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.
Shadow Ministers / Spokeperson
Liberal Democrat
Baroness Kramer (LD - Life peer)Liberal Democrat Lords Spokesperson (Treasury and Economy)
Daisy Cooper (LD - St Albans)
Liberal Democrat Spokesperson (Treasury)
Conservative
Mel Stride (Con - Central Devon)Shadow Chancellor of the Exchequer
Green Party
Adrian Ramsay (Green - Waveney Valley)Green Spokesperson (Treasury)
Liberal Democrat
Charlie Maynard (LD - Witney)Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
05:00
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
To ask the Chancellor of the Exchequer, her Department was invited by the Office for National Statistics to provide evidence …
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and …
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.
Bills currently before Parliament
HM Treasury does not have Bills currently before Parliament
Acts of Parliament created in the 2024 Parliament
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.
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).
(1,731 in the last 7 days)
(1,431 in the last 7 days)
(1,113 in the last 7 days)
(341 in the last 7 days)
(127 in the last 7 days)
(1,431 in the last 7 days)
(61 in the last 7 days)
(31 in the last 7 days)
(1,113 in the last 7 days)
(1,731 in the last 7 days)
Petition Closed
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025closed 8 months, 2 weeks ago
Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.
Petition Closed
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025closed 9 months, 3 weeks ago
We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.
Petition Closed
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025closed 9 months, 1 week ago
Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
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
Treasury Committee Member since 9th September 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 9th December 2024
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee: Upcoming Events
Spring Statement 2026
10 Mar 2026, 2 p.m.
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Spring Statement 2026
11 Mar 2026, 9:30 a.m.
View calendar - Save to Calendar
Treasury Committee: 14 Current Inquiries
Treasury Committee: Previous Inquiries
50 most recent Written Questions
(View all written questions)The Government has committed a record level of funding for local authorities to repair, renew and fix potholes; totalling over £2 billion annually by 2029-30. This is double the amount provided by the previous government – and it ensures that we will exceed our manifesto commitment to fix an additional 1 million potholes in each year of this Parliament.
Chief Secretary to the Treasury
The Government has committed a record level of funding for local authorities to repair, renew and fix potholes; totalling over £2 billion annually by 2029-30. This is double the amount provided by the previous government – and it ensures that we will exceed our manifesto commitment to fix an additional 1 million potholes in each year of this Parliament.
Chief Secretary to the Treasury
A review of the harmonised standard for ethnicity data collection is underway by the Government Statistical Service Harmonisation team.
A public consultation between October 2025 and February 2026 sought views from a wide range of users, including Government Departments and public bodies, to understand user needs for ethnic group data. This was supplemented by a programme of engagement activity, including with representatives of all government departments.
ONS have committed to providing an initial response to the public consultation in April, and a full report on the consultation in late summer 2026 will include more detailed information on the departments that responded to the consultation.
Parliamentary Secretary (HM Treasury)
The government is restoring stability, increasing investment, and reforming the economy to drive growth across every region of the UK.
Norfolk will receive £32.5 million in Local Transport Grant funding enabling local authorities to deliver transport improvements including more zero emission buses, cycleways, accessibility and congestion improvement measures.
The record breaking results of our most recent offshore wind auction will support projects in the region, delivering further local jobs and growth.
Parliamentary Secretary (HM Treasury)
Making Tax Digital (MTD) for Income Tax helps taxpayers pay the right amount of tax. It is expected to generate almost £1 billion in additional tax revenue in 2030–31 by encouraging timely and accurate record keeping and reducing that part of the tax gap caused by taxpayer errors and failure to take reasonable care.
HMRC is committed to closing the tax gap further and tackling other types of non-compliance such as tax evasion, tax avoidance, criminal attacks, hidden economy activity, legal interpretation issues, and non-payment.
Financial Secretary (HM Treasury)
Marriage Allowance allows a spouse or civil partner to transfer ten per cent of their income tax personal allowance, as long as the partner is not paying tax at higher rates.
The most recent estimates for the cost and uptake of Marriage Allowance can be found in HMRC’s published tax relief statistics, last updated in January 2026. This is available at the following link: https://www.gov.uk/government/statistics/tax-reliefs/tax-relief-statistics-january-2026.
