HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
Oral Answers to Questions is a regularly scheduled appearance where the Secretary of State and junior minister will answer at the Dispatch Box questions from backbench MPs
Other Commons Chamber appearances can be:Westminster Hall debates are performed in response to backbench MPs or e-petitions asking for a Minister to address a detailed issue
Written Statements are made when a current event is not sufficiently significant to require an Oral Statement, but the House is required to be informed.
HM Treasury does not have Bills currently before Parliament
A Bill to make provision in connection with finance.
This Bill received Royal Assent on 18th March 2026 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and 31 March 2027; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2025 and 31 March 2026.
This Bill received Royal Assent on 18th March 2026 and was enacted into law.
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2025.
This Bill received Royal Assent on 21st July 2025 and was enacted into law.
A Bill to make provision about secondary Class 1 contributions.
This Bill received Royal Assent on 3rd April 2025 and was enacted into law.
A Bill to make provision about finance.
This Bill received Royal Assent on 20th March 2025 and was enacted into law.
A Bill to amend the Crown Estate Act 1961.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.
This Bill received Royal Assent on 16th January 2025 and was enacted into law.
A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.
This Bill received Royal Assent on 10th September 2024 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.
This Bill received Royal Assent on 30th July 2024 and was enacted into law.
e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.
If an e-petition reaches 10,000 signatures the Government will issue a written response.
If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
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.
Bank authorisations are a matter for the independent Prudential Regulation Authority.
As set out in the Government’s Financial Services Growth and Competitiveness Strategy, the UK aims to be the world’s most technologically advanced global financial centre, and to remain a leading jurisdiction for Fintech firms to start up, scale and list.
The Strategy set out a comprehensive package of reforms to maintain the UK’s global leadership in Fintech. This includes creating a competitive regulatory environment by working with UK regulators to make it quicker and easier for new firms to achieve regulatory authorisation.
As required by the Sovereign Grant Act 2011, the next review of the Sovereign Grant is taking place this year. Further detail will be announced in due course.
The Government is committed to bringing forward legislation to reset the Grant to a lower level from 2027-28 once Buckingham Palace reservicing works are completed.
As required by the Sovereign Grant Act 2011, the next review of the Sovereign Grant is taking place this year. Further detail will be announced in due course.
The Government is committed to bringing forward legislation to reset the Grant to a lower level from 2027-28 once Buckingham Palace reservicing works are completed.
Insurers make commercial decisions about pricing and the terms of cover they offer based on their assessment of the relevant risks.
However, the government is determined that insurers treat customers fairly and insurers must comply with relevant legislation, including the Equality Act 2010. The Act generally prohibits discrimination based on certain personal characteristics, though the law accepts that some exceptions apply for insurance.
The Financial Conduct Authority’s (FCA) rules also require insurers to treat customers fairly. The FCA requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive). The FCA has robust powers to monitor firms and, where necessary, to take action against firms that do not comply with its rules.
The Government also seeks to ensure that people are able to access the financial products they need. That is why I published a Financial Inclusion Strategy in November which includes interventions to increase household financial resilience through insurance and help people find the right insurance product for their needs.
The Financial Conduct Authority (FCA), as the independent regulator for financial services, sets the conduct standards required of insurance firms. This includes rules requiring insurers to handle claims fairly and promptly.
The Supreme Court published its final judgment in the FCA’s Business Interruption Insurance test case in 2021. At the time of the judgment, the FCA set out its expectation that insurers should communicate to all impacted policyholders what the judgment meant for their claim and should move quickly to resolve claims as determined by the judgment.
The FCA court case did not cover all potential issues with business interruption policies. The FCA has been clear that, in the event of further court rulings, insurers will need to consider carefully how the rulings impact claims they have already decided.
The FCA considered the issue of new ‘stop the clock’ guidance as part of its response to Stewarts LLP on 23 January. The FCA was clear that insurers must look at claims that have already been made in light of any new legal rulings to see if any action must be taken. Where no claim has been submitted, it is not clear why an insurer would not be able to rely on relevant time limits set out in the insurance policy, subject to the particular circumstances of each claim and compliance with the FCA’s broader rules.
