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
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Gareth Davies (Con - Grantham and Bourne)
Shadow Financial Secretary (Treasury)
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Darren Jones (Lab - Bristol North West)Chief Secretary to the Treasury
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
Baroness Gustafsson (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
James Murray (LAB - Ealing North)Exchequer Secretary (HM Treasury)
Emma Reynolds (Lab - Wycombe)
Economic Secretary (HM Treasury)
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
15:30
Written Evidence
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, what assessment her Department made of the potential impact of changes to the …
These Regulations make provision for the tax treatment of changes to the benefits payable to members of Parliament, the Senedd …
A Bill to make provision about secondary Class 1 contributions.
16:23
News and Communications
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 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).
(1,288 in the last 7 days)
(1,148 in the last 7 days)
(535 in the last 7 days)
(286 in the last 7 days)
(281 in the last 7 days)
(1,288 in the last 7 days)
(184 in the last 7 days)
(535 in the last 7 days)
(286 in the last 7 days)
(18 in the last 7 days)
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 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: Upcoming Events
Bank of England Financial Stability Reports
29 Jan 2025, 2 p.m.
At 2:15pm: Oral evidence
Andrew Bailey - Governor at Bank of England
Nathanaël Benjamin - Executive Director, Financial Stability Strategy and Risk at Bank of England
Dame Collette Bowe - External Member, Financial Policy Committee at Bank of England
Liz Oakes - External Member, Financial Policy Committee at Bank of England
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Bank of England Financial Stability Reports
29 Jan 2025, 2 p.m.
At 2:15pm: Oral evidence
Andrew Bailey - Governor at Bank of England
Nathanaël Benjamin - Executive Director, Financial Stability Strategy and Risk at Bank of England
Liz Oakes - External Member, Financial Policy Committee at Bank of England
Dame Colette Bowe - External Member at Financial Policy Committee, Bank of England
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Economic Statistics
4 Feb 2025, 9:30 a.m.
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Appointment of Ric Lewis as Chair of the Crown Estate
5 Feb 2025, 2 p.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 transition to electric vehicles (EVs) is crucial to decarbonising transport and will support growth and productivity across the UK. There are now more than 1 million EVs on our roads. The government has committed to phasing out new cars that rely solely on internal combustion engines by 2030, and that from 2035 all new cars and vans sold in the UK will be zero emission.
Salary sacrifice schemes are not generally permitted in the public sector. This is because salary sacrifice arrangements mean employees and employers pay less income tax and National Insurance on remuneration and do not, therefore represent best value for the exchequer and UK taxpayers as a whole.
However, many public sector employees can and do make use of existing schemes that will likely be accessible to all staff, such as Cycle to Work. Employers are also encouraged to consider other options for encouraging the use of zero emission vehicles in their workforce.
Chief Secretary to the Treasury
As set out at Autumn Budget 2024, the government remains committed to restoring ODA spending to the level of 0.7% of GNI as soon as the fiscal circumstances allow. The OBR’s latest forecast shows that the ODA fiscal tests, which determine when a return to 0.7% of GNI is possible, are not due to be met within this Parliament. The government will continue to monitor future forecasts closely, and each year will review and confirm, in accordance with the International Development Act (ODA Target) Act 2015, whether a return to spending 0.7% of GNI on ODA is possible against the latest fiscal forecast.
Chief Secretary to the Treasury
The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.
It is expected that up to around 2,000 estates will be affected by the changes to APR and BPR in 2026-27, with around half of those being claims that involve AIM shares. Almost three-quarters of estates claiming agricultural property relief (or those claiming agricultural property relief and business property relief together) are expected to be unaffected by these reforms.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
Exchequer Secretary (HM Treasury)
Air Passenger Duty (APD) applies to airlines and is the principal tax on the aviation sector. It is expected to raise £4.2 billion in 2024-25 and it aims to ensure that airlines make a fair contribution to the public finances, particularly given that tickets are VAT free and aviation fuel incurs no duty.
At Autumn Budget 2024, the Government announced Air Passenger Duty (APD) rates for 2026-27, including a partial adjustment to help compensate for two recent years of inflation that was higher than expected. APD rates are set in advance using forecasts of inflation, and so with actual inflation being significantly greater than forecast in 2022 and 2023, APD rates fell in real terms. To help account for this and to ensure that the aviation industry continues to make a fair contribution to the public finances, the Government announced an adjustment to the APD rates for 2026-27.
For economy class passengers, the rate increases are: £1 for domestic flights; £2 for short-haul international flights; and £12 for long-haul and ultra-long-haul international flights.
