Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of increasing the rate of Video Games Expenditure Credits for bigger budget games to 39% and removing the 80% expenditure cap.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government recognises the importance of the video games sector and the contribution it makes to growth. Support for video games companies is provided through the tax system and through funding.

Video Games Expenditure Credit (VGEC) provides a generous rate of relief of 34% on qualifying UK video games development costs. In 2023-24, £327 million of Corporation Tax was relieved through video game tax relief. VGEC is available to any company and project that meet the qualifying criteria, including larger budget games.

The Government is not currently considering increasing the generosity of the relief.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps her Department is taking to help support businesses experiencing financial stress that are awaiting a non‑domestic rates revaluation; and what the average time frame is for rates revaluations on non-domestic rates.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

Every three years the Valuation Office Agency carries out a revaluation of non-domestic properties. The 2026 revaluation is due to come into effect on 1 April 2026, based on values from 1 April 2024.

In recognition of the impact of the revaluation on bills, the Government introduced a support package worth £4.3 billion, to protect ratepayers seeing their bills increase. The Government is introducing new permanently lower multipliers for eligible retail, hospitality and leisure properties. These new multipliers are worth nearly £1 billion per year and will benefit over 750,000 properties.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how much public money has been spent to date on the development and roll-out of Making Tax Digital; and what the projected total cost is for completing the programme.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

Originally announced at Budget 2015, Making Tax Digital (MTD) supports UK businesses to transact digitally. It encourages timely and accurate record keeping, reducing the part of the tax gap caused by taxpayer error and failure to take reasonable care.

The most recent Accounting Officer’s Assessment was published on 4 June 2025 and estimated a public sector lifecycle cost of £1.4 billion for the MTD programme. This assessment also estimated an overall lifecycle monetised benefit of £6.2 billion. These are considerable benefits, providing vital funding for public services, which are expected to continue beyond the 5-year window assessed in the business case.

MTD will also generate significant non-monetisable benefits, including through modernising HMRC’s critical national IT infrastructure for the VAT and ITSA regimes.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with the road haulage sector on the financial impact of [i] forthcoming changes to fuel duty and [ii] changes in oil prices due to the conflict in the Middle East on road hauliers.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government recognises the key role the haulage sector plays in the UK economy. The Government is taking action to ensure that fuel at the pump remains affordable. At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027.

The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices low at the pump.

As with all taxes, the Government keeps fuel duty under review; and any changes are announced at fiscal events.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of (a) fuel duty and (b) VAT on trends in the level of cost of petrol and diesel for consumers.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government is already taking action to ensure that fuel at the pump remains affordable.

At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre –compared to the plans inherited from the previous government.

Prices are set by petrol retailers taking into account wholesale costs; fuel duty is a fixed levy and VAT applied as a percentage of the prices retailers charge.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how long she plans to exempt steel production from the UK Carbon Border Adjustment Mechanism.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The government is introducing a Carbon Border Adjustment Mechanism (CBAM) from 1 January 2027. It will apply to imported goods from the aluminium, cement, fertiliser, hydrogen, and iron and steel sectors

CBAM will apply to specific imported goods from the steel sector, as listed in Schedule 16 of the Finance Act 2026. There are no plans for exemptions from this list.

The UK CBAM is designed to address the risk of carbon leakage and to ensure that CBAM goods which are imported from overseas face a comparable carbon price to what is paid by manufacturers producing the same goods in the UK, under the UK Emissions Trading Scheme. As CBAM will only apply to imported products, it will not apply to domestic steel production.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate her Department has made of the costs of expanding the rural fuel duty relief scheme to cover all of Tiverton and Minehead constituency.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Rural Fuel Duty Relief Scheme has provided a 5p reduction to motorists buying fuel in certain areas since its introduction in 2012. The areas included in the scheme demonstrate certain characteristics such as: pump prices much higher than the UK average; remoteness leading to high fuel transport costs from refinery to filling station, and; relatively low sales meaning that retailers cannot benefit from bulk discounts.

There are no plans to amend the list of eligible locations.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate she has made of the impact on Exchequer revenues of high net worth individuals leaving the UK in each year since 2024.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

There is no single agreed definition of a high net worth individual, and taxpayers are not always required to inform HM Revenue and Customs when they leave the UK. Some individuals may submit a P85 after leaving the UK if they are seeking a repayment of income tax, but this is not required in all cases.

Taxpayers within Self Assessment can indicate that they have become non‑resident. Self Assessment tax returns for the 2025–26 tax year are not due until 31 January 2027.

The reforms to the tax treatment of non-domiciled individuals have been specifically designed to make the UK competitive, with a modern, simple tax regime that is also fair. The introduction of a residence-based tax system is expected to raise £39.5bn by 2030-31 (as costed by the OBR last autumn), and the OBR have said that there is no firm evidence to change the estimated impact of the reforms on migration. As set out at Budget 2025, the Chancellor has been clear that she will continue to assess the regime to ensure it strikes the right balance, including on competitiveness.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what engagement her Department has had with (a) the British Ports Association, (b) individual port operators and (c) river and canal authorities regarding the proposal to remove landfill tax exemptions relevant to dredging and port maintenance.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government recognises the vital role that the ports sector plays in supporting the government’s objectives on transport and infrastructure. At the Budget, the Government announced it would legislate to remove the Landfill Tax exemption for stabilisers used in dredged material from April 2027.

This decision followed a consultation on reforms to Landfill Tax during which the government engaged with a range of stakeholders from key sectors. This decision will not prevent the use of stabilisers, but it will encourage businesses to limit their use to what is necessary.

The Government does not expect the change to have a significant impact on flood risk management as most material removed during routine waterway maintenance of rivers and canals is reused locally and deposited adjacent to the channel, avoiding the need for disposal at landfill sites.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact on UK ports and harbour authorities of removing the landfill tax exemption for dredged material and stabilisers used in the treatment of dredgings from April 2027.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government recognises the vital role that the ports sector plays in supporting the government’s objectives on transport and infrastructure. At the Budget, the Government announced it would legislate to remove the Landfill Tax exemption for stabilisers used in dredged material from April 2027.