The FCA is continuing to supervise firms to ensure they are meeting their expectations and has robust powers to take action where necessary.
The Financial Conduct Authority (FCA), as the independent regulator for financial services, sets the conduct standards required of insurance firms. This includes rules requiring insurers to handle claims fairly and promptly.
The Supreme Court published its final judgment in the FCA’s Business Interruption Insurance test case in 2021. At the time of the judgment, the FCA set out its expectation that insurers should communicate to all impacted policyholders what the judgment meant for their claim and should move quickly to resolve claims as determined by the judgment.
The FCA court case did not cover all potential issues with business interruption policies. The FCA has been clear that, in the event of further court rulings, insurers will need to consider carefully how the rulings impact claims they have already decided.
The FCA considered the issue of new ‘stop the clock’ guidance as part of its response to Stewarts LLP on 23 January. The FCA was clear that insurers must look at claims that have already been made in light of any new legal rulings to see if any action must be taken. Where no claim has been submitted, it is not clear why an insurer would not be able to rely on relevant time limits set out in the insurance policy, subject to the particular circumstances of each claim and compliance with the FCA’s broader rules.
The FCA is continuing to supervise firms to ensure they are meeting their expectations and has robust powers to take action where necessary.
As set out in the Government’s Financial Services Growth and Competitiveness Strategy, the UK aims to be the world’s most technologically advanced global financial centre, and to remain a leading jurisdiction for Fintech firms to start up, scale and list.
The Strategy set out a comprehensive package of reforms to maintain the UK’s global leadership in Fintech. This includes creating a competitive regulatory environment by making it quicker and easier for new firms to achieve regulatory authorisation, as well as welcoming the City of London Corporation and the British Business Bank facilitating greater access to finance. The Financial Conduct Authority and Prudential Regulation Authority have launched a joint Scale-Up Unit to enhance engagement with fast-growing innovative firms.
Research England is also supporting activity in FinTech through the INFINITY programme, a partnership led by the University of Nottingham and the University of Birmingham to help researchers explore commercial opportunities in financial technology. There has been good engagement so far, with over 100 research projects developing their business potential and a number of ventures now progressing towards market.
The Government has not made a formal assessment of the impact of Fintech investment platforms on competition, costs and investment choice in the self-invested personal pensions (SIPPs) market.
The Financial Conduct Authority (FCA) is the regulator responsible for the SIPPs market. The FCA regularly reviews their relevant rules and regulations to ensure they are appropriate for the current market context. This includes supporting growth and innovation while maintaining appropriate regulatory safeguards to protect consumers.
As set out in the Government’s Financial Services Growth and Competitiveness Strategy, the UK aims to be the world’s most technologically advanced global financial centre, and to remain a leading jurisdiction for Fintech firms to start up, scale and list.
At £90,000, the UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD. This reflects the Government’s approach to balance the impacts on small businesses, with the needs of the wider economy and the public finances. Such a comparatively high threshold means the majority of UK businesses are not in the VAT system at all, reducing administrative burdens and supporting growth.
The 5p reduction in the Retail, Hospitality and Leisure (RHL) multipliers is worth nearly £1 billion per year and will benefit over 750,000 properties. Unlike RHL relief, the new multipliers are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.
The Government is paying for this through a high-value multiplier on the top one per cent of most expensive properties. This includes many large distribution warehouses, such as those used by online giants. The high value multiplier is 33% more than the multiplier for small RHL properties.
Legislation set the maximum reduction to 20p as the bounds within which the Government could choose to operate, rather than a commitment to reduce the multipliers by this amount.
The 5p reduction in the Retail, Hospitality and Leisure (RHL) multipliers is worth nearly £1 billion per year and will benefit over 750,000 properties. Unlike RHL relief, the new multipliers are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.
The Government is paying for this through a high-value multiplier on the top one per cent of most expensive properties. This includes many large distribution warehouses, such as those used by online giants. The high value multiplier is 33% more than the multiplier for small RHL properties.
