Asked by: Lord Kinnock (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what consideration they have given to paying interest on a proportion of reserve deposits made with the Bank of England by commercial banks and providing for any reduction in reserves to be paid out of the interest on that proportion, rather than the current arrangements in which interest is paid on the whole deposit and provided to the Bank by HM Treasury from public funds.
Answered by Lord Pitt-Watson - Parliamentary Secretary (HM Treasury)
Bank Rate is the reference rate that commercial banks both receive on their reserve holdings and must pay to borrow additional reserves from the Bank of England. Remuneration of reserves at Bank Rate plays a role in the implementation of monetary policy and ensures commercial banks pass on changes in interest rates to household and businesses.
Data on payments to and from HM Treasury to the Asset Purchase Facility (APF) is made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication. The data is available in worksheet PSA9B.
Time period | Interest receivable (£ million) | Interest payable (£ million) | Net interest receivable (£ million) | Cash transfers to HM Treasury total (£ million) | Cash transfers from HM Treasury total (£ million) |
Dataset identifier code | MDD6 | MDD7 | MDD8 | MT6A | MF7A |
2021-22 | 17,990 | 1,859 | 16,131 | 7,218 | 0 |
2022-23 | 17,003 | 20,567 | -3,564 | 4,164 | 5,010 |
2023-24 | 15,403 | 39,748 | -24,345 | 0 | 44,549 |
2024-25 | 13,753 | 34,045 | -20,291 | 0 | 36,323 |
2025-26 | 11,802 | 23,596 | -11,793 | 0 | 16,660 |
These data refer to reserves backed only by bonds held in the Asset Purchase Facility (APF). A range of financial institutions hold reserve deposit accounts at the Bank of England and data on reserves held by commercial banks specifically is not publicly available. But the Bank of England does publish the aggregate level of outstanding reserves and the Bank Rate. As of 23 September 2026, total outstanding central bank sterling reserves were £642,336m.
The Monetary Policy Committee at the Bank of England are responsible for the conduct of monetary policy, and the separation of fiscal and monetary policy is essential to its effective delivery.
The UK’s approach of indemnifying the APF is in line with best practice as set out in a 2023 IMF working paper, relating to several areas of governance, accountability, and transparency. Other central banks do share both past Quantitative Easing-related profits and future losses with their national treasuries but do so, and account for doing so, in a variety of ways and over different time periods.
Asked by: Lord Kinnock (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what is the current total level of reserve deposits from commercial banks held by the Bank of England; and whether the interest paid by the Bank to commercial banks on those deposits is fixed at the Bank Rate by convention or another reason.
Answered by Lord Pitt-Watson - Parliamentary Secretary (HM Treasury)
Bank Rate is the reference rate that commercial banks both receive on their reserve holdings and must pay to borrow additional reserves from the Bank of England. Remuneration of reserves at Bank Rate plays a role in the implementation of monetary policy and ensures commercial banks pass on changes in interest rates to household and businesses.
Data on payments to and from HM Treasury to the Asset Purchase Facility (APF) is made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication. The data is available in worksheet PSA9B.
Time period | Interest receivable (£ million) | Interest payable (£ million) | Net interest receivable (£ million) | Cash transfers to HM Treasury total (£ million) | Cash transfers from HM Treasury total (£ million) |
Dataset identifier code | MDD6 | MDD7 | MDD8 | MT6A | MF7A |
2021-22 | 17,990 | 1,859 | 16,131 | 7,218 | 0 |
2022-23 | 17,003 | 20,567 | -3,564 | 4,164 | 5,010 |
2023-24 | 15,403 | 39,748 | -24,345 | 0 | 44,549 |
2024-25 | 13,753 | 34,045 | -20,291 | 0 | 36,323 |
2025-26 | 11,802 | 23,596 | -11,793 | 0 | 16,660 |
These data refer to reserves backed only by bonds held in the Asset Purchase Facility (APF). A range of financial institutions hold reserve deposit accounts at the Bank of England and data on reserves held by commercial banks specifically is not publicly available. But the Bank of England does publish the aggregate level of outstanding reserves and the Bank Rate. As of 23 September 2026, total outstanding central bank sterling reserves were £642,336m.
The Monetary Policy Committee at the Bank of England are responsible for the conduct of monetary policy, and the separation of fiscal and monetary policy is essential to its effective delivery.
The UK’s approach of indemnifying the APF is in line with best practice as set out in a 2023 IMF working paper, relating to several areas of governance, accountability, and transparency. Other central banks do share both past Quantitative Easing-related profits and future losses with their national treasuries but do so, and account for doing so, in a variety of ways and over different time periods.
Asked by: Lord Kinnock (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what has been the cost in each year since 2021–22 of payments to the Bank of England by HM Treasury, to enable the Bank to pay interest to commercial banks on their reserve deposits with the Bank.
