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
Democratic Unionist Party
Sammy Wilson (DUP - East Antrim)Shadow DUP Spokesperson (Treasury)
Liberal Democrat
Baroness Kramer (LD - Life peer)Liberal Democrat Lords Spokesperson (Treasury and Economy)
Plaid Cymru
Ben Lake (PC - Ceredigion)Shadow PC Spokesperson (Treasury)
Labour
Rachel Reeves (Lab - Leeds West)Shadow Chancellor of the Exchequer
Liberal Democrat
Sarah Olney (LD - Richmond Park)Liberal Democrat Spokesperson (Treasury)
Labour
Baroness Chapman of Darlington (Lab - Life peer)Shadow Spokesperson (Treasury)
Lord Livermore (Lab - Life peer)
Shadow Spokesperson (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Labour
James Murray (Lab - Ealing North)Shadow Financial Secretary (Treasury)
Tulip Siddiq (Lab - Hampstead and Kilburn)
Shadow Minister (Treasury)
Darren Jones (Lab - Bristol North West)
Shadow Chief Secretary to the Treasury
Junior Shadow Ministers / Deputy Spokesperson
Labour
Tanmanjeet Singh Dhesi (Lab - Slough)Shadow Exchequer Secretary (Treasury)
Ministers of State
Nigel Huddleston (Con - Mid Worcestershire)Financial Secretary (HM Treasury)
Laura Trott (Con - Sevenoaks)
Chief Secretary to the Treasury
Parliamentary Under-Secretaries of State
Gareth Davies (Con - Grantham and Stamford)Exchequer Secretary (HM Treasury)
Bim Afolami (Con - Hitchin and Harpenden)
Economic Secretary (HM Treasury)
Baroness Vere of Norbiton (Con - Life peer)
Parliamentary Secretary (HM Treasury)
Orders and regulations - Grand Committee
Draft Payment and Electronic Money Institution Insolvency (Amendment) Regulations 2023
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Legislation - Main Chamber
National Insurance Contributions (Reductions in Rates) Bill – second reading
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Legislation - Main Chamber
National Insurance Contributions (Reductions in Rates) Bill – committee and remaining stages
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Orders and regulations - Grand Committee
Financial Services and Markets Act 2000 (Financial Promotion) (Amendment) (No. 2) Order 2023
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Orders and regulations - Grand Committee
Draft Financial Services and Markets Act 2023 (Consequential Amendments) Regulations 2023; Draft Financial Services and Markets Act 2023 (Benchmarks and Capital Requirements) (Amendment) Regulations 2023
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11:30
Oral questions - Main Chamber
19 Dec 2023, 11:30 a.m.
HM Treasury (including Topical Questions)
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Commons Chamber
00:01
To ask the Chancellor of the Exchequer, whether his Department has established a (a) board and (b) working group for …
These Regulations permit the FCA, the PRA and the Payment Systems Regulator to remunerate members of certain of their statutory …
A Bill to make provision in connection with finance.
14:42
Policy and Engagement
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
A Bill to make provision for and in connection with reducing the main rates of primary Class 1 national insurance contributions and Class 4 national insurance contributions, and removing the requirement to pay Class 2 national insurance contributions.
Thursday 30th November 2023
Monday 4th December 2023
A Bill to make provision in connection with finance.
Monday 27th November 2023
Acts of Parliament created in the 2019 Parliament
A Bill to Authorise the use of resources for the year ending with 31 March 2024; 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 2023.
This Bill received Royal Assent on 11th July 2023 and was enacted into law.
A Bill to make provision in connection with finance.
This Bill received Royal Assent on 11th July 2023 and was enacted into law.
A Bill To make provision about the regulation of financial services and markets; and for connected purposes.
This Bill received Royal Assent on 29th June 2023 and was enacted into law.
A Bill to make provision about the UK Infrastructure Bank
This Bill received Royal Assent on 23rd March 2023 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2022, 31 March 2023 and 31 March 2024; 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 2022 and 31 March 2023.
This Bill received Royal Assent on 23rd March 2023 and was enacted into law.
A Bill to reduce for a temporary period the amount of stamp duty land tax chargeable on the acquisition of residential property.
This Bill received Royal Assent on 8th February 2023 and was enacted into law.
A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.
This Bill received Royal Assent on 10th January 2023 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2023; to authorise the issue of sums out of the Consolidated Fund for that year; and to appropriate the supply authorised by this Act for that year.
This Bill received Royal Assent on 25th October 2022 and was enacted into law.
A Bill to make provision for and in connection with the repeal of the Health and Social Care Levy Act 2021.