The Government published a Tax Information and Impact Notice, which outlined the expected impacts of the APD changes. It is available at: https://www.gov.uk/government/publications/changes-to-air-passenger-duty-rates-from-1-april-2026/air-passenger-duty-rates-from-1-april-2026-to-31-march-2027
Passengers carried on flights leaving from airports in the Scottish Highlands and Islands region, such as Sumburgh Airport, are exempt from APD. This exemption is set out at: https://www.gov.uk/guidance/exemptions-from-air-passenger-duty
Exchequer Secretary (HM Treasury)
Andrew Bowie
(Conservative - West Aberdeenshire and Kincardine)
Air Passenger Duty (APD) applies to airlines and is the principal tax on the aviation sector. It is expected to raise £4.2 billion in 2024-25 and it aims to ensure that airlines make a fair contribution to the public finances, particularly given that tickets are VAT free and aviation fuel incurs no duty.
At Autumn Budget 2024, the Government announced Air Passenger Duty (APD) rates for 2026-27, including a partial adjustment to help compensate for two recent years of inflation that was higher than expected. APD rates are set in advance using forecasts of inflation, and so with actual inflation being significantly greater than forecast in 2022 and 2023, APD rates fell in real terms. To help account for this and to ensure that the aviation industry continues to make a fair contribution to the public finances, the Government announced an adjustment to the APD rates for 2026-27.
For economy class passengers, the rate increases are: £1 for domestic flights; £2 for short-haul international flights; and £12 for long-haul and ultra-long-haul international flights.
The Government published a Tax Information and Impact Notice, which outlined the expected impacts of the APD changes. It is available at: https://www.gov.uk/government/publications/changes-to-air-passenger-duty-rates-from-1-april-2026/air-passenger-duty-rates-from-1-april-2026-to-31-march-2027
Passengers carried on flights leaving from airports in the Scottish Highlands and Islands region, such as Sumburgh Airport, are exempt from APD. This exemption is set out at: https://www.gov.uk/guidance/exemptions-from-air-passenger-duty
Exchequer Secretary (HM Treasury)
Andrew Bowie
(Conservative - West Aberdeenshire and Kincardine)
Air Passenger Duty (APD) applies to airlines and is the principal tax on the aviation sector. It is expected to raise £4.2 billion in 2024-25 and it aims to ensure that airlines make a fair contribution to the public finances, particularly given that tickets are VAT free and aviation fuel incurs no duty.
At Autumn Budget 2024, the Government announced Air Passenger Duty (APD) rates for 2026-27, including a partial adjustment to help compensate for two recent years of inflation that was higher than expected. APD rates are set in advance using forecasts of inflation, and so with actual inflation being significantly greater than forecast in 2022 and 2023, APD rates fell in real terms. To help account for this and to ensure that the aviation industry continues to make a fair contribution to the public finances, the Government announced an adjustment to the APD rates for 2026-27.
For economy class passengers, the rate increases are: £1 for domestic flights; £2 for short-haul international flights; and £12 for long-haul and ultra-long-haul international flights.
The Government published a Tax Information and Impact Notice, which outlined the expected impacts of the APD changes. It is available at: https://www.gov.uk/government/publications/changes-to-air-passenger-duty-rates-from-1-april-2026/air-passenger-duty-rates-from-1-april-2026-to-31-march-2027
Passengers carried on flights leaving from airports in the Scottish Highlands and Islands region, such as Sumburgh Airport, are exempt from APD. This exemption is set out at: https://www.gov.uk/guidance/exemptions-from-air-passenger-duty
Exchequer Secretary (HM Treasury)
Air Passenger Duty (APD) applies to airlines and is the principal tax on the aviation sector. It is expected to raise £4.2 billion in 2024-25 and it aims to ensure that airlines make a fair contribution to the public finances, particularly given that tickets are VAT free and aviation fuel incurs no duty.
At Autumn Budget 2024, the Government announced Air Passenger Duty (APD) rates for 2026-27, including a partial adjustment to help compensate for two recent years of inflation that was higher than expected. APD rates are set in advance using forecasts of inflation, and so with actual inflation being significantly greater than forecast in 2022 and 2023, APD rates fell in real terms. To help account for this and to ensure that the aviation industry continues to make a fair contribution to the public finances, the Government announced an adjustment to the APD rates for 2026-27.
For economy class passengers, the rate increases are: £1 for domestic flights; £2 for short-haul international flights; and £12 for long-haul and ultra-long-haul international flights.
