than 15 residential properties is appropriate. The government will use some of the additional tax collected to provide £60 million for communities in England where the impact of second homes is particularly acute. (5)
Stamp Duty Land Tax: changes to the filing and payment process – The government will consult in 2016 on changes to the
SDLT
filing and payment process, including a reduction in the filing and payment window from 30 days to 14 days. These changes will come into effect in 2017-18.
(Finance Bill 2017) (6)
Annual Tax on Enveloped Dwellings (
ATED
) and 15% rate of Stamp Duty Land Tax: scope of reliefs – The government will extend the reliefs available from
ATED
and the 15% higher rate of
SDLT
to equity release schemes (home reversion plans), property development activities and properties occupied by employees from 1 April 2016. (Finance Bill 2016)
Small Business Rate Relief (SBRR) – The government will extend the doubling of SBRR for a further year from 1 April 2016. (2)
Capital Gains Tax (
CGT
) for non-UK residents disposing of UK residential property – The government will amend the
CGT
computations required by non-residents on the disposal of UK residential property by removing with retrospective effect from 6 April 2015 a double charge that occurs in some circumstances and correcting an omission with effect from 25 November 2015. The government will also give
HMRC
powers to prescribe circumstances when a
CGT
return is not required by non-residents and will add
CGT
to the list of taxes that the government may collect on a provisional basis. (Finance Bill 2016)
Capital Gains Tax: payment window – From April 2019, a payment on account of any
CGT
due on the disposal of residential property will be required to be made within 30 days of the completion of the disposal. This will not affect gains on properties which are not liable for
CGT
due to Private Residence Relief. The government will publish draft legislation for consultation in 2016. (Finance Bill 2017) (7)
A new criminal offence for tax evasion – The government will introduce a new criminal offence that removes the need to prove intent for the most serious cases of failing to declare offshore income and gains. (Finance Bill 2016)
New civil penalties for offshore tax evaders – The government will increase civil penalties for deliberate offshore tax evasion, including the introduction of a new penalty linked to the value of the asset on which tax was evaded and increased public naming of tax evaders. (Finance Bill 2016)
New civil penalties for those who enable offshore evasion – The government will introduce civil penalties for those who enable offshore tax evasion, including public naming of those who have enabled the evasion. (Finance Bill 2016)
A new criminal offence for corporates failing to prevent tax evasion – The government will introduce a new criminal offence for corporates which fail to prevent their agents from criminally facilitating tax evasion by an individual or entity. An additional requirement to correct past offshore tax non-compliance – The government will consult on an additional requirement for individuals to correct any past offshore non-compliance with new penalties for failure to do so. Cash and the hidden economy –
HMRC
is publishing a call for evidence to seek a better understanding of what implications the trend away from cash has for tax compliance, and in particular evasion and the hidden economy. Serial Avoiders – The government will introduce tough new measures for those who persistently enter into tax avoidance schemes that are defeated by
HMRC
. These include a special reporting requirement and a surcharge on those whose latest return is inaccurate due to use of a defeated scheme, the names of such avoiders being published and, for those who persistently abuse reliefs, restrictions on them accessing certain tax reliefs for a period. The government is also widening the Promoters of Tax Avoidance Schemes (POTAS) regime, by bringing in promoters whose schemes are regularly defeated by
HMRC
. (Finance Bill 2016)
General Anti-Abuse Rule (
GAAR
) – The government will introduce a new penalty of 60% of tax due to be charged in all cases successfully tackled by the
GAAR
. The government will also make small changes to the way the
GAAR
works to improve its ability to tackle marketed avoidance schemes. (Finance Bill 2016) (19)
Company distributions – The government will publish a consultation on the rules concerning company distributions later in the year. The government will also amend the Transactions in Securities rules and introduce a Targeted Anti-Avoidance Rule in order to prevent opportunities for income to be converted to capital in order to gain a tax advantage. (Finance Bill 2016) (18)
