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

Jeremy Hunt
Chancellor of the Exchequer

Shadow Ministers / Spokeperson
Democratic Unionist Party
Sammy Wilson (DUP - East Antrim)
Shadow DUP Spokesperson (Treasury)

Liberal Democrat
Baroness Kramer (LD - Life peer)
Liberal Democrat Lords Spokesperson (Treasury and Economy)

Plaid Cymru
Ben Lake (PC - Ceredigion)
Shadow PC Spokesperson (Treasury)

Labour
Rachel Reeves (Lab - Leeds West)
Shadow Chancellor of the Exchequer

Liberal Democrat
Sarah Olney (LD - Richmond Park)
Liberal Democrat Spokesperson (Treasury)

Labour
Baroness Chapman of Darlington (Lab - Life peer)
Shadow Spokesperson (Treasury)
Lord Livermore (Lab - Life peer)
Shadow Spokesperson (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Labour
James Murray (Lab - Ealing North)
Shadow Financial Secretary (Treasury)
Tulip Siddiq (Lab - Hampstead and Kilburn)
Shadow Minister (Treasury)
Darren Jones (Lab - Bristol North West)
Shadow Chief Secretary to the Treasury
Ministers of State
Nigel Huddleston (Con - Mid Worcestershire)
Financial Secretary (HM Treasury)
Laura Trott (Con - Sevenoaks)
Chief Secretary to the Treasury
Parliamentary Under-Secretaries of State
Gareth Davies (Con - Grantham and Stamford)
Exchequer Secretary (HM Treasury)
Bim Afolami (Con - Hitchin and Harpenden)
Economic Secretary (HM Treasury)
Baroness Vere of Norbiton (Con - Life peer)
Parliamentary Secretary (HM Treasury)
Scheduled Event
Tuesday 19th March 2024
HM Treasury
Legislation - Main Chamber
National Insurance Contributions (Reduction in Rates) (No.2) Bill – committee stage and all remaining stages
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Scheduled Event
Tuesday 19th March 2024
HM Treasury
Legislation - Main Chamber
Supply and Appropriation (Anticipation and Adjustments) Bill - all stages
View calendar
Scheduled Event
Tuesday 19th March 2024
11:30
HM Treasury
Oral questions - Main Chamber
19 Mar 2024, 11:30 a.m.
HM Treasury (including Topical Questions)
Save to Calendar
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Scheduled Event
Tuesday 26th March 2024
HM Treasury
Orders and regulations - Grand Committee
Financial Services and Markets 2000 (Disapplication or Modification of Financial Regulator Rules in Individual Cases) Regulations 2024
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Scheduled Event
Tuesday 7th May 2024
11:30
HM Treasury
Oral questions - Main Chamber
7 May 2024, 11:30 a.m.
HM Treasury (including Topical Questions)
Save to Calendar
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Debates
Thursday 14th March 2024
Select Committee Inquiry
Tuesday 31st January 2023
Written Answers
Monday 18th March 2024
Finance: Advisory Services
To ask the Chancellor of the Exchequer, how many regulations governing the financial advice sector there are; how many there …
Secondary Legislation
Friday 15th March 2024
Social Security (Class 2 National Insurance Contributions) (Consequential Amendments and Savings) Regulations 2024
These Regulations make consequential provisions and savings following the introduction of treating self-employed earners with profits at or above the …
Bills
Thursday 14th March 2024
Supply and Appropriation (Anticipation and Adjustments) Bill 2023-24
A Bill to authorise the use of resources for the years ending with 31 March 2023, 31 March 2024 and …
Dept. Publications
Monday 18th March 2024
12:25
New NS&I Board Appointments
News and Communications

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
Feb. 06
Oral Questions
Jan. 25
Urgent Questions
Mar. 14
Written Statements
Mar. 05
Westminster Hall
Jan. 15
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

Introduced: 7th March 2024

A Bill to make provision for and in connection with reducing the main rates of primary Class 1 national insurance contributions and Class 4 national insurance contributions.

Commons Completed
Lords - 40%

Last Event - 3rd Reading
Wednesday 13th March 2024
Next Event - 2nd Reading
Monday 18th March 2024
Introduced: 14th March 2024

A Bill to authorise the use of resources for the years ending with 31 March 2023, 31 March 2024 and 31 March 2025; 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 2023 and 31 March 2024.

Commons Completed

Last Event - 1st Reading
Thursday 14th March 2024
Next Event - 2nd Reading
Monday 18th March 2024
Introduced: 13th March 2024

A Bill to make provision in connection with finance.

Commons - 20%

Last Event - 1st Reading
Wednesday 13th March 2024

Acts of Parliament created in the 2019 Parliament

Introduced: 27th November 2023

A Bill to make provision in connection with finance.

This Bill received Royal Assent on 22nd February 2024 and was enacted into law.

Introduced: 23rd November 2023

A Bill to make provision for and in connection with reducing the main rates of primary Class 1 national insurance contributions and Class 4 national insurance contributions, and removing the requirement to pay Class 2 national insurance contributions.

This Bill received Royal Assent on 13th December 2023 and was enacted into law.

Introduced: 5th July 2023

A Bill to Authorise the use of resources for the year ending with 31 March 2024; 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 2023.

This Bill received Royal Assent on 11th July 2023 and was enacted into law.

Introduced: 21st March 2023

A Bill to make provision in connection with finance.

This Bill received Royal Assent on 11th July 2023 and was enacted into law.

Introduced: 20th July 2022

A Bill To make provision about the regulation of financial services and markets; and for connected purposes.

This Bill received Royal Assent on 29th June 2023 and was enacted into law.

Introduced: 11th May 2022

A Bill to make provision about the UK Infrastructure Bank

This Bill received Royal Assent on 23rd March 2023 and was enacted into law.

