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
Gareth Davies (Con - Grantham and Bourne)
Shadow Financial Secretary (Treasury)
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)
Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
There are no upcoming events identified
Debates
Thursday 8th January 2026
Road Safety Strategy
Commons Chamber
Select Committee Inquiry
Tuesday 31st January 2023
Quantitative tightening

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

Written Answers
Monday 12th January 2026
Property Transfer: Bank Services
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of fragmented payment processes …
Secondary Legislation
Wednesday 7th January 2026
Local Government Finance Act 1988 (Calculation of Non-Domestic Rating Multipliers for Retail, Hospitality or Leisure) (England) Regulations 2026
Paragraphs A6A and 9B of Schedule 7 to the Local Government Finance Act 1988 (c. 41) (“the Act”) were inserted …
Bills
Thursday 4th December 2025
National Insurance Contributions (Employer Pensions Contributions) Bill 2024-26
A Bill to Make provision to amend section 4 of the Social Security Contributions and Benefits Act 1992, and section …
Dept. Publications
Friday 9th January 2026
16:54

Guidance

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
Dec. 09
Oral Questions
Jan. 08
Written Statements
Jan. 07
Westminster Hall
Dec. 03
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: 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

Paragraphs A6A and 9B of Schedule 7 to the Local Government Finance Act 1988 (c. 41) (“the Act”) were inserted by the Non-Domestic Rating (Multipliers and Private Schools) Act 2025 (c. 12), enabling the Treasury to make regulations for additional non-domestic rating multipliers for the purpose of the calculation of business rates under the Act. These Regulations specify the additional multipliers that will apply to retail, hospitality or leisure (“RHL”) hereditaments in respect of financial years beginning on or after 1st April 2026. The Regulations specify the calculation for the RHL multipliers that apply to occupied RHL hereditaments, including those located in a special authority (as defined in section 144(6) of the Act).
Paragraphs A6A and 9B of Schedule 7 to the Local Government Finance Act 1988 (c. 41) (“the Act”) were inserted by the Non-Domestic Rating (Multipliers and Private Schools) Act 2025 (c. 12), enabling the Treasury to make regulations for additional non-domestic rating multipliers for the purpose of the calculation of business rates under the Act. These Regulations specify the high-value multiplier that will apply to hereditaments in respect of financial years beginning on or after 1st April 2026. The Regulations specify the calculation for the high-value multiplier that applies to hereditaments for which the value is £500,000 or more, including those located in a special authority (as defined in section 144(6) of the Act).
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
7,805 Signatures
(759 in the last 7 days)
Petition Open
349 Signatures
(322 in the last 7 days)
Petitions with most signatures
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 7 months, 4 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: Upcoming Events
Treasury Committee - Private Meeting
12 Jan 2026, 1:30 p.m.
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Treasury Committee - Oral evidence
Work of HM Revenue and Customs
13 Jan 2026, 9:30 a.m.
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Treasury Committee - Private Meeting
AI in financial services
14 Jan 2026, 2 p.m.
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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

6th Jan 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the recent BankConfidential report entitled "Hidden Credit Lines – The Largest Fraud Anywhere Ever", and what steps she plans to take as a result.

The Treasury is aware of the Bank Confidential report about former misconduct in SME banking. The Government also recognises the serious impact that issues of misconduct have had on small businesses in the UK.

I would refer the Honourable Member to an answer I gave recently on this topic (UIN 101305), on 6 January, in which I noted that successive governments and the financial services regulator, working with the financial sector, have taken steps aimed at addressing historical issues of SME misconduct, including through a range of compensation and redress schemes, some of which are ongoing.

The Government continues to keep the financial services regulatory framework under ongoing review, working closely with the Financial Conduct Authority.

Lucy Rigby
Economic Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, pursuant to the answer of 19 November 2025 to Question 89480 on Jeffery Epstein, whether those records are held in (a) electronic and (b) hard copy format; and whether Ministerial private office records for 2009-10 are searchable electronically.

