HM Treasury

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



Secretary of State

 Portrait

Rachel Reeves
Chancellor of the Exchequer

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

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

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

Liberal Democrat
Charlie Maynard (LD - Witney)
Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)
Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)
Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
There are no upcoming events identified
Debates
Tuesday 24th February 2026
Select Committee Docs
Tuesday 24th February 2026
14:37
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
Wednesday 25th February 2026
Aviation: Fuels
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of current aviation …
Secondary Legislation
Monday 23rd February 2026
Major Sporting Events (Income Tax Exemption) (Glasgow 2026 Commonwealth Games) Regulations 2026
These Regulations provide for an exemption from income tax for income arising to individuals because of their involvement in 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
Thursday 26th February 2026
09:30

Policy paper

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
Jan. 27
Oral Questions
Feb. 11
Written Statements
Feb. 12
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

HM Treasury does not have Bills currently before Parliament


Acts of Parliament created in the 2024 Parliament

Introduced: 25th June 2025

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

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

Introduced: 13th November 2024

A Bill to make provision about secondary Class 1 contributions.

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

Introduced: 6th November 2024

A Bill to make provision about finance.

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

Introduced: 25th July 2024

A Bill to amend the Crown Estate Act 1961.

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

Introduced: 5th March 2025

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

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

Introduced: 6th November 2024

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

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

Introduced: 18th July 2024

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

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

Introduced: 24th July 2024

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

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

HM Treasury - Secondary Legislation

These Regulations provide for an exemption from income tax for income arising to individuals because of their involvement in the Glasgow 2026 Commonwealth Games that are to be held principally in Glasgow between 23rd July 2026 and 2nd August 2026.
This Order designates the Money and Mental Health Policy Institute as a designated consumer body under section 234C(2) of the Financial Services and Markets Act 2000 (“FSMA 2000”) and a designated representative body under section 68(2) of the Financial Services (Banking Reform) Act 2013 (“FSBRA 2013”).
View All HM Treasury Secondary Legislation

Petitions

e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.

If an e-petition reaches 10,000 signatures the Government will issue a written response.

If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).

Trending Petitions
Petition Open
12,938 Signatures
(2,144 in the last 7 days)
Petition Open
2,672 Signatures
(823 in the last 7 days)
Petitions with most signatures
Petition Debates Contributed

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

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

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

View All HM Treasury Petitions

Departmental Select Committee

Treasury Committee

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

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

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


11 Members of the Treasury Committee
Meg Hillier Portrait
Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)
Treasury Committee Member since 9th September 2024
Yuan Yang Portrait
Yuan Yang (Labour - Earley and Woodley)
Treasury Committee Member since 21st October 2024
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 21st October 2024
John Glen Portrait
John Glen (Conservative - Salisbury)
Treasury Committee Member since 21st October 2024
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 21st October 2024
Bobby Dean Portrait
Bobby Dean (Liberal Democrat - Carshalton and Wallington)
Treasury Committee Member since 28th October 2024
Chris Coghlan Portrait
Chris Coghlan (Liberal Democrat - Dorking and Horley)
Treasury Committee Member since 28th October 2024
John Grady Portrait
John Grady (Labour - Glasgow East)
Treasury Committee Member since 9th December 2024
Catherine West Portrait
Catherine West (Labour - Hornsey and Friern Barnet)
Treasury Committee Member since 27th October 2025
Luke Murphy Portrait
Luke Murphy (Labour - Basingstoke)
Treasury Committee Member since 27th October 2025
Jim Dickson Portrait
Jim Dickson (Labour - Dartford)
Treasury Committee Member since 27th October 2025
Treasury Committee: Upcoming Events
Treasury Committee - Private Meeting
2 Mar 2026, 2 p.m.
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Financial Inclusion Strategy
4 Mar 2026, 2 p.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

20th Feb 2026
To ask the Chancellor of the Exchequer, how much funding is allocated to the National Wealth Fund for each financial year from 2024-25 onward, broken down by capital spending allocations and financial transactions.

The National Wealth Fund (NWF) is capitalised with £27.8bn to make investments in support of the growth and clean energy missions. £10 billion of its capital is allocated for guarantees, £4 billion for local authority lending, and the rest is split between debt and equity.

HM Treasury has not made specific allocations of this capital to each financial year. The NWF has the target of committing all its capital by 2029/30.

James Murray
Chief Secretary to the Treasury
20th Feb 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of current aviation fuel taxation arrangements on the environment.

Air Passenger Duty (APD) applies to airlines and is the principal tax on the aviation sector. It is expected to raise £4.7 billion in 2025-26 and it aims to ensure that airlines make a fair contribution to the public finances, particularly given that tickets are VAT free and aviation fuel incurs no duty.

