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.



Secretary of State

 Portrait

John Healey
Chancellor of the Exchequer

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

Liberal Democrat
Charlie Maynard (LD - Witney)
Liberal Democrat Spokesperson (Chief Secretary to the Treasury)

Green Party
Ellie Chowns (Green - North Herefordshire)
Green Spokesperson (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Lord Altrincham (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
Emma Reynolds (Lab - Wycombe)
Chief Secretary to the Treasury
James Murray (LAB - Ealing North)
Financial Secretary to the Treasury and Paymaster General
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
Lord Pitt-Watson (Lab - Life peer)
Parliamentary Secretary (HM Treasury)
There are no upcoming events identified
Debates
Wednesday 2nd September 2026
Select Committee Inquiry
Tuesday 31st January 2023
Quantitative tightening

This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …

Written Answers
Friday 4th September 2026
Council Tax: Surcharges
To ask the Chancellor of the Exchequer, with reference to the answer of 21 April 2026, to Question 126749, on …
Secondary Legislation
Wednesday 15th July 2026
Finance Act 2026 (Registration of Tax Advisers) (Exceptions) Regulations 2026
These Regulations amend Schedule 20 to the Finance Act 2026, which sets out exceptions from the requirement for tax advisers …
Bills
Tuesday 1st September 2026
Sovereign Grant Bill 2026-27
A Bill to Specify the amount of the Sovereign Grant for the financial year 2027-28 and the percentage of the …
Dept. Publications
Thursday 3rd September 2026
09:30

Research

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.

Most Recent Commons Appearances by Category
Jun. 23
Oral Questions
May. 21
Urgent Questions
May. 20
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

HM Treasury does not have Bills currently before Parliament


Acts of Parliament created in the 2024 Parliament

Introduced: 30th June 2026

A Bill to authorise the use of resources for the year ending with 31 March 2027; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2026.

This Bill received Royal Assent on 15th July 2026 and was enacted into law.

Introduced: 24th June 2026

A Bill to Increase the rate of electricity generator levy and mileage amounts relating to income tax and to provide for temporary rates of vehicle excise duty for goods vehicles.

This Bill received Royal Assent on 15th July 2026 and was enacted into law.

Introduced: 4th December 2025

A Bill to Make provision to amend section 4 of the Social Security Contributions and Benefits Act 1992, and section 4 of the Social Security Contributions and Benefits (Northern Ireland) Act 1992, so that amounts of salary sacrificed for employer pensions contributions pursuant to optional remuneration arrangements are liable to national insurance contributions.

This Bill received Royal Assent on 29th April 2026 and was enacted into law.

Introduced: 2nd December 2025

A Bill to make provision in connection with finance.

This Bill received Royal Assent on 18th March 2026 and was enacted into law.

Introduced: 4th March 2026

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.

Introduced: 25th June 2025

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.

Introduced: 13th November 2024

A Bill to make provision about secondary Class 1 contributions.

This Bill received Royal Assent on 3rd April 2025 and was enacted into law.

Introduced: 6th November 2024

A Bill to make provision about finance.

This Bill received Royal Assent on 20th March 2025 and was enacted into law.

Introduced: 25th July 2024

A Bill to amend the Crown Estate Act 1961.

This Bill received Royal Assent on 11th March 2025 and was enacted into law.

Introduced: 5th March 2025

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.

Introduced: 6th November 2024

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.

Introduced: 18th July 2024

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.

Introduced: 24th July 2024

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

These Regulations amend Schedule 20 to the Finance Act 2026, which sets out exceptions from the requirement for tax advisers to register with HMRC.
These Regulations amend the Customs Tariff (Suspension of Import Duty Rates) (EU Exit) Regulations 2020 (S.I. 2020/1435) (“the 2020 SI”). Regulation 2(2) amends the definition of “Suspensions of Import Duty Rates Document” in regulation 2 of the 2020 SI to refer to a new version of that document. The new version of that document has been revised to implement new suspensions granted as a result of the 2025 to 2026 application window for business suspensions. This new version of the document also makes routine technical and descriptive updates, and corrects minor errors.
View All 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).

Trending Petitions
Petition Open
67,667 Signatures
(2,085 in the last 7 days)
Petition Open
1,224 Signatures
(1,169 in the last 7 days)
Petition Open
1,734 Signatures
(909 in the last 7 days)
Petition Open
852 Signatures
(352 in the last 7 days)
Petitions with most signatures
Petition Debates Contributed

Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.

We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.

We want the government to introduce a new tax code for state pensioners, set at double the basic threshold. If this was implemented, pensioners would receive a higher tax-exempt limit, but wealthier pensioners would still pay tax.

