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

Rishi Sunak
Chancellor of the Exchequer

Shadow Ministers / Spokeperson
Labour
Rachel Reeves (LAB - Leeds West)
Shadow Chancellor of the Exchequer

Liberal Democrat
Baroness Kramer (LDEM - Life peer)
Liberal Democrat Lords Spokesperson (Treasury and Economy)
Christine Jardine (LDEM - Edinburgh West)
Liberal Democrat Spokesperson (Treasury)

Scottish National Party
Alison Thewliss (SNP - Glasgow Central)
Shadow SNP Spokesperson (Treasury)

Democratic Unionist Party
Sammy Wilson (DUP - East Antrim)
Shadow DUP Spokesperson (Treasury)

Labour
Lord Tunnicliffe (LAB - Life peer)
Shadow Spokesperson (Treasury)

Plaid Cymru
Ben Lake (PC - Ceredigion)
Shadow PC Spokesperson (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Scottish National Party
Peter Grant (SNP - Glenrothes)
Shadow SNP Deputy Spokesperson (Treasury - Chief Secretary)

Labour
Bridget Phillipson (LAB - Houghton and Sunderland South)
Shadow Chief Secretary to the Treasury
James Murray (LAB - Ealing North)
Shadow Financial Secretary (Treasury)

Scottish National Party
Richard Thomson (SNP - Gordon)
Shadow SNP Deputy Spokesperson (Treasury - Financial Secretary)
Junior Shadow Ministers / Deputy Spokesperson
Labour
Pat McFadden (LAB - Wolverhampton South East)
Shadow Economic Secretary (Treasury)
Abena Oppong-Asare (LAB - Erith and Thamesmead)
Shadow Exchequer Secretary (Treasury)
Ministers of State
John Glen (CON - Salisbury)
Minister of State (Treasury) (City)
Simon Clarke (CON - Middlesbrough South and East Cleveland)
Chief Secretary to the Treasury
Michael Ellis (CON - Northampton North)
Paymaster General
Lucy Frazer (CON - South East Cambridgeshire)
Financial Secretary (HM Treasury)
Lord Agnew of Oulton (CON - Life peer)
Minister of State (HM Treasury)
Parliamentary Under-Secretaries of State
John Glen (CON - Salisbury)
Economic Secretary (HM Treasury)
Helen Whately (CON - Faversham and Mid Kent)
Exchequer Secretary (HM Treasury)
Scheduled Event
Wednesday 20th October 2021
14:00
Treasury Committee - Oral evidence - Select & Joint Committees
20 Oct 2021, 2 p.m.
Jobs, growth, and productivity after coronavirus
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Scheduled Event
Monday 25th October 2021
HM Treasury
Legislation - Grand Committee
Critical Benchmarks (References and Administrators' Liability) Bill [HL] – committee stage
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Scheduled Event
Tuesday 2nd November 2021
HM Treasury
Legislation - Main Chamber
Critical Benchmarks (References and Administrators' Liability) Bill [HL] – report stage – Lord Agnew of Oulton
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Scheduled Event
Tuesday 2nd November 2021
11:30
HM Treasury
Oral questions - Main Chamber
2 Nov 2021, 11:30 a.m.
HM Treasury (including Topical Questions)
Save to Calendar
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Debates
Wednesday 13th October 2021
Select Committee Docs
Thursday 7th October 2021
00:00
Select Committee Inquiry
Monday 9th November 2020
Work of the Financial Ombudsman Service

As part of its ongoing scrutiny of the Financial Ombudsman Service (FOS), the Treasury Committee holds hearings with the Chief …

Written Answers
Monday 18th October 2021
Air Pollution: Taxation
To ask the Chancellor of the Exchequer, whether he plans to introduce taxes on air pollutants produced by industry.
Secondary Legislation
Friday 15th October 2021
Packaged Retail and Insurance-based Investment Products (UCITS Exemption) (Amendment) Regulations 2021
These Regulations amend Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on …
Bills
Wednesday 8th September 2021
Health and Social Care Levy Bill 2021-22
A Bill to make provision imposing a tax (to be known as the health and social care levy), the proceeds …
Dept. Publications
Friday 15th October 2021
12:55

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
Sep. 07
Oral Questions
Sep. 23
Written Statements
Sep. 15
Westminster Hall
Sep. 15
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 2019 Parliament

Introduced: 30th June 2021

A Bill to authorise the use of resources for the year ending with 31 March 2022; 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 2021.

This Bill received Royal Assent on Monday 19th July 2021 and was enacted into law.

Introduced: 9th March 2021

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on Thursday 10th June 2021 and was enacted into law.

Introduced: 21st October 2020

A Bill to make provision about financial services and markets; to make provision about debt respite schemes; to make provision about Help-to-Save accounts; and for connected purposes.

This Bill received Royal Assent on Thursday 29th April 2021 and was enacted into law.

Introduced: 9th March 2021

A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.

This Bill received Royal Assent on Monday 15th March 2021 and was enacted into law.

Introduced: 10th March 2021

A Bill to authorise the use of resources for the years ending with 31 March 2019, 31 March 2020, 31 March 2021 and 31 March 2022; to authorise the issue of sums out of the Consolidated Fund for the years ending 31 March 2020, 31 March 2021 and 31 March 2022; and to appropriate the supply authorised by this Act for the years ending with 31 March 2019, 31 March 2020 and 31 March 2021.

This Bill received Royal Assent on Monday 15th March 2021 and was enacted into law.

Introduced: 4th February 2021

A Bill to make provision for payments to or in respect of Ministers and holders of Opposition offices on maternity leave.

This Bill received Royal Assent on Monday 1st March 2021 and was enacted into law.

Introduced: 8th December 2020

A Bill to make provision (including the imposition and regulation of new duties of customs) in connection with goods in Northern Ireland and their movement into or out of Northern Ireland; to make provision amending certain enactments relating to value added tax, excise duty or insurance premium tax; to make provision in connection with the recovery of unlawful state aid in relation to controlled foreign companies; and for connected purposes.

This Bill received Royal Assent on Thursday 17th December 2020 and was enacted into law.

Introduced: 9th July 2020

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Introduced: 13th July 2020

A Bill to make provision to reduce for a temporary period the amount of stamp duty land tax chargeable on the acquisition of residential property.

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Introduced: 17th March 2020

A Bill to grant certain duties, to alter other duties, and to amend the law relating to the national debt and the public revenue, and to make further provision in connection with finance.

This Bill received Royal Assent on Wednesday 22nd July 2020 and was enacted into law.

Introduced: 24th March 2020

A Bill to make provision increasing the maximum capital of the Contingencies Fund for a temporary period.

This Bill received Royal Assent on Wednesday 25th March 2020 and was enacted into law.

Introduced: 2nd March 2020

A Bill to authorise the use of resources for the years ending with 31 March 2020 and 31 March 2021; 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 year ending with 31 March 2020.

This Bill received Royal Assent on Monday 16th March 2020 and was enacted into law.

HM Treasury - Secondary Legislation

These Regulations amend Regulation (EU) No 1286/2014 of the European Parliament and of the Council of 26 November 2014 on key information documents for packaged retail and insurance-based investment products (PRIIPs) (PRIIPs Regulation). They extend an existing exemption for management and investment companies and persons advising on, or selling, Undertakings for Collective Investment in Transferable Securities (UCITS) funds from the requirements of the PRIIPs Regulation. The current exemption is being extended by five years to 31st December 2026.
This Order amends the Financial Services and Markets Act 2000 (Exemption) Order 2001 (S.I. 2001/1201) (“the Principal Order”).
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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Petition Debates Contributed

Extending the Stamp Duty Holiday for an additional 6 months will assist many buyers who are looking to move to a property that they will not be able to afford otherwise.
This will help to stabilise the housing market

The government is helping private firms to protect jobs by paying up to 80% of staff wages through this crisis. If it can do this why can it not help key workers who will be putting themselves/their families at risk and working extra hard under extremely challenging and unprecedented circumstances.

Being the first to close and still no clue as to when we can open, this seasonal industry is losing its summer profits that allows them to get through the first quarter of next year.

Even if we are allowed to open in December, 1 months profit won't be enough to keep us open in 2021. We need help

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
Mel Stride Portrait
Mel Stride (Conservative - Central Devon)
Treasury Committee Chair since 27th January 2020
Alison Thewliss Portrait
Alison Thewliss (Scottish National Party - Glasgow Central)
Treasury Committee Member since 2nd March 2020
Julie Marson Portrait
Julie Marson (Conservative - Hertford and Stortford)
Treasury Committee Member since 2nd March 2020
Angela Eagle Portrait
Angela Eagle (Labour - Wallasey)
Treasury Committee Member since 2nd March 2020
Felicity Buchan Portrait
Felicity Buchan (Conservative - Kensington)
Treasury Committee Member since 2nd March 2020
Anthony Browne Portrait
Anthony Browne (Conservative - South Cambridgeshire)
Treasury Committee Member since 2nd March 2020
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Member since 2nd March 2020
Steve Baker Portrait
Steve Baker (Conservative - Wycombe)
Treasury Committee Member since 2nd March 2020
Rushanara Ali Portrait
Rushanara Ali (Labour - Bethnal Green and Bow)
Treasury Committee Member since 2nd March 2020
Siobhain McDonagh Portrait
Siobhain McDonagh (Labour - Mitcham and Morden)
Treasury Committee Member since 11th May 2020
Emma Hardy Portrait
Emma Hardy (Labour - Kingston upon Hull West and Hessle)
Treasury Committee Member since 20th April 2021
Treasury Committee: Upcoming Events
Treasury Committee - Oral evidence
Jobs, growth, and productivity after coronavirus
20 Oct 2021, 2 p.m.
At 2.15pm: Oral evidence
George Dibb - Head of the Centre for Economic Justice at Institute for Public Policy Research
Sir Geoffrey Owen - Head of Industrial Policy at Policy Exchange

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Treasury Committee: Previous Inquiries
Spring Budget 2020 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 UK Customs Policy Infrastructure Appointment of Andrew Bailey as Governor of the Bank of England Work of Government Actuary’s Department Work of the Financial Ombudsman Service 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

23rd Sep 2021
To ask the Chancellor of the Exchequer, if he will publish the (a) forecasted expenditure and (b) actual expenditure for the tax-free childcare scheme for financial year 2020-21.

At the Spring 2020 budget, the forecast expenditure for Tax-Free Childcare in 2020/21 was £0.34bn. Tax-Free Childcare expenditure in 2020/21 was £0.24bn.
Simon Clarke
Chief Secretary to the Treasury
22nd Sep 2021
To ask the Chancellor of the Exchequer, whether he plans to include the Western Rail Link to Heathrow in the upcoming Spending Review.

The Spending Review will set UK Government departments’ resource and capital budgets for the next 3 years (2022-23 to 2024-25) and devolved administrations’ block grants for the same period. The Spending Review will conclude on 27th October alongside the Autumn Budget 2021.

Simon Clarke
Chief Secretary to the Treasury
23rd Sep 2021
To ask the Chancellor of the Exchequer, when he plans to respond to the letter from the hon. Member for East Londonderry dated 4 August 2021 regarding preferred locations for the establishing of a Freeport facility in Northern Ireland.

The Treasury has no record of receiving the letter of 4 August from the Hon Member regarding the creation of Freeports across the UK and the need for Northern Ireland to be included in this proposal, listing preferred locations. An email was received on 17 September from the Hon member’s parliamentary office with a copy of the letter attached. I responded on 27 September.

Simon Clarke
Chief Secretary to the Treasury
22nd Sep 2021
To ask the Chancellor of the Exchequer, whether he plans to introduce taxes on air pollutants produced by industry.

The UK has been at the forefront of reducing industrial pollution. In January 2021, the UK launched its own Emissions Trading Scheme (ETS) to replace membership of the EU ETS. The UK ETS already puts a price on carbon emissions from energy intensive industries, as well as from power generation and some aviation, including domestic, UK-EEA, and UK-Gibraltar flights.

The UK also has a strong and proportionate regulatory framework in place to require industry to reduce emissions and industry has responded with investment and innovation to meet these standards. Regulations such as the Environmental Permitting (England and Wales) Regulations 2016 play an important role in ensuring regulators and industry work together effectively to reduce pollution through a robust licensing and permitting regime. The Government recently consulted on creating a best available techniques process for the UK in which industry and regulators will reduce emissions by setting new standards for complex industrial processes.

Helen Whately
Exchequer Secretary (HM Treasury)
23rd Sep 2021
To ask the Chancellor of the Exchequer, with reference to the oral contribution of the Deputy Prime Minister of 22 September 2021, Official Report, Column 277, that Chevening is funded by a charity and not the public purse, whether that charity has received any funding through the Gift Aid scheme in each of the last ten years.

HM Revenue and Customs has a statutory duty to maintain taxpayer confidentiality, and cannot comment on the affairs of individual organisations.

Helen Whately
Exchequer Secretary (HM Treasury)
22nd Sep 2021
To ask the Chancellor of the Exchequer, whether he has had recent discussions with Ministerial colleagues on incentivising (a) an improvement in the performance of incineration through taxation and (b) the improvement of waste management generally.

In the Resources and Waste Strategy 2018, the government set out that incineration currently plays a significant role in waste management in the UK, and that the government expects this to continue. However, in the long term the government wants to maximise the amount of waste sent to recycling instead of incineration and landfill. As set out at Budget 2018, should wider policies not deliver the government’s waste ambitions in the future, it will consider the introduction of a tax on the incineration of waste, operating in conjunction with landfill tax, taking account of the possible impacts on local authorities. All tax policy is kept under review. The government also maintains and develops tax policies to support effective waste management, including the existing Landfill Tax and the world leading Plastic Packaging Tax which will be introduced from April 2022.

