theodi/ndl-core-corpus huggingface dataset:
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Noah Law:To ask the Chancellor of the Exchequer, if she will make an assessment with Cabinet colleagues of the potential merits of providing the Home Office with a (a) reduced and (b) flat cash settlement for in-donor refugee costs. \p Darren Jones: The Government is committed to ensuring that asylum costs fall and the Home Secretary has reduced in-donor refugee costs by taking action to reduce the asylum backlog and seeking to end the use of costly asylum hotels. We therefore anticipate further reductions to in-donor refugee costs in the next Spending Review period.

The Home Office’s Spending Review settlement will be subject to agreement with HM Treasury in the usual way.
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Source: hansard.parliament.uk (2025-03-03)

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John Glen:To ask the Chancellor of the Exchequer, how many times the new Chair of the Office for Value for Money has formally met with (a) the Chancellor and (b) the Chief Secretary to the Treasury. \p Darren Jones: David Goldstone CBE was appointed as the independent Chair of the Office of Value for Money on 30 October 2024. His published terms of reference state that he will have monthly regular check-ins with the Chief Secretary to the Treasury, and that he will provide a regular update to the Chancellor of the Exchequer.

Since his appointment, the Chair has provided regular updates to the Chancellor and me on his progress. As part of this, the Chair has had three meetings with me; and one meeting with the Chancellor.
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John Glen:To ask the Chancellor of the Exchequer, whether the Spending Review Phase 2 is zero-based. \p Darren Jones: Phase 2 of the Spending Review launched on the 10th December 2024. At launch, I asked every department to conduct a zero-based review of government spending to assess whether it is a priority for this government and represents value for money. This is the first time that a line-by-line review of government spending has taken place in 17 years, offering the opportunity to undertake a more thorough review of spending.
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Blake Stephenson:To ask the Chancellor of the Exchequer, if she will make an estimate of the proportion of Winter Fuel Payments that fed into consumer spending in 2023-24. \p Darren Jones: HM Treasury does not hold this information.

It is not possible to attribute changes in consumer spending to any changes to Winter Fuel Payments. It is not possible to disentangle these from other much larger factors that could affect consumption.
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John Glen:To ask the Chancellor of the Exchequer, pursuant to the Answer of (a) 27 November 2024 to Question 14255 on Civil Service and (b) 27 November 2024 to Question 14946 on Government departments: communications and consultations, what the financial reduction in consultancy spending is in absolute terms required to deliver the policy of having spending on consultancy; and what the estimated baseline spending on government consultancy was in 2024-25 prior to the planned reduction of £550 million for 2024-25 and £680 million in 2025-26. \p Darren Jones: The baseline aggregate annual cash figure for the 24-25 savings target is based on an in-year monthly forecast outturn figure from the government’s cross central financial management system. In-year forecast outturn figures at this level of detail are not released publicly due to their security classification and sensitivity.

The baseline for the £680 million 25-26 saving is based on a 50% cut to the average figure that HMG spent on consultancy across the six financial years 2017/18 to 2022/23. This figure was calculated using HM Treasury estimates from spending figures published via the annual release of data from the Online System for Central Accounting and Reporting (OSCAR) database.

The government’s policy is to reduce consultancy spending by £550m in 2024-25 and to halve spending in 2025-26 against a baseline of average HMG spend on consultancy across the six financial years 2017/18 to 2022/23. This figure was calculated using HM Treasury estimates from spending figures published via the annual release of data from the Online System for Central Accounting and Reporting (OSCAR) database. This financial reduction in spending will deliver cash savings of £680m.

The estimated baseline spending on consultancy in 2024-25 prior to the planned reduction of £550m is based on an in-year monthly forecast outturn figure from the government’s cross central financial management system. In-year forecast outturn figures at this level of detail are not released publicly due to their security classification and sensitivity.
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John Glen:To ask the Chancellor of the Exchequer, pursuant to the Answer of 27 November 2024 to Question 14946 on Government Departments: Communication and Consultants, whether her Department holds data on the (a) Department and (b) programme reductions to consultancy spending that is expected to reduce spending by (i) £550 million in 2024-25 and (ii) £680 million in 2025-26. \p Darren Jones: Consultancy spending data for the current 24-25 financial year is held centrally on the cross-government financial system. In-year monthly forecast outturn data at this level of detail is not shared publicly due to its security classification and sensitivity.