View All HM Treasury Petitions

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
Meg Hillier Portrait
Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)
Treasury Committee Member since 9th September 2024
Yuan Yang Portrait
Yuan Yang (Labour - Earley and Woodley)
Treasury Committee Member since 21st October 2024
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 21st October 2024
John Glen Portrait
John Glen (Conservative - Salisbury)
Treasury Committee Member since 21st October 2024
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 21st October 2024
Bobby Dean Portrait
Bobby Dean (Liberal Democrat - Carshalton and Wallington)
Treasury Committee Member since 28th October 2024
Chris Coghlan Portrait
Chris Coghlan (Liberal Democrat - Dorking and Horley)
Treasury Committee Member since 28th October 2024
John Grady Portrait
John Grady (Labour - Glasgow East)
Treasury Committee Member since 9th December 2024
Catherine West Portrait
Catherine West (Labour - Hornsey and Friern Barnet)
Treasury Committee Member since 27th October 2025
Jim Dickson Portrait
Jim Dickson (Labour - Dartford)
Treasury Committee Member since 27th October 2025
Julie Minns Portrait
Julie Minns (Labour - Carlisle)
Treasury Committee Member since 22nd June 2026
Treasury Committee: Upcoming Events
Treasury Committee - Oral evidence
Bank of England Monetary Policy Reports
8 Sep 2026, 2 p.m.
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Work of HM Revenue and Customs
9 Sep 2026, 2 p.m.
View calendar - Save to Calendar
Treasury Committee: Previous Inquiries
The Financial Conduct Authority’s Regulation of London Capital & Finance plc Budget 2021 Work of National Savings and Investments Lessons from Greensill Capital Appointment of Carolyn Wilkins to the Financial Policy Committee Appointment of Tanya Castell to the Prudential Regulatory Committee The work of the Prudential Regulation Authority Reappointment of Jill May and Julia Black to the Prudential Regulation Committee Committee on COP26: climate change and finance Spring Budget 2020 Appointment of Sarah Breeden to the Financial Policy Committee Appointment of Catherine Mann to the Monetary Policy Committee Reappointment of Jonathan Haskel to the Monetary Policy Committee Bank of England July Financial Stability Report and August Monetary Policy Report Economic Crime Regional Imbalances in the UK economy The Work of the Debt Management Office Appointment of Richard Hughes as Chair of the Office for Budget Responsibility Reappointment of Professor Silvana Tenreyro to the Monetary Policy Committee Reappointment of Andy Haldane to the Monetary Policy Committee Appointment of Jonathan Hall to the Financial Policy Committee Appointment of Nikhil Rathi as Chief Executive of the Financial Conduct Authority Maxwellisation inquiry The work of National Savings and Investments inquiry Retail Banking Market Review inquiry HMRC Executive Chair and Chief Executive Financial stability one-off hearing Appointment of the CEO of Financial Conduct Authority Bank of England Financial Stability Report Hearings 2016-17 UK's future economic relationship with the EU inquiry Appointment of Deputy Governor for Prudential Regulation EU Insurance Regulation inquiry HM Treasury: Report and Accounts 2015 – 2016 Appointment of Michael Saunders to the Monetary Policy Committee Appointment of Anil Kashyap to the Financial Policy Committee Tax credits, fraud and error inquiry The work of the Chancellor of the Exchequer inquiry Bank of England Inflation Report Hearing August 2016 Prudential Regulation Authority inquiry Sir Charles Bean appointment to Budget Responsibility Committee UK tax policy and the tax base inquiry Government Internal Audit Agency inquiry HM Treasury Annual Report and Accounts 2014-15 inquiry Valuation Office Agency inquiry Independent review of report into failure of HBOS inquiry Review of the Office for National Statistics inquiry Appointment of Angela Knight as Chair of the Office for Tax Simplification Appointment of Tim Parkes as Chair of Regulatory Decisions Committee Budget 2016 inquiry Financial Policy Committee re-appointment hearings Bank of England Inflation Report Hearing May 2016 Work of the Court of the Bank of England inquiry Bank of England Inflation Report Hearing February 2017 Appointment of the Deputy Governor for Markets and Banking Budget 2017 inquiry Restoration and Renewal of the Palace of Westminster inquiry Capital inquiry Work of the Payment Systems Regulator inquiry Effectiveness and impact of post-2008 UK monetary policy Access to basic retail financial services inquiry Financial Conduct Authority inquiry Bank of England Inflation Report Hearing November 2016 UK Financial Investments annual reports and accounts 2015-16 Housing Policy inquiry Autumn Statement 2016 Household finances: income, saving and debt inquiry Bank of England Inflation Reports inquiry Budget Autumn 2017 inquiry Student Loans inquiry The UK's economic relationship with the European Union inquiry The work of the Bank of England inquiry The work of the Financial Conduct Authority The work of the National Infrastructure Commission inquiry Women in finance inquiry Appointment of Professor Silvana Tenreyro to the Monetary Policy Committee Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking, Bank of England The work of the Chancellor of the Exchequer EU Insurance Regulation inquiry HMRC Annual Report and Accounts inquiry Re-appointment of Professor Anil Kashyap to the Financial Policy Committee inquiry Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England inquiry The effectiveness of gender pay gap reporting inquiry Decarbonisation of the UK Economy and Green Finance inquiry Regional Imbalances in the UK Economy inquiry Work of the Financial Services Compensation Scheme inquiry Spending Round 2019 inquiry Access to Cash Review inquiry Appointment of Kathryn Cearns as Chair of the Office of Tax Simplification inquiry The future of the UK’s financial services inquiry The impact of Business Rates on business inquiry Spring Statement 2019 inquiry The work of the Adjudicator’s Office inquiry The work of the Debt Management Office inquiry Independent Review of the Co-Operative Bank inquiry Work of the Court of the Bank of England inquiry Tax enquiries and resolution of tax disputes inquiry IT failures in the financial services sector inquiry Work of the Banking Standards Board inquiry Independent Review of the Financial Ombudsman Service Appointment of Bradley Fried as Chair of Court, Bank of England Appointment of Professor Jonathan Haskel to the Monetary Policy Committee Andy King, Nominated Member of the Budget Responsibility Committee Re-appointment of Dr Gertjan Vlieghe to the Monetary Policy Committee Maxwellisation inquiry Work of the Valuation Office Agency inquiry Appointment of Julia Black as external member of the Prudential Regulation Committee Appointment of Jill May as an external member of the Prudential Regulation Committee Consumers’ Access to Financial Services inquiry The re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at the Bank of England inquiry Budget 2018 inquiry The Work of the Treasury inquiry Service Disruption at TSB inquiry Economic Crime inquiry Re-appointment of Alex Brazier to the Financial Policy Committee Re-appointment of Donald Kohn to the Financial Policy Committee Re-appointment of Martin Taylor to the Financial Policy Committee VAT inquiry Spring Statement 2018 Digital Currencies inquiry Appointment of Charles Randell as Chair of the Financial Conduct Authority SME Finance inquiry Appointment of Elisabeth Stheeman to the Bank of England Financial Policy Committee The work of the Prudential Regulation Authority inquiry Bank of England Financial Stability Reports RBS's Global Restructuring Group and its treatment of SMEs inquiry Childcare inquiry The work of the Payment Systems Regulator inquiry HM Treasury Annual Report and Accounts inquiry Women in the City Crown Estate Cheques, the end of? Mortgage Arrears and Access to Mortgage Finance: Follow up Financial Institutions - Too Important To Fail? Budget 2010 Credit Searches European Macro and Micro Prudential Financial Regulation Presbyterian Mutual Society Pre-Budget Report 2009 Budget 2009 Pre-Budget Report 2008 Budget 2008 Pre-Budget Report 2007 Mortgage Arrears and Access to Mortgage Finance Evaluating the Efficiency Programme Administration and expenditure of the Chancellor’s Departments, 2008-09 Banking Crisis Banking Crisis: International Dimensions Banking Reform Run on the Rock Budget June 2010 Competition and choice in the banking sector Office for Budget Responsibility Financial Regulation Spending Review 2010 Administration and effectiveness of HMRC The principles of tax policy Retail Distribution Review European financial regulation Autumn forecast 2010 Accountability of the Bank of England Private Finance Initiative Budget 2011 Future of Cheques Independent Commission on Banking: Interim Report Closing the tax gap: HMRC's record at ensuring tax compliance Budget Measures and Low-income Households Financial Conduct Authority Inherited Estates Counting the population Administration and expenditure of the Chancellor's Departments, 2006-07 Comprehensive Spending Review 2007 Administration and expenditure of the Chancellor's Departments, 2007-08 Independent Commission on Banking: Final Report Global Imbalances Autumn Statement 2011 Budget 2012 Corporate governance and remuneration Money Advice Service LIBOR FSA's report into HBOS Spending Round 2013 Project Verde Macroprudential tools Disposal of Government Stakes in RBS and Lloyds Credit Rating Agencies Autumn Statement 2012 Appointment of Dr Mark Carney as Governor of the Bank of England Budget 2013 Quantitative easing Private Finance 2 Autumn Statement 2013 Bank of England Financial Stability Report hearings: Session 2014-15 Appointment hearings, Session 2013-14 Bank of England Inflation Report Hearings: Session 2013-14 EU Financial Regulation Monetary Policy: Forward Guidance UK Financial Investments Ltd 2013 The economics of HS2 SME Lending Financial Conduct Authority hearings The costing of pre-election policy proposals Performance of the Royal Mint Budget 2014 The economics of currency unions OBR: July 2013 Fiscal Sustainability Report Banks' Lending Practices: Treatment of Businesses in Distress RBS Independent Lending Review Prudential Regulation Authority Hearings: Session 2014-15 HM Treasury Annual Report and Accounts 2013-14 Treatment of Financial Services Consumers Bank of England Inflation Report Hearings: Session 2014-15 HMRC Business Plan 2014-16 Manipulation of Benchmarks Appointment hearings, Session 2014-15 Co-op Governance Review Cost effectiveness of economic and financial sanctions Bank of England Financial Stability Report Hearings 2015-16 Bank of England Inflation Report Hearings 2015-16 Summer Budget 2015 inquiry UK Financial Investments Ltd Annual Report and Accounts 14-15 Review of scope and performance of Office for Budget Responsibility Bank of England Bill inquiry Chair of Office for Budget Responsibility reappointment hearing HMRC Annual Report and Accounts 2014-15 inquiry Prudential Regulation Authority inquiry Comprehensive Spending Review and Autumn Statement 2015 inquiry Review of CMA work on Retail Banking Market one-off session Financial Conduct Authority Practitioner Panels one-off session Appointment of Gertjan Vlieghe to the Monetary Policy Committee hearing Reappointment of Ian McCafferty to the Monetary Policy Committee hearing Financial Conduct Authority Economic and financial costs and benefits of UK's EU membership Crown Estate Annual Report and Accounts 2013/14 Bank of England Foreign Exchange Market Investigation HM Revenue and Customs and HSBC Budget 2015 The UK's EU Budget Contributions Press briefing of information in the Financial Conduct Authority’s 2014/15 Business Plan Fair and Effective Markets Review The Payment Systems Regulator Implementing the recommendations on the Parliamentary Commission on Banking Standards Autumn Statement 2014 Work of the Tax Assurance Commissioner UK Financial Investments Ltd Proposals for further Fiscal and Economic Devolution to Scotland Debt Management Office Annual Report and Accounts 2013-14 UK Customs Policy Infrastructure The cost of living The venture capital market The crypto-asset industry Tax Reliefs September 2022 Fiscal Event The Financial Services and Markets Bill The mortgage market The Edinburgh Reforms Quantitative tightening Retail Banks Appointment of Andrew Bailey as Governor of the Bank of England Work of Government Actuary’s Department Work of the Financial Ombudsman Service Work of HM Treasury Future of Financial Services Spending Review 2020 HMRC Annual Report and Accounts Bank of England Financial Stability Reports The appointment of John Taylor to the Prudential Regulation Committee UK’s economic and trading relationship with the EU The appointment of Antony Jenkins to the Prudential Regulation Committee Access to Cash Review Bank of England Financial Stability Reports Bank of England Inflation Reports Consumers’ Access to Financial Services Decarbonisation of the UK Economy and Green Finance Economic Crime The effectiveness of gender pay gap reporting HMRC Annual Report and Accounts inquiry Tax enquiries and resolution of tax disputes IT failures in the financial services sector Appointment of Dame Colette Bowe to the Financial Policy Committee Re-appointment of Professor Anil Kashyap to the Financial Policy Committee Work of the Financial Services Compensation Scheme Spending Round 2019 The impact of Business Rates on business Work of the Court of the Bank of England Independent Review of the Co-Operative Bank Regional Imbalances in the UK Economy Re-appointment of Michael Saunders to the Monetary Policy Committee Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England Maxwellisation RBS's Global Restructuring Group and its treatment of SMEs SME Finance Spring Statement 2019 The future of the UK’s financial services HM Treasury Annual Report and Accounts Service Disruption at TSB The UK's economic relationship with the European Union VAT The work of the Bank of England The work of the Chancellor of the Exchequer The work of the Financial Conduct Authority The Work of the Treasury The work of the Prudential Regulation Authority

