HM Treasury

HM Treasury is the government’s economic and finance ministry, maintaining control over public spending, setting the direction of the UK’s economic policy and working to achieve strong and sustainable economic growth.



Secretary of State

 Portrait

Rachel Reeves
Chancellor of the Exchequer

Shadow Ministers / Spokeperson
Liberal Democrat
Baroness Kramer (LD - Life peer)
Liberal Democrat Lords Spokesperson (Treasury and Economy)
Daisy Cooper (LD - St Albans)
Liberal Democrat Spokesperson (Treasury)

Conservative
Mel Stride (Con - Central Devon)
Shadow Chancellor of the Exchequer
Junior Shadow Ministers / Deputy Spokesperson
Conservative
Lord Altrincham (Con - Excepted Hereditary)
Shadow Minister (Treasury)
Richard Fuller (Con - North Bedfordshire)
Shadow Chief Secretary to the Treasury
Gareth Davies (Con - Grantham and Bourne)
Shadow Financial Secretary (Treasury)
Baroness Neville-Rolfe (Con - Life peer)
Shadow Minister (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Conservative
James Wild (Con - North West Norfolk)
Shadow Exchequer Secretary (Treasury)
Mark Garnier (Con - Wyre Forest)
Shadow Economic Secretary (Treasury)
Ministers of State
Darren Jones (Lab - Bristol North West)
Chief Secretary to the Treasury
Lord Livermore (Lab - Life peer)
Financial Secretary (HM Treasury)
Baroness Gustafsson (Lab - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
James Murray (LAB - Ealing North)
Exchequer Secretary (HM Treasury)
Emma Reynolds (Lab - Wycombe)
Economic Secretary (HM Treasury)
Torsten Bell (Lab - Swansea West)
Parliamentary Secretary (HM Treasury)
There are no upcoming events identified
Debates
Thursday 10th July 2025
Tax Increases
Lords Chamber
Select Committee Inquiry
Tuesday 31st January 2023
Quantitative tightening

This inquiry will examine quantitative tightening, including its impact on the economy and its fiscal costs. It will also investigate …

Written Answers
Thursday 10th July 2025
Imports: Tax Yields
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of the ongoing …
Secondary Legislation
Thursday 3rd July 2025
Markets in Financial Instruments (Miscellaneous Amendments) Regulations 2025
These Regulations are made in connection with the revocation by section 1(1) of, and Part 3 of Schedule 1 to, …
Bills
Wednesday 25th June 2025
Supply and Appropriation (Main Estimates) (No. 2) Bill 2024-26
A Bill to Authorise the use of resources for the year ending with 31 March 2026; to authorise both the …
Dept. Publications
Thursday 10th July 2025
14:59

Transparency

HM Treasury Commons Appearances

Oral Answers to Questions is a regularly scheduled appearance where the Secretary of State and junior minister will answer at the Dispatch Box questions from backbench MPs

Other Commons Chamber appearances can be:
  • Urgent Questions where the Speaker has selected a question to which a Minister must reply that day
  • Adjornment Debates a 30 minute debate attended by a Minister that concludes the day in Parliament.
  • Oral Statements informing the Commons of a significant development, where backbench MP's can then question the Minister making the statement.

Westminster Hall debates are performed in response to backbench MPs or e-petitions asking for a Minister to address a detailed issue

Written Statements are made when a current event is not sufficiently significant to require an Oral Statement, but the House is required to be informed.

Most Recent Commons Appearances by Category
Jul. 01
Oral Questions
Jul. 08
Written Statements
Jun. 25
Westminster Hall
Jun. 19
Adjournment Debate
View All HM Treasury Commons Contibutions

Bills currently before Parliament

HM Treasury does not have Bills currently before Parliament


Acts of Parliament created in the 2024 Parliament

Introduced: 13th November 2024

A Bill to make provision about secondary Class 1 contributions.

This Bill received Royal Assent on 3rd April 2025 and was enacted into law.

Introduced: 6th November 2024

A Bill to make provision about finance.

This Bill received Royal Assent on 20th March 2025 and was enacted into law.

Introduced: 25th July 2024

A Bill to amend the Crown Estate Act 1961.

This Bill received Royal Assent on 11th March 2025 and was enacted into law.

Introduced: 5th March 2025

A Bill to Authorise the use of resources for the years ending with 31 March 2024, 31 March 2025 and 31 March 2026; to authorise the issue of sums out of the Consolidated Fund for those years; and to appropriate the supply authorised by this Act for the years ending with 31 March 2024 and 31 March 2025.

This Bill received Royal Assent on 11th March 2025 and was enacted into law.

Introduced: 6th November 2024

A Bill to make provision for loans or other financial assistance to be provided to, or for the benefit of, the government of Ukraine.

This Bill received Royal Assent on 16th January 2025 and was enacted into law.

Introduced: 18th July 2024

A Bill to impose duties on the Treasury and the Office for Budget Responsibility in respect of the announcement of fiscally significant measures.

This Bill received Royal Assent on 10th September 2024 and was enacted into law.

Introduced: 24th July 2024

A Bill to authorise the use of resources for the year ending with 31 March 2025; to authorise both the issue of sums out of the Consolidated Fund and the application of income for that year; and to appropriate the supply authorised for that year by this Act and by the Supply and Appropriation (Anticipation and Adjustments) Act 2024.

This Bill received Royal Assent on 30th July 2024 and was enacted into law.

HM Treasury - Secondary Legislation

These Regulations are made in connection with the revocation by section 1(1) of, and Part 3 of Schedule 1 to, the Financial Services and Markets Act 2023 (c. 29) of Commission Delegated Regulation (EU) 2017/565 of 25 April 2016 supplementing Directive 2014/65/EU of the European Parliament and of the Council as regards organisational requirements and operating conditions for investment firms and defined terms for the purposes of that Directive (“the Commission Delegated Regulation”).
These Regulations amend the Multinational Top-up Tax (Pillar Two Territories, Qualifying Domestic Top-up Taxes and Accredited Qualifying Domestic Top-up Taxes) Regulations 2025 (S.I. 2025/406) (“the 2025 Regulations”).
View All HM Treasury Secondary Legislation

Petitions

e-Petitions are administered by Parliament and allow members of the public to express support for a particular issue.

If an e-petition reaches 10,000 signatures the Government will issue a written response.

If an e-petition reaches 100,000 signatures the petition becomes eligible for a Parliamentary debate (usually Monday 4.30pm in Westminster Hall).

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Petitions with most signatures
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7,907 Signatures
(132 in the last 7 days)
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7,159 Signatures
(19 in the last 7 days)
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5,675 Signatures
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Petition Open
5,186 Signatures
(24 in the last 7 days)
Petition Open
4,281 Signatures
(7 in the last 7 days)
Petition Debates Contributed

Raise the income tax personal allowance from £12570 to £20000. We think this would help low earners to get off benefits and allow pensioners a decent income.