Final outturn figures for consultancy spending are published annually via Department’s audited Annual Reports and Accounts (ARAs) and via the annual release of data from the Online System for Central Accounting and Reporting (OSCAR) database. Individual departments control their budgets for consultancy spending and determine the ways they will reduce it in line with the aggregate savings target. HM Treasury and Cabinet Office are holding them to account for these reductions.
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Claire Hanna:To ask the Chancellor of the Exchequer, whether the Crown Estate plans to extend Net Zero housing pilots to Northern Ireland. \p Darren Jones: The Crown Estate is currently trialling net zero carbon homes through three demonstration projects aimed at improving home quality and energy security. These projects involve developing 200 homes across three sites in Bedfordshire, Hertfordshire, and Cheshire.

The aim is to explore how new homes can be delivered using less than 300kg/m2 of embodied carbon and operational energy use intensity of 35kWh/m²/year. The developments aim for a minimum 15% biodiversity net gain, on-site renewable energy generation, and alignment with the Passivhaus standard, promoting healthy and energy-efficient living.

The focus is on exploring innovative approaches to net zero carbon homes before considering how to scale these solutions across the UK. The Crown Estate will share insights and lessons learned, enabling policymakers, developers, and the wider market in Northern Ireland to benefit from the methods used in the demonstration projects to improve home quality and energy security.
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Harriet Cross:To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of the planned funding allocations for International Climate Finance in (a) 2024-25 and (b) 2025-26; and via which Departmental budgets will this be distributed. \p Darren Jones: The Prime Minister has confirmed that Official Development Assistance (ODA) is being reduced to 0.3% of GNI by 2027 to support increases to defence and security spending. Implications of the planned ODA reduction will be determined through Phase 2 of the Spending Review.
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John Glen:To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 January 2025 to Question 21692 on Public Expenditure, over which financial years the (a) efficiencies and (b) savings target by 2029 relates to; whether the 5% target is for each year or over the whole spending review two period; and how the target interacts with the spending reductions announced at the (i) Fixing the Foundations statement in July 2024, (ii) Autumn Budget 2024 and (iii) phase one of the Spending Review. \p Darren Jones: To help drive out waste and ensure all funding is focused on the Government’s priorities, all departments are expected to find at least 5% savings and efficiencies from within existing budgets by the end of this SR period (2028/2029).

Any spending reduction announced at the (i) Fixing the Foundations statement in July 2024, (ii) Autumn Budget 2024 and (iii) phase one of the Spending Review that apply to the year 2025/2026 will be captured within the savings and efficiency target of 2% set across all government departments as part of phase one of the Spending Review.
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Rachel Taylor:To ask the Chancellor of the Exchequer, when she expects cases impacted by the McCloud remedy to be resolved. \p Darren Jones: The McCloud remedy took effect from October 2023 and will deliver a full remedy to all affected public service pension scheme members. Schemes and responsible departments are making progress to ensure the remedy is delivered as quickly as possible. All affected members will receive a remediable service statement setting out the details of their pension entitlements and there are a range of other communication resources available to members. Pensioner members can make their remedy choice on receipt of this statement and active and deferred members will make their choice at retirement. The remedy has been estimated to increase pension entitlements by around £17bn. This will be paid out over many decades and in September 2024 the OBR forecast that spending on public service pensions will fall from 1.9 per cent of GDP at present to 1.4 per cent over the long term (50 years).
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Kevin Hollinrake:To ask the Chancellor of the Exchequer, what methodology her Department used to calculate the allowance for public sector bodies for changes to employer National Insurance contributions. \p Darren Jones: The Government will provide support for departments and other public sector employers for additional Employer National Insurance Contributions costs.

The amount of public sector support was based on an estimate of the proportion of employer NICs receipts paid by public sector organisations, using the Office for National Statistics (ONS) classification of the public sector boundary. The Treasury routinely uses the Office for National Statistics (ONS) classification of the public sector boundary, for example in relation to public sector spending, public sector borrowing and public sector debt.