The government is committed to the improving of waste management and set out the Waste Management Plan for England 2021 earlier this year. Further detail available at: https://www.gov.uk/government/publications/waste-management-plan-for-england-2021

Helen Whately
Exchequer Secretary (HM Treasury)
22nd Sep 2021
To ask the Chancellor of the Exchequer, if she will make it her policy to reconsider the cessation of the temporary universal credit £20 uplift in response to the impact on household finances of rising energy prices.

The Government has always been clear that the £20 per week increase to Universal Credit was a temporary measure to support households whose incomes and earnings were affected by the economic shock of Covid-19. Now that the economy has reopened, the Government is focusing on supporting people to move into and progress in work


The Government is committed to supporting low-income families with the cost of living including with their energy bills through the Warm Home Discount, Winter Fuel Payments and Cold Weather Payments. The Energy Price Cap is also in place to protect millions of customers from the sudden increases in global gas prices this winter. Despite the rising costs of wholesale energy, the cap still saves 15 million households up to £100 a year.

The Government has also recently announced the £500 million Household Support Fund which will support vulnerable households with essentials over winter as we enter the final stages of recovery from the pandemic.

Simon Clarke
Chief Secretary to the Treasury
22nd Sep 2021
To ask the Chancellor of the Exchequer, what recent discussions officials in his Department have had with local leaders in the West Midlands on the Integrated Rail Plan.

The government is committed to providing better rail connectivity between London, the Midlands and the North. The Treasury works closely with the Department for Transport to understand local leaders’ views on the Integrated Rail Plan, which will soon set out how best to scope, sequence and integrate Northern Powerhouse Rail, HS2 Phase 2b and other major Network Rail programmes.

The West Midlands will benefit significantly from Phase One of High Speed 2, which will cut journey times between Birmingham and London to less than 50 minutes. Budget 2021 also included £50m to develop proposals for transport improvements around the HS2 Interchange station to help support local regeneration.

Simon Clarke
Chief Secretary to the Treasury
21st Sep 2021
To ask the Chancellor of the Exchequer, what assessment his Department has made of the potential merits of further increasing the probate limit.

The Government has made no recent assessment in relation to the effect of increasing the probate limit. In most circumstances the provision of a bank’s services, including the administration around bereavement, are a commercial decision for the bank. The Government does not intervene in these decisions.

The treatment of customers by UK banks and building societies which are regulated by the Financial Conduct Authority (FCA) is governed by its Principles of Business. This includes a general requirement for firms to provide a prompt, efficient and fair service to all their customers, including those who have recently suffered a bereavement. The FCA does not have specific rules or guidance regarding probate in its rules. However, all firms regulated by the FCA are bound by its Principles which apply to the way banks and building societies conduct themselves. This includes how they handle probate.

The main current account providers also publish information about the additional services they offer consumers, including information on the bereavement services they offer. More information can be found on the FCA website: https://www.fca.org.uk/data/mandated-voluntary-information-current-account-services/providers-links#voluntary

The Government remains supportive of previous industry efforts to improve handling of these sensitive cases, including the implementation of the British Bankers’ Association’s (now known as UK Finance) Bereavement Principles. These Principles include a commitment from firms to provide support to meet individuals’ needs throughout the bereavement process and to work to resolve everything as quickly and simply as possible.

John Glen
Economic Secretary (HM Treasury)
14th Sep 2021
To ask Her Majesty's Government, further to the Financial Conduct Authority's finding on 10 August that a pensions adviser was “seriously incompetent” in his work providing advice to 183 members of the British Steel Pension Scheme, what plans they have to set up an industry-wide redress scheme for steelworkers given poor pension transfer advice.

This is an operational matter for the Financial Conduct Authority (FCA), who are operationally independent from Government.

The question has been passed on to the FCA who will reply directly to the Noble Lord by letter. A copy of the letter will be placed in the Library of the House.
Lord Agnew of Oulton
Minister of State (HM Treasury)
14th Sep 2021
To ask Her Majesty's Government when they intend to begin the consultation on the regulation of buy-now-pay-later services, announced following the Woolard Review – A review of change and innovation in the unsecured credit market, published on 2 February.

On 2 February, the Government announced its intention to regulate Buy-Now-Pay-Later products. On 17 March, the Government tabled an amendment to the Financial Services Bill (now Act) to allow the Government to bring Buy-Now-Pay-Later products into the scope of FCA regulation in a proportionate way. The Government is now working to publish a consultation document soon.

Lord Agnew of Oulton
Minister of State (HM Treasury)
14th Sep 2021
To ask Her Majesty's Government, further to a Freedom of Information request by Schools Week (FOI2021/11434), when they expect the Infrastructure Projects Authority to publish the full data collection of Private Finance Initiative Projects for (1) 2019, and (2) 2020.

The 2019 data will be published this Autumn. A data collection was not undertaken in 2020. The 2021 data collection will commence shortly and be published in early 2022.

Lord Agnew of Oulton
Minister of State (HM Treasury)
14th Sep 2021
To ask Her Majesty's Government what plans they have to extend the furlough scheme for industries affected by COVID-19.

The Coronavirus Job Retention Scheme was designed as a temporary, economy-wide measure to support businesses while widespread restrictions were in place. Closing the scheme at the end of September strikes the right balance between supporting the economy as it opens up, continuing to provide support and protect incomes, and ensuring incentives are in place to get people back to work as demand returns. As set out in the Plan for Jobs Progress Update published on 13 September 2021, this approach has worked. The OBR have estimated that without the short-term fiscal easing announced in the Budget, and in particular the CJRS extension, unemployment would have otherwise been around 300,000 higher in the fourth quarter of this year than the 2.2 million in the central forecast.

The Government has shown throughout the pandemic that it is prepared to adapt support if the path of the virus changes. We continue to engage closely with sectors across the economy to understand their recovery horizons as the vaccine is rolled out and restrictions ease.

Lord Agnew of Oulton
Minister of State (HM Treasury)
14th Sep 2021
To ask Her Majesty's Government what estimate they have made of the potential revenue of introducing a windfall tax on companies supplying (1) PPE, and (2) private COVID-19 tests.

It is right that, as the economy rebounds, those best able to contribute share in the task of restoring the public finances to a sustainable footing.

That is why, at Budget, the Chancellor announced an increase in the Corporation Tax (CT) rate from 19 per cent to 25 per cent from 2023 onwards. This will, by definition, only apply to companies that are making profits, and profitable businesses have continued to pay CT throughout the pandemic.

Lord Agnew of Oulton
Minister of State (HM Treasury)
14th Sep 2021
To ask Her Majesty's Government what steps they plan to take to communicate to the taxpayer the economic costs of public sector pensions.

Public service pensions are a crucial part of the total remuneration package for public sector workers, this includes the current OBR estimate of a £1.9 bn Exchequer top-up payment for 2020-21 and £1.89 tn in liabilities. The Government pays close attention to the cost of public service pensions to the taxpayer, forecasts of which are regularly published by the OBR on a cashflow basis in its Economic and Fiscal Outlook[1] and Fiscal Sustainability Report[2]. Information on long-term public service pension liabilities can be found in the Whole of Government Accounts[3].

