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.
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
Gareth Davies (Con - Grantham and Bourne)
Shadow Financial Secretary (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)
14:15
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
To ask the Chancellor of the Exchequer, with reference to the Answer of 8 July 2025 to Question HL8787 on …
These Regulations are made in exercise of the power conferred by regulation 12(2) of the Financial Services (Gibraltar) (Amendment) (EU …
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the …
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.
Bills currently before Parliament
HM Treasury does not have Bills currently before Parliament
Acts of Parliament created in the 2024 Parliament
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.
A Bill to make provision about secondary Class 1 contributions.
This Bill received Royal Assent on 3rd April 2025 and was enacted into law.
A Bill to make provision about finance.
This Bill received Royal Assent on 20th March 2025 and was enacted into law.
A Bill to amend the Crown Estate Act 1961.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
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.
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.
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.
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
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).
(3,667 in the last 7 days)
(1,597 in the last 7 days)
(942 in the last 7 days)
(605 in the last 7 days)
(515 in the last 7 days)
(3,667 in the last 7 days)
(169 in the last 7 days)
(88 in the last 7 days)
(339 in the last 7 days)
(605 in the last 7 days)
Petition Closed
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025closed 4 months, 3 weeks ago
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.
Petition Closed
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025closed 6 months 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.
Petition Closed
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025closed 5 months, 2 weeks ago
Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
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
Treasury Committee Member since 9th September 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 9th December 2024
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee: Upcoming Events
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18 Nov 2025, 9:45 a.m.
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Treasury Committee - Private Meeting
Budget 2025
19 Nov 2025, 2 p.m.
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Treasury Committee: 14 Current Inquiries
Treasury Committee: Previous Inquiries
50 most recent Written Questions
(View all written questions)The Valuation Office Agency (VOA) produces a range of videos for publication on its YouTube channel, including information about working at the VOA, and guidance and information videos on Council Tax and Business Rates. Please see: www.youtube.com/@VOAgovuk.
Exchequer Secretary (HM Treasury)
Making Tax Digital (MTD) for Income Tax will be introduced from April 2026 for sole traders and landlords with qualifying income over £50,000. Qualifying income is the total income from self-employment and property, assessed before expenses.
Local Authority councillors are office holders rather than sole traders. Their income and allowances do not count towards qualifying income for the purposes of Making Tax Digital for Income Tax.
Where a councillor has additional qualifying income from self-employment or property, they will need to comply where that income exceeds the MTD thresholds.
If a councillor is required to use MTD, and where expenses are claimed through a return, the councillor would make that claim as part of the end-of-year tax return through their MTD software.
Exchequer Secretary (HM Treasury)
Making Tax Digital (MTD) for Income Tax will be introduced from April 2026 for sole traders and landlords with qualifying income over £50,000. Qualifying income is the total income from self-employment and property, assessed before expenses.
Local Authority councillors are office holders rather than sole traders. Their income and allowances do not count towards qualifying income for the purposes of Making Tax Digital for Income Tax.
Where a councillor has additional qualifying income from self-employment or property, they will need to comply where that income exceeds the MTD thresholds.
If a councillor is required to use MTD, and where expenses are claimed through a return, the councillor would make that claim as part of the end-of-year tax return through their MTD software.
Exchequer Secretary (HM Treasury)
Making Tax Digital (MTD) for Income Tax requires users to use software to keep digital tax records, submit quarterly updates of income and expenditure and submit a tax return. HMRC’s Personal and Business Tax Accounts are not able to provide this level of functionality and ensuring that the software is digitally linked directly to a taxpayer account helps users avoid the errors that could occur when transposing figures manually.
The government is encouraging a thriving third-party software market to support the diverse range of business that will be using MTD. This will deliver flexible and tailored ways for users to manage their tax affairs, including integration with other business software and management tools as well as free and low-cost options.