This is in line with the approach taken under the previous Government’s Health and Social Care Levy.

This funding will be allocated to departments, with the Barnett formula applying in the usual way.

The Government plans to publish the allocations for departments alongside departmental budgets for 2025/26 as part of Main estimates.
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Lisa Smart:To ask the Chancellor of the Exchequer, pursuant to the Answer of 18 December 2024 to Question 20062 on Bank Services: Direct Debits, whether her Department is taking steps to ensure that organisations receiving payments via Direct Debit always (a) verify that Direct Debit instructions have been properly authorised by the payment account holder and (b) provide advance notice of the amount and collection date for each Direct Debit payment unless otherwise agreed. \p Emma Reynolds: I refer the Honourable Member to the answer given on 18 December 2024 to PQ UIN 20062.
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Jim Shannon:To ask the Chancellor of the Exchequer, what estimate her Department has made of the amount of Russian assets in bank accounts in the UK. \p Emma Reynolds: The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, announced in December 2023 that £22.7 billion of Russian Assets had been reported as frozen since February 2022 as of October 2023.

This figure is collated from a cumulation of various asset types, of which bank accounts form part, and is a cumulative total of assets reported.
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Edward Morello:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of recent trends in the level of bank branch closures in West Dorset constituency on (a) small businesses and (b) constituents. \p Emma Reynolds: The Government understands the importance of face-to-face banking to constituents and businesses in West Dorset and across the UK and is committed to championing sufficient access for all. That is why the Government is working closely with the industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to delivering these hubs by the end of this Parliament. Over 200 hubs have been announced so far, and over 100 are already open.

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.

Alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking, and via the Post Office. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills, and cash cheques. The Government protects the Post Office network by setting minimum access criteria. These include ensuring that 99% of the UK population lives within three miles of a Post Office and 90% of the population within one mile.

To stimulate local economic growth, the Government intends to introduce permanently lower tax rates for high street retail, hospitality, and leisure properties with rateable values below half a million pounds from 2026–2027 and later this year, the Government will publish a Small Business Strategy, setting out our vision for small businesses.

Taken together, these actions will support businesses in West Dorset and across the country to drive local economic growth.
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James McMurdock:To ask the Chancellor of the Exchequer, what her Department's policy is on support for elderly people who lack access to (a) online banking and (b) a physical banking hub. \p Emma Reynolds: The Government understands the importance of face-to-face banking to communities and high streets and is committed to championing sufficient access for all as a priority. This is why Government is 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. Over 200 hubs have been announced so far, and over 100 are already open.

Another option for in-person banking is the Post Office. Through the Post Office Banking Framework, 99% of personal banking and 95% of business banking customers can access vital cash withdrawal and deposit facilities in-person at 11,500 Post Office branches across the country. The Government protects the Post Office network by setting minimum access criteria. These include ensuring that 99% of the UK population lives within three miles of a Post Office and 90% of the population within one mile.

Some banks also provide their own community banking services via pop-ups in community centres and libraries, or operate mobile banking vans, and the Government supports these initiatives.

Further alternative options to access everyday banking services can be via telephone banking and through digital means such as mobile or online banking. In 2022, over 65% of those aged over 75 used online banking or mobile apps. The Department for Science, Innovation, and Technology (DSIT) has recently published a Digital Inclusion Action Plan which sets out the Government’s first steps towards our long-term objective of ensuring everyone has the access, skills, support and confidence to participate in our modern digital economy.
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Liz Jarvis:To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of introducing new methods for expatriates to receive access to premium bond earnings without a UK bank account. \p Emma Reynolds: National Savings & Investments (NS&I) can only make payments to, and receive payments from, a UK bank or building society account in pounds sterling. Therefore, to save with NS&I, customers must have a UK bank or building society account in their name. This policy ensures value for money for taxpayers and minimises the risk of fraud.
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Gareth Davies:To ask the Chancellor of the Exchequer, with reference to her Department's policy paper entitled National Wealth Fund: Mobilising Private Investment, published on 14 October 2024, what were the previous constraints in relation to the amount of economic risk capital of the UK Infrastructure Bank. \p Emma Reynolds: The most important constraint on the National Wealth Fund’s risk appetite is its economic capital risk budget, which limits the total risk exposure it can hold. The UK Infrastructure Bank had £22 billion of notional financial capacity and an economic risk capital budget of £4.5 billion. This was set by HM Treasury when UKIB was established. As part of UKIB's transformation into the National Wealth Fund, HM Treasury will agree a larger amount of economic risk capital, the details of which will be published in due course.
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Edward Morello:To ask the Chancellor of the Exchequer, whether she has plans to make changes to the tax-free allowance for Individual Savings Accounts. \p Emma Reynolds: Individual Savings Accounts (ISAs) incentivise greater saving and investment by helping people save for their future goals and build greater financial resilience. They support people of all incomes and at all stages of life to save.