Legislation set the maximum reduction to 20p as the bounds within which the Government could choose to operate, rather than a commitment to reduce the multipliers by this amount.
The Government is aware that Buy‑Now, Pay‑Later (BNPL) products have become a standard feature of digital wallets and online marketplaces, allowing consumers to defer payment at the point of sale. While these products can be a convenient way to help spread the cost of purchases, the lack of regulation has left some consumers exposed to harm, particularly through unaffordable borrowing.
To address this, in July 2025 Parliament passed legislation to bring BNPL products within Financial Conduct Authority (FCA) regulation. The new rules will take effect this July, with the FCA having confirmed the final regulatory requirements in February.
Under the new regulatory regime, BNPL firms will be required to carry out proportionate but robust affordability assessments before lending, informed by appropriate checks on consumers’ financial circumstances and existing borrowing commitments. Firms will also be required to provide clear, timely and prominent information on repayment terms, the consequences of missed payments, and what rights consumers have, enabling them to make informed decisions. In addition, consumers will gain access to established protections for credit users, including the Financial Ombudsman Service and section 75 rights under the Consumer Credit Act. Together, these measures will support the continued use of BNPL products while ensuring appropriate consumer safeguards are in place.
The Treasury, its Ministers and Special Advisers place the utmost importance on Budget information security. As set out in the Budget Information Security Review, Ministers, officials and Special Advisers act in line with the Macpherson Principles, the Civil Service Code and the Special Advisers’ Code.
Consistent with these principles, there are occasions where the Government will trail and/or announce policy ahead of a Budget to provide context and help the public understand major fiscal events.
Any such communications are tightly controlled, respect Parliament, and protect market-sensitive information.
For Budget 2025, Special Advisers acted in accordance with these rules and principles.
Spending classed as Annually Managed Expenditure will be provided to Northern Ireland to develop a comparable scheme to that developed in GB.
It is for the Northern Ireland Executive to decide how they would like to deliver a comparable offer. The UK Government is ready to review the business case once it has been submitted by the Northern Ireland Executive.
This Government is committed to a deep and enduring partnership with Spain – a partnership which we were pleased to strengthen through agreeing a strategic bilateral framework in September. This Government is also committed to supporting British businesses exporting to Spain and other European markets. During the Chancellor’s recent visit to Madrid, we agreed practical steps with Spain to make it easier for UK services professionals to travel to Spain, which could be worth around £250 million in additional UK services exports over five years.
This Government recognises the strategic imperative for deeper integration between the UK and EU – which shapes much of Spain’s regulatory regime – to strengthen resilience in the economy and stabilise trading conditions for businesses. As the Chancellor set out in her Mais lecture on 17 March, we will pursue an enhanced partnership with the EU to strengthen supply chains and reduce unnecessary frictions for businesses operating in European markets. This will include closer alignment with EU regulation where it is in the UK’s national interest.
The Government is also strengthening engagement with business on EU regulatory issues, and we are exploring how the UK and EU can work together more effectively on shared ambitions to reduce administrative burdens on business, consistent with the UK commitment to cut the administrative burden of regulation by 25% by the end of this Parliament.
As set out in the Memorandum of Understanding between HM Treasury and the Bank of England, the Bank of England is entirely responsible for the design, production, issue and distribution of banknotes. HM Treasury has not discussed images for banknote design with the Bank of England.
The Foreign, Commonwealth & Development Office is responsible for overall policy and the development of sanctions measures, and the UK’s response to international human rights abuses. This includes sanctions under the UK’s Global Human Rights sanctions regime.
HM Treasury has regular discussions with international partners on a range of multilateral issues.
The Banknote Character Advisory Committee, whose members had a five-year term starting in 2015, advised the Governor of the Bank of England on the choice of field and character for the current £20 and £50 banknotes.
In July 2025 the Bank of England asked the public for their views on what the theme should be for the next series of banknotes. The Bank of England decided the theme for the next series of banknotes based on the feedback from this public consultation and focus groups.
