theodi/ndl-core-corpus huggingface dataset:
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Source: hansard.parliament.uk (2025-11-17)

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Charlie Dewhirst:To ask the Chancellor of the Exchequer, what steps her Department is taking to communicate the implications of inheritance tax reforms to business and agricultural property relief to family business owners. \p Dan Tomlinson: As announced at Autumn Budget 2024, the government will reform Inheritance Tax agricultural property relief and business property relief from 6 April 2026.

The government has published several documents setting out further detail on how these changes will work in practice, including a policy paper at Autumn Budget 2024: https://www.gov.uk/government/publications/reforms-to-agricultural-property-relief-and-business-property-relief

A detailed explainer of the reforms, including case study examples, was published 5 November 2024: https://www.gov.uk/government/news/what-are-the-changes-to-agricultural-property-relief

On 21 July 2025, the government published draft legislation, an Explanatory Note and a Tax Information and Impact Note for the changes, alongside its response to the technical consultation on the changes: https://www.gov.uk/government/publications/reforms-to-agricultural-property-relief-and-business-property-relief

Final legislation for this measure will be included in the upcoming Finance Bill 2025-26, which will be published shortly after the Budget on 26 November. HMRC will publish full guidance and explain the changes through their communications channels, as appropriate, in due course for the changes coming into effect on 6 April 2026.
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Source: hansard.parliament.uk (2025-11-17)

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Esther McVey:To ask the Chancellor of the Exchequer, if she will take steps to ensure that HMRC does not impose (a) penalties and (b) interest on (i) people and (ii) businesses who make inadvertent errors on their tax returns. \p Dan Tomlinson: Financial penalties encourage taxpayers to comply with their obligations and act as a sanction for those who fail to comply. HMRC recognises that people may make inadvertent errors and does not charge a penalty provided the customer has not failed to take reasonable care in completing their return.

If a penalty for an inaccuracy is charged by HMRC, a person can also appeal against our decision to impose a penalty.

Interest is only applied to any outstanding liability. If a corrected error shows no outstanding amount, no interest will be charged.
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Source: hansard.parliament.uk (2025-11-17)

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Mr Lee Dillon:To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential merits of extending Orchestra Tax Relief to (a) vocal performance groups and (b) choirs. \p Dan Tomlinson: The Government supports the creative industries, including orchestras, through funding and through the tax system. To qualify for Orchestra Tax Relief, a concert must be performed by a group of at least 12 instrumentalists. The voice is not considered to be an instrument for these purposes. However, orchestra concerts with a vocal element are eligible for the relief providing that the orchestra also contains at least 12 instrumentalists, not including the voice, and the instrumentalists are the primary focus.

Vocal performance groups and choirs do not qualify for Orchestra Tax Relief since the scheme aims to support the cultural and distinct economic activity associated with orchestral concerts. We do of course recognise the benefits choirs and vocal performance groups offer to those who participate and who enjoy their performances.

When considering new tax reliefs, the Government takes into account a wide range of factors including costs, complexity, and fairness.

The Chancellor makes announcements on tax at fiscal events in the context of the overall public finances.
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Source: hansard.parliament.uk (2025-11-17)

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Sir John Hayes:To ask the Chancellor of the Exchequer, how many (a) single sex and (b) gender neutral bathroom facilities her Department provides in its main Whitehall building. \p Dan Tomlinson: HM Treasury's offices are within multi-department buildings managed by the Government Property Agency, who will hold information on bathroom facilities.
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Sir John Hayes:To ask the Chancellor of the Exchequer, if she will list the titles of all the events organised by Civil Service networks in her Department since 2017. \p Dan Tomlinson: HM Treasury does not hold historical records for staff network events, including those organised by cross-Civil Service networks. 2025 records show that Civil Service network events are circulated to HMT staff but none have been organised by Civil Service networks and hosted in the department.
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Sir James Cleverly:To ask the Chancellor of the Exchequer, pursuant to the Answer of 26 February 2025 to Question 32153 on Airports: Business Rates, whether the Valuation Office Agency has made other changes to the methodology of airport valuations since the last revaluation. \p Dan Tomlinson: There have been no changes to the method of assessing airports since the last revaluation.
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Source: hansard.parliament.uk (2025-11-17)

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Claire Hanna:To ask the Chancellor of the Exchequer, if she will take steps to support (a) hospitality, (b) consumers, (c) pubs and (d) breweries by (i) reducing (A) VAT and (B) draught beer and cider duty and (ii) introducing targeted relief for (1) energy and (2) employment costs through the Autumn Budget 2025. \p Dan Tomlinson: The Government recognises the significant contribution made by hospitality businesses, including pubs, to economic growth and social life in the UK.

