Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential implications for her policies of changes in Montenegro's money laundering legislation.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government is committed to protecting the UK’s financial system and identifying risks to our system. The National Risk Assessment for money laundering and terrorist financing was published in July 2025 and assessed international risks the UK faces, including risks linked to the Western Balkan region.
The National Risk Assessment provides up-to-date risk information to enable the UK public and private sector to respond to evolving threats. The Government intends to develop a new public-private strategy focused on anti-money laundering and asset recovery in the coming months to respond to the risks identified.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the answer of 21 January 2026 to Question 105914 on Cryptocurrencies, whether the Tether cryptocurrency is audited by any UK body.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
HM Treasury is not privy to any information regarding Tether’s auditing arrangements.
Asked by: Sarah Hall (Labour (Co-op) - Warrington South)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to help ensure that banks do not apply blanket restrictions on providing banking services to legitimate blockchain and cryptoasset businesses.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government is aware that cryptoasset firms are facing challenges associated with access to banking services, and we are engaged with the sector on these matters.
Whilst the Government recognises that decisions around the provision of banking services are largely commercial in nature, we also expect businesses to be treated fairly. That is why the Government has already taken action in this space, including bringing forward legislation to enhance relevant protections in cases where a business has their bank account terminated by their provider.
The Government has also laid legislation to create a financial services regulatory regime for cryptoassets in the UK. Under this regime, firms will need to be licensed by the FCA to provide relevant cryptoasset services, and the Government would not expect such licensed firms to be subject to restrictions by banking services providers simply because of the sector they belong to.
Asked by: Kevin Hollinrake (Conservative - Thirsk and Malton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to page 79 of the Budget Policy Costings 2025, published in November 2025, what assessment her Department has made of the potential impact of the reduction of the Cash ISA limit to £12,000 on revenues to the Exchequer, separate to the other measures included in that estimate.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
At Autumn Budget 2025, the Government announced that the annual ISA allowance will be kept at £20,000 with the cash ISA limit set at £12,000 from April 2027 for under-65s. This is part of the wider strategy aimed at supporting people to get into investing, including Targeted Support, which will be available from April 2026. In addition, financial services firms will provide new, easily navigable ways for people to find the right UK investment for them.
The Government is introducing an age carve out for those aged 65 and above in recognition that they may need more flexibility in how they manage their savings as they approach retirement. Savers over the age of 65 will continue to be able to save up to £20,000 in a cash ISA each year.
The Exchequer Impact for the Reduction of the Cash ISA limit to £12,000 for under-65s from April 2027 measure in isolation is:
| 2026-27 | 2027-28 | 2028-29 | 2029-30 | 2030-31 |
Exchequer Impact (£m) | 0 | +5 | +15 | +30 | +45 |
Asked by: Oliver Dowden (Conservative - Hertsmere)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has considered (a) reviewing tax relief eligibility for childcare costs for freelancers in irregular employment sectors such as film and television and (b) enabling greater flexibility in the use of Government-funded childcare hours for (i) nannies and (ii) alternative provision outside standard nursery settings.
Answered by James Murray - Chief Secretary to the Treasury
It is our ambition that families have access to high-quality, affordable and flexible early education and care, improving opportunity for every child and work choices for every parent. This is key to the government’s Plan for Change, which starts with reaching the milestone of a record number of children being ready for school.
The government recognises that evidencing income can be more complex for self-employed individuals, particularly for those with variable or seasonal earnings. That is why self-employed parents are only expected to meet the minimum income requirement over the entire tax-year (and not quarterly as is the case for employees) to qualify for Tax-Free Childcare.
Asked by: Alex Brewer (Liberal Democrat - North East Hampshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate her Department has made of the level of economic growth required to support long‑term defence spending commitments.