The Government published a Tax Information and Impact Notice, which outlined the expected impacts of the APD changes. It is available at: https://www.gov.uk/government/publications/changes-to-air-passenger-duty-rates-from-1-april-2026/air-passenger-duty-rates-from-1-april-2026-to-31-march-2027
Passengers carried on flights leaving from airports in the Scottish Highlands and Islands region, such as Sumburgh Airport, are exempt from APD. This exemption is set out at: https://www.gov.uk/guidance/exemptions-from-air-passenger-duty
Exchequer Secretary (HM Treasury)
Air Passenger Duty (APD) applies to airlines and is the principal tax on the aviation sector. It is expected to raise £4.2 billion in 2024-25 and it aims to ensure that airlines make a fair contribution to the public finances, particularly given that tickets are VAT free and aviation fuel incurs no duty.
At Autumn Budget 2024, the Government announced Air Passenger Duty (APD) rates for 2026-27, including a partial adjustment to help compensate for two recent years of inflation that was higher than expected. APD rates are set in advance using forecasts of inflation, and so with actual inflation being significantly greater than forecast in 2022 and 2023, APD rates fell in real terms. To help account for this and to ensure that the aviation industry continues to make a fair contribution to the public finances, the Government announced an adjustment to the APD rates for 2026-27.
For economy class passengers, the rate increases are: £1 for domestic flights; £2 for short-haul international flights; and £12 for long-haul and ultra-long-haul international flights.
The Government published a Tax Information and Impact Notice, which outlined the expected impacts of the APD changes. It is available at: https://www.gov.uk/government/publications/changes-to-air-passenger-duty-rates-from-1-april-2026/air-passenger-duty-rates-from-1-april-2026-to-31-march-2027
Passengers carried on flights leaving from airports in the Scottish Highlands and Islands region, such as Sumburgh Airport, are exempt from APD. This exemption is set out at: https://www.gov.uk/guidance/exemptions-from-air-passenger-duty
Exchequer Secretary (HM Treasury)
Guidance on the right to submit a proposal (formal challenge) against a Council Tax band and changes that may affect a property’s band is published at the following links:
- Challenge your Council Tax band: Overview - GOV.UK.
- How Council Tax works: Working out your Council Tax - GOV.UK.
The Valuation Office Agency (VOA) proactively raises awareness of the guidance, and in addition has created and promotes other bespoke content clearly explaining how customers can challenge their Council Tax band. This is shared on social media, gov.uk and with partner organisations, e.g. local authorities, on a regular on-going basis.
Exchequer Secretary (HM Treasury)
HMT staff must have completed 2 years’ service to be protected against unfair dismissal.
The new Employment Rights Bill will amend the law on unfair dismissal to protect staff from their first working day.
HMT will implement this legislative change when it comes into force.
Exchequer Secretary (HM Treasury)
HMT staff must have worked continuously for the Civil Service for at least 26 weeks to be eligible for paternity leave.
The Employment Rights Bill will remove this requirement and staff will be entitled to paternity leave from their first working day. HMT will implement this legislative change when it comes into force.
Exchequer Secretary (HM Treasury)
HMT staff must have worked continuously for the Civil Service for at least 26 weeks to be eligible for shared parental leave and pay. Staff can also take unpaid parental leave in addition to shared parental leave if they meet the eligibility criteria.
The Employment Rights Bill will remove this eligibility requirement and staff will be entitled to unpaid parental leave from their first working day. HMT will implement this legislative change when it comes into force.
Exchequer Secretary (HM Treasury)
VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. Tax breaks reduce the revenue available for public services, and must represent value for money for the taxpayer.
At Autumn Budget 2024, the Government took a number of difficult but necessary decisions on tax, welfare, and spending to fix the public finances, fund public services, and restore economic stability. This stability is critical to boosting investment and growth, and to making people across the UK better off.
One of the key considerations for any potential new VAT relief is whether the cost saving is likely to be passed on to consumers. Evidence suggests that businesses only partially pass on any savings from lower VAT rates, meaning that cutting VAT may not be an effective way to reduce prices for consumers.
Exchequer Secretary (HM Treasury)
The Government published information about the reforms to agricultural property relief and business property relief at www.gov.uk/government/publications/agricultural-property-relief-and-business-property-relief-reforms.
It is expected that up to around 2,000 estates will be affected by the changes to APR and BPR in 2026-27, with around half of those being claims that involve AIM shares. Almost three-quarters of estates claiming agricultural property relief (or those claiming agricultural property relief and business property relief together) are expected to be unaffected by these reforms.
In accordance with standard practice, a tax information and impact note will be published alongside the draft legislation before the relevant Finance Bill.
