Asked by: Ben Obese-Jecty (Conservative - Huntingdon)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of removing the ABV limit of 8.5% from Small Producer Relief on businesses.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Following public consultation, a new strength-based duty structure for alcohol products was introduced in August 2023.
As part of these reforms, Small Producer Relief (SPR) replaced and extended the previous Small Brewers Relief. SPR supports SMEs and new entrants by permitting smaller producers who make 4,500 hectolitres or less of alcohol per year to pay reduced duty rates on all products below 8.5 per cent ABV.
The design of SPR balances the needs of businesses against the Government’s public health objectives. The 8.5% ABV limit aligns with the duty thresholds set within the wider duty system and ensures that the Government does not provide a lower rate of duty on higher strength alcohol products, even if they are produced by small producers.
This issue was considered in detail as part of the Alcohol Duty Review consultation, the response to which is available here:
https://www.gov.uk/government/consultations/the-new-alcohol-duty-system-consultation
HMRC plans to evaluate the new rates and structures three years after the changes took effect on 1 August 2023. This will allow time for HMRC to gather a broad range of data. The Government welcomes evidence on the impact of the changes so far.
Asked by: Alex Burghart (Conservative - Brentwood and Ongar)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether (a) the Department for Business, Innovation and Skills, (b) UK Financial Investments and (c) other Ministers were involved in the disposal of RBS Sempra Commodities to JP Morgan in the 2009-10 financial year.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Public records of HM Treasury ministerial meetings are available from May 2010 onwards. HM Treasury has also conducted a proportionate search of its archives for the relevant period and has found no evidence of correspondence or meetings between Jeffrey Epstein and Treasury ministers, or any Treasury officials, in relation to this sale, or on any other matter.
Asked by: Mary Kelly Foy (Labour - City of Durham)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing a windfall tax on the profits of (a) banks and (b) other financial institutions.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government’s position on the taxation of the banking sector remains as set out in the Corporate Tax Roadmap. The regime is kept under review to ensure that objectives around growth and fiscal responsibility are appropriately balanced.Asked by: Jon Trickett (Labour - Normanton and Hemsworth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has had any discussions with the Bank of England on the Bank of England’s Prudential Regulatory Authority proposal to reduce data reporting for banks.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Chancellor and I meet regularly with the leadership of the Bank of England to discuss a range of topics, including its work to streamline data reporting requirements for banks and other firms regulated by the Prudential Regulation Authority (PRA).
The government has today published an update on the Regulation Action Plan which welcomes actions the PRA has proposed or implemented to reduce some of the requirements on the firms it regulates.
Asked by: Gareth Thomas (Labour (Co-op) - Harrow West)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will provide the Financial Ombudsman Service with additional powers to monitor the use of personal guarantees by financial services companies for lending to small and medium sized businesses.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Financial Ombudsman Service (FOS) was set up to resolve complaints between consumers and small businesses, and their financial services providers. While the Treasury sets the legal framework in which the FOS operates, the rules on how the FOS should handle complaints, including the jurisdiction of the FOS and what complaints it can deal with, are determined by the Financial Conduct Authority (FCA) and set out in the FCA Handbook.
As set out in the government’s small business strategy, which my Honourable Friend contributed so much to, we are committed to working with lenders on the appropriate use of personal guarantees. This includes a mandatory Code of Conduct for accredited lenders that use the British Business Bank’s Growth Guarantee Scheme to ensure the use of personal guarantees under the Scheme is fair and transparent.
Recognising the necessary role that personal guarantees play in business lending, the government will work with UK Finance to build on their existing lender commitments to use personal guarantees responsibly, and with the business finance community as a whole to build businesses’ understanding of how to access the right finance on the right terms to meet their needs and to help businesses better understand the role of personal guarantees.
Asked by: Gavin Williamson (Conservative - Stone, Great Wyrley and Penkridge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what information her Department holds on whether Jeffrey Epstein helped set up meetings between her Department and JP Morgan on the sale of Sempra Commodities.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Public records of HM Treasury ministerial meetings are available from May 2010 onwards. HM Treasury has also conducted a proportionate search of its archives for the relevant period and has found no evidence of correspondence or meetings between Jeffrey Epstein and Treasury ministers, or any Treasury officials, in relation to this sale, or on any other matter.
Asked by: Gavin Williamson (Conservative - Stone, Great Wyrley and Penkridge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department holds correspondence between Jeffrey Epstein and former Ministers in her Department on the sale of Sempra Commodities.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Public records of HM Treasury ministerial meetings are available from May 2010 onwards. HM Treasury has also conducted a proportionate search of its archives for the relevant period and has found no evidence of correspondence or meetings between Jeffrey Epstein and Treasury ministers, or any Treasury officials, in relation to this sale, or on any other matter.
Asked by: Gavin Williamson (Conservative - Stone, Great Wyrley and Penkridge)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what information her Department holds on meetings between Jeffrey Epstein and former Ministers from her Department.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Public records of HM Treasury ministerial meetings are available from May 2010 onwards. HM Treasury has also conducted a proportionate search of its archives for the relevant period and has found no evidence of correspondence or meetings between Jeffrey Epstein and Treasury ministers, or any Treasury officials, in relation to this sale, or on any other matter.
Asked by: Lewis Cocking (Conservative - Broxbourne)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to page 20 of the Valuation Office Agency's document entitled Annual Report and Accounts 2024-25, published on 17 July 2025, if she will set out the changes to the methodology for valuing (a) petrol filling stations and (b) public houses in the 2026 business rates revaluation.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
There has been no change to the valuation methodology for pubs or petrol filling stations for the 2026 business rates revaluation.
Our approach to valuing pubs has been established in collaboration with industry experts from the British Beer & Pub Association, UK Hospitality, British Institute of Innkeeping and the Federation of Licensed Victuallers Associations. Our approach to valuing petrol stations has been established in collaboration with industry experts, including the Petrol Retailers Association (PRA) and Fuels Industry UK.
The Rating Manual guidance will be updated on 1st April 2026 when the 2026 list takes effect.
Asked by: Helen Whately (Conservative - Faversham and Mid Kent)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will publish the methodology and assumptions behind HMRC’s 2024 forecast that Motability’s VAT reliefs will have cost £1.21 billion in 2024-25.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HMRC publishes estimates of the costs of tax reliefs in its annual Non-structural tax relief statistics publication.
The last publication on 5 December 2024 showed an estimate and forecast for the financial years 2023-24 and 2024-25 of £1,210m for the relief “Vehicles and other supplies to disabled people (vehicles only)”. This includes the cost of VAT reliefs for supplies of vehicles to disabled people, including but not limited to Motability.