Asked by: Gareth Davies (Conservative - Grantham and Bourne)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what objectives her Department have set the Transatlantic Taskforce for Markets of the Future; and what assessment she has made of the Taskforce’s progress to date.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Transatlantic Taskforce for Markets of the Future was established by HM Treasury and the US Treasury on 22 September.
Its purpose is to bring the world’s leading financial centres together to develop concrete policy options and recommendations on further financial market innovation, with a particular focus on digital assets and capital markets. Innovation in these industries will be central to the government’s mission for economic growth.
The Chancellor has discussed progress on the Taskforce with US Treasury Secretary Bessent and HMT officials continue to work closely with US counterparts. Both parties are keen to ensure the Taskforce is a success.
Further details can be found here: Boosting collaboration between UK and US financial systems to drive innovation and growth in global markets - GOV.UK
Asked by: Gareth Davies (Conservative - Grantham and Bourne)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she discussed the Transatlantic Taskforce for Markets of the Future during her meeting with the US Secretary of the Treasury on 12 January 2026.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Transatlantic Taskforce for Markets of the Future was established by HM Treasury and the US Treasury on 22 September.
Its purpose is to bring the world’s leading financial centres together to develop concrete policy options and recommendations on further financial market innovation, with a particular focus on digital assets and capital markets. Innovation in these industries will be central to the government’s mission for economic growth.
The Chancellor has discussed progress on the Taskforce with US Treasury Secretary Bessent and HMT officials continue to work closely with US counterparts. Both parties are keen to ensure the Taskforce is a success.
Further details can be found here: Boosting collaboration between UK and US financial systems to drive innovation and growth in global markets - GOV.UK
Asked by: Gareth Davies (Conservative - Grantham and Bourne)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when the Transatlantic Taskforce for Markets of the Future plans to report back to HMT; and when their report will be shared with Parliament.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Transatlantic Taskforce for Markets of the Future was established by HM Treasury and the US Treasury on 22 September.
Its purpose is to bring the world’s leading financial centres together to develop concrete policy options and recommendations on further financial market innovation, with a particular focus on digital assets and capital markets. Innovation in these industries will be central to the government’s mission for economic growth.
The Chancellor has discussed progress on the Taskforce with US Treasury Secretary Bessent and HMT officials continue to work closely with US counterparts. Both parties are keen to ensure the Taskforce is a success.
Further details can be found here: Boosting collaboration between UK and US financial systems to drive innovation and growth in global markets - GOV.UK
Asked by: Gareth Davies (Conservative - Grantham and Bourne)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, on what date the National Wealth Fund Board was informed of the Government’s intention to allocate £200 million to Grangemouth community; and whether the Board formally approved any such commitment in accordance with its statutory governance and investment processes.
Answered by James Murray - Chief Secretary to the Treasury
The Government made a major intervention to ensure the long-term future of the Grangemouth site. As part of that, £200 million has been made available from the National Wealth Fund’s existing capitalisation for investible projects at Grangemouth.
The National Wealth Fund will be responsible for approval of specific investments, in line with its regular governance and investment processes, including Board approval where appropriate.
Asked by: Gareth Davies (Conservative - Grantham and Bourne)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how the £14.5 million for Grangemouth announced at the Budget relates to the previous commitment from the Prime Minister that £200 million from the National Wealth Fund would support the transition of the Grangemouth site; and whether the £14.5 million announced at the Budget is additional to the previous £200 million commitment.
Answered by James Murray - Chief Secretary to the Treasury
The £14.5 million of investment to support industrial projects in Grangemouth announced at Autumn Budget 2025 is in addition to the National Wealth Fund commitment.