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

Rishi Sunak
Chancellor of the Exchequer

Shadow Ministers / Spokeperson
Labour
Rachel Reeves (LAB - Leeds West)
Shadow Chancellor of the Exchequer

Liberal Democrat
Baroness Kramer (LDEM - Life peer)
Liberal Democrat Lords Spokesperson (Treasury and Economy)
Christine Jardine (LDEM - Edinburgh West)
Liberal Democrat Spokesperson (Treasury)

Scottish National Party
Alison Thewliss (SNP - Glasgow Central)
Shadow SNP Spokesperson (Treasury)

Democratic Unionist Party
Sammy Wilson (DUP - East Antrim)
Shadow DUP Spokesperson (Treasury)

Labour
Lord Tunnicliffe (LAB - Life peer)
Shadow Spokesperson (Treasury)

Plaid Cymru
Ben Lake (PC - Ceredigion)
Shadow PC Spokesperson (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Scottish National Party
Peter Grant (SNP - Glenrothes)
Shadow SNP Deputy Spokesperson (Treasury - Chief Secretary)

Labour
Pat McFadden (LAB - Wolverhampton South East)
Shadow Chief Secretary to the Treasury
James Murray (LAB - Ealing North)
Shadow Financial Secretary (Treasury)
Tulip Siddiq (LAB - Hampstead and Kilburn)
Shadow Minister (Treasury)

Scottish National Party
Richard Thomson (SNP - Gordon)
Shadow SNP Deputy Spokesperson (Treasury - Financial Secretary)
Junior Shadow Ministers / Deputy Spokesperson
Labour
Abena Oppong-Asare (LAB - Erith and Thamesmead)
Shadow Exchequer Secretary (Treasury)
Ministers of State
John Glen (CON - Salisbury)
Minister of State (Treasury) (City)
Simon Clarke (CON - Middlesbrough South and East Cleveland)
Chief Secretary to the Treasury
Lucy Frazer (CON - South East Cambridgeshire)
Financial Secretary (HM Treasury)
Parliamentary Under-Secretaries of State
John Glen (CON - Salisbury)
Economic Secretary (HM Treasury)
Helen Whately (CON - Faversham and Mid Kent)
Exchequer Secretary (HM Treasury)
Scheduled Event
Monday 4th July 2022
15:00
Treasury Committee - Private Meeting - Select & Joint Committees
4 Jul 2022, 3 p.m.

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Scheduled Event
Tuesday 5th July 2022
HM Treasury
Estimates Day - Main Chamber
(1st allotted day). There will be a debate on estimates relating to the Department for Work and Pensions, insofar as it relates to the spending of the Department for Work and Pensions on the cost of living measures on the office of the Secretary of State for Wales, insofar as it relates to the spending of the office of the Secretary of State for Wales on measures to support the Welsh economy, and its consequences for funding the devolved institutions and on the Department for Business, Energy and Industrial Strategy, insofar as it relates to the spending of the Department for Business, Energy and Industrial Strategy on action on climate change and decarbonisation
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Scheduled Event
Tuesday 5th July 2022
HM Treasury
Motion - Main Chamber
Ways and Means Resolution relating to the Energy (Oil and Gas) Profits Levy
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Scheduled Event
Wednesday 6th July 2022
HM Treasury
Estimates Day - Main Chamber
(2nd allotted day). There will be a debate on estimates relating to the Department for Education and on the Foreign, Commonwealth and Development Office, insofar as it relates to the spending of the Foreign, Commonwealth and Development Office on the strategy for international development. At 7.00pm, the House will be asked to agree all Outstanding estimates
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Scheduled Event
Thursday 7th July 2022
10:00
Treasury Committee - Oral evidence - Select & Joint Committees
7 Jul 2022, 10 a.m.
Work of the Financial Conduct Authority
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Scheduled Event
Monday 11th July 2022
15:00
Treasury Committee - Private Meeting - Select & Joint Committees
11 Jul 2022, 3 p.m.

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Scheduled Event
Wednesday 13th July 2022
14:00
Treasury Committee - Private Meeting - Select & Joint Committees
13 Jul 2022, 2 p.m.

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Scheduled Event
Monday 18th July 2022
15:00
Treasury Committee - Private Meeting - Select & Joint Committees
18 Jul 2022, 3 p.m.

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Scheduled Event
Wednesday 20th July 2022
14:00
Treasury Committee - Private Meeting - Select & Joint Committees
20 Jul 2022, 2 p.m.

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Scheduled Event
Wednesday 7th September 2022
14:00
Treasury Committee - Private Meeting - Select & Joint Committees
7 Sep 2022, 2 p.m.

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Scheduled Event
Tuesday 13th September 2022
11:30
HM Treasury
Oral questions - Main Chamber
13 Sep 2022, 11:30 a.m.
Treasury (including Topical Questions)
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Debates
Thursday 30th June 2022
Customs Undervaluation Case
Written Statements
Select Committee Inquiry
Thursday 28th April 2022
The venture capital market

The Committee is holding a short inquiry into the venture capital market.

Read the call for evidence to find out …

Written Answers
Friday 1st July 2022
Inflation: Young People
To ask Her Majesty's Government what plans they have to introduce additional measures aimed at helping young people deal with …
Secondary Legislation
Thursday 30th June 2022
Financial Services and Markets Act 2000 (Regulated Activities) (Amendment) (No. 2) Order 2022
This Order makes amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (“the Order”).
Bills
Wednesday 11th May 2022
UK Infrastructure Bank Bill [HL] 2022-23
A Bill to make provision about the UK Infrastructure Bank
Dept. Publications
Friday 1st July 2022
17:18

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
Jun. 28
Oral Questions
Jun. 30
Written Statements
Jun. 14
Westminster Hall
Jun. 22
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

Introduced: 11th May 2022

A Bill to make provision about the UK Infrastructure Bank

Lords - 40%

Last Event - Lords
Tuesday 14th June 2022
(Read Debate)
Next Event - Report Stage (Lords)
Monday 4th July 2022

Acts of Parliament created in the 2019 Parliament

Introduced: 24th March 2022

A Bill to make provision for and in connection with increasing the thresholds at which primary Class 1 contributions, Class 2 contributions and Class 4 contributions become payable.

This Bill received Royal Assent on Thursday 31st March 2022 and was enacted into law.

Introduced: 12th May 2021

A Bill to make provision in relation to national insurance contributions.

This Bill received Royal Assent on Monday 14th March 2022 and was enacted into law.

Introduced: 9th March 2022

A Bill To Authorise the use of resources for the years ending with 31 March 2021, 31 March 2022 and 31 March 2023; 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 2021 and 31 March 2022.

This Bill received Royal Assent on Monday 14th March 2022 and was enacted into law.

Introduced: 19th July 2021

A Bill to make provision about public service pension schemes, including retrospective provision to rectify unlawful discrimination in the way in which existing schemes were restricted under the Public Service Pensions Act 2013 and corresponding Northern Ireland legislation; to make provision for the establishment of new public pension schemes for members of occupational pension schemes of bodies that were brought into public ownership under the Banking (Special Provisions) Act 2008; to make provision about the remuneration and the date of retirement of holders of certain judicial offices; to make provision about judicial service after retirement; and for connected purposes

This Bill received Royal Assent on Thursday 10th March 2022 and was enacted into law.

