HM Treasury

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



Secretary of State

 Portrait

Rachel Reeves
Chancellor of the Exchequer

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

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

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

Liberal Democrat
Charlie Maynard (LD - Witney)
Liberal Democrat Spokesperson (Chief Secretary to the Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)
Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)
Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
James Murray (LAB - Ealing North)
Chief Secretary to the Treasury
Lord Stockwood (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
Dan Tomlinson (Lab - Chipping Barnet)
Exchequer Secretary (HM Treasury)
Lucy Rigby (Lab - Northampton North)
Economic Secretary (HM Treasury)
There are no upcoming events identified
Debates
Thursday 26th March 2026
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
Monday 13th April 2026
Ceramics: Staffordshire
To ask the Chancellor of the Exchequer, what recent steps she has taken to support the ceramics industry in a) …
Secondary Legislation
Thursday 26th March 2026
Taxes (Interest Rate) (Amendment) Regulations 2026
These Regulations amend the Taxes (Interest Rate) Regulations 1989/1297 (“1989 Regulations”). The 1989 regulations specify rates of interest for the …
Bills
Wednesday 4th March 2026
Supply and Appropriation (Anticipation and Adjustments) Act 2026
A Bill to Authorise the use of resources for the years ending with 31 March 2025, 31 March 2026 and …
Dept. Publications
Friday 10th April 2026
14:48

Guidance

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
Mar. 10
Oral Questions
Mar. 26
Written Statements
Mar. 19
Westminster Hall
Feb. 12
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

HM Treasury does not have Bills currently before Parliament


Acts of Parliament created in the 2024 Parliament

Introduced: 2nd December 2025

A Bill to make provision in connection with finance.

This Bill received Royal Assent on 18th March 2026 and was enacted into law.

Introduced: 4th March 2026

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.

Introduced: 25th June 2025

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

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

Introduced: 13th November 2024

A Bill to make provision about secondary Class 1 contributions.

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

Introduced: 6th November 2024

A Bill to make provision about finance.

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

Introduced: 25th July 2024

A Bill to amend the Crown Estate Act 1961.

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

Introduced: 5th March 2025

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

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

Introduced: 6th November 2024

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

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

Introduced: 18th July 2024

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

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

Introduced: 24th July 2024

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

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

HM Treasury - Secondary Legislation

These Regulations amend the Taxes (Interest Rate) Regulations 1989/1297 (“1989 Regulations”). The 1989 regulations specify rates of interest for the purposes of the enactments specified in section 178(2) of the Finance Act 1989 (c. 26). The amendments made by these Regulations specify the applicable rates of interest for unpaid and overpaid amounts of multinational top-tax and domestic top-up tax.
This Order modifies section 4A of the Social Security Contributions and Benefits (Northern Ireland) Act 1992 (“SSCB(NI)A”) in consequence of the insertion of Chapter 11 of Part 2 of the Income Tax (Earnings and Pensions) Act 2003 (“ITEPA 2003”) by the Finance Act 2026.
View All HM Treasury Secondary Legislation

Petitions

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

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

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

Trending Petitions
Petition Open
9,854 Signatures
(1,391 in the last 7 days)
Petition Open
268 Signatures
(109 in the last 7 days)
Petition Open
231 Signatures
(51 in the last 7 days)
Petition Open
4,670 Signatures
(48 in the last 7 days)
Petitions with most signatures
Petition Debates Contributed