Due to the international nature of air travel, the UK Government, alongside over 100 other countries, has entered into wide-ranging bilateral agreements to enable more seamless air connectivity between countries. These are longstanding agreements that include restrictions on taxing jet fuel on international flights. Air Passenger Duty is therefore the principal tax on the aviation sector, charged on a per passenger basis, to ensure that airlines continue to make a fair contribution to the public finances.

Reforms to APD took effect in April 2023, including the introduction of a new ultra long-haul band covering flights that are greater than 5,500 miles from London. This ensures that those who fly furthest, and have the greatest impact on emissions, pay the most tax.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
20th Feb 2026
To ask the Chancellor of the Exchequer, what value of goods have been identified as a threat to the European Union's economy and held at a check point between Great Britain and Northern Ireland since the introduction of the Windsor Framework by year.

HMRC does not hold data on the value of goods identified as a threat to the EU economy.

The UK Internal Market Scheme enables businesses to move goods from Great Britain to Northern Ireland without being subject to customs duties and unnecessary checks and paperwork. Over 15,000 businesses have been authorised for UKIMS.

The Independent Monitoring Panel's recent assessment of the UK Internal Market System showed that 96% of the value of goods moving via freight from Great Britain to Northern Ireland did so under the UK internal market system for the period 1 January 2025 – 30 June 2025.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
12th Feb 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of increases to the Economic Crime Levy on not-for-profit housing associations.

The Government published its summary of the impacts of the increases to the Economic Crime (Anti-Money Laundering) Levy in the policy paper titled "Economic Crime Levy – changes to bands and charges” (Economic Crime Levy — changes to bands and charges - GOV.UK).

The Levy was designed with simplicity and proportionality at its core, to limit the administrative burden on regulated entities. Accordingly, it applies to any entity that carries out activity regulated by the Money Laundering Regulations and no entity pays more than 0.1% of its revenue in charges.

A full review of the Levy will be undertaken in 2027.

Lucy Rigby
Economic Secretary (HM Treasury)
12th Feb 2026
To ask the Chancellor of the Exchequer, if she has considered the efficacy of using FCA fines to fund hospices.

Revenue from Financial Conduct Authority (FCA) fines is used to benefit the taxpaying public. First, the FCA deducts the costs of enforcement from its fine income. Any money left over is passed to the Treasury in accordance with the Financial Services and Markets Act 2000. The Treasury must surrender it to the Consolidated Fund and it is then part of the Government’s total revenues, used to pay for all Government spending on public services like hospitals, hospices, and other crucial services. The Government has no plans to change this approach.

Lucy Rigby
Economic Secretary (HM Treasury)
11th Feb 2026
To ask the Chancellor of the Exchequer, whether the Government plans to increase the purchase limit for properties outside of London when using a Help to Buy ISA.

This Government is committed to helping first time buyers own their own home and will do this by building 1.5 million more homes.

The Government keeps savings policy under review, any changes of this kind would be made at a relevant fiscal event.

Lucy Rigby
Economic Secretary (HM Treasury)
20th Feb 2026
To ask the Chancellor of the Exchequer, what the difference is between the 250,000 retail, hospitality and leisure businesses benefitting from business rates relief, as cited in answer to question UIN 904249, and the 750,000 businesses benefitting from the lower multiplier, as cited in answer to question UIN 111573.

More properties will benefit from the new retail, hospitality and leisure (RHL) multipliers because there is no cash cap, meaning all qualifying properties in an RHL chain will benefit.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
20th Feb 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the importance of appointing a Digital Markets Champion with experience and understanding of digital assets and distributed ledger technologies, to help position the UK as a global hub for digital finance and innovation.

Last July the government published the Wholesale Financial Markets Digital Strategy. The strategy announced that the government will appoint an industry expert as Wholesale Digital Markets Champion, who will provide leadership from, and for, the sector on wholesale market digitalisation.

The government is working at pace to appoint a suitable candidate for the role, taking into account their backgrounds and previous experience, and will provide an update in due course.

Lucy Rigby
Economic Secretary (HM Treasury)
20th Feb 2026
To ask the Chancellor of the Exchequer, what steps the Department is taking to ensure that the recruitment process for the Digital Markets Champion includes interviewing candidates from a broad range of professional backgrounds, including those with experience in emerging technologies and digital assets.

Last July the government published the Wholesale Financial Markets Digital Strategy. The strategy announced that the government will appoint an industry expert as Wholesale Digital Markets Champion, who will provide leadership from, and for, the sector on wholesale market digitalisation.

The government is working at pace to appoint a suitable candidate for the role, taking into account their backgrounds and previous experience, and will provide an update in due course.

Lucy Rigby
Economic Secretary (HM Treasury)
11th Feb 2026
To ask His Majesty's Government what assessment they have made of the implications of the increased use of AI to drive cost efficiencies in banking for financial stability, competition and consumer outcomes in the financial services sector.