This decision followed a consultation on reforms to Landfill Tax during which the government engaged with a range of stakeholders from key sectors. This decision will not prevent the use of stabilisers, but it will encourage businesses to limit their use to what is necessary.

The Government does not expect the change to have a significant impact on flood risk management as most material removed during routine waterway maintenance of rivers and canals is reused locally and deposited adjacent to the channel, avoiding the need for disposal at landfill sites.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps her Department is taking to provide financial support to house boat dwellers impacted by the cost of red diesel fuel.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

Certain uses, such as non-propulsion use by private pleasure craft, retained the entitlement access to use red diesel after it was withdrawn from most sectors in 2022. In contrast to full duty diesel, taxed at 52.95 pence per litre (ppl), red diesel currently incurs a duty of 10.18 pence per litre.

At Budget 2025, the Government extended the temporary 5p fuel duty cut alongside extending the proportionate percentage cut for rebated fuels, which includes red diesel. This maintains the red diesel rate at the levels set in March 2022 at 10.18 peppl until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027, an increase of less than 1 ppl. The planned inflation increase for 2026-27 has also been cancelled.

As the Chancellor has set out, the Government will keep fuel duty under review.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of postponing the proposed increase in fuel duty, given the current situation in the Middle East.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government is already taking action to ensure that fuel at the pump remains affordable.

At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre – compared to the plans inherited from the previous government.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices low at the pump.

As with all taxes, the Government keeps fuel duty under review.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of fixed fuel duty on fuel prices during periods of high oil prices.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government is already taking action to ensure that fuel at the pump remains affordable.

At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre – compared to the plans inherited from the previous government.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices low at the pump.

As with all taxes, the Government keeps fuel duty under review.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the proposed removal of landfill tax exemptions for stabilisers used in dredged material, what assessment she has made of the potential environmental consequences of (a) delays to dredging, (b) reduced maintenance of contaminated waterways and (c) any resulting increase in flood risk.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government recognises the vital role that the ports sector plays in supporting the government’s objectives on transport and infrastructure. At the Budget, the Government announced it would legislate to remove the Landfill Tax exemption for stabilisers used in dredged material from April 2027.

This decision followed a consultation on reforms to Landfill Tax during which the government engaged with a range of stakeholders from key sectors. This decision will not prevent the use of stabilisers, but it will encourage businesses to limit their use to what is necessary.

The Government does not expect the change to have a significant impact on flood risk management as most material removed during routine waterway maintenance of rivers and canals is reused locally and deposited adjacent to the channel, avoiding the need for disposal at landfill sites.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of removing landfill tax exemptions relevant to ports on the viability of major industrial and green energy projects around UK waterways, including projects relating to flood protection and renewable energy.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government recognises the vital role that the ports sector plays in supporting the government’s objectives on transport and infrastructure. At the Budget, the Government announced it would legislate to remove the Landfill Tax exemption for stabilisers used in dredged material from April 2027.

This decision followed a consultation on reforms to Landfill Tax during which the government engaged with a range of stakeholders from key sectors. This decision will not prevent the use of stabilisers, but it will encourage businesses to limit their use to what is necessary.

The Government does not expect the change to have a significant impact on flood risk management as most material removed during routine waterway maintenance of rivers and canals is reused locally and deposited adjacent to the channel, avoiding the need for disposal at landfill sites.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, in reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what assessment she has made of the potential impact of planned fuel duty increases on households in rural and car-dependent areas; and what modelling the Treasury has undertaken on the additional commuting costs faced by motorists in those areas during a period of rising global fuel prices.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Chancellor considers a wide range of impacts when taking decisions on tax policy. At Budget 2025, the Government announced that the 5p cut in fuel duty would be extended until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027. The planned increase in line with inflation for 2026/27 will also not take place, with RPI uprating resuming from 2027/28 onwards.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre.

The Government has published Tax Impact and Information Notes (TIINs) assessing the impacts of the 2026/27 fuel duty rates, which can be found at GOV.UK:

https://www.gov.uk/government/publications/fuel-duty-rates-for-2026-to-2027/fuel-duty-rates-2026-to-2027

The Rural Fuel Duty Relief Scheme provides a 5p reduction to motorists buying fuel in certain areas. The areas included in the scheme demonstrate certain characteristics such as: pump prices much higher than the UK average; remoteness leading to high fuel transport costs from refinery to filling station, and; relatively low sales meaning that retailers cannot benefit from bulk discounts.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices affordable at the pump. As with all taxes, the Government keeps fuel duty under review.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential combined impact of the proposed increase in fuel duty and the recent rise in global oil prices on the price of petrol and diesel in the next 12 months.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Chancellor considers a wide range of impacts when taking decisions on tax policy. At Budget 2025, the Government announced that the 5p cut in fuel duty would be extended until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027. The planned increase in line with inflation for 2026/27 will also not take place, with RPI uprating resuming from 2027/28 onwards.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre.

The Government has published Tax Impact and Information Notes (TIINs) assessing the impacts of the 2026/27 fuel duty rates, which can be found at GOV.UK:

https://www.gov.uk/government/publications/fuel-duty-rates-for-2026-to-2027/fuel-duty-rates-2026-to-2027

The Rural Fuel Duty Relief Scheme provides a 5p reduction to motorists buying fuel in certain areas. The areas included in the scheme demonstrate certain characteristics such as: pump prices much higher than the UK average; remoteness leading to high fuel transport costs from refinery to filling station, and; relatively low sales meaning that retailers cannot benefit from bulk discounts.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices affordable at the pump. As with all taxes, the Government keeps fuel duty under review.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of including refined products in the Carbon Border Adjustment Mechanism before January 2029 or earlier.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The government recognises the role that refineries play in energy security and the UK’s industrial base. The Government published a call for evidence (https://www.gov.uk/government/calls-for-evidence/future-of-the-uk-downstream-oil-sector/future-of-the-uk-downstream-oil-sector-call-for-evidence) on the future of the fuel sector on 23rd February 2026 in order to help understand the current state of the refining sector.