We think that changing inheritance tax relief for agricultural land will devastate farms nationwide, forcing families to sell land and assets just to stay on their property. We urge the government to keep the current exemptions for working farms.

Prevent independent schools from having to pay VAT on fees and incurring business rates as a result of new legislation.

View All HM Treasury Petitions

Departmental Select Committee

Treasury Committee

Commons Select Committees are a formally established cross-party group of backbench MPs tasked with holding a Government department to account.

At any time there will be number of ongoing investigations into the work of the Department, or issues which fall within the oversight of the Department. Witnesses can be summoned from within the Government and outside to assist in these inquiries.

Select Committee findings are reported to the Commons, printed, and published on the Parliament website. The government then usually has 60 days to reply to the committee's recommendations.


11 Members of the Treasury Committee
Meg Hillier Portrait
Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)
Treasury Committee Member since 9th September 2024
Yuan Yang Portrait
Yuan Yang (Labour - Earley and Woodley)
Treasury Committee Member since 21st October 2024
Jeevun Sandher Portrait
Jeevun Sandher (Labour - Loughborough)
Treasury Committee Member since 21st October 2024
Lola McEvoy Portrait
Lola McEvoy (Labour - Darlington)
Treasury Committee Member since 21st October 2024
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 21st October 2024
John Glen Portrait
John Glen (Conservative - Salisbury)
Treasury Committee Member since 21st October 2024
Rachel Blake Portrait
Rachel Blake (Labour (Co-op) - Cities of London and Westminster)
Treasury Committee Member since 21st October 2024
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 21st October 2024
Bobby Dean Portrait
Bobby Dean (Liberal Democrat - Carshalton and Wallington)
Treasury Committee Member since 28th October 2024
Chris Coghlan Portrait
Chris Coghlan (Liberal Democrat - Dorking and Horley)
Treasury Committee Member since 28th October 2024
John Grady Portrait
John Grady (Labour - Glasgow East)
Treasury Committee Member since 9th December 2024
Treasury Committee: Upcoming Events
Treasury Committee - Oral evidence
Office for Budget Responsibility Fiscal Risks and Sustainability Report
15 Jul 2025, 9:45 a.m.
At 10:15am: Oral evidence
Richard Hughes - Chair at Office for Budget Responsibility
Professor David Miles CBE - Member at Budget Responsibility Committee
Tom Josephs - Member at Budget Responsibility Committee
At 11:30am: Oral evidence
Richard Hughes - Chair at Office for Budget Responsibility

