HM Treasury
HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.
Shadow Ministers / Spokeperson
Liberal Democrat
Baroness Kramer (LD - Life peer)Liberal Democrat Lords Spokesperson (Treasury and Economy)
Daisy Cooper (LD - St Albans)
Liberal Democrat Spokesperson (Treasury)
Conservative
Mel Stride (Con - Central Devon)Shadow Chancellor of the Exchequer
Green Party
Adrian Ramsay (Green - Waveney Valley)Green Spokesperson (Treasury)
Liberal Democrat
Charlie Maynard (LD - Witney)Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
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)
05:00
This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
To ask the Chancellor of the Exchequer, if she will provide an itemised list of imports and exports of (a) …
This Order designates specified central government bodies in relation to named government departments for the purpose of those departments’ supply …
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and …
HM Treasury Commons Appearances
Oral Answers to Questions is a regularly scheduled appearance where the Secretary of State and junior minister will answer at the Dispatch Box questions from backbench MPs
Other Commons Chamber appearances can be:- Urgent Questions where the Speaker has selected a question to which a Minister must reply that day
- Adjornment Debates a 30 minute debate attended by a Minister that concludes the day in Parliament.
- Oral Statements informing the Commons of a significant development, where backbench MP's can then question the Minister making the statement.
Westminster Hall debates are performed in response to backbench MPs or e-petitions asking for a Minister to address a detailed issue
Written Statements are made when a current event is not sufficiently significant to require an Oral Statement, but the House is required to be informed.
Bills currently before Parliament
HM Treasury does not have Bills currently before Parliament
Acts of Parliament created in the 2024 Parliament
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2025.
This Bill received Royal Assent on 21st July 2025 and was enacted into law.
A Bill to make provision about secondary Class 1 contributions.
This Bill received Royal Assent on 3rd April 2025 and was enacted into law.
A Bill to make provision about finance.
This Bill received Royal Assent on 20th March 2025 and was enacted into law.
A Bill to amend the Crown Estate Act 1961.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.
This Bill received Royal Assent on 16th January 2025 and was enacted into law.
A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.
This Bill received Royal Assent on 10th September 2024 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.
This Bill received Royal Assent on 30th July 2024 and was enacted into law.
HM Treasury - Secondary Legislation
Petitions
e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.
If an e-petition reaches 10,000 signatures the Government will issue a written response.
If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).
(1,775 in the last 7 days)
(1,427 in the last 7 days)
(1,103 in the last 7 days)
(340 in the last 7 days)
(127 in the last 7 days)
(1,427 in the last 7 days)
(61 in the last 7 days)
(31 in the last 7 days)
(1,103 in the last 7 days)
(1,775 in the last 7 days)
Petition Closed
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025closed 8 months, 2 weeks ago
Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.
Petition Closed
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025closed 9 months, 3 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.
Petition Closed
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025closed 9 months, 1 week ago
Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
Departmental Select Committee
Treasury Committee
Commons Select Committees are a formally established cross-party group of backbench MPs tasked with holding a Government department to account.
At any time there will be number of ongoing investigations into the work of the Department, or issues which fall within the oversight of the Department. Witnesses can be summoned from within the Government and outside to assist in these inquiries.
Select Committee findings are reported to the Commons, printed, and published on the Parliament website. The government then usually has 60 days to reply to the committee's recommendations.
11 Members of the Treasury Committee
Treasury Committee Member since 9th September 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 9th December 2024
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee: Upcoming Events
Spring Statement 2026
10 Mar 2026, 2 p.m.
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Spring Statement 2026
11 Mar 2026, 9:30 a.m.
View calendar - Save to Calendar
Treasury Committee: 14 Current Inquiries
Treasury Committee: Previous Inquiries
50 most recent Written Questions
(View all written questions)The Office for Budget Responsibility produce forecasts of future tax receipts as part of its Economic and Fiscal Outlook. The latest Economic and Fiscal outlook was published at the Spring Forecast and it included forecast tax receipts for the next five years.
