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

Jeremy Hunt
Chancellor of the Exchequer

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

Liberal Democrat
Baroness Kramer (LD - Life peer)
Liberal Democrat Lords Spokesperson (Treasury and Economy)

Plaid Cymru
Ben Lake (PC - Ceredigion)
Shadow PC Spokesperson (Treasury)

Labour
Rachel Reeves (Lab - Leeds West)
Shadow Chancellor of the Exchequer

Liberal Democrat
Sarah Olney (LD - Richmond Park)
Liberal Democrat Spokesperson (Treasury)

Labour
Baroness Chapman of Darlington (Lab - Life peer)
Shadow Spokesperson (Treasury)
Lord Livermore (Lab - Life peer)
Shadow Spokesperson (Treasury)
Junior Shadow Ministers / Deputy Spokesperson
Labour
James Murray (Lab - Ealing North)
Shadow Financial Secretary (Treasury)
Tulip Siddiq (Lab - Hampstead and Kilburn)
Shadow Minister (Treasury)
Darren Jones (Lab - Bristol North West)
Shadow Chief Secretary to the Treasury
Ministers of State
Nigel Huddleston (Con - Mid Worcestershire)
Financial Secretary (HM Treasury)
Laura Trott (Con - Sevenoaks)
Chief Secretary to the Treasury
Parliamentary Under-Secretaries of State
Gareth Davies (Con - Grantham and Stamford)
Exchequer Secretary (HM Treasury)
Bim Afolami (Con - Hitchin and Harpenden)
Economic Secretary (HM Treasury)
Baroness Vere of Norbiton (Con - Life peer)
Parliamentary Secretary (HM Treasury)
Scheduled Event
Tuesday 27th February 2024
HM Treasury
Orders and regulations - Grand Committee
Social Security (Contributions) (Limits and Thresholds, National Insurance Funds Payments and Extension of Veterans Relief) Regulations 2024; Tax Credits, Child Benefit and Guardian’s Allowance Up-rating Regulations 2024
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Scheduled Event
Tuesday 27th February 2024
HM Treasury
Orders and regulations - Grand Committee
Bank of England Levy (Amount of Levy Payable) Regulations 2024
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Scheduled Event
Wednesday 6th March 2024
HM Treasury
Financial Statement - Main Chamber
Budget Statement
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Scheduled Event
Tuesday 19th March 2024
11:30
HM Treasury
Oral questions - Main Chamber
19 Mar 2024, 11:30 a.m.
HM Treasury (including Topical Questions)
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Scheduled Event
Tuesday 7th May 2024
11:30
HM Treasury
Oral questions - Main Chamber
7 May 2024, 11:30 a.m.
HM Treasury (including Topical Questions)
Save to Calendar
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Debates
Thursday 22nd February 2024
Treasury
Ministerial Corrections
Select Committee Inquiry
Tuesday 31st January 2023
Written Answers
Wednesday 21st February 2024
Roads: Freight
To ask the Chancellor of the Exchequer, whether he has made an assessment of the implications for his policies of …
Secondary Legislation
Thursday 22nd February 2024
Social Security (Contributions) (Amendment) Regulations 2024
These Regulations amend the Social Security (Contributions) Regulations 2001 (S.I. 2001/1004) to provide that a payment under the Group Litigation …
Bills
Monday 27th November 2023
Finance Act 2024
A Bill to make provision in connection with finance.
Dept. Publications
Thursday 22nd February 2024
10:00
Changes made to The Crown Estate Board
News and Communications

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
Feb. 06
Oral Questions
Jan. 25
Urgent Questions
Jan. 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: 27th November 2023

A Bill to make provision in connection with finance.

This Bill received Royal Assent on 22nd February 2024 and was enacted into law.

Introduced: 23rd November 2023

A Bill to make provision for and in connection with reducing the main rates of primary Class 1 national insurance contributions and Class 4 national insurance contributions, and removing the requirement to pay Class 2 national insurance contributions.

This Bill received Royal Assent on 13th December 2023 and was enacted into law.

Introduced: 5th July 2023

A Bill to Authorise the use of resources for the year ending with 31 March 2024; 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 2023.

This Bill received Royal Assent on 11th July 2023 and was enacted into law.

Introduced: 21st March 2023

A Bill to make provision in connection with finance.

This Bill received Royal Assent on 11th July 2023 and was enacted into law.

Introduced: 20th July 2022

A Bill To make provision about the regulation of financial services and markets; and for connected purposes.

This Bill received Royal Assent on 29th June 2023 and was enacted into law.

Introduced: 11th May 2022

A Bill to make provision about the UK Infrastructure Bank

This Bill received Royal Assent on 23rd March 2023 and was enacted into law.

Introduced: 8th March 2023

A Bill to Authorise the use of resources for the years ending with 31 March 2022, 31 March 2023 and 31 March 2024; 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 2022 and 31 March 2023.

This Bill received Royal Assent on 23rd March 2023 and was enacted into law.

Introduced: 24th October 2022

A Bill 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 8th February 2023 and was enacted into law.

Introduced: 22nd November 2022

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 10th January 2023 and was enacted into law.

Introduced: 24th October 2022

A Bill to authorise the use of resources for the year ending with 31 March 2023; to authorise the issue of sums out of the Consolidated Fund for that year; and to appropriate the supply authorised by this Act for that year.

This Bill received Royal Assent on 25th October 2022 and was enacted into law.

Introduced: 22nd September 2022

A Bill to make provision for and in connection with the repeal of the Health and Social Care Levy Act 2021.

