Asked by: Tim Roca (Labour - Macclesfield)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the National Wealth Fund (a) conducted due diligence on alternative pipeline route and junction location options and (b) commissioned an independent engineering assessment of alternative junction locations for the meeting point of pipeline Sections 3 and 4 before investing in Peak Cluster Limited.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The National Wealth Fund (NWF) is operationally independent in regard to its investment decisions. The NWF undertakes extensive due diligence in line with commercial investor assessment standards, processes and quantification methodologies, to ensure that taxpayer funds are deployed safely, represent value for money, and support technically and commercially viable projects.
As part of this process, the NWF considers all relevant design, technical and delivery risks associated with proposed projects. Details of individual assessments, including any consideration of specific design or routing options, remain commercially sensitive.
Asked by: Brian Leishman (Labour - Alloa and Grangemouth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when HMRC will publish full staffing projections for Managed Service Provider and HMRC customer services staff.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HMRC is currently in an initial proof‑of‑value phase for its use of MSPs, which is helping to inform longer‑term workforce planning. At this stage, HMRC has no plans to publish full staffing projections for either MSPs or HMRC customer services staff.
Decisions about future staffing levels will be based on what is learned from the proof‑of‑value phase and will be taken through HMRC’s normal business planning and Spending Review processes.
Asked by: Ben Obese-Jecty (Conservative - Huntingdon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to review the operation of the merged R&D tax relief scheme in relation to companies providing pre-clinical research services.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government recognises the important role that life sciences research and development (R&D) plays in driving innovation and economic growth as well as the benefits it can bring for society. The Government committed to maintaining the generosity of the rates in both the merged R&D Expenditure Credit (RDEC) scheme and the Enhanced R&D Intensive Support (ERIS). This, combined with the commitment to cap the headline rate of Corporation Tax, means that companies doing qualifying R&D – including pre-clinical R&D – will continue to receive between £15 to £27 for every £100 spent on R&D.
Under the merged R&D scheme, relief is generally available to the company that decides to undertake R&D and bears the financial risk, rather than the company contracted to carry it out, subject to limited exceptions. This approach is intended to ensure support is targeted at the company that invests in the R&D. These rules apply to pre-clinical research services in the same way as they do for all other companies.
Asked by: Ben Obese-Jecty (Conservative - Huntingdon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what is the methodology and the formula used in the current rateable value calculation.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Valuation Office calculates a rateable value for each business property in England and Wales. A rateable value is an estimate of what it would cost to rent a property for a year, on a set date known as the Valuation Date.
The methodology and approach used to assess rateable values varies depending on the type of property. The Valuation Office publishes a Rating Manual describing how each property class is valued. The manual for the 2023 rating list can be found here, and will be updated for the 2026 list in due course.
Asked by: Luke Evans (Conservative - Hinckley and Bosworth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has had discussions with the (a) British Independent Retailers Association and (b) Independent Menswear Trade Organisation on the potential impact of changes to business rate bills on small independent retailers.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government’s Call for Evidence on business rates and investment has sought views from industry representatives, to establish more detailed evidence on how the business rates system influences investment decisions, with questions on the business rates system’s tax structure, Small Business Rates Relief, Improvement Relief and Empty Property Relief.
The Government is carefully considering the representations received – including those from BIRA and other retailers - and a summary of responses will be published in due course. HM Treasury also continues to have regular discussions with sector representatives to understand the impact of business rates on the sector’s financial sustainability.
Asked by: Edward Morello (Liberal Democrat - West Dorset)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of Valuation Office Agency delays on people in West Dorset constituency.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
I refer the Member to the answer given to Question UIN 126456 on 20 April 2026.
Asked by: Chi Onwurah (Labour - Newcastle upon Tyne Central and West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that national economic policy does not disproportionately impact the Oxford‑Cambridge growth corridor over regions with industrial, technology and energy capacity such as the North East.
Answered by James Murray - Chief Secretary to the Treasury
The Government’s economic strategy aims to spread growth across Britain, supporting all regions by investing in transport, housing, skills, and key industrial sectors. The Chancellor has repeatedly emphasised that regional growth, including in the North and North East, is central to her plans, highlighted by ongoing work on the Northern Growth Strategy. These measures are part of a place-based approach to boost the UK’s productive capacity and living standards, ensuring national policy promotes growth in every region rather than focusing on a single area.
Asked by: Sam Carling (Labour - North West Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to changes to the inheritance tax treatment of pension pots whether it is her policy that a) the total estate will be taken to include the unused pension pot, and b) donations to charity made from the unused pension pot will be considered as contributing to the 10% minimum.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
At Autumn Budget 2024, the Government announced that unused pension funds and death benefits payable from a pension will form part of a person’s estate for inheritance tax purposes from 6 April 2027.
Where at least 10% of a person’s net estate is left to a qualifying charity, their estate is taxed at a reduced rate of inheritance tax of 36% instead of 40%. When considering this, the pension will fall within the general component of the estate. This component includes the deceased’s free estate and from 6 April 2027 will also include any unused pension funds and death benefits (called notional pension property). Any notional pension property that is paid to a qualifying charity will count toward the charitable giving conditions for the general component Further guidance can be found here: https://www.gov.uk/hmrc-internal-manuals/inheritance-tax- manual/ihtm45003. Guidance will be updated before the changes are implemented in April 2027.
Charity Lump Sum Death Benefits can be paid free of Income Tax. These lump sums are deliberately limited to money purchase arrangements where the deceased member had no dependants. These rules are not changing as this ensures that pension funds are used to support dependants where they exist, while allowing schemes to pay out benefits where there is no other beneficiary.
Asked by: Sam Carling (Labour - North West Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of amending the definition of a charitable lump sum death benefit so that people with dependents do not face barriers to donating to charity from their pension.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
At Autumn Budget 2024, the Government announced that unused pension funds and death benefits payable from a pension will form part of a person’s estate for inheritance tax purposes from 6 April 2027.
Where at least 10% of a person’s net estate is left to a qualifying charity, their estate is taxed at a reduced rate of inheritance tax of 36% instead of 40%. When considering this, the pension will fall within the general component of the estate. This component includes the deceased’s free estate and from 6 April 2027 will also include any unused pension funds and death benefits (called notional pension property). Any notional pension property that is paid to a qualifying charity will count toward the charitable giving conditions for the general component Further guidance can be found here: https://www.gov.uk/hmrc-internal-manuals/inheritance-tax- manual/ihtm45003. Guidance will be updated before the changes are implemented in April 2027.
Charity Lump Sum Death Benefits can be paid free of Income Tax. These lump sums are deliberately limited to money purchase arrangements where the deceased member had no dependants. These rules are not changing as this ensures that pension funds are used to support dependants where they exist, while allowing schemes to pay out benefits where there is no other beneficiary.
Asked by: James Cartlidge (Conservative - South Suffolk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to support farmers who have been affected by the increase in the price of red Diesel in South Suffolk.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Farmers retained the entitlement to use red diesel for agricultural machinery after it was withdrawn from most sectors in 2022. In contrast to full duty diesel, taxed at 52.95p per litre, red diesel currently incurs a duty of 10.18p per litre.
At Budget 2025, the Government extended the temporary 5p fuel duty cut alongside extending the proportionate percentage cut for rebated fuels, which includes red diesel. This maintains the red diesel rate at the levels set in March 2022 at 10.18p per litre until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027, an increase of less than 1p a litre. The planned inflation increase for 2026-27 has also been cancelled.