HM Treasury

HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.



Secretary of State

 Portrait

Rachel Reeves
Chancellor of the Exchequer

Shadow Ministers / Spokeperson
Liberal Democrat
Baroness Kramer (LD - Life peer)
Liberal Democrat Lords Spokesperson (Treasury and Economy)
Daisy Cooper (LD - St Albans)
Liberal Democrat Spokesperson (Treasury)

Conservative
Mel Stride (Con - Central Devon)
Shadow Chancellor of the Exchequer

Green Party
Adrian Ramsay (Green - Waveney Valley)
Green Spokesperson (Treasury)

Liberal Democrat
Charlie Maynard (LD - Witney)
Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)
Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)
Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
There are no upcoming events identified
Debates
Thursday 23rd April 2026
Gambling Advertising
Westminster Hall
Select Committee Inquiry
Tuesday 31st January 2023
Quantitative tightening

This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …

Written Answers
Monday 27th April 2026
Economic Growth
To ask His Majesty's Government what assessment they have made of the UK’s economic performance compared to the EU and …
Secondary Legislation
Monday 20th April 2026
Climate Change Agreements (Administration, Energy-intensive Installations and Eligible Facilities) (Amendment and Revocation) Regulations 2026
These Regulations revoke and remake the Climate Change Agreements (Energy-Intensive Installations) Regulations 2006 (S.I. 2006/59) (“the EII Regulations”), and amend …
Bills
Wednesday 4th March 2026
Supply and Appropriation (Anticipation and Adjustments) Act 2026
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and …
Dept. Publications
Monday 27th April 2026
12:38

HM Treasury Commons Appearances

Oral Answers to Questions is a regularly scheduled appearance where the Secretary of State and junior minister will answer at the Dispatch Box questions from backbench MPs

Other Commons Chamber appearances can be:
  • Urgent Questions where the Speaker has selected a question to which a Minister must reply that day
  • Adjornment Debates a 30 minute debate attended by a Minister that concludes the day in Parliament.
  • Oral Statements informing the Commons of a significant development, where backbench MP's can then question the Minister making the statement.

Westminster Hall debates are performed in response to backbench MPs or e-petitions asking for a Minister to address a detailed issue

Written Statements are made when a current event is not sufficiently significant to require an Oral Statement, but the House is required to be informed.

Most Recent Commons Appearances by Category
Mar. 10
Oral Questions
Apr. 22
Written Statements
Apr. 23
Westminster Hall
Apr. 21
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

HM Treasury does not have Bills currently before Parliament


Acts of Parliament created in the 2024 Parliament

Introduced: 2nd December 2025

A Bill to make provision in connection with finance.

This Bill received Royal Assent on 18th March 2026 and was enacted into law.

Introduced: 4th March 2026

A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and 31 March 2027; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2025 and 31 March 2026.

This Bill received Royal Assent on 18th March 2026 and was enacted into law.

Introduced: 25th June 2025

A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2025.

This Bill received Royal Assent on 21st July 2025 and was enacted into law.

Introduced: 13th November 2024

A Bill to make provision about secondary Class 1 contributions.

This Bill received Royal Assent on 3rd April 2025 and was enacted into law.

Introduced: 6th November 2024

A Bill to make provision about finance.

This Bill received Royal Assent on 20th March 2025 and was enacted into law.

Introduced: 25th July 2024

A Bill to amend the Crown Estate Act 1961.

This Bill received Royal Assent on 11th March 2025 and was enacted into law.

Introduced: 5th March 2025

A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.

This Bill received Royal Assent on 11th March 2025 and was enacted into law.

Introduced: 6th November 2024

A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.

This Bill received Royal Assent on 16th January 2025 and was enacted into law.

Introduced: 18th July 2024

A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.

This Bill received Royal Assent on 10th September 2024 and was enacted into law.

Introduced: 24th July 2024

A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.

This Bill received Royal Assent on 30th July 2024 and was enacted into law.

HM Treasury - Secondary Legislation

These Regulations revoke and remake the Climate Change Agreements (Energy-Intensive Installations) Regulations 2006 (S.I. 2006/59) (“the EII Regulations”), and amend the Climate Change Agreements (Eligible Facilities) Regulations 2012 (S.I. 2012/2999) (“the EF Regulations”) and the Climate Change Agreements (Administration) Regulations 2012 (“the Admin Regulations”) (S.I. 2012/1976).
These Regulations amend the Customs (Northern Ireland) (EU Exit) Regulations 2020 (S.I. 2020/1605) (“the 2020 Regulations”), in particular, Chapter 5 (reliefs and repayment) and Chapter 6 (repayment or remission of duty on production of evidence) of Part 2 (importation of goods and goods potentially for export) of the 2020 Regulations.
View All HM Treasury Secondary Legislation

Petitions

e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.

If an e-petition reaches 10,000 signatures the Government will issue a written response.

If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).

Trending Petitions
Petition Open
15,351 Signatures
(8,268 in the last 7 days)
Petition Open
366 Signatures
(114 in the last 7 days)
Petition Open
1,681 Signatures
(71 in the last 7 days)
Petition Open
61 Signatures
(47 in the last 7 days)
Petition Open
71 Signatures
(40 in the last 7 days)
Petitions with most signatures
Petition Open
15,351 Signatures
(8,268 in the last 7 days)
Petition Open
10,969 Signatures
(37 in the last 7 days)
Petition Open
4,783 Signatures
(21 in the last 7 days)
Petition Open
4,137 Signatures
(9 in the last 7 days)
Petition Debates Contributed

Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.

154,007
Petition Closed
13 May 2025
closed 11 months, 2 weeks ago

We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.

Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.

View All HM Treasury Petitions

Departmental Select Committee

Treasury Committee

Commons Select Committees are a formally established cross-party group of backbench MPs tasked with holding a Government department to account.

At any time there will be number of ongoing investigations into the work of the Department, or issues which fall within the oversight of the Department. Witnesses can be summoned from within the Government and outside to assist in these inquiries.

Select Committee findings are reported to the Commons, printed, and published on the Parliament website. The government then usually has 60 days to reply to the committee's recommendations.