Exchequer Secretary (HM Treasury)
As with all taxes and allowances, the Government keeps flat rates expenses, including Overseas Scale Rates, under review.
Any decisions on future changes in this area will be taken in the context of the wider public finances.
Exchequer Secretary (HM Treasury)
The Government recognises the importance of individuals receiving accurate and reliable information when they are considering an Individual Voluntary Arrangement (IVA). When administered well, IVAs provide a debt solution to people who aren’t eligible for a Debt Relief Order, or who want an alternative to bankruptcy. However, if an IVA is unsuitable, it can leave people in debt for longer and result in further financial difficulty. Oversight of Insolvency Practitioners, who administer IVAs, is provided through standards applied by one of three Recognised Professional Bodies and overseen by the Insolvency Service.
The Insolvency Service is taking action to address concerns about the debt solutions market and expects to see swift action from volume IVA firms to eliminate poor practice. To support this, the Insolvency Service are also working with the sector to publish a new simplified IVA Protocol and key facts document to help consumers understand what they are signing up for. New guidance is also being published for Insolvency Practitioners on their control of cases. This is further to the 2023 publication of a new Standard for Insolvency Practitioners (SIP 3.1), making clear their responsibility to ensure consumers have received an explanation of all potential debt relief solutions so that they can make an informed judgement. The Insolvency Service continues to work to address poor practices through its ongoing review of the personal insolvency framework and continued collaboration with other regulators.
Debt advice providers, and debt packager firms which may refer individuals to IVA providers and other debt solutions, are regulated by the Financial Conduct Authority (FCA). In 2023, the FCA banned referral fees for debt packager firms to remove incentives to recommend debt solutions which may not be in the consumer’s best interest.
The ongoing collaboration between the FCA, the Insolvency Service, and other stakeholders reflects a concerted effort to enhance consumer protection in the debt advice and insolvency sectors. The Government will continue to monitor the effectiveness of existing regulatory frameworks.
Economic Secretary (HM Treasury)
The Government recognises the importance of individuals receiving accurate and reliable information when they are considering an Individual Voluntary Arrangement (IVA). When administered well, IVAs provide a debt solution to people who aren’t eligible for a Debt Relief Order, or who want an alternative to bankruptcy. However, if an IVA is unsuitable, it can leave people in debt for longer and result in further financial difficulty. Oversight of Insolvency Practitioners, who administer IVAs, is provided through standards applied by one of three Recognised Professional Bodies and overseen by the Insolvency Service.
The Insolvency Service is taking action to address concerns about the debt solutions market and expects to see swift action from volume IVA firms to eliminate poor practice. To support this, the Insolvency Service are also working with the sector to publish a new simplified IVA Protocol and key facts document to help consumers understand what they are signing up for. New guidance is also being published for Insolvency Practitioners on their control of cases. This is further to the 2023 publication of a new Standard for Insolvency Practitioners (SIP 3.1), making clear their responsibility to ensure consumers have received an explanation of all potential debt relief solutions so that they can make an informed judgement. The Insolvency Service continues to work to address poor practices through its ongoing review of the personal insolvency framework and continued collaboration with other regulators.
Debt advice providers, and debt packager firms which may refer individuals to IVA providers and other debt solutions, are regulated by the Financial Conduct Authority (FCA). In 2023, the FCA banned referral fees for debt packager firms to remove incentives to recommend debt solutions which may not be in the consumer’s best interest.
The ongoing collaboration between the FCA, the Insolvency Service, and other stakeholders reflects a concerted effort to enhance consumer protection in the debt advice and insolvency sectors. The Government will continue to monitor the effectiveness of existing regulatory frameworks.
Economic Secretary (HM Treasury)
The direct costs of negotiation are owned and monitored by the FCDO and MOD, and have all been met from within their budgets. Policy impact assessments are similarly owned by the FCDO and MOD. Any financial obligations arising from the finalised agreement will be managed responsibly within the government’s fiscal framework, including through the upcoming Spending Review.
Chief Secretary to the Treasury
The UK Government continues to raise Taiwan with international partners, including China. The Foreign Secretary raised the importance of maintaining peace and stability in the Taiwan Strait with the Chinese Vice-President in Autumn last year.
Economic Secretary (HM Treasury)
Mike Wood
(Conservative - Kingswinford and South Staffordshire)
As the government’s Security Minister has confirmed in Parliament, work is under way to identify which foreign powers will be placed on the Foreign Influence Registration Scheme enhanced tier.
Economic Secretary (HM Treasury)
The pricing and availability of mortgages is a commercial decision for mortgage lenders in which the Government does not intervene.