Capital allowances and leasing – With effect from 25 November 2015, the government will amend legislation to counter 2 types of avoidance involving capital allowances and leasing. These changes will prevent companies from artificially lowering the disposal value of plant and machinery for capital allowances purposes, and make any payment received for agreeing to take responsibility for tax deductible lease related payments subject to tax as income. (Finance Bill 2016) (16)
Disguised remuneration – The government intends to take action against those who have used or continue to use disguised remuneration schemes and who have not yet paid their fair share of tax. The government will also consider legislating in a future Finance Bill to close down any further new schemes intended to avoid tax on earned income, where necessary, with effect from 25 November 2015. Rules for addressing hybrid mismatch arrangements – Following consultation, the government will introduce legislation with effect from 1 January 2017 to implement the agreed
OECD
rules for addressing hybrid mismatch arrangements. The new rules will prevent multinational enterprises avoiding tax through the use of certain cross-border business structures or finance transactions. (Finance Bill 2016)
Related Party Rules: partnerships and transfers of intangible assets – The government will amend the intangible fixed asset rules to clarify the tax treatment on transfers of assets to partnerships. This change has immediate effect. It will ensure that partnerships cannot be used in arrangements that seek to obtain a tax relief for their corporate members in a way that is contrary to the intention of the regime. The government will also consider a review of the intangible assets regime as part of the Business Tax Roadmap.
(Finance Bill 2016) (17)
Taxation of asset manager’s performance based rewards – The government will introduce legislation to determine when performance awards received by asset managers will be taxed as income or capital gains. An award will be subject to income tax, unless the underlying fund undertakes long term investment activity. (Finance Bill 2016)
Tools to encourage voluntary compliance and special measures to tackle the highest risk businesses – At Summer Budget 2015, the government announced new measures to improve large business tax compliance, with a consultation over the summer to refine the detail of the measures. Following consultation, the government will legislate to introduce:
a new requirement that large businesses publish their tax strategies as they relate to or affect UK taxation
a special measures regime to tackle businesses that persistently engage in aggressive tax planning
a framework for cooperative compliance (Finance Bill 2016)
Capital Gains Tax entrepreneurs’ relief: contrived structures – The government will consider bringing forward legislation to amend the changes made by Finance Act 2015 to entrepreneurs’ relief, in order to support businesses by ensuring that the relief is available on certain genuine commercial transactions. Making tax digital – The government will invest £1.3 billion to transform
HMRC
into one of the most digitally advanced tax administrations in the world. Most businesses, self-employed people and landlords will be required to keep track of their tax affairs digitally and update
HMRC
at least quarterly via their digital tax account, reducing errors through record keeping. HMRC
will ensure the availability of free apps and software that link securely to
HMRC
systems and provide support to those who need help using digital technology. This will not apply to individuals in employment, or pensioners, unless they have secondary incomes of more than £10,000 per year. The government will publish its plans to transform the tax system shortly and will consult on the details in 2016. (20)
HMRC
’s customer cost reduction target –
HMRC
will introduce a strengthened target to reduce the annual cost to business of tax administration by £400 million by the end of this Spending Review period. Amendments to Schedule 3 of the Customs and Excise Management Act – The government will publish draft amendments to the Customs and Excise Management Act 1979 to clarify existing provisions concerning the seizure and detention of goods. (Finance Bill 2016)
Clarification of time limits for self-assessment – The government will publish draft legislation clarifying the time allowed for making a self-assessment. It will make clear that the time limit is 4 years from the end of the relevant tax year. (Finance Bill 2016)
Office of Tax Simplification (
OTS