This Bill received Royal Assent on 25th October 2022 and was enacted into law.

Introduced: 6th July 2022

A Bill to authorise the use of resources for the year ending with 31 March 2023; 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 2022

This Bill received Royal Assent on 14th July 2022 and was enacted into law.

Introduced: 5th July 2022

A Bill to make provision for, and in connection with, imposing a charge on ring fence profits of companies.

This Bill received Royal Assent on 14th July 2022 and was enacted into law.

Introduced: 24th March 2022

A Bill to make provision for and in connection with increasing the thresholds at which primary Class 1 contributions, Class 2 contributions and Class 4 contributions become payable.

This Bill received Royal Assent on 31st March 2022 and was enacted into law.

Introduced: 12th May 2021

A Bill to make provision in relation to national insurance contributions.

This Bill received Royal Assent on 14th March 2022 and was enacted into law.

Introduced: 9th March 2022

A Bill To Authorise the use of resources for the years ending with 31 March 2021, 31 March 2022 and 31 March 2023; 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 2021 and 31 March 2022.

This Bill received Royal Assent on 14th March 2022 and was enacted into law.

Introduced: 19th July 2021

A Bill to make provision about public service pension schemes, including retrospective provision to rectify unlawful discrimination in the way in which existing schemes were restricted under the Public Service Pensions Act 2013 and corresponding Northern Ireland legislation; to make provision for the establishment of new public pension schemes for members of occupational pension schemes of bodies that were brought into public ownership under the Banking (Special Provisions) Act 2008; to make provision about the remuneration and the date of retirement of holders of certain judicial offices; to make provision about judicial service after retirement; and for connected purposes

This Bill received Royal Assent on 10th March 2022 and was enacted into law.

Introduced: 2nd November 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 24th February 2022 and was enacted into law.

Introduced: 8th September 2021

A Bill to make provision about the meaning of references to Article 23A benchmarks in contracts and other arrangements; and to make provision about the liability of administrators of Article 23A benchmarks

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

Introduced: 8th September 2021

A Bill to make provision imposing a tax (to be known as the health and social care levy), the proceeds of which are payable to the Secretary of State towards the cost of health care and social care, on amounts in respect of which national insurance contributions are, or would be if no restriction by reference to pensionable age were applicable, payable; and for connected purposes.

This Bill received Royal Assent on 20th October 2021 and was enacted into law.

Introduced: 12th May 2021

A Bill to provide for the payment out of money provided by Parliament of expenditure incurred by the Treasury for, or in connection with, the payment of compensation to customers of London Capital & Finance plc; provide for the making of loans to the Board of the Pension Protection Fund for the purposes of its fraud compensation functions; and for connected purposes.

This Bill received Royal Assent on 20th October 2021 and was enacted into law.

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 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 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 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 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 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 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 17th December 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 22nd July 2020 and was enacted into law.

Introduced: 9th July 2020

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

HM Treasury - Secondary Legislation

These Regulations amend the Social Security (Contributions) Regulations 2001 (S.I. 2001/1004) to provide that a payment under the Group Litigation Order compensation scheme to a nominated individual, relevant onward payments of Post Office compensation payments, Process Review Scheme compensation payments and Suspension Remuneration Review compensation payments will be disregarded in the calculation of earnings for the purpose of establishing liability to Class 1 National Insurance contributions.
These Regulations provide for exemptions from income tax and capital gains tax for Group Litigation Order nominated individual compensation payments, Process Review Scheme compensation payments, Suspension Remuneration Review compensation payments and Victims of Overseas Terrorism Compensation Scheme payments and a relief from inheritance tax for Group Litigation Order nominated individual compensation payments.
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).

Trending Petitions
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(92 in the last 7 days)
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3,095 Signatures
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Petitions with most signatures
Petition Open
11,118 Signatures
(16 in the last 7 days)
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4,632 Signatures
(319 in the last 7 days)
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3,095 Signatures
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Petition Open
1,916 Signatures
(434 in the last 7 days)
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.

Air pollution kills 64,000 people in the UK every year, yet the Government provides annual fossil fuel subsidies of £10.5 billion, according to the European Commission. To meet UK climate targets, the Government must end this practice and introduce charges on producers of greenhouse gas emissions.

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
Harriett Baldwin Portrait
Harriett Baldwin (Conservative - West Worcestershire)
Treasury Committee Chair since 9th November 2022
Angela Eagle Portrait
Angela Eagle (Labour - Wallasey)
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
Anne Marie Morris Portrait
Anne Marie Morris (Conservative - Newton Abbot)
Treasury Committee Member since 21st November 2022
Danny Kruger Portrait
Danny Kruger (Conservative - Devizes)
Treasury Committee Member since 21st November 2022
John Baron Portrait
John Baron (Conservative - Basildon and Billericay)
Treasury Committee Member since 21st November 2022
Drew Hendry Portrait
Drew Hendry (Scottish National Party - Inverness, Nairn, Badenoch and Strathspey)
Treasury Committee Member since 12th September 2023
Keir Mather Portrait
Keir Mather (Labour - Selby and Ainsty)
Treasury Committee Member since 20th November 2023
Stephen Hammond Portrait
Stephen Hammond (Conservative - Wimbledon)
Treasury Committee Member since 11th December 2023
Thérèse Coffey Portrait
Thérèse Coffey (Conservative - Suffolk Coastal)
Treasury Committee Member since 11th December 2023
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

16th Feb 2024
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of raising the threshold for the vehicle excise duty surcharge in line with vehicle price increases since 2015.

