Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions she has with Mansion House Accord signatories on publishing firm-by-firm assessments of commitments made versus capital deployed.
Answered by Torsten Bell - Parliamentary Secretary (HM Treasury)
The organising bodies of the Accord have committed to working with government and regulators to ensure that data demonstrating progress against the Accord will be tracked.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the data-gathering requirements needed to support future green bond issuances.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
In 2024-25, the government raised £10.0 billion through green gilts and green savings bonds. The government plans to issue a total of £10.0 billion of green finance in 2025-26, subject to demand and market conditions. The amount of Green Financing to be issued in each financial year will be announced by HM Treasury as part of the annual government financing remit.
The Green Financing Framework, published in 2021 and updated in 2025, explains how proceeds from green gilts and NS&I’s retail Green Savings Bonds will finance public expenditures that demonstrate a direct and positive environmental impact.
The Framework includes guidelines on the types of expenditures that can be included in the Programme and commits the government to annual allocation reporting. Eligible expenditures are drawn from departments’ confirmed Spending Review settlements and assessed on the basis of their contribution to the government’s climate and environmental objectives. Details of the allocation of expenditure are normally published each year in the Green Financing Allocation Report, most recently published in October2024.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what processes HM Treasury uses to co-ordinate Green Financing Framework reporting with other government departments.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
In 2024-25, the government raised £10.0 billion through green gilts and green savings bonds. The government plans to issue a total of £10.0 billion of green finance in 2025-26, subject to demand and market conditions. The amount of Green Financing to be issued in each financial year will be announced by HM Treasury as part of the annual government financing remit.
The Green Financing Framework, published in 2021 and updated in 2025, explains how proceeds from green gilts and NS&I’s retail Green Savings Bonds will finance public expenditures that demonstrate a direct and positive environmental impact.
The Framework includes guidelines on the types of expenditures that can be included in the Programme and commits the government to annual allocation reporting. Eligible expenditures are drawn from departments’ confirmed Spending Review settlements and assessed on the basis of their contribution to the government’s climate and environmental objectives. Details of the allocation of expenditure are normally published each year in the Green Financing Allocation Report, most recently published in October2024.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what estimate she has made of the proportion of future sovereign financing expected to be raised under the Green Financing Framework.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
In 2024-25, the government raised £10.0 billion through green gilts and green savings bonds. The government plans to issue a total of £10.0 billion of green finance in 2025-26, subject to demand and market conditions. The amount of Green Financing to be issued in each financial year will be announced by HM Treasury as part of the annual government financing remit.
The Green Financing Framework, published in 2021 and updated in 2025, explains how proceeds from green gilts and NS&I’s retail Green Savings Bonds will finance public expenditures that demonstrate a direct and positive environmental impact.
The Framework includes guidelines on the types of expenditures that can be included in the Programme and commits the government to annual allocation reporting. Eligible expenditures are drawn from departments’ confirmed Spending Review settlements and assessed on the basis of their contribution to the government’s climate and environmental objectives. Details of the allocation of expenditure are normally published each year in the Green Financing Allocation Report, most recently published in October2024.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of limiting interest-earning reserves on the commercial viability of pound-backed stablecoins.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.
That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.
This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the regulatory approach on investor adoption of pound sterling based stablecoins.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.
That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.
This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what discussions she has had with regulators on permitting multi-jurisdiction reserve models for pound sterling stablecoin issuance.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.
That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.
This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of restricting stablecoin use in wholesale markets on the development of tokenised settlement systems.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.
That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.
This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.
Asked by: Callum Anderson (Labour - Buckingham and Bletchley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps is taking to support UK participation in digital settlement markets.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government is committed to making the UK a global hub for digital assets. It recognises the huge potential posed by tokenised asset innovation, and for stablecoins to support innovation in both retail payments and wholesale settlement.
That is why the government is bringing in legislation to establish a new financial services regulatory regime for cryptoassets, including stablecoin, and maintaining a close and ongoing dialogue with the financial regulators as they develop detailed rules and guidance.
This legislation complements other measures being taken forward by the government on digital assets, including: the Digital Securities Sandbox, which supports settlement using distributed ledger technology; the Digital Gilt Instrument pilot issuance; and the publication of the Wholesale Financial Markets Digital Strategy.