HM Treasury

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



Secretary of State

 Portrait

Rachel Reeves
Chancellor of the Exchequer

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

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

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

Liberal Democrat
Charlie Maynard (LD - Witney)
Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)
Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)
Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
There are no upcoming events identified
Debates
Thursday 26th March 2026
Select Committee Inquiry
Tuesday 31st January 2023
Quantitative tightening

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

Written Answers
Friday 27th March 2026
Treasury: Ministers' Private Offices
To ask the Chancellor of the Exchequer, what the average staffing complement is for a ministerial private office within their …
Secondary Legislation
Thursday 26th March 2026
Taxes (Interest Rate) (Amendment) Regulations 2026
These Regulations amend the Taxes (Interest Rate) Regulations 1989/1297 (“1989 Regulations”). The 1989 regulations specify rates of interest for the …
Bills
Wednesday 4th March 2026
Supply and Appropriation (Anticipation and Adjustments) Act 2026
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and …
Dept. Publications
Thursday 26th March 2026
17:58

HM Treasury Commons Appearances

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

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

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

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

Most Recent Commons Appearances by Category
Mar. 10
Oral Questions
Mar. 26
Written Statements
Mar. 19
Westminster Hall
Feb. 12
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

HM Treasury does not have Bills currently before Parliament


Acts of Parliament created in the 2024 Parliament

Introduced: 2nd December 2025

A Bill to make provision in connection with finance.

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

Introduced: 4th March 2026

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

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

Introduced: 25th June 2025

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

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

Introduced: 13th November 2024

A Bill to make provision about secondary Class 1 contributions.

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

Introduced: 6th November 2024

A Bill to make provision about finance.

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

Introduced: 25th July 2024

A Bill to amend the Crown Estate Act 1961.

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

Introduced: 5th March 2025

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

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

Introduced: 6th November 2024

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

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

Introduced: 18th July 2024

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

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

Introduced: 24th July 2024

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

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

HM Treasury - Secondary Legislation

These Regulations amend the Taxes (Interest Rate) Regulations 1989/1297 (“1989 Regulations”). The 1989 regulations specify rates of interest for the purposes of the enactments specified in section 178(2) of the Finance Act 1989 (c. 26). The amendments made by these Regulations specify the applicable rates of interest for unpaid and overpaid amounts of multinational top-tax and domestic top-up tax.
This Order modifies section 4A of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (“SSCB(NI)A”) in consequence of the insertion of Chapter 11 of Part 2 of the Income Tax (Earnings and Pensions) Act 2003 (“ITEPA 2003”) by the Finance Act 2026.
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 Debates Contributed

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

154,007
Petition Closed
13 May 2025
closed 10 months, 2 weeks ago

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

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

View All HM Treasury Petitions

Departmental Select Committee

Treasury Committee

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

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

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


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

50 most recent Written Questions

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

18th Mar 2026
To ask the Chancellor of the Exchequer, whether the Northern Ireland Executive has the ability to create an energy support scheme for users of home heating oil with funding from the UK government, announced in the Autumn budget.

Spending classed as Annually Managed Expenditure will be provided to Northern Ireland to develop a comparable scheme to that developed in GB.

It is for the Northern Ireland Executive to decide how they would like to deliver a comparable offer. The UK Government is ready to review the business case once it has been submitted by the Northern Ireland Executive.

James Murray
Chief Secretary to the Treasury
19th Mar 2026
To ask the Chancellor of the Exchequer, what steps HM Treasury is taking to ensure regulatory co-operation with Spain supports UK-based exporters.

This Government is committed to a deep and enduring partnership with Spain – a partnership which we were pleased to strengthen through agreeing a strategic bilateral framework in September. This Government is also committed to supporting British businesses exporting to Spain and other European markets. During the Chancellor’s recent visit to Madrid, we agreed practical steps with Spain to make it easier for UK services professionals to travel to Spain, which could be worth around £250 million in additional UK services exports over five years.

This Government recognises the strategic imperative for deeper integration between the UK and EU – which shapes much of Spain’s regulatory regime – to strengthen resilience in the economy and stabilise trading conditions for businesses. As the Chancellor set out in her Mais lecture on 17 March, we will pursue an enhanced partnership with the EU to strengthen supply chains and reduce unnecessary frictions for businesses operating in European markets. This will include closer alignment with EU regulation where it is in the UK’s national interest.

