Asked by: David Chadwick (Liberal Democrat - Brecon, Radnor and Cwm Tawe)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she plans to ensure that UK steel producers are not subject to additional decarbonisation-related charges that could impact their competitiveness relative to overseas producers.
Answered by James Murray - Chief Secretary to the Treasury
The government is committed to supporting the UK steel sector and we will publish our strategy for the sector in 2026. This will articulate what is needed to create a competitive environment and to secure UK steelmaking capability.
Asked by: James McMurdock (Independent - South Basildon and East Thurrock)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the answer of 3 December 2025 to Question 94583 on Public Bodies: Fines, whether her Department plans to ringfence fines against NHS trusts for health-related spending.
Answered by James Murray - Chief Secretary to the Treasury
Income from fines, whether imposed by the courts or regulators, is in the most part returned to the Consolidated Fund and this income is not disaggregated by source.
Asked by: Al Pinkerton (Liberal Democrat - Surrey Heath)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of her fiscal policies on low income households in Surrey Heath constituency.
Answered by James Murray - Chief Secretary to the Treasury
HM Treasury’s ‘Impact on households’ publication, produced alongside the Budget 2025, shows that the impacts of this Government’s tax, welfare and public spending decisions from Autumn Budget 2024 onwards are progressive and benefit households in the lowest income deciles the most, on average.
Asked by: Gregory Campbell (Democratic Unionist Party - East Londonderry)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will consider changing air passenger duty on all passengers so that higher duty is levied on those who fly more frequently.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The distance-band structure of Air Passenger Duty (APD) already ensures that those who fly furthest, in the greatest comfort, pay the most. Similarly, given APD is charged on all UK-departing flights, those who fly most often pay more.
Asked by: David Chadwick (Liberal Democrat - Brecon, Radnor and Cwm Tawe)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department plans to include indirect emissions in the scope of the UK Carbon Border Adjustment Mechanism before 2029.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The inclusion of indirect emissions within scope of the CBAM will be delayed until 2029 at the earliest. This is to reflect continued support for the Energy Intensive Industries Compensation Scheme.
Asked by: Jim McMahon (Labour (Co-op) - Oldham West, Chadderton and Royton)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what place based funding allocations has the Government confirmed for each area in the UK for the current spending review period.
Answered by James Murray - Chief Secretary to the Treasury
The government is investing billions in city regions, towns and communities across the UK as a commitment to driving growth everywhere.
This includes, for example, the historic £15.6 billion investment in transport infrastructure in major city regions outside London; £410 million for a Local Innovation Partnerships Fund to support local leaders to drive innovation excellence in key sectors across the UK; at least £13 billion of funding via Integrated Settlements from 2026-27 to 2029-30 for seven Mayoral Strategic Authorities; and a Local Transport Grant providing £2.3 billion to enable local authorities to deliver transport improvements.
Asked by: Lord Taylor of Warwick (Non-affiliated - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government, with regard to the report by the Office for Budget Responsibility, Economic and fiscal outlook, published on 26 November, what assessment they have made of the risks of elevated global equity valuations driven in part by AI technology stocks to the economy.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The government does not comment on individual market moves.
The Office for Budget Responsibility (OBR) is the government's official forecaster responsible for assessing the UK economic and fiscal outlook, including the macroeconomic impacts of policy and the risks to the UK outlook. In its November 2025 Economic and Fiscal Outlook, the OBR assessed the potential impacts of a shock to global equity prices. The OBR presented two scenarios with a potential peak impact on UK real GDP of 0.5%-0.6% relative to its central forecast.
HM Treasury maintains a comprehensive framework for assessing and managing risks to the economic and fiscal outlook. This includes systematic monitoring through internal risk processes and risk governance forums, and collaboration with other government departments. HM Treasury also works closely with the UK financial regulators to assess risks relating to financial markets.
Asked by: Martin Rhodes (Labour - Glasgow North)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure (i) people can access Disabled Person’s Trust accounts from high street banks and (ii) public bodies are using powers to ensure access for families of disabled people to those accounts.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government is committed to ensuring that everyone can access appropriate financial services and products, which is vital for financial resilience and wellbeing and ensuring that individuals are able to fully participate in the economy.
The provision of services such as trust accounts is a commercial decision for individual banks and building societies, and the Government does not intervene in these decisions.
Under the Financial Conduct Authority’s (FCA) Consumer Duty, firms must consider the impact of withdrawing a product and take steps to mitigate harm. However, the FCA cannot compel firms to offer specific products.
The FCA is currently engaging with industry and stakeholders to explore issues around the provision of trust accounts for disabled people, and the Government supports this work.
Asked by: Tristan Osborne (Labour - Chatham and Aylesford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of introducing clearer regulatory and tax frameworks for cryptoasset investment on a) high-skilled job creation and b) assets under management.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government recognises the transformative potential for digital assets and blockchain technologies to drive economic growth in the UK and increase efficiencies across financial markets.
That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets. This will support growth in the UK by giving cryptoasset firms the regulatory certainty needed to invest here, and to help drive innovation in our financial services sector.
The government also keeps the tax framework for cryptoassets under review.
Asked by: Lord Kempsell (Conservative - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government whether relief for pensioners will be considered as part of the consultation on the high value council tax surcharge.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government will consult on options for support for those who may struggle to pay the High Value Council Tax Surcharge early in 2026. This will consider a range of options, to make sure any scheme is targeted and easy to access.