11 Members of the Treasury Committee
Meg Hillier Portrait
Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)
Treasury Committee Member since 9th September 2024
Yuan Yang Portrait
Yuan Yang (Labour - Earley and Woodley)
Treasury Committee Member since 21st October 2024
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 21st October 2024
John Glen Portrait
John Glen (Conservative - Salisbury)
Treasury Committee Member since 21st October 2024
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 21st October 2024
Bobby Dean Portrait
Bobby Dean (Liberal Democrat - Carshalton and Wallington)
Treasury Committee Member since 28th October 2024
Chris Coghlan Portrait
Chris Coghlan (Liberal Democrat - Dorking and Horley)
Treasury Committee Member since 28th October 2024
John Grady Portrait
John Grady (Labour - Glasgow East)
Treasury Committee Member since 9th December 2024
Catherine West Portrait
Catherine West (Labour - Hornsey and Friern Barnet)
Treasury Committee Member since 27th October 2025
Luke Murphy Portrait
Luke Murphy (Labour - Basingstoke)
Treasury Committee Member since 27th October 2025
Jim Dickson Portrait
Jim Dickson (Labour - Dartford)
Treasury Committee Member since 27th October 2025
Treasury Committee: Previous Inquiries
The Financial Conduct Authority’s Regulation of London Capital & Finance plc Budget 2021 Work of National Savings and Investments Lessons from Greensill Capital Appointment of Carolyn Wilkins to the Financial Policy Committee Appointment of Tanya Castell to the Prudential Regulatory Committee The work of the Prudential Regulation Authority Reappointment of Jill May and Julia Black to the Prudential Regulation Committee Committee on COP26: climate change and finance Spring Budget 2020 Appointment of Sarah Breeden to the Financial Policy Committee Appointment of Catherine Mann to the Monetary Policy Committee Reappointment of Jonathan Haskel to the Monetary Policy Committee Bank of England July Financial Stability Report and August Monetary Policy Report Economic Crime Regional Imbalances in the UK economy The Work of the Debt Management Office Appointment of Richard Hughes as Chair of the Office for Budget Responsibility Reappointment of Professor Silvana Tenreyro to the Monetary Policy Committee Reappointment of Andy Haldane to the Monetary Policy Committee Appointment of Jonathan Hall to the Financial Policy Committee Appointment of Nikhil Rathi as Chief Executive of the Financial Conduct Authority Maxwellisation inquiry The work of National Savings and Investments inquiry Retail Banking Market Review inquiry HMRC Executive Chair and Chief Executive Financial stability one-off hearing Appointment of the CEO of Financial Conduct Authority Bank of England Financial Stability Report Hearings 2016-17 UK's future economic relationship with the EU inquiry Appointment of Deputy Governor for Prudential Regulation EU Insurance Regulation inquiry HM Treasury: Report and Accounts 2015 – 2016 Appointment of Michael Saunders to the Monetary Policy Committee Appointment of Anil Kashyap to the Financial Policy Committee Tax credits, fraud and error inquiry The work of the Chancellor of the Exchequer inquiry Bank of England Inflation Report Hearing August 2016 Prudential Regulation Authority inquiry Sir Charles Bean appointment to Budget Responsibility Committee UK tax policy and the tax base inquiry Government Internal Audit Agency inquiry HM Treasury Annual Report and Accounts 2014-15 inquiry Valuation Office Agency inquiry Independent review of report into failure of HBOS inquiry Review of the Office for National Statistics inquiry Appointment of Angela Knight as Chair of the Office for Tax Simplification Appointment of Tim Parkes as Chair of Regulatory Decisions Committee Budget 2016 inquiry Financial Policy Committee re-appointment hearings Bank of England Inflation Report Hearing May 2016 Work of the Court of the Bank of England inquiry Bank of England Inflation Report Hearing February 2017 Appointment of the Deputy Governor for Markets and Banking Budget 2017 inquiry Restoration and Renewal of the Palace of Westminster inquiry Capital inquiry Work of the Payment Systems Regulator inquiry Effectiveness and impact of post-2008 UK monetary policy Access to basic retail financial services inquiry Financial Conduct Authority inquiry Bank of England Inflation Report Hearing November 2016 UK Financial Investments annual reports and accounts 2015-16 Housing Policy inquiry Autumn Statement 2016 Household finances: income, saving and debt inquiry Bank of England Inflation Reports inquiry Budget Autumn 2017 inquiry Student Loans inquiry The UK's economic relationship with the European Union inquiry The work of the Bank of England inquiry The work of the Financial Conduct Authority The work of the National Infrastructure Commission inquiry Women in finance inquiry Appointment of Professor Silvana Tenreyro to the Monetary Policy Committee Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking, Bank of England The work of the Chancellor of the Exchequer EU Insurance Regulation inquiry HMRC Annual Report and Accounts inquiry Re-appointment of Professor Anil Kashyap to the Financial Policy Committee inquiry Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England inquiry The effectiveness of gender pay gap reporting inquiry Decarbonisation of the UK Economy and Green Finance inquiry Regional Imbalances in the UK Economy inquiry Work of the Financial Services Compensation Scheme inquiry Spending Round 2019 inquiry Access to Cash Review inquiry Appointment of Kathryn Cearns as Chair of the Office of Tax Simplification inquiry The future of the UK’s financial services inquiry The impact of Business Rates on business inquiry Spring Statement 2019 inquiry The work of the Adjudicator’s Office inquiry The work of the Debt Management Office inquiry Independent Review of the Co-Operative Bank inquiry Work of the Court of the Bank of England inquiry Tax enquiries and resolution of tax disputes inquiry IT failures in the financial services sector inquiry Work of the Banking Standards Board inquiry Independent Review of the Financial Ombudsman Service Appointment of Bradley Fried as Chair of Court, Bank of England Appointment of Professor Jonathan Haskel to the Monetary Policy Committee Andy King, Nominated Member of the Budget Responsibility Committee Re-appointment of Dr Gertjan Vlieghe to the Monetary Policy Committee Maxwellisation inquiry Work of the Valuation Office Agency inquiry Appointment of Julia Black as external member of the Prudential Regulation Committee Appointment of Jill May as an external member of the Prudential Regulation Committee Consumers’ Access to Financial Services inquiry The re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at the Bank of England inquiry Budget 2018 inquiry The Work of the Treasury inquiry Service Disruption at TSB inquiry Economic Crime inquiry Re-appointment of Alex Brazier to the Financial Policy Committee Re-appointment of Donald Kohn to the Financial Policy Committee Re-appointment of Martin Taylor to the Financial Policy Committee VAT inquiry Spring Statement 2018 Digital Currencies inquiry Appointment of Charles Randell as Chair of the Financial Conduct Authority SME Finance inquiry Appointment of Elisabeth Stheeman to the Bank of England Financial Policy Committee The work of the Prudential Regulation Authority inquiry Bank of England Financial Stability Reports RBS's Global Restructuring Group and its treatment of SMEs inquiry Childcare inquiry The work of the Payment Systems Regulator inquiry HM Treasury Annual Report and Accounts inquiry Women in the City Crown Estate Cheques, the end of? Mortgage Arrears and Access to Mortgage Finance: Follow up Financial Institutions - Too Important To Fail? Budget 2010 Credit Searches European Macro and Micro Prudential Financial Regulation Presbyterian Mutual Society Pre-Budget Report 2009 Budget 2009 Pre-Budget Report 2008 Budget 2008 Pre-Budget Report 2007 Mortgage Arrears and Access to Mortgage Finance Evaluating the Efficiency Programme Administration and expenditure of the Chancellor’s Departments, 2008-09 Banking Crisis Banking Crisis: International Dimensions Banking Reform Run on the Rock Budget June 2010 Competition and choice in the banking sector Office for Budget Responsibility Financial Regulation Spending Review 2010 Administration and effectiveness of HMRC The principles of tax policy Retail Distribution Review European financial regulation Autumn forecast 2010 Accountability of the Bank of England Private Finance Initiative Budget 2011 Future of Cheques Independent Commission on Banking: Interim Report Closing the tax gap: HMRC's record at ensuring tax compliance Budget Measures and Low-income Households Financial Conduct Authority Inherited Estates Counting the population Administration and expenditure of the Chancellor's Departments, 2006-07 Comprehensive Spending Review 2007 Administration and expenditure of the Chancellor's Departments, 2007-08 Independent Commission on Banking: Final Report Global Imbalances Autumn Statement 2011 Budget 2012 Corporate governance and remuneration Money Advice Service LIBOR FSA's report into HBOS Spending Round 2013 Project Verde Macroprudential tools Disposal of Government Stakes in RBS and Lloyds Credit Rating Agencies Autumn Statement 2012 Appointment of Dr Mark Carney as Governor of the Bank of England Budget 2013 Quantitative easing Private Finance 2 Autumn Statement 2013 Bank of England Financial Stability Report hearings: Session 2014-15 Appointment hearings, Session 2013-14 Bank of England Inflation Report Hearings: Session 2013-14 EU Financial Regulation Monetary Policy: Forward Guidance UK Financial Investments Ltd 2013 The economics of HS2 SME Lending Financial Conduct Authority hearings The costing of pre-election policy proposals Performance of the Royal Mint Budget 2014 The economics of currency unions OBR: July 2013 Fiscal Sustainability Report Banks' Lending Practices: Treatment of Businesses in Distress RBS Independent Lending Review Prudential Regulation Authority Hearings: Session 2014-15 HM Treasury Annual Report and Accounts 2013-14 Treatment of Financial Services Consumers Bank of England Inflation Report Hearings: Session 2014-15 HMRC Business Plan 2014-16 Manipulation of Benchmarks Appointment hearings, Session 2014-15 Co-op Governance Review Cost effectiveness of economic and financial sanctions Bank of England Financial Stability Report Hearings 2015-16 Bank of England Inflation Report Hearings 2015-16 Summer Budget 2015 inquiry UK Financial Investments Ltd Annual Report and Accounts 14-15 Review of scope and performance of Office for Budget Responsibility Bank of England Bill inquiry Chair of Office for Budget Responsibility reappointment hearing HMRC Annual Report and Accounts 2014-15 inquiry Prudential Regulation Authority inquiry Comprehensive Spending Review and Autumn Statement 2015 inquiry Review of CMA work on Retail Banking Market one-off session Financial Conduct Authority Practitioner Panels one-off session Appointment of Gertjan Vlieghe to the Monetary Policy Committee hearing Reappointment of Ian McCafferty to the Monetary Policy Committee hearing Financial Conduct Authority Economic and financial costs and benefits of UK's EU membership Crown Estate Annual Report and Accounts 2013/14 Bank of England Foreign Exchange Market Investigation HM Revenue and Customs and HSBC Budget 2015 The UK's EU Budget Contributions Press briefing of information in the Financial Conduct Authority’s 2014/15 Business Plan Fair and Effective Markets Review The Payment Systems Regulator Implementing the recommendations on the Parliamentary Commission on Banking Standards Autumn Statement 2014 Work of the Tax Assurance Commissioner UK Financial Investments Ltd Proposals for further Fiscal and Economic Devolution to Scotland Debt Management Office Annual Report and Accounts 2013-14 UK Customs Policy Infrastructure The cost of living The venture capital market The crypto-asset industry Tax Reliefs September 2022 Fiscal Event The Financial Services and Markets Bill The mortgage market The Edinburgh Reforms Quantitative tightening Retail Banks Appointment of Andrew Bailey as Governor of the Bank of England Work of Government Actuary’s Department Work of the Financial Ombudsman Service Work of HM Treasury Future of Financial Services Spending Review 2020 HMRC Annual Report and Accounts Bank of England Financial Stability Reports The appointment of John Taylor to the Prudential Regulation Committee UK’s economic and trading relationship with the EU The appointment of Antony Jenkins to the Prudential Regulation Committee Access to Cash Review Bank of England Financial Stability Reports Bank of England Inflation Reports Consumers’ Access to Financial Services Decarbonisation of the UK Economy and Green Finance Economic Crime The effectiveness of gender pay gap reporting HMRC Annual Report and Accounts inquiry Tax enquiries and resolution of tax disputes IT failures in the financial services sector Appointment of Dame Colette Bowe to the Financial Policy Committee Re-appointment of Professor Anil Kashyap to the Financial Policy Committee Work of the Financial Services Compensation Scheme Spending Round 2019 The impact of Business Rates on business Work of the Court of the Bank of England Independent Review of the Co-Operative Bank Regional Imbalances in the UK Economy Re-appointment of Michael Saunders to the Monetary Policy Committee Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England Maxwellisation RBS's Global Restructuring Group and its treatment of SMEs SME Finance Spring Statement 2019 The future of the UK’s financial services HM Treasury Annual Report and Accounts Service Disruption at TSB The UK's economic relationship with the European Union VAT The work of the Bank of England The work of the Chancellor of the Exchequer The work of the Financial Conduct Authority The Work of the Treasury The work of the Prudential Regulation Authority

