HM Treasury

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



Secretary of State

 Portrait

Rachel Reeves
Chancellor of the Exchequer

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

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

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

Liberal Democrat
Charlie Maynard (LD - Witney)
Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)
Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Gareth Davies (Con - Grantham and Bourne)
Shadow Financial Secretary (Treasury)
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)
Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
There are no upcoming events identified
Debates
Wednesday 10th December 2025
Select Committee Docs
Wednesday 10th December 2025
10:00
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
Friday 12th December 2025
Budget November 2025: Self-employed
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the Budget …
Secondary Legislation
Wednesday 10th December 2025
Customs (Tariff and Miscellaneous Amendments) (No. 4) Regulations 2025
Regulation 3 provides for the definitions of EP country and SP country in the Trade Preference Scheme (Developing Countries Trading …
Bills
Thursday 4th December 2025
National Insurance Contributions (Employer Pensions Contributions) Bill 2024-26
A Bill to Make provision to amend section 4 of the Social Security Contributions and Benefits Act 1992, and section …
Dept. Publications
Friday 12th December 2025
11:00

HM Treasury Commons Appearances

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

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

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

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

Most Recent Commons Appearances by Category
Dec. 09
Oral Questions
Nov. 17
Urgent Questions
Nov. 11
Westminster Hall
Dec. 03
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

HM Treasury does not have Bills currently before Parliament


Acts of Parliament created in the 2024 Parliament

Introduced: 25th June 2025

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

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

Introduced: 13th November 2024

A Bill to make provision about secondary Class 1 contributions.

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

Introduced: 6th November 2024

A Bill to make provision about finance.

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

Introduced: 25th July 2024

A Bill to amend the Crown Estate Act 1961.

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

Introduced: 5th March 2025

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

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

Introduced: 6th November 2024

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

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

Introduced: 18th July 2024

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

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

Introduced: 24th July 2024

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

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

HM Treasury - Secondary Legislation

Regulation 3 provides for the definitions of EP country and SP country in the Trade Preference Scheme (Developing Countries Trading Scheme) Regulations 2023 (S.I. 2023/561) (the “DCTS Preference Regulations”) to apply to the Customs (Origin of Chargeable Goods: Developing Countries Trading Scheme) Regulations 2023 (S.I. 2023/557) as well.
This Order amends sections 150(1), 155(1B)(b), and 161(b) of the Income Tax (Earnings and Pensions) Act 2003 (c. 1) (“the Act”).
View All HM Treasury Secondary Legislation