Exchequer Secretary (HM Treasury)
VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. VAT is the UK’s third-largest tax, forecast to raise around £180 billion in 2025/26, helping to fund vital public services.
Tax breaks reduce the revenue available for those services and must represent value for money for the taxpayer. Exceptions to the standard rate have always been limited and balanced against affordability considerations.
There are no specific VAT reliefs for birthday parties. A local authority leisure centre may not charge VAT if the activity falls within existing VAT exemptions, such as those for sport or education, or where the activity is treated as part of the council’s non-business community functions. Activities such as soft play and bouncy castle parties are taxable at the 20 per cent standard rate.
Exchequer Secretary (HM Treasury)
In March 2023, the previous government published its response to the new alcohol duty system consultation which ran from October 2021 to January 2022. Within that response was a commitment to evaluate the impacts of the new rates and structures three years after the changes take effect on 1 August 2023.
The previous government’s response can be found here: The new alcohol duty system: final consultation response
HMRC and HM Treasury began to monitor the impacts of the new rates and structure before the changes were introduced on 1 August 2023. The timeframes committed to should be an appropriate amount of time to gather useful and accurate data that could be used to understand the impacts in the alcohol market.
Plans are being formulated within HMRC for discussions with business via their trade associations as part of the evaluation work. In the meantime, the government always welcomes written feedback direct from parliamentarians and their constituents.
Exchequer Secretary (HM Treasury)
In March 2023, the previous government published its response to the new alcohol duty system consultation which ran from October 2021 to January 2022. Within that response was a commitment to evaluate the impacts of the new rates and structures three years after the changes take effect on 1 August 2023.
The previous government’s response can be found here: The new alcohol duty system: final consultation response
HMRC and HM Treasury began to monitor the impacts of the new rates and structure before the changes were introduced on 1 August 2023. The timeframes committed to should be an appropriate amount of time to gather useful and accurate data that could be used to understand the impacts in the alcohol market.
Plans are being formulated within HMRC for discussions with business via their trade associations as part of the evaluation work. In the meantime, the government always welcomes written feedback direct from parliamentarians and their constituents.
Exchequer Secretary (HM Treasury)
Exchequer Secretary (HM Treasury)
Details on the Valuation Office Agency’s (VOA) Automated Valuation Model (AVM) including its development, testing and data are published here:
Exchequer Secretary (HM Treasury)
The Rural Fuel Duty Relief Scheme has provided a 5p reduction to motorists buying fuel in certain areas since its introduction in 2012. The Government publishes figures for the estimated cost of non-structural tax reliefs at the following link: https://www.gov.uk/government/statistics/main-tax-expenditures-and-structural-reliefs/non-structural-tax-relief-statistics-december-2024.
Exchequer Secretary (HM Treasury)
HMRC has not issued specific guidance on the residual tax liability of unincorporated associations that have been dissolved.
The treatment will depend on the types of tax involved, the structure of the unincorporated association and how it was dissolved. It is a complicated legal area that will depend heavily on the facts and we would suggest that any persons affected engage with HMRC directly or seek specialist advice if appropriate.
Exchequer Secretary (HM Treasury)
The Valuation Office Agency (VOA) routinely meet with devolved governments. The VOA has not discussed banding with Scottish Government or Scottish Assessors Association (SAA) but has provided an overview of their model assisted valuation to the SAA as part of regular knowledge sharing.
Exchequer Secretary (HM Treasury)
I refer the hon. Member to the response to UIN 77749.
Exchequer Secretary (HM Treasury)
The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.
As set out at Autumn Budget 2024, the Government will introduce permanently lower tax rates for retail, hospitality, and leisure properties with rateable values (RVs) below £500,000 from 2026/27. This permanent tax cut will ensure they benefit from much-needed certainty and support. The Government is sustainably funding this by introducing a higher tax rate on properties with RVs of £500,000 and above.
The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes and broader economic and fiscal context into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
Exchequer Secretary (HM Treasury)
The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.
