HM Treasury
HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.
Shadow Ministers / Spokeperson
Liberal Democrat
Baroness Kramer (LD - Life peer)Liberal Democrat Lords Spokesperson (Treasury and Economy)
Daisy Cooper (LD - St Albans)
Liberal Democrat Spokesperson (Treasury)
Conservative
Mel Stride (Con - Central Devon)Shadow Chancellor of the Exchequer
Green Party
Adrian Ramsay (Green - Waveney Valley)Green Spokesperson (Treasury)
Liberal Democrat
Charlie Maynard (LD - Witney)Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
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This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of Valuation Office …
These Regulations amend the Customs (Northern Ireland) (EU Exit) Regulations 2020 (S.I. 2020/1605) (“the 2020 Regulations”), in particular, Chapter 5 …
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and …
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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.
Bills currently before Parliament
HM Treasury does not have Bills currently before Parliament
Acts of Parliament created in the 2024 Parliament
A Bill to make provision in connection with finance.
This Bill received Royal Assent on 18th March 2026 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and 31 March 2027; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2025 and 31 March 2026.
This Bill received Royal Assent on 18th March 2026 and was enacted into law.
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2025.
This Bill received Royal Assent on 21st July 2025 and was enacted into law.
A Bill to make provision about secondary Class 1 contributions.
This Bill received Royal Assent on 3rd April 2025 and was enacted into law.
A Bill to make provision about finance.
This Bill received Royal Assent on 20th March 2025 and was enacted into law.
A Bill to amend the Crown Estate Act 1961.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.
This Bill received Royal Assent on 11th March 2025 and was enacted into law.
A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.
This Bill received Royal Assent on 16th January 2025 and was enacted into law.
A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.
This Bill received Royal Assent on 10th September 2024 and was enacted into law.
A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.
This Bill received Royal Assent on 30th July 2024 and was enacted into law.
HM Treasury - Secondary Legislation
Petitions
e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.
If an e-petition reaches 10,000 signatures the Government will issue a written response.
If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).
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Petition Closed
Raise the income tax personal allowance from £12,570 to £20,000
Gov Responded - 20 Feb 2025 Debated on - 12 May 2025closed 10 months ago
Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.
Petition Closed
Don't change inheritance tax relief for working farms
Gov Responded - 5 Dec 2024 Debated on - 10 Feb 2025closed 11 months, 1 week ago
We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.
Petition Closed
Don't apply VAT to independent school fees, or remove business rates relief.
Gov Responded - 20 Dec 2024 Debated on - 3 Mar 2025closed 10 months, 2 weeks ago
Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.
Departmental Select Committee
Treasury Committee
Commons Select Committees are a formally established cross-party group of backbench MPs tasked with holding a Government department to account.
At any time there will be number of ongoing investigations into the work of the Department, or issues which fall within the oversight of the Department. Witnesses can be summoned from within the Government and outside to assist in these inquiries.
Select Committee findings are reported to the Commons, printed, and published on the Parliament website. The government then usually has 60 days to reply to the committee's recommendations.
11 Members of the Treasury Committee
Treasury Committee Member since 9th September 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 21st October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 28th October 2024
Treasury Committee Member since 9th December 2024
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee Member since 27th October 2025
Treasury Committee: 14 Current Inquiries
Treasury Committee: Previous Inquiries
50 most recent Written Questions
(View all written questions)We do not routinely publish presentations from conferences, so we do not intend to place them in the Library.
Exchequer Secretary (HM Treasury)
The Government is developing a roadmap for fiscal devolution, which will set out plans to give mayors of strategic authorities control of a share of some national taxes that for too long have been allocated by central government.
The Government will be working closely with mayors and businesses to develop the details of the roadmap, which will be published at this year’s Budget.
Local authorities already retain revenues from council tax, and a locally retained share of business rates under the Business Rates Retention System, subject to reliefs and exemptions.
Chief Secretary to the Treasury
The Chancellor considers a wide range of impacts when taking decisions on tax policy. At Budget 2025, the Government announced that the 5p cut in fuel duty would be extended until the end of August 2026, with rates then gradually returning to March 2022 levels by March 2027. The planned increase in line with inflation for 2026/27 will also not take place, with RPI uprating resuming from 2027/28 onwards.
Since Autumn Budget 2024, the Government's decisions to freeze fuel duty will save the average motorist over £90 – or 11 pence per litre - compared to the plans inherited from the previous government.