The Government keeps all areas of the tax system under review. Any changes to the tax system are announced as part of the annual Budget process.

On VAT, HMRC estimate that the cost of a 5 per cent reduced rate for accommodation, hospitality and tourist attractions would be around £13 billion this financial year. If the scope were also to include alcoholic beverages, the cost would be approximately £3 billion greater. VAT reliefs reduce the revenue available to fund public services and must be good value for the taxpayer.

The current duty system supports breweries through Draught Relief, which ensures products served on draught pay less duty, and Small Producer Relief, which permits smaller producers to pay reduced duty rates.

In recognition of the economic and cultural importance of pubs, as well as the wider ‘on trade’, at Autumn Budget 2024 the Government cut alcohol duty on qualifying draught products by 1.7% in cash terms. This duty reduction, worth over £85m a year, covers approximately 60% of the alcoholic drinks sold in pubs and is equivalent to a 1p duty reduction on a typical pint.

As a Government we understand the importance to businesses of reducing their energy bills and reaching net zero and recognise the barriers businesses face trying to overcome these challenges. On energy costs, the Government has announced a new Zero Carbon Services Hospitality Trial, which aims to provide pubs, cafés, restaurants and hotels with free energy and carbon-cutting advice to slash their energy bills as part of the Government’s Plan for Change. This initiative is designed to help businesses reduce costs and support the transition to net zero.
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Mr Louie French:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of levels of (a) taxation and (b) regulatory costs on growth in the retail sector. \p Dan Tomlinson: The Government closely monitors the health of different sectors across the UK economy and regularly engages with the retail sector, which it recognises plays a vital role in communities and high streets across the country.

From April 2026, the Government intends to introduce permanently lower tax rates for retail, hospitality and leisure (RHL) properties with rateable values below £500,000. This permanent tax cut will ensure that eligible RHL properties benefit from much-needed certainty and support.

This tax cut must be sustainably funded, and so the Government is introducing a higher rate on the most valuable properties in 2026/27 - those with RVs of £500,000 and above.

The Government recognises that, ahead of the new multipliers being introduced, RHL businesses need support in 2025-26. So, the Government has prevented RHL relief from ending by extending it for one year at 40 per cent up to a cash cap of £110,000 per business and frozen the small business multiplier.

The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the revaluation outcomes and broader economic and fiscal context can be factored into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.

The Government has been engaging widely with the retail sector to understand regulatory barriers to growth. The Small Business Plan, published in summer, aims to tackle late payments, boost access to finance, and remove red tape to help small businesses, including retailers, grow and thrive.
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Source: hansard.parliament.uk (2025-11-17)

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John Whitby:To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of automatically releasing funds in unclaimed adult-owned Child Trust Funds through the (a) benefit, (b) payroll and (c) student loan systems. \p Lucy Rigby: The Government is aware of suggestions that a system could be developed for paying out the savings held in matured Child Trust Fund (CTF) accounts that have not been accessed by the account owners by the age of 21.

The savings in these accounts belong to the account owners, and are held by private sector CTF providers. The Government does not have the authority to close these accounts, or to access and transfer the savings in them. Neither does the infrastructure that would be needed across government departments and CTF providers to implement the proposal, exist.

The Government is committed to reuniting all young adults with their CTFs.

HMRC works with CTF providers, industry representatives and others such as the University and Colleges Admissions service to explore ways of enabling account owners to be aware of and trace their accounts.
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Source: hansard.parliament.uk (2025-11-17)

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Wendy Morton:To ask the Chancellor of the Exchequer, with reference to her Written Ministerial Statement of 5 November 2025 on Financial Inclusion Strategy, HCWS1019, what steps she is taking to ensure the effective delivery of the commitments in the Strategy; what mechanisms she will put in place to (a) monitor and (b) publish progress against its objectives; and what funding has been allocated to support implementation partners over the next two years. \p Lucy Rigby: Earlier this month, I published the Government’s Financial Inclusion Strategy setting out an ambitious programme of measures to improve financial inclusion and resilience for underserved groups across the UK. This includes interventions for both Government and industry to address a range of barriers individuals and households face in accessing financial products, including making it easier to open a bank account without standard ID, build a savings habit and access affordable credit.