Introduced: 2nd November 2021

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on Thursday 24th February 2022 and was enacted into law.

Introduced: 8th September 2021

A Bill to make provision about the meaning of references to Article 23A benchmarks in contracts and other arrangements; and to make provision about the liability of administrators of Article 23A benchmarks

This Bill received Royal Assent on Wednesday 15th December 2021 and was enacted into law.

Introduced: 8th September 2021

A Bill to make provision imposing a tax (to be known as the health and social care levy), the proceeds of which are payable to the Secretary of State towards the cost of health care and social care, on amounts in respect of which national insurance contributions are, or would be if no restriction by reference to pensionable age were applicable, payable; and for connected purposes.

This Bill received Royal Assent on Wednesday 20th October 2021 and was enacted into law.

Introduced: 12th May 2021

A Bill to provide for the payment out of money provided by Parliament of expenditure incurred by the Treasury for, or in connection with, the payment of compensation to customers of London Capital & Finance plc; provide for the making of loans to the Board of the Pension Protection Fund for the purposes of its fraud compensation functions; and for connected purposes.

This Bill received Royal Assent on Wednesday 20th October 2021 and was enacted into law.

Introduced: 30th June 2021

A Bill to authorise the use of resources for the year ending with 31 March 2022; 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 2021.

This Bill received Royal Assent on Monday 19th July 2021 and was enacted into law.

Introduced: 9th March 2021

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on Thursday 10th June 2021 and was enacted into law.

Introduced: 21st October 2020

A Bill to make provision about financial services and markets; to make provision about debt respite schemes; to make provision about Help-to-Save accounts; and for connected purposes.

This Bill received Royal Assent on Thursday 29th April 2021 and was enacted into law.

Introduced: 9th March 2021

A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.

This Bill received Royal Assent on Monday 15th March 2021 and was enacted into law.

Introduced: 10th March 2021

A Bill to authorise the use of resources for the years ending with 31 March 2019, 31 March 2020, 31 March 2021 and 31 March 2022; to authorise the issue of sums out of the Consolidated Fund for the years ending 31 March 2020, 31 March 2021 and 31 March 2022; and to appropriate the supply authorised by this Act for the years ending with 31 March 2019, 31 March 2020 and 31 March 2021.

This Bill received Royal Assent on Monday 15th March 2021 and was enacted into law.

Introduced: 4th February 2021

A Bill to make provision for payments to or in respect of Ministers and holders of Opposition offices on maternity leave.

This Bill received Royal Assent on Monday 1st March 2021 and was enacted into law.

Introduced: 8th December 2020

A Bill to make provision (including the imposition and regulation of new duties of customs) in connection with goods in Northern Ireland and their movement into or out of Northern Ireland; to make provision amending certain enactments relating to value added tax, excise duty or insurance premium tax; to make provision in connection with the recovery of unlawful state aid in relation to controlled foreign companies; and for connected purposes.

This Bill received Royal Assent on Thursday 17th December 2020 and was enacted into law.

Introduced: 9th July 2020

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Introduced: 13th July 2020

A Bill to make provision to reduce for a temporary period the amount of stamp duty land tax chargeable on the acquisition of residential property.

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Introduced: 17th March 2020

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Introduced: 24th March 2020

A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.

This Bill received Royal Assent on Wednesday 25th March 2020 and was enacted into law.

Introduced: 2nd March 2020

A Bill to authorise the use of resources for the years ending with 31 March 2020 and 31 March 2021; 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 year ending with 31 March 2020.

This Bill received Royal Assent on Monday 16th March 2020 and was enacted into law.

HM Treasury - Secondary Legislation

This Order makes amendments to the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (“the Order”).
This Order increases, from 21st July 2022, the limits on the maximum award of damages which may be made against a trade union in proceedings in tort where section 22 of the Trade Union and Labour Relations (Consolidation) Act 1992 (“the 1992 Act”) applies, as specified in Article 2.
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).

Trending Petitions
Petition Open
25,045 Signatures
(7,895 in the last 7 days)
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5,040 Signatures
(1,433 in the last 7 days)
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6,426 Signatures
(736 in the last 7 days)
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33,134 Signatures
(625 in the last 7 days)
Petitions with most signatures
Petition Open
33,134 Signatures
(625 in the last 7 days)
Petition Open
25,045 Signatures
(7,895 in the last 7 days)
Petition Debates Contributed

Extending the Stamp Duty Holiday for an additional 6 months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise.
This will help to stabilise the housing market

The government is helping private firms to protect jobs by paying up to 80% of staff wages through this crisis. If it can do this why can it not help key workers who will be putting themselves/their families at risk and working extra hard under extremely challenging and unprecedented circumstances.

Air pollution kills 64,000 people in the UK every year, yet the Government provides annual fossil fuel subsidies of £10.5 billion, according to the European Commission. To meet UK climate targets, the Government must end this practice and introduce charges on producers of greenhouse gas emissions.

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
Mel Stride Portrait
Mel Stride (Conservative - Central Devon)
Treasury Committee Chair since 27th January 2020
Alison Thewliss Portrait
Alison Thewliss (Scottish National Party - Glasgow Central)
Treasury Committee Member since 2nd March 2020
Julie Marson Portrait
Julie Marson (Conservative - Hertford and Stortford)
Treasury Committee Member since 2nd March 2020
Angela Eagle Portrait
Angela Eagle (Labour - Wallasey)
Treasury Committee Member since 2nd March 2020
Anthony Browne Portrait
Anthony Browne (Conservative - South Cambridgeshire)
Treasury Committee Member since 2nd March 2020
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 2nd March 2020
Rushanara Ali Portrait
Rushanara Ali (Labour - Bethnal Green and Bow)
Treasury Committee Member since 2nd March 2020
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 11th May 2020
Emma Hardy Portrait
Emma Hardy (Labour - Kingston upon Hull West and Hessle)
Treasury Committee Member since 20th April 2021
Gareth Davies Portrait
Gareth Davies (Conservative - Grantham and Stamford)
Treasury Committee Member since 19th October 2021
Kevin Hollinrake Portrait
Kevin Hollinrake (Conservative - Thirsk and Malton)
Treasury Committee Member since 14th December 2021
Treasury Committee: Upcoming Events
Treasury Committee - Private Meeting
4 Jul 2022, 3 p.m.
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Treasury Committee - Oral evidence
Work of the Financial Conduct Authority
7 Jul 2022, 10 a.m.
At 10.05am: Oral evidence
Nikhil Rathi - Chief Executive at Financial Conduct Authority
Richard Lloyd OBE - Interim Chair at Financial Conduct Authority

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Treasury Committee - Private Meeting
11 Jul 2022, 3 p.m.
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Treasury Committee - Private Meeting
13 Jul 2022, 2 p.m.
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Treasury Committee - Private Meeting
18 Jul 2022, 3 p.m.
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Treasury Committee - Private Meeting
20 Jul 2022, 2 p.m.
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Treasury Committee - Private Meeting
7 Sep 2022, 2 p.m.
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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 UK Customs Policy Infrastructure The cost of living The venture capital market 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

23rd Jun 2022
To ask Her Majesty's Government what plans they have to introduce legislation to limit the ability of private creditors to sue low-income countries indebted to them in the English Courts.