Chief Secretary to the Treasury
Since the General Election, productivity has risen by more than twice as much as it did in the whole of the last Parliament. The Government has increased capital spending by an additional £120 billion - the highest level in four decades – delivering major new investment in transport, housing, energy and R&D. Departments are set to deliver nearly £14 billion of efficiency savings by 2028-29.
Chief Secretary to the Treasury
The Government accepted all but one of the independent review’s recommendations and in some cases we are going further. We are legislating a generous new settlement opportunity that will help those who have not yet settled to do so.
Most individuals could see reductions of at least 50% in their outstanding loan charge liabilities, and an estimated 30% of individuals could have these liabilities written off entirely.
Exchequer Secretary (HM Treasury)
The Government accepted all but one of the independent review’s recommendations and in some cases we are going further. We are legislating a generous new settlement opportunity that will help those who have not yet settled to do so.
Most individuals could see reductions of at least 50% in their outstanding loan charge liabilities, and an estimated 30% of individuals could have these liabilities written off entirely.
Exchequer Secretary (HM Treasury)
Installations of qualifying energy-saving materials or ‘ESMs’ in residential accommodation and buildings used solely for a charitable purpose benefit from a VAT zero-rate until March 2027.
We constantly evaluate whether to add ESMs, including heat batteries, to this relief. Any decisions would be announced by the Chancellor at a fiscal event, having assessed any change against the context of the overall public finances.
Exchequer Secretary (HM Treasury)
The UK is committed to ensuring inclusive and effective international tax cooperation, and has been actively engaging in negotiations at the UN over a future Framework Convention.
The UK believes a UN Tax Framework Convention has the potential to further advance international tax cooperation, but to be successful, it needs to be clear in its aims, avoid duplicating initiatives, and seek to secure the broad support and participation of members.
Exchequer Secretary (HM Treasury)
Exchequer Secretary (HM Treasury)
The Government has announced a £4.3 billion business rates support package to protect ratepayers from large overnight increases in bills.
In addition, the Government is introducing permanently lower multipliers for eligible RHL properties. These are worth almost £1 billion per year, and will benefit over 750,000 properties.
On top of this, pubs and live music venues will also benefit from 15% off their new business rates bills, ahead of their bills being frozen in real terms for a further two years. Three-quarters of pubs will see bills flat or falling in April. The new relief is worth £1,650 for the average pub next year. As a sector pubs will pay 8% less in business rates in 2029 than they do right now.
Pubs in rural areas may also benefit from either Rural Rate Relief or Small Business Rate Relief (SBRR). Rural Rate Relief aims to ensure that key amenities are available and community assets are protected in rural areas. It provides 100% rate relief for properties that are based in eligible rural areas with populations below 3,000. Around a third of properties in England pay no business rates because of SBRR.
The Government will also launch a review which will explore how pubs are valued for business rates.
Exchequer Secretary (HM Treasury)
This information is not available on a monthly basis and figures for December cannot be provided.
The number of individuals in the Income Tax rate bands, Basic and Higher rate, for tax years 2021 to 2022 and 2025 to 2026 is published in HMRC’s accredited official statistics. Updated forecasts are published in the OBR’s March 2026 Economic and fiscal outlook.
Projected estimates for the 2025 to 2026 tax year in HMRC's statistics are based upon the 2022 to 2023 Survey of Personal Incomes using economic assumptions consistent with the OBR’s March 2025 Economic and Fiscal Outlook.
Exchequer Secretary (HM Treasury)
The Valuation Operating System for Council Tax was launched in 2025 and supports all Council Tax work in England and Wales, including the High Value Council Tax Surcharge
Exchequer Secretary (HM Treasury)
HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK which includes data on imports of fish and fisheries products, wool and meat products from the Falkland Islands. HMRC releases this information monthly, as an Accredited National Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).
From this website, it is possible to build your own data tables based upon bespoke search criteria. To use the tables, you will need the commodity codes for fish, fisheries products, wool and meat products. These codes are publicly available from the UK Trade Tariff at https://www.gov.uk/trade-tariff . Fish are classified within Chapter 03 of the Tariff, wool is found within Chapter 51 and fisheries and meat products within Chapter 16.