This Bill received Royal Assent on 25th October 2022 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2023; 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 2022
This Bill received Royal Assent on 14th July 2022 and was enacted into law.
A Bill to make provision for, and in connection with, imposing a charge on ring fence profits of companies.
This Bill received Royal Assent on 14th July 2022 and was enacted into law.
A Bill to make provision for and in connection with increasing the thresholds at which primary Class 1 contributions, Class 2 contributions and Class 4 contributions become payable.
This Bill received Royal Assent on 31st March 2022 and was enacted into law.
A Bill to make provision in relation to national insurance contributions.
This Bill received Royal Assent on 14th March 2022 and was enacted into law.
A Bill To Authorise the use of resources for the years ending with 31 March 2021, 31 March 2022 and 31 March 2023; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2021 and 31 March 2022.
This Bill received Royal Assent on 14th March 2022 and was enacted into law.
A Bill to make provision about public service pension schemes, including retrospective provision to rectify unlawful discrimination in the way in which existing schemes were restricted under the Public Service Pensions Act 2013 and corresponding Northern Ireland legislation; to make provision for the establishment of new public pension schemes for members of occupational pension schemes of bodies that were brought into public ownership under the Banking (Special Provisions) Act 2008; to make provision about the remuneration and the date of retirement of holders of certain judicial offices; to make provision about judicial service after retirement; and for connected purposes
This Bill received Royal Assent on 10th March 2022 and was enacted into law.
A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.
This Bill received Royal Assent on 24th February 2022 and was enacted into law.
A Bill to make provision about the meaning of references to Article 23A benchmarks in contracts and other arrangements; and to make provision about the liability of administrators of Article 23A benchmarks
This Bill received Royal Assent on 15th December 2021 and was enacted into law.
A Bill to provide for the payment out of money provided by Parliament of expenditure incurred by the Treasury for, or in connection with, the payment of compensation to customers of London Capital & Finance plc; provide for the making of loans to the Board of the Pension Protection Fund for the purposes of its fraud compensation functions; and for connected purposes.
This Bill received Royal Assent on 20th October 2021 and was enacted into law.
A Bill to make provision imposing a tax (to be known as the health and social care levy), the proceeds of which are payable to the Secretary of State towards the cost of health care and social care, on amounts in respect of which national insurance contributions are, or would be if no restriction by reference to pensionable age were applicable, payable; and for connected purposes.
This Bill received Royal Assent on 20th October 2021 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2022; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2021.
This Bill received Royal Assent on 19th July 2021 and was enacted into law.
A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.
This Bill received Royal Assent on 10th June 2021 and was enacted into law.
A Bill to make provision about financial services and markets; to make provision about debt respite schemes; to make provision about Help-to-Save accounts; and for connected purposes.
This Bill received Royal Assent on 29th April 2021 and was enacted into law.
A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.
This Bill received Royal Assent on 15th March 2021 and was enacted into law.
A Bill to authorise the use of resources for the years ending with 31 March 2019, 31 March 2020, 31 March 2021 and 31 March 2022; to authorise the issue of sums out of the Consolidated Fund for the years ending 31 March 2020, 31 March 2021 and 31 March 2022; and to appropriate the supply authorised by this Act for the years ending with 31 March 2019, 31 March 2020 and 31 March 2021.
This Bill received Royal Assent on 15th March 2021 and was enacted into law.
A Bill to make provision for payments to or in respect of Ministers and holders of Opposition offices on maternity leave.
This Bill received Royal Assent on 1st March 2021 and was enacted into law.
A Bill to make provision (including the imposition and regulation of new duties of customs) in connection with goods in Northern Ireland and their movement into or out of Northern Ireland; to make provision amending certain enactments relating to value added tax, excise duty or insurance premium tax; to make provision in connection with the recovery of unlawful state aid in relation to controlled foreign companies; and for connected purposes.
This Bill received Royal Assent on 17th December 2020 and was enacted into law.
This Bill received Royal Assent on 22nd July 2020 and was enacted into law.
A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.
This Bill received Royal Assent on 22nd July 2020 and was enacted into law.
A Bill to make provision to reduce for a temporary period the amount of stamp duty land tax chargeable on the acquisition of residential property.
This Bill received Royal Assent on 22nd July 2020 and was enacted into law.
A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.
This Bill received Royal Assent on 25th March 2020 and was enacted into law.
A Bill to authorise the use of resources for the years ending with 31 March 2020 and 31 March 2021; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the year ending with 31 March 2020.
This Bill received Royal Assent on 16th March 2020 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).