The Vehicle Excise Duty surcharge is a supplement in addition to the standard rate of Vehicle Excise Duty, which is applied to cars with a list price of over £40,000. This surcharge is also known as the Expensive Car Supplement, and is payable for five years following the first registration of the vehicle, commencing in year two, with the final payment due in year six.

The £40,000 threshold was set as a suitable way of distinguishing the more luxury end of the new car market, meaning those who can afford the most expensive cars pay more than the standard rate paid by other drivers.

However, the Government recognises that transport is a major cost for individuals and families. That is why, at Spring Budget 2023, the Government announced it would maintain the rates of fuel duty at the levels set on 23 March 2022 for an additional 12 months, by extending the temporary 5p fuel duty cut and cancelling the planned inflation increase for 2023-24. That represents a saving of around £100 for the average car driver this year.

As with all taxes, the Government keeps the Expensive Car Supplement under review, and any changes will be announced at a future fiscal event.

Gareth Davies
Exchequer Secretary (HM Treasury)
16th Feb 2024
To ask the Chancellor of the Exchequer, what steps are being taken to ensure the accurate calculation of pensions for eligible individuals in the context of the McCloud remedy.

The Public Service Pensions and Judicial Offices Act 2022 (the Act) provides remedy for discrimination that arose when new public service pensions schemes were introduced between 2014 and 2016. The Act provides that members must be provided with a remediable service statement which provides detailed information about their pension benefits, including any corrections to lump sum benefits, pension benefits or contributions required by the Act. The Act and HM Treasury directions specify the information that must be provided in the remediable service statement. Scheme Managers are responsible for complying with the requirements of the Act and Treasury Directions, and providing accurate information.

Laura Trott
Chief Secretary to the Treasury
8th Feb 2024
To ask His Majesty's Government what assessment they have made of the role of reduced mortgage rates in the recent increase in house prices.

The path to lower interest rates is through low inflation, and the Government is fully committed to supporting the Bank of England to get inflation back down to the 2% target, including by keeping borrowing under control.

The pricing and availability of mortgages is ultimately a commercial decision for lenders, in which the Government does not intervene. But our plan to bring inflation down is working. Average offered mortgage rates on 2-year and 5-year fixed rates have fallen from their peak in Summer 2023.

The most comprehensive measure of average house prices in the UK is published by the Office for National Statistics. In November 2023 the average house price in the UK was assessed to be £285,000. That leaves average UK house prices 24% higher than their average level in 2019.

The Government continues to monitor developments in the housing market closely and consider the implications for its policies.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
8th Feb 2024
To ask His Majesty's Government what assessment they have made of the extent of UK-based protection and indemnity insurance underwriting the shipping of Russian oil and products.

The Oil Price Cap was designed to meet two core objectives: to bear down on Russian revenues that could otherwise be used to fund their illegal war, whilst also maintaining global energy security and flows of affordable oil to countries that need it. The measure has been effective partly thanks to the prevalence of highly sought after G7 service providers, it is very hard to make major oil trades or gain significant market share without using G7 services at all.

Where G7 services are involved in the shipping of Russian oil and oil products, these trades must be conducted at or below the relevant price cap – constraining Putin’s ability to use inflated oil revenues to sustain his war machine. This is why the UK, alongside G7 partners, have provided extensive guidance to industry to advise service providers, including insurers, on how they can move Russian oil in compliance with the price cap.

We continue to monitor our oil-related measures and investigate any potential breaches robustly.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
8th Feb 2024
To ask His Majesty's Government, following the revision of the rules agreed by Brussels on derivatives trading, what assessment they have made on the impact this will have on the UK's financial services market.

The UK has one of the world’s most robust regulatory regimes for central counterparties, and the government has taken forward work to further strengthen that regime, given our commitment to high regulatory standards.

It is an international norm for jurisdictions to rely on each other’s market infrastructure. The government therefore sees no reason of substance why the UK cannot or should not continue to provide clearing services for countries in the EU and around the world.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
7th Feb 2024
To ask His Majesty's Government what foreign state assets are currently frozen by the UK; and in each case, what is the (1) country, (2) value, and (3) reason.

The Office of Financial Sanctions Implementation (OFSI) undertakes an annual review of frozen assets in the UK, requiring all persons or institutions that hold or control frozen assets in the UK to report to OFSI. As stated in OFSI’s most recent Annual Review published in December 2023, as of September 30th 2022 £21.6 billion in frozen funds were reported to OFSI. This figure is provided in aggregate so as not to disclose the value of any funds held by particular individuals. HM Treasury does not break down reported assets in the manner requested.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
7th Feb 2024
To ask His Majesty's Government what assessment they have made of the impact of (1) current consumer spending, and (2) the declining inflation, on the economy.

Household consumption is the largest component of expenditure in the economy, accounting for around 60% of GDP. In Q3 2023, household consumption was 0.8% higher than in the same quarter of 2022, while consumer confidence reached a two-year high in January 2024. In the Office for Budget Responsibility’s (OBR) November 2023 forecast, consumption was forecast to grow by 0.5% in 2024.

Inflation has more than halved, but it remains a challenge. Inflation reduces real incomes, creates uncertainty, and threatens our growth outlook so it’s essential that the government continues with its efforts to drive it down and not fuel it further.

The OBR are the government’s official forecaster. They will update their economy forecast, including an assessment of changes in consumption and inflation, on 6 March.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
8th Feb 2024
To ask His Majesty's Government which parts of the European Union Customs Code applies in the United Kingdom.

The United Kingdom left the EU on 31 January 2020.