HM Treasury’s private office records for 2009-10, including for ministerial meetings and correspondence, are held within HM Treasury’s archives in both digital and paper formats, and those in electronic format are searchable electronically.

Lucy Rigby
Economic Secretary (HM Treasury)
6th Jan 2026
To ask the Chancellor of the Exchequer, what discussions her Department has held with Lloyds Banking Group regarding its decision to remove cheque deposit services from Post Offices under Banking Framework 4.

The Government recognises the important role the Post Office plays in providing essential banking services, particularly in rural areas. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance and pay bills at thousands of Post Office branches across the UK. Furthermore, the Post Office is required by the Department for Business & Trade to ensure that 95% of the total rural population across the UK is within 3 miles of their nearest Post Office.

Decisions about what services are available at the Post Office, such as cheque deposits, are made by the banks as part of their commercial arrangements.

Customers continue to have other options for paying in cheques, whether at local bank branches, by post, or digitally via mobile apps using cheque imaging technology. I have discussed this with Lloyds, who assure me customers are able to use freepost to deposit cheques without needing to travel, where branch or digital options are not suitable.

Lucy Rigby
Economic Secretary (HM Treasury)
6th Jan 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact on access to banking services of Lloyds Banking Group’s decision to discontinue cheque deposit services at Post Offices from 31 December 2025.

The Government recognises the important role the Post Office plays in providing essential banking services, particularly in rural areas. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance and pay bills at thousands of Post Office branches across the UK. Furthermore, the Post Office is required by the Department for Business & Trade to ensure that 95% of the total rural population across the UK is within 3 miles of their nearest Post Office.

Decisions about what services are available at the Post Office, such as cheque deposits, are made by the banks as part of their commercial arrangements.

Customers continue to have other options for paying in cheques, whether at local bank branches, by post, or digitally via mobile apps using cheque imaging technology. I have discussed this with Lloyds, who assure me customers are able to use freepost to deposit cheques without needing to travel, where branch or digital options are not suitable.

Lucy Rigby
Economic Secretary (HM Treasury)
6th Jan 2026
To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure access to cheque deposit services in rural areas.

The Government recognises the important role the Post Office plays in providing essential banking services, particularly in rural areas. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance and pay bills at thousands of Post Office branches across the UK. Furthermore, the Post Office is required by the Department for Business & Trade to ensure that 95% of the total rural population across the UK is within 3 miles of their nearest Post Office.

Decisions about what services are available at the Post Office, such as cheque deposits, are made by the banks as part of their commercial arrangements.

Customers continue to have other options for paying in cheques, whether at local bank branches, by post, or digitally via mobile apps using cheque imaging technology. I have discussed this with Lloyds, who assure me customers are able to use freepost to deposit cheques without needing to travel, where branch or digital options are not suitable.

Lucy Rigby
Economic Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, what discussions she has had with regulators and industry on updating the financial infrastructure that underpins the movement of funds during property transactions.

The Government regularly engages with lenders and regulators to discuss the housing market, including lenders’ mortgage lending practices which support property transactions.

The Ministry of Housing, Communities and Local Government is currently consulting on reforms to the home buying and selling process. The Government has made clear its objectives that reform should support faster, more reliable transactions and reduced fall throughs and risks.

Lucy Rigby
Economic Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of fragmented payment processes in property transactions on levels of fraud risk.

The Government regularly engages with lenders and regulators to discuss the housing market, including lenders’ mortgage lending practices which support property transactions.

The Ministry of Housing, Communities and Local Government is currently consulting on reforms to the home buying and selling process. The Government has made clear its objectives that reform should support faster, more reliable transactions and reduced fall throughs and risks.

Lucy Rigby
Economic Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, if her Department will publish information on the taxable status of, and taxes collected from, Libya’s frozen assets.

We do not have this specific information. The UK’s tax system is not able to target specific tax rates at specific pots of money. The UK tends to apply tax to classes of transactions, rather than assets in situ.