The Bank of England will launch another consultation in summer 2026 to seek the views of the public again on images for the next banknote. Further detail can be found on the Bank of England’s website.
The final decision about what imagery will appear on the next series of banknotes will be made by the Governor.
At Budget, the Chancellor confirmed the new FuelFinder service, which is now operational and will give consumers clear, real-time information so that they can find the cheapest fuel available.
The Chancellor has written to Sarah Cardell, Chief Executive of the CMA, expressing support for the CMA’s work to ensure customers are not affected by undue price rises, including for road fuel. See the letter here: Letter to the CMA on vigilance for unjustifiable price increases.
At Budget, the Chancellor confirmed the new FuelFinder service, which is now operational and will give consumers clear, real-time information so that they can find the cheapest fuel available.
The Chancellor has written to Sarah Cardell, Chief Executive of the CMA, expressing support for the CMA’s work to ensure customers are not affected by undue price rises, including for road fuel. See the letter here: Letter to the CMA on vigilance for unjustifiable price increases.
At Budget, the Chancellor confirmed the new FuelFinder service, which is now operational and will give consumers clear, real-time information so that they can find the cheapest fuel available.
The Chancellor has written to Sarah Cardell, Chief Executive of the CMA, expressing support for the CMA’s work to ensure customers are not affected by undue price rises, including for road fuel. See the letter here: Letter to the CMA on vigilance for unjustifiable price increases.
Last week the Chancellor announced that the UK is exploring a new defence mechanism for financing driving joint demand by 2027 with the Netherlands and Finland and other EU and NATO partners.
This is still in development with partners and will follow best international practice and relevant HM Government Guidance, including Managing Public Money.
Last week the Chancellor announced that the UK is exploring a new defence mechanism for financing driving joint demand by 2027 with the Netherlands and Finland and other EU and NATO partners.
This is still in development with partners and will follow best international practice and relevant HM Government Guidance, including Managing Public Money.
At Spring Forecast 2026 it was confirmed that the Scottish Government will receive £533 million Barnett consequentials in 2026-27, through the application of the Barnett formula to the grants for Local Authorities to address SEND deficits in England.
The Barnett formula applies mechanically to new funding for the Department for Education in 2028-29, to support reforms of the SEND system. This results in an additional £362 million for the Scottish Government in 2028-29.
At Spring Forecast 2026 it was confirmed that the Scottish Government will receive £533 million Barnett consequentials in 2026-27, through the application of the Barnett formula to the grants for Local Authorities to address SEND deficits in England.
The Barnett formula applies mechanically to new funding for the Department for Education in 2028-29, to support reforms of the SEND system. This results in an additional £362 million for the Scottish Government in 2028-29.
The government has acted quickly to provide £53m in timely, targeted support to vulnerable households, struggling with the rising price of heating oil, predominantly in rural communities.
The OBR’s Economic and Fiscal Outlook – published on the OBR’s website - sets out in detail the projected levels of total public expenditure over the next five years.
The government's public spending approach is fair, disciplined and controlled, helping to reduce borrowing and keep public finances on a sustainable path.
We know high energy costs are one of the greatest challenges facing industry and is a key barrier to growth in the UK.
In the Modern Industrial Strategy, we announced the new British Industrial Competitiveness Scheme, which will reduce electricity costs by c.£35-40/MWh up to 2030 and support thousands of businesses.
This forms part of a wider package of support to industry.
The Chancellor has regular discussions with the Secretary of State for Business and Trade on a range of topics.
HMT ministerial private offices hire an average 6.5 FTE per office. Staff are appointed at grades: AO, EO, HEO, SEO, G7, G6 and Deputy Director. Contracted working hours for these staff members are 37 hours per week.
Staff salaries for the appointed grades are typically between £26,200 - £117,800. Designated posts may also benefit from Private Office Allowance.
The average staff turnover over the last 3 years was between 20-30%, which can include staff on loans to HMT returning to their home departments, or individuals leaving to other government departments, including on promotion.
Staff members are supported to speak at, learn from and contribute to various conferences and meetings of valuation professionals here in the UK. We do not keep a central log of all these domestic activities.