50 most recent Written Questions

(View all written questions)
Written Questions can be tabled by MPs and Lords to request specific information information on the work, policy and activities of a Government Department

15th Jul 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the adequacy of the capacity of HM Revenue and Customs to process additional inheritance tax cases arising from the inclusion of unused pension funds in estates from April 2027.

Most unused pension funds and pension death benefits will be brought into the value of a person’s estate for Inheritance Tax (IHT) purposes from 6 April 2027. Most estates will continue to have no IHT liability, even after these changes have come into effect. HMRC has published a Tax Information and Impact Note on these changes, which includes details of the expected operational impact on HMRC. This is available at https://www.gov.uk/government/publications/inheritance-tax-unused-pension-funds-and-death-benefits/inheritance-tax-unused-pension-funds-and-death-benefits HMRC’s service standard is to process 80% of applications for clearance for IHT within 15 working days. In the first quarter of 2026/27, HMRC processed 93% of clearance applications using Form IHT30 within 15 working days. On 17 June 2025, HMRC introduced a new Bereavement Helpline to provide a central service to support customers dealing with the tax affairs of someone who has died. The average speed of answer for the Bereavement Helpline in 2025/26 (between 17 June 2025 to March 2026) was 7 minutes 58 seconds. From April to June 2026, the average speed of answer was 5 minutes 4 seconds.
James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, what the average time taken by HM Revenue and Customs is to issue a clearance certificate in respect of a deceased person's estate after tax due has been paid; and what steps her Department is taking to reduce that time.

Most unused pension funds and pension death benefits will be brought into the value of a person’s estate for Inheritance Tax (IHT) purposes from 6 April 2027. Most estates will continue to have no IHT liability, even after these changes have come into effect. HMRC has published a Tax Information and Impact Note on these changes, which includes details of the expected operational impact on HMRC. This is available at https://www.gov.uk/government/publications/inheritance-tax-unused-pension-funds-and-death-benefits/inheritance-tax-unused-pension-funds-and-death-benefits HMRC’s service standard is to process 80% of applications for clearance for IHT within 15 working days. In the first quarter of 2026/27, HMRC processed 93% of clearance applications using Form IHT30 within 15 working days. On 17 June 2025, HMRC introduced a new Bereavement Helpline to provide a central service to support customers dealing with the tax affairs of someone who has died. The average speed of answer for the Bereavement Helpline in 2025/26 (between 17 June 2025 to March 2026) was 7 minutes 58 seconds. From April to June 2026, the average speed of answer was 5 minutes 4 seconds.
James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, what the average waiting time was for callers to HM Revenue and Customs helplines dealing with bereavement and estates in each of the last two years.

