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
Monday 8th December 2025
Select Committee Docs
Wednesday 3rd December 2025
14:15
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
Tuesday 9th December 2025
No title given
To ask the Chancellor of the Exchequer, how many people will receive the increased National Minimum Wage.
Secondary Legislation
Tuesday 2nd December 2025
Van Benefit and Car and Van Fuel Benefit Order 2025
This Order amends sections 150(1), 155(1B)(b), and 161(b) of the Income Tax (Earnings and Pensions) Act 2003 (c. 1) (“the …
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
Tuesday 9th December 2025
15:17
Terms of Reference: Alex Depledge MBE
News and Communications

HM Treasury Commons Appearances

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

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

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

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

Most Recent Commons Appearances by Category
Nov. 04
Oral Questions
Nov. 17
Urgent Questions
Nov. 11
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

This Order amends sections 150(1), 155(1B)(b), and 161(b) of the Income Tax (Earnings and Pensions) Act 2003 (c. 1) (“the Act”).
The Regulations amend Part 8C of the Corporation Tax Act 2010 (“CTA 2010”) which was inserted into the CTA 2010 by section 38(3) of Finance (No. 2) Act 2015. Part 8C applies a corporation tax rate of 45% to payments of restitution interest made by the Commissioners for His Majesty’s Revenue and Customs (“HMRC”).
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
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 6 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.

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 - Oral evidence
Bank of England Monetary Policy Reports
9 Dec 2025, 2 p.m.
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Budget 2025
10 Dec 2025, 9:45 a.m.
View calendar - Save to Calendar
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

3rd Dec 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of reducing child poverty on the economy.

The Child Poverty Action Group estimate the cost to the country at £40bn per year, which is one of the reasons why the government is removing the two-child limit and lifting 550,000 children out of poverty in the final year of this Parliament.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, whether the Office for National Statistics holds data on the number of dwellings in each council tax band by (a) Parliamentary constituency, (b) local authority ward or division or polling district, (c) Lower layer Super Output Areas and (d) Middle layer Super Output Areas, in (i) England and (ii) Wales.

The Office for National Statistics does not publish this data.

The Valuation Office Agency (VOA) publish Council Tax statistics on gov.uk.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, how many people will receive the increased National Minimum Wage.

From 1 April 2026, around 2.7m low-paid workers are expected to benefit from the uplifts to the National Living Wage and National Minimum Wage.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of reforms to public sector procurement processes on economic growth.

This Government is committed to using procurement strategically to drive growth across the United Kingdom, as set out in the National Procurement Policy Statement published in February.

At Budget the Chancellor went further, announcing that we will reform our approach to procurement so that it can actively shape markets and manage demand in the national interest. The Government has consulted on reforms to public procurement and impact assessments will be undertaken as required.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of the OBR's report entitled Economic and fiscal outlook, published in November 2025.

The OBR’s November 2025 Economic and Fiscal Outlook is a detailed document, and plays a key role in our robust and transparent fiscal framework.

The report shows that growth is up this year, that living standards are up over the Parliament, and that we are getting borrowing and debt down.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, what estimate has the Valuation Office Agency made of the number of appeals that will be made against the high value council tax surcharge.

We recognise the importance of the right to appeal, and the Government will consult on the details of this in the new year.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, whether the high value council tax surcharge will be valued by the Valuation Office Agency by the same assumptions and methodology as current council tax, other than the valuation date.

The Valuation Office Agency are developing their approach to the targeted revaluation and will set out more details in due course, following the outcome of the Government's consultation.

In general, when valuing domestic properties, the VOA uses modern technology and industry standard techniques combined with freely available information including sales data, property attribute details and government records.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, whether the proposed high-value property surcharge in England will generate Barnett-related consequentials for devolved administrations.

There were no changes to UK Government DEL budgets as a result of the High Value Council Tax Surcharge so this policy did not result in Barnett consequentials.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, how many new enquiries were opened into child benefit claims which were suspended from claimants as a result of data-sharing between HMRC and the Home Office in the period 1st to 30th November 2025.

There were no new Child Benefit compliance enquiries opened using Home Office international travel data in the period 1st to 30th November 2025. This is because our focus during that time was on reviewing the c. 23,500 already opened.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to National Insurance contributions on economic growth.

