theodi/ndl-core-corpus huggingface dataset:
wrans/answers2025-10-16 conversation_19
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_19

James McMurdock:To ask the Chancellor of the Exchequer, if she will take steps to increase the Personal Allowance for pensioners in line with the level of the State Pension. \p Torsten Bell: The Government is committed to making sure older people can live with the dignity and respect they deserve in retirement. The State Pension is the foundation of the support available to them. Over the course of this Parliament, the yearly amount of the full new State Pension is currently projected to go up by around £1,900 based on the Office for Budget Responsibility's latest forecast.

The Personal Allowance - the amount an individual can earn before paying tax - will continue to exceed the basic and full new State Pension in 2025/26. This means pensioners whose sole income is the full new State Pension or basic State Pension without any increments will not pay any income tax.
wrans/answers2025-10-16 conversation_20
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_20

Euan Stainbank:To ask the Chancellor of the Exchequer, what assessment she has made of the effectiveness of the application of the Litigation and Settlement Strategy on settlements made following disguised renumeration schemes. \p Dan Tomlinson: The Government commissioned an independent review of the loan charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers. The Government will respond by Autumn Budget 2025.

The Litigation and Settlement Strategy (LSS) ensures that HMRC applies the law fairly and consistently. The LSS applies as much to the resolution of a dispute with a multinational corporation as it does to small business customers or individuals. This ensures every taxpayer, no matter who they are, pays the tax due under the law.

Central to the LSS is that HMRC will not settle a dispute by agreement for an amount which is less than it would reasonably expect to obtain from litigation.
wrans/answers2025-10-16 conversation_21
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_21

Alicia Kearns:To ask the Chancellor of the Exchequer, whether she has made an assessment of the potential impact of extending employer National Insurance contribution relief to (a) employees aged under 25 and (b) individuals returning to work from welfare on levels of (i) employment and (ii) job creation in the hospitality sector. \p Dan Tomlinson: This government is committed to supporting young people to earn or learn. That is why the Chancellor has recently announced that we will offer a guaranteed job to young people on Universal Credit who are unemployed for over 18 months. This forms a key part of the government’s Youth Guarantee, building on existing employment support and sector-based work academies, with more details to come at Autumn Budget.

We are committed to supporting all people on welfare who can work into work. At the recent Spending Review, we increased funding for employment support to over £3.5 billion by 2028-29, helping people to access the skills they need to progress, tackling inactivity and ensuring more people are in better jobs.

There are a wide range of factors to take into consideration when introducing a tax relief. These include how effective the relief would be at achieving the policy intent, how targeted support would be, whether it adds complexity to the tax system, and the cost.

The Government keeps all taxes under review as part of the policy making process. The Chancellor will announce any changes to the tax system at fiscal events in the usual way.
wrans/answers2025-10-16 conversation_22
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_22

Victoria Collins:To ask the Chancellor of the Exchequer, whether she has considered extending National Insurance Contribution exemptions; and if she will make an assessment of the potential impact of doing so on levels of recruitment in the hospitality sector. \p Dan Tomlinson: Businesses can claim a number of employer NICs reliefs including those for under-21s and under-25 apprentices. This means employers will pay no employer NICs for apprentices under 25 or employees under 21 on earnings up to £50,270.

There are a wide range of factors to take into consideration when introducing or expanding a tax relief. These include how effective the relief would be at achieving the policy intent, how targeted support would be, whether it adds complexity to the tax system, and the cost.

The Government keeps all taxes under review as part of the policy making process. The Chancellor will announce any changes to the tax system at fiscal events in the usual way.
wrans/answers2025-10-16 conversation_23
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_23

Matt Vickers:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of small business rate relief on the viability of small hospitality businesses. \p Dan Tomlinson: The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

As set out at Autumn Budget 2024, the Government will introduce permanently lower tax rates for retail, hospitality and leisure (RHL) properties with ratable values (RVs) below £500,000 from 2026-27.

Over a third of properties (more than 700,000) already pay no business rates as they receive 100 per cent Small Business Rate Relief (SBRR), with an additional c.60,000 benefiting from reduced bills as this relief tapers.