Under all UK sanctions regimes, including the Libya Regulations, taxes and other payments may be made under licences and exceptions from frozen funds, subject to strict conditions. However, specific licence or exception related information is not available for publication to ensure and maintain confidentiality and to comply with UK data protection law.

Lucy Rigby
Economic Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, what steps she is taking to tackle vulnerabilities in property transactions, particularly in the handling and movement of large sums during settlement, in the Economic Crime Plan.

The government’s Economic Crime Plan 2 has strengthened the UK’s defences against property‑related money laundering by enhancing transparency of land and overseas property ownership, improving data‑sharing and enforcement, and targeting higher‑risk activity in the property sector to better detect, disrupt and recover illicit assets.

The government’s Money Laundering Regulations ensure that those sectors most at risk of being abused for money laundering have appropriate risk-based controls in place. The regulations apply to all financial, legal and estate agency firms involved in property transactions, whether directly with the purchase, securing the funds, or setting up structures to hold property.

The government intends to develop a new public-private strategy focused on anti-money laundering and asset recovery in the coming months.

Lucy Rigby
Economic Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, how much funding Staffordshire County Council has received from His Majesty’s Government since 1 May 2025.

Funding for individual local authorities is primarily distributed through the Local Government Finance Settlement. Details of the funding allocated to Staffordshire County Council through the Settlement for 2025–26, as well as its Core Spending Power, are published online and can be accessed here Core Spending Power table: final local government finance settlement 2025 to 2026 - GOV.UK.
James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, whether the departing direct ministerial appointments in the Office for Value for Money will receive exit payments.

The Office for Value for Money (OVfM) successfully delivered on its remit.Its functions have been embedded within the Treasury, leaving a legacy of value for money improvements across the public sector.

OVfM was made up of a combination of HM Treasury employees and people on loan from other departments or public bodies. Staff on loan have returned to their home organisations and the permanent HM Treasury employees have either taken up new roles internally or left the department for new employers.

The independent Chair's contract ended alongside the closure of OVfM. An exit payment was not made.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, whether any staff (a) have and (b) will be made redundant following the closure of the Office for Value for Money.

The Office for Value for Money (OVfM) successfully delivered on its remit.Its functions have been embedded within the Treasury, leaving a legacy of value for money improvements across the public sector.

OVfM was made up of a combination of HM Treasury employees and people on loan from other departments or public bodies. Staff on loan have returned to their home organisations and the permanent HM Treasury employees have either taken up new roles internally or left the department for new employers.

The independent Chair's contract ended alongside the closure of OVfM. An exit payment was not made.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, what estimate she has made of the number of Plan 2 student loan borrowers residing in Wales who will begin making repayments as a result of the freeze to the Plan 2 repayment threshold.

Education is a devolved matter. It is for the Welsh government to confirm threshold levels in Wales.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, what estimate she has made of the number of Plan 2 student loan borrowers residing in Wales who will repay at the higher interest threshold as a result of the freeze to the Plan 2 repayment threshold.

Education is a devolved matter. It is for the Welsh government to confirm threshold levels in Wales.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, what recent assessment she has made of the potential impact of fuel margins on household finances and poverty levels.

The Government recognises that households are still struggling with the impact of the cost of living on their finances. The Government notes the Competition and Markets Authority’s (CMA) annual road fuel monitoring report found that fuel margins remain persistently high and are not explained by operating costs. This indicates that competition in the road fuel retail market remains weak.

To address this, the Government is implementing Fuel Finder and extending the 5p fuel duty cut until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, what assessment she has made of how changes to the discount rate methodology might affect the appraisal of major infrastructure projects in different UK regions.

The independent review of the Green Book discount rate will be published in the summer 2026.

Changes to the Green Book discount rate methodology will affect the appraisal of major infrastructure projects that involve benefits and costs well into the future.

