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
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
Darren Jones (Lab - Bristol North West)
Chief Secretary to the Treasury
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
Baroness Gustafsson (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
James Murray (LAB - Ealing North)
Exchequer Secretary (HM Treasury)
Emma Reynolds (Lab - Wycombe)
Economic Secretary (HM Treasury)
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
There are no upcoming events identified
Debates
Friday 11th July 2025
Select Committee Docs
Monday 14th July 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 14th July 2025
Retail Trade: Business Rates
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the Non-Domestic Rating …
Secondary Legislation
Thursday 10th July 2025
Child Benefit (Miscellaneous Amendments) Regulations 2025
These Regulations amend regulations 1 and 3 of the Child Benefit (General) Regulations 2006 (“the CB(G)Rs”).
Bills
Wednesday 25th June 2025
Supply and Appropriation (Main Estimates) (No. 2) Bill 2024-26
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the …
Dept. Publications
Friday 11th July 2025
14:43

Guidance

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
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: 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

These Regulations amend regulations 1 and 3 of the Child Benefit (General) Regulations 2006 (“the CB(G)Rs”).
These Regulations are made in connection with the revocation by section 1(1) of, and Part 3 of Schedule 1 to, the Financial Services and Markets Act 2023 (c. 29) of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive (“the Commission Delegated Regulation”).
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).

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Petitions with most signatures
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7,948 Signatures
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7,163 Signatures
(16 in the last 7 days)
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5,738 Signatures
(142 in the last 7 days)
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5,230 Signatures
(51 in the last 7 days)
Petition Open
4,282 Signatures
(5 in the last 7 days)
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.

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
Office for Budget Responsibility Fiscal Risks and Sustainability Report
15 Jul 2025, 9:45 a.m.
At 10:15am: Oral evidence
Richard Hughes - Chair at Office for Budget Responsibility
Professor David Miles CBE - Member at Budget Responsibility Committee
Tom Josephs - Member at Budget Responsibility Committee
At 11:30am: Oral evidence
Richard Hughes - Chair at Office for Budget Responsibility

View calendar - Save to Calendar
Treasury Committee - Private Meeting
16 Jul 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

7th Jul 2025
To ask the Chancellor of the Exchequer, how much and what proportion of parental leave payments were paid to employers claiming Small Employers Relief in each of the last five years.

Data for the financial year 2024/25 has not yet been fully analysed as the financial year has only recently ended. Data for financial years 2020/21 until 2023/24 is provided below.

The table below shows the number of PAYE schemes who claimed compensation for any of the four Statutory Parental Payments, qualifying them for Small Employers’ Relief.

Date

Statutory Maternity Pay Scheme Count

Statutory Paternity Pay Scheme Count

Shared Parental Pay Scheme Count

Statutory Adoption Pay Scheme Count

Total

20/21

62,800

10,200

500

300

73,800

21/22

63,000

14,600

600

300

78,500

22/23

61,000

15,700

600

400

77,700

23/24

58,600

15,000

600

400

74,600

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) PAYE scheme counts have been rounded to nearest 100.

3) The table shows the count of PAYE schemes who claimed Small Employers’ Relief, with schemes used as a proxy for business count.

The table below shows how much compensation was paid to PAYE schemes claiming Small Employers’ Relief but not the entire value of parental payment claims.

Date

Statutory
Maternity
Pay
Compensation
(£000’s)

Statutory
Paternity
Pay
Compensation
(£000’s)

Shared
Parental
Pay
Compensation
(£000’s)

Statutory
Adoption
Pay
Compensation
(£000’s)

Total (£000’s)

20/21

10,500

200

100

100

10,900

21/22

12,400

300

200

100

13,000

22/23

13,400

1,400

200

400

15,400

23/24

17,400

400

200

200

18,200

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) Claims values have been rounded to nearest £100,000.

The table below shows the proportion of claims for Small Employers’ Relief compensation against total parental pay reclaims.

Date

Total Compensation Count

Total Recovery Count

Proportion

19/20

77,000

202,000

38%

20/21

74,000

185,000

40%

21/22

79,000

196,000

40%

22/23

78,000

196,000

40%

23/24

75,000

196,000

38%

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) Total number of claims rounded to nearest 1000.

3) The proportion calculation assumes all schemes claiming compensation are also counted within number of claims for recoveries.

Further breakdowns of information by income decile or of employees by region are not currently available from published statistics, and collating and verifying the relevant data solely for the purpose of answering this question would incur disproportionate cost.

Some related information may be found in this call for evidence: Parental leave and pay review: call for evidence - GOV.UK, including the number of claimants by income decile and region up to 2023/24.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, how many businesses (a) claim Small Employers Relief and (b) have more than 100 employees in each (i) region and (ii) nation.

Data for the financial year 2024/25 has not yet been fully analysed as the financial year has only recently ended. Data for financial years 2020/21 until 2023/24 is provided below.

The table below shows the number of PAYE schemes who claimed compensation for any of the four Statutory Parental Payments, qualifying them for Small Employers’ Relief.

Date

Statutory Maternity Pay Scheme Count

Statutory Paternity Pay Scheme Count

Shared Parental Pay Scheme Count

Statutory Adoption Pay Scheme Count

Total

20/21

62,800

10,200

500

300

73,800

21/22

63,000

14,600

600

300

78,500

22/23

61,000

15,700

600

400

77,700

23/24

58,600

15,000

600

400

74,600

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) PAYE scheme counts have been rounded to nearest 100.

