Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent assessment her Department has made of the potential impact of ending the crown exemption for the Duchy of (a) Lancaster and (b) Cornwall on reducing the budget deficit.
Answered by James Murray - Chief Secretary to the Treasury
The income from the Duchies of Lancaster and Cornwall forms part of the King’s and Prince of Wales’s private income. The tax treatment of that income is as set out in the in the Memorandum of Understanding on Royal Taxation, which can be found at: www.gov.uk/government/publications/memorandum-of-understanding-on-royal-taxation-2023
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what consideration her Department has given to ending the crown exemption for the Duchy of Lancaster and Duchy of Cornwall.
Answered by James Murray - Chief Secretary to the Treasury
The income from the Duchies of Lancaster and Cornwall forms part of the King’s and Prince of Wales’s private income. The tax treatment of that income is as set out in the in the Memorandum of Understanding on Royal Taxation, which can be found at: www.gov.uk/government/publications/memorandum-of-understanding-on-royal-taxation-2023
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent steps she has taken to seize frozen Russian assets and use them to resource Ukraine.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The Government remains determined to ensure Russia is held accountable for the damage it has caused, and continues to cause, in Ukraine.
We will continue work and coordinate with G7 and EU partners to ensure that Ukraine gets the funding it needs, ensuring any options developed by the Government are in line with international law.
We continue to pledge that Russia's sovereign assets will remain immobilised until they cease the war and pay compensation to Ukraine.
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of funding British content creators through the taxation of online platforms.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
We support domestic film and TV production through the tax system and through funding.
The Audio-Visual Expenditure Credit (AVEC) provides companies with a generous tax credit worth 34 per cent of their UK production costs on a film or high-end TV programme, or 39 per cent of their production costs on an animation or children’s TV programme.
As of 1 April 2025, films with a UK lead writer or director and budgets of under £23.5 million are able to claim an enhanced 53 per cent rate of AVEC on up to £15m of core expenditure. This applies to expenditure incurred from 1 April 2024. This will support the next generation of independent films and help develop a pipeline of UK film talent.
Film and TV are priority sub-sectors for our Industrial Strategy, and the Department for Culture, Media and Sport (DCMS) have committed to a new £75 million Screen Growth Package over three years to develop independent UK screen content, support inward investment, and showcase the best of UK and international film. This includes a scaled-up £18 million per year UK Global Screen Fund (2026–2029) to develop international business capabilities, enable co-productions and distribute independent UK screen content.
The Government wants to ensure that there is a balanced film and TV sector and welcomes international investment, including from subscription video-on-demand platforms. We therefore have no plans to introduce additional taxes or levies on these services. However, DCMS will continue to engage with major streaming services, with the independent production sector and with public service broadcasters on how best to ensure mutually beneficial conditions for all parties.
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to help maintain (a) high street banks and (b) other non-digital alternatives to banking.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
Banking is changing, with many customers benefitting from the ease and convenience of remote banking. However, Government understands the importance of face-to-face banking to communities and is committed to championing sufficient access for customers. In addition to traditional bank branches, the financial services industry is committed to rolling out 350 banking hubs across the UK by the end of this Parliament. Over 240 hubs have been announced so far, and more than 190 are already open. Government is working closely with industry on this commitment.
While decisions on branch provision are commercial decisions for banks themselves, Financial Conduct Authority guidance requires firms to conduct a robust impact analysis. Firms must show they have considered customer needs and identified potential reasonable alternatives. The FCA also expects engagement with stakeholders at least 12 weeks before closure and firms must ensure that any replacement services, such as banking hubs, are in place before a branch closes. These measures aim to ensure closures are implemented fairly and transparently.
As well as bank branches, alternative non-digital options to access everyday banking services include telephone banking and the Post Office. The Post Office Banking Framework allows personal and business customers of participating banks to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK. Beyond branches, banking hubs and Post Office services, some banks also provide points of access through initiatives such as pop-up services in libraries and community centres, or mobile banking vans serving remote areas. The Government supports initiatives which give customers access to in-person banking, as well as digital access.
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, which 20 companies made the largest tax contributions to the Exchequer in the 2024-25 financial year.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HM Revenue and Customs are unable to disclose which 20 companies made the largest tax contributions to the Exchequer in the 2024-25 financial year.
To do so would be a breach of HM Revenue and Customs’ duty of taxpayer confidentiality.
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to help mitigate the potential impact of moving the Valuation Office Agency into HMRC on the timely processing of cases.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The VOA is meeting the majority of its performance targets. In the areas where it isn’t, it has robust service recovery plans in place. These include moving staff to where there is the greatest customer demand and upskilling its workforce in a wider range of casework, to ensure greater flexibility. It continues to prioritise any cases where a customer is facing financial hardship.
The VOA proactively contacts customers, through direct email or automated updates sent as cases progress through a service.
The VOA reports monthly on performance to the HMRC Executive Committee and Board. The decision to move the VOA’s functions into HMRC next year will strengthen direct accountability to ministers.
Integration is being carefully managed by a joint HMRC and VOA team, with detailed transition plans in place and appropriate oversight from my department.
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to help people track the progress of cases pending with the Valuation Office Agency.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The VOA is meeting the majority of its performance targets. In the areas where it isn’t, it has robust service recovery plans in place. These include moving staff to where there is the greatest customer demand and upskilling its workforce in a wider range of casework, to ensure greater flexibility. It continues to prioritise any cases where a customer is facing financial hardship.
The VOA proactively contacts customers, through direct email or automated updates sent as cases progress through a service.
The VOA reports monthly on performance to the HMRC Executive Committee and Board. The decision to move the VOA’s functions into HMRC next year will strengthen direct accountability to ministers.
Integration is being carefully managed by a joint HMRC and VOA team, with detailed transition plans in place and appropriate oversight from my department.
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure the Valuation Office Agency processes cases in a timely manner.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The VOA is meeting the majority of its performance targets. In the areas where it isn’t, it has robust service recovery plans in place. These include moving staff to where there is the greatest customer demand and upskilling its workforce in a wider range of casework, to ensure greater flexibility. It continues to prioritise any cases where a customer is facing financial hardship.
The VOA proactively contacts customers, through direct email or automated updates sent as cases progress through a service.
The VOA reports monthly on performance to the HMRC Executive Committee and Board. The decision to move the VOA’s functions into HMRC next year will strengthen direct accountability to ministers.
Integration is being carefully managed by a joint HMRC and VOA team, with detailed transition plans in place and appropriate oversight from my department.
Asked by: Cameron Thomas (Liberal Democrat - Tewkesbury)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment has she made of the volume of cases waiting to be considered by the Valuation Office Agency.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The VOA is meeting the majority of its performance targets. In the areas where it isn’t, it has robust service recovery plans in place. These include moving staff to where there is the greatest customer demand and upskilling its workforce in a wider range of casework, to ensure greater flexibility. It continues to prioritise any cases where a customer is facing financial hardship.
The VOA proactively contacts customers, through direct email or automated updates sent as cases progress through a service.
The VOA reports monthly on performance to the HMRC Executive Committee and Board. The decision to move the VOA’s functions into HMRC next year will strengthen direct accountability to ministers.
Integration is being carefully managed by a joint HMRC and VOA team, with detailed transition plans in place and appropriate oversight from my department.