The Government published distributional analysis on decisions taken at Budget 2025, including fuel duty, at GOV.UK: :
https://assets.publishing.service.gov.uk/media/69269c6222424e25e6bc31bb/Impact_on_households.pdf
Exchequer Secretary (HM Treasury)
ONS data has shown that there were over 1,600 more hospitality business net openings in 2025 than in 2024. We continue to closely monitor the health of different sectors across the UK economy, including hospitality, and regularly engage with the hospitality sector.
The Government is working to support sectors like hospitality. We have introduced new permanently lower business rates multipliers for eligible retail, hospitality and leisure properties which will benefit over 750,000 properties and the National Licensing Policy Framework for England and Wales set a new strategic direction for licensing authorities to have more regard for growth.
The Government has also doubled the Hospitality Support Fund to £10 million which will help rural pubs to diversify and ensure they can continue to be vital community hubs, and the Pride in Place programme will provide up to £5 billion to support our high streets.
Exchequer Secretary (HM Treasury)
VAT is a broad-based tax on consumption, and the standard rate applies to most goods and services, including event tickets. VAT is charged on the total price paid by the consumer, and any additional charges or levies applied prior to sale would generally form part of the taxable amount.
Tax breaks, such as reduced VAT rates, reduce the revenue available for vital public services and must represent value for money for the taxpayer. The Chancellor makes decisions on tax policy at fiscal events in the context of the overall public finances.
Exchequer Secretary (HM Treasury)
VAT is a broad-based tax on consumption, and the standard rate applies to most goods and services, including event tickets. VAT is charged on the total price paid by the consumer, and any additional charges or levies applied prior to sale would generally form part of the taxable amount.
Tax breaks, such as reduced VAT rates, reduce the revenue available for vital public services and must represent value for money for the taxpayer. The Chancellor makes decisions on tax policy at fiscal events in the context of the overall public finances.
Exchequer Secretary (HM Treasury)
The text of the Decision and the amendments to Protocol I has been published on GOV.UK, at the following link: https://www.gov.uk/government/collections/specialised-committee-on-participation-in-union-programmes.
Chief Secretary to the Treasury
100 percent of the reduction in the Official Development Assistance (ODA) budget will be spent on defence in all of the years referenced.
Chief Secretary to the Treasury
The UK will not be liable for any termination payments should the UK choose not to associate to the Erasmus+ programme from 2028.
Chief Secretary to the Treasury
This Government recognised that concerns were raised about the Loan Charge under the previous government and that some felt strongly that it had not been handled appropriately.
The Government therefore commissioned a new 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.
The Government’s response to the review represents a fair and proportionate attempt to provide a route to resolution for those who have not yet been able to settle with HM Revenue and Customs (HMRC). In turn, this requires those individuals or employers to now come forward and engage with HMRC in good faith.
Whilst HMRC assesses the overall resources needed to carry out Loan Charge compliance activity, this is not based on detailed case-by-case forecasts. HMRC is required to collect tax due under the law. The progression and resolution of Loan Charge cases depend on a range of variable and often uncertain factors. These include the extent to which taxpayers choose to engage with HMRC to settle their enquiries.
In line with most tax policy changes, Tax Impact and Information Note (TIIN) setting out HMRC’s assessment of the impacts of the Loan Charge were published when the Loan Charge was announced in 2016. Further TIINs were published alongside subsequent changes to the Loan Charge.
Exchequer Secretary (HM Treasury)
The government does not hold this data. The Ministry for Housing, Communities and Local Government (MHCLG) and HM Land Registry (HMLR) are actively transforming the way Local Land charge data is held and searched through HMLR’s Local Land Charges Programme.
Chief Secretary to the Treasury
The government does not hold this data. The Ministry for Housing, Communities and Local Government (MHCLG) and HM Land Registry (HMLR) are actively transforming the way Local Land charge data is held and searched through HMLR’s Local Land Charges Programme.
Chief Secretary to the Treasury
The National Cyber Security Centre (NCSC) works round the clock to counter attacks, support victims and empower organisations to protect themselves from online threats. The NCSC makes its advice and guidance to organisations freely available.
Where businesses do face disruption, and there is a risk of significant economic or social impacts, the government is prepared to act. In 2025, the government agreed to back JLR with a loan guarantee from UK Export Finance (UKEF). This decisive action helped JLR continue to support 154,000 UK jobs and protected a critical part of our automotive supply chain. JLR employs 34,000 people directly in the UK and supports 120,000 more jobs through its supply chain, many in small and medium-sized enterprises.
The loan covered by the guarantee will be re-paid over 5 years. As with any government intervention to support businesses in distress, the government sets a high bar and keeps value for money under constant review to ensure taxpayer funds are spent wisely.
Chief Secretary to the Treasury
HM Treasury has not participated in any recent discussions regarding the future ownership, management, or financing of Northern Ireland’s public services, including infrastructure, by the Irish Government or any of its agencies.
Chief Secretary to the Treasury
The Government is already taking action on fuel affordability at the pump.
At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027. The 5p cut was introduced following Russia’s invasion of Ukraine in 2022.
The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry.
As with all taxes, the Government keeps fuel duty under review.
Exchequer Secretary (HM Treasury)
The Government is already taking action on fuel affordability at the pump.
At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027. The 5p cut was introduced following Russia’s invasion of Ukraine in 2022.
The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry.
As with all taxes, the Government keeps fuel duty under review.
Exchequer Secretary (HM Treasury)
The Government is already taking action on fuel affordability at the pump.
At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027. The 5p cut was introduced following Russia’s invasion of Ukraine in 2022.
The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry.
As with all taxes, the Government keeps fuel duty under review.
Exchequer Secretary (HM Treasury)
HMRC is using Managed Service Providers (MSP) as part of a balanced approach to help it manage peaks and troughs more effectively, drawing on practices already used across other Government Departments (OGDs). This will allow its permanent colleagues to focus their expertise where it’s most needed. HMRC know customers still need timely support while services continue to digitise, and the current 18‑month Proof of Value phase is providing HMRC with opportunities to learn from this approach, giving it more flexibility to improve the service it gives customers, and at good value for the taxpayer.
HMRC is working jointly with the PCS trade union on an evaluation of the MSP service. The evaluation considers service quality, customer outcomes, productivity and value for money, and will inform future decisions. No outcome is pre‑determined while the evaluation is ongoing.
HMRC’s evaluation will help them determine how they use MSPs to better serve customers. Any decision will be taken through normal business planning and Spending Review processes, taking account of evaluation findings, affordability and operational need.
This is not about replacing HMRC colleagues – no one will be made redundant as a result of this initiative and HMRC headcount is forecast to increase by the end of the Spending Review 2025 period. The current staff provided by MSPs represent additional capacity for 2025/26 and into 2026/27. HMRC faces highly variable demand throughout the year - this is about giving HMRC more flexibility to improve the service it gives customers. This complements its permanent workforce and enables it to scale capacity up and down as needed.
Due to the design of the contract, costs can only be confirmed retrospectively. Comparisons with permanent recruitment and surge staffing currently indicate MSP costs are comparable or better, based on expected outcomes. Overall the projected cost for 12 months was approximately £23m of resourcing spend.
Exchequer Secretary (HM Treasury)
HMRC is using Managed Service Providers (MSP) as part of a balanced approach to help it manage peaks and troughs more effectively, drawing on practices already used across other Government Departments (OGDs). This will allow its permanent colleagues to focus their expertise where it’s most needed. HMRC know customers still need timely support while services continue to digitise, and the current 18‑month Proof of Value phase is providing HMRC with opportunities to learn from this approach, giving it more flexibility to improve the service it gives customers, and at good value for the taxpayer.
HMRC is working jointly with the PCS trade union on an evaluation of the MSP service. The evaluation considers service quality, customer outcomes, productivity and value for money, and will inform future decisions. No outcome is pre‑determined while the evaluation is ongoing.
HMRC’s evaluation will help them determine how they use MSPs to better serve customers. Any decision will be taken through normal business planning and Spending Review processes, taking account of evaluation findings, affordability and operational need.
This is not about replacing HMRC colleagues – no one will be made redundant as a result of this initiative and HMRC headcount is forecast to increase by the end of the Spending Review 2025 period. The current staff provided by MSPs represent additional capacity for 2025/26 and into 2026/27. HMRC faces highly variable demand throughout the year - this is about giving HMRC more flexibility to improve the service it gives customers. This complements its permanent workforce and enables it to scale capacity up and down as needed.
Due to the design of the contract, costs can only be confirmed retrospectively. Comparisons with permanent recruitment and surge staffing currently indicate MSP costs are comparable or better, based on expected outcomes. Overall the projected cost for 12 months was approximately £23m of resourcing spend.
Exchequer Secretary (HM Treasury)
HMRC is using Managed Service Providers (MSP) as part of a balanced approach to help it manage peaks and troughs more effectively, drawing on practices already used across other Government Departments (OGDs). This will allow its permanent colleagues to focus their expertise where it’s most needed. HMRC know customers still need timely support while services continue to digitise, and the current 18‑month Proof of Value phase is providing HMRC with opportunities to learn from this approach, giving it more flexibility to improve the service it gives customers, and at good value for the taxpayer.
HMRC is working jointly with the PCS trade union on an evaluation of the MSP service. The evaluation considers service quality, customer outcomes, productivity and value for money, and will inform future decisions. No outcome is pre‑determined while the evaluation is ongoing.
HMRC’s evaluation will help them determine how they use MSPs to better serve customers. Any decision will be taken through normal business planning and Spending Review processes, taking account of evaluation findings, affordability and operational need.
This is not about replacing HMRC colleagues – no one will be made redundant as a result of this initiative and HMRC headcount is forecast to increase by the end of the Spending Review 2025 period. The current staff provided by MSPs represent additional capacity for 2025/26 and into 2026/27. HMRC faces highly variable demand throughout the year - this is about giving HMRC more flexibility to improve the service it gives customers. This complements its permanent workforce and enables it to scale capacity up and down as needed.
Due to the design of the contract, costs can only be confirmed retrospectively. Comparisons with permanent recruitment and surge staffing currently indicate MSP costs are comparable or better, based on expected outcomes. Overall the projected cost for 12 months was approximately £23m of resourcing spend.
Exchequer Secretary (HM Treasury)
HMRC is using Managed Service Providers (MSP) as part of a balanced approach to help it manage peaks and troughs more effectively, drawing on practices already used across other Government Departments (OGDs). This will allow its permanent colleagues to focus their expertise where it’s most needed. HMRC know customers still need timely support while services continue to digitise, and the current 18‑month Proof of Value phase is providing HMRC with opportunities to learn from this approach, giving it more flexibility to improve the service it gives customers, and at good value for the taxpayer.
HMRC is working jointly with the PCS trade union on an evaluation of the MSP service. The evaluation considers service quality, customer outcomes, productivity and value for money, and will inform future decisions. No outcome is pre‑determined while the evaluation is ongoing.
HMRC’s evaluation will help them determine how they use MSPs to better serve customers. Any decision will be taken through normal business planning and Spending Review processes, taking account of evaluation findings, affordability and operational need.
This is not about replacing HMRC colleagues – no one will be made redundant as a result of this initiative and HMRC headcount is forecast to increase by the end of the Spending Review 2025 period. The current staff provided by MSPs represent additional capacity for 2025/26 and into 2026/27. HMRC faces highly variable demand throughout the year - this is about giving HMRC more flexibility to improve the service it gives customers. This complements its permanent workforce and enables it to scale capacity up and down as needed.
Due to the design of the contract, costs can only be confirmed retrospectively. Comparisons with permanent recruitment and surge staffing currently indicate MSP costs are comparable or better, based on expected outcomes. Overall the projected cost for 12 months was approximately £23m of resourcing spend.
Exchequer Secretary (HM Treasury)
HMRC is using Managed Service Providers (MSP) as part of a balanced approach to help it manage peaks and troughs more effectively, drawing on practices already used across other Government Departments (OGDs). This will allow its permanent colleagues to focus their expertise where it’s most needed. HMRC know customers still need timely support while services continue to digitise, and the current 18‑month Proof of Value phase is providing HMRC with opportunities to learn from this approach, giving it more flexibility to improve the service it gives customers, and at good value for the taxpayer.
HMRC is working jointly with the PCS trade union on an evaluation of the MSP service. The evaluation considers service quality, customer outcomes, productivity and value for money, and will inform future decisions. No outcome is pre‑determined while the evaluation is ongoing.
HMRC’s evaluation will help them determine how they use MSPs to better serve customers. Any decision will be taken through normal business planning and Spending Review processes, taking account of evaluation findings, affordability and operational need.
This is not about replacing HMRC colleagues – no one will be made redundant as a result of this initiative and HMRC headcount is forecast to increase by the end of the Spending Review 2025 period. The current staff provided by MSPs represent additional capacity for 2025/26 and into 2026/27. HMRC faces highly variable demand throughout the year - this is about giving HMRC more flexibility to improve the service it gives customers. This complements its permanent workforce and enables it to scale capacity up and down as needed.
Due to the design of the contract, costs can only be confirmed retrospectively. Comparisons with permanent recruitment and surge staffing currently indicate MSP costs are comparable or better, based on expected outcomes. Overall the projected cost for 12 months was approximately £23m of resourcing spend.
Exchequer Secretary (HM Treasury)
Sammy Wilson
(Democratic Unionist Party - East Antrim)
The government recognises the role that refineries play in energy security and the UK’s industrial base. The Government published a call for evidence (https://www.gov.uk/government/calls-for-evidence/future-of-the-uk-downstream-oil-sector/future-of-the-uk-downstream-oil-sector-call-for-evidence) on the future of the fuel sector on 23rd February 2026 in order to help understand the current state of the refining sector.
Following a strategic and technical assessment by HMG, it has been decided not to expand the Carbon Border Adjustment Mechanism (CBAM) to refined oil products in January 2028. We are continuing to work with the sector to assess the options and case for expanding CBAM to refined oil products at a later date.
Exchequer Secretary (HM Treasury)
Sammy Wilson
(Democratic Unionist Party - East Antrim)
The government recognises the role that refineries play in energy security and the UK’s industrial base. The Government published a call for evidence (https://www.gov.uk/government/calls-for-evidence/future-of-the-uk-downstream-oil-sector/future-of-the-uk-downstream-oil-sector-call-for-evidence) on the future of the fuel sector on 23rd February 2026 in order to help understand the current state of the refining sector.
Following a strategic and technical assessment by HMG, it has been decided not to expand the Carbon Border Adjustment Mechanism (CBAM) to refined oil products in January 2028. We are continuing to work with the sector to assess the options and case for expanding CBAM to refined oil products at a later date.
Exchequer Secretary (HM Treasury)
Air Passenger Duty (APD) applies to airlines, not individual passengers, and is the principal tax on the aviation sector.
HMRC does not collect information on passenger ages or whether passengers are travelling with children. Air Passenger Duty receipts are therefore not broken down in this way, and no estimate can be made of the proportion attributable to passengers travelling with children under 16.
Airline operators declare the number of chargeable passengers by destination band and by rate. They do not break down chargeable passengers by age or who passengers are travelling with, and therefore this is not information that HMRC collects.
Exchequer Secretary (HM Treasury)
The Government recognises the significant contribution made by hospitality businesses to economic growth and social life in the UK.
VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. The UK’s VAT rate of 20 per cent is close to the OECD average of 19.3 per cent. The UK also has a higher VAT registration threshold than any EU country and the joint highest in the OECD, at £90,000. This keeps the majority of businesses out of the VAT regime altogether.
The Government has already started the work of reforming our business rates system by introducing new permanently lower multipliers for eligible retail, hospitality and leisure (RHL) properties. These new multipliers are worth nearly £1 billion per year and benefit over 750,000 properties.
Exchequer Secretary (HM Treasury)
HM Treasury holds regular discussions with a wide range of businesses on matters relating to the economy and the tax system. As part of this regular engagement with global investors, the Chancellor and Financial Secretary to the Treasury have met JP Morgan to discuss the proposed Canary Wharf development.
Exchequer Secretary (HM Treasury)
Angus MacDonald
(Liberal Democrat - Inverness, Skye and West Ross-shire)
There are a wide range of factors to take into consideration when introducing a tax relief. These include how effective the relief would be at achieving the policy intent, how targeted support would be, whether it adds complexity to the tax system, and the cost.
The Government keeps all taxes under review as part of the policy making process. The Chancellor will announce any changes to the tax system at fiscal events in the usual way.
At the Budget, the Government acted to limit increases in business rates bills, announcing a support package worth £4.3 billion. The Government introduced new permanently lower multipliers for eligible retail, hospitality and leisure properties. These new multipliers are worth nearly £1 billion per year and benefit over 750,000 properties. Additionally, around a third of properties already pay no business rates as they receive 100 per cent Small Business Rate Relief (SBRR), with an additional 85,000 benefiting from reduced bills as this relief tapers.
Businesses are able to claim employer NICs reliefs for under-21s and under-25 apprentices. This means employers pay no employer NICs for apprentices under 25 or employees under 21 on earnings up to £50,270. These reliefs are estimated to be worth around £2.5 billion in 2025/26.
Exchequer Secretary (HM Treasury)
The Competition and Markets Authority (CMA) is responsible for ensuring that the obligations under Part 2 of the Retail Banking Market Investigation Order (the Order), and the accompanying Agreed Arrangements, are satisfied. The Government is aware that Open Banking Limited (OBL) has recently conducted a review of its settlement agreements and sought external legal advice to ensure that these are legally compliant.
