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.


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Secretary of State

Rishi Sunak
Chancellor of the Exchequer

Ministers of State
Steve Barclay - Chief Secretary to the Treasury
Penny Mordaunt - Paymaster General
Jesse Norman - Financial Secretary (HM Treasury)
John Glen - Minister of State (Treasury) (City)
Lord Agnew of Oulton - Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Kemi Badenoch - Exchequer Secretary (HM Treasury)
John Glen - Economic Secretary (HM Treasury)


Latest News (from Department Twitter Feed)

17 Jan 2021, 9:45 a.m.
The UK's Presidency of the G7 represents an exciting opportunity to lead the @G7 in building back better, supporting jobs, spreading economic growth fairly across all regions, and finding global solutions for global challenges. https://t.co/tq0Q0Nrd7O - Link
15 Jan 2021, 6:07 p.m.
At the Spending Review in November we committed over £1bn to fill thousands of potholes and repair hundreds of miles of local roads. #NationalPotholeDay https://t.co/t8Ve6q5BPL - Link
View All HM Treasury Tweets

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
Date Type Title
Dec. 01 Oral Questions Oral Answers to Questions
Dec. 10 Urgent Questions Future Relationship with the EU
Jan. 14 Written Statements Second-hand Margin Scheme in Northern Ireland: Motor Vehicles Sourced from Great Britain
Dec. 14 Westminster Hall Financial Reward for Government Workers and Key Workers
Jan. 13 Adjournment Debate Small Business Support: Covid-19
View All HM Treasury Commons Contibutions

HM Treasury - Bills and Acts in the Current Session

Tabled: 2nd March 2020

A Bill to authorise the use of resources for the years ending with 31 March 2020 and 31 March 2021; 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 year ending with 31 March 2020.

This Bill received Royal Assent on Monday 16th March 2020 and was enacted into law.

Tabled: 17th March 2020

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Tabled: 24th March 2020

A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.

This Bill received Royal Assent on Wednesday 25th March 2020 and was enacted into law.

Tabled: 9th July 2020

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Tabled: 13th July 2020

A Bill to make provision to reduce for a temporary period the amount of stamp duty land tax chargeable on the acquisition of residential property.

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Tabled: 8th December 2020

A Bill to make provision (including the imposition and regulation of new duties of customs) in connection with goods in Northern Ireland and their movement into or out of Northern Ireland; to make provision amending certain enactments relating to value added tax, excise duty or insurance premium tax; to make provision in connection with the recovery of unlawful state aid in relation to controlled foreign companies; and for connected purposes.

This Bill received Royal Assent on Thursday 17th December 2020 and was enacted into law.

Tabled: 21st October 2020

A Bill to make provision about financial services and markets; to make provision about debt respite schemes; to make provision about Help-to-Save accounts; and for connected purposes.


Last Event - 1st reading : House of Lords
Thursday 14th January 2021
(Read Debate)
Next Event - 2nd reading: House of Lords
Thursday 28th January 2021

HM Treasury - Draft Secondary Legislation

Dates Department Title
Published
14 Oct 2019, 4:09 p.m.
HM Treasury The Public Bodies (Abolition of Public Works Loan Commissioners) Order 2019
This Order abolishes the office of the Public Works Loan Commissioners (the “Commissioners”) who together were known as the Public Works Loans Board.