The number of Marriage Allowance claimants was estimated at 2,440,000 for the 2023-2024 tax year and the estimated cost is projected to be £590 million for the 2025-2026 tax year. Estimates of the number of claimants are the latest available and reflect only successful claimants up to that point in time and not the anticipated full take up when all backdated claims have been made in future tax years (up to 4 years later).
Data for previous tax years (up to 6 years) on the cost and uptake of Marriage Allowance can be found in the non-structural tax relief statistics, which is available at the following link https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs/non-structural-tax-relief-statistics-december-2024. This is summarised below.
Tax Year | Cost (£ million) | Number of Claimants |
2019–2020 | 520 | 2,020,000 |
2020–2021 | 560 | 2,170,000 |
2021–2022 | 560 | 2,280,000 |
2022–2023 | 580 | 2,350,000 |
2023–2024 (estimated) | 580 | 2,440,000 |
2024–2025 (estimated) | 580 | Not stated |
HMRC does not produce household-level analysis for Marriage Allowance eligibility.
HMRC’s ongoing communications campaign for Marriage Allowance seeks to raise awareness of the eligibility criteria for the allowance, encourage take-up and educate customers on how to claim. It consists of regular promotional activity throughout the year bolstered by paid-for activity at key times of increased interest or engagement in the allowance for customers.
Financial Secretary (HM Treasury)
Marriage Allowance allows a spouse or civil partner to transfer ten per cent of their income tax personal allowance, as long as the partner is not paying tax at higher rates.
The most recent estimates for the cost and uptake of Marriage Allowance can be found in HMRC’s published tax relief statistics, last updated in January 2026. This is available at the following link: https://www.gov.uk/government/statistics/tax-reliefs/tax-relief-statistics-january-2026.
The number of Marriage Allowance claimants was estimated at 2,440,000 for the 2023-2024 tax year and the estimated cost is projected to be £590 million for the 2025-2026 tax year. Estimates of the number of claimants are the latest available and reflect only successful claimants up to that point in time and not the anticipated full take up when all backdated claims have been made in future tax years (up to 4 years later).
Data for previous tax years (up to 6 years) on the cost and uptake of Marriage Allowance can be found in the non-structural tax relief statistics, which is available at the following link https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs/non-structural-tax-relief-statistics-december-2024. This is summarised below.
Tax Year | Cost (£ million) | Number of Claimants |
2019–2020 | 520 | 2,020,000 |
2020–2021 | 560 | 2,170,000 |
2021–2022 | 560 | 2,280,000 |
2022–2023 | 580 | 2,350,000 |
2023–2024 (estimated) | 580 | 2,440,000 |
2024–2025 (estimated) | 580 | Not stated |
HMRC does not produce household-level analysis for Marriage Allowance eligibility.
HMRC’s ongoing communications campaign for Marriage Allowance seeks to raise awareness of the eligibility criteria for the allowance, encourage take-up and educate customers on how to claim. It consists of regular promotional activity throughout the year bolstered by paid-for activity at key times of increased interest or engagement in the allowance for customers.
Financial Secretary (HM Treasury)
Marriage Allowance allows a spouse or civil partner to transfer ten per cent of their income tax personal allowance, as long as the partner is not paying tax at higher rates.
The most recent estimates for the cost and uptake of Marriage Allowance can be found in HMRC’s published tax relief statistics, last updated in January 2026. This is available at the following link: https://www.gov.uk/government/statistics/tax-reliefs/tax-relief-statistics-january-2026.
The number of Marriage Allowance claimants was estimated at 2,440,000 for the 2023-2024 tax year and the estimated cost is projected to be £590 million for the 2025-2026 tax year. Estimates of the number of claimants are the latest available and reflect only successful claimants up to that point in time and not the anticipated full take up when all backdated claims have been made in future tax years (up to 4 years later).
Data for previous tax years (up to 6 years) on the cost and uptake of Marriage Allowance can be found in the non-structural tax relief statistics, which is available at the following link https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs/non-structural-tax-relief-statistics-december-2024. This is summarised below.