The Government recognises that action to improve financial inclusion requires a joined-up approach and will be working closely with industry and the regulator going forward to deliver on these interventions and make the strategy a reality.

As part of developing the strategy, the Government has engaged with Financial Inclusion Committee members and other organisations on how to measure its impact. The Strategy’s implementation will be reviewed in two years’ time to provide an update on interventions and relevant outcomes-based metrics, which will reflect on the progress made across the sector.

The Government has committed funding to support delivery of the strategy. This includes committing a further £132.5 million of dormant assets funding to Fair4All Finance for work that improves access to financial products and develops individuals’ ability to manage their finances in England, and over £100 million per year to the Money and Pensions Service to fund debt advice.
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Source: hansard.parliament.uk (2025-11-17)

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Andrew George:To ask the Chancellor of the Exchequer, what steps she is taking to ensure that financial products and services meet the accessibility requirements set out under the (a) Consumer Duty and (b) Financial Inclusion Strategy. \p Lucy Rigby: Earlier this month, I published the Government’s Financial Inclusion Strategy setting out an ambitious programme of measures to improve financial inclusion and resilience for underserved groups across the UK. This includes a key focus on digital inclusion and access to banking and considers accessibility as a cross-cutting theme across all areas under the strategy, in recognition of the particular challenges individuals can face in relation to this, including those with a disability or low literacy skills.

The strategy includes a range of specific interventions for both Government and industry to address these issues, including launching an industry-led working group which will examine how to make financial products more accessible and meet specific needs. This work will begin in early 2026 and the group will report on progress to HM Treasury every six months.

More widely, the Government continues to work closely with the Financial Conduct Authority (FCA), the independent regulator of the UK’s financial services sector, to ensure that all customers get the right support with their financial products and services.  FCA guidance highlights the actions firms should take to understand the needs of customers who may be vulnerable, such as individuals with a disability, and to consider these needs appropriately. This includes offering multiple channels of communication to their customers where possible, to ensure their products are accessible.

The FCA’s Consumer Duty also seeks to raise the standard of care expected from firms for all customers. It aims to deliver products and services that offer fair value and are designed to meet customers’ needs and seeks to increase firms’ focus on delivering good outcomes and preventing harm.

In addition, under the Equality Act 2010, all service providers must make reasonable adjustments to ensure their services are accessible to all.
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Source: hansard.parliament.uk (2025-11-17)

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Mohammad Yasin:To ask the Chancellor of the Exchequer, whether she has had discussions with the Financial Conduct Authority on the regulation of financial promotion content on social media linked to so-called pump-and-dump investment schemes; and what steps her Department is taking to protect consumers from misleading online investment advice. \p Lucy Rigby: The UK has a robust regime for identifying and tackling market abuse. It provides the FCA the ability to impose both criminal and regulatory sanctions against perpetrators of market manipulation and insider dealing.

The UK’s financial promotions regime is designed to ensure that consumers are provided with clear and accurate information that enables them to make appropriate decisions for their individual circumstances. As a technology-neutral framework, the regime holds financial promotions on social media to the same standards as those on any other channel. The Financial Conduct Authority (FCA) are responsible for enforcing against any financial promotions that are illegal or which do not comply with its rules.

The provision of financial advice is an FCA regulated activity and those who provide financial advice need to be authorised by the FCA and have the appropriate qualifications. The FCA can take action against firms or individuals who carry out regulated activity without authorisation. Earlier this year, the FCA led a global week of action against unlawful finfluencers resulting in 650 take down requests on social media platforms in the UK.

The government is committed to ensuring that all consumers can access regulated and high-quality sources of advice and support. That is why, together with the FCA, we are developing a new regime called targeted support. This will enable regulated financial services firms to provide more support to give people the confidence to invest.