The Government’s ambition is to make the UK a global leader in AI, leveraging our dual strength in financial services and AI to drive growth, productivity, and consumer benefits. Encouraging safe adoption is an essential part of realising that ambition.

The treatment of customers by UK banks and building societies is governed by the Financial Conduct Authority (FCA), whose independent regulatory powers ensure consumer protection in the financial services sector. The FCA’s Principles for Businesses require firms to provide prompt, efficient, and fair service to all their customers. The FCA’s Consumer Duty requires firms to act in good faith, prevent foreseeable harm, and act in the best interests of consumers.

UK banks are required to comply with relevant laws and regulations that are fundamental to consumer protection. In April 2024, the FCA published an update on its regulatory approach to AI, making it clear that where firms use AI as part of their business operations, they remain responsible for meeting FCA rules. Firms remain fully accountable for outcomes delivered by AI systems.

The FCA is also the regulator responsible for promoting effective competition in the interests of consumers in financial services. The FCA’s 2024 update on its regulatory approach to AI also considers competition risks and the impacts of beneficial innovation on competition in financial services. The FCA also works alongside the Competition and Markets Authority (CMA) as part of the Digital Regulation Cooperation Forum (DRCF), including conducting joint consumer research on generative AI with the CMA.

The Bank of England’s Financial Policy Committee (FPC) is responsible for identifying and monitoring risks to UK financial stability. In their April 2025 Financial Stability in Focus publication, they set out the potential benefits and risks to financial stability that could result from AI use in the financial system, HM Treasury continues to work closely with the FPC and UK financial regulators to assess risks to financial stability.

The Government will continue to work with regulators and industry to ensure innovation proceeds safely and responsibly.

Lord Livermore
Financial Secretary (HM Treasury)
11th Feb 2026
To ask His Majesty's Government what assessment they have made of recent trends in UK tech and fintech investment, and how this is informing their strategy to maintain competitiveness in emerging financial technologies.

In 2025, the sector attracted $3.6 billion of investment - second only to the US. As set out in the Government’s Financial Services Growth and Competitiveness Strategy (“the Strategy”), the UK aims to be the world’s most technologically advanced global financial centre, and to remain a leading jurisdiction for Fintech firms to start-up, scale and list.

The UK has a long history as a powerhouse of financial services innovation. The Strategy set out a comprehensive package of reforms to maintain the UK’s global leadership in Fintech.

Lord Livermore
Financial Secretary (HM Treasury)
11th Feb 2026
To ask His Majesty's Government what measures they are considering to support the responsible deployment of AI across UK financial services.

As set out in the Government’s Financial Services Growth and Competitiveness Strategy, it is our ambition to make the UK ”the world’s most technologically advanced global financial sector”, leveraging our dual strengths in financial services and Artificial Intelligence (AI) to drive growth, productivity, and deliver consumer benefits, including steps to support safe AI deployment across the sector.

As committed to in the Strategy, the Government has appointed Financial Services AI Champions, Harriet Rees and Rohit Dhawan, who will focus on helping firms seize opportunities of AI while protecting consumers and financial stability.

As part of their work, the AI Champions will engage with stakeholders across the industry, with the regulators and with government to develop recommendations on areas of potential growth for AI in financial services and what action could be taken to seize the opportunities that AI brings.

The Government will carefully consider any recommendations before setting out its next steps, taking into account the benefits of innovation and also ensuring that risks are appropriately considered.

The Government will continue working closely with industry and the regulators to safely capitalise on the opportunities AI presents while protecting consumers and financial stability.

Lord Livermore
Financial Secretary (HM Treasury)
11th Feb 2026
To ask His Majesty's Government what assessment they have made of the threats to financial services presented by the cutting of subsea cables or the monitoring of information carried by them.

Strengthening the financial sector’s resilience to threats and hazards of all origins is a key priority for HM Treasury and the financial regulators.

While individual subsea cables are vulnerable to damage, the UK’s international connectivity is resilient, supported by 45 international cables and high‑capacity fibre cables through the Channel tunnel.

However, critical sectors must be prepared for reasonable worst-case disruption. HM Treasury is working closely with the Department for Science, Innovation and Technology to update the Government’s assessment of how disruption or monitoring of subsea cables could affect financial services. This work will inform response planning and further support a secure, resilient financial sector.

Lord Livermore
Financial Secretary (HM Treasury)
11th Feb 2026
To ask the Chancellor of the Exchequer, what steps she is taking to support older people in financial difficulties.

We are committed to helping pensioners with the cost of living and ensuring financial security in retirement. The State Pension will remain the foundation of retirement income and, in line with the government’s commitment to the Triple Lock for the duration of this parliament, over 12 million pensioners will benefit from a 4.8% increase to their basic or new State Pension in April 2026, worth up to £575 a year. This follows a substantial increase in 2025/26, when those on the full new State Pension received a £360 boost.