(2,477 in the last 7 days)
(179 in the last 7 days)
(142 in the last 7 days)
(29 in the last 7 days)
(6 in the last 7 days)
(142 in the last 7 days)
(2,477 in the last 7 days)
(179 in the last 7 days)
(9 in the last 7 days)
Petition Closed
Extend the Stamp Duty Holiday for an additional 6 months after 31st March 2021
Gov Responded - 10 Dec 2020closed 2 years, 8 months ago
Extending the Stamp Duty Holiday for an additional 6 months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise.
This will help to stabilise the housing market
Petition Closed
Give all key workers a 100% tax and Nat. Ins. holiday through COVID-19 crisis
Gov Responded - 27 Apr 2020 Debated on - 14 Dec 2020closed 3 years, 2 months ago
The government is helping private firms to protect jobs by paying up to 80% of staff wages through this crisis. If it can do this why can it not help key workers who will be putting themselves/their families at risk and working extra hard under extremely challenging and unprecedented circumstances.
Petition Closed
Introduce charges on carbon emissions to tackle climate crisis and air pollution
Gov Responded - 30 Mar 2021 Debated on - 1 Nov 2021closed 2 years, 3 months ago
Air pollution kills 64,000 people in the UK every year, yet the Government provides annual fossil fuel subsidies of £10.5 billion, according to the European Commission. To meet UK climate targets, the Government must end this practice and introduce charges on producers of greenhouse gas emissions.
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 Chair since 9th November 2022
Treasury Committee Member since 2nd March 2020
Treasury Committee Member since 11th May 2020
Treasury Committee Member since 20th April 2021
Treasury Committee Member since 21st November 2022
Treasury Committee Member since 21st November 2022
Treasury Committee Member since 21st November 2022
Treasury Committee Member since 21st November 2022
Treasury Committee Member since 26th June 2023
Treasury Committee Member since 12th September 2023
Treasury Committee Member since 20th November 2023
Treasury Committee: 14 Current Inquiries
Treasury Committee: Previous Inquiries
50 most recent Written Questions
(View all written questions)In each of the last three financial years the income collected from the ordering of new driving licenses is:
- 2020/21 - £86.3m
- 2021/22 - £117.8m
- 2022/23 - £123.5m
The income collected from new passports is published in Home Office’s Annual Report and Accounts. Data for the specified years is available through the following links.
Exchequer Secretary (HM Treasury)
HM Treasury has recently established an official-level East West Rail economic growth board with representatives from relevant government departments (DfT, DLUHC, DBT, DSIT & the IPA). The board will ensure that central government is fully joined up in its support for locally-led plans to maximise the benefits of East West Rail, and will co-ordinate activity accordingly.
The government provided £15m of funding at Spring Budget 2023 to support local authorities along the East West Rail route to further progress their plans to make the most of the railway for their communities.
Exchequer Secretary (HM Treasury)
The Government remains committed to returning to a target of spending 0.7% of GNI on ODA when, on a sustainable basis, the government is not borrowing for day-to-day spending and underlying debt is falling.
Chief Secretary to the Treasury
HMRC does not segment its data in this way, and therefore this information would only be available at disproportionate cost.
Financial Secretary (HM Treasury)
Financial Secretary (HM Treasury)
The government welcomes representations from industry relating to finance and Net Zero.
The Government and officials engage with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery.
Economic Secretary (HM Treasury)
Information on Child Trust Funds are available in HMRC’s Annual Savings Statistics. https://www.gov.uk/government/statistics/annual-savings-statistics-2023
A geographical and age breakdown of the data for open accounts and matured accounts that have been claimed could only be provided at a disproportionate cost.
Economic Secretary (HM Treasury)
Gregory Campbell
(Democratic Unionist Party - East Londonderry)
The subscription rules for Junior ISAs differ in a number of ways to those of an adult ISA, and are intended to ensure that tax-free savings made on behalf of children are managed and maintained efficiently and there is no complexity of 'small pots', which would create problems as those children reach adulthood. The government will publish draft amendments to the ISA rules early in 2024.
Economic Secretary (HM Treasury)
Responsible decisions on borrowing are a key pillar of government support to the MPC in its action to bring inflation down to the 2% target. The external evidence suggests that for every extra 1% of GDP of borrowing (£25 billion), we could potentially be pushing up interest rates by as much as half a per cent. And there are reasons to believe that in current conditions it could be higher than that. Treasury modelling suggests that in the current economic conditions the impact might be between 0.5 and 1.25 per cent, without taking into account any supply-side impacts on the economy.