However, the Government is regularly in contact with mortgage lenders on all aspects of their business, including the provision of finance to different cohorts of borrowers.
The UK also benefits from a competitive mortgage market, with a wide variety of products available. Any prospective borrower should speak to a mortgage broker, who will be able to assist them in finding the best possible product for their circumstances.
Economic Secretary (HM Treasury)
This government will continue to support the certainty and stability businesses need to invest in the high growth sectors that will drive our growth mission. At the UK-China Economic and Financial Dialogue, the Chancellor of the Exchequer was clear on the importance of open and candid conversation and secured China's agreement on the importance of a fair, open and non-discriminatory business environment.
Economic Secretary (HM Treasury)
The government departments’ refund scheme applies to certain specified services that qualifying bodies choose to contract out rather than supply in-house. Where there is a single contract for the hire of a vehicle which includes repair and maintenance, recovery of VAT is allowed where the contract is for more than 30 days. VAT charged on the contracting out of repair and maintenance as a stand-alone service is also recoverable. The hire of vehicles is not a service provided in-house and VAT on the hire alone is not recoverable under the government departments’ refund scheme.
Exchequer Secretary (HM Treasury)
Since 1 January 2025, all education services and vocational training provided by private schools in the UK for a charge have been subject to VAT at the standard rate of 20 per cent. There is not an exemption for the children of EU nationals serving in the armed forces in the UK.
The Government greatly values the contribution of our serving military personnel. The Ministry of Defence has increased the funding allocated to the Continuity of Education Allowance (CEA) to account for the impact of any private school fee increases on the proportion of fees covered by the CEA in line with how the allowance normally operates.
Exchequer Secretary (HM Treasury)
The Government is aware of the EU Commission’s proposed reforms to the Union Customs Code (UCC), which include proposals aimed at addressing significant increases in volumes of parcels imported directly to consumers.
The Government will continue to monitor the progress of the proposed reforms through the EU institutions and will monitor potential impacts on UK businesses. Various forums exist for UK-EU dialogue on issues such as this, including the UK/EU Trade Specialised Committee on Customs and Rules of Origin.
Exchequer Secretary (HM Treasury)
Since 1 January 2025, all education services and vocational training provided by private schools in the UK for a charge have been subject to VAT at the standard rate of 20 per cent.
Entitled individuals in US Forces have always been able to benefit from the VAT free purchase scheme, providing relief on goods and services in the UK. Private school fees fall into the category of services for these purposes.
The Government greatly values the contribution of our serving military personnel. The Ministry of Defence has increased the funding allocated to the Continuity of Education Allowance (CEA) to account for the impact of any private school fee increases on the proportion of fees covered by the CEA in line with how the allowance normally operates.
Exchequer Secretary (HM Treasury)
The Government recognises that credit, when provided responsibly, can be crucial for people facing unexpected expenses or managing their cash flow. That is why it is committed to expanding access to affordable credit, so that everyone has the opportunity to access products and services which support their financial wellbeing and goals.
HM Treasury regularly engages with the banking and mutuals sector — which includes building societies — to discuss a range of policy matters, including provision of affordable credit. It has sought to understand the current barriers faced by the mutuals sector and to identify further opportunities for growth, acknowledging the sector’s valuable role in providing affordable credit.
In addition to continuing to engage with the banking and mutuals sector, HM Treasury will assess the provision of affordable credit more broadly as part of the financial inclusion strategy work announced last year.
Economic Secretary (HM Treasury)
The government issues debt to the market, and the price of government debt is determined by the market.
The government does not comment on specific financial market movements. Gilt yields are determined by a wide range of international and domestic factors, and it is normal for the yields of gilts to fluctuate when there are wider movements in the global financial markets.
Economic Secretary (HM Treasury)
The Government is committed to helping people build their financial resilience.
At Autumn Budget 2024, we announced an extension to the Help to Save Scheme which aims to bolster the financial resilience of low-income households by providing a 50% bonus on savings up to £50 per month. From April 2025, the scheme will also be made available to all Universal Credit (UC) claimants in work, not just those earning over a certain amount. This will ensure that Help to Save reaches many more households who need it while the Government explores delivery options for the future of the scheme.
We also introduced a new Fair Repayment Rate to cap deductions on Universal Credit to 15% (previously 25%) of the standard allowance, meaning that individuals will keep more of their Universal Credit payment each month. This will provide a direct cash boost to 1.2 million households on Universal Credit by £420 a year on average.
To support those in problem debt, the Government offers a variety of debt advice services through the Money and Pensions Service. These national and community-based services help individuals in England manage their debts. The Government also provides funding for debt advice services in Scotland, Wales, and Northern Ireland which are delivered by the Devolved Governments.
