Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of a 10% tariff on UK exports to the US on her Department's fiscal headroom.

On 8 May 2025, the government concluded a landmark economic deal with the United States. The Economic Prosperity Deal will reduce tariffs for UK exporters in critical sectors, will protect thousands of jobs in key British industries, and help drive economic growth. This is just the beginning of the process – with the US agreeing to deepen transatlantic trade and investment further.

The Chancellor has always been clear that the fiscal rules are non-negotiable and the OBR confirmed in their March forecast that the government is on track to meet them.