The Transforming Business Rates: Interim Report, published on 11 September, brings together extensive feedback from a broad range of stakeholders and outlines the Government’s next steps to deliver a fairer business rates system, that supports investment and is fit for the 21st century. This includes exploring a number of reforms to incentivise investment and improve the operation of the business rates system, including how SBRR could be enhanced to more effectively support investment and expansion among small businesses.

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.
wrans/answers2025-10-16 conversation_24
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_24

John Glen:To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of tax incentives on levels of investment in small and mid-sized quoted companies. \p Dan Tomlinson: The Government is committed to making the UK the best place in the world to start and grow a business, and understands how important it is for businesses to be able to access the finance they need to grow and develop.

That is why the Government provides three tax-advantaged venture capital schemes: the Enterprise Investment Scheme (EIS), the Seed Enterprise Investment Scheme (SEIS) and Venture Capital Trusts (VCTs). The schemes provide a range of tax reliefs for investors, to encourage investment in small- and medium-sized companies at the pre-listing stage, which face the biggest challenges in accessing growth capital.

The Stamp Taxes on Shares framework also contains multiples reliefs and exemptions which are designed to boost liquidity and growth, particularly for small and medium-sized companies, such as the Growth Market Exemption.
wrans/answers2025-10-16 conversation_25
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_25

Mr Andrew Snowden:To ask the Chancellor of the Exchequer, if she will take steps to engage with (a) stakeholders and (b) members of the public on inheritance tax policy. \p Dan Tomlinson: The Government published tax policy making principles on 12 June 2025. These principles underpin the Government’s approach to delivering tax policy changes, including setting out how it will engage with stakeholders during tax policy development. This is available at www.gov.uk/government/publications/tax-policy-making-principles.
wrans/answers2025-10-16 conversation_26
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_26

Carolyn Harris:To ask the Chancellor of the Exchequer, what comparative assessment her Department has made of the potential impact of excise duty rates on the competitiveness of (a) UK and (b) European distillers; and what fiscal steps she is taking to help support the domestic distilling industry. \p Dan Tomlinson: The UK spirits industry makes a vital contribution to our economy and society, with Scotch Whisky remaining the UK’s most successful food and drink export enjoyed by consumers across the globe.

UK alcohol duty is not charged on exports.

There is significant variation in alcohol taxation policy amongst European countries. The World Health Organization recently published a comparison of alcohol taxes across the WHO European Region, which can be found here: https://www.who.int/europe/publications/i/item/9789289061940 .

The UK’s alcohol taxes are generally lower than Sweden and Norway’s, and comparable to the Republic of Ireland and Finland.

Regarding support for the spirits industry, I refer the hon member to the answer that I gave to PQ UIN 80562
wrans/answers2025-10-16 conversation_27
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_27

Sarah Green:To ask the Chancellor of the Exchequer, what assessment she has made of the potential meris of removing the Low-Value Imports rule. \p Dan Tomlinson: The government is aware of the increasing prevalence of overseas retailers using the low value imports regime and the proposed changes to equivalent regimes made by our international partners. In recognition of this, the Chancellor announced a review of the customs treatment for low value imports in April.

Since this announcement, Ministers and officials have engaged a wide range of stakeholders on the impact and operation of these arrangements. The findings from this engagement will help determine our next steps.
wrans/answers2025-10-16 conversation_28
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_28

Callum Anderson:To ask the Chancellor of the Exchequer, what steps her Department is taking to align dematerialisation reforms with other financial market infrastructure initiatives. \p Lucy Rigby: In July, the Digitisation Taskforce published its final report. The Taskforce, chaired by Sir Douglas Flint, assessed how the UK can eliminate the use of paper share certificates for traded companies, which create inefficiencies and costs for companies and investors, and improve the intermediated system of share ownership so that investors are better able to exercise rights associated with shares which intermediaries hold on their behalf.

These are important steps as part of the government’s Wholesale Financial Markets Digital Strategy to make UK capital markets more efficient, resilient and competitive.

The government has recently established the Dematerialisation Market Action Taskforce, led by Mark Austin, to take forward the recommended reforms.
wrans/answers2025-10-16 conversation_29
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_29

Callum Anderson:To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of the UK–Switzerland financial dialogue on financial services exports. \p Lucy Rigby: Financial regulatory dialogues, including the UK-Switzerland Financial Dialogue, are important to supporting cross-border trade in financial services and managing financial stability in the global financial system. They form a core part of the government’s approach to strengthening international partnerships, as set out in the Financial Services Growth and Competitiveness Strategy published in July. Dialogues feed into HM Treasury’s development of international financial services policy and joint statements are typically published after meetings.