3) The table shows the count of PAYE schemes who claimed Small Employers’ Relief, with schemes used as a proxy for business count.

The table below shows how much compensation was paid to PAYE schemes claiming Small Employers’ Relief but not the entire value of parental payment claims.

Date

Statutory
Maternity
Pay
Compensation
(£000’s)

Statutory
Paternity
Pay
Compensation
(£000’s)

Shared
Parental
Pay
Compensation
(£000’s)

Statutory
Adoption
Pay
Compensation
(£000’s)

Total (£000’s)

20/21

10,500

200

100

100

10,900

21/22

12,400

300

200

100

13,000

22/23

13,400

1,400

200

400

15,400

23/24

17,400

400

200

200

18,200

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) Claims values have been rounded to nearest £100,000.

The table below shows the proportion of claims for Small Employers’ Relief compensation against total parental pay reclaims.

Date

Total Compensation Count

Total Recovery Count

Proportion

19/20

77,000

202,000

38%

20/21

74,000

185,000

40%

21/22

79,000

196,000

40%

22/23

78,000

196,000

40%

23/24

75,000

196,000

38%

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) Total number of claims rounded to nearest 1000.

3) The proportion calculation assumes all schemes claiming compensation are also counted within number of claims for recoveries.

Further breakdowns of information by income decile or of employees by region are not currently available from published statistics, and collating and verifying the relevant data solely for the purpose of answering this question would incur disproportionate cost.

Some related information may be found in this call for evidence: Parental leave and pay review: call for evidence - GOV.UK, including the number of claimants by income decile and region up to 2023/24.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, how much was paid in parental leave by recipient's income decile for each of the last five years.

Data for the financial year 2024/25 has not yet been fully analysed as the financial year has only recently ended. Data for financial years 2020/21 until 2023/24 is provided below.

The table below shows the number of PAYE schemes who claimed compensation for any of the four Statutory Parental Payments, qualifying them for Small Employers’ Relief.

Date

Statutory Maternity Pay Scheme Count

Statutory Paternity Pay Scheme Count

Shared Parental Pay Scheme Count

Statutory Adoption Pay Scheme Count

Total

20/21

62,800

10,200

500

300

73,800

21/22

63,000

14,600

600

300

78,500

22/23

61,000

15,700

600

400

77,700

23/24

58,600

15,000

600

400

74,600

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) PAYE scheme counts have been rounded to nearest 100.

3) The table shows the count of PAYE schemes who claimed Small Employers’ Relief, with schemes used as a proxy for business count.

The table below shows how much compensation was paid to PAYE schemes claiming Small Employers’ Relief but not the entire value of parental payment claims.

Date

Statutory
Maternity
Pay
Compensation
(£000’s)

Statutory
Paternity
Pay
Compensation
(£000’s)

Shared
Parental
Pay
Compensation
(£000’s)

Statutory
Adoption
Pay
Compensation
(£000’s)

Total (£000’s)

20/21

10,500

200

100

100

10,900

21/22

12,400

300

200

100

13,000

22/23

13,400

1,400

200

400

15,400

23/24

17,400

400

200

200

18,200

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) Claims values have been rounded to nearest £100,000.

The table below shows the proportion of claims for Small Employers’ Relief compensation against total parental pay reclaims.

Date

Total Compensation Count

Total Recovery Count

Proportion

19/20

77,000

202,000

38%

20/21

74,000

185,000

40%

21/22

79,000

196,000

40%

22/23

78,000

196,000

40%

23/24

75,000

196,000

38%

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) Total number of claims rounded to nearest 1000.

3) The proportion calculation assumes all schemes claiming compensation are also counted within number of claims for recoveries.

Further breakdowns of information by income decile or of employees by region are not currently available from published statistics, and collating and verifying the relevant data solely for the purpose of answering this question would incur disproportionate cost.

Some related information may be found in this call for evidence: Parental leave and pay review: call for evidence - GOV.UK, including the number of claimants by income decile and region up to 2023/24.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, how many employers claimed parental leave pay through Small Employers Relief in each of the last five years.

Data for the financial year 2024/25 has not yet been fully analysed as the financial year has only recently ended. Data for financial years 2020/21 until 2023/24 is provided below.

The table below shows the number of PAYE schemes who claimed compensation for any of the four Statutory Parental Payments, qualifying them for Small Employers’ Relief.

Date

Statutory Maternity Pay Scheme Count

Statutory Paternity Pay Scheme Count

Shared Parental Pay Scheme Count

Statutory Adoption Pay Scheme Count

Total

20/21

62,800

10,200

500

300

73,800

21/22

63,000

14,600

600

300

78,500

22/23

61,000

15,700

600

400

77,700

23/24

58,600

15,000

600

400

74,600

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) PAYE scheme counts have been rounded to nearest 100.

3) The table shows the count of PAYE schemes who claimed Small Employers’ Relief, with schemes used as a proxy for business count.

The table below shows how much compensation was paid to PAYE schemes claiming Small Employers’ Relief but not the entire value of parental payment claims.

Date

Statutory
Maternity
Pay
Compensation
(£000’s)

Statutory
Paternity
Pay
Compensation
(£000’s)

Shared
Parental
Pay
Compensation
(£000’s)

Statutory
Adoption
Pay
Compensation
(£000’s)

Total (£000’s)

20/21

10,500

200

100

100

10,900

21/22

12,400

300

200

100

13,000

22/23

13,400

1,400

200

400

15,400

23/24

17,400

400

200

200

18,200

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) Claims values have been rounded to nearest £100,000.