) review of employment status – The government has responded to the final report of the
OTS
review of employment status and is taking forward the majority of recommendations. Taxation of accommodation benefits – Following recommendations from the 2014
OTS
report on simplifying the administration of employee benefits and expenses, the government will publish a call for evidence on the current tax treatment of employer provided living accommodation. Simple assessment – The government will publish draft legislation that will enable a new, simpler process for paying tax. This will be used for taxpayers in self-assessment who have simple tax affairs where
HMRC
already holds all the data it needs to calculate the tax liability, and where existing payment processes are not available. Taxpayers will be sent a calculation which will be a legally enforceable demand for payment, and taxpayers will be able to challenge and appeal these calculations. This process will come into effect in the 2016-17 tax year. (Finance Bill 2016)
‘On or Before’ Reporting Obligation Review – The government has decided that the 2 year temporary relaxation, allowing existing micro-employers using Real-Time PAYE to report all payments they make in a tax month on or before the last payday in the tax month rather than on or before each and every payday, will end as planned on 5 April 2016. This will align the treatment for existing micro-employers with all other employers, and follows a review the government committed to undertake at Autumn Statement 2014, as recommended by the
OTS
. Sharing Small and Medium Enterprise (
SME
) credit data – The government plans to designate Experian, Equifax and CreditSafe under the Small and Medium Sized Business (Credit Information) Regulations 2015. These credit reference agencies will receive
SME
credit data from designated banks and will be required to give finance providers equal access to this information. CML-Which? report on mortgage fee transparency – The government welcomes the industry commitments set out in the Council of Mortgage Lenders and Which? report on mortgage fee transparency published today. This will make it easier for borrowers to understand and choose the best mortgage deals. Motor insurance – The government will bring forward measures to reduce the excessive costs arising from unnecessary whiplash claims, and expects average savings of £40 to £50 per motor insurance policy to be passed onto customers, including by:
removing the right to general damages for minor soft tissue injuries
removing legal costs by transferring personal injury claims of up to £5,000 to the small claims court (13)
Extension of the UK Guarantees Scheme – The government will extend the availability of the £40 billion UK Guarantees Scheme to March 2021, to continue to help infrastructure projects raise finance from banks and the capital markets. Neighbourhood plans – The government will ensure that local communities can allocate land for housing through neighbourhood plans, even if that land is not allocated in the local plan. Starter Homes – The government will amend planning policy to ensure the release of unused and previously undeveloped commercial, retail and industrial land for Starter Homes, and support regeneration of previously developed, brownfield sites in the greenbelt, by allowing them to be developed in the same way as brownfield sites elsewhere, providing it delivers Starter Homes. This will be subject to local consultation, such as through neighbourhood plans.
SME
house builders – The government will halve the length of the planning guarantee and amend planning policy to support small sites, while ensuring protection for existing gardens. Section 106 – The government will bring forward proposals for a more standardised approach to viability assessments, and extend the ability to appeal against unviable section 106 agreements to 2018. Quality of decision making – To support decision-making in line with local plans and the principles in the National Planning Policy Framework, the government will bring forward proposals to strengthen the performance regime, by lowering the threshold for the quality of decisions to 10% of all major decisions overturned on appeal. Wider circumstances, such as the status of the local plan and whether appeals relate to this, will be taken into account. Planning conditions – The government will review the operation of the deemed discharge of planning conditions. Right to Buy pilot – The government will launch a pilot of Right to Buy with five housing associations, to inform the design of the final scheme. Warm Home Discount – The government will extend the Warm Home Discount to 2020-21 at current levels of £320 million a year, rising with inflation (