The Government is fully focused on ensuring that the private sector provides debt relief for low-income countries where this is required as part of an internationally agreed debt treatment. For example, under the Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative, private sector participation on at least as favourable terms as bilateral creditors is a fundamental principle. The G20, including the UK, has repeatedly emphasised the importance of this principle.

The Government does not currently have any intention to pursue a legislative approach that would force private lenders to participate in debt relief initiatives. Any legislative approach would need to address a number of challenges. For example, legislating may increase the cost of finance for low-income countries or reduce the availability of finance to meet wider development goals.

Baroness Penn
Baroness in Waiting (HM Household) (Whip)
22nd Jun 2022
To ask Her Majesty's Government what plans they have to introduce additional measures aimed at helping young people deal with inflationary pressures.

The government understands that millions of people across the UK, of all ages, are worried about the rising cost of living.

From 1 April 2022, the National Minimum Wage for people aged 21-22 increased by 9.8% to £9.18 an hour and the Apprentice Rate increased by 11.9% to £4.81 an hour.

On 26 May 2022, the government announced over £15 billion of additional support for households, targeted particularly on those with the greatest need, bringing total government support for the cost of living to over £37 billion this year.

Young people may be able to benefit from the additional support the government is providing, including:

• £400 off household energy bills from October through an expansion of the Energy Bills Support Scheme (EBSS);

• a one-off Cost of Living Payment of £650 for households on means-tested benefits; and an additional one-off disability Cost of Living Payment of £150 for disabled people;

• an extra £500 million of local support, via the Household Support Fund, for those in need of additional support

Baroness Penn
Baroness in Waiting (HM Household) (Whip)
22nd Jun 2022
To ask the Chancellor of the Exchequer, when his Department plans to respond to the correspondence from the hon. Member for Gordon of 3 March 2022 on the VAT rate for the hospitality and tourism sectors.

A response was sent to the hon. Member for Gordon on 23 June 2022.
Lucy Frazer
Financial Secretary (HM Treasury)
22nd Jun 2022
To ask the Chancellor of the Exchequer, if he will take steps to prevent tax rebate companies from taking a proportion of money owed to a person in a tax rebate.

Individuals can claim tax repayments directly from HMRC, which has introduced new digital services to make this easier. If they claim directly, as many individuals do, they get to keep the full amount of the payment they are due.

Around 500,000 individuals use third-party repayment agents annually to claim tax refunds. Many individuals value this service, understand and accept the fee structure, and are repeat users. The government recognises this and does not want to prevent individuals who want to use repayment agents from doing so.

However, the government recognises concerns that some individuals are being charged excessive fees, and that the terms and conditions under which services are provided have not been made clear.

The government launched a consultation “Raising standards in tax advice: protecting customers claiming tax repayments” on 22 June 2022, which proposes measures to protect the public from unscrupulous repayment agent practises. This consultation will close on 14 September 2022. This forms part of the government’s agenda to raise standards in the market for tax advice.

Lucy Frazer
Financial Secretary (HM Treasury)
23rd Jun 2022
To ask the Chancellor of the Exchequer, if he will make it his policy to ensure that children in care receive National Insurance numbers at the same time as children living with their biological parents; and if she will make a statement.

It is HMRC policy to issue National Insurance numbers to all children where HMRC hold current personal details. For some children who are in care, a special process exists for social workers to confirm the details so that the young person can receive their National Insurance number on time.
Lucy Frazer
Financial Secretary (HM Treasury)
22nd Jun 2022
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of a windfall tax on investment plans of electricity generators.

Within the Economy Update on 26th May, the Chancellor announced the Government is urgently evaluating the scale of extraordinary profits in the energy generation sector and the appropriate next steps.

As part of this process, officials are currently engaging with industry stakeholders, to gather evidence on energy generator’s level of profitability and the operation of their business models.

The PM’s ten-point plan and recent energy security strategy has set the UK on a pathway to a significant movement away from gas generation and towards renewables and low-carbon technologies.

The Government recognises that any measures, tax or otherwise, need to be proportionate and avoid creating undue distortion or impacts on UK investment.

Lucy Frazer
Financial Secretary (HM Treasury)
22nd Jun 2022
To ask the Chancellor of the Exchequer, when he plans to make a decision on whether to impose a windfall tax on electricity generators.

Within the Economy Update on 26th May, the Chancellor announced the Government is urgently evaluating the scale of extraordinary profits in the energy generation sector and the appropriate next steps.

As part of this process, officials are currently engaging with industry stakeholders, to gather evidence on energy generator’s level of profitability and the operation of their business models.

The PM’s ten-point plan and recent energy security strategy has set the UK on a pathway to a significant movement away from gas generation and towards renewables and low-carbon technologies.

The Government recognises that any measures, tax or otherwise, need to be proportionate and avoid creating undue distortion or impacts on UK investment.

Lucy Frazer
Financial Secretary (HM Treasury)
22nd Jun 2022
To ask the Chancellor of the Exchequer, whether his Department (a) has made and (b) plans to make an assessment of the potential impact of a windfall tax on electricity generators on the cost of future renewable energy projects.

Within the Economy Update on 26th May, the Chancellor announced the Government is urgently evaluating the scale of extraordinary profits in the energy generation sector and the appropriate next steps.

As part of this process, officials are currently engaging with industry stakeholders, to gather evidence on energy generator’s level of profitability and the operation of their business models.

The PM’s ten-point plan and recent energy security strategy has set the UK on a pathway to a significant movement away from gas generation and towards renewables and low-carbon technologies.

The Government recognises that any measures, tax or otherwise, need to be proportionate and avoid creating undue distortion or impacts on UK investment.

Lucy Frazer
Financial Secretary (HM Treasury)
22nd Jun 2022
To ask the Chancellor of the Exchequer, what recent discussions he has had with representatives of electricity generators on a potential windfall tax on the sector.

Within the Economy Update on 26th May, the Chancellor announced the Government is urgently evaluating the scale of extraordinary profits in the energy generation sector and the appropriate next steps.

As part of this process, officials are currently engaging with industry stakeholders, to gather evidence on energy generator’s level of profitability and the operation of their business models.

The PM’s ten-point plan and recent energy security strategy has set the UK on a pathway to a significant movement away from gas generation and towards renewables and low-carbon technologies.

The Government recognises that any measures, tax or otherwise, need to be proportionate and avoid creating undue distortion or impacts on UK investment.

Lucy Frazer
Financial Secretary (HM Treasury)
23rd Jun 2022
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of the temporary windfall tax on future investment plans of electricity generation companies.