The discount rate review will inform the government’s decisions on major projects at the next Spending Review. It will help to ensure that the government makes fair assessments of transformational projects that provide long-term benefits.

HM Treasury’s terms of reference for the discount rate review note that the lead authors should look at international comparisons to better inform their judgements on the UK approach.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, how her Department plans to account for international approaches to social discounting in informing the UK review of discounting in the Green Book.

The independent review of the Green Book discount rate will be published in the summer 2026.

Changes to the Green Book discount rate methodology will affect the appraisal of major infrastructure projects that involve benefits and costs well into the future.

The discount rate review will inform the government’s decisions on major projects at the next Spending Review. It will help to ensure that the government makes fair assessments of transformational projects that provide long-term benefits.

HM Treasury’s terms of reference for the discount rate review note that the lead authors should look at international comparisons to better inform their judgements on the UK approach.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, what analysis her Department has undertaken on the potential fiscal implications for future public spending decisions of altering the declining discount rate regime.

The independent review of the Green Book discount rate will be published in the summer 2026.

Changes to the Green Book discount rate methodology will affect the appraisal of major infrastructure projects that involve benefits and costs well into the future.

The discount rate review will inform the government’s decisions on major projects at the next Spending Review. It will help to ensure that the government makes fair assessments of transformational projects that provide long-term benefits.

HM Treasury’s terms of reference for the discount rate review note that the lead authors should look at international comparisons to better inform their judgements on the UK approach.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact on levels of investment in the UK defence industry of the requirement under Commission Delegated Regulation (EU) 2020/1818 that Paris-aligned Benchmarks and UK Climate Transition Benchmarks exclude companies involved in activities related to controversial weapons; and whether the Government has evaluated any wider (a) economic and (b) investment impacts of that requirement.

As set out in response to PQ UIN 43043 on 9 April 2025, The UK Benchmarks Regulation sets out the requirements for UK Climate Transition Benchmarks and UK Paris-aligned Benchmarks.

The Financial Conduct Authority (FCA) monitors and supervises benchmark administrators according to the Benchmarks Regulation . The FCA published a statement regarding their position on sustainability regulations and UK defence investment on 11 March 2025.

The Treasury launched a consultation on the future regulatory regime for benchmarks and benchmark administrators on 17 December 2025. This consultation seeks views on proposals to reform the UK’s existing benchmarks regime, including the Climate Transition Benchmark and Paris-Aligned Benchmark labels.

James Murray
Chief Secretary to the Treasury
6th Jan 2026
To ask the Chancellor of the Exchequer, with reference to the Chancellor's written statement of 5 January 2026, UIN HCWS1219, whether she plans to respond to the OBR's Spring forecast in an oral statement.

As set out in a written statement to Parliament last week, the Chancellor has asked the Office for Budget Responsibility (OBR) to prepare an economic and fiscal forecast for publication on 3 March 2026. The Chancellor will deliver an oral statement to the House in response.

James Murray
Chief Secretary to the Treasury
6th Jan 2026
To ask the Chancellor of the Exchequer, with reference to the Chancellor's written statement of 5 January 2026, UIN HCWS1219, whether the government's response to the Office for Budget Responsibility's Spring forecast will be an oral or written statement to Parliament.

As set out in a written statement to Parliament last week, the Chancellor has asked the Office for Budget Responsibility (OBR) to prepare an economic and fiscal forecast for publication on 3 March 2026. The Chancellor will deliver an oral statement to the House in response.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, with reference to the value for money review of homelessness services announced in the Budget 2025 policy paper, (a) when this review is expected to begin and conclude and (b) what consultation will take place with voluntary-sector organisations delivering homelessness services.

The review will commence in 2026, with the outputs considered as part of the Spending Review 2027.

The review will be a collaborative effort across government departments and external expertise will also be used to inform a comprehensive assessment of homelessness services. This will include expertise from frontline services, local government, and other voluntary and charity sector organisations.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of Defence Sector exclusions within the Parliamentary Pension Scheme portfolio and whether this is compatible with Government defence sector financial objectives.