For the future, the Government has committed to establish a long-term regulatory framework to support the growth of UK Open Banking. This will provide the Financial Conduct Authority (FCA) with powers to regulate Open Banking – including FCA oversight of a so-called ‘Future Entity’ which will take on the functions currently carried out by OBL under the Order.
Treasury officials are engaging with the CMA to inform the design of this future framework.
In due course, the Government will consult on its legislative approach, including the powers it intends to provide the FCA to ensure it can effectively oversee the Open Banking ecosystem and its participants.
Economic Secretary (HM Treasury)
The Competition and Markets Authority (CMA) is responsible for ensuring that the obligations under Part 2 of the Retail Banking Market Investigation Order (the Order), and the accompanying Agreed Arrangements, are satisfied. The Government is aware that Open Banking Limited (OBL) has recently conducted a review of its settlement agreements and sought external legal advice to ensure that these are legally compliant.
For the future, the Government has committed to establish a long-term regulatory framework to support the growth of UK Open Banking. This will provide the Financial Conduct Authority (FCA) with powers to regulate Open Banking – including FCA oversight of a so-called ‘Future Entity’ which will take on the functions currently carried out by OBL under the Order.
Treasury officials are engaging with the CMA to inform the design of this future framework.
In due course, the Government will consult on its legislative approach, including the powers it intends to provide the FCA to ensure it can effectively oversee the Open Banking ecosystem and its participants.
Economic Secretary (HM Treasury)
The Competition and Markets Authority (CMA) is responsible for ensuring that the obligations under Part 2 of the Retail Banking Market Investigation Order (the Order), and the accompanying Agreed Arrangements, are satisfied. The Government is aware that Open Banking Limited (OBL) has recently conducted a review of its settlement agreements and sought external legal advice to ensure that these are legally compliant.
For the future, the Government has committed to establish a long-term regulatory framework to support the growth of UK Open Banking. This will provide the Financial Conduct Authority (FCA) with powers to regulate Open Banking – including FCA oversight of a so-called ‘Future Entity’ which will take on the functions currently carried out by OBL under the Order.
Treasury officials are engaging with the CMA to inform the design of this future framework.
In due course, the Government will consult on its legislative approach, including the powers it intends to provide the FCA to ensure it can effectively oversee the Open Banking ecosystem and its participants.
Economic Secretary (HM Treasury)
The Competition and Markets Authority (CMA) is responsible for ensuring that the obligations under Part 2 of the Retail Banking Market Investigation Order (the Order), and the accompanying Agreed Arrangements, are satisfied. The Government is aware that Open Banking Limited (OBL) has recently conducted a review of its settlement agreements and sought external legal advice to ensure that these are legally compliant.
For the future, the Government has committed to establish a long-term regulatory framework to support the growth of UK Open Banking. This will provide the Financial Conduct Authority (FCA) with powers to regulate Open Banking – including FCA oversight of a so-called ‘Future Entity’ which will take on the functions currently carried out by OBL under the Order.
Treasury officials are engaging with the CMA to inform the design of this future framework.
In due course, the Government will consult on its legislative approach, including the powers it intends to provide the FCA to ensure it can effectively oversee the Open Banking ecosystem and its participants.
Economic Secretary (HM Treasury)
HM Revenue and Customs (HMRC) does not hold readily available data on the amount of VAT paid by further education colleges in relation to non-business activities for each of the last five financial years.
Further education colleges may undertake a mix of business and non-business activities. While VAT may be incurred on costs associated with these activities, the extent to which it is recoverable depends on the specific circumstances and the application of VAT apportionment methods by individual educational institutions.
Exchequer Secretary (HM Treasury)
As with all significant financial regulation developments in other jurisdictions, HMT is considering the potential implications of the EU Capital Requirements Directive VI on the UK banking sector.
Strengthening our relationships with international partners, including the EU, is a key focus of the Government’s Financial Services Growth and Competitiveness Strategy.
Economic Secretary (HM Treasury)
The Digital Markets, Competition and Consumers Act (DMCCA) 2024 sets out new consumer protection rules for subscription contracts. Once the rules are in force, traders will have to provide clear information about subscription contracts before a consumer signs up, ensure that arrangements to exit the contract are straightforward, and provide a 14-day cooling-off period after a 12month+ contract or trial auto-renews.
Secondary legislation is required to implement the regime. We consulted on proposals and the Government Response can be found here: Consultation on the implementation of the new subscription contracts regime - GOV.UK
The new protections will save the average consumer £14 per month for every unwanted subscription they cancel. The Department for Business and Trade published an Impact Assessment alongside the DMCCA: Subscription traps: annex 2 impact assessment
The DMCCA requirements will apply to traders offering subscriptions and the Government currently has no plans to introduce new requirements on banks to tackle subscription traps. The Government will keep the effectiveness of the new rules under review.