The most recent UK-Switzerland Financial Dialogue was held on Thursday 9 October in Bern, where officials discussed bilateral cooperation on financial regulatory issues. Further details of the discussion can be found in the Joint Statement. Participants also discussed future opportunities to further develop the Berne Financial Services Agreement, noting that Article 12 of the Agreement commits the UK and Switzerland to enter into negotiations with a view to potentially expanding the Agreement to include sustainable finance at the appropriate time.
wrans/answers2025-10-16 conversation_30
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_30

Nadia Whittome:To ask the Chancellor of the Exchequer, what steps she is taking to ensure that the review of the Loan Charge is (a) independent, (b) transparent, (c) robust and (d) free from interference. \p Dan Tomlinson: The Government commissioned an independent review of the loan charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers. The Government will respond by Autumn Budget 2025.

The independent review was led by Ray McCann whose name was suggested by one of the Loan Charge campaigners. The terms of reference made it clear that he would be supported by a team of officials based outside of HM Treasury and HMRC, none of whom had previously worked on this policy area. Mr McCann was responsible for deciding how to conduct the review and will also have the final say on what is included in his report.

HMRC has guidance and training in place for customer advisors on identifying people who need extra support and providing reasonable adjustments to meet their needs. HMRC can offer support to individuals with disguised remuneration liabilities through manageable payment plans and its well-established Extra Support Service.

Where appropriate, HMRC will signpost people to relevant voluntary and community organisations and where needed, to a dedicated Samaritans helpline for specialist emotional support where people can talk though any concerns or worries.
wrans/answers2025-10-16 conversation_31
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_31

John Glen:To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that the UK remains an (a) attractive investment environment and (b) listing venue for small and mid-sized quoted companies. \p Lucy Rigby: The government has delivered an ambitious programme of reforms to boost the competitiveness of UK markets, including for small and mid-sized quoted companies. This includes overhauling the Prospectus regime and Listing Rules, providing more flexibility to firms and founders raising capital on UK markets and reducing reporting requirements for the smallest companies.

At Mansion House 2025, the government published its Financial Services Growth and Competitiveness Strategy, setting out our ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets a core pillar of the strategy.
wrans/answers2025-10-16 conversation_32
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_32

Ben Obese-Jecty:To ask the Chancellor of the Exchequer, with reference to the UK’s Modern Industrial Strategy, CP 1337, published on 23 June 2025, what progress she has made on enabling FinTechs to list on the stock market. \p Lucy Rigby: The Government has delivered an ambitious programme of reforms to make it easier for all firms, including fintechs, to list and raise capital on UK markets. This includes overhauling the Prospectus regime and Listing Rules, providing more flexibility to firms and founders raising capital on UK markets.

At Mansion House 2025, the Government published its Financial Services Growth and Competitiveness Strategy, setting out our ten-year plan for the UK to be the world’s centre of choice for financial services investment now and in 2035, with capital markets and fintech as core pillars of the strategy.
wrans/answers2025-10-16 conversation_33
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_33

Jas Athwal:To ask the Chancellor of the Exchequer, what steps she is taking to help reduce barriers to home ownership in London for first-time buyers. \p Lucy Rigby: The most sustainable long-term method to improve housing affordability and help people into homeownership is to increase the supply of housing. The government is committed to building 1.5 million homes this parliament (compared to the 1 million homes delivered the last parliament). In December, we announced major changes to the National Planning Policy Framework, including the restoration of mandatory housing targets and changes to allow development on ‘grey belt’. These reforms were forecast by the OBR to deliver 170,000 additional homes and add £6.8bn to the economy by 2029/30.

We have worked with the FCA and the Bank of England, who have clarified and increased the flexibility of their mortgage regulations. This is helping more customers – especially first-time buyers – to borrow what they need to buy the homes they want, while retaining protections so that lending remains affordable and responsible.
wrans/answers2025-10-16 conversation_34
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_34

Gregory Stafford:To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential impact of the higher business rates multiplier for larger premises on (a) the prices of essential goods, (b) shop closures, (c) regional employment levels and (d) footfall in town centres. \p Dan Tomlinson: The Government is creating a fairer business rates system that protects the high street, supports investment, and is fit for the 21st century.