Answered by Lord Pitt-Watson - Parliamentary Secretary (HM Treasury)
Bank Rate is the reference rate that commercial banks both receive on their reserve holdings and must pay to borrow additional reserves from the Bank of England. Remuneration of reserves at Bank Rate plays a role in the implementation of monetary policy and ensures commercial banks pass on changes in interest rates to household and businesses.
Data on payments to and from HM Treasury to the Asset Purchase Facility (APF) is made publicly available by the Office for National Statistics (ONS) in its monthly Public Sector Finances publication. The data is available in worksheet PSA9B.
Time period | Interest receivable (£ million) | Interest payable (£ million) | Net interest receivable (£ million) | Cash transfers to HM Treasury total (£ million) | Cash transfers from HM Treasury total (£ million) |
Dataset identifier code | MDD6 | MDD7 | MDD8 | MT6A | MF7A |
2021-22 | 17,990 | 1,859 | 16,131 | 7,218 | 0 |
2022-23 | 17,003 | 20,567 | -3,564 | 4,164 | 5,010 |
2023-24 | 15,403 | 39,748 | -24,345 | 0 | 44,549 |
2024-25 | 13,753 | 34,045 | -20,291 | 0 | 36,323 |
2025-26 | 11,802 | 23,596 | -11,793 | 0 | 16,660 |
These data refer to reserves backed only by bonds held in the Asset Purchase Facility (APF). A range of financial institutions hold reserve deposit accounts at the Bank of England and data on reserves held by commercial banks specifically is not publicly available. But the Bank of England does publish the aggregate level of outstanding reserves and the Bank Rate. As of 23 September 2026, total outstanding central bank sterling reserves were £642,336m.
The Monetary Policy Committee at the Bank of England are responsible for the conduct of monetary policy, and the separation of fiscal and monetary policy is essential to its effective delivery.
The UK’s approach of indemnifying the APF is in line with best practice as set out in a 2023 IMF working paper, relating to several areas of governance, accountability, and transparency. Other central banks do share both past Quantitative Easing-related profits and future losses with their national treasuries but do so, and account for doing so, in a variety of ways and over different time periods.
Asked by: Baroness Cash (Conservative - Life peer)
Question to the Department for Education:
To ask His Majesty's Government what assessment they have made of the effect on trainee quality of the removal of the statutory requirement for 20 hours of mentor training for initial teacher training mentors.
Answered by Baroness Smith of Malvern - Minister of State (Department for Work and Pensions)
Effective mentoring is critical to high-quality initial teacher training (ITT) and the trainee experience. Trainees remain entitled to 1.5 hours of dedicated weekly mentor support during placements.
Following feedback from schools and ITT providers, the department removed the minimum 20-hour initial mentor training requirements in November 2024, giving schools and providers greater flexibility where mentors have relevant prior learning, avoiding unnecessary repetition of training.
The change did not remove providers’ duty to ensure mentors receive sufficient high-quality training on the mentor role, the Initial Teacher Training and Early Career Framework and the trainee curriculum. These requirements are set out in the ITT criteria.
Ofsted inspects accredited ITT providers and independently evaluates training quality. To achieve the expected standard, trainees must benefit from high-quality mentoring that meets all entitlements and mandatory requirements. The department continues to monitor inspection outcomes to assess the effectiveness of the ITT quality requirements, including mentoring.
Asked by: Baroness Cash (Conservative - Life peer)
Question to the Department for Education:
To ask His Majesty's Government whether the intensive training and practice requirement of the initial teacher training criteria will be retained without reduction for courses beginning in September 2027.
Answered by Baroness Smith of Malvern - Minister of State (Department for Work and Pensions)
Intensive training and practice (ITAP) is designed to strengthen trainees’ knowledge, understanding and classroom practice by supporting them to engage with evidence-based approaches, apply learning in practice and receive focused expert feedback.
ITAP was introduced as a requirement for all initial teacher training (ITT) courses leading to qualified teacher status from September 2024 and continues to be an important part of ITT. The department has provided funding to support the implementation of ITAP. This academic year, ITAP funding is conditional on providers ensuring that trainees are well-equipped to teach pupils with special needs and disabilities. This is a condition of grant funding only and the ITT criteria requirements on ITAP remain unchanged.
The department continues to monitor the effectiveness of all the ITT quality requirements but has no current plans to amend ITAP requirements for courses beginning in September 2027.
Asked by: Baroness Cash (Conservative - Life peer)
Question to the Department for Education:
To ask His Majesty's Government whether Ofsted’s initial teacher education inspection framework takes account of the effectiveness of a provider’s academic appointment processes and research integrity arrangements; and if not, whether they will ask Ofsted to consider doing so.