Tax Year | Cost (£ million) | Number of Claimants |
2019–2020 | 520 | 2,020,000 |
2020–2021 | 560 | 2,170,000 |
2021–2022 | 560 | 2,280,000 |
2022–2023 | 580 | 2,350,000 |
2023–2024 (estimated) | 580 | 2,440,000 |
2024–2025 (estimated) | 580 | Not stated |
HMRC does not produce household-level analysis for Marriage Allowance eligibility.
HMRC’s ongoing communications campaign for Marriage Allowance seeks to raise awareness of the eligibility criteria for the allowance, encourage take-up and educate customers on how to claim. It consists of regular promotional activity throughout the year bolstered by paid-for activity at key times of increased interest or engagement in the allowance for customers.
Financial Secretary (HM Treasury)
Marriage Allowance allows a spouse or civil partner to transfer ten per cent of their income tax personal allowance, as long as the partner is not paying tax at higher rates.
The most recent estimates for the cost and uptake of Marriage Allowance can be found in HMRC’s published tax relief statistics, last updated in January 2026. This is available at the following link: https://www.gov.uk/government/statistics/tax-reliefs/tax-relief-statistics-january-2026.
The number of Marriage Allowance claimants was estimated at 2,440,000 for the 2023-2024 tax year and the estimated cost is projected to be £590 million for the 2025-2026 tax year. Estimates of the number of claimants are the latest available and reflect only successful claimants up to that point in time and not the anticipated full take up when all backdated claims have been made in future tax years (up to 4 years later).
Data for previous tax years (up to 6 years) on the cost and uptake of Marriage Allowance can be found in the non-structural tax relief statistics, which is available at the following link https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs/non-structural-tax-relief-statistics-december-2024. This is summarised below.
Tax Year | Cost (£ million) | Number of Claimants |
2019–2020 | 520 | 2,020,000 |
2020–2021 | 560 | 2,170,000 |
2021–2022 | 560 | 2,280,000 |
2022–2023 | 580 | 2,350,000 |
2023–2024 (estimated) | 580 | 2,440,000 |
2024–2025 (estimated) | 580 | Not stated |
HMRC does not produce household-level analysis for Marriage Allowance eligibility.
HMRC’s ongoing communications campaign for Marriage Allowance seeks to raise awareness of the eligibility criteria for the allowance, encourage take-up and educate customers on how to claim. It consists of regular promotional activity throughout the year bolstered by paid-for activity at key times of increased interest or engagement in the allowance for customers.
Financial Secretary (HM Treasury)
The Government commissioned an independent review of the loan charge to help bring the matter to a close for people who have not settled and paid their loan charge liabilities. The review identified affordability as a key barrier preventing those individuals from settling and made recommendations to remove this barrier.
In recognition of the unique circumstances, the Government is taking the extraordinary step of relieving people of some of these liabilities.
The Government has no plans to apply the review’s recommendations beyond those individuals and employers with outstanding liabilities that were the focus of the review.
Exchequer Secretary (HM Treasury)
The Government commissioned an independent review of the loan charge to help bring the matter to a close for people who have not settled and paid their loan charge liabilities. The review identified affordability as a key barrier preventing those individuals from settling and made recommendations to remove this barrier.
In recognition of the unique circumstances, the Government is taking the extraordinary step of relieving people of some of these liabilities.
The Government has no plans to apply the review’s recommendations beyond those individuals and employers with outstanding liabilities that were the focus of the review.
Exchequer Secretary (HM Treasury)
The Government commissioned an independent review of the loan charge to help bring the matter to a close for people who have not settled and paid their loan charge liabilities. The review identified affordability as a key barrier preventing those individuals from settling and made recommendations to remove this barrier.
The Government has no plans to apply the review’s recommendations beyond those individuals and employers with outstanding liabilities that were the focus of the review.
Exchequer Secretary (HM Treasury)
The government is committed to supporting the growth of financial mutuals in line with the manifesto commitment to double the size of the mutuals sector. To deliver this, the Chancellor announced a multi-year programme of measures at Mansion House 2024 which HM Treasury is now delivering.
This included asking the Prudential Regulation Authority and Financial Conduct Authority to produce a report on the current landscape of the sector. This was published in December 2025 and included measures to support the development of financial mutuals, including the FCA’s establishment of their Mutual Societies Development Unit. The government also welcomed the Mutual and Co-operative Sector Business Council and published the Financial Services Growth and Competitiveness Strategy, which will support all organisations in the financial services sector.