Additionally, the Government continues to support the ‘Breathing Space’ scheme. The aim of this scheme is to encourage earlier access to debt advice and enable people in problem debt to get their finances back on track. As of December 2024, over 280,000 people in problem debt have benefited from Breathing Space protections.
Going forward, we are also developing a Financial Inclusion Strategy to ensure consumers have access to the affordable and appropriate products they need to support their financial resilience.
Economic Secretary (HM Treasury)
Exchequer Secretary (HM Treasury)
The Financial Conduct Authority (FCA) recently conducted a study on the credit information market — the Credit Information Market Study — to understand how this market operates and assess whether it is working effectively for consumers and lenders.
In December 2023, the FCA published the final report for this study, proposing twelve remedies to improve the market. One of the remedies recommends that credit reference agencies (CRAs) streamline the process for consumers to add ‘credit freeze’ markers to their credit reports and ensure these markers are automatically registered across all CRAs. The FCA and industry are jointly establishing a new Credit Reporting Governance Body, which will be responsible for overseeing the sharing of credit information and implementing this recommendation.
Economic Secretary (HM Treasury)
The UK has recently attracted several high-profile listings from firms taking advantage of our reforms to make it easier to raise capital and fund growth on UK markets.
This includes IPOs from high-growth UK firms such as Raspberry Pi and Applied Nutrition, as well as listings from prominent international firms such as Canal+ and CK Infrastructure.
More broadly, in 2024 more capital was raised on UK equity markets than the next three European exchanges combined.
Economic Secretary (HM Treasury)
Data from the latest UK House Price Index shows that while the average price paid by first-time buyers has increased, it is still below the LISA property price cap in all regions of the UK except for London, where the average price paid is affected by boroughs with very high property values.
The Government keeps all aspects of savings tax policy under review.
Economic Secretary (HM Treasury)
This Government will take a consistent, long term and strategic approach to managing the UK's relations with China, rooted in UK and global interests. We will co-operate where we can, compete where we need to, and challenge where we must.
The Chancellor raised a range of UK concerns in meetings with the Chinese government counterparts, including human rights and the restrictions on rights and freedoms in Hong Kong and the case of Jimmy Lai. The Chancellor also published a written ministerial statement about her visit to China on the morning of Monday 13 January and delivered an oral statement to the House of Commons on Tuesday 14 January.
The first duty of the Government is to keep the country safe and it is committed to responding to foreign interference, including those actions which amount to transnational repression. We continually assess potential threats in the UK, and take very seriously the protection of individuals’ rights, freedoms, and safety. Any attempt by any foreign state to intimidate, harass or harm individuals in the UK will not be tolerated.
We have a broad suite of powers available to counter this threat, and we continue to implement measures in the National Security Act 2023, which make the UK a harder target for those states which seek to conduct hostile acts.
Financial Secretary (HM Treasury)
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. According to the Bank of England’s Financial Policy Committee in its November 2024 Financial Stability Report, household debt as a share of income fell to 130% in Q2 2024 from 132% at the end of 2023, and borrowers slightly increased their aggregate savings buffers in 2024 making them more resilient to potential economic shocks. The Money and Pensions Service conducts an annual survey of people in financial difficulty in the UK. The results of their latest survey were published on 29 February 2024.
As of December 2024, Public Sector Net Debt (PSND) was 97.2% of GDP. Net financial debt (PSNFL), the measure targeted by the Government’s fiscal rule, was 84.5%.
Financial Secretary (HM Treasury)
The Government is making elements of the non-dom reforms simpler to use and more attractive, whilst retaining the structure announced at the Budget. We do not expect these changes to impact the £33.8 billion of tax revenue that the OBR forecast to raise over five years from this government’s and the previous government’s changes to the non-dom tax regime.
Evidence from reforms in 2017 shows that the vast majority of former non-doms who became liable for tax on their worldwide income and gains remained UK resident and continued to contribute to the UK economy.
The Government published a Tax Information and Impact Note for this policy on 30 October, which can be found on GOV.UK.
Financial Secretary (HM Treasury)
Following recent case law from 2020, double cab pick up vehicles (DCPU) with a payload of one tonne or more must be treated as cars, based on primary use.
In the light of this judgement, the government would have to legislate to treat DCPUs as goods vehicles. The government has made clear it does not intend to do so as this would depart from the principles underpinning the Court of Appeal’s judgement and would incur significant fiscal cost, which is not affordable, given the state of the public finances inherited by this Government.
