Asked by: Pippa Heylings (Liberal Democrat - South Cambridgeshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the differential treatment of electric and internal combustion engine motorcycles under the proposed electric Vehicle Excise Duty framework; and whether she has considered extending any VED exemptions to all motorcycles on the basis of their road surface impact.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The government will implement electric Vehicle Excise Duty (eVED) as an additional mileage based add-on to Vehicle Excise Duty (VED) for electric and plug-in hybrid cars, which is designed to replace the fuel duty revenues which will be lost as petrol and diesel vehicles are phased out over time.
Other vehicle types, such as vans, buses, HGVs and motorcycles will not be in scope of eVED upon its introduction in April 2028. At this stage, the transition to electric for these other vehicle types is less advanced than for cars.
Under VED, different rates apply to cars, vans, and motorcycles, and the rate for each vehicle is calculated according to a range of factors, such as its date of first registration, weight, or CO2 emissions. There are no plans to extend VED exemptions to motorcycles based on their road surface impact.
Asked by: Scott Arthur (Labour - Edinburgh South West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make it her policy to bring in (a) relief and (b) reduction in Vehicle Excise Duty rates for UK-manufactured battery electric vehicles.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Vehicle Excise Duty (VED) is a tax on vehicles used or kept on public roads. As announced by the previous Government at Autumn Statement 2022, from April 2025, zero emission and hybrid cars, vans and motorcycles now pay VED in a similar way to petrol and diesel vehicles. Revenue from motoring taxes helps ensure we can continue to fund the vital public services and infrastructure that people and families across the UK expect.
The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events in the context of the public finances.
Asked by: Daisy Cooper (Liberal Democrat - St Albans)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 12 March to Question 118384 on Hybrid Vehicles: Excise Duties, whether she has considered the potential merits of allowing those PHEV drivers who (a) opt in to doing so and (b) have vehicles with the technical means to record miles driven in electric or petrol mode, to submit accurate returns to allow eVED to be paid only on those miles not already subject to fuel duty.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
As announced at Budget 2025, plug-in hybrid vehicles (PHEVs) will be subject to a reduced electric Vehicle Excise Duty rate of 1.5 pence per mile upon its introduction in April 2028 – half the rate that will apply to fully electric cars. This approach recognises that PHEVs have the capacity to drive in either electric or petrol mode and strikes the right balance between fairness, protecting motorists’ privacy and minimising administrative burdens on motorists.
The government recognises that the large majority of EVs and PHEVs have in-built vehicle telematics, which monitor various driving activities and are viewable by drivers, vehicle manufacturers, or permitted third parties in some cases.
The government will not mandate use of these telematics for administering eVED; however, it welcomed views in the consultation on how various types of technologies could be used on an opt-in basis in future to simplify the system and reduce administrative burdens on motorists and businesses.
The consultation closed on 18 March 2026. The Government will publish a response in due course.
Asked by: Yasmin Qureshi (Labour - Bolton South and Walkden)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the Office for Budget Responsibility provided estimates between March 2016 and April 2028 on the potential impact that the proposed Soft Drinks Industry Levy would have on the Consumer Price Index (CPI); and what estimate her Department has made of the potential impact of that policy on the CPI in the 2018-19 financial year.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Forecasting the economy, including the impact of Government policy decisions on inflation, is the responsibility of the independent Office for Budget Responsibility (OBR).
The OBR set out its latest assessment of policy measures in its Spring Forecast 2026, published on 3 March 2026. The OBR did not publish a specific estimate of the impact of the Soft Drinks Industry Levy on inflation in that forecast, or in previous Economic and Fiscal Outlook publications since the levy was announced in 2016, which would include the impact for the 2018-19 financial year.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for economic growth of the proportion of UK household wealth held directly in equities being lower than in other G7 countries.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of high levels of household cash savings on long-term financial resilience and returns for UK consumers.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking with other Government departments to improve (i) financial education and (ii) investment literacy among the public.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to encourage greater participation in equity investment among UK households.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that regulatory frameworks support greater access to low-cost retail investment products.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget.
The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing.
In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances.
In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
Asked by: John Glen (Conservative - Salisbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, To ask the Chancellor of the Exchequer, pursuant to the Answer to Question UIN 123141, of 31 March 2026, if she knows when the OBR expect to publish their first set of areas of research interest.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
The Office for Budget Responsibility (OBR) has full discretion over the timing of its publication programme.
The November 2025 Economic and Fiscal Outlook stated that the OBR will be publishing its first set of areas of research interest in the coming months.