For credit unions specifically, the government announced it is pursuing growth-focused reforms to the common bond in Great Britain. This was announced in the Financial Inclusion Strategy in November 2025 and followed a call for evidence on reforms. The government will provide a further update on this work in due course.
Economic Secretary (HM Treasury)
The government is committed to supporting the growth of financial mutuals in line with the manifesto commitment to double the size of the mutuals sector. To deliver this, the Chancellor announced a multi-year programme of measures at Mansion House 2024 which HM Treasury is now delivering.
This included asking the Prudential Regulation Authority and Financial Conduct Authority to produce a report on the current landscape of the sector. This was published in December 2025 and included measures to support the development of financial mutuals, including the FCA’s establishment of their Mutual Societies Development Unit. The government also welcomed the Mutual and Co-operative Sector Business Council and published the Financial Services Growth and Competitiveness Strategy, which will support all organisations in the financial services sector.
For credit unions specifically, the government announced it is pursuing growth-focused reforms to the common bond in Great Britain. This was announced in the Financial Inclusion Strategy in November 2025 and followed a call for evidence on reforms. The government will provide a further update on this work in due course.
Economic Secretary (HM Treasury)
Dan Norris
(Independent - North East Somerset and Hanham)
The government recognises the contribution co-operatives make to local communities, to a diverse business sector and a resilient UK economy. In line with the manifesto commitment to double the size of the co-operatives and mutuals sector, HM Treasury is taking steps to support the growth nationwide, including in North East Somerset and Hanham.
This includes funding the Law Commission’s independent review of the Co-operative and Community Benefit Societies Act 2014, which is exploring options to modernise and update the legislative framework. The review is expected to report in 2026 and the government will carefully consider its findings before responding.
At Mansion House 2024 the Chancellor set out a package of measures to support the growth of the co-operative and mutuals sector. This included welcoming the establishment of the industry-led Mutuals and Co-operative Business Council and asking the PRA and FCA to produce a report on the mutuals landscape. These reports were published in December 2025, and covered co-operatives through the FCA’s role as registering authority.
HM Treasury works with other Government departments on support for co-operatives. This includes on the Department for Business and Trade’s call for evidence on business support for co-operatives, which was launched at Budget 2025 and closed in February 2026. In addition, the Ministry for Housing, Communities, and Local Government has announced the launch of a co-operative development unit as part of its Pride in Place Strategy.
Together, these actions will help support the growth of the co-operative sector in across the UK.
Economic Secretary (HM Treasury)
The government recognises the contribution co-operatives make to local communities, to a diverse business sector and a resilient UK economy. In line with the manifesto commitment to double the size of the co-operatives and mutuals sector, HM Treasury is taking steps to support the growth nationwide, including in Buckingham and Bletchley.
This includes funding the Law Commission’s independent review of the Co-operative and Community Benefit Societies Act 2014, which is exploring options to modernise and update the legislative framework. The review is expected to report in 2026 and the government will carefully consider its findings before responding.
At Mansion House 2024 the Chancellor set out a package of measures to support the growth of the co-operative and mutuals sector. This included welcoming the establishment of the industry-led Mutuals and Co-operative Business Council and asking the PRA and FCA to produce a report on the mutuals landscape. These reports were published in December 2025, and covered co-operatives through the FCA’s role as registering authority.
HM Treasury works with other Government departments on support for co-operatives. This includes on the Department for Business and Trade’s call for evidence on business support for co-operatives, which was launched at Budget 2025 and closed in February 2026. In addition, the Ministry for Housing, Communities, and Local Government has announced the launch of a co-operative development unit as part of its Pride in Place Strategy.
Together, these actions will help support the growth of the co-operative sector in across the UK.
Economic Secretary (HM Treasury)
During 2025 the Pride Flag was not flown on 1 Horse Guards Road on behalf of HM Treasury
HM Treasury is only one department in GOGGS (Government Offices Great George Street, encompassing 1 Horse Guards Road and 100 Parliament Street). Flag flying is administered by DCMS and Government Property Agency.