[1] https://obr.uk/efo/economic-and-fiscal-outlook-march-2021/

[2] https://obr.uk/fsr/fiscal-sustainability-report-july-2018/

[3] https://www.gov.uk/government/publications/whole-of-government-accounts-2018-2019

Lord Agnew of Oulton
Minister of State (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what support he plans to provide to people who are trapped on high standard variable rates.

Following the Financial Conduct Authority's (FCA) Mortgage Market Study, an industry voluntary agreement was enacted to help borrowers on reversion rates who are up to date with payments but don't meet the affordability criteria required to switch to a new deal. This means that participating lenders will offer eligible borrowers the ability to switch to an alternative product.

The Government has also undertaken significant work to understand the circumstances of borrowers whose mortgages are held by inactive firms (which are not able to offer alternative products) and don’t meet the affordability requirements or risk appetite to switch to a new lender. The Government has worked with the FCA to create additional options for these borrowers, including through the introduction of a Modified Affordability Assessment which allows mortgage lenders to waive the normal affordability checks for borrowers with inactive firms who meet certain criteria, such as not wishing to borrow more.

The FCA is reviewing its data to provide further detail on the characteristics of borrowers who have mortgages with inactive firms and are unable to switch, despite being up to date with payments. The FCA is also reviewing the effect of its interventions to remove regulatory barriers to switching and will report on this by the end of November. The Treasury will use the results of this review to establish whether there are any further practical and proportionate solutions that can be found for affected borrowers.

John Glen
Economic Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what assessment he has made of the adequacy of the description of the legal meaning of a duty of care set out in the FCA consultation proposing a new consumer duty, published on 14 May 2021.

The Government is committed to ensuring financial services consumers are appropriately protected.

In accordance with the requirements set out in the Financial Services Act 2021, the Financial Conduct Authority (FCA) published a consultation on 14 May 2021 proposing a new ‘Consumer Duty’. The Consumer Duty seeks to clarify and raise expectations for the standard of care that should be provided by financial services firms to consumers. This aims to ensure consumers benefit from a higher level of care from financial services firms.

As set out in paragraph 2.31 of the FCA’s consultation paper, the consultation’s proposals have been specifically designed to meet the requirements of the Financial Services Act 2021. The FCA, as an operationally independent regulator, is responsible for carrying out the consultation and for making any new rules which it considers appropriate following the consultation. It would therefore be inappropriate for the Government to comment further on the specifics of the consultation’s proposals.
John Glen
Economic Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what assessment he has made of the potential effectiveness of the consumer duty proposed by the Financial Conduct Authority in their 14 May 2021 consultation on meeting the objective of consumers being owed a duty of care by authorised persons as required by section 29 of the Financial Services Act 2021.

The Government is committed to ensuring financial services consumers are appropriately protected.

In accordance with the requirements set out in the Financial Services Act 2021, the Financial Conduct Authority (FCA) published a consultation on 14 May 2021 proposing a new ‘Consumer Duty’. The Consumer Duty seeks to clarify and raise expectations for the standard of care that should be provided by financial services firms to consumers. This aims to ensure consumers benefit from a higher level of care from financial services firms.

As set out in paragraph 2.31 of the FCA’s consultation paper, the consultation’s proposals have been specifically designed to meet the requirements of the Financial Services Act 2021. The FCA, as an operationally independent regulator, is responsible for carrying out the consultation and for making any new rules which it considers appropriate following the consultation. It would therefore be inappropriate for the Government to comment further on the specifics of the consultation’s proposals.
John Glen
Economic Secretary (HM Treasury)
13th Sep 2021
To ask Her Majesty's Government what plans they have, if any, to make the Financial Conduct Authority responsible for tracking whether businesses accept cash money across the economy.

The Government recognises that cash remains important to millions of people across the UK.

On 1 July, the Government published the Access to Cash Consultation, seeking views on legislative proposals to protect cash access for the long term. The Government’s proposals include making the Financial Conduct Authority the lead regulator for oversight of the retail cash system. The FCA responsibilities would extend to monitoring and enforcing cash access requirements, assessing cash access needs and demands over time, and monitoring the geographic spread of cash access points across the UK.

This builds on legislative changes made by Government as part of the Financial Services Act 2021 to support the widespread offering of cashback without a purchase by shops and other businesses. The financial services industry is already seeking to take advantage of these changes to the benefit of cash users; working with retailers to get this service rolled out to local communities.

In July, the FCA published updated evidence on cash access. This included research on cash acceptance by small and medium-sized enterprises (SMEs), which found that the primary motivation for accepting cash is to provide customers with choice. Nearly all (98%) of surveyed businesses stated they would never turn away a customer if they needed to pay by cash.

Lord Agnew of Oulton
Minister of State (HM Treasury)
17th Sep 2021
To ask the Chancellor of the Exchequer, how many and what proportion of applications under the Alcohol Warehouse Registration Scheme since that scheme's introduction have been (a) approved and (b) revoked in (i) Scotland and (ii) the UK.

This information is not held in the form requested as HM Revenue and Customs does not record Alcohol Warehouse Registration Scheme (AWRS) data by ‘nation’.

AWRS Data showing the number of applications received and numbers approved up to April 2019 was published on 10th June 2021 and is available at: https://www.gov.uk/government/publications/tackling-alcohol-smuggling-outputs/tackling-alcohol-smuggling-outputs-april-2016-to-april-2019.

Data up to April 2021 will be published in the normal way in October 2021.

Please note the numbers for approved and revoked applications do not total the number of applications received. The reason for this is because withdrawals, deregistrations and stock on hand have not been included.

For Scotland:

Applications received 1343

Applications approved 980 (73%)

Applications revoked 24 (2%)

For the UK:

Applications received 15410

Applications approved 10880 (71%)

Applications revoked 546 (4%)

Helen Whately
Exchequer Secretary (HM Treasury)
13th Sep 2021
To ask Her Majesty's Government what plans they have to support the Crypto Climate Accord initiative ahead of COP26; and what steps they plan to take to build support among the UK (1) crypto, and (2) fintech, industries for the cryptocurrency sector to be powered by 100 per cent renewable energy sources.

The Government’s private finance objective for the upcoming COP26 climate change forum is to ensure that every professional financial decision takes climate change into account. The recovery from COVID-19 will determine the mitigation and adaptation pathways for decades to come.

The finance campaign will provide the conditions for a future that is genuinely greener, more resilient and more sustainable than the past. Action on finance underpins all the other COP campaigns: adaptation and resilience, energy transition, nature and zero-emission vehicles. Without the right levels of finance, the rest is not possible.

The Government has already taken action to ensure the UK is the world-leading centre for green finance including through announcing an intention to make disclosures aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) fully mandatory across the economy by 2025, making the UK the first country to do so.

Additionally, the Government has committed to the implementation of a green taxonomy.  This will allow us to accelerate our work towards a greener financial sector, by providing a common definition for environmentally sustainable economy activities.