Following a strategic and technical assessment by HMG, it has been decided not to expand the Carbon Border Adjustment Mechanism (CBAM) to refined oil products in January 2028. Assessing the case for and feasibility of including refined oil products within the Carbon Border Adjustment Mechanism at a later date is a priority. We are continuing to work with the sector to assess the options.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the inclusion of refined products in the carbon border adjustment mechanism on national security.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The government recognises the role that refineries play in energy security and the UK’s industrial base. The Government published a call for evidence (https://www.gov.uk/government/calls-for-evidence/future-of-the-uk-downstream-oil-sector/future-of-the-uk-downstream-oil-sector-call-for-evidence) on the future of the fuel sector on 23rd February 2026 in order to help understand the current state of the refining sector.

Following a strategic and technical assessment by HMG, it has been decided not to expand the Carbon Border Adjustment Mechanism (CBAM) to refined oil products in January 2028. Assessing the case for and feasibility of including refined oil products within the Carbon Border Adjustment Mechanism at a later date is a priority. We are continuing to work with the sector to assess the options.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she plans to review VAT on veterinary services.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. Tax breaks reduce the revenue available for public services, and must represent value for money for the taxpayer.

Exceptions to the standard rate have always been limited and balanced against affordability considerations.

One of the key considerations for any potential new VAT relief is whether the cost saving is likely to be passed on to consumers. Evidence suggests that businesses only partially pass on any savings from lower VAT rates, meaning that cutting VAT may not be an effective way to reduce prices for consumers.

The Chancellor makes decisions on tax policy at fiscal events in the context of the overall public finances. Since taking office the Government has taken a number of decisions on tax, welfare, and spending to fix the public finances, fund public services, and restore economic stability. This stability is critical to boosting investment and growth, and to making people across the UK better off.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 February 2026 to Question 111688 on Valuation Office Agency: Statistics, what census data is used in the Valuation Office Agency’s council tax modelling.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

I refer the member to the answer given to UIN 111688 on the 17 February 2026 which advises that the VOA uses the Census geographies.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment her Department has made of the adequacy of the overseas scale rates for employees travelling outside the UK and cost of living pressures.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

Where employers reimburse allowable travel expenses, tax relief is available provided the expenses are wholly, exclusively and necessarily incurred for work purposes.

Ordinarily, employers must hold evidence of the employee’s actual expenditure. However, to reduce administrative burdens on employers, HMRC allows expenses for travel outside the UK to be reimbursed without evidence up to the levels contained within the Overseas Scale Rates.

Where the Overseas Scale rates do not cover the expense incurred by employees, employers can still reimburse and provide tax relief provided they have appropriate evidence.

The Government keeps all taxes under review as part of the policy‑making process.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will conduct a review of overseas scale rates for employees travelling outside the UK.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

Where employers reimburse allowable travel expenses, tax relief is available provided the expenses are wholly, exclusively and necessarily incurred for work purposes.

Ordinarily, employers must hold evidence of the employee’s actual expenditure. However, to reduce administrative burdens on employers, HMRC allows expenses for travel outside the UK to be reimbursed without evidence up to the levels contained within the Overseas Scale Rates.

Where the Overseas Scale rates do not cover the expense incurred by employees, employers can still reimburse and provide tax relief provided they have appropriate evidence.

The Government keeps all taxes under review as part of the policy‑making process.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what estimate she has made of the additional annual cost to the average UK motorist as a result of the planned staged increases in fuel duty between September 2026 and March 2027; and what assessment she has made of the potential impact of those increases on household finances.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Chancellor considers a wide range of impacts when taking decisions on tax policy. At Budget 2025, the Government announced that the 5p cut in fuel duty would be extended until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027. The planned increase in line with inflation for 2026/27 will also not take place, with RPI uprating resuming from 2027/28 onwards.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre.

The Government has published Tax Impact and Information Notes (TIINs) assessing the impacts of the 2026/27 fuel duty rates, which can be found at GOV.UK:

https://www.gov.uk/government/publications/fuel-duty-rates-for-2026-to-2027/fuel-duty-rates-2026-to-2027

The Rural Fuel Duty Relief Scheme provides a 5p reduction to motorists buying fuel in certain areas. The areas included in the scheme demonstrate certain characteristics such as: pump prices much higher than the UK average; remoteness leading to high fuel transport costs from refinery to filling station, and; relatively low sales meaning that retailers cannot benefit from bulk discounts.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices affordable at the pump. As with all taxes, the Government keeps fuel duty under review.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps her Department is taking to support the growth of the Gaming Industry in Suffolk.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The government recognises the role the leisure sector plays in terms of its economic contribution but also to our culture. In the context of gaming, the government understands the benefits that bingo halls bring to local communities, and that bingo is a low-risk activity. To support the high street and community activities the government is abolishing Bingo Duty from April 2026.

More broadly, we are keen to ensure that Britain’s coastline – including the Suffolk coast – remain an attraction to domestic and international visitors. The government has set an ambitious goal to grow annual inbound tourism to 50 million visitors by 2030. To help achieve this, we have established a new Visitor Economy Advisory Council, which is currently helping to co-create a Visitor Economy Growth Strategy. The Strategy endeavours to share the benefits of tourism across every nation and region, including coastal and seaside areas.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what fiscal support her Department is providing to support the growth of the Gaming Industry.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The government recognises the role the leisure sector plays in terms of its economic contribution but also to our culture. In the context of gaming, the government understands the benefits that bingo halls bring to local communities, and that bingo is a low-risk activity. To support the high street and community activities the government is abolishing Bingo Duty from April 2026.