Economic Secretary (HM Treasury)
The Government is determined to see the proceeds from the sale of Chelsea Football Club transferred to support the people of Ukraine, as Mr. Abramovich committed to at the time of the sale in 2022.
Should Mr. Abramovich fail to transfer the proceeds in accordance with the terms of the licence issued by the UK government on 17 December 2025 we are fully prepared to go to court if necessary to enforce these previous commitments and ensure the proceeds are transferred into a new foundation for humanitarian purposes in Ukraine as soon as possible.
It would not be appropriate to comment further on matters relating to potential litigation. The Government does not provide information that could prejudice potential legal proceedings or reveal legally privileged material.
Economic Secretary (HM Treasury)
James McMurdock
(Independent - South Basildon and East Thurrock)
The Government regularly engages with the Bank of England, the Financial Conduct Authority (FCA), and the Money and Pensions Service (MaPS) to monitor personal finances and debt levels.
Household debt levels have been falling since the beginning of 2022, with the household debt-to-income ratio in 2025 at its lowest level since 2002. The Financial Policy Committee at the Bank of England expects households to remain resilient in aggregate. However, the Government also recognises that some households face difficulties managing debt.
The Government is committed to ensuring that those in problem debt can access the specialist support they need to get their finances back on track. That is why we fund free, impartial debt advice services through MaPS to meet the needs and concerns of individuals in debt, including national and community-based services offering free-to-client debt advice. MaPS regularly measures the need for debt advice in the UK. Its 2025 MoneyView Report notes that c.12% of adults in South Basildon and East Thurrock constituency need debt advice (compared to 14% of all UK adults).
Economic Secretary (HM Treasury)
HMRC’s standard for agents sets the minimum expectations for all tax advisers and is regularly reviewed by HMRC. While the vast majority of tax advisers support taxpayers to pay the right amount of tax, the government is legislating in this year’s Finance Bill to give HMRC the powers to better tackle tax advisers who facilitate non-compliance.
Economic Secretary (HM Treasury)
The government’s Financial Services Growth and Competitiveness Strategy , co-designed with industry, sets out the government’s ten-year plan to make the UK the world’s centre of choice for financial services investment now and in 2035.
Since July, the Government has been squarely focused on delivery the Strategy, including launching the Office for Investment: Financial Services to attract and support global firms to establish and grow in the UK and UK listings relief – exempting shares from Stamp Duty Reserve Tax for the first three years that a company is listed.
The government will continue working at pace to deliver the reforms it has committed to.
Economic Secretary (HM Treasury)
The Office for Budget Responsibility produce forecasts of future tax receipts as part of its Economic and Fiscal Outlook. The latest Economic and Fiscal outlook was published at the Spring Forecast and it included forecast tax receipts for the next five years.
Chief Secretary to the Treasury
Since the General Election, productivity has risen by more than twice as much as it did in the whole of the last Parliament. The Government has increased capital spending by an additional £120 billion - the highest level in four decades – delivering major new investment in transport, housing, energy and R&D. Departments are set to deliver nearly £14 billion of efficiency savings by 2028-29.
Chief Secretary to the Treasury
The Government accepted all but one of the independent review’s recommendations and in some cases we are going further. We are legislating a generous new settlement opportunity that will help those who have not yet settled to do so.
Most individuals could see reductions of at least 50% in their outstanding loan charge liabilities, and an estimated 30% of individuals could have these liabilities written off entirely.
Exchequer Secretary (HM Treasury)
The Government accepted all but one of the independent review’s recommendations and in some cases we are going further. We are legislating a generous new settlement opportunity that will help those who have not yet settled to do so.
Most individuals could see reductions of at least 50% in their outstanding loan charge liabilities, and an estimated 30% of individuals could have these liabilities written off entirely.
Exchequer Secretary (HM Treasury)
Installations of qualifying energy-saving materials or ‘ESMs’ in residential accommodation and buildings used solely for a charitable purpose benefit from a VAT zero-rate until March 2027.
We constantly evaluate whether to add ESMs, including heat batteries, to this relief. Any decisions would be announced by the Chancellor at a fiscal event, having assessed any change against the context of the overall public finances.