As set out at Autumn Budget 2024, the Government will introduce permanently lower tax rates for retail, hospitality, and leisure properties with rateable values (RVs) below £500,000 from 2026/27. This permanent tax cut will ensure they benefit from much-needed certainty and support. The Government is sustainably funding this by introducing a higher tax rate on properties with RVs of £500,000 and above.
The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes and broader economic and fiscal context into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
Exchequer Secretary (HM Treasury)
The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.
As set out at Autumn Budget 2024, the Government will introduce permanently lower tax rates for retail, hospitality, and leisure properties with ratable values (RVs) below £500,000 from 2026/27. This permanent tax cut will ensure they benefit from much-needed certainty and support. The Government is sustainably funding this by introducing a higher tax rate on properties with RVs of £500,000 and above.
The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes and broader economic and fiscal context into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
The Transforming Business Rates: Interim Report, published on 11 September, sets out the Government’s next steps to deliver a fairer business rates system. The Government is exploring enhancing Small Business Rates Relief to more effectively support investment and expansion among small businesses.
Exchequer Secretary (HM Treasury)
The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.
To deliver our manifesto pledge, from 2026/27, the Government intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, including those on the high street, with rateable values below £500,000. This permanent tax cut will ensure that they benefit from much-needed certainty and support.
This tax cut must be sustainably funded, and so we intend to introduce a higher rate on the most valuable properties in 2026/27 - those with Rateable Values (RVs) of £500,000 and above. These represent less than one per cent of all properties, but cover the majority of large distribution warehouses, including those used by online giants.
The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes and broader economic and fiscal context into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
Ahead of these changes being made, we recognise that businesses will need support in 2025/26. As such, the Government has prevented the current RHL relief from ending in April 2025, extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and the Government has frozen the small business multiplier.
Exchequer Secretary (HM Treasury)
The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.
To deliver our manifesto pledge, from 2026/27, the Government intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties, including those on the high street, with rateable values below £500,000. This permanent tax cut will ensure that they benefit from much-needed certainty and support.
This tax cut must be sustainably funded, and so we intend to introduce a higher rate on the most valuable properties in 2026/27 - those with Rateable Values (RVs) of £500,000 and above. These represent less than one per cent of all properties, but cover the majority of large distribution warehouses, including those used by online giants.
The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes and broader economic and fiscal context into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
Ahead of these changes being made, we recognise that businesses will need support in 2025/26. As such, the Government has prevented the current RHL relief from ending in April 2025, extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and the Government has frozen the small business multiplier.
Exchequer Secretary (HM Treasury)
The Government recently consulted on proposals to reform Landfill Tax to ensure the regime remains effective in encouraging waste to be diverted away from landfill and to support the Government’s circular economy objectives. As part of the consultation, the Government has received a wide range of views from stakeholders on the impact of the proposals, including from representatives of the mineral products sector. The consultation closed on 28 July, and the Government is considering responses and will set out next steps in due course.
Exchequer Secretary (HM Treasury)
The Government confirms tax rates and thresholds annually. In some cases, reflecting the government’s economic and fiscal objectives, they are uprated to account for inflation.
The Office for National Statistics, regulated by the UK Statistics Authority (UKSA), produces a range of inflation statistics. The most widely used estimates of inflation, both by Government and the private sector, are the Consumer Prices Index (CPI) and the Retail Prices Index (RPI)
The Government agrees with UKSA that RPI has flaws, and at times overstates and at times understates changes in prices. RPI’s shortcomings are well-documented. In 2013, as a result of flaws in the way it is measured, RPI lost its status as a National Statistic. Since 2010 the Government has been reducing its use of RPI and has committed to not introduce any new uses of RPI. Further moves away from RPI are complex and more work is required to understand the costs and benefits of any changes.
Exchequer Secretary (HM Treasury)
The UK is committed to working with all stakeholders to ensure inclusive and effective international tax cooperation, and has been actively engaging in negotiations at the UN over a future Framework Convention, including the recent informal sessions for the technical workstreams.