The Government keeps all aspects of the tax system under review.
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Victoria Collins:To ask the Chancellor of the Exchequer, whether she plans to take steps to provide compensation for self-invested personal pension holders affected by Hartley Pensions entering administration. \p Emma Reynolds: As a self-invested personal pension (SIPPs) provider, Hartley Pensions is regulated by the Financial Conduct Authority (FCA). The FCA is working with the administrators of Hartley Pensions to ensure that any customers affected by the situation achieve the best possible outcome. The Financial Services Compensation Scheme has also agreed to compensate customers by funding the costs of the Joint Administrators’ exit strategy for Hartley SIPP customers.
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Lewis Cocking:To ask the Chancellor of the Exchequer, whether she has made an assessment of the adequacy of the assessment (a) process and (b) criteria for the establishment of banking hubs. \p Emma Reynolds: The Government understands the importance of face-to-face banking to communities, high streets, and rural areas across the UK, and is committed to championing sufficient access for all as a priority. The Government is 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. Over 200 hubs have been announced so far, and over 100 are already open.

The locations of banking hubs are independently determined by LINK, the industry coordinating body responsible for making access to cash assessments. When a cash service such as a bank branch closes, or if LINK receives a request directly from a community, LINK assesses a community’s access to cash needs.

LINK will recommend appropriate solutions where it considers that a community requires additional cash services. Some of the criteria that LINK considers are whether there is a bank branch remaining, population size, number of shops on the high street, distance to the nearest bank branch, public transport links, and vulnerability of the population.

Based on this independent assessment and recommendation, Cash Access UK will provide a suitable shared solution, such as a deposit service, or a banking hub, for that community.
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Pippa Heylings:To ask the Chancellor of the Exchequer, what discussions she has had with (a) the Country Land and Business Association and (b) other industry bodies to support working farms, in the context of her proposed changes to (i) agricultural property relief and (b) business property relief. \p James Murray: As the Minister responsible for the UK tax system, I have participated in several meetings with agricultural organisations since Autumn Budget 2024 to listen to views. Similarly, ministers from other Departments, such as the Department for Environment, Food and Rural Affairs, have also held meetings with these organisations to listen to their views.

Most recently, on 18 February 2025, the Minister for Food Security and Rural Affairs and I met with representatives from various agricultural organisations, including the President of the Country Land and Business Association.
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Charlotte Cane:To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of increasing the Digital Services Tax. \p James Murray: While the Government keeps all tax policy under review, we have no plans to raise the rate of the Digital Services Tax (DST).

The UK remains committed to removing the DST once a global solution on the taxation of the digital economy through Pillar 1 of the G20-OECD Inclusive Framework project is in place.
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Jim Shannon:To ask the Chancellor of the Exchequer, what guidance her Department has issued to Northern Ireland businesses on the applicability of duty on goods bought from a supplier in England and sold in Northern Ireland to other Northern Ireland (a) businesses and (b) customers. \p James Murray: HMRC has published extensive guidance in respect of goods movements from Great Britain to Northern Ireland, including setting out when duty is liable. The UK Internal Market Scheme (UKIMS) enables eligible goods moving from Great Britain to Northern Ireland to move without incurring duty. Where duty is paid and the business can evidence the goods did not enter the EU, this can be reclaimed via the Duty Reimbursement Scheme. Further information can be found at: Moving goods you bring into Northern Ireland as 'not at risk’ of moving to the EU - GOV.UK
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Chi Onwurah:To ask the Chancellor of the Exchequer, whether she has made a recent assessment of the potential merits of ending the entitlement of football clubs to claim research and development tax credits. \p James Murray: The Government recognises the importance of Research and Development (R&D) in driving innovation and the benefits it can bring for society, where the R&D tax reliefs play a vital role in the Government’s mission to boost economic growth.