The data on the website will, within limitations, tell you the total value of imports of these products into the UK from the Falklands Islands. It includes value and weight (kg) of imports. However, it will not identify individual items as this could identify individual importers. This would be in conflict with Section 18 of the Commissioners for Revenue and Customs Act 2005 (CRCA). CRCA restricts the information that HMRC may disclose publicly on persons making imports and exports.
If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.
Exchequer Secretary (HM Treasury)
HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK. HMRC releases imports and exports information monthly, as an Accredited Official Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).
From this website, it is possible to build your own data tables based upon bespoke search criteria. To use the tables, you will need the commodity codes for crayfish, lobster and fish products. These codes are publicly available from the UK Trade Tariff at https://www.gov.uk/trade-tariff. Lobster and crayfish are classified to Chapter 03 of the Tariff and fish products are classified within Chapter 16.
The data on the website will, within limitations, tell you the total value of imports of these products into the UK. It includes value and weight (kg) of imports and exports. However, it will not identify individual items as this could identify individual importers or exporters. This would be in conflict with Section 18 of the Commissioners for Revenue and Customs Act 2005 (CRCA). CRCA restricts the information that HMRC may disclose publicly on persons making imports and exports.
It will not be possible to distinguish imports and exports specifically from or to Tristan Da Cunha because for trade statistics purposes the territory of “Tristan Da Cunha” is included and grouped together with imports from and exports to Saint Helena, Tristan Da Cunha and other islands in this area.
If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.
Exchequer Secretary (HM Treasury)
At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since the pandemic, which has led to significant increases in rateable values for some properties as they recover from the pandemic.
In recognition of the impact of the revaluation on bills, the Government introduced a support package worth £4.3 billion, to protect against ratepayers seeing large overnight increases in bills. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down next year. This also means most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.
Exchequer Secretary (HM Treasury)
HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK. HMRC releases imports and exports information monthly, as an Accredited Official Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com).
From this website, it is possible to build your own data tables based upon bespoke search criteria. To use the tables, you will need the commodity codes for coffee, fish and fish products. These codes are publicly available from the UK Trade Tariff at https://www.gov.uk/trade-tariff. Coffee is classified to Chapter 09 of the Tariff, fish are classified to Chapter 03 and fish products are classified within Chapter 16.
The data on the website will, within limitations, tell you the total value of imports and exports of these products into and out of the UK. It includes the value and weight (kg) of imports and exports. However, it will not identify individual items as this could identify individual importers or exporters. This would be in conflict with Section 18 of the Commissioners for Revenue and Customs Act 2005 (CRCA). CRCA restricts the information that HMRC may disclose publicly on persons making imports and exports.
It will not be possible to distinguish imports and exports specifically from or to Saint Helena because for trade statistics purposes the territory of “St Helena” includes imports from and exports to Saint Helena, Tristan da Cunha and other islands in this area.
If you need help or support in constructing a table from the data on uktradeinfo, please contact uktradeinfo@hmrc.gov.uk.
Exchequer Secretary (HM Treasury)
At Budget 2024 the Government announced a new independent review of the loan charge. The purpose of the review was to bring the matter to a close for people who have not settled and paid their loan charge liabilities. The review identified affordability as a key barrier preventing those individuals from settling and made recommendations to remove this barrier.
The Government has gone further in supporting people on the lowest incomes by providing an additional £5,000 deduction for those in scope of the review. This entirely removes approximately 10,000 individuals from the charge and reduces liabilities for the vast majority. Most others will see their liabilities reduced by at least half.
Under the review recommendations, an individual earning £30,000 who used a disguised remuneration scheme for three years would have their liability reduced by 66 percent. Under the Government’s plans, they will instead see 89 percent written off. It represents the Government’s attempt to provide a fair route to resolution for those who have not settled with HMRC. In turn, those people need to come forward and engage with HMRC in good faith.
Exchequer Secretary (HM Treasury)
At Budget 2024 the Government announced a new independent review of the loan charge. The purpose of the review was to bring the matter to a close for people who have not settled and paid their loan charge liabilities. The review identified affordability as a key barrier preventing those individuals from settling and made recommendations to remove this barrier.