The UK believes that a UN Tax Framework Convention has the potential to further advance international tax cooperation, but to be successful, it needs to be clear in its aims, avoid duplicating initiatives, and seek to secure the broad support and participation of members.
Exchequer Secretary (HM Treasury)
The Government conducted thorough and detailed analysis of the impacts of the VAT policy and at Autumn Budget 2024 published a Tax Impact and Information Note (TIIN) which sets out this analysis. This is a comprehensive assessment of the impacts on individuals and families, businesses and the wider economy, as well as equalities impacts. This can be found online here:
VAT on Private School Fees & Removing the Charitable Rate Relief for Private Schools - GOV.UK
Government analysis on the expected impact of the removal of charitable rate relief from private schools in England can be found online here: https://www.gov.uk/government/publications/removal-of-eligibility-of-private-schools-for-business-rates-charitable-relief/removal-of-eligibility-of-private-schools-for-business-rates-charitable-relief.
Exchequer Secretary (HM Treasury)
The Government conducted thorough and detailed analysis of the impacts of the VAT policy and at Autumn Budget 2024 published a Tax Impact and Information Note (TIIN) which sets out this analysis. This is a comprehensive assessment of the impacts on individuals and families, businesses and the wider economy, as well as equalities impacts. This can be found online here:
VAT on Private School Fees & Removing the Charitable Rate Relief for Private Schools - GOV.UK
Government analysis on the expected impact of the removal of charitable rate relief from private schools in England can be found online here: https://www.gov.uk/government/publications/removal-of-eligibility-of-private-schools-for-business-rates-charitable-relief/removal-of-eligibility-of-private-schools-for-business-rates-charitable-relief.
Exchequer Secretary (HM Treasury)
The Motability Scheme allows those eligible for a qualifying mobility allowance to lease a new car, Wheelchair Accessible Vehicle, scooter or powered wheelchair. The Motability Scheme receives relief from VAT and Insurance Premium Tax.
The level of advanced payments is commercially determined by the Motability Operations Group, which is independent of Government. A number of vehicles are currently available through Motability without any additional payment beyond the enhanced Mobility component of PIP.
The Government keeps all taxes under review, and the Chancellor makes decisions on tax policy at fiscal events in the context of the overall public finances.
Exchequer Secretary (HM Treasury)
The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events in the context of the public finances.
Exchequer Secretary (HM Treasury)
Local authorities have a duty to provide free transport from home to school, in certain circumstances. This is a non-business activity for VAT and where a local authority purchases the services of private hire companies in order to fulfil their statutory obligations, the VAT can be recovered under the section 33 refund scheme for local authorities.
However, if a VAT-registered local authority is charging for transport services, and VAT is due on the fee, that is a taxable business activity. In these circumstances, the local authority can reclaim the VAT on its costs as input tax, under the normal rules.
Guidance on when a local authority’s activities are regarded as non-business for VAT purposes is covered in section 2 of VAT Notice 749, which is available on GOV.UK. Section 4 of the Notice provides guidance on the section 33 refund scheme.
Exchequer Secretary (HM Treasury)
We consulted on measures to simplify gambling duty and improve compliance. The consultation closed on 21 July and all responses are being carefully considered. The Chancellor makes decisions on tax at fiscal events and will set out our response to the consultation at the Budget.
Exchequer Secretary (HM Treasury)
The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.
As announced at Autumn Budget 2024, the Government will introduce permanently lower businessrates multipliers for retail, hospitality, and leisure (RHL) properties with rateable values (RVs) below £500,000 from 2026/27.
To fund these lower RHL multipliers sustainably, from 2026/27, the Government is also introducing a higher multiplier on properties with RVs of £500,000 and above. The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes and broader economic and fiscal context into decision-making.
The Government has considered the impact of these policies on a range of sectors as part of the policy development process.