The Parliamentary Contributory Pension Fund is independent from government and investment decisions are a matter for the scheme’s trustees.

James Murray
Chief Secretary to the Treasury
2nd Jan 2026
To ask the Chancellor of the Exchequer, how many people paid late payment interest to HMRC in each year since 2020.

The information is not held in the form requested and could be provided only at disproportionate cost.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, how much late payment interest was paid to HMRC in each year since 2020.

The information is not held in the form requested and could be provided only at disproportionate cost.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, how many taxpayers received repayment interest from HMRC in each year since 2020.

The information is not held in the form requested and could be provided only at disproportionate cost.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, how much repayment interest was paid by HMRC in each year since 2020.

The information is not held in the form requested and could be provided only at disproportionate cost.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, what assessment she had made of the potential implications for her policies that heat batteries do not qualify for VAT relief through the Energy Saving Materials framework, while being MCS-certified and eligible for support under the Boiler Upgrade Scheme in the same way as heat pumps.

Installations of qualifying energy-saving materials (ESMs) in residential accommodation and buildings used solely for a charitable purpose benefit from a temporary VAT zero rate until March 2027, after which they will revert to the reduced rate of VAT at five per cent. The list of qualifying ESMs, which includes but is not limited to heat pumps, can be found here: https://www.gov.uk/guidance/vat-on-energy-saving-materials-and-heating-equipment-notice-7086.

The Government assesses whether to add ESMs to this relief by evaluating them against the following tests: the primary purpose of the technology must be to improve energy efficiency and reduce carbon emissions; relieving the technology of VAT must be a cost effective lever for encouraging installations; and it must be practical for business to operate and for HMRC to administer.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, whether she has considered adding heat batteries to the list of Energy Saving Materials.

Installations of qualifying energy-saving materials (ESMs) in residential accommodation and buildings used solely for a charitable purpose benefit from a temporary VAT zero rate until March 2027, after which they will revert to the reduced rate of VAT at five per cent. The list of qualifying ESMs, which includes but is not limited to heat pumps, can be found here: https://www.gov.uk/guidance/vat-on-energy-saving-materials-and-heating-equipment-notice-7086.

The Government assesses whether to add ESMs to this relief by evaluating them against the following tests: the primary purpose of the technology must be to improve energy efficiency and reduce carbon emissions; relieving the technology of VAT must be a cost effective lever for encouraging installations; and it must be practical for business to operate and for HMRC to administer.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the increase in Rateable Value on pubs.

I refer the hon. Members to the answer given to UIN 101363.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, what recent assessment she has made of support for pubs and breweries in light of the 40% business rates relief reducing in the same period as the VOA rate revaluation.

I refer the hon. Members to the answer given to UIN 101363.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, whether the Valuation Office Agency has undertaken an assessment of the potential impact of Revaluation 2026 on the profit margins of public houses.

I refer the hon. Members to the answer given to UIN 101363.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, what estimate she has made of the change in the level of taxation for the average pub between 2024 and 2029.

I refer the hon. Members to the answer given to UIN 101363.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
6th Jan 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the proposed reforms to Landfill Tax on the competitiveness and viability of the UK foundry sector; and what steps the Government is taking to ensure that any changes do not disproportionately affect small and medium-sized foundries.

The Government recognises the importance of businesses in the foundry sector, which employ thousands of people across the UK and support critical supply chains.

The Government has listened to concerns from businesses and announced at Budget 2025 that it will not proceed with the plan to converge towards a single rate of Landfill Tax. Instead, the Government intends to prevent the gap between the two rates from widening further over the coming years.

The Government has also decided not to remove key exemptions to Landfill Tax including the water discounting scheme and Qualifying Fines regime, and is committed to continuing to work with businesses to develop new solutions that enable them to recycle more of the waste they produce.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, what estimate she has made of the number of households who will have (a) Married Couple’s Allowance and (b) marriage allowance reduced as a result of freezing of income tax thresholds.

