To ask the Chancellor of the Exchequer, how much revenue has accrued to the Exchequer from the bank levy in each of the last 12 financial quarters.

To ask the Chancellor of the Exchequer, how much revenue has accrued to the Exchequer from the bank levy in each of the last 12 financial quarters.

This Commons Library briefing looks at the public debate over the tax treatment of the banking sector in the wake of the 2008 financial crisis, before discussing the different approaches taken in successive years by Labour, Coalition and Conservative Governments.

This Commons Library briefing looks at the public debate over the tax treatment of the banking sector in the wake of the 2008 financial crisis, before discussing the different approaches taken in successive years by Labour, Coalition and Conservative Governments.

To ask the Chancellor of the Exchequer, what assessment he has made of the revenue raised by the (a) Bank Levy and (b) Bank Corporation Tax Surcharge since their introduction in 2011 relative to state support for the banking sector over the period since the financial crisis in 2008.

To ask the Chancellor of the Exchequer, what assessment he has made of the revenue raised by the (a) Bank Levy and (b) Bank Corporation Tax Surcharge since their introduction in 2011 relative to state support for the banking sector over the period since the financial crisis in 2008.

My Lords, the Bill before the House today is a mere 187 pages long, which compares favourably to the more than 600 pages of the previous Finance Bill. In part, this reflects the Government’s move to a single, annual fiscal event but it also represents the fact that in December...

My Lords, the Bill before the House today is a mere 187 pages long, which compares favourably to the more than 600 pages of the previous Finance Bill. In part, this reflects the Government’s move to a single, annual fiscal event but it also represents the fact that in December...

There was a ripple of dissatisfaction when you failed to call me to speak, Madam Deputy Speaker, but it was almost imperceptible. Thank you for correcting your error.

In this debate we have heard about a range of issues, including the changes the Finance Bill makes to the bank levy, the...

There was a ripple of dissatisfaction when you failed to call me to speak, Madam Deputy Speaker, but it was almost imperceptible. Thank you for correcting your error.

In this debate we have heard about a range of issues, including the changes the Finance Bill makes to the bank levy, the...

The Finance Bill makes changes to the bank levy, in particular restricting its scope to UK activities. These changes support our vision to help keep UK banks globally competitive. They reflect improvements in international banking regulation that reduce the risk of overseas operations to the UK, and they complete a...

The Finance Bill makes changes to the bank levy, in particular restricting its scope to UK activities. These changes support our vision to help keep UK banks globally competitive. They reflect improvements in international banking regulation that reduce the risk of overseas operations to the UK, and they complete a...

Q9

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Caroline Flint (Don Valley) (Lab):

In her answers so far, the Prime Minister has shown that she has not got a clue about the concerns of small towns. Today and on 14 June, the Prime Minister said that no one and no community will be left behind, but the Doncaster market towns of Thorne and Bawtry have just been told that their NatWest branches are to close. That is two more bank branch closures on top of a record-breaking 700 this year, despite the big four

banks delivering £13.5 billion half-year profits. Will the Prime Minister admit that the Government’s access to banking protocol has failed to keep a single branch open, and will she restore the bank levy and use some of it to stop communities losing their last bank branch?

Q9

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Caroline Flint (Don Valley) (Lab):

In her answers so far, the Prime Minister has shown that she has not got a clue about the concerns of small towns. Today and on 14 June, the Prime Minister said that no one and no community will be left behind, but the Doncaster market towns of Thorne and Bawtry have just been told that their NatWest branches are to close. That is two more bank branch closures on top of a record-breaking 700 this year, despite the big four

banks delivering £13.5 billion half-year profits. Will the Prime Minister admit that the Government’s access to banking protocol has failed to keep a single branch open, and will she restore the bank levy and use some of it to stop communities losing their last bank branch?

I responded to the leader of the Scottish National party earlier in relation to RBS closures, which I think is what the right hon. Lady is referring to. She and others need to accept that people’s behaviour in relation to bank branches has changed over the years and there is less demand, but we have the access to banking standard in place. She referred to the bank levy. Let us be very clear: there is a bank levy, and there is also a corporation tax surcharge for banks. This Government are raising more money from the banks than the Labour Government ever did.

I responded to the leader of the Scottish National party earlier in relation to RBS closures, which I think is what the right hon. Lady is referring to. She and others need to accept that people’s behaviour in relation to bank branches has changed over the years and there is less demand, but we have the access to banking standard in place. She referred to the bank levy. Let us be very clear: there is a bank levy, and there is also a corporation tax surcharge for banks. This Government are raising more money from the banks than the Labour Government ever did.

To ask Mr Chancellor of the Exchequer, what estimate he has made of the annual yield to the Exchequer of reversing the rate reduction of the Bank Levy introduced in 2015.

To ask Mr Chancellor of the Exchequer, what estimate he has made of the annual yield to the Exchequer of reversing the rate reduction of the Bank Levy introduced in 2015.

Motion to consider. Agreed to on question.

Motion to consider. Agreed to on question.

My Lords, since 2010 the Government have laid the foundations for a stronger economy. We can now see that the recovery is well established. The UK had the fastest-growing economy in the G7 countries in 2014, and is reasonably well positioned for the same in 2015.The fiscal deficit has been...

My Lords, since 2010 the Government have laid the foundations for a stronger economy. We can now see that the recovery is well established. The UK had the fastest-growing economy in the G7 countries in 2014, and is reasonably well positioned for the same in 2015.The fiscal deficit has been...

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 20 July 2015 to Question 6495, how much he forecasts will be collected from the bank levy in (a) 2018-19 and (b) 2019-20.

To ask Mr Chancellor of the Exchequer, pursuant to the Answer of 20 July 2015 to Question 6495, how much he forecasts will be collected from the bank levy in (a) 2018-19 and (b) 2019-20.

With this it will be convenient to consider the following:

Clause 17 stand part.

That schedule 2 be the Second schedule to the Bill.

Amendment 3, in schedule 3, page 74, line 4, leave out “8%” and insert “the relevant percentage”.

This amendment would replace the 8% rate of surcharge in the Bill with...

With this it will be convenient to consider the following:

Clause 17 stand part.

That schedule 2 be the Second schedule to the Bill.

Amendment 3, in schedule 3, page 74, line 4, leave out “8%” and insert “the relevant percentage”.

This amendment would replace the 8% rate of surcharge in the Bill with...