Exchequer Secretary (HM Treasury)
The Government keeps the tax system under review, with changes announced at fiscal events and careful consideration given to the impacts of any changes.
Exchequer Secretary (HM Treasury)
At Autumn Budget 2024, the Government announced continued support for people and businesses by extending the temporary 5p fuel duty cut and cancelling the planned increase in line with inflation for 2025/26. The temporary 5p cut is scheduled to expire in March 2026. The Government considers the impact of fuel duty on households and businesses across the country, with decisions on rates made at fiscal events.
Exchequer Secretary (HM Treasury)
At the Budget on 26 November, the government will continue to deliver on the priorities of the British people: cutting NHS waiting lists, cutting the national debt and cutting the cost of living. There will be no return to austerity and we will end the unfairness and low growth that squeezes living standards for working people: that is the path to national renewal.
The Chancellor’s decisions on tax will be announced in the usual way at the Budget.
I do note that the 2023 budget under the Conservative government increased corporation tax on businesses from 19% to 25%.
We do not comment on tax speculation ahead of fiscal events.
Exchequer Secretary (HM Treasury)
Tobacco duty aims to both raise revenue and reduce harm to public health by discouraging smoking. High duty rates make tobacco less affordable and are a proven way to reduce smoking prevalence and have helped reduce the percentage of adult smokers in the UK from 26% in 2000 to 11.9% in 2023. The ONS survey on adult smoking habits 2023 can be found here.
Adult smoking habits in the UK - Office for National Statistics
Exchequer Secretary (HM Treasury)
Tobacco duty aims to both raise revenue and reduce harm to public health by discouraging smoking. High duty rates make tobacco less affordable and are a proven way to reduce smoking prevalence and have helped reduce the percentage of adult smokers in the UK from 26% in 2000 to 11.9% in 2023. The ONS survey on adult smoking habits 2023 can be found here.
Adult smoking habits in the UK - Office for National Statistics
Exchequer Secretary (HM Treasury)
At Autumn Budget 2024, the Government renewed the commitment to a tobacco duty escalator, which increases duty by 2 per cent above RPI inflation at each Budget, until the end of the current Parliament. This is part of the Government’s focus on health prevention and to continue our drive to reduce smoking prevalence.
Exchequer Secretary (HM Treasury)
The Plastic Packaging Tax was introduced in April 2022 under the previous government and provides a price incentive for businesses to use recycled plastic in the manufacture of plastic packaging – thereby stimulating the collection and recycling of plastic waste.
All tax rates and thresholds are reviewed at fiscal events.
Exchequer Secretary (HM Treasury)
Pensions tax relief is one of the most expensive reliefs in the personal tax system, costing £78.2 billion in 2023/24.
The Government remains committed to encouraging pension saving, to help ensure that people have an income, or funds on which they can draw, throughout retirement.
Parliamentary Secretary (HM Treasury)
The EU Carbon Border Adjustment Mechanism (EU CBAM) will apply in its definitive regime from January 2026 and does not apply in Northern Ireland.
To support business readiness for the EU CBAM, the Department for Business and Trade offers a comprehensive support package, including the Export Support Service (ESS), webinars, and an upcoming digital explainer on business.gov.uk, signposting to relevant European Commission resources.
Exchequer Secretary (HM Treasury)
The EU Carbon Border Adjustment Mechanism (EU CBAM) will apply in its definitive regime from January 2026 and does not apply in Northern Ireland.
To support business readiness for the EU CBAM, the Department for Business and Trade offers a comprehensive support package, including the Export Support Service (ESS), webinars, and an upcoming digital explainer on business.gov.uk, signposting to relevant European Commission resources.
Exchequer Secretary (HM Treasury)
The government expects that insurers deliver good outcomes to consumers and firms are required to do so under Financial Conduct Authority (FCA) rules. These rules require firms to ensure their products offer fair value. This means the price paid by consumers must be reasonable compared to the benefits they receive. The FCA monitors firms and has robust powers to act against firms that breach its rules.