More detail on the methodology can be found here : Further detail on HMT analysis of borrowing and interest rates - GOV.UK (www.gov.uk)
Economic Secretary (HM Treasury)
Fabian Hamilton
(Labour - Leeds North East)
Disability cost of living payments are a matter for DWP.
Chief Secretary to the Treasury
Disability cost of living payments are a matter for DWP.
Chief Secretary to the Treasury
Foodbanks are independent, charitable organisations and the Government does not have any role in their operation.
Chief Secretary to the Treasury
In line with government standards, HM Treasury commonly refers to the Department for Work and Pensions' (DWP) definitions of poverty as outlined in the Household Below Average Income (HBAI) publications.
Chief Secretary to the Treasury
As a result of announcements made at Autumn Statement 2023, the Northern Ireland Executive will receive £185 million through the Barnett formula over 2023-24 and 2024-25.
The Barnett formula determines changes to overall devolved administration block grants and Barnett-based funding is not ringfenced in line with specific programmes.
Chief Secretary to the Treasury
The government engages regularly with international partners to discuss a wide range of issues.
The government is committed to getting debt falling and the OBR’s November forecast confirmed that underlying debt begins to fall from 2027-28.
The priority to reduce debt is aligned with the approach of other advanced economies.
Chief Secretary to the Treasury
The information is only available at disproportionate cost.
Financial Secretary (HM Treasury)
Although recent data shows inflation has halved since it’s peak in October 2022, it remains the biggest challenge to the economy. There are three key things the government is doing to further reduce inflation:
- Remaining steadfast in our support for the Monetary Policy Committee of the Bank of England as it takes action to return inflation sustainably to the 2% target.
- Taking difficult, but responsible fiscal decisions by resisting calls for reckless spending that would make inflation worse, reducing borrowing and introducing ambitious measures to support growth. This includes ambitious measures to help people get back into work, investing in clean, home-grown energy, and encouraging banks to pass on higher savings rates.
- Boosting labour supply, as labour market conditions are a key problem affecting UK businesses’ growth, as well as a significant driver of domestic inflation. Together, the packages at Autumn Statement and Spring Budget 2023 were the two largest increases to labour supply and potential GDP resulting from policy the OBR has ever scored.
The IMF said in May that, in response to last year’s inflation shock, the government took “decisive and responsible” action to prioritise restoring price stability and achieve the right balance of fiscal and monetary response, while also focusing on growing the economy. The government remain committed to seeking the right balance between fiscal and monetary policy as the UK continues to navigate challenging circumstances.
The OBR confirms policies at the Autumn Statement do not materially impact inflation or demand as we continue to support the MPC to return inflation to the 2% target.
Parliamentary Secretary (HM Treasury)
The Financial Conduct Authority (FCA) is responsible for regulating the consumer credit market. It is part of a robust regulatory system which is helping to deliver the government’s vision for a well-functioning and sustainable consumer credit market which meets consumers’ needs.
The FCA oversees firms through its supervision strategy. In the FCA Mission – Approach to Supervision April 2019, the FCA set out that to make the best use of its resources and deliver the greatest public value, it takes a proportionate approach to supervising firms. It supervises most firms as members of a portfolio of firms that share a common business model. It analyses each portfolio and agrees a strategy to take action on firms posing the greatest harm.
Firms are required by FCA rules to include a representative APR in certain circumstances. The FCA’s handbook (CONC 3.5) provides further rules and guidance on when a representative APR must be shown, how it should be denoted and the level of prominence it must be given.
While not all consumers will get the advertised APR, they should be told in advance of entering into the agreement what APR they have been offered and this will be shown in the pre-contract information required to be given under the Consumer Credit Act 1974.
If a customer is concerned that they may have been mis-sold a credit agreement, they may wish to consider making a formal complaint to the firm in question in the first instance. If they then feel that their complaint has not been dealt with satisfactorily, they are able to refer the matter to the Financial Ombudsman Service (FOS) – an independent body set up to provide arbitration in such cases.
Parliamentary Secretary (HM Treasury)
The government has set itself a mission that, by 2030, every part of England that wants one will have a devolution deal, with powers at or approaching the highest level of devolution, with a simplified, long-term funding settlement.
Details of major funding programmes, including the Local Government Finance Settlement and those administered by local government or other local bodies, are available on gov.uk.
Chief Secretary to the Treasury
Martyn Day
(Scottish National Party - Linlithgow and East Falkirk)
The High Income Child Benefit Charge is currently deemed to be the best mechanism to target Child Benefit expenditure. The present arrangements mean that the Government supports the majority of families, whilst helping to ensure the fiscal position remains sustainable.