As set out at Autumn Budget 2024, the Government will introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with ratable values (RVs) below £500,000 from 2026-27. This permanent tax cut will ensure they benefit from much-needed certainty and support.

This tax cut must be sustainably funded, and so the Government will introduce a higher rate on the most valuable properties in 2026/27 - those with RVs of £500,000 and above. These represent less than one per cent of all properties, but cover the majority of large distribution warehouses, including those used by online giants.

The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the Government can factor the revaluation outcomes and broader economic and fiscal context into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.
wrans/answers2025-10-16 conversation_35
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_35

Harriet Cross:To ask the Chancellor of the Exchequer, what assessment her Department has made of the potential impact of a lifetime gift cap on the ability of family (a) farms and (b) businesses to mitigate changes to (i) Agricultural and (ii) Business Property Relief. \p Dan Tomlinson: There is no lifetime cap on gifts for inheritance tax purposes. Information on the rules is available at www.gov.uk/inheritance-tax/gifts.

The Chancellor of the Exchequer makes tax policy decisions at fiscal events and the Government does not comment on speculation around future changes to tax policy.
wrans/answers2025-10-16 conversation_36
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_36

Euan Stainbank:To ask the Chancellor of the Exchequer, whether the Government have reviewed the underspend on the Equitable Life Payment Scheme. \p Torsten Bell: Under the previous Conservative Government, the Equitable Life Payment Scheme was wound down and closed in 2016. The only remaining part of the Payment Scheme in operation is the annual payments made to eligible With-Profit-Annuitants and the Scheme is on track to distribute the remainder of the £1.5 billion as planned.

There are no plans to reopen any decisions relating to the Payment Scheme or review the £1.5 billion funding allocation previously made to it. Further guidance on the status of the Payment Scheme after closure is available at: https://www.gov.uk/guidance/equitable-life-payment-scheme#closure-of-the-scheme.
wrans/answers2025-10-16 conversation_37
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_37

Mr Angus MacDonald:To ask the Chancellor of the Exchequer, what discussions her Department has had with J D Wetherspoon on their policy on accepting Scottish banknotes in their premises in England. \p Lucy Rigby: There is no legal requirement for businesses to accept specific forms of payment. Each business decides which payment methods to accept based on factors including cost and customer needs and preferences. The Government has no plans to compel businesses to accept any particular form of payment. That said, in recognition that millions of people continue to use cash, the Financial Services and Markets Act 2023 introduced safeguards to protect the public's access to cash.

The UK is unusual in allowing several commercial banks to issue their own banknotes. As well as Bank of England issued notes, authorised banks in Scotland and Northern Ireland issue banknotes in those jurisdictions. However, it remains the individual retailer’s choice whether to accept or decline any form of payment, including cash or card, based on their consideration of factors such as customer preference and cost.

Treasury Ministers meet with a wide variety of organisations in the public and private sectors as part of the regular business of government. Details of ministerial meetings with external organisations on departmental business are published on a quarterly basis and are available at the following link: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel.
wrans/answers2025-10-16 conversation_38
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_38

Mr Angus MacDonald:To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that Scottish banknotes are treated as legal currency by businesses operating in England. \p Lucy Rigby: The UK is unusual in allowing several commercial banks to issue their own banknotes. As well as Bank of England issued notes, authorised banks in Scotland and Northern Ireland issue banknotes in those jurisdictions. However, it remains the individual retailer’s choice whether to accept or decline any form of payment, including cash or card, based on their consideration of factors such as customer preference and cost.   Legal tender status does not oblige businesses to accept a particular form of payment in everyday transactions. This stems from legal tender having a narrow technical meaning in UK law, specifically referring to what constitutes a valid payment of debt in court proceedings. If a debtor pays into court in legal tender, they have a good defence against a claim for non-payment.

More broadly, the Government recognises that cash continues to be used by millions of people across the UK, including those in vulnerable groups, and is committed to protecting access to cash for individuals and businesses who choose to use it. In recognition of this, the Financial Services and Markets Act 2023 introduced safeguards to protect the public's access to cash.
wrans/answers2025-10-16 conversation_39
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_39

Mr Angus MacDonald:To ask the Chancellor of the Exchequer, what discussions her Department has had with the Financial Conduct Authority on the guidance it provides to banks on the treatment of small community groups that operate for public benefit but are not registered charities in relation to account service charges. \p Lucy Rigby: Community groups make a valuable contribution across the country, and it is important that they can access suitable banking services.

