theodi/ndl-core-corpus huggingface dataset:
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Source: hansard.parliament.uk (2025-09-08)

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Mr Tanmanjeet Singh Dhesi:To ask the Chancellor of the Exchequer, what recent estimate she has made of the number of property management companies that have (a) delivered services for and (b) made payments on behalf of sanctioned individuals for the (i) maintenance and (ii) management of property in the UK. \p Lucy Rigby: OFSI has not made an estimate for the information requested but robustly enforces UK sanctions where breaches are identified. OFSI imposed a penalty in September 2024 against a firm for breaches of Russia sanctions relating to property management.

Through OFSI’s enhanced capabilities and increased collaboration between government agencies, OFSI is able identify breaches proactively and is not reliant on self-reported breaches.

Since February 2022, just over 1% of all suspected breach reports submitted to OFSI were reported by property and related services firms. Meanwhile, 7% of all suspected breaches reported to OFSI by other types of firms involved property and related services firms in some capacity.

OFSI is taking concrete action to increase sanctions awareness within the sector, through direct engagement with the sector and publication of its Threat Assessment Report and guidance for letting agents.

For the Threat Assessment Report, click here: OFSI_Property_and_Related_Services_Threat_Assessment.pdf

For OFSI’s letting agents guidance, click here: Financial sanctions guidance for letting agents - GOV.UK
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Source: hansard.parliament.uk (2025-09-08)

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Sir John Hayes:To ask the Chancellor of the Exchequer, how much National Savings and Investments has spent on equipment to enable staff to work from home in each of the last three years. \p Lucy Rigby: National Savings and Investments (NS&I) is an office-based organisation with a UK presence across London, Lytham, Glasgow and Durham.

The table below shows NS&I’s spending on home working equipment for each of the three previous financial years. NS&I provides this equipment in line with its regulatory duty to minimise the risk of preventable health issues during home working.

Year

Spend

2022–23

£6,312.79

2023–24

£6,995.28

2024–25

£4,291.95
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Source: hansard.parliament.uk (2025-09-08)

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Wendy Chamberlain:To ask the Chancellor of the Exchequer, pursuant to the Answer of 22 July to Question 67982 on Social Rented Housing: Repairs and Maintenance, what the actual value is of financial guarantees issued to date by the National Wealth Fund to support social housing retrofit loans provided by (a) NatWest Group, (b) Barclays UK Corporate Bank, (c) Lloyds Banking Group and (d) The Housing Finance Corporation. \p Lucy Rigby: The National Wealth Fund have agreed to guarantee up to £1.3 billion of loans provided by NatWest, Barclays, Lloyds and The Housing Finance Corporation to upgrade social housing. To date, Barclays have signed one deal worth £50 million, and Lloyds Banking Group has signed two deals worth £160 million in total.
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Source: hansard.parliament.uk (2025-09-08)

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Callum Anderson:To ask the Chancellor of the Exchequer, what plans she has to measure the effectiveness of the Listings Taskforce in increasing the number of UK and international firms listing on UK markets. \p Lucy Rigby: The UK’s capital markets are deep and strong, delivering for firms and investors, and supporting firms to start, scale, list and stay here.

At Mansion House, the government published its Financial Services Growth and Competitiveness Strategy. This document sets out the government’s ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets as a core pillar of the strategy.
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Source: hansard.parliament.uk (2025-09-08)

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Bobby Dean:To ask the Chancellor of the Exchequer, what estimate she has made of the number of leasehold flats containing combustible material with higher insurance costs that will be classified as permanently impaired under the Basel 3.1 requirements; and if she will make a statement. \p Lucy Rigby: We understand the question relates to regulatory requirements for property valuations under Basel 3.1.

There are several changes in the Prudential Regulation Authority’s (PRA) implementation of the Basel 3.1 standards that are relevant to mortgage valuation. Banks using the standardised approach to credit risk will have to update the valuation of mortgaged properties under specific circumstances such as if five years have passed since the valuation was last updated, when a borrower refinances their mortgage at the end of a fixed period, if modifications have been made to the property that unequivocally increase its value, or an event occurs that results in a likely permanent reduction in the property’s value (‘permanent impairment’).