The Government is also strengthening engagement with business on EU regulatory issues, and we are exploring how the UK and EU can work together more effectively on shared ambitions to reduce administrative burdens on business, consistent with the UK commitment to cut the administrative burden of regulation by 25% by the end of this Parliament.

Lucy Rigby
Economic Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, what discussions her Department has had with the Bank of England on the removal of historic figures from UK bank notes.

As set out in the Memorandum of Understanding between HM Treasury and the Bank of England, the Bank of England is entirely responsible for the design, production, issue and distribution of banknotes. HM Treasury has not discussed images for banknote design with the Bank of England.

Lucy Rigby
Economic Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, whether HM Treasury has held discussions with international partners on the use of sanctions in response to reported serious human rights abuses in Hong Kong prisons.

The Foreign, Commonwealth & Development Office is responsible for overall policy and the development of sanctions measures, and the UK’s response to international human rights abuses. This includes sanctions under the UK’s Global Human Rights sanctions regime.

HM Treasury has regular discussions with international partners on a range of multilateral issues.

Lucy Rigby
Economic Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, whether the Bank of England still has a sitting Banknote Character Advisory Committee.

The Banknote Character Advisory Committee, whose members had a five-year term starting in 2015, advised the Governor of the Bank of England on the choice of field and character for the current £20 and £50 banknotes.

In July 2025 the Bank of England asked the public for their views on what the theme should be for the next series of banknotes. The Bank of England decided the theme for the next series of banknotes based on the feedback from this public consultation and focus groups.

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

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

Lucy Rigby
Economic Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, with reference to her Department’s press release entitled Chancellor and Energy Secretary meet with fuel bosses in No11 as government order crackdown on pump prices, published on 13 March 2026, what analysis her Department has undertaken of the time taken by fuel retailers to pass on decreases in wholesale fuel costs to motorists.

At Budget, the Chancellor confirmed the new FuelFinder service, which is now operational and will give consumers clear, real-time information so that they can find the cheapest fuel available.

The Chancellor has written to Sarah Cardell, Chief Executive of the CMA, expressing support for the CMA’s work to ensure customers are not affected by undue price rises, including for road fuel. See the letter here: Letter to the CMA on vigilance for unjustifiable price increases.

James Murray
Chief Secretary to the Treasury
18th Mar 2026
To ask the Chancellor of the Exchequer, with reference to her Department’s press release entitled Chancellor and Energy Secretary meet with fuel bosses in No11 as government order crackdown on pump prices, published on 13 March 2026, what analysis her Department has undertaken of the time taken by fuel retailers to pass on increases in wholesale fuel costs to motorists.

At Budget, the Chancellor confirmed the new FuelFinder service, which is now operational and will give consumers clear, real-time information so that they can find the cheapest fuel available.

The Chancellor has written to Sarah Cardell, Chief Executive of the CMA, expressing support for the CMA’s work to ensure customers are not affected by undue price rises, including for road fuel. See the letter here: Letter to the CMA on vigilance for unjustifiable price increases.

James Murray
Chief Secretary to the Treasury
19th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the fiscal implications of joint defence financing arrangements with Finland and the Netherlands.

Last week the Chancellor announced that the UK is exploring a new defence mechanism for financing driving joint demand by 2027 with the Netherlands and Finland and other EU and NATO partners.

This is still in development with partners and will follow best international practice and relevant HM Government Guidance, including Managing Public Money.

James Murray
Chief Secretary to the Treasury
19th Mar 2026
To ask the Chancellor of the Exchequer, what measures are in place to ensure value for money in joint defence financing arrangements with Finland and the Netherlands.

Last week the Chancellor announced that the UK is exploring a new defence mechanism for financing driving joint demand by 2027 with the Netherlands and Finland and other EU and NATO partners.

This is still in development with partners and will follow best international practice and relevant HM Government Guidance, including Managing Public Money.

James Murray
Chief Secretary to the Treasury
18th Mar 2026
To ask the Chancellor of the Exchequer, what Barnett consequentials will be generated for the Scottish government by (a) grants awarded to local authorities in England to address SEND deficits announced in the written statement entitled Local Government Finance Settlement 2026-27 to 2028-29, published on 9 February 2026, HCWS1315, and (b) additional funding for SEND announced in the Spring Statement.

At Spring Forecast 2026 it was confirmed that the Scottish Government will receive £533 million Barnett consequentials in 2026-27, through the application of the Barnett formula to the grants for Local Authorities to address SEND deficits in England.