The Government provides Pension Credit for pensioners with low incomes. Pension Credit is an income-related benefit which targets help at the poorest pensioners. The amount a person gets depends on how much income they have each week and how much they have saved or invested.

The Pension Credit Standard Minimum Guarantee will also increase by 4.8% in April 2026, from £227.10 to £238 a week for single pensioners and from £346.60 to £363.25 for couples, protecting the poorest pensioners. Over three quarters of pensioners will benefit from the Winter Fuel Payment for the duration of this Parliament, targeting help at those on lower and middle incomes while ensuring fairness for taxpayers.

Pensioners also benefit from free eye tests, NHS prescriptions and bus passes, and some may qualify for means tested benefits such as Housing Benefit and Cold Weather Payments.

To help with ongoing cost of living pressures, the government will remove around £150 on average off household energy bills across Great Britain from April 2026 and the government is expanding the Warm Home Discount to an additional 2.7 million households, meaning around 6 million low-income households will receive £150 support with their energy bills.

Torsten Bell
Parliamentary Secretary (HM Treasury)
20th Feb 2026
To ask the Chancellor of the Exchequer, what steps she is taking to support (a) entrepreneurs and (b) new business starters.

At Autumn Budget 2025, the Government published the Entrepreneurship in the UK Prospectus which emphasises the Government’s commitment to supporting start‑ups and scaling firms through improved access to capital, R&D support, regulatory reform, and procurement changes.

The Government also conducted a Call for Evidence on Tax Support for Entrepreneurs, which closed recently.

James Murray
Chief Secretary to the Treasury
12th Feb 2026
To ask the Chancellor of the Exchequer, with reference to the Explanatory Memorandum on the Double Contributions Convention with the Republic of India, Command Paper No 1513, how much public funding will be required to meet the obligations for managing the treaty.

The project to implement the Double Contributions Convention, including work required by Article 20 to scope and implement a system of electronic information exchange between the UK and India, is still on-going. A full estimate is therefore not available. The system under development will be a step towards the modernisation of international social security processes in HMRC.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
12th Feb 2026
To ask the Chancellor of the Exchequer, with reference to the Written Ministerial Statement of 11 February on the Double Contributions Convention with the Republic of India, HCWS1327, if he will commission an an economic impact assessment on the Double Contributions Convention.

The Office for Budget Responsibility will certify the impact of the Double Contributions Convention in the usual way at a fiscal event, once it has been ratified.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
11th Feb 2026
To ask the Chancellor of the Exchequer, how the cost of the additional business rates support for pubs will be funded.

From April, every pub and live music venue will get 15% off its new business rates bill on top of the support announced at Budget, ahead of their bills being frozen in real terms for a further two years. The cost of this support will not impact other sectors’ bills.

Final costings will be confirmed at a fiscal event in the usual way.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
9th Feb 2026
To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential merits of allowing businesses to continue paying rates based on the previous year's valuation where a newly determined business rates valuation is under appeal with additional liability payable only if the appeal is unsuccessful.

If customers disagree with their Rateable Value (as published in the Rating Lists), there is a three-stage process run by the Valuation Office Agency (VOA) known as Check, Challenge, Appeal to challenge this.

Ratepayers are required to continue paying business rates based on the current valuation while a case is ongoing.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
11th Feb 2026
To ask the Chancellor of the Exchequer, how many enquiries were opened as a result of data-sharing between HMRC and the DWP to identify when older children claim benefits in their own right; over what timeframe they were opened; and what the outcomes were.

DWP has long provided HMRC with information where older children receive benefits in their own right. Since 2024, this has been done through notifications of Universal Credit claims, replacing the previous approach which relied on Jobseeker’s Allowance and Income Support data.

HMRC uses these notifications to stop Child Benefit awards in cases where a young person is receiving benefit in their own right. This prevents dual provision of government support for the same individual. Because the DWP data is notifying HMRC of clear evidence of a benefit award, rather than indicating a risk of this potential, it is approaching 100% effective for addressing this type of error and fraud.

Based on operational management information, which is subject to change, over the last two years HMRC has closed around 3,000 Child Benefit awards following notifications from DWP that the young person was in receipt of Universal Credit.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
11th Feb 2026
To ask His Majesty's Government what is their estimate of the net annual cost to the Treasury of freezing business rates on recording studios.

The Government has no current plans to freeze business rates for recording studios.

At the Budget in November 2025, the Government announced a £4.3 billion support package to support ratepayers across all sectors seeing bill increases. This includes a redesigned Transitional Relief scheme, which protects ratepayers from large overnight increases as a result of the revaluation.

The Government values the music industry and understands that recording studios are a vital part of the infrastructure of the industry. The Music Growth Package will see Government funding for the sector more than double from £4.1 million to up to £10 million a year for the next three years.