50 most recent Written Questions

(View all written questions)
Written Questions can be tabled by MPs and Lords to request specific information information on the work, policy and activities of a Government Department

13th Apr 2026
To ask His Majesty's Government for what reason the Valuation Office Agency published official statistics for the combination of Rateable Values in special category codes broken down by local authority for the 2023 Rating List, but has not published combined statistics for the 2026 Rating List; and whether the Head of Profession for Statistics has been consulted on the discrepancy, in accordance with the Code of Practice for Statistics, Edition 3.0, published in October 2025.

The Valuation Office Agency published a Special Category code and local authority breakdown as part of the annual `Non-domestic rating: stock of properties, 2025` official statistics.

HMRC will publish a Special Category code and local authority breakdown for the end of the 2023 list position (31 March 2026) on 14 May 2026 in the annual `NDR: Stock of Properties` publication. In the following year, HMRC will publish the first `NDR: Stock of Properties` publication which will include a Special Category code and local authority breakdown for the 2026 list. This is consistent with the data that has previously been published in official statistics by the Valuation Office Agency. The departmental Head of Profession for Statistics was regularly consulted and aware of VOA statistical publications.

Lord Livermore
Financial Secretary (HM Treasury)
22nd Apr 2026
To ask the Chancellor of the Exchequer, what meetings (a) she, (b) Ministers, (c) special advisers and (d) officials in her Department have had with the organisers of the Forest City 1 campaign.

Treasury Ministers have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial meetings with external organisations on departmental business are published on a quarterly basis and are available at the link below.

HM Treasury: ministerial overseas travel and meetings - GOV.UK

James Murray
Chief Secretary to the Treasury
17th Apr 2026
To ask the Chancellor of the Exchequer, what recent discussions she has had with the Secretary of State for Northern Ireland regarding the potential impact of an increase in fuel costs on the agricultural sector in Northern Ireland; and whether she is considering targeted support measures for farmers.