The Adjusted Net Income (ANI) threshold for HICBC affects taxpayers who are generally on comparatively high incomes, and most families are unaffected. Raising the threshold would come at a significant cost to the Government at a time when support is needed for vital public services and to support the most vulnerable.
HMRC publishes statistics on the number of Child Benefit claimants, including the number impacted by HICBC. These can be accessed at the link here: https://www.gov.uk/government/statistics/child-benefit-statistics-annual-release-august-2022
Financial Secretary (HM Treasury)
Martyn Day
(Scottish National Party - Linlithgow and East Falkirk)
The High Income Child Benefit Charge is currently deemed to be the best mechanism to target Child Benefit expenditure. The present arrangements mean that the Government supports the majority of families, whilst helping to ensure the fiscal position remains sustainable.
The Adjusted Net Income (ANI) threshold for HICBC affects taxpayers who are generally on comparatively high incomes, and most families are unaffected. Raising the threshold would come at a significant cost to the Government at a time when support is needed for vital public services and to support the most vulnerable.
HMRC publishes statistics on the number of Child Benefit claimants, including the number impacted by HICBC. These can be accessed at the link here: https://www.gov.uk/government/statistics/child-benefit-statistics-annual-release-august-2022
Financial Secretary (HM Treasury)
The Government recognises the hardship businesses face when they experience problems with banking and takes this issue very seriously.
That is why the Chancellor asked the Financial Conduct Authority (FCA) to help us collect evidence to understand where account closures or refusals are happening and why.
The FCA’s interim report (“UK Payment Accounts: Access and Closures”) was published on 19 September 2023, and it is continuing to work with firms to explore this issue.
Economic Secretary (HM Treasury)
In recent years the government has taken significant action to support lower earners through the tax system. The significant increase to the NICs starting thresholds in July 2022 means that all workers can now earn £1,000 a month before paying any tax. A UK employee can earn more money before paying income tax and Social Security Contributions than an employee in any other G7 country.
At Autumn Statement 2023, the Government cut the main rate of employee National Insurance by 2pp from January 2024, as well as cutting and reforming taxes for the self-employed from April 2024. As a result of above-inflation increases to thresholds since 2010, and the Autumn Statement 2023 NICs cut, an average worker in 2024-25 will pay over £1,000 less in personal taxes than they otherwise would have done. From April, a full time National Living Wage worker’s take home pay will be 30% greater in real terms than it was in 2010, due to successive increases in the National Living Wage and changes to personal tax rates and thresholds.
Parliamentary Secretary (HM Treasury)
Because of above inflation increases to thresholds since 2010, an average worker on £35,400 in 2023-24 will pay over £1,000 less in personal taxes than they otherwise would have done if thresholds had risen by inflation since 2010.
Financial Secretary (HM Treasury)
This is available in tab C3A of the Chapter 3 charts and tables as part of the OBR’s November 2023 Economic and Fiscal Outlook (EFO):
Financial Secretary (HM Treasury)
The Office for Budget Responsibility has published estimates for the potential impact of the Freeport tax reliefs in England, Scotland and Wales in economic and fiscal outlook publications at previous fiscal events as below:
- English Freeports: CP 545 – Office for Budget Responsibility – Economic and fiscal outlook – October 2021 (obr.uk) (page 205)
- Scottish Freeports: Economic and fiscal outlook - March 2023 (obr.uk) (Page 160)
- Welsh Freeports : Fiscal_supplementary_tables_receipts_and_other_November_2023.xlsx (live.com)
Financial Secretary (HM Treasury)
Given there are so many definitions of IT infrastructure, we are unable to provide comprehensive data without clarification on the type of spend.
Exchequer Secretary (HM Treasury)
As set out in the Autumn Statement on the 22nd of November 2023, the effect on tax revenues of maintaining subscription limits at current levels for 2024-25 for Adult, Junior, Lifetime ISAs and Child Trust Funds are as available at : Autumn_Statement_2023_Policy_Costings_-_Final.pdf (publishing.service.gov.uk)
Economic Secretary (HM Treasury)
As set out in the Autumn Statement on the 22nd of November 2023, the effect on tax revenues of maintaining subscription limits at current levels for 2024-25 for Adult, Junior, Lifetime ISAs and Child Trust Funds are as available at : Autumn_Statement_2023_Policy_Costings_-_Final.pdf (publishing.service.gov.uk)
Economic Secretary (HM Treasury)
The Government is of the view that spending and taxation decisions should be made separately to avoid limiting the ability to manage the public finances flexibly.