Petitions

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

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

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

Trending Petitions
Petitions with most signatures
Petition Debates Contributed

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

154,007
Petition Closed
13 May 2025
closed 6 months, 4 weeks ago

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

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

View All HM Treasury Petitions

Departmental Select Committee

Treasury Committee

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

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

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


11 Members of the Treasury Committee
Meg Hillier Portrait
Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)
Treasury Committee Member since 9th September 2024
Yuan Yang Portrait
Yuan Yang (Labour - Earley and Woodley)
Treasury Committee Member since 21st October 2024
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 21st October 2024
John Glen Portrait
John Glen (Conservative - Salisbury)
Treasury Committee Member since 21st October 2024
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 21st October 2024
Bobby Dean Portrait
Bobby Dean (Liberal Democrat - Carshalton and Wallington)
Treasury Committee Member since 28th October 2024
Chris Coghlan Portrait
Chris Coghlan (Liberal Democrat - Dorking and Horley)
Treasury Committee Member since 28th October 2024
John Grady Portrait
John Grady (Labour - Glasgow East)
Treasury Committee Member since 9th December 2024
Catherine West Portrait
Catherine West (Labour - Hornsey and Friern Barnet)
Treasury Committee Member since 27th October 2025
Luke Murphy Portrait
Luke Murphy (Labour - Basingstoke)
Treasury Committee Member since 27th October 2025
Jim Dickson Portrait
Jim Dickson (Labour - Dartford)
Treasury Committee Member since 27th October 2025
Treasury Committee: Upcoming Events
Treasury Committee - Oral evidence
Work of the Financial Conduct Authority
16 Dec 2025, 9:45 a.m.
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Treasury Committee: Previous Inquiries
The Financial Conduct Authority’s Regulation of London Capital & Finance plc Budget 2021 Work of National Savings and Investments Lessons from Greensill Capital Appointment of Carolyn Wilkins to the Financial Policy Committee Appointment of Tanya Castell to the Prudential Regulatory Committee The work of the Prudential Regulation Authority Reappointment of Jill May and Julia Black to the Prudential Regulation Committee Committee on COP26: climate change and finance Spring Budget 2020 Appointment of Sarah Breeden to the Financial Policy Committee Appointment of Catherine Mann to the Monetary Policy Committee Reappointment of Jonathan Haskel to the Monetary Policy Committee Bank of England July Financial Stability Report and August Monetary Policy Report Economic Crime Regional Imbalances in the UK economy The Work of the Debt Management Office Appointment of Richard Hughes as Chair of the Office for Budget Responsibility Reappointment of Professor Silvana Tenreyro to the Monetary Policy Committee Reappointment of Andy Haldane to the Monetary Policy Committee Appointment of Jonathan Hall to the Financial Policy Committee Appointment of Nikhil Rathi as Chief Executive of the Financial Conduct Authority Maxwellisation inquiry The work of National Savings and Investments inquiry Retail Banking Market Review inquiry HMRC Executive Chair and Chief Executive Financial stability one-off hearing Appointment of the CEO of Financial Conduct Authority Bank of England Financial Stability Report Hearings 2016-17 UK's future economic relationship with the EU inquiry Appointment of Deputy Governor for Prudential Regulation EU Insurance Regulation inquiry HM Treasury: Report and Accounts 2015 – 2016 Appointment of Michael Saunders to the Monetary Policy Committee Appointment of Anil Kashyap to the Financial Policy Committee Tax credits, fraud and error inquiry The work of the Chancellor of the Exchequer inquiry Bank of England Inflation Report Hearing August 2016 Prudential Regulation Authority inquiry Sir Charles Bean appointment to Budget Responsibility Committee UK tax policy and the tax base inquiry Government Internal Audit Agency inquiry HM Treasury Annual Report and Accounts 2014-15 inquiry Valuation Office Agency inquiry Independent review of report into failure of HBOS inquiry Review of the Office for National Statistics inquiry Appointment of Angela Knight as Chair of the Office for Tax Simplification Appointment of Tim Parkes as Chair of Regulatory Decisions Committee Budget 2016 inquiry Financial Policy Committee re-appointment hearings Bank of England Inflation Report Hearing May 2016 Work of the Court of the Bank of England inquiry Bank of England Inflation Report Hearing February 2017 Appointment of the Deputy Governor for Markets and Banking Budget 2017 inquiry Restoration and Renewal of the Palace of Westminster inquiry Capital inquiry Work of the Payment Systems Regulator inquiry Effectiveness and impact of post-2008 UK monetary policy Access to basic retail financial services inquiry Financial Conduct Authority inquiry Bank of England Inflation Report Hearing November 2016 UK Financial Investments annual reports and accounts 2015-16 Housing Policy inquiry Autumn Statement 2016 Household finances: income, saving and debt inquiry Bank of England Inflation Reports inquiry Budget Autumn 2017 inquiry Student Loans inquiry The UK's economic relationship with the European Union inquiry The work of the Bank of England inquiry The work of the Financial Conduct Authority The work of the National Infrastructure Commission inquiry Women in finance inquiry Appointment of Professor Silvana Tenreyro to the Monetary Policy Committee Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking, Bank of England The work of the Chancellor of the Exchequer EU Insurance Regulation inquiry HMRC Annual Report and Accounts inquiry Re-appointment of Professor Anil Kashyap to the Financial Policy Committee inquiry Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England inquiry The effectiveness of gender pay gap reporting inquiry Decarbonisation of the UK Economy and Green Finance inquiry Regional Imbalances in the UK Economy inquiry Work of the Financial Services Compensation Scheme inquiry Spending Round 2019 inquiry Access to Cash Review inquiry Appointment of Kathryn Cearns as Chair of the Office of Tax Simplification inquiry The future of the UK’s financial services inquiry The impact of Business Rates on business inquiry Spring Statement 2019 inquiry The work of the Adjudicator’s Office inquiry The work of the Debt Management Office inquiry Independent Review of the Co-Operative Bank inquiry Work of the Court of the Bank of England inquiry Tax enquiries and resolution of tax disputes inquiry IT failures in the financial services sector inquiry Work of the Banking Standards Board inquiry Independent Review of the Financial Ombudsman Service Appointment of Bradley Fried as Chair of Court, Bank of England Appointment of Professor Jonathan Haskel to the Monetary Policy Committee Andy King, Nominated Member of the Budget Responsibility Committee Re-appointment of Dr Gertjan Vlieghe to the Monetary Policy Committee Maxwellisation inquiry Work of the Valuation Office Agency inquiry Appointment of Julia Black as external member of the Prudential