In accordance with standard practice, a tax information and impact note is only published when legislative changes are made.
Exchequer Secretary (HM Treasury)
The Government understands that increased costs of essentials such as energy and food are causing worries and hardship for many people, including disabled people. We are deeply committed to addressing these concerns.
Certain benefits available to support disabled people, such as the Personal Independence Payment, which is designed to help people with the extra costs of their disability or health condition, will increase fully by inflation in 2025-26 – an increase of 1.7% (September CPI) from April 2025. This will help many people with disabilities to manage cost-of-living pressures.
The Government recognises that not everyone can work and is committed to supporting those who are unable to work through the benefit system. However, where people can work, the Government has introduced a range of policies which help disabled people interact with, and return to, the labour market. Supporting people into good quality work will not only improve living standards but is vital in managing fiscal pressures and boosting the wider economy.
The Government updated the remit of the Low Pay Commission (LPC) so that, for the first time, the LPC were asked to consider the cost of living when recommending a National Living Wage (NLW) rate. From 1 April 2025, the NLW will increase by 6.7% to £12.21 per hour. This represents an increase of £1,400 to the gross annual earnings of a full-time worker on the NLW and is expected to benefit over 3 million low-paid workers. Those with a disability are among those more likely to benefit from these increases.
In November the Government also published the ‘Get Britain Working’ White Paper, which set out the Government’s strategy to reduce economic inactivity and help people with long-term health conditions start or stay in work. This includes a new Connect to Work programme providing £115 million in funding next year to local areas in England and Wales to deliver new back-to-work support for people who are economically inactive. Over 4 years, the OBR judge it will expand the labour market by 25,000 people.
Exchequer Secretary (HM Treasury)
Alcohol duty is a reserved matter.
The reformed alcohol duty system was introduced in August 2023 and taxes alcohol in a progressive manner, ensuring higher strength products pay proportionately more duty. This approach is supported by public health exports including clinical advisors to the Department of Health & Social Care and the Chief Medical Officer.
Small Producer Relief (SPR) was introduced alongside the reforms and allows small producers to pay a reduced duty rate on products below 8.5 per cent alcohol by volume (ABV). Retaining a strength limit for SPR is important as it aligns the relief with the Government's public health objectives and the new simplified band structure. Small spirits producers are able to claim the relief on any goods they make below this level, such as pre-mixed spirits.
At the recent Budget, the Chancellor announced that she would uprate alcohol duty in line with RPI inflation on 1 February 2025, except on qualifying draught products. This decision weighed the impacts on businesses, cost-of-living pressures on people who drink moderately and responsibly, and the public health case for higher duties to tackle increasing alcohol-related deaths, as well as economic inactivity.
However, to support UK spirits producers, the government will invest up to £5 million to support the delivery of the Spirits Drinks Verification Scheme administered by HMRC. This scheme helps spirits producers, such as UK whisky distilleries, verify their products against protected geographical indicators. Further, alcohol duty stamps scheme will end from 1 May 2025, reducing the administrative burden on spirit producers and importers.
Exchequer Secretary (HM Treasury)
Alcohol duty is a reserved matter.
The reformed alcohol duty system was introduced in August 2023 and taxes alcohol in a progressive manner, ensuring higher strength products pay proportionately more duty. This approach is supported by public health exports including clinical advisors to the Department of Health & Social Care and the Chief Medical Officer.
Small Producer Relief (SPR) was introduced alongside the reforms and allows small producers to pay a reduced duty rate on products below 8.5 per cent alcohol by volume (ABV). Retaining a strength limit for SPR is important as it aligns the relief with the Government's public health objectives and the new simplified band structure. Small spirits producers are able to claim the relief on any goods they make below this level, such as pre-mixed spirits.
At the recent Budget, the Chancellor announced that she would uprate alcohol duty in line with RPI inflation on 1 February 2025, except on qualifying draught products. This decision weighed the impacts on businesses, cost-of-living pressures on people who drink moderately and responsibly, and the public health case for higher duties to tackle increasing alcohol-related deaths, as well as economic inactivity.
However, to support UK spirits producers, the government will invest up to £5 million to support the delivery of the Spirits Drinks Verification Scheme administered by HMRC. This scheme helps spirits producers, such as UK whisky distilleries, verify their products against protected geographical indicators. Further, alcohol duty stamps scheme will end from 1 May 2025, reducing the administrative burden on spirit producers and importers.
Exchequer Secretary (HM Treasury)
Alcohol duty is a reserved matter.
The reformed alcohol duty system was introduced in August 2023 and taxes alcohol in a progressive manner, ensuring higher strength products pay proportionately more duty. This approach is supported by public health exports including clinical advisors to the Department of Health & Social Care and the Chief Medical Officer.