The provision of bank accounts to organisations, including companies, charities, and partnerships, is a commercial matter and differs fundamentally from the provision of accounts to individuals, due to differences in legal status, risk, and regulation. The Government continues to monitor wider access to bank account provision but recognises that this is largely a commercial matter in which it does not intervene.

At the Government’s encouragement, however, UK Finance, working with banks and charity representative groups, have produced the Voluntary Organisation Banking Guide, which supports charities and community groups in accessing banking services. This includes an account finder tool for charities and community groups, and includes information on fees.

It is important that community groups consider a range of providers for their banking needs, as this encourages competition, improves choice, and helps keep prices competitive.
wrans/answers2025-10-16 conversation_40
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_40

Dr Ellie Chowns:To ask the Chancellor of the Exchequer, with reference to the correspondence entitled Monetary Policy Remit, published on 15 November 2024, what assessment she has made of the effectiveness of the Monetary Policy Committee’s progress in (a) delivering long-term growth and (b) accelerating the transition to a (i) climate resilient, (ii) nature positive and (ii) net zero economy. \p Lucy Rigby: Monetary policy is the responsibility of the independent Monetary Policy Committee (MPC) of the Bank of England, so the government does not comment on the conduct or effectiveness of monetary policy.

The MPC’s primary objective is to achieve price stability. Subject to that, its secondary objective is to support the economic policy of the government, which is “to restore broad-based and resilient growth built on strong and secure foundations”. As the Chancellor said in a letter to the Governor on 18 September 2025, low and stable inflation is essential for long-term economic growth and sustained increases in living standards.

Delivering on the climate and nature is one part of the government’s broader economic strategy and it is up to the MPC to judge how it sets monetary policy in line with its remit. Consistent with its remit, the MPC sets monetary policy in a way that helps to sustain growth and employment.

The MPC has the government’s full support as it acts to return inflation to the 2% target sustainably.
wrans/answers2025-10-16 conversation_41
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_41

Dr Ellie Chowns:To ask the Chancellor of the Exchequer, if she will make it her policy to instruct the Bank of England to publish a strategy detailing how it will support the UK’s (a) climate and nature goals and (b) green energy mission. \p Lucy Rigby: The Government is committed to integrating climate and nature into economic and financial decision making. The remits for the Financial Policy Committee, Prudential Regulation Committee and Monetary Policy Committee all set out the government’s economic strategy, which includes accelerating the transition to a climate resilient, nature positive and net zero economy. Climate-related considerations are therefore embedded across the Bank of England’s work, including in relation to its statutory objectives for price and financial stability.

The Bank published its Climate Transition Plan in June 2023, and it also publishes annual climate-related financial disclosures. These annual reports set out the climate risks to which the Bank is exposed, the emissions associated with the Bank’s own financial and physical operations and the Bank’s work on climate change.
wrans/answers2025-10-16 conversation_42
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_42

Matt Vickers:To ask the Chancellor of the Exchequer, what discussions she has had with industry representatives on ensuring fair access to finance for hospitality businesses. \p Lucy Rigby: The Government is committed to supporting the hospitality sector and officials in the Treasury and the Department of Business and Trade engage regularly with stakeholders in the sector to understand their views. We are dedicated to ensuring that businesses across the UK, including those in the hospitality sector, can access the capital they need to grow.

While the provision of financial services to companies is largely a commercial matter, the Government believes all customers should be treated fairly. The UK has a diverse and competitive financial services sector and businesses should consider a range of providers for their finance needs, as this encourages competition, improves choice, and helps keep prices competitive.

Working with the British Business Bank (BBB), we are delivering a range of targeted interventions for businesses, including those in the hospitality sector, such as loan guarantee programmes and equity investments, designed to address regional funding gaps and unlock investment opportunities.