Lord Livermore
Financial Secretary (HM Treasury)
12th Feb 2026
To ask His Majesty's Government what assessment they have made of the figures for economic growth in the last 12 months and how does that outcome compare with their economic growth objectives.

In 2025, UK GDP grew by 1.3%, which was the fastest rate of economic growth among the European G7. GDP per capita strongly accelerated, growing by 1.0% in 2025 after no growth in 2024 and a 1.0% fall in 2023. GDP per capita is now 0.9% above pre-election levels, whereas it declined by 0.2% in the previous Parliament.
Lord Livermore
Financial Secretary (HM Treasury)
12th Feb 2026
To ask His Majesty's Government which public sector employers, including (1) NHS bodies, (2) maintained schools, (3) academy trusts, and (4) transport authorities, operate optional remuneration arrangements involving the sacrifice of earnings for employer pension contributions.

Remuneration arrangements involving the sacrifice of earnings for employer pension contributions are not possible within statutory Public Service Pension Schemes and those public sector employers to which the Managing Public Money guidance applies are not permitted to offer such remuneration schemes. For other public sector organisations, the Government does not hold a central record of which organisations offer this type of salary sacrifice arrangement.

Lord Livermore
Financial Secretary (HM Treasury)
10th Feb 2026
To ask the Chancellor of the Exchequer, pursuant to WPQ 109606 answered on 3 February 2026 on Pensioners: Taxation, what the maximum value is of small amounts of tax.

As stated in answer to WPQ 109606 on 3 February, the government will set out in due course further details on how it will ease the administrative burden for pensioners whose sole income is the basic or new State Pension without any increments.

Torsten Bell
Parliamentary Secretary (HM Treasury)
11th Feb 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of setting a maximum settlement reduction of £70,000 under the revised loan charge settlement arrangements.

The Government commissioned an independent review of the loan charge to bring the matter to a close for those affected, ensure fairness for all taxpayers and ensure that appropriate support is in place for those subject to the loan charge.

Because of the decisions the Government has taken, around 30 percent of people within scope of the review could have their liabilities removed entirely. Most other individuals will see their liabilities reduced by at least half.

The most serious cases within scope of the Loan Charge review include instances where an individual has avoided more than £5 million of tax through disguised remuneration use. The Government does not believe it is right to offer this group further substantial reductions to their liabilities. The £70,000 cap was introduced to ensure fairness for all taxpayers, including the vast majority who have never used disguised remuneration schemes.

Over 80% of individuals that are within scope of the settlement opportunity will not be affected by the cap.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
10th Feb 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential cost exempting repairs enjoyed by museums and galleries from VAT to include listed places of worship to the Exchequer.

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. Outside of a limited number of VAT reliefs aimed at stimulating the supply of new homes, the standard VAT rate of 20 per cent applies to most construction work.

Some museums and galleries receive VAT refunds on the costs associated with providing free access to their permanent collections, under the museums and galleries VAT Refund Scheme. This includes the refunds of the VAT paid on repairs to the buildings that contain museums/galleries’ permanent collections. Further information about the refund scheme can be found here:

VAT Refund Scheme for museums and galleries (VAT Notice 998) - GOV.UK

The Listed Places of Worship Grant Scheme, administered by the Department for Digital, Culture, Media and Sport, provides grants for VAT paid by listed places of worship on their repair and maintenance costs, with the objective of helping to preserve UK heritage. From April 2026, the scheme will be replaced by a Places of Worship Renewal Fund, which will invest £92 million capital funding into listed places of worship. It is designed to ensure that taxpayer funding is targeted more effectively toward the preservation of our heritage assets.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
11th Feb 2026
To ask the Chancellor of the Exchequer, what steps her Department is planning to take to assess the potential impact of the removal of the wear and tear allowance within Making Tax Digital on the (a) sustainability of the childminding sector and (b) availability of childcare for local families.

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.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
6th Feb 2026
To ask the Chancellor of the Exchequer, what information her Department holds on the number of times that Jeffrey Epstein (a) visited and (b) stayed at a Crown Estate owned property.

The Epstein scandal exposed a culture that didn't value the lives of women. It is utterly contrary to what the Prime Minister stands for and the values at the heart of a government tackling misogyny in schools, halving violence against women and girls and overhauling how our criminal justice system serves victims.

The Crown Estate is an independent commercial organisation, and the Government is not involved in its operations and day-to-day decision making.

The Crown Estate has confirmed that its leases contain a nuisance clause that prohibits illegal or immoral use, and that it enforces those leases in accordance with applicable law.

The Crown Estate has confirmed that its residential lease arrangements do not require monitoring or recording the identities of a leaseholder’s private visitors. Such monitoring would be incompatible with privacy and data protection requirements and with the long-established covenant owed to leaseholders under landlord-tenant law.

