HM Treasury

HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.



Secretary of State

 Portrait

Rachel Reeves
Chancellor of the Exchequer

Shadow Ministers / Spokeperson
Liberal Democrat
Baroness Kramer (LD - Life peer)
Liberal Democrat Lords Spokesperson (Treasury and Economy)
Daisy Cooper (LD - St Albans)
Liberal Democrat Spokesperson (Treasury)

Conservative
Mel Stride (Con - Central Devon)
Shadow Chancellor of the Exchequer

Green Party
Adrian Ramsay (Green - Waveney Valley)
Green Spokesperson (Treasury)

Liberal Democrat
Charlie Maynard (LD - Witney)
Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)
Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Gareth Davies (Con - Grantham and Bourne)
Shadow Financial Secretary (Treasury)
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)
Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
There are no upcoming events identified
Select Committee Docs
Tuesday 28th October 2025
00:01
Select Committee Inquiry
Tuesday 31st January 2023
Quantitative tightening

This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …

Written Answers
Monday 27th October 2025
Electronic Cigarettes and Tobacco: Smuggling
To ask the Chancellor of the Exchequer, if she will take steps to reduce the number of illegal tobacco and …
Secondary Legislation
Monday 20th October 2025
Financial Services and Markets Act 2023 (Prudential Regulation of Credit Institutions) (Consequential Amendments) Regulations 2025
Section 1 of the Financial Services and Markets Act 2023 (c. 29) revokes assimilated law referred to in Schedule 1 …
Bills
Wednesday 25th June 2025
Supply and Appropriation (Main Estimates) Act 2025
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the …
Dept. Publications
Monday 27th October 2025
09:30

Policy and Engagement

HM Treasury Commons Appearances

Oral Answers to Questions is a regularly scheduled appearance where the Secretary of State and junior minister will answer at the Dispatch Box questions from backbench MPs

Other Commons Chamber appearances can be:
  • Urgent Questions where the Speaker has selected a question to which a Minister must reply that day
  • Adjornment Debates a 30 minute debate attended by a Minister that concludes the day in Parliament.
  • Oral Statements informing the Commons of a significant development, where backbench MP's can then question the Minister making the statement.

Westminster Hall debates are performed in response to backbench MPs or e-petitions asking for a Minister to address a detailed issue

Written Statements are made when a current event is not sufficiently significant to require an Oral Statement, but the House is required to be informed.

Most Recent Commons Appearances by Category
Sep. 09
Oral Questions
Oct. 22
Westminster Hall
Oct. 14
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

HM Treasury does not have Bills currently before Parliament


Acts of Parliament created in the 2024 Parliament

Introduced: 25th June 2025

A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2025.

This Bill received Royal Assent on 21st July 2025 and was enacted into law.

Introduced: 13th November 2024

A Bill to make provision about secondary Class 1 contributions.

This Bill received Royal Assent on 3rd April 2025 and was enacted into law.

Introduced: 6th November 2024

A Bill to make provision about finance.

This Bill received Royal Assent on 20th March 2025 and was enacted into law.

Introduced: 25th July 2024

A Bill to amend the Crown Estate Act 1961.

This Bill received Royal Assent on 11th March 2025 and was enacted into law.

Introduced: 5th March 2025

A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.

This Bill received Royal Assent on 11th March 2025 and was enacted into law.

Introduced: 6th November 2024

A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.

This Bill received Royal Assent on 16th January 2025 and was enacted into law.

Introduced: 18th July 2024

A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.

This Bill received Royal Assent on 10th September 2024 and was enacted into law.

Introduced: 24th July 2024

A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.

This Bill received Royal Assent on 30th July 2024 and was enacted into law.

HM Treasury - Secondary Legislation

Section 1 of the Financial Services and Markets Act 2023 (c. 29) revokes assimilated law referred to in Schedule 1 to that Act.
These Regulations designate areas, known as “special tax sites”, as special areas for the purposes of Parts 2 (plant and machinery allowances) and 2A (structures and buildings allowances) of the Capital Allowances Act 2001 (c. 2) (“CAA 2001”).
View All HM Treasury Secondary Legislation

Petitions

e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.

If an e-petition reaches 10,000 signatures the Government will issue a written response.

If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).

Trending Petitions
Petition Open
5,367 Signatures
(4,016 in the last 7 days)
Petition Open
1,153 Signatures
(567 in the last 7 days)
Petitions with most signatures
Petition Debates Contributed

Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.

154,009
Petition Closed
13 May 2025
closed 5 months, 2 weeks ago

We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.

Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.

View All HM Treasury Petitions

Departmental Select Committee

Treasury Committee

Commons Select Committees are a formally established cross-party group of backbench MPs tasked with holding a Government department to account.

At any time there will be number of ongoing investigations into the work of the Department, or issues which fall within the oversight of the Department. Witnesses can be summoned from within the Government and outside to assist in these inquiries.

Select Committee findings are reported to the Commons, printed, and published on the Parliament website. The government then usually has 60 days to reply to the committee's recommendations.


11 Members of the Treasury Committee
Meg Hillier Portrait
Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)
Treasury Committee Member since 9th September 2024
Yuan Yang Portrait
Yuan Yang (Labour - Earley and Woodley)
Treasury Committee Member since 21st October 2024
Jeevun Sandher Portrait
Jeevun Sandher (Labour - Loughborough)
Treasury Committee Member since 21st October 2024
Lola McEvoy Portrait
Lola McEvoy (Labour - Darlington)
Treasury Committee Member since 21st October 2024
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 21st October 2024
John Glen Portrait
John Glen (Conservative - Salisbury)
Treasury Committee Member since 21st October 2024
Rachel Blake Portrait
Rachel Blake (Labour (Co-op) - Cities of London and Westminster)
Treasury Committee Member since 21st October 2024
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 21st October 2024
Bobby Dean Portrait
Bobby Dean (Liberal Democrat - Carshalton and Wallington)
Treasury Committee Member since 28th October 2024
Chris Coghlan Portrait
Chris Coghlan (Liberal Democrat - Dorking and Horley)
Treasury Committee Member since 28th October 2024
John Grady Portrait
John Grady (Labour - Glasgow East)
Treasury Committee Member since 9th December 2024
Treasury Committee: Upcoming Events
Treasury Committee - Oral evidence
Budget 2025
28 Oct 2025, 9:45 a.m.
At 10:00am: Oral evidence
Carsten Jung - Interim associate director for economic policy and AI at Institute for Public Policy Research
Dr Theo Bertram - Director at Social Market Foundation
Stewart Kenny - Retired Co-founder at Paddy Power
At 11:00am: Oral evidence
Stephen Hodgson - Chair of Tax Committee at Betting and Gaming Council
Grainne Hurst - Chief Executive at Betting and Gaming Council