View calendar - Save to Calendar
Treasury Committee - Private Meeting
16 Jul 2025, 2 p.m.
View calendar - Save to Calendar
Treasury Committee: Previous Inquiries
The Financial Conduct Authority’s Regulation of London Capital & Finance plc Budget 2021 Work of National Savings and Investments Lessons from Greensill Capital Appointment of Carolyn Wilkins to the Financial Policy Committee Appointment of Tanya Castell to the Prudential Regulatory Committee The work of the Prudential Regulation Authority Reappointment of Jill May and Julia Black to the Prudential Regulation Committee Committee on COP26: climate change and finance Spring Budget 2020 Appointment of Sarah Breeden to the Financial Policy Committee Appointment of Catherine Mann to the Monetary Policy Committee Reappointment of Jonathan Haskel to the Monetary Policy Committee Bank of England July Financial Stability Report and August Monetary Policy Report Economic Crime Regional Imbalances in the UK economy The Work of the Debt Management Office Appointment of Richard Hughes as Chair of the Office for Budget Responsibility Reappointment of Professor Silvana Tenreyro to the Monetary Policy Committee Reappointment of Andy Haldane to the Monetary Policy Committee Appointment of Jonathan Hall to the Financial Policy Committee Appointment of Nikhil Rathi as Chief Executive of the Financial Conduct Authority Maxwellisation inquiry The work of National Savings and Investments inquiry Retail Banking Market Review inquiry HMRC Executive Chair and Chief Executive Financial stability one-off hearing Appointment of the CEO of Financial Conduct Authority Bank of England Financial Stability Report Hearings 2016-17 UK's future economic relationship with the EU inquiry Appointment of Deputy Governor for Prudential Regulation EU Insurance Regulation inquiry HM Treasury: Report and Accounts 2015 – 2016 Appointment of Michael Saunders to the Monetary Policy Committee Appointment of Anil Kashyap to the Financial Policy Committee Tax credits, fraud and error inquiry The work of the Chancellor of the Exchequer inquiry Bank of England Inflation Report Hearing August 2016 Prudential Regulation Authority inquiry Sir Charles Bean appointment to Budget Responsibility Committee UK tax policy and the tax base inquiry Government Internal Audit Agency inquiry HM Treasury Annual Report and Accounts 2014-15 inquiry Valuation Office Agency inquiry Independent review of report into failure of HBOS inquiry Review of the Office for National Statistics inquiry Appointment of Angela Knight as Chair of the Office for Tax Simplification Appointment of Tim Parkes as Chair of Regulatory Decisions Committee Budget 2016 inquiry Financial Policy Committee re-appointment hearings Bank of England Inflation Report Hearing May 2016 Work of the Court of the Bank of England inquiry Bank of England Inflation Report Hearing February 2017 Appointment of the Deputy Governor for Markets and Banking Budget 2017 inquiry Restoration and Renewal of the Palace of Westminster inquiry Capital inquiry Work of the Payment Systems Regulator inquiry Effectiveness and impact of post-2008 UK monetary policy Access to basic retail financial services inquiry Financial Conduct Authority inquiry Bank of England Inflation Report Hearing November 2016 UK Financial Investments annual reports and accounts 2015-16 Housing Policy inquiry Autumn Statement 2016 Household finances: income, saving and debt inquiry Bank of England Inflation Reports inquiry Budget Autumn 2017 inquiry Student Loans inquiry The UK's economic relationship with the European Union inquiry The work of the Bank of England inquiry The work of the Financial Conduct Authority The work of the National Infrastructure Commission inquiry Women in finance inquiry Appointment of Professor Silvana Tenreyro to the Monetary Policy Committee Appointment of Sir Dave Ramsden as Deputy Governor for Markets and Banking, Bank of England The work of the Chancellor of the Exchequer EU Insurance Regulation inquiry HMRC Annual Report and Accounts inquiry Re-appointment of Professor Anil Kashyap to the Financial Policy Committee inquiry Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England inquiry The effectiveness of gender pay gap reporting inquiry Decarbonisation of the UK Economy and Green Finance inquiry Regional Imbalances in the UK Economy inquiry Work of the Financial Services Compensation Scheme inquiry Spending Round 2019 inquiry Access to Cash Review inquiry Appointment of Kathryn Cearns as Chair of the Office of Tax Simplification inquiry The future of the UK’s financial services inquiry The impact of Business Rates on business inquiry Spring Statement 2019 inquiry The work of the Adjudicator’s Office inquiry The work of the Debt Management Office inquiry Independent Review of the Co-Operative Bank inquiry Work of the Court of the Bank of England inquiry Tax enquiries and resolution of tax disputes inquiry IT failures in the financial services sector inquiry Work of the Banking Standards Board inquiry Independent Review of the Financial Ombudsman Service Appointment of Bradley Fried as Chair of Court, Bank of England Appointment of Professor Jonathan Haskel to the Monetary Policy Committee Andy King, Nominated Member of the Budget Responsibility Committee Re-appointment of Dr Gertjan Vlieghe to the Monetary Policy Committee Maxwellisation inquiry Work of the Valuation Office Agency inquiry Appointment of Julia Black as external member of the Prudential Regulation Committee Appointment of Jill May as an external member of the Prudential Regulation Committee Consumers’ Access to Financial Services inquiry The re-appointment of Sir Jon Cunliffe as Deputy Governor for Financial Stability at the Bank of England inquiry Budget 2018 inquiry The Work of the Treasury inquiry Service Disruption at TSB inquiry Economic Crime inquiry Re-appointment of Alex Brazier to the Financial Policy Committee Re-appointment of Donald Kohn to the Financial Policy Committee Re-appointment of Martin Taylor to the Financial Policy Committee VAT inquiry Spring Statement 2018 Digital Currencies inquiry Appointment of Charles Randell as Chair of the Financial Conduct Authority SME Finance inquiry Appointment of Elisabeth Stheeman to the Bank of England Financial Policy Committee The work of the Prudential Regulation Authority inquiry Bank of England Financial Stability Reports RBS's Global Restructuring Group and its treatment of SMEs inquiry Childcare inquiry The work of the Payment Systems Regulator inquiry HM Treasury Annual Report and Accounts inquiry Women in the City Crown Estate Cheques, the end of? Mortgage Arrears and Access to Mortgage Finance: Follow up Financial Institutions - Too Important To Fail? Budget 2010 Credit Searches European Macro and Micro Prudential Financial Regulation Presbyterian Mutual Society Pre-Budget Report 2009 Budget 2009 Pre-Budget Report 2008 Budget 2008 Pre-Budget Report 2007 Mortgage Arrears and Access to Mortgage Finance Evaluating the Efficiency Programme Administration and expenditure of the Chancellor’s Departments, 2008-09 Banking Crisis Banking Crisis: International Dimensions Banking Reform Run on the Rock Budget June 2010 Competition and choice in the banking sector Office for Budget Responsibility Financial Regulation Spending Review 2010 Administration and effectiveness of HMRC The principles of tax policy Retail Distribution Review European financial regulation Autumn forecast 2010 Accountability of the Bank of England Private Finance Initiative Budget 2011 Future of Cheques Independent Commission on Banking: Interim Report Closing the tax gap: HMRC's record at ensuring tax compliance Budget Measures and Low-income Households Financial Conduct Authority Inherited Estates Counting the population Administration and expenditure of the Chancellor's Departments, 2006-07 Comprehensive Spending Review 2007 Administration and expenditure of the Chancellor's Departments, 2007-08 Independent Commission on Banking: Final Report Global Imbalances Autumn Statement 2011 Budget 2012 Corporate governance and remuneration Money Advice Service LIBOR FSA's report into HBOS Spending Round 2013 Project Verde Macroprudential tools Disposal of Government Stakes in RBS and Lloyds Credit Rating Agencies Autumn Statement 2012 Appointment of Dr Mark Carney as Governor of the Bank of England Budget 2013 Quantitative easing Private Finance 2 Autumn Statement 2013 Bank of England Financial Stability Report hearings: Session 2014-15 Appointment hearings, Session 2013-14 Bank of England Inflation Report Hearings: Session 2013-14 EU Financial Regulation Monetary Policy: Forward Guidance UK Financial Investments Ltd 2013 The economics of HS2 SME Lending Financial Conduct Authority hearings The costing of pre-election policy proposals Performance of the Royal Mint Budget 2014 The economics of currency unions OBR: July 2013 Fiscal Sustainability Report Banks' Lending Practices: Treatment of Businesses in Distress RBS Independent Lending Review Prudential Regulation Authority Hearings: Session 2014-15 HM Treasury Annual Report and Accounts 2013-14 Treatment of Financial Services Consumers Bank of England Inflation Report Hearings: Session 2014-15 HMRC Business Plan 2014-16 Manipulation of Benchmarks Appointment hearings, Session 2014-15 Co-op Governance Review Cost effectiveness of economic and financial sanctions Bank of England Financial Stability Report Hearings 2015-16 Bank of England Inflation Report Hearings 2015-16 Summer Budget 2015 inquiry UK Financial Investments Ltd Annual Report and Accounts 14-15 Review of scope and performance of Office for Budget Responsibility Bank of England Bill inquiry Chair of Office for Budget Responsibility reappointment hearing HMRC Annual Report and Accounts 2014-15 inquiry Prudential Regulation Authority inquiry Comprehensive Spending Review and Autumn Statement 2015 inquiry Review of CMA work on Retail Banking Market one-off session Financial Conduct Authority Practitioner Panels one-off session Appointment of Gertjan Vlieghe to the Monetary Policy Committee hearing Reappointment of Ian McCafferty to the Monetary Policy Committee hearing Financial Conduct Authority Economic and financial costs and benefits of UK's EU membership Crown Estate Annual Report and Accounts 2013/14 Bank of England Foreign Exchange Market Investigation HM Revenue and Customs and HSBC Budget 2015 The UK's EU Budget Contributions Press briefing of information in the Financial Conduct Authority’s 2014/15 Business Plan Fair and Effective Markets Review The Payment Systems Regulator Implementing the recommendations on the Parliamentary Commission on Banking Standards Autumn Statement 2014 Work of the Tax Assurance Commissioner UK Financial Investments Ltd Proposals for further Fiscal and Economic Devolution to Scotland Debt Management Office Annual Report and Accounts 2013-14 UK Customs Policy Infrastructure The cost of living The venture capital market The crypto-asset industry Tax Reliefs September 2022 Fiscal Event The Financial Services and Markets Bill The mortgage market The Edinburgh Reforms Quantitative tightening Retail Banks Appointment of Andrew Bailey as Governor of the Bank of England Work of Government Actuary’s Department Work of the Financial Ombudsman Service Work of HM Treasury Future of Financial Services Spending Review 2020 HMRC Annual Report and Accounts Bank of England Financial Stability Reports The appointment of John Taylor to the Prudential Regulation Committee UK’s economic and trading relationship with the EU The appointment of Antony Jenkins to the Prudential Regulation Committee Access to Cash Review Bank of England Financial Stability Reports Bank of England Inflation Reports Consumers’ Access to Financial Services Decarbonisation of the UK Economy and Green Finance Economic Crime The effectiveness of gender pay gap reporting HMRC Annual Report and Accounts inquiry Tax enquiries and resolution of tax disputes IT failures in the financial services sector Appointment of Dame Colette Bowe to the Financial Policy Committee Re-appointment of Professor Anil Kashyap to the Financial Policy Committee Work of the Financial Services Compensation Scheme Spending Round 2019 The impact of Business Rates on business Work of the Court of the Bank of England Independent Review of the Co-Operative Bank Regional Imbalances in the UK Economy Re-appointment of Michael Saunders to the Monetary Policy Committee Re-appointment of Ben Broadbent as Deputy Governor for Monetary Policy, Bank of England Maxwellisation RBS's Global Restructuring Group and its treatment of SMEs SME Finance Spring Statement 2019 The future of the UK’s financial services HM Treasury Annual Report and Accounts Service Disruption at TSB The UK's economic relationship with the European Union VAT The work of the Bank of England The work of the Chancellor of the Exchequer The work of the Financial Conduct Authority The Work of the Treasury The work of the Prudential Regulation Authority