Regulation Committee Appointment of Jill May as an external member of the Prudential Regulation Committee Consumers’ Access to Financial Services inquiry The re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at the Bank of England inquiry Budget 2018 inquiry The Work of the Treasury inquiry Service Disruption at TSB inquiry Economic Crime inquiry Re-appointment of Alex Brazier to the Financial Policy Committee Re-appointment of Donald Kohn to the Financial Policy Committee Re-appointment of Martin Taylor to the Financial Policy Committee VAT inquiry Spring Statement 2018 Digital Currencies inquiry Appointment of Charles Randell as Chair of the Financial Conduct Authority SME Finance inquiry Appointment of Elisabeth Stheeman to the Bank of England Financial Policy Committee The work of the Prudential Regulation Authority inquiry Bank of England Financial Stability Reports RBS's Global Restructuring Group and its treatment of SMEs inquiry Childcare inquiry The work of the Payment Systems Regulator inquiry HM Treasury Annual Report and Accounts inquiry Women in the City Crown Estate Cheques, the end of? Mortgage Arrears and Access to Mortgage Finance: Follow up Financial Institutions - Too Important To Fail? Budget 2010 Credit Searches European Macro and Micro Prudential Financial Regulation Presbyterian Mutual Society Pre-Budget Report 2009 Budget 2009 Pre-Budget Report 2008 Budget 2008 Pre-Budget Report 2007 Mortgage Arrears and Access to Mortgage Finance Evaluating the Efficiency Programme Administration and expenditure of the Chancellor’s Departments, 2008-09 Banking Crisis Banking Crisis: International Dimensions Banking Reform Run on the Rock Budget June 2010 Competition and choice in the banking sector Office for Budget Responsibility Financial Regulation Spending Review 2010 Administration and effectiveness of HMRC The principles of tax policy Retail Distribution Review European financial regulation Autumn forecast 2010 Accountability of the Bank of England Private Finance Initiative Budget 2011 Future of Cheques Independent Commission on Banking: Interim Report Closing the tax gap: HMRC's record at ensuring tax compliance Budget Measures and Low-income Households Financial Conduct Authority Inherited Estates Counting the population Administration and expenditure of the Chancellor's Departments, 2006-07 Comprehensive Spending Review 2007 Administration and expenditure of the Chancellor's Departments, 2007-08 Independent Commission on Banking: Final Report Global Imbalances Autumn Statement 2011 Budget 2012 Corporate governance and remuneration Money Advice Service LIBOR FSA's report into HBOS Spending Round 2013 Project Verde Macroprudential tools Disposal of Government Stakes in RBS and Lloyds Credit Rating Agencies Autumn Statement 2012 Appointment of Dr Mark Carney as Governor of the Bank of England Budget 2013 Quantitative easing Private Finance 2 Autumn Statement 2013 Bank of England Financial Stability Report hearings: Session 2014-15 Appointment hearings, Session 2013-14 Bank of England Inflation Report Hearings: Session 2013-14 EU Financial Regulation Monetary Policy: Forward Guidance UK Financial Investments Ltd 2013 The economics of HS2 SME Lending Financial Conduct Authority hearings The costing of pre-election policy proposals Performance of the Royal Mint Budget 2014 The economics of currency unions OBR: July 2013 Fiscal Sustainability Report Banks' Lending Practices: Treatment of Businesses in Distress RBS Independent Lending Review Prudential Regulation Authority Hearings: Session 2014-15 HM Treasury Annual Report and Accounts 2013-14 Treatment of Financial Services Consumers Bank of England Inflation Report Hearings: Session 2014-15 HMRC Business Plan 2014-16 Manipulation of Benchmarks Appointment hearings, Session 2014-15 Co-op Governance Review Cost effectiveness of economic and financial sanctions Bank of England Financial Stability Report Hearings 2015-16 Bank of England Inflation Report Hearings 2015-16 Summer Budget 2015 inquiry UK Financial Investments Ltd Annual Report and Accounts 14-15 Review of scope and performance of Office for Budget Responsibility Bank of England Bill inquiry Chair of Office for Budget Responsibility reappointment hearing HMRC Annual Report and Accounts 2014-15 inquiry Prudential Regulation Authority inquiry Comprehensive Spending Review and Autumn Statement 2015 inquiry Review of CMA work on Retail Banking Market one-off session Financial Conduct Authority Practitioner Panels one-off session Appointment of Gertjan Vlieghe to the Monetary Policy Committee hearing Reappointment of Ian McCafferty to the Monetary Policy Committee hearing Financial Conduct Authority Economic and financial costs and benefits of UK's EU membership Crown Estate Annual Report and Accounts 2013/14 Bank of England Foreign Exchange Market Investigation HM Revenue and Customs and HSBC Budget 2015 The UK's EU Budget Contributions Press briefing of information in the Financial Conduct Authority’s 2014/15 Business Plan Fair and Effective Markets Review The Payment Systems Regulator Implementing the recommendations on the Parliamentary Commission on Banking Standards Autumn Statement 2014 Work of the Tax Assurance Commissioner UK Financial Investments Ltd Proposals for further Fiscal and Economic Devolution to Scotland Debt Management Office Annual Report and Accounts 2013-14 UK Customs Policy Infrastructure The cost of living The venture capital market The crypto-asset industry Tax Reliefs September 2022 Fiscal Event The Financial Services and Markets Bill The mortgage market The Edinburgh Reforms Quantitative tightening Retail Banks Appointment of Andrew Bailey as Governor of the Bank of England Work of Government Actuary’s Department Work of the Financial Ombudsman Service Work of HM Treasury Future of Financial Services Spending Review 2020 HMRC Annual Report and Accounts Bank of England Financial Stability Reports The appointment of John Taylor to the Prudential Regulation Committee UK’s economic and trading relationship with the EU The appointment of Antony Jenkins to the Prudential Regulation Committee Access to Cash Review Bank of England Financial Stability Reports Bank of England Inflation Reports Consumers’ Access to Financial Services Decarbonisation of the UK Economy and Green Finance Economic Crime The effectiveness of gender pay gap reporting HMRC Annual Report and Accounts inquiry Tax enquiries and resolution of tax disputes IT failures in the financial services sector Appointment of Dame Colette Bowe to the Financial Policy Committee Re-appointment of Professor Anil Kashyap to the Financial Policy Committee Work of the Financial Services Compensation Scheme Spending Round 2019 The impact of Business Rates on business Work of the Court of the Bank of England Independent Review of the Co-Operative Bank Regional Imbalances in the UK Economy Re-appointment of Michael Saunders to the Monetary Policy Committee Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England Maxwellisation RBS's Global Restructuring Group and its treatment of SMEs SME Finance Spring Statement 2019 The future of the UK’s financial services HM Treasury Annual Report and Accounts Service Disruption at TSB The UK's economic relationship with the European Union VAT The work of the Bank of England The work of the Chancellor of the Exchequer The work of the Financial Conduct Authority The Work of the Treasury The work of the Prudential Regulation Authority