View calendar - Save to Calendar
Treasury Committee - Oral evidence
Budget 2025
29 Oct 2025, 2 p.m.
View calendar - Save to Calendar
Treasury Committee: Previous Inquiries
The Financial Conduct Authority’s Regulation of London Capital & Finance plc Budget 2021 Work of National Savings and Investments Lessons from Greensill Capital Appointment of Carolyn Wilkins to the Financial Policy Committee Appointment of Tanya Castell to the Prudential Regulatory Committee The work of the Prudential Regulation Authority Reappointment of Jill May and Julia Black to the Prudential Regulation Committee Committee on COP26: climate change and finance Spring Budget 2020 Appointment of Sarah Breeden to the Financial Policy Committee Appointment of Catherine Mann to the Monetary Policy Committee Reappointment of Jonathan Haskel to the Monetary Policy Committee Bank of England July Financial Stability Report and August Monetary Policy Report Economic Crime Regional Imbalances in the UK economy The Work of the Debt Management Office Appointment of Richard Hughes as Chair of the Office for Budget Responsibility Reappointment of Professor Silvana Tenreyro to the Monetary Policy Committee Reappointment of Andy Haldane to the Monetary Policy Committee Appointment of Jonathan Hall to the Financial Policy Committee Appointment of Nikhil Rathi as Chief Executive of the Financial Conduct Authority Maxwellisation inquiry The work of National Savings and Investments inquiry Retail Banking Market Review inquiry HMRC Executive Chair and Chief Executive Financial stability one-off hearing Appointment of the CEO of Financial Conduct Authority Bank of England Financial Stability Report Hearings 2016-17 UK's future economic relationship with the EU inquiry Appointment of Deputy Governor for Prudential Regulation EU Insurance Regulation inquiry HM Treasury: Report and Accounts 2015 – 2016 Appointment of Michael Saunders to the Monetary Policy Committee Appointment of Anil Kashyap to the Financial Policy Committee Tax credits, fraud and error inquiry The work of the Chancellor of the Exchequer inquiry Bank of England Inflation Report Hearing August 2016 Prudential Regulation Authority inquiry Sir Charles Bean appointment to Budget Responsibility Committee UK tax policy and the tax base inquiry Government Internal Audit Agency inquiry HM Treasury Annual Report and Accounts 2014-15 inquiry Valuation Office Agency inquiry Independent review of report into failure of HBOS inquiry Review of the Office for National Statistics inquiry Appointment of Angela Knight as Chair of the Office for Tax Simplification Appointment of Tim Parkes as Chair of Regulatory Decisions Committee Budget 2016 inquiry Financial Policy Committee re-appointment hearings Bank of England Inflation Report Hearing May 2016 Work of the Court of the Bank of England inquiry Bank of England Inflation Report Hearing February 2017 Appointment of the Deputy Governor for Markets and Banking Budget 2017 inquiry Restoration and Renewal of the Palace of Westminster inquiry Capital inquiry Work of the Payment Systems Regulator inquiry Effectiveness and impact of post-2008 UK monetary policy Access to basic retail financial services inquiry Financial Conduct Authority inquiry Bank of England Inflation Report Hearing November 2016 UK Financial Investments annual reports and accounts 2015-16 Housing Policy inquiry Autumn Statement 2016 Household finances: income, saving and debt inquiry Bank of England Inflation Reports inquiry Budget Autumn 2017 inquiry Student Loans inquiry The UK's economic relationship with the European Union inquiry The work of the Bank of England inquiry The work of the Financial Conduct Authority The work of the National Infrastructure Commission inquiry Women in finance inquiry Appointment of Professor Silvana Tenreyro to the Monetary Policy Committee Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking, Bank of England The work of the Chancellor of the Exchequer EU Insurance Regulation inquiry HMRC Annual Report and Accounts inquiry Re-appointment of Professor Anil Kashyap to the Financial Policy Committee inquiry Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England inquiry The effectiveness of gender pay gap reporting inquiry Decarbonisation of the UK Economy and Green Finance inquiry Regional Imbalances in the UK Economy inquiry Work of the Financial Services Compensation Scheme inquiry Spending Round 2019 inquiry Access to Cash Review inquiry Appointment of Kathryn Cearns as Chair of the Office of Tax Simplification inquiry The future of the UK’s financial services inquiry The impact of Business Rates on business inquiry Spring Statement 2019 inquiry The work of the Adjudicator’s Office inquiry The work of the Debt Management Office inquiry Independent Review of the Co-Operative Bank inquiry Work of the Court of the Bank of England inquiry Tax enquiries and resolution of tax disputes inquiry IT failures in the financial services sector inquiry Work of the Banking Standards Board inquiry Independent Review of the Financial Ombudsman Service Appointment of Bradley Fried as Chair of Court, Bank of England Appointment of Professor Jonathan Haskel to the Monetary Policy Committee Andy King, Nominated Member of the Budget Responsibility Committee Re-appointment of Dr Gertjan Vlieghe to the Monetary Policy Committee Maxwellisation inquiry Work of the Valuation Office Agency inquiry Appointment of Julia Black as external member of the Prudential Regulation Committee Appointment of Jill May as an external member of the Prudential Regulation Committee Consumers’ Access to Financial Services inquiry The re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at the Bank of England inquiry Budget 2018 inquiry The Work of the Treasury inquiry Service Disruption at TSB inquiry Economic Crime inquiry Re-appointment of Alex Brazier to the Financial Policy Committee Re-appointment of Donald Kohn to the Financial Policy Committee Re-appointment of Martin Taylor to the Financial Policy Committee VAT inquiry Spring Statement 2018 Digital Currencies inquiry Appointment of Charles Randell as Chair of the Financial Conduct Authority SME Finance inquiry Appointment of Elisabeth Stheeman to the Bank of England Financial Policy Committee The work of the Prudential Regulation Authority inquiry Bank of England Financial Stability Reports RBS's Global Restructuring Group and its treatment of SMEs inquiry Childcare inquiry The work of the Payment Systems Regulator inquiry HM Treasury Annual Report and Accounts inquiry Women in the City Crown Estate Cheques, the end of? Mortgage Arrears and Access to Mortgage Finance: Follow up Financial Institutions - Too Important To Fail? Budget 2010 Credit Searches European Macro and Micro Prudential Financial Regulation Presbyterian Mutual Society Pre-Budget Report 2009 Budget 2009 Pre-Budget Report 2008 Budget 2008 Pre-Budget Report 2007 Mortgage Arrears and Access to Mortgage Finance Evaluating the Efficiency Programme Administration and expenditure of the Chancellor’s Departments, 2008-09 Banking Crisis Banking Crisis: International Dimensions Banking Reform Run on the Rock Budget June 2010 Competition and choice in the banking sector Office for Budget Responsibility Financial Regulation Spending Review 2010 Administration and effectiveness of HMRC The principles of tax policy Retail Distribution Review European financial regulation Autumn forecast 2010 Accountability of the Bank of England Private Finance Initiative Budget 2011 Future of Cheques Independent Commission on Banking: Interim Report Closing the tax gap: HMRC's record at ensuring tax compliance Budget Measures and Low-income Households Financial Conduct Authority Inherited Estates Counting the population Administration and expenditure of the Chancellor's Departments, 2006-07 Comprehensive Spending Review 2007 Administration and expenditure of the Chancellor's Departments, 2007-08 Independent Commission on Banking: Final Report Global Imbalances Autumn Statement 2011 Budget 2012 Corporate governance and remuneration Money Advice Service LIBOR FSA's report into HBOS Spending Round 2013 Project Verde Macroprudential tools Disposal of Government Stakes in RBS and Lloyds Credit Rating Agencies Autumn Statement 2012 Appointment of Dr Mark Carney as Governor of the Bank of England Budget 2013 Quantitative easing Private Finance 2 Autumn Statement 2013 Bank of England Financial Stability Report hearings: Session 2014-15 Appointment hearings, Session 2013-14 Bank of England Inflation Report Hearings: Session 2013-14 EU Financial Regulation Monetary Policy: Forward Guidance UK Financial Investments Ltd 2013 The economics of HS2 SME Lending Financial Conduct Authority hearings The costing of pre-election policy proposals Performance of the Royal Mint Budget 2014 The economics of currency unions OBR: July 2013 Fiscal Sustainability Report Banks' Lending Practices: Treatment of Businesses in Distress RBS Independent Lending Review Prudential Regulation Authority Hearings: Session 2014-15 HM Treasury Annual Report and Accounts 2013-14 Treatment of Financial Services Consumers Bank of England Inflation Report Hearings: Session 2014-15 HMRC Business Plan 2014-16 Manipulation of Benchmarks Appointment hearings, Session 2014-15 Co-op Governance Review Cost effectiveness of economic and financial sanctions Bank of England Financial Stability Report Hearings 2015-16 Bank of England Inflation Report Hearings 2015-16 Summer Budget 2015 inquiry UK Financial Investments Ltd Annual Report and Accounts 14-15 Review of scope and performance of Office for Budget Responsibility Bank of England Bill inquiry Chair of Office for Budget Responsibility reappointment hearing HMRC Annual Report and Accounts 2014-15 inquiry Prudential Regulation Authority inquiry Comprehensive Spending Review and Autumn Statement 2015 inquiry Review of CMA work on Retail Banking Market one-off session Financial Conduct Authority Practitioner Panels one-off session Appointment of Gertjan Vlieghe to the Monetary Policy Committee hearing Reappointment of Ian McCafferty to the Monetary Policy Committee hearing Financial Conduct Authority Economic and financial costs and benefits of UK's EU membership Crown Estate Annual Report and Accounts 2013/14 Bank of England Foreign Exchange Market Investigation HM Revenue and Customs and HSBC Budget 2015 The UK's EU Budget Contributions Press briefing of information in the Financial Conduct Authority’s 2014/15 Business Plan Fair and Effective Markets Review The Payment Systems Regulator Implementing the recommendations on the Parliamentary Commission on Banking Standards Autumn Statement 2014 Work of the Tax Assurance Commissioner UK Financial Investments Ltd Proposals for further Fiscal and Economic Devolution to Scotland Debt Management Office Annual Report and Accounts 2013-14 UK Customs Policy Infrastructure The cost of living The venture capital market The crypto-asset industry Tax Reliefs September 2022 Fiscal Event The Financial Services and Markets Bill The mortgage market The Edinburgh Reforms Quantitative tightening Retail Banks Appointment of Andrew Bailey as Governor of the Bank of England Work of Government Actuary’s Department Work of the Financial Ombudsman Service Work of HM Treasury Future of Financial Services Spending Review 2020 HMRC Annual Report and Accounts Bank of England Financial Stability Reports The appointment of John Taylor to the Prudential Regulation Committee UK’s economic and trading relationship with the EU The appointment of Antony Jenkins to the Prudential Regulation Committee Access to Cash Review Bank of England Financial Stability Reports Bank of England Inflation Reports Consumers’ Access to Financial Services Decarbonisation of the UK Economy and Green Finance Economic Crime The effectiveness of gender pay gap reporting HMRC Annual Report and Accounts inquiry Tax enquiries and resolution of tax disputes IT failures in the financial services sector Appointment of Dame Colette Bowe to the Financial Policy Committee Re-appointment of Professor Anil Kashyap to the Financial Policy Committee Work of the Financial Services Compensation Scheme Spending Round 2019 The impact of Business Rates on business Work of the Court of the Bank of England Independent Review of the Co-Operative Bank Regional Imbalances in the UK Economy Re-appointment of Michael Saunders to the Monetary Policy Committee Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England Maxwellisation RBS's Global Restructuring Group and its treatment of SMEs SME Finance Spring Statement 2019 The future of the UK’s financial services HM Treasury Annual Report and Accounts Service Disruption at TSB The UK's economic relationship with the European Union VAT The work of the Bank of England The work of the Chancellor of the Exchequer The work of the Financial Conduct Authority The Work of the Treasury The work of the Prudential Regulation Authority