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

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

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

View All HM Treasury Petitions

Departmental Select Committee

Treasury Committee

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

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

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


11 Members of the Treasury Committee
Meg Hillier Portrait
Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)
Treasury Committee Member since 9th September 2024
Yuan Yang Portrait
Yuan Yang (Labour - Earley and Woodley)
Treasury Committee Member since 21st October 2024
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 21st October 2024
John Glen Portrait
John Glen (Conservative - Salisbury)
Treasury Committee Member since 21st October 2024
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 21st October 2024
Bobby Dean Portrait
Bobby Dean (Liberal Democrat - Carshalton and Wallington)
Treasury Committee Member since 28th October 2024
Chris Coghlan Portrait
Chris Coghlan (Liberal Democrat - Dorking and Horley)
Treasury Committee Member since 28th October 2024
John Grady Portrait
John Grady (Labour - Glasgow East)
Treasury Committee Member since 9th December 2024
Catherine West Portrait
Catherine West (Labour - Hornsey and Friern Barnet)
Treasury Committee Member since 27th October 2025
Luke Murphy Portrait
Luke Murphy (Labour - Basingstoke)
Treasury Committee Member since 27th October 2025
Jim Dickson Portrait
Jim Dickson (Labour - Dartford)
Treasury Committee Member since 27th October 2025
Treasury Committee: Upcoming Events
Treasury Committee - Private Meeting
13 Apr 2026, 1:30 p.m.
View calendar - Save to Calendar
Treasury Committee - Oral evidence
Appointment of Katharine Braddick as Deputy Governor for Prudential Regulation at the Bank of England and Chief Executive of the Prudential Regulation Authority
15 Apr 2026, 2 p.m.
View calendar - Save to Calendar
Treasury Committee: Previous Inquiries
The Financial Conduct Authority’s Regulation of London Capital & Finance plc Budget 2021 Work of National Savings and Investments Lessons from Greensill Capital Appointment of Carolyn Wilkins to the Financial Policy Committee Appointment of Tanya Castell to the Prudential Regulatory Committee The work of the Prudential Regulation Authority Reappointment of Jill May and Julia Black to the Prudential Regulation Committee Committee on COP26: climate change and finance Spring Budget 2020 Appointment of Sarah Breeden to the Financial Policy Committee Appointment of Catherine Mann to the Monetary Policy Committee Reappointment of Jonathan Haskel to the Monetary Policy Committee Bank of England July Financial Stability Report and August Monetary Policy Report Economic Crime Regional Imbalances in the UK economy The Work of the Debt Management Office Appointment of Richard Hughes as Chair of the Office for Budget Responsibility Reappointment of Professor Silvana Tenreyro to the Monetary Policy Committee Reappointment of Andy Haldane to the Monetary Policy Committee Appointment of Jonathan Hall to the Financial Policy Committee Appointment of Nikhil Rathi as Chief Executive of the Financial Conduct Authority Maxwellisation inquiry The work of National Savings and Investments inquiry Retail Banking Market Review inquiry HMRC Executive Chair and Chief Executive Financial stability one-off hearing Appointment of the CEO of Financial Conduct Authority Bank of England Financial Stability Report Hearings 2016-17 UK's future economic relationship with the EU inquiry Appointment of Deputy Governor for Prudential Regulation EU Insurance Regulation inquiry HM Treasury: Report and Accounts 2015 – 2016 Appointment of Michael Saunders to the Monetary Policy Committee Appointment of Anil Kashyap to the Financial Policy Committee Tax credits, fraud and error inquiry The work of the Chancellor of the Exchequer inquiry Bank of England Inflation Report Hearing August 2016 Prudential Regulation Authority inquiry Sir Charles Bean appointment to Budget Responsibility Committee UK tax policy and the tax base inquiry Government Internal Audit Agency inquiry HM Treasury Annual Report and Accounts 2014-15 inquiry Valuation Office Agency inquiry Independent review of report into failure of HBOS inquiry Review of the Office for National Statistics inquiry Appointment of Angela Knight as Chair of the Office for Tax Simplification Appointment of Tim Parkes as Chair of Regulatory Decisions Committee Budget 2016 inquiry Financial Policy Committee re-appointment hearings Bank of England Inflation Report Hearing May 2016 Work of the Court of the Bank of England inquiry Bank of England Inflation Report Hearing February 2017 Appointment of the Deputy Governor for Markets and Banking Budget 2017 inquiry Restoration and Renewal of the Palace of Westminster inquiry Capital inquiry Work of the Payment Systems Regulator inquiry Effectiveness and impact of post-2008 UK monetary policy Access to basic retail financial services inquiry Financial Conduct Authority inquiry Bank of England Inflation Report Hearing November 2016 UK Financial Investments annual reports and accounts 2015-16 Housing Policy inquiry Autumn Statement 2016 Household finances: income, saving and debt inquiry Bank of England Inflation Reports inquiry Budget Autumn 2017 inquiry Student Loans inquiry The UK's economic relationship with the European Union inquiry The work of the Bank of England inquiry The work of the Financial Conduct Authority The work of the National Infrastructure Commission inquiry Women in finance inquiry Appointment of Professor Silvana Tenreyro to the Monetary Policy Committee Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking, Bank of England The work of the Chancellor of the Exchequer EU Insurance Regulation inquiry HMRC Annual Report and Accounts inquiry Re-appointment of Professor Anil Kashyap to the Financial Policy Committee inquiry Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England inquiry The effectiveness of gender pay gap reporting inquiry Decarbonisation of the UK Economy and Green Finance inquiry Regional Imbalances in the UK Economy inquiry Work of the Financial Services Compensation Scheme inquiry Spending Round 2019 inquiry Access to Cash Review inquiry Appointment of Kathryn Cearns as Chair of the Office of Tax Simplification inquiry The future of the UK’s financial services inquiry The impact of Business Rates on business inquiry Spring Statement 2019 inquiry The work of the Adjudicator’s Office inquiry The work of the Debt Management Office inquiry Independent Review of the Co-Operative Bank inquiry Work of the Court of the Bank of England inquiry Tax enquiries and resolution of tax disputes inquiry IT failures in the financial services sector inquiry Work of the Banking Standards Board inquiry Independent Review of the Financial Ombudsman Service Appointment of Bradley Fried as Chair of Court, Bank of England Appointment of Professor Jonathan Haskel to the Monetary Policy Committee Andy King, Nominated Member of the Budget Responsibility Committee Re-appointment of Dr Gertjan Vlieghe to the Monetary Policy Committee Maxwellisation inquiry Work of the Valuation Office Agency inquiry Appointment of Julia Black as external member of the Prudential Regulation Committee Appointment of Jill May as an external member of the Prudential Regulation Committee Consumers’ Access to Financial Services inquiry The re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at the Bank of England inquiry Budget 2018 inquiry The Work of the Treasury inquiry Service Disruption at TSB inquiry Economic Crime inquiry Re-appointment of Alex Brazier to the Financial Policy Committee Re-appointment of Donald Kohn to the Financial Policy Committee Re-appointment of Martin Taylor to the Financial Policy Committee VAT inquiry Spring Statement 2018 Digital Currencies inquiry Appointment of Charles Randell as Chair of the Financial Conduct Authority SME Finance inquiry Appointment of Elisabeth Stheeman to the Bank of England Financial Policy Committee The work of the Prudential Regulation Authority inquiry Bank of England Financial Stability Reports RBS's Global Restructuring Group and its treatment of SMEs inquiry Childcare inquiry The work of the Payment Systems Regulator inquiry HM Treasury Annual Report and Accounts inquiry Women in the City Crown Estate Cheques, the end of? Mortgage Arrears and Access to Mortgage Finance: Follow up Financial Institutions - Too Important To Fail? Budget 2010 Credit Searches European Macro and Micro Prudential Financial Regulation Presbyterian Mutual Society Pre-Budget Report 2009 Budget 2009 Pre-Budget Report 2008 Budget 2008 Pre-Budget Report 2007 Mortgage Arrears and Access to Mortgage Finance Evaluating the Efficiency Programme Administration and expenditure of the Chancellor’s Departments, 2008-09 Banking Crisis Banking Crisis: International Dimensions Banking Reform Run on the Rock Budget June 2010 Competition and choice in the banking sector Office for Budget Responsibility Financial Regulation Spending Review 2010 Administration and effectiveness of HMRC The principles of tax policy Retail Distribution Review European financial regulation Autumn forecast 2010 Accountability of the Bank of England Private Finance Initiative Budget 2011 Future of Cheques Independent Commission on Banking: Interim Report Closing the tax gap: HMRC's record at ensuring tax compliance Budget Measures and Low-income Households Financial Conduct Authority Inherited Estates Counting the population Administration and expenditure of the Chancellor's Departments, 2006-07 Comprehensive Spending Review 2007 Administration and expenditure of the Chancellor's Departments, 2007-08 Independent Commission on Banking: Final Report Global Imbalances Autumn Statement 2011 Budget 2012 Corporate governance and remuneration Money Advice Service LIBOR FSA's report into HBOS Spending Round 2013 Project Verde Macroprudential tools Disposal of Government Stakes in RBS and Lloyds Credit Rating Agencies Autumn Statement 2012 Appointment of Dr Mark Carney as Governor of the Bank of England Budget 2013 Quantitative easing Private Finance 2 Autumn Statement 2013 Bank of England Financial Stability Report hearings: Session 2014-15 Appointment hearings, Session 2013-14 Bank of England Inflation Report Hearings: Session 2013-14 EU Financial Regulation Monetary Policy: Forward Guidance UK Financial Investments Ltd 2013 The economics of HS2 SME Lending Financial Conduct Authority hearings The costing of pre-election policy proposals Performance of the Royal Mint Budget 2014 The economics of currency unions OBR: July 2013 Fiscal Sustainability Report Banks' Lending Practices: Treatment of Businesses in Distress RBS Independent Lending Review Prudential Regulation Authority Hearings: Session 2014-15 HM Treasury Annual Report and Accounts 2013-14 Treatment of Financial Services Consumers Bank of England Inflation Report Hearings: Session 2014-15 HMRC Business Plan 2014-16 Manipulation of Benchmarks Appointment hearings, Session 2014-15 Co-op Governance Review Cost effectiveness of economic and financial sanctions Bank of England Financial Stability Report Hearings 2015-16 Bank of England Inflation Report Hearings 2015-16 Summer Budget 2015 inquiry UK Financial Investments Ltd Annual Report and Accounts 14-15 Review of scope and performance of Office for Budget Responsibility Bank of England Bill inquiry Chair of Office for Budget Responsibility reappointment hearing HMRC Annual Report and Accounts 2014-15 inquiry Prudential Regulation Authority inquiry Comprehensive Spending Review and Autumn Statement 2015 inquiry Review of CMA work on Retail Banking Market one-off session Financial Conduct Authority Practitioner Panels one-off session Appointment of Gertjan Vlieghe to the Monetary Policy Committee hearing Reappointment of Ian McCafferty to the Monetary Policy Committee hearing Financial Conduct Authority Economic and financial costs and benefits of UK's EU membership Crown Estate Annual Report and Accounts 2013/14 Bank of England Foreign Exchange Market Investigation HM Revenue and Customs and HSBC Budget 2015 The UK's EU Budget Contributions Press briefing of information in the Financial Conduct Authority’s 2014/15 Business Plan Fair and Effective Markets Review The Payment Systems Regulator Implementing the recommendations on the Parliamentary Commission on Banking Standards Autumn Statement 2014 Work of the Tax Assurance Commissioner UK Financial Investments Ltd Proposals for further Fiscal and Economic Devolution to Scotland Debt Management Office Annual Report and Accounts 2013-14 UK Customs Policy Infrastructure The cost of living The venture capital market The crypto-asset industry Tax Reliefs September 2022 Fiscal Event The Financial Services and Markets Bill The mortgage market The Edinburgh Reforms Quantitative tightening Retail Banks Appointment of Andrew Bailey as Governor of the Bank of England Work of Government Actuary’s Department Work of the Financial Ombudsman Service Work of HM Treasury Future of Financial Services Spending Review 2020 HMRC Annual Report and Accounts Bank of England Financial Stability Reports The appointment of John Taylor to the Prudential Regulation Committee UK’s economic and trading relationship with the EU The appointment of Antony Jenkins to the Prudential Regulation Committee Access to Cash Review Bank of England Financial Stability Reports Bank of England Inflation Reports Consumers’ Access to Financial Services Decarbonisation of the UK Economy and Green Finance Economic Crime The effectiveness of gender pay gap reporting HMRC Annual Report and Accounts inquiry Tax enquiries and resolution of tax disputes IT failures in the financial services sector Appointment of Dame Colette Bowe to the Financial Policy Committee Re-appointment of Professor Anil Kashyap to the Financial Policy Committee Work of the Financial Services Compensation Scheme Spending Round 2019 The impact of Business Rates on business Work of the Court of the Bank of England Independent Review of the Co-Operative Bank Regional Imbalances in the UK Economy Re-appointment of Michael Saunders to the Monetary Policy Committee Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England Maxwellisation RBS's Global Restructuring Group and its treatment of SMEs SME Finance Spring Statement 2019 The future of the UK’s financial services HM Treasury Annual Report and Accounts Service Disruption at TSB The UK's economic relationship with the European Union VAT The work of the Bank of England The work of the Chancellor of the Exchequer The work of the Financial Conduct Authority The Work of the Treasury The work of the Prudential Regulation Authority