All sectors are able to claim R&D relief on projects that meet the definition of qualifying R&D set out in DSIT Guidelines. R&D claims from all sectors are checked and where risks are identified HMRC use a range of compliance approaches and powers to address them.

There are currently no plans to exclude certain sectors from claiming R&D relief.
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Gareth Davies:To ask the Chancellor of the Exchequer, with reference to Q110 of the oral evidence given by the Second Permanent Secretary to the Treasury Select Committee on 12 February 2025, how the risk framework of the National Wealth Fund differs from that of the UK Infrastructure Bank. \p James Murray: The National Wealth Fund (NWF) are currently revising their risk management framework to reflect changes made from the UK Infrastructure Bank’s strategic objectives, economic capital and risk appetite. A revised version will be published on the NWF website in due course.
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Gregory Stafford:To ask the Chancellor of the Exchequer, what steps she is taking to ensure that online companies such as (a) Temu and (b) Shein are paying their due and import taxes for sales of products in the United Kingdom. \p James Murray: The Government recognises the increasing popularity of overseas retailers.

VAT is due on all imports of goods into the UK at the same rate as domestic transactions, meaning that overseas retailers contribute to the Exchequer. Imports valued below £135 can be imported into the UK without paying customs duty. Imports valued above £135 must pay the relevant duty.

HMRC’s compliance strategy seeks to ensure that overseas retailers pay the tax and duty they are liable for and addresses all forms of non-compliance.
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Gareth Davies:To ask the Chancellor of the Exchequer, what (a) in-person meeting, (b) virtual meeting and (c) other outreach work the UK Infrastructure Bank undertook between 17 June 2021 and 4 July 2024. \p James Murray: The National Wealth Fund (NWF) and formerly the UK Infrastructure Bank, actively engages with various stakeholders to enhance the effectiveness and impact of its deals and local authority advisory services. By collaborating with a variety of stakeholders, the NWF ensures that its initiatives are well-informed and supported. This engagement is done through a variety of methods, including bilateral meetings, publications, consultations, and external events (including those hosted by the NWF). The mission of the NWF requires it to support rather than compete with the market and as such, they seek to engage openly with stakeholders.

More information about the engagement NWF undertakes with its stakeholders is set out on pages 73 to 75 of the Annual Report and Accounts National Wealth Fund Limited Annual report and accounts 2023-2024
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Kevin Hollinrake:To ask the Chancellor of the Exchequer, pursuant to the Answer of 22 January 2025 to Question 24511 on Property Valuation, if she will publish (a) guidance and (b) correspondence from the Centre for Appraisal Research and Technology to the Valuation Office Agency on the use of the Gaussian Markov Random Fields approach in the automated valuation model. \p James Murray: As outlined in the response to PQ UIN 15200, the Valuation Office Agency (VOA) will publish further information on the model and its use in supporting the Welsh Government’s Council Tax reform ambitions on GOV.UK before April 2025.

The information that will be published will be more up to date and cover similar content to the International Association of Assessing Officers presentations from 2023, so there is no intention to publish these.
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Edward Morello:To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of differences between beer duty rates in the UK and other European countries on the financial sustainability of UK pubs. \p James Murray: A Tax Information and Impact Note was published alongside the changes to alcohol duty announced at Autumn Budget. This is available here: Alcohol Duty uprating - GOV.UK

The alcohol duty cut on qualifying draught products impacts approximately 60% of the alcoholic drinks sold in pubs. This represents an overall cut in duty bills of over £85m a year.