The PRA does not expect the changes to have a material impact on current industry practice for determining property valuations, including for properties with cladding, as the changes primarily relate to when a valuation for a given property is updated as opposed to how the valuation itself is determined.

The government does not hold data on the number of properties, including for properties with cladding, that will be required to be re-valued under the different circumstances listed above
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Source: hansard.parliament.uk (2025-09-08)

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Zöe Franklin:To ask the Chancellor of the Exchequer, if she will review the VAT exemption applied to private jet travel. \p Dan Tomlinson: It is right that the aviation sector, including private jet travel, contributes to public finances. Air Passenger Duty is the principal tax applied to private jet travel. The Government keeps all taxes under review.
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Source: hansard.parliament.uk (2025-09-08)

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Mr Richard Holden:To ask the Chancellor of the Exchequer, how many applications were made to the Chief Secretary to the Treasury under the approval of senior pay process for salaries above (a) £150,000 and (b) £174,000 since 4 July 2024; how many of those applications were (i) approved and (ii) rejected; and how many applications were (A) approved and (B) rejected for performance-related pay arrangements exceeding (1) £17,500 and (2) £25,000 since 4 July 2024. \p James Murray: Since 4 July 2024, HM Treasury has approved 200 cases under the senior pay approval process.

Following a July 2025 update to the guidance, HM Treasury approval is required for salaries above £174,000 and performance-related pay over £25,000.
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Source: hansard.parliament.uk (2025-09-08)

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Suella Braverman:To ask the Chancellor of the Exchequer, whether she plans to review the Flat Rate Scheme rules to enable small hospitality businesses to recover VAT on essential inputs. \p Dan Tomlinson: The Flat Rate Scheme aims to offer additional simplification to smaller businesses. It allows VAT to be calculated by the application of a sector-specific percentage. Users benefit by not having to account for VAT on sales and costs, instead applying a lower rate than the 20% Standard Rate of VAT.

These percentages reflect average ratios of VAT on sales and purchases for registered businesses in each sector. They vary between 4% and 16.5% to account for the different levels of normal input tax recovery. This includes the 10.5% hospitality rate.

Additionally, the Scheme allows businesses to recover VAT on the purchase of larger capital items.

We keep all taxes under review and make changes at Budget in the context of the overall public finances.
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Source: hansard.parliament.uk (2025-09-08)

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Jack Rankin:To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of UK stamp duty on the level of share trading volumes in Metlen. \p Dan Tomlinson: Stamp Duty and Stamp Duty Reserve Tax are forecast to raise up to £5.1bn per year combined to help fund vital public services. The framework of the taxes contains many reliefs and exemptions which are designed to provide a boost to growth, liquidity, and trading volumes in UK listed companies.

The government keeps this area of tax under review.
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Source: hansard.parliament.uk (2025-09-08)

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Sarah Hall:To ask the Chancellor of the Exchequer, what steps her Department has taken to ensure that the UK’s Carbon Border Adjustment does not adversely impact business competitiveness. \p Dan Tomlinson: The UK Carbon Border Adjustment Mechanism (CBAM) will give UK industry confidence to invest in their decarbonisation efforts. The CBAM will ensure highly traded, carbon intensive products from overseas face a comparable carbon price to those produced here so that UK decarbonisation efforts lead to a true reduction in global emissions rather than simply displacing carbon emissions overseas.

To ensure the costs of complying with the UK CBAM are proportionate, the UK CBAM will only apply to those importing CBAM goods valued at £50,000 or more over a rolling 12-month period. We estimate that will exclude 80% of CBAM goods but retain over 99% of imported emissions within the scope of the tax. Of those removed, over 70% are SMEs.

An assessment of CBAM impacts on the economy and businesses will be provided when the policy is final or near final, in the form of a tax information and impact note. A draft version of this is available at:

https://www.gov.uk/government/consultations/draft-legislation-carbon-border-adjustment-mechanism/draft-tax-information-and-impact-note
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Callum Anderson:To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure compliance with employment and tax regulations among cash-based businesses operating on the high street. \p Dan Tomlinson: HMRC is committed to ensuring that the tax system operates fairly and efficiently and creates a level playing field for all compliant businesses. Most businesses pay what they owe, but a minority fail to register or only declare a portion of their earnings for tax. This minority deprives our vital public services of funding, affects fair competition between businesses and places unfair burdens on everyone else.