50 most recent Written Questions

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

25th Mar 2026
To ask the Chancellor of the Exchequer, if she will list all changes to the UK tax system which will take effect from 6 April 2026, including changes to rates, thresholds, allowances and reliefs.

A full list of all tax measures introduced at recent Budgets can be found in the Overview of Tax Legislation and Rates on the gov.uk website, including the tax rates and allowances in effect from 6 April 2026.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Mar 2026
To ask the Chancellor of the Exchequer, what estimate she has made of the number of outstanding cases of people liable to the loan charge that will be settled as a result of the McCann Review.

I refer the Hon. Member to the answers I gave on 9 February 2026 to UIN 109841, 109843, 109842, and the answer I gave on 27 February to UIN 114103.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Mar 2026
To ask the Chancellor of the Exchequer, whether she plans to offer the same settlement terms that will be provided in the settlement opportunity resulting from the implementation of the McCann Review to those that have already settled with HMRC.

I refer the Hon. Member to the answers I gave on 9 February 2026 to UIN 109841, 109843, 109842, and the answer I gave on 27 February to UIN 114103.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the value-for-money to the taxpayer of the Loan Charge.

I refer the Hon. Member to the answers I gave on 9 February 2026 to UIN 109841, 109843, 109842, and the answer I gave on 27 February to UIN 114103.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the success of the Loan Charge and HMRC’s approach to dealing with so-called disguised remuneration schemes.

I refer the Hon. Member to the answers I gave on 9 February 2026 to UIN 109841, 109843, 109842, and the answer I gave on 27 February to UIN 114103.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
26th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of reducing VAT on the repair, maintenance and retrofit of existing buildings on (a) the viability of bringing older high-street and town-centre buildings back into use, (b) the reduction of embodied carbon in the construction sector and (c) the preservation of heritage of long-standing community assets.

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services, this includes most construction work. Exceptions to the standard rate have always been limited and balanced against affordability considerations.

The Government keeps all taxes under review and makes decisions at fiscal events in the context of the overall public finances.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
26th Mar 2026
To ask the Chancellor of the Exchequer, if the Government reduce VAT on public electric vehicle charging to match the domestic rate.

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services.

The supply of energy for domestic use attracts the reduced rate of VAT (5 per cent). Whilst this relief was not designed or introduced for charging EVs at home, it applies for all uses of domestic energy, as it is not easy for energy companies to distinguish between electricity used to charge an EV and electricity used for general domestic purposes. Public EV charging, on the other hand, is subject to the standard rate of VAT (twenty per cent). This matches the VAT treatment of petrol and diesel, as well as all non-domestic electricity.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Mar 2026
To ask the Chancellor of the Exchequer, why the statistics publication entitled Minor tax expenditures and structural reliefs on GOV.UK has not been updated since December 2024.

Estimates of the exchequer cost of Minor tax expenditures and structural reliefs were updated in January 2026 and are now contained in a new Tax Relief Statistics publication which combines the previous Minor tax expenditures and structural reliefs publication with the related Non-structural tax relief statistics publication, and can be found here:

https://www.gov.uk/government/statistics/tax-reliefs

The change was made following feedback from stakeholders and aims to improve clarity and accessibility.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
26th Mar 2026
To ask the Chancellor of the Exchequer, for what reason HMRC does not collect data on the number of wine producers claiming Small Producers Relief; and whether the Department plans to begin collecting such data to inform the evaluation of the 2023 alcohol duty reforms.

HM Revenue & Customs (HMRC) holds data on the volume of products on which Small Producer Relief (SPR) is claimed, however it is not possible to accurately attribute this amount to a specific number of producers.

HMRC does not approve producers for SPR as both eligibility and rates can vary annually, depending on production levels. Instead, producers self- assess their eligibility and calculate the correct rate, meaning there is no central record of SPR claimants.

In some cases, the duty is paid by someone other than the producer. For example, goods may move in duty suspension from the producer to an excise warehouse, which pays the duty. In other cases large producers may conduct processes, such as bottling, on behalf of several smaller producers and account for the duty on behalf of their customers when the goods are released.

These arrangements reduce burdens on small producers while accommodating common commercial practices. Although HMRC cannot determine a definitive number of producers claiming SPR, it assesses that very few wine producers will have claimed the relief due to the 8.5% ABV eligibility limit.

HMRC will evaluate the 2023 duty reforms using several data sources, including SPR clearance volumes. For the reasons stated there are no plans to collect additional data on the number of producers claiming SPR.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Mar 2026
To ask the Chancellor of the Exchequer, what fiscal steps her Department is taking to help encourage charitable donations.

To encourage charitable donations, the Government allows charities and their donors to claim tax reliefs across several different tax heads and exemptions, including VAT, Inheritance Tax, Stamp Duty, and Business Rates. Charities can also claim Gift Aid of 25p for every £1 of eligible donations made by UK taxpayers.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
25th Mar 2026
To ask the Chancellor of the Exchequer, what assessment has been made of the potential benefits derived to Northern Ireland people and businesses from the Belfast Office operational since December 2024.

HM Treasury has not made a standalone assessment of the benefits of the HMRC Belfast office, but having an operational presence in Belfast supports access to HMRC services, engagement with local businesses and stakeholders, and the effective administration of the tax system in Northern Ireland.

James Murray
Chief Secretary to the Treasury
26th Mar 2026
To ask the Chancellor of the Exchequer, when she plans to publish the results of the open book assessment of Northern Ireland devolved departments.

The open-book exercise is intended to support the Northern Ireland Executive, so any decision to publish the report would be a question for the Northern Ireland Executive.

James Murray
Chief Secretary to the Treasury
26th Mar 2026
To ask the Chancellor of the Exchequer, what recent steps she has taken to support the ceramics industry in a) Newcastle-under-Lyme and b) Staffordshire.

The government engages closely with the ceramics sector.

As set out in the Industrial Strategy, we are increasing support for our most energy-intensive industries eligible for the British Industry Supercharger package, including some of those in the ceramics sector, with an uplift of the Network Charging Compensation scheme from 60% to 90%. This will provide additional price relief from April 2026 to eligible businesses.

James Murray
Chief Secretary to the Treasury
25th Mar 2026
To ask His Majesty's Government what assessment they have made of whether building societies exercise their powers to terminate membership of their members fairly and proportionately.

The Government is keen to ensure that regulation is proportionate and gives building societies the flexibility to choose what works best for them within the mutual model. It would be inappropriate for the Government to comment on specific governance decisions taken by a building society within the legal framework.

A building society's membership policy is set out in the society's rulebook. If an individual feels procedure has not been followed, they can raise a formal complaint with the building society directly.

Where termination of membership also results in loss of access to a payment service, further protections may also apply. In June 2025, the Government legislated to require payment service providers to give customers at least 90 days’ notice before closing their account or terminating a payment service and provide a sufficiently detailed and specific explanation so the customer can understand why it is being terminated. These rules come into force for relevant new contracts from April 2026 and will ensure more transparent and predictable access to payment services, giving customers the time and information they need to challenge decisions or find alternative arrangements.

Lord Livermore
Financial Secretary (HM Treasury)
25th Mar 2026
To ask His Majesty's Government what plans they have to revise regulation of shadow banks following the collapse of Market Financial Solutions.

The Treasury continues to work closely with the Bank of England and the regulators to monitor and respond to developments in the non-bank financial sector. The Treasury keeps the regulatory framework under review and is closely engaged in international work to understand and mitigate financial stability risks in respect of non-banks, including at the Financial Stability Board and G7.

Lord Livermore
Financial Secretary (HM Treasury)
25th Mar 2026
To ask His Majesty's Government what amounts associated with the Bank of England Asset Purchase Facility are included in the cumulative government debt; and whether they plan to exclude them from the total.

Information on the contribution to debt from the Bank of England and Asset Purchase Facility are routinely published in the monthly Public Sector Finances statistical release. The latest release, published by the Office for National Statistics on 20th March, showed that the impact on government debt from Asset Purchase Facility gilt holdings was £85.1 billion at the end of February 2026.

The Government's fiscal rules target net financial debt (Public sector net financial liabilities), to prioritise investment to drive long-term growth while getting debt falling as a share of the economy. Net financial debt includes the Bank of England’s balance sheet activities, including the Asset Purchase Facility.

Lord Livermore
Financial Secretary (HM Treasury)
25th Mar 2026
To ask His Majesty's Government what amount of interest has been paid to commercial banks on central bank reserves in each of the last ten years; and whether they have considered ending such payments.

Data on the interest paid on central bank reserves backed by bonds held in the Asset Purchase Facility is made publicly available by the Office for National Statistics in its monthly Public Sector Finances publication.

Time period

Interest payable
(£ million)

Dataset identifier code

MDD7

2015

1,872

2016

1,515

2017

1,501

2018

3,434

2019

3,374

2020

1,078

2021

941

2022

13,394

2023

38,233

2024

36,335

2025

25,910

These data refer to reserves backed only by bonds held in the Asset Purchase Facility. While data on total interest paid is not available, the Bank of England does publish the aggregate level of outstanding reserves and the Bank Rate.

Paying interest on reserves is an important part of the transmission of monetary policy to the real economy and there are no plans to change the way reserves are remunerated at the Bank of England.

Lord Livermore
Financial Secretary (HM Treasury)
25th Mar 2026
To ask His Majesty's Government what was the value and volume of steel imported into the UK in each of the last three calendar years, broken down by country of origin; and what percentage of total steel imports each country accounted for in each year.

The data on imports of steel is given in the attached tables in Annex A (volume) and Annex B (value).


HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK. HMRC releases this information monthly, as an Accredited National Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com ).

Lord Livermore
Financial Secretary (HM Treasury)
25th Mar 2026
To ask His Majesty's Government what volume of ferrous scrap was imported into the UK in each of the last three calendar years, broken down by country of origin and by grade or category of scrap.

The data on imports of ferrous scrap is given in table 1. HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK. HMRC releases this information monthly, as an Accredited National Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com ).

Table 1: UK import volumes (kg) of Ferrous Scrap

Country

2023

2024

2025

Not Declared

100,666,973

119,323,136

110,711,763

Ireland

58,409,303

62,163,906

54,568,750

Belgium

10,620,084

11,853,794

385,988

Germany

6,447,914

11,121,900

392,921

Netherlands

3,600,562

5,603,047

1,460,658

UK

1,783,716

4,873,692

705,830

United States

451

137,270

2,211,158

France

128,252

375,242

107,888

Canada

2,880

372,743

Costa Rica

106,506

25,000

Iceland

110,610

9,610

6,490

Panama

44,000

40,000

20,000

Spain

2,003

99,660

Italy

12,133

41,211

41,752

Malta

24,100

41,760

Norway

51,060

Czechia

14,272

11,114

25,097

Israel

48,830

Lithuania

48,711

Estonia

29,241

Latvia

24,000

Congo (Dem. Rep)

15,000

Switzerland

7,120

5,530

331

China

158

2,041

4,380

Slovakia

52

2,971

Sweden

2,674

Falkland Islands

2,540

India

869

582

209

Jamaica

637

Oman

228

Comoros

180

Singapore

54

Somalia

15

Taiwan

3

Hungary

1

Grand Total

181,997,675

215,729,834

171,225,047

Source: HMRC Overseas Trade Statistics / UK TradeInfo.com

Notes

• Data for 2023-2025 are for calendar years

• HS8 72044110, 72044191, 72043000, 72044199, 72044910, 72044930, 72044990, 72045000

• Import trade is on a country of origin basis

• 2025 is an open year and is therefore provisional and is subject to change

• Country of origin is not required on trade declared through the Intrastat system

Lord Livermore
Financial Secretary (HM Treasury)
25th Mar 2026
To ask His Majesty's Government what volume of iron ore imports into the UK there was in each of the last three calendar years, broken down by (1) fines, (2) pellets, (3) lump ore and (4) other iron-bearing feedstocks, and by country of origin.

The data on imports of ferrous scrap is given in table 1.

HM Revenue & Customs (HMRC) is responsible for the collection and publication of data on imports and exports of goods to and from the UK. HMRC releases this information monthly, as an Accredited National Statistic called the Overseas Trade in Goods Statistics (OTS), which is available via their dedicated website (www.uktradeinfo.com ).

Table 1: UK import volumes (kg) of Iron ore per year, from 2023 to 2025

Country

2023

2024

2025

Sweden

944,860,000

650,899,243

909,881,920

Brazil

1,293,175,122

524,445,534

598,107,272

Canada

1,290,465,000

496,900,000

565,870,677

Norway

1,187,212,714

368,949,807

27,807,184

United States

596,604,115

492,035,282

215,978,363

South Africa

745,243,000

16,017,200

188,157,000

Mauritania

315,269,000

248,684,000

356,403,000

Liberia

379,172,000

243,407,200

India

127,150,000

71,500,000

Vatican City

158,257,000

Egypt

92,702,000

46,135,000

Uruguay

47,868,000

82,184,000

Libya

49,597,000

47,248,000

Netherlands

329,102

78,165,633

278,805

Trinidad:Tobago

43,061,000

Australia

35,718,811

Turkey

117,089

258,720

282,240

France

27,193

1,920

Germany

23,086

Spain

3,018

6,178

UK

2,397

3,560

1,550

Chile

450

Sierra Leone

233

Ukraine

203

Italy

95

Ireland

14

China

2

Grand Total

7,263,793,093

3,409,897,402

2,862,776,437

Source: HMRC Overseas Trade Statistics / UK TradeInfo.com

Notes

• Data for 2023-2025 are for calendar years

• HS8 26011100, 260112000, 26012000

• Import trade is on a country of origin basis

• 2025 is an open year and is therefore provisional and is subject to change

• Country of origin is not required on trade declared through the Intrastat system

Lord Livermore
Financial Secretary (HM Treasury)
17th Mar 2026
To ask the Chancellor of the Exchequer, with reference to the Budget Policy Costing 2025, November 2025, page 51, on the High Value Council Tax Surcharge, what proportion of the (a) -£60 million impact in 2025-26, (b) -£120 million impact in 2026-27 and (c) -£155 million impact in 2027-28 is from (i) lower stamp duty, (ii) lower capital gain tax, (iii) lower inheritance tax and (iv) lower Annual Tax on Enveloped Dwellings receipts, in each case and year.

The OBR publishes a breakdown of the Budget 2025 policy costings here:

Policy costings - Office for Budget Responsibility

Dan Tomlinson
Exchequer Secretary (HM Treasury)
24th Mar 2026
To ask His Majesty's Government what steps they are taking to ensure that Financial Ombudsman Service determinations do not impose new regulatory expectations on firms operating investment platforms or providing custody and administration services for Self-Invested Personal Pensions outside the Financial Conduct Authority framework; and what safeguards are in place to ensure that the Financial Ombudsman Service does not apply rules, standards or guidance retrospectively in its determinations.

The Government recently carried out a review of the Financial Ombudsman Service (FOS), and consulted on proposed changes to the statutory framework in which it operates. On 16 March, the Government published a response to its consultation on reforming the FOS, confirming it will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the FCA.

The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the Financial Conduct Authority (FCA) and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this led to the FOS acting as a quasi-regulator.

The Government’s reforms will amend the ‘Fair and Reasonable’ test to require that, where firms have met their obligations under relevant FCA Rules, the FOS will be required to find that a firm has acted fairly and reasonably. They will also make clear that the FOS can only consider rules that were in force at the time of the act or omission giving rise to a complaint. These reforms require primary legislation, which the government will take forward when Parliamentary time allows.

Alongside the Government’s planned legislative changes, the FCA and FOS are currently consulting on changes to the Dispute Resolution (DISP) rules in the FCA’s Handbook, which also proposes changes to address industry concerns about the potential for retrospective interpretation of FCA rules and standards.

All FCA authorised firms are subject to the same core regulatory requirements. The FCA communicates to firms, for example through their “Approach to Supervision” publication, that different business models including investment platforms and SIPP providers create different risk and therefore there are different expectations of the firms. The FCA expects firms to understand these risks and mitigate against them. Where appropriate, the FCA will clarify their expectations of different firms. Firms must also meet additional requirements, either rules or guidance, set out by the FCA depending on the specific regulated activities and permissions a firm undertakes and holds.

Lord Livermore
Financial Secretary (HM Treasury)
24th Mar 2026
To ask His Majesty's Government what steps they are taking to ensure that the respective regulatory responsibilities are clearly defined between investment platforms, independent financial advisers and Self-Invested Personal Pension operators under Financial Conduct Authority rules.

The Government recently carried out a review of the Financial Ombudsman Service (FOS), and consulted on proposed changes to the statutory framework in which it operates. On 16 March, the Government published a response to its consultation on reforming the FOS, confirming it will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the FCA.

The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the Financial Conduct Authority (FCA) and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this led to the FOS acting as a quasi-regulator.

The Government’s reforms will amend the ‘Fair and Reasonable’ test to require that, where firms have met their obligations under relevant FCA Rules, the FOS will be required to find that a firm has acted fairly and reasonably. They will also make clear that the FOS can only consider rules that were in force at the time of the act or omission giving rise to a complaint. These reforms require primary legislation, which the government will take forward when Parliamentary time allows.

Alongside the Government’s planned legislative changes, the FCA and FOS are currently consulting on changes to the Dispute Resolution (DISP) rules in the FCA’s Handbook, which also proposes changes to address industry concerns about the potential for retrospective interpretation of FCA rules and standards.

