Asked by: James Cleverly (Conservative - Braintree)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, further to the urgent question of 19 January 2026 Official Report, Column 25 on Business Rates: Retail, Hospitality and Leisure, whether it is her policy that business support for Retail, Hospitality and Leisure is reduced relative to 2024-25 levels.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Government is introducing new permanently lower tax rates for eligible retail, hospitality and leisure (RHL) properties. These new tax rates are worth nearly £1 billion per year and will benefit over 750,000 properties.
The new RHL tax rates replace the temporary RHL relief that has been winding down since the pandemic. Unlike RHL relief, the new rates are permanent, giving businesses certainty and stability, and there will be no cap, meaning all qualifying properties on high streets across England will benefit.
Asked by: Liz Jarvis (Liberal Democrat - Eastleigh)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment her Department has made of (a) levels and trends in household and public sector indebtedness, (b) levels of corporate indebtedness, including debt associated with investment in artificial intelligence, (c) risks arising from asset-price inflation relative to trends in productivity and wages; and what assessment she has made of (i) the potential impact of those trends on the UK's financial stability and (ii)) the adequacy of contingency planning for a financial market downturn.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Bank of England’s Financial Policy Committee (FPC) is responsible for identifying, monitoring and taking action to remove or reduce systemic risks to the UK financial system.
The FPC’s most recent (December 2025) Financial Stability Report notes that risks to financial stability increased during 2025, with key sources of risk including geopolitical tensions, fragmentation of trade and financial markets, and pressures on sovereign debt markets. The FPC also judged that many risky assets valuations remain stretched, particularly for technology companies focused on Artificial Intelligence (AI), and that this heightens the risk of a sharp correction. The report also notes that indebtedness measures indicate that UK households and corporates remain resilient in aggregate, but that the increasing role of debt financing in the AI sector could increase financial stability risks.
Overall, the FPC judges that the banking system is well capitalised, and strong enough to support households and businesses even in a period of stress.
HM Treasury, alongside the UK financial regulators, closely monitors markets conditions, as well as potential risks to UK financial stability. In the case of any disruption, the UK financial authorities have established mature coordination mechanisms to coordinate an appropriate response; and have a range of powers available to respond.
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 level of difficulty in obtaining a) home and b) buildings insurance for thatched buildings.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government has not made a specific assessment regarding the availability of home insurance for thatched buildings.
Insurers make commercial decisions about pricing and the terms of cover they offer based on their assessment of the relevant risks. The UK’s home insurance market is competitive, with many providers offering a variety of insurance products. The Financial Conduct Authority (FCA), the independent regulator of financial services, has a statutory objective to promote competition in the interests of consumers.
The government would always recommend that consumers shop around to find the most suitable cover at the best price. For more specialised risks, such as thatched roofing, it may be helpful for consumers to consult an insurance broker, who will be able to help search the market for specialist providers.
Asked by: Lisa Smart (Liberal Democrat - Hazel Grove)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether officials from HM Treasury who are providing support to the pensions Ombudsman have any involvement in the investigation of complaints concerning pension schemes for which HM Treasury has policy responsibility; and what steps are taken to avoid any actual or perceived conflicts of interest.
Answered by James Murray - Chief Secretary to the Treasury
No officials from HM Treasury are currently seconded to The Pensions Ombudsman and therefore there is no involvement of HM Treasury officials in its casework.
Asked by: Shivani Raja (Conservative - Leicester East)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has any plans to make (a) Universal Credit, (b) Employment and Support Allowance, and (c) Housing Benefit taxable state benefits.
Answered by James Murray - Chief Secretary to the Treasury
Means-tested benefits that are designed to meet specific costs, such as Universal Credit, income-related Employment and Support Allowance and Pension Credit, are not taxable, and the government has no current plans to alter this.
Asked by: Neil Duncan-Jordan (Labour - Poole)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she is taking steps to regulate credit card providers to ensure they lend to those who are (a) vulnerable and (b) persistently in debt in a responsible way.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Lenders offering credit are regulated by the Financial Conduct Authority (FCA). This oversight ensures that lending practices are fair and that consumers are protected – firms regulated by the FCA must comply with its strict lending affordability rules, lending only to those who can afford repayments based on a thorough assessment of their financial situation. Under the FCA’s Consumer Duty, firms are required to take steps to identify and respond to signs of vulnerability, support customers to disclose their needs, and make them aware of available assistance.
The Government is committed to supporting people who are experiencing problem debt. Through the Money and Pensions Service (MaPS), the Government funds a range of national and community-based debt advice services in England, so households can access the specialist support they need to get their finances back on track.
Asked by: Ben Maguire (Liberal Democrat - North Cornwall)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential financial impact of requiring the use of commercial software to submit Corporation Tax Returns on Community Amateur Sports Clubs.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
I recognise some Community Amateur Sports Clubs (CASCs) have raised concerns about the requirement to use commercial software to submit Company Tax Returns.
HMRC does not expect these requirements to impose significant ongoing costs. CASCs are not required to file a Company Tax Return every year. They only need to submit a return if HMRC issues a notice to deliver one, or if they have taxable income or gains that give rise to a Corporation Tax liability.
HMRC will continue to work with providers to explore low-cost options for the very smallest organisations needing to file Corporate Tax Returns, including CASCs.
Asked by: James Cleverly (Conservative - Braintree)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will list the overseas conferences that Valuation Office Agency officials have attended since July 2024.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The VOA attends a small number of overseas conferences which are an important part of sharing expertise, innovation and best practice. Since July 2024 they have attended the following:
Aug 2024 IAAO Conference, Denver;
Oct 2024 COVA Conference, Dublin;
Dec 2024, International Research Symposium, IAAO, Amsterdam;
Mar 2025, IAAO GIS Valuation Technologies Conference, Columbus, Ohio;
Sep 2025 IPTI Halifax, Nova Scotia
Asked by: James Cleverly (Conservative - Braintree)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, further to the Treasury Select Committee, Work of HM Revenue and Customs - Oral evidence, HC 416, 13 January 2026, Question 465, if she will list the Office for National Statistics datasets that the Valuation Office Agency is using.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Valuation Office Agency is using the following data from the Office of National Statistics: Census geographies and House Price Index.
Asked by: Jim Shannon (Democratic Unionist Party - Strangford)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions her Department has had with EU counterparts on EU regulations preventing the use of red diesel to power private leisure boats in the context of the maritime tourism industry.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Officials in my department regularly speak to EU counterparts on a range of issues.
Private Pleasure Craft (PPC)) across the UK incur the full duty rate on fuel used for propulsion (52.95 pence per litre (ppl)) and the rebated rate (10.18 ppl) for non-propulsion use.
PPC that refuel in Great Britain can use red diesel provided they pay a top up to reflect the difference in duty between the red diesel rate and the full duty rate to cover their propulsion use. PPC in Northern Ireland are not permitted to refuel with red diesel, but a relief scheme is in place to cover diesel used for non-propulsion purposes (e.g. heating and lighting the boat).