The table below shows the proportion of claims for Small Employers’ Relief compensation against total parental pay reclaims.

Date

Total Compensation Count

Total Recovery Count

Proportion

19/20

77,000

202,000

38%

20/21

74,000

185,000

40%

21/22

79,000

196,000

40%

22/23

78,000

196,000

40%

23/24

75,000

196,000

38%

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2024. RTI is subject to revision or updates.

2) Total number of claims rounded to nearest 1000.

3) The proportion calculation assumes all schemes claiming compensation are also counted within number of claims for recoveries.

Further breakdowns of information by income decile or of employees by region are not currently available from published statistics, and collating and verifying the relevant data solely for the purpose of answering this question would incur disproportionate cost.

Some related information may be found in this call for evidence: Parental leave and pay review: call for evidence - GOV.UK, including the number of claimants by income decile and region up to 2023/24.

James Murray
Exchequer Secretary (HM Treasury)
9th Jul 2025
To ask the Chancellor of the Exchequer, when she plans to publish Ministerial transparency data on hospitality in the fourth quarter of 2024.

Transparency data on hospitality received by HM Treasury Ministers can be found on gov.uk here: https://www.gov.uk/government/collections/register-of-ministers-gifts-and-hospitality

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the merits of implementing a clawback mechanism as an alternative to the proposed changes to Agricultural Property Relief and Business Property Relief.

I refer the Honourable Member to the answer given to UIN 32918.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential merits of introducing a clawback scheme in relation to inheritance tax reliefs previously applied to (a) agricultural and (b) business assets, in the context of her Department's planned changes to inheritance tax policy.

I refer the Honourable Member to the answer given to UIN 32918.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, whether her Department has collected data on the share of e-bike sales comprising models imported from China.

HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK which includes data on imports of e-bikes. HMRC releases this information monthly, as a National Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).

From this website, it is possible to build your own data tables based upon bespoke search criteria. HMRC does not hold information on what percentage of sales in the UK are made up of e-bikes that were imported from China.

Classification codes (according to the Harmonised System) are available to assist you in accessing published trade statistics data in the UK Global Tariff. Goods moving to and from the UK are identified by commodity codes. These are publicly available from the UK Trade Tariff at https://www.gov.uk/trade-tariff. E-bikes are most likely classified within commodity codes 87116010 and 87116090.

If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the Non-Domestic Rating (Multipliers and Private Schools) Act on small high-street businesses.

The Non-Domestic Rating (Private Schools and Multipliers) Act gained Royal Assent on 3 April, giving the Government powers to introduce the new multipliers announced at Autumn Budget 2024, and removing charitable rate relief for private schools.

The new multipliers include permanently lower tax rates for Retail, Hospitality and Leisure (RHL) properties with Rateable Values below £500,000 from 2026-27.

This tax cut must be sustainably funded, and so we intend to introduce a higher rate on the most valuable properties on 2026/27 – those with Rateable Values (RVs) of £500,000 and above. These represent less than one per cent of all properties, but cover the majority of large distribution warehouses, including those used by online giants.

The rates for these new business rate multipliers will be set at Budget 2025 so that the Government can take into account the upcoming revaluation outcomes as well as the economic and fiscal context. When the new multipliers are set, HM Treasury intends to publish analysis of the expected effects of the new multiplier arrangements.

James Murray
Exchequer Secretary (HM Treasury)
9th Jul 2025
To ask the Chancellor of the Exchequer, how many people were issued with a late filing penalty for non return of a self assessment form in each constituency in each of the last five years; and how many and what proportion of those people did not owe any tax.

The information requested can only be provided at a disproportionate cost.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what her Department's planned timetable is for publishing its response to the consultation entitled VAT Treatment of Private Hire Vehicles, which closed on 8 August 2024.

Private hire vehicle services provided by VAT-registered businesses are, and always have been, subject to VAT. The Government continues to take the issue of VAT treatment of private hire vehicle services seriously and recognises the importance of clarity to the sector. It is right, however, that decisions on tax policy are taken at fiscal events in the context of overall public finances. The Government will therefore publish a response to the consultation soon.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of applying VAT to private hire journeys outside London on the private hire industry.

Private hire vehicle services provided by VAT-registered businesses are, and always have been, subject to VAT. The Government continues to take the issue of VAT treatment of private hire vehicle services seriously and recognises the importance of clarity to the sector. It is right, however, that decisions on tax policy are taken at fiscal events in the context of overall public finances. The Government will therefore publish a response to the consultation soon.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, what information her Department holds on who the members are of the Royal Mint (a) sub-committee on the selection of themes and (b) advisory committee.

The Royal Mint Advisory Committee (RMAC) is an advisory non-departmental public body that advises the Chancellor of the Exchequer (in her capacity as Master of the Royal Mint) and HM The King on matters of design with respect to circulating and commemorative coins. RMAC exists to promote numismatic (i.e. the study of coins) and – more broadly - medallic art in the UK, ensuring designs meet high standards of decency and good taste. Non-executive members of the Committee are unremunerated Crown appointments.

RMAC typically comprises four Royal Mint executive members, seven non-executive members including the current Chair, Baroness Stuart of Edgbaston, a representative from HM Treasury and experts in art, design, heraldry, typography, sculpture, history and numismatics. Currently the RMAC comprises of three non-executive members and nine executive members; more information can be found on the Royal Mint Museum's website: Royal Mint Advisory Committee.