Small Producer Relief (SPR) was introduced alongside the reforms and allows small producers to pay a reduced duty rate on products below 8.5 per cent alcohol by volume (ABV). Retaining a strength limit for SPR is important as it aligns the relief with the Government's public health objectives and the new simplified band structure. Small spirits producers are able to claim the relief on any goods they make below this level, such as pre-mixed spirits.
At the recent Budget, the Chancellor announced that she would uprate alcohol duty in line with RPI inflation on 1 February 2025, except on qualifying draught products. This decision weighed the impacts on businesses, cost-of-living pressures on people who drink moderately and responsibly, and the public health case for higher duties to tackle increasing alcohol-related deaths, as well as economic inactivity.
However, to support UK spirits producers, the government will invest up to £5 million to support the delivery of the Spirits Drinks Verification Scheme administered by HMRC. This scheme helps spirits producers, such as UK whisky distilleries, verify their products against protected geographical indicators. Further, alcohol duty stamps scheme will end from 1 May 2025, reducing the administrative burden on spirit producers and importers.
Exchequer Secretary (HM Treasury)
Alcohol duty is a reserved matter.
The reformed alcohol duty system was introduced in August 2023 and taxes alcohol in a progressive manner, ensuring higher strength products pay proportionately more duty. This approach is supported by public health exports including clinical advisors to the Department of Health & Social Care and the Chief Medical Officer.
Small Producer Relief (SPR) was introduced alongside the reforms and allows small producers to pay a reduced duty rate on products below 8.5 per cent alcohol by volume (ABV). Retaining a strength limit for SPR is important as it aligns the relief with the Government's public health objectives and the new simplified band structure. Small spirits producers are able to claim the relief on any goods they make below this level, such as pre-mixed spirits.
At the recent Budget, the Chancellor announced that she would uprate alcohol duty in line with RPI inflation on 1 February 2025, except on qualifying draught products. This decision weighed the impacts on businesses, cost-of-living pressures on people who drink moderately and responsibly, and the public health case for higher duties to tackle increasing alcohol-related deaths, as well as economic inactivity.
However, to support UK spirits producers, the government will invest up to £5 million to support the delivery of the Spirits Drinks Verification Scheme administered by HMRC. This scheme helps spirits producers, such as UK whisky distilleries, verify their products against protected geographical indicators. Further, alcohol duty stamps scheme will end from 1 May 2025, reducing the administrative burden on spirit producers and importers.
Exchequer Secretary (HM Treasury)
The Government publishes Tax Information and Impact Notes (TIINs) for tax policy changes. TIINs give a clear explanation of the policy objective and an assessment of the impacts including on the Exchequer, individuals and families, businesses including civil society organisations and others. The TIIN for the employer NICs changes was published on 13 November 2024.
Exchequer Secretary (HM Treasury)
The Valuation Office Agency (VOA) publishes its guidance manual here: https://www.gov.uk/guidance/council-tax-manual/council-tax-practice-notes. Practice Note 2, Appendix 2 refers. Technical experts are also available internally to provide support to VOA staff as required.
The VOA’s guidance is kept under review and updated when needed.
Exchequer Secretary (HM Treasury)
Remittances from the United Kingdom to other countries are not taxable, as such HMRC does not hold this data.
Exchequer Secretary (HM Treasury)
HMRC has published comprehensive guidance on managing the tax implications of the public service pensions remedy, both for impacted pension scheme members and for schemes administrators. This guidance covers the position for under and overpayments of tax following the remedy rollback and is available on GOV.UK.
Members can also use the “Calculate your public service pension scheme adjustment” digital service to simplify the process of calculating whether they owe further tax or may be due a refund.
HMRC have also issued guidance and updates directly to scheme administrators via pension scheme newsletters to support schemes with drafting their own internal member communications.
Exchequer Secretary (HM Treasury)
We do not routinely publish this data, as has been the case under successive administrations. All Business Units within the Chancellor’s Department have a responsibility to carefully manage official hospitality costs and demonstrate good value for money.
Details of ministerial and senior official hospitality are published on a quarterly basis, and are available on GOV.UK.
Exchequer Secretary (HM Treasury)
The information requested can be found at: https://www.contractsfinder.service.gov.uk/notice/dfa702cb-97dc-427a-a0bd-a7bece4af9f9?origin=SearchResults&p=1
Exchequer Secretary (HM Treasury)
No such contracts have been awarded or extended by HM Treasury.
Exchequer Secretary (HM Treasury)