Although alcohol duty is paid directly by producers, duty changes are ‘passed-through' to consumers in prices. This link between alcohol duty and prices is widely acknowledged, including by the Office of Budget Responsibility in its inflation forecasts.

The Chancellor also confirmed her intention to introduce permanently lower business rates for high street retail, hospitality, and leisure (RHL) properties with rateable values below £500,000, including pubs, from 2026-27, and in the interim to extend the current RHL relief for one year at 40%, up to a cash cap of £110,000 per business.

There is significant variation in alcohol taxation policy amongst European countries, with some countries having lower alcohol duty rates and some having higher rates.
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John Glen:To ask the Chancellor of the Exchequer, pursuant to the Answer of 12 November 2024, to Question 12389 on Civil Servants and Ministers: Workplace Pensions, whether the automatic lump sum death benefits under the Civil Service Classic scheme is subject to inheritance tax. \p James Murray: As announced at Autumn Budget 2024, from 6 April 2027 most unused pension funds and death benefits will be included within the value of a person’s estate for Inheritance Tax purposes.

Some lump some death benefits from pension schemes are already within scope of Inheritance Tax. As with other registered schemes, lump sum death benefits under the Civil Service Classic scheme will be subject to Inheritance Tax from 6 April 2027.
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John Glen:To ask the Chancellor of the Exchequer, pursuant to the Answer of 17 January 2025 to Question 22929 on Treasury: Employers' Contributions, which Strategic Suppliers to the Department have contractual terms and conditions that require a pricing review as a consequence of the higher National Insurance contributions to employers. \p James Murray: No such terms and conditions are included in HM Treasury’s contracts with strategic suppliers.
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Kevin Hollinrake:To ask the Chancellor of the Exchequer, how many dwellings were on the Valuation Office Agency’s valuation list in (a) England and (b) Wales in (i) 2009-10 and (ii) the most recent financial year for which figures are available. \p James Murray: Information regarding the total number of properties (dwellings) on the Council Tax lists in England and Wales are published each year in the Council Tax Stock of Properties publication - www.gov.uk/government/statistics/council-tax-stock-of-properties-2024. Latest information is as of 31 March 2024.

Table CTSOP1.0 in the summary tables includes all properties in the England (1993) and Wales (1993 and 2005) Council Tax Valuation Lists, as at 1 April 1993 and 31 March for each year between 1994 and 2024.

The summary tables are available here: https://assets.publishing.service.gov.uk/media/668545157541f54efe51b926/CTSOP_summary_tables.xlsx
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_467

Kevin Hollinrake:To ask the Chancellor of the Exchequer, what information the Valuation Office Agency holds on the number of dwellings that have (a) one, (b) two, (c) three and (d) four or more bedrooms in each local authority in London. \p James Murray: Information regarding the total number of properties on the Council Tax lists in England and Wales are published each year in the Council Tax Stock of Properties publication - www.gov.uk/government/statistics/council-tax-stock-of-properties-2024. Latest information is as of 31 March 2024.

Table CTSOP3.0 includes all properties in the England (1993) and Wales (2005) Council Tax Valuation Lists by property type and administrative area. The number of bedrooms for each property type are shown by clicking on the plus sign above each column.

The summary tables are available here: https://assets.publishing.service.gov.uk/media/668545157541f54efe51b926/CTSOP_summary_tables.xlsx
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_468

Ben Maguire:To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of introducing mobile banking hubs to serve people in (a) rural areas and (b) North Cornwall constituency. \p Emma Reynolds: The Government understands the importance of face-to-face banking to communities, high streets, and rural areas across the UK, and is committed to championing sufficient access for all as a priority. Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to delivering these hubs by the end of this Parliament. Over 200 hubs have been announced so far, and over 100 are already open.

Alternative options to access everyday banking services can be via telephone banking, through digital means such as mobile or online banking, and via the Post Office.