The Cryptoasset Taskforce, comprising HM Treasury, the Financial Conduct Authority, and the Bank of England, considers the impact of cryptoassets and assesses what, if any, regulation is required in response. The Government has been monitoring developments within the cryptoasset industry, including rising energy usage.

The Government is committed to upholding its pledge relating to the Paris Climate Agreement and have enacted a legally binding target to reach net zero greenhouse gas emissions by 2050. Between 1990 and 2018, the UK reduced its emissions by 43% while growing the economy by 75% – the best performance in the G7 on a per person basis and will continually assess any emerging environmental threats.

Lord Agnew of Oulton
Minister of State (HM Treasury)
13th Sep 2021
To ask Her Majesty's Government whether managing the high energy impact of cryptocurrencies will be on the agenda at COP26.

The Government’s private finance objective for the upcoming COP26 climate change forum is to ensure that every professional financial decision takes climate change into account. The recovery from COVID-19 will determine the mitigation and adaptation pathways for decades to come.

The finance campaign will provide the conditions for a future that is genuinely greener, more resilient and more sustainable than the past. Action on finance underpins all the other COP campaigns: adaptation and resilience, energy transition, nature and zero-emission vehicles. Without the right levels of finance, the rest is not possible.

The Government has already taken action to ensure the UK is the world-leading centre for green finance including through announcing an intention to make disclosures aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) fully mandatory across the economy by 2025, making the UK the first country to do so.

Additionally, the Government has committed to the implementation of a green taxonomy.  This will allow us to accelerate our work towards a greener financial sector, by providing a common definition for environmentally sustainable economy activities.

The Cryptoasset Taskforce, comprising HM Treasury, the Financial Conduct Authority, and the Bank of England, considers the impact of cryptoassets and assesses what, if any, regulation is required in response. The Government has been monitoring developments within the cryptoasset industry, including rising energy usage.

The Government is committed to upholding its pledge relating to the Paris Climate Agreement and have enacted a legally binding target to reach net zero greenhouse gas emissions by 2050. Between 1990 and 2018, the UK reduced its emissions by 43% while growing the economy by 75% – the best performance in the G7 on a per person basis and will continually assess any emerging environmental threats.

Lord Agnew of Oulton
Minister of State (HM Treasury)
17th Sep 2021
To ask the Chancellor of the Exchequer, how many and what proportion of responses received to the technical consultation on Small Brewers Relief were from (a) breweries producing less than 5,000 hectolitres a year, (b) breweries producing more than 5,000 hectolitres a year and (c) breweries producing more than 60,000 hectolitres a year.

We will publish our response to the technical consultation in due course. This will contain information on those who responded to the consultation.

Helen Whately
Exchequer Secretary (HM Treasury)
13th Sep 2021
To ask Her Majesty's Government what plans they have to change the regulation of insurer investment to encourage pension funds and insurers to back capital projects.

The Government wants to see a prudential regulatory regime for insurers that provides a sound foundation for insurance firms to provide long-term capital to the economy, including investment in long-term productive assets. In July 2021 the Government published its response to the Call for Evidence on Solvency II which set out the process by which this will be achieved.

In addition, the Government will shortly introduce new rules to eliminate unnecessary barriers to pension fund investment in long-term assets. This includes: the calculation of the default fund charge cap for automatic enrolment schemes; consolidation measures to be taken by schemes with less than £100m assets under management; and the publication of net returns.

The Treasury, the Bank of England and the Financial Conduct Authority have also convened the Productive Finance Working Group. This industry group has focused on facilitating pension fund investment in long-term assets. This has included work on the creation of the Long-Term Asset Fund structure, the rules for which will soon be finalised by the Financial Conduct Authority.

Lord Agnew of Oulton
Minister of State (HM Treasury)
13th Sep 2021
To ask Her Majesty's Government what plans they have to require UK (1) crypto, and (2) fintech, industries, to account for energy use in the production of digital currencies.

The Government has been monitoring developments within the cryptoasset industry, including rising energy usage.

The Cryptoasset Taskforce, comprising HM Treasury, the Financial Conduct Authority, and the Bank of England, considers the impact of cryptoassets and assesses what, if any, regulation is required in response. The Government stands ready to respond to emerging risks or changes in the market and will continue to monitor developments in cryptoassets.

In November 2020, the Chancellor announced that the UK will implement a green taxonomy – a common framework for determining which activities can be defined as environmentally sustainable – which will improve understanding of the impact of firms’ activities and investments on the environment and support our transition to a sustainable economy. More details on the green taxonomy will be announced in due course.

The Government has already taken action to ensure the UK is the world-leading centre for green finance including through announcing an intention to make disclosures aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) fully mandatory across the economy by 2025, making the UK the first country to do so.

The Government is committed to upholding its pledge relating to the Paris Climate Agreement and have enacted a legally binding target to reach net zero greenhouse gas emissions by 2050. Between 1990 and 2018, the UK reduced its emissions by 43% while growing the economy by 75% – the best performance in the G7 on a per person basis and will continually assess any emerging environmental threats.

Lord Agnew of Oulton
Minister of State (HM Treasury)
13th Sep 2021
To ask Her Majesty's Government what estimate they have made of the amount in tonnes of carbon dioxide equivalent emissions that cryptocurrencies were responsible for in (1) the UK, and (2) the world, over the last 12 months.

The Government has been monitoring developments within the cryptoasset industry, including rising energy usage.

The Cryptoasset Taskforce, comprising HM Treasury, the Financial Conduct Authority, and the Bank of England, considers the impact of cryptoassets and assesses what, if any, regulation is required in response. The Government stands ready to respond to emerging risks or changes in the market and will continue to monitor developments in cryptoassets.

In November 2020, the Chancellor announced that the UK will implement a green taxonomy – a common framework for determining which activities can be defined as environmentally sustainable – which will improve understanding of the impact of firms’ activities and investments on the environment and support our transition to a sustainable economy. More details on the green taxonomy will be announced in due course.

The Government has already taken action to ensure the UK is the world-leading centre for green finance including through announcing an intention to make disclosures aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) fully mandatory across the economy by 2025, making the UK the first country to do so.

The Government is committed to upholding its pledge relating to the Paris Climate Agreement and have enacted a legally binding target to reach net zero greenhouse gas emissions by 2050. Between 1990 and 2018, the UK reduced its emissions by 43% while growing the economy by 75% – the best performance in the G7 on a per person basis and will continually assess any emerging environmental threats.

Lord Agnew of Oulton
Minister of State (HM Treasury)
13th Sep 2021
To ask Her Majesty's Government what steps they are taking to account for the blockchain impact of cryptocurrency use in national emissions calculations; and how this relates to the UK's commitments under the Paris Agreement to the United Nations Framework Convention on Climate Change.

The Government has been monitoring developments within the cryptoasset industry, including rising energy usage.

The Cryptoasset Taskforce, comprising HM Treasury, the Financial Conduct Authority, and the Bank of England, considers the impact of cryptoassets and assesses what, if any, regulation is required in response. The Government stands ready to respond to emerging risks or changes in the market and will continue to monitor developments in cryptoassets.