Introduced: 8th March 2023

A Bill to Authorise the use of resources for the years ending with 31 March 2022, 31 March 2023 and 31 March 2024; 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 2022 and 31 March 2023.

This Bill received Royal Assent on 23rd March 2023 and was enacted into law.

Introduced: 24th October 2022

A Bill to reduce for a temporary period the amount of stamp duty land tax chargeable on the acquisition of residential property.

This Bill received Royal Assent on 8th February 2023 and was enacted into law.

Introduced: 22nd November 2022

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on 10th January 2023 and was enacted into law.

Introduced: 24th October 2022

A Bill to authorise the use of resources for the year ending with 31 March 2023; to authorise the issue of sums out of the Consolidated Fund for that year; and to appropriate the supply authorised by this Act for that year.

This Bill received Royal Assent on 25th October 2022 and was enacted into law.

Introduced: 22nd September 2022

A Bill to make provision for and in connection with the repeal of the Health and Social Care Levy Act 2021.

This Bill received Royal Assent on 25th October 2022 and was enacted into law.

Introduced: 6th July 2022

A Bill to authorise the use of resources for the year ending with 31 March 2023; 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 2022

This Bill received Royal Assent on 14th July 2022 and was enacted into law.

Introduced: 5th July 2022

A Bill to make provision for, and in connection with, imposing a charge on ring fence profits of companies.

This Bill received Royal Assent on 14th July 2022 and was enacted into law.

Introduced: 24th March 2022

A Bill to make provision for and in connection with increasing the thresholds at which primary Class 1 contributions, Class 2 contributions and Class 4 contributions become payable.

This Bill received Royal Assent on 31st March 2022 and was enacted into law.

Introduced: 12th May 2021

A Bill to make provision in relation to national insurance contributions.

This Bill received Royal Assent on 14th March 2022 and was enacted into law.

Introduced: 9th March 2022

A Bill To Authorise the use of resources for the years ending with 31 March 2021, 31 March 2022 and 31 March 2023; 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 2021 and 31 March 2022.

This Bill received Royal Assent on 14th March 2022 and was enacted into law.

Introduced: 19th July 2021

A Bill to make provision about public service pension schemes, including retrospective provision to rectify unlawful discrimination in the way in which existing schemes were restricted under the Public Service Pensions Act 2013 and corresponding Northern Ireland legislation; to make provision for the establishment of new public pension schemes for members of occupational pension schemes of bodies that were brought into public ownership under the Banking (Special Provisions) Act 2008; to make provision about the remuneration and the date of retirement of holders of certain judicial offices; to make provision about judicial service after retirement; and for connected purposes

This Bill received Royal Assent on 10th March 2022 and was enacted into law.

Introduced: 2nd November 2021

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on 24th February 2022 and was enacted into law.

Introduced: 8th September 2021

A Bill to make provision about the meaning of references to Article 23A benchmarks in contracts and other arrangements; and to make provision about the liability of administrators of Article 23A benchmarks

This Bill received Royal Assent on 15th December 2021 and was enacted into law.

Introduced: 8th September 2021

A Bill to make provision imposing a tax (to be known as the health and social care levy), the proceeds of which are payable to the Secretary of State towards the cost of health care and social care, on amounts in respect of which national insurance contributions are, or would be if no restriction by reference to pensionable age were applicable, payable; and for connected purposes.

This Bill received Royal Assent on 20th October 2021 and was enacted into law.

Introduced: 12th May 2021

A Bill to provide for the payment out of money provided by Parliament of expenditure incurred by the Treasury for, or in connection with, the payment of compensation to customers of London Capital & Finance plc; provide for the making of loans to the Board of the Pension Protection Fund for the purposes of its fraud compensation functions; and for connected purposes.

This Bill received Royal Assent on 20th October 2021 and was enacted into law.

Introduced: 30th June 2021

A Bill to authorise the use of resources for the year ending with 31 March 2022; 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 2021.

This Bill received Royal Assent on 19th July 2021 and was enacted into law.

Introduced: 9th March 2021

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on 10th June 2021 and was enacted into law.

Introduced: 21st October 2020

A Bill to make provision about financial services and markets; to make provision about debt respite schemes; to make provision about Help-to-Save accounts; and for connected purposes.

This Bill received Royal Assent on 29th April 2021 and was enacted into law.

Introduced: 9th March 2021

A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.

This Bill received Royal Assent on 15th March 2021 and was enacted into law.

Introduced: 10th March 2021

A Bill to authorise the use of resources for the years ending with 31 March 2019, 31 March 2020, 31 March 2021 and 31 March 2022; to authorise the issue of sums out of the Consolidated Fund for the years ending 31 March 2020, 31 March 2021 and 31 March 2022; and to appropriate the supply authorised by this Act for the years ending with 31 March 2019, 31 March 2020 and 31 March 2021.

This Bill received Royal Assent on 15th March 2021 and was enacted into law.

Introduced: 4th February 2021

A Bill to make provision for payments to or in respect of Ministers and holders of Opposition offices on maternity leave.

This Bill received Royal Assent on 1st March 2021 and was enacted into law.

Introduced: 8th December 2020

A Bill to make provision (including the imposition and regulation of new duties of customs) in connection with goods in Northern Ireland and their movement into or out of Northern Ireland; to make provision amending certain enactments relating to value added tax, excise duty or insurance premium tax; to make provision in connection with the recovery of unlawful state aid in relation to controlled foreign companies; and for connected purposes.

This Bill received Royal Assent on 17th December 2020 and was enacted into law.

Introduced: 13th July 2020

A Bill to make provision to reduce for a temporary period the amount of stamp duty land tax chargeable on the acquisition of residential property.

This Bill received Royal Assent on 22nd July 2020 and was enacted into law.

