Question to the Department for Science, Innovation & Technology:

To ask the Secretary of State for Science, Innovation and Technology, what steps she is taking to support the development of Quantum Computing, including research at Universities.

Answered by Kanishka Narayan - Parliamentary Under Secretary of State (Department for Science, Innovation and Technology)

The Government’s Digital and Technologies Sector Plan outlined £670 million of investment to accelerate the development and adoption of quantum computing through our quantum computing mission. It also backed our flagship National Quantum Computing Centre with a 10-year budget, providing them with long term certainty to expand activity and demonstrating Government’s commitment to the sector.

In 2024 we launched five quantum technology hubs, including a dedicated hub for quantum computing based at the University of Oxford. This brings together researchers from universities across Great Britain with industry partners, collaborating to progress quantum computing research and develop a skilled workforce.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she plans to take to help ensure the UK is an attractive destination for cryptoasset capital.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

The government recognises the transformative potential of digital assets and blockchain technologies to drive economic growth in the UK and increase efficiencies across financial markets.

That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets.

This will support growth in the UK by giving cryptoasset firms the regulatory certainty needed to invest here, and to help drive innovation in our financial services sector.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of introducing clearer regulatory and tax frameworks for cryptoasset investment on a) high-skilled job creation and b) assets under management.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

The government recognises the transformative potential for digital assets and blockchain technologies to drive economic growth in the UK and increase efficiencies across financial markets.

That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets. This will support growth in the UK by giving cryptoasset firms the regulatory certainty needed to invest here, and to help drive innovation in our financial services sector.

The government also keeps the tax framework for cryptoassets under review.

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of simplifying tax-compliant investment structures for cryptoassets in innovative finance ISAs to include all cryptoassets; and if she will make an assessment of the potential impact of doing so on levels of involuntary non-compliance among retail investors.

Answered by Lucy Rigby - Economic Secretary (HM Treasury)

The government recognises the transformative potential for digital assets and blockchain technologies to drive economic growth in the UK and increase efficiencies across financial markets. That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets. This will support growth in the UK by giving cryptoasset firms the regulatory certainty needed to invest here, and to help drive innovation in our financial services sector.

A draft consultation on legislation that enables the inclusion of cETNs in the IFISA is out now and will come int force in April 2026. While there are currently no plans to include all cryptoassets in IFISAs, any future consideration would take account of market maturity, stability, and the suitability of providing targeted tax reliefs alongside the new regulatory regime.

Found: Tristan Osborne: I might come back to that in my questions.

Found: Clive Betts (Chair); Rachel Gilmour; Chris Kane; Rupert Lowe; Catherine McKinnell; Sarah Olney; Tristan Osborne

Found: Catherine McKinnell (Labour; Newcastle upon Tyne North) Sarah Olney (Liberal Democrat; Richmond Park) Tristan Osborne

Found: Catherine McKinnell (Labour; Newcastle upon Tyne North) Sarah Olney (Liberal Democrat; Richmond Park) Tristan Osborne

Found: Q42 Tristan Osborne: That is perfectly fine. Thank you for clarifying that.

Found: Clive Betts; Anna Dixon; Rachel Gilmour; Sarah Green; Lloyd Hatton; Rupert Lowe; Sarah Olney; Tristan Osborne

Found: Q56 Tristan Osborne: Thank you, Geoffrey.

Found: Q56 Tristan Osborne: Thank you, Geoffrey.

Found: Sir Geoffrey Clifton-Brown (Chair); Mr Clive Betts; Sarah Green; Lloyd Hatton; Rupert Lowe; Tristan Osborne