Some banks also provide their own community banking services via pop-ups in community centres and libraries or operate mobile banking vans to serve more remote areas, and the Government supports these initiatives.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_469

Neil Duncan-Jordan:To ask the Chancellor of the Exchequer, whether she is taking steps to reduce the Cash ISA allowance. \p Emma Reynolds: ISAs are tax-free savings accounts, which incentivise individuals to save and invest. An ISA investor does not pay tax on interest, income, or gains received in an ISA and there is no need to declare any ISA interest, income, or capital gains on a tax return. This is made clear within the self-assessment process. Detailed information on how ISAs operate, and their tax-free status, can be found on GOV.UK and in the promotional and other material provided by ISA managers to prospective customers.

The Government recognises the important role that cash savings play in helping households build a financial buffer for a rainy day. The Government also wants to see more consumers participate in capital markets and benefit from the long-term financial security and returns that investing can provide.

As with all aspects of the tax system, the Government keeps ISA policy under review.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_470

Mark Garnier:To ask the Chancellor of the Exchequer, if she will make an estimate of the number of additional mortgages that could be approved by increasing the 15% cap on bank mortgage lending above 4.5 times income to (a) 17.5%, (b) 20% or (c) removing the cap entirely. \p Emma Reynolds: The flow limit, which limits the number of mortgages extended at loan-to-income (LTI) ratios of 4.5 or higher to 15% of a lender’s new mortgage lending, is set by the independent Financial Policy Committee (FPC) of the Bank of England.

While the Government does not seek to intervene in decisions made by the independent FPC, the Chancellor has recommended that the Committee consider how its decisions support the Government’s priority of supporting home ownership, as stated in her remit letter sent to the FPC on 14 November 2024.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_471

Kate Osamor:To ask the Chancellor of the Exchequer, whether she plans to require currency exchange services for consumers to display the (a) live exchange rates and (b) commission charged to consumers. \p Emma Reynolds: The Payment Services Regulations 2017 outline requirements on UK payment service providers regarding disclosure of fees and charges to the payer where currency conversion is provided as part of a payment transaction. Provisions under the Cross Border Payments Regulation also contribute to price transparency, with further requirements regarding how foreign exchange costs are communicated before a payment is made.  The Government recognises the importance of transparency of fees and charges in ensuring effective competition between payment service providers. These regulations, amongst other things, are intended to enable consumers to make informed decisions when making use of payment services, including where currency conversion is offered as part of a payment transaction.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_472

Martin Vickers:To ask the Chancellor of the Exchequer, what steps she plans to take to ensure that the business rates system supports the sustainability of food and drink wholesalers. \p James Murray: The Government published the ‘Transforming Business Rates’ Discussion Paper at Budget setting out priority areas for reform. This paper invites industry to help co-design a fairer business rates system that supports investment and is fit for the 21st century. Further information regarding the Discussion Paper can be found at: Transforming business rates - GOV.UK.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_473

Yuan Yang:To ask the Chancellor of the Exchequer, what assessment she has made of the potential implications for her policies of recent trends in levels of renewal premiums for insurance. \p Emma Reynolds: The Government has not made an assessment. The Government does not set the terms, conditions, or prices for insurance policies. Insurers make commercial decisions about pricing based on their assessment of the relevant risks.  The Government is determined that insurers should treat customers fairly and the Financial Conduct Authority (FCA), as the independent regulator of the insurance industry, requires firms to ensure their products offer fair value. The FCA has stated that it will monitor firms to ensure they provide products that offer fair value and will take action if necessary.  In 2022, the FCA introduced rules that require firms to offer a renewal price that is no greater than the equivalent new business price the firm would offer to a new customer. The FCA estimated that these new rules would save consumers £4.2 billion over ten years.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_474

Sir John Hayes:To ask the Chancellor of the Exchequer, how many officials from her Department attended the World Economic Forum 2025. \p Emma Reynolds: It is commonplace for key officials to travel with the Chancellor in order to support her at events and visits.