Introduced: 9th July 2020

This Bill received Royal Assent on 22nd July 2020 and was enacted into law.

Introduced: 17th March 2020

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on 22nd July 2020 and was enacted into law.

Introduced: 24th March 2020

A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.

This Bill received Royal Assent on 25th March 2020 and was enacted into law.

Introduced: 2nd March 2020

A Bill to authorise the use of resources for the years ending with 31 March 2020 and 31 March 2021; 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 year ending with 31 March 2020.

This Bill received Royal Assent on 16th March 2020 and was enacted into law.

HM Treasury - Secondary Legislation

This Order amends the Finance Act 2004 (c. 12) by inserting a new section 236ZA. This section provides that where an individual has, at the end of the pension input period, service in a reformed public service pension scheme arrangement (“reformed arrangement”) and a public service pension scheme legacy arrangement (“legacy arrangement”) and where the opening value of the rights under the legacy arrangement exceeds the closing value of those rights, the pension input amount in respect of the reformed arrangement is to be reduced by the amount of the excess (but not below zero).
These Regulations make consequential provisions and savings following the introduction of treating self-employed earners with profits at or above the small profits threshold as having actually paid Class 2 National Insurance contributions (NICs) and removal of liability to pay Class 2 NICs.
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
9,513 Signatures
(2,088 in the last 7 days)
Petition Open
233 Signatures
(124 in the last 7 days)
Petition Open
70 Signatures
(42 in the last 7 days)
Petition Open
11,351 Signatures
(37 in the last 7 days)
Petitions with most signatures
Petition Open
11,351 Signatures
(37 in the last 7 days)
Petition Open
9,513 Signatures
(2,088 in the last 7 days)
Petition Open
2,013 Signatures
(9 in the last 7 days)
Petition Open
636 Signatures
(2 in the last 7 days)
Petition Debates Contributed

Extending the Stamp Duty Holiday for an additional 6 months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise.
This will help to stabilise the housing market

The government is helping private firms to protect jobs by paying up to 80% of staff wages through this crisis. If it can do this why can it not help key workers who will be putting themselves/their families at risk and working extra hard under extremely challenging and unprecedented circumstances.

Air pollution kills 64,000 people in the UK every year, yet the Government provides annual fossil fuel subsidies of £10.5 billion, according to the European Commission. To meet UK climate targets, the Government must end this practice and introduce charges on producers of greenhouse gas emissions.

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
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Chair since 9th November 2022
Angela Eagle Portrait
Angela Eagle (Labour - Wallasey)
Treasury Committee Member since 2nd March 2020
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 11th May 2020
Anne Marie Morris Portrait
Anne Marie Morris (Conservative - Newton Abbot)
Treasury Committee Member since 21st November 2022
Danny Kruger Portrait
Danny Kruger (Conservative - Devizes)
Treasury Committee Member since 21st November 2022
John Baron Portrait
John Baron (Conservative - Basildon and Billericay)
Treasury Committee Member since 21st November 2022
Drew Hendry Portrait
Drew Hendry (Scottish National Party - Inverness, Nairn, Badenoch and Strathspey)
Treasury Committee Member since 12th September 2023
Keir Mather Portrait
Keir Mather (Labour - Selby and Ainsty)
Treasury Committee Member since 20th November 2023
Stephen Hammond Portrait
Stephen Hammond (Conservative - Wimbledon)
Treasury Committee Member since 11th December 2023
Thérèse Coffey Portrait
Thérèse Coffey (Conservative - Suffolk Coastal)
Treasury Committee Member since 11th December 2023
Samantha Dixon Portrait
Samantha Dixon (Labour - City of Chester)
Treasury Committee Member since 11th March 2024
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

11th Mar 2024
To ask the Chancellor of the Exchequer, what steps his Department is taking to help increase the level of average savings of households.

The government’s plan is working, with inflation down and growth forecast to improve. This allowed the government, at Spring Budget 2024, to cut taxes further for working people. These are the most important things that the government can do to support households to save.

At Spring Budget 2024, the Chancellor also set out further measures to support and encourage a savings culture across the UK and increase opportunities for people to save for the longer term. This included launching a consultation to introduce a new UK ISA with a £5,000 allowance for investments in UK assets and funds, in addition to the existing £20,000 ISA allowance, and the launch of British Savings Bonds, delivered through National Savings & Investment.

These measures sit alongside existing policies such as Help to Save, which supports people on low incomes to save, and the Lifetime ISA, which supports people to save for a first home or later life

The retail savings market currently offers a range of options to savers, who can access competitive rates on a variety of instant access and fixed-term products.

Bim Afolami
Economic Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, with reference to paragraph 5.121, page 99 of the Autumn Statement 2023, what his planned timetable is for publishing a consultation on introducing a UK regime for captive insurance companies; what discussions his Department has had with the (a) Prudential Regulation Authority and (b) Financial Conduct Authority on the potential introduction of a captive insurance regime; and what recent assessment his Department has made of the potential merits of introducing such a regime.

As announced at Autumn Statement, the Government will consult on the design of a new framework for encouraging the establishment and growth of captive insurance companies in the UK. The consultation will launch in Spring 2024.

The consultation will test views on proposals to introduce an attractive and competitive new UK captive insurance regime that works for businesses. Key to this will also be proportionate regulation that maintains the UK’s high regulatory standards.

The Treasury will continue to work closely with the independent regulators as it considers the case for a UK captives framework.

Bim Afolami
Economic Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, how many active registered financial advisers there are; how many such advisers there were in 2014; and what assessment the Financial Conduct Authority has made of the causes of changes in the levels of such advisers.

HM Treasury works closely with the Financial Conduct Authority (FCA) to ensure that the market works well, competitively and fairly for both firms and consumers, and that the advice being provided is of high quality.