The Government made fair and necessary decisions on tax, welfare, and spending to help fix the public finances and fund public services.

The Government of course carefully considers the impacts of all policies, including the changes to employer National Insurance.

An assessment of the changes announced at Autumn Budget 2024 on Employer National Insurance Contributions was published by HMRC in their Tax Information and Impact Note

Further, the OBR’s October 2024 Economic and Fiscal Outlook sets out the expected macroeconomic impact of the changes to employer National Insurance contributions.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what fiscal steps she is taking with Cabinet colleagues to help lower energy bills.

Energy bills are too high. The previous Government left Britain dependent on the roller coaster of gas prices and left families paying around £1.7 billion on their bills for their failed energy efficiency ‘ECO’ scheme

This is why we are scrapping ECO and taking some of the expensive legacy levies off bills – saving households an average £150 from April.

Torsten Bell
Parliamentary Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what fiscal steps she is taking with Cabinet colleagues to help lower energy bills.

Energy bills are too high. The previous Government left Britain dependent on the roller coaster of gas prices and left families paying around £1.7 billion on their bills for their failed energy efficiency ‘ECO’ scheme

This is why we are scrapping ECO and taking some of the expensive legacy levies off bills – saving households an average £150 from April.

Torsten Bell
Parliamentary Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, what discussions she has had with the Welsh Government on the impact of the income tax threshold freeze on Welsh Rates of Income Tax revenues.

The previous Government made the decision to maintain income tax thresholds at their current levels from April 2021 until April 2028

As agreed between the UK and Welsh Governments, under the existing fiscal framework, the Welsh Government is responsible for 10p in income tax rates, whilst income tax thresholds in Wales remain reserved to the UK Government.

The UK Government has regular discussions with the Welsh Government on their fiscal framework, including the impact of UK Government tax policy changes.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Nov 2025
To ask His Majesty's Government, with regard to the Spending Review 2025, what estimate they used of the amount available from council tax receipts in each year of the Spending Review in (1) England, and (2) Wales, to calculate the 1.7 per cent per year real increase in police spending power over the Spending Review period; and whether they will place a copy of the calculations and data used to produce that figure in the Library of the House.

Police core spending power refers to the projected total police settlement funding for Counter Terrorism Police and Territorial Police. The Spending Review (SR) Phase 2 settlement projected an average 1.7% real terms increase per year in police spending power. Over the SR period, police spending power is projected to increase by an average 2.3% per year in real terms.

Police core spending power includes projected spending from additional income, including estimated funding from the police council tax precept. The final police precept level and core government funding will be set out in the annual police funding settlement in the usual way.

Lord Livermore
Financial Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, if she will publish copies of the redacted statements provided to opposition MPs each budget day in advance of the Chancellor’s statement to the House of Commons in each year since 1997.

Redactions to documents shared in confidence are made for reasons of market sensitivity. The full Budget documentation and the Chancellor’s speech are shared with all MPs as soon as the Chancellor finishes delivering the Budget speech.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, what information her Department holds on the proportion of text redacted in statements provided to hon. Members from opposition parties in advance of the Chancellor’s statement on each Budget day since 1997.

Redactions to documents shared in confidence are made for reasons of market sensitivity. The full Budget documentation and the Chancellor’s speech are shared with all MPs as soon as the Chancellor finishes delivering the Budget speech.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, further to paragraph 1.28 of the OBR, Economic and Fiscal Outlook, November 2025, CP1439, 26 November 2025, how the Government intends to finance the cost of the estimated £14 billion of local authority SEND deficits; and what proportion of accrued deficits will remain with local authorities from 2028-29.

See paragraph 4.94 of Budget 2025: Strong Foundations, Secure Future. https://www.gov.uk/government/publications/budget-2025-document
James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, if she will publish the Treasury’s analysis of how far the uplifts to Welsh Government borrowing and reserve limits restore the real-terms value of those limits since they were set a decade ago.

As announced at Autumn Budget 2025 there will be a 10% increase to annual and cumulative capital borrowing limits and the Wales Reserve overall and annual drawdown limits in 2026-27 which will increase the real value of the Welsh Government’s budget management tools.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, what assessment has she made of the impact of treating 50% of the gain in disposal to trustees of an Employee Ownership Trust as the disposers' chargeable gain for CGT purposes.

