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.
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
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: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.
HM Treasury does not have Bills currently before Parliament
A Bill to authorise the use of resources for the year ending with 31 March 2027; 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 2026.
This Bill received Royal Assent on 15th July 2026 and was enacted into law.
A Bill to Increase the rate of electricity generator levy and mileage amounts relating to income tax and to provide for temporary rates of vehicle excise duty for goods vehicles.
This Bill received Royal Assent on 15th July 2026 and was enacted into law.
A Bill to Make provision to amend section 4 of the Social Security Contributions and Benefits Act 1992, and section 4 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992, so that amounts of salary sacrificed for employer pensions contributions pursuant to optional remuneration arrangements are liable to national insurance contributions.
This Bill received Royal Assent on 29th April 2026 and was enacted into law.
A Bill to make provision in connection with finance.
This Bill received Royal Assent on 18th March 2026 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and 31 March 2027; 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 2025 and 31 March 2026.
This Bill received Royal Assent on 18th March 2026 and was enacted into law.
A Bill to Authorise the use of resources for the year ending with 31 March 2026; 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 2025.
This Bill received Royal Assent on 21st July 2025 and was enacted into law.
A Bill to make provision about secondary Class 1 contributions.
This Bill received Royal Assent on 3rd April 2025 and was enacted into law.
A Bill to make provision about finance.
This Bill received Royal Assent on 20th March 2025 and was enacted into law.
A Bill to amend the Crown Estate Act 1961.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.
This Bill received Royal Assent on 16th January 2025 and was enacted into law.
A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.
This Bill received Royal Assent on 10th September 2024 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.
This Bill received Royal Assent on 30th July 2024 and was enacted into law.
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).
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.
Introduce new tax code for state pensioners with double the personal allowance
Gov Responded - 9 Dec 2025We want the government to introduce a new tax code for state pensioners, set at double the basic threshold. If this was implemented, pensioners would receive a higher tax-exempt limit, but wealthier pensioners would still pay tax.
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.
As announced on 17 December 2025, the UK has agreed to join the Erasmus+ programme in 2027 at a 30% discount compared to the default terms of the Trade and Cooperation Agreement (TCA). This will require a payment of c. £570m. The UK’s existing financial obligations to the EU under the Withdrawal Agreement and the TCA are unchanged. The Government will continue to assess the financial implications of any further commitments as the relevant arrangements are negotiated and implemented.
Financial information explicitly recording Communications and Advertising expenditure is not held centrally within OSCAR. OSCAR records Marketing expenditure against the Chart of Accounts code "EXP - PURCHASE OF GOODS/SERVICES - MARKETING & MEDIA".
There are no separate expenditure codes specifically attributed to Communications or Advertising activity; however, departments may include these items of spend within this aggregate account on OSCAR.
Individual departments may hold more detailed information on expenditure recorded against this code, or the specific items of expenditure being enquired about, within their own finance systems.
The most recent OSCAR data are published as part of the OSCAR annual release: November 2025 - GOV.UK, which can be accessed online.
362 active staff, as of March 2026, are assigned to work at the Darlington Economic Campus. The campus operates a shared workspace model and HM Treasury's apportioned allocation is 105 desks and 133 workspaces.
HM Treasury's office attendance policy applies across all office locations. Employees are expected to spend a minimum of 60% of their working time in their contractual workplace, unless alternative arrangements have been agreed through workplace adjustments
362 active staff, as of March 2026, are assigned to work at the Darlington Economic Campus.
HM Treasury's office attendance policy applies across all office locations. Employees are expected to spend a minimum of 60% of their working time in their contractual workplace, unless alternative arrangements have been agreed through workplace adjustments.
The UK has led the way on international tax reforms to ensure that large multinational enterprises pay their fair share of tax on profits arising from their UK activities. This includes fully implementing the actions agreed through the OECD/G20 Base Erosion and Profit Shifting project, and being at the forefront of development and implementation of the Global Minimum Corporate Tax. These reforms have strengthened the international tax framework and reduced opportunities for multinational groups to shift profits artificially. The UK already requires multinational groups to provide country-by-country reports to HMRC, publishes aggregated country-level data, has public reporting requirements in certain sectors and robust wider reporting requirements. The Government believes that any action on public country-by-country reporting should be coordinated internationally to ensure a consistent and comprehensive approach and to minimise the risk of competitive distortions.