The Windsor Framework, formally adopted by the United Kingdom and the European Union on 23 March 2023, and the ‘Safeguarding the Union’ Command Paper, published on 31 January 2024, set out the arrangements in respect of goods movements into and out of Northern Ireland.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
7th Feb 2024
To ask His Majesty's Government, further to their announcement in the Autumn Statement that they will consult on a framework for encouraging captive insurance companies in the UK, whether they will propose that such captive insurers will remain liable to the same solvency requirements as other insurers.

In Spring this year, the Government will publish a consultation on the design of a new UK regime for captive insurance companies.

The consultation will test views on proposals to introduce an attractive and competitive new UK captive insurance regime that works for businesses. Key to this will also be proportionate regulation that maintains the UK’s high regulatory standards.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, if he will make it his policy to raise the personal allowance threshold in the forthcoming Budget.

The Government is committed to keeping taxes low to support people to keep more of what they earn. However, the Government must also ensure the UK’s economic stability and provide confidence in the commitment to fiscal discipline. The Chancellor has made clear that the UK’s public finances must be on a sustainable path into the medium term.

As with all aspects of the tax system, the Government will keep the Personal Allowance under review and any decisions on future changes will be taken by the Chancellor in the context of the wider public finances.

Nigel Huddleston
Financial Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, how many times HMRC has directed non-established taxable persons whose business is not established in the EU to appoint a VAT representative in each of the last five financial years; what information his Department holds on the number and proportion of these VAT representatives that were themselves established in the UK; and how many and what proportion of non-established taxable persons whose business is not established in the EU failed to comply with such a direction.

HMRC does not hold data on how often they direct a non-established taxable person (NETP) to appoint a UK VAT representative, or levels of compliance.

Nigel Huddleston
Financial Secretary (HM Treasury)
13th Feb 2024
To ask His Majesty's Government what consideration they have given to reinstating VAT-free shopping for international visitors; and what assessment they have made of the impact that this would have on (1) tourism, (2) retail, (3) the hospitality sector, and (4) the overall economy.

Government analysis conducted in 2022 found that introducing a worldwide scheme could come at a fiscal cost of around £2 billion each year.

The government’s costings calculate the direct cost of the policy to the exchequer, taking into account behavioural effects. The wider economic impacts of the policy are considered by the OBR through the indirect effects process.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
13th Feb 2024
To ask His Majesty's Government when they will publish the results of the VAT energy saving materials relief – improving energy efficiency and reducing carbon emissions consultation, which ran from 15 March to 31 May 2023.

At Spring Budget 2023, the Government published a call for evidence seeking views on potential areas of reform to the current VAT relief on the installation of energy-saving materials (ESMs) in residential accommodation and buildings used solely for a relevant charitable purpose. The response to this call for evidence was published on 11 December and can be found on the Government website.[1]

As set out in that response, in order to qualify for this VAT relief, an ESM must meet a number of criteria, including having a primary purpose of improving energy efficiency and saving carbon emissions. As doors and windows do not meet this criteria, the Government has no plans to extend this VAT relief to these items.

[1] VAT energy-saving materials relief – improving energy efficiency and reducing carbon emissions

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
13th Feb 2024
To ask His Majesty's Government what plans they have to extend the VAT exemptions for energy savings materials to replacement windows and doors.

At Spring Budget 2023, the Government published a call for evidence seeking views on potential areas of reform to the current VAT relief on the installation of energy-saving materials (ESMs) in residential accommodation and buildings used solely for a relevant charitable purpose. The response to this call for evidence was published on 11 December and can be found on the Government website.[1]

As set out in that response, in order to qualify for this VAT relief, an ESM must meet a number of criteria, including having a primary purpose of improving energy efficiency and saving carbon emissions. As doors and windows do not meet this criteria, the Government has no plans to extend this VAT relief to these items.

[1] VAT energy-saving materials relief – improving energy efficiency and reducing carbon emissions

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, with reference to paragraph 63, page 48, of the report entitled Mobilising Green Investment: 2023 Green Finance Strategy, published in March 2023, for what reason the launch of the consultation on the next stage of the UK Green Taxonomy process has been delayed.

The Government remains committed to delivering a UK Green Taxonomy to support an increase in financing for activities supporting the transition to net zero and delivering on UK environmental objectives.

Developing a usable and useful Taxonomy is a complex and technical exercise, linked to multiple sectors of the economy and various legislative and regulatory frameworks.

The Government continues to work at pace and expects to publish the consultation shortly.

Bim Afolami
Economic Secretary (HM Treasury)
16th Feb 2024
To ask the Chancellor of the Exchequer, when his Department plans to publish the response to the consultation on proposed draft legislation to bring buy-now pay-later products into regulation; and, with reference to Part J of the Government's publication entitled Consultation principles: guidance updated 19 March 2018, for what reasons has the Department not responded within the 12 week timeframe.

The Government received a large number of substantive and detailed responses to its consultation on draft legislation to bring Buy-Now Pay-Later (BNPL) into regulation. These responses have required careful consideration to ensure that the Government’s approach to regulation is proportionate and delivers on the Government’s intention to protect BNPL borrowers without unduly restricting access to these useful interest-free products.

The Government expects to publish a response to the consultation, which will set out next steps, in due course.

Bim Afolami
Economic Secretary (HM Treasury)
7th Feb 2024
To ask the Chancellor of the Exchequer, what his Department's expected timeline is on completing all stages of the UK Green Taxonomy process.

The Government remains committed to delivering a UK Green Taxonomy to support an increase in financing for activities supporting the transition to net zero and delivering on UK environmental objectives.