Within the Economy Update on 26th May, the Chancellor announced the Government is urgently evaluating the scale of extraordinary profits in the energy generation sector and the appropriate next steps.

As part of this process, officials are currently engaging with industry stakeholders, to gather evidence on energy generator’s level of profitability and the operation of their business models.

The PM’s ten-point plan and recent energy security strategy has set the UK on a pathway to a significant movement away from gas generation and towards renewables and low-carbon technologies.

The Government recognises that any measures, tax or otherwise, need to be proportionate and avoid creating undue distortion or impacts on UK investment.

Lucy Frazer
Financial Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, what steps his Department has taken to support people who bought funeral plans from Safe Hands Plans in the context of the closure of that business; and if he will undertake a review of the reasons for the closure of Safe Hands Plans.

In January 2021, the government legislated to bring all pre-paid funeral plan providers and intermediaries within the regulatory remit of the Financial Conduct Authority (FCA). This will ensure that, for the first time, consumers are protected by compulsory and robust regulation.

Safe Hands Plans went into administration in March 2022. The government understands that this will be concerning for customers of Safe Hands and continues to monitor the implementation of regulation in this sector closely.

Dignity’s recent commitment to provide ongoing support to Safe Hands’ customers until November 2022 is welcome. This will ensure that any planholders who pass away during this time will receive a funeral without any additional charge.

The administration process for Safe Hands is an ongoing legal process under the general control of court. This process may provide further information about what has happened at the firm, and the government awaits the outcome with interest.

John Glen
Economic Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, whether his department requested the publication of Towers Waston's calculations of the relative losses of Equitable Life policyholders affected by maladministration.

The methodology for calculating payments to Equitable Life policyholders was published in 2011 and can be found at: www.gov.uk/government/publications/equitable-life-payment-scheme-design.

John Glen
Economic Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, how much of the £1.5 billion in announced by the Treasury for compensating Equitable Life policyholders has not been spent as of 24 June 2022.

At 31 May 2022, the total value of payments made by the Equitable Life Payment Scheme was £1,305,099,430.44

John Glen
Economic Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, what assessment he has made of the impact of levels of unfilled vacancies at the Financial Conduct Authority on the regulator's ability to fulfil its statutory objectives.

The Financial Conduct Authority (FCA) is operationally independent from the Government. Questions about the FCA’s day to day decision making, including details about staffing, budget and spending are matters for the independent FCA.

These questions have therefore been passed to the FCA who will respond directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.

John Glen
Economic Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, how much the Financial Conduct Authority has spent in the last 12 months on legal fees and advice relating to its dispute with Unite on recognising a trade union.

The Financial Conduct Authority (FCA) is operationally independent from the Government. Questions about the FCA’s day to day decision making, including details about staffing, budget and spending are matters for the independent FCA.

These questions have therefore been passed to the FCA who will respond directly to the honourable member by letter. A copy of the letter will be placed in the Library of the House.

John Glen
Economic Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, whether he has made a recent assessment of the potential effect of a cashless society on the elderly.

The government recognises that while the transition towards digital payments brings many opportunities cash remains an important part of daily life for millions of people across the UK, including those who may be in vulnerable groups or elderly. The government remains closely engaged with the financial regulators, including through the Treasury-chaired Joint Authorities Cash Strategy Group, to monitor trends relating to the use of cash by people and businesses.

In the Queen’s Speech in May 2022 the government announced that it will introduce legislation to protect access to cash as part of the Financial Services and Markets Bill. The government intends to establish the FCA as the lead regulator for access to cash with responsibility to ensure that people can continue to access cash withdrawal and deposit facilities. Through this legislation the government intends to ensure that people can continue to use cash in their day-to-day lives. The Bill will be brought forward when Parliamentary time allows.

John Glen
Economic Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, what steps he plans to take to ensure that victims of financial abuse are not (a) disallowed from mortgages, (b) given poor credit ratings and (c) negatively impacted in other ways by the finance industry.

The Government is strongly committed to tackle financial exclusion and discrimination and aims for everyone, whatever their background or income, to be able to access useful and affordable financial products and services. The Government works closely together with regulators, the financial services industry and other stakeholders, to ensure that all consumers of financial services are appropriately protected.

Industry-agreed principles, rather than government policy, determine what and how information is shared between organisations and Credit Reference Agencies (CRAs). CRAs then hold this information on individuals’ credit files and use it to create a credit score.

Consumers can add a Notice (of up to 200 words) to their credit file explaining any circumstances, such as being a victim of financial abuse, that may impact decisions made about their applications for credit, including mortgages. Lenders should take the content of this Notice into account alongside the other information on the credit file. In addition, the Financial Conduct Authority (FCA) is currently undertaking a Credit Information Market Study which is assessing how the sector is working now and how it may develop in the future. The FCA will publish an interim report in summer 2022.

The FCA is also currently developing a new Consumer Duty, which would require firms to place more emphasis on the needs of all customers, including those who are vulnerable or at risk of being financially excluded. The FCA is required to publish its final rules before the end of July.

Prior to this, in February 2021, the FCA also published its finalised guidance for firms on the fair treatment of vulnerable customers, setting out a number of best practices (https://www.fca.org.uk/publications/finalised-guidance/guidance-firms-fair-treatment-vulnerable-customers).

This applies to all firms where the FCA Principles for Business apply, regardless of sector and in respect of the supply of products or services to retail customers.

John Glen
Economic Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, what recent discussions he has had with the Financial Services Ombudsman about reducing waiting times in both allocating and investigating cases.

The Financial Ombudsman Service (FOS) is an independent non-governmental body. The Treasury is not involved in the day-to-day operations of the FOS and the remit of the FOS is set out by the Financial Conduct Authority. The rules on how the FOS should handle complaints state that ‘The ombudsman will attempt to resolve complaints at the earliest possible stage. Inevitably some cases will be more complex than others and therefore take more time to resolve, however the FOS should deal with all cases in a timely manner.

Nevertheless, the Government agrees that it is vitally important that the FOS should be accountable for its performance and the quality of its work. The FOS answers to a board of directors, appointed by the Financial Conduct Authority, and must make a report each year on the discharge of its functions which is required to be laid before Parliament. This ensures Parliament is able to scrutinise the efficiency, effectiveness and economy with which the FOS carries out its functions. There are also regular meetings between Treasury officials and the FOS where relevant emerging issues are discussed.

John Glen
Economic Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, what assessment he has made of the effect on (a) consumers and (b) SMEs of high unadvertised exchange fees charged by some foreign exchange services.

The Government recognises the importance of transparency of fees and charges in ensuring effective competition between payment service providers.

Where currency conversion is provided as part of a payment transaction, the Payment Services Regulations 2017 make requirements on UK payment service providers regarding disclosure of fees and charges to the payer, for example, the exchange rate used for a currency conversion transaction. Provisions under the Cross Border Payments Regulation, which continue to apply in the UK as part of retained EU law, also contribute to price transparency, with further requirements regarding how foreign exchange costs must be communicated before a payment is made. The Financial Conduct Authority (FCA) is the relevant regulatory authority with responsibility for monitoring and enforcing these requirements, and should the FCA have concerns regarding firms’ compliance with the requirements on fee advertisement, it will take appropriate action as necessary

These regulations, among other things, are intended to enable payment service users such as consumers and SMEs to make informed decisions when making use of payment services, including where currency conversion is offered as part of a payment transaction. The Government has no plans at this time to amend the requirements on firms, but keeps all policy under review.