The Government is actively monitoring the increase in fuel costs across the whole of the UK, including in Northern Ireland, and any impacts on our food and farming sectors.

The Government has already announced that the 5p fuel duty cut will be extended until September.

James Murray
Chief Secretary to the Treasury
21st Apr 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of using defence bonds as a way to finance capital-intensive commitments in the Strategic Defence Review.

The majority of government borrowing is financed through the issuance of UK government bonds (known as gilts) by the UK Debt Management Office (DMO). In addition, some of the government’s financing is raised in the retail savings market through products offered by National Savings and Investments (NS&I). Finance raised via gilts or NS&I products is generally not tied to specific areas of government spending, in order to offer the best value-for-money for taxpayers.

The government keeps the introduction of new debt financing instruments under regular review.

James Murray
Chief Secretary to the Treasury
17th Apr 2026
To ask the Chancellor of the Exchequer, how many Certificates of Origin were granted to UK businesses for goods destined for the EU in 2025.

HMRC does not hold information on how many Certificates of Origin were granted to UK businesses for goods destined for the EU in 2025.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
17th Apr 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of a reduced rate of VAT for businesses in Northern Ireland on economic growth and competitiveness; and whether her Department has considered piloting such a measure in Northern Ireland.

VAT operates on a UK-wide basis and is a broad-based tax on consumption with the 20 per cent standard rate applying to most goods and services. VAT is the UK’s second largest tax, forecast to raise £180 billion in 2025/26.

Tax breaks reduce the revenue available for vital public services and must represent value for money for the taxpayer.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
13th Apr 2026
To ask the Chancellor of the Exchequer, pursuant to WPQ 124367, answered 13th April at 11:04, who commissioned the initial open book exercise.

The open-book review was a condition of the £400m reserve claim the Northern Ireland Executive received at Supplementary Estimates 2025-26. The review’s Terms of Reference were agreed between HM Treasury and the Northern Ireland Executive.

The exercise has now concluded, and HM Treasury has shared the report with the Northern Ireland Department of Finance.

James Murray
Chief Secretary to the Treasury
13th Apr 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 April 2026 to Question 124367, what the terms of reference were for the open book exercise.

The open-book review was a condition of the £400m reserve claim the Northern Ireland Executive received at Supplementary Estimates 2025-26. The review’s Terms of Reference were agreed between HM Treasury and the Northern Ireland Executive.

The exercise has now concluded, and HM Treasury has shared the report with the Northern Ireland Department of Finance.

James Murray
Chief Secretary to the Treasury
20th Apr 2026
To ask the Chancellor of the Exchequer, what estimate she has made of the potential Barnett consequences arising from the proposed expansion of the British Industrial Competitiveness Scheme.

The British Industrial Competitiveness Scheme is being delivered in England, Wales and Scotland.

Responsibility for energy policy in Northern Ireland sits with the Northern Ireland Executive. However, the UK Government will provide funding for the Northern Ireland Executive to deliver comparable support in the usual way.

James Murray
Chief Secretary to the Treasury
20th Apr 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of issuing retail bonds to support increased defence investment.

The majority of government borrowing is financed through the issuance of UK government bonds (known as gilts) by the UK Debt Management Office (DMO). In addition, some of the government’s financing is raised in the retail savings market through products offered by National Savings and Investments (NS&I). Finance raised via gilts or NS&I products is generally not tied to specific areas of government spending, in order to offer the best value-for-money for taxpayers.

The government keeps the introduction of new debt financing instruments under regular review.

James Murray
Chief Secretary to the Treasury
21st Apr 2026
To ask the Chancellor of the Exchequer, with reference to section 5 of the Government Efficiency Framework, published on 24 November 2025, if she will publish the most recent quarterly efficiencies report provided to her department by each government department and public body in scope of the reporting requirements.

Departments are required to report their efficiency savings within the performance section of their Annual Reports and Accounts (ARAs) from 2026-27.

James Murray
Chief Secretary to the Treasury
20th Apr 2026
To ask His Majesty's Government how many organisations were liable for the apprenticeship levy in (1) 2023, (2) 2024, and (3) 2025.

The number of employers that paid the Apprenticeship Levy in the 2022 to 2023, 2023 to 2024, and 2024 to 2025 tax years are outlined in the table below. Figures have been provided on a tax-year receipts basis and rounded to the nearest 100.

Table: Number of employers paying the Apprenticeship Levy

2022-23

2023-24

2024-25

Employers

34,200

36,000

36,900

Lord Livermore
Financial Secretary (HM Treasury)
22nd Apr 2026
To ask His Majesty's Government what assessment they have made of the UK’s economic performance compared to the EU and USA, considering GDP per capita.

The latest data from the ONS show that GDP per capita rose by 1.1 per cent in 2025, the fastest of any European G7 economy. Over the same period, GDP per capita rose 1.6 per cent in the United States and 1.3 per cent in the EU.

UK GDP per capita has grown by 1.0 per cent since the start of the Parliament, whereas it declined by 0.2 per cent during the previous Parliament.

Lord Livermore
Financial Secretary (HM Treasury)
21st Apr 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 April 2026 to Question 125241 on Gyms and Leisure Centres: Business Rates, on what date did (a) HM Treasury Ministers and (b) officials last meet with representatives from the gyms and leisure centre sector.

The sector was engaged as part of the recent Call for Evidence on business rates and investment, which closed on 18 February. The Government is carefully considering representations it has received, and a response to the Call for Evidence will be published in due course.

The sector was also engaged ahead of the Transforming Business Rates: Interim Report, published in September 2025: https://www.gov.uk/government/publications/transforming-business-rates-interim-report/transforming-business-rates-interim-report

Dan Tomlinson
Exchequer Secretary (HM Treasury)
21st Apr 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 April 2026 to Question 125241 on Gyms and Leisure Centres: Business Rates, whether fiscal pressures from business rates have recently been raised by leisure centre and gym sector representatives in meetings with (a) Treasury Ministers and (b) officials.

The sector was engaged as part of the recent Call for Evidence on business rates and investment, which closed on 18 February. The Government is carefully considering representations it has received, and a response to the Call for Evidence will be published in due course.

The sector was also engaged ahead of the Transforming Business Rates: Interim Report, published in September 2025: https://www.gov.uk/government/publications/transforming-business-rates-interim-report/transforming-business-rates-interim-report

Dan Tomlinson
Exchequer Secretary (HM Treasury)
21st Apr 2026
To ask the Chancellor of the Exchequer, how many individuals have settled their loan charge liability (a) in full or (b) through a Time to Pay arrangement since the publication of the Ray McCann review on 26 November 2025 until the most recent date for which data are available.

HMRC have now written to all taxpayers that they have identified as being eligible for the settlement opportunity, to explain how they are affected by the outcome of the review. Taxpayers who register an interest in settling under the new opportunity now will also be prioritised for contact and receive a settlement offer sooner once the settlement scheme has been introduced.
Dan Tomlinson
Exchequer Secretary (HM Treasury)
22nd Apr 2026
To ask the Chancellor of the Exchequer, pursuant to WPQ 128052, whether she will maintain the free to use MTD software for taxpayers for the lifetime of this Parliament.