We expect to consult shortly. Following the consultation, we will analyse responses and provide a government response in accordance with Cabinet Office consultation principles, with a view to finalising the Taxonomy.

As set out in the Green Finance Strategy (2023), the Government will introduce a testing period of voluntary disclosures for at least two reporting years. In the longer term, we also maintain the ambition to introduce mandatory disclosures against a future Taxonomy.

Bim Afolami
Economic Secretary (HM Treasury)
7th Feb 2024
To ask the Chancellor of the Exchequer, with reference to the joint public letter from UK civil society organisations on the Household Support Fund, published on 6 February 2024, if he will publish a response.

The Treasury carefully considers all issues raised by stakeholders. The Government continues to keep all of its existing policies and programmes under review in the usual way.

The Government has provided £842m to Local Authorities in England to deliver the Household Support Fund in England over 2023-24, and provided over £2 billion for the Fund since October 2021. Over 10 million awards were given from the last extension of the Fund, between 1 October 2022 to 31 March 2023.

Laura Trott
Chief Secretary to the Treasury
7th Feb 2024
To ask the Chancellor of the Exchequer, if he will make provision for compensation to those affected by sodium valproate in the forthcoming Budget.

On 7 February, the Patient Safety Commissioner published The Hughes Report, which provides recommendations for redress for those harmed by valproate and pelvic mesh.

The Government is carefully considering these recommendations and will respond to the report in due course.

Laura Trott
Chief Secretary to the Treasury
7th Feb 2024
To ask the Chancellor of the Exchequer, what recent steps he has taken to ensure pension remediation for public sector workers affected by the McCloud judgement.

The Public Service Pensions and Judicial Offices Act 2022 provides remedy for discrimination that arose when new public service pensions schemes were introduced between 2014 and 2016. The remedy has two main elements: older “legacy” pension schemes were closed as of 1 April 2022 to equalise future accrual in newer “reformed” schemes; and, from 1 October 2023 all affected members are being given a choice at retirement (or within 18 months of 1 October 2023 for those who have already retired) as to whether to receive legacy or reformed scheme benefits for the remedy period.

Laura Trott
Chief Secretary to the Treasury
6th Feb 2024
To ask His Majesty's Government what data they hold on physical attendance, for working days from Monday to Friday inclusive, by officials at offices based at the Darlington Economic Campus across all departments with a presence there; and whether they will publish that data.

The Government Property Agency manage access to all DEC campus buildings, and routinely provide data to departments through a combination of access pass data and space booking.

Cabinet Office publish data on attendance in the form of Headquarters Occupancy data, but this data is not broken down per-department on a building-by-building basis.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
6th Feb 2024
To ask His Majesty's Government what assessment they have made of the impact of the recent fall in mortgage rates on the wider UK economy.

The path to lower interest rates is through low inflation, and the government is fully committed to supporting the Bank of England get inflation back down to the 2% target, including by keeping borrowing under control.

The pricing and availability of mortgages is ultimately a commercial decision for lenders, in which the Government does not intervene. But our plan to bring inflation down is working. Average offered mortgage rates on 2-year and 5-year fixed rates have also fallen from their peak in Summer 2023.

The Bank of England has outlined some of the links between interest rates, housing markets and wider economic activity in its November 2023 and February 2024 Monetary Policy Reports.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
6th Feb 2024
To ask His Majesty's Government, following a request from the Northern Ireland Executive for increased funding from Britain, what steps they are taking, if any, to (1) review their current funding offer, and (2) negotiate a new offer.

The UK Government are providing the newly restored Northern Ireland Executive with a financial package worth over £3.3 billion to support a restored Executive with the immediate and unique challenges facing the people of Northern Ireland, and to provide the necessary tools to deliver long-term sustainability.

As committed to in the financial package, we will engage with the Northern Ireland Executive on a long-term fiscal framework for Northern Ireland.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
8th Feb 2024
To ask His Majesty's Government, following the Autumn Statement 2023, what assessment they have made of the suitability of the economic climate to enable them to return Official Development Assistance to 0.7 per cent of gross national income.

The government remains committed to returning to a target of spending 0.7% of GNI on ODA when, on a sustainable basis, the government is not borrowing for day-to-day spending and underlying debt is falling.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, what steps his Department is taking to help support eligible individuals following the McCloud Remedy.

The Public Service Pensions and Judicial Offices Act 2022 provides remedy for discrimination that arose when new public service pensions schemes were introduced between 2014 and 2016. The remedy has two main elements: older “legacy” pension schemes were closed as of 1 April 2022 to equalise future accrual in newer “reformed” schemes; and, from 1 October 2023 all affected members are being given a choice at retirement (or within 18 months of 1 October 2023 for those who have already retired) as to whether to receive legacy or reformed scheme benefits for the remedy period.

Laura Trott
Chief Secretary to the Treasury
5th Feb 2024
To ask His Majesty's Government, further to the letter from the Economic Secretary to the Treasury to The Share Foundation on 23 January where he stated that "the government currently has no plans to introduce a 'Default Withdrawal at 21' process" for unclaimed and unregistered HMRC-allocated child trust funds, what are their reasons for declining this proposal.

The government carefully considered the proposal outlined in The Share Foundation’s letter of 24 November 2023 and decided it was not deliverable for several reasons.

The Share Foundation have proposed a complex scheme which would require the co-operation of ISA and Child Trust Fund (CTF) managers, other Government Departments and banks and building societies to identify the relevant young people (and whether they are in receipt of benefits or government payments) and to facilitate the transfer of information and funds between those agencies. Such a scheme is likely to engage with data protection issues and interfere with an individual’s right to manage their own financial affairs.

The Government attaches great importance to ensuring young people can access their matured CTFs. HMRC assists these young people through its online tracing service and through targeted communications appropriate to the age group. It will continue its work with providers, industry representatives and other stakeholders exploring ways of increasing the profile of CTFs and enabling account owners to be aware of and trace their accounts.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
5th Feb 2024
To ask His Majesty's Government what progress they have made on the delivery of the banking hubs and delivery hubs recommended by Link for locations which have been identified as lacking in services, such as Marple in Greater Manchester; and what steps are they planning to ensure that delivery is accelerated.

Banking Hubs are a voluntary industry initiative, which enable customers of participating banks to access cash and banking services in shared facilities. To date, LINK has recommended over 100 Banking Hubs across the UK. Over 30 Banking Hubs have opened, with a further 70 expected to open by the end of the year. LINK has also recommended cash deposit services in another 90 communities, including Marple in Greater Manchester. While industry is responsible for delivering these services, the government is closely monitoring the rollout and hopes to see facilities open as soon as possible.

Separately, the government has legislated to protect access to cash specifically. The Financial Services and Markets Act 2023 provides the Financial Conduct Authority (FCA) with responsibility and powers to seek to ensure reasonable provision of cash withdrawal and deposit facilities. Following the conclusion of its consultation on 8 February, the FCA expects to finalise its rules in Q3 2024.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
6th Feb 2024
To ask His Majesty's Government whether they have further plans to reform or improve controls around high exit payments in the public sector, and whether they are considering reintroducing a cap on very high public sector exit payments.

The Government maintains its commitment to ensuring that public sector exit payments are fair and proportionate to employers, employees and taxpayers. We continue to look at different options to tackle large exit payments and consulted on introducing additional controls in 2022. The Government is considering the responses to this consultation and will publish a response in due course.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
6th Feb 2024
To ask His Majesty's Government what discussions they have had with the Scottish Government since it projected a potential £1 billion resource spending gap in 2024–25, rising to £1.9 billion by 2027–28.

The Chief Secretary to the Treasury engages regularly with the Deputy First Minister and Cabinet Secretary for Finance to discuss matters relating to Scottish Government funding. They met most recently in Edinburgh on 25 January at the Finance: Interministerial Standing Committee.

The UK Government is providing the Scottish Government with a record block grant settlement of £41 billion per year over this Spending Review. On top of this, the Scottish Government is receiving over £2 billion in additional funding through the Barnett formula over 2023-24 and 2024-25 as a result of decisions taken at fiscal events.

In August 2023, the UK and Scottish Government reached agreement on an updated Fiscal Framework for the Scottish Government. This included provision to maintain the Scottish Government’s preferred block grant adjustment methodology to account for tax and welfare devolution, remove drawdown limits from the Scotland Reserve and increase the Scottish Government’s borrowing and reserve limits in line with inflation each year.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, how much his Department has paid in compensation to affected Equitable Life policyholders as of 8 February 2024.

The Government allocated £1.5 billion to the Equitable Life Payment Scheme. Before it ceased operations in 2016, the Scheme issued £1.12 billion in tax-free payments to nearly 933,000 policyholders. The remainder of the £1.5 billion has been set aside for future payments to the With-Profits Annuitants. Further information is available in the Final Report on the Scheme. (https://www.gov.uk/government/publications/equitable-life-payment-scheme-final-report).

At 31 December 2023, the total value of payments made by the Equitable Life Payment Scheme was £1,330,835,466.52.

Bim Afolami
Economic Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, how many times officials in his Department have met affected Equitable Life policyholders in the last 12 months.

The Government allocated £1.5 billion to the Equitable Life Payment Scheme. Before it ceased operations in 2016, the Scheme issued £1.12 billion in tax-free payments to nearly 933,000 policyholders. The remainder of the £1.5 billion has been set aside for future payments to the With-Profits Annuitants. Further information is available in the Final Report on the Scheme. (https://www.gov.uk/government/publications/equitable-life-payment-scheme-final-report).

At 31 December 2023, the total value of payments made by the Equitable Life Payment Scheme was £1,330,835,466.52.

Bim Afolami
Economic Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, whether his Department has made an estimate of the number of people who have bought buy-now pay-later interest-free products in (a) 2022 and (b) 2023.

HM Treasury regularly monitors the consumer credit market as part of its normal process of policy development.

The department does not hold precise information on the number of consumers who used Buy-Now Pay-Later (BNPL) products in (a) 2022 and (b) 2023. Instead, HM Treasury draws on the research of various stakeholders to inform policy development. The Financial Conduct Authority’s Financial Lives surveys include findings on the number of people using BNPL and can be accessed here: https://www.fca.org.uk/publications/research-notes/deferred-payment-credit-findings-financial-lives-survey.

Bim Afolami
Economic Secretary (HM Treasury)
6th Feb 2024
To ask the Chancellor of the Exchequer, what steps his Department is taking to ensure that the total £1.5 billion allocated for the Equitable Life Payments Scheme is paid out to affected Equitable Life policyholders.

The Government allocated £1.5 billion to the Equitable Life Payment Scheme. Before it ceased operations in 2016, the Scheme issued £1.12 billion in tax-free payments to nearly 933,000 policyholders. The remainder of the £1.5 billion has been set aside for future payments to the With-Profits Annuitants. Further information is available in the Final Report on the Scheme (https://www.gov.uk/government/publications/equitable-life-payment-scheme-final-report).

Bim Afolami
Economic Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, what progress HMRC has made on reducing the time taken to issue f A1 forms.