Exchequer Secretary (HM Treasury)
The UK is implementing the G20/OECD Pillar 2 rules from 31 December 2023. A considerable number of countries join the UK in doing so. This includes EU Member States, where a Directive mandates all Member States except the very smallest must implement for 31 December 2023.
I understand that China and India have not yet announced their plans on Pillar 2. The US administration have committed to align their policy with Pillar 2. These countries are all members of the ‘Inclusive Framework’ of countries and jurisdictions that meet, discuss and agree the rules and who must accept the rules as they are applied by those that have introduced them.
Pillar 2 is a global approach to disincentivising multinational profit shifting and levelling the playing field on tax competition, and the rules mean that not every jurisdiction is required to implement them to achieve this.
Financial Secretary (HM Treasury)
As you are aware, Lloyds Banking Group has appointed Dame Linda Dobbs as an independent legal expert to consider whether issues relating to HBOS Reading were investigated and appropriately reported to authorities at the time by Lloyds, following its acquisition of HBOS. The findings from this review have not yet been published.
Once the report from this review has been completed, its findings will be shared with the Financial Conduct Authority (FCA), which will then consider what action is appropriate to take. As the FCA is an independent body, I am unable to comment further on these matters.
Economic Secretary (HM Treasury)
Decisions on opening and closing branches are taken by the management team of each bank on a commercial basis with which the Government does not interfere.
Nonetheless, the Government believes that the impact of branch closures should be mitigated where possible so that all customers, wherever they live, continue to have access to appropriate banking services.
The Government supports industry working together to provide alternative banking and cash services, such as Banking Hubs. To date, industry has committed to delivering new shared Banking Hubs in over 90 communities. Further alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking and via the Post Office. The Post Office Banking Framework allows 99% of personal banking and 95% of business customers to deposit cheques, check their balance and withdraw and deposit cash at 11,500 Post Office branches across the UK.
Guidance from the Financial Conduct Authority also sets out its expectation of firms when they are deciding to close their branches. Firms are expected to carefully consider the impact of a planned closure on their customers’ everyday banking and cash access needs and consider possible alternative access arrangements. This seeks to ensure the implementation of closure decisions is done in a way that treats customers fairly. The Consumer Duty also requires that firms deliver “good outcomes” for customers.
Economic Secretary (HM Treasury)
The government welcomes representations from industry relating to capital markets and will continue to engage with a wide range of organisations on these issues.
At Autumn Statement, the Chancellor updated on his comprehensive package of ongoing regulatory reforms to support our capital markets and make the UK one of the most attractive places to start, grow and list a company. This includes: delivering Lord Hill’s central recommendation, laying legislation to fundamentally overhaul the UK’s prospectus regime; putting in place a consolidated tape to improve market data; launching a financial market infrastructure sandbox to test distributed ledger technology and; making fundamental changes to short selling. The FCA and government are also engaging industry stakeholders to take forward the recommendations of the Investment Research Review.
Supporting these capital market reforms, the Chancellor also announced that the government will explore options for a NatWest retail share offer in the next 12 months, subject to supportive market conditions and achieving value for money.
Together with the pension investment package announced at Autumn Statement, the government’s actions will boost growth in the UK’s capital markets and high-growth companies, while improving savers outcomes and investment.
Parliamentary Secretary (HM Treasury)
There are no red-rated IT systems used in His Majesty’s Treasury.
Exchequer Secretary (HM Treasury)
The Government is committed to the right of individuals to freely practise their religion. That is why in June 2023, building on the work of the Places of Worship Protective Security Funding Scheme, the Security Minister pledged £24.5 million of funding in 2023-24 to protect mosques and Muslim faith schools through the Protective Security for Mosques Scheme, providing security measures like CCTV and intruder alarms. In light of the crisis in Israel and Gaza, the Home Secretary announced in October that the Government will grant an additional £3 million to the Community Security Trust to support Jewish communities in the UK. At the Autumn Statement, the Chancellor announced that this would be extended to 2024-25. The Home Office has also increased available funding for the Protective Security for Mosques Scheme by 20%
The Government is also taking strides to combat ethnic discrimination and hate crime. Through the Online Safety Act 2023, we are compelling social media companies to tackle discriminatory content posted on their platforms. The also Government provides £300,000 in annual grant funding to the National Online Hate Crime Hub, which provides expert advice to police investigating hate crimes.