RMAC’s Sub-Commitee on the Selection of Themes, chaired by Baroness Stuart, brings together at least two non-executive members of RMAC alongside a representative from HM Treasury and The Royal Mint to examine proposed themes for future commemorative and circulating coins, making recommendations to the Chancellor of the Exchequer.

HM Treasury is currently running a public appointments campaign to appoint four non-executive members to RMAC: a generalist, artist, art historian and lettering expert. Confirmation of these appointments will be made in the autumn.

Emma Reynolds
Economic Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that motorists are aware of their rights in relation to mis-sold car finance agreements involving discretionary commission arrangements.

The government notes that this matter is currently being considered by the Supreme Court and a judgment is expected to be handed down in due course.

The Financial Conduct Authority has confirmed that subject to the Supreme Court outcome, if consumers are found to have lost out from widespread failings by motor finance firms they are likely to set up a consumer redress scheme. On June 5, they published a statement setting out the key considerations that will influence the design of any redress scheme.

The Financial Conduct Authority will set out their next steps within 6 weeks of the judgment.

Emma Reynolds
Economic Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, if she will commission a review of UK (a) pension fund and (b) insurance fund exposure to Chinese corporations sanctioned by allied jurisdictions.

There are currently no plans to commission a review of UK pension fund and insurance fund exposure to Chinese corporations sanctioned by allied jurisdictions.

The Government does routinely assess the impacts of its sanctions.

Emma Reynolds
Economic Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of fiscal policy on levels of food inflation in Fylde constituency since 4 July 2025.

HM Treasury does not produce forecasts of the UK economy. Forecasting the economy, including the impact of Government policy decisions, is the responsibility of independent Office for Budget Responsibility (OBR), which published its latest forecast on 26 March 2025. The OBR does not publish estimates of the impact of policy decisions on levels of food inflation, nor on inflation at a constituency level. The Office for National Statistics publishes food inflation data based on observed price movements at a national level, which is not disaggregated to constituency level.

Emma Reynolds
Economic Secretary (HM Treasury)
8th Jul 2025
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of trends in the level of the cost of travel insurance abroad for people diagnosed with cancer.

Insurers make commercial decisions about the terms on which they will offer cover following an assessment of the relevant risks. For example, the existence of pre-existing medical conditions may represent an increased risk.

However, the Government is determined that insurers should treat customers fairly and firms are required to do so under Financial Conduct Authority (FCA) rules. The FCA requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive). The FCA is clear that it monitors firms to ensure they provide products that are fair value, and, where necessary, it will take action.

It is worth noting that different insurers may take a different view of the relevant factors in determining the price of insurance based on their differing claims experience. Since some specialist travel insurers may be more equipped to provide cover for consumers with pre-existing medical conditions, the government would encourage consumers to shop around for the most suitable cover at the best price.

To support consumers in accessing travel insurance, the FCA also requires travel insurers to signpost consumers to a directory of specialist providers if they are declined cover, offered cover with an exclusion, or charged a significantly higher premium based on their pre-existing medical conditions.

Emma Reynolds
Economic Secretary (HM Treasury)
8th Jul 2025
To ask the Chancellor of the Exchequer, what steps her Department is taking to help ensure that crypto asset businesses have access to banking systems.

The Government is aware that cryptoasset firms are facing challenges associated with access to banking services, and it is engaged with the sector on these matters.

Whilst the Government recognises that access to banking decisions are largely commercial in nature, we expect business to be treated fairly. That is why the Government has already taken action in this space, including bringing forward legislation to enhance relevant protections in cases where a business has their bank account terminated by their provider.

The Government is also currently finalising legislation to create a financial services regulatory regime for cryptoassets in the UK. Under this regime, firms will need to be licensed by the FCA to provide relevant cryptoasset services in or to the UK, and the Government would not expect such licensed firms to be subject to restrictions by banking services providers simply because of the sector they belong to.

Emma Reynolds
Economic Secretary (HM Treasury)
8th Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 5 June 2025 to Question 54290 on Chinese Embassy, whether the Bank of England has any role in relation to the cyber-security of financial institutions in and near the City of London.

The National Cyber Security Centre (NCSC) is the UK's technical authority for cyber security, including helping to protect the UK's critical infrastructure and services from cyber-attacks. The Bank of England, through the Prudential Regulation Authority and working closely with the NCSC, requires PRA-regulated financial institutions to have rigorous cyber-security frameworks in place and requires regular assessment of financial institutions’ cyber security measures.

Emma Reynolds
Economic Secretary (HM Treasury)
8th Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her Department's policies of the report by ActionAid UK entitled Who Pays the Price?, published in April 2025.

The government is restoring the global leadership needed to tackle the climate and nature crisis, and aiming to make Britain a clean energy superpower with zero carbon electricity by 2030.

At COP 29, the Prime Minister announced the UK’s ambitious and credible Nationally Determined Contribution target to reduce all greenhouse gas emissions by at least 81% by 2035 compared to 1990 levels, excluding international aviation and shipping emissions. We must unlock a much greater scale of climate and nature finance to support developing countries’ energy transitions and those most vulnerable to climate change and nature degradation.