50 most recent Written Questions

(View all written questions)
Written Questions can be tabled by MPs and Lords to request specific information information on the work, policy and activities of a Government Department

4th Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the Budget 2025 on areas with lower average incomes in each region.

HM Treasury’s ‘Impact on households’ publication, produced alongside Budget 2025, shows that the impact of government tax, welfare and public service spending decisions from Autumn Budget 2024 onwards are benefit households in the lowest income deciles the most, on average HM Treasury does not produce a distributional assessment of policy decisions at a subnational level.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, how much the OBR has cost the public purse for each year since it was established.

The Office for Budget Responsibility (OBR) was established by the Budget Responsibility and National Audit Act 2011. Its annual report and accounts, which are laid before Parliament and published on its website, set out in detail the OBR’s expenditure and funding for each year since its establishment.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, how many staff have been employed by the OBR in each year since it was established.

The Office for Budget Responsibility (OBR) was established by the Budget Responsibility and National Audit Act 2011. Its annual report and accounts, which are laid before Parliament and published on its website, set out detail on the number of staff employed at the end of March in each year.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, pursuant to the answer of of 7 May 2025 to question 48538, what the timetable is for the Crown Estate negotiating a Partnership Agreement with GB Energy.

Great British Energy's Strategic plan, published on 4 December 2025, sets out detail regarding arrangements between the two organisations.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, if she will provide a list of assets held by the Crown Estate.

This information can be found on The Crown Estate website.

James Murray
Chief Secretary to the Treasury
3rd Dec 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 October to Question 77717 on Betting: Excise Duties, if she will list relevant engagements with ministers.

The Chancellor discusses a variety of issues with Ministers from other government departments throughout the year.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact on future VCT fundraising by reducing upfront VCT Income Tax relief from 30% to 20% from April 2026; and when her Department will publish that impact assessment.

At Budget, the government announced a comprehensive package of entrepreneurship tax measures designed to provide substantially enhanced support for scaling businesses across the UK. This includes doubling the maximum amount that a company can raise through the Enterprise Investment Scheme (EIS) and the Venture Capital Trust (VCT) scheme. These increases will lead to around £100 million per year of extra investment into the most successful scaling companies, supporting their further growth and development.

The Government recognises that there may be other ways we could support companies to scale in the UK. We have therefore launched a Call for Evidence on tax policy support for investment in high-growth UK companies to gather views and evidence from founders, entrepreneurs, scaling companies and investors. This will assess the impact, accessibility, and generosity of existing schemes, and explore potential policy options to go-further.

A Tax Information and Impact Note published at Budget outlines the policy rationale and impacts of these measures. It can be found here: https://www.gov.uk/government/publications/enterprise-investment-scheme-eis-and-venture-capital-trusts-vct-changes/venture-capital-trusts-enterprise-investment-scheme-investment-limit-increase-and-restructure

The Policy Costings document contains further information on the costing methodology. This can be found here: https://assets.publishing.service.gov.uk/media/692872fd2a37784b16ecf676/Budget_2025-Policy_Costings.pdf

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of raising taxes on property income on the private rented sector, including supply and rent levels.

The independent Office for Budget Responsibility does not expect that the reform to property income tax will have a significant impact on rental prices.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what estimate she has made of the average increase in annual tax paid by households earning between £25,000 and £50,000 following the Autumn Budget 2025.

HM Treasury’s ‘Impact on households’ publication, produced alongside Budget 2025, shows that the impact of government tax, welfare and public service spending decisions from Autumn Budget 2024 onwards are progressive and benefit households in the lowest income deciles the most, on average, with increases in tax concentrated on the highest income households. On average, all but the richest 10% of households will benefit from policy decisions in 2028-29.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, whether she is considering additional fiscal support for (a) small business and (b) hospitality.

The hospitality sector and small businesses make significant contributions to the exchequer, the UK economy, and society.

At the Budget, the VOA announced updated property values from the 2026 revaluation. This revaluation is the first since Covid, which has led to significant increases in rateable values for some properties, including those in the hospitality sector as they recover from the pandemic. To support with bill increases, at the Budget, the Government announced a support package worth £4.3 billion over the next three years, including protection for ratepayers seeing their bills increase because of the revaluation. As a result, over half of ratepayers will see no bill increases, including 23% seeing their bills go down. This means most properties seeing increases will see them capped at 15% or less next year, or £800 for the smallest.

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

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

The new RHL tax rates replace the temporary RHL relief that has been winding down since Covid. Unlike RHL relief, the new rates are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.

Furthermore, we have worked with the hospitality sector to announce the first National Licensing Policy Framework which sets a new strategic direction for licensing authorities and encourages them to have more regard to growth when reviewing licensing applications and decisions. Responding to sector asks, we will also explore further planning reforms to make it easier for hospitality and high-street businesses to expand and grow. To help drive these reforms, we will appoint a new Retail and Hospitality Envoy to champion these sectors across government.