The Government’s position is that cash is a legitimate means of paying for goods and services and continues to be used by many people across the UK. However, regardless of the type of payments a business receives, it is their responsibility to ensure they meet their tax obligations, including registering for and paying the right taxes.

HMRC are making it increasingly difficult for businesses to hide their income by using improved targeting with new data sources and risking technology, greater access to third party data and through focused compliance activity, working with other Government agencies and law enforcement.
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Source: hansard.parliament.uk (2025-09-08)

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Suella Braverman:To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the Flat Rate VAT Scheme on small independent hospitality businesses' ability to claim VAT on (a) food, (b) energy, (c) supplies and (d) other input costs. \p Dan Tomlinson: The Flat Rate Scheme offers additional simplification to smaller businesses. It allows VAT to be calculated by the application of a sector-specific percentage. These are lower than the current rate of 20% to allow for VAT on costs which cannot be claimed by scheme users.

These percentages reflect average ratios of VAT on sales and purchases for registered businesses in each sector. They vary between 4% and 16.5% to account for the different levels of normal VAT recovery. This includes the 10.5% hospitality rate. Additionally, the Scheme allows businesses to recover VAT on the purchase of larger capital items.

In this sector many costs do not attract VAT, including food which may be zero-rated and wages which are outside the scope of VAT. Energy costs may be charged a lower rate of VAT depending on usage.

The Flat Rate Scheme is optional, and each business must make its own judgement regarding the additional simplification it offers and the different VAT liability which would be declared if it were used.
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Neil Duncan-Jordan:To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of existing taxation arrangements on the lending or staking of crypto assets. \p Dan Tomlinson: The government has engaged in detail with industry on the tax treatment for the lending and staking of cryptoassets, following the previous consultation on this issue. The government will be responding to the industry in due course.
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Gareth Davies:To ask the Chancellor of the Exchequer, with reference to the consultation on Reform of Landfill Tax, what discussions her Department has had with the Environment Agency on the adequacy of its capacity to process an increase in recovery permit applications before the proposed 2027 Landfill Tax exemption removal. \p Dan Tomlinson: The government consulted on proposals for reform of landfill tax on 28 April following a call for evidence in 2021. The consultation closed on 28 July, and the government is currently considering responses.

HM Treasury is working with Defra and the Environment Agency on the proposals set out in the consultation.

The government will respond to the consultation in due course.
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Source: hansard.parliament.uk (2025-09-08)

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John Whitby:To ask the Chancellor of the Exchequer, what steps she is taking to reduce differences between the level of tax applied to (a) physical and (b) online businesses. \p Dan Tomlinson: To provide stability and predictability to both physical and online businesses, the government published its Corporate Tax Roadmap at Autumn Budget 2024. The roadmap committed to maintaining the main rate of Corporation Tax at 25%, which is the lowest in the G7, as well as a maintaining the UK’s generous R&D tax reliefs and world-leading capital allowance offer.

The Government also wants to ensure that the business rates burden is permanently rebalanced. That is why we have announced our intention to introduce permanently lower tax rates for retail, hospitality, and leisure properties, with rateable values (RVs) below £500,000 from 2026-27. This permanent tax cut will ensure that they benefit from much-needed certainty and support.

We intend to fund these through introducing a higher multiplier for the highest value properties – those with RVs of £500,000 or above. These high-value properties cover the majority of large distribution warehouses, including those used by the online giants.

The final design of the new business rate multipliers, including their rates, will be set at Budget 2025 so that the Government can take into account the upcoming revaluation outcomes, as well as the economic and fiscal context.

To ensure that digital services providers pay their fair share of UK tax, the UK introduced the Digital Services Tax (DST) which is a 2 per cent tax levied on search engines, social media platforms, and online marketplaces to reflect the value they derive from UK users.
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Source: hansard.parliament.uk (2025-09-08)

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James Naish:To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of introducing rolling revaluations (a) every three years and (b) on a regular basis to prevent significant increases in bills. \p Dan Tomlinson: The amount of business rates paid on each property is based on the Rateable Value of the property, assessed by the Valuation Office Agency (VOA), and the multiplier values, which are set by the Government. Rateable values are re-assessed every three years. The most recent revaluation took effect from 1 April 2023 and was based on values as of 1 April 2021. The next revaluation will take effect from 1 April 2026 based on values of 1 April 2024.