50 most recent Written Questions

(View all written questions)
Written Questions can be tabled by MPs and Lords to request specific information information on the work, policy and activities of a Government Department

21st Oct 2025
To ask the Chancellor of the Exchequer, what estimate her Department has made of the number of transactions that will take place (a) up to £125,000, (b) from £125,001 to £250,000, (c) from £250,001 to £925,000, (d) from £925,001 to £1.5 million and (e) above £1.5 million in its forecast of residential Stamp Duty Land Tax receipts in the 2029-30 financial year.

A split of forecast property transactions by price band is not available.

However, a forecast of overall property transactions from the Office for Budgetary Responsibility is available here: https://obr.uk/forecasts-in-depth/the-economy-forecast/housing-market/#transactions.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask His Majesty's Government what steps they are taking to reduce the incidence of debanking without good reason by financial institutions.

Banking services fulfil a vital role for millions of people and businesses across the UK, and the Government is committed to ensuring high standards of consumer protection and financial inclusion across the financial services sector.

Earlier this year, the Government legislated to enhance protections for customers in cases where their bank account is terminated by their provider. Under these new rules coming into force for relevant new contracts from April 2026, Banks and other payment service providers will be required to give customers at least 90 days’ notice before closing their account or terminating a payment service and provide a clear and specific explanation so the customer can understand why it is being terminated.

These changes will ensure more transparent and predictable access to banking, giving customers the time and information they need to challenge decisions or find alternative arrangements.


Lord Livermore
Financial Secretary (HM Treasury)
14th Oct 2025
To ask His Majesty's Government what steps they are taking to ensure the continued acceptance of personal cheques by banks.

Cheques remain an important part of the UK’s payments landscape. While there has been a decline in overall cheque volumes, they continue to be used by many individuals, businesses, charities and other voluntary organisations. Cheques can be deposited through a range of different channels, including at local bank branches, shared Banking Hubs and the Post Office.

To secure the future of cheque usage in the UK, HM Treasury introduced legislative measures in 2015 to allow banks and building societies to introduce ‘cheque imaging’. Cheque imaging allows a digital image of a cheque to be sent for clearing, rather than the paper cheque itself, and has also enabled people to pay in cheques via their smartphone or tablet.

Lord Livermore
Financial Secretary (HM Treasury)
17th Oct 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential implications for her policy on the triple lock for the State Pensions of the report by the International Monetary Fund entitled United Kingdom: 2025 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for United Kingdom, published on 25 July 2025.

The International Monetary Fund (IMF) is an independent international organisation. The Government engages regularly and constructively with the IMF, including during the annual bilateral surveillance process known as Article IV.

The Government is committed to the triple lock for the duration of this Parliament.

James Murray
Chief Secretary to the Treasury
21st Oct 2025
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential impact of nature depletion on trends in the level of GDP growth.