The Money and Pensions Service (MaPS), an arm’s length body of the government, also provides comprehensive guidance to support consumers at every stage of their financial lives. Its MoneyHelper website offers information on a wide range of financial topics, including how to assess online and app-based investments, whether to trust investment recommendations on social media, and the risks of following unauthorised financial advice found online.
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Claire Hanna:To ask the Chancellor of the Exchequer, what assessment she has made of the effectiveness of the regulation of car insurance providers. \p Lucy Rigby: The government is determined that insurers should treat customers fairly and firms are required to do so under the Financial Conduct Authority’s (FCA) rules.

The FCA is an independent body responsible for regulating and supervising the financial services industry across the United Kingdom and has robust powers to act against firms that fail to comply with its rules.

The government plans to publish the final report of the cross-government Motor Insurance Taskforce in the autumn. The Taskforce has a strategic remit to set the direction for UK Government policy, identifying short- and long-term actions for departments that may contribute to stabilising or reducing premiums, while maintaining appropriate levels of cover.
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Dr Ellie Chowns:To ask the Chancellor of the Exchequer, with reference to the Answer of 16 October 2025 to Question 79904 on Carbon Emissions, if she will make it her policy to require the Bank of England to undertake a nature stress test. \p Lucy Rigby: The Chancellor’s 2024 remit and recommendations letter to the Bank of England’s Financial Policy Committee (FPC) sets out that the Committee should “consider how climate-related risks could impact financial stability over the near and long term, including, where appropriate, through its stress testing frameworks, ensuring that risks stemming from possible and severe global climate scenarios are reflected in its analysis on climate risks, and that sufficient time horizons are considered”.

The remit letter also sets out that the Committee should “continue to consider the materiality of nature-related financial risks for its primary objective”.

The Chancellor and the Governor of the Bank of England meet regularly to discuss the financial stability outlook. However, the FPC and the UK’s financial regulators are operationally independent from government in terms of how they carry out their specific responsibilities. This model is important for maintaining public trust and ensuring that our expert regulators are able to act flexibly to address evolving risks.
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Wendy Morton:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of her policies on levels of inflation. \p Lucy Rigby: HM Treasury does not produce forecasts for the UK economy. Forecasting the economy, including the impact of Government policy decisions, is the responsibility of the independent Office for Budget Responsibility (OBR), which published its latest forecast on 26 March 2025. The Chancellor has asked departments to prioritise reducing inflation when developing policies for the Autumn Budget, ensuring decisions support stability and long-term growth.
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James McMurdock:To ask the Chancellor of the Exchequer, if she will publish a breakdown of the number of mortgages issued under the Mortgage Guarantee Scheme by region of the UK. \p Lucy Rigby: Statistics are available online covering the Mortgage Guarantee Scheme which was open from 2021-2025, including a breakdown of the number of mortgages issued under that scheme by region of the UK and the proportion of purchases under that scheme made by first-time buyers.

https://www.gov.uk/government/collections/official-statistics-on-the-mortgage-guarantee-scheme
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Jim McMahon:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact pf (a) mobile phone and (b) broadband contract increases on inflation in (a) each year since 2020 and (b) each forecasted year her Department holds data on. \p Lucy Rigby: The Office for National Statistics (ONS) is responsible for producing the UK’s official inflation statistics. These capture the contribution of particular sectors of the economy to inflation. Mobile phone and broadband services sit within the “Telephone and telefax equipment and services” class of the Consumer Prices Index (CPI) basket.

HM Treasury does not produce forecasts for the UK economy. Forecasting the economy, including the impact of Government policy decisions, is the responsibility of the independent Office for Budget Responsibility (OBR), which published its latest forecast on 26 March 2025. The Chancellor has asked departments to prioritise reducing inflation when developing policies for the Autumn Budget, ensuring decisions support stability and long-term growth.
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Mike Wood:To ask the Chancellor of the Exchequer, pursuant to the Answer of 21 October 2025 to Question 81881 on Coinage: Design, whether the (a) Royal Mint Advisory Committee, (b) Sub-Committee on the Selection of Themes and (c) her Department have issued guidance on reflecting diversity in coinage (i) themes and (ii) designs. \p Lucy Rigby: The Royal Mint Advisory Committee advises the Chancellor of the Exchequer (in her capacity as Master of the Mint) and His Majesty the King on the themes and designs of new coins. Committee members are appointed for their distinguished expertise in areas including design, art, history and heritage, and apply their professional judgement when considering coin themes and designs.