HM Treasury occupies accommodation at the Government Offices Great George Street, which is managed by the Government Property Agency (GPA). Decisions relating to the procurement of furniture for shared areas are a matter for the GPA.
The UK Emissions Trading Scheme (UK ETS) is our key lever to ensure those companies who are responsible for carbon emissions pay for them.
Introduced in January 2021, the UK ETS covers 25% of UK emissions across the power sector, energy-intensive industry, domestic and UK–EEA flights, and domestic maritime.
Revenues from the scheme accrue to the consolidated fund and support spending on government priorities, which includes net zero objectives.
The Valuation Office is working towards its target of clearing 90% of Council Tax Maintenance cases within 90 working days by March 2027.
A new case management system has been implemented to help improve the timelines of domestic property cases.
The ‘rent-a-chair’ model is a legitimate business model used in the hair and beauty sector. Where it is applied correctly, individuals will be self-employed for tax purposes. Whether an individual is employed or self-employed is not a matter of choice but is determined by the actual terms and conditions under which they work. HMRC has published GOV.UK guidance and YouTube videos on tax obligations specific to this sector to enhance understanding and enable businesses to comply with their tax obligations. The latest guidance was published in May 2025; this included the Check Employment Status for Tax tool (CEST).
The Valuation Office (VO) carries out property inspections to establish and record facts relating to property on a case by case basis. The same categories of property attribute information are collected for Council Tax purposes in England and Wales. Further information about the property attribute information held for Council Tax purposes is available in the published guidance: Property attribute data (PAD). Additional information may be sought from the taxpayer in line with section 27 of the Local Government Finance Act 1992.
I refer the Honourable Member to UIN 28908.
I refer the Honourable Member to UIN 28908.
The Government has introduced permanently lower multipliers for eligible retail, hospitality and leisure (RHL) properties. Local Authorities determine whether a hereditament meets the legislative definition of Retail, Hospitality or Leisure (RHL) and therefore qualifies for the RHL multiplier.
Full details of eligibility for the new multipliers are set out in the relevant statutory instrument (SI), which can be found online here: https://www.legislation.gov.uk/uksi/2025/1093/contents/ made with guidance to support in interpreting the SI found here: https://www.gov.uk/guidance/business-rates-multipliers-qualifying-retail-hospitality-or-leisure.
The Government recognises that pubs, social clubs and live music venues have faced significant pressures in recent years. Earlier this year, the Government cut every pub, social club and live music venues bill by 15 per cent and ensured bills will be frozen in real terms for a further two years.
The Government is now going further by introducing an additional 20 per cent cut for pubs, social clubs, and all but the very largest live music venues, building on the support already in place.
Further decisions on wider business rates reforms will be set out in the normal way at the Budget.
Under UK VAT law, VAT is charged on the full amount paid by a customer for the goods or services they are purchasing. Therefore, where an overnight visitor levy forms part of the consideration paid for accommodation, VAT is charged on the total amount paid, including the levy.
The Prime Minister established No10 North on the first day of the new administration, including the transfer of local economic growth and devolution strategy from the Ministry of Housing, Communities and Local Government and local economic growth policy from HM Treasury, with these arrangements confirmed in a statement published on 22 July.
Vehicle Excise Duty for motorcycles is currently based on engine size. There are four engine size ranges, with the lowest rate applying to zero emission motorcycles and the smallest engines sized 150cc or less (currently £27 per year), and the highest rate applying to engines sized 600cc and above (currently £125 per year).
Historically, engine capacity-based rates have offered the most practical and easy-to-understand way to reflect the respective emissions levels of motorcycles. 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.
This evaluation examines tax reliefs relevant to housebuilding. It aims to:
Following a competitive tendering exercise, the contract to conduct this research project was awarded to Verian. A report on the findings will be published in due course.
The Bank of England has operational independence from the government to carry out its statutory responsibilities for monetary policy and financial stability. Monetary policy, including the pace of quantitative easing and quantitative tightening, is the responsibility of the independent Monetary Policy Committee at the Bank of England. The Government does not comment on monetary policy decisions.
The Office for Budget Responsibility (OBR) forecasts debt interest costs as part of the fiscal forecasts in its Economic and Fiscal Outlook.