HM Treasury sets the legislative framework for financial services, including financial advice, and regulation of the sector is the responsibility of the independent FCA. Their rules require advice firms to understand the essential facts about their client’s investment objectives, risk tolerance, and ability to bear losses before making a recommendation. The FCA’s Consumer Duty also applies, which requires regulated firms to avoid foreseeable harm and support their customers to pursue their financial objectives.

In 2020, the FCA published an evaluation of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) – significant interventions to improve the quality of financial advice. This found that the reviews enhanced the offering available to consumers and increased trust in the investment industry. It also found a small increase in the number of advisers in the market from approximately 35,000 to 36,400 between 2012 and 2019.

The Government recognises continued concerns regarding the accessibility and cost of advice and has launched a review, alongside the FCA, of the regulatory boundary between financial guidance and financial advice. The review seeks to create a regulatory system where commercially viable, high-quality models of support can emerge for consumers at all life stages. HM Treasury and the FCA published a joint policy paper in December 2023 outlining initial proposals for reform and are currently considering the feedback provided by industry and consumer groups.

Bim Afolami
Economic Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, how many small financial advice firms the Financial Conduct Authority has visited in the last 12 months; and for what reasons.

HM Treasury works closely with the Financial Conduct Authority (FCA) to ensure that the market works well, competitively and fairly for both firms and consumers, and that the advice being provided is of high quality.

HM Treasury sets the legislative framework for financial services, including financial advice, and regulation of the sector is the responsibility of the independent FCA. Their rules require advice firms to understand the essential facts about their client’s investment objectives, risk tolerance, and ability to bear losses before making a recommendation. The FCA’s Consumer Duty also applies, which requires regulated firms to avoid foreseeable harm and support their customers to pursue their financial objectives.

In 2020, the FCA published an evaluation of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) – significant interventions to improve the quality of financial advice. This found that the reviews enhanced the offering available to consumers and increased trust in the investment industry. It also found a small increase in the number of advisers in the market from approximately 35,000 to 36,400 between 2012 and 2019.

The Government recognises continued concerns regarding the accessibility and cost of advice and has launched a review, alongside the FCA, of the regulatory boundary between financial guidance and financial advice. The review seeks to create a regulatory system where commercially viable, high-quality models of support can emerge for consumers at all life stages. HM Treasury and the FCA published a joint policy paper in December 2023 outlining initial proposals for reform and are currently considering the feedback provided by industry and consumer groups.

Bim Afolami
Economic Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, how many regulations governing the financial advice sector there are; how many there were in 2014; and what assessment the Financial Conduct Authority has made of the potential impact of changes in the level of such regulations on the work of the sector.

HM Treasury works closely with the Financial Conduct Authority (FCA) to ensure that the market works well, competitively and fairly for both firms and consumers, and that the advice being provided is of high quality.

HM Treasury sets the legislative framework for financial services, including financial advice, and regulation of the sector is the responsibility of the independent FCA. Their rules require advice firms to understand the essential facts about their client’s investment objectives, risk tolerance, and ability to bear losses before making a recommendation. The FCA’s Consumer Duty also applies, which requires regulated firms to avoid foreseeable harm and support their customers to pursue their financial objectives.

In 2020, the FCA published an evaluation of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) – significant interventions to improve the quality of financial advice. This found that the reviews enhanced the offering available to consumers and increased trust in the investment industry. It also found a small increase in the number of advisers in the market from approximately 35,000 to 36,400 between 2012 and 2019.

The Government recognises continued concerns regarding the accessibility and cost of advice and has launched a review, alongside the FCA, of the regulatory boundary between financial guidance and financial advice. The review seeks to create a regulatory system where commercially viable, high-quality models of support can emerge for consumers at all life stages. HM Treasury and the FCA published a joint policy paper in December 2023 outlining initial proposals for reform and are currently considering the feedback provided by industry and consumer groups.

Bim Afolami
Economic Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the number of financial advisers in relation to the demand for financial advice from consumers (a) now and (b) in the future.

HM Treasury works closely with the Financial Conduct Authority (FCA) to ensure that the market works well, competitively and fairly for both firms and consumers, and that the advice being provided is of high quality.

HM Treasury sets the legislative framework for financial services, including financial advice, and regulation of the sector is the responsibility of the independent FCA. Their rules require advice firms to understand the essential facts about their client’s investment objectives, risk tolerance, and ability to bear losses before making a recommendation. The FCA’s Consumer Duty also applies, which requires regulated firms to avoid foreseeable harm and support their customers to pursue their financial objectives.

In 2020, the FCA published an evaluation of the Retail Distribution Review (RDR) and the Financial Advice Market Review (FAMR) – significant interventions to improve the quality of financial advice. This found that the reviews enhanced the offering available to consumers and increased trust in the investment industry. It also found a small increase in the number of advisers in the market from approximately 35,000 to 36,400 between 2012 and 2019.

The Government recognises continued concerns regarding the accessibility and cost of advice and has launched a review, alongside the FCA, of the regulatory boundary between financial guidance and financial advice. The review seeks to create a regulatory system where commercially viable, high-quality models of support can emerge for consumers at all life stages. HM Treasury and the FCA published a joint policy paper in December 2023 outlining initial proposals for reform and are currently considering the feedback provided by industry and consumer groups.

Bim Afolami
Economic Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, how many prosecutions for money laundering offences HM Revenue and Customs brought against individuals in each year since 2013; and how many of those prosecutions resulted in a conviction in each of those years.

I refer the right hon. Member for Barking to the answer I gave on 11 March 2024 to Question UIN 16576 .

Bim Afolami
Economic Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, what estimate his Department has made of the number of prosecutions that have been made against the promoters and operators of schemes now subject to the Loan Charge.

I refer the hon. Member for Hendon to the answer given on 8 February 2024 to Question UIN 12466.

