Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has had discussions with banks on maintaining high street branches to 2030.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Chancellor and Treasury Ministers regularly engage with banks on a range of issues, including access to banking services.
Banking is changing, with many customers benefiting from the convenience and flexibility of managing their finances remotely. However, Government understands the importance of face-to-face banking to high streets and communities and is committed to championing sufficient access for customers. The financial services industry is committed to rolling out 350 banking hubs across the UK by the end of this Parliament. Over 240 hubs have been announced so far, and more than 190 are already open. Government is working closely with industry on this commitment.
While decisions on branch provision are commercial decisions for banks themselves, Financial Conduct Authority guidance requires firms to conduct a robust impact analysis. In the case of closures, firms must show they have considered customer needs and identified potential reasonable alternatives. The FCA also expects engagement with stakeholders at least 12 weeks before closure and firms must ensure that any replacement services are in place before a branch closes. These measures aim to ensure closures are implemented fairly and transparently.
As well as bank branches, alternative non-digital options to access everyday banking services include telephone banking and the Post Office. The Post Office Banking Framework allows personal and business customers of participating banks to withdraw and deposit cash, check their balance, pay bills and cash cheques at thousands of Post Office branches across the UK.
Some banks also provide points of access through initiatives such as pop-up services in libraries and community centres, or mobile banking vans serving remote areas. The Government supports initiatives which give customers access to in-person banking, as well as digital access.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to further regulate business lending where (a) a private residence is used as security (b) personal guarantees are required as a condition of the loan.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government has set out its plans in this area in its small business strategy, ‘Backing Your Business’, published this summer, and in the Government’s reply to the Call for Evidence on SME Finance, published earlier this month.
As set out in the Government’s small business strategy, the Government is committed to working with lenders to ensure the appropriate use of personal guarantees. This includes the introduction of a mandatory Code of Conduct for accredited lenders that use the British Business Bank’s Growth Guarantee Scheme, to ensure that personal guarantees under the Scheme are used fairly and transparently.
The Government is also working with UK Finance to build on its existing lender commitments to use personal guarantees responsibly, and with the business finance community to help businesses access the right finance on the right terms, including where personal guarantees are involved.
More widely, personal guarantees can play a necessary role in business lending, where they may help enable SMEs to access lending that might otherwise not be advanced, or where the price of lending would deter SMEs from accessing finance. This includes cases where a business has limited or no trading history, nor assets for use as collateral to access debt finance. While personal guarantees may be called upon, this does not automatically result in enforcement action, and property repossessions linked to personal guarantees remain rare.
The Government will continue to keep the issues relating to personal guarantees under review and promote further transparency around their use.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate has been made of the value of the tourism levy by mayoral combined authority area.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The precise design and scope of the power for Mayors to introduce a visitor levy if they so choose is still under development.
The Government has published a consultation running until 18 February 2026, so that the public, businesses, and local government can shape the design of the power to introduce a levy that will be devolved to local leaders.
The impacts of the levy, including how much it will raise, will largely be determined by local decisions. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals. We expect Mayors to engage constructively with businesses and their communities to hear their concerns. This will inform their decisions regarding whether and how a levy will be applied and how any revenue is raised. Giving this power to local leaders who best understand their region enables them to tailor it to growing their local economies.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment has been made of the potential impact of the lower rate of business rates retail, hospitality and leisure multipliers, revaluation, and transition arrangements on pubs, bars and restaurants.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The amount of business rates paid on each property is based on the rateable value of the property, assessed by the Valuation Office Agency (VOA), and the multiplier values, which are set by the Government. Rateable values are re-assessed every three years. Revaluations ensure that the rateable values of properties (i.e. the tax base) remain in line with market changes, and that the tax rates adjust to reflect changes in the tax base.
At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since Covid, which has led to significant increases in rateable values for some properties, including those in the hospitality sector as they recover from the pandemic. To support with bill increases, at the Budget, the Government announced a support package worth £4.3 billion over the next three years, including protection for ratepayers seeing their bills increase because of the revaluation. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down. This means most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.