Since October 2022, HM Treasury has transferred £110.72bn to the Bank of England to cover losses arising from the indemnity of the Asset Purchase Facility, the vehicle used to implement quantitative easing. This covers losses incurred from net interest costs and the sale and redemption of bonds as the portfolio is unwound. Since 2013, the Bank of England has transferred £123.85bn to HM Treasury, giving HM Treasury a net position of £13.13bn to date.
Data on these cash transfers between HM Treasury and the Bank of England are made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication.
HM Revenue and Customs (HMRC) published analysis of intra-UK migration and labour market participation in April 2024 and subsequently updated its analysis of intra-UK migration in 2026. These analyses use HMRC administrative data to examine movements of taxpayers and taxable income between Scotland, Wales and the rest of the UK over time, and they provide information on movements in the Scottish and wider UK tax base associated with intra-UK migration.
The Bank of England has operational independence from the government to carry out its statutory responsibilities for monetary policy and financial stability. Monetary policy, including the pace of quantitative easing and quantitative tightening, is the responsibility of the independent Monetary Policy Committee at the Bank of England. The Government does not comment on monetary policy decisions.
The Office for Budget Responsibility (OBR) forecasts debt interest costs as part of the fiscal forecasts in its Economic and Fiscal Outlook.
Since October 2022, HM Treasury has transferred £110.72bn to the Bank of England to cover losses arising from the indemnity of the Asset Purchase Facility, the vehicle used to implement quantitative easing. This covers losses incurred from net interest costs and the sale and redemption of bonds as the portfolio is unwound. Since 2013, the Bank of England has transferred £123.85bn to HM Treasury, giving HM Treasury a net position of £13.13bn to date.
Data on these cash transfers between HM Treasury and the Bank of England are made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication.
The High Value Council Tax Surcharge will be legislated for in Finance Bill 2026 and subject to Parliamentary approval in the normal way.
According to the most recently published figures in the HM Treasury Annual Report and Accounts for 2025-26, there were 14.1% of staff from a lower socio-economic background, defined in the report by parental occupation (160 routine and manual occupations, 147 intermediate occupations).
The High Value Council Tax Surcharge is a new charge on owners of residential property in England worth £2m or more.
The Government consulted on a proposed list of discounts and exemptions. and a response to the consultation will be published in due course.
The Model Specification Document is published on gov.uk here https://assets.publishing.service.gov.uk/media/67e6a9a08ac59d1882eaddf5/Model_specification_document.pdf
This sets out datasets used for data collection and sales verification under the heading Updating VOA Records on page 2.
The Chancellor makes decisions on tax policy at fiscal events, and does not routinely comment on proposals.
The Department for Health and Social Care (DHSC) is responsible for funding decisions relating to local and community healthcare.
Over 110,000 defibrillators are registered in the United Kingdom on The Circuit, the independent AED database.
A key consideration for any potential new VAT relief is whether savings would be passed on to the consumer, in this case by makers and suppliers of AEDs. Evidence suggest that businesses only partially pass on any savings from lower VAT rates.
The 20 per cent relief announced in July will be available for all pubs, social clubs and all but the very largest live music venues.
The scope of the 20 per cent relief will broadly mirror the scope of the existing 15 per cent relief. [1]
Eligible social clubs must be open to the general public and permit drinks to be purchased at a bar. Social clubs include working men's clubs, ex-servicemen's clubs and other community membership clubs that are open to broad sections of the local community.
The 20 per cent relief will be awarded at the discretion of Local Authorities, who will determine eligibility using guidance published by the Government and based on existing definitions.
The Government will set out further details of the relief, including the treatment of the very largest venues, at the Budget.
[1] https://www.gov.uk/government/news/pubs-and-live-music-venues-relief
The 20 per cent relief announced in July will be available for all pubs, social clubs and all but the very largest live music venues.
The scope of the 20 per cent relief will broadly mirror the scope of the existing 15 per cent relief. [1]
Eligible social clubs must be open to the general public and permit drinks to be purchased at a bar. Social clubs include working men's clubs, ex-servicemen's clubs and other community membership clubs that are open to broad sections of the local community.
The 20 per cent relief will be awarded at the discretion of Local Authorities, who will determine eligibility using guidance published by the Government and based on existing definitions.
The Government will set out further details of the relief, including the treatment of the very largest venues, at the Budget.
[1] https://www.gov.uk/government/news/pubs-and-live-music-venues-relief
The Office for National statistics publishes a series of official statistics on country and regional public sector finances. The publication presents statistical estimates for the allocation of public sector revenue for each country and region of the UK, which includes figures for London and the South East.