The Barnett formula applies mechanically to new funding for the Department for Education in 2028-29, to support reforms of the SEND system. This results in an additional £362 million for the Scottish Government in 2028-29.

James Murray
Chief Secretary to the Treasury
19th Mar 2026
To ask the Chancellor of the Exchequer, what Barnett consequentials will be generated for Scotland by (a) the awarding of grants to local authorities in England to address SEND deficits, as set out in UIN HCWS1315 and (a) the funding for SEND announced in the Spring Statement 2026.

At Spring Forecast 2026 it was confirmed that the Scottish Government will receive £533 million Barnett consequentials in 2026-27, through the application of the Barnett formula to the grants for Local Authorities to address SEND deficits in England.

The Barnett formula applies mechanically to new funding for the Department for Education in 2028-29, to support reforms of the SEND system. This results in an additional £362 million for the Scottish Government in 2028-29.

James Murray
Chief Secretary to the Treasury
19th Mar 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the adequacy of support available to households using heating oil, in the context of rising global oil prices linked to the conflict in Iran.

The government has acted quickly to provide £53m in timely, targeted support to vulnerable households, struggling with the rising price of heating oil, predominantly in rural communities.

James Murray
Chief Secretary to the Treasury
19th Mar 2026
To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what the projected levels of total public expenditure are expected to be in (a) 2026-2027, (b) 2027-2028, (c) 2028-2029, (d) 2029-2030 and (d) 2030-2031 financial years; which areas of public spending are expected to see the largest increases over the forecast period; and what steps her Department intends to take to manage spending pressures within departmental budgets.

The OBR’s Economic and Fiscal Outlook – published on the OBR’s website - sets out in detail the projected levels of total public expenditure over the next five years.

The government's public spending approach is fair, disciplined and controlled, helping to reduce borrowing and keep public finances on a sustainable path.

James Murray
Chief Secretary to the Treasury
19th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the impact of industrial energy prices on economic growth.

We know high energy costs are one of the greatest challenges facing industry and is a key barrier to growth in the UK.

In the Modern Industrial Strategy, we announced the new British Industrial Competitiveness Scheme, which will reduce electricity costs by c.£35-40/MWh up to 2030 and support thousands of businesses.

This forms part of a wider package of support to industry.

James Murray
Chief Secretary to the Treasury
19th Mar 2026
To ask the Chancellor of the Exchequer, what discussions she has had with the Secretary of State for Business and Trade on additional funding for extending the UK Supercharger Scheme.

The Chancellor has regular discussions with the Secretary of State for Business and Trade on a range of topics.

James Murray
Chief Secretary to the Treasury
18th Mar 2026
To ask the Chancellor of the Exchequer, what the average staffing complement is for a ministerial private office within their Department; what grades those staff are appointed at; what the typical remuneration and contracted working hours are for those posts; and what the staff turnover rate is.

HMT ministerial private offices hire an average 6.5 FTE per office. Staff are appointed at grades: AO, EO, HEO, SEO, G7, G6 and Deputy Director. Contracted working hours for these staff members are 37 hours per week.

Staff salaries for the appointed grades are typically between £26,200 - £117,800. Designated posts may also benefit from Private Office Allowance.

The average staff turnover over the last 3 years was between 20-30%, which can include staff on loans to HMT returning to their home departments, or individuals leaving to other government departments, including on promotion.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, at what domestic conferences the Valuation Office Agency has made presentations since July 2024.

Staff members are supported to speak at, learn from and contribute to various conferences and meetings of valuation professionals here in the UK. We do not keep a central log of all these domestic activities.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, what steps she is taking to change cultural tax reliefs to account for the cost of touring.

The Government recognises the importance of the creative industries, and supports the sector through a range of tax reliefs which are among the most generous in the world, providing over £2.4 billion of support in 2023–24.

The reliefs support the sector with the cost of touring. Orchestra Tax Relief (OTR) provides a generous rate of 45 per cent tax relief on orchestral production costs – including the cost of domestic touring, such as transport and accommodation – and provided £50 million of support in 2023-24. There is currently no other country in the world which offers such a tax relief for orchestras. Theatre Tax Relief (TTR) and Museums and Galleries Exhibition Tax Relief (MGETR), provide a 40% rate of relief to non-touring productions but offer higher rates of relief (at 45%) for touring productions.

The Government carefully considers the design of the creative sector tax reliefs to ensure they are well targeted, effective in achieving their policy objectives, and represent value for money for the taxpayer.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, what recent assessment she has made of the potential impact of rules on tax relief on touring costs in Europe.

