Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many uncovered auctions there have been for Government gilts since 4 July 2024.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
From 4 July 2024 to the date of this response, there have been no uncovered auctions for gilts. The results of all gilt auctions are published on the UK Debt Management Office website.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what guidance HMRC has issued on claiming private residence capital gains tax exemption.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HMRC has published information on capital gains tax private residence relief in their self-assessment helpsheets HS283 “Private Residence Relief” and HS281 “Capital Gains Tax, civil partners and spouses”; and their capital gains manual at page CG64200 onwards. These are available on the GOV.UK website.
Relief is available in most cases without a claim needing to be made.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 July 2025 to Question 64049 on Alcoholic Drinks, what those international conventions are.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
I refer the honourable member to the answer given on 23 July to PQ UIN 68763.
Thirteen of the twenty largest sovereign green bond issuers to date, including the UK, explicitly exclude the financing of alcohol-related spending in their green bond frameworks. Another issues Sharia-compliant green bonds. Five of the remaining six make no mention of alcohol in their frameworks, and France places partial restrictions on alcohol production. The UK’s approach is thus in line with international norms.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what meetings the Chief Secretary to the Treasury has had with business organisations arranged through the (a) Labour Infrastructure Forum and (b) Bradshaw Advisory since July 2024.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Departments publish a quarterly register detailing Ministers’ meetings with external individuals and organisations. These returns will be made available on GOV.UK in line with the usual publication schedule.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the press release entitled Senior business leaders bolster Treasury board of 13 August 2025, whether the three new Board members had declarable political activity.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Appointments to the HMT Board are regulated by the Office of the Commissioner for Public Appointments. Sir Charlie Mayfield, Edward Twiddy and Jenny Scott have not engaged in any political activity in the last five years.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 July 2025 to Question 64049 on Alcoholic Drinks, what assessment her Department has made of the potential impact of the (a) production of organic wines and sparkling wines in British vineyards and (b) use of renewable technologies on achieving environmental objectives, in the context of green bond objectives.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The Green Financing Programme’s objective is to raise funds via green gilts and retail Green Savings Bonds for policies with a positive climate or environmental impact. All eligible policies financed by the Programme are drawn from policies agreed by HM Treasury and departments in the Spending Review.
In the context of the Green Financing Programme, HM Treasury does not conduct impact assessments of existing or potential policies. Spending departments are responsible for the decision to conduct ex-ante or ex-post impact assessments of their policies.
HM Treasury does publish a biennial Impact Report of policies funded via the Green Financing Programme, using data from other departments. The most recent such report was published in September 2023 and can be found via the following website link: https://assets.publishing.service.gov.uk/media/651446cdb1bad4000d4fd916/HMT-UK_Green_Financing_Allocation_Impact_Report_2023_Accessible.pdf
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 23 July 2025 to Question 68763 on Alcoholic Drinks, for what reason domestic alcohol production is excluded from green bonds.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
All eligible policies financed by the Green Financing Programme are drawn from policies agreed by HM Treasury and departments in the Spending Review. These policies are assessed based on their contribution to the government’s climate and environmental objectives.
The Framework excludes financing of the direct manufacture of alcoholic beverages, alongside other named exclusions, in line with international convention and investor expectations for green bond frameworks. This approach enables the UK’s green gilts to be accessible to the greatest possible pool of investors, improving value-for-money.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the new surcharge on hereditaments with Rateable Values above £500,000 from 2026-27 will be revenue-neutral in relation to the cost of the new Retail, Hospitality and Leisure rate multiplier from the 2026-27 financial year onwards; and whether the business rates regime will have a (a) positive or (b) negative cost to the public purse in the 2025-26 financial year.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
To deliver our manifesto pledge, we intend to introduce permanently lower tax rates for high street retail, hospitality, and leisure (RHL) properties with Rateable Values (RVs) below £500,000 from 2026-27.
This tax cut must be sustainably funded, and so we intend to apply a higher rate from 2026-27 on the most valuable properties - those with RVs of £500,000 and above. These represent less than one per cent of all properties, but cover the majority of large distribution warehouses, including those used by online giants.
The rates for these new business rates multipliers will be set at Budget 2025 so that the Government can take into account the upcoming revaluation outcomes as well as the economic and fiscal context. When the new multipliers are set, HM Treasury intends to publish analysis of the expected effects of the new multiplier arrangements.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the new surcharge on hereditaments with Rateable Values above £500,000 from 2026-27 will be revenue neutral in relation to the cost of the new Retail, Hospitality and Leisure rate multiplier from 2026-27.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
To deliver our manifesto pledge, we intend to introduce permanently lower tax rates for high street retail, hospitality, and leisure (RHL) properties with Rateable Values (RVs) below £500,000 from 2026-27.
This tax cut must be sustainably funded, and so we intend to apply a higher rate from 2026-27 on the most valuable properties - those with RVs of £500,000 and above. These represent less than one per cent of all properties, but cover the majority of large distribution warehouses, including those used by online giants.
The rates for these new business rates multipliers will be set at Budget 2025 so that the Government can take into account the upcoming revaluation outcomes as well as the economic and fiscal context. When the new multipliers are set, HM Treasury intends to publish analysis of the expected effects of the new multiplier arrangements.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 8 July 2025 to Question 64077 on Film: Business Rates, if she will make it her policy to increase the level of film studio business rate relief to compensate for new business rates surcharge from 2026-27.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
At Autumn Budget 2024, the Government announced an intention to introduce a higher business rates multiplier on the most valuable properties – those with Rateable Values (RVs) of £500,000 and above – from April 2026 to fund permanently lower multipliers for retail, hospitality and leisure properties with RVs below £500,000.
Eligible film studios receive 40 per cent relief on gross business rates bills until March 2034. Business rates bills are calculated by applying the relevant multiplier first and so film studios will receive 40 per cent relief on their total liability. As set out in supporting guidance, the Government may review the level of relief in the event of significant changes in RVs at future revaluations.