Economic Secretary (HM Treasury)
Work to tackle fraud in claiming VAT refunds is carried out by a range of compliance, counter fraud and operational teams across HMRC. Controls introduced to tackle fraudulent VAT refunds include new reporting routes for customers, strengthened incident management processes, and the deployment of technical enhancements. The improvements in identification and response to VAT repayment fraud are monitored through the reduction in attempts to fraudulently access customer accounts (based on specific criminal methods) and submit fraudulent repayment requests.
The developing Fraud Prevention Centre works collaboratively with specialist teams across the department, including the Risk & Intelligence Service, which leads on detection of VAT repayment fraud, and the Fraud Investigation Service, which leads on criminal and civil investigations. Together this supports HMRC in assessing criminal success rates are reducing, whether VAT fraud controls remain effective, and informs the continued development of the Centre’s capability, tooling and specialist fraud expertise during 2026/27.
Exchequer Secretary (HM Treasury)
The Government is taking action to ensure that fuel at the pump remains affordable. At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027.
The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry.
The Government regularly engages with industry representatives, and as with all taxes, keeps fuel duty under review.
Exchequer Secretary (HM Treasury)
The Government is taking action to ensure that fuel at the pump remains affordable. At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027.
The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry.
The Government regularly engages with industry representatives, and as with all taxes, keeps fuel duty under review.
Exchequer Secretary (HM Treasury)
Customer demand for HMRC services can fluctuate significantly, both seasonally and in response to external events. HMRC uses Managed Service Providers (MSPs) to provide additional, flexible capacity to help manage these types of variations and support performance on customer helplines. Incorporating MSPs into the overall resourcing mix helps HMRC maintain customer service standards, while retaining expertise within its workforce.
This contract was procured through a Government Commercial Agency (previous Crown Commercial Service) framework and meets the stringent controls and standards set by the Agency for Government contracts. This includes ensuring all employment legislation, including National Minimum Wage and Employment Rights Act are adhered to. As Customer Service is skilled work, all suppliers must pay market rates to secure people with the appropriate skills to meet HMRC’s needs.
HMRC are not privatising their services. HMRC will continue to deliver the majority of its customer services through its own customer service staff, and overall HMRC staffing levels are expected to increase over the Spending Review period. HMRC can only recruit to known average levels of customer demand or it risks not providing value for money to the taxpayer. Using mixed resourcing approaches, including MSPs, gives HMRC more flexibility to support customers.
HMRC provides the initial training for the services covered by the MSPs, before approving suppliers to train subsequent cohorts of staff themselves. All operational guidance is developed, owned and updated by HMRC, and HMRC retains full decision‑making authority, with a dedicated team actively managing the partnership.
HMRC is currently in an initial approximately 18 month ‘proof of value’ phase for its use of MSPs and has no plans to publish full staffing projections for MSPs or customer services staff at this stage. Overall the projected cost for 12 months was approximately £23m of resourcing spend. Future workforce decisions will be informed by the outcome of this phase and taken in line with normal business planning and Spending Review processes.
Exchequer Secretary (HM Treasury)
Customer demand for HMRC services can fluctuate significantly, both seasonally and in response to external events. HMRC uses Managed Service Providers (MSPs) to provide additional, flexible capacity to help manage these types of variations and support performance on customer helplines. Incorporating MSPs into the overall resourcing mix helps HMRC maintain customer service standards, while retaining expertise within its workforce.
This contract was procured through a Government Commercial Agency (previous Crown Commercial Service) framework and meets the stringent controls and standards set by the Agency for Government contracts. This includes ensuring all employment legislation, including National Minimum Wage and Employment Rights Act are adhered to. As Customer Service is skilled work, all suppliers must pay market rates to secure people with the appropriate skills to meet HMRC’s needs.
HMRC are not privatising their services. HMRC will continue to deliver the majority of its customer services through its own customer service staff, and overall HMRC staffing levels are expected to increase over the Spending Review period. HMRC can only recruit to known average levels of customer demand or it risks not providing value for money to the taxpayer. Using mixed resourcing approaches, including MSPs, gives HMRC more flexibility to support customers.
HMRC provides the initial training for the services covered by the MSPs, before approving suppliers to train subsequent cohorts of staff themselves. All operational guidance is developed, owned and updated by HMRC, and HMRC retains full decision‑making authority, with a dedicated team actively managing the partnership.