The Government provides transitional relief to support ratepayers seeing large bill increases as a result of revaluations. The Government will announce details on the transitional relief scheme for the 2026 revaluation at Budget 2025, in light of the revaluation outcomes.
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Neil Duncan-Jordan:To ask the Chancellor of the Exchequer, if she will publish the most recent statement of accounts for the National Insurance Fund. \p Dan Tomlinson: The most recent statement of accounts for the GB and NI National Insurance Funds were published on 27 November 2024 and relate to the 2023-24 financial year. The respective National Insurance Fund accounts for the 2024-25 financial year will be published shortly.
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Gareth Davies:To ask the Chancellor of the Exchequer, with reference to the HM Treasury press release entitled Chancellor pledges to unlock growth in Cornwall, published on 29 July 2025, whether the Government expects to provide additional public funding to support the reopening of the South Crofty Tin mine. \p James Murray: The National Wealth Fund made a £28.6 million equity investment in the South Crofty tin mine to help de-risk the project and enable it to secure additional financing to operationalise the mine. The investment supports the continued growth and sustainability of Cornwall’s mining sector. The National Wealth Fund will continue to explore opportunities to support the South Crofty tin mine alongside private sector investment.
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Neil Duncan-Jordan:To ask the Chancellor of the Exchequer, if she will consider introducing a 2 per cent levy on football transfers over £10 million. \p James Murray: The government is committed to ensuring the long-term health of English football at all levels. At this moment in time, the government is not considering a levy on football transfers.
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Callum Anderson:To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the adequacy of VAT treatment rules in the digital advertising market for UK-based small businesses. \p Dan Tomlinson: UK VAT is charged on the domestic and cross-border supply of digital advertising services to UK businesses. The Government keeps the application and adequacy of the UK’s VAT regime under regular review.
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Alicia Kearns:To ask the Chancellor of the Exchequer, whether her Department plans to review the monthly salary sacrifice cap for existing users of the childcare voucher scheme, in the context of (a) cumulative inflation and (b) increased average childcare costs since the threshold was last set. \p James Murray: Childcare Vouchers are now closed to new entrants, and the Government has no plans to reopen or reform them. Existing users can continue to use them as long as they remain with their current employer, the employer continues to offer Vouchers, and their contract of employment remains the same.
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Mr Richard Holden:To ask the Chancellor of the Exchequer, with reference to the document entitled Fixing the foundations: Public spending audit 2024-25, published on 29 July 2024, if she will publish the (a) equality impact assessment, (b) strategic environmental assessment and (b) environmental principles assessment produced for the Ministerial decision to cancel the Restoring Your Railway fund. \p James Murray: On 8 July 2024, the Chancellor of the Exchequer instructed HM Treasury officials to undertake a audit of public spending. The audit’s findings showed a forecast overspend on departmental spending of £21.9 billion above the resource departmental expenditure limit (RDEL) totals that had been set at Spring Budget 2024.

Taking immediate action to respond to the spending pressure, the government cancelled the Restoring Your Railway programme as a cost-saving measure of £85 million.

HM Treasury carefully considers the impact of its decisions on those sharing protected characteristics in line with both our legal obligations and with our commitment to promoting fairness.

HM Treasury also carefully considers the environmental impacts of decisions in line with the environmental principles policy statement duty and the recognition of long-term environmental targets to tackle climate change.
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Sarah Hall:To ask the Chancellor of the Exchequer, what steps her Department is taking to reduce levels of (a) poverty and (b) economic inequality in the North West; and what recent assessment she has made of trends in the level of regional disparities in (i) income and (ii) living standards. \p James Murray: The Government has set out a Plan for Change that includes raising living standards in every part of the United Kingdom. To deliver this, we have taken action to support households facing the greatest hardships by increasing the National Living Wage by 6.7%, introducing a Fair Repayment Rate to cap deductions from Universal Credit, uplifting the Universal Credit standard allowance to 5% above CPI by 2029-30, and expanding the Warm Homes Discount to every billpayer on means-tested benefits. Furthermore, at the Spending Review we expanded Free School Meals to lift 100,000 children out of poverty, funded the biggest boost to social and affordable housing in a generation, provided £1bn a year (including Barnett impact) for a new Crisis and Resilience Fund, and extended the £3 Bus Fare Cap in England. This is in addition to investing in 350 deprived communities across the UK, to fund interventions including regeneration, community cohesion and improving the public realm.