Chief Secretary to the Treasury
The Government is committed to the right of individuals to freely practise their religion. That is why in June 2023, building on the work of the Places of Worship Protective Security Funding Scheme, the Security Minister pledged £24.5 million of funding in 2023-24 to protect mosques and Muslim faith schools through the Protective Security for Mosques Scheme, providing security measures like CCTV and intruder alarms. In light of the crisis in Israel and Gaza, the Home Secretary announced in October that the Government will grant an additional £3 million to the Community Security Trust to support Jewish communities in the UK. At the Autumn Statement, the Chancellor announced that this would be extended to 2024-25. The Home Office has also increased available funding for the Protective Security for Mosques Scheme by 20%
The Government is also taking strides to combat ethnic discrimination and hate crime. Through the Online Safety Act 2023, we are compelling social media companies to tackle discriminatory content posted on their platforms. The also Government provides £300,000 in annual grant funding to the National Online Hate Crime Hub, which provides expert advice to police investigating hate crimes.
Chief Secretary to the Treasury
The Government is committed to the right of individuals to freely practise their religion. That is why in June 2023, building on the work of the Places of Worship Protective Security Funding Scheme, the Security Minister pledged £24.5 million of funding in 2023-24 to protect mosques and Muslim faith schools through the Protective Security for Mosques Scheme, providing security measures like CCTV and intruder alarms. In light of the crisis in Israel and Gaza, the Home Secretary announced in October that the Government will grant an additional £3 million to the Community Security Trust to support Jewish communities in the UK. At the Autumn Statement, the Chancellor announced that this would be extended to 2024-25. The Home Office has also increased available funding for the Protective Security for Mosques Scheme by 20%
The Government is also taking strides to combat ethnic discrimination and hate crime. Through the Online Safety Act 2023, we are compelling social media companies to tackle discriminatory content posted on their platforms. The also Government provides £300,000 in annual grant funding to the National Online Hate Crime Hub, which provides expert advice to police investigating hate crimes.
Chief Secretary to the Treasury
The Government is committed to the right of individuals to freely practise their religion. That is why in June 2023, building on the work of the Places of Worship Protective Security Funding Scheme, the Security Minister pledged £24.5 million of funding in 2023-24 to protect mosques and Muslim faith schools through the Protective Security for Mosques Scheme, providing security measures like CCTV and intruder alarms. In light of the crisis in Israel and Gaza, the Home Secretary announced in October that the Government will grant an additional £3 million to the Community Security Trust to support Jewish communities in the UK. At the Autumn Statement, the Chancellor announced that this would be extended to 2024-25. The Home Office has also increased available funding for the Protective Security for Mosques Scheme by 20%
The Government is also taking strides to combat ethnic discrimination and hate crime. Through the Online Safety Act 2023, we are compelling social media companies to tackle discriminatory content posted on their platforms. The also Government provides £300,000 in annual grant funding to the National Online Hate Crime Hub, which provides expert advice to police investigating hate crimes.
Chief Secretary to the Treasury
At the Autumn Statement, the government announced that Local Housing Allowance (LHA) rates will be increased from April 2024 to cover the lower 30% of local rents. This will make 1.6 million low-income households in Great Britain better off, with an average gain of £800 in 2024/25.
This measure will support household incomes and help tackle child poverty, reaffirming government’s commitment to those in the most challenging financial position.
Chief Secretary to the Treasury
Efficiency and productivity are important priorities for this government.
In June, the Chancellor announced the Public Sector Productivity Programme, as a means of assessing how productivity can be improved. An update on the programme was provided in the Autumn Statement, which includes the finding that frontline workers can spend up to 8 hours a week on administrative tasks. The programme is exploring ways to reduce this number so they can continue doing what they do best, keeping us safe and treating us when we are sick. I will continue leading on boosting productivity in the public sector, with work continuing through to the next Spending Review.
Chief Secretary to the Treasury
The government has recently consulted on potential future measures to mitigate carbon leakage risks, including the potential for a UK Carbon Border Adjustment Mechanism (CBAM). The consultation received more than 160 responses from the UK and overseas, including responses from a range of industry sectors and from civil society. The government is considering the evidence to inform policy decisions and will respond in due course.
Parliamentary Secretary (HM Treasury)
The Government announced further policies at Autumn Statement 2023 to support the most vulnerable: From 1 April 2024, the Government is increasing the NLW by 9.8% for 2.7 million low paid workers. Local Housing Allowance rates will rise to the 30th percentile of local market rents in April 2024 for 1.6 million households. The government will also uprate all working age benefits in full by September 2023 CPI of 6.7%, benefitting 5.5 million households in 2024-25. This brings the total support over 2022-2025 to help households with the high cost of living to £104 billion – an average of £3,700 per UK household.