Recommendations to the Master of the Mint and His Majesty the King on coin themes and designs are made collectively by the Committee and Sub-Committee, drawing on the professional judgement and expertise of their members. There is no formal policy on diversity considerations as part of this process.
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Greg Smith:To ask the Chancellor of the Exchequer, with reference to the RAC Report on Motoring 2025, published in October 2025, what assessment she has made of that report's recommendations on motor insurance tax. \p Lucy Rigby: We have established a cross-government motor insurance taskforce with a strategic remit to set the direction for UK government policy, identifying short- and long-term actions for departments that may contribute to stabilising or reducing car insurance premiums. The taskforce's final report will be published in the autumn.

Insurance pricing is a decision which is affected by a wide range of factors, and the taxes that insurers pay are just one part of this. There is no guarantee that any reductions in Insurance Premium Tax (IPT) would be passed on to policy holders.
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Alex Ballinger:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of reducing the maximum amount that can be added to a cash ISA on mortgage rates. \p Lucy Rigby: The pricing of mortgages is a commercial decision for lenders in which the Government does not intervene. However, mortgage rates are influenced by a range of factors, including Base Rate, which has been cut five times since this Government came to power.

ISAs incentivise saving and investment for future goals by providing tax advantages to individual taxpayers. The Government recognises the important role that cash savings play. The Government continues to consider reforms to ISAs and savings to achieve the right balance between cash savings and investment and ensure better outcomes for both savers and the UK economy.
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Ben Maguire:To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of reducing cheque deposit services at post offices on people in rural areas. \p Lucy Rigby: The Government recognises the important role the Post Office plays in providing essential banking services, particularly in rural areas. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance and pay bills at 11,500 Post Office branches across the UK. Furthermore, the Post Office is required by the Department for Business & Trade to ensure that 95% of the total rural population across the UK is within 3 miles of their nearest Post Office.

Decisions about what services are available at the Post Office, such as cheque deposits, are made by the banks as part of their commercial arrangements.

Customers continue to have other options for paying in cheques, whether at local bank branches, by post, or digitally via mobile apps using cheque imaging technology.
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Kevin Hollinrake:To ask the Chancellor of the Exchequer, whether she has has discussions on the proposed Chinese Embassy in London with representatives of the Chinese Government. \p Lucy Rigby: The Chancellor has engaged with the Chinese Government on a number of occasions, including during her visit to China for the 2025 UK-China Economic and Financial Dialogue, and has discussed a range of economic and financial issues. The Chancellor published a written ministerial statement about her visit to China on the morning of Monday 13 January (found here) and delivered an oral statement to the House of Commons on Tuesday 14 January (found here).
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Warinder Juss:To ask the Chancellor of the Exchequer, what steps her Department is taking to help tackle pump and dump cryptocurrency schemes. \p Lucy Rigby: The Government intends to bring forward legislation this year to create a financial services regulatory regime for cryptoassets in the UK.

This regime will include the establishment of a market abuse framework for relevant qualifying cryptoassets that will prohibit insider dealing, the disclosure of insider information, and market manipulation.
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James McMurdock:To ask the Chancellor of the Exchequer, what data her Department holds on (a) the number of people who lack access to in-person banking services and (b) the demographic profile of banking hub users. \p Lucy Rigby: The Government understands the importance of face-to-face banking to communities and high streets across the UK, and is committed to championing sufficient access for all as a priority. This is why 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 240 hubs have been announced so far, and over 180 are already open.

The location of banking hubs is determined independently by LINK following an access to cash review. An access to cash review can be requested via their website which also has information about the criteria they use. This includes population size, whether other banks remain nearby, the number of SMEs on the high street and public transport links, as well as the level of vulnerability in the community. It also takes account of whether a community is urban or rural.

Whilst the government doesn’t keep data on the demographics of banking hub users specifically, we utilise data from the Financial Conduct Authority on wider in-person banking. According to the Financial Conduct Authority’s Financial Lives Survey, in 2024, day-to-day account holders most likely to have undertaken banking activities face to face in a branch in the previous 12 months were the digitally excluded (46%), heavy users of cash (40%), and adults aged 75+ (34%).
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Dr Al Pinkerton:To ask the Chancellor of the Exchequer, what steps her Department is taking to support pensioners who reach the end of their mortgage term and face difficulties in refinancing in Surrey Heath constituency. \p Lucy Rigby: The pricing and availability of mortgages, including the extension of additional facilities post maturity or eligibility for suitable later life lending products, are commercial decisions for mortgage lenders in which the Government does not intervene.