The Government has gone further in supporting people on the lowest incomes by providing an additional £5,000 deduction for those in scope of the review. This entirely removes approximately 10,000 individuals from the charge and reduces liabilities for the vast majority. Most others will see their liabilities reduced by at least half.
Under the review recommendations, an individual earning £30,000 who used a disguised remuneration scheme for three years would have their liability reduced by 66 percent. Under the Government’s plans, they will instead see 89 percent written off. It represents the Government’s attempt to provide a fair route to resolution for those who have not settled with HMRC. In turn, those people need to come forward and engage with HMRC in good faith.
Exchequer Secretary (HM Treasury)
HMRC does not routinely share compliance data where its disclosure may undermine current or future enforcement action.
HMRC takes a risk and intelligence-based approach to enforcement of trade obligations relating to the movement of goods.
Since the introduction of the arrangements concerning goods movements into and out of Northern Ireland, HMRC has worked closely with the Trader Support Service (TSS) to ensure that traders understand their obligations, are offered support to meet them, and that proportionate steps are taken to enforce their compliance.
Exchequer Secretary (HM Treasury)
The Chancellor of the Exchequer has regular discussions with officials, external experts and ministerial colleagues on a range of issues, including national security, defence and resilience. This includes attending and speaking at public and sector events.
Chief Secretary to the Treasury
Childminders make a significant contribution to children’s development, learning, and wellbeing. The Government has eased rules on working from schools and community centres and increased early years funding rates above 2023 average fees. These increases reflect increased costs, and from April 2026, local authorities must pass at least 97 per cent of funding to providers.
Only a small proportion of childminders with qualifying income over £50,000 will be mandated into Making Tax Digital (MTD) for income tax from April 2026. Childminders moving to MTD for income tax can continue to claim tax relief for household costs, wear and tear of household items and furniture, and food and drink, by deducting actual business costs. This ensures childminders receive tax relief for all of the costs that they incur in relation to their childminding business.
The Government will monitor the impact of MTD for income tax on childminders and other home-based childcare providers in the same way as it will for all sole traders moving to MTD for income tax.
Exchequer Secretary (HM Treasury)
The government is committed to the long-term future of the aviation sector in the UK and recognises the benefits of the connectivity it creates between the UK and the rest of the world.
The Government is clear that APD is an appropriate tax that ensures airlines make a fair contribution to the public finances, particularly given that tickets are VAT free and aviation fuel incurs no duty. The Chancellor makes decisions on tax policy at fiscal events, including with regards to the international context
The government introduced a transitional relief scheme to support all businesses, which airports will benefit from. We have also published a Call for Evidence exploring concerns airports have raised around the 'Receipts and Expenditure' valuation methodology and its impact on long-term investment.
To provide long term predictability and stability for the sector, the Government has published a Call for Evidence exploring concerns 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. Through this call for evidence, the government will seek to address issues raised ahead of the 2029 revaluation.
Exchequer Secretary (HM Treasury)
Producing an answer to this question would be a significant analytical task at disproportionate cost.
We will continue to keep the terms of the system under review to ensure the system protects taxpayers and students now and in the future.
Chief Secretary to the Treasury
The National Wealth Fund (NWF) identifies investment opportunities across the UK and has dedicated directors in each of the four nations to support its view of markets across the country.
Information on the geographic spread of NWF investments can be found in their 2025 Impact Report available on their website.
Chief Secretary to the Treasury
Jim McMahon
(Labour (Co-op) - Oldham West, Chadderton and Royton)
The conditions for making an application to pay Capital Gains Tax by instalments are set out within HMRC’s Capital Gains Manual at CG14910, available at GOV.UK. HMRC has confirmed to the employee ownership sector that this guidance applies to disposals to Employee Ownership Trusts, in the same way as for any other disposal.
A Self-Assessment tax return helpsheet on Employee Ownership Trusts will also be made available on GOV.UK from April 2026. This helpsheet will set out the process for applying to pay tax by instalments following disposals to Employee Ownership Trusts.