The recent Spending Review settlement has increased the BBB’s total financial capacity to £25.6 billion, a two-thirds uplift compared to previous years, enabling the Bank to back tens of billions of pounds’ worth of additional lending and investment to SMEs and scale-ups.
wrans/answers2025-10-16 conversation_43
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_43

Jas Athwal:To ask the Chancellor of the Exchequer, whether she plans to reform (a) Lifetime ISAs and (b) Stamp Duty Land Tax to support first time buyers in London. \p Lucy Rigby: SDLT continues to be an important source of government revenue, raising around £12 billion each year to help pay for the essential services the government provides. Any changes to SDLT would therefore have to be carefully considered given the potential effect on public finances.

The Government is committed to helping first-time buyers own their own home. The Lifetime ISA remains focused on supporting people to achieve the aspiration of home ownership, or to build up savings for later life.

The Government keeps all taxes under review as part of the usual tax policy making process.
wrans/answers2025-10-16 conversation_44
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_44

Jess Brown-Fuller:To ask the Chancellor of the Exchequer, if she will make an assessment of the potential impact of the Lifetime ISA price threshold on prospective first-time buyers in Chichester constituency. \p Lucy Rigby: Data from the latest UK House Price Index shows that while the average price paid by first-time buyers has increased, it is still below the LISA property price cap in all regions of the UK except for London, where the average price paid is affected by boroughs with very high property values.

HMRC commits to publishing all research in their Annual Report and Accounts. The findings from all strands of research on the LISA will be published in due course.

The Government keeps all aspects of savings tax policy under review.
wrans/answers2025-10-16 conversation_45
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_45

Kevin Hollinrake:To ask the Chancellor of the Exchequer, pursuant to the Answer of 29 August 2025 to Question 68763 and to the Answer of 8 September 2025 to Question 74201 on Alcoholic Drinks, if she will make an assessment of the potential merits of allowing the financing of alcohol-related spending in green bond frameworks. \p Lucy Rigby: The Government provides financial support for green technologies, including those related to the manufacturing of alcoholic beverages. These policies are not funded via the Green Financing Programme: in line with international norms and investor expectations for green bond frameworks, the financing of the direct manufacture of alcoholic beverages is excluded from the Green Financing Framework.

This approach enables the UK’s green gilts to be accessible to the greatest possible pool of investors, improving value-for-money. Allowing the financing of alcohol-related spending within the Framework would not change policy decisions or the level of public spending but could prohibit some investors from purchasing the green gilt, thus reducing value-for-money.
wrans/answers2025-10-16 conversation_46
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_46

Mr Angus MacDonald:To ask the Chancellor of the Exchequer, what guidance her Department provides to banks to encourage fair treatment of non-charitable community groups in relation to service charges and account fees. \p Lucy Rigby: Community groups make a valuable contribution across the country, and it is important that they can access suitable banking services.

The provision of bank accounts to organisations, including companies, charities, and partnerships, is a commercial matter and differs fundamentally from the provision of accounts to individuals, due to differences in legal status, risk, and regulation. The Government continues to monitor wider access to bank account provision but recognises that this is largely a commercial matter in which it does not intervene.

At the Government’s encouragement, however, UK Finance, working with banks, and charity representative groups have produced the Voluntary Organisation Banking Guide, which supports charities and other community groups in accessing banking services. This includes an account finder tool for charities and community groups, and includes information on fees.

It is important that community groups consider a range of providers for their banking needs, as this encourages competition, improves choice, and helps keep prices competitive.
wrans/answers2025-10-16 conversation_47
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_47

Peter Lamb:To ask the Chancellor of the Exchequer, what assessment she has made of the potential merits of using the full value of frozen Russian assets to support Ukraine. \p Lucy Rigby: Addressing Ukraine’s financing needs is vital for ensuring Ukraine can continue to defend itself against Russian aggression. On 1 October, the Chancellor alongside her G7 Finance Minister counterparts committed to developing options for using the full value of Russian sovereign assets immobilised in G7 jurisdictions.

On 10 October the Prime Minister confirmed that the UK, France and Germany were ready to progress towards using immobilised Russian sovereign assets to support Ukraine’s armed forces and thus bring Russia to the negotiation table. The UK is determined to make progress on this issue at pace and will continue to work with G7 partners to develop options that are in line with international law.
wrans/answers2025-10-16 conversation_48
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_48

Mr Angus MacDonald:To ask the Chancellor of the Exchequer, what steps her Department is taking to ensure that UK banks provide accessible banking services for community groups that are not registered charities. \p Lucy Rigby: Community groups make a valuable contribution across the country, and it is important that they can access suitable banking services.