However, the Government is regularly in contact with mortgage lenders on all aspects of their business, including the provision of finance to different cohorts of borrowers.

The UK benefits from a competitive later life lending market and there are various options available to later life borrowers, depending on their circumstances. Prospective borrowers should speak to a later life lending mortgage broker, who will be able to assist them in identifying any products for their circumstances. Where individuals are concerned about their ability to make their mortgage repayments, they should contact their lender to understand what options are available to them. There are significant measures in place to protect vulnerable mortgage borrowers, the Financial Conduct Authority’s rules require lenders to engage individually with their customers who are struggling or who are worried about their payments in order to provide tailored support.
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Mike Wood:To ask the Chancellor of the Exchequer, with reference to her Department's document entitled Financial relationship between HM Treasury and the Bank of England: Memorandum of Understanding, published in February 2025 and pursuant to the Answer of 14 July 2025 to Question 65148 on Bank Notes, if she will make it her policy to amend the Memorandum of Understanding to require (a) the use of historical British figures on banknotes and (b) the representation of her Department on the Banknote Imagery Advisory Group. \p Lucy Rigby: The Bank of England is responsible for all aspects of the design, production, and issuance of banknotes, including the selection of characters, design features, and security measures. The Bank of England is required to seek HM Treasury approval only for the introduction of new denominations, as set out in section 1(1) of the Currency and Bank Notes Act 1954 and Section 9C of the Memorandum of Understanding on the financial relationship between HM Treasury and the Bank of England.

The Memorandum of Understanding is reviewed every five years and was last updated in February 2025. The current version can be found here:

Financial relationship between HM Treasury and the Bank of England Memorandum of Understanding

The Bank of England may keep HM Treasury informed of developments on a non-statutory, informal basis, but there is no requirement for consultation with HM Treasury on matters of design or character selection. As a consequence, HM Treasury is not represented on the Bank of England’s Banknote Character Advisory Committee.
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Callum Anderson:To ask the Chancellor of the Exchequer, what assessment she has made of the adequacy of mechanisms in place to co-ordinate financial inclusion delivery across (a) central government and (b) regulators. \p Lucy Rigby: The Government recognises that action on financial inclusion requires a joined-up approach and will work collaboratively across local, central, and devolved governments, as well as regulators, industry, and civil society to deliver the recently published Financial Inclusion Strategy.

The Strategy sets out the Government’s plans to improve financial inclusion and resilience for underserved groups across the UK. It outlines action to address a range of barriers individuals face in accessing financial products, with a key focus on access to banking services and recognition of the important links with the National Payments Vision and the opportunities this presents to embed and support financial inclusion

To deliver the Strategy effectively, the Government will monitor levels of financial inclusion. There are a number of useful resources which were used in the development of the Strategy and which the Government will continue to monitor as the Strategy is delivered, including the Financial Conduct Authority’s (FCA) Financial Lives Survey and research carried out by the Money and Pensions Service (MaPS).

The Strategy’s implementation will be reviewed in two years’ time to provide an update on progress and relevant outcomes-based metrics, which will reflect on the progress made across the sector.
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UK Parliament Hansard data: wrans/answers2025-11-17 conversation_538

Warinder Juss:To ask the Chancellor of the Exchequer, what recent steps she has taken to assess the unregulated lending market. \p Lucy Rigby: The market for lending in the UK is diverse. Consumer credit is highly regulated, while business lending is largely a commercial matter save for regulatory protections that are afforded to the smallest businesses, requiring protections equivalent to those given to consumers. A number of different public bodies routinely make assessments of lending provision in the UK as a whole, its shape and character, including the British Business Bank and Bank of England. The Government takes an interest in this work, and engages with various stakeholders to understand the provision of finance in the UK and matters relating to business lending.