Exchequer Secretary (HM Treasury)
The Government has announced a support package worth £4.3bn to support high street businesses with their business bills, including new, permanently lower multipliers for eligible retail, hospitality, and leisure businesses.
Every pub and live music venue will also get 15% off its new bill.
Exchequer Secretary (HM Treasury)
The UK is committed to ensuring inclusive and effective international tax cooperation, and has been actively engaging in negotiations at the UN over a future Framework Convention.
The UK believes a UN Tax Framework Convention has the potential to further advance international tax cooperation, but to be successful, it needs to be clear in its aims, avoid duplicating initiatives, and seek to secure the broad support and participation of members.
Exchequer Secretary (HM Treasury)
Exchequer Secretary (HM Treasury)
The Government has announced a £4.3 billion business rates support package to protect ratepayers from large overnight increases in bills.
In addition, the Government is introducing permanently lower multipliers for eligible RHL properties. These are worth almost £1 billion per year, and will benefit over 750,000 properties.
On top of this, pubs and live music venues will also benefit from 15% off their new business rates bills, ahead of their bills being frozen in real terms for a further two years. Three-quarters of pubs will see bills flat or falling in April. The new relief is worth £1,650 for the average pub next year. As a sector pubs will pay 8% less in business rates in 2029 than they do right now.
Pubs in rural areas may also benefit from either Rural Rate Relief or Small Business Rate Relief (SBRR). Rural Rate Relief aims to ensure that key amenities are available and community assets are protected in rural areas. It provides 100% rate relief for properties that are based in eligible rural areas with populations below 3,000. Around a third of properties in England pay no business rates because of SBRR.
The Government will also launch a review which will explore how pubs are valued for business rates.
Exchequer Secretary (HM Treasury)
This information is not available on a monthly basis and figures for December cannot be provided.
The number of individuals in the Income Tax rate bands, Basic and Higher rate, for tax years 2021 to 2022 and 2025 to 2026 is published in HMRC’s accredited official statistics. Updated forecasts are published in the OBR’s March 2026 Economic and fiscal outlook.
Projected estimates for the 2025 to 2026 tax year in HMRC's statistics are based upon the 2022 to 2023 Survey of Personal Incomes using economic assumptions consistent with the OBR’s March 2025 Economic and Fiscal Outlook.
Exchequer Secretary (HM Treasury)
The Valuation Operating System for Council Tax was launched in 2025 and supports all Council Tax work in England and Wales, including the High Value Council Tax Surcharge
Exchequer Secretary (HM Treasury)
HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK which includes data on imports of fish and fisheries products, wool and meat products from the Falkland Islands. HMRC releases this information monthly, as an Accredited National Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).
From this website, it is possible to build your own data tables based upon bespoke search criteria. To use the tables, you will need the commodity codes for fish, fisheries products, wool and meat products. These codes are publicly available from the UK Trade Tariff at https://www.gov.uk/trade-tariff . Fish are classified within Chapter 03 of the Tariff, wool is found within Chapter 51 and fisheries and meat products within Chapter 16.
The data on the website will, within limitations, tell you the total value of imports of these products into the UK from the Falklands Islands. It includes value and weight (kg) of imports. However, it will not identify individual items as this could identify individual importers. This would be in conflict with Section 18 of the Commissioners for Revenue and Customs Act 2005 (CRCA). CRCA restricts the information that HMRC may disclose publicly on persons making imports and exports.
If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.
Exchequer Secretary (HM Treasury)
HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK. HMRC releases imports and exports information monthly, as an Accredited Official Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).
From this website, it is possible to build your own data tables based upon bespoke search criteria. To use the tables, you will need the commodity codes for crayfish, lobster and fish products. These codes are publicly available from the UK Trade Tariff at https://www.gov.uk/trade-tariff. Lobster and crayfish are classified to Chapter 03 of the Tariff and fish products are classified within Chapter 16.
The data on the website will, within limitations, tell you the total value of imports of these products into the UK. It includes value and weight (kg) of imports and exports. However, it will not identify individual items as this could identify individual importers or exporters. This would be in conflict with Section 18 of the Commissioners for Revenue and Customs Act 2005 (CRCA). CRCA restricts the information that HMRC may disclose publicly on persons making imports and exports.