I refer the honourable member to the answer provided in the response to UIN 126551.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
17th Apr 2026
To ask the Chancellor of the Exchequer, what assessment HMRC has made of the risk of unpaid employer National Insurance contributions within labour supply chains providing temporary staffing to the NHS following the Ducas tax dispute; and whether she plans to introduce a statutory (a) accreditation and (b) licensing regime for umbrella companies operating in the labour market.

Umbrella companies are a type of employment intermediary that engages workers on behalf of recruitment agencies and end client organisations. Although many umbrella companies operate diligently, others are used to facilitate non-compliance including tax avoidance and fraud.

From 6 April 2026, recruitment agencies are responsible for ensuring that Pay As You Earn and National Insurance contributions obligations are met when they choose to use an umbrella company to engage a worker. Where these obligations are not met, HMRC will recover underpayments from the recruitment agency. If there is no recruitment agency involved in an arrangement with an umbrella company, this responsibility will fall to the end client organisation. The rules apply regardless of the sector in which workers are engaged.

The new rules are intended to drive behavioural change in the temporary labour market, increasing the amount of assurance undertaken by organisations that use umbrella companies to force non-compliance umbrella companies out of the market. This change is forecast to protect around £2.7 billion across the scorecard period up to and including 2030-31.

It is right that organisations that choose to use umbrella companies to engage workers should take steps to make sure that they are compliant. HMRC has published extensive guidance to support organisations that use umbrella companies to undertake assurance checks.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
17th Apr 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of extending joint and several liability for payroll taxes within umbrella company arrangements on recruitment agencies supplying temporary staff to public sector bodies, including the NHS.

Umbrella companies are a type of employment intermediary that engages workers on behalf of recruitment agencies and end client organisations. Although many umbrella companies operate diligently, others are used to facilitate non-compliance including tax avoidance and fraud.

From 6 April 2026, recruitment agencies are responsible for ensuring that Pay As You Earn and National Insurance contributions obligations are met when they choose to use an umbrella company to engage a worker. Where these obligations are not met, HMRC will recover underpayments from the recruitment agency. If there is no recruitment agency involved in an arrangement with an umbrella company, this responsibility will fall to the end client organisation. The rules apply regardless of the sector in which workers are engaged.

The new rules are intended to drive behavioural change in the temporary labour market, increasing the amount of assurance undertaken by organisations that use umbrella companies to force non-compliance umbrella companies out of the market. This change is forecast to protect around £2.7 billion across the scorecard period up to and including 2030-31.

It is right that organisations that choose to use umbrella companies to engage workers should take steps to make sure that they are compliant. HMRC has published extensive guidance to support organisations that use umbrella companies to undertake assurance checks.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
17th Apr 2026
To ask the Chancellor of the Exchequer, what consideration she has given to establishing a government-recognised (a) compliance and (b) accreditation standard for umbrella companies to reduce payroll tax risk within labour supply chains supplying public sector bodies.

Umbrella companies are a type of employment intermediary that engages workers on behalf of recruitment agencies and end client organisations. Although many umbrella companies operate diligently, others are used to facilitate non-compliance including tax avoidance and fraud.

From 6 April 2026, recruitment agencies are responsible for ensuring that Pay As You Earn and National Insurance contributions obligations are met when they choose to use an umbrella company to engage a worker. Where these obligations are not met, HMRC will recover underpayments from the recruitment agency. If there is no recruitment agency involved in an arrangement with an umbrella company, this responsibility will fall to the end client organisation. The rules apply regardless of the sector in which workers are engaged.

The new rules are intended to drive behavioural change in the temporary labour market, increasing the amount of assurance undertaken by organisations that use umbrella companies to force non-compliance umbrella companies out of the market. This change is forecast to protect around £2.7 billion across the scorecard period up to and including 2030-31.

It is right that organisations that choose to use umbrella companies to engage workers should take steps to make sure that they are compliant. HMRC has published extensive guidance to support organisations that use umbrella companies to undertake assurance checks.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, whether the National Wealth Fund (a) conducted due diligence on alternative pipeline route and junction location options and (b) commissioned an independent engineering assessment of alternative junction locations for the meeting point of pipeline Sections 3 and 4 before investing in Peak Cluster Limited.

The National Wealth Fund (NWF) is operationally independent in regard to its investment decisions. The NWF undertakes extensive due diligence in line with commercial investor assessment standards, processes and quantification methodologies, to ensure that taxpayer funds are deployed safely, represent value for money, and support technically and commercially viable projects.


As part of this process, the NWF considers all relevant design, technical and delivery risks associated with proposed projects. Details of individual assessments, including any consideration of specific design or routing options, remain commercially sensitive.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, whether she plans to review the operation of the merged R&D tax relief scheme in relation to companies providing pre-clinical research services.

The Government recognises the important role that life sciences research and development (R&D) plays in driving innovation and economic growth as well as the benefits it can bring for society. The Government committed to maintaining the generosity of the rates in both the merged R&D Expenditure Credit (RDEC) scheme and the Enhanced R&D Intensive Support (ERIS). This, combined with the commitment to cap the headline rate of Corporation Tax, means that companies doing qualifying R&D – including pre-clinical R&D – will continue to receive between £15 to £27 for every £100 spent on R&D.

Under the merged R&D scheme, relief is generally available to the company that decides to undertake R&D and bears the financial risk, rather than the company contracted to carry it out, subject to limited exceptions. This approach is intended to ensure support is targeted at the company that invests in the R&D. These rules apply to pre-clinical research services in the same way as they do for all other companies.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, when HMRC will publish full staffing projections for Managed Service Provider and HMRC customer services staff.

HMRC is currently in an initial proof‑of‑value phase for its use of MSPs, which is helping to inform longer‑term workforce planning. At this stage, HMRC has no plans to publish full staffing projections for either MSPs or HMRC customer services staff.

Decisions about future staffing levels will be based on what is learned from the proof‑of‑value phase and will be taken through HMRC’s normal business planning and Spending Review processes.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what is the methodology and the formula used in the current rateable value calculation.

The Valuation Office calculates a rateable value for each business property in England and Wales. A rateable value is an estimate of what it would cost to rent a property for a year, on a set date known as the Valuation Date.

The methodology and approach used to assess rateable values varies depending on the type of property. The Valuation Office publishes a Rating Manual describing how each property class is valued. The manual for the 2023 rating list can be found here, and will be updated for the 2026 list in due course.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of Valuation Office Agency delays on people in West Dorset constituency.

I refer the Member to the answer given to Question UIN 126456 on 20 April 2026.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, whether she has had discussions with the (a) British Independent Retailers Association and (b) Independent Menswear Trade Organisation on the potential impact of changes to business rate bills on small independent retailers.

The Government’s Call for Evidence on business rates and investment has sought views from industry representatives, to establish more detailed evidence on how the business rates system influences investment decisions, with questions on the business rates system’s tax structure, Small Business Rates Relief, Improvement Relief and Empty Property Relief.