James Murray
Chief Secretary to the Treasury
6th Feb 2026
To ask the Chancellor of the Exchequer, what information her Department holds on whether the Crown Estate sought legal advice on the potential liability of their properties being used for the procurement of prostitution.

The Epstein scandal exposed a culture that didn't value the lives of women. It is utterly contrary to what the Prime Minister stands for and the values at the heart of a government tackling misogyny in schools, halving violence against women and girls and overhauling how our criminal justice system serves victims.

The Crown Estate is an independent commercial organisation, and the Government is not involved in its operations and day-to-day decision making.

The Crown Estate has confirmed that its leases contain a nuisance clause that prohibits illegal or immoral use, and that it enforces those leases in accordance with applicable law.

The Crown Estate has confirmed that its residential lease arrangements do not require monitoring or recording the identities of a leaseholder’s private visitors. Such monitoring would be incompatible with privacy and data protection requirements and with the long-established covenant owed to leaseholders under landlord-tenant law.

James Murray
Chief Secretary to the Treasury
10th Feb 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 12 January 2026 to Question 101767 on Jeffrey Epstein, whether Jeffery Epstein visited HM Treasury offices in Whitehall during the period 1997 to 2010.

Visitor information for HM Treasury offices in Whitehall is not retained for the time periods specified.

Lucy Rigby
Economic Secretary (HM Treasury)
9th Feb 2026
To ask His Majesty's Government what, if any, provision is being made to allow independent schools which have a Combined Cadet Forces Unit to offset the associated costs against their VAT commitments.

VAT registered schools, like all VAT registered businesses, are entitled to recover VAT incurred on the goods and services they purchase and use in making taxable supplies. Costs relating to non-business activities cannot be recovered as input tax. There is no special provision to allow recovery of VAT incurred for non-business activities.

Where Combined Cadet Forces related costs also support the broader educational provision, schools may be able to deduct a portion of the VAT incurred on the associated costs.

HMRC has published guidance specifically for private schools, including how they can recover VAT on costs.

Lord Livermore
Financial Secretary (HM Treasury)
12th Feb 2026
To ask the Chancellor of the Exchequer, whether the Erasmus deal with the EU has (a) asymmetric or (b) symmetric early termination payments, payable (i) by the United Kingdom if it terminates early and (ii) by the European Union if they terminate early, and what provisions apply if the cost increases in Year 2 of the agreement once the first-year discount expires.

UK association to Erasmus+ is provided for through technical amendments to Protocol I of the Trade and Cooperation Agreement (TCA), which was agreed in 2020 and provides for UK association to EU Programmes under Part 5.

Section 3 of Part 5 of the TCA outlines the legal mechanism under which the UK’s participation in all EU Programmes, including Erasmus+, would be subject to suspension and/or termination.

James Murray
Chief Secretary to the Treasury
11th Feb 2026
To ask the Chancellor of the Exchequer, how the policy to write off 90% of local authority SEND debs will be funded.

This funding relates to money that has already been spent by local authorities. The effect of the decision referred to is to transfer the accounting for that historic spending from local to central government. Any impact will be reflected in the OBR’s upcoming forecast.

James Murray
Chief Secretary to the Treasury
10th Feb 2026
To ask the Chancellor of the Exchequer, pursuant to answer 107494 of 26 January on Child Benefit, how many of the compliance enquiries issued to Northern Ireland claimants (i) were confirmed to be eligible, (ii) were found to have been incorrectly receiving the benefit and (iii) are yet to receive an outcome.

I refer the Hon Member to the response provided to 110941 on 10 February 2026.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
10th Feb 2026
To ask the Chancellor of the Exchequer, with reference to Written Statement UIN HCWS1315, what Barnett consequentials will be provided to the Welsh Government as a result of the grants awarded to local authorities in England to address SEND deficits.

Any Barnett consequentials generated will be confirmed when departments formally receive funding; the next opportunity is Spring Forecast 2026.

James Murray
Chief Secretary to the Treasury
11th Feb 2026
To ask the Chancellor of the Exchequer, whether the Agreement on Social Security relating to Social Security Contributions between the United Kingdom and India is subject to the scrutiny requirements of the Constitutional Reform and Governance Act 2010.

Yes, the Double Contributions Convention with the Republic of India is subject to the scrutiny requirements of the Constitutional Reform and Governance Act 2010.

The Government laid the Convention before Parliament on 11 February 2026, and the scrutiny period commenced on 12 February 2026.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
10th Feb 2026
To ask the Chancellor of the Exchequer, how many UK businesses at the most recent date for which information is available have had their Government Gateway access restricted on the grounds that their accounts may have been compromised by fraudulent attempts to reclaim VAT.