The Government recognises the importance of the creative industries, and supports the sector through a range of tax reliefs which are among the most generous in the world, providing over £2.4 billion of support in 2023–24.

The reliefs support the sector with the cost of touring. Orchestra Tax Relief (OTR) provides a generous rate of 45 per cent tax relief on orchestral production costs – including the cost of domestic touring, such as transport and accommodation – and provided £50 million of support in 2023-24. There is currently no other country in the world which offers such a tax relief for orchestras. Theatre Tax Relief (TTR) and Museums and Galleries Exhibition Tax Relief (MGETR), provide a 40% rate of relief to non-touring productions but offer higher rates of relief (at 45%) for touring productions.

The Government carefully considers the design of the creative sector tax reliefs to ensure they are well targeted, effective in achieving their policy objectives, and represent value for money for the taxpayer.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 February 2026 to Question 111691 on Valuation Office Agency: Conference, if she will publish the presentations from the Valuation Office Agency at the (a) December 2024, (b) March 2025 and (c) September 2025 international conferences.

We do not routinely publish this information.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of name of the high value council tax surcharge on public awareness of the local authorities' role in the process of collecting revenue from this tax.

As set out at Budget 2025, the High Value Council Tax Surcharge will be administered alongside existing Council Tax by local authorities, who will collect revenue. The Government will undertake a new burdens assessment to ensure costs to local authorities are fully funded.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what fiscal headroom the Government is forecast to have against its fiscal rules in each year of the forecast period; what sensitivity analysis has been undertaken by the Office for Budget Responsibility regarding changes in growth, interest rates or inflation; and what assessment she has made of the level of risks to the Government’s ability to meet its fiscal targets.

In line with the Office for Budget Responsibility (OBR)'s mandate, the OBR did not provide a formal assessment of performance against the fiscal rules at the Spring forecast on 3 March. The fiscal rules will be formally assessed alongside the Budget.

As the Chancellor said in her speech to the House, the forecast shows headroom against the stability rule has increased since the Budget from £21.7bn at the Budget to £23.6bn in 2029-30, which is the target year, meaning greater resilience against shocks and stability in the economy. Headroom against the investment rule is also higher at £27.1bn in 2029-30.

As an independent body, the OBR has full discretion over its forecast methodology and the judgements underpinning its forecasts. As is standard, the March 2026 Economic and Fiscal Outlooks included sensitivity analysis around key economic variables and highlighted upside and downside risks to its central forecast

Torsten Bell
Parliamentary Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what the forecast rate of UK economic growth is expected to be in each year of the forecast period; what the principal risks are to those forecasts; and what policy measures she intends to pursue to improve long-term productivity and economic growth.

The independent Office for Budget Responsibility (OBR) published its latest Economic and Fiscal Outlook (EFO) on the 3rd March 2026. The OBR forecasts that the UK economy will grow by 1.1% in 2026, and will then grow at an average rate of 1.6% per year from 2027 to 2030.

The OBR set out in their EFO what they see as the key risks to the forecasts. In their press conference, the OBR emphasised that while the central forecast does not assume a renewed energy shock, the conflict represents the key downside risk.

The government’s economic strategy is focused on delivering long-term reform, ensuring the UK is better placed to withstand external shocks. This includes targeted investment to boost growth, support innovation, and strengthen trading relationships, alongside action to improve our labour market participation and skills. These interventions form part of a broader plan to raise productivity, expand economic capacity and support living standards across the UK, while strengthening our economic resilience in an age of global insecurity shaped by geopolitical tensions, including those involving Iran.

Torsten Bell
Parliamentary Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, what sectors have been identified as priorities for UK–EU alignment under the growth plan.

Alignment will be an iterative process and decisions will be based on the national interest principles set out by the Chancellor on 17 March. This means a decision to align will be made if:

- It promotes higher growth, investment, consumer benefits, and jobs for the long-term

- The future direction of policy is sufficiently stable and compatible, in terms of values and objectives

- The UK’s economic and national security and resilience is preserved or enhanced.

The Government is currently negotiating an agrifood deal that could add up to £5.1 billion a year to our economy and increase agricultural exports to the EU by 16 per cent.

Lucy Rigby
Economic Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, when her Department expects all eligible retired members of public service pension schemes under its responsibility to receive their McCloud remedy payments; and what steps she is taking to expedite payments to affected pensioners.