HMRC does not produce household-level analysis for either the Marriage Allowance or the Married Couple’s Allowance.

Data on the number of Marriage Allowance claimants up to 2022-23 can be found here:

Non-structural tax reliefs - GOV.UK

Published estimates of the number of Married Couple’s Allowance claimants up to 2024-25 can be found here:

Structural tax reliefs - GOV.UK

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, with reference to paragraph 4.38 of the OBR, Economic and Fiscal Outlook, November 2025, CP1439, 26 November 2025, and to the HMT document, Effects of the business rates retail, hospitality and leisure multipliers and high value multiplier of 26 November 2025, whether according to information held by HM Treasury, if she will break down the 10.2 per cent increase across the effects of (i) the new high-value surcharge, (ii) the rates revaluation and (iii) the higher multipliers.

The Government does not hold data on the breakdown of business rates revenue.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of increases in business rates at major UK airports on passenger drop off charges.

Properties seeing large bill increases as a result of the business rates revaluation - including airports - will benefit from a redesigned transitional relief scheme worth £3.2 billion over the next 3 years.

At Budget 2025, the government also published a Call for Evidence on Business Rates and Investment. It will explore the concerns that airports and a small number of other ratepayers have raised around the ‘Receipts & Expenditure’ valuation methodology and its impacts on long-term, high value investments. The government is seeking to address issues raised ahead of the 2029 revaluation, aiming to conclude this work in sufficient time before pre-list discussion commences.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, what is the estimated annual cost of the retail, hospitality and leisure multiplier in 2026-27, and how many hereditaments will be eligible in England according to her Department’s estimates.

The retail, hospitality and leisure (RHL) multipliers being introduced from April are worth nearly £900 million per year, and they will benefit over 750,000 properties in England.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of tax incentives for retail and hospitality employers to employ people aged 18 to 21 years old.

Businesses can already claim a number of employer NICs reliefs including those for under-21s and under-25 apprentices. This means employers will pay no employer NICs for apprentices under 25 or employees under 21 on earnings up to £50,270.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, with reference to the Valuation Office Agency's Council Tax: practice notes, Basis of Valuation- Valuation Assumptions, Section 4.3: Tenure, what assessment has the Agency made of the typical difference between a sale price and a council tax valuation as a consequence of the assumptions on leasehold flats.

I refer the hon member to the answer on UIN 99866.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, whether an Electric Vehicle chargepoint within the curtilage of a domestic dwelling is deemed to be a material consideration by the Valuation Office Agency when a property is valued or revalued for council tax, including the new surcharge.

I refer the hon member to the answer given on UIN 99865.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, with reference to the Valuation Office Agency's publication, VOA rating list downloads, whether the Unique Address Reference Number (UARN) matches individual hereditaments on the 2026 draft non-domestic rating list with their previous entry on the 2023 non-domestic rating list; and how are properties matched if they do not have an UARN.

I refer the hon member to the answer given on UIN 99863.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
2nd Jan 2026
To ask the Chancellor of the Exchequer, if she will make it her policy to allow Further Education colleges to reclaim VAT.

The Government recognises that Further Education (FE) funding is vital to ensure people are being trained in the skills they need to thrive in the modern labour market. The 2025 Spending Review provided an additional £1.2 billion per year by 2028-29 for skills and £1.7 billion of capital funding to help colleges maintain the condition of their estate. In addition, the Government is providing £375 million of capital investment to support the FE system to accommodate increasing student numbers.

For their non-business activity, FE colleges are unable to reclaim VAT incurred. We operate several VAT refund schemes for schools and academies. FE colleges do not meet the criteria for either scheme.

In relation to business activity, FE colleges enjoy an exemption from VAT which means that they do not have to charge VAT to students, but cannot recover it either. The Government is not currently planning to introduce a VAT refund scheme for FE institutions.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, whether she has considered freezing rateable values for small businesses at 2023 levels pending a full review of the business rates system.