As part of the Government’s long-term plan to grow the economy and reform the tax system, employees will see their main National Insurance Contribution (NICs) rate cut from 12% to 10% from January 2024 onwards, and the main rate of Class 4 NICs for the self-employed will be reduced from 9% to 8% from April 2024. This is a tax cut worth over £9bn per year, the largest ever cut to employee and self-employed National Insurance.
Parliamentary Secretary (HM Treasury)
To answer part (a) of the question: The total salary bill for the civil service can be approximately calculated using data from Cabinet Office owned national statistics, Civil Service Statistics. A link to the latest Civil Service Statistics is available here:
Part (b) asks about public administration from budgetary tables published in HM Treasury’s Public Expenditure Statistical Analyses (PESA) it is possible to obtain administrative spending by government departmental group. Please refer to Table 1.7 within the link to PESA 2023 below:
https://www.gov.uk/government/statistics/public-expenditure-statistical-analyses-2023
In-year expenditure data for 2023-24, from which it is possible to obtain administration budgets, are available from HM Treasury’s OSCAR Transparency release. A link is provided below:
https://www.gov.uk/government/publications/oscar-ii-publishing-data-from-the-database-september-2023
Chief Secretary to the Treasury
The Government is committed to a pragmatic, proportionate, and realistic approach to meeting all our net zero commitments that eases the burdens on families.
In keeping with Green Book guidance, HMT considers the distributional impacts of policy where there may be significant redistributive effects. The Net Zero Review, published in 2021, included analysis to help understand households’ exposure to the net zero transition.
The UK is also delivering on our commitment to spend £11.6bn International Climate Finance between 2021/22 and 2025/26, ensuring a balance between adaptation and mitigation and including at least £3bn on protecting and restoring nature. The OECD has indicated that it is likely that donors met the $100bn climate finance goal for the first time in 2022, based on preliminary data. We regret that the $100bn goal is being met later than expected. However, it is important to recognise that significant progress has been made.
Exchequer Secretary (HM Treasury)
The Government publishes tax information and impact notes for tax policy changes when the policy is final or near final. The summary of impacts from the changes to alcohol duty at Spring Budget 2023 can be found here: https://www.gov.uk/government/publications/increase-in-alcohol-duty-rates/alcohol-duty-uprating
The Government will evaluate the impact of the new rates and structures three years after the changes took effect on 1 August 2023. This will allow time to understand the impacts in the alcohol market and for HMRC to gather useful and accurate data with which to evaluate.
Exchequer Secretary (HM Treasury)
HM Revenue and Customs (HMRC) estimates the size of the tax gap, which is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. The tax gap statistics are published annually and are available at: Measuring tax gaps - Measuring tax gaps 2023 edition: tax gap estimates for 2021 to 2022 - GOV.UK (www.gov.uk)
HMRC does not separately estimate a betting and gaming duty tax gap; it forms part of the ‘other excise duties’ tax gap, namely betting and gaming, cider and perry, spirits-based ready-to-drink beverages and wine duties gaps.
Financial Secretary (HM Treasury)
The UK strongly supports developing countries’ efforts to scale-up domestic resource mobilisation to finance sustainable development.
The International Development White Paper published on Monday 20th November commits to building a stronger and fairer international tax system for all.
However, the UK, alongside many other countries, is concerned that proceeding with a UN convention on international tax at this time would not be the most effective way to achieve these goals. An Explanation of vote was published on GOV.UK on 22 November: https://www.gov.uk/government/speeches/the-uk-is-committed-to-building-a-fairer-international-tax-system-for-all-uk-statement-at-the-un-second-committee.
Financial Secretary (HM Treasury)
Approved Mileage Allowance Payments (AMAPs) are used by employers to reimburse an employee’s expenses for business mileage in their private vehicle. These rates are also used by self-employed drivers to claim tax relief on business mileage (simplified motoring expenses). The AMAP rates are not mandatory, and employers can choose to pay more or less than the AMAP rate. It is therefore ultimately up to employers to determine the rate at which they reimburse their employees.
Like all taxes and allowances, the Government keeps the AMAP rate under review, and in considering changes to the AMAP/simplified motoring expenses rates, the Government has to balance support for individuals with the responsible management of public finances, which fund our essential public services. Any changes will be announced at a future fiscal event.
However, the Government recognises that transport is a major cost for individuals and families. At Spring Statement 2022 the Government announced a temporary 12-month cut to duty on petrol and diesel of 5p per litre. In order to continue supporting all motorists, the Government extended the 5p fuel duty cut, which is worth £100 to the average driver over the year.
Exchequer Secretary (HM Treasury)