Scheme managers of the individual public service pension schemes are responsible for ensuring the effective delivery of the McCloud remedy to affected members. I have written to scheme managers to remind them of their responsibilities to implement the remedy as quickly as possible and ensure that scheme members and the Pensions Regulator are kept informed of progress and plans.

Torsten Bell
Parliamentary Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, how much of the money allocated to the Equitable Life compensation fund is expected to be retained by her Department, in the context of contingency funds.

The Equitable Life Payment Scheme has been fully wound down and closed since 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion as planned.

There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.

Torsten Bell
Parliamentary Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, if she will take steps to ensure that contingency funding linked to the Equitable Life Payment Scheme will be used to compensate Equitable Life policyholders.

The Equitable Life Payment Scheme has been fully wound down and closed since 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion as planned.

There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.

Torsten Bell
Parliamentary Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential implications for her policies of the Equitable Members' Action Group’s analysis of Government spending on the compensation package for people affected by financial losses related to Equitable Life policies, published in January 2026.

The Equitable Life Payment Scheme has been fully wound down and closed since 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion as planned.

There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.

Torsten Bell
Parliamentary Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential economic impact on Scottish communities of the estimated £551 million shortfall between the Financial Conduct Authority's proposed motor finance redress scheme pay outs and potential court awards as outlined in the APPG on Fair Banking Report on Car Finance redress published in November 2025.

The Government wants to see this issue resolved in an efficient and orderly way that provides certainty for consumers and firms.

The Financial Conduct Authority (FCA), as the independent regulator, has consulted on proposals for a motor finance consumer redress scheme. The FCA has announced that it will set out its final approach to motor finance redress on 30 March: https://www.fca.org.uk/news/statements/timing-fca-motor-finance-announcement.

Lucy Rigby
Economic Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, what discussions she has had with the Financial Conduct Authority regarding its proposal to set compensatory interest for motor finance redress at the Bank of England base rate plus one per cent, in the context courts recently awarding eight per cent to compensate vulnerable consumers for consequential financial losses.

The Government wants to see this issue resolved in an efficient and orderly way that provides certainty for consumers and firms.

The Financial Conduct Authority (FCA), as the independent regulator, has consulted on proposals for a motor finance consumer redress scheme. The FCA has announced that it will set out its final approach to motor finance redress on 30 March: https://www.fca.org.uk/news/statements/timing-fca-motor-finance-announcement.

Lucy Rigby
Economic Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, who she has had discussions with in the Northern Ireland Executive on the Credit Union Common Bond Reform Call for Evidence Response.

The call for evidence response on credit union common bond reform in Great Britain was published on 18 March 2026. The call for evidence itself ran from November 2024 to March 2025 and was open to all to submit responses. As credit union policy is devolved to Northern Ireland, the measures announced in the government’s response apply only to Great Britain.

HM Treasury has kept the Northern Ireland Executive informed. The government has written to ministers in the Northern Ireland Executive to notify them of the legislative changes being taken forward in Great Britain. Treasury officials also engaged with counterparts in the Northern Ireland Executive during the call for evidence, and this engagement is continuing following publication of the response.

These reforms will modernise the common bond framework, support the growth of the credit union sector, and help ensure that it can continue to deliver positive outcomes for members and communities across Great Britain.

Lucy Rigby
Economic Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, whether banking hubs are obliged to accept cheque deposits.

The Government recognises that cheques remain an important payment method for some people. Decisions on whether cheque deposits are accepted and processed through Post Office counters in banking hubs are commercial matters for individual banks, based on their arrangements with the Post Office and Cash Access UK, which operates banking hubs.

Most retail banks currently accept cheque deposits at banking hubs and the Government expects firms to ensure that customers can continue to access the services they need.

Where this service is not available at a banking hub counter, customers continue to have alternative options to pay in cheques, including at bank branches and by post, or digitally via mobile banking apps using cheque imaging technology.

Any customers affected by changes to cheque depositing services offered through banking hubs are encouraged to contact their bank directly to request information about the bank’s plans to support them.

The Government continues to engage with the banking industry banking industry, the Post Office and Cash Access UK to improve the consistency and level of services provided through banking hubs, so that they meet the needs of communities across the UK.

Lucy Rigby
Economic Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of increases in regulatory alignment with the EU on economic growth in the Buckingham and Bletchley constituency.