The Government is also investing in infrastructure in the North West to spur economic growth, boost wages and increase living standards, providing £4.1bn to the North West via the Transport for City Regions fund. It has recommitted to £160m of funding over 10 years for Investment Zones in Greater Manchester and Liverpool, and reconfirmed support for Liverpool City Region Freeport. Local partners expect Greater Manchester Investment Zone to deliver £1.1 bn in private sector investment and 32,000 jobs, and expect Liverpool City Region’s Investment Zone to generate £320m in private investment and 4,000 jobs.

The latest Office for National Statistics data shows that in 2022 Gross Disposable Household Income (GDHI) per head was £19,752 in the North West compared to £22,789 for the UK. The Plan for Change sets out that living standards at a regional level is measured by regional Gross Domestic Product (GDP) per head. The latest ONS data shows that GDP per head, in real terms (2022 prices), was £33,170 per head in the North West and £37,135 per head for the UK in 2023. GDP per head was £23,555 per head in the North West in 1998 compared to £28,570 for the UK.
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Mr Richard Holden:To ask the Chancellor of the Exchequer, pursuant to the Answer of 9 July 2025 to Question 65151 on Permanent Secretaries: Pay, which two Permanent Secretary roles were approved; and what the salaries were. \p James Murray: Since July 2024, HM Treasury and Cabinet Office have approved two Permanent Secretary roles to exceed the Permanent Secretary pay band; one in each the Department of Health and Social Care and Foreign, Commonwealth and Development Office.
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Edward Morello:To ask the Chancellor of the Exchequer, what the average administrative cost is of collecting VAT from a VAT-registered company. \p Dan Tomlinson: HMRC calculate annually the cost to collect £1 of VAT. In 2024-25, it cost 0.58 pence, i.e. less than one penny, to collect £1 of VAT on average. This ratio has been broadly stable over recent years.

Cost of Collection - VAT - 5 year Trend from 2020-2021 to 2024-2025

2020-2021

2021-2022

2022-2023

2023-2024

2024-2025

pence

pence

pence

pence

pence

VAT

0.63

0.52

0.54

0.58

0.58
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James MacCleary:To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of removing Part 6 paragraph 6.2 of the Valuation Office Agency's Council Tax manual. \p Dan Tomlinson: The VOA do not provide estimated Council Tax bands on request because it would need to undertake a full band assessment of a property to provide an accurate estimate, and because it does not have a statutory obligation to do so.

As its policy on providing estimated Council Tax bands has not changed, and is accurately reflected in the Council Tax manual, it is not considering removing Part 6, paragraph 6.2
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Charlie Dewhirst:To ask the Chancellor of the Exchequer, pursuant to the Answer of 4 August 2025 to Question HL9820 on Cryptocurrencies, whether the Government’s crypto-asset holdings are deemed to be held in the Consolidated Fund under the Exchequer and Audit Departments Act 1866; and what the Government’s methodology is for valuing crypto-assets. \p James Murray: The Consolidated Fund is a sterling denominated fund and therefore does not hold cryptocurrencies. Departments are responsible for applying relevant accounting standards on a case by case basis to value any assets held.
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Lee Anderson:To ask the Chancellor of the Exchequer, if she will make an estimate of the projected interest costs to the taxpayer of the £11.6 billion in overseas climate aid. \p James Murray: The UK has committed to deliver £11.6bn of International Climate Finance (ICF3) to support developing countries’ climate mitigation and adaptation action from Financial Year 2021/22 to Financial Year 2025/26.