While the UK government does not set out what private companies, including banks, should invest in, we are supportive of the standards published by the International Sustainability Standards Board (ISSB) in June 2023 and are consulting on the UK version of these standards, UK Sustainability Reporting Standards. These aim to support long-term, sustainable decision-making by the business and investment community by providing high-quality information about the sustainability-related risks and opportunities that businesses face.

Emma Reynolds
Economic Secretary (HM Treasury)
8th Jul 2025
To ask the Chancellor of the Exchequer, what steps are being taken to support small businesses changing finance providers.

The Government is committed to ensuring the UK has a highly competitive and diverse banking sector, working in the interests of all consumers and businesses across the country. It is important that businesses shop around for their banking needs as this drives competition, improves choice and helps keep prices fair. There are a number of policies that help facilitate this:

Small businesses with fewer than 50 employees and an annual turnover of less than £6.5m are already able to use the current account switch service – designed to make it easier to shop around for their business current account.

The Commercial Credit Data Sharing scheme requires the UK’s largest banks to share credit information on small and medium sized enterprises (SMEs) with other lenders through designated Credit Reference Agencies. This has helped lower the barriers to entry for new finance providers and improved credit scoring in the SME finance market, giving small businesses more choice when applying for finance. The Government will consult on enhancing the scheme later this year to ensure it continues to keep pace with market changes.

The Government has also committed to consult on improving the Bank Referral Scheme. The scheme requires designated banks to refer SME business customers that they reject for finance, to platforms that can match the SME with alternative finance providers.

The British Business Bank’s Finance Hub also provides independent and impartial information on different finance options for scale-up, high growth, and potential high growth businesses, as well as resources that support SMEs to innovate and become more sustainable

Finally, in December 2024 the Secretary of State for Business and Trade also announced a new Business Growth Service (BGS) which will make it easier and quicker for businesses across the UK to get the help, support and advice they need to grow and thrive.

Emma Reynolds
Economic Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, whether her Department is (a) (i) represented on and (ii) consulted by and (b) able to veto the decisions of the Bank of England's Banknote Character Advisory Committee.

The roles and responsibilities for the production and issuance of banknotes are detailed in the Currency and Bank Notes Act 1954 and the 2025 Memorandum of Understanding on the financial relationship between HM Treasury and the Bank of England.

The Bank of England is responsible for all aspects of the design, production, and issuance of banknotes, including the selection of characters, design features, and security measures. The Bank of England is required to seek HM Treasury approval only for the introduction of new denominations, as set out in section 1(1) of the Currency and Bank Notes Act 1954 and Section 9C of the Memorandum of Understanding. The Bank of England may keep HM Treasury informed of developments on a non-statutory, informal basis, but there is no requirement for consultation with HM Treasury on matters of design or character selection.

As a consequence, HM Treasury is not represented on the Bank of England’s Banknote Character Advisory Committee.

The 2025 Memorandum of Understanding can be found here:

Financial relationship between HM Treasury and the Bank of England Memorandum of Understanding

Emma Reynolds
Economic Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, with reference to Table 5.8 of the Spending Review 2025, published on 11 June 2025, how much of the spending line Memo: Police Core Spending is made up of (a) government grant and (b) council tax receipts in each year.

As set out in the Spending Review 2025 document, published 11 June 2025, the Phase 2 settlement provides an average 1.7% real terms increase per year in police spending power. Over the SR period, police spending power is projected to increase by an average 2.3% per year in real terms.

Police core spending power includes projected spending from a mix of central government funding and local taxation through the police council tax precept. This 2.3% projection is therefore premised on the police being funded through increases to both. However, this remains subject to final decisions on precept levels and individual police and crime commissioner decisions. The government will set out spending plans for police forces in England and Wales, including the final precept level and core government funding, at the annual police funding settlement in the usual way.

Darren Jones
Chief Secretary to the Treasury
9th Jul 2025
To ask the Chancellor of the Exchequer, what estimate she has made of the cost to the public purse of (a) welfare payments and (b) other services paid to people with indefinite leave to remain in each financial year since 2019-20 onwards.

The information requested is not readily available and to provide it would incur disproportionate cost.

Darren Jones
Chief Secretary to the Treasury
9th Jul 2025
To ask the Chancellor of the Exchequer, what estimate her Department has made of the total amount of Barnett consequential funding which will be made available to Wales following the City Region Local Transport funding announced on 4 June 2025.

The 2025 Spending Review set the Department for Transport’s budget for 2026-27 to 2028-29. In line with the Statement of Funding Policy, the Barnett formula is applied to changes in overall department settlements, not to individual programmes. As a result, it is not possible to identify specific Barnett consequentials arising from individual programmes, such as the Transport for City Regions funding announced on 4 June 2025. This is the normal operation of the Barnett formula at Spending Reviews.

The Welsh Government’s settlement at the 2025 Spending Review is the largest in real terms since devolution in 1998. It ensures that the Welsh Government continues to receive more than 20% more funding per person than equivalent UK Government spending in England, which is above their 15% higher relative need agreed in the Welsh Government Fiscal Framework.

Darren Jones
Chief Secretary to the Treasury
9th Jul 2025
To ask the Chancellor of the Exchequer, with reference to the Government press release entitled Government and business put forward "Team UK" approach to unleash defence sector's potential, published on 7 July 2025, how much in cash terms of the stated increase of defence spending to 2.6% is accounted for by (a) reductions in Official Development Assistance spend and (b) the addition of the single intelligence account to the defence budget.

The Chancellor’s Spring Statement 2025, table 2.1, outlines the changes to defence and Official Development Assistance (ODA) spending that will see NATO qualifying core defence spending increase to 2.5% GDP by 2027.