More widely, the Government recognises the importance of understanding private credit provision in the UK, as both banks and private markets play important roles in lending to the real economy, diversifying funding sources and supporting innovation. Globally, private markets have become an increasingly important source of finance for firms, and drove nearly all of the increase in lending to UK businesses between 2008 and 2023. The Government therefore supports the recent efforts of the Bank of England, FPC and domestic and international regulators to deepen their understanding of, and work to mitigate, any emerging risks in private markets, and better understand the connections between private credit and the wider banking system.
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Source: hansard.parliament.uk (2025-11-17)

UK Parliament Hansard data: wrans/answers2025-11-17 conversation_539

Sir James Cleverly:To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Transforming Business Rates: Interim Report, updated 17 September 2025, whether the proposed reforms on moving from a slab to slice system will be implemented for the introduction of the new surcharge for hereditaments over £500,000 Rateable Value. \p Dan Tomlinson: The Transforming Business Rates: Interim Report, published on 11 September, sets out the Government’s next steps to deliver a fairer business rates system. The Interim Report brings together extensive feedback from a broad range of stakeholders and outlines the Government’s next steps to delivery a fairer business rates system, that supports investment and is fit for the 21st century.

Stakeholders told us that the business rates system can discourage expansion into bigger properties. The Government will explore the case to move to a marginal tax rate, similar to income tax, to support investment and expansion.

The Government will provide a further update at the Budget. Transforming the business rates system is a multi-year process. The Government will consider reforms beyond Budget 2025, and any reforms taken forward will be phased over the course of the Parliament.
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Source: hansard.parliament.uk (2025-11-17)

UK Parliament Hansard data: wrans/answers2025-11-17 conversation_540

Gareth Thomas:To ask the Chancellor of the Exchequer, if she will require banks to (a) publish lending data by postcode and (b) identify the neighbourhoods where the (i) least and (ii) most lending takes place. \p Lucy Rigby: The Government has no plans to require banks to publish lending data by postcode or to identify neighbourhoods with the least and most lending. However, as I outlined in my answers to PQs 86597 (5 November) and 77972 (16 October), and as set out in the recently published Financial Inclusion Strategy, the Government is committed to ensuring that access to finance is available for individuals and businesses across the UK and to tackle barriers where these exist. The Strategy presents an ambitious programme of measures to improve access to credit, among them new funding for the credit union sector in England and a small sum lending pilot.
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Source: hansard.parliament.uk (2025-11-17)

UK Parliament Hansard data: wrans/answers2025-11-17 conversation_541

Luke Taylor:To ask the Chancellor of the Exchequer, what comparative assessment she has made of (a) reforming the G20 Common Framework for debt relief and (b) a new UN-led system for debt relief. \p Lucy Rigby: Whilst the G20 Common Framework process has been slower than the government would like, we remain committed to making it a success and are actively working with our G20 partners to ensure that it can deliver more timely, efficient, orderly and coordinated restructurings.

The UK and likeminded partners have pushed for improvements to the Framework – including advocating for greater transparency and clearer timelines in restructuring processes through the Global Sovereign Debt Roundtable and the G20 and expanding eligibility to select middle-income countries. We welcome the agreement of the recent G20 Ministerial Declaration on Debt Sustainability under the South African Presidency, and we are working with partners to ensure its commitments are implemented.

The government welcomed the package to support debt sustainability in the outcome document agreed at the UN’s Seville Conference on Financing for Development in June, specifically the strong action to improve debtor voice, debt transparency, disaster pause clauses and strengthen the Common Framework. We will maintain momentum on reforms to the existing debt architecture, including making restructurings quicker and more efficient and engage with partners on any future discussions on debt at the UN.
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Source: hansard.parliament.uk (2025-11-17)

UK Parliament Hansard data: wrans/answers2025-11-17 conversation_542

Graham Leadbitter:To ask the Chancellor of the Exchequer, how many banks have closed (a) since 4 July 2024 and (b) in the last five years. \p Lucy Rigby: The Government does not hold bank branch closure data.

Guidance from the FCA sets out its expectation of firms when they are deciding to reduce their physical branches or the number of free-to-use ATMs. Firms are expected to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs, and put in place alternatives, where this is reasonable.

The Government is working closely with banks to roll out 350 banking hubs by the end of this Parliament. These will provide individuals and businesses up and down the country with critical cash and banking services.