This is on top of measures we have already announced, such as:

  • increasing the Employment Allowance to £10,500 – protecting the smallest businesses from the increase to employer National Insurance;
  • protection against upward only rent clauses, and
  • the introduction of strong new ‘Community Right to Buy’ to help communities safeguard valued community assets – such as pubs.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what engagement she undertook with the pub and hospitality sector ahead of the 2025 Budget, particularly in the context of Business Rates.

Treasury Ministers and officials engaged with a wide range of stakeholders across the pub and hospitality sector ahead of the Budget to discuss business rates.

We continue to engage with the hospitality sector to understand the pressures they face.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to the Air Passenger Duty in the Autumn Budget 2025 on the competitiveness of the UK aviation sector compared to other European countries.

The government is committed to the long-term future of the aviation sector in the UK and recognises the benefits of the connectivity it creates between the UK and the rest of the world. The government remains committed to maintaining a competitive and dynamic aviation sector that supports jobs, skills, and innovation across the UK.

Following previous increases to Air Passenger Duty (APD) rates to account for below inflation rates, the government will uprate APD rates in line with RPI from 1 April 2027 and rounded to the nearest penny. This constitutes a real terms freeze.

This will continue 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.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, whether, following the Government’s decision to abolish the Valuation Office Agency and transfer its functions into HM Revenue and Customs, she plans to maintain the current Valuation Office Agency methodology for assessing business-rates valuations.

At Budget 2025, the government published a Call for Evidence on Business Rates and Investment which will explore concerns raised by a small number of ratepayers whose properties are valued on the ‘Receipts & Expenditure’ methodology and options to improve predictability and stability.
Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, with reference to the Autumn Budget 2025, published on 26 November, HC 1492, on what evidential basis she estimated the saving arising from the abolition of Police and Crime Commissioners and re-organising local government structures.

The Government is committed to cutting the cost of politics.

The figures were calculated based on estimated savings from the potential reduction in local councillors through local government reorganisation and from the abolition of Police and Crime Commissioners.

These estimates are built from a range of sources including Local Government Boundary Commission data; salaries; office costs; election costs; sampling of councillor expenditure data from current authorities.

James Murray
Chief Secretary to the Treasury
4th Dec 2025
To ask the Chancellor of the Exchequer, what assessment has been made of the potential impact of coordinating place-based (a) Government funding and (b) philanthropic, institutional and private sector investment on regional growth.

Following a review of the Green Book, the government has announced the introduction of place-based business cases. This new approach will highlight the reinforcing effects of different investments within an area and better coordinate both public sector funding decisions and non-public sector investments in specific places to support growth. Liverpool, Plymouth, Port Talbot and Birmingham will be the first adopters of place-based business cases. The government will set out plans to rollout place-based business cases further in due course.

More widely, Government is giving local leaders and communtiies the power and resources to make decisions for their places.

James Murray
Chief Secretary to the Treasury
4th Dec 2025
To ask the Chancellor of the Exchequer, whether her Department has considered publishing separate figures for the amount raised in each nation and region, including Scotland, from the apprenticeship levy collected via HMRC.

HMRC does not require or collect data on where in the UK the economic activities occurs in order to collect the Apprenticeship Levy.

Receipts data based on company registered addresses do not necessarily reflect where liabilities are accrued.

James Murray
Chief Secretary to the Treasury
8th Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of limiting interest-earning reserves on the commercial viability of pound-backed stablecoins.

The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.

That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.

This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.

Lucy Rigby
Economic Secretary (HM Treasury)
8th Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of restricting stablecoin use in wholesale markets on the development of tokenised settlement systems.

The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.

That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.

This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.

Lucy Rigby
Economic Secretary (HM Treasury)
8th Dec 2025
To ask the Chancellor of the Exchequer, what steps is taking to support UK participation in digital settlement markets.

The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.

That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.

This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.

Lucy Rigby
Economic Secretary (HM Treasury)
8th Dec 2025
To ask the Chancellor of the Exchequer, what discussions she has had with regulators on permitting multi-jurisdiction reserve models for pound sterling stablecoin issuance.

The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.

That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.

This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.

Lucy Rigby
Economic Secretary (HM Treasury)
8th Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the regulatory approach on investor adoption of pound sterling based stablecoins.

The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.

That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.

This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.

Lucy Rigby
Economic Secretary (HM Treasury)
9th Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the effectiveness of the online Self Assessment Time to Pay system in reducing the number of late payment penalties.

HMRC’s Time to Pay (TTP) arrangements help taxpayers to pay their liabilities in affordable and sustainable instalments. Late payment penalties do not apply provided the plan is agreed before penalty trigger dates and instalments are paid on time.

HMRC’s online TTP service for Self Assessment offers taxpayers the option to set up their own payment plans for Self Assessment debts up to £30,000. HMRC publishes data on TTP arrangements as part of its quarterly performance updates and in its Annual Report and Accounts. Over 90% of TTP arrangements are completed successfully, demonstrating their effectiveness in supporting compliance and reducing penalties.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of including oil refining within the UK Carbon Border Adjustment Mechanism.