The Treasury continues to make progress and explore ways to strengthen processes for assessing the climate and environmental impacts of fiscal decisions and improve the Green Book in line with emerging evidence and best practice.

The Government is investing in sustainable farming and nature recovery, both boosting productivity and supporting food and economic security.

James Murray
Chief Secretary to the Treasury
21st Oct 2025
To ask the Chancellor of the Exchequer, whether she has (a) undertaken work, (b) commissioned research and (c) had discussions with the Secretary of State for Transport on (i) revenue modelling and (ii) impact assessments on potential options for replacing Fuel Duty with (A) distance-based and (B) pay-per-mile road pricing since July 2024.

Fuel duty is projected to raise £24.4bn in 2025/26 and will remain in place. At Autumn Budget 2024, the Government announced continued support for people and businesses by extending the temporary 5p fuel duty cut and cancelling the planned increase in line with inflation for 2025/26.

The Chancellor meets with her Ministerial colleagues on a regular basis to discuss a wide range of issues. The Government keeps the tax system under review, with changes announced at fiscal events.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
22nd Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact pay-per-mile road pricing on (a) rural motorists, (b) low-income drivers and (c) small businesses.

Fuel duty is projected to raise £24.4bn in 2025/26 and will remain in place. At Autumn Budget 2024, the Government announced continued support for people and businesses by extending the temporary 5p fuel duty cut and cancelling the planned increase in line with inflation for 2025/26.

The Chancellor meets with her Ministerial colleagues on a regular basis to discuss a wide range of issues. The Government keeps the tax system under review, with changes announced at fiscal events.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
22nd Oct 2025
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential impact of a national road-user charging system on (a) data-protection and (b) costs in administration.

Fuel duty is projected to raise £24.4bn in 2025/26 and will remain in place. At Autumn Budget 2024, the Government announced continued support for people and businesses by extending the temporary 5p fuel duty cut and cancelling the planned increase in line with inflation for 2025/26.

The Chancellor meets with her Ministerial colleagues on a regular basis to discuss a wide range of issues. The Government keeps the tax system under review, with changes announced at fiscal events.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
21st Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of increasing taxes on the land based gambling sector on (a) jobs and (b) high street investment.

The Government makes tax policy decisions at fiscal events. If any changes are made to gambling duties at Budget, legislation will be accompanied by a Tax Information and Impact Note which will set out the expected impacts.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
22nd Oct 2025
To ask the Chancellor of the Exchequer, if she will take steps to reduce the number of illegal tobacco and vaping products on sale in North Shropshire.

The Government is committed to reducing the number of illicit tobacco and vaping products on sale nationally.

For tobacco, HM Revenue and Customs (HMRC) has a robust strategy to tackle the illicit tobacco trade. HMRC works closely with Trading Standards to disrupt the illicit tobacco trade at retail level – known as Operation CeCe. In its first three years, more than 46 million illegal cigarettes and 12,600kg of hand-rolling tobacco were seized.

In July 2023, HM Revenue and Customs introduced a strengthened sanctions regime for breaches of the UK Tobacco Track and Trace System to combat illicit tobacco sales. New powers were also given to Trading Standards to make referrals to HMRC where they find evidence of high street retailers selling tobacco products that do not comply with the UK Tobacco Track and Trace System.

In January 2024, HMRC and Border Force published their latest illicit tobacco strategy, ‘Stubbing Out the Problem’. This sets out the Governments’ continued commitment to restrict the trade in illicit tobacco with a focus on reducing demand, and to tackle and disrupt organised crime groups. This strategy is supported by £100 million of new smokefree funding allocated over 5 years to boost existing HMRC and Border Force enforcement capability.

As with tobacco, there is a cross-government approach to reducing the number of illegal vapes. The vaping equivalent of Operation CeCe, Operation Joseph, led to the seizure of over 1 million illegal vapes in 2023-24, the last full year for which statistics are available.

HMRC are also working closely with both Trading Standards and Border Force to develop a robust compliance approach for the introduction of Vaping Products Duty (VPD) on 1 October 2026.

VPD is a new excise duty on vaping products, which will introduce additional compliance powers and controls across the vaping supply chain. This includes the introduction of a Vaping Duty Stamps (VDS) scheme, which will require highly secure stamps to be placed on all duty paid goods, supporting enforcement agencies and customers to identify illegal products.

HMRC are recruiting over 300 staff to strengthen this compliance approach and deliver VPD.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
13th Oct 2025
To ask His Majesty's Government what percentage of the trade of Northern Ireland is with (1) the rest of the UK, (2) the Republic of Ireland, (3) the rest of the EU, and (4) the rest of the world, and how those percentages compare to 2016.

The latest available data from the Northern Ireland Statistics and Research Agency (NISRA) provides the following estimates for the percentage of Northern Ireland’s trade by destination:

Trade Partner

Industry Sector

2016 value of NI trade (£m) and proportion of total NI trade

2023 value of NI trade (£m) and proportion of total NI trade

Great Britain

All industries

26,712.73 (62%)

33,325.48 (56%)

Ireland

All industries

5,571.31 (13%)

12,412.28 (29%)

Rest of the Europe Union (EU excluding Ireland)

All industries

4,327.24 (10%)

6,082.86 (14%)

Rest of the World (all countries outside the UK and EU)

All industries

6,307.29 (15%)

8,136.56 (19%)

Source: Northern Ireland Statistics and Research Agency (NISRA), Last updated 11/12/2024, NISRA website, NIETS Trade in Goods and Services, https://data.nisra.gov.uk/table/NIETS02. Accessed on: 24/10/2025


The Government is committed to the UK internal market and looks forward to receiving the report of the Independent Monitoring Panel shortly. This panel exists to provide vital independent oversight and assurance over the flows of goods within the UK internal market system.

Lord Livermore
Financial Secretary (HM Treasury)
13th Oct 2025
To ask His Majesty's Government what processes are in place to monitor diversion in supply chains for goods going to Northern Ireland from the rest of the UK.

The latest available data from the Northern Ireland Statistics and Research Agency (NISRA) provides the following estimates for the percentage of Northern Ireland’s trade by destination:

Trade Partner

Industry Sector

2016 value of NI trade (£m) and proportion of total NI trade

2023 value of NI trade (£m) and proportion of total NI trade

Great Britain

All industries

26,712.73 (62%)

33,325.48 (56%)

Ireland

All industries

5,571.31 (13%)

12,412.28 (29%)

Rest of the Europe Union (EU excluding Ireland)

All industries

4,327.24 (10%)

6,082.86 (14%)

Rest of the World (all countries outside the UK and EU)

All industries

6,307.29 (15%)

8,136.56 (19%)

Source: Northern Ireland Statistics and Research Agency (NISRA), Last updated 11/12/2024, NISRA website, NIETS Trade in Goods and Services, https://data.nisra.gov.uk/table/NIETS02. Accessed on: 24/10/2025


The Government is committed to the UK internal market and looks forward to receiving the report of the Independent Monitoring Panel shortly. This panel exists to provide vital independent oversight and assurance over the flows of goods within the UK internal market system.

Lord Livermore
Financial Secretary (HM Treasury)
13th Oct 2025
To ask His Majesty's Government what assessment they have made of the implications for the UK’s international reputation as a centre for global capital markets of the fall in sums raised through initial public offerings, declining share ownership by households, and the level of investment by UK pension schemes and insurers in the UK stock markets.