Over 240 hubs have been announced so far, and more than 190 are already open.
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Source: hansard.parliament.uk (2025-11-17)

UK Parliament Hansard data: wrans/answers2025-11-17 conversation_543

Siân Berry:To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential merits of increasing the amount of protection provided on single-item purchases under section 75 of the Consumer Credit Act 1974. \p Lucy Rigby: The Government recognises the importance of strong consumer protections in credit markets, including those provided under Section 75 of the Consumer Credit Act 1974. These protections help to build consumer confidence and trust, which are essential for a well-functioning credit market.

We are currently undertaking a comprehensive reform of the Consumer Credit Act to ensure it is fit for purpose in today’s modern credit landscape. Our reforms aim to simplify and modernise the framework, making it more proportionate and outcomes-focused, while ensuring that it provides robust consumer protections - such as those under Section 75. We will provide an update on the next steps in due course.
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Source: hansard.parliament.uk (2025-11-17)

UK Parliament Hansard data: wrans/answers2025-11-17 conversation_544

Mr Calvin Bailey:To ask the Chancellor of the Exchequer, if her Department will take steps to ensure that banks enable prospective customers to open bank accounts using (a) Digital ID and (b) eVisas. \p Lucy Rigby: Ensuring all individuals have access to the appropriate financial services and products they need is a key priority for Government. Financial institutions are required to ask for proof of identity for new customers when they first open an account as laid out in the Money Laundering Regulations 2017 (the Regulations). The Regulations do not stipulate how a firm should verify their customers’ identities. Firms are instead required to apply a risk-based approach to how they comply with the customer due diligence requirements in the Regulations.

The Joint Money Laundering Steering Group (JMLSG) guidance makes it clear that firms can use electronic sources to verify a customer’s identity, provided that they have both (i) verified that the customer (and where appropriate, beneficial owner) exists and (ii) satisfied themselves that the applicant seeking the business relationship is, in fact, that customer (or beneficial owner).

In September, the government set out plans for a new government-backed Digital ID scheme. This Digital ID will make it easier for people across the UK to use vital government services, but will also streamline verification processes across private sectors too, such as when opening a new bank account. The government will be launching a public consultation later this year to engage industry on the proposals.

An eVisa is an online record of a person’s immigration permission in the UK, and any conditions which apply. The Home Office published guidance on the use of eVisas for identity checks, or know your customer (KYC) checks aimed at banks and other financial institutions. Individuals with an eVisa can evidence their identity and immigration status by using the online ‘view and prove your immigration status’ service to provide a time-limited code (‘share code’) to third parties such as landlords, employers and banks.

The Home Office has also implemented a comprehensive engagement strategy to smooth the transition to eVisas and to maximise awareness raising across various sectors. This includes collaboration with key stakeholders including migrant organisations and financial services providers.

Each firm will have their own policies on identification, and on the circumstances in which other checks should be undertaken. Government does not prescribe those detailed policies but expects them to be proportionate and supports firms’ efforts to be flexible and inclusive when considering relevant documentation.
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Source: hansard.parliament.uk (2025-11-17)

UK Parliament Hansard data: wrans/answers2025-11-17 conversation_545

Mr Angus MacDonald:To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of increasing public access to free, impartial financial guidance on (a) financial wellbeing and (b) household financial resilience. \p Lucy Rigby: The government recognises the importance of supporting people of all ages to develop the financial skills needed to manage their money effectively, and has taken steps to improve the provision of accessible financial guidance.

The Money and Pensions Service (MaPS) is an arm’s length body of Government which supports consumers with free, impartial financial guidance for every stage of their financial lives. Its MoneyHelper services – available online, via webchat and over the phone - offers information on a wide range of financial topics, along with easy-to-use tools and calculators to support people in managing their finances.

MaPS also runs the Money Guiders programme, which is designed to equip frontline staff – such as nurses, social workers, job coaches and community volunteers – with the skills and confidence to have effective conversations about money with the people they support. As set out in the Financial Inclusion Strategy, published on 5th November 2025, MaPS will expand and enhance Money Guiders to deliver quality financial guidance across the UK.

To date, Money Guiders has engaged over 18,000 practitioners and partnered with nearly 300 organisations. Evidence suggests that the programme has a positive impact on practitioner knowledge and understanding relating to money guidance, and their confidence delivering it, making it easier for people to access financial guidance when they need it. MaPS continues to evaluate the reach and impact of its guidance services.