It will not be possible to distinguish imports and exports specifically from or to Tristan Da Cunha because for trade statistics purposes the territory of “Tristan Da Cunha” is included and grouped together with imports from and exports to Saint Helena, Tristan Da Cunha and other islands in this area.
If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.
Exchequer Secretary (HM Treasury)
At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.
In recognition of the impact of the revaluation on bills, the Government introduced a support package worth £4.3 billion, to protect against ratepayers seeing large overnight increases in bills. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down next year. This also means most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.
Exchequer Secretary (HM Treasury)
HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK. HMRC releases imports and exports information monthly, as an Accredited Official Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).
From this website, it is possible to build your own data tables based upon bespoke search criteria. To use the tables, you will need the commodity codes for coffee, fish and fish products. These codes are publicly available from the UK Trade Tariff at https://www.gov.uk/trade-tariff. Coffee is classified to Chapter 09 of the Tariff, fish are classified to Chapter 03 and fish products are classified within Chapter 16.
The data on the website will, within limitations, tell you the total value of imports and exports of these products into and out of the UK. It includes the value and weight (kg) of imports and exports. However, it will not identify individual items as this could identify individual importers or exporters. This would be in conflict with Section 18 of the Commissioners for Revenue and Customs Act 2005 (CRCA). CRCA restricts the information that HMRC may disclose publicly on persons making imports and exports.
It will not be possible to distinguish imports and exports specifically from or to Saint Helena because for trade statistics purposes the territory of “St Helena” includes imports from and exports to Saint Helena, Tristan da Cunha and other islands in this area.
If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.
Exchequer Secretary (HM Treasury)
At Budget 2024 the Government announced a new independent review of the loan charge. The purpose of the review was to bring the matter to a close for people who have not settled and paid their loan charge liabilities. The review identified affordability as a key barrier preventing those individuals from settling and made recommendations to remove this barrier.
The Government has gone further in supporting people on the lowest incomes by providing an additional £5,000 deduction for those in scope of the review. This entirely removes approximately 10,000 individuals from the charge and reduces liabilities for the vast majority. Most others will see their liabilities reduced by at least half.
Under the review recommendations, an individual earning £30,000 who used a disguised remuneration scheme for three years would have their liability reduced by 66 percent. Under the Government’s plans, they will instead see 89 percent written off. It represents the Government’s attempt to provide a fair route to resolution for those who have not settled with HMRC. In turn, those people need to come forward and engage with HMRC in good faith.
Exchequer Secretary (HM Treasury)
At Budget 2024 the Government announced a new independent review of the loan charge. The purpose of the review was to bring the matter to a close for people who have not settled and paid their loan charge liabilities. The review identified affordability as a key barrier preventing those individuals from settling and made recommendations to remove this barrier.
The Government has gone further in supporting people on the lowest incomes by providing an additional £5,000 deduction for those in scope of the review. This entirely removes approximately 10,000 individuals from the charge and reduces liabilities for the vast majority. Most others will see their liabilities reduced by at least half.
Under the review recommendations, an individual earning £30,000 who used a disguised remuneration scheme for three years would have their liability reduced by 66 percent. Under the Government’s plans, they will instead see 89 percent written off. It represents the Government’s attempt to provide a fair route to resolution for those who have not settled with HMRC. In turn, those people need to come forward and engage with HMRC in good faith.
Exchequer Secretary (HM Treasury)
HMRC does not routinely share compliance data where its disclosure may undermine current or future enforcement action.
HMRC takes a risk and intelligence-based approach to enforcement of trade obligations relating to the movement of goods.
Since the introduction of the arrangements concerning goods movements into and out of Northern Ireland, HMRC has worked closely with the Trader Support Service (TSS) to ensure that traders understand their obligations, are offered support to meet them, and that proportionate steps are taken to enforce their compliance.
Exchequer Secretary (HM Treasury)
The Chancellor of the Exchequer has regular discussions with officials, external experts and ministerial colleagues on a range of issues, including national security, defence and resilience. This includes attending and speaking at public and sector events.
Chief Secretary to the Treasury
Childminders make a significant contribution to children’s development, learning, and wellbeing. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.