The Government has delivered an ambitious programme of reforms to make it easier for all firms to list and raise capital on UK markets. This includes overhauling the Prospectus regime and Listing Rules, providing more flexibility to firms and founders raising capital on UK markets.

At Mansion House 2025, the Government published its Financial Services Growth and Competitiveness Strategy, setting out our ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets a core pillar.

At Mansion House, the Chancellor also announced the formation of a Listings Taskforce to support businesses to list and grow in the UK.

In the last few weeks, recent IPOs such as The Beauty Tech Group, Princes Group, Fermi America and Shawbrook Bank have highlighted the continued appeal of the London Stock Exchange for ambitious companies.

Lord Livermore
Financial Secretary (HM Treasury)
17th Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of removing VAT from children’s bicycles.

VAT is a broad-based tax on consumption and the 20 per cent standard rate applies to most goods and services. Taxation is a vital source of revenue that helps to fund vital public services.

Evidence suggests that businesses only partially pass on any savings from lower VAT rates. In some cases, reliefs do not represent good value for money, as there is no guarantee that savings will be passed on to consumers.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
21st Oct 2025
To ask His Majesty's Government what recent estimate they have made of the impact of Brexit on the economy.

The Office for Budget Responsibility (OBR) is the Government’s official forecaster.

In 2020, the OBR estimated that the additional trade barriers associated with leaving the EU will reduce trade intensity by 15 per cent and as a result GDP will be 4 per cent lower than it otherwise would have been. The OBR estimated that around two-fifths of the 4 per cent impact had already occurred by the time the EU-UK Trade and Cooperation Agreement came into force, that GDP would be 2.7 per cent lower by 2025, with the remaining reduction occurring by 2031.

In the OBR’s March 2024 Economic and Fiscal Outlook, they reaffirmed these assumptions were on track, and as of Spring 2025 these forecasts were unchanged.

Other independent studies are also consistent with this analysis, for example the National Institute of Economic and Social Research estimates that GDP will be 5 to 6 per cent lower as a result of Brexit.

Lord Livermore
Financial Secretary (HM Treasury)
17th Oct 2025
To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the UK’s approach to VAT on hospitality compared with EU member states.

The Government recognises the significant contribution made by hospitality businesses to economic growth and social life in the UK.

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. The UK’s VAT rate of 20 per cent is close to the OECD average of 19.3 per cent. The UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD, at £90,000. This keeps the majority of businesses out of the VAT regime altogether.

HMRC estimate that the cost of a 5 per cent reduced rate for accommodation, hospitality and tourist attractions would be around £13 billion this financial year. If the scope were also to include alcoholic beverages, the cost would be approximately £3 billion greater.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
17th Oct 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 8 September 2025 to Question 71255 on the Restoring Your Railway Fund, if she will publish all the assessments undertaken by her Department relating to the decision to cancel the Restoring Your Railway fund.

In her first week on the 8th of July 2024, the Chancellor of the Exchequer instructed HM Treasury officials to undertake an audit of public spending and public finances left by the last government. The audit’s findings showed a devastating forecast overspend on departmental spending of £21.9 billion above the resource departmental expenditure limit (RDEL) totals that had been set at Spring Budget 2024.

Taking immediate action to respond to the spending pressure on the UK’s public finances left by the last government, the government cancelled the Restoring Your Railway programme as a vital cost-saving measure of £85 million.

HM Treasury always carefully considers the impact of its decisions, but had to make difficult decisions in light of the black hole left by the last government.

James Murray
Chief Secretary to the Treasury
21st Oct 2025
To ask the Chancellor of the Exchequer, what fiscal steps her Department is taking to utilise the (a) protection and (b) restoration of nature to increase trends in the level of green economic growth.

The Government recognises that nature makes an important contribution to green economic growth and is taking action to invest in our natural assets.

The Government is investing in sustainable farming and nature recovery, both boosting productivity and supporting food and economic security.

To help deliver its environmental ambitions, the Government is also seeking to create the conditions to mobilise additional private finance into nature, including by driving the development of high-integrity nature markets for the UK.

James Murray
Chief Secretary to the Treasury
22nd Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of nationalising the rail network on the Government's (a) balance sheet, (b) debt and (c) future liabilities in each of the next ten years.

The Office for National Statistics (ONS) are responsible for classification decisions and measurement of public debt. Both publicly and privately owned DfT-contracted train operating companies are already included in the public sector, classified currently by the ONS as public non-financial corporations. Network Rail is also already classified to central government. HM Treasury and Department for Transport officials will assist the ONS in this work as required.

James Murray
Chief Secretary to the Treasury
13th Oct 2025
To ask His Majesty's Government what steps they are taking to update financial technology regulations.

The Government is committed to making the UK the best place for Fintechs, including payment providers, to start, scale and list.

The National Payments Vision, published in November 2024, set out the Government's ambitions for the UK’s payments sector to deliver world-leading payments. It established three key pillars to guide future activity: innovation, competition and security. To implement this, the Payments Vision Delivery Committee, chaired by HM Treasury, is overseeing work to renew the UK’s retail payments infrastructure, including looking at access for non-bank payment providers.

Building on this, the Financial Services Growth and Competitiveness Strategy, published in July, delivers on the Government’s mission to shape a regulatory environment for financial services that is proportionate, predictable and internationally competitive, embracing innovation and leveraging the UK’s leadership in Fintech.

Lord Livermore
Financial Secretary (HM Treasury)
13th Oct 2025
To ask His Majesty's Government what steps they are taking to ensure that financial technology regulatory reforms, including access for non-bank payment providers to payment infrastructure, maintain consumer protection and market transparency.

The Government is committed to making the UK the best place for Fintechs, including payment providers, to start, scale and list.

The National Payments Vision, published in November 2024, set out the Government's ambitions for the UK’s payments sector to deliver world-leading payments. It established three key pillars to guide future activity: innovation, competition and security. To implement this, the Payments Vision Delivery Committee, chaired by HM Treasury, is overseeing work to renew the UK’s retail payments infrastructure, including looking at access for non-bank payment providers.

Building on this, the Financial Services Growth and Competitiveness Strategy, published in July, delivers on the Government’s mission to shape a regulatory environment for financial services that is proportionate, predictable and internationally competitive, embracing innovation and leveraging the UK’s leadership in Fintech.

Lord Livermore
Financial Secretary (HM Treasury)
13th Oct 2025
To ask His Majesty's Government, following the UK-India investment agreements announced on 9 October, what cybersecurity policies are in place to protect cross-border digital financial transactions and financial technology cooperation between the UK and India.

Cyber security is a top priority for the Government, and HM Treasury works with the financial authorities, industry and with international partners to strengthen the financial sector’s resilience to threats and hazards of all origins, including cyber risks.

Cross-border transactions are an essential part of the global financial system, and Financial Market Infrastructure (FMI) plays a crucial role in enabling financial institutions and their customers to make payments, both in the UK and internationally.

Financial authorities deploy a range of tools to ensure FMI firms are resilient to the wide range of risks that they could face and that transactions are secure. This includes threat-led penetration testing and sector-wide cyber stress testing, alongside technical advice provided by the National Cyber Security Centre and the National Protective Security Authority.

The UK supports efforts to enhance cross border payments and is committed to achieving the aims of the G20 Roadmap, which seeks to make cross border payments faster, cheaper, more transparent and accessible.

Lord Livermore
Financial Secretary (HM Treasury)
16th Oct 2025
To ask His Majesty's Government what steps they are taking to strengthen the United Kingdom’s regulatory framework for crypto assets to address risks arising from inconsistent international regulation.

The Government intends to bring forward legislation this year to create a comprehensive financial services regulatory regime for cryptoassets in the UK.

The UK also continues to engage with key international partners to respond to the global challenges and opportunities presented by digital asset innovation, including through fora such as the Financial Stability Board.

Lord Livermore
Financial Secretary (HM Treasury)
17th Oct 2025
To ask the Chancellor of the Exchequer, what the (a) average waiting time for people calling and (b) time people spent on hold for HMRC was in the last year.

HMRC telephony performance data, including the average speed of answering a customer’s call, is published on a regular basis and can be accessed at: https://www.gov.uk/government/collections/hmrc-quarterly-performance-updates

The definition of ‘average speed of answering a customer’s call’ is the average time spent waiting in the queue for an adviser. This is from the time that the customer finished listening to HMRC’s automated messages and completed their selection from HMRC’s automated menu to the time when they get to speak to an adviser.

The below table shows the average amount of time people spent on hold with HMRC – this is when a call has been answered by an adviser and the individual has subsequently been put on hold. The data covers the past year, broken down by quarter:

2024-25 Q1

2024-25 Q2

2024-25 Q3

2024-25 Q4

1min 4s

1min 25s

1min 16s

1min 15s

HMRC are taking steps to make sure more of their services are digital, so customers can self-serve online. HMRC online services and the HMRC app are convenient to access and receive high customer satisfaction ratings. As more people use HMRC online services, advisers are freed up to support those with more complex queries and those who are digitally excluded.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, whether she plans to increase business rates on (a) airports and (b) airport operators; and if she will make an assessment of the potential impact of such an increase on regional airport (i) viability and (ii) connectivity.

The Valuation Office Agency (VOA) conducts analysis of changes in rateable value to prepare for regular revaluations. The VOA is currently working on a revaluation of all non-domestic properties, which will come into effect on 1 April 2026. For the upcoming 2026 revaluation, as with other revaluations, the VOA is receiving ongoing representations from the airport sector.

The Government will confirm the rates for the new multipliers at Budget 2025, taking account of the outcomes of the 2026 revaluation as well as the broader economic and fiscal context.

We are fully committed to supporting the aviation industry. The sector is vital to our future as a global trading nation and will play an important role in local economies.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Oct 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of abolishing business rates for retail, hospitality and leisure businesses in (a) Fylde constituency and (b) Lancashire.

Business rates are a vital source of revenue for Local Government. The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

As announced at Autumn Budget 2024, the Government will introduce permanently lower multipliers for retail, hospitality, and leisure properties with ratable values below £500,000 from 2026-27. This permanent tax cut will ensure they benefit from much-needed certainty and support.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of planned business rates reforms on the wholesale sector; and if she will consider extending retail-equivalent reliefs to wholesalers.

The Government currently provides a 40 per cent business rates relief for eligible retail, hospitality, and leisure (RHL) properties, up to a cash cap of £110,0000 per business, in 2025-26. Eligibility for the RHL relief scheme is outlined in guidance published by the Ministry of Housing, Communities & Local Government, and is focused on RHL properties that are wholly or mainly open to visiting members of the public. This is to ensure that support is targeted at in-person RHL, thereby helping to rebalance the burden between online and high-street retailers. There are no plans to expand the scope of this relief.

From 2026/27, the Government is introducing permanently lower business rates multipliers for RHL properties with rateable values (RVs) below £500,000. Details on which RHL properties will qualify for these lower multipliers can be found online here:

https://www.gov.uk/guidance/business-rates-multipliers-qualifying-retail-hospitality-or-leisure.

To fund these lower RHL multipliers sustainably, from 2026/27, the Government is also introducing a higher multiplier on properties with RVs of £500,000 and above.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Oct 2025
To ask the Chancellor of the Exchequer, what assessment she made of the role of wholesalers in maintaining supply chain resilience when determining eligibility for business rates reliefs.

The Government currently provides a 40 per cent business rates relief for eligible retail, hospitality, and leisure (RHL) properties, up to a cash cap of £110,0000 per business, in 2025-26. Eligibility for the RHL relief scheme is outlined in guidance published by the Ministry of Housing, Communities & Local Government, and is focused on RHL properties that are wholly or mainly open to visiting members of the public. This is to ensure that support is targeted at in-person RHL, thereby helping to rebalance the burden between online and high-street retailers. There are no plans to expand the scope of this relief.

From 2026/27, the Government is introducing permanently lower business rates multipliers for RHL properties with rateable values (RVs) below £500,000. Details on which RHL properties will qualify for these lower multipliers can be found online here:

https://www.gov.uk/guidance/business-rates-multipliers-qualifying-retail-hospitality-or-leisure.

To fund these lower RHL multipliers sustainably, from 2026/27, the Government is also introducing a higher multiplier on properties with RVs of £500,000 and above.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Oct 2025
To ask the Chancellor of the Exchequer, whether she plans to retain Digital Services Tax.

The Digital Services Tax is an interim solution to widely held concerns with the international corporate tax framework, and the UK remains committed to remove it once a global solution on the reallocation of taxing rights is in place.

As the Chancellor has previously said, we will continue to make sure that businesses pay their fair share of tax, including businesses in the digital sector.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, whether she is considering changing the child benefit taper system to reflect household rather than individual income.

The Government understands the concerns that have been raised about basing the High Income Child Benefit Charge (HICBC) on individual rather than household incomes. However, basing the charge on household rather than individual incomes would come at a significant fiscal cost if we were to ensure that no families lose out.

By withdrawing Child Benefit from high-income parents where the higher earner earns £60,000 or more, the HICBC helps to ensure the sustainability of the public finances and protect our vital public services.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, whether HMRC plans to issue guidance for charitable trustees on the treatment of legacies under section 523A of the draft Finance Bill 2025–26.

Charities rightly enjoy generous tax reliefs, worth over £6bn in 2024. However, a small number of charities are receiving tax relief in ways that were not intended by Parliament. Charity tax rules are being strengthened to improve HMRC’s ability to challenge abusive arrangements in an appropriate and proportionate way.

The new charity rules to be included in the forthcoming Finance Bill for legacy giving and attributable income will help ensure a charity uses its tax relieved income for its charitable purposes. The rules are well targeted and so should not deter legitimate donors from leaving a legacy to charity or prevent charities from building a long-term endowment.

The updated rule for tainted donations will replace the current purpose test with an outcome test in order to better prevent the abuse of tax reliefs through arrangements designed to give financial advantages to donors in return for their donation. They are not intended to affect genuine charitable giving or penalise honest donors.

Updated guidance will be tested with the sector and published prior to the changes taking effect. This will support charities and donors, giving clarity and reassurance around the rules and making it clear that the honest majority of donors and charities will remain unaffected by these reforms.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of including charitable legacies within the scope of income tax on levels of legacy giving to (a) charities and (b) community foundations.