Bim Afolami
Economic Secretary (HM Treasury)
13th Mar 2024
To ask the Chancellor of the Exchequer, whether his Department has conducted recent distributional analysis of the impact of inflation on people in different income brackets.

The Office for National Statistics (ONS) publish experimental statistics which show the inflation experienced by households across the income distribution:

https://www.ons.gov.uk/economy/inflationandpriceindices/bulletins/householdcostsindicesforukhouseholdgroups/latest

Bim Afolami
Economic Secretary (HM Treasury)
13th Mar 2024
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on pensioners' finances.

The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.

Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.

Nigel Huddleston
Financial Secretary (HM Treasury)
13th Mar 2024
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on funding for state pensions.

The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.

Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.

Nigel Huddleston
Financial Secretary (HM Treasury)
13th Mar 2024
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance Contributions on determining eligibility criteria for the state pension.

The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.

Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.

Nigel Huddleston
Financial Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, what the destinations were of domestic overnight visits undertaken by Ministers within their Department in each of the last three financial years.

The Government publishes on GOV.UK details of the cost of overseas Ministerial travel, including costs of travel, and on other costs (visas, accommodation, meals).

But as has been the case under successive administrations, the Government does not publish granular detail on Ministers’ travel at home or abroad.

Gareth Davies
Exchequer Secretary (HM Treasury)
13th Mar 2024
To ask the Chancellor of the Exchequer, what progress the Financial Sanctions Implementation Office has made on establishing the foundation to manage and distribute monies from the proceeds of the sale of Chelsea FC.

The proceeds from the sale of Chelsea FC are currently frozen in a UK bank account while independent experts establish a foundation to manage and distribute the money. A licence from the Office of Financial Sanctions Implementation will then be needed to move the funds to the foundation. We are working hard to reach an arrangement that delivers this money to humanitarian causes in Ukraine as quickly as possible.

Bim Afolami
Economic Secretary (HM Treasury)
6th Mar 2024
To ask His Majesty's Government, further to reports that retail sales and consumer spending rose at the slowest pace in February since 2022, what steps they are taking to address any challenges resulting from slow growth.

The government is delivering its plan for growth and is backing British businesses.

The IMF forecasts that the UK will have the third fastest cumulative growth in the G7 during 2024-2028.Therefore, with the economy beginning to turn a corner, we are now able to make responsible tax cuts to boost growth while meeting the fiscal rules to ensure sustainable public finances. This includes cutting the employee main rate of National Insurance to 8% which, will make an average worker on £35,400 over £900 a year better off than before. This means more money in people’s pockets, helping to increase disposable income and consumer confidence.

Government continues to back retailers. At Autumn Statement 2023 we extended Retail, Hospitality and Leisure relief for 2024-5, a tax cut worth £2.4 billion, and froze the small business multiplier for a fourth consecutive year. At Spring Budget 2024, the government went further still by supporting small retailers by increasing the VAT registration threshold to £90,000 and extending the Recovery Loan Scheme, now the Growth Guarantee Scheme.

Combined, these measures will place more money in people’s pockets, boost consumer confidence, and help strengthen the UK’s retail sector.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
1st Mar 2024
To ask His Majesty's Government whether customs paperwork is needed for goods moving from Great Britain to Northern Ireland via the UK Internal Market Scheme.

The UK Internal Market Scheme (UKIMS) replaced the UK Trader Scheme on 30 September 2023, allowing a much wider range of businesses to move goods into Northern Ireland under the existing ‘not at risk’ arrangements, with over 3,000 new businesses now authorised.

From 30 September 2024, these traders will also be able to benefit from the new simplified processes for UK internal market movements which will scrap burdensome supplementary declarations and use a much shorter, simpler dataset containing standard commercial information.

The specific information to be provided in respect of UKIMS authorisation is set out on GOV.UK[1].

[1] https://www.gov.uk/guidance/apply-for-authorisation-for-the-uk-internal-market-scheme-if-you-bring-goods-into-northern-ireland

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
1st Mar 2024
To ask His Majesty's Government what specific information must be provided for authorisation to access the UK Internal Market Scheme, and whether this includes information to be declared “for customs purposes” in accordance with Article 9(2) of a Joint Committee Decision No 1/2023.

The UK Internal Market Scheme (UKIMS) replaced the UK Trader Scheme on 30 September 2023, allowing a much wider range of businesses to move goods into Northern Ireland under the existing ‘not at risk’ arrangements, with over 3,000 new businesses now authorised.

From 30 September 2024, these traders will also be able to benefit from the new simplified processes for UK internal market movements which will scrap burdensome supplementary declarations and use a much shorter, simpler dataset containing standard commercial information.

The specific information to be provided in respect of UKIMS authorisation is set out on GOV.UK[1].

[1] https://www.gov.uk/guidance/apply-for-authorisation-for-the-uk-internal-market-scheme-if-you-bring-goods-into-northern-ireland

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, how many research projects have started work in the HMRC datalab in each year since 2013.

HMRC Datalab have provided 106 projects access to de-identified HMRC data for research purposes, since 2012.

Nigel Huddleston
Financial Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, if he will announce a timeline for a decision on whether additional measures will be introduced to further support mortgage prisoners.

The Government understands that being unable to switch your mortgage can be extremely stressful. Alongside the Financial Conduct Authority and industry, we have shown we are willing to act through the introduction of a ‘modified affordability assessment’, which removes the regulatory barriers that prevented some customers, who otherwise may have been able to switch, from accessing new products. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group.

The Government remains committed to this issue and will continue to work with industry and wider stakeholders to determine if there are proposals that will meaningly benefit affected borrowers and be fair to other borrowers in the wider market.

Bim Afolami
Economic Secretary (HM Treasury)
12th Mar 2024
To ask the Chancellor of the Exchequer, what recent steps he has taken to support homeowners who are unable to switch to a cheaper mortgage deal.