CP1298 – Spring Statement 2025

The Single Intelligence Account (SIA) budget is not being added to the Ministry of Defence (MOD) budget, but, in line with our allies, will be considered fully NATO qualifying defence spending by 2027. The inclusion of SIA will increase defence spending by around 0.1% in 2027, meaning that NATO qualifying defence expenditure will reach 2.6% GDP in 2027. Full details of the SIA budget over the Spending Review period can be found here:

Spending Review 2025 (HTML) - GOV.UK

Darren Jones
Chief Secretary to the Treasury
9th Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 4 July to Question 62701 on Defence: Finance, when the Single Intelligence Budget was last included in the core defence budget.

The Single Intelligence Account is not included in the Ministry of Defence’s budget.

Historically, the SIA’s budget has included elements of NATO-qualifying defence expenditure. In order to recognise the important contribution the intelligence agencies play in national defence, by 2027, we will consider the whole of the SIA to be NATO-qualifying, in line with our allies. It will be included towards the 2.6% target for core defence spending.

Darren Jones
Chief Secretary to the Treasury
30th Jun 2025
To ask His Majesty's Government what percentage of imports of goods and services into the UK from the Occupied Palestinian Territories originate from, or are linked to, activities related to settlements in (1) 2021, (2) 2022, (3) 2023, (4) 2024, and (5) 2025.

The UK Government has a clear position that Israeli settlements in the Occupied Palestinian Territories are illegal under international law. Goods produced in these settlements are not entitled to benefit from preferential tariff treatment under the UK’s current trade agreements with the Palestinian Authority and Government of Israel.

Where there are doubts about the origin of goods that have been declared as being of Israeli origin, HMRC will undertake checks to verify the origin of those goods to ensure fiscal compliance. HMRC does not however provide specific details regarding checks as it may serve to undermine compliance activity.

Lord Livermore
Financial Secretary (HM Treasury)
30th Jun 2025
To ask His Majesty's Government what was the total level of exports of goods and services produced or sourced in the UK for activities related to the construction and growth of Israeli settlements in the Occupied Palestinian Territories in (1) 2021, (2) 2022, (3) 2023, (4) 2024, and (5) 2025.

Whilst HMRC holds information on the country of last known destination for exported goods, it does not hold information on how the goods will be used after delivery.

Lord Livermore
Financial Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of HMRC’s capacity to monitor the importation of goods from (a) countries and (b) territories subject to (i) arms embargoes, (ii) trade sanctions and (iii) other trade restrictions.

HMRC operates a risk-based model for customs compliance which is designed to support the flow of compliant international trade, while maintaining effective controls to collect revenue, protect the UK economy and wider society from harm and uphold the UK’s reputation as a trusted trading partner.

Imported and exported goods must be declared to HMRC and are subject to risk-based controls and verification. There are additional controls and restrictions on goods imported from and exported to certain countries, including those subject to arms embargoes and sanctions.

The controls and verification are tailored to the underlying risks but may include physical examinations of goods at the time of import or export and/or documentary checks.

HMRC collects the UK’s international trade in goods data and publishes this as two accredited official statistics series on gov.uk.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of changes to Business Property Relief on family-owned businesses in (a) the North East and (b) the UK.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact.

The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website.

Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27.

The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, what analysis her Department has conducted on the projected fiscal impact of the proposed cap on Business Property Relief; and if she will publish the modelling assumptions used to calculate the anticipated revenue gain.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact.

The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website.

Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27.

The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential implications for her policies of the report by Family Business UK and CBI Economics entitled Taxing Futures, published in June 2025.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact.

The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website.

Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27.

The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of changes to (a) Business Property Relief and (b) Agricultural Property Relief on business (i) closures and (ii) divestment.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact.

The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website.

Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27.

The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, whether she has considered introducing (a) sector-specific and (b) asset-based valuation methodologies for Business Property Relief claims by asset-intensive SMEs.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact.

The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website.

Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27.

The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, what steps she is taking to support family-owned SMEs with additional tax liabilities under reforms to Business Property Relief.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact.

The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website.

Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27.

The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, whether she has had discussions with representatives of Family Business UK on the findings of their June 2025 report on inheritance tax reform.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact.

The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website.

Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27.

The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, what steps her Department is taking to mitigate the regional economic impact of the inheritance tax changes on family businesses in the North East.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The analysis undertaken by CBI Economics was commissioned by Family Business UK and is based on a self-selecting online survey from members of representative groups campaigning against the reforms. The independent Office for Budget Responsibility (OBR) certified the costing at Autumn Budget 2024 as ‘reasonable and central’. The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The OBR does not expect the reforms to have a significant macroeconomic impact.

The OBR published information about the costing in the Economic and Fiscal Outlook on 30 October 2024. The OBR published more detail on the costings on 22 January 2025. This material is all available on the OBR’s website.

Information from claims is not recorded in a manner to enable regional or national breakdowns of the number of estates expected to be affected. However, the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The Government has also set out that around 1,500 estates across the UK only claiming business property relief are expected to pay more inheritance tax in 2026-27, with around 1,000 of these expected to only hold shares designated as “not listed” on the markets of recognised stock exchanges, such as the Alternative Investment Market. Around three-quarters of estates claiming business property relief in 2026-27 (excluding those estates only holding shares designated as “not listed”) will not pay any more inheritance tax in 2026-27.