More broadly, we are keen to ensure that Britain’s coastline – including the Suffolk coast – remain an attraction to domestic and international visitors. The government has set an ambitious goal to grow annual inbound tourism to 50 million visitors by 2030. To help achieve this, we have established a new Visitor Economy Advisory Council, which is currently helping to co-create a Visitor Economy Growth Strategy. The Strategy endeavours to share the benefits of tourism across every nation and region, including coastal and seaside areas.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to WPQ 112096 answered on 23 February 2026 about 'VAT Fraud,' what recent discussions he has had with HMRC about trends in the levels of cases of organised criminals accessing VAT accounts using customers' registration details and claiming VAT refunds.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

HMRC has active investigations into organised crime VAT fraud. However, live case information isn’t routinely published, and disclosing the number of ongoing investigations would risk alerting or enabling those seeking to exploit the tax system.

Further to answer UIN 112096, HMRC have implemented additional controls over recent months to strengthen its systems and ensure access is limited to legitimate customers. As part of this, HMRC has established the Fraud Prevention Centre (FPC), a multi-functional team led by HMRC's Security directorate, focused on the protection, detection and response to identity-related security threats. The FPC also provides enhanced, direct support to customers and manages fraud in line with industry best practice.

HMRC has wide ranging criminal investigation powers, as set out on GOV.UK, and is resourced to investigate serious fraud, deploying compliance and enforcement capability to protect the integrity of the tax system. At Spring Statement 2025, the Government set out plans to expand HMRC's counter-fraud capability, including strengthening its response to organised criminal attacks.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 23 February 2026 to Question 112096 on VAT Fraud, how many cases are being investigated by HMRC of organised criminals accessing VAT accounts using genuine customers' registration details and claiming VAT refunds.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

HMRC has active investigations into organised crime VAT fraud. However, live case information isn’t routinely published, and disclosing the number of ongoing investigations would risk alerting or enabling those seeking to exploit the tax system.

Further to answer UIN 112096, HMRC have implemented additional controls over recent months to strengthen its systems and ensure access is limited to legitimate customers. As part of this, HMRC has established the Fraud Prevention Centre (FPC), a multi-functional team led by HMRC's Security directorate, focused on the protection, detection and response to identity-related security threats. The FPC also provides enhanced, direct support to customers and manages fraud in line with industry best practice.

HMRC has wide ranging criminal investigation powers, as set out on GOV.UK, and is resourced to investigate serious fraud, deploying compliance and enforcement capability to protect the integrity of the tax system. At Spring Statement 2025, the Government set out plans to expand HMRC's counter-fraud capability, including strengthening its response to organised criminal attacks.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the adequacy of HMRC's (a) investigative powers and (b) human resources to investigate cases of organised criminals accessing VAT accounts using genuine customers' registration details and claiming VAT refunds.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

HMRC has active investigations into organised crime VAT fraud. However, live case information isn’t routinely published, and disclosing the number of ongoing investigations would risk alerting or enabling those seeking to exploit the tax system.

Further to answer UIN 112096, HMRC have implemented additional controls over recent months to strengthen its systems and ensure access is limited to legitimate customers. As part of this, HMRC has established the Fraud Prevention Centre (FPC), a multi-functional team led by HMRC's Security directorate, focused on the protection, detection and response to identity-related security threats. The FPC also provides enhanced, direct support to customers and manages fraud in line with industry best practice.

HMRC has wide ranging criminal investigation powers, as set out on GOV.UK, and is resourced to investigate serious fraud, deploying compliance and enforcement capability to protect the integrity of the tax system. At Spring Statement 2025, the Government set out plans to expand HMRC's counter-fraud capability, including strengthening its response to organised criminal attacks.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of applying a (a) reduced and (b) zero rate of VAT to essential veterinary (i) treatment and (ii) medicines.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. Tax breaks reduce the revenue available for public services, and must represent value for money for the taxpayer.

Exceptions to the standard rate have always been limited and balanced against affordability considerations.

One of the key considerations for any potential new VAT relief is whether the cost saving is likely to be passed on to consumers. Evidence suggests that businesses only partially pass on any savings from lower VAT rates, meaning that cutting VAT may not be an effective way to reduce prices for consumers.

The Chancellor makes decisions on tax policy at fiscal events in the context of the overall public finances. Since taking office the Government has taken a number of decisions on tax, welfare, and spending to fix the public finances, fund public services, and restore economic stability. This stability is critical to boosting investment and growth, and to making people across the UK better off.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of updating the Approved Mileage Allowance Payments rate.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

Approved Mileage Allowance Payments (AMAPs) are used by employers to reimburse an employee's expenses for business mileage in their private vehicle. These rates are also used by self-employed drivers to claim tax relief on business mileage (simplified motoring expenses) and can be used by organisations to reimburse volunteers who use their own vehicle for voluntary purposes.

Employees can claim up to 45p/mile for the first 10,000 miles annually, followed by 25p/mile thereafter. An additional 5p/mile can be claimed for each passenger transported.

The government recognises while AMAP rates have not changed since 2011, the motoring landscape has evolved significantly and it is an important issue for many people who claim motoring expenses. As the Chancellor announced earlier this month, the government will review this issue and will consider this matter further as part of a future fiscal event.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the affordability of HMRC’s policy requiring people with Self-Assessment liabilities above £3,000 to enter into time to pay arrangements subject to interest; and whether she has considered reviewing the interest rate applied to those arrangements to ensure that individuals experiencing loss of income or financial hardship are not disproportionately affected.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

HMRC provides support to taxpayers who are unable to pay their tax liabilities in full through time to pay arrangements.

Taxpayers should contact HMRC as soon as possible so we can support them by working to negotiate time to pay what they owe based on their income and expenditure, designed to help customers pay what they owe in smaller, sustainable instalments. They are a longstanding option available to businesses and individuals who are in temporary financial difficulty and can be amended if the customers’ circumstances change.

Late payment interest is charged whenever tax is paid late and continues to accrue on amounts not paid on time, even if those amounts are included in a time to pay arrangement.

HMRC’s interest rates are set by statutory instrument. It is open to us to alter the rates, and we keep this under review. The rate balances the need to encourage payment, ensure fairness for those who do pay on time, the cost to the public purse of delayed payment, and affordability. Time to pay, and the guidance offered by HMRC advisers, is the mechanism by which additional support is given where needed.