The Government understands that being unable to switch your mortgage can be extremely stressful. Alongside the Financial Conduct Authority and industry, we have shown we are willing to act through the introduction of a ‘modified affordability assessment’, which removes the regulatory barriers that prevented some customers, who otherwise may have been able to switch, from accessing new products. We are also regularly in contact with key stakeholders, including recently with the UK Mortgage Prisoners campaign group.

The Government remains committed to this issue and will continue to work with industry and wider stakeholders to determine if there are proposals that will meaningly benefit affected borrowers and be fair to other borrowers in the wider market.

Bim Afolami
Economic Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, with reference to paragraph 2.20 of the Spring Budget 2024, HC 560, if he will take steps to ensure the (a) governance and (b) accountability of the £3.4 billion allocated to the NHS.

The Government and NHS England have been working closely together on plans to improve productivity following the publication of the Long Term Workforce Plan last summer, including on the announcement last week of £3.4bn additional investment allowing the NHS to commit to a significant increase in productivity growth.

This investment will continue to remain subject to close work between Government and NHS, recognising its importance for ensuring the NHS’s sustainability and ability to deliver better outcomes for patients.

To support delivery of the productivity programme, Spring Budget also highlighted that an external expert advisory panel will be convened to ensure that technological and digital transformation plans have the support and challenge to deliver on its goals, with NHS England also starting reporting against new productivity metrics regularly from the second half of 2024-25. Further detail will be set out in due course

Laura Trott
Chief Secretary to the Treasury
7th Mar 2024
To ask the Chancellor of the Exchequer, whether he made an assessment with Cabinet colleagues of the potential merits of increasing funding for local government in the Spring Budget 2024.

The Chancellor and Chief Secretary hold regular discussions with Cabinet colleagues on spending priorities for fiscal events.

Local councils play an essential role in the fabric of our country – providing services which we all rely on and supporting some of the most vulnerable people in our communities.

That is why the final Local Government Finance Settlement for 2024-25 makes available up to £64.7 billion in total for local authorities in England, which includes the £600 million of additional measures that was announced on 24 January in response to representations from local government stakeholders. This is an increase in overall Core Spending Power of 7.5%, or up to £4.5 billion, on 2023-24, an above-inflation increase.

The Government is continuing to support all councils by providing a sector-wide Funding Guarantee, ensuring all local authorities see a minimum 4% increase in Core Spending Power before local council tax decisions.

Laura Trott
Chief Secretary to the Treasury
7th Mar 2024
To ask the Chancellor of the Exchequer, whether he made an assessment with Cabinet colleagues of the potential merits of increasing funding for (a) social care and (b) the Better Care Fund in the Spring Budget 2024.

The Chancellor and Chief Secretary hold regular discussions with Cabinet colleagues on spending priorities for fiscal events.

The government has now made available up to £8.6bn in additional funding over this financial year and next to support adult social care and discharge. This includes £500m announced in January which has specifically been made available to support local authorities with the cost of social care in 2024-25 in response to representations from local government stakeholders. This funding will enable local authorities to buy more care packages, help people leave hospital on time, improve workforce recruitment and retention, and reduce waiting times for care.

Laura Trott
Chief Secretary to the Treasury
7th Mar 2024
To ask the Chancellor of the Exchequer, whether he made an assessment with Cabinet colleagues of the potential merits of increasing funding for SEND provision in the Spring Budget 2024.

The Chancellor and Chief Secretary hold regular discussions with Cabinet colleagues on spending priorities for fiscal events.

Spring Budget 2024 committed to an initial £105 million over the next four years towards a wave of 15 special free schools. This will create over 2,000 additional high-quality places across England for children with special educational needs and disabilities (SEND).

In the 2024/25 financial year, high needs revenue funding is rising to over £10.5 billion, an increase of over 60% from 2019/20. We also published the SEND and alternative provision improvement plan last year, which set out our plans to reform the system so that children and young people with SEND will get high-quality, early support wherever they live in the country.

Laura Trott
Chief Secretary to the Treasury
7th Mar 2024
To ask His Majesty's Government how many businesses are expected to benefit from raising of the threshold for VAT exemption from £85,000 to £90,000 per annum.

It is expected that 28,000 fewer businesses will need to be VAT registered in 2024 to 2025, and 14,000 fewer on average from 2024 to 2025 to 2028 to 2029.

This information can be found in HM Revenue & Customs’ publication: ‘VAT: increasing the registration and deregistration thresholds’, published 7 March 2024.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, if he will take steps to incentivise pension funds to invest in the UK.

The Government is taking steps to strengthen capital markets, boost savings, increase pension fund transparency and facilitate investment in UK companies. Building on the announcements at Mansion House and Autumn Statement, at Spring Budget the Chancellor announced further measures incentivise pension funds to invest in the UK.

This includes introducing new requirements for DC and local government pension funds to disclose publicly their level of international and UK equity investments, and DC funds will be required to compare their performance against their largest competitors. We will then consider what further action should be taken if we are not on a positive trajectory.

These measures are to ensure that pension managers are focused on securing good returns for savers, rather than focused on driving down management fees at the expense of long-term performance.

Bim Afolami
Economic Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, if he will publish the (a) Public Sector Productivity Programme and (b) NHS productivity plan.

The government published detail on the Public Sector Productivity Programme in the Spring Budget. This included the announcement of £4.2 billion to drive productivity in the NHS and the wider public sector, and a separate document, Seizing the Opportunity, that outlined work to date across government to improve efficiency and productivity in counter-fraud, procurement, project management, asset management and digital transformation.

Laura Trott
Chief Secretary to the Treasury
11th Mar 2024
To ask the Chancellor of the Exchequer, whether he has plans to remove the corporate opt-out for cross-border payments pricing disclosures.