Integrated markets tend to be more competitive. Businesses typically respond by becoming more innovative and efficient, workers gain from higher productivity, allowing wages to rise, and consumers gain from lower prices.

Leaving the EU increased costs for businesses and consumers, shrank markets for UK exporters, and left our strategic industries exposed. Since March 2020, the OBR has maintained its estimate that productivity will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU. Recent independent studies indicate its GDP impacts could be as much as 6% to 8%.

Aligning UK and EU regulations can reduce some of these frictions, enlarging the market for UK firms, supporting growth in trade and the jobs linked to it.

Lucy Rigby
Economic Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, what analysis HM Treasury has undertaken on the potential effect of UK–EU alignment measures on levels of UK competitiveness.

Integrated markets tend to be more competitive. Businesses typically respond by becoming more innovative and efficient, workers gain from higher productivity, allowing wages to rise, and consumers gain from lower prices.

Leaving the EU increased costs for businesses and consumers, shrank markets for UK exporters, and left our strategic industries exposed. Since March 2020, the OBR has maintained its estimate that productivity will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU. Recent independent studies indicate its GDP impacts could be as much as 6% to 8%.

Aligning UK and EU regulations can reduce some of these frictions, enlarging the market for UK firms, supporting growth in trade and the jobs linked to it.

Lucy Rigby
Economic Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of increases in levels of UK-EU alignment on UK labour markets.

Integrated markets tend to be more competitive. Businesses typically respond by becoming more innovative and efficient, workers gain from higher productivity, allowing wages to rise, and consumers gain from lower prices.

Leaving the EU increased costs for businesses and consumers, shrank markets for UK exporters, and left our strategic industries exposed. Since March 2020, the OBR has maintained its estimate that productivity will be 4% lower in the long run than it would have been had the UK not withdrawn from the EU. Recent independent studies indicate its GDP impacts could be as much as 6% to 8%.

Aligning UK and EU regulations can reduce some of these frictions, enlarging the market for UK firms, supporting growth in trade and the jobs linked to it.

Lucy Rigby
Economic Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, whether the actions under the Agenda for Change uplift and a fairer deal for nurses statement for NHS England published on on 12 February 2026 will lead to additional funding for the Welsh Government through the Barnett Formula.

The Department for Health and Social Care received funding to deliver the actions under the Agenda for Change uplift and a fairer deal for nurses statement at Spending Review 2025, with the Barnett formula applying in the usual way, as set out in the Statement of Funding Policy.

James Murray
Chief Secretary to the Treasury
20th Mar 2026
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of providing relief on employer's National Insurance Contributions for a) those not in education, employment or training, b) the long-term sick and c) those under the age of 24.

Businesses are able to claim employer National Insurance Contribution reliefs including those for under-21s and under-25 apprentices on earnings up to £50,270. These reliefs are forecast to be worth around £2.5 billion in 2025/26.

The government is committed to providing young people with the support they need to earn or learn. At the last Budget, we committed more than £1.5 billion to back young people through the Youth Guarantee and invest additional funding in the Growth and Skills Levy. We recently went further, announcing around £1 billion more to help unlock up to 200,000 job and apprenticeship opportunities for young people.

The government will also provide personalised employment and health support for anyone on out of work benefits with a work-limiting health condition or disability, as set out in the Pathways to Work Green Paper.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
20th Mar 2026
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of providing relief on employer's National Insurance Contributions for those a) not in education, employment or training and b) under the age of 24 on youth unemployment.

Businesses are able to claim employer National Insurance Contribution reliefs including those for under-21s and under-25 apprentices on earnings up to £50,270. These reliefs are forecast to be worth around £2.5 billion in 2025/26.

The government is committed to providing young people with the support they need to earn or learn. At the last Budget, we committed more than £1.5 billion to back young people through the Youth Guarantee and invest additional funding in the Growth and Skills Levy. We recently went further, announcing around £1 billion more to help unlock up to 200,000 job and apprenticeship opportunities for young people.

The government will also provide personalised employment and health support for anyone on out of work benefits with a work-limiting health condition or disability, as set out in the Pathways to Work Green Paper.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
19th Mar 2026
To ask His Majesty's Government, with regard to the Action Plan to ensure regulators and regulation support growth, published on 17 March 2025, what assessment they have made of the potential for more novel and contentious funding proposals to drive private investment and encourage regulators to increase innovation.