50 most recent Written Questions

(View all written questions)
Written Questions can be tabled by MPs and Lords to request specific information information on the work, policy and activities of a Government Department

2nd Jul 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of the ongoing review of the customs treatment of low-value imports on tax revenue.

On 23rd April, the Government announced a review of the customs treatment for low value imports. Under our current low value import arrangements, consignments valued below £135 from any overseas retailer can be imported into the UK without incurring customs duty. VAT is due on all imports into the UK.

Since the announcement, Ministers and officials have engaged with a wide range of stakeholders on the impact and operation of these arrangements to support our review. The outcomes of the engagement will help inform our next steps.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of introducing a tiered business rates system to support (a) emerging and (b) small businesses.

The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

At Autumn Budget 2024, we took the first step with the announcement of permanently lower tax rates for the Retail, Hospitality and Leisure properties with rateable values below £500,000, from 2026-27.

Ahead of these changes being made, the Government recognises that businesses will need support in 2025-26. As such, we have prevented the current RHL relief from ending in April 2025, extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and we have frozen the small business multiplier.

The Budget announcements reflect the Government’s first steps to support the high street. We want to go further to modernise the system, and so, we have published a Discussion Paper setting out priority areas for reform.

In summer, the Government will publish an interim report that sets out a clear direction of travel for the business rates system, with further policy detail to follow at Autumn Budget 2025.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what recent progress she has made on the reform of business rates.

The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

At Autumn Budget 2024, we took the first step with the announcement of permanently lower tax rates for the Retail, Hospitality and Leisure properties with rateable values below £500,000, from 2026-27.

Ahead of these changes being made, the Government recognises that businesses will need support in 2025-26. As such, we have prevented the current RHL relief from ending in April 2025, extending it for one year at 40 per cent up to a cash cap of £110,000 per business, and we have frozen the small business multiplier.

The Budget announcements reflect the Government’s first steps to support the high street. We want to go further to modernise the system, and so, we have published a Discussion Paper setting out priority areas for reform.

In summer, the Government will publish an interim report that sets out a clear direction of travel for the business rates system, with further policy detail to follow at Autumn Budget 2025.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, how many small and medium-sized enterprises in Northern Ireland have used the Trader Support Service; and what proportion of the service’s costs have supported those businesses.

The Trader Support Service (TSS) is available to businesses of all sizes to support them with moving goods between Great Britain and Northern Ireland. It is not possible to specify the numbers of Small and Medium-sized Enterprises (SMEs) that use the TSS, and therefore not possible to disaggregate the costs of provision of support to those SMEs from the overall support the TSS provides to business.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, if she will take steps to provide provide financial support for communities seeking to bring disused pubs back into use.

The Government recognises the important role pubs play on our high streets and in community spaces and we want to see them thrive.

That is why we have funded a wide range of community assets, including pubs, through the Community Ownership Fund. On 23 December 2024, this Government announced the outcome of Round 4 of the Community Ownership Fund, the largest ever round to date which approved funds for 6 community pub projects.

Through The Hospitality Support Scheme, we are working with Pub is the Hub and providing funds to help community pubs adapt to changing local needs, ensuring these vital social hubs continue delivering for their communities.

As part of the English Devolution Bill, the Government will legislate to introduce a strong new ‘right to buy’ for valued community assets, such as empty shops, pubs and community spaces. This will empower local people to bring community spaces back into community ownership and end the blight of empty premises on our high streets. More details will be announced in due course.

In addition, we will soon be publishing our Small Business Strategy, which will announce further measures to support small businesses in the pub and hospitality sector which will help revitalise high streets.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential fiscal impact of introducing an exit tax payable upon persons ending their UK tax residency.

HMRC publishes regular estimates of the direct impacts of illustrative tax changes in its Direct effects of illustrative tax changes publication. However, the Government does not routinely publish costings for hypothetical tax changes outside of this.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, how the year-on-year spending associated with the Chagos Islands deal will be funded.

Any financial obligations arising from the UK-Mauritius agreement on the Chagos Archipelago, including departmental budgetary responsibilities, will be managed responsibly within the government’s fiscal framework and reported in annual accounts in the usual way. Obligations within MOD and FCDO budgets have been agreed through the recently published Spending Review. No payments will be made until the treaty is legally binding.

Darren Jones
Chief Secretary to the Treasury
7th Jul 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the fiscal impact of introducing a wealth tax.

The Government is committed to making sure the wealthiest in our society pay their fair share of tax. That is why the Chancellor announced a series of reforms at Autumn Budget 2024 to help fix the public finances in as fair a way as possible.  These and other decisions announced at the Budget will help repair the public finances and fund public services such as the NHS and education.

James Murray
Exchequer Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, if she will instruct the Financial Conduct Authority to investigate pricing in the insurance market.

Insurers make commercial decisions about the price and terms of cover they offer based on their assessment of the relevant risks.

However, the Government is determined that insurers should treat customers fairly and firms are required to do so under Financial Conduct Authority (FCA) rules. The FCA requires firms to ensure their products offer fair value (i.e. if the price a consumer pays for a product or service is reasonable compared to the overall benefits they can expect to receive).

The FCA monitors firms to ensure they provide products that offer fair value and has robust powers to act against firms that fail to comply with its rules.

Emma Reynolds
Economic Secretary (HM Treasury)
4th Jul 2025
To ask the Chancellor of the Exchequer, whether she is taking steps to help ensure that SME firms with defence contracts are not de-banked by financial institutions.

The government recognises that access to banking services is vital for people and businesses across the UK. It is this government's firm position that no firm should be denied access to banking services solely on the grounds they work in defence. The upcoming Defence Industrial Strategy will have SMEs at its heart, and will lay out the steps we are taking as government to support defence SMEs.