The government recognises that refineries play a role in energy security and the UK’s industrial base, and will publish a call for evidence on the fuel sector. The government is also considering the feasibility and impacts of including refined products in the Carbon Border Adjustment Mechanism (CBAM) in future.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, how many visas a) her Department, b) the Government Actuary's Department, c) the UK Debt Management Office, d) the National Wealth Fund, e) the Crown Estate, f) the Financial Conduct Authority, g) UK Government Investments, and h) HM Revenue & Customs have sponsored since 4 July 2024.

We do not disclose the exact number of visas sponsored due to GDPR, but can confirm that fewer than five visas have been sponsored since 4 July 2024. Information requested on arm’s length bodies is not held centrally.

Lucy Rigby
Economic Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the Budget 2025 on (a) investment and (b) hiring decisions by small and medium-sized enterprises.

We are cutting borrowing and debt, and supporting the Bank of England by tackling the persistent high inflation that dampens investment in the UK and slows economic growth. The Government set out its overall approach for supporting SMEs in the Small Business Strategy published in July 2025 and built on this with targeted reforms to support small businesses at Autumn Budget 2025. We are supporting employment and skills by changing the rules to fully fund SME apprenticeships training costs for eligible people under the age of 25. At the Budget we announced an Entrepreneurship which includes the largest ever injection of capital into the British Business Bank. Over the next five years, the British Business Bank will enable up to an additional £10 billion in small business lending through guarantees. We are also doubling the eligibility of our enterprise tax incentives to boost scale-ups and consulting on plans to reduce business energy prices.

Lucy Rigby
Economic Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the Budget on self-employed workers, including freelancers and contractors.

The Government is committed to a fair tax system that supports small firms and the self-employed, while ensuring the ongoing funding of essential public services and economic stability. The Budget raises revenue in a fair and progressive way, and the Government is sticking to its manifesto pledge not to increase the headline rates of income tax, National Insurance and VAT and its commitments in the Corporate Tax Roadmap.

We are providing support for small businesses and the self-employed in a number of areas. We are introducing the toughest late payment laws in the G7. Through the new Business Growth Service, small businesses will be able to access support with skills training, recruitment, or accessing Start Up Loans and Export Finance.

We are taking wider measures to ensure the wider economic environment is conducive to growth. We are cutting borrowing and debt, and supporting the Bank of England by tackling the persistent high inflation that dampens investment in the UK and slows economic growth. Government took measures at Budget to reduce consumer price inflation by 0.4pp in 2026/27.

Lucy Rigby
Economic Secretary (HM Treasury)
4th Dec 2025
To ask His Majesty's Government what assessment they have made of the Organisation for Economic Co-operation and Development Economic Outlook for the United Kingdom, published on 2 December.

The Organisation for Economic Co-operation and Development (OECD) is an independent international organisation. The OECD’s forecast following the Budget has upgraded UK growth and reduced inflation for 2026. This follows stronger than expected growth this year, though there is much more to do.

The Budget is boosting economic growth and delivers on the country’s priorities of cutting the cost of living, reducing NHS waiting lists, and driving down our borrowing and debt.

Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government what recent assessment they have made of the annual reduction in taxation revenue due to the decision to leave the European Union.

The Treasury does not publish forecasts of the economy or the public finances. Forecasts of future tax receipts are produced by the Office for Budget Responsibility (OBR) as part of its Economic and Fiscal Outlook (EFO).

The OBR has set out how the UK's exit from the European Union (EU) has affected its forecast. The OBR assessed the impact of the Trade and Cooperation Agreement on UK trade in Box 2.4 of the March 2024 EFO and reconfirmed that assessment in the latest EFO, which is available here: https://obr.uk/efo/economic-and-fiscal-outlook-november-2025/

Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government what assessment they have made of the impact of the £2,000 cap on national insurance-free salary sacrifice pension contributions on costs for (1) employees, and (2) employers.

A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to pensions salary sacrifice. The TIIN sets out the impact on employees and employers and is available here: https://www.gov.uk/government/publications/salary-sacrifice-reform-for-pension-contributions-effective-from-6-april-2029/salary-sacrifice-reform-for-pension-contributions

Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government what assessment they have made of the impact of extending the income tax threshold freeze on the number of people paying income tax, in particular the number of higher rate and additional rate taxpayers.

The Government assesses every measure in the Budget and has published a tax information and impact note (TIIN) outlining our assessment of the policy. This is available here: https://www.gov.uk/government/publications/maintaining-income-tax-and-equivalent-national-insurance-contributions-thresholds-until-5-april-2031/income-tax-maintaining-the-personal-allowance-and-the-basic-rate-limit-for-income-tax-and-equivalent-national-insurance-contributions-thresholds-unt.


The number of people forecast to pay tax by marginal rate can also be found in Table 3.19 in the OBR’s November 2025 Economic and Fiscal Outlook, which is available here: https://obr.uk/efo/economic-and-fiscal-outlook-november-2025/

Lord Livermore
Financial Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, how many staff are employed by HMRC in national minimum wage enforcement in 2025-26; and how many of these staff are a) based in Scotland and b) cover Scotland in their role responsibilities.

As of September 2025, HMRC employed 442 people as part of its National Minimum Wage (NMW) Enforcement unit. Of these, 44 are based in Scotland.

