Treasury written question – answered at on 23 June 2020.
Richard Fuller
Conservative, North East Bedfordshire
To ask the Chancellor of the exchequer, if his Department will make an assessment of the potential merits of enabling information from the 2019-20 financial year tax return only to be used for eligibility for the Self-employment Income Support Scheme in (a) the hospitality sector and (b) other sectors of the economy that are unable to reopen in a timely manner as the covid-19 restrictions are eased.
Jesse Norman
The Financial Secretary to the Treasury
There would be significant risks for the public purse if the Government relied on 2019-20 returns for the SEISS, as this would create an opportunity for fraudulent activity through the manipulation of trading profit figures. The Government cannot expose the tax system to these risks.
The Self-Employment Income Support Scheme (SEISS) continues to be one of the most generous self-employed COVID-19 support schemes in the world as the economy reopens.
The SEISS is one element of the unprecedented financial support provided by the Government. This support includes Bounce Back loans, tax deferrals, rental support, increased levels of Universal Credit, mortgage holidays, and other business support grants.
The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.
The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.
The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.