The government has already legislated to strengthen protections for customers. From April 2026, banks and other providers will be required to give customers a longer notice period of at least 90 days and to provide customers with a sufficiently detailed and specific explanation before they terminate services. This will give people and businesses the time and information they need to challenge decisions or find an alternative provider.

We continue to monitor wider access to bank account provision but recognise this is largely a commercial matter. Firms have strict obligations to ensure the legitimacy of a business and protect against financial crime.

Emma Reynolds
Economic Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what steps she is taking to protect access to cash.

The Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses.

The Financial Services and Markets Act 2023 granted the FCA the responsibility and powers to seek to ensure the reasonable provision of cash withdrawal and deposit facilities. In September 2024, the FCA introduced regulatory rules for access to cash. Its rules require the reasonable provision of cash withdrawal and deposit facilities, including free services for personal current accounts.

In the UK, LINK, the operator of the UK’s largest ATM network, has committed to protect the broad geographic spread of ATMs. Data on UK ATM coverage can be found on its website.

Where a resident, community organisation or other interested party feels access to cash in their community is insufficient, they can submit a request for a cash access assessment to LINK. In circumstances where LINK considers that a community requires additional cash services, the financial services sector will provide a suitable shared solution, such as an ATM, cash deposit service, or shared Banking Hub, for cash users in that community. Further information about submitting a cash access request can be found on LINK’s website.

Emma Reynolds
Economic Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what information her Department holds on the number of banks that have removed access to ATM’s from rural communities in each of the last five years.

The Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses.

The Financial Services and Markets Act 2023 granted the FCA the responsibility and powers to seek to ensure the reasonable provision of cash withdrawal and deposit facilities. In September 2024, the FCA introduced regulatory rules for access to cash. Its rules require the reasonable provision of cash withdrawal and deposit facilities, including free services for personal current accounts.

In the UK, LINK, the operator of the UK’s largest ATM network, has committed to protect the broad geographic spread of ATMs. Data on UK ATM coverage can be found on its website.

Where a resident, community organisation or other interested party feels access to cash in their community is insufficient, they can submit a request for a cash access assessment to LINK. In circumstances where LINK considers that a community requires additional cash services, the financial services sector will provide a suitable shared solution, such as an ATM, cash deposit service, or shared Banking Hub, for cash users in that community. Further information about submitting a cash access request can be found on LINK’s website.

Emma Reynolds
Economic Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of reducing the Soft Drinks Industry Levy thresholds on consumers.

An assessment of impacts – including health impacts for consumers – is enclosed within the ‘Strengthening the Soft Drinks Industry Levy’ consultation document. This is available at https://www.gov.uk/government/consultations/strengthening-the-soft-drinks-industry-levy.

The government welcomes feedback on the proposed changes as part of the consultation, which is open until 21 July 2025 and will inform decisions at a future Budget. If the government decides to make changes to the levy, it will publish a tax information and impact note (TIIN) to give account of the confirmed policy’s impacts.

James Murray
Exchequer Secretary (HM Treasury)
7th Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 4 July to Question 62703 on Defence: Finance, what the total financial quantum was of the elements of the single intelligence account which will be included in the Ministry of Defence budget from 2027.

The Single Intelligence Account plays a vital role in our national defence, hence it has received an increase of funding in the Spending Review, and it will make a greater contribution to the UK’s total NATO qualifying defence spending from 2027.

This does not mean that the intelligence and security services will be added to the MOD budget; they remain distinct budgets reflecting spend on different departments.

NATO qualifying defence spending has always included elements beyond the MOD TDEL budget.

Darren Jones
Chief Secretary to the Treasury
2nd Jul 2025
To ask the Chancellor of the Exchequer, what the total cost to the public purse is for the Trader Support Service since 11 June 2020, broken down by financial year.

The costs of the Trader Support Service by financial year are set out below.

Financial Year

Costs

2020/21

£100.62m

2021/22

£148.80m

2022/23

£114.68m

2023/24

£105.19m

2024/25

£88.15m

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, how many staff in her Department have permission to work remotely outside the UK; and in which countries those staff are based.

HM Treasury's international remote working policy permits certain staff to work remotely overseas in order to accompany a partner posted abroad on HMG business. There are two members of staff who each have permission to work remotely from a European country. For UK GDPR purposes we are not able to share the countries where staff are located since they are there for personal circumstances.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, whether she has allocated funding to continue the Trader Support Service beyond 2025-26.

The Government is committed to ongoing support to businesses moving goods between Great Britain and Northern Ireland, and published details of the procurement opportunity for the next phase of the Trader Support Service from January 2026 onwards on 17 February 2025.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the value for money of the Trader Support Service for business support outcomes in Northern Ireland.

The Government considers the Trader Support Service a vital element of support to help traders moving goods between Great Britain and Northern Ireland access the benefits of the Windsor Framework.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, with reference to the Institute for Fiscal Studies report entitled, The short- and medium-term effects of Sure Start on children’s outcomes, published in May 2025, what assessment she has made of the impact of Sure Start children's centres on long term potential earnings.

The Government shares the IFS’s assessment that Sure Start made a positive impact on children’s outcomes. To this end, the government recently announced over £500 million investment by the end of 2028 to roll out Family Hubs to every local authority in England over the Spending Review period. The programme aims to reach children in the most disadvantaged areas and draws on the legacy of Sure Start to ensure all children have the best start in life.

Darren Jones
Chief Secretary to the Treasury
1st Jul 2025
To ask the Chancellor of the Exchequer, what recent assessment she has made of the cumulative impact of changes to (a) business rates and (b) employer National Insurance contributions on the financial viability of (i) pubs and (ii) breweries.

From 2026-27, we intend to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with rateable values below £500,000. This permanent tax cut will ensure that eligible RHL businesses benefit from much-needed certainty and support.

Eligibility for the new RHL multipliers is intended to broadly reflect the scope of the existing RHL relief scheme, and will be set out in legislation later this year.

Until these new tax rates are introduced, in 2025-26, RHL businesses will receive a 40 per cent relief on their eligible properties up to a cash cap of £110,000 per business. Under the previous Government, RHL relief was due to end entirely in April 2025. By extending the relief, the Government has saved the average pub, with a ratable value of £16,800, over £3,300.

Tax policy and legislation is not subject to the Better Regulation Framework Guidance, which requires an Impact Assessment to accompany policy decisions. Nevertheless, when the new multipliers are set at Budget 2025, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.

Regarding National Insurance contributions, a Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the Exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.

James Murray
Exchequer Secretary (HM Treasury)
1st Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 June 2025 to Question 57280 on Local Government: Reorganisation, what estimate she has made of the change in public sector net borrowing from local government reorganisation in each of the next four financial years; and whether she plans to limit the levels of that reorganisation.

HM Treasury has not undertaken an assessment of the impact of local government reorganisation on local authority borrowing nor the impact on public sector net borrowing. The OBR will continue to update its forecast for overall local government borrowing at each fiscal event, in line with standard practice.