In November 2020, the Chancellor announced that the UK will implement a green taxonomy – a common framework for determining which activities can be defined as environmentally sustainable – which will improve understanding of the impact of firms’ activities and investments on the environment and support our transition to a sustainable economy. More details on the green taxonomy will be announced in due course.

The Government has already taken action to ensure the UK is the world-leading centre for green finance including through announcing an intention to make disclosures aligned with the Taskforce on Climate-related Financial Disclosures (TCFD) fully mandatory across the economy by 2025, making the UK the first country to do so.

The Government is committed to upholding its pledge relating to the Paris Climate Agreement and have enacted a legally binding target to reach net zero greenhouse gas emissions by 2050. Between 1990 and 2018, the UK reduced its emissions by 43% while growing the economy by 75% – the best performance in the G7 on a per person basis and will continually assess any emerging environmental threats.

Lord Agnew of Oulton
Minister of State (HM Treasury)
16th Sep 2021
To ask the Chancellor of the Exchequer, what additional funding has been provided to the NHS as a result of the UK’s departure from the EU and statements made during the 2016 referendum campaign.

The NHS is a key spending priority for the government and that is why it committed in 2018 to a historic settlement that provides a cash increase of £33.9 billion a year by 2023-24. The announcement was clear that “some of the extra funding will come from the money the government will no longer spend on the annual membership subscription to the European Union after Britain has left”

Since then, we have gone even further, and announced a new Health and Social Care Levy which will provide a further £15.7bn to the NHS over the next 3 years.

Simon Clarke
Chief Secretary to the Treasury
15th Sep 2021
To ask the Chancellor of the Exchequer, what assessment he has made of the potential effect of the Health and Social Care Levy on working people drawing their state pension.

Alongside the announcement of the Health and Social Care Levy, the government has published a number of documents that set out the impact of the policy, including distributional analysis and a Tax Information and Impact Note.

Simon Clarke
Chief Secretary to the Treasury
17th Sep 2021
To ask the Chancellor of the Exchequer, if he will have discussions with the Secretary of State for Housing, Communities and Local Government on Community Led Housing in respect of the number of community led homes that could be built with £65 million of additional Government funding; if he will make it his Department's policy to increase the Community Housing Fund in the upcoming Spending Review; and if he will make a statement.

The Government recognises that the community-led housing sector offers significant potential for helping to meet housing need across the country. Discussions on the upcoming Spending Review will cover a range of important issues.

Simon Clarke
Chief Secretary to the Treasury
16th Sep 2021
To ask the Chancellor of the Exchequer, which companies have supplied Union Jack flags to his Department since 2019.

All Union flags purchased by the Treasury since January 2019 were manufactured in the UK.

Helen Whately
Exchequer Secretary (HM Treasury)
16th Sep 2021
To ask the Chancellor of the Exchequer, how many and what proportion of the Union Jack flags purchased by his Department in each of the last two years were manufactured in the UK.

All Union flags purchased by the Treasury since January 2019 were manufactured in the UK.

Helen Whately
Exchequer Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what estimate he has made of the number of UK citizens registered as overseas electors who have been liable for (a) UK Income Tax and (b) UK Capital Gains Tax in each of the last five financial years.

No estimate has been made of the information requested. HM Revenue and Customs (HMRC) cannot identify individuals registered as overseas electors within tax data.

Lucy Frazer
Financial Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what estimate he has made of the total tax receipts paid to the UK Exchequer by UK citizens registered as overseas electors in each of the last five financial years.

No estimate has been made of the information requested. HM Revenue and Customs (HMRC) cannot identify individuals registered as overseas electors within tax data.

Lucy Frazer
Financial Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, further to the Answer of 20 September 2021 to Question 49030 on UK Trade with EU, what proportion of importers of non-controlled goods from the EU have chosen to delay the submission of their customs declarations since 1 January 2021 up to the latest available date.

Ordinarily only traders or their agents who are authorised to use the simplified customs declaration process (SCDP), which allows them to make the declaration in their own records, can delay making a customs declaration to HMRC (and then only until the fourth working day of the following month). However, until 31 December 2021 most importers of non-controlled goods from the EU can choose to delay the submission of their customs declarations to HMRC for up to 175 days after import as part of the staged approach to customs controls (SCC).

HMRC’s understanding to date is that overall use of delayed declarations (whether under SCDP or as part of SCC) in 2021 so far has been high.

HMRC is receiving broadly the volume of declarations expected, and where declarations are being delayed, they are typically being submitted well within the 175-day window permitted by staged customs controls.

HMRC continues to monitor declarations closely, as well as supporting traders to prepare for the ending of staged customs controls delayed declarations on 1 January.

Lucy Frazer
Financial Secretary (HM Treasury)
15th Sep 2021
To ask the Chancellor of the Exchequer, if he will make an estimate of the number of people who were ineligible for Government covid-19 support and who will be subject to the Health and Social Care Levy.

Throughout the pandemic, the Government has sought to protect people’s jobs and livelihoods while also supporting businesses and public services across the UK.

To do this the Government has put in place an economic package of support totalling over £350 billion, including through the Coronavirus Job Retention Scheme, the Self-Employment Income Support Scheme, and a wide range of other support, such as loan schemes, business grants, business rates relief, VAT relief, mortgage holidays, and increased welfare support.

The Health and Social Care Levy Bill recently passed through the Commons. The Bill introduces a new, UK-wide 1.25 per cent ringfenced Health and Social Care Levy based on National Insurance Contributions (NICs) and paid by employers, employees and the self-employed. The Levy will be introduced from April 2022.

This Levy together with the equivalent increase in dividend tax rates will make available an additional £12 billion a year for the NHS and social care.

Lucy Frazer
Financial Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, whether he plans to review the planned increase to National Insurance in response to the increase in inflation to 3.2 per cent.

The government currently has no plans to review the introduction of the Health and Social Care Levy.

Lucy Frazer
Financial Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what plans he has to introduce a small wine producers duty relief for small vineyards in the UK similar to the small brewers relief.

The Government is considering the merits of extending small producer reliefs to other categories as part of its alcohol duty review. Further updates will be provided in our response to the alcohol duty review call for evidence in due course.

Helen Whately
Exchequer Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what forecast he has made of the level of revenues from fuel duties for each of the next five years.

The Office for Budget Responsibility (OBR) published its fuel duties forecast up to and including 2025-26, as part of its Economic and fiscal outlook in March 2021. This set out that fuel duties are estimated to reach £26.0bn in 2021-22, £29.2bn in 2022-23, £30.1bn in 2023-24, £30.6bn in 2024-25 and £31.2bn in 2025-26.

An updated forecast is expected to be published by the OBR on Wednesday 27 October.

Helen Whately
Exchequer Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what changes HMRC made to the process for registering occupational pension schemes in (a) 2006 and (b) 2014; and what the reasons were for those changes .

HMRC is responsible for registering pension schemes where they wish to benefit from the tax reliefs available to pensions.

As a result of pension tax simplification, pension scheme registration was moved to a new online digital system in 2006.