The NMW teams which are based in Edinburgh and East Kilbride are part of HMRC’s National NMW compliance function. These team’s work not only incorporates NMW compliance activity within Scotland, but it also covers activity across the UK. Some NMW compliance activity in Scotland is also undertaken by other UK based NMW teams.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government what assessment they have made of the impact on small drink manufacturers, including administrative burdens, of the proposed changes to the Soft Drinks Industry Levy, including its extension to milk-based and plant-based drinks and the lowering of the sugar threshold to 4.5 g per 100 ml.

The changes to the Soft Drinks Industry Levy (SDIL) confirmed at the Budget in November 2025 were informed by the ‘Strengthening the Soft Drinks Industry Levy’ consultation, which was open from 28 April to 21 July 2025. Representations from small manufacturers, and the trade bodies representing them, were received and considered as part of this process.

On 25 November 2025, the government published its summary of responses to the consultation, including a full assessment of the impacts of the announced policy changes to the levy. This is available here:

https://www.gov.uk/government/consultations/strengthening-the-soft-drinks-industry-levy/outcome/strengthening-the-soft-drinks-industry-levy-summary-of-responses


The smallest producers, producing less than a million litres a year, will remain exempt from the SDIL.

Lord Livermore
Financial Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, whether it remains the Government’s policy to reform the business rates system to level the playing field between bricks and mortar businesses and large online businesses.

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

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

Unlike RHL relief, the new rates are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.

The Government is paying for lower tax rates for RHL through higher rates on the top one per cent of most expensive properties. Large distribution warehouses, such as those used by online giants, will pay around £100m more in 2026/27, with this going directly to lower bills for in-person retail.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, whether it is her policy to use the business rates system to help support high street businesses in the context of their competition with online retailers.

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

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

Unlike RHL relief, the new rates are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.

The Government is paying for lower tax rates for RHL through higher rates on the top one per cent of most expensive properties. Large distribution warehouses, such as those used by online giants, will pay around £100m more in 2026/27, with this going directly to lower bills for in-person retail.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, whether it is her policy to use the business rates system to help support high street businesses in the context of their competition with online retailers.

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

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

Unlike RHL relief, the new rates are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.

The Government is paying for lower tax rates for RHL through higher rates on the top one per cent of most expensive properties. Large distribution warehouses, such as those used by online giants, will pay around £100m more in 2026/27, with this going directly to lower bills for in-person retail.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of business rates increases at airports on i.) passenger ticket prices and ii.) airline route planning.

The government is committed to enabling investment so that airports can play their full role in the growth mission.

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

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

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the effect of business rates increases at Gatwick, Manchester and other UK airports on passenger ticket prices and airline route planning.

The government is committed to enabling investment so that airports can play their full role in the growth mission.

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

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

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what estimate she has made of the revenues generated from the ending of free allowances under the UK Emissions Trading Scheme for aviation; and whether she plans to allocate those revenues to support the production of Sustainable Aviation Fuel.

The UK ETS Authority announced in July 2023 that free allocation would end for the Aviation sector in 2026, after considering stakeholder feedback which largely supported the finding that removing aviation free allocation did not pose a significant risk to carbon leakage.

The independent Office for Budget Responsibility is responsible for forecasting receipts from the UK Emissions Trading Scheme (ETS), and has published its methodology for forecasting ETS receipts on its website.

Receipts from the UK ETS accrue to the consolidated fund, and go to funding government priorities, which includes decarbonisation support for the aviation sector.

The UK Government is supporting the Sustainable Aviation Fuel (SAF) industry by building demand through the SAF Mandate, supporting first-of-a-kind SAF production plants through the Advanced Fuels Fund, and derisking SAF projects by introducing legislation for the Revenue Certainty Mechanism. In 2025, the government announced £400,000 to get new fuels to market quicker, delivering on the UK’s clean energy ambitions and powering up economic growth as part of the Plan for Change.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, how she plans to assess and administer the new high-value property charge; what steps she is taking to prevent avoidance and undervaluation; and whether there will be transitional relief for homeowners whose property value has recently increased due to market fluctuations.

The Valuation Office Agency will be conducting a targeted valuation to identify properties in scope of the High Value Council Tax Surcharge (HVCTS). HVCTS will then be collected by local authorities.

The Government will consult on the detailed implementation of the HVCTS in the new year, including the provision of support for those who may find it more difficult to pay. Further information on HVCTS is available at the following link:

High Value Council Tax Surcharge - GOV.UK

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of introducing a 3p-per-mile charge for electric cars and 1.5p for plug-in hybrids on low-income households, the environment, society and the economy.

As announced at Budget 2025, the Government is introducing Electric Vehicle Excise Duty (eVED) from April 2028, a new mileage charge for electric and plug-in hybrid cars, recognising that EVs contribute to congestion and wear and tear on the roads but pay no equivalent to fuel duty.

The Government has set out estimated impacts on household incomes from tax, welfare and public service spending decisions taken at Budget 2025, including eVED. These impacts are available at GOV.UK: https://assets.publishing.service.gov.uk/media/69269c6222424e25e6bc31bb/Impact_on_households.pdf

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

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of HMRC's ability to collect unpaid taxes.