All FCA authorised firms are subject to the same core regulatory requirements. The FCA communicates to firms, for example through their “Approach to Supervision” publication, that different business models including investment platforms and SIPP providers create different risk and therefore there are different expectations of the firms. The FCA expects firms to understand these risks and mitigate against them. Where appropriate, the FCA will clarify their expectations of different firms. Firms must also meet additional requirements, either rules or guidance, set out by the FCA depending on the specific regulated activities and permissions a firm undertakes and holds.

Lord Livermore
Financial Secretary (HM Treasury)
24th Mar 2026
To ask His Majesty's Government, following the publication of their response to the review of the Financial Ombudsman Service, when they intend to (1) implement these reforms, and (2) introduce the necessary primary legislation.

On Monday 16 March, the Government published a response to its consultation on reforming the Financial Ombudsman Service (FOS), confirming that the government will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the Financial Conduct Authority (FCA).

The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the FCA and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this had led to the FOS acting as a quasi-regulator. The Government’s reforms will ensure that FOS determinations are fully aligned with the regulatory standards set by the FCA.

The Government will bring forward legislation to deliver the reforms when parliamentary time allows. Alongside the Government’s response, the FCA and the FOS published a paper seeking views on a number of changes they can make in advance of legislation, including updates to the fair and reasonable test and initial implementation of the new referral mechanism.

The reforms will improve cooperation between the FOS and the FCA, including through introducing a referral mechanism, which will require the FOS to seek a view from the FCA where the FOS considers there may be ambiguity in what FCA rules require, or where it considers an issue raised may have wider implications across the financial services industry, which the FCA will be required to respond to. The FOS and the FCA have implemented an initial version of this mechanism through their updated Memorandum of Understanding.

The reforms will also require the FCA and the FOS to publish regular thematic reports, which will explain the FOS’s approach to types of complaints that it receives. This will provide greater certainty on the approach used by the FOS to resolve disputes, and which demonstrates how that approach is aligned with the regulatory standards set by the FCA. In their joint paper, the FOS and the FCA set out that they will work with the Government to consider how greater clarity could be provided ahead of any legislative change.

Lord Livermore
Financial Secretary (HM Treasury)
24th Mar 2026
To ask His Majesty's Government what assessment they have made of the Financial Ombudsman Service's ability to set precedents that create new rules and thereby bypass the Financial Conduct Authority and established regulatory processes.

On Monday 16 March, the Government published a response to its consultation on reforming the Financial Ombudsman Service (FOS), confirming that the government will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the Financial Conduct Authority (FCA).

The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the FCA and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this had led to the FOS acting as a quasi-regulator. The Government’s reforms will ensure that FOS determinations are fully aligned with the regulatory standards set by the FCA.

The Government will bring forward legislation to deliver the reforms when parliamentary time allows. Alongside the Government’s response, the FCA and the FOS published a paper seeking views on a number of changes they can make in advance of legislation, including updates to the fair and reasonable test and initial implementation of the new referral mechanism.

The reforms will improve cooperation between the FOS and the FCA, including through introducing a referral mechanism, which will require the FOS to seek a view from the FCA where the FOS considers there may be ambiguity in what FCA rules require, or where it considers an issue raised may have wider implications across the financial services industry, which the FCA will be required to respond to. The FOS and the FCA have implemented an initial version of this mechanism through their updated Memorandum of Understanding.

The reforms will also require the FCA and the FOS to publish regular thematic reports, which will explain the FOS’s approach to types of complaints that it receives. This will provide greater certainty on the approach used by the FOS to resolve disputes, and which demonstrates how that approach is aligned with the regulatory standards set by the FCA. In their joint paper, the FOS and the FCA set out that they will work with the Government to consider how greater clarity could be provided ahead of any legislative change.

Lord Livermore
Financial Secretary (HM Treasury)
24th Mar 2026
To ask His Majesty's Government what steps they are taking to ensure that the Financial Ombudsman Service fully utilises established consultation mechanisms, including the Wider Implications Framework between the Financial Ombudsman Service and the Financial Conduct Authority in cases with potential market-wide impact.

On Monday 16 March, the Government published a response to its consultation on reforming the Financial Ombudsman Service (FOS), confirming that the government will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the Financial Conduct Authority (FCA).

The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the FCA and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this had led to the FOS acting as a quasi-regulator. The Government’s reforms will ensure that FOS determinations are fully aligned with the regulatory standards set by the FCA.

The Government will bring forward legislation to deliver the reforms when parliamentary time allows. Alongside the Government’s response, the FCA and the FOS published a paper seeking views on a number of changes they can make in advance of legislation, including updates to the fair and reasonable test and initial implementation of the new referral mechanism.

The reforms will improve cooperation between the FOS and the FCA, including through introducing a referral mechanism, which will require the FOS to seek a view from the FCA where the FOS considers there may be ambiguity in what FCA rules require, or where it considers an issue raised may have wider implications across the financial services industry, which the FCA will be required to respond to. The FOS and the FCA have implemented an initial version of this mechanism through their updated Memorandum of Understanding.

The reforms will also require the FCA and the FOS to publish regular thematic reports, which will explain the FOS’s approach to types of complaints that it receives. This will provide greater certainty on the approach used by the FOS to resolve disputes, and which demonstrates how that approach is aligned with the regulatory standards set by the FCA. In their joint paper, the FOS and the FCA set out that they will work with the Government to consider how greater clarity could be provided ahead of any legislative change.

Lord Livermore
Financial Secretary (HM Treasury)
24th Mar 2026
To ask His Majesty's Government what plans they have, pending implementation of the review of the Financial Ombudsman Service, to issue interim guidance for cases where Financial Ombudsman Service decisions raise questions about the interpretation of regulatory responsibilities across the financial services sector; or to encourage the Financial Conduct Authority to do so.

On Monday 16 March, the Government published a response to its consultation on reforming the Financial Ombudsman Service (FOS), confirming that the government will legislate to stop the FOS acting as a quasi-regulator and provide greater regulatory coherence with the Financial Conduct Authority (FCA).

The FOS was not intended to create binding precedents or new rules through its determinations, which are made based on all the individual circumstances of the case. The Government’s review concluded that there was not always coherence between the regulatory approach set by the FCA and the approach used by the FOS in determining individual complaints and, in a small but significant minority of cases, this had led to the FOS acting as a quasi-regulator. The Government’s reforms will ensure that FOS determinations are fully aligned with the regulatory standards set by the FCA.

The Government will bring forward legislation to deliver the reforms when parliamentary time allows. Alongside the Government’s response, the FCA and the FOS published a paper seeking views on a number of changes they can make in advance of legislation, including updates to the fair and reasonable test and initial implementation of the new referral mechanism.

The reforms will improve cooperation between the FOS and the FCA, including through introducing a referral mechanism, which will require the FOS to seek a view from the FCA where the FOS considers there may be ambiguity in what FCA rules require, or where it considers an issue raised may have wider implications across the financial services industry, which the FCA will be required to respond to. The FOS and the FCA have implemented an initial version of this mechanism through their updated Memorandum of Understanding.