Only a small proportion of childminders with qualifying income over £50,000 will be mandated into Making Tax Digital (MTD) for income tax from April 2026. Childminders moving to MTD for income tax can continue to claim tax relief for household costs, wear and tear of household items and furniture, and food and drink, by deducting actual business costs. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.
The Government will monitor the impact of MTD for income tax on childminders and other home-based childcare providers in the same way as it will for all sole traders moving to MTD for income tax.
Exchequer Secretary (HM Treasury)
The government is committed to the long-term future of the aviation sector in the UK and recognises the benefits of the connectivity it creates between the UK and the rest of the world.
The Government is clear that APD is an appropriate tax that ensures airlines make a fair contribution to the public finances, particularly given that tickets are VAT free and aviation fuel incurs no duty. The Chancellor makes decisions on tax policy at fiscal events, including with regards to the international context
The government introduced a transitional relief scheme to support all businesses, which airports will benefit from. We have also published a Call for Evidence exploring concerns airports have raised around the 'Receipts and Expenditure' valuation methodology and its impact on long-term investment.
To provide long term predictability and stability for the sector, the Government has published a Call for Evidence exploring concerns airports and a small number of other ratepayers have raised around the ‘Receipts & Expenditure’ valuation methodology and its impacts on long-term, high value investments. Through this call for evidence, the government will seek to address issues raised ahead of the 2029 revaluation.
Exchequer Secretary (HM Treasury)
Producing an answer to this question would be a significant analytical task at disproportionate cost.
We will continue to keep the terms of the system under review to ensure the system protects taxpayers and students now and in the future.
Chief Secretary to the Treasury
The National Wealth Fund (NWF) identifies investment opportunities across the UK and has dedicated directors in each of the four nations to support its view of markets across the country.
Information on the geographic spread of NWF investments can be found in their 2025 Impact Report available on their website.
Chief Secretary to the Treasury
Jim McMahon
(Labour (Co-op) - Oldham West, Chadderton and Royton)
The conditions for making an application to pay Capital Gains Tax by instalments are set out within HMRC’s Capital Gains Manual at CG14910, available at GOV.UK. HMRC has confirmed to the employee ownership sector that this guidance applies to disposals to Employee Ownership Trusts, in the same way as for any other disposal.
A Self-Assessment tax return helpsheet on Employee Ownership Trusts will also be made available on GOV.UK from April 2026. This helpsheet will set out the process for applying to pay tax by instalments following disposals to Employee Ownership Trusts.
Exchequer Secretary (HM Treasury)
Jim McMahon
(Labour (Co-op) - Oldham West, Chadderton and Royton)
The conditions for making an application to pay Capital Gains Tax by instalments are set out within HMRC’s Capital Gains Manual at CG14910, available at GOV.UK. HMRC has confirmed to the employee ownership sector that this guidance applies to disposals to Employee Ownership Trusts, in the same way as for any other disposal.
A Self-Assessment tax return helpsheet on Employee Ownership Trusts will also be made available on GOV.UK from April 2026. This helpsheet will set out the process for applying to pay tax by instalments following disposals to Employee Ownership Trusts.
Exchequer Secretary (HM Treasury)
As Local Authorities are not required to report the business rates revenue they raise from different types of properties, the Government does not hold this data.
More broadly, properties that are wholly or mainly used for a charitable purpose benefit from 80% business rates relief. Local Authorities can, at their discretion, top this up to 100% relief from business rates.
Exchequer Secretary (HM Treasury)
Currently, properties which are wholly or mainly used for charitable purposes, including community amateur sports clubs, are eligible for charitable relief, which provides businesses with up to 80% off their business rates bills. Provision of further relief to charitable properties is at the discretion of local authorities.
Exchequer Secretary (HM Treasury)
HMRC recognises that payments to customers are important, therefore claims are processed as priority post. HMRC aims to process 80% of priority post received within 15 working days.
Customer correspondence performance is reported monthly and quarterly through HMRC’s published performance updates at: www.gov.uk/government/collections/hmrc-quarterly-performance-updates.
HMRC continues to invest in automation and to review their internal processes to ensure overpayments relief claims are issued in a timely manner.
Exchequer Secretary (HM Treasury)