As part of a wider government response to concerns surrounding pension scams, in 2014 legislation was introduced to enable HMRC to refuse registration where the scheme administrators were not considered to be fit and proper.

John Glen
Economic Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what assessment he has made of the impact of the increase in inflation to 3.2 per cent on living standards.

CPI inflation in August was 3.2% having risen from low levels last year. The Bank of England expects the increase in inflation to be temporary, with inflation returning to its 2% target level through 2022 and 2023.

Since the operationally independent Bank of England took on responsibility for inflation, it has averaged around the 2% target. The Government remains committed to price stability.

We understand that higher prices increase the costs of living, and that is why this Government has taken direct action to help people manage the cost of living by increasing the National Living Wage, taken action on the cost of fuel and energy bills and increasing the Local Housing Allowance.

John Glen
Economic Secretary (HM Treasury)
20th Sep 2021
To ask the Chancellor of the Exchequer, what figures his Department holds on the amount spent by local authorities in England on helping to set up new business co-operatives.

The Government recognises the value of co-operatives. It is clear they offer a different way of running a business, supporting the needs of their members and their local communities.

HMT does not hold any data regarding the amount spent by local authorities in England on helping to set up new business co-operatives. Local authorities in England have significant freedoms to choose what investments to make and how to finance them.

John Glen
Economic Secretary (HM Treasury)
9th Sep 2021
To ask Her Majesty's Government what projections HMRC has made of the number of ATA Carnet applications it will need to process in (1) 2021/22, and (2) 2022/23.

When moving goods temporarily into or out of the UK, an ATA Carnet provides an option which can help simplify customs formalities by allowing a single document to be used for clearing goods through customs in the countries that are part of ATA Carnet system. The use of a carnet is optional and is a commercial decision depending on an individual or business’s specific circumstances. In the UK, ATA Carnets are administered by the London Chamber of Commerce and Industry (LCCI).

International travel has been severely affected by the COVID-19 pandemic and the number of goods movements using ATA Carnets has dropped. At the moment it is difficult to project numbers with any certainty. Numbers are likely to increase owing to the UK’s withdrawal from the EU and the gradual lifting of travel restrictions throughout the world. HMRC, in conjunction with the LCCI and Border Force, monitor ATA Carnet usage on a regular basis.

An alternative option to an ATA Carnet is the use of the Temporary Admission procedure in conjunction with Returned Goods Relief. Temporary Admission is a customs special procedure that may be used to temporarily import goods into the UK without payment of duties subject to relevant conditions being met.

Businesses and individuals returning goods to the UK, having temporarily imported them to another customs territory, can claim relief from import VAT and any customs duty under Returned Goods Relief providing specific conditions are met. Returned Goods Relief applies to goods exported from the UK and re-imported in an unaltered state.

The EU operates similar procedures therefore, for goods moving temporarily to the EU, the EU’s Temporary Admission procedure may be applicable, and the EU’s Returned Goods Relief may apply where goods are returned to the EU having been temporarily imported into the UK. The management of EU import and export procedures is the responsibility of the customs authorities of the EU Member States.

Lord Agnew of Oulton
Minister of State (HM Treasury)
9th Sep 2021
To ask Her Majesty's Government what assessment they have made of the impact of Treasury civil servants working from home; and what assessment they have made should civil servants choose to work from other countries.

HMT offices have remained open throughout the pandemic with access to staff for business and wellbeing reasons and our building health and safety assessment has been reviewed and updated during this period. Staff working from home have been supported through a number of measures, including homeworking Display Screen Equipment assessments to support their health and safety. HMT has been able to deliver its full agenda throughout this period.

HMT applies central Civil Service policy in relation to working from other countries.

Lord Agnew of Oulton
Minister of State (HM Treasury)
14th Sep 2021
To ask the Chancellor of the Exchequer, what estimate his Department has made of the amount the 1.25% increase in National Insurance Contributions will raise in the first year from 2022.

As set out in ‘Build Back Better: Our Plan for Health and Social Care’, the net revenue from the Health and Social Care Levy will be around £11.4 billion a year, from 2022-23. A full costing of the policy will be certified by the independent Office for Budget Responsibility at the Budget.

Lucy Frazer
Financial Secretary (HM Treasury)
16th Sep 2021
To ask the Chancellor of the Exchequer, what assessment he has made of the levels of (a) resilience and (b) competition that mutuals and co-operatives bring to the economy.

In my role as Economic Secretary, I have been a champion of the mutuals sector. It is clear to me that mutuals bring something different to other forms of running a business, with their clear focus on delivering the services their members and communities need.

The Government has sought to improve the business environment for co-operatives and mutuals. The Co-operative and Community Benefit Societies Act 2014 helped cut through the legal complexity involved in running a co-operative, improving their competitiveness. The ability of co-operatives to raise £100,000 of withdrawable share capital per member, increased from £20,000 in 2014, has also ensured that co-operatives have the necessary flexibility to raise funding and compete more effectively with companies.

Furthermore, following the interest rate cap rise from 2% to 3% in 2014, credit unions have been able to expand into higher-risk markets and provide an important alternative to high-cost lenders. The prize-linked savings scheme, which was offered through credit unions, has also helped increase individuals’ financial resilience and raise awareness of credit unions. Building societies and credit unions have also played a key role in supporting consumers through the COVID-19 pandemic by keeping their branches open, which I thanked them for in a letter in April 2020.

Mutuals have benefitted from financial support provided by the Government to businesses during the pandemic, including the Coronavirus Job Retention Scheme. Mutuals also benefitted from the Corporate Insolvency and Governance Act 2020, which provided significant flexibility for mutuals in holding their annual general meetings, as well as improved the insolvency regime for co-operatives. Credit unions have also benefited from the distribution of dormant asset funding by Fair4All Finance, including their £5m COVID resilience fund.

As we build back better from the pandemic, the Government is looking to support the growth of the mutuals sector. The Chancellor announced at Budget 2020 that the Government intends to bring forward changes to the Credit Unions Act to allow credit unions to offer a wider range of products and services. Officials have been engaging with credit unions to ensure changes meet the needs of members and credit unions. This measure will be brought forward when parliamentary time allows.

At Budget 2021, the Government also announced the £150m Community Ownership Fund. This will allow community groups to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses, supporting co-operative entrepreneurship. First round bids are currently being assessed and funding decisions will be announced in due course.

I meet with the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) on a regular basis to discuss various matters. Officials also engage regularly with the FCA and PRA to discuss how best to support the growth and stability of the mutuals sector. However, the regulators are independent of Government and the Government cannot direct them to consider specific issues.

John Glen
Economic Secretary (HM Treasury)
16th Sep 2021
To ask the Chancellor of the Exchequer, what steps he is taking to engage with the (a) Financial Conduct Authority and (b) Prudential Regulation Authority to protect mutuals and co-operatives.

In my role as Economic Secretary, I have been a champion of the mutuals sector. It is clear to me that mutuals bring something different to other forms of running a business, with their clear focus on delivering the services their members and communities need.