The reforms will also require the FCA and the FOS to publish regular thematic reports, which will explain the FOS’s approach to types of complaints that it receives. This will provide greater certainty on the approach used by the FOS to resolve disputes, and which demonstrates how that approach is aligned with the regulatory standards set by the FCA. In their joint paper, the FOS and the FCA set out that they will work with the Government to consider how greater clarity could be provided ahead of any legislative change.

Lord Livermore
Financial Secretary (HM Treasury)
20th Mar 2026
To ask His Majesty's Government what data they hold on the number of commercial recording studios liable for non-domestic rates in each of the last ten years; and whether that data shows a rise or decline in the number of such studios up to 2026.

The Valuation Office are working with the sector to ensure that recording studios are categorised as such. They publish an annual stock of properties which can be sorted by their Special Category (SCat) here: Non-domestic rating: stock of properties collection - GOV.UK. Recording studios can be found under SCat code 232. The total number of recording studios in England and Wales for the last ten years are:

2025 - 410

2024 - 410

2023 - 420

2022 - 420

2021 - 410

2020 - 400

2019 - 410

2018 - 400

2017 - 390

2016 - 390

Lord Livermore
Financial Secretary (HM Treasury)
20th Mar 2026
To ask His Majesty's Government what the breakdown is of the uptake of neonatal care leave and pay by (1) mothers, and (2) fathers, since 6 April 2025.

Parents cannot receive more than one statutory payment at the same time, meaning Statutory Neonatal Care Pay (SNCP) is often taken at the end of Statutory Maternity Pay and Statutory Paternity Pay. As mothers can receive up to 39 weeks of maternity pay, and SNCP was introduced from April last year, many eligible mothers will have been in receipt of maternity pay at the point the data was extracted and may not yet have claimed SNCP.

SNCP Claims in Tax Year 2025-26

Gender

Cases

Female

200

Male

1600

Notes:

1) Data collected using HMRC Real Time Information (RTI) and extracted in December 2025. RTI is subject to revision or updates.

2) Cases have been rounded to nearest 100.

3) Figures may not sum to totals due to rounding.

Lord Livermore
Financial Secretary (HM Treasury)
24th Mar 2026
To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 18 March (HL15247), when they expect to reach a conclusion in their review of VAT for public bodies under section 41 of the Value Added Tax Act 1994.

HM Treasury is currently analysing data provided by Section 41 bodies on their irrecoverable VAT and will set out the next steps to the reforms in due course.

Lord Livermore
Financial Secretary (HM Treasury)
24th Mar 2026
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of investment‑market volatility on retirees using income drawdown arrangements; and if she will conduct a review of (a) pension provider fee structures, particularly charging full management fees during periods of negative fund performance and (b) the adequacy of safeguards for retirees who are reliant on drawdown income.

Individuals do face both investment and longevity risk in today’s Defined Contribution pension landscape, That can include investment risk during retirement. The government is acting to help savers manage these risk, including via the introduction of default pensions through the Pension Schemes Bill. This will ensure that savers in workplace defined contribution schemes have a default solution in place for retirement, helping secure a sustainable income in later life. Trustees and providers will need to consider how the solution they put in place help protect individuals from investment and longevity risks.

FCA rules already require drawdown providers to provide annual statements to consumers which contain enough information for them to review their position. This ensures that consumers can make choices regarding their drawdown arrangements on an informed basis.

Torsten Bell
Parliamentary Secretary (HM Treasury)
24th Mar 2026
To ask the Chancellor of the Exchequer, when she intends to publish an answer to Question 113817, tabled on 20 February 2026, on Public Houses: Business Rates.

I refer the Hon Member to the answer given to Question UIN113817 on 1 April 2026.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
24th Mar 2026
To ask the Chancellor of the Exchequer, what steps she is taking to ensure the UK remains internationally competitive in (i) sustainable finance and (ii) transition finance.

The Financial Services Growth and Competitiveness Strategy set out the government’s vision for the UK’s sustainable finance regulatory framework, which prioritises championing the UK’s world leading sustainable finance sector to innovate and adapt to upcoming developments.

The government published the UK Sustainability Reporting Standards for voluntary use on 25 February. These aim to support long-term, sustainable decision-making by the business and investment community by providing high-quality and comparable information about the sustainability-related risks and opportunities that businesses face. These standards are closely aligned with the standards from the International Sustainability Standards Board and will support both companies and investors working across jurisdictional boundaries. The Financial Conduct Authority has also consulted on potential updates to its rules for listed companies.

The UK is also taking decisive action to ensure its financial services sector in supporting the global transition and is well placed to capture the opportunity of transition finance. The government has been working closely with the Transition Finance Council, which the Chancellor co-launched with the City of London Corporation in February 2025. It has also consulted on potential implementation options to take forward transition planning in a way that supports the market’s need for credible and decision-useful information, while encouraging action in line with the UK’s climate commitments and supporting economic growth. The government will publish its response in due course.

Lucy Rigby
Economic Secretary (HM Treasury)
24th Mar 2026
To ask the Chancellor of the Exchequer, what steps she is taking to align the UK’s regulatory framework for (i) digital assets and (ii) stablecoins with key international partners to support global market access for UK firms.

The government is maintaining close engagement with the UK’s international partners on digital asset and stablecoin market access opportunities.

The government is committed to making the UK a leading global destination for digital assets.

Lucy Rigby
Economic Secretary (HM Treasury)
24th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential for greater regulatory interoperability between the UK and Japan to reduce barriers to financial services exports.

The Government recognises the value of deepening relationships with international partners, such as Japan, to support global financial stability, a cohesive regulatory landscape, and growth and investment in the UK.

Financial regulatory dialogues, including the Japan-UK Financial Regulatory Forum (FRF), are important in supporting cross-border trade in financial services and form a core part of the government’s approach to strengthening international partnerships, as set out in the Financial Services Growth and Competitiveness Strategy published in July.

The most recent Japan-UK FRF was on 18 March 2026 in Tokyo, alongside joint sessions with the seventh meeting of the Financial Dialogue. The Forum provided an opportunity for a deep and meaningful exchange across a broad set of economic, fiscal and financial regulatory issues, including alignment on international sustainability reporting standards, digital finance and international banking. Further details of the discussions can be found in the Joint Statement.
Lucy Rigby
Economic Secretary (HM Treasury)
24th Mar 2026
To ask the Chancellor of the Exchequer, whether her Department has paid for followers on social media platforms it uses.

HM Treasury does not pay for followers on any social media platforms.

Lucy Rigby
Economic Secretary (HM Treasury)
20th Feb 2026
To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 January 2026 to Question 102817 on Public Houses: Business Rates, if he will provide a hyperlink to the requested information cross-referenced by each individual billing authority in England.