Exchequer Secretary (HM Treasury)
Jim McMahon
(Labour (Co-op) - Oldham West, Chadderton and Royton)
The conditions for making an application to pay Capital Gains Tax by instalments are set out within HMRC’s Capital Gains Manual at CG14910, available at GOV.UK. HMRC has confirmed to the employee ownership sector that this guidance applies to disposals to Employee Ownership Trusts, in the same way as for any other disposal.
A Self-Assessment tax return helpsheet on Employee Ownership Trusts will also be made available on GOV.UK from April 2026. This helpsheet will set out the process for applying to pay tax by instalments following disposals to Employee Ownership Trusts.
Exchequer Secretary (HM Treasury)
As Local Authorities are not required to report the business rates revenue they raise from different types of properties, the Government does not hold this data.
More broadly, properties that are wholly or mainly used for a charitable purpose benefit from 80% business rates relief. Local Authorities can, at their discretion, top this up to 100% relief from business rates.
Exchequer Secretary (HM Treasury)
Currently, properties which are wholly or mainly used for charitable purposes, including community amateur sports clubs, are eligible for charitable relief, which provides businesses with up to 80% off their business rates bills. Provision of further relief to charitable properties is at the discretion of local authorities.
Exchequer Secretary (HM Treasury)
HMRC recognises that payments to customers are important, therefore claims are processed as priority post. HMRC aims to process 80% of priority post received within 15 working days.
Customer correspondence performance is reported monthly and quarterly through HMRC’s published performance updates at: www.gov.uk/government/collections/hmrc-quarterly-performance-updates.
HMRC continues to invest in automation and to review their internal processes to ensure overpayments relief claims are issued in a timely manner.
Exchequer Secretary (HM Treasury)
Victoria Collins
(Liberal Democrat - Harpenden and Berkhamsted)
A population estimate for the number of individuals who pay voluntary class 2 National Insurance contributions abroad is being published on the 12 March 2026, in the Tax Information and Impact note for the Voluntary National Insurance contributions abroad changes announced at Budget 2025.
Parliamentary Secretary (HM Treasury)
The Government has defined in guidance which properties will be eligible for the relief announced on 27th January 2026 based on definitions used previously in the business rates system. Individual Local Authorities will need to determine which properties meet these definitions. Some comedy clubs may be eligible for the relief, depending on their specific circumstances.
Properties that are not eligible for this support will still benefit from the wider business rate support package announced at the Budget, worth £4.3 billion over the next three years. The Government is also introducing new permanently lower multipliers for eligible retail, hospitality and leisure properties, which includes comedy venues, gyms and leisure businesses open to the public and with rateable values below £500,000. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down next year. This also means most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.
Exchequer Secretary (HM Treasury)
The Government has defined in guidance which properties will be eligible for the relief announced on 27th January 2026 based on definitions used previously in the business rates system. Individual Local Authorities will need to determine which properties meet these definitions. Some comedy clubs may be eligible for the relief, depending on their specific circumstances.
Properties that are not eligible for this support will still benefit from the wider business rate support package announced at the Budget, worth £4.3 billion over the next three years. The Government is also introducing new permanently lower multipliers for eligible retail, hospitality and leisure properties, which includes comedy venues, gyms and leisure businesses open to the public and with rateable values below £500,000. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down next year. This also means most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.
Exchequer Secretary (HM Treasury)
VAT is a broad-based tax on consumption and the 20 per cent standard rate applies to most goods and services. VAT is the UK’s third largest tax, forecast to raise £180 billion in 2025/26. Taxation is a vital source of revenue that helps to fund vital public services including schools and hospitals.
Charities already benefit from a reduced (5%) or zero rate of tax when purchasing some goods and services. More information about VAT relief for charities can be found here: VAT for charities: What qualifies for VAT relief - GOV.UK. The Government has no plans to broaden this list of goods and services to include social media advertising, but takes steps elsewhere in the tax system to ensure that charities receive treatment that takes account of their unique status and invaluable contribution.
Our tax regime for charities, including gift aid and an exemption from paying business rates, is among the most generous of anywhere in the world, with tax reliefs for charities and their donors worth just over £6 billion for the tax year to April 2024.