The Chancellor makes decisions on tax policy at fiscal events, and does not routinely comment on proposals.
HM Revenue and Customs has spent the following amounts on the Trader Support Service in each financial year since its establishment:
HM Treasury's definition of diverse ethnic background includes ethnicities in the following categories: Mixed / Multiple ethnic groups, Asian/Asian British, Black/African/Caribbean/Black British, and Other ethnic groups, as defined in the Government Statistical Service's (GSS) Harmonised Standards.
The GSS does not define a formal category of "diverse ethnic background"; ethnicity is a self-reported characteristic based on the standard ethnic group classifications. Under the GSS standard, White Irish and White Travellers falls within the White ethnic group.
The Government is committed to making the aspiration of home ownership a reality for as many people as possible and recognises that the Lifetime ISA (LISA) is not working for everyone. Its dual purpose of supporting both home ownership and retirement saving can create complexity for savers.
The Government therefore consulted on a simpler, first-time-buyer focused ISA product. The consultation closed on 18 August, and we are carefully considering the responses received.
Until the new product is offered it will remain possible to open a LISA. Existing LISA holders, including those currently using the LISA for retirement, will continue to be able to use their accounts in line with the existing rules.
Savers, including the self-employed, will continue to benefit from generous tax relief on pensions savings via workplace and self-invested pensions.
Billing Authorities provide information to HMRC Valuation Office to support the maintenance of the non-domestic rating list. Some Billing Authorities may indicate whether a property was vacant at the time the information was provided. However, HMRC Valuation Office does not routinely collect data on when properties become vacant or how long they remain vacant.
We have introduced powers for high street rental auctions to help fill long-term vacant properties. Through regular engagement with local authorities, we are aware of more than 40 councils that have either implemented or are actively preparing to use HSRAs.
The Government recognises that there are costs associated with implementing the powers and is currently gathering evidence from local authorities to review the HSRA new burdens payments. Through this engagement, councils have highlighted additional costs associated with identifying suitable vacant premises and refurbishment of long-term vacant premises. To that end, the Government has announced a £10 million funding package to support HSRA implementation. Further details will be made available in due course.
It is not routine to disclose correspondence between Ministers or Permanent Secretaries and any individual or organisation.
The Government is aware some European countries apply different VAT rates to certain goods and services, reflecting different tax systems, policy choices and wider fiscal contexts.
At £90,000, the UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD. This means the majority of UK businesses are not in the VAT system at all.
The Government recognises the important role that employers play in providing young people with their first step into work. Businesses can therefore claim employer National Insurance contributions reliefs for employees under 21 and apprentices under 25, meaning no employer NICs are paid on their earnings up to £50,270.
HMRC published an evaluation of these measures in October 2023. It found that they reduce employment costs for employers and identified some evidence of a positive impact on youth employment, while noting that recruitment decisions are influenced by wider factors.
The Government has also announced £2.5 billion of investment in the Youth Guarantee and the Growth and Skills Levy over the next three years, supporting almost one million young people and helping to deliver up to 500,000 opportunities to earn or learn.
HMRC has a statutory duty of confidentiality to protect information held about taxpayers. HMRC's ability to disclose taxpayer information is restricted by the Commissioners for Revenue and Customs Act 2005 (CRCA).
The information requested relates to named organisations and is therefore taxpayer information protected by the CRCA. As such, HMRC is unable to disclose the employer National Insurance contributions paid by these organisations.
HMRC has a statutory duty of confidentiality to protect information held about taxpayers. HMRC's ability to disclose taxpayer information is restricted by the Commissioners for Revenue and Customs Act 2005 (CRCA).
The information requested relates to named organisations and is therefore taxpayer information protected by the CRCA. As such, HMRC is unable to disclose the employer National Insurance contributions paid by these organisations.
HMRC has a statutory duty of confidentiality to protect information held about taxpayers. HMRC's ability to disclose taxpayer information is restricted by the Commissioners for Revenue and Customs Act 2005 (CRCA).
The information requested relates to named organisations and is therefore taxpayer information protected by the CRCA. As such, HMRC is unable to disclose the employer National Insurance contributions paid by these organisations.
To support households with the cost of living, the Government is removing VAT from electricity bills this winter. Around 29 million households across the UK are expected to benefit from this change.