Well-designed and well-implemented regulation has an essential role in unlocking investment and innovation. In the Action Plan, the Government is clear that the cumulative burden of regulation has grown to disproportionate levels, fuelling complexity and uncertainty; and that excessive baked-in risk-aversion and unpredictable regulatory processes can negatively impact growth.

The Government is addressing these challenges by bringing the administrative burden of regulation down by 25 per cent; increasing the strategic alignment between the Government's objectives and regulator activity; and backing regulators to challenge excessive risk aversion across the system.

To ensure regulation keeps pace with technological change, the Business Secretary will soon legislate for our new ‘Growth Labs’. This is a new approach to regulation, with the power to make rapid, temporary amendments to regulation to safely test and prove application of new tech.

Lord Livermore
Financial Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of allowing people with disabilities and chronic illness so add voluntary National Insurance contributions beyond the current six year limit.

Individuals can pay voluntary National Insurance contributions for up to six years in arrears to fill gaps in their National Insurance record.

There are also a wide range of National Insurance credits available, ensuring people can build their National Insurance record. Some are linked to benefits that can be claimed in relation to illness or disability such as Employment and Support Allowance.

Torsten Bell
Parliamentary Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, what fiscal support her Department is providing to support the growth of the Gaming Industry.

The government recognises the role the leisure sector plays in terms of its economic contribution but also to our culture. In the context of gaming, the government understands the benefits that bingo halls bring to local communities, and that bingo is a low-risk activity. To support the high street and community activities the government is abolishing Bingo Duty from April 2026.

More broadly, we are keen to ensure that Britain’s coastline – including the Suffolk coast – remain an attraction to domestic and international visitors. The government has set an ambitious goal to grow annual inbound tourism to 50 million visitors by 2030. To help achieve this, we have established a new Visitor Economy Advisory Council, which is currently helping to co-create a Visitor Economy Growth Strategy. The Strategy endeavours to share the benefits of tourism across every nation and region, including coastal and seaside areas.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, what steps her Department is taking to support the growth of the Gaming Industry in Suffolk.

The government recognises the role the leisure sector plays in terms of its economic contribution but also to our culture. In the context of gaming, the government understands the benefits that bingo halls bring to local communities, and that bingo is a low-risk activity. To support the high street and community activities the government is abolishing Bingo Duty from April 2026.

More broadly, we are keen to ensure that Britain’s coastline – including the Suffolk coast – remain an attraction to domestic and international visitors. The government has set an ambitious goal to grow annual inbound tourism to 50 million visitors by 2030. To help achieve this, we have established a new Visitor Economy Advisory Council, which is currently helping to co-create a Visitor Economy Growth Strategy. The Strategy endeavours to share the benefits of tourism across every nation and region, including coastal and seaside areas.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, with reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what estimate she has made of the additional annual cost to the average UK motorist as a result of the planned staged increases in fuel duty between September 2026 and March 2027; and what assessment she has made of the potential impact of those increases on household finances.

The Chancellor considers a wide range of impacts when taking decisions on tax policy. At Budget 2025, the Government announced that the 5p cut in fuel duty would be extended until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027. The planned increase in line with inflation for 2026/27 will also not take place, with RPI uprating resuming from 2027/28 onwards.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre.

The Government has published Tax Impact and Information Notes (TIINs) assessing the impacts of the 2026/27 fuel duty rates, which can be found at GOV.UK:

https://www.gov.uk/government/publications/fuel-duty-rates-for-2026-to-2027/fuel-duty-rates-2026-to-2027

The Rural Fuel Duty Relief Scheme provides a 5p reduction to motorists buying fuel in certain areas. The areas included in the scheme demonstrate certain characteristics such as: pump prices much higher than the UK average; remoteness leading to high fuel transport costs from refinery to filling station, and; relatively low sales meaning that retailers cannot benefit from bulk discounts.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices affordable at the pump. As with all taxes, the Government keeps fuel duty under review.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential combined impact of the proposed increase in fuel duty and the recent rise in global oil prices on the price of petrol and diesel in the next 12 months.

The Chancellor considers a wide range of impacts when taking decisions on tax policy. At Budget 2025, the Government announced that the 5p cut in fuel duty would be extended until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027. The planned increase in line with inflation for 2026/27 will also not take place, with RPI uprating resuming from 2027/28 onwards.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre.