More broadly, the Government is delivering a long overdue reform to rebalance the business rates system and support the high street, as promised in our manifesto.
The Government is doing this by introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties, including pubs. These new tax rates are worth nearly £900 million per year, and will benefit over 750,000 properties.
The new RHL tax rates replace the temporary RHL relief that has been winding down since Covid. Unlike RHL relief, the new rates are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has been made of the potential impact of proposed changes to the annual subscription limit of ISA savings for under-65s on the range of building society lending products.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
This government’s number one priority is growth, putting more money in people’s pockets and creating an economy that both works for and rewards working people.
A key part of this is people’s savings, which are not working hard enough for them or the economy because hundreds of millions of pounds are sitting in low-interest earning accounts.
We want to get more people investing so they can also benefit from the growth of the FTSE which has grown by 50% in the last 5 years.
Investing generates better returns over the long term, and this is about getting the balance right cash savings and investment. If you invested £1,000 a year in an average stocks and shares ISA every year from 1999, you would be £50,000 better off compared to having saved the same amount in a cash ISA
This policy will affect those aged under 65 from April 2027, but the overall ISA limit will remain at £20,000 for all savers when the annual Cash ISA limit is set at £12,000. It will not affect existing cash ISA savings.
The government regularly engages with the building societies sector to understand how best to support its growth.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to require HMRC to review 2010 mileage rates to reflect 2025 costs.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Approved Mileage Allowance Payment rates are used by employers to reimburse an employee's expenses, tax free, for business mileage in their private vehicle. These rates are also used by self-employed drivers to claim tax relief on business mileage (when using 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 up to 25p/mile thereafter. An additional 5p/mile can be claimed for each passenger transported.
The AMAP rates are not mandatory, and employers can choose to pay more or less than the AMAP rate. It is therefore ultimately up to employers to determine the rate at which they reimburse their employees.
The Government keeps the Approved Mileage Allowance Payments (AMAPs) rate under review and HMRC use a variety of information in estimating typical motoring costs per business mile. This includes information from the AA, the National Travel Survey, the Association of British Insurers, and the Department for Energy Security and Net Zero.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how long has the HMRC helpline number 0300 200 3822 been out of service.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Debt management Self Assessment (SA) payment helpline, 0300 200 3822, was retired at the end of July 2025.
From March to July 2025, an announcement was played to all customers phoning the Debt management SA payment helpline advising them that the number had closed and providing the relevant HMRC helpline number to call.
Customers with SA debt or payment enquiries are still able to speak to an adviser by calling the phone number stated on the letter which they have received from HMRC.
Customers can also find further support and guidance on GOV.UK – including how to manage payments.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an estimate of the (a) value of and (b) tax lost from the black economy in (i) England, (ii) Greater Manchester and (iii) Oldham.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HMRC estimates the size of the tax gap, which is the difference between the amount of tax that should, in theory, be paid to HMRC, and what is actually paid. The tax gap statistics are published annually and are available at: Measuring tax gaps - GOV.UK (www.gov.uk).
Within the tax gap, HMRC publishes an illustrative breakdown by behaviour. For the 2023 to 2024 tax year, the estimated value of the hidden economy was £2.6 billion.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment her Department has made of the effectiveness of the Office for Budget Responsibility.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Office for Budget Responsibility (OBR) is the UK’s independent forecaster and the Government is fully committed to the OBR’s independence and its vital role as a core part of our fiscal framework. That is why one of the first Acts of this Parliament introduced the fiscal lock so that the OBR could never be sidelined.
On 26 November 2025, the OBR’s Economic and Fiscal Outlook was accessed prematurely ahead of the Budget. The OBR’s investigation into this incident was published on 1 December. HM Treasury will work closely with the OBR to ensure robust security arrangements are in place for all future forecasts.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment has been made of recent trends in levels of illegal agriculture red diesel use.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Rebated fuels must be supplied by Registered Dealers in Controlled Oil who are approved by HMRC to ensure that fuel is only obtained by those entitled to use it.
Rebated fuels can only be used in eligible vehicles and machines when they are being used for a qualifying purpose, which includes agricultural activities.