The Government is carefully considering the representations received – including those from BIRA and other retailers - and a summary of responses will be published in due course. HM Treasury also continues to have regular discussions with sector representatives to understand the impact of business rates on the sector’s financial sustainability.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what steps she is taking to ensure that national economic policy does not disproportionately impact the Oxford‑Cambridge growth corridor over regions with industrial, technology and energy capacity such as the North East.

The Government’s economic strategy aims to spread growth across Britain, supporting all regions by investing in transport, housing, skills, and key industrial sectors. The Chancellor has repeatedly emphasised that regional growth, including in the North and North East, is central to her plans, highlighted by ongoing work on the Northern Growth Strategy. These measures are part of a place-based approach to boost the UK’s productive capacity and living standards, ensuring national policy promotes growth in every region rather than focusing on a single area.

James Murray
Chief Secretary to the Treasury
15th Apr 2026
To ask the Chancellor of the Exchequer, what estimate she has made of the relative additional costs to domestic refineries of not including refined products in the Carbon Border Adjustment Mechanism from January 2028 for the 2028-29 financial year.

The government recognises the role that refineries play in energy security and the UK’s industrial base. The Government published a call for evidence (https://www.gov.uk/government/calls-for-evidence/future-of-the-uk-downstream-oil-sector/future-of-the-uk-downstream-oil-sector-call-for-evidence) on the future of the fuel sector on 23rd February 2026 in order to help understand the current state of the refining sector.

Following a strategic and technical assessment by HMG, it has been decided not to expand the Carbon Border Adjustment Mechanism (CBAM) to refined oil products in January 2028. We are continuing to work with the sector to assess the options and case for expanding CBAM to refined oil products at a later date.

We are unable to conclude that expanding the CBAM to refined oil products is technically feasible for January 2028, especially in an uncertain global environment where the potential adverse impacts of inclusion could not necessarily be managed effectively at such accelerated timelines.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Apr 2026
To ask the Chancellor of the Exchequer, whether her Department has undertaken an assessment of the potential impact of an overnight visitor levy on (a) employment in the hospitality and tourism sector, (b) regional growth and (c) tax receipts, including (i) VAT, (ii) income tax and (iii) National Insurance contributions associated with overnight stays and related visitor spending.

The Government has announced powers for Mayors to introduce a visitor levy on short-term overnight accommodation in their region, to drive economic growth, including through support for the local visitor economy.

At Budget, the Government published a consultation so that the public, businesses, and local government could shape the design of these powers, including options to minimise the burden on businesses and communities. This consultation closed on the 18th of February and the Government will publish a response in due course.

The precise design and scope of the power for Mayors to introduce a visitor levy is still under development, and the impacts of the levy will largely be determined by local decisions. Evidence from international and domestic schemes suggested modest rates have minimal impact on visitor numbers. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals. We expect Mayors to engage constructively with businesses and their communities to hear any concerns. Following consultation, we expect Mayors to publish a summary of the consultation results and their response, including a final prospectus, and an impact assessment.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Apr 2026
To ask the Chancellor of the Exchequer, whether her Department has undertaken modelling of the potential impact of introducing an overnight visitor levy on the economy in terms of a) jobs, b) GDP, c) sectoral investment and d) net tax benefit.

The Government has announced powers for Mayors to introduce a visitor levy on short-term overnight accommodation in their region, to drive economic growth, including through support for the local visitor economy.

At Budget, the Government published a consultation so that the public, businesses, and local government could shape the design of these powers, including options to minimise the burden on businesses and communities. This consultation closed on the 18th of February and the Government will publish a response in due course.

The precise design and scope of the power for Mayors to introduce a visitor levy is still under development, and the impacts of the levy will largely be determined by local decisions. Evidence from international and domestic schemes suggested modest rates have minimal impact on visitor numbers. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals. We expect Mayors to engage constructively with businesses and their communities to hear any concerns. Following consultation, we expect Mayors to publish a summary of the consultation results and their response, including a final prospectus, and an impact assessment.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Apr 2026
To ask the Chancellor of the Exchequer, whether her Department has undertaken modelling of the potential impact of introducing an overnight visitor levy on tourism demand in terms of a) number of nights stayed by domestic and international visitors, b) number of visits by domestic and international visitors, c) accommodation spend linked to number of nights spent in accommodation and d) tourism spend.

The Government has announced powers for Mayors to introduce a visitor levy on short-term overnight accommodation in their region, to drive economic growth, including through support for the local visitor economy.

At Budget, the Government published a consultation so that the public, businesses, and local government could shape the design of these powers, including options to minimise the burden on businesses and communities. This consultation closed on the 18th of February and the Government will publish a response in due course.

The precise design and scope of the power for Mayors to introduce a visitor levy is still under development, and the impacts of the levy will largely be determined by local decisions. Evidence from international and domestic schemes suggested modest rates have minimal impact on visitor numbers. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals. We expect Mayors to engage constructively with businesses and their communities to hear any concerns. Following consultation, we expect Mayors to publish a summary of the consultation results and their response, including a final prospectus, and an impact assessment.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
16th Apr 2026
To ask the Chancellor of the Exchequer, whether her Department has undertaken modelling on the potential impact of introducing an overnight visitor levy on a) high street footfall, b) numbers of empty shops and c) social mobility.

The Government has announced powers for Mayors to introduce a visitor levy on short-term overnight accommodation in their region, to drive economic growth, including through support for the local visitor economy.

At Budget, the Government published a consultation so that the public, businesses, and local government could shape the design of these powers, including options to minimise the burden on businesses and communities. This consultation closed on the 18th of February and the Government will publish a response in due course.

The precise design and scope of the power for Mayors to introduce a visitor levy is still under development, and the impacts of the levy will largely be determined by local decisions. Evidence from international and domestic schemes suggested modest rates have minimal impact on visitor numbers. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals. We expect Mayors to engage constructively with businesses and their communities to hear any concerns. Following consultation, we expect Mayors to publish a summary of the consultation results and their response, including a final prospectus, and an impact assessment.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
13th Apr 2026
To ask His Majesty's Government, further to the Written Answer by the Parliamentary Under-Secretary of State for Communities and Local Government on 26 October 2009 (HC col 140W), on housing valuation, how many and what proportion of dwellings in (1) Wales, and (2) England, are now recorded on the Valuation Office Agency's database with (a) dwellinghouse, and (b) value significant code, data.

As of 14 April 2026 there are 25,950,670 dwellings on the Council Tax list in England. Of these, 25,781,260 (99.3%) have a dwelling group, and 25,784,950 (99.4%) have a dwelling type, and 6,755,400 (26.0%) have at least one value significant code.

In Wales, there are 1,494,410 dwellings on the Council Tax list. Of these, 1,494,180 (>99.9%) have a dwelling group, and 1,494,060 (>99.9%) have a dwelling type. 403,610 (27.0%) have at least one value significant code.