The rules relating to valuation at death are long-standing and well-established in legislation, including for business property, and guidance is available. More information is available at www.gov.uk/hmrc-internal-manuals/inheritance-tax-manual/ihtm09701 and in the section on valuation in the guide to completing inheritance tax accounts at www.gov.uk/government/publications/inheritance-tax-inheritance-tax-account-iht400.

James Murray
Exchequer Secretary (HM Treasury)
3rd Jul 2025
To ask the Chancellor of the Exchequer, what assessment has she made of the potential impact of food price and energy inflation on (a) low-income households, (b) pensioners and (c) disabled people.

We know increased costs in essential areas are worrying and cause hardship for many families with children. That is why the Government is taking a comprehensive approach—supporting those in immediate need while addressing the structural changes necessary to fix the country's foundations.

Food, energy and credit costs are a function of a variety of factors including international agricultural commodity prices, the exchange rate, wholesale energy prices, and interest rates. The best way to help with the cost of living is by reducing overall inflation. The Bank of England has the responsibility of controlling inflation, and the Government fully supports them as they take action to sustainably return inflation to 2%. The independent Monetary Policy Committee (MPC) has cut Bank Rate four times since August. The effective interest rate – the actual interest paid by a borrower - on new a 2-year fixed rate mortgage has fallen 46 basis points since the election (May 2025 vs June 2024).

The government is committed to helping those in need due to the rising cost of living. An uplift to the Universal Credit Standard Allowance will see it rise to 5% above inflation by 2029-30. The government is also investing £1 billion a year (including Barnett impact) in a multi-year settlement for crisis support, which includes funding for councils to support some of the poorest households so that their children do not go hungry outside of term time. From the start of the 2026 school year, the government will expand Free School Meals to all pupils with a parent receiving Universal Credit. This will put £500 back into parents’ pockets every year.

The most recent Ofgem energy price cap, in place until September is 7% lower than the previous cap, reducing annual energy bills for a typical home by £129. Additionally, the Warm Home Discount is being expanded to every billpayer on means-tested benefits, meaning 2.7 million extra households will receive £150 off their energy bills next winter, helping reduce energy costs for around 6 million households.

From this winter (2025-26), pensioners with incomes up to and including £35,000 will benefit a Winter Fuel Payment. This will mean that the vast majority — over three quarters, or 9 million pensioners in England and Wakes — will benefit. This change ensures that the means-testing of winter fuel payments has no effect on pensioner poverty.

The government’s top priority is to deliver strong, sustainable growth that raises living standards across the UK. A growing economy plays a key role in providing greater financial security for households and helping to make food, energy and credit more affordable.

Darren Jones
Chief Secretary to the Treasury
3rd Jul 2025
To ask the Chancellor of the Exchequer, what steps she is taking to reduce the burden of (a) food costs, (b) energy bills and (c) credit costs on households.

We know increased costs in essential areas are worrying and cause hardship for many families with children. That is why the Government is taking a comprehensive approach—supporting those in immediate need while addressing the structural changes necessary to fix the country's foundations.

Food, energy and credit costs are a function of a variety of factors including international agricultural commodity prices, the exchange rate, wholesale energy prices, and interest rates. The best way to help with the cost of living is by reducing overall inflation. The Bank of England has the responsibility of controlling inflation, and the Government fully supports them as they take action to sustainably return inflation to 2%. The independent Monetary Policy Committee (MPC) has cut Bank Rate four times since August. The effective interest rate – the actual interest paid by a borrower - on new a 2-year fixed rate mortgage has fallen 46 basis points since the election (May 2025 vs June 2024).

The government is committed to helping those in need due to the rising cost of living. An uplift to the Universal Credit Standard Allowance will see it rise to 5% above inflation by 2029-30. The government is also investing £1 billion a year (including Barnett impact) in a multi-year settlement for crisis support, which includes funding for councils to support some of the poorest households so that their children do not go hungry outside of term time. From the start of the 2026 school year, the government will expand Free School Meals to all pupils with a parent receiving Universal Credit. This will put £500 back into parents’ pockets every year.

The most recent Ofgem energy price cap, in place until September is 7% lower than the previous cap, reducing annual energy bills for a typical home by £129. Additionally, the Warm Home Discount is being expanded to every billpayer on means-tested benefits, meaning 2.7 million extra households will receive £150 off their energy bills next winter, helping reduce energy costs for around 6 million households.

From this winter (2025-26), pensioners with incomes up to and including £35,000 will benefit a Winter Fuel Payment. This will mean that the vast majority — over three quarters, or 9 million pensioners in England and Wakes — will benefit. This change ensures that the means-testing of winter fuel payments has no effect on pensioner poverty.

The government’s top priority is to deliver strong, sustainable growth that raises living standards across the UK. A growing economy plays a key role in providing greater financial security for households and helping to make food, energy and credit more affordable.

Darren Jones
Chief Secretary to the Treasury
3rd Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of average savings held by (a) low-income households and (b) pensioners for meeting emergency or unforeseen costs.

The Government is committed to incentivising saving and investment, helping people to save for their future goals and build greater financial resilience. Individual Savings Accounts (ISAs) support people of all incomes and at all stages of life to save. The Help to Save scheme also supports low-income working households to start a long-term savings habit.

As part of its forthcoming Financial Inclusion Strategy, the Government is considering how households, including those on low incomes, can increase their financial resilience; and how people of all ages across the UK can build emergency savings buffers. In addition to savings, the Financial Inclusion Committee has discussed digital inclusion and access to banking services; access to credit; access to insurance; problem debt; and financial education and capability.