Exchequer Secretary (HM Treasury)
VAT is a broad-based tax on consumption and the 20 per cent standard rate applies to most goods and services. VAT is the UK’s third largest tax, forecast to raise £180 billion in 2025/26. Taxation is a vital source of revenue that helps to fund vital public services including schools and hospitals.
Charities already benefit from a reduced (5%) or zero rate of tax when purchasing some goods and services. More information about VAT relief for charities can be found here: VAT for charities: What qualifies for VAT relief - GOV.UK. The Government has no plans to broaden this list of goods and services to include social media advertising, but takes steps elsewhere in the tax system to ensure that charities receive treatment that takes account of their unique status and invaluable contribution.
Our tax regime for charities, including gift aid and an exemption from paying business rates, is among the most generous of anywhere in the world, with tax reliefs for charities and their donors worth just over £6 billion for the tax year to April 2024.
Exchequer Secretary (HM Treasury)
Victoria Collins
(Liberal Democrat - Harpenden and Berkhamsted)
The Government recognises the important role the hospitality sector plays both in terms of its economic contribution but also to our culture.
That is why we are delivering a long overdue reform to rebalance the business rates system and support the high street businesses, as promised in our manifesto. We are introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties which are worth nearly £900 million per year and will benefit over 750,000 properties.
This Government has worked closely with the hospitality sector. We announced the first National Licensing Policy Framework and are working to ensure local authorities apply it consistently to ease licensing decisions ‘on the ground’. We have extended opening hours for Home Nations games in the later stages of the Men’s Football World Cup. We will also legislate to increase the number of Temporary Events Notices venues can hold, helping them screen further national moments and host community and cultural events.
In addition, we are more than doubling the Hospitality Support Fund to £10 over three years, ending upward-only rent review clauses and introducing a strong Community Right to Buy.
We will continue to work with the hospitality sector to develop a new cross-government High Streets Strategy to help businesses in Harpenden and Berkhamsted, and across the country, to remain the centre of local communities.
Exchequer Secretary (HM Treasury)
Sammy Wilson
(Democratic Unionist Party - East Antrim)
As announced at Budget 2025, the government is considering the feasibility and impacts of including refined products in the Carbon Border Adjustment Mechanism (CBAM) in future.
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.
Exchequer Secretary (HM Treasury)
Yes - funding allocated to the Listed Places of Worship Grant Scheme in England is treated as comparable expenditure for the purposes of calculating Barnett consequentials for Scotland.
Chief Secretary to the Treasury
The Block Grant Transparency publication breaks down all changes in the Northern Ireland Executives block grant funding from the 2015 Spending Review up to and including Spending Review 2025.
The most recent report was published in October 2025:
Block Grant Transparency: October 2025 - GOV.UK
Chief Secretary to the Treasury
HMRC has worked collaboratively with a broad range of charity sector stakeholders to explore the potential of Future of Gift Aid (FOGA). This work included extensive research and analysis of the implications of FOGA and the effectiveness of the existing Gift Aid system.
HMRC has not made a formal quantitative assessment of the administrative costs to charities arising from the current Gift Aid process. HMRC will continue to engage with the charities sector to improve the way that Gift Aid works through the use of digital technology.
Exchequer Secretary (HM Treasury)
HMRC has worked collaboratively with a broad range of charity sector stakeholders to explore the potential of Future of Gift Aid (FOGA). This work included extensive research and analysis of the implications of FOGA and the effectiveness of the existing Gift Aid system.
HMRC has not made a formal quantitative assessment of the administrative costs to charities arising from the current Gift Aid process. HMRC will continue to engage with the charities sector to improve the way that Gift Aid works through the use of digital technology.
Exchequer Secretary (HM Treasury)
Victoria Collins
(Liberal Democrat - Harpenden and Berkhamsted)
The changes to voluntary National Insurance contributions policy announced at Budget retain routes for individuals living outside of the UK to fill gaps in their NI records by paying Class 3 NICs, which allows individuals to continue to build entitlement to the UK State Pension.