Charities rightly enjoy generous tax reliefs, worth over £6bn in 2024. However, a small number of charities are receiving tax relief in ways that were not intended by Parliament. Charity tax rules are being strengthened to improve HMRC’s ability to challenge abusive arrangements in an appropriate and proportionate way.

The new charity rules to be included in the forthcoming Finance Bill for legacy giving and attributable income will help ensure a charity uses its tax relieved income for its charitable purposes. The rules are well targeted and so should not deter legitimate donors from leaving a legacy to charity or prevent charities from building a long-term endowment.

The updated rule for tainted donations will replace the current purpose test with an outcome test in order to better prevent the abuse of tax reliefs through arrangements designed to give financial advantages to donors in return for their donation. They are not intended to affect genuine charitable giving or penalise honest donors.

Updated guidance will be tested with the sector and published prior to the changes taking effect. This will support charities and donors, giving clarity and reassurance around the rules and making it clear that the honest majority of donors and charities will remain unaffected by these reforms.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, whether HMRC plans to publish (a) examples and (b) guidance on the operation of the proposed outcome test for tainted charity donations; and what steps she is taking to prevent donors being penalised for actions beyond their control by recipient charities.

Charities rightly enjoy generous tax reliefs, worth over £6bn in 2024. However, a small number of charities are receiving tax relief in ways that were not intended by Parliament. Charity tax rules are being strengthened to improve HMRC’s ability to challenge abusive arrangements in an appropriate and proportionate way.

The new charity rules to be included in the forthcoming Finance Bill for legacy giving and attributable income will help ensure a charity uses its tax relieved income for its charitable purposes. The rules are well targeted and so should not deter legitimate donors from leaving a legacy to charity or prevent charities from building a long-term endowment.

The updated rule for tainted donations will replace the current purpose test with an outcome test in order to better prevent the abuse of tax reliefs through arrangements designed to give financial advantages to donors in return for their donation. They are not intended to affect genuine charitable giving or penalise honest donors.

Updated guidance will be tested with the sector and published prior to the changes taking effect. This will support charities and donors, giving clarity and reassurance around the rules and making it clear that the honest majority of donors and charities will remain unaffected by these reforms.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of (a) reviewing and (b) revising the proposed changes to (i) the definition of attributable income and (ii) charity donation rules during the consultation on the draft Finance Bill 2025-2026.

Charities rightly enjoy generous tax reliefs, worth over £6bn in 2024. However, a small number of charities are receiving tax relief in ways that were not intended by Parliament. Charity tax rules are being strengthened to improve HMRC’s ability to challenge abusive arrangements in an appropriate and proportionate way.

The new charity rules to be included in the forthcoming Finance Bill for legacy giving and attributable income will help ensure a charity uses its tax relieved income for its charitable purposes. The rules are well targeted and so should not deter legitimate donors from leaving a legacy to charity or prevent charities from building a long-term endowment.

The updated rule for tainted donations will replace the current purpose test with an outcome test in order to better prevent the abuse of tax reliefs through arrangements designed to give financial advantages to donors in return for their donation. They are not intended to affect genuine charitable giving or penalise honest donors.

Updated guidance will be tested with the sector and published prior to the changes taking effect. This will support charities and donors, giving clarity and reassurance around the rules and making it clear that the honest majority of donors and charities will remain unaffected by these reforms.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that reforms to the charity tax regime do not discourage long-term endowment building by local community foundations.

Charities rightly enjoy generous tax reliefs, worth over £6bn in 2024. However, a small number of charities are receiving tax relief in ways that were not intended by Parliament. Charity tax rules are being strengthened to improve HMRC’s ability to challenge abusive arrangements in an appropriate and proportionate way.

The new charity rules to be included in the forthcoming Finance Bill for legacy giving and attributable income will help ensure a charity uses its tax relieved income for its charitable purposes. The rules are well targeted and so should not deter legitimate donors from leaving a legacy to charity or prevent charities from building a long-term endowment.

The updated rule for tainted donations will replace the current purpose test with an outcome test in order to better prevent the abuse of tax reliefs through arrangements designed to give financial advantages to donors in return for their donation. They are not intended to affect genuine charitable giving or penalise honest donors.

Updated guidance will be tested with the sector and published prior to the changes taking effect. This will support charities and donors, giving clarity and reassurance around the rules and making it clear that the honest majority of donors and charities will remain unaffected by these reforms.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to the Soft Drinks Industry Levy thresholds on future investment in the development of healthier soft drinks.

I refer the Hon. Member the answer that I gave to PQ UIN 81415.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Oct 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of lowering the starting threshold of the Soft Drinks Industry Levy on levels of sugar consumption.

I refer the Hon. Member the answer that I gave to PQ UIN 81415.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, whether she plans to remove the 40-year Vehicle Excise Duty exemption for historic vehicles; and whether she has made an assessment of the potential impact of such a change on (a) the classic car sector and (b) the owners currently benefiting from that exemption.

The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events in the context of the public finances.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of extending the expensive car supplement to electric vehicles registered on the affordability of low-emission vehicles; and whether she plans to increase the threshold in line with inflation.

As set out at Autumn Budget 2024, the Government will consider the merits of raising the threshold for zero emissions cars only at a future fiscal event. The government keeps all taxes and thresholds under review.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Oct 2025
To ask the Chancellor of the Exchequer, on how many occasions a repayment of overpaid tax to a customer who has submitted a voluntary self-assessment return been delayed by longer than (a) three, (b) six and (c) 12 months in the latest period for which data is available.

HMRC recognise that repayments are important for customers. They prioritise them and work hard to ensure they are processed as quickly and securely as possible.

Like any financial institution, HMRC are an attractive target for organised criminals who continually test their security and repayment controls. HMRC aim to balance ensuring prompt payments to eligible customers with effective revenue protection from fraudsters.

Voluntary returns are submitted by customers who are not required to file a Self Assessment return but choose to do so, often to reclaim overpaid tax. These cases can require additional manual checks, particularly where PAYE income is involved, to ensure repayments are not duplicated.

Because customers submitting voluntary Self Assessment returns are not required to file, these cases are not currently included separately in HMRC’s reported performance data. While these returns are worked and processed by operational teams, they fall outside the scope of published metrics and are therefore not counted in official service level reporting.

HMRC has communicated to agent communities that customers can help reduce delays by registering for Self Assessment before submitting a return. Additional staff have been deployed to reduce delays in processing voluntary Self Assessment repayment cases, particularly those requiring manual checks. Work is also underway to explore automation opportunities to improve processing times and reduce the number of customers affected by repayment delays.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Oct 2025
To ask the Chancellor of the Exchequer, what HMRC's target timeline for paying out Construction Industry Scheme tax rebates to small businesses is; and what proportion of rebates are paid within that time.

HMRC recognise that repayments are important for customers. They prioritise them and work hard to ensure they are processed as quickly and securely as possible.