HMRC is currently in an initial approximately 18 month ‘proof of value’ phase for its use of MSPs and has no plans to publish full staffing projections for MSPs or customer services staff at this stage. Overall the projected cost for 12 months was approximately £23m of resourcing spend. Future workforce decisions will be informed by the outcome of this phase and taken in line with normal business planning and Spending Review processes.
Exchequer Secretary (HM Treasury)
Customer demand for HMRC services can fluctuate significantly, both seasonally and in response to external events. HMRC uses Managed Service Providers (MSPs) to provide additional, flexible capacity to help manage these types of variations and support performance on customer helplines. Incorporating MSPs into the overall resourcing mix helps HMRC maintain customer service standards, while retaining expertise within its workforce.
This contract was procured through a Government Commercial Agency (previous Crown Commercial Service) framework and meets the stringent controls and standards set by the Agency for Government contracts. This includes ensuring all employment legislation, including National Minimum Wage and Employment Rights Act are adhered to. As Customer Service is skilled work, all suppliers must pay market rates to secure people with the appropriate skills to meet HMRC’s needs.
HMRC are not privatising their services. HMRC will continue to deliver the majority of its customer services through its own customer service staff, and overall HMRC staffing levels are expected to increase over the Spending Review period. HMRC can only recruit to known average levels of customer demand or it risks not providing value for money to the taxpayer. Using mixed resourcing approaches, including MSPs, gives HMRC more flexibility to support customers.
HMRC provides the initial training for the services covered by the MSPs, before approving suppliers to train subsequent cohorts of staff themselves. All operational guidance is developed, owned and updated by HMRC, and HMRC retains full decision‑making authority, with a dedicated team actively managing the partnership.
HMRC is currently in an initial approximately 18 month ‘proof of value’ phase for its use of MSPs and has no plans to publish full staffing projections for MSPs or customer services staff at this stage. Overall the projected cost for 12 months was approximately £23m of resourcing spend. Future workforce decisions will be informed by the outcome of this phase and taken in line with normal business planning and Spending Review processes.
Exchequer Secretary (HM Treasury)
Landfill Tax receipts for the latest five financial years (2020-21 to 2024-25) are published here: HMRC tax receipts and National Insurance contributions for the UK
Exchequer Secretary (HM Treasury)
The Government has no current plans to make changes to the alcohol duty system that was introduced in 2023 following extensive public consultation. The Government will progress its existing commitment to evaluate the impacts of the 2023 reforms and, as with all taxes, alcohol duty will be kept under review as part of the Budget process.
Exchequer Secretary (HM Treasury)
Vehicle Excise Duty (VED), sometimes known as 'road tax' or 'car tax', is a tax on vehicles used or kept on public roads. Different rates apply to cars, vans, and motorcycles, and the rate for each vehicle is calculated according to a range of factors, such as its date of first registration, weight, or CO2 emissions.
VED for motorcycles is currently based on engine size. There are four engine size ranges, with the lowest rate applying to zero emission motorcycles and the smallest engines sized 150cc or less (currently £27). The highest rate applies to engines sized 600cc and above (currently £125).
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.
Exchequer Secretary (HM Treasury)
The High Value Council Tax Surcharge (HVCTS) is a new charge on owners of residential property in England worth £2 million or more in 2026, taking effect in April 2028. Owners, not residents, will pay the surcharge. The government will consult on potential exemptions and reliefs in due course.
Exchequer Secretary (HM Treasury)
Air Passenger Duty (APD) applies to airlines, rather than individual passengers, and is the principal tax on the aviation sector. APD is charged on passengers travelling on aircraft departing from airports in the UK, with the rate of duty determined by the distance to a passenger’s final destination and the class of travel. From April 2023, APD operates across four destination bands:
- Domestic, covering flights within England, Scotland, Wales and Northern Ireland
- Band A, where the distance from London to the country’s capital is up to 2,000 miles
- Band B, where the distance is between 2,001 miles and 5,500 miles, and
- Band C, where the distance is over 5,500 miles.
Airline operators declare the number of chargeable passengers by destination band and by rate. However, APD receipts are not attributable to distance travelled, and therefore this is not information that HMRC collects.
Exchequer Secretary (HM Treasury)
On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change.
Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter.
The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support.
More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.
Economic Secretary (HM Treasury)
On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change.
Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter.
The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support.
More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.
Economic Secretary (HM Treasury)