The UK’s legislative framework for payment services, including cross-border payments, places various disclosure requirements on payment firms. This includes the ability to opt out of disclosures for certain corporates, where both parties agree.

This legislation derives from EU law, which will be replaced under the government’s Smarter Regulatory Framework programme. Under this, it is intended that government legislation will set the framework within which the regulators will operate. In general, firm-facing requirements, such as these cross-border disclosures, will be determined by the relevant regulator (in this case, the FCA).

Bim Afolami
Economic Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, how many voluntary donations have been paid to the Government in each of the last 20 years; and what the total amount paid in voluntary donations is over that time period.

HM Treasury received a total of 137 voluntary donations for a total of £4,111,587.79 from January 2003 up to 13th March 2024. The breakdown for each year is in the table below.

Calendar year

No. of donations

Value of donations

2003

4

£3,103.00

2004

7

£97,518.13

2005

1

£5.00

2006

7

£821,669.41

2007

3

£4,270.66

2008

4

£5,411.17

2009

7

£452,208.81

2010

7

£972,621.71

2011

7

£60,657.19

2012

1

£670.00

2013

1

£99,423.00

2014

0

-

2015

0

-

2016

2

£47,078.41

2017

3

£92,847.53

2018

1

£800.00

2019

3

£65,000.00

2020

1

£1,193,875.76

2021

10

£13,334.00

2022

29

£150,120.55

2023

38

£28,212.26

2024 (to 13th Mar)

1

£2,761.20

TOTAL

137

£4,111,587.79

Nigel Huddleston
Financial Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, what steps he plans to take with Cabinet colleagues to help tackle the trade in illicit vapes, in the context of the introduction of duties on vapes at the Spring Budget 2024.

Proposals for a Vaping Products Duty which will come in force from October 2026 are set out in the consultation here: https://www.gov.uk/government/consultations/vaping-products-duty-consultation

These include measures to tackle non-compliance, including:

  • Declaration and payments via digital channels to minimise fraud and error.
  • The introduction of civil and criminal powers for HMRC to assess for duty, seize products and equipment/vehicles used to produce or transport illicit product.
  • Penalties for those who do not meet their obligations.

HMRC will collaborate and share intelligence with agencies such as Border Force and Trading Standards, who will have enhanced their capabilities around vaping by the time the duty is introduced.

HMRC also intends to recruit operational staff to enforce the duty, integrating with existing tobacco compliance teams and building on HMRC’s recent success in driving down the tobacco tax gap. This success includes reducing the illicit trade for hand-rolling tobacco from 65.2% in 2005 to 33.5% in 2021/22 and for cigarettes from 16.9% to 11% over the same period.

Gareth Davies
Exchequer Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, with reference to the Spring Budget 2024, HC 560, published on 6 March 2024, whether he made an assessment with the Secretary of State for Health and Social Care of the potential impact of freezing alcohol duty on public health.

Treasury ministers and officials regularly engage with the Department of Health and Social Care on a variety of issues, including alcohol policy.

The Treasury also engaged extensively with external stakeholders and other Government departments, including the Department of Health and Social Care, as part of the policy development and delivery process for the new alcohol reforms.

The Government has delivered on its commitment to review the outdated and complex alcohol duty system and introduced the biggest reform of alcohol duties for over 140 years. From 1 August 2023, all alcoholic products are now taxed by strength.

Gareth Davies
Exchequer Secretary (HM Treasury)
6th Mar 2024
To ask the Chancellor of the Exchequer, what assessment he has made of the potential merits of raising the luxury vehicles tax threshold for electric vehicles.

As with all taxes, the Government keeps the Expensive Car Supplement under review, and any changes will be announced at a future fiscal event.

Gareth Davies
Exchequer Secretary (HM Treasury)
29th Feb 2024
To ask His Majesty's Government whether they have sole responsibility for regulating Northern Ireland VAT or whether the EU has any authority relating to VAT matters in Northern Ireland.

The arrangements in Northern Ireland under the Windsor Framework guarantee Northern Ireland’s position within the UK’s VAT area. The freedoms secured under the Windsor Framework have already delivered benefits for NI people and businesses, including the application of zero rates on the installation of energy-saving materials and the UK-wide application of the changes agreed at Autumn Statement 2023, such as the removal of VAT on period underwear. All the VAT and excise measures announced at Spring Budget 2024 apply UK-wide.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, with reference to paragraph 5.81 of the Autumn Statement 2023, published in November 2023, what his planned timetable is to open the consultation on the VAT treatment of private hire vehicles.

As announced at Spring Budget, the Government will launch the consultation on the impacts of the July 2023 High Court ruling in Uber Britannia Ltd v Sefton MBC in April.

Nigel Huddleston
Financial Secretary (HM Treasury)
8th Mar 2024
To ask the Chancellor of the Exchequer, if he will allow fractional shares to be included in ISAs.

The government is committed to ensuring people have the opportunity to invest in a diverse range of investment types through their ISAs. As announced at Autumn Statement 2023 and confirmed at Spring Budget 2024, this includes certain fractional share contracts.

The government is working as quickly as possible to bring forward legislation to include certain fractional share contracts in ISAs by the end of the summer following detailed engagement with industry and the FCA.

The government is also consulting on the design and implementation of the UK ISA, including eligible investments, and welcomes responses from stakeholders before the deadline of 6th June.

Bim Afolami
Economic Secretary (HM Treasury)
8th Mar 2024
To ask the Chancellor of the Exchequer, if he will take steps to allow fractional shares to be included in the new British ISA.

The government is committed to ensuring people have the opportunity to invest in a diverse range of investment types through their ISAs. As announced at Autumn Statement 2023 and confirmed at Spring Budget 2024, this includes certain fractional share contracts.