HMRC is committed to making sure that individuals and businesses who can pay, do so on time. Since Autumn Budget 2024, HMRC has received £782 million of investment in its debt collection activities, which will help it to collect over £12 billion more debt by the end of 2030-31.

HMRC published an update to its tax debt strategy at Budget 2025, outlining how the recent investment is helping to close the tax gap and reduce tax debt year-on-year as a percentage of receipts. The tax debt balance as a percentage of receipts fell from 5.2% in 2023-24 to 5% in 2024-25, and HMRC is aiming for this to decrease to between 3% and 4% by 2029-30.

HMRC has effective processes in place to collect debt including telephone and letter campaigns, strategic partnerships with private sector debt collection agencies, and where necessary, enforcement action. For customers who need financial support, it offers flexible Time to Pay payment plans which collect debt in affordable and sustainable instalments.

HMRC publishes quarterly performance updates on GOV.UK. You can find this here:

Dan Tomlinson
Exchequer Secretary (HM Treasury)
3rd Dec 2025
To ask the Chancellor of the Exchequer, if she will set out the difference between (a) recovered unpaid taxes and (b) outstanding unpaid taxes in the period since July 2024 to date.

HMRC is committed to making sure that individuals and businesses who can pay, do so on time. Since Autumn Budget 2024, HMRC has received £782 million of investment in its debt collection activities, which will help it to collect over £12 billion more debt by the end of 2030-31.

HMRC published an update to its tax debt strategy at Budget 2025, outlining how the recent investment is helping to close the tax gap and reduce tax debt year-on-year as a percentage of receipts. The tax debt balance as a percentage of receipts fell from 5.2% in 2023-24 to 5% in 2024-25, and HMRC is aiming for this to decrease to between 3% and 4% by 2029-30.

HMRC has effective processes in place to collect debt including telephone and letter campaigns, strategic partnerships with private sector debt collection agencies, and where necessary, enforcement action. For customers who need financial support, it offers flexible Time to Pay payment plans which collect debt in affordable and sustainable instalments.

HMRC publishes quarterly performance updates on GOV.UK. You can find this here:

Dan Tomlinson
Exchequer Secretary (HM Treasury)
4th Dec 2025
To ask the Chancellor of the Exchequer, whether it is her policy to reform the business rates system to support physical businesses against online retailers.

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

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

Unlike RHL relief, the new rates are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.

The Government is paying for lower tax rates for RHL through higher rates on the top one per cent of most expensive properties. Large distribution warehouses, such as those used by online giants, will pay around £100m more in 2026/27, with this going directly to lower bills for in-person retail.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 14 May (HL7072), whether (1) garden sheds, (2) conservatories, (3) fish ponds, and (4) garden gnomes, within the curtilage of a domestic dwelling, are deemed to be a material consideration by the Valuation Office Agency when a property is valued for council tax in (1) England, and (2) Wales, including when valuing homes under the high value council tax surcharge.

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

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

Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government how much money they estimate will be allocated to (1) Wales, (2) Scotland, and (3) Northern Ireland, as part of the Budget 2025.

As a result of decisions at Autumn Budget 2025, through the operation of the Barnett formula:

(1) The Welsh Government will receive an additional £320 million RDELex and £185 million CDEL.

(2) The Scottish Government will receive an additional £510 million RDELex and £310 million CDEL.

(3) The Northern Ireland Executive will receive an additional £240 million RDELex and £130 million CDEL.

Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government whether there are any measures in the Budget 2025 specifically designed to support families in small family farms.

The Government has taken significant steps to support farmers. The Government allocated a record £11.8 billion to sustainable farming and food production over this Parliament at the Spending Review 2025.

The Government also announced at the Budget in November 2025 that any unused £1 million allowance for the 100% rate of agricultural property relief and business property relief will be transferable between spouses and civil partners. This means a surviving spouse or civil partner can benefit from an allowance of up to £2 million for combined agricultural and business assets depending on their circumstances. It also reduces the complexity and planning for spouses and civil partners seeking to make best use of the allowance between them.


Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government whether the additional £370 million allocated to Northern Ireland is an annual uplift in the block grant or a cumulative figure spread over a number of financial years.

As a result of decisions at Budget 2025, the Northern Ireland Executive will receive an additional £240 million RDEL excluding depreciation and £130 million CDEL over the Spending Review 2025 period (2025-26 to 2029-30) through the operation of the Barnett formula.


Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government how much the Welsh Government received in Barnett consequentials in 2025–26 from the childcare offer in England.

The Barnett formula applies to all changes to UK Government department Departmental Expenditure Limits (DEL) funding.

At Spending Reviews, the Barnett consequentials associated with individual programmes cannot be identified because the Barnett formula is applied to the overall change in a departments’ DEL, and not to the individual programmes driving the change in a UK department’s DEL budget. This is the case for the additional funding for childcare in England provided at Spending Review 2025.

The Welsh Government are free to allocate Barnett consequentials as they see fit across their devolved priorities, and they are accountable to the Senedd for these decisions.

Lord Livermore
Financial Secretary (HM Treasury)
27th Nov 2025
To ask His Majesty's Government whether the high value council tax surcharge valuations by the Valuation Office Agency will include (1) drive-by site visits, or (2) site visits within the curtilage of the dwelling, by valuation staff.

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

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

Lord Livermore
Financial Secretary (HM Treasury)