This includes transitional arrangements for existing voluntary Class 2 and 3 customers to not be subject to the new 10-year qualifying conditions.
The removal of access to voluntary Class 2 NICs applies for the 2026/27 tax year onwards, and does not affect the ability of any customer to pay voluntary Class 2 NICs for periods abroad prior to 6 April 2026.
Parliamentary Secretary (HM Treasury)
A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer National Insurance contributions (NICs). The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts. The TIIN is available at the following link: https://www.gov.uk/government/publications/changes-to-the-class-1-national-insurance-contributions-secondary-threshold-the-secondary-class-1-national-insurance-contributions-rate-and-the-empl
The Government decided to protect the smallest businesses from the changes to employer NICs by increasing the Employment Allowance from £5,000 to £10,500. This means that this tax year, 865,000 employers will pay no NICs at all, and more than half of all employers will either gain or will see no change.
Financial Secretary (HM Treasury)
The Government has announced a £4.3 billion business rates support package to protect ratepayers across all sectors seeing large bill increases. This includes an expanded supporting small business scheme to support ratepayers losing retail, hospitality and leisure (RHL) relief in April 2026.
In addition, the Government is introducing permanently lower tax multipliers for eligible RHL properties. These are worth almost £1 billion per year, and will benefit over 750,000 properties.
On top of this, pubs and live music venues will also benefit from 15% off their new business rates bills, ahead of their bills being frozen in real terms for a further two years.
As a result, over half of ratepayers will see no bill increases next year, including 23% seeing their bills go down. Government support also means that most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest properties.
Financial Secretary (HM Treasury)
This Government is committed to ensuring that every penny of public money is spent wisely, driving out low value spending and ensuring the state becomes more productive.
At Spending Review 2025, the Government announced that it would deliver total annual efficiency gains of almost £14 billion by 2028-29. It published departments’ efficiency targets and plans, allowing external scrutiny and public accountability.
At the Budget in November 2025, the Government committed to going further on efficiency and savings by delivering an additional £2.8 billion savings in 2028-29 and £5 billion by 2030-31. Alongside this, the Chief Secretary to the Treasury is leading a suite of reviews to drive value for money across government spending.
The Government has recently published an updated Green Book, the UK government guidance on appraisal and value for money. It has also started to publish business cases for major projects, meaning the public can be confident that taxpayers’ money is being spent on projects that deliver best possible value.
Financial Secretary (HM Treasury)
As required by the Sovereign Grant Act 2011, the next review of the Sovereign Grant will take place this year. In addition, the Government has committed to bring forward legislation to reset the Grant to a lower level from 2027-28 once Buckingham Palace reservicing works are completed.
Financial Secretary (HM Treasury)
The government does not comment on individual firms’ commercial activities.
In 2024, the government delivered the Public Offers and Admissions to Trading Regulations which enabled the Financial Conduct Authority (FCA) to reform the UK Prospectus Regime to make it simpler and more effective. This new regime took effect on 19 January 2026, and will give investors access to better quality information to support their investment decisions.
The regulations also created a new regulated activity of operating a Public Offer Platform (POP). Companies seeking to make public offers of securities outside a public market to a broad investor base, where the value exceeds £5 million, will now need to do so via a POP, ensuring investors receive better information about their investments.
Economic Secretary (HM Treasury)
The government does not comment on individual firms’ commercial activities.
In 2024, the government delivered the Public Offers and Admissions to Trading Regulations which enabled the Financial Conduct Authority (FCA) to reform the UK Prospectus Regime to make it simpler and more effective. This new regime took effect on 19 January 2026, and will give investors access to better quality information to support their investment decisions.
The regulations also created a new regulated activity of operating a Public Offer Platform (POP). Companies seeking to make public offers of securities outside a public market to a broad investor base, where the value exceeds £5 million, will now need to do so via a POP, ensuring investors receive better information about their investments.
Economic Secretary (HM Treasury)
The Government recognises the importance of ensuring that the cost of accepting payments, including cards, is fair to all parties, and that our payment systems work for all.