John Glen
Economic Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, if he will take steps to review the adequacy of the transparency of exchange fees charged to UK consumers by foreign exchange services.

The Government recognises the importance of transparency of fees and charges in ensuring effective competition between payment service providers.

Where currency conversion is provided as part of a payment transaction, the Payment Services Regulations 2017 make requirements on UK payment service providers regarding disclosure of fees and charges to the payer, for example, the exchange rate used for a currency conversion transaction. Provisions under the Cross Border Payments Regulation, which continue to apply in the UK as part of retained EU law, also contribute to price transparency, with further requirements regarding how foreign exchange costs must be communicated before a payment is made. The Financial Conduct Authority (FCA) is the relevant regulatory authority with responsibility for monitoring and enforcing these requirements, and should the FCA have concerns regarding firms’ compliance with the requirements on fee advertisement, it will take appropriate action as necessary

These regulations, among other things, are intended to enable payment service users such as consumers and SMEs to make informed decisions when making use of payment services, including where currency conversion is offered as part of a payment transaction. The Government has no plans at this time to amend the requirements on firms, but keeps all policy under review.

John Glen
Economic Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, what assessment his Department has made of the effectiveness of financial institutions in signing up to the contingent reimbursement model code to protect consumers from authorised push payment fraud.

The Government recognises the actions of the financial services industry to help tackle APP fraud, including the creation of the Contingent Reimbursement Model Code. The Contingent Reimbursement Model (CRM) is a voluntary code which sets out reimbursement standards for signatory Payment Service Providers (PSPs).

With nine of the UK’s largest banks signatory to the Code, the CRM has had some beneficial impacts since its introduction in May 2019. However, while improving matters, the Code comes with limitations, including disparity in how different payment service providers are interpreting their obligations under it, as well as its lack of comprehensive cover across providers.

The Government therefore welcomed the PSR’s recent consultation on APP scams, which set out various potential measures that could improve scam prevention and outcomes, including proposals to introduce mandatory requirements to reimburse victims. The Government has confirmed it intends to legislate to address any barriers regarding regulatory action on mandatory reimbursement when parliamentary time allows, as part of the Financial Services & Markets Bill. Treasury Officials also undertake regular engagement with financial services firms, the Lending Standards Board (who oversee the CRM Code) and other stakeholders, to understand what further action can be taken to protect consumers from APP fraud.

John Glen
Economic Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, what recent discussions his officials have had with financial institutions about signing up to the Contingent Reimbursement Model code.

The Government recognises the actions of the financial services industry to help tackle APP fraud, including the creation of the Contingent Reimbursement Model Code. The Contingent Reimbursement Model (CRM) is a voluntary code which sets out reimbursement standards for signatory Payment Service Providers (PSPs).

With nine of the UK’s largest banks signatory to the Code, the CRM has had some beneficial impacts since its introduction in May 2019. However, while improving matters, the Code comes with limitations, including disparity in how different payment service providers are interpreting their obligations under it, as well as its lack of comprehensive cover across providers.

The Government therefore welcomed the PSR’s recent consultation on APP scams, which set out various potential measures that could improve scam prevention and outcomes, including proposals to introduce mandatory requirements to reimburse victims. The Government has confirmed it intends to legislate to address any barriers regarding regulatory action on mandatory reimbursement when parliamentary time allows, as part of the Financial Services & Markets Bill. Treasury Officials also undertake regular engagement with financial services firms, the Lending Standards Board (who oversee the CRM Code) and other stakeholders, to understand what further action can be taken to protect consumers from APP fraud.

John Glen
Economic Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, if he will ask HMRC to examine individual cases where there is a dispute as to whether a service is provided by a managed service provider.

The Managed Service Companies (MSC) legislation, introduced in 2007, prevents the large-scale promotion of structures where workers work through companies that serve no commercial purpose beyond trying to achieve a tax saving.

The MSC rules require there to be an MSC provider, who is the promoter of these arrangements. It is not the case, however, that all clients of an MSC provider will necessarily be an MSC. HMRC guidance in the Employment Status Manual at ESM3510 sets out the criteria.

If a person disagrees with a tax decision made by HMRC, they have the right to appeal, request a review, or notify the appeal to the tax tribunal.

HMRC, will seek, wherever possible, to handle disputes by working collaboratively with customers. In any dispute, HMRC will seek to establish and understand the relevant evidence and facts as quickly and efficiently as possible.

Lucy Frazer
Financial Secretary (HM Treasury)
23rd Jun 2022
To ask the Chancellor of the Exchequer, what steps he is taking to ensure UK businesses exporting to the EU are not paying high import duties and taxes on their goods.

Under the UK-EU Trade and Co-operation Agreement (TCA), both the UK and the EU agreed to remove tariffs in relation to the goods originating in the UK/EU. This means that goods exported to the EU from GB that meet the preferential rules of origin in the TCA do not incur customs duty.

HMG has and continues to provide extensive support to GB business.

Lucy Frazer
Financial Secretary (HM Treasury)
23rd Jun 2022
To ask the Chancellor of the Exchequer, what steps he is taking to ensure that goods imported from China pay appropriate import duties.

As the customs authority, HMRC works alongside Border Force to ensure that border processes are as smooth as possible, whilst targeting cross-border threats. HMRC uses a risk based and intelligence-led response focusing compliance interventions on tackling the goods and traders that represent highest risks to revenue, the UK economy and wider society, and our international reputation.

HMRC has provided support on GOV.UK to help importers understand the import procedures they need to follow and the duty they need to pay (including on goods from China).

Lucy Frazer
Financial Secretary (HM Treasury)
22nd Jun 2022
To ask the Chancellor of the Exchequer, if his Department will make an assessment of the economic impact of the RMT strikes on 21 June 2022.

HM Treasury, as part of its normal activities, carefully monitors the UK economy, and any risks to it, and remains ready to respond to challenges.

Helen Whately
Exchequer Secretary (HM Treasury)
22nd Jun 2022
To ask the Chancellor of the Exchequer, how much his Department spent on external consultants in each of the last five years.

HM Treasury’s spend on consultancy is published and available for viewing within the Annual Report and Accounts. HMT is yet to lay its accounts for 2021-22, but these are due to be published prior to the summer recess. We have included the links to the published Annual Report and Accounts for each of the available years in question within the table below.