The government’s Financial Inclusion Strategy, published on 5 November 2025, recognises that insurance has an important part to play in financial resilience and wellbeing, and sets out a range of interventions to improve access. This includes a total signposting initiative which will help underserved consumers find insurance policies which meet their needs.
The government also plans to publish the final report of the cross-government Motor Insurance Taskforce in the autumn. As part of the taskforce’s work to understand how the cost of motor insurance impacts on particular groups of customers, the FCA is conducting statistical analysis to evaluate the impacts on different age groups and consumers living in areas with a higher proportion of minority ethnic residents. The FCA will publish its findings later this year.
Economic Secretary (HM Treasury)
All businesses, including those using the Trader Support Service, have until midnight on 31 December 2025 to onboard onto the Import Control System 2 (ICS2), so they can continue to provide safety and security information for certain goods moving by road to Northern Ireland.
Traders can continue to move goods through the Trader Support Service using ICS NI until 31 December 2025.
The ICS2 system has been available for road movements since 1 April 2025, with operators initially having until 1 September 2025 to onboard to the new system. This has subsequently been extended to 31 December 2025 to give businesses more time to prepare.
HMRC has an extensive communications and engagement plan to support business readiness for the changes, and businesses moving goods between Great Britain and Northern Ireland are encouraged to start using ICS2 before 31 December 2025 if they are ready to do so.
Exchequer Secretary (HM Treasury)
The previous government made the decision to freeze the income tax Personal Allowance at its current level of £12,570 until April
The previous government published a Tax Information and Impact Note (TIIN) setting out the impacts.
Parliamentary Secretary (HM Treasury)
HM Treasury Ministers discuss a range of subjects with Ministers from other departments, including the Department for Environment, Food and Rural Affairs.
The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, fixing the public finances, and funding public services. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.
Exchequer Secretary (HM Treasury)
Child Benefit is a non-means tested benefit payable to families as a contribution towards the cost of raising children. It is claimed through the Child Benefit service, which is separate to Self Assessment, so for the majority of families Child Benefit checks should have no impact on the timelines of Self Assessment tax repayments.
There are no further impacts anticipated.
Exchequer Secretary (HM Treasury)
It is important that the Finance: Interministerial Standing Committee remains a space for confidential discussions between governments, so it would not be appropriate to comment on the detail of those discussions.
I look forward to continued engagement with devolved government finance ministers on a wide range of topics.
Chief Secretary to the Treasury
The Government is committed to providing access to affordable childcare to support parents’ who want to go out to work, and their local economies. This includes rollout of 30 funded hours for working parents from September 2025, which the OBR has estimated would lead to 60,000 more people in employment and 1.5m people increasing their hours.
The income threshold for childcare eligibility ensures that support is targeted towards the families who most need it, and that the system remains fair and sustainable.
Chief Secretary to the Treasury
HMRC recognise that repayments are important for customers. They prioritise them to ensure they are processed as quickly and securely as possible.
HMRC balance the provision of prompt payments to eligible customers with effective revenue protection from fraudsters.
For Self Assessment repayments, once the repayment is created it goes through automated fraud and compliance checks. In 2024-25, after these checks, 93.1% of the repayments were paid automatically within a few days.
HMRC continues to invest in automation and to review their internal processes to ensure repayments are issued as quickly as possible.
HMRC recognise too the importance of keeping the customer, and where appropriate the customer’s representative, informed of progress, and are exploring ways of doing that more effectively.
In the meantime, HMRC’s online ‘Where’s My Reply’ tool can help customers understand when they can expect to receive a response.
HMRC aim to respond to complaints within six weeks.
In 2024-25, HMRC responded to 73% of new complaints within this timeframe. HMRC are committed to prioritising customer experience and are reviewing their complaints processes. The Adjudicator’s Annual Report was published on 20 October 2025 and HMRC are using the insight in the report to make further improvements.