The government announced its plans for local government reorganisation in the English Devolution White Paper on 16 December 2024. The ambition is to replace two-tier authorities with suitably sized unitary councils to create simpler structures, strengthen disjointed services and help councils pursue efficiencies. The Ministry of Housing, Communities and Local Government received interim plan responses from all areas in March. Surrey councils submitted their final proposals on 9 May 2025, and all other areas invited will be submitting their final proposals later this year. The government will set out next steps in due course.

Darren Jones
Chief Secretary to the Treasury
1st Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 June 2024 to Question 54793 on British Indian Ocean Territory: Sovereignty, what proportion of the costs will come from the (a) Ministry of Defence and (b) Foreign, Commonwealth and Development Office budgets.

The payments to Mauritius will be split between the Foreign, Commonwealth and Development Office and Ministry of Defence. They will be published in the normal manner alongside other departmental spend in the annual accounts.

Darren Jones
Chief Secretary to the Treasury
1st Jul 2025
To ask the Chancellor of the Exchequer, what recent discussions she has had with the Secretary of State for Environment, Food and Rural Affairs on conditions attached to the spending of the farming budget to ensure (a) value for money, (b) increased food security and (c) environmental targets are met.

The Chancellor and I have regular discussions with the Secretary of State for Environment, Food and Rural Affairs on a range of matters.

Defra’s settlement will invest more than £2.7 billion a year in sustainable farming and nature recovery from 2026-27 until 2028-29. This will protect the natural ecosystems underpinning food production, boosting food security and delivery of our environmental targets. We are increasing value for money, and accelerating progress towards our environmental targets, by rapidly winding down subsidy payments that do not provide a return on investment to increase funding for Environmental Land Management schemes from £800 million in 2023-24 to £2 billion by 2028-29.

Darren Jones
Chief Secretary to the Treasury
2nd Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the impact of changes to the employer National Insurance contributions on employment levels in the hospitality sector.

The Government has set out the impacts of the policy changes from Autumn Budget 2024 in the usual way.

A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.

With all policies considered, this forecasts the employment level to increase from 33.6 million in 2024 to 34.8 million in 2029.

The Office for Budget Responsibility published its most recent Economic and Fiscal Outlook (EFO) in March 2025, which sets out a detailed forecast of the economy and public finances.

The Government decided to protect the smallest businesses from the changes to employer NICs by increasing the Employment Allowance from £5,000 to £10,500. This means that this year, 865,000 employers will pay no NICs at all, and more than half of all employers will either gain or will see no change.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, if she will publish a distributional impact assessment of changes to national insurance contributions on (a) low and (b) middle income workers in the hospitality industry.

The Government has set out the impacts of the policy changes from Autumn Budget 2024 in the usual way.

A Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.

With all policies considered, this forecasts the employment level to increase from 33.6 million in 2024 to 34.8 million in 2029.

The Office for Budget Responsibility published its most recent Economic and Fiscal Outlook (EFO) in March 2025, which sets out a detailed forecast of the economy and public finances.

The Government decided to protect the smallest businesses from the changes to employer NICs by increasing the Employment Allowance from £5,000 to £10,500. This means that this year, 865,000 employers will pay no NICs at all, and more than half of all employers will either gain or will see no change.

James Murray
Exchequer Secretary (HM Treasury)
3rd Jul 2025
To ask the Chancellor of the Exchequer, what budget has been allocated for the London Coalition on Sustainable Sovereign Debt.

No government funding has been allocated to the London Coalition on Sustainable Sovereign Debt. As set out in my written ministerial statement of 23rd June, the Coalition is convened by the Sustainable Sovereign Debt Hub and funded by CIFF (The Children’s Investment Fund Foundation).

Emma Reynolds
Economic Secretary (HM Treasury)
3rd Jul 2025
To ask the Chancellor of the Exchequer, what dates have been set for (a) the inaugural meeting and (b) any future meetings of the London Coalition on Sustainable Sovereign Debt.

The launch event for the London Coalition on Sustainable Sovereign Debt took place on 23rd June. Dates for future meetings are still being finalised.

Emma Reynolds
Economic Secretary (HM Treasury)
3rd Jul 2025
To ask the Chancellor of the Exchequer, what steps she is taking to incentivise saving.

Individuals can save up to £20,000 into an Individual Savings Account each year, and any savings income received is tax free. Along with the Personal Savings Allowance of up to £1,000, and the Starting Rate for Savings of up to £5,000 for those with earned income below £17,570, around 85 per cent of people with savings income pay no tax.

The Help to Save scheme also supports low-income working households to start a long-term savings habit.

Emma Reynolds
Economic Secretary (HM Treasury)
3rd Jul 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of a reduction on the savings limit on Individual Savings Accounts on savers.

The Government is committed to incentivising greater saving and investment. Individual Savings Accounts (ISAs) help people save for their future goals and build greater financial resilience.

The Government recognises the important role that cash savings play in helping households build a financial buffer for a rainy day. The Government also wants to see more consumers participate in capital markets and benefit from the long-term financial security and returns that investing can provide.

The impact of any changes to ISAs would be set out in a tax information impact note. The Government continues to keep all aspects of savings policy under review.

Emma Reynolds
Economic Secretary (HM Treasury)
1st Jul 2025
To ask the Chancellor of the Exchequer, what steps her Department is taking to help improve the (a) financial oversight and (b) delivery assurance of major infrastructure projects.

The government oversees some of the UK’s largest and most complex infrastructure projects. We are committed to enhancing the oversight and assurance of these projects through a series of reforms, including streamlining approvals and strengthening assurance. It will be better integrated and carried out by multi-disciplinary teams at critical stages of projects. For mega projects in particular, the government has announced new budgeting and governance arrangements to ensure better planning and transparency of our biggest, transformational projects, in line with recommendations from the Office for Value for Money. We are also improving transparency around investment decisions by publishing business cases for major projects and programmes. These changes, set out in the 10-Year Infrastructure Strategy, will support better value for money and more consistent, reliable delivery across major infrastructure projects.
Darren Jones
Chief Secretary to the Treasury
4th Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 30 June 2025 to Question 62537 on Crown Estate: Northern Ireland, for what reason the rent income received from public authorities in Northern Ireland was higher in 2020 than any of the dates listed.

The higher rental income received from public authorities in Northern Ireland in 2020, compared to the years listed in the response to Question 62537, was due to a one-off backdated rent payment. Specifically, in 2020, a backdated rent invoice was issued covering the period from 1 January 2000 to 5 April 2020. This resulted in a significant uplift in reported income for that year.

Darren Jones
Chief Secretary to the Treasury
4th Jul 2025
To ask the Chancellor of the Exchequer, how many exemptions have been approved for Permanent Secretary remuneration to exceed the band maximum since 4 July 2024.

Since 4th July 2024, two Permanent Secretary roles have been approved to exceed the Permanent Secretary pay band.