The government is working as quickly as possible to bring forward legislation to include certain fractional share contracts in ISAs by the end of the summer following detailed engagement with industry and the FCA.

The government is also consulting on the design and implementation of the UK ISA, including eligible investments, and welcomes responses from stakeholders before the deadline of 6th June.

Bim Afolami
Economic Secretary (HM Treasury)
8th Mar 2024
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of allowing investors to invest in fractional shares.

The government is committed to ensuring people have the opportunity to invest in a diverse range of investment types through their ISAs. As announced at Autumn Statement 2023 and confirmed at Spring Budget 2024, this includes certain fractional share contracts.

The government is working as quickly as possible to bring forward legislation to include certain fractional share contracts in ISAs by the end of the summer following detailed engagement with industry and the FCA.

The government is also consulting on the design and implementation of the UK ISA, including eligible investments, and welcomes responses from stakeholders before the deadline of 6th June.

Bim Afolami
Economic Secretary (HM Treasury)
8th Mar 2024
To ask the Chancellor of the Exchequer, whether he has had recent discussions with the Financial Conduct Authority on including fractional shares in ISAs.

The government is committed to ensuring people have the opportunity to invest in a diverse range of investment types through their ISAs. As announced at Autumn Statement 2023 and confirmed at Spring Budget 2024, this includes certain fractional share contracts.

The government is working as quickly as possible to bring forward legislation to include certain fractional share contracts in ISAs by the end of the summer following detailed engagement with industry and the FCA.

The government is also consulting on the design and implementation of the UK ISA, including eligible investments, and welcomes responses from stakeholders before the deadline of 6th June.

Bim Afolami
Economic Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, how many applications for R&D tax credits were outstanding in each month in 2023.

HMRC publish R&D statistics annually, the latest publication can be found on Gov.uk at Research and Development Tax Credits Statistics: September 2023.

Nigel Huddleston
Financial Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, how many applications for R&D tax credits were approved in each month in 2023.

HMRC publish R&D statistics annually, the latest publication can be found on Gov.uk at Research and Development Tax Credits Statistics: September 2023.

Nigel Huddleston
Financial Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, how many applications for R&D tax credits were denied in each month in 2023.

HMRC publish R&D statistics annually, the latest publication can be found on Gov.uk at Research and Development Tax Credits Statistics: September 2023.

Nigel Huddleston
Financial Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, what recent representations has he received on section 684 notices.

In May 2022, the Court of Appeal confirmed that HMRC could use provisions in tax legislation (section 684(7A)(b) of the Income Tax (Earnings and Pensions) Act 2003). HMRC is using these provisions in line with the Court of Appeal judgment.

The Government has received representations about s684(7A)(b) from several Members on behalf of their constituents, as well as the All Party Parliamentary Group on the Loan Charge and Taxpayer Fairness.

Nigel Huddleston
Financial Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, whether he plans to make the assets of non-domiciled UK residents subject to inheritance tax.

From April 2025, the government will abolish the current tax regime for non-UK domiciled individuals, or non-doms, and get rid of the outdated concept of domicile in the tax system, replacing this with a modern, simpler, fairer and competitive residence-based regime.

The government will also move to a residence-based regime for Inheritance Tax (IHT) and will consult in due course on the best way to achieve this. No changes to IHT will take effect before April 2025.

Further information can be found in the published technical note: https://www.gov.uk/government/publications/changes-to-the-taxation-of-non-uk-domiciled-individuals.

Nigel Huddleston
Financial Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, with reference to his Financial Statement from 6 March 2024, Official Report, column 851, whether his Department has made an assessment of potential alternative funding mechanisms for the State Pension.

The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.

Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.

Nigel Huddleston
Financial Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, whether his Department has made an assessment of the potential impact of abolishing national insurance contributions on state pension entitlements.

The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.

Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.

Nigel Huddleston
Financial Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, what discussions he has had with the Secretary of State for Work and Pensions on the potential impact of abolishing National Insurance contributions on (a) calculating and (b) accounting pension entitlements.

The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.

Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.

Nigel Huddleston
Financial Secretary (HM Treasury)
7th Mar 2024
To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential impact of abolishing National Insurance contributions on how qualifying years for pension entitlement would be (a) calculated and (b) accounted.

The Government believes the double taxation of work is unfair. That is why we’ve cut 4p from employee NICs in the last six months which will mean the average worker receives a tax cut worth £900 this coming year and why we are committed to ending this unfairness.

Cutting NICs rates does not affect anyone’s entitlement to the State Pension or contributory benefits.

Nigel Huddleston
Financial Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential impact of increasing landfill tax on the prevalence of waste crime.

At Spring Budget 2024, the government announced that Landfill Tax rates in England and Northern Ireland will be adjusted from 1 April 2025. This will restore their value following a period of high inflation which was not foreseen by the OBR when rates were pre-announced.

The government remains committed to tackling waste crime which is a blight on local communities, harms the environment and undermines legitimate businesses operating in the sector.

The government agreed with the Public Accounts Committee’s recommendation that the current ongoing review of Landfill Tax takes account of incentives to commit waste crime. Alongside this, DEFRA has announced the introduction of digital waste tracking from 2025 and reform of the licensing system, whilst multi-agency enforcement action through the Joint Unit for Waste Crime continues to disrupt criminal activity in the sector.

Gareth Davies
Exchequer Secretary (HM Treasury)
11th Mar 2024
To ask the Chancellor of the Exchequer, how many fraudulent payments of what total value were recovered by the Taxpayer Protection Taskforce.

In December 2023, HMRC wrote a letter to the chair of the Committee of Public Accounts with the latest information on HMRC’s compliance activity on the COVID-19 support schemes up to the end of September 2023, when the Taxpayer’s Protection Taskforce transitioned into business-as-usual.

Nigel Huddleston
Financial Secretary (HM Treasury)