However, decisions about what products are offered, and to whom, remain commercial decisions for banks and building societies, due to differences in legal status, risk, and regulation. This also necessitates that decisions concerning the provision of products, including account charges, are largely commercial decisions for these institutions.

At the Government’s encouragement, UK Finance, working with banks and charity representative groups, have produced the Voluntary Organisation Banking Guide, which supports charities and other community groups in accessing banking services. This includes an easy-to-use account finder tool for charities and community groups, and includes information on fees.

It is important that community groups consider a range of providers for their banking needs, as this encourages competition, improves choice, and helps keep prices competitive.
wrans/answers2025-10-16 conversation_49
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_49

Sir John Whittingdale:To ask the Chancellor of the Exchequer, what steps her Department has taken through the (a) Financial Conduct Authority and (b) Payment Systems Regulator to establish the reasons for which banks have not engaged directly with investors in resolving authorised push payment reimbursement claims relating to investments made (i) before and (ii) after 7 October 2024; and what (A) findings, (B) correspondence and (C) further steps have resulted from this work. \p Lucy Rigby: Treasury Ministers have meetings with a wide variety of organisations in the public and private sectors as part of the process of policy development and delivery. Details of ministerial meetings with external organisations on departmental business are published on a quarterly basis and are available at the link below.

https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel

All payment services providers, including banks, are required to comply with the Payment Systems Regulator’s authorised push payment (APP) scam reimbursement regime, which came into force on 7 October 2024. This requires firms to reimburse victims for qualifying APP scams which took place from 7 October 2024 and over the Faster Payments System up to the value of £85,000. For APP scams which took place before this, these may be eligible for reimbursement under the Contingent Reimbursement Model Code, which applied from May 2019 and was signed by the UK’s largest banks and building societies.

The 79th group are currently subject to an ongoing investigation by The City of London Police. As such the Government is unable to comment on the specifics of the case.

The FCA and PSR have recently written to financial services firms setting out their expectation that firms should determine whether any claims, or parts of claims, are a qualifying APP scam, on an individual basis.
wrans/answers2025-10-16 conversation_50
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_50

Sir John Whittingdale:To ask the Chancellor of the Exchequer, what recent discussions her Department has had with UK Finance on proposed changes to the (a) role and (b) remit of the Financial Ombudsman Service; and what assessment her Department has made of the potential impact of those proposed changes on protections for (i) people in the 79th Group and (b) other vulnerable investors. \p Lucy Rigby: Treasury Ministers meet with a wide variety of organisations in the public and private sectors as part of the regular business of government. Details of ministerial meetings with external organisations on departmental business are published on a quarterly basis and are available at the following link: https://www.gov.uk/government/collections/hmt-ministers-meetings-hospitality-gifts-and-overseas-travel

The Government engaged a wide range of stakeholders as part of its review of the Financial Ombudsman Service (FOS), which was conducted between March and July 2025. The Government recently consulted on proposed reforms following the conclusion of the review, and the consultation closed on 8 October 2025. The Government is now reviewing responses, and will set out its proposed next steps in due course. The review’s findings and the consultation on proposed reforms can be found here: https://www.gov.uk/government/consultations/fs-sector-strategy-review-of-the-financial-ombudsman-service.

The Government’s proposed reforms will not undermine the important role of the FOS in providing consumers with a cost-free route to quickly and easily resolve disputes with financial services firms. The review concluded that the FOS’s role providing an impartial dispute resolution service within the financial services regulatory framework should be preserved, and that the fair and reasonable test remains appropriate for its position as an informal alternative to the courts.

The Government is proposing that the fair and reasonable test should be retained and adapted to align with the overall regulatory approach for financial services, so that where conduct complained of is in scope of FCA rules, a firm will be considered to have acted fairly and reasonably.

These reforms will improve the regulatory coherence between the FOS and the Financial Conduct Authority (FCA), to deliver a more consistent and predictable regulatory environment, which the Government believes will benefit both consumers and industry..