The new zero VAT rate for domestic electricity will replace the existing reduced VAT rate (5%). Anyone currently benefiting from the reduced rate will benefit from the new zero rate.
Some park home residents purchase their electricity from the park home site owner rather than directly from a licensed energy supplier. Where electricity is not individually metered and charged based on actual consumption, the electricity supply may be treated as part of the pitch fee and can therefore be subject to the same VAT treatment as that charge.
However, park home residents are protected from excessive charges by Ofgem's Maximum Resale Price provisions. These provisions prevent site owners from reselling energy at a higher price than they paid to the licensed supplier. Consumers are also entitled to request a breakdown of the site owner's costs, including electricity and/or gas charges, standing charges and VAT paid.
Consumers who consider they have been overcharged can claim against the reseller through the courts or tribunal services if their dispute cannot be resolved through negotiation. Such consumers can seek advice through this process from consumer protection bodies such as Citizens Advice.
To support households with the cost of living, the Government is removing VAT from electricity bills this winter. Around 29 million households across the UK are expected to benefit from this change.
The new zero VAT rate for domestic electricity will replace the existing reduced VAT rate (5%). Anyone currently benefiting from the reduced rate will benefit from the new zero rate.
Some park home residents purchase their electricity from the park home site owner rather than directly from a licensed energy supplier. Where electricity is not individually metered and charged based on actual consumption, the electricity supply may be treated as part of the pitch fee and can therefore be subject to the same VAT treatment as that charge.
However, park home residents are protected from excessive charges by Ofgem's Maximum Resale Price provisions. These provisions prevent site owners from reselling energy at a higher price than they paid to the licensed supplier. Consumers are also entitled to request a breakdown of the site owner's costs, including electricity and/or gas charges, standing charges and VAT paid.
Consumers who consider they have been overcharged can claim against the reseller through the courts or tribunal services if their dispute cannot be resolved through negotiation. Such consumers can seek advice through this process from consumer protection bodies such as Citizens Advice.
To support households with the cost of living, the Government is removing VAT from electricity bills this winter. Around 29 million households across the UK are expected to benefit from this change.
The new zero VAT rate for domestic electricity will replace the existing reduced VAT rate (5%). Anyone currently benefiting from the reduced rate will benefit from the new zero rate.
Some park home residents purchase their electricity from the park home site owner rather than directly from a licensed energy supplier. Where electricity is not individually metered and charged based on actual consumption, the electricity supply may be treated as part of the pitch fee and can therefore be subject to the same VAT treatment as that charge.
However, park home residents are protected from excessive charges by Ofgem's Maximum Resale Price provisions. These provisions prevent site owners from reselling energy at a higher price than they paid to the licensed supplier. Consumers are also entitled to request a breakdown of the site owner's costs, including electricity and/or gas charges, standing charges and VAT paid.
Consumers who consider they have been overcharged can claim against the reseller through the courts or tribunal services if their dispute cannot be resolved through negotiation. Such consumers can seek advice through this process from consumer protection bodies such as Citizens Advice.
To support households with the cost of living, the Government is removing VAT from electricity bills this winter. Around 29 million households across the UK are expected to benefit from this change.
The new zero VAT rate for domestic electricity will replace the existing reduced VAT rate (5%). Anyone currently benefiting from the reduced rate will benefit from the new zero rate.
Some park home residents purchase their electricity from the park home site owner rather than directly from a licensed energy supplier. Where electricity is not individually metered and charged based on actual consumption, the electricity supply may be treated as part of the pitch fee and can therefore be subject to the same VAT treatment as that charge.
However, park home residents are protected from excessive charges by Ofgem's Maximum Resale Price provisions. These provisions prevent site owners from reselling energy at a higher price than they paid to the licensed supplier. Consumers are also entitled to request a breakdown of the site owner's costs, including electricity and/or gas charges, standing charges and VAT paid.
Consumers who consider they have been overcharged can claim against the reseller through the courts or tribunal services if their dispute cannot be resolved through negotiation. Such consumers can seek advice through this process from consumer protection bodies such as Citizens Advice.
In 2010 the coalition government chose to allocate up to £1.5 billion to the Equitable Life Payment Scheme. Before it ceased operations in 2016, the Scheme had issued £1.12 billion in tax-free payments to nearly 933,000 policyholders.
As the Scheme has been fully wound down and closed since 2016, it is no longer possible to make a claim. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants.
There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.