At Budget 2025, the Chancellor announced that the relief from Capital Gains Tax available on qualifying disposals to Employee Ownership Trusts will be reduced from 100% to 50%. This will retain a strong incentive for employee ownership, whilst ensuring that business owners pay their fair share of tax. The relief remains more generous than alternative reliefs that individuals might use when disposing of their companies, such as Business Asset Disposal Relief.

An assessment of the impacts can be found in the Tax and Information Note for this measure, here: Capital Gains Tax — Employee Ownership Trusts - GOV.UK

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, pursuant to the answer of 26 June to Question 61930, how many P85 forms have been submitted in each month from May 2025 to date.

The table below shows the number of P85 forms submitted to HMRC electronically from May 2025 to September 2025.

Month

P85 iForms

May 2025

4,500

June 2025

4,500

July 2025

4,900

August 2025

5,200

September 2025

6,300

Figures rounded to 100

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, further to the publication of the draft Rating List of 26 November 2025, if she will publish the changes in average Rateable Values by (a) local authority and (b) region, compared to the previous Rating List, according to information held by the Valuation Office Agency.

Statistics on changes in the rateable value of non-domestic properties as a result of the 2026 Revaluation and publication of the draft 2026 Rating List are published here: Change in rateable value of rating lists, 2026 Revaluation
Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, what estimate her Department has made of the cost to the public purse of Benefit-in-Kind rates for zero-emission company cars.

The Government publishes annual statistics on HMRC’s taxable benefits in kind for company cars and company car fuel. These reports document the number of benefit in kind recipients, the CO2 emissions of company cars and their total taxable value. The latest statistics for the tax year 2023-24 were published in June 2025, and are accessible here:

https://www.gov.uk/government/statistics/benefits-in-kind-statistics-june-2025/benefit-in-kind-statistics-commentary-june-2025(opens in a new tab)

The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events in the context of the public finances.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, if she will review energy support and taxation policy for energy-intensive industries such as quarrying to ensure fair treatment compared with high-carbon sectors like steel and glass.

The government keeps all tax under review as part of the policy making process.

The government is bearing down on business energy prices by reducing Great Britain’s reliance on volatile international gas prices, and through a new framework to scrutinise energy levies, ensuring they are affordable and value-for-money.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Nov 2025
To ask His Majesty's Government what assessment they have made of the impact of legacy IT infrastructure on the ability of UK banks to adopt new financial technology and AI systems.

The Government recognises that legacy IT infrastructure can present challenges for UK banks as they seek to adopt new financial technology and Artificial Intelligence (AI) systems.

However, the Government believes that safe adoption of AI by the financial services sector is a major strategic opportunity, with potential to power growth across the UK. The Government and regulators are taking a ‘pro-innovation’ approach to AI regulation across the economy and in financial services.

The Government is focused on ensuring that the UK’s policy and regulatory environment is fit for purpose to seize the opportunity of our dual strengths in financial services and AI, and positioning the UK as a world leader in the safe adoption of AI in financial services.

The Financial Services Growth and Competitiveness Strategy is an important part of that effort, with the appointment of an AI Champion intended to act as a catalyst for AI adoption and innovation in financial services.

Lord Livermore
Financial Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the impact of energy costs and industrial tariffs on small and medium-sized enterprises in the UK stone and quarrying industry.

The Government continually monitors the UK economy and is bearing down on business energy prices by reducing Great Britain’s reliance on volatile international gas prices, and through a new framework to scrutinise energy levies, ensuring they are affordable and value-for-money.

We know that behind taxation, energy prices are the most cited barrier to growth by SMEs (50%). The Government has a variety of schemes, already in place or due to be launched soon, that either directly support businesses by reducing energy costs or support them to reduce costs by making energy efficiencies and decarbonising. Examples include:

  • The Business Energy Advice Service pilot, which runs until March 2026, supporting SMEs in the West Midlands to reduce their energy demand, reduce their energy bills and in turn decarbonise.
  • Providing funding to improve the UK Business Climate Hub (UKBCH), an online resource which will support SMEs to identify and implement changes to their energy use, resulting in decarbonisation and energy bill savings.

The UK Global Tariff is tailored to the UK economy, and has been designed to balance the interests of consumers and producers, and our wider strategic trade objectives. As with all policy, the Government welcomes feedback and monitors these requests closely.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her policies of the findings of the Office for Budget Responsibility’s Economic Financial Outlook on the potential impact of the new pay-per-mile tax on electric vehicle sales.