Financial Year

Publication Link

Page Reference

2017-18

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/724104/2017-18_Final_HMT_ARA__web_.pdf

Page 84

2018-19

https://www.gov.uk/government/publications/hm-treasury-annual-report-and-accounts-2018-to-2019

Page 88

2019-20

https://www.gov.uk/government/publications/hm-treasury-annual-report-and-accounts-2019-to-2020

Page 104

2020-21

https://www.gov.uk/government/publications/hm-treasury-annual-report-and-accounts-2020-to-2021

Page 101

Helen Whately
Exchequer Secretary (HM Treasury)
27th Jun 2022
To ask the Chancellor of the Exchequer, with reference to the 5p per litre reduction in fuel duty announced on 23 March 2022, what assessment he has made of that policy’s (a) efficacy and (b) impact for consumers to date.

At Spring Statement 2022 in response to fuel prices reaching record levels, the Government announced a temporary 12-month cut to duty on petrol and diesel of 5p per litre.

This is the largest cash-terms cut across all fuel duty rates at once, ever, and is only the second time in 20 years that main rates of petrol and diesel have been cut. This cut represents savings for households and businesses worth around £2.4 billion in 2022-23.

The Government has been clear that it expects those in the supply chain to pass the fuel duty cut through to consumers as promptly as possible. Following a request from the Business Secretary, the Competition and Markets Authority will undertake a short and focused review of the fuel market and will provide advice to the Government on steps that could be taken to improve outcomes for consumers.

All taxes, including fuel duty, remain under review.

Helen Whately
Exchequer Secretary (HM Treasury)
21st Jun 2022
To ask the Chancellor of the Exchequer, when the Approved Mileage Allowance Payment rates were last reviewed; and when he next plans to review those rates in the context of high costs of road fuel.

The Approved Mileage Allowance Payment (AMAP) rates aim to reflect running costs including fuel, servicing and depreciation. Depreciation is estimated to constitute the most significant proportion of the AMAP rates. Fuel costs only contribute to a fraction of AMAP rates and not the total rate.

Employers are not required to use AMAPs. Instead, they can agree to reimburse the actual cost incurred, where individuals can provide evidence of the expenditure, without an Income Tax or National Insurance charge arising.

As with all taxes and allowances, the Government keeps AMAP rates under review and any changes are considered by the Chancellor.

Lucy Frazer
Financial Secretary (HM Treasury)
21st Jun 2022
To ask the Chancellor of the Exchequer, if he will make it his policy to classify strike payments made by unions to its members as a taxable benefit.

The tax position of these types of payments will depend on the circumstances on which they are provided and would be considered by HMRC on a case-by-case basis.

Lucy Frazer
Financial Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, what assessment his Department has made of the likelihood of VAT inflating petrol and diesel prices as retail prices increase.

Unique circumstances globally, including the war in Ukraine, have pushed pump prices up to unprecedented levels. In response to fuel prices reaching their highest ever levels, the Government announced at Spring Statement 2022 a temporary 12-month cut to duty on petrol and diesel of 5p per litre across the UK. This cut represents savings for households and businesses worth around £2.4 billion in 2022-23.

VAT has been designed as a broad-based tax on consumption, and the twenty per cent standard rate applies to the vast majority of goods and services. While there are exceptions to the standard rate, these have always been strictly limited by both legal and fiscal considerations. VAT makes a significant contribution to the public finances and, according to OBR forecasts, will have raised approximately £135 billion in 2021/22. As you will know, any reduction in tax paid is a reduction in the money available to support important public services, including the NHS and policing.

Lucy Frazer
Financial Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential merits of introducing tax rebates on VAT for key workers in respect of petrol and diesel purchases for travel to work.

In response to fuel prices reaching their highest ever levels, the Government announced at Spring Statement 2022 a temporary 12-month cut to duty on petrol and diesel of 5p per litre across the UK. This cut represents savings for households and businesses worth around £2.4 billion in 2022-23.

VAT has been designed as a broad-based tax on consumption and the twenty per cent standard rate applies to the vast majority of goods and services, including VAT on road fuel. Whilst there are exceptions to the standard rate, these have always been strictly limited by both legal and fiscal considerations.

A key principle of the VAT system is that similar supplies are subject to similar levels of VAT. The Government keeps all taxes under constant review, but there are no plans to offer VAT rebates on fuel for key workers.

Lucy Frazer
Financial Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, with reference to the oral contribution of the Financial Secretary to the Treasury of 25 May 2022, Official Report, column 168WH, what recent discussions he has had with his officials on waiving car parking charges for NHS workers; and when his Department plans to respond to the hon. Member for Barnsley Central in writing.

Throughout the pandemic, our NHS workers have gone above and beyond to protect public health and this Government has supported NHS workers in any way it can.

As part of the Government’s manifesto commitment to introduce free hospital car parking for in-need groups, NHS staff working overnight are able to access free hospital car parking and 97% of Trusts that charge for parking have implemented this commitment.

Lucy Frazer
Financial Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, if he will make it his policy to ask the pay review bodies to prioritise tackling poverty and low wages in their recommendations.

The government is providing over £15bn of additional support, to address global inflationary pressures, targeted particularly on those with the greatest need. This package builds on the over £22bn announced previously, with government support for the cost of living now totaling over £37bn this year.

Millions of the most vulnerable households will receive at least £1,200 of one-off support in total this year to help with the cost of living.

For households that are not eligible for Cost of Living Payments or for families that still need additional support; the government is providing an extra £500 million of local support, via the Household Support Fund. The Fund will be extended from this October to March 2023, bringing total funding for the scheme to £1.5 billion.

The government is also committed to tackling the underlying, long-term factors driving cost of living challenges. This includes: helping people into work and supporting them to keep more of what they earn; solidifying our supply chains and boosting our energy security; and driving economic growth through a lower tax, dynamic market economy.

On 1 April 2022, the Government increased the National Living Wage (NLW) by 6.6% to £9.50 an hour for workers aged 23+. This helps keeps us on track to meet our target, which will help make significant progress on ending low pay by 2024-25.

The April 2022 increase in the NLW represents an increase of over £1,000 to the annual earnings of a full-time worker on the National Living Wage and is expected to benefit over 2 million workers.

Pay for most frontline workforces – including nurses, teachers, armed forces and police officers - is set through an independent Pay Review Body process. The Pay Review Bodies will consider a range of evidence when forming their recommendations.

Spending Review 2021 confirmed that public sector workers will see pay rises across the whole Spending Review period (22/23-24/25).

Simon Clarke
Chief Secretary to the Treasury
24th Jun 2022
To ask the Chancellor of the Exchequer, whether he has had recent discussions with representatives of financial institutions on the level of interest rates offered to savers.

Treasury ministers and officials engage with stakeholders on a variety of issues. However, the pricing of financial products is a commercial decision for firms and the Government does not seek to intervene in such decisions.

John Glen
Economic Secretary (HM Treasury)
23rd Jun 2022
To ask the Chancellor of the Exchequer, whether his Department is taking steps to encourage the establishment of more social businesses and cooperatives.

The Government recognises the value of co-operatives. They offer a different form of running a business, with a focus on delivering the services their members and communities need. Social enterprises have an important role to play in levelling up the country. As set out in the Levelling Up White Paper (LUWP) the Government is committed to:

o supporting social organisations and entrepreneurship to flourish in left-behind places and generating evidence on what works

o building on and augmenting existing support for the sector

o encouraging the next generation of social entrepreneurs.