The Government recognises the importance of the creative industries, and supports the sector through a range of tax reliefs which are among the most generous in the world, providing over £2.4 billion of support in 2023–24.
The reliefs support the sector with the cost of touring. Orchestra Tax Relief (OTR) provides a generous rate of 45 per cent tax relief on orchestral production costs – including the cost of domestic touring, such as transport and accommodation – and provided £50 million of support in 2023-24. There is currently no other country in the world which offers such a tax relief for orchestras. Theatre Tax Relief (TTR) and Museums and Galleries Exhibition Tax Relief (MGETR), provide a 40% rate of relief to non-touring productions but offer higher rates of relief (at 45%) for touring productions.
The Government carefully considers the design of the creative sector tax reliefs to ensure they are well targeted, effective in achieving their policy objectives, and represent value for money for the taxpayer.
The Government recognises the importance of the creative industries, and supports the sector through a range of tax reliefs which are among the most generous in the world, providing over £2.4 billion of support in 2023–24.
The reliefs support the sector with the cost of touring. Orchestra Tax Relief (OTR) provides a generous rate of 45 per cent tax relief on orchestral production costs – including the cost of domestic touring, such as transport and accommodation – and provided £50 million of support in 2023-24. There is currently no other country in the world which offers such a tax relief for orchestras. Theatre Tax Relief (TTR) and Museums and Galleries Exhibition Tax Relief (MGETR), provide a 40% rate of relief to non-touring productions but offer higher rates of relief (at 45%) for touring productions.
The Government carefully considers the design of the creative sector tax reliefs to ensure they are well targeted, effective in achieving their policy objectives, and represent value for money for the taxpayer.
As set out at Budget 2025, the High Value Council Tax Surcharge will be administered alongside existing Council Tax by local authorities, who will collect revenue. The Government will undertake a new burdens assessment to ensure costs to local authorities are fully funded.
In line with the Office for Budget Responsibility (OBR)'s mandate, the OBR did not provide a formal assessment of performance against the fiscal rules at the Spring forecast on 3 March. The fiscal rules will be formally assessed alongside the Budget.
As the Chancellor said in her speech to the House, the forecast shows headroom against the stability rule has increased since the Budget from £21.7bn at the Budget to £23.6bn in 2029-30, which is the target year, meaning greater resilience against shocks and stability in the economy. Headroom against the investment rule is also higher at £27.1bn in 2029-30.
As an independent body, the OBR has full discretion over its forecast methodology and the judgements underpinning its forecasts. As is standard, the March 2026 Economic and Fiscal Outlooks included sensitivity analysis around key economic variables and highlighted upside and downside risks to its central forecast
The independent Office for Budget Responsibility (OBR) published its latest Economic and Fiscal Outlook (EFO) on the 3rd March 2026. The OBR forecasts that the UK economy will grow by 1.1% in 2026, and will then grow at an average rate of 1.6% per year from 2027 to 2030.
The OBR set out in their EFO what they see as the key risks to the forecasts. In their press conference, the OBR emphasised that while the central forecast does not assume a renewed energy shock, the conflict represents the key downside risk.
The government’s economic strategy is focused on delivering long-term reform, ensuring the UK is better placed to withstand external shocks. This includes targeted investment to boost growth, support innovation, and strengthen trading relationships, alongside action to improve our labour market participation and skills. These interventions form part of a broader plan to raise productivity, expand economic capacity and support living standards across the UK, while strengthening our economic resilience in an age of global insecurity shaped by geopolitical tensions, including those involving Iran.
Alignment will be an iterative process and decisions will be based on the national interest principles set out by the Chancellor on 17 March. This means a decision to align will be made if:
- It promotes higher growth, investment, consumer benefits, and jobs for the long-term
- The future direction of policy is sufficiently stable and compatible, in terms of values and objectives
- The UK’s economic and national security and resilience is preserved or enhanced.
The Government is currently negotiating an agrifood deal that could add up to £5.1 billion a year to our economy and increase agricultural exports to the EU by 16 per cent.
