Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what mechanisms she will use to monitor the implementation of agreements reached on innovative biodiversity financing with China.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Damian Hinds (Conservative - East Hampshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 27 January 2026 to Question 102744 on Hospitality Industry and Retail Trade: Business Rates, what estimate she has made for the total business rates liability for the current set of properties in category 159 (Local Authority Schools) in (a) 2025/6 (b) 2026/7, and (c) 2027/8.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Valuation Office Agency is responsible for assessing non-domestic properties and determining their rateable value (RV). Local authorities are responsible for calculating business rates bills using the RV, the multiplier set by parliament, and any appropriate reliefs.
The government has published guidance for estimating a property’s business rates for 2026-27: Estimate your business rates - GOV.UK.
Asked by: Neil Duncan-Jordan (Labour - Poole)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to end the sale of written-off consumer debts to third-party debt purchasers.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government expects that consumers are treated fairly by firms purchasing and collecting debt, and recognises the importance of responsible debt recovery practices.
Firms that purchase or collect consumer credit debts must be authorised by the Financial Conduct Authority (FCA) and comply with its rules, including requirements to treat customers fairly and to offer appropriate forbearance options to customers in financial difficulty. The FCA has a broad range of supervisory and enforcement powers to address misconduct.
The Government remains committed to supporting individuals in financial difficulty and keeps the regulatory framework under review.
Asked by: Mohammad Yasin (Labour - Bedford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of the proposed loan charge settlement scheme cut off date of 1 June 2021 for excluding taxpayers who have entered into contract settlements with HMRC before that date; and what steps she has taken to help ensure that taxpayers who settled earlier are not disadvantaged compared with those who settle under the new scheme.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government commissioned an independent review of the loan charge to bring the matter to a close for those affected, ensure fairness for all taxpayers and ensure that appropriate support is in place for those subject to the loan charge.
The purpose of the review was to bring the matter to a close for people who have not settled and paid their loan charge liabilities. Although the loan charge officially came into force from 6 April 2019, the deadline for settling to avoid being liable to the loan charge was extended because of the Morse Review. The settlement opportunity applies after 1 June 2021 because it is from that date onwards that loan charge settlements were agreed.
The review identified affordability as a key barrier preventing those individuals from settling and made recommendations to remove this barrier. The Government accepted all but one of the review’s recommendations and will legislate to give HMRC the power to administer a new settlement scheme.
The Government has no plans to apply the recommendations of the review beyond those individuals and employers with outstanding liabilities that were the focus of the review.
Asked by: Roz Savage (Liberal Democrat - South Cotswolds)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of introducing additional business rates relief for community pubs that operate as the sole hospitality venue in rural villages.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government already provides a series of business rate reliefs that eligible pubs in rural villages may benefit from. In addition to the support announced at Budget, the Government recently announced a 1-year 15% relief for all pubs from April 2026. This will mean around three quarters of pubs will see their bills either falling or remaining the same next year. For the following two years, their bills will then be frozen in real terms.
Pubs in rural areas may also benefit from either Rural Rate Relief or Small Business Rate Relief. Rural Rate Relief aims to ensure that key amenities are available and community assets are protected in rural areas. It provides 100% rate relief for properties that are based in eligible rural areas with populations below 3,000. Properties that are eligible for Small Business Rate Relief, which is available to businesses with a single property below a Rateable Value of £12,000, will receive 100 per cent relief.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to help ensure regulatory co-operation with China does not impact on UK standards in financial supervision.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The agreements reached at the first UK‑China Financial Working Group in Beijing will strengthen cooperation with China in ways that support the UK’s position as an open, competitive and well‑regulated international financial centre, supporting jobs and growth in the UK.
As set out in HM Treasury’s press release and the joint readout of the first UK-China Financial Working Group meeting (FWG), the FWG provides a new formal mechanism for structured, substantive and technical dialogue between UK and Chinese financial authorities on issues including financial stability and resilience, capital markets, market development and sustainable finance.
Specific outcomes include the designation of Bank of China’s London Branch as the UK’s second renminbi (RMB) clearing bank, which will broaden the range of services available to UK businesses trading with China and strengthen London’s role as a leading international financial centre. Technical discussions were also held on long-term initiatives to support the UK’s capital markets, as well as green finance and asset management sectors. Alongside the FWG and the Prime Minister’s visit, the UK and China also agreed to pursue new cooperation on innovative financing, such as RMB-denominated sovereign biodiversity bond issuances, cementing the City's role as the global hub for green finance.
Asked by: Rupert Lowe (Independent - Great Yarmouth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many nights were spent in hotels by Departmental staff in financial year 2024-25 by the star rating of the hotel.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The information requested is not held by hotel star rating. HM Treasury does not centrally record hotel star ratings. All hotel bookings must represent value for money and comply with Civil Service and departmental travel and subsistence policies.
Asked by: Tom Morrison (Liberal Democrat - Cheadle)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure transparency in the work of the VOA.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Valuation Office Agency publishes valuation information for transparency while ensuring the protection of taxpayer confidentiality in line with its duty under the Commissioners for Revenue and Customs Act 2005. The VOA published draft valuations from the 2026 Revaluation of Business Rates alongside Autumn Budget, so ratepayers can see the Rateable Values on which their bills will be based from 1 April 2026. To increase transparency, VOA also provided customers with information on comparable properties to help them understand how their rateable value has been determined.
Asked by: Ashley Fox (Conservative - Bridgwater)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent progress she has made on establishing the future entity for open banking.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government committed has committed to bring forward a statutory instrument this year to support the delivery of a long-term regulatory framework for Open Banking, ensuring continued growth and innovation in the sector.
The Future Entity will be an important part of this framework and act as the standards-setting body for UK open banking. The FCA has commissioned a consultancy to assess proposals from organisations proposing to lead the establishment a body that is capable of becoming the Future Entity. The process will finish in April.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to her Department’s press release entitled Act now: 864,000 sole traders and landlords face new tax rules in two months, published on 5 February 2026, what assessment she has made of the potential impact of the requirement to maintain digital records and submit quarterly tax updates under Making Tax Digital for Income Tax on sole traders and landlords.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The government is undertaking a range of activities to ensure those needing to use Making Tax Digital (MTD) for Income Tax from April 2026 are ready and able to do so successfully.
This includes targeted media campaigns, awareness letters, developing guidance, and working with the software industry to ensure a broad range of MTD‑compatible products is available, to suit different needs and budgets. Free options will support those with the simplest affairs.
MTD will help businesses and landlords keep on top of their tax affairs. It places small businesses on a more digital footing, with digital tools helping to reduce errors and making annual tax returns easier.
HMRC’s latest published assessment of the potential impact of MTD for Income Tax across different taxpayer groups is available at: