Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government, following the implementation of the EU Carbon Border Adjustment Mechanism on 1 January, what steps they are taking to mitigate the £200 million annual cost to Northern Ireland and risk to 1,100 jobs estimated in Energy UK’s report Borderline confusion - Carbon Border Adjustment Mechanisms in Northern Ireland, published in January 2025.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Energy UK report referred to assumes that the EU Carbon Border Adjustment Mechanism (CBAM) would apply in Northern Ireland. The EU CBAM does not apply in Northern Ireland. From 1 January 2027, the UK CBAM will apply across the whole of the UK, including Northern Ireland.
To reduce barriers to trade, the UK and EU are also negotiating a deal to link respective emissions trading schemes, which will create the conditions for mutual CBAM exemptions. Those talks have begun and the Government is working to negotiate a good deal in line with UK interests as quickly as is feasible.
The Government also welcomes the European Commission’s proposed amendments, published December 2025, which would mean electricity exports from the UK will not face an EU CBAM charge.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government further to the Written Answer by Baroness Ritchie of Downpatrick on 22 September (HL10373), when they will publish an updated plan for the delivery of a single trade window.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government is committed to minimising administrative burdens and frictions experienced by businesses trading internationally and is engaging with key stakeholders to better understand their needs for the future operation of the UK border.
The Government does not have a definitive timeframe for the implementation of the Single Trade Window, though traders are able to submit import and export documentations electronically via the Customs Declaration Service.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what plans they have to promote long-term fiscal devolution; and what assessment they have made of the potential of greater fiscal devolution to address regional inequalities and growth rates.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The United Kingdom Government regularly considers how fiscal devolution arrangements are working in practice, taking into account the views of a range of stakeholders.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what plans they have to consider the learnings on fiscal devolution of each nation and region in Council of the Nations and Regions.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The United Kingdom Government regularly considers how fiscal devolution arrangements are working in practice, taking into account the views of a range of stakeholders.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what plans they have to consider the learnings on fiscal devolution of each nation and region in the British–Irish Council.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The United Kingdom Government regularly considers how fiscal devolution arrangements are working in practice, taking into account the views of a range of stakeholders.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what plans they have to deliver a single trade window.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government is committed to minimising administrative burdens and frictions experienced by businesses trading internationally. While delivery of the single trade window (STW) was paused at the end of 2024, it remains the Government’s intention to deliver an STW, and we will use the pause to further engage with key border stakeholders to better understand their needs.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government whether the Trader Support Service procurement process includes assessment of bidders' previous contract performance.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Trader Support Services contract is being procured in compliance with the Public Contracts Regulations 2015. As part of its procurement process, HMRC rigorously assesses any bidders and proposed contracts to ensure their suitability to deliver this service.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government whether they will ask the Office for Budget Responsibility to examine cancer trends in the next report about fiscal risks and sustainability, with a focus on the economic implications of early intervention.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Office for Budget Responsibility (OBR) is required to prepare an analysis of the sustainability of the public finances annually, known as a Fiscal Risks and Sustainability Report (FRS), as set out in the Budget Responsibility and National Audit Act (BRNAA) 2011.
The OBR is an independent body and the BRNAA requires that the OBR performs its duties objectively, transparently and impartially. As a result, the content of the FRS is determined independently by the OBR. Previous reports by the OBR have covered health-related risks. For example, the 2024 FRS included a chapter on long-term health trends [1].
The next FRS will be published on 8 July 2025 [2].
[1] Fiscal risks and sustainability report, Office for Budget Responsibility, September 2024.
[2] Fiscal risks and sustainability 2025 due 8 July, Office for Budget Responsibility, May 2025.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what plans they have to reform 'save as you earn' and 'share incentive' plans.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government fully understands the importance of enabling employees to share in the fruits of a company’s success, and for businesses to reward and retain employees effectively. The UK share schemes are popular, generous and world leading.
A call for evidence on Save As You Earn (SAYE) and the Share Incentive Plan (SIP) ran from June to August 2023. It sought views on whether the schemes are meeting their policy objectives and opportunities to improve and simplify them.
The Government is considering the responses to the call for evidence, and is grateful to those who took the time to respond.
Asked by: Baroness Ritchie of Downpatrick (Labour - Life peer)
Question to the HM Treasury:
To ask His Majesty's Government what assessment they have made of the recommendations set out in the report The nature of our economy: Implementing the Dasgupta Review, published by the Green Alliance on 18 March.
Answered by Lord Livermore - Financial Secretary (HM Treasury)
The Government agrees with the central conclusion of the Dasgupta Review that nature, and the biodiversity that underpins it, sustains our economies, livelihoods and wellbeing. It is therefore committed to integrating nature into economic and financial decision-making, and the institutions and systems that underpin it.
The Treasury continues to make progress and explore ways to strengthen processes for assessing the climate and environmental impacts of fiscal decisions and improve the Green Book in line with emerging evidence and best practice. For example, building on the extensive guidance already provided for evaluating and monetising natural capital impacts, the Government has published updated supplementary guidance to the Green Book on Enabling a Natural Capital Approach, including additional guidance on valuing biodiversity.
The UK was one of the first countries to publish natural capital accounts as part of its National Accounts, and the Office for National Statistics will continue to implement its roadmap to ensure the further development of the natural capital accounts through to 2026.
As set out in the Budget last October, the Government is continuing to invest in the natural environment, confirming £5 billion over two years to support the transition to a more productive and environmentally sustainable agricultural sector in England, and at least £400 million for tree planting and peatland restoration to protect soils, rivers and biodiversity. To help deliver its environmental ambitions, the Government is also seeking to create the conditions to mobilise additional private finance into nature, including by driving the development of high-integrity nature markets for the UK.