Most unused pension funds and pension death benefits will be brought into the value of a person’s estate for Inheritance Tax (IHT) purposes from 6 April 2027. Most estates will continue to have no IHT liability, even after these changes have come into effect. HMRC has published a Tax Information and Impact Note on these changes, which includes details of the expected operational impact on HMRC. This is available at https://www.gov.uk/government/publications/inheritance-tax-unused-pension-funds-and-death-benefits/inheritance-tax-unused-pension-funds-and-death-benefits HMRC’s service standard is to process 80% of applications for clearance for IHT within 15 working days. In the first quarter of 2026/27, HMRC processed 93% of clearance applications using Form IHT30 within 15 working days. On 17 June 2025, HMRC introduced a new Bereavement Helpline to provide a central service to support customers dealing with the tax affairs of someone who has died. The average speed of answer for the Bereavement Helpline in 2025/26 (between 17 June 2025 to March 2026) was 7 minutes 58 seconds. From April to June 2026, the average speed of answer was 5 minutes 4 seconds.
James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, what a) amount and b) percentage of Vape Products Duty has been spent to date on tackling rogue traders of vapes and cigarettes.

Vaping Products Duty (VPD) will come into effect on 1 October 2026. As it has not yet come into force, no amount of VPD revenue has been spent to date.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, pursuant to the answer of 23 June 2026, to Question 9591, on Business Rates: Retail Trade, what the evidential basis is for the total business rate bills paid by the retail sector in 2026-27 compared to 2025-26.

The evidential basis is analysis conducted by the Ministry of Housing, Communities and Local Government (MHCLG) using property-level rateable value data from the Valuation Office, alongside local authority returns, as published in MHCLG’s National Non-Domestic Rates statistics.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, how many mature Child Trust Fund accounts that were opened by HM Revenue and Customs remain unclaimed, and what the estimated total value is of those accounts.

The Government recognises it is vital to step up efforts to reunite young people with their unclaimed matured Child Trust Funds (CTFs), regardless of whether the account was opened by HMRC or by a parent. Around three million accounts have now matured, of which over three quarters of a million remain unclaimed. Recognising the scale of the challenge and building on existing steps, the Government has put in place three new initiatives.

Firstly, HMRC will be carrying out social research to better understand the barriers that may prevent young people from engaging with their CTF. This work will improve our understanding of how young people respond to communications about their accounts, and how Government and industry can encourage more account holders to act.

Secondly, HMRC will be writing directly to 21 year olds whose matured CTFs remain unclaimed. These letters will make young people aware that they have a CTF and encourage them to take steps to claim it.

Thirdly, Government has launched a dedicated CTF Taskforce, bringing together Government and CTF providers to improve tracing approaches and identify more effective ways to engage young people.

Information on CTFs is available in HMRC’s Annual Savings Statistics published on Gov.uk:

www.gov.uk/government/statistics/annual-savings-statistics-2025

We cannot provide the number or total value of matured CTFs that were opened by HMRC because the information required to identify these accounts is not included in the statistical returns that HMRC receives from providers.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, if he will publish an economic impact assessment comparing the proposed First-Time Buyer ISA with the Lifetime ISA.

The Government recognises that the Lifetime ISA (LISA) is not working for everyone and that its dual purpose of supporting both home ownership and retirement saving can create complexity for savers. The Government is therefore consulting on a new FTB ISA product, setting out options for a simpler product focused on supporting first-time buyers.

The Government is carefully considering responses to the FTB ISA consultation, including the fiscal impact of different design. Any decisions on the detailed design of the product, including matters affecting Exchequer costs, will be taken in the round and announced in the usual way.

The published FTB ISA consultation confirmed that until the new product is offered it will be possible to open a LISA. After the new product is introduced, it will not be possible to open a LISA, but existing LISA holders, including those currently using the LISA for retirement, will continue to be able to use their accounts in line with the existing rules. More information can be found here First Time Buyer ISA consultation - GOV.UK.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what estimate his Department has made of the cost savings which will result from ending the retirement savings function of the Lifetime ISA under the new First-Time Buyer ISA.

The Government recognises that the Lifetime ISA (LISA) is not working for everyone and that its dual purpose of supporting both home ownership and retirement saving can create complexity for savers. The Government is therefore consulting on a new FTB ISA product, setting out options for a simpler product focused on supporting first-time buyers.

The Government is carefully considering responses to the FTB ISA consultation, including the fiscal impact of different design. Any decisions on the detailed design of the product, including matters affecting Exchequer costs, will be taken in the round and announced in the usual way.

The published FTB ISA consultation confirmed that until the new product is offered it will be possible to open a LISA. After the new product is introduced, it will not be possible to open a LISA, but existing LISA holders, including those currently using the LISA for retirement, will continue to be able to use their accounts in line with the existing rules. More information can be found here First Time Buyer ISA consultation - GOV.UK.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment has been made of the potential impact on peoples' retirement savings of replacing the Lifetime ISA with the proposed First-Time Buyer ISA.

The Government recognises that the Lifetime ISA (LISA) is not working for everyone and that its dual purpose of supporting both home ownership and retirement saving can create complexity for savers. The Government is therefore consulting on a new FTB ISA product, setting out options for a simpler product focused on supporting first-time buyers.

The Government is carefully considering responses to the FTB ISA consultation, including the fiscal impact of different design. Any decisions on the detailed design of the product, including matters affecting Exchequer costs, will be taken in the round and announced in the usual way.

The published FTB ISA consultation confirmed that until the new product is offered it will be possible to open a LISA. After the new product is introduced, it will not be possible to open a LISA, but existing LISA holders, including those currently using the LISA for retirement, will continue to be able to use their accounts in line with the existing rules. More information can be found here First Time Buyer ISA consultation - GOV.UK.

Lucy Rigby
Economic Secretary (HM Treasury)
15th Jul 2026
To ask the Chancellor of the Exchequer, with reference to the answer of 21 April 2026, to Question 126749, on Council Tax: Surcharges, what the evidential basis is for residential dwellings being liable for both taxes, including the proposed higher level for foreign owners under the new surcharge.

The Annual Tax on Enveloped Dwellings (ATED) applies to companies that own UK residential property worth more than £500,000. ATED is intended to tackle tax avoidance, ensuring those who 'envelope' residential properties, by owning or purchasing them through corporate structures without a commercial purpose, pay a fair share of tax.