The Government is delivering a long overdue reform to rebalance the business rates system and support the high street, as promised in our manifesto.

The Government is doing this by introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £900 million per year and will benefit over 750,000 properties.

The Government is also supporting small businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Government also published a Call for Evidence at Budget which explores how reform of the business rates system can be used to incentivise investment. This Call for Evidence builds on the findings set out in the Transforming Business Rates: Interim Report, which was based on written evidence from 141 stakeholders and engagement with 230 organisations.

Any reforms taken forward will be phased over the course of the Parliament.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, what consideration has been given to increasing permanent business rates relief for small and community-facing businesses.

The Government is delivering a long overdue reform to rebalance the business rates system and support the high street, as promised in our manifesto.

The Government is doing this by introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £900 million per year and will benefit over 750,000 properties.

The Government is also supporting small businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Government also published a Call for Evidence at Budget which explores how reform of the business rates system can be used to incentivise investment. This Call for Evidence builds on the findings set out in the Transforming Business Rates: Interim Report, which was based on written evidence from 141 stakeholders and engagement with 230 organisations.

Any reforms taken forward will be phased over the course of the Parliament.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, if she will undertake a full review of the business rates system.

The Government is delivering a long overdue reform to rebalance the business rates system and support the high street, as promised in our manifesto.

The Government is doing this by introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £900 million per year and will benefit over 750,000 properties.

The Government is also supporting small businesses to grow. At Budget, the Government announced the extension of Small Business Rates Relief (SBRR) so that businesses opening second premises can retain their SBRR for three years, tripling the current allowance.

The Government also published a Call for Evidence at Budget which explores how reform of the business rates system can be used to incentivise investment. This Call for Evidence builds on the findings set out in the Transforming Business Rates: Interim Report, which was based on written evidence from 141 stakeholders and engagement with 230 organisations.

Any reforms taken forward will be phased over the course of the Parliament.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, whether she plans to bring forward further reforms to VAT treatment within the taxi and private hire vehicle sector.

Private hire vehicle (PHV) services provided by VAT-registered businesses are, and always have been, subject to the standard rate of VAT (20%).

The Government’s announcement at Autumn Budget 2025 puts an end to the exploitation of a VAT administration scheme, designed for the tour operator sector, by a small number of large private hire vehicle operators seeking to pay a lower rate of VAT than others.

This won’t affect smaller operators outside London whose drivers contract directly with passengers, or black cabs, neither of which have attempted to exploit this scheme.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, what analysis has been conducted on the potential impact of business rates levels on commercial vacancy rates.

Empty Property Relief (EPR) operates by providing owners of empty non-domestic properties with 100% relief for the first 3 months (or 6 months for industrial properties) after a property becomes empty. If the property remains empty once the relief period ends, the owner must pay the property’s full business rates liability.

At Budget, the Government published a Call for Evidence at Budget which focuses on how reform of the business rates system can be used to incentivise and secure more investment by Britain’s businesses. This Call for Evidence builds on the findings of the Transforming Business Rates: Discussion Paper and asks stakeholders for more detailed evidence on how the business rates system influences investment decisions.

The Call for Evidence published at Budget seeks further evidence on the role business rates and reliefs play in investment, including Empty Property Relief.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
5th Jan 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of VAT on taxis and private hire cars in rural areas.

Private hire vehicle (PHV) services provided by VAT-registered businesses are, and always have been, subject to the standard rate of VAT (20%).

The Government’s announcement at Autumn Budget 2025 puts an end to the exploitation of a VAT administration scheme, designed for the tour operator sector, by a small number of large private hire vehicle operators seeking to pay a lower rate of VAT than others.

This won’t affect smaller operators outside London whose drivers contract directly with passengers, or black cabs, neither of which have attempted to exploit this scheme.

Dan Tomlinson
Exchequer Secretary (HM Treasury)