As announced at Budget 2025, the Government is introducing Electric Vehicle Excise Duty (eVED) from April 2028. The rate of eVED for EVs will be half of the equivalent fuel duty rate paid by the average petrol/diesel driver, ensuring that EVs are cheaper to own and run for the majority of EV drivers.

As set out by the OBR, the estimated net impact of eVED and other Budget measures, including the ECG and ECS, is 120,000 fewer new EV sales across the forecast period. This is against a baseline which assumes EV sales more than triple from 2025-26 levels by 2030-31, which means the net impact of eVED represents only 2% of total new EV sales in the period.

The Government has set out expected impacts from eVED and other Budget measures in the Budget 2025 Policy Costings document at GOV.UK: https://assets.publishing.service.gov.uk/media/692872fd2a37784b16ecf676/Budget_2025-Policy_Costings.pdf

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, further to paragraph 4.38 of the OBR, Economic and Fiscal Outlook, November 2025, CP1439, 26 November 2025, whether according to information held by HM Treasury, the 10.2 per cent increase in business rate receipts from 2025-26 to 2026-27 is a figure for (a) England, (b) Great Britain or (c) the United Kingdom.

This figure applies to the United Kingdom.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, further to paragraph 4.38 of the OBR, Economic and Fiscal Outlook, November 2025, CP1439, 26 November 2025, whether according to information held by HM Treasury, the 10.2 per cent increase in business rate receipts from 2025-26 to 2026-27 is a figure for (a) England, (b) Great Britain or (c) the United Kingdom.

This figure applies to the United Kingdom.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, with reference to the Budget 2025, HC1492, 26 November 2025, Table 4.1, what is the evidential basis for the reduction in council tax receipts of (a) -£60 million in 2025-26, (b) -£120 million in 2026-27, and (c) -£155 million in 2027-28.

The measure does not reduce Council Tax receipts. Summary of the costing is published here: https://assets.publishing.service.gov.uk/media/692872fd2a37784b16ecf676/Budget_2025-Policy_Costings.pdf

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, what estimate has been made of the value of the tourism levy by mayoral combined authority area.

The precise design and scope of the power for Mayors to introduce a visitor levy if they so choose is still under development.

The Government has published a consultation running until 18 February 2026, so that the public, businesses, and local government can shape the design of the power to introduce a levy that will be devolved to local leaders.

The impacts of the levy, including how much it will raise, will largely be determined by local decisions. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals. We expect Mayors to engage constructively with businesses and their communities to hear their concerns. This will inform their decisions regarding whether and how a levy will be applied and how any revenue is raised. Giving this power to local leaders who best understand their region enables them to tailor it to growing their local economies.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
27th Nov 2025
To ask the Chancellor of the Exchequer, further to Question 93370, if she will commission from HMRC an analysis of the tax contribution of the British nationals the ONS estimates have left the UK since July 2024.

HMRC does not hold data on all income sources of all individuals that have left the UK, and incomes of individuals vary each year. Individuals who have chosen to leave the UK may still be liable to pay tax in the UK.

HMRC published analysis on Income Tax Liabilities and Statistics annually. Income Tax statistics and distributions - GOV.UK

Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, further to the written statement of 25 November 2025, HCWS1097, on Devolution and Growth, and further to the Visitor levy policy paper published on 26 November 2025, whether the levy measure will be classed by the Government as a tax; and whether there is a Tax Information Notice to accompany the measure.

The precise design and scope of a devolved power for Mayors to introduce an overnight visitor levy if they so choose is under development. The Government has published a consultation running until 18 February 2026, so that the public, businesses, and local government can inform and help shape the design of the devolved power.

A Tax Information and Impact Note (TIIN) has not been published. TIINs usually accompany legislation for tax measures administered by central government.

The impacts of the levy will largely be determined by local decisions. Mayors will decide whether to introduce a levy and, if so, consult on specific proposals.

Following consultation, we expect Mayors would publish a summary of the consultation results and their response, including a final prospectus, and an impact assessment, informed by the consultation.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 3 December 2025 to Question 95420 on Defence: Finance, whether she has a timetable for spending 3 per cent of GDP on defence.