CPI
). Domestic energy efficiency supplier obligation – The government will implement a domestic energy efficiency suppler obligation for 5 years from April 2017, with a value of £640 million per year, rising with inflation (
CPI
). Flood Reinsurance Scheme – The Flood Reinsurance Scheme has now been designated and will be consolidated into Defra’s accounts. The scheme will ensure affordable home insurance for those at high flood risk from April 2016, subject to approval from financial regulators. (11)
Further education loans – The government will extend further education tuition loans to include those aged 19-23 studying for a Level 3 or 4 qualification, and for those aged 19 and over studying for a Level 5 or 6 qualification. Equivalent or Lower Qualification bar – The government will enable people to retrain in Science, Technology, Engineering and Mathematics by removing the restriction on accessing tuition fee loans for a second degree in these subjects from 2017-18. Part Time Maintenance Loans – The government will introduce a generous new system of maintenance support for higher education students wishing to study part time by 2018-19 and will consult on the detail. Repayment threshold – The government will freeze the student loan repayment threshold for Plan 2 graduates for 5 years from April 2016. Postgraduate Taught Masters Loans – The government will lift the age cap for new postgraduate loans, so they are available to all those under 60, and reduce the repayment rate from 9% to 6% of income over £21,000. Loans will be introduced from 2016-17. Health education reform – Students studying nursing, midwifery and allied health subjects from September 2017 will be moved on to the standard student support system, with the details subject to consultation. The cap on the number of student places universities can offer for these subjects will be removed. This annex provides further details of the projections of public expenditure that result from decisions made in the Spending Review and Autumn Statement. All real terms numbers included in this document have been calculated on the basis of whole economy inflation, as measured by the Gross Domestic Product (
GDP
) deflators used by the Office for Budget Responsibility (
OBR
) in their November forecast. These are set out in their ‘Economic and fiscal outlook’ November 2015 document. All projections for Annually Managed Expenditure (
AME
) are based on the
OBR
’s November forecast, adjusted for
AME
measures in the Spending Review and Autumn Statement. Some numbers in this document may not sum due to rounding. Table 1.A sets out provisional
RDEL
settlements including depreciation. Depreciation measures the reduction in value of assets over the course of a year. Departments calculate depreciation for
RDEL
budgets according to International Financial Reporting Standards (IFRS). Formal depreciation budgets for departments will be set out at Main Estimates 2016. Table 1.B shows departmental administration budgets within
RDEL
. Administration budgets limit expenditure on running costs of central government which do not directly support front line public services, for example, business support services, the provision of policy advice, accommodation and office services. These represent limits within the overall
RDEL
settlements set out elsewhere in this document, rather than additional spending. The
OBR
’s assessment of the welfare cap is set out in Table 1.5. Table B.1 sets out a full list of expenditure items within the scope of the welfare cap. The Treasury will seek the approval of the House of Commons for any changes to the list of items of expenditure which fall within the scope of the welfare cap, including where a new welfare cap level and/or margin are being set. This annex sets out revisions to the government’s financing plans for 2015-16, which were previously updated on 8 July 2015. Further details of the revised remit for 2015-16, including progress against the remit to date, can be found on the Debt Management Office’s (
DMO
) website at www.dmo.gov.uk. The government’s debt management framework remains as set out in the Debt and reserves management report 2015-16. The updated financing arithmetic is set out in Table C.1. As set out in Chapter 4 of the Office for Budget Responsibility’s (
OBR
) November 2015 ‘Economic and fiscal outlook’ (
EFO
), the forecast for the 2015-16 central government net cash requirement (excluding
NRAM
plc, Bradford and Bingley and Network Rail) (
CGNCR
(ex
NRAM
,
B&B
and
NR
)) is £75.5 billion. This measure is used in the financing arithmetic as it reflects the forecast cash requirement of the Exchequer.