Many musicians travel internationally for performances, and HMRC acknowledges that access to A1 certificates is important to them in accessing their social security rights in the EU, EEA and Switzerland.

HMRC has seen a significant rise in the number of A1 applications and in other National Insurance work which has impacted processing times.

While progress has been made, HMRC acknowledges that more needs to be done to meet its service standards and is aiming to do so for all types of A1 applications by the end of April 2024. To address this the department has implemented a recovery strategy, including providing additional resources. HMRC has also recently introduced new online versions of the A1 application forms based on customer feedback, along with additional features to improve the application process.

Nigel Huddleston
Financial Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, what the average processing time was for issuing an A1 form in (a) January 2023, (b) September 2023, (c) December 2023 and (d) January 2024.

Many musicians travel internationally for performances, and HMRC acknowledges that access to A1 certificates is important to them in accessing their social security rights in the EU, EEA and Switzerland.

HMRC has seen a significant rise in the number of A1 applications and in other National Insurance work which has impacted processing times.

While progress has been made, HMRC acknowledges that more needs to be done to meet its service standards and is aiming to do so for all types of A1 applications by the end of April 2024. To address this the department has implemented a recovery strategy, including providing additional resources. HMRC has also recently introduced new online versions of the A1 application forms based on customer feedback, along with additional features to improve the application process.

Nigel Huddleston
Financial Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, if his Department has made an assessment of the potential impact of the time taken to issue A1 forms on the UK’s live music sector.

Many musicians travel internationally for performances, and HMRC acknowledges that access to A1 certificates is important to them in accessing their social security rights in the EU, EEA and Switzerland.

HMRC has seen a significant rise in the number of A1 applications and in other National Insurance work which has impacted processing times.

While progress has been made, HMRC acknowledges that more needs to be done to meet its service standards and is aiming to do so for all types of A1 applications by the end of April 2024. To address this the department has implemented a recovery strategy, including providing additional resources. HMRC has also recently introduced new online versions of the A1 application forms based on customer feedback, along with additional features to improve the application process.

Nigel Huddleston
Financial Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, whether he plans to deliver his Department's service standards for the issuing of A1 forms by April 2024.

Many musicians travel internationally for performances, and HMRC acknowledges that access to A1 certificates is important to them in accessing their social security rights in the EU, EEA and Switzerland.

HMRC has seen a significant rise in the number of A1 applications and in other National Insurance work which has impacted processing times.

While progress has been made, HMRC acknowledges that more needs to be done to meet its service standards and is aiming to do so for all types of A1 applications by the end of April 2024. To address this the department has implemented a recovery strategy, including providing additional resources. HMRC has also recently introduced new online versions of the A1 application forms based on customer feedback, along with additional features to improve the application process.

Nigel Huddleston
Financial Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, if he will make an assessment of the potential merits of increasing the tax-free threshold for pensioners to £15,000.

The Government is committed to ensuring that older people are able to live with the dignity and respect they deserve. The Personal Allowance is currently set at a level high enough to ensure that those pensioners whose sole income is the full new State Pension or basic State Pension do not pay any income tax.

Nigel Huddleston
Financial Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, what fiscal steps his Department is taking to help support the brewery industry.

The Government values the important contribution that the brewery industry makes to our economy and society. The new duty system, introduced on 1 August 2023, contains many benefits for brewers, including two new reliefs.

The new Small Producer Relief means that small producers now see reduced duty rates on all products below 8.5 per cent alcohol by volume (ABV) up to a production threshold.

The new Draught Relief means that all alcoholic products under 8.5 per cent ABV which are sold in containers of 20 litres or more and are sold to connect to a dispense system qualify for reduced duty rates. This relief provides a reduction in the duty on draught beer and cider products by 9.2 per cent.

As with all tax policy, the Government keeps the alcohol duty system under review as part of the annual Budget process.

Gareth Davies
Exchequer Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, what fiscal steps his Department is taking to help support community pubs.

The Government values the important contribution that pubs make to our culture and the UK economy, including fostering a sense of place and community.

Under the new alcohol duty system, Draught Relief provides a 9.2% duty reduction on draught beer and cider products below 8.5% alcohol by volume. This ensures that there will always be a lower duty rate for draught products to recognise the value of our great British pubs. This means that every pint, in every pub across the UK pays less duty than their supermarket equivalent - this is the Government's Brexit Pubs Guarantee.

In addition, at Autumn Statement 2023, the government announced it will extend the Retail, Hospitality and Leisure relief scheme at 75 per cent, up to a cash cap of £110,000 per business for 2024-25. Around 230,000 retail, hospitality and leisure properties, including pubs, will be eligible for this relief, a tax cut worth nearly £2.4bn.

The Government is also funding a wide range of community assets, including pubs, through the Community Ownership Fund. To date, the Fund has allocated £71.3m to 257 projects, including many rural pubs.

Gareth Davies
Exchequer Secretary (HM Treasury)
8th Feb 2024
To ask the Chancellor of the Exchequer, what fiscal steps his Department is taking to support the hospitality and tourism sectors.

The Government is committed to supporting the hospitality and tourism sectors, which provide a significant contribution to the UK economy and society. Since the start of the Covid-19 pandemic, over £37 billion has been provided to the tourism, leisure and hospitality sectors in the form of grants, loans and tax breaks.

At Autumn Statement 2023, the government announced it will extend the business rates Retail, Hospitality and Leisure relief scheme at 75 per cent, up to a cash cap of £110,000 per business for 2024-25. Around 230,000 retail, hospitality and leisure properties will be eligible for this relief, a tax cut worth nearly £2.4 billion.