We are set to spend 2.6 percent of GDP on defence spending in 2027, with an ambition to spend 3 percent of GDP on defence next Parliament when economic and fiscal conditions allow.

James Murray
Chief Secretary to the Treasury
4th Dec 2025
To ask the Chancellor of the Exchequer, what percentage of GDP will be spent on the MOD budget in the financial year that NATO declared defence spending will increase to 3 per cent of GDP.

We are set to spend 2.6 percent of GDP on defence spending in 2027, with an ambition to spend 3 percent of GDP on defence next Parliament when economic and fiscal conditions allow.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, what recent assessment she has made of the effect of higher-than-forecast inflation and pay growth on devolved governments’ capacity to fund public sector pay settlements.

Public sector pay is a devolved responsibility. This means it is for the devolved governments to decide how to allocate the funding they receive across their areas of responsibility, including public sector pay.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, whether she plans to provide additional support to devolved governments for public sector pay costs.

Public sector pay is a devolved responsibility. This means it is for the devolved governments to decide how to allocate the funding they receive across their areas of responsibility, including public sector pay.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, to publish a breakdown of the spending decisions in England that generated the £508 million of Barnett consequentials for Wales at the 2025 Autumn Budget.

As a result of decisions at Budget 2025, the Welsh Government will receive an additional £320 million RDEL and £185m CDEL through the operation of the Barnett formula on top of the record settlement provided at Spending Review 2025. This means that the Welsh Government’s settlement continues to grow in real terms between 2024-25 and 2028-29.

The Welsh Government are free to allocate Barnett consequentials as they see fit across their devolved priorities

Where policy changes will take effect in years beyond the existing Spending Review 2025 period, the Barnett formula will apply when departmental budgets change at the next Spending Review.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of front-loaded Barnett consequentials on the Welsh Government’s medium-term financial planning.

As a result of decisions at Budget 2025, the Welsh Government will receive an additional £320 million RDEL and £185m CDEL through the operation of the Barnett formula on top of the record settlement provided at Spending Review 2025. This means that the Welsh Government’s settlement continues to grow in real terms between 2024-25 and 2028-29.

The Welsh Government are free to allocate Barnett consequentials as they see fit across their devolved priorities

Where policy changes will take effect in years beyond the existing Spending Review 2025 period, the Barnett formula will apply when departmental budgets change at the next Spending Review.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of planned reductions in departmental spending after 2028 on the Welsh block grant during the next Senedd term.

As a result of decisions at Budget 2025, the Welsh Government will receive an additional £320 million RDEL and £185m CDEL through the operation of the Barnett formula on top of the record settlement provided at Spending Review 2025. This means that the Welsh Government’s settlement continues to grow in real terms between 2024-25 and 2028-29.

The Welsh Government are free to allocate Barnett consequentials as they see fit across their devolved priorities

Where policy changes will take effect in years beyond the existing Spending Review 2025 period, the Barnett formula will apply when departmental budgets change at the next Spending Review.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the planned £4.9 billion in efficiencies and savings in 2030–31 on devolved governments’ budgets.

As a result of decisions at Budget 2025, the Welsh Government will receive an additional £320 million RDEL and £185m CDEL through the operation of the Barnett formula on top of the record settlement provided at Spending Review 2025. This means that the Welsh Government’s settlement continues to grow in real terms between 2024-25 and 2028-29.

The Welsh Government are free to allocate Barnett consequentials as they see fit across their devolved priorities

Where policy changes will take effect in years beyond the existing Spending Review 2025 period, the Barnett formula will apply when departmental budgets change at the next Spending Review.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, whether she has had recent discussions with Anas Sarwar MSP on the higher rate of the Energy Profits Levy since 30 October 2024.

The Chancellor regularly meets different stakeholders, including those from Scottish Labour, to discuss a range of policy issues.
Dan Tomlinson
Exchequer Secretary (HM Treasury)
1st Dec 2025
To ask the Chancellor of the Exchequer, whether her Department has had discussions on further fiscal devolution with Ministers in the Northern Ireland Department of Finance during this current Stormont mandate.

HM Treasury and Northern Ireland Executive Ministers have regular discussions.

The Northern Ireland Executive’s Interim Fiscal Framework published in May 2024 stated that a full Fiscal Framework would consider the principles of fiscal devolution.