HM Treasury - Laid Secondary Legislation

Dates Department Title Type
Laid
13 Jan 2021
In Force
3 Feb 2021
HM Treasury Markets in Financial Instruments (Switzerland Equivalence) Regulations 2021
Parliamentary Status - Text of Legislation
Made negative procedure
These Regulations are made under powers conferred by Article 51(1) of, and paragraph 8(1) of Schedule 3 to, Regulation (EU) No. 600/2014 of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments, as it has effect in the UK (“MiFIR”). These powers have been added to MiFIR (and subsequently amended) by relevant EU exit instruments – in particular, S.I. 2018/1403, S.I. 2019/576 and S.I. 2019/710.
Laid
11 Jan 2021
In Force
31 May 2021
HM Treasury Major Sporting Events (Income Tax Exemption) Regulations 2021
Parliamentary Status - Text of Legislation
Draft affirmative procedure
These Regulations provide for an exemption from income tax on income earned in the UK in connection with football matches held in the UK as part of the Union des Associations Européennes de Football (UEFA) EURO 2020 final tournament. The exemption applies only to individuals within the meaning of “accredited person” (as defined by regulation 3), such as accredited players, officials or contractors of the participating national football associations, UEFA, UEFA Events SA and partner organisations. The individuals must be non UK resident in the tax year 2021-22 or, where the tax year is a split year in relation to the individual, the income must relate to the overseas part of the year.
View All HM Treasury Secondary Legislation

Petitions addressed by HM Treasury

Current Signatures Final Signatures Title Petition Deadline
149,138
Petition Closed

Pay Up Now! – Scrap the pay cap and give public servants a meaningful pay rise

Gov Responded - 9 Oct 2017 Debated on - 4 Dec 2017
12 Mar 2018
closed 2 years, 10 months ago

Every single person who works in public services needs and deserve a pay rise. It’s time for the pay cap to be scrapped, for the government to provide additional funding for public sector pay and for employers to put public sector workers pay up now.

146,351
Petition Closed

Give all key workers a 100% tax and Nat. Ins. holiday through COVID-19 crisis

Gov Responded - 27 Apr 2020 Debated on - 14 Dec 2020
1 Oct 2020
closed 3 months, 2 weeks ago

The government is helping private firms to protect jobs by paying up to 80% of staff wages through this crisis. If it can do this why can it not help key workers who will be putting themselves/their families at risk and working extra hard under extremely challenging and unprecedented circumstances.

119,587
Petition Closed

Keep Childcare Vouchers open beyond April 2018

Gov Responded - 12 Oct 2017 Debated on - 15 Jan 2018
18 Mar 2018
closed 2 years, 10 months ago

Hundreds of thousands of parents will lose out under the new tax-free childcare. The voucher schemes should be kept open alongside tax-free childcare to give parents a genuine choice for the support that best suits their family.

View All HM Treasury Petitions

HM Treasury Select Committee

HM Treasury Select Committee Home Page

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, and the Select Committee will occasionally publish formal reports of their findings.

Closed Inquiries
Spring Budget 2020 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 Infrastructure Appointment of Andrew Bailey as Governor of the Bank of England 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

HM Treasury Publications

Most Recent Publications
Date Title Type
Jan. 15 CST response to Scottish Government request for additional funding News and Communications
Jan. 15 Government safeguards vital ferry services News and Communications
Jan. 14 Treasury minutes – January 2021 Policy paper
View All HM Treasury Publications

HM Treasury Written Questions

Written Questions are submitted by Members of Parliament and the House of Lords to receive information or updates from a Department.

Departments are required to respond in a timely fashion and provide a response or requested information. Written Questions can compel detailed and specific information to be produced, and are frequently used as the source of news stories about the work of a Department.

Latest Written Question
Date Title Questioner
14 Jan 2021, 4:07 p.m. Alison Thewliss (Scottish National Party - Glasgow Central) Alison Thewliss (Scottish National Party - Glasgow Central)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will make it his policy to exempt people affected by dangerous cladding from Insurance Premium Tax.

Answered by John Glen - Economic Secretary (HM Treasury)

Insurance Premium Tax is a tax paid by insurers on all general insurance premiums. Insurance pricing is a decision which is affected by a wide range of factors, and the taxes that insurers pay are just one part of this. It is hard to predict the impact of an exemption on insurance pricing for those affected by unsafe cladding, as this largely depends on how the insurers would react. In addition, any loss in tax revenue would have to be balanced by a reduction in public spending, increased borrowing or increased taxation elsewhere.

While there is no current plan to introduce an exemption on insurance pricing for those affected by unsafe cladding, all taxes are kept under review and the views expressed to us are carefully considered as part of the annual Budget process.

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