Scheme managers of the individual public service pension schemes are responsible for ensuring the effective delivery of the McCloud remedy to affected members. I have written to scheme managers to remind them of their responsibilities to implement the remedy as quickly as possible and ensure that scheme members and the Pensions Regulator are kept informed of progress and plans.
The Equitable Life Payment Scheme has been fully wound down and closed since 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion as planned.
There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The Equitable Life Payment Scheme has been fully wound down and closed since 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion as planned.
There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The Equitable Life Payment Scheme has been fully wound down and closed since 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion as planned.
There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
The Government wants to see this issue resolved in an efficient and orderly way that provides certainty for consumers and firms.
The Financial Conduct Authority (FCA), as the independent regulator, has consulted on proposals for a motor finance consumer redress scheme. The FCA has announced that it will set out its final approach to motor finance redress on 30 March: https://www.fca.org.uk/news/statements/timing-fca-motor-finance-announcement.
The Government wants to see this issue resolved in an efficient and orderly way that provides certainty for consumers and firms.
The Financial Conduct Authority (FCA), as the independent regulator, has consulted on proposals for a motor finance consumer redress scheme. The FCA has announced that it will set out its final approach to motor finance redress on 30 March: https://www.fca.org.uk/news/statements/timing-fca-motor-finance-announcement.
The call for evidence response on credit union common bond reform in Great Britain was published on 18 March 2026. The call for evidence itself ran from November 2024 to March 2025 and was open to all to submit responses. As credit union policy is devolved to Northern Ireland, the measures announced in the government’s response apply only to Great Britain.
HM Treasury has kept the Northern Ireland Executive informed. The government has written to ministers in the Northern Ireland Executive to notify them of the legislative changes being taken forward in Great Britain. Treasury officials also engaged with counterparts in the Northern Ireland Executive during the call for evidence, and this engagement is continuing following publication of the response.
These reforms will modernise the common bond framework, support the growth of the credit union sector, and help ensure that it can continue to deliver positive outcomes for members and communities across Great Britain.
The Government recognises that cheques remain an important payment method for some people. Decisions on whether cheque deposits are accepted and processed through Post Office counters in banking hubs are commercial matters for individual banks, based on their arrangements with the Post Office and Cash Access UK, which operates banking hubs.
Most retail banks currently accept cheque deposits at banking hubs and the Government expects firms to ensure that customers can continue to access the services they need.
Where this service is not available at a banking hub counter, customers continue to have alternative options to pay in cheques, including at bank branches and by post, or digitally via mobile banking apps using cheque imaging technology.
Any customers affected by changes to cheque depositing services offered through banking hubs are encouraged to contact their bank directly to request information about the bank’s plans to support them.
The Government continues to engage with the banking industry banking industry, the Post Office and Cash Access UK to improve the consistency and level of services provided through banking hubs, so that they meet the needs of communities across the UK.
Leaving the EU increased costs for businesses and consumers, shrank markets for UK exporters, and left our strategic industries exposed. Since March 2020, the OBR has maintained its estimate that productivity will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU. Recent independent studies indicate its GDP impacts could be as much as 6% to 8%.
Aligning UK and EU regulations can reduce some of these frictions, enlarging the market for UK firms, supporting growth in trade and the jobs linked to it.
Leaving the EU increased costs for businesses and consumers, shrank markets for UK exporters, and left our strategic industries exposed. Since March 2020, the OBR has maintained its estimate that productivity will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU. Recent independent studies indicate its GDP impacts could be as much as 6% to 8%.
Aligning UK and EU regulations can reduce some of these frictions, enlarging the market for UK firms, supporting growth in trade and the jobs linked to it.
Leaving the EU increased costs for businesses and consumers, shrank markets for UK exporters, and left our strategic industries exposed. Since March 2020, the OBR has maintained its estimate that productivity will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU. Recent independent studies indicate its GDP impacts could be as much as 6% to 8%.
Aligning UK and EU regulations can reduce some of these frictions, enlarging the market for UK firms, supporting growth in trade and the jobs linked to it.