Over this Spending Review period – the Government has allocated over £100m to the British Tourist Authority to support VisitBritain and VisitEngland with marketing activity to promote Britain as a destination.

Gareth Davies
Exchequer Secretary (HM Treasury)
6th Feb 2024
To ask the Chancellor of the Exchequer, with reference to bullet four of Aim 1A in the policy paper entitled Stubbing out the problem: A new strategy to tackle illicit tobacco, published in January 2024, whether the review of sanctions will include a re-examination of the ability for Trading Standards to apply on-the-spot fines rather than referring to HMRC.

There are no immediate plans to re-examine the ability for Trading Standards to apply ‘on the spot fines’ rather than referring to HMRC. However, the Government keeps all options under review and welcomes representations to inform future decisions.

HMRC and Trading Standards worked closely together to design the current referral process. Making best use of their respective resources and expertise in the most effective and efficient way was a major driver for the current design.

The referral model leverages the strengths of both organisations: Trading Standards’ ability to provide street level enforcement activity and visibility, alongside HMRC's capabilities in the effective administration of penalties.

Gareth Davies
Exchequer Secretary (HM Treasury)
6th Feb 2024
To ask the Chancellor of the Exchequer, if he will take steps to ensure that the police are represented on the Illicit Tobacco Taskforce.

Although HMRC works with the police where appropriate, it is the lead law enforcement agency on tobacco fraud. HMRC has its own powers to conduct criminal investigations, make arrests and seek prosecution (via the Crown Prosecution Service).

The initial members of the taskforce will play a lead role in tackling tobacco fraud, but will also work with all law enforcement and intelligence agencies where appropriate. As the taskforce develops, the Government will regularly review the need to bring in other partners.

Gareth Davies
Exchequer Secretary (HM Treasury)
6th Feb 2024
To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Stubbing out the problem: A new strategy to tackle illicit tobacco, published in January 2024, whether the £100 million to be allocated to HMRC and Border Force to tackle the illicit tobacco trade is in addition to the £30 million planned investment announced in the news story entitled Prime Minister to create smokefree generation by ending cigarette sales to those born on or after 1 January 2009, published on 4 October 2023.

The £100 million to be allocated to HM Revenue and Customs (HMRC) and Border Force to tackle the illicit tobacco trade will be split over 5 years and represents a proportion of the aforementioned £30 million per year. It will support the delivery of the illicit tobacco strategy.

Gareth Davies
Exchequer Secretary (HM Treasury)
6th Feb 2024
To ask the Chancellor of the Exchequer, whether he (a) is taking and (b) plans to take steps to assess the potential merits of extending the Household Support Fund into the next financial year.

The Government continues to keep all of its existing policies and programmes under review in the usual way.

Laura Trott
Chief Secretary to the Treasury
7th Feb 2024
To ask the Chancellor of the Exchequer, whether he has plans to review the High Income Child Benefit Charge threshold.

The Government is committed to managing the public finances in a disciplined and responsible way.

The High Income Child Benefit Charge (HICBC) targets Child Benefit expenditure so that the Government is supporting most families, whilst ensuring the fiscal position remains sustainable. The threshold affects taxpayers who are generally on comparatively higher incomes.

In 2020-21, (the latest year that data is available), 99.7% of those who declared a liability for HICBC paid income tax at the higher rate or above, and 88% of Child Benefit claimants were unaffected by the HICBC.

As with all elements of tax policy, the Government keeps the HICBC under review.

Nigel Huddleston
Financial Secretary (HM Treasury)
7th Feb 2024
To ask the Chancellor of the Exchequer, if he will review the threshold for the high income child benefit charge.

The Government is committed to managing the public finances in a disciplined and responsible way.

The High Income Child Benefit Charge (HICBC) targets Child Benefit expenditure so that the Government is supporting most families, whilst ensuring the fiscal position remains sustainable. The threshold affects taxpayers who are generally on comparatively higher incomes.

In 2020-21, (the latest year that data is available), 99.7% of those who declared a liability for HICBC paid income tax at the higher rate or above, and 88% of Child Benefit claimants were unaffected by the HICBC.

As with all elements of tax policy, the Government keeps the HICBC under review.

Nigel Huddleston
Financial Secretary (HM Treasury)
6th Feb 2024
To ask the Chancellor of the Exchequer, pursuant to the Answer of 20 November 2023 to Question 2098 on Childcare: Finance, how much the Welsh Government will receive in Barnett Formula consequential funding for (a) the roll out 15 hours of free childcare for working parents of two-year-olds from April 2024 in England and (b) extending 15 hours of free childcare to all children from the age of nine months from September 2024 in England.

The Barnett formula applies to all increases or decreases to Departmental Expenditure Limits (DEL).

The Department for Education received additional funding for these programmes at Spring Budget 2023, and the Barnett formula was applied in the usual way.

Laura Trott
Chief Secretary to the Treasury
2nd Feb 2024
To ask His Majesty's Government what (1) military, and (2) non-military, departmental budgets have been allocated for all forms of support for the war in Ukraine in the financial year 2024–2025.

The UK’s total support for Ukraine committed since February 2022 now amounts to almost £12 billion, including £4.1 billion of fiscal support via World Bank loan guarantees.

The Prime Minister recently announced £2.5 billion of military assistance for Ukraine in financial year 2024-2025. No Department is being asked to contribute to this package, the funding will be drawn from the Reserve.

The exact amount of non-military support in 2024-2025 remains to be confirmed.

Baroness Vere of Norbiton
Parliamentary Secretary (HM Treasury)