Exchequer Secretary (HM Treasury)
Year | Probation Extended | Left – Involuntarily (following probation extension/not passing original probation) |
2020 | 7 | Fewer than 51 |
2021 | 13 | 5 |
2022 | 5 | Fewer than 51 |
2023 | 6 | Fewer than 51 |
2024 | Fewer than 51 | Fewer than 51 |
Notes:
- “Fewer than 5” is shown to protect individual confidentiality where the actual number is very small and could lead to identification of staff"
Exchequer Secretary (HM Treasury)
Performance management reviews are conducted in accordance with the relevant policies and procedures within HM Treasury and its agencies. The total number of reviews carried out over the past five years, including those that resulted in a poor performance rating, and the number of staff that left as a result is presented in the table below. We are unable to provide the exact proportion of full-time equivalent staff this represented due to the very small numbers involved, which could risk disclosure of personal information.
HMT | |||
Year | No of Reviews | No of Poor Performance Markings | No of staff that left as a result |
2024-2025 | 2,057 | 28 | fewer than 5 4 |
2023-2024 | 1,962 | 19 | fewer than 5 4 |
2022-2023 | 1,959 | 22 | fewer than 5 4 |
2021-2022 | 1,976 | 26 | fewer than 5 4 |
2020-2021 | 1,864 | 21 | fewer than 5 4 |
Government Internal Audit Agency (GIAA) | |||
Year | No of Reviews 1 | No of Poor Performance Markings | No of staff who left as a result |
2024-2025 | 498 | Markings not given/unable to disclose 2 | Unable to disclose 4 |
2023-2024 | 509 | Markings not given/unable to disclose 2 | Unable to disclose 4 |
2022-2023 | 470 | Markings not given/unable to disclose 2 | Unable to disclose 4 |
2021-2022 | 461 | Data not available 3 | Unable to disclose 4 |
2020-2021 | 468 | Data not available 3 | Unable to disclose 4 |
Debt Management Office (DMO) | |||
Year | No of Reviews | Classified as Unsatisfactory or below | |
2025 | 115 | 0 | |
2024 | 111 | fewer than 5 4 | |
2023 | 104 | 0 | |
2022 | 96 | 0 | |
2021 | 200 | 0 | |
Notes:
- Figures for GIAA refer to the headcount at the end of the financial year as an indicator of the number of year-end reviews held.
- For GIAA delegated grades, performance markings are not provided because the agency moved away from using formal markings in 2022–23; earlier central records are not readily available.
- For GIAA central records of poor performance markings are not readily available for this period.
- For GIAA Senior Civil Service (SCS) and delegated grades, data on staff leaving as a result of poor performance is “unable to disclose” because the numbers are too small (including where the value is zero), which could lead to identification of individuals. For HMT, “fewer than 5” is shown to protect individual confidentiality where the actual number is very small and could lead to identification of staff
DMO
- The DMO has a performance assessment system with 5 categories from Exceptional, Exceeds, Fully Effective, Developing and Must Improve. Although there is no direct read across to the “unsatisfactory” requested in the PQ, we have assessed this as relating to the DMO’s “Must Improve” category.
Exchequer Secretary (HM Treasury)
The Government recognises the importance of Remembrance events and the role they play in honouring those who have served.
Where a charity chooses to offer its goods or services for free and invite voluntary donations, no VAT is charged. Charities also rightly enjoy generous tax reliefs, worth over £6 billion in 2024, including Gift Aid, exemptions from corporation tax and a number of VAT reliefs to support fund-raising activities. However, where charities sell goods and services, for example charging a set price, and the charity is VAT registered, it must charge VAT unless a VAT relief is available.
HMRC does not hold information on VAT charged on specific products or services. This is because businesses are not required to provide figures at a product level within their VAT returns, as this would impose an excessive administrative burden.
Exchequer Secretary (HM Treasury)