I refer the Hon Member to the answer given to Question UIN102817 on 13 January 2026 which provides a link to the published data available.
Dan Tomlinson
Exchequer Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, how many pubs with special category code (a) 226 and (b) 227 were on the Rating List (a) in July 2024 and (b) the most recent period for which figures are held, in each local authority area.

The Valuation Office Agency publishes data relating to your request annually, in the NDR stock of properties which can be found here.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
24th Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of property-based business taxation, such as business rates, on business investment and productivity.

The Call for Evidence on business rates and investment closed on 18 February. It asked stakeholders for more detailed evidence on how the business rates system influences investment decisions, with questions on the business rates system’s tax structure, small business rates relief, improvement relief and empty property relief.

The Government is carefully considering representations we’ve received, and a response to the Call for Evidence will be published in due course.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
24th Mar 2026
To ask the Chancellor of the Exchequer, whether she plans to review the long-term structure of business rates in England.

The Call for Evidence on business rates and investment closed on 18 February. It asked stakeholders for more detailed evidence on how the business rates system influences investment decisions, with questions on the business rates system’s tax structure, small business rates relief, improvement relief and empty property relief.

The Government is carefully considering representations we’ve received, and a response to the Call for Evidence will be published in due course.

Dan Tomlinson
Exchequer Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, with reference to her Department's press release entitled Joint statement from Finland, the Netherlands, and the United Kingdom on joint defence financing and procurement, published on 17 March 2026, whether the new finance mechanism will sit within her Department.

The mechanism the Chancellor announced on 17 March will increase the availability of munitions and other critical capabilities when we need them most.

Similar to other international financial institutions, we expect that capital will be paid in based on countries’ GDP share, and that this will leverage many multiples more capital via private sector funding. The precise set-up is now being explored, and HMT and MOD are working together with finance and defence ministries across partner countries.

James Murray
Chief Secretary to the Treasury
23rd Mar 2026
To ask the Chancellor of the Exchequer, with reference to her Department's press release entitled Joint statement from Finland, the Netherlands, and the United Kingdom on joint defence financing and procurement, published on 17 March 2026, what the cost is of creating the new finance mechanism.

The mechanism the Chancellor announced on 17 March will increase the availability of munitions and other critical capabilities when we need them most.

Similar to other international financial institutions, we expect that capital will be paid in based on countries’ GDP share, and that this will leverage many multiples more capital via private sector funding. The precise set-up is now being explored, and HMT and MOD are working together with finance and defence ministries across partner countries.

James Murray
Chief Secretary to the Treasury
23rd Mar 2026
To ask the Chancellor of the Exchequer, with reference to her Department's press release entitled Joint statement from Finland, the Netherlands, and the United Kingdom on joint defence financing and procurement, published on 17 March 2026, whether the new finance mechanism will be used to stockpile munitions.

The mechanism the Chancellor announced on 17 March will increase the availability of munitions and other critical capabilities when we need them most.

Similar to other international financial institutions, we expect that capital will be paid in based on countries’ GDP share, and that this will leverage many multiples more capital via private sector funding. The precise set-up is now being explored, and HMT and MOD are working together with finance and defence ministries across partner countries.

James Murray
Chief Secretary to the Treasury
23rd Mar 2026
To ask the Chancellor of the Exchequer, what recent discussions she has had with the Governor of the Bank of England on the potential impact of climate and nature-related risks on (a) the economy and (b) financial stability; and what steps her Department is taking to coordinate with the Bank of England in response to those risks.

HM Treasury has a comprehensive framework for assessing and managing risks to the economic outlook and to financial stability. This includes systematic monitoring through internal risk monitors, risk governance forums, and collaboration with other government departments such as the Department for Environment, Food & Rural Affairs and the Department for Energy Security and Net Zero in relation to the impacts of climate change and nature related risks.

The Chancellor’s latest remit and recommendations letter to the Financial Policy Committee (FPC) asks the Committee to consider how climate-related risks could affect financial stability over the near and long term, and to continue to assess the materiality of nature-related risks to its primary objective. The remits for the FPC and Prudential Regulation Committee also make clear that they should support the Government’s approach to accelerate the transition to a climate-resilient, nature-positive and net zero economy.

HMT and the Bank of England meet regularly to discuss the financial stability outlook.

Lucy Rigby
Economic Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, whether she is considering additional financial support for people who lost their businesses during the covid-19 pandemic.

The Government recognises the profound impact which the Covid-19 pandemic had on individuals and businesses across the country. While the pandemic may have receded, the challenges for many small businesses still persist. This is why the Government published the Small Business Plan in July 2025, delivering the most comprehensive package of SME support in a generation, including legislating to end late payments, reducing regulatory burdens, supporting exporters, and investing in skills.

James Murray
Chief Secretary to the Treasury
23rd Mar 2026
To ask the Chancellor of the Exchequer, what steps her Department is taking to enable disabled young people to access funds held in Child Trust Funds and Junior ISAs when they turn 18.

Disability refers to a range of conditions, many of which do not prevent holders of Child Trust Funds and JISAs accessing them in the usual way. Where parents and carers need to engage with provisions under the Mental Capacity Act to manage the finances of a child, the Ministry of Justice has provided a guide, available at https://www.gov.uk/government/news/new-how-to-guide-to-help-families-access-trust-funds-of-disabled-young-adults

Lucy Rigby
Economic Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, what steps her Department is taking to simplify the process for families seeking access to Child Trust Funds and Junior ISAs for disabled young people.

Disability refers to a range of conditions, many of which do not prevent holders of Child Trust Funds and JISAs accessing them in the usual way. Where parents and carers need to engage with provisions under the Mental Capacity Act to manage the finances of a child, the Ministry of Justice has provided a guide, available at https://www.gov.uk/government/news/new-how-to-guide-to-help-families-access-trust-funds-of-disabled-young-adults

Lucy Rigby
Economic Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her policies of the costs associated with legal processes required to access Child Trust Funds and Junior ISAs for disabled young people.

Disability refers to a range of conditions, many of which do not prevent holders of Child Trust Funds and JISAs accessing them in the usual way. Where parents and carers need to engage with provisions under the Mental Capacity Act to manage the finances of a child, the Ministry of Justice has provided a guide, available at https://www.gov.uk/government/news/new-how-to-guide-to-help-families-access-trust-funds-of-disabled-young-adults

Lucy Rigby
Economic Secretary (HM Treasury)
23rd Mar 2026
To ask the Chancellor of the Exchequer, who is responsible for the regulation of sports and non-financial spread bets in the UK.

The Financial Conduct Authority (FCA) has clarified that non-financial spread betting products are not financial instruments, and that the FCA’s regulatory framework does not account for gambling activity in relation to events which are not connected to financial markets.

Furthermore, the Gambling Commission does not licence products whose name, branding or marketing contain language associated with financial products, and understands spread bets of all kinds to potentially fall within the FCA’s remit.

The FCA advises that consumers who take positions in sports or other non-financial betting products should not assume they are eligible for financial compensation schemes or other financial regulatory protections.

Lucy Rigby
Economic Secretary (HM Treasury)