If the rate of late payment interest is too low, HMRC may become the lender of first preference to some customers, impairing our ability to efficiently collect taxes and fund public services. HMRC’s debt balance grew significantly during the pandemic, and there is a risk of anything that encourages taxpayers to delay payment will further increase this. HMRC’s interest rate was linked to the Base of England base rate (BOE) in 2009 to introduce an element of independence in the rate setting. HMRC late payment rate is set in legislation as BOE +4% from April 2025.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate her Department has made of the compliance costs incurred by businesses to meet Making Tax Digital requirements to date for which the latest data is available.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

HMRC’s published assessment of the potential impact of MTD for Income Tax on taxpayers joining from April 2026 is available at:

Extension of Making Tax Digital for Income Tax Self Assessment to sole traders and landlords - GOV.UK

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate she has made of the number of high net worth individuals who have left the UK in each year since 2024.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

There is no single agreed definition of a high net worth individual, and taxpayers are not always required to inform HM Revenue and Customs when they leave the UK. Some individuals may submit a P85 after leaving the UK if they are seeking a repayment of income tax, but this is not required in all cases.

Taxpayers within Self Assessment can indicate that they have become non‑resident. Self Assessment tax returns for the 2025–26 tax year are not due until 31 January 2027.

The reforms to the tax treatment of non-domiciled individuals have been specifically designed to make the UK competitive, with a modern, simple tax regime that is also fair. The introduction of a residence-based tax system is expected to raise £39.5bn by 2030-31 (as costed by the OBR last autumn), and the OBR have said that there is no firm evidence to change the estimated impact of the reforms on migration. As set out at Budget 2025, the Chancellor has been clear that she will continue to assess the regime to ensure it strikes the right balance, including on competitiveness.

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the preparedness of (1) landlords, and (2) self-employed people, for making quarterly Making Tax Digital returns from April.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

The Government has taken a number of steps to help ensure those needing to use MTD for Income Tax from April 2026 are ready and can do so successfully. This includes media campaigns, awareness letters and extensive online help, such as webinars, recorded YouTube videos, e‑learning, and guidance on GOV.UK. A wide range of MTD‑compatible software products is available, including free options, and thousands of new taxpayers are signing up to the service every week.

MTD quarterly updates are not like making a tax return each quarter. Software will manage much of the process, creating simple summaries of income and expenses from the taxpayer’s digital records ready for submission. Information will be carried forward to the tax return, helping to reduce errors and make the end of year process faster and easier.

Question to the HM Treasury:

To ask His Majesty's Government, in the light of their legislative plans to cap salary sacrificed pension contributions, whether both workers and employers will have to pay national insurance on pension contributions above the £2,000 limit, or whether only workers will have to pay additional national insurance.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

The Government announced at the Budget last year that salary sacrificed in favour of employer pension contributions will be chargeable to employee and employer NICs from April 2029, but only on amounts exceeding £2,000. This £2,000 threshold ensures that those on higher incomes do not get a disproportionate benefit, whilst protecting lower income employees and their employers making typical contributions.

Saving into a pension, including through salary sacrifice, remains highly tax advantageous. The Government continues to provide over £70 billion of income tax and NICs relief on pension contributions each year.

Question to the HM Treasury:

To ask His Majesty's Government what plans they have, if any, to expand the Bank of England's remit to include focusing on growth and the overall health of the economy, as well as bearing down on inflation.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

The Government has no plans to change the remit of the Monetary Policy Committee (MPC).

Subject to maintaining price stability, the MPC’s secondary objective is to support the economic policy of the Government, which is to “restore broad based and resilient growth built on strong and secure foundations”. The MPC regularly states that it sets monetary policy to meet the 2% inflation target “in a way that helps to sustain growth and employment”.

Low and stable inflation is essential for long-term economic growth, so the MPC has the Government’s full support as it acts to return inflation to target sustainably.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with the Department of Health and Social Care on the provision financial redress for families affected by sodium valproate during pregnancy.

Answered by James Murray - Chief Secretary to the Treasury

The Chancellor and the Secretary of State for Health and Social Care are in regular contact on a range of issues.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of (a) business rates and (b) other property-based business taxation on town centres and high streets.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

The Government is creating a fairer business rates system that protects the high street. That is why, from April, the Government will introduce new permanently lower multipliers for eligible retail, hospitality and leisure (RHL) properties. These new multipliers are worth nearly £1 billion per year and will benefit over 750,000 properties, including those in town centres and on the high street.

The new RHL multipliers replace the temporary RHL relief that has been winding down since the pandemic. 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.

In addition, at the Budget, the Government announced a support package worth £4.3 billion to help protect ratepayers seeing large bills increases as a result of the 2026 revaluation.

On top of this, pubs and live music venues will benefit from 15% off their new business rates bills from April, ahead of their bills being frozen for two years in real terms.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to Answer of 10 February 2026 to Question 109627 on Music Venues and Public Houses: Business Rates, if she will publish information on pubs and live music venues relief.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

In 2026/27, all pubs and live music venues will benefit from 15% relief on their new business rates bills on top of the support announced at the Budget. Their bills will then be frozen in real terms for two years from April 2027.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Secretary of State for Foreign, Commonwealth and Development Affairs' Oral Statement of 19 March 2026 on International Development, Official Report, columns 1042-1045, what proportion of the reduction in the development budget will be spent on defence in (a) 2026/27, (b) 2027/28 and (c) 2028/29.

Answered by James Murray - Chief Secretary to the Treasury

In 2026/27, 2027/28 and 2028/29, 100 percent of the reduction in the Official Development Assistance (ODA) budget will be spent on defence.

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of (1) the use of artificial intelligence tools by consumers when making mortgage and other financial product decisions, and (2) the implications of that use for consumer protection.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

The majority of mortgage loans are intermediated. Mortgage brokers are regulated by the Financial Conduct Authority and must comply with FCA Rules including the Consumer Duty and relevant mortgage conduct rules.

