Every parliamentary written question tabled by Callum Anderson this session, with the full answer and department. Back to the MP page.
Showing 1–20 of 188 · Treasury
What estimate she has made of the volume of private capital that could be unlocked through partnerships with venture capital firms in the defence sector.
The Government recognises the important role that venture capital and other private investors play in backing innovation across the economy. The forthcoming Defence Finance Investment Strategy will be the Government’s blueprint for how we increase the capital available to improve warfighting readiness while also driving UK growth.
What steps she is taking to ensure the UK remains internationally competitive in financial technology innovation.
The UK is a world leader in Fintech, and attracted $3.6 billion of investment in 2025, second only to the US. The Government is committed to making the UK the world’s most technologically advanced global financial centre, and remaining a leading jurisdiction for Fintech firms to start, scale, list, and stay. In addition to measures announced in the Financial Competitiveness and Growth Strategy and at Budget, the Government set out at UK Fintech Week 2026 further detail on how it intends to modernise payment services regulation and update it to support new innovations in money and payments, ahead of soon publishing a consultation inviting the payments sector to feedback. This includes improving the regulation of payment services and electronic money by better integrating it with the UK’s core regulatory approach for financial services; regulating stablecoins for their use in payments, where these stablecoins have been issued under the forthcoming new regulated activity for stablecoin issuance in the UK; exploring how the regulation of payments services should adapt to payments conducted by AI agents; and providing the FCA new powers to regulate the future of Open Banking. The Government also published as part of the package draft secondary legislation to cut administrative burdens for companies wanting to provide stablecoin payments.The Government has also appointed Chris Woolard CBE as Wholesale Digital Markets Champion, to provide market leadership and support industry progress on the development of a tokenised wholesale financial markets ecosystem.
Commonwealth and Development Affairs, what discussions she has had with international financial institutions on mechanisms to mobilise private capital to support developing economies.
The UK Government firmly believes that mobilising private capital is critical to raise the finance needed to achieve our development and climate objectives and helping drive economic growth both in developing economies and at home here in the UK. That is why the UK is shifting from donor to investor and the International Financial Institutions are among our most important partners for mobilising private capital at scale.We have regular engagement with them both through our representation on their Boards and through Ministerial engagement, such as at the recent World Bank and International Monetary Fund (IMF) Spring Meetings, which the Chancellor and Minister for Development both attended.We want to support Multilateral Development Banks to reform their business model to further scale financing to developing countries, help build strong project pipelines and mitigate risks to attract more private capital. We also want them to help improve investment conditions and build local financial sector and local currency markets and to share more data on their investments.
Commonwealth and Development Affairs, what steps her Department is taking to support energy security through international co-operation following discussions at the IMF Spring Meetings.
It has not proved possible to respond to the hon. Member in the time available before Prorogation.
What assessment she has made of the potential merits of issuing retail bonds to support increased defence investment.
The majority of government borrowing is financed through the issuance of UK government bonds (known as gilts) by the UK Debt Management Office (DMO). In addition, some of the government’s financing is raised in the retail savings market through products offered by National Savings and Investments (NS&I). Finance raised via gilts or NS&I products is generally not tied to specific areas of government spending, in order to offer the best value-for-money for taxpayers. The government keeps the introduction of new debt financing instruments under regular review.
What steps her Department is taking to mitigate risks to UK economic security arising from financial instability in the Middle East.
Since the start of the conflict the Government has engaged allies and partners to urge de-escalation and shared efforts towards diplomacy, and has taken action to protect the UK public from the rising cost of living by providing immediate support for vulnerable heating oil customers and bringing energy bills down. HM Treasury has also been working closely with the financial regulators to monitor potential risks to financial stability, including through its membership of the Bank of England’s Financial Policy Committee (FPC) and the global Financial Stability Board (FSB). The FPC is responsible in the UK for identifying, monitoring and taking action to remove or reduce systemic risks to the UK financial system. In its April 2026 Record, the FPC assessed that conflict in the Middle East represents a negative supply shock to the global economy. The FPC noted that while the financial system has remained resilient, and the UK banking system has the capacity to support households and businesses even if conditions were to be substantially worse than expected, the conflict has increased global uncertainty following a period of already elevated risks and called for firms to actively manage their risks.