The development of the Financial Inclusion Strategy is being informed by a committee of industry and consumer representatives which I chair. Summaries of the Committee meetings are available on GOV.UK. The Strategy will be published later this year.

No assessment has been made of the adequacy of average savings.

The Government keeps all aspects of the tax system under review.

Emma Reynolds
Economic Secretary (HM Treasury)
8th Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 1 July 2025 to Question 63032 on National Security: Expenditure, if she will publish the NATO reporting guidelines.

NATO has a common definition of defence expenditure that is agreed by all NATO allies.

The definition of NATO defence expenditure, and the recently announced defence and security related spending, can be found on the NATO website.

NATO - Topic: Defence expenditures and NATO’s 5% commitment

Darren Jones
Chief Secretary to the Treasury
4th Jul 2025
To ask the Chancellor of the Exchequer, if she will make it her policy to exempt film studios from the business rates surcharge for hereditaments with a rateable value over £500,000.

At Autumn Budget 2024, the Government announced an intention to introduce a higher business rates multiplier on the most valuable properties – those with Rateable Values (RVs) of £500,000 and above – from April 2026 to fund permanently lower multipliers for retail, hospitality and leisure (RHL) properties.

This permanent tax cut will ensure that RHL businesses benefit from much-needed certainty. The Government intends to fund this by introducing a higher multiplier on all properties with an RV of £500,000 and above – these represent less than one per cent of properties. The final details of the new higher multiplier will be set at Budget 2025.

Eligible film studios in England benefit from 40 per cent business rates relief. Business rates bills are calculated by applying the relevant multiplier first, meaning film studios receive 40 per cent relief on their total liability.

James Murray
Exchequer Secretary (HM Treasury)
3rd Jul 2025
To ask the Chancellor of the Exchequer, if she will publish an economic impact assessment on the potential impact of the National Insurance exemption for Indian nationals posted temporarily to the UK under the UK–India Free Trade Agreement on (a) wages, (b) employment opportunities and (c) recruitment practices in the UK information technology sector.

The OBR will certify the impact of the trade deal including the Double Contributions Convention in the usual way at a fiscal event, once the deal is finalised and ratified. The agreement to negotiate a Double Contributions Convention was made in the context of the wider deal, which will bring billions into the economy.

James Murray
Exchequer Secretary (HM Treasury)
8th Jul 2025
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of applying VAT to deposits in the Deposit Return Scheme on (a) return rates and (b) levels of (i) litter and (ii) recycling.

The Government remains committed to successful implementation of the Deposit Return Scheme, which is a critical step in moving towards a circular economy that delivers sustainable growth and produces less waste, rubbish, and litter.

The Government is keen to ensure that VAT is not a barrier to effective operation of the Deposit Return Scheme. The Government is considering how best to achieve this while maintaining the integrity of the tax, and this work is being supported by engagement with industry representatives, including the British Soft Drinks Association.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of the ongoing review of the customs treatment of low-value imports on tax revenue.

On 23rd April, the Government announced a review of the customs treatment for low value imports. Under our current low value import arrangements, consignments valued below £135 from any overseas retailer can be imported into the UK without incurring customs duty. VAT is due on all imports into the UK.

Since the announcement, Ministers and officials have engaged with a wide range of stakeholders on the impact and operation of these arrangements to support our review. The outcomes of the engagement will help inform our next steps.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of introducing a tiered business rates system to support (a) emerging and (b) small businesses.

The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

At Autumn Budget 2024, we took the first step with the announcement of permanently lower tax rates for the Retail, Hospitality and Leisure properties with rateable values below £500,000, from 2026-27.

Ahead of these changes being made, the Government recognises that businesses will need support in 2025-26. As such, we have prevented the current RHL relief from ending in April 2025, extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and we have frozen the small business multiplier.

The Budget announcements reflect the Government’s first steps to support the high street. We want to go further to modernise the system, and so, we have published a Discussion Paper setting out priority areas for reform.

In summer, the Government will publish an interim report that sets out a clear direction of travel for the business rates system, with further policy detail to follow at Autumn Budget 2025.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what recent progress she has made on the reform of business rates.

The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

At Autumn Budget 2024, we took the first step with the announcement of permanently lower tax rates for the Retail, Hospitality and Leisure properties with rateable values below £500,000, from 2026-27.

Ahead of these changes being made, the Government recognises that businesses will need support in 2025-26. As such, we have prevented the current RHL relief from ending in April 2025, extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and we have frozen the small business multiplier.

The Budget announcements reflect the Government’s first steps to support the high street. We want to go further to modernise the system, and so, we have published a Discussion Paper setting out priority areas for reform.

In summer, the Government will publish an interim report that sets out a clear direction of travel for the business rates system, with further policy detail to follow at Autumn Budget 2025.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, how many small and medium-sized enterprises in Northern Ireland have used the Trader Support Service; and what proportion of the service’s costs have supported those businesses.

The Trader Support Service (TSS) is available to businesses of all sizes to support them with moving goods between Great Britain and Northern Ireland. It is not possible to specify the numbers of Small and Medium-sized Enterprises (SMEs) that use the TSS, and therefore not possible to disaggregate the costs of provision of support to those SMEs from the overall support the TSS provides to business.

James Murray
Exchequer Secretary (HM Treasury)