Lord Livermore
Financial Secretary (HM Treasury)
13th Apr 2026
To ask His Majesty's Government, with reference to the Core Spending Power table: final local government finance settlement 2026–27 to 2028–29, published on 9 February, and the associated council tax requirement estimates for each year from 2024–25 to 2028–29 in England, whether they will publish equivalent estimates for the total business rate receipts in England in each of those years.

As set out in the Office for Budget Responsibility’s March 2026 Economic and Fiscal Outlook, business rates receipts in England were £32.1 billion in 2024/25 and are forecast to be £33.7 billion, £37.1 billion, £37.9 billion and £38.8 billion in 2025/26, 2026/27, 2027/28 and 2028/29 respectively.

Lord Livermore
Financial Secretary (HM Treasury)
14th Apr 2026
To ask His Majesty's Government what steps they are taking to protect vulnerable people from turning to illegal moneylenders.

The Government recognises the serious harm that illegal money lenders can cause, particularly to vulnerable people. To help prevent people from turning to illegal money lenders, the Government funds specialist Illegal Money Lending Teams (IMLTs). These teams combine enforcement action against illegal lenders with prevention and victim support, including awareness-raising in communities, working with local partners to identify those at risk, and encouraging the safe reporting of illegal lenders. More information about the work of the IMLTs is available on the Stop Loan Sharks website.[1] The Government is also taking steps to ensure appropriate access to regulated credit through the Financial Inclusion Strategy.

[1] https://www.stoploansharks.co.uk/.

Lord Livermore
Financial Secretary (HM Treasury)
14th Apr 2026
To ask His Majesty's Government whether the Chancellor has met the City Remembrancer Paul Wright; and if so, on how many occasions.

The Chancellor has not held or attended any meetings with the City Remembrancer Paul Wright.

The Chancellor and City Remembrancer are likely to have attended a number of the same events, relevant to their respective roles.

Lord Livermore
Financial Secretary (HM Treasury)
14th Apr 2026
To ask His Majesty's Government what consideration they have given to consolidating the anti-money laundering supervisory responsibilities of professional body supervisors under a statutory regulator, such as the Financial Conduct Authority.

The Chancellor announced in October that the Financial Conduct Authority (FCA) will become the Anti-Money Laundering/Counter Terrorist Financing (AML/CTF) supervisor for professional services firms, simplifying the current complex model. The FCA are currently working on the implementation of this new supervisory framework and HM Treasury will announce next steps shortly.

Lord Livermore
Financial Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 19 March 2026 to Question 120278 on Electric Vehicles: Costs, whether she will publish the analysis underpinning the estimated monthly cost savings under the proposed Government’s proposed electric Vehicle Excise Duty.

In answer to Question 120278 the Government set out that analysis suggests that the average EV driver will pay around £20 a month under the Government’s eVED proposals once the new policy starts in 2028, roughly half the equivalent rate for a petrol car.

This is based on an average EV driving 8,000 miles per year subject to an eVED rate of three pence per mile. The average EV driver will therefore pay £240 - or £20 per month - in eVED, while an average petrol/diesel car driving the same distance will pay around £480 in fuel duty, or six pence per mile.

The Government has set out expected impacts from eVED and other Budget measures in the Budget 2025 Policy Costings document at GOV.UK: https://assets.publishing.service.gov.uk/media/692872fd2a37784b16ecf676/Budget_2025-Policy_Costings.pdf

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what recent assessment she has made of the potential effect of developments in the Middle East on global financial stability.

Since the start of the conflict the Government has engaged allies and partners to urge de-escalation and shared efforts towards diplomacy, and has taken action to protect the UK public from the rising cost of living by providing immediate support for vulnerable heating oil customers and bringing energy bills down.

HM Treasury has also been working closely with the financial regulators to monitor potential risks to financial stability, including through its membership of the Bank of England’s Financial Policy Committee (FPC) and the global Financial Stability Board (FSB). The FPC is responsible in the UK for identifying, monitoring and taking action to remove or reduce systemic risks to the UK financial system.

In its April 2026 Record, the FPC assessed that conflict in the Middle East represents a negative supply shock to the global economy. The FPC noted that while the financial system has remained resilient, and the UK banking system has the capacity to support households and businesses even if conditions were to be substantially worse than expected, the conflict has increased global uncertainty following a period of already elevated risks and called for firms to actively manage their risks.

Torsten Bell
Parliamentary Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what steps her Department is taking to mitigate risks to UK economic security arising from financial instability in the Middle East.

Since the start of the conflict the Government has engaged allies and partners to urge de-escalation and shared efforts towards diplomacy, and has taken action to protect the UK public from the rising cost of living by providing immediate support for vulnerable heating oil customers and bringing energy bills down.

HM Treasury has also been working closely with the financial regulators to monitor potential risks to financial stability, including through its membership of the Bank of England’s Financial Policy Committee (FPC) and the global Financial Stability Board (FSB). The FPC is responsible in the UK for identifying, monitoring and taking action to remove or reduce systemic risks to the UK financial system.

In its April 2026 Record, the FPC assessed that conflict in the Middle East represents a negative supply shock to the global economy. The FPC noted that while the financial system has remained resilient, and the UK banking system has the capacity to support households and businesses even if conditions were to be substantially worse than expected, the conflict has increased global uncertainty following a period of already elevated risks and called for firms to actively manage their risks.

Torsten Bell
Parliamentary Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of discussions at the UK–US Financial Regulatory Working Group on (a) financial stability and (b) cross-border regulatory co-operation.

The Financial Regulatory Working Group (FRWG) was established in 2018 with a view to deepen bilateral financial regulatory cooperation between the UK and the US, including on issues relating to financial stability and to take stock of economic trends and market conditions. Further details on what was discussed at the most recent FRWG on 25 February 2026 can be found here: U.S. – UK Financial Regulatory Working Group Winter 2026: Joint Statement - GOV.UK.

The UK and US are also working closely together on the Transatlantic Taskforce for Markets of the Future, which was established jointly by HM Treasury and US Treasury on 22 September.

The Taskforce is exploring options to strengthen linkages between UK and US capital markets, supporting growth and competitiveness in both jurisdictions by reducing burdens for UK and US firms raising capital-cross border. It is also exploring opportunities for collaboration on digital assets and other innovative financial activities.

HM Treasury and the US Treasury have conducted joint senior-level industry engagement in both London and Washington DC to ensure the Taskforce’s work is informed by what matters most to industry on both sides of the Atlantic. The Taskforce aims to report back to both finance ministries on its recommendations via the FRWG in summer 2026.

Lucy Rigby
Economic Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what steps her Department is taking to strengthen UK–US co-operation on digital finance and innovation.

The Financial Regulatory Working Group (FRWG) was established in 2018 with a view to deepen bilateral financial regulatory cooperation between the UK and the US, including on issues relating to financial stability and to take stock of economic trends and market conditions. Further details on what was discussed at the most recent FRWG on 25 February 2026 can be found here: U.S. – UK Financial Regulatory Working Group Winter 2026: Joint Statement - GOV.UK.