The scope and scale of the full Fiscal Framework will be subject to agreement between the UK Government and the Northern Ireland Executive.

James Murray
Chief Secretary to the Treasury
1st Dec 2025
To ask the Chancellor of the Exchequer, whether the Northern Ireland Department of Finance Minister has submitted fiscal devolution plans to her Department in this current Stormont mandate.

HM Treasury and Northern Ireland Executive Ministers have regular discussions.

The Northern Ireland Executive’s Interim Fiscal Framework published in May 2024 stated that a full Fiscal Framework would consider the principles of fiscal devolution.

The scope and scale of the full Fiscal Framework will be subject to agreement between the UK Government and the Northern Ireland Executive.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, what steps she is taking to reduce Government borrowing.

We need to address the UK’s borrowing and debt, so we spend less on debt interest and more on the priorities of working people.

The government has a credible consolidation plan that ensures borrowing is falling in every year of the forecast. Borrowing this year is set to be the lowest for 6 years.

The government is reducing borrowing while protecting investment, and is maintaining an increase of over £120 billion departmental capital spending over the Parliament.

From 2025 to 2030, the UK is reducing government borrowing more than any other G7 country.

Lucy Rigby
Economic Secretary (HM Treasury)
25th Nov 2025
To ask His Majesty's Government what was the cost of running the Trader Support Service for each of the last three financial years.

The costs of the Trader Support Service by financial year are set out below.

Financial Year

Costs

2022/23

£114.68m

2023/24

£105.19m

2024/25

£88.15m

Lord Livermore
Financial Secretary (HM Treasury)
25th Nov 2025
To ask His Majesty's Government what assessment they have made of feedback from businesses that use the Trader Support Service.

In 2024, the TSS had a customer satisfaction score of 89%. Traders score on information, ease of use, whether they would recommend the service and overall satisfaction. This feedback is used to make improvements to the TSS portal, communications and education materials.

Lord Livermore
Financial Secretary (HM Treasury)
26th Nov 2025
To ask His Majesty's Government what steps they intend to take to remove any financial incentive to commit suicide before April 2026 for elderly farmers, or farmers in poor health, arising from the inheritance tax provisions in the Budget.

The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, fixing the public finances, and funding public services. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

As announced at the Budget in November 2025, any unused £1 million allowance for the 100% rate of agricultural property relief and business property relief will be transferable between spouses and civil partners, including if the first death was before 6 April 2026.

The Government encourages anyone who is concerned about their own mental health, or the mental health of those around them, to seek support. The Government takes mental health support for farmers very seriously. For example, the Department for Environment, Food & Rural Affairs supports farming welfare organisations through funding the Farmer Welfare Grant. The fund, which supports projects in England, is designed to offer tailored support to farmers and their families as well as prevent further cases of poor mental health by helping to build resilience within farming communities.

Lord Livermore
Financial Secretary (HM Treasury)
26th Nov 2025
To ask His Majesty's Government what assessment they have made of the impact of rising input costs, labour costs and taxes on small and medium-sized enterprises in the UK.

The Government continues to monitor the business environment in the UK, including SMEs, using official data and engaging with firms and business groups to inform policy decisions.

The Government set out its overall approach for supporting SMEs in the Small Business Strategy published in July 2025 and built on this with targeted reforms to support small businesses at the Budget in November 2025.

Through our changes to Employer National Insurance Contributions, the threshold at which business start paying Employer NICs has doubled to £10,500.

We are providing support for small businesses in a number of other areas. We are introducing the toughest late payment laws in the G7. We are changing the rules to fully fund SME apprenticeships training costs for eligible people under the age of 25, providing the skills that both workers and businesses need. Through the new Business Growth Service, small businesses will be able to access support with skills training, recruitment, or accessing Start Up Loans and Export Finance.

Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government what estimate they have made of the economic cost of the outages of Amazon Web Services and Microsoft Azure in October.

The Government monitors systemic risks to UK critical national infrastructure, including resilience measures and contingency planning, including cloud providers. The Government recognises the importance of robust protections for the services essential to our society and economy. That is why we introduced the Cyber Security and Resilience Bill on 12 November. The Bill will make sure more types of essential and digital services adhere to robust cyber security practices.

Lord Livermore
Financial Secretary (HM Treasury)