Darren Jones
Chief Secretary to the Treasury
25th Jun 2025
To ask His Majesty's Government whether the £50 million of funding they have committed to the Gaelic Athletic Association for the redevelopment of the Casement Park stadium has any clawback or repayment conditions attached.

The UK Government has provided £50m of Capital Financial Transactions funding to redevelop Casement Park. While the UK Government will continue to work with the Northern Ireland Executive, it is up to the Executive to design and implement the Financial Transaction. The Financial Transaction will be provided to the Executive on a net basis, it does not need to be repaid to the UK Government and the Executive can recycle any repayments indefinitely.

Lord Livermore
Financial Secretary (HM Treasury)
1st Jul 2025
To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact on (a) energy efficiency and (b) indoor air quality of adding mechanical ventilation with heat recovery systems to the list of energy saving materials eligible for the 0% VAT rate.

This Government is committed to improving the quality and sustainability of the country’s housing stock, through improvements such as low carbon heating, insulation, solar panels, and batteries. This will be vital to making the UK more energy resilient and meeting our 2050 Net Zero commitment.

Installations of qualifying energy-saving materials (ESMs) in residential accommodation and buildings used solely for a charitable purpose benefit from a temporary VAT zero rate until March 2027, after which they will revert to the reduced rate of VAT at five per cent.

The Government assesses whether to add ESMs to this relief by evaluating them against the following principles: the primary purpose of the technology must be to improve energy efficiency and reduce carbon emissions; and relieving the technology of VAT must be cost effective and align with broader VAT principles.

James Murray
Exchequer Secretary (HM Treasury)
1st Jul 2025
To ask the Chancellor of the Exchequer, whether her Department has a target for the number of staff it plans to employ over the period of the Spending Review.

The Department’s SR settlement of a 10% real terms reduction to admin budgets by 2028-29 means HM Treasury will need to get smaller, necessitating a reduction in resource in some areas. Headcount reductions will be subject to future business planning where the department will take decisions on how the savings will be delivered.

James Murray
Exchequer Secretary (HM Treasury)
3rd Jul 2025
To ask the Chancellor of the Exchequer, what steps she is taking to reduce the number of households relying on high-cost credit to meet living expenses.

The Financial Conduct Authority (FCA) is responsible for regulating the consumer credit sector. The FCA requires firms to carry out an assessment of the creditworthiness of a prospective borrower before entering into a regulated credit agreement with them. Under FCA rules, when undertaking creditworthiness assessments, firms must assess each customer’s creditworthiness by considering not just whether a customer will repay, but also the customer’s ability to repay affordably and without significantly affecting their wider financial situation.

The Government recognises that credit, when provided responsibly and affordably, can be crucial for people facing unexpected expenses or managing their cash flow. That is why, as part of its Financial Inclusion Strategy, the Government is committed to expanding access to affordable credit. The development of the Financial Inclusion Strategy is being informed by a committee of industry and consumer representatives I chair, ahead of its publication later this year. The access to credit workstream has been considered by a dedicated sub-committee which included financial services firms, credit unions and consumer representative organisations. The Committee has also been considering how to support individuals and households to build their financial resilience by increasing the level of emergency saving buffers in the UK.

In addition, the Government provides a range of debt advice services in England through the Money and Pensions Service (MaPS) to meet the needs of individuals in problem debt, including national and community-based services offering free-to-client debt advice.

Emma Reynolds
Economic Secretary (HM Treasury)
1st Jul 2025
To ask the Chancellor of the Exchequer, what proportion of the increased funding for employment support will be allocated to the hospitality sector in coastal towns.

The Pathways to Work Green Paper made clear that the additional funding for employment support is aimed at all disabled people and people with health conditions claiming out of work benefits, who want help to get into or return to work.

James Murray
Exchequer Secretary (HM Treasury)
1st Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 June 2025 to Question 54866 on Alcoholic Drinks, if she will remove the exclusion of the direct manufacture of alcoholic beverages from paragraph 2.12 of the UK Government Green Financing Framework.

The Green Financing Framework, published in 2021, explains how proceeds from green gilts and NS&I’s retail Green Savings Bonds will finance public expenditures that demonstrate a direct and positive environmental impact.

The Framework includes guidelines on the types of expenditures that can be included in the Programme. Eligible expenditures are drawn from departments’ confirmed Spending Review settlements and assessed on the basis of their contribution to the government’s climate and environmental objectives.

The Framework excludes financing of the direct manufacture of alcoholic beverages, alongside other named exclusions, in line with international convention and investor expectations for green bond frameworks. This approach enables the UK’s green gilts to be accessible to the greatest possible pool of investors, improving value-for-money.

Emma Reynolds
Economic Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the implications for her policies of UK hospitality's press release entitled, One third of hospitality businesses now operating at a loss, published 2 June 2025.

The Government is committed to supporting the hospitality sector. That is why we have launched a licensing taskforce to make recommendations to cut red tape and remove barriers to business growth that exist within the UK’s licensing framework. The industry-led Taskforce has shared its findings with the Government, and we aim to update publicly by the summer.

The Government is also creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century. From April 2026, the Government intends to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with rateable values below £500,000. This permanent tax cut will ensure that the hospitality sector benefit from much-needed certainty and support.

The rates for these new business rate multipliers will be set at Budget 2025 so that the Government can take into account the upcoming revaluation outcomes as well as the economic and fiscal context.

We also recognise that RHL businesses will need support during the interim period for 2025/26, and so we are providing 40 per cent relief to RHL properties up to a cash cap of £110,000 per business. Without any government intervention, RHL relief would have ended entirely in April 2025, creating a cliff-edge for businesses.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of the business rates system on pub closures.

We are creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

From 2026-27, we intend to introduce permanently lower tax rates for retail, hospitality, and leisure properties with rateable values below £500,000, which will benefit almost all pubs in England. We will confirm the rates for these new multipliers at Budget 2025, taking account of the outcomes of the 2026 revaluation as well as the broader economic and fiscal context.

Until these new tax rates are introduced, in 2025-26, RHL businesses will receive a 40 per cent relief on their eligible properties up to a cash cap of £110,000 per business. Under the previous Government, RHL relief was due to end entirely in April 2025. By extending the relief, the Government has saved the average pub, with a ratable value of £16,800, over £3,300.

James Murray
Exchequer Secretary (HM Treasury)
2nd Jul 2025
To ask the Chancellor of the Exchequer, what recent assessment her Department has made of the potential impact of the standard 20% VAT rate on the international competitiveness of the (a) tourism and (b) hospitality sectors.

The Government recognises the significant contribution made by hospitality and tourism businesses to economic growth and social life in the UK.

VAT is a broad-based tax on consumption, and the 20 per cent standard rate applies to most goods and services. The UK’s VAT rate of 20 per cent is close to the OECD average of 19.3 per cent. The UK has a higher VAT registration threshold than any EU country and the joint highest in the OECD, at £90,000. This keeps the majority of businesses out of the VAT regime altogether.