The UK and US are also working closely together on the Transatlantic Taskforce for Markets of the Future, which was established jointly by HM Treasury and US Treasury on 22 September.

The Taskforce is exploring options to strengthen linkages between UK and US capital markets, supporting growth and competitiveness in both jurisdictions by reducing burdens for UK and US firms raising capital-cross border. It is also exploring opportunities for collaboration on digital assets and other innovative financial activities.

HM Treasury and the US Treasury have conducted joint senior-level industry engagement in both London and Washington DC to ensure the Taskforce’s work is informed by what matters most to industry on both sides of the Atlantic. The Taskforce aims to report back to both finance ministries on its recommendations via the FRWG in summer 2026.

Lucy Rigby
Economic Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of enhanced UK-US regulatory co-operation on the competitiveness of UK capital markets.

The Financial Regulatory Working Group (FRWG) was established in 2018 with a view to deepen bilateral financial regulatory cooperation between the UK and the US, including on issues relating to financial stability and to take stock of economic trends and market conditions. Further details on what was discussed at the most recent FRWG on 25 February 2026 can be found here: U.S. – UK Financial Regulatory Working Group Winter 2026: Joint Statement - GOV.UK.

The UK and US are also working closely together on the Transatlantic Taskforce for Markets of the Future, which was established jointly by HM Treasury and US Treasury on 22 September.

The Taskforce is exploring options to strengthen linkages between UK and US capital markets, supporting growth and competitiveness in both jurisdictions by reducing burdens for UK and US firms raising capital-cross border. It is also exploring opportunities for collaboration on digital assets and other innovative financial activities.

HM Treasury and the US Treasury have conducted joint senior-level industry engagement in both London and Washington DC to ensure the Taskforce’s work is informed by what matters most to industry on both sides of the Atlantic. The Taskforce aims to report back to both finance ministries on its recommendations via the FRWG in summer 2026.

Lucy Rigby
Economic Secretary (HM Treasury)
16th Apr 2026
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of co-locating community banking representatives within post offices.

Banks provide access to in‑person banking services through a range of channels, including branches, banking hubs and post offices.

Some banks also provide access to community bankers through pop‑up services in locations such as libraries and community centres, or via mobile banking vans serving rural and remote areas. Community bankers are bank employees who provide face-to-face support to customers in local communities outside a traditional branch, helping with banking queries and access to further support as needed. Decisions about where such services are located are commercial matters for individual banks.

The retail banking sector provides everyday banking services at post offices through the Banking Framework, a commercial agreement that enables personal and business customers to withdraw and deposit cash, check balances and pay bills at over 10,500 Post Office branches across the UK.

The Government supports initiatives that help customers access banking services in ways that reflect local needs, alongside digital provision.

In January, the Minister for Small Business and Economic Transformation and the Economic Secretary to the Treasury convened a roundtable with the Post Office and the banking sector to facilitate discussion on where further collaboration would allow all parties to better meet the needs of people and businesses.

The Government supports collaboration between banks and the Post Office, while being clear that this must be achieved on a voluntary and commercial basis.

Lucy Rigby
Economic Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of voluntary industry commitments to deliver banking hubs on adequate assurance of long term access to in person banking services.

Banking is changing, with many customers benefitting from the convenience and flexibility of managing their finances remotely. However, the Government understands the importance of access to in‑person banking services for communities and high streets and is committed to supporting the financial services industry’s roll-out of 350 banking hubs by the end of this Parliament. Importantly, this number is a floor, not a ceiling, and Cash Access UK will deliver a banking hub wherever LINK has recommended one. Over 275 hubs have been announced so far, and more than 230 are already open.

Banking hubs are a voluntary industry initiative from the largest UK high street banks which provide ‘assisted cash services’ in shared premises. They were developed in preparation for the FCA’s access to cash regime.

Banking hubs offer everyday counter services provided by Post Office staff, allowing people and businesses to withdraw and deposit cash, pay bills and make balance enquiries. They also contain dedicated rooms where customers can see community bankers from their own bank to carry out wider banking services.

Banking hub locations are independently recommended by LINK, the operator of UK’s largest ATM network. When a bank branch closes, or there is a material change to a cash service, or a community request is received, LINK conducts an access to cash assessment under the access to cash regime set out in the Financial Services and Markets Act 2023. In its assessments, LINK takes into consideration a wide range of criteria, including those unique to each location, such as population demographics, public transport links, existing and remaining cash access facilities and the number of shops.

Customers can also access everyday banking services through the Post Office. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check balances and pay bills at over 10,500 Post Office branches across the UK.

Some banks also provide points of access through initiatives such as pop-up services in libraries and community centres, or mobile banking vans serving rural and remote areas.  The Government supports initiatives which give customers access to in-person banking, as well as digital access.

The Government keeps the effectiveness of current arrangements under review through regular engagement with stakeholders to ensure they meet the needs of local communities.

Lucy Rigby
Economic Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, Pursuant to the answer of 24 March 2026, to Question 119974, on Bank Notes: Design, if she will make it her policy to have discussions with the Court of the Bank of England to lobby for the retention of historic British figures from the new series of British banknotes.

As set out in the Memorandum of Understanding between HM Treasury and the Bank of England, the Bank of England is entirely responsible for the design, production, issue and distribution of banknotes. There are no current plans to change these responsibilities.

The Bank of England will launch another consultation in summer 2026 to seek the views of the public on images for the next series of banknotes. Further detail can be found on the Bank of England’s website.

The final decision about what imagery will appear on the next series of banknotes will be made by the Governor of the Bank of England.

Lucy Rigby
Economic Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, if she will introduce a time-limited rebate on fuel duty for public transport providers and essential users in the road haulage sector.

The Government is taking action on fuel affordability at the pump.

At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027.

The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry.

As with all taxes, the Government keeps fuel duty under review.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what estimate she has made of the proportion of UK income going to workers in each of the next five years.

HM Treasury does not prepare forecasts for the UK economy. These forecasts are the responsibility of the independent Office for Budget Responsibility (OBR).

The OBR publishes its forecasts in their Economic and Fiscal Outlook (EFO). The OBR’s latest EFO can be found here: Economic and fiscal outlook – March 2026 - Office for Budget Responsibility. This includes the OBR’s forecast for the labour share of income at March 2026 which can be found in tab 1.6 of this link: Detailed Forecast Economy Tables.

Torsten Bell
Parliamentary Secretary (HM Treasury)
15th Apr 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the war in the Middle East on projected living standards in each of the next 5 years.

The Government keeps the economic outlook, including living standards, under close review. The economic impact of the situation in the Middle East will depend on its severity, duration and the extent of disruption to energy supplies. Official forecasts, including for living standards, are published by the independent Office for Budget Responsibility.

Living standards are rising, with real household disposable income per capita having risen by £700 in the last 12 months compared to the final year of the last Parliament.

The Government is acting to improve living standards by growing the economy, tackling inflation and supporting households, including measures at the Budget to cut energy bills, expand targeted support for lower‑income households, and freeze rail fares and NHS prescription charges.

Torsten Bell
Parliamentary Secretary (HM Treasury)