Regulated firms are already required to manage technology-related risks to consumers and financial stability, including those arising from the use of artificial intelligence (AI), under existing FCA rules. These include requirements relating to governance, operational resilience and data use.

The Government believes that the safe adoption of AI by the financial services sector is a major strategic opportunity that will power growth across the economy. As set out by the Chancellor in her Mais lecture, the Government’s ambition is for the UK to be the fastest adopter of AI in the G7, to boost productivity, drive economic growth, and deliver better products for consumers.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of allowing people with disabilities and chronic illness so add voluntary National Insurance contributions beyond the current six year limit.

Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)

Individuals can pay voluntary National Insurance contributions for up to six years in arrears to fill gaps in their National Insurance record.

There are also a wide range of National Insurance credits available, ensuring people can build their National Insurance record. Some are linked to benefits that can be claimed in relation to illness or disability such as Employment and Support Allowance.

Question to the HM Treasury:

To ask His Majesty's Government, with regard to the Action Plan to ensure regulators and regulation support growth, published on 17 March 2025, what assessment they have made of the potential for more novel and contentious funding proposals to drive private investment and encourage regulators to increase innovation.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

Well-designed and well-implemented regulation has an essential role in unlocking investment and innovation. In the Action Plan, the Government is clear that the cumulative burden of regulation has grown to disproportionate levels, fuelling complexity and uncertainty; and that excessive baked-in risk-aversion and unpredictable regulatory processes can negatively impact growth.

The Government is addressing these challenges by bringing the administrative burden of regulation down by 25 per cent; increasing the strategic alignment between the Government's objectives and regulator activity; and backing regulators to challenge excessive risk aversion across the system.

To ensure regulation keeps pace with technological change, the Business Secretary will soon legislate for our new ‘Growth Labs’. This is a new approach to regulation, with the power to make rapid, temporary amendments to regulation to safely test and prove application of new tech.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of providing relief on employer's National Insurance Contributions for a) those not in education, employment or training, b) the long-term sick and c) those under the age of 24.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

Businesses are able to claim employer National Insurance Contribution reliefs including those for under-21s and under-25 apprentices on earnings up to £50,270. These reliefs are forecast to be worth around £2.5 billion in 2025/26.

The government is committed to providing young people with the support they need to earn or learn. At the last Budget, we committed more than £1.5 billion to back young people through the Youth Guarantee and invest additional funding in the Growth and Skills Levy. We recently went further, announcing around £1 billion more to help unlock up to 200,000 job and apprenticeship opportunities for young people.

The government will also provide personalised employment and health support for anyone on out of work benefits with a work-limiting health condition or disability, as set out in the Pathways to Work Green Paper.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of providing relief on employer's National Insurance Contributions for those a) not in education, employment or training and b) under the age of 24 on youth unemployment.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

Businesses are able to claim employer National Insurance Contribution reliefs including those for under-21s and under-25 apprentices on earnings up to £50,270. These reliefs are forecast to be worth around £2.5 billion in 2025/26.

The government is committed to providing young people with the support they need to earn or learn. At the last Budget, we committed more than £1.5 billion to back young people through the Youth Guarantee and invest additional funding in the Growth and Skills Levy. We recently went further, announcing around £1 billion more to help unlock up to 200,000 job and apprenticeship opportunities for young people.

The government will also provide personalised employment and health support for anyone on out of work benefits with a work-limiting health condition or disability, as set out in the Pathways to Work Green Paper.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether the actions under the Agenda for Change uplift and a fairer deal for nurses statement for NHS England published on on 12 February 2026 will lead to additional funding for the Welsh Government through the Barnett Formula.

Answered by James Murray - Chief Secretary to the Treasury

The Department for Health and Social Care received funding to deliver the actions under the Agenda for Change uplift and a fairer deal for nurses statement at Spending Review 2025, with the Barnett formula applying in the usual way, as set out in the Statement of Funding Policy.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, how much of the money allocated to the Equitable Life compensation fund is expected to be retained by her Department, in the context of contingency funds.

Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will take steps to ensure that contingency funding linked to the Equitable Life Payment Scheme will be used to compensate Equitable Life policyholders.

Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential implications for her policies of the Equitable Members' Action Group’s analysis of Government spending on the compensation package for people affected by financial losses related to Equitable Life policies, published in January 2026.

Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of increases in regulatory alignment with the EU on economic growth in the Buckingham and Bletchley constituency.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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%.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what analysis HM Treasury has undertaken on the potential effect of UK–EU alignment measures on levels of UK competitiveness.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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%.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of increases in levels of UK-EU alignment on UK labour markets.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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%.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the potential economic impact on Scottish communities of the estimated £551 million shortfall between the Financial Conduct Authority's proposed motor finance redress scheme pay outs and potential court awards as outlined in the APPG on Fair Banking Report on Car Finance redress published in November 2025.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether banking hubs are obliged to accept cheque deposits.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, who she has had discussions with in the Northern Ireland Executive on the Credit Union Common Bond Reform Call for Evidence Response.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with the Financial Conduct Authority regarding its proposal to set compensatory interest for motor finance redress at the Bank of England base rate plus one per cent, in the context courts recently awarding eight per cent to compensate vulnerable consumers for consequential financial losses.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what sectors have been identified as priorities for UK–EU alignment under the growth plan.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, when her Department expects all eligible retired members of public service pension schemes under its responsibility to receive their McCloud remedy payments; and what steps she is taking to expedite payments to affected pensioners.

Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what the forecast rate of UK economic growth is expected to be in each year of the forecast period; what the principal risks are to those forecasts; and what policy measures she intends to pursue to improve long-term productivity and economic growth.

Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)

The independent Office for Budget Responsibility (OBR) published its latest Economic and Fiscal Outlook (EFO) on the 3^rd 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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what fiscal headroom the Government is forecast to have against its fiscal rules in each year of the forecast period; what sensitivity analysis has been undertaken by the Office for Budget Responsibility regarding changes in growth, interest rates or inflation; and what assessment she has made of the level of risks to the Government’s ability to meet its fiscal targets.

Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)

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

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what recent assessment she has made of the potential impact of rules on tax relief on touring costs in Europe.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to change cultural tax reliefs to account for the cost of touring.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of name of the high value council tax surcharge on public awareness of the local authorities' role in the process of collecting revenue from this tax.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 February 2026 to Question 111691 on Valuation Office Agency: Conference, if she will publish the presentations from the Valuation Office Agency at the (a) December 2024, (b) March 2025 and (c) September 2025 international conferences.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

We do not routinely publish this information.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the fiscal implications of joint defence financing arrangements with Finland and the Netherlands.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to her Department’s press release entitled Chancellor and Energy Secretary meet with fuel bosses in No11 as government order crackdown on pump prices, published on 13 March 2026, what analysis her Department has undertaken of the time taken by fuel retailers to pass on decreases in wholesale fuel costs to motorists.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to her Department’s press release entitled Chancellor and Energy Secretary meet with fuel bosses in No11 as government order crackdown on pump prices, published on 13 March 2026, what analysis her Department has undertaken of the time taken by fuel retailers to pass on increases in wholesale fuel costs to motorists.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to her Department’s press release entitled Chancellor and Energy Secretary meet with fuel bosses in No11 as government order crackdown on pump prices, published on 13 March 2026, what information her Department holds on the causes of variations in fuel prices.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps HM Treasury is taking to ensure regulatory co-operation with Spain supports UK-based exporters.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether the Bank of England still has a sitting Banknote Character Advisory Committee.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether HM Treasury has held discussions with international partners on the use of sanctions in response to reported serious human rights abuses in Hong Kong prisons.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions her Department has had with the Bank of England on the removal of historic figures from UK bank notes.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what measures are in place to ensure value for money in joint defence financing arrangements with Finland and the Netherlands.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether the Northern Ireland Executive has the ability to create an energy support scheme for users of home heating oil with funding from the UK government, announced in the Autumn budget.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what the average staffing complement is for a ministerial private office within their Department; what grades those staff are appointed at; what the typical remuneration and contracted working hours are for those posts; and what the staff turnover rate is.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, at what domestic conferences the Valuation Office Agency has made presentations since July 2024.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with the Secretary of State for Business and Trade on additional funding for extending the UK Supercharger Scheme.

Answered by James Murray - Chief Secretary to the Treasury

The Chancellor has regular discussions with the Secretary of State for Business and Trade on a range of topics.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what the projected levels of total public expenditure are expected to be in (a) 2026-2027, (b) 2027-2028, (c) 2028-2029, (d) 2029-2030 and (d) 2030-2031 financial years; which areas of public spending are expected to see the largest increases over the forecast period; and what steps her Department intends to take to manage spending pressures within departmental budgets.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the impact of industrial energy prices on economic growth.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what Barnett consequentials will be generated for the Scottish government by (a) grants awarded to local authorities in England to address SEND deficits announced in the written statement entitled Local Government Finance Settlement 2026-27 to 2028-29, published on 9 February 2026, HCWS1315, and (b) additional funding for SEND announced in the Spring Statement.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what Barnett consequentials will be generated for Scotland by (a) the awarding of grants to local authorities in England to address SEND deficits, as set out in UIN HCWS1315 and (a) the funding for SEND announced in the Spring Statement 2026.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment her Department has made of the adequacy of support available to households using heating oil, in the context of rising global oil prices linked to the conflict in Iran.

Answered by James Murray - Chief Secretary to the Treasury

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.

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the impact of fintech investment platforms on competition, costs and investment choice in the self-invested personal pension market; and what steps they are taking to support innovation in digital pension products while maintaining appropriate regulatory safeguards.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the impact and role of accelerator and innovation programmes that support the growth of early-stage financial technology firms.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask His Majesty's Government, further to the Written Answers by Lord Livermore on 9 December 2025 (HL12629) and 27 January (HL13469), whether any special advisers briefed Budget 2025 policy announcements to the media (1) prior to formal ministerial statements made to Parliaments, and (2) without an accompanying official government announcement.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the risks associated with the expansion of buy-now-pay-later lending through digital wallets and online marketplaces; and how the new regulatory framework will ensure effective affordability checks and consumer protection.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what comparative assessment her Department has made of the (a) VAT Registration Threshold and (b) rate of inflation between 2014 and 2026.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of introducing the full 20p discount to the business rates multiplier for retail, hospitality and leisure on the hospitality sector.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing the full 20p discount to the business rates multiplier for retail, hospitality and leisure.

Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that SMEs not party to (a) NFU Mutual and (b) Bath Racecourse litigation are not permanently deprived of the right to an indemnity due to the expiration of limitation periods.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of valid Covid-19 business interruption claims becoming time-barred in March 2026 on the insurance sector.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with the FCA on stop the clock guidance and related litigation.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to ensure that policyholders with protected characteristics are not discriminated against by insurance companies.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the impact of Revolt being granted a banking licence on regulation and competitiveness in the fintech sector.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask His Majesty's Government, in regard to section 7 of the Sovereign Grant Act 2011, on what date they expect to receive the report of the Royal Trustees on the 2026 review of the Sovereign Grant; and on what date they expect that report to be laid before Parliament.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

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.

Question to the HM Treasury:

To ask His Majesty's Government whether they plan to introduce legislation to adjust and reduce the Sovereign Grant in the next King's Speech.

Answered by Lord Livermore - Financial Secretary (HM Treasury)

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.

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Question to the Home Office:

To ask the Secretary of State for the Home Department, with reference to the Home Office guidance, Funding Instruction for Local Authorities: Asylum Grant 2025 - 2026, updated 23 April 2025, how many councils are participating in the LA-led asylum accommodation pilots.