The Office for Budget Responsibility produces forecasts for interest costs in the round as part of its independent official forecast.
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Lee Anderson:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of levels of borrowing to fund international climate finance on the debt to GDP ratio. \p James Murray: The UK’s current international climate finance commitment of £11.6bn from Financial Year 2021/22 to Financial Year 2025/26 (ICF3) is funded from the government’s Official Development Assistance (ODA) budget.

The ODA budget is accounted for as part of the UK's overall fiscal plans which is moving to a position where day-to-day spending is met with tax revenues, so that the government is only borrowing for investment.
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Mr Richard Holden:To ask the Chancellor of the Exchequer, pursuant to the Answer of 1 July 2025 to Question 62994 on Defence: Expenditure, whether expenditure on (a) transport and (b) broadband networks are within the scope of spending on critical infrastructure. \p James Murray: As set out in the Government's answer of 1 July to Question 62994 on Defence: Expenditure, the Government defines defence and national security spending in line with NATO's definition. NATO's definition of defence and security related expenditure includes areas such as strengthening the defence industrial base and our energy security, enhancing civil preparedness and resilience, and countering hybrid treats.
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Graham Leadbitter:To ask the Chancellor of the Exchequer, whether her Department has provided guidance on government departments analogising UK Government expenditure to household budgets. \p James Murray: HM Treasury has not provided guidance to other government departments comparing UK Government expenditure to household budgets.
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Sarah Hall:To ask the Chancellor of the Exchequer, whether her Department plans to provide longer-term capital funding settlements for Government departments to support the (a) maintenance and (b) renewal of public service facilities. \p James Murray: The government has, for the first time, announced long-term maintenance budgets for the health, education, and justice estates as part of the 10 Year Infrastructure Strategy.

This protects departments’ maintenance budgets in real terms, delivering at least £10 billion per year by 2034-35 to maintain and repair health, education and justice infrastructure.

This is in addition to significant investment in rebuilding assets and delivering additional capacity where it is needed – such as almost £20 billion in the School Rebuilding Programme and up to £24 billion in the New Hospital Programme over the next 10 years.
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Edward Morello:To ask the Chancellor of the Exchequer, whether HMRC defines SSIPs as pension assets for the purposes of (a) means-tested benefits and (b) financial assessments. \p Dan Tomlinson: The treatment of Self-Invested Personal Pensions (SIPPs) for the purposes of means-tested benefits and financial assessments does not fall within HMRC’s remit. HMRC’s role is to define and regulate pension schemes for tax purposes, including SIPPs, which may be registered pension schemes under the Finance Act 2004.

Decisions regarding the treatment of pension assets in means-tested benefits are a matter for the Department for Work and Pensions (DWP), while financial assessments for adult social care are administered by local authorities under guidance from the Department of Health and Social Care (DHSC).

HMRC does not define SIPPs as assets for the purposes of benefit entitlement or financial assessments. Any determination of how such pensions are treated in those contexts should be sought from the relevant departments.
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Dr Al Pinkerton:To ask the Chancellor of the Exchequer, whether she has conducted an impact assessment of the reduction of stamp duty thresholds on homeowners in Surrey Heath constituency. \p Dan Tomlinson: No assessment has been made of the impact at individual constituency level.
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Source: hansard.parliament.uk (2025-09-08)

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Neil Duncan-Jordan:To ask the Chancellor of the Exchequer, how many additional rate taxpayers have left the UK in relation to their tax liabilities in the last 12 months up to 1 August 2025. \p Dan Tomlinson: Taxpayers are not always required to inform HM Revenue and Customs when they leave the UK. Some taxpayers outside of Self Assessment might file a P85 form after leaving the UK, but only where they are seeking to claim a repayment of income tax.