What assessment she has made of the potential impact of discussions at the UK–US Financial Regulatory Working Group on (a) financial stability and (b) cross-border regulatory co-operation.
The Financial Regulatory Working Group (FRWG) was established in 2018 with a view to deepen bilateral financial regulatory cooperation between the UK and the US, including on issues relating to financial stability and to take stock of economic trends and market conditions. Further details on what was discussed at the most recent FRWG on 25 February 2026 can be found here: U.S. – UK Financial Regulatory Working Group Winter 2026: Joint Statement - GOV.UK. The UK and US are also working closely together on the Transatlantic Taskforce for Markets of the Future, which was established jointly by HM Treasury and US Treasury on 22 September. The Taskforce is exploring options to strengthen linkages between UK and US capital markets, supporting growth and competitiveness in both jurisdictions by reducing burdens for UK and US firms raising capital-cross border. It is also exploring opportunities for collaboration on digital assets and other innovative financial activities. HM Treasury and the US Treasury have conducted joint senior-level industry engagement in both London and Washington DC to ensure the Taskforce’s work is informed by what matters most to industry on both sides of the Atlantic. The Taskforce aims to report back to both finance ministries on its recommendations via the FRWG in summer 2026.
What assessment she has made of the potential impact of enhanced UK-US regulatory co-operation on the competitiveness of UK capital markets.
The Financial Regulatory Working Group (FRWG) was established in 2018 with a view to deepen bilateral financial regulatory cooperation between the UK and the US, including on issues relating to financial stability and to take stock of economic trends and market conditions. Further details on what was discussed at the most recent FRWG on 25 February 2026 can be found here: U.S. – UK Financial Regulatory Working Group Winter 2026: Joint Statement - GOV.UK. The UK and US are also working closely together on the Transatlantic Taskforce for Markets of the Future, which was established jointly by HM Treasury and US Treasury on 22 September. The Taskforce is exploring options to strengthen linkages between UK and US capital markets, supporting growth and competitiveness in both jurisdictions by reducing burdens for UK and US firms raising capital-cross border. It is also exploring opportunities for collaboration on digital assets and other innovative financial activities. HM Treasury and the US Treasury have conducted joint senior-level industry engagement in both London and Washington DC to ensure the Taskforce’s work is informed by what matters most to industry on both sides of the Atlantic. The Taskforce aims to report back to both finance ministries on its recommendations via the FRWG in summer 2026.
What steps her Department is taking to strengthen UK–US co-operation on digital finance and innovation.
The Financial Regulatory Working Group (FRWG) was established in 2018 with a view to deepen bilateral financial regulatory cooperation between the UK and the US, including on issues relating to financial stability and to take stock of economic trends and market conditions. Further details on what was discussed at the most recent FRWG on 25 February 2026 can be found here: U.S. – UK Financial Regulatory Working Group Winter 2026: Joint Statement - GOV.UK. The UK and US are also working closely together on the Transatlantic Taskforce for Markets of the Future, which was established jointly by HM Treasury and US Treasury on 22 September. The Taskforce is exploring options to strengthen linkages between UK and US capital markets, supporting growth and competitiveness in both jurisdictions by reducing burdens for UK and US firms raising capital-cross border. It is also exploring opportunities for collaboration on digital assets and other innovative financial activities. HM Treasury and the US Treasury have conducted joint senior-level industry engagement in both London and Washington DC to ensure the Taskforce’s work is informed by what matters most to industry on both sides of the Atlantic. The Taskforce aims to report back to both finance ministries on its recommendations via the FRWG in summer 2026.
What recent assessment she has made of the potential effect of developments in the Middle East on global financial stability.
Since the start of the conflict the Government has engaged allies and partners to urge de-escalation and shared efforts towards diplomacy, and has taken action to protect the UK public from the rising cost of living by providing immediate support for vulnerable heating oil customers and bringing energy bills down. HM Treasury has also been working closely with the financial regulators to monitor potential risks to financial stability, including through its membership of the Bank of England’s Financial Policy Committee (FPC) and the global Financial Stability Board (FSB). The FPC is responsible in the UK for identifying, monitoring and taking action to remove or reduce systemic risks to the UK financial system. In its April 2026 Record, the FPC assessed that conflict in the Middle East represents a negative supply shock to the global economy. The FPC noted that while the financial system has remained resilient, and the UK banking system has the capacity to support households and businesses even if conditions were to be substantially worse than expected, the conflict has increased global uncertainty following a period of already elevated risks and called for firms to actively manage their risks.
