Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, which budget line is funding the contributions agreed to rejoin Erasmus Plus in the Spending Review period.
Answered by James Murray - Chief Secretary to the Treasury
As usual, any changes to Departmental Expenditure Limits will be included in a future OBR fiscal forecast.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what is the estimated impact of the proposed Carbon Border Adjustment Mechanism on the competitiveness of UK steel exports.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
From 1 January 2027, the UK Carbon Border Adjustment Mechanism (CBAM) will apply to specific goods imported from the aluminium, cement, fertiliser, hydrogen, and iron & steel sectors.
The UK CBAM is designed to address the risk of carbon leakage and to ensure that CBAM goods which are imported from overseas face a comparable carbon price to what is paid by manufacturers producing the same goods in the UK.
The UK CBAM does not apply to UK exports. Therefore, the UK CBAM is not expected to have an impact on the competitiveness of UK steel exports.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, further to Question 93370, if she will commission from HMRC an analysis of the tax contribution of the British nationals the ONS estimates have left the UK since July 2024.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
HMRC does not hold data on all income sources of all individuals that have left the UK, and incomes of individuals vary each year. Individuals who have chosen to leave the UK may still be liable to pay tax in the UK.
HMRC published analysis on Income Tax Liabilities and Statistics annually. Income Tax statistics and distributions - GOV.UK
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the answer of 26 June to Question 61930, how many P85 forms have been submitted in each month from May 2025 to date.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The table below shows the number of P85 forms submitted to HMRC electronically from May 2025 to September 2025.
Month | P85 iForms |
May 2025 | 4,500 |
June 2025 | 4,500 |
July 2025 | 4,900 |
August 2025 | 5,200 |
September 2025 | 6,300 |
Figures rounded to 100
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what analysis she has commissioned from HMRC of the tax contribution made by the 257,000 British nationals who the ONS estimates left the UK in 2024.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
The Chancellor has not commissioned any analysis from HMRC on the tax contribution of the ONS estimate of 257,000 British nationals who left the UK in 2024.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the increase to the Energy Profits Levy announced in the Autumn Statement 2024 on (a) investment, (b) employment and (c) operations in the oil and gas sector.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
At Autumn Budget 2024 the government confirmed that from 1 November 2024, the Energy Profits Levy (EPL) rate would increase by 3 percentage points to 38%, the EPL investment allowance would be abolished, and the EPL decarbonisation allowance rate would be adjusted to 66%. The government also confirmed an extension to the period the levy applies from 31 March 2029 until 31 March 2030. To support jobs in future and existing industries, including in the supply chain, the government decided to make no additional changes to the availability of capital allowances in the EPL. Following these changes the overall level of tax relief available to the oil and gas sector for capital investments is £84.25 for every £100 of investment, with additional relief available for decarbonisation expenditure.
At the time of the announcements the government carefully considered the impact of these EPL changes. The summary of impacts for these changes can be found here: https://www.gov.uk/government/publications/energy-profits-levy-reforms-2024.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether repatriations by non-residents using the Temporary Repatriation Facility will be subject to the (a) general anti-abuse rule, (b) transfer of assets abroad rule and (c) transfer of income streams rule.
Answered by Dan Tomlinson - Exchequer Secretary (HM Treasury)
Non-UK residents cannot use the Temporary Repatriation Facility, it is only available to individuals that have both previously benefitted from the remittance basis and are tax resident in the UK in the year in which they make the election. Tax residence is determined by the Statutory Residence Test.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to her Mansion House speech on 15 July 2025, what deregulatory steps her Department has taken as part of the commitment to roll back regulations that have gone too far since 15 July 2025.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
The government is not aiming to deregulate, but to upgrade the UK regulatory system so that it does not unduly hold back economic growth.
The UK will remain a global leader in promoting high industry standards that deliver for businesses and consumers across the UK, but the Chancellor’s speech recognised that there is a need for a rebalancing of our system – retaining important protections whilst pushing for growth and investment.
The Leeds Reforms, announced alongside the Chancellor’s Mansion House speech on 15 July, included:
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of the UK-US trade deal on financial services.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
The US is our single largest financial services trading partner and relations are strong. As hosts of the top two global financial hubs, both nations benefit from deep, global financial markets and strong trade ties.
The General Terms for the UK-US Economic Prosperity Deal agreed on 8 May confirm that we will negotiate digital trade provisions that include financial services. The General Terms can be found here. However these General Terms are only the first step in our negotiations on a wider economic deal.
The Government will provide further updates as appropriate.
Asked by: Harriett Baldwin (Conservative - West Worcestershire)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment she has made of the fiscal impact of the US-UK trade deal.
Answered by Emma Reynolds - Secretary of State for Environment, Food and Rural Affairs
On 8 May 2025, the Prime Minister and the President concluded a landmark economic deal between the United Kingdom and the United States. The deal was defined in the General Terms for the Economic Prosperity Deal (EPD). On 16 June, the Prime Minister and the President agreed further progress towards that goal and the initial implementation of commitments.
The Office for Budget Responsibility is the government's official forecaster responsible for assessing the UK economic and fiscal outlook. The OBR will publish its next official forecast in the Autumn.