Answered by Alex Norris - Minister of State (Home Office)

The Asylum Grant supports local authorities with a contribution to the costs and pressures of accommodating asylum seekers across all eligible accommodation types through a baseline payment of £1,200 per occupied bedspace and quarterly growth payments of £100 per net growth in newly occupied bedspaces. This grant started in 2021/22 and has been renewed yearly with the approval of HM Treasury. There is no unique link between this and local authority-led asylum accommodation pilots. No decisions have yet been made on which local authorities will participate in asylum accommodation pilots.

Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, what recent assessment her Department has made of the potential impact of artificial intelligence on employment in the next five years.

Answered by Kanishka Narayan - Parliamentary Under Secretary of State (Department for Science, Innovation and Technology)

The Government recognises that AI is transforming workplaces, demanding new skills and augmenting existing roles. We have launched the AI and the Future of Work Unit - a cross‑government function dedicated to ensuring AI delivers positive outcomes for the economy, jobs, and workers. We are preparing for a range of possible futures to ensure this transformation boosts productivity and opportunities and the Government launched an assessment of AI impacts on the labour markets in January 2026.

To build a digitally skilled workforce to support long-term economic growth, drive innovation and expand individual opportunity we are supporting AI Skills Boost to upskill 10 million workers in AI skills by 2030. We have already delivered more than 1 million AI training courses have been delivered to workers across the UK.

Building on the Future of Work Unit, the Chancellor announced a new AI Economics Institute in her recent Mais Lecture. This joint HMT-DSIT institute will incorporate the FoW Unit, as part of a broader focus on the economics of AI, including labour market, productivity and other impacts.

Question to the Department for Work and Pensions:

To ask the Secretary of State for Work and Pensions, what assessment he has made of the potential impact of the freeze in Local Housing Allowance on levels of rough sleeping and homelessness in England.

Answered by Stephen Timms - Minister of State (Department for Work and Pensions)

The causes of rough sleeping and homelessness are multifaceted and are driven by a range of factors, both personal and structural.

Local Housing Allowance (LHA) rates are annually reviewed, usually in the Autumn. At Autumn budget 2025, the Secretary of State for Work and Pensions reviewed LHA and announced that rates would be maintained at their current levels for 2026/27. Rent levels across Great Britian were considered alongside other factors such as the challenging fiscal context and welfare priorities, including the removal of the two-child limit which will bring 450,000 children out of poverty.

DWP worked closely with the Ministry of Housing, Communities and Local Government on the National Plan to End Homelessness, which is driving sustainable change and addressing the root causes of homelessness and we continue working together with MHCLG and HMT to keep LHA rates under review.

Renters facing a shortfall in meeting their housing costs can apply for discretionary housing support from local authorities.

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Found: This is set to an annual rate of 3.5% for the 10-year appraisal period, in line with HMT Greenbook

Found: RPC-HMT-25105-IA(1) 1 06/01/2026 The Money Laundering and Terrorist Financing (Amendment and Miscellaneous

Found:  gave a ‘green’ rating to the impact assessment for the reforms proposed by His Majesty’s Treasury (HMT

Found: HMP His Majesty’s Prison HMPPS His Majesty’s Prison and Probation Service (or the Prison Service) HMT

Found: monthly basis Within 30 days of the end of a Yearly Quarter, the UK DP must make a report to HM Treasury

Found: Office of Financial Sanctions Implementation HM Treasury

Found: assumptions and data A social discount rate of 3.5 per cent is used to obtain present values, see HM Treasury

Found: assumptions and data A social discount rate of 3.5 per cent is used to obtain present values, see HM Treasury

Found: HM Treasury (2003) The Green Book, Appraisal and Evaluation in Central Government, (2003 version includes

Found: employees of other central banks, financial institutions and finance ministries to undertake a work HM Treasury

Found: Project governance, budgeting and transparency. 1.3 You should read this guidance alongside: • HM Treasury

Found: You should read this guidance alongside: HM Treasury Green Book and Business Case guidance (including

Found: Transaction Control Framework, ensuring long-term value for money by deploying finance in line with HM Treasury

Found: (HMT), the National Infrastructure and Service Transformation Authority (NISTA) and Cabinet Office (

Found: Projects not on the GMPP but still requiring HM Treasury approval will continue to have their expenditure

Found: UKGI is owned by HM Treasury and independently managed with a Board comprised predominantly of independent

Found: Section 8 Taxation (Cross -Border Trade) Act 2018 requires HM Treasury to make regulations establishing

Found: (6) The HM Treasury Public Expenditure Statistical Analysis for 2019 demonstrates a spending review

Found: Comptroller and Auditor General (the National Audit Office) by mutual agreement with the FCDO and HM Treasury

Found: Where recommendations include proposals on tax policy, DCMS will be providing evidence to HM Treasury

Found: Managing Public Money (“MPM”) (as updated from time to time) and has been approved by HM Treasury

Found: The following set of Freedoms was approved by HM Treasury and Cabinet Office on 26 April

Found: Appropriate planning should be carried out to account for DCMS & HMT approval

Found: Health and Social Care (DHSC) and NHS Blood and Transplant (NHSBT) in accordance with HM Treasury's (HMT

Found: The Cabinet Secretary said: “The timing of the consultation is in the hands of HM Treasury, but this

Found: therefore urge the government to allow the BBC greater access to capital and will work closely with HM Treasury

Found: Committee recommends that the Welsh Government provides an update on discussions it has held with HM Treasury

Found: Committee recommends that the Welsh Government provides an update on discussions it has held with HM Treasury

Found: financial year and calls on the Welsh Government to provide an update on any discussions it has with HM Treasury

Found: Logic models and theories of change are commonly used to evaluate policies (see for example HM Treasury

Found: as set out in your Business Plan 26/27, provided that all acquisitions are in accordance with HM Treasury

Found: It also follows confirmation from HM Treasury earlier this year that no budgetary solution would be offered

Found: This treatment is fully consistent with HM Treasury Green Book guidance on identifying real economic

Found: Managing Public Money, issued by HM Treasury in June 2025, emphasises that effective IP management is