The High Value Council Tax Surcharge (HVCTS) will apply to owners of residential properties in England worth £2 million or above. Some companies who are currently liable to pay ATED will be in scope of the HVCTS. The government sought views through consultation on a non-resident surcharge for HVCTS, a response will be published in due course.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, with reference to the speech by the Exchequer Secretary to the Treasury to the Institute for Government on 29 June 2026, whether Ministers make operational decisions regarding the deployment of Officers of Revenue & Customs appointed under Section 2 of the Commissioners for Revenue and Customs Act 2005, and if she will make a statement.

I am accountable to Parliament for the overall strategic priorities, resourcing and performance of HMRC. As set out in the Commissioners for Revenue and Customs Act 2005, HMRC Commissioners are responsible for decisions regarding the deployment of Officers of Revenue and Customs.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, what estimate has the HMRC Valuation Office made of the estimated (a) number and (b) proportion of council tax appeals that will be (i) submitted and (ii) accepted, on the new council tax valuation list in Wales, following the council tax revaluation in Wales.

An estimate of the number of appeals following the Council Tax revaluation in Wales was published in the Welsh Government’s Explanatory Memorandum of the Local Government Finance (Wales) Act 2024. It can be found on page 88 of the document on their website, here.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, pursuant to the answer of 23 June 2026, to Question 10763, on Council tax: valuation, if she will place in the Library a copy of HMRC Valuation Office’s guidance on (a) site visits, and (b) requests for information, for council tax valuations.

HMRC’s Valuation Office does not publish guidance on inspections or requests for information for Council Tax purposes. Each property is considered on a case-by-case basis to determine its Council Tax band. Additional information may be sought from the taxpayer in line with section 27 of the Local Government Finance Act 1992. An inspection may be carried out, though this is not usually required.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, whether there is a special category code which the HMRC Valuation Office uses to categorise places of worship for business rate liability or whether places of worship are exempt from the valuation process; and what processes are used for valuing places of worship which are not certified under the Places of Worship Registration Act 1855.

Places of Public Religious Worship are not valued for business rates. For Places of Public Religious Worship without a certificate, the Valuation Office consider the tests for Religious Exemption as outlined in the Valuation Office Rating Manual, here.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, with reference to the answer of 17 September 2024, to Question 5223, on Council Tax: Wales, whether an external firm has been commissioned to assist on council tax automated valuation model or computer assisted mass appraisal development.

The only external contractor which worked on the development of the automated valuation model is referenced in the reply to UIN 5223.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, what the proposed publication date by the HMRC Valuation Office for the draft council tax valuation list in Wales is, following the council tax revaluation.

Section 20 of the Local Government Finance (Wales) Act 2024 states that publication of the proposed valuation list will either be no later than the 1 September before the date on which the list is to be compiled in a revaluation year, or another date set out by Welsh Ministers in an order.

James Murray
Financial Secretary to the Treasury and Paymaster General
15th Jul 2026
To ask the Chancellor of the Exchequer, with reference to the answer of 20 April 2026, to Question 124647, on Licensing Premises: Business Rates, what special category code the HMRC Valuation Office uses for the business rates valuation of a wine bar.

I refer the member to the answer given to Question UIN 106140 on 21 January 2026.

James Murray
Financial Secretary to the Treasury and Paymaster General
28th Aug 2026
To ask the Chancellor of the Exchequer, what progress the Listings Taskforce has made towards increasing the number of (i) domestic and (iI) international companies listing on UK markets since its establishment.

At Mansion House 2025, the government published its Financial Services Growth and Competitiveness Strategy. This document sets out the government’s ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets as a core pillar of the strategy.

As part of this strategy, the government established a Listings Taskforce to support businesses to list and grow in the UK. HM Treasury continues to work in partnership with the Office for Investment, and industry, to ensure the UK attracts the best and brightest businesses from around the world, and right here in the UK, to list on UK markets.

Since 2025, more than £25.8bn of equity capital has been raised in London through follow-on issuances and IPOs.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what outcome targets have been set for the Listings Taskforce for (i) the number of UK companies listing in the UK, (ii) the number of overseas companies choosing UK markets and (iii) the value of capital raised through UK listings.

At Mansion House 2025, the government published its Financial Services Growth and Competitiveness Strategy. This document sets out the government’s ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets as a core pillar of the strategy.

As part of this strategy, the government established a Listings Taskforce to support businesses to list and grow in the UK. HM Treasury continues to work in partnership with the Office for Investment, and industry, to ensure the UK attracts the best and brightest businesses from around the world, and right here in the UK, to list on UK markets.

Since 2025, more than £25.8bn of equity capital has been raised in London through follow-on issuances and IPOs.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, which sectors the Listings Taskforce has identified as having the greatest potential to increase the number of companies listing on UK markets.

At Mansion House 2025, the government published its Financial Services Growth and Competitiveness Strategy. This document sets out the government’s ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets as a core pillar of the strategy.

As part of this strategy, the government established a Listings Taskforce to support businesses to list and grow in the UK. HM Treasury continues to work in partnership with the Office for Investment, and industry, to ensure the UK attracts the best and brightest businesses from around the world, and right here in the UK, to list on UK markets.

Since 2025, more than £25.8bn of equity capital has been raised in London through follow-on issuances and IPOs.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what metrics the Listings Taskforce is using to assess whether its work is improving the attractiveness and competitiveness of UK capital markets.

At Mansion House 2025, the government published its Financial Services Growth and Competitiveness Strategy. This document sets out the government’s ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets as a core pillar of the strategy.

As part of this strategy, the government established a Listings Taskforce to support businesses to list and grow in the UK. HM Treasury continues to work in partnership with the Office for Investment, and industry, to ensure the UK attracts the best and brightest businesses from around the world, and right here in the UK, to list on UK markets.

Since 2025, more than £25.8bn of equity capital has been raised in London through follow-on issuances and IPOs.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment he has made of the progress of the Listings Taskforce in reducing the barriers identified by businesses considering a UK listing.

At Mansion House 2025, the government published its Financial Services Growth and Competitiveness Strategy. This document sets out the government’s ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets as a core pillar of the strategy.

As part of this strategy, the government established a Listings Taskforce to support businesses to list and grow in the UK. HM Treasury continues to work in partnership with the Office for Investment, and industry, to ensure the UK attracts the best and brightest businesses from around the world, and right here in the UK, to list on UK markets.

Since 2025, more than £25.8bn of equity capital has been raised in London through follow-on issuances and IPOs.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment he has made of the economic impact of the Listings Taskforce increasing the number of UK listings.

At Mansion House 2025, the government published its Financial Services Growth and Competitiveness Strategy. This document sets out the government’s ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets as a core pillar of the strategy.