The Government is committed to having a thriving social businesses and co-operative sector and helping to support current and establish further businesses which serve local communities up and down the country. At Budget 2021, the Government announced the £150m Community Ownership Fund. This allows community groups, including social businesses and cooperatives, to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses. As of May 2022, 39 Projects across the UK have been announced to benefit from the fund.

The Government has provided significant support to the co-operative sector in recent years and has sought to improve the business environment for co-operatives and mutuals. The Co-operative and Community Benefit Societies Act 2014 helped cut through the legal complexity involved in running a co-operative, improving their competitiveness. The ability of co-operatives to raise £100,000 of withdrawable share capital per member, increased from £20,000 in 2014, has also ensured that co-operatives have the necessary flexibility to raise funding and compete more effectively with companies.

Data published by the FCA in May 2021 showed that there was a net increase of 108 co-operative and community benefit societies in 2020-2021, compared to a net decrease of 204 societies in 2016-2017.

Business incubators and accelerators play a crucial role in helping businesses start and grow, including social businesses and cooperatives. In 2019, BEIS published the research paper Impact of Business Incubators and Accelerators in the UK, which reported that most start-ups who used an incubator or accelerator considered them to have been significant or even vital to their success.

John Glen
Economic Secretary (HM Treasury)
23rd Jun 2022
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of a co-operative business incubator for growing the social business sector.

The Government recognises the value of co-operatives. They offer a different form of running a business, with a focus on delivering the services their members and communities need. Social enterprises have an important role to play in levelling up the country. As set out in the Levelling Up White Paper (LUWP) the Government is committed to:

o supporting social organisations and entrepreneurship to flourish in left-behind places and generating evidence on what works

o building on and augmenting existing support for the sector

o encouraging the next generation of social entrepreneurs.

The Government is committed to having a thriving social businesses and co-operative sector and helping to support current and establish further businesses which serve local communities up and down the country. At Budget 2021, the Government announced the £150m Community Ownership Fund. This allows community groups, including social businesses and cooperatives, to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses. As of May 2022, 39 Projects across the UK have been announced to benefit from the fund.

The Government has provided significant support to the co-operative sector in recent years and has sought to improve the business environment for co-operatives and mutuals. The Co-operative and Community Benefit Societies Act 2014 helped cut through the legal complexity involved in running a co-operative, improving their competitiveness. The ability of co-operatives to raise £100,000 of withdrawable share capital per member, increased from £20,000 in 2014, has also ensured that co-operatives have the necessary flexibility to raise funding and compete more effectively with companies.

Data published by the FCA in May 2021 showed that there was a net increase of 108 co-operative and community benefit societies in 2020-2021, compared to a net decrease of 204 societies in 2016-2017.

Business incubators and accelerators play a crucial role in helping businesses start and grow, including social businesses and cooperatives. In 2019, BEIS published the research paper Impact of Business Incubators and Accelerators in the UK, which reported that most start-ups who used an incubator or accelerator considered them to have been significant or even vital to their success.

John Glen
Economic Secretary (HM Treasury)
24th Jun 2022
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of providing additional financial support to those in receipt of Carers Allowance in the context of the rise in the cost of living.

The Government recognises the difficulties that carers are facing due to the rising cost of living and values the vital contribution made by carers to society. That is why millions of the most vulnerable households, including carers, will receive at least £1,200 of one-off support in total this year to help with the cost of living.  Nearly 60% of the 1 million working age Carer’s Allowance recipients receive a means-tested benefit, a disability benefit, or both and will therefore benefit from one or both of the £650 Means-Tested Benefit Cost of Living Payment and the £150 disability Cost of Living Payment. Carers with a pensioner in the household will benefit from an extra £300 Pensioner Cost of Living Payment and carers will benefit from the £400 per household universal support provided through the Energy Bills Support Scheme.

Previously announced measures to help people tackle the cost of living will also benefit carers, including cuts to the Universal Credit (UC) taper rate, cuts to fuel duty, raising the NICs threshold, council tax rebates and the rise in the National Living Wage to £9.50 an hour.

For carers that are not eligible for Cost of Living Payments or for those that need additional support, the government is providing an extra £500 million of local support, via the Household Support Fund. The Fund will be extended from this October to March 2023, bringing total funding for the scheme to £1.5 billion.

Simon Clarke
Chief Secretary to the Treasury
24th Jun 2022
To ask the Chancellor of the Exchequer, when his Department last held in-person discussions with the National Union of Rail, Maritime and Transport Workers.

The Department for Transport is responsible for the sector where most National Union of Rail, Maritime and Transport Workers are employed. The rail disputes are between individual employers and the trade unions, and it would not be prudent for Government to intervene in this relationship. Ministers encourage the unions to keep negotiating with Network Rail and the train operating companies, as the employers, to resolve this dispute. Ministers remain close to discussions that are taking place.

Helen Whately
Exchequer Secretary (HM Treasury)
21st Jun 2022
To ask the Chancellor of the Exchequer, what fiscal steps he is taking to help reduce the impact of inflation on households' cost of living.

Millions of households across the UK are struggling to make their incomes stretch to cover the rising cost of living. The government is providing over £15bn of additional support, targeted particularly on those with the greatest need. This package builds on the over £22bn announced previously, with government support for the cost of living now totalling over £37bn this year.

The government is helping all domestic electricity customers in Great Britain to cope with the impact of higher energy bills, with £400 off their bills from October through the expansion of the Energy Bills Support Scheme (EBSS). This is a doubling of the £200 of support announced in February, and there will no longer be any repayments. The government will deliver equivalent support to people in Northern Ireland.

The government is supporting over 8 million households across the UK in receipt of means tested benefits with a one-off Cost of Living Payment of £650, paid in two instalments.

The government is giving additional UK-wide support to help disabled people with the particular extra costs they will face, with 6 million people who receive non-means tested disability benefits receiving a one-off disability Cost of Living Payment of £150.

The government is also providing extra support to help all pensioners across the UK stay warm this winter. Over eight million pensioner households will receive an extra one-off £300 this year to help them cover the rising cost of energy this winter.

For households that are not eligible for Cost of Living Payments or for families that still need additional support; the government is providing an extra £500 million of local support, via the Household Support Fund. The Fund will be extended from this October to March 2023, bringing total funding for the scheme to £1.5 billion.

Millions of the most vulnerable households will receive at least £1,200 of one-off support in total this year to help with the cost of living.

The government is also committed to tackling the underlying, long-term factors driving cost of living challenges. This includes: helping people into work and supporting them to keep more of what they earn; solidifying our supply chains and boosting our energy security; and driving economic growth through a lower tax, dynamic market economy.

Simon Clarke
Chief Secretary to the Treasury
21st Jun 2022
To ask the Chancellor of the Exchequer, what plans he has to (a) mitigate and (b) tackle the impact on people's personal finances of the recent increase in the cost of living.

Millions of households across the UK are struggling to make their incomes stretch to cover the rising cost of living. The government is providing over £15bn of additional support, targeted particularly on those with the greatest need. This package builds on the over £22bn announced previously, with government support for the cost of living now totalling over £37bn this year.