The security of HMRC’s online services is a top priority. We are aware of attempts by organised criminals to access VAT accounts using genuine customers’ registration details, and our immediate focus is to protect customer data and correct any affected tax or payment records. Customer accounts may be restricted, i.e. suspended or deleted, for a range of reasons, including proactive fraud monitoring, reports of suspicious activity, and the closure of inactive accounts. Specialist security and VAT teams are actively investigating and delivering improvements to strengthen VAT account security, which could include restricting accounts where fraudulent activity has not been identified.

When and if fraudulent activity has occurred, HMRC contacts affected customers to explain the remedial actions taken and outline any steps they need to take.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
11th Feb 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 4 February 2026 to Question 118047, which section of the most recent Block Grant Transparency publication details the Barnett consequentials allocated to the Northern Ireland Executive following increases in police funding to PCCs in England and Wales in each year since 2020.

The Barnett formula applies to all changes in UK Government Departmental Expenditure Limits, as set out in the Statement of Funding Policy. The Block Grant Transparency publication breaks down all changes to the Northern Ireland Executive’s block grant funding since Spending Review 2015. The most recent report was published in October 2025.

At spending reviews, the Barnett formula is applied to overall changes to department funding, rather than to individual programmes or specific funding streams. Therefore, it is not possible to identify or specify Barnett consequentials allocated to the Northern Ireland Executive for particular programmes where funding was provided at spending reviews, including increases in police funding to Police and Crime Commisioners in England and Wales.

James Murray
Chief Secretary to the Treasury
11th Feb 2026
To ask the Chancellor of the Exchequer, when the Chief Secretary to the Treasury plans to respond to the correspondence of 15 January 2026 from the hon. Member for Arundel and South Downs.

The correspondence from the hon. Member is receiving attention, and a response will be issued in due course.

James Murray
Chief Secretary to the Treasury
6th Feb 2026
To ask His Majesty's Government what their definitions are of (1) retail investor, and (2) professional investor.

The Financial Conduct Authority (FCA) applies a number of regulatory regimes to distinguish between retail investors and those that are more sophisticated, and to apply appropriate protections. These include the financial promotion regime and client categorisation rules.

The financial promotion regime provides a framework which seeks to ensure that consumers are appropriately protected such that they are able to make informed decisions. The regime, which is governed by the Financial Promotion Order, includes exemptions for marketing to investment professionals, and high-net-worth or sophisticated investors.

In addition, client categorisation rules seek to protect retail clients investing in capital markets, without imposing undue restrictions on professional clients. The FCA are currently reviewing these rules to unlock greater opportunities for wealthy investors, strengthen capital markets and drive economic growth. A consultation on the FCA’s proposals closed on 2 February 2026.

Lord Livermore
Financial Secretary (HM Treasury)
6th Feb 2026
To ask His Majesty's Government what estimate they have made of how many individuals are currently claiming child benefits due to an exemption to no recourse to public funds status.

The information required to inform an estimate is not held in a readily available form. Producing an estimate would require detailed manual examination of a very large number of individual Child Benefit claims, which could only be done at disproportionate cost.

Lord Livermore
Financial Secretary (HM Treasury)
6th Feb 2026
To ask His Majesty's Government what is the average wait time for each of HMRC's telephone helpline services; and whether these times have reduced over the last two years.

Across HMRC’s main helplines, the average speed of answering customer calls for 2023–24, 2024–25, and 2025–26 (year-to-date to November 2025) is shown in the table.

The definition of ‘average speed of answering a customer’s call’ (ASA) is the average time spent waiting in the queue for an adviser. This is from the time that the customer finished listening to HMRC’s automated messages and completed their selection from HMRC’s automated menu to the time when they get to speak to an adviser.

HMRC’s main helplines - Average Speed of Answering a customer’s call (minutes: seconds)

2023-24

2024-25

2025-26 YTD to November

Child Benefit

21:05

16:05

10:35

National Insurance

20:55

21:48

10:32

Tax Credits Helpline

19:22

22:09

05:16

Tax Credits Payment Helpline

22:13

16:50

05:34

Corporation Tax

13:52

11:51

11:49

Stamp Duty and Capital Gains

05:45

02:47

03:26

Agent Dedicated Line

21:56

26:38

16:37

Construction Industry Scheme Helpline

13:49

09:23

09:44

Employers Helpline

22:20

26:32

27:20

Online Services Helpline

08:36

11:49

05:58

PAYE

34:18

22:58

17:34

Self Assessment Helpline

37:15

23:40

16:46

VAT

27:14

14:30

10:32

Overall, ASA has improved over the past two years. In 2023-24, across all HMRC helplines, it was 23 minutes and 14 seconds. In 2025-26 (year to date - end of November 2025), ASA was 13 minutes and 17 seconds.

HMRC are taking steps to make sure more of their services are digital, so customers can self-serve online. HMRC online services and the HMRC app are convenient to access and receive high customer satisfaction ratings. As more people use HMRC online services, advisers are freed up to support those with more complex queries and those who are digitally excluded.

