Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what is the policy of his department on the introduction of a Government-backed stablecoin.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Stablecoins are predominantly a form of private money. The Government has legislated to create a new regulated activity for issuing certain stablecoins in the UK in line with its goals for delivering world-leading innovation in payments and digital assets.
Separately, HM Treasury and the Bank of England have been undertaking work to assess the case for a potential UK retail central bank digital currency, commonly referred to as a "digital pound". We intend to announce a decision on the digital pound by the end of 2026.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate has the HMRC Valuation Office made of the number of houses valued between £1.5 million and £2.million which have (a) 1, (b) 2 or (c) 3 bedrooms.
Answered by James Murray - Financial Secretary to the Treasury and Paymaster General
The HMRC Valuation Office does not hold the information requested.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the answer of 26 March 2026 to Question 121729 on Council tax: Valuation, which datasets from within the Census geographies the HMRC Valuation Office uses for council tax modelling; and whether any other Census data is utilised.
Answered by James Murray - Financial Secretary to the Treasury and Paymaster General
The Valuation Office’s Council Tax modelling uses Census geography data comprising Output Areas (OAs), Lower Layer Super Output Areas (LSOAs) and Middle Layer Super Output Areas (MSOAs). No other Census data is used within the Council Tax modelling.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether the proposed new 22% tax on cash held in a Stocks and Shares ISA will apply if an individual has not used up their £12,000 Cash ISA allowance; and whether the 22% tax will apply to money market funds held in a Stocks and Shares ISA.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
From April 2027, a flat-rate charge of 22% will apply to any interest or alternative finance return paid on cash held within a Stocks and Shares ISA. This charge applies regardless of whether an individual has used their full Cash ISA allowance. The charge will be accounted for by ISA managers and savers will not be required to report ISA interest to HMRC.
Money Market Funds may continue to be held in a Stocks and Shares ISA and are not subject to the 22% charge, although anti-circumvention rules will require that such funds do not constitute the sole investment held in the account.
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 19 June 2026 to Question 9053 on Treasury: Written Questions, what oral and written representations the Bank of England has received from representatives of the Reform UK party on cryptocurrency deregulation and taxation; and on what dates the Bank of England met Reform UK on this matter.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The information requested is not held by HM Treasury. The matter falls within the operational responsibilities of the Bank of England. I have asked the Governor of the Bank of England to write to the Honourable Member directly.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has been allocated a Ministerial residence.
Answered by Dan Tomlinson - Exchequer Secretary (Cabinet Office) (Jointly with HM Treasury)
The Chancellor has been allocated the No.10 flat and Dorneywood.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he plans to make changes to the level of the council tax surcharge.
Answered by James Murray - Financial Secretary to the Treasury and Paymaster General
The Government has set out plans to introduce the High Value Council Tax Surcharge, which will increase fairness within the system. The thresholds for the surcharge are set out here https://www.gov.uk/government/publications/high-value-council-tax-surcharge/high-value-council-tax-surcharge
The Government keeps all taxes under review. It would not be appropriate to speculate on any potential changes to tax policy.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of reducing VAT on heating oil and liquefied petroleum gas for households not connected to the gas grid, in the context of the Government’s planned reduction in VAT on domestic electricity.
Answered by James Murray - Financial Secretary to the Treasury and Paymaster General
The Government has announced a cut in VAT on electricity bills to give millions of households breathing space on the cost of living. Around 29 million households in the UK are expected to benefit from this change.
The Government has also announced over £50 million for low-income families who heat their homes with oil to help tackle surging prices.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, further to the HMRC policy paper, Taxation of stablecoins, of 13 July 2026, whether Tether will be an eligible stablecoin.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The proposed definition of an ‘eligible stablecoin’ is broad so as to include a range of different models. After the proposed stablecoin legislation is enacted, HMRC will look to assist taxpayers by setting out in guidance its view of whether the largest stablecoins currently in use are 'eligible stablecoins'.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will extend the deadline for payment of inheritance tax from six to 12 months.
Answered by James Murray - Financial Secretary to the Treasury and Paymaster General
The Government does not intend to change the existing, longstanding deadline of inheritance tax being due at the end of the sixth month after the date of death.
The Government recognises the general difficulties that some personal representatives may face in paying the inheritance tax due and HMRC already offers several payment options to help.