The net financing requirement (
NFR
) comprises the
CGNCR
(ex
NRAM
,
B&B
and
NR
) plus any financing for gilt redemptions, planned financing for the reserves and other adjustments, less the net contribution to financing from National Savings and Investments (
NS&I
) and any other in-year contributions to financing. The
NFR
for 2015-16 is projected to be £128.4 billion, an increase of £4.5 billion to the figure forecast in July 2015. This change reflects:
an upward revision to the
CGNCR
forecast of £3.8 billion to £75.5 billion
a small downward revision to the forecast net contribution to financing from
NS&I
of £0.7 billion to £9.3 billion
The increase to the
NFR
will be accommodated by a change in the planned end year stock of Treasury bills. The planned end March 2016 Treasury bill stock is rising by £4.5 billion to  £66.0 billion. The
DMO
has flexibility to vary the planned Treasury bill stock by a maximum of £5 billion before financial year end, relative to these plans. This can be used to offset any anticipated net surplus or deficit for the Exchequer. Effective from 2015-16, this flexibility can be extended into the following financial year. The maturity skew of gilt issuance by auction and syndication was previously set out in July 2015. This skew will remain broadly unchanged as set out in Table C.1. Table C.2 sets out the updated illustrative gross financing requirement for the next 5 years, using the
OBR
’s November 2015 forecast for the
CGNCR
(ex
NRAM
,
B&B
and
NR
), current planned gilt redemptions, and planned financing for the reserves. The Office for Budget Responsibility (
OBR
) has published its November 2015
alongside Spending Review and Autumn Statement 2015. ‘Quarterly National Accounts’, Organisation for Economic Co-operation and Development (
OECD
) and US Bureau of Economic Analysis, November 2015. All UK economy data from Office for National Statistics (
ONS
) unless otherwise stated. Further detail can be found in ‘Spending Review and Autumn Statement 2015 Data Sources’. High and medium-skilled occupations as defined in ‘Economic Review’,
ONS
, December 2014. ‘Short-Term Labour Market Statistics’,
OECD
, November 2015. All forecasts refer to the Office for Budget Responsibility (
OBR
) ‘Economic and fiscal outlook’, November 2015, unless otherwise stated. RHDI
is a comprehensive measure of living standards which takes into account: employment levels, the effect of tax and benefits, as well as inflation. Historic estimates of numbers of
NMW
employees from Low Pay Commission analysis of Annual Survey of Hours and Earnings data. Estimates of number of beneficiaries of the NLW as set out in ‘Economic and fiscal outlook’,
OBR
, November 2015. ‘International Comparisons of Productivity - First Estimates, 2014’,
ONS
, September 2015. Implied productivity per hour in Q3 2015 is the change in GVA net the change in number of hours worked for Q3. ‘Fixing the foundations: creating a more prosperous nation’, HM Treasury, July 2015. ‘Business Population Estimates’, Department for Business, Innovation and Skills, October 2015. The north is defined as the North East, North West, and Yorkshire and the Humber regions. High-skilled occupations as defined in ‘Economic Review’,
ONS
, December 2014. ‘World Economic Outlook’,
IMF
, April 2015. Open letter from the Governor of the Bank of England to the Chancellor of the Exchequer, November 2015. ‘Monetary financial institutions loans to non-financial businesses, by business size’, Bank of England, October 2015. Christine Lagarde, International Monetary Fund (
IMF
) Spring Meetings press conference, April 2015. Angel Gurria, Organisation for Economic Co-operation and Development (
OECD
) press conference, February 2015. ‘World Economic Outlook’,
IMF
October 2015. ‘Public Sector Finances’,
ONS
, October 2015; ‘Economic and fiscal outlook’,
OBR
, November 2015. ‘
IMF
Fiscal Monitor’,
IMF
, October 2015. Public Sector Finances’,
ONS
, October 2015; ‘Economic and fiscal outlook’,
OBR
, November 2015. Comparisons between Autumn Statement 2015 and Summer Budget 2015 are made on a like-for-like basis, using Summer Budget 2015 numbers which have been restated to include Housing Associations. “Over the forecast period” refers to the five full years in the
OBR
forecast, 2016-17 to 2020-21. ‘Economic and fiscal outlook,
OBR
, November 2015. ‘Economic and fiscal outlook,
OBR
, November 2015. “Housing Associations” throughout this document refers to “private registered providers” of social housing in England which the
ONS
have reclassified from the private corporation sector to the public corporation sector. The reclassification affects over 1500 bodies providing social housing, including most housing associations and some for-profit housing bodies. [
