Question to the HM Treasury:

To ask His Majesty's Government what assessment they have made of the approach to quantitative tightening undertaken by the European Central Bank and US Federal Reserve, which allow the relevant bonds to mature rather than engaging in the sale of such bonds.

Answered by Lord Livermore

The Bank of England has operational independence from the Government to carry out its statutory responsibilities for monetary policy, including quantitative easing and quantitative tightening.

HM Treasury’s response to the Treasury Select Committee’s inquiry into QT set out that different unwind paces will impact the time profile of when losses are incurred but are expected to have little effect on total cost in present value terms. Therefore, all else equal, there is no reason to believe that holding gilts for longer would avoid these losses. Instead, a higher net interest cost would be incurred from holding the portfolio for longer. QT also reduces the sensitivity of the public finances to changes in interest rates.

Since October 2022, HM Treasury has transferred £107.64bn to the Bank of England to cover losses arising from the indemnity of the Asset Purchase Facility, the vehicle used to implement quantitative easing. This covers losses incurred from net interest costs and the sale and redemption of bonds as the portfolio is unwound.  Since 2013, the Bank of England has transferred £123.85bn to HM Treasury, giving HM Treasury a net position of £16.21bn to date.

Data on these cash transfers are made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication. The data are available in the ONS data series ID MF7A in worksheet PSA9B.

Question to the HM Treasury:

To ask His Majesty's Government what has been the cost to public funds of the Treasury's arrangement to support the Bank of England practice of quantitative tightening since 2022.

Answered by Lord Livermore

The Bank of England has operational independence from the Government to carry out its statutory responsibilities for monetary policy, including quantitative easing and quantitative tightening.

HM Treasury’s response to the Treasury Select Committee’s inquiry into QT set out that different unwind paces will impact the time profile of when losses are incurred but are expected to have little effect on total cost in present value terms. Therefore, all else equal, there is no reason to believe that holding gilts for longer would avoid these losses. Instead, a higher net interest cost would be incurred from holding the portfolio for longer. QT also reduces the sensitivity of the public finances to changes in interest rates.

Since October 2022, HM Treasury has transferred £107.64bn to the Bank of England to cover losses arising from the indemnity of the Asset Purchase Facility, the vehicle used to implement quantitative easing. This covers losses incurred from net interest costs and the sale and redemption of bonds as the portfolio is unwound.  Since 2013, the Bank of England has transferred £123.85bn to HM Treasury, giving HM Treasury a net position of £16.21bn to date.

Data on these cash transfers are made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication. The data are available in the ONS data series ID MF7A in worksheet PSA9B.

Question to the Department of Health and Social Care:

To ask His Majesty's Government what assessment they have made of regional variation in England in access to, and take up of, biologic medicines for people with (1) severe asthma, and (2) chronic pulmonary obstructive disease.

Answered by Baroness Merron - Parliamentary Under-Secretary (Department of Health and Social Care)

There is currently a total of 21,654 people with severe asthma receiving a biologic for severe asthma in England. The number of people receiving a biologic is based on the number of requests received in the last 12 months, from June 2025 to May 2026, for either new initiation or continuation of asthma biologic treatment. The following table shows a breakdown of the asthma figures by integrated care board (ICB):

In addition, the following table shows a breakdown of the asthma figures by region:

Data relating to chronic pulmonary obstructive disease is (COPD) not held. However, through the £10 million Respiratory Transformation Partnership, launched in March, the Government is working with NHS England, the Health Innovation Network, industry, and third sector partners to improve care across asthma and COPD pathways. This includes earlier diagnosis, better long-term management, and pathway redesign to support more consistent uptake of biologic medicines.

Question to the Department of Health and Social Care:

To ask His Majesty's Government how many people with (1) severe asthma, and (2) chronic pulmonary obstructive disease, are currently prescribed biologic medicines in England, with figures for each integrated care board and NHS region.

Answered by Baroness Merron - Parliamentary Under-Secretary (Department of Health and Social Care)

There is currently a total of 21,654 people with severe asthma receiving a biologic for severe asthma in England. The number of people receiving a biologic is based on the number of requests received in the last 12 months, from June 2025 to May 2026, for either new initiation or continuation of asthma biologic treatment. The following table shows a breakdown of the asthma figures by integrated care board (ICB):

In addition, the following table shows a breakdown of the asthma figures by region:

Data relating to chronic pulmonary obstructive disease is (COPD) not held. However, through the £10 million Respiratory Transformation Partnership, launched in March, the Government is working with NHS England, the Health Innovation Network, industry, and third sector partners to improve care across asthma and COPD pathways. This includes earlier diagnosis, better long-term management, and pathway redesign to support more consistent uptake of biologic medicines.

Question to the Department of Health and Social Care:

To ask His Majesty's Government what steps they are taking to increase access to biologic medicines for people with asthma and chronic pulmonary obstructive disease.

Answered by Baroness Merron - Parliamentary Under-Secretary (Department of Health and Social Care)

There is currently a total of 21,654 people with severe asthma receiving a biologic for severe asthma in England. The number of people receiving a biologic is based on the number of requests received in the last 12 months, from June 2025 to May 2026, for either new initiation or continuation of asthma biologic treatment. The following table shows a breakdown of the asthma figures by integrated care board (ICB):

In addition, the following table shows a breakdown of the asthma figures by region:

Data relating to chronic pulmonary obstructive disease is (COPD) not held. However, through the £10 million Respiratory Transformation Partnership, launched in March, the Government is working with NHS England, the Health Innovation Network, industry, and third sector partners to improve care across asthma and COPD pathways. This includes earlier diagnosis, better long-term management, and pathway redesign to support more consistent uptake of biologic medicines.