The Government has published Tax Impact and Information Notes (TIINs) assessing the impacts of the 2026/27 fuel duty rates, which can be found at GOV.UK:

https://www.gov.uk/government/publications/fuel-duty-rates-for-2026-to-2027/fuel-duty-rates-2026-to-2027

The Rural Fuel Duty Relief Scheme provides a 5p reduction to motorists buying fuel in certain areas. The areas included in the scheme demonstrate certain characteristics such as: pump prices much higher than the UK average; remoteness leading to high fuel transport costs from refinery to filling station, and; relatively low sales meaning that retailers cannot benefit from bulk discounts.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices affordable at the pump. As with all taxes, the Government keeps fuel duty under review.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
19th Mar 2026
To ask the Chancellor of the Exchequer, in reference to the Office for Budget Responsibility’s Economic and Fiscal Outlook published in March 2026, what assessment she has made of the potential impact of planned fuel duty increases on households in rural and car-dependent areas; and what modelling the Treasury has undertaken on the additional commuting costs faced by motorists in those areas during a period of rising global fuel prices.

The Chancellor considers a wide range of impacts when taking decisions on tax policy. At Budget 2025, the Government announced that the 5p cut in fuel duty would be extended until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027. The planned increase in line with inflation for 2026/27 will also not take place, with RPI uprating resuming from 2027/28 onwards.

Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 8-11 pence per litre.

The Government has published Tax Impact and Information Notes (TIINs) assessing the impacts of the 2026/27 fuel duty rates, which can be found at GOV.UK:

https://www.gov.uk/government/publications/fuel-duty-rates-for-2026-to-2027/fuel-duty-rates-2026-to-2027

The Rural Fuel Duty Relief Scheme provides a 5p reduction to motorists buying fuel in certain areas. The areas included in the scheme demonstrate certain characteristics such as: pump prices much higher than the UK average; remoteness leading to high fuel transport costs from refinery to filling station, and; relatively low sales meaning that retailers cannot benefit from bulk discounts.

As the Chancellor has set out, a rapid de-escalation in the Middle East remains the best way to keep prices affordable at the pump. As with all taxes, the Government keeps fuel duty under review.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of including refined products in the Carbon Border Adjustment Mechanism before January 2029 or earlier.

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

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

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the inclusion of refined products in the carbon border adjustment mechanism on national security.

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

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

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 23 February 2026 to Question 112096 on VAT Fraud, how many cases are being investigated by HMRC of organised criminals accessing VAT accounts using genuine customers' registration details and claiming VAT refunds.

HMRC has active investigations into organised crime VAT fraud. However, live case information isn’t routinely published, and disclosing the number of ongoing investigations would risk alerting or enabling those seeking to exploit the tax system.

Further to answer UIN 112096, HMRC have implemented additional controls over recent months to strengthen its systems and ensure access is limited to legitimate customers. As part of this, HMRC has established the Fraud Prevention Centre (FPC), a multi-functional team led by HMRC's Security directorate, focused on the protection, detection and response to identity-related security threats. The FPC also provides enhanced, direct support to customers and manages fraud in line with industry best practice.

HMRC has wide ranging criminal investigation powers, as set out on GOV.UK, and is resourced to investigate serious fraud, deploying compliance and enforcement capability to protect the integrity of the tax system. At Spring Statement 2025, the Government set out plans to expand HMRC's counter-fraud capability, including strengthening its response to organised criminal attacks.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
18th Mar 2026
To ask the Chancellor of the Exchequer, pursuant to WPQ 112096 answered on 23 February 2026 about 'VAT Fraud,' what recent discussions he has had with HMRC about trends in the levels of cases of organised criminals accessing VAT accounts using customers' registration details and claiming VAT refunds.

HMRC has active investigations into organised crime VAT fraud. However, live case information isn’t routinely published, and disclosing the number of ongoing investigations would risk alerting or enabling those seeking to exploit the tax system.

Further to answer UIN 112096, HMRC have implemented additional controls over recent months to strengthen its systems and ensure access is limited to legitimate customers. As part of this, HMRC has established the Fraud Prevention Centre (FPC), a multi-functional team led by HMRC's Security directorate, focused on the protection, detection and response to identity-related security threats. The FPC also provides enhanced, direct support to customers and manages fraud in line with industry best practice.

HMRC has wide ranging criminal investigation powers, as set out on GOV.UK, and is resourced to investigate serious fraud, deploying compliance and enforcement capability to protect the integrity of the tax system. At Spring Statement 2025, the Government set out plans to expand HMRC's counter-fraud capability, including strengthening its response to organised criminal attacks.

Dan Tomlinson
Exchequer Secretary (HM Treasury)