Answered by Baroness Smith of Malvern - Minister of State (Department for Work and Pensions)
Ofsted’s initial teacher education inspection framework provides an independent evaluation of the effectiveness of initial teacher education providers. Inspections consider the quality of education and training, leadership, governance and compliance with the department’s initial teacher training criteria.
The framework does not specifically assess a provider’s processes for appointing academic staff or its research integrity arrangements and there are no plans to change this. Universities are autonomous institutions and are responsible for their own staffing and research governance arrangements, subject to the relevant legal and regulatory requirements.
Asked by: Oliver Dowden (Conservative - Hertsmere)
Question
To ask the Secretary of State for Digital, Culture, Media and Sport, what the average time for her Department to reply to correspondence from hon. Members was in each month since July 2024.
Answered by Ian Murray - Minister of State (Department for Digital, Culture, Media and Sport)
As of 24th September:
2024 | 2025 | 2026 | |||
Month | Average Time (days) | Month | Average Time (days) | Month | Average Time (days) |
July | 162 | January | 155 | January | 40 |
August | 86 | February | 135 | February | 28 |
September | 77 | March | 82 | March | 26 |
October | 53 | April | 82 | April | 50 |
November | 71 | May | 80 | May | 39 |
December | 117 | June | 76 | June | 41 |
|
| July | 70 | July | 39 |
|
| August | 59 | August | 32 |
|
| September | 56 | September | N/A |
|
| October | 43 |
|
|
|
| November | 58 |
|
|
|
| December | 47 |
|
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Asked by: Lord Taylor of Warwick (Non-affiliated - Life peer)
Question to the Department for Education:
To ask His Majesty's Government what steps they are taking to ensure that the use of artificial intelligence in education does not undermine the reliability of assessments of students’ individual work.
Answered by Baroness Smith of Malvern - Minister of State (Department for Work and Pensions)
The government is clear that AI should support teaching and learning while ensuring that assessments continue to reflect students’ own knowledge, skills and understanding.
The department has published support materials to help schools and colleges use AI safely and effectively, including guidance for leaders and educators on the risks and opportunities associated with AI.
The vast majority of GCSE and A level assessments are taken under close supervision, without access to the internet or AI tools.
Ofqual, as the independent regulator, has published its approach to regulating the use of AI in qualifications and assessments, focused on maintaining fairness, validity, security and public confidence, and this is available on the Ofqual website.
The Joint Council for Qualifications (JCQ) guidance is also clear that work submitted for assessment must be a student's own, and that misuse of AI may constitute malpractice. This guidance is available on the JCQ website.
Education should prepare young people to thrive in a world shaped by AI, but the value of their achievements must remain beyond doubt.
Asked by: Lord Walker of Broxton (Labour - Life peer)
Question to the Department for Education:
To ask His Majesty's Government what assessment they have made of the number of children who do not receive free school meals they are entitled to; and what steps they are taking to ensure that all eligible children receive free school meals.
Answered by Baroness Smith of Malvern - Minister of State (Department for Work and Pensions)
The government is committed to breaking down barriers to opportunity and tackling child poverty. From September 2026, eligibility for free school meals (FSMs) was extended to all children in households receiving Universal Credit, providing over half a million additional children with access to a free, nutritious lunchtime meal. The department recognises the vital role played by FSMs and encourages all eligible families to claim the support to which they are entitled.
The department has upgraded the Eligibility Checking System, making it easier to identify children who are eligible for FSMs. We have also worked closely across government, including with the Department for Work and Pensions, as well as with schools and local authorities, to support implementation and awareness of the expanded entitlement.
The department does not routinely assess the number of children who are entitled to FSMs but do not receive them.
The department will continue to monitor take-up of FSMs following implementation of the expansion, including through the school census.
Asked by: Earl of Effingham (Conservative - Life peer)
Question to the Department for Education:
To ask His Majesty's Government what estimate they have made of the total public funding, including loan-financed tuition fees, quality-related research funding, and Department for Education grants, received in each of the last three years by (1) the University of Cambridge Faculty of Education, and (2) each other university-based accredited initial teacher training provider in England.
Answered by Baroness Smith of Malvern - Minister of State (Department for Work and Pensions)
The department does not routinely collect or publish data in a form that would enable the total public funding received by each university based accredited Initial Teacher Training (ITT) provider in England to be identified on a comparable basis for each of the last three years.
The department is unable to estimate the amount received by the University of Cambridge, or any other university based accredited ITT providers, through loan financed tuition fees or research funding. Tuition fee loans are administered through the student finance system and published data is not available at a teacher training provider level. Research funding is allocated and published separately by Research England. Department for Education grant funding is provided through a range of separate programmes, including grants to support the delivery of ITT. Details of the department‘s grant schemes are recorded on the Government Grants Information System in accordance with government grant transparency requirements.