As part of this strategy, the government established a Listings Taskforce to support businesses to list and grow in the UK. HM Treasury continues to work in partnership with the Office for Investment, and industry, to ensure the UK attracts the best and brightest businesses from around the world, and right here in the UK, to list on UK markets.

Since 2025, more than £25.8bn of equity capital has been raised in London through follow-on issuances and IPOs.

Lucy Rigby
Economic Secretary (HM Treasury)
1st Sep 2026
To ask the Chancellor of the Exchequer, what estimate he has made of the aggregate business-rates liability of charity shops operated by adult and children’s hospices following the 2026 revaluation; and what assessment he has made of the potential impact of that liability on the unrestricted income available to support frontline hospice services.

Charitable rate relief provides up to 80% business rates relief to eligible properties. Local Authorities have powers to award further discretionary relief, including up to 100% relief. Charity shops operated by hospices benefit from the business rates reliefs available to charities, if they are eligible.

The Government recognises the important role hospices play in supporting people and families across the country. Charities will also continue to benefit from the Government’s £4.3 billion business rates support package announced at Budget 2025.

For more information on Charitable Rate relief, please see: Business rates relief: Charitable rate relief - GOV.UK

James Murray
Financial Secretary to the Treasury and Paymaster General
1st Sep 2026
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of providing centrally funded 100% business-rates relief to charity shops operated by hospices; and what estimate he has made of the annual cost of that measure.

Charitable rate relief provides up to 80% business rates relief to eligible properties. Local Authorities have powers to award further discretionary relief, including up to 100% relief. Charity shops operated by hospices benefit from the business rates reliefs available to charities, if they are eligible.

The Government recognises the important role hospices play in supporting people and families across the country. Charities will also continue to benefit from the Government’s £4.3 billion business rates support package announced at Budget 2025.

For more information on Charitable Rate relief, please see: Business rates relief: Charitable rate relief - GOV.UK

James Murray
Financial Secretary to the Treasury and Paymaster General
28th Aug 2026
To ask the Chancellor of the Exchequer, whether he has had discussions with mutual building societies on their role in increasing sustainable homeownership and supporting economic growth.

Building societies play an important role in supporting home ownership and economic growth. Ministers and officials regularly engage with building societies and the wider mutuals sector to discuss their business, understand the barriers they face and consider opportunities to support their growth and better serve their members.

The Government is committed to creating the conditions that enable the sector to flourish. In December 2025, the Prudential Regulation Authority and Financial Conduct Authority published their joint Mutuals Landscape Report, which set out the sector’s regulatory framework and identified opportunities for growth-focused reform. As part of that initiative, the Prudential Regulation Authority removed the Building Societies Sourcebook, supporting a more proportionate regulatory framework for building societies.

In addition, the Government laid a statutory instrument before Parliament in July 2026 that would support the building society sector by reducing unnecessary administrative burdens and providing greater funding flexibility.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the current regulatory framework for mutual building societies.

Building societies play an important role in supporting home ownership and economic growth. Ministers and officials regularly engage with building societies and the wider mutuals sector to discuss their business, understand the barriers they face and consider opportunities to support their growth and better serve their members.

The Government is committed to creating the conditions that enable the sector to flourish. In December 2025, the Prudential Regulation Authority and Financial Conduct Authority published their joint Mutuals Landscape Report, which set out the sector’s regulatory framework and identified opportunities for growth-focused reform. As part of that initiative, the Prudential Regulation Authority removed the Building Societies Sourcebook, supporting a more proportionate regulatory framework for building societies.

In addition, the Government laid a statutory instrument before Parliament in July 2026 that would support the building society sector by reducing unnecessary administrative burdens and providing greater funding flexibility.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what discussions he has had with pension schemes on long-term investment in UK infrastructure.

Through the Government's financial services strategy and the Pension Schemes Act 2026, the Government is taking action to improve outcomes for pension savers, support growing British businesses and increase investment in the UK economy.

Ministers and officials regularly engage with pension schemes and the wider investment industry on a range of issues, including long-term investment opportunities in UK infrastructure.

Alongside the Pension Schemes Act, the Government is encouraging pension funds to diversify and invest in private markets. The Government strongly welcomes the Mansion House Accord, an industry-led commitment by major pension providers to invest 10 per cent of their default defined contribution funds in private markets by 2030, with at least half of that invested in the UK.

The Government is also helping facilitate more institutional investment into the UK economy. The expanded British Business Bank is helping to address market gaps and crowd in investment, and the National Wealth Fund is mobilising investment into sectors and infrastructure that support long-term economic growth.

The Government keeps the impact of its policies under review and is strengthening the information available on pensions, including through the Value for Money Framework and related data collection. Regulators and the Government continue to monitor risks in financial markets to ensure that financial stability is maintained.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what measures are in place to evaluate the economic impact of increased pension investment in innovative businesses.

Through the Government's financial services strategy and the Pension Schemes Act 2026, the Government is taking action to improve outcomes for pension savers, support growing British businesses and increase investment in the UK economy.

Ministers and officials regularly engage with pension schemes and the wider investment industry on a range of issues, including long-term investment opportunities in UK infrastructure.

Alongside the Pension Schemes Act, the Government is encouraging pension funds to diversify and invest in private markets. The Government strongly welcomes the Mansion House Accord, an industry-led commitment by major pension providers to invest 10 per cent of their default defined contribution funds in private markets by 2030, with at least half of that invested in the UK.

The Government is also helping facilitate more institutional investment into the UK economy. The expanded British Business Bank is helping to address market gaps and crowd in investment, and the National Wealth Fund is mobilising investment into sectors and infrastructure that support long-term economic growth.

The Government keeps the impact of its policies under review and is strengthening the information available on pensions, including through the Value for Money Framework and related data collection. Regulators and the Government continue to monitor risks in financial markets to ensure that financial stability is maintained.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what steps he is taking to help increase the number of UK-based institutional investors participating in early-stage venture capital markets.

Through the Government's financial services strategy and the Pension Schemes Act 2026, the Government is taking action to improve outcomes for pension savers, support growing British businesses and increase investment in the UK economy.

Ministers and officials regularly engage with pension schemes and the wider investment industry on a range of issues, including long-term investment opportunities in UK infrastructure.

Alongside the Pension Schemes Act, the Government is encouraging pension funds to diversify and invest in private markets. The Government strongly welcomes the Mansion House Accord, an industry-led commitment by major pension providers to invest 10 per cent of their default defined contribution funds in private markets by 2030, with at least half of that invested in the UK.

The Government is also helping facilitate more institutional investment into the UK economy. The expanded British Business Bank is helping to address market gaps and crowd in investment, and the National Wealth Fund is mobilising investment into sectors and infrastructure that support long-term economic growth.