Answered by James Murray - Chief Secretary to the Treasury
This Government has announced a significant uplift in defence spending over the Spending Review period, paid for by a reduction to ODA. This uplift is underpinned by our non-negotiable fiscal rules; reducing borrowing whilst investing in defence to keep the UK and allies safe and thus providing the stability that underpins the plans to boost economic growth. Future years’ spending allocations will be considered at the next Spending Review in 2027, which will be underpinned by the independent Office for Budget Responsibility’s economic and fiscal forecasts.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the potential economic benefits of increased investment in regional infrastructure projects.
Answered by James Murray - Chief Secretary to the Treasury
The 10 Year Infrastructure Strategy is core to delivering the government’s mission to boost living standards in every part of the UK, by funding at least £725 billion for infrastructure over the next decade. This is creating and connecting people to good jobs, supporting new housing and neighbourhoods, ensuring people can depend on vital public services and providing resilience in response to a changing world.
On Tuesday 17 March we announced new City Investment Funds which will provide up to £2.3 billion of new grant, loan, and patient capital funding, going directly into hands of mayors of the largest city regions in the North of England and the Midlands to deliver city densification at a local level, and to address viability gaps. City Investment Funds will bring together financing tools for five Mayoral Strategic Authorities in the North including West Yorkshire Combined Authority.
The government is also rolling out targeted local growth funding across the UK. Northern Ireland will receive a total of £45.5m per year of local growth funding over the next three years to invest in key growth priorities.
Asked by: Euan Stainbank (Labour - Falkirk)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to ensure consumers are protected from oil price increases.
Answered by James Murray - Chief Secretary to the Treasury
The government is engaging regularly with refiners, importers and distributors to ensure any emerging risks are identified and managed promptly. Households should be reassured the UK benefits from strong and diverse security of energy supplies, and there are no issues with fuel supply.
The government recognises the pressures facing households who rely on heating oil. This is why we are providing an additional £53 million of targeted support for those vulnerable households who would struggle to pay an upfront lump sum to top up their tanks in order to maintain their heating and hot water.
This funding has been allocated based on census data, reflecting where the greatest need is. Northern Ireland will receive £17.2 million, England £27 million, Scotland £4.6 million, and Wales £3.8 million.
Asked by: David Simmonds (Conservative - Ruislip, Northwood and Pinner)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, further to 3/2026: Pubs and Live Music Venue Relief local authority guidance, whether race courses are still designated as retail, hospitality and leisure for the purposes of the RHL multiplier.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
I refer the member to the answer given to UIN 97815 on the 8 December 2025
Asked by: Alex Brewer (Liberal Democrat - North East Hampshire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to help ensure that banks respond more rapidly to reported fraud by freezing suspected scam accounts immediately pending investigation.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government takes the issue of fraud very seriously and is dedicated to protecting the public from this appalling crime.
Financial institutions are required to maintain robust systems and controls to detect and prevent financial crime under the Money Laundering Regulations. Banks must report certain suspicious activity, including fraud, to the National Crime Agency under the Proceeds of Crime Act, and banks may already freeze or block accounts where suspicious activity is detected.
We introduced new rules allowing banks to delay and investigate suspicious payments for up to 72 hours. This supports interception of suspicious payments — complementing existing account‑freezing powers — by giving firms more time to prevent funds reaching fraudsters when complex cases are identified
As set out in the Fraud Strategy published on 9 March, we are now taking decisive additional action to reinforce the system‑wide response. The new Online Crime Centre will bring together law enforcement, intelligence agencies and private‑sector partners, including the financial services industry, to improve real‑time data sharing and analysis, helping firms spot suspected scam accounts sooner and act more quickly to freeze or restrict them where appropriate. Alongside this, we have launched a call for evidence on economic‑crime information sharing to remove barriers that currently prevent firms acting on intelligence earlier.
The Strategy also tasks the FCA with developing best‑practice guidance on preventing APP fraud and money‑mule activity, supporting firms to identify, investigate and close suspicious accounts more effectively, and improving protections for customers at risk.