The Government has sought to improve the business environment for co-operatives and mutuals. The Co-operative and Community Benefit Societies Act 2014 helped cut through the legal complexity involved in running a co-operative, improving their competitiveness. The ability of co-operatives to raise £100,000 of withdrawable share capital per member, increased from £20,000 in 2014, has also ensured that co-operatives have the necessary flexibility to raise funding and compete more effectively with companies.

Furthermore, following the interest rate cap rise from 2% to 3% in 2014, credit unions have been able to expand into higher-risk markets and provide an important alternative to high-cost lenders. The prize-linked savings scheme, which was offered through credit unions, has also helped increase individuals’ financial resilience and raise awareness of credit unions. Building societies and credit unions have also played a key role in supporting consumers through the COVID-19 pandemic by keeping their branches open, which I thanked them for in a letter in April 2020.

Mutuals have benefitted from financial support provided by the Government to businesses during the pandemic, including the Coronavirus Job Retention Scheme. Mutuals also benefitted from the Corporate Insolvency and Governance Act 2020, which provided significant flexibility for mutuals in holding their annual general meetings, as well as improved the insolvency regime for co-operatives. Credit unions have also benefited from the distribution of dormant asset funding by Fair4All Finance, including their £5m COVID resilience fund.

As we build back better from the pandemic, the Government is looking to support the growth of the mutuals sector. The Chancellor announced at Budget 2020 that the Government intends to bring forward changes to the Credit Unions Act to allow credit unions to offer a wider range of products and services. Officials have been engaging with credit unions to ensure changes meet the needs of members and credit unions. This measure will be brought forward when parliamentary time allows.

At Budget 2021, the Government also announced the £150m Community Ownership Fund. This will allow community groups to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses, supporting co-operative entrepreneurship. First round bids are currently being assessed and funding decisions will be announced in due course.

I meet with the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) on a regular basis to discuss various matters. Officials also engage regularly with the FCA and PRA to discuss how best to support the growth and stability of the mutuals sector. However, the regulators are independent of Government and the Government cannot direct them to consider specific issues.

John Glen
Economic Secretary (HM Treasury)
16th Sep 2021
To ask the Chancellor of the Exchequer, what assessment he has made of cooperatives and mutuals contribution to the economy.

In my role as Economic Secretary, I have been a champion of the mutuals sector. It is clear to me that mutuals bring something different to other forms of running a business, with their clear focus on delivering the services their members and communities need.

The Government has sought to improve the business environment for co-operatives and mutuals. The Co-operative and Community Benefit Societies Act 2014 helped cut through the legal complexity involved in running a co-operative, improving their competitiveness. The ability of co-operatives to raise £100,000 of withdrawable share capital per member, increased from £20,000 in 2014, has also ensured that co-operatives have the necessary flexibility to raise funding and compete more effectively with companies.

Furthermore, following the interest rate cap rise from 2% to 3% in 2014, credit unions have been able to expand into higher-risk markets and provide an important alternative to high-cost lenders. The prize-linked savings scheme, which was offered through credit unions, has also helped increase individuals’ financial resilience and raise awareness of credit unions. Building societies and credit unions have also played a key role in supporting consumers through the COVID-19 pandemic by keeping their branches open, which I thanked them for in a letter in April 2020.

Mutuals have benefitted from financial support provided by the Government to businesses during the pandemic, including the Coronavirus Job Retention Scheme. Mutuals also benefitted from the Corporate Insolvency and Governance Act 2020, which provided significant flexibility for mutuals in holding their annual general meetings, as well as improved the insolvency regime for co-operatives. Credit unions have also benefited from the distribution of dormant asset funding by Fair4All Finance, including their £5m COVID resilience fund.

As we build back better from the pandemic, the Government is looking to support the growth of the mutuals sector. The Chancellor announced at Budget 2020 that the Government intends to bring forward changes to the Credit Unions Act to allow credit unions to offer a wider range of products and services. Officials have been engaging with credit unions to ensure changes meet the needs of members and credit unions. This measure will be brought forward when parliamentary time allows.

At Budget 2021, the Government also announced the £150m Community Ownership Fund. This will allow community groups to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses, supporting co-operative entrepreneurship. First round bids are currently being assessed and funding decisions will be announced in due course.

I meet with the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) on a regular basis to discuss various matters. Officials also engage regularly with the FCA and PRA to discuss how best to support the growth and stability of the mutuals sector. However, the regulators are independent of Government and the Government cannot direct them to consider specific issues.

John Glen
Economic Secretary (HM Treasury)
16th Sep 2021
To ask the Chancellor of the Exchequer, what steps he is taking to support the growth of the cooperative and mutual sector.

In my role as Economic Secretary, I have been a champion of the mutuals sector. It is clear to me that mutuals bring something different to other forms of running a business, with their clear focus on delivering the services their members and communities need.

The Government has sought to improve the business environment for co-operatives and mutuals. The Co-operative and Community Benefit Societies Act 2014 helped cut through the legal complexity involved in running a co-operative, improving their competitiveness. The ability of co-operatives to raise £100,000 of withdrawable share capital per member, increased from £20,000 in 2014, has also ensured that co-operatives have the necessary flexibility to raise funding and compete more effectively with companies.

Furthermore, following the interest rate cap rise from 2% to 3% in 2014, credit unions have been able to expand into higher-risk markets and provide an important alternative to high-cost lenders. The prize-linked savings scheme, which was offered through credit unions, has also helped increase individuals’ financial resilience and raise awareness of credit unions. Building societies and credit unions have also played a key role in supporting consumers through the COVID-19 pandemic by keeping their branches open, which I thanked them for in a letter in April 2020.

Mutuals have benefitted from financial support provided by the Government to businesses during the pandemic, including the Coronavirus Job Retention Scheme. Mutuals also benefitted from the Corporate Insolvency and Governance Act 2020, which provided significant flexibility for mutuals in holding their annual general meetings, as well as improved the insolvency regime for co-operatives. Credit unions have also benefited from the distribution of dormant asset funding by Fair4All Finance, including their £5m COVID resilience fund.

As we build back better from the pandemic, the Government is looking to support the growth of the mutuals sector. The Chancellor announced at Budget 2020 that the Government intends to bring forward changes to the Credit Unions Act to allow credit unions to offer a wider range of products and services. Officials have been engaging with credit unions to ensure changes meet the needs of members and credit unions. This measure will be brought forward when parliamentary time allows.

At Budget 2021, the Government also announced the £150m Community Ownership Fund. This will allow community groups to bid for up to £250,000 matched-funding to help them buy or take over local community assets at risk of being lost and run them as community-owned businesses, supporting co-operative entrepreneurship. First round bids are currently being assessed and funding decisions will be announced in due course.

I meet with the Financial Conduct Authority (FCA) and the Prudential Regulatory Authority (PRA) on a regular basis to discuss various matters. Officials also engage regularly with the FCA and PRA to discuss how best to support the growth and stability of the mutuals sector. However, the regulators are independent of Government and the Government cannot direct them to consider specific issues.

John Glen
Economic Secretary (HM Treasury)