The Government keeps the impact of its policies under review and is strengthening the information available on pensions, including through the Value for Money Framework and related data collection. Regulators and the Government continue to monitor risks in financial markets to ensure that financial stability is maintained.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of increased exposure to private markets by pension funds on UK financial stability.

Through the Government's financial services strategy and the Pension Schemes Act 2026, the Government is taking action to improve outcomes for pension savers, support growing British businesses and increase investment in the UK economy.

Ministers and officials regularly engage with pension schemes and the wider investment industry on a range of issues, including long-term investment opportunities in UK infrastructure.

Alongside the Pension Schemes Act, the Government is encouraging pension funds to diversify and invest in private markets. The Government strongly welcomes the Mansion House Accord, an industry-led commitment by major pension providers to invest 10 per cent of their default defined contribution funds in private markets by 2030, with at least half of that invested in the UK.

The Government is also helping facilitate more institutional investment into the UK economy. The expanded British Business Bank is helping to address market gaps and crowd in investment, and the National Wealth Fund is mobilising investment into sectors and infrastructure that support long-term economic growth.

The Government keeps the impact of its policies under review and is strengthening the information available on pensions, including through the Value for Money Framework and related data collection. Regulators and the Government continue to monitor risks in financial markets to ensure that financial stability is maintained.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, with reference to his Department's Access to Banking Services Review, published on 14 May 2026, what steps his Department is taking to help ensure that people unable to use digital banking retain reasonable access to face-to-face banking services.

The Government is committed to ensuring that people who need in-person banking can continue to access essential services.

That is why the Government commissioned an independent Review into Access to Banking Services, to assess whether changes to access to in-person banking services are causing consumer detriment, the scale of any detriment, and who and where it affects, including in rural, coastal, and market town communities.

Alongside the Review, the Financial Services and Markets Bill includes a power to allow the Government to take action in future to protect access to banking services, should this be necessary. This power ensures the Government can act swiftly and proportionately, including through future regulation, if the evidence from the Review supports intervention.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, with reference to his Department's Access to Banking Services Review, published on 14 May 2026, what assessment his Department has made of the extent of geographical gaps in face-to-face banking provision.

The Government is committed to ensuring that people who need in-person banking can continue to access essential services.

That is why the Government commissioned an independent Review into Access to Banking Services, to assess whether changes to access to in-person banking services are causing consumer detriment, the scale of any detriment, and who and where it affects, including in rural, coastal, and market town communities.

Alongside the Review, the Financial Services and Markets Bill includes a power to allow the Government to take action in future to protect access to banking services, should this be necessary. This power ensures the Government can act swiftly and proportionately, including through future regulation, if the evidence from the Review supports intervention.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of using existing community infrastructure, including Post Office branches, to support access to cash and everyday banking transactions.

The Government recognises the importance of cash, understanding that it continues to be used by millions of people across the UK, including charities, churches, voluntary organisations and community groups to support communities across the UK, and is committed to protecting access to cash for individuals and businesses.

The Financial Conduct Authority (FCA) assumed regulatory responsibility for access to cash in September 2024. Its rules ensure cash continues to be a viable method of payment for the millions of people who depend on it by providing reasonable access to cash withdrawal and deposit facilities for individuals and businesses, including free services for personal accounts.

In addition to access to cash, the Government is committed to ensuring that people who need in-person banking can continue to access essential services. That is why the Government commissioned an independent Review into Access to Banking Services, to assess whether changes to access to in-person banking services are causing consumer detriment and the scale of any detriment.

As part of this, the Review will consider existing forms of in-person banking provision, including those available in the Post Office. Under the Banking Framework, a commercial agreement with 30 banking firms, most personal and business customers can withdraw and deposit cash, check their balance, pay bills and cash cheques at over 10,000 Post Office branches across the UK, subject to each bank’s service arrangements.

Alongside the Review, the Financial Services and Markets Bill includes a power to allow the Government to take action in future to protect access to banking services, should this be necessary. This power ensures the Government can act swiftly and proportionately, including through future regulation, if the evidence from the Review supports intervention.

Lucy Rigby
Economic Secretary (HM Treasury)
15th Jul 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of Making Tax Digital on small businesses.

The government has worked with taxpayers, representative bodies and software developers to ensure Making Tax Digital (MTD) for Income Tax works well for businesses of all types and sizes.

MTD will help businesses and landlords keep on top of their tax affairs. It places small businesses on a more digital footing, with digital tools helping to reduce errors and making annual tax returns easier.

The government has worked with the software industry to ensure a wide range of options are available to suit different needs and budgets, including low-cost and free software, supporting those with the simplest affairs. Many products are designed for users who manage their own tax affairs or those new to digital tools.

Dan Tomlinson
Exchequer Secretary (Cabinet Office) (Jointly with HM Treasury)
1st Sep 2026
To ask the Chancellor of the Exchequer, whether the Government plans to use the powers in the Financial Services and Markets Bill 2026 to establish a mutual recognition framework for digital assets, including stablecoins, to support the UK's competitiveness as a global financial centre.

The Government acknowledges the potential benefits of recognising compatible jurisdictions’ regulatory regimes, including promoting growth and competitiveness by supporting cross-border activity.

The Financial Services and Markets Bill will enable HM Treasury to establish bespoke Overseas Recognition Regimes, where doing so will benefit the UK. The Government will consider using these powers for digital assets, where appropriate, subject to an assessment of the compatibility of the relevant jurisdiction’s regulatory and supervisory framework.

Lucy Rigby
Economic Secretary (HM Treasury)
1st Sep 2026
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of modern capital instruments to enable non-member investment in co-operatives.

The Government wants to ensure that the law governing co-operatives and community benefit societies supports their growth. That is why the Government is funding the Law Commission’s independent review of the Co-operative and Community Benefit Societies Act 2014. The review is considering ways to update and modernise the legislation, ensuring that it fits the nature and needs of these societies and that regulation is proportionate and effective. This includes consideration of whether shares may be issued with varying rights and to non-user investors.

Once published, the Government will carefully consider the Law Commission’s recommendations to understand whether reform is needed to support these businesses to grow and succeed in the future. The Government is committed to unlocking the full potential of the mutual and co-operative sector to support inclusive growth and we continue to engage regularly with the sector to address the barriers to the sector’s growth

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, whether his Department's Access to Banking Services Review will consider the introduction of a baseline level of access to in-person banking services, including the potential contribution of the Post Office network.

The Government is committed to ensuring that people who need in-person banking can continue to access essential services.

That is why the Government commissioned an independent Review into Access to Banking Services, to assess whether changes to access to in-person banking services are causing consumer detriment and the scale of any detriment.

As part of this, the Review will consider existing forms of in-person banking provision. The Post Office provides banking services through over 10,000 branches via the Banking Framework agreement and, as such, the provision of services by the Post Office on behalf of banks will be considered as part of the Review.

The Access to Banking Services Review is being conducted on an independent basis. The Chair will provide a report and recommendations to the Government upon its conclusion, at which point the Government will consider any future actions.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, whether his Department's Access to Banking Services Review will assess the potential impact of the Post Office network on providing access to in-person banking services.

The Government is committed to ensuring that people who need in-person banking can continue to access essential services.

That is why the Government commissioned an independent Review into Access to Banking Services, to assess whether changes to access to in-person banking services are causing consumer detriment and the scale of any detriment.

As part of this, the Review will consider existing forms of in-person banking provision. The Post Office provides banking services through over 10,000 branches via the Banking Framework agreement and, as such, the provision of services by the Post Office on behalf of banks will be considered as part of the Review.

The Access to Banking Services Review is being conducted on an independent basis. The Chair will provide a report and recommendations to the Government upon its conclusion, at which point the Government will consider any future actions.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, if he will extend the deadline for payment of inheritance tax from six to 12 months.

The Government does not intend to change the existing, longstanding deadline of inheritance tax being due at the end of the sixth month after the date of death.

The Government recognises the general difficulties that some personal representatives may face in paying the inheritance tax due and HMRC already offers several payment options to help.

James Murray
Financial Secretary to the Treasury and Paymaster General
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment he has made on the potential impact of the rise in employer National Insurance Contributions on the social care sector.

A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.

The Government recognises the significant challenges facing the social care system and is committed to transforming the sector and supporting the care workforce. The Government is making available around £4.6 billion of additional funding in 2028/29, compared to 2025/26, to support the sector to improve social care.

James Murray
Financial Secretary to the Treasury and Paymaster General
28th Aug 2026
To ask the Chancellor of the Exchequer, how many complaints relating to Buy-Now, Pay-Later products were received by the Financial Conduct Authority and the Financial Ombudsman Service in each of the last five years.

Buy-Now, Pay-Later (BNPL) products were brought into FCA regulation in July 2026 and providers are now subject to the FCA’s rules for consumer credit firms. The rules require firms to identify and support customers in financial difficulty, treat them with appropriate forbearance, regularly review the support provided, and refer borrowers to free, independent debt advice where appropriate.

Complaints relating to BNPL were not subject to complaints reporting requirements so reliable figures are not available. Going forward, the Financial Conduct Authority and the Financial Ombudsman Service will record data on complaints relating to BNPL products.

The government will continue to monitor the BNPL market closely, working with the FCA and industry.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what guidance has been issued to Buy-Now, Pay-Later providers on referring customers in financial difficulty to debt advice services.

Buy-Now, Pay-Later (BNPL) products were brought into FCA regulation in July 2026 and providers are now subject to the FCA’s rules for consumer credit firms. The rules require firms to identify and support customers in financial difficulty, treat them with appropriate forbearance, regularly review the support provided, and refer borrowers to free, independent debt advice where appropriate.

Complaints relating to BNPL were not subject to complaints reporting requirements so reliable figures are not available. Going forward, the Financial Conduct Authority and the Financial Ombudsman Service will record data on complaints relating to BNPL products.

The government will continue to monitor the BNPL market closely, working with the FCA and industry.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what guidance has been issued to Buy-Now, Pay-Later providers on referring customers in financial difficulty to debt advice services.

Buy-Now, Pay-Later (BNPL) products were brought into FCA regulation in July 2026 and providers are now subject to the FCA’s rules for consumer credit firms. The rules require firms to identify and support customers in financial difficulty, treat them with appropriate forbearance, regularly review the support provided, and refer borrowers to free, independent debt advice where appropriate.

Complaints relating to BNPL were not subject to complaints reporting requirements so reliable figures are not available. Going forward, the Financial Conduct Authority and the Financial Ombudsman Service will record data on complaints relating to BNPL products.

The government will continue to monitor the BNPL market closely, working with the FCA and industry.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, with reference to the answer of 20 April 2026, to Question 124889 on Defence: Development Aid, whether it remains his policy to spend 100 percent of the reduction in the Official Development Assistance budget on defence in (a) 2026/27, (b) 2027/28 and (c) 2028/29.

100 percent of the reduction in the Official Development Assistance (ODA) budget will be spent on defence in all of the years referenced.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment he has made of the potential impact of allowing a private equity firm to use public funds to impose a lower value bid on UK retail shareholders on confidence in the London market and promoting wider share ownership.

It is not for the Government to comment on the investment strategies of individual firms. These activities are undertaken within a regulatory framework that provides safeguards for both market integrity and investor protection.

Private equity managers in the UK are primarily regulated by the Financial Conduct Authority under the Alternative Investment Fund Managers Regulations (AIFMR). Private equity investment is also shaped by broader UK legislative and regulatory regimes, including the National Security and Investment Act, Competition and Markets Authority oversight, and the Takeover Code.

More broadly, UK public markets operate within a comprehensive regulatory framework overseen by the Financial Conduct Authority, including rules designed to protect investors and support confidence in UK capital markets.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, whether the Financial Conduct Authority has undertaken a (a) review and (b) follow-up assessment of the findings of the 2017 Asset Management Market Study; and if he will publish any resulting findings.

This is a matter for the Financial Conduct Authority (FCA), which is an independent, non-governmental body. The FCA will respond to the hon. Member, and a copy of the letter will be placed in the Library of the House of Commons.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, what assessment the Financial Conduct Authority has made of the potential impact of charging active management fees on fund holdings invested in passive index-tracking products on its Consumer Duty and fair value requirements.

This is a matter for the Financial Conduct Authority (FCA), which is an independent, non-governmental body. The FCA will respond to the hon. Member, and a copy of the letter will be placed in the Library of the House of Commons.

Lucy Rigby
Economic Secretary (HM Treasury)
28th Aug 2026
To ask the Chancellor of the Exchequer, whether he has made an estimate of the additional annual cost to the Exchequer of increasing Official Development Assistance spending from 0.3 per cent to 0.7 per cent of Gross National Income in each of the next five financial years.

At Spring Statement 2025 the Government took the decision to reduce the UK ODA budget to the equivalent of 0.3% of GNI by 2027 to fund a necessary increase in defence spending. Spending Review 2025 details departmental ODA budgets 2025/26 to 2028/29 that reflect this decision. The Government monitors future forecasts closely and will review and confirm, in accordance with the International Development (Official Development Assistance Target) Act 2015 whether a return to spending 0.7% of GNI on ODA is possible against the latest fiscal forecasts.

Lucy Rigby
Economic Secretary (HM Treasury)