Asked by: Dan Carden (Labour - Liverpool Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made with Cabinet colleagues of the potential impact of rent inflation plays on levels of in-work poverty.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
According to the latest ONS data, annual rental price inflation slowed to 3.5% in January 2026, after peaking at 9.1% in March 2024. However, the Government recognises the pressure that rental inflation places on the finances of working households in the private rental sector.
The Government is taking action to reduce levels of in-work poverty for families by tackling the cost of living. Thanks to decisions the Government made at the Budget, households across Britain will now save around £150 on energy bills from April 2026. We have also removed the two-child benefit cap, which will lift 450,000 children out of poverty and we have increased the minimum wage, so that those on low incomes are properly rewarded for their hard work. Alongside this, the Government is taking steps to increase housing supply and improve conditions in the private rented sector, helping to ease pressure on renters.
Asked by: Dan Carden (Labour - Liverpool Walton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of rent inflation on the level of disposable incomes and consumer spending.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
According to the latest ONS data, annual rental price slowed to 3.5% in January 2026, after peaking at 9.1% in March 2024. However, the Government recognises the pressure that rental inflation places on the finances of households in the private rental sector.
The most effective way to keep rents down is by increasing housing supply across the UK. The Government’s Plan for Change has set a milestone to build 1.5m homes in this Parliament. This will help address the housing crisis which impacts everyone, especially private renters. The Government has also passed the Renter’s Rights Act 2025 which empowers 11 million renters in England to challenge unreasonable rent increases, giving them greater security and stability.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will assess the potential impact of her debt management policies on pension funds.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
Consistent with the debt management objective, the government assesses a range of cost and risk factors when setting its financing plans, in addition to demand considerations and market conditions. HM Treasury and the Debt Management Office regularly consult with gilt market investors, including pension funds, to provide participants with the opportunity to inform decisions on debt management.
The gilt holdings of pension funds will decline in the coming years as most private sector defined benefit pension schemes are closed to new members and will eventually wind down. This trend is well understood by the market – and it remains an important consideration when setting debt management policy. This was reflected in the 2026-27 UK Debt Management Office financing remit, which was announced on 3 March. The remit sets out a balanced and well-diversified gilt issuance programme across the range of maturities, in order to support maintaining an accessible, well-functioning gilt market.
Asked by: Neil Duncan-Jordan (Labour - Poole)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of ensuring that tax is not paid on state pensions.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
Exempting the State Pension from income tax entirely would reduce tax receipts substantially undermining the public services we all rely on – especially the NHS.
However, I can confirm that those whose sole income is the basic and full new State Pension, without any increments, will not pay any income tax this tax year or next.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what proportion of government debt over each of the past five financial years has been held by (a) domestic investors and (b) overseas investors.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
The ONS publishes estimates of holdings of government debt by sector. The latest available data, as at end 2025 Q3, splits holdings by overseas and domestic investors. ONS data shows a split of holdings between overseas and domestic investors of 28% and 72% respectively in 2021 Q3 and 33% and 67% respectively in 2025 Q3.
Asked by: Will Forster (Liberal Democrat - Woking)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of requiring parents to apply for Child Benefit on their eligibility to qualify for National Insurance credits.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Child Benefit is a non-means tested benefit payable to families as a contribution towards the cost of raising children. Successfully applying for Child Benefit automatically gives eligible parents and carers Class 3 National Insurance (NI) credits until their child turns twelve. The requirement to apply for Child Benefit to qualify for the corresponding NI credit has existed since the introduction of Child Benefit in 2010. A similar policy link between Child Benefit and an individual’s NI record applied previously via Home Responsibilities Protection.
Given the link between Child Benefit and an individual’s NI record is a long-standing feature of the system, HMRC has not conducted an assessment of the impacts of requiring parents to apply for Child Benefit to access these particular NI credits.
Asked by: James Wild (Conservative - North West Norfolk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the average length of time is for HMRC investigations into the potential underpayment of stamp duty land tax by individuals.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
There will be many factors that impact the length of time a case is open, including complexity and whether the customer wishes to appeal HMRC’s decision and enters a dispute resolution process.
Asked by: Andrew Snowden (Conservative - Fylde)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has issued guidance to HM Revenue and Customs on implementing the recommendations of the independent review of the loan charge.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government commissioned an independent review of the loan charge to bring the matter to a close for those affected, ensure fairness for all taxpayers and ensure that appropriate support is in place for those subject to the loan charge.
The Government accepted the review’s conclusion that the loan charge was an extraordinary piece of Government policy which necessitated an exceptional response, and is now legislating a new settlement opportunity that will assist those who have not yet settled to do so.
As a result, most individuals could see reductions of at least 50% in their outstanding loan charge liabilities, and an estimated 30% of individuals could have these liabilities written off entirely. To encourage more people to settle, the Government will write off the first £5,000 of liabilities in addition to the proposals put forward by Ray McCann.
The Government’s response to the review represents a fair and proportionate attempt to provide a route to resolution for those who have not yet been able to settle with HMRC. In turn, this requires those individuals to now come forward and engage with HMRC in good faith.
Asked by: Helen Maguire (Liberal Democrat - Epsom and Ewell)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the (a) effectiveness of the loan charge and (b) adequacy of HMRC’s approach to dealing with disguised remuneration schemes.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
I refer the Hon. Member to the answers I gave on 9 February 2026 to UIN 109841, 109843 and 109842.
Asked by: Helen Maguire (Liberal Democrat - Epsom and Ewell)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment has her Department made of the effectiveness of (a) the Loan Charge and (b) HMRC’s approach to dealing with disguised remuneration schemes.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
I refer the Hon. Member to the answers I gave on 9 February 2026 to UIN 109841, 109843 and 109842.