Taxpayers in Self Assessment can indicate that they have become non-resident after leaving the UK, but tax returns for the 2024 to 2025 and the 2025 to 2026 tax years are not due to be received by HMRC until 31 January of 2026 and 2027 respectively.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_165

Perran Moon:To ask the Chancellor of the Exchequer, what discussions she has had with energy companies on the potential merits of policy cost rebalancing on energy bills to incentivise the uptake of low-carbon technologies. \p James Murray: Treasury Ministers and officials have regular meetings with a wide variety of organisations in the public and private sector, including energy companies, on an ongoing basis.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_166

Gareth Davies:To ask the Chancellor of the Exchequer, with reference to the press release entitled Chancellor pledges to unlock growth in Cornwall, published on 29 July 2025, whether the £28.6 million investment into Cornish Metals by the National Wealth Fund had previously been committed to by the UK Infrastructure Bank before 4 July 2024. \p James Murray: The commitment to invest £28.6 million into Cornish Metals was made by the National Wealth Fund and announced on 28th January 2025. The investment is separate to the £24 million equity investment into Cornish Lithium announced on 23rd August 2023 by the UKIB
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_167

Gareth Davies:To ask the Chancellor of the Exchequer, with reference to the Government press release entitled Sizewell C gets green light with final investment decision, published on 22 July 2025, for what reason the Government's funding for Sizewell C will be made through the National Wealth Fund. \p James Murray: The National Wealth Fund is the provider of the Government’s loan for Sizewell C. This enables the project to benefit from the NWF’s operationally independent infrastructure finance expertise. Sizewell C is also a strong fit with the NWF’s mandate, as one of the UK’s top clean energy priorities, and will bring significant regional economic growth benefits.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_168

Gareth Davies:To ask the Chancellor of the Exchequer, with reference to the press release entitled Chancellor pledges to unlock growth in Cornwall, published on 29 July 2025, what proportion of the jobs created by the reopening of the South Crofty Tin Mine will be directly employed by Cornish Metals; and on what evidential basis her Department calculated the indirect employment figures referenced in that press release. \p James Murray: Cornish Metals expect over 300 direct jobs to be created at South Crofty mine, with up to a further 1,000 indirect jobs being created to support the mining operation. The employment figures referenced in the HM Treasury press release were provided by Cornish Metals in their Preliminary Economic Assessment of the South Crofty project. This can be found on Cornish Metals’ website: https://cornishmetals.com/projects/uk/south-crofty/.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_169

Neil Duncan-Jordan:To ask the Chancellor of the Exchequer, whether overall receipts from National Insurance were higher in June 2025 than June 2024. \p Dan Tomlinson: Monthly receipts for National Insurance Contributions are published in HMRC tax receipts and National Insurance Contributions for the UK statistics publication. Provisional National Insurance receipts in June 2025 were £15,296m, higher than the £12,988m reported for June 2024.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_170

Gregory Stafford:To ask the Chancellor of the Exchequer, whether her Department has conducted a risk or opportunity assessment of the potential strategic use of seized Bitcoin assets as part of the UK's financial reserves. \p Lucy Rigby: Under the Proceeds of Crime Act, which sets out necessary steps for the management and realisation of assets, the seizure, recovery and management of Bitcoin assets is subject to consideration of independent law enforcement and the courts.

There are no currently plans to amend the Act to divert seized coins to a centrally held fund or reserve.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_171

Gregory Stafford:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of bank branch closures on older people’s access to cash. \p Lucy Rigby: The Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses.

The Financial Conduct Authority (FCA) assumed regulatory responsibility for access to cash in September 2024. Its rules ensure cash continues to be a viable method of payment for the millions of people who depend on it and requires the reasonable provision of free cash withdrawal and deposit facilities for personal current accounts.

The Government is also working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this parliament. These hubs will provide small businesses and individuals with critical access to cash. Over 180 Banking Hubs are already open across the UK.

The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK.

While branch closures are commercial decisions for banks, the Financial Conduct Authority (FCA) guidance expects firms to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and put in place alternatives where reasonable. This seeks to ensure that branch closures are implemented in a way that treats customers fairly.

Where a resident, community organisation or other interested party feels access to cash in their community is insufficient, they can submit a request for a cash access assessment to LINK, the industry appointed coordinating body responsible for carrying out assessments. Further information about submitting a cash access request can be found on LINK’s website.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_172

Blake Stephenson:To ask the Chancellor of the Exchequer, if she will make an assessment of the impact of her Budget in 2024 on the performance of AIM shares. \p Lucy Rigby: The UK’s capital markets play a key role in delivering on the government’s growth mission. We have already delivered an ambitious set of reforms to make it easier for firms to start, scale, list and stay on UK markets, and capital markets are a core pillar of the Financial Services Growth and Competitiveness Strategy, launched at Mansion House.

