Asked by: Wendy Morton (Conservative - Aldridge-Brownhills)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what fiscal headroom the Government is forecast to have against its fiscal rules in each year of the forecast period; what sensitivity analysis has been undertaken by the Office for Budget Responsibility regarding changes in growth, interest rates or inflation; and what assessment she has made of the level of risks to the Government’s ability to meet its fiscal targets.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
In line with the Office for Budget Responsibility (OBR)'s mandate, the OBR did not provide a formal assessment of performance against the fiscal rules at the Spring forecast on 3 March. The fiscal rules will be formally assessed alongside the Budget.
As the Chancellor said in her speech to the House, the forecast shows headroom against the stability rule has increased since the Budget from £21.7bn at the Budget to £23.6bn in 2029-30, which is the target year, meaning greater resilience against shocks and stability in the economy. Headroom against the investment rule is also higher at £27.1bn in 2029-30.
As an independent body, the OBR has full discretion over its forecast methodology and the judgements underpinning its forecasts. As is standard, the March 2026 Economic and Fiscal Outlooks included sensitivity analysis around key economic variables and highlighted upside and downside risks to its central forecast
Asked by: Mike Wood (Conservative - Kingswinford and South Staffordshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the Bank of England still has a sitting Banknote Character Advisory Committee.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Banknote Character Advisory Committee, whose members had a five-year term starting in 2015, advised the Governor of the Bank of England on the choice of field and character for the current £20 and £50 banknotes.
In July 2025 the Bank of England asked the public for their views on what the theme should be for the next series of banknotes. The Bank of England decided the theme for the next series of banknotes based on the feedback from this public consultation and focus groups.
The Bank of England will launch another consultation in summer 2026 to seek the views of the public again on images for the next banknote. Further detail can be found on the Bank of England’s website.
The final decision about what imagery will appear on the next series of banknotes will be made by the Governor.
Asked by: James Naish (Labour - Rushcliffe)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether HM Treasury has held discussions with international partners on the use of sanctions in response to reported serious human rights abuses in Hong Kong prisons.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Foreign, Commonwealth & Development Office is responsible for overall policy and the development of sanctions measures, and the UK’s response to international human rights abuses. This includes sanctions under the UK’s Global Human Rights sanctions regime.
HM Treasury has regular discussions with international partners on a range of multilateral issues.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps HM Treasury is taking to ensure regulatory co-operation with Spain supports UK-based exporters.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
This Government is committed to a deep and enduring partnership with Spain – a partnership which we were pleased to strengthen through agreeing a strategic bilateral framework in September. This Government is also committed to supporting British businesses exporting to Spain and other European markets. During the Chancellor’s recent visit to Madrid, we agreed practical steps with Spain to make it easier for UK services professionals to travel to Spain, which could be worth around £250 million in additional UK services exports over five years.
This Government recognises the strategic imperative for deeper integration between the UK and EU – which shapes much of Spain’s regulatory regime – to strengthen resilience in the economy and stabilise trading conditions for businesses. As the Chancellor set out in her Mais lecture on 17 March, we will pursue an enhanced partnership with the EU to strengthen supply chains and reduce unnecessary frictions for businesses operating in European markets. This will include closer alignment with EU regulation where it is in the UK’s national interest.
The Government is also strengthening engagement with business on EU regulatory issues, and we are exploring how the UK and EU can work together more effectively on shared ambitions to reduce administrative burdens on business, consistent with the UK commitment to cut the administrative burden of regulation by 25% by the end of this Parliament.
Asked by: Mike Wood (Conservative - Kingswinford and South Staffordshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions her Department has had with the Bank of England on the removal of historic figures from UK bank notes.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
As set out in the Memorandum of Understanding between HM Treasury and the Bank of England, the Bank of England is entirely responsible for the design, production, issue and distribution of banknotes. HM Treasury has not discussed images for banknote design with the Bank of England.
Asked by: Euan Stainbank (Labour - Falkirk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what Barnett consequentials will be generated for the Scottish government by (a) grants awarded to local authorities in England to address SEND deficits announced in the written statement entitled Local Government Finance Settlement 2026-27 to 2028-29, published on 9 February 2026, HCWS1315, and (b) additional funding for SEND announced in the Spring Statement.
Answered by James Murray - Chief Secretary to the Treasury
At Spring Forecast 2026 it was confirmed that the Scottish Government will receive £533 million Barnett consequentials in 2026-27, through the application of the Barnett formula to the grants for Local Authorities to address SEND deficits in England.
The Barnett formula applies mechanically to new funding for the Department for Education in 2028-29, to support reforms of the SEND system. This results in an additional £362 million for the Scottish Government in 2028-29.
Asked by: Euan Stainbank (Labour - Falkirk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what Barnett consequentials will be generated for Scotland by (a) the awarding of grants to local authorities in England to address SEND deficits, as set out in UIN HCWS1315 and (a) the funding for SEND announced in the Spring Statement 2026.
Answered by James Murray - Chief Secretary to the Treasury
At Spring Forecast 2026 it was confirmed that the Scottish Government will receive £533 million Barnett consequentials in 2026-27, through the application of the Barnett formula to the grants for Local Authorities to address SEND deficits in England.
The Barnett formula applies mechanically to new funding for the Department for Education in 2028-29, to support reforms of the SEND system. This results in an additional £362 million for the Scottish Government in 2028-29.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what measures are in place to ensure value for money in joint defence financing arrangements with Finland and the Netherlands.
Answered by James Murray - Chief Secretary to the Treasury
Last week the Chancellor announced that the UK is exploring a new defence mechanism for financing driving joint demand by 2027 with the Netherlands and Finland and other EU and NATO partners.
This is still in development with partners and will follow best international practice and relevant HM Government Guidance, including Managing Public Money.
Asked by: Claire Hanna (Social Democratic & Labour Party - Belfast South and Mid Down)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the Northern Ireland Executive has the ability to create an energy support scheme for users of home heating oil with funding from the UK government, announced in the Autumn budget.
Answered by James Murray - Chief Secretary to the Treasury
Spending classed as Annually Managed Expenditure will be provided to Northern Ireland to develop a comparable scheme to that developed in GB.
It is for the Northern Ireland Executive to decide how they would like to deliver a comparable offer. The UK Government is ready to review the business case once it has been submitted by the Northern Ireland Executive.
Asked by: Tanmanjeet Singh Dhesi (Labour - Slough)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the average staffing complement is for a ministerial private office within their Department; what grades those staff are appointed at; what the typical remuneration and contracted working hours are for those posts; and what the staff turnover rate is.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HMT ministerial private offices hire an average 6.5 FTE per office. Staff are appointed at grades: AO, EO, HEO, SEO, G7, G6 and Deputy Director. Contracted working hours for these staff members are 37 hours per week.
Staff salaries for the appointed grades are typically between £26,200 - £117,800. Designated posts may also benefit from Private Office Allowance.
The average staff turnover over the last 3 years was between 20-30%, which can include staff on loans to HMT returning to their home departments, or individuals leaving to other government departments, including on promotion.