James Murray
Exchequer Secretary (HM Treasury)
1st Jul 2025
To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 June 2025 to Question 56711 on Council tax: valuation, how many complaints have been made to (a) Tier 1 complaints process, (b) Tier 2 complaints process and (c) the Adjudicator's Office in relation delays in council tax banding appeals by the Valuation Office Agency in the last 12 months.

Between 1 July 2024 and 30 June 2025, the VOA received the following number of complaints about delays:

Tier 1 – 677

Tier 2 - 103

Adjudicator’s Office (Council Tax complaints)– 9

For context, on average the VOA deals with around 60,000 cases each year in England and Wales where customers wish to challenge their council tax band.

James Murray
Exchequer Secretary (HM Treasury)
30th Jun 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the adequacy of the VAT treatment of (a) shore power supplied to ships and (b) the services provided by contractors who connect or disconnect that supply; and if she will make it her policy to amend the Extra-Statutory Concessions for electricity to be a zero-rated marine fuel for VAT purposes.

VAT charged on electricity generated through shore power and supplied to ships can be recovered by businesses operating these ships subject to the normal rules of the tax.

Extra-Statutory Concessions (ESCs) are remissions of revenue that allow relief in specific sets of circumstances and are authorised when strict application of the law would create a disadvantage or the effect would not be the one intended. This does not apply to the rules that relate to the supply of electricity.

ESC 9.2 allows zero-rating of marine fuel as ships stores. It is limited to a specific set of rebated duty fuels (fuel oil, gas oil and kerosene) that qualified for zero-rating before July 1990. The Government has no plans to review or amend the scope of ESC 9.2.

James Murray
Exchequer Secretary (HM Treasury)
30th Jun 2025
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of changes to a residence-based inheritance tax system on the numbers of UK residents with permanent homes outside of the UK.

A supplementary forecast information release around the costings of reforms to the non-domicile regime, including the move to residence-based inheritance tax system, was published by the Office for Budget Responsibility in January 2025. This costing outlines the certified impact of ending the non-domiciled tax status on revenues to the Exchequer and the underlying behavioural assumptions.

https://obr.uk/docs/dlm_uploads/Non-doms-supplementary-release-Jan-2025.pdf

James Murray
Exchequer Secretary (HM Treasury)
25th Jun 2025
To ask His Majesty's Government what assessment they have made of economic data for 2023 issued by the International Monetary Fund and the Organisation for Economic Co-operation and Development showing that GDP per person in Germany was 15 per cent greater than in the United Kingdom, and that GDP per hour worked was 20 per cent greater; and whether they have identified any reasons for these disparities.

As was the case in many advanced economies, the UK experienced a slowdown in productivity growth following the Global Financial Crisis, but this was sharper than for our peers.

HM Treasury published analysis at the Budget in October 2024 [1] , showing that under the previous government UK productivity growth fell to the second slowest in the G7 – lower than France, Germany and the US. This is also reflected in national data collated by the IMF and the OECD.

The UK’s productivity gap with Germany is largely explained by lower levels of capital per worker and weaker total factor productivity.

Increasing productivity is vital in driving economic growth and improving the living standards of working people. That is why growth is the priority mission of this government and why we continue to take steps to boost productivity.

This includes increasing the capital envelope by over £100 billion at Autumn Budget 2024 and a further £13 billion at Spring Statement. Additional capacity announced at Spending Review 2025 and the 10 Year Infrastructure Strategy has allowed the government to increase the capacity of Public Financial Institutions by around 60% this Parliament, to £153 billion. We are also removing barriers to investment through ambitious planning reforms, and championing growth-enhancing sectors through our modern Industrial Strategy.


[1] Box 1.A UK growth performance since the GFC - Autumn Budget 2024 – HC 295

Lord Livermore
Financial Secretary (HM Treasury)
30th Jun 2025
To ask the Chancellor of the Exchequer, what assessment (a) her Department and (b) the Valuation Office Agency has made of the potential impact of changing the business rates valuation methodology for serviced offices from multiple hereditaments to a single hereditament model on (i) small businesses and (ii) flexible workspace operators.

Following developments in case law and legal advice, the VOA has reviewed its approach and concluded that most serviced offices will need to be assessed as a single property. The VOA has engaged with the sector and rating agents to discuss the approach to assessing serviced offices.

In line with legal obligations, the VOA is working through outstanding Checks and Challenges on serviced offices. For serviced offices that are new to the Rating List or subject to Checks and Challenges, the starting position is to treat them as a single assessment, unless there is clear evidence to support separate assessments. The VOA will apply the law to the facts on a case-by-case basis.

James Murray
Exchequer Secretary (HM Treasury)
30th Jun 2025
To ask the Chancellor of the Exchequer, what consultation (a) her Department and (b) the Valuation Office Agency undertook with the (i) flexible workspace sector and (ii) representatives of small businesses prior to concluding that most serviced offices should be assessed as a single property for business rates purposes.

Following developments in case law and legal advice, the VOA has reviewed its approach and concluded that most serviced offices will need to be assessed as a single property. The VOA has engaged with the sector and rating agents to discuss the approach to assessing serviced offices.

In line with legal obligations, the VOA is working through outstanding Checks and Challenges on serviced offices. For serviced offices that are new to the Rating List or subject to Checks and Challenges, the starting position is to treat them as a single assessment, unless there is clear evidence to support separate assessments. The VOA will apply the law to the facts on a case-by-case basis.

James Murray
Exchequer Secretary (HM Treasury)
30th Jun 2025
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of increases in (a) National Insurance Contributions and (b) the National Minimum Wage on food price inflation.

It is in the remit of the Low Pay Commission, who advise the Government on the minimum wage rates, to consider the impact of changes to the minimum wage on inflation, alongside the wider economy and the labour market. The Government knows that employers respond to increases in minimum wage rates in a range of ways, but existing evidence finds that the impact on inflation is small.

Additionally, assessments made by the Office for Budget Responsibility (OBR) in March 2025 suggest that policy changes made at the 2024 Autumn Budget will lead to very small increases in CPI inflation, increasing the price level by less than 0.1 per cent by the end of the parliament. Throughout the forecast period, the OBR expect CPI inflation to remain close to the 2 per cent target. The OBR does not publish estimates of the impact of policy changes on food price inflation.

James Murray
Exchequer Secretary (HM Treasury)
26th Jun 2025
To ask His Majesty's Government, further to the Written Answer by Lord Livermore on 18 June (HL8163), what steps they are taking to ensure that Mastercard provides details of the compensation scheme in an effective and timely way.

In May, the Competition Appeal Tribunal approved a settlement which would allow consumers to claim compensation in relation to historical card fees. This is a settlement between those claimants that brought the case and Mastercard, in which government is not involved.

Lord Livermore
Financial Secretary (HM Treasury)