The Payment Systems Regulator (PSR), the UK’s economic regulator for payments, has recently concluded two market reviews into card fees to assess if increases in prices are fair and reflect a market that is operating well. The PSR is now considering its next steps, including remedies designed to increase the transparency of scheme and processing fees.
https://www.psr.org.uk/our-work/market-reviews/
There are a number of fees that can be placed on merchants, including interchange fees which are governed by the Interchange Fee Regulations 2015 (IFR). The IFR caps the fees that are paid by a merchant (or trader) to the card user’s bank. The caps are currently set at 0.2% for every transaction using a debit card, and 0.3% for credit card transactions.
The Government is also committed to ensuring that payment options remain affordable and accessible for small businesses, including through measures that promote competition and reduce unnecessary costs. The National Payments Vision, published in November 2024, sets out the Government’s ambitions for a trusted, world-leading payments ecosystem delivered on next generation technology, where consumers and businesses have a choice of payment methods to meet their needs.
This included the ambition for seamless account-to-account payments to be developed as a ubiquitous payment method – enabling consumers to pay digitally for goods and services in shops and online, without using a card. This would provide greater choice to consumers and merchants in how they make and receive payments, which in turn is likely to spur innovation and downward competitive pressure on the cost of payments.
Economic Secretary (HM Treasury)
The Government recognises the importance of ensuring that the cost of accepting payments, including cards, is fair to all parties, and that our payment systems work for all.
The Payment Systems Regulator (PSR), the UK’s economic regulator for payments, has recently concluded two market reviews into card fees to assess if increases in prices are fair and reflect a market that is operating well. The PSR is now considering its next steps, including remedies designed to increase the transparency of scheme and processing fees.
https://www.psr.org.uk/our-work/market-reviews/
There are a number of fees that can be placed on merchants, including interchange fees which are governed by the Interchange Fee Regulations 2015 (IFR). The IFR caps the fees that are paid by a merchant (or trader) to the card user’s bank. The caps are currently set at 0.2% for every transaction using a debit card, and 0.3% for credit card transactions.
The Government is also committed to ensuring that payment options remain affordable and accessible for small businesses, including through measures that promote competition and reduce unnecessary costs. The National Payments Vision, published in November 2024, sets out the Government’s ambitions for a trusted, world-leading payments ecosystem delivered on next generation technology, where consumers and businesses have a choice of payment methods to meet their needs.
This included the ambition for seamless account-to-account payments to be developed as a ubiquitous payment method – enabling consumers to pay digitally for goods and services in shops and online, without using a card. This would provide greater choice to consumers and merchants in how they make and receive payments, which in turn is likely to spur innovation and downward competitive pressure on the cost of payments.
Economic Secretary (HM Treasury)
The Government recognises the importance of ensuring that the cost of accepting payments, including cards, is fair to all parties, and that our payment systems work for all.
The Payment Systems Regulator (PSR), the UK’s economic regulator for payments, has recently concluded two market reviews into card fees to assess if increases in prices are fair and reflect a market that is operating well. The PSR is now considering its next steps, including remedies designed to increase the transparency of scheme and processing fees.
https://www.psr.org.uk/our-work/market-reviews/
There are a number of fees that can be placed on merchants, including interchange fees which are governed by the Interchange Fee Regulations 2015 (IFR). The IFR caps the fees that are paid by a merchant (or trader) to the card user’s bank. The caps are currently set at 0.2% for every transaction using a debit card, and 0.3% for credit card transactions.
The Government is also committed to ensuring that payment options remain affordable and accessible for small businesses, including through measures that promote competition and reduce unnecessary costs. The National Payments Vision, published in November 2024, sets out the Government’s ambitions for a trusted, world-leading payments ecosystem delivered on next generation technology, where consumers and businesses have a choice of payment methods to meet their needs.
This included the ambition for seamless account-to-account payments to be developed as a ubiquitous payment method – enabling consumers to pay digitally for goods and services in shops and online, without using a card. This would provide greater choice to consumers and merchants in how they make and receive payments, which in turn is likely to spur innovation and downward competitive pressure on the cost of payments.
Economic Secretary (HM Treasury)