The government is helping all domestic electricity customers in Great Britain to cope with the impact of higher energy bills, with £400 off their bills from October through the expansion of the Energy Bills Support Scheme (EBSS). This is a doubling of the £200 of support announced in February, and there will no longer be any repayments. The government will deliver equivalent support to people in Northern Ireland.

The government is supporting over 8 million households across the UK in receipt of means tested benefits with a one-off Cost of Living Payment of £650, paid in two instalments.

The government is giving additional UK-wide support to help disabled people with the particular extra costs they will face, with 6 million people who receive non-means tested disability benefits receiving a one-off disability Cost of Living Payment of £150.

The government is also providing extra support to help all pensioners across the UK stay warm this winter. Over eight million pensioner households will receive an extra one-off £300 this year to help them cover the rising cost of energy this winter.

For households that are not eligible for Cost of Living Payments or for families that still need additional support; the government is providing an extra £500 million of local support, via the Household Support Fund. The Fund will be extended from this October to March 2023, bringing total funding for the scheme to £1.5 billion.

Millions of the most vulnerable households will receive at least £1,200 of one-off support in total this year to help with the cost of living.

The government is also committed to tackling the underlying, long-term factors driving cost of living challenges. This includes: helping people into work and supporting them to keep more of what they earn; solidifying our supply chains and boosting our energy security; and driving economic growth through a lower tax, dynamic market economy.

Simon Clarke
Chief Secretary to the Treasury
21st Jun 2022
To ask the Chancellor of the Exchequer, what recent steps he has taken to help ensure value for money in public spending.

Spending Review 2021 placed a renewed emphasis on ensuring that every pound of taxpayers’ money is spent well and focused on the areas that make the most difference to people’s daily lives. The government set clear outcomes for what spending will buy; ensured that all decisions are informed by the best quality evidence; encouraged joint working between departments; and took further action to drive out low value or inefficient spend.

At the Spring Statement, the government also set out plans to tackle waste and inefficiency across the public sector through a comprehensive efficiency agenda. This includes a new Public Sector Fraud Authority that will tackle fraud and a further £12 million investment in HMRC to help prevent error and fraud in tax credits. Work on ensuring value for money is being driven by the Chancellor-chaired Committee on Efficiency and Value for Money.

Simon Clarke
Chief Secretary to the Treasury
21st Jun 2022
To ask the Chancellor of the Exchequer, what steps his Department plans to take to ensure that workers are adequately remunerated in the context of the recent increase in the cost of living.

On 1 April 2022, the Government increased the National Living Wage by 6.6% to £9.50 an hour for workers aged 23+. This helps keeps us on track to meet our target to end low pay by 2024-25.

The April 2022 increase in the National Living Wage represents an increase of over £1,000 to the annual earnings of a full-time worker on the National Living Wage and is expected to benefit over 2 million workers.

We are also delivering a significant tax cut for low-income families by reducing the Universal Credit taper rate from 63p to 55p, and increasing Universal Credit work allowances by £500 p.a. This is essentially a tax cut for the lowest paid in society worth £2.2bn next year and means that around 2m families will save an extra £1,000 a year on average.

Simon Clarke
Chief Secretary to the Treasury
28th Jun 2022
To ask the Chancellor of the Exchequer, what plans the Government has to implement the findings of the fundamental review of business rates.

Following the review of business rates the government announced measures worth £7 billion for businesses over the next 5 years.

We have already started implementing the findings from the review, by freezing the multiplier in 2022/23, introducing a 50 per cent retail relief, and introducing new plant and machinery and heat networks reliefs.

Other reforms, including the new improvement relief, will be implemented from April 2023.

Lucy Frazer
Financial Secretary (HM Treasury)
28th Jun 2022
To ask the Chancellor of the Exchequer, what discussions his Department has had with (a) Cabinet colleagues and (b) stakeholders on the potential merits of a windfall tax on electricity generators.

On 26th May, the Chancellor announced that the Government was urgently evaluating the scale of extraordinary profits in the energy generation sector and the appropriate next steps.

As part of this process, officials have been engaging with industry stakeholders to gather evidence on energy generators’ level of profitability and the operation of their business models.

Lucy Frazer
Financial Secretary (HM Treasury)
28th Jun 2022
To ask the Chancellor of the Exchequer, what recent steps he has taken to ensure fairness in the application of the tax system.

At Spring Statement, we equalised the National Insurance and income tax starting thresholds.

Our work towards OECD Pillar 1 & 2 reforms will help to ensure multinational businesses pay their fair share.

The government is committed to tackling avoidance and evasion to ensure that everyone pays the right amount of tax at the right time.

Lucy Frazer
Financial Secretary (HM Treasury)
28th Jun 2022
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential impact of the energy profits levy on investor confidence in the North Sea energy sector.

The Energy Profits Levy is a temporary measure, the revenues from which will help to provide vital support for households facing cost of living pressures.

The government expects the combination of the Levy and its investment allowance to lead to an overall increase in investment.

Lucy Frazer
Financial Secretary (HM Treasury)
20th Jun 2022
To ask Her Majesty's Government whether they funded the return charter flight for the Duke of Sussex from the United States to the UK for the Queen's Jubilee celebrations.

No public money was used for the charter flight for the Duke of Sussex from the United States to the UK.

The Government provides financial support to the Queen known as the Sovereign Grant, to fund The Queen's official duties and maintain the Occupied Royal Palaces. Funding from the Sovereign Grant only covers expenses incurred by other Members of the Royal Family when they undertake official duties on behalf of Her Majesty.
Baroness Penn
Baroness in Waiting (HM Household) (Whip)
20th Jun 2022
To ask Her Majesty's Government what steps they are taking to monitor the sale of Truphone to ensure that it does not undermine (1) the UK's sanctions relating to Russia, or (2) the UK's national security.

Truphone Limited are not currently subject to financial sanctions.

Financial sanctions restrictions apply to any entity that is itself designated, or is owned or controlled directly or indirectly by a designated person. This includes where that person holds (directly or indirectly) more than 50% of the shares or voting rights in an entity, has the right (directly or indirectly) to appoint or remove a majority of the board of directors of the entity, or it is reasonable to expect that the person would be able to ensure the affairs of the entity are conducted in accordance with the person’s wishes.

If any sanctioned individuals are due to receive funds as a result of the sale of a company which is not subject to financial sanctions restrictions, any funds they receive from a UK company or into a UK bank account will need to be frozen. A licence from the Office of Financial Sanctions Implementation (OFSI) in HM Treasury would then be needed for any onward movement of such funds, otherwise breaches of financial sanctions restrictions may occur. Any suspected breach of financial sanctions should be reported to OFSI.

OFSI is the competent authority for implementing and enforcing the UK’s financial sanctions. The maintenance of national security is a cross-departmental effort and any activity to monitor and intervene in matters of national security may be undertaken by departments other than HMT.

Baroness Penn
Baroness in Waiting (HM Household) (Whip)