ONS
press-release: http://www.ons.gov.uk/ons/rel/na-classification/national-accounts-sector-classification/classification-update—october-2015/index.html]. For further information see Box 5.1 of
OBR
, Fiscal sustainability report, July 2013. ‘Annex B, Budget 2014’, and updated analysis in ‘Summer Budget 2015’, HM Treasury. ‘Three Centuries of Data on the UK Economy’, Bank of England data. ‘Economic and fiscal outlook’,
OBR
, November 2015. ‘Economic and fiscal outlook’,
OBR
, November 2015
‘Government begins sale of its shares in the Royal Bank of Scotland’, HM Treasury, 4 August 2015, available on https://www.gov.uk/government/news/government-begins-sale-of-its-shares-in-the-royal-bank-of scotland
‘Government sells a further 1% shareholding in Lloyds’, HM Treasury, 29 October 2015, available on https://www.gov.uk/government/news/government-sells-a-further-1-shareholding-in-lloyds
‘Government agrees record-breaking £13 billion sale of former Northern Rock Mortgages’, HM Treasury, 13 November 2015, available on https://www.gov.uk/government/news/government-agrees-record-breaking-13-billion-sale-of-former-northern-rock-mortgages
The Mandate - A mandate from the Government to NHS England: April 2015 to March 2016, Department of Health, December 2014. Internal Department of Health data. Minimum wage rate data from the
OECD
. Available at http://stats.oecd.org/
Historic estimates of numbers of
NMW
employees from Low Pay Commission analysis of Annual Survey of Hours and Earnings data. Estimates of number of beneficiaries of the NLW as set out in
OBR
‘Economic and fiscal outlook’, November 2015. OBR
‘Economic and fiscal outlook’, November 2015. OBR
data on
GDP
deflator;
DWP
Benefit Expenditure and Caseload Tables. World Bank data on social protection and population;
IMF
data on
GDP
. HM Treasury calculations; NLW based on
OBR
earnings projections.
Tax Credits:
HMRC
calculations using Child Benefit, Child Tax Credit and Working Tax Credit Take-up Rates 2010-11 and 2012-13 and
ONS
Family and Households data 2013. Universal Credit:
DWP
calculations. Benefit and Expenditure Caseload Tables,
DWP
, 2015. Labour Market Statistics, A01, Office for National Statistics. Labour Market Statistics, UNEM01 SA, Office for National Statistics. Labour Market Statistics, CLA01, Office for National Statistics. Labour market status of disabled people, Office for National Statistics, November 2015. Cost of Registered Pension Scheme Tax Relief, Table PEN 6,
HMRC
, February 2015. Official Statistics on workplace pension participation and saving trends of eligible employees: 2004-2014,
DWP
, 2015. As defined in ‘Estimated impacts of energy and climate change policies on energy prices and bills’,
DECC
2014
https://www.abi.org.uk/Insurance-and-savings/Topics-and-issues/Personal-injury-claims/Whiplash-claims
Claimants will still be entitled to claim for ‘special damages’ (including treatment for any injury if required and any loss of earnings) but entitlements for general damages will be removed. Council of Mortgage Lenders. Live Table 671: Annual Right to Buy sales, Department for Communities and Local Government. https://www.gov.uk/government/publications/fixing-the-foundations-creating-a-more-prosperous-nation
Department for Education and Department for Business, Innovation and Skills data, HM Treasury Internal Calculations, 2015. HM Revenue and Customs analysis, 2015. Subject to final due diligence, these National Colleges will be: The National College for Digital Skills (London); The National College for High Speed Rail (Birmingham and Doncaster); The National College for Nuclear (Somerset and Cumbria); The National College for Onshore Oil and Gas (Blackpool); and The National College for Creative and Cultural Industries (Essex). Access Agreement and Widening Participation Strategic Assessment Monitoring, Office for Fair Access, 2010-11; Access Agreement for 2015-16: Key Statistics and Analysis, Office for Fair Access, 2015-16. ‘Global competitiveness index 2014-15’, World Economic Forum, 2014; ‘Main science and technology indicators’,
OECD
, 2015. Department of Business, Innovation and Skills settlement figures, 2015. This includes Network Grant to Network Rail and LGF contribution from the
DfT
budget to enable comparison over time periods. Network rail spending scores as Capital
AME
within the Department for Transport. The number in table [T06] sets out the CAME forecast for network rail spending from 2015-16 until 2020-21 including grants provided by Transport for Scotland, and is consistent with delivering their £38 billion planned investment within Control Period 5 (2014-19). HM Treasury internal calculations, 2015.