Five officials from HM Treasury accompanied the Chancellor to the 2025 World Economic Forum annual meeting.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_475

Mark Garnier:To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of taking legislative steps to allow credit unions to access the Bank of England’s liquidity facilities. \p Emma Reynolds: Credit unions are not currently eligible to access the Bank of England’s liquidity facilities, but the Bank continually assesses the types of firms that are eligible. The Government has made clear its strong support for the credit union sector, recognising the value that credit unions bring to their members in local communities across the country in providing savings products and affordable credit. The Government continues to engage regularly with this sector to understand the current barriers they face and to consider further opportunities for growth.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_476

Kanishka Narayan:To ask the Chancellor of the Exchequer, what steps she is taking to improve access to growth capital for tech startups at (a) the scale-up stage and (b) other stages. \p Emma Reynolds: The Government is committed to improving access to growth capital for startups and scaleups, recognising their vital role in driving economic growth and innovation.

At Autumn Budget, the Government provided over £1bn across the years 2024-25 and 2025-26 for the British Business Bank to enhance access to finance for smaller businesses. This includes additional funding for the Future Fund: Breakthrough scheme, which co-invests in high-growth, innovative firms.

The Government is also working to unlock additional private capital for productive investment. The Government published the Interim Report of the Pensions Investment Review alongside the Chancellor’s Mansion House Speech on 14 November 2024. The proposed reforms in the Interim Report could potentially unlock around £80 billion of productive investment, while boosting savers’ pension pots. The Government will publish the Final Report in Spring 2025. This will further consider the opportunity for, and scope of, investment in the UK by pension funds.

The Government is also taking further proactive steps to increase investment in innovative businesses by creating and managing new funding structures that will deliver returns for investors and deliver capital to high-growth businesses. In November 2024, the British Business Bank completed its £250m Long Term Investment for Technology and Science (LIFTS) investment alongside Phoenix Group with Schroders Capital. The £500m investment vehicle will invest in UK late-stage companies focused on technology and science, with 20% of the fund expected to be invested in life sciences.

Additionally, two UK pension funds, Aegon UK and NatWest Cushon, have agreed to collaborate with the British Business Bank on launching the British Growth Partnership to crowd-in institutional investment into venture capital funds and innovative businesses here in the UK.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_477

John Glen:To ask the Chancellor of the Exchequer, what information her Department holds on when the Financial Conduct Authority plans to respond to its consultation entitled Proposed amendments to Guidance on the treatment of politically exposed persons, published on 18 July 2024. \p Emma Reynolds: The Government has been working closely with the FCA to follow up on the findings of its review into the treatment of Politically Exposed Persons (PEPs) by financial institutions and to ensure firms improve their practices where necessary. The FCA expects that the revised guidance will be published and brought into effect in the first half of 2025.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_478

John Glen:To ask the Chancellor of the Exchequer, pursuant to the Answer of 13 January 2025 to Question 22013 on Economic Situation, whether bond yields will be included in the other metrics of financial market indicators in relation to economic stability. \p Emma Reynolds: As the Prime Minister set out in the Plan for Change document, the Government’s milestones for change can only be delivered on the foundations of a stable economy, secure borders, and national security. Economic stability requires concerted action to ensure macroeconomic stability, financial stability, fiscal stability, and long-term policy stability.

The commitment to our tough fiscal rules is non-negotiable, and we will meet the fiscal rules at all times.

HM Treasury considers a wide range of information to assess financial conditions, including a range of financial market indicators, and works with the financial sector regulators to monitor markets.
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Source: hansard.parliament.uk (2025-03-03)

UK Parliament Hansard data: wrans/answers2025-03-03 conversation_479

John Glen:To ask the Chancellor of the Exchequer, whether her Department has a theory of economic growth it uses when formulating (a) fiscal and (b) economic policy. \p Emma Reynolds: The Government’s growth mission is its central mission. Its plan for growth is built around the three essential elements of stability, investment, and reform. The work of the growth mission can be structured into seven pillars, as set out in the Autumn Budget document. This approach is informed by economic analysis and will deliver a decade of national renewal by fixing the foundations of the economy and rebuilding Britain, making every part of the country better off.

The Government's fiscal policy objective is to support sustainable economic growth and provision high-quality public services and investment across the UK, by effectively managing public finances and ensuring taxes and borrowing are sustainable.

Economic and fiscal stability are prerequisites for the economy to grow, as they give UK businesses and households the confidence to make decisions on future investments and consumption. This encourages innovation and growth over the long term.