Individuals can check when they are likely to receive a response by using HMRC’s ‘Where’s my reply’ tool which is available here:

www.gov.uk/guidance/check-when-you-can-expect-a-reply-from-hmrc

In relation to CIS repayments, HMRC are recruiting and training more colleagues to improve the service and issue CIS repayments more quickly. In cases of hardship, taxpayers can contact HMRC to look at their case and, where possible, make the repayment sooner.

HMRC’s service standard is to respond to 80% of CIS repayment claims for limited companies within 15 working days. The department has a plan in place to clear existing backlogs and return to meeting the service level agreement by January 2026.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
14th Oct 2025
To ask the Chancellor of the Exchequer, whether any (a) written briefings, (b) submissions, and (c) minutes on inheritance tax changes were (i) sent to and (ii) copied to Emma Reynolds MP since 1 July 2024.

HM Treasury Ministers routinely receive briefings and information on an extensive range of subjects relating to the department’s responsibilities and their specific portfolios. As the Minister responsible for the UK tax system, the Exchequer Secretary to the Treasury’s portfolio of responsibilities includes inheritance tax. My Rt Hon Friend the Secretary of State for Environment, Food, and Rural Affairs has not been the Exchequer Secretary to the Treasury. She was Parliamentary Secretary at HM Treasury and the Department of Work and Pensions from 9 July 2024 to 14 January 2025. She was Economic Secretary to the Treasury from 14 January 2025 to 5 September 2025.

HM Treasury Ministers also discuss a range of subjects with Ministers from all other departments, including the Department for Environment, Food and Rural Affairs.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
14th Oct 2025
To ask the Chancellor of the Exchequer, whether Emma Reynolds MP received any correspondence from the (a) Treasury and (b) the Cabinet office on the (i) timetable, (ii) options and (iii) modelling for inheritance tax changes since 1 July 2024.

HM Treasury Ministers routinely receive briefings and information on an extensive range of subjects relating to the department’s responsibilities and their specific portfolios. As the Minister responsible for the UK tax system, the Exchequer Secretary to the Treasury’s portfolio of responsibilities includes inheritance tax. My Rt Hon Friend the Secretary of State for Environment, Food, and Rural Affairs has not been the Exchequer Secretary to the Treasury. She was Parliamentary Secretary at HM Treasury and the Department of Work and Pensions from 9 July 2024 to 14 January 2025. She was Economic Secretary to the Treasury from 14 January 2025 to 5 September 2025.

HM Treasury Ministers also discuss a range of subjects with Ministers from all other departments, including the Department for Environment, Food and Rural Affairs.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
20th Oct 2025
To ask the Chancellor of the Exchequer, whether her Department is working with (a) EU and (b) G7 partners to coordinate the release of (i) frozen Russian-linked assets and (ii) the proceeds from the sale of Chelsea Football Club; and which body holds final authority over the (A) release and (B) allocation of those funds.

The Chancellor is actively engaging with EU and G7 partners through regular discussions with G7 finance ministers to explore all viable legal avenues to make use of Russia’s sovereign assets for the benefit of Ukraine, in line with international law.

Separately, the Government is working hard to ensure that the proceeds from the sale of Chelsea Football Club are directed towards humanitarian causes in Ukraine as swiftly as possible. These proceeds are not sovereign Russian assets, but rather funds owned by a private entity (Fordstam Ltd), which is itself owned by a Designated Person under UK sanctions regulations – Mr Abramovich.

In common with all other frozen funds, the proceeds from the sale of Chelsea Football Club remain the property of the Designated Person. Agreement must be given by Fordstam Ltd for these funds to be transferred to a new independent charitable foundation for humanitarian assistance in Ukraine. To date, they have not provided this agreement.

While the door for negotiating an agreement remains open, the Government is fully prepared to pursue this matter through the courts if required.

Lucy Rigby
Economic Secretary (HM Treasury)
16th Oct 2025
To ask the Chancellor of the Exchequer, if she will publish a breakdown of her Department's August 2024 individual level analysis of Income Tax brackets by (a) ethnicity and (b) nationality.

HMRC do not publish individual level analysis of Income Tax brackets by (a) ethnicity or (b) nationality.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
20th Oct 2025
To ask the Chancellor of the Exchequer, how many complaints (a) her Department, (b) the Financial Conduct Authority, (c) the Prudential Regulation Authority and (d) the Financial Ombudsman Scheme have received on high cost business lenders who have offered loans with interest rates payable of more than 40%.

The Treasury receives correspondence across a wide variety of subjects including financial services. While we are not able to measure the number of complaints the department receives in relation to high-cost credit for business loans with interest rates payable of more than 40%, the volume of correspondence on the cost of credit in relation to business loans is generally low.

The Financial Ombudsman Service (FOS) publishes annual and quarterly insights into which areas are attracting most complaints. In its last quarterly publication, it noted that complaints about unaffordable lending had halved. That data-point does not, however, distinguish between household and commercial credit and the areas of topical complaints may change quarter on quarter. In the last five years, credit card related complaints to the FOS have been one of the top five areas of complaints, but business lending specifically is not a significant source of FOS disputes in comparison to household and personal credit.

The Bank of England’s ‘bankstats’ data provides insights into business and household credit, including the effective interest rates for SMEs on new and outstanding loans. The monthly average of UK resident banks’ sterling weighted loans for new advances to SMEs now stands at 6.35%, as of 31st August 2025, a figure that has tracked down as the base rate has fallen.

Lucy Rigby
Economic Secretary (HM Treasury)
20th Oct 2025
To ask the Chancellor of the Exchequer, what estimate her Department has made of the total value of landfill tax reclaimed by private landfill operators for (a) cover and (b) fluff material since 2000.

Landfill Tax was introduced in 1996 as a behavioural tax encouraging the diversion of material away from landfill to reuse and recycling. It has been a key driver behind local authority waste to landfill in England falling by 90% since 2000.

HMRC refunded landfill tax reclaimed by private landfill operators following the Waste Recycling Group Limited case in 2008. £147m related to daily cover and haul roads and £133m related to base and side fluff. Refunds ceased in 2013 and since then repayment claims totaling £3.9bn have been prevented as a result of successful litigation.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
20th Oct 2025
To ask the Chancellor of the Exchequer, what estimate she has made of the total cost of electric vehicle (a) incentives and (b) tax reliefs for fleet and company car (i) leasing and (ii) purchases to the exchequer; and what assessment she has made of the value for money of those schemes.

The Government publishes annual statistics on HMRC’s taxable benefits in kind for company cars and company car fuel. These reports document the number of benefit in kind recipients, the CO2 emissions of company cars and their total taxable value. The latest statistics for the tax year 2023-24 were published in June 2025, and are accessible here: https://www.gov.uk/government/statistics/benefits-in-kind-statistics-june-2025/benefit-in-kind-statistics-commentary-june-2025

The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events in the context of the public finances.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
20th Oct 2025
To ask the Chancellor of the Exchequer, what the value is of Government funding to the National Wealth Fund that is unspent.

As of 14 October 2025, the National Wealth Fund has committed £7.5 billion to projects supporting the Government’s growth and clean energy missions, mobilising £16.2 billion in private finance. This is just over 25% of NWF’s £27.8 billion capitalisation.

The National Wealth Fund expects to commit the vast majority of its £27.8 billion financial capacity over the next five years.

Dan Tomlinson
Exchequer Secretary (HM Treasury)