The 79th Group is subject to an ongoing investigation by The City of London Police. As such the Government is unable to comment on the specifics of the case. However, the FCA and PSR have recently written to financial services firms setting out their expectation that firms should determine whether any claims, or parts of claims, are a qualifying APP scam, on an individual basis.
wrans/answers2025-10-16 conversation_51
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_51

Callum Anderson:To ask the Chancellor of the Exchequer, what steps she plans to to take to monitor the outcomes of the Joint EU-UK Financial Regulatory Forum. \p Lucy Rigby: Financial regulatory dialogues, including the Joint EU-UK Financial Regulatory Forum, are important in supporting cross-border trade in financial services and managing financial stability in the global financial system. They form a core part of the government’s approach to strengthening international partnerships, as set out in the Financial Services Growth and Competitiveness Strategy published in July.

Dialogues feed into HM Treasury’s development of international financial services policy and joint statements are typically published after meetings.

The most recent Joint EU-UK Financial Regulatory Forum was held in Brussels on Wednesday 1 October, where officials discussed bilateral cooperation on financial regulatory issues including capital market reforms, where the government’s long-term vision for the UK’s world-leading markets is to encourage more retail investment to benefit our citizens, support British businesses to grow and position ourselves for the future. Further details of the discussion can be found in the Joint Statement.
wrans/answers2025-10-16 conversation_52
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_52

Sarah Green:To ask the Chancellor of the Exchequer, what estimate she has made of the potential losses to the exchequer as a result of sales made on online market places by companies which trade only for a short period then are closed before VAT arrears can be recovered. \p Dan Tomlinson: HMRC do not have an estimate of the losses arising as a result of sales made on online marketplaces by companies which trade only for a short period then are closed before VAT arrears can be recovered.
wrans/answers2025-10-16 conversation_53
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_53

James McMurdock:To ask the Chancellor of the Exchequer, whether her Department plans to review the personal tax allowance threshold to prevent pensioners paying income tax. \p Torsten Bell: The Personal Allowance - the amount an individual can earn before paying tax - will continue to exceed the basic and full new State Pension in 2025/26. This means pensioners whose sole income is the full new State Pension or basic State Pension without any increments will not pay any income tax.

The Government is committed to making sure older people can live with the dignity and respect they deserve in retirement. The State Pension is the foundation of the support available to them. Over the course of this Parliament, the yearly amount of the full new State Pension is currently projected to go up by around £1,900 based on the Office for Budget Responsibility's latest forecast.
wrans/answers2025-10-16 conversation_54
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_54

Richard Burgon:To ask the Chancellor of the Exchequer, whether her Department plans to send a delegation to the Third Session of the Intergovernmental Negotiating Committee on the UN Framework Convention on International Tax Cooperation, which will be held from 10-19 November 2025 in Nairobi. \p Dan Tomlinson: The UK is committed to working with all stakeholders to ensure inclusive and effective international tax cooperation. The UK will continue to engage actively in negotiations at the UN over a future Framework Convention, including at the next meeting of the Intergovernmental Negotiating Committee in Nairobi in November.

The UK believes that a UN Tax Framework Convention has the potential to further advance international tax cooperation, but to be successful, it needs to be clear in its aims, avoid duplicating initiatives, and seek to secure the broad support and participation of members.
wrans/answers2025-10-16 conversation_55
Source: hansard.parliament.uk (2025-10-16)

UK Parliament Hansard data: wrans/answers2025-10-16 conversation_55

Gareth Thomas:To ask the Chancellor of the Exchequer, whether she has made an estimate of changes to the cost of trading with the EU for financial services firms based in the UK since the EU-UK Trade and Cooperation Agreement came into force. \p Lucy Rigby: The Trade and Cooperation Agreement remains a cornerstone of our relationship with the EU. The government is committed to its full implementation and to maximising the benefits for UK citizens and businesses. However, it is for the Office for Budget Responsibility (OBR) to provide independent and authoritative analysis and forecasting for the UK public finances.

We have reset our relations with European partners in order to improve our diplomatic, economic, and security cooperation following Brexit. The Prime Minister hosted the inaugural UK-EU Summit on 19 May 2025, where we reached a significant new agreement to build a new strategic partnership with the EU. It was the first of annual summits, that will provide opportunities to strengthen our relationship and ensure that opportunities for cooperation are maximised for years to come.

In financial services, strengthening our relationships with all international partners, including the EU, is a key focus of the government’s Financial Services Growth and Competitiveness Strategy published in July.