Lord Livermore
Financial Secretary (HM Treasury)
14th Jan 2026
To ask the Chancellor of the Exchequer, pursuant to the answer of 2 December 2025, to Question 93748, on 10 Downing Street: Repairs and Maintenance, how much has been spent from public funds by Cabinet Office, HM Treasury or the Government Property Agency on the Chancellor’s official Ministerial residence in 10 Downing Street since 4 July 2024.

Following the departure of previous occupants, the official Ministerial residence was provided unfurnished. To address this, £19,759.61 was spent since 4 July 2024 on furnishings which remain government property and will be retained for future occupants.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
5th Feb 2026
To ask His Majesty's Government what assessment they have made of recent volatility in the share price of software and data companies and the implications of this volatility in terms of (1) market transparency, (2) disclosure practices, and (3) investor protection.

The Government does not comment on specific movements in financial markets.

The Government, together with the Financial Conduct Authority, has already undertaken significant reforms to ensure UK capital markets deliver for British businesses and investors. This includes an ongoing programme to implement reforms to wholesale markets. These have been designed to maintain high regulatory standards, promote openness and competitiveness, deliver fair and proportionate regulation, and support economic growth, innovation and wealth creation across society.

Lord Livermore
Financial Secretary (HM Treasury)
5th Feb 2026
To ask His Majesty's Government whether they plan to participate in international negotiations on the establishment of a Defence, Security and Resilience Bank, following the Canadian government’s announcement on 30 January of its intention to explore this with European and NATO partners.

Challenging times for global and European security call for creative solutions. The UK is therefore stepping up work with likeminded allies on the most effective option for a collective approach to defence spending and procurement.


Together, we can accelerate vital investment and maximise the potential of historic spending uplifts to meet the scale of our shared defence and security commitments.

Lord Livermore
Financial Secretary (HM Treasury)
10th Feb 2026
To ask the Chancellor of the Exchequer, whether her Department has undertaken analysis of how student loan repayment arrangements affect (1) borrowers’ disposable income and (2) their ability to access mortgages.

Student loan repayments are taken into account as part of affordability assessments for mortgage applications, but student loans are very different from a mortgage or credit card debt as repayments are determined by income, not the amount borrowed. For example, a Plan 2 graduate earning £30,000 will repay only around £4 a month in FY2026–27.

The most sustainable long-term method to improve housing affordability and help people into homeownership is to increase the supply of housing. This Government has recommitted to delivering 1.5 million homes over this Parliament.

The government is committed to making home ownership more accessible by supporting first-time buyers, and welcomes clarifications from the Financial Conduct Authority (FCA), which should allow customers to borrow around 10% more on the same income.

James Murray
Chief Secretary to the Treasury
10th Feb 2026
To ask the Chancellor of the Exchequer, what was the evidential basis for the decision to freeze the student loan repayment threshold for graduates; and what assessment he has made of the potential impact of this on graduates' disposable incomes.

The fiscal situation this government inherited means we’ve had to make tough but fair choices, including on student loan repayment threshold freezes.

Student loan borrowers repay a portion of their income (typically 9%) above the repayment threshold. A Plan 2 graduate earning £30,000 will repay only around £4 a month in FY2026–27. The student finance system is heavily subsidised by government, and lower-earning graduates will always be protected, with any outstanding loan and interest cancelled at the end of the repayment term. It is right that those who are able to repay do so.

The Department for Education has published analysis of the impact of the repayment threshold freeze on total repayments here.

James Murray
Chief Secretary to the Treasury
10th Feb 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 21 January 2026 to Question 101775 on 1 Carlton Gardens: Council tax, whether the Chancellor’s residence in Downing Street is her primary residence.

I refer the Hon. Member to the answer given on 8 January 2026 to Question 101771.
Lucy Rigby
Economic Secretary (HM Treasury)
10th Feb 2026
To ask the Chancellor of the Exchequer, whether consumer credit affordability and creditworthiness checks adequately prevent people with high levels of debt and known gambling-related financial risks from obtaining additional credit cards; and what steps she is taking with the Financial Conduct Authority to strengthen safeguards.

Lenders offering credit are regulated by the Financial Conduct Authority (FCA). This oversight ensures that lending practices are fair and that consumers are protected – firms regulated by the FCA must comply with its strict lending affordability rules, lending only to those who can afford repayments based on a thorough assessment of their financial situation. Under the FCA’s Consumer Duty, firms are required to take steps to identify and respond to signs of vulnerability, support customers to disclose their needs, and make them aware of available assistance.

The Government is committed to supporting people who are experiencing problem debt. Through the Money and Pensions Service (MaPS), the Government funds a range of national and community-based debt advice services in England, so households can access the specialist support they need to get their finances back on track.

Lucy Rigby
Economic Secretary (HM Treasury)