Question to the Department for Business, Innovation, Science and Trade:

To ask His Majesty's Government how many data centres are using or adapting their equipment to enable recycling of their own water for cooling systems; and how many data centres of older design and construction are not proceeding with such improvements and will continue to reply on a local water supply.

Answered by Baroness Lloyd of Effra - Parliamentary Under-Secretary of State (Department for Digital, Culture, Media and Sport)

The Department for Business, Innovation, Science and Trade, works with DEFRA, the Environment Agency and others to ensure data infrastructure growth does not compromise public water supply resilience. To that end, the Government supports the adoption of efficient cooling technologies (closed-loop systems) and alternative sources like rainwater harvesting. National planning policy embeds consideration of sustainable water use and resource efficiency in decision making. In 2025, a techUK–Environment Agency survey found that 51% of surveyed sites use closed loop cooling systems, and 64% use less than 10,000m³ of water per year. This is small compared to other sectors. Data centres in England are estimated to account for around 0.2% of non-household water use.

Question to the HM Treasury:

To ask His Majesty's Government what plans they have, if any, to make pension tax relief conditional upon undertakings by the funds to invest at least 15 per cent of their equity portfolios in British public and private companies.

Answered by Lord Pitt-Watson - Parliamentary Secretary (HM Treasury)

The Government's approach is underpinned by the Pension Schemes Act 2026, which introduced a package of reforms, including measures to support scheme consolidation, improve value for money and create the conditions for greater long-term investment in productive assets.

Under the Mansion House Accord, 17 of the UK's largest workplace pension providers have voluntarily committed to invest at least 10 per cent of their default funds in private markets by 2030, with at least half of that invested in the UK.

This voluntary industry-led commitment aims to unlock significant additional investment in productive assets across the UK economy, including in private companies, and the Government is encouraged by the progress made to date.

Question to the HM Treasury:

To ask His Majesty's Government what estimate they have made of the effect of bond sales by the Bank of England, undertaken because of quantitative tightening, on long-term borrowing rates; and what assessment they have made of the additional 30 basis points on the yields of long-dated bonds, including its effects on long-term interest rates and its cost to public finances.

Answered by Lord Pitt-Watson - Parliamentary Secretary (HM Treasury)

The Bank of England has operational independence from the government to carry out its statutory responsibilities for monetary policy and financial stability. Monetary policy, including the pace of quantitative easing and quantitative tightening, is the responsibility of the independent Monetary Policy Committee at the Bank of England. The Government does not comment on monetary policy decisions.

The Office for Budget Responsibility (OBR) forecasts debt interest costs as part of the fiscal forecasts in its Economic and Fiscal Outlook.

Since October 2022, HM Treasury has transferred £110.72bn to the Bank of England to cover losses arising from the indemnity of the Asset Purchase Facility, the vehicle used to implement quantitative easing. This covers losses incurred from net interest costs and the sale and redemption of bonds as the portfolio is unwound. Since 2013, the Bank of England has transferred £123.85bn to HM Treasury, giving HM Treasury a net position of £13.13bn to date.

Data on these cash transfers between HM Treasury and the Bank of England are made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication.

Question to the HM Treasury:

To ask His Majesty's Government what estimate they have made of (a) gains to HM Treasury from the years of operation of quantitative easing, and (b) the losses to HM Treasury since 2022 from quantitative tightening as a result of the implementation of the agreement for HM Treasury to cover losses made as a result of the decision by the Bank of England to sell bonds.

Answered by Lord Pitt-Watson - Parliamentary Secretary (HM Treasury)

The Bank of England has operational independence from the government to carry out its statutory responsibilities for monetary policy and financial stability. Monetary policy, including the pace of quantitative easing and quantitative tightening, is the responsibility of the independent Monetary Policy Committee at the Bank of England. The Government does not comment on monetary policy decisions.

The Office for Budget Responsibility (OBR) forecasts debt interest costs as part of the fiscal forecasts in its Economic and Fiscal Outlook.

Since October 2022, HM Treasury has transferred £110.72bn to the Bank of England to cover losses arising from the indemnity of the Asset Purchase Facility, the vehicle used to implement quantitative easing. This covers losses incurred from net interest costs and the sale and redemption of bonds as the portfolio is unwound. Since 2013, the Bank of England has transferred £123.85bn to HM Treasury, giving HM Treasury a net position of £13.13bn to date.

Data on these cash transfers between HM Treasury and the Bank of England are made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication.

Question to the Department of Health and Social Care:

To ask His Majesty's Government what steps are taken by the NHS to inform asthma sufferers of the availability of biologic injections as a possible treatment for their condition; and whether the NHS policy on such public information varies from area to area.

Answered by Baroness Merron - Parliamentary Under-Secretary (Department of Health and Social Care)

The Respiratory Transformation Partnership is working to improve asthma care, including earlier diagnosis, better long-term management, and pathway redesign to support more consistent uptake of biologic medicines. Further information is available at the GOV.UK website in an online-only format.

Question to the Home Office:

To ask His Majesty's Government why the powers under the Public Order Act 1936 relating to the wearing of uniforms have not been used during political protests and demonstrations where people are dressed in similarly coloured clothing.

Answered by Lord Hanson of Flint - Minister of State (Home Office)

Police have a broad suite of powers available to manage protests, respond to disorder and address criminality where the relevant legal thresholds are met.

The use of these powers is a matter for operationally independent forces who will take decisions on a case-by-case basis, to ensure that enforcement is proportionate and effective in protecting communities from harm.