International Passenger Survey, Office for National Statistics, 2015. Legatum Institute Prosperity Index, Legatum Institute, 2015. Corporate tax rates tables, KPMG, 2015. ‘Business Investment’, Office for National Statistics, Quarter 2 2015. ‘UNCTAD World Investment Report 2015’, United Nations Commission for Trade and Development, 2015; ‘Inward Investment Report 2014 to 2015’, UK Trade and Investment, 2015. ‘Business Population Estimates’, Office of National Statistics, 2015. Loans drawn down at end October 2015, Start Loans Company, 2015. ‘Public Sector Employment’,
ONS
, Q2 2015 (excluding major reclassifications). ‘Business Population Estimate for the UK and Regions’,
BIS
, October 2015. Economic and Fiscal Outlook,
OBR
, November 2015. HM Treasury analysis based on Public Expenditure Statistical Analyses 2015, HM Treasury, July 2015
Council Tax Levels in England 2015-16,
DCLG
, July 2015. Local government Chief Officers’ remuneration, Communities and Local Government Committee, September 2014. Capital Expenditure and Receipts 2013-14 Summary,
DCLG
, March 2015. Enterprise Zones boom with thousands of new jobs attracted this year, HM Government, August 2015. ‘Regional Labour Market Statistics’,
ONS
, November 2015. ‘Regional Labour Market Statistics’,
ONS
, November 2015. ‘Business Population Estimate for the UK and Regions’,
BIS
, October 2015. ‘Regional Labour Market Statistics’,
ONS
, November 2015. ‘Business Population Estimate for the UK and Regions’,
BIS
, October 2015. ‘Regional Gross Value Added’,
ONS
, December 2014. Spending Review 2010 and Public Expenditure Statistical Analyses 2015, measured from 2010-11 baseline. ‘Crime in England and Wales, Year Ending June 2015’, Crime Survey for England and Wales, Office for National Statistics, October 2015; ‘Coming to terms with austerity’, Ipsos Mori, October 2015; ‘UK application rates by country, region, constituency, sex, age and background’, UCAS, January 2015. National Offender Management Service Annual Reports and Accounts 2014-15, Ministry of Justice, June 2015. Immigration statistics, Home Office, April to June 2015. Border Force management information, Home Office. HMT
analysis using Public Expenditure Statistical Analyses 2015 and Economic and Fiscal Outlook,
OBR
, November 2015. Drawing on Whole of Government Accounts exit payment cost data: 2011-12: £2.7bn; 2012-13; £2bn; 2013-14: £1.8bn. ‘Health at work - an independent review of sickness absence’ Dame Carol Black and David Frost CBE, Cm 8205, November 2011. Economic and Fiscal Outlook Briefing,
OBR
, July 2015. Government Property Unit (GPU) estimate. GPU calculations based on Whole of Government Accounts 2013-14; GPU ePIMS database. Departmental agency staff and contractor spend of £5 billion in 2014-15. HM Treasury based on ‘Public Spending Statistics release: November 2015’ and ‘OSCAR annual release: November 2015.’
‘Short Money’ House of Commons Briefing Paper Number 01663, November 2015. Further education and skills: statistical first release, available at https://www.gov.uk/government/statistics
HM Treasury data
Subject to due diligence
SDSR 2015 , para 4.94
https://www.gov.uk/government/publications/road-investment-strategy-overview
https://www.gov.uk/government/publications/ad-hoc-statistical-analysis-2015-quarter-4-gva-of-dcms-sectors/gva-of-dcms-sectors
https://www.gov.uk/government/news/23-billion-to-be-spent-on-new-flood-defences–24
Claimants will still be entitled to claim for ‘special damages’, including treatment for any injury if required and any loss of earnings. Yes
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