The Government maintains a range of targeted tax reliefs for AIM shares, supporting capital raising for business listed on AIM, and investors in AIM shares. This supports growth on the broader UK economy.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_173

Joe Morris:To ask the Chancellor of the Exchequer, what steps she plans to take to measure the impact of the Financial Inclusion Strategy. \p Lucy Rigby: The development of the Financial Inclusion Strategy has been informed by a committee whose members are drawn from a range of organisations across the financial services sector and civil society. In addition, three sub-committees were established to inform specific areas of focus and similarly include a range of sector and civil society representatives. This reflects the fact that the successful delivery of the strategy will require a joined-up approach to achieve.

More widely, the Government has been engaging extensively with interested stakeholders, including industry and consumer representatives, to ensure the strategy is informed by a range of expertise and experience.

The strategy will be published later this year and will seek to tackle a range of barriers consumers face in accessing financial services and products. As part of developing the strategy, the Government is considering how to measure its impact.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_174

Christine Jardine:To ask the Chancellor of the Exchequer, if she will take steps to help ensure that consumers impacted by mis-sold car finance deals receive compensation. \p Lucy Rigby: The Supreme Court has now clarified the law in relation to commission practices in the motor finance sector. The government respects the Supreme Court’s judgment and is working closely with the Financial Conduct Authority and Prudential Regulation Authority to understand the impact for both firms and consumers.

The government notes the recent statement by the Financial Conduct Authority that it will be consulting on a consumer redress scheme in October. The FCA propose that the scheme covers discretionary commission arrangements - a practice banned in 2021 that allowed dealers to vary interest rates for higher commissions. The FCA will also consult on which non-discretionary commission agreements should be included.
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_175

Dame Harriett Baldwin: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. \p Lucy Rigby: 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:
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Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_176

Richard Tice:To ask the Chancellor of the Exchequer, if she will hold discussions with the Financial Conduct Authority on the steps it is taking to ensure that all consumers who were mis-sold car finance are fully compensated. \p Lucy Rigby: The Supreme Court has now clarified the law in relation to commission practices in the motor finance sector. The government respects the Supreme Court’s judgment and is working closely with the Financial Conduct Authority and Prudential Regulation Authority to understand the impact for both firms and consumers.

The government notes the recent statement by the Financial Conduct Authority that it will be consulting on a consumer redress scheme in October. The FCA propose that the scheme covers discretionary commission arrangements - a practice banned in 2021 that allowed dealers to vary interest rates for higher commissions. The FCA will also consult on which non-discretionary commission agreements should be included.
wrans/answers2025-09-08 conversation_177
Source: hansard.parliament.uk (2025-09-08)

UK Parliament Hansard data: wrans/answers2025-09-08 conversation_177

Lee Anderson:To ask the Chancellor of the Exchequer, with reference to the Office for National Statistics’ dataset entitled Business demography quarterly, UK Quarter 2 April to June 2025 edition, if she will consider the effectiveness of the Family Farm Tax policy. \p Dan Tomlinson: The Government believes its reforms to agricultural property relief and business property relief from 6 April 2026 get the balance right between supporting farms and businesses, and fixing the public finances. The reforms reduce the inheritance tax advantages available to owners of agricultural and business assets, but still mean those assets will be taxed at a much lower effective rate than most other assets. Despite a tough fiscal context, the Government will maintain very significant levels of relief from inheritance tax beyond what is available to others and compared to the position before 1992. Where inheritance tax is due, those liable for a charge can pay any liability on the relevant assets over 10 annual instalments, interest-free.

The Government has set out that the reforms are expected to result in up to 520 estates claiming agricultural property relief, including those also claiming business property relief, paying more inheritance tax in 2026-27. Almost three-quarters of estates claiming agricultural property relief, including those that also claim for business property relief, will not pay any more tax as a result of the changes in 2026-27, based on the latest available data.

The reforms to agricultural property relief and business property relief are forecast to raise a combined £520 million in 2029-30. The independent Office for Budget Responsibility certified this costing at Autumn Budget 2024 and it does not expect the reforms to have a significant macroeconomic impact.