What assessment she has made of the potential impact of high levels of household cash savings on long-term financial resilience and returns for UK consumers.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget. The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing. In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances. In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
What steps her Department is taking with other Government departments to improve (i) financial education and (ii) investment literacy among the public.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget. The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing. In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances. In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
What steps she is taking to ensure that regulatory frameworks support greater access to low-cost retail investment products.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget. The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing. In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances. In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
What steps her Department is taking to encourage greater participation in equity investment among UK households.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget. The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing. In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances. In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
What assessment she has made of the potential implications for economic growth of the proportion of UK household wealth held directly in equities being lower than in other G7 countries.
The Government wants to see more people benefit from the higher returns and long-term financial resilience that investing can provide, which will also benefit UK capital markets and the wider economy. That is why the Chancellor has set out a series of bold measures to get Britain investing again, including the reforms to ISAs announced at Autumn Budget. The Government and Financial Conduct Authority (FCA) are working closely with the industry-led initiatives to promote the benefits of investing to the public, and to reform how firms talk about the risks and benefits of investing. In addition, HM Treasury has worked closely with the FCA on the introduction of targeted support, which went live on 6 April. This allows authorised firms, with the relevant permission, to provide customers with proactive help on investment decisions, including suggesting specific products – helping people to act on information and make choices that are right for their circumstances. In the longer term, HM Treasury is working closely with the Department for Education to strengthen financial education. As part of the Financial Inclusion Strategy, published in November 2025, the Government announced that financial education will be made compulsory in primary schools in England, alongside a renewed focus on financial education in secondary schools.
What assessment she has made of the potential for greater regulatory interoperability between the UK and Japan to reduce barriers to financial services exports.
The Government recognises the value of deepening relationships with international partners, such as Japan, to support global financial stability, a cohesive regulatory landscape, and growth and investment in the UK. Financial regulatory dialogues, including the Japan-UK Financial Regulatory Forum (FRF), are important in supporting cross-border trade in financial services and 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. The most recent Japan-UK FRF was on 18 March 2026 in Tokyo, alongside joint sessions with the seventh meeting of the Financial Dialogue. The Forum provided an opportunity for a deep and meaningful exchange across a broad set of economic, fiscal and financial regulatory issues, including alignment on international sustainability reporting standards, digital finance and international banking. Further details of the discussions can be found in the Joint Statement.
What steps she is taking to align the UK’s regulatory framework for (i) digital assets and (ii) stablecoins with key international partners to support global market access for UK firms.
The government is maintaining close engagement with the UK’s international partners on digital asset and stablecoin market access opportunities. The government is committed to making the UK a leading global destination for digital assets.
What steps she is taking to ensure the UK remains internationally competitive in (i) sustainable finance and (ii) transition finance.
The Financial Services Growth and Competitiveness Strategy set out the government’s vision for the UK’s sustainable finance regulatory framework, which prioritises championing the UK’s world leading sustainable finance sector to innovate and adapt to upcoming developments. The government published the UK Sustainability Reporting Standards for voluntary use on 25 February. These aim to support long-term, sustainable decision-making by the business and investment community by providing high-quality and comparable information about the sustainability-related risks and opportunities that businesses face. These standards are closely aligned with the standards from the International Sustainability Standards Board and will support both companies and investors working across jurisdictional boundaries. The Financial Conduct Authority has also consulted on potential updates to its rules for listed companies. The UK is also taking decisive action to ensure its financial services sector in supporting the global transition and is well placed to capture the opportunity of transition finance. The government has been working closely with the Transition Finance Council, which the Chancellor co-launched with the City of London Corporation in February 2025. It has also consulted on potential implementation options to take forward transition planning in a way that supports the market’s need for credible and decision-useful information, while encouraging action in line with the UK’s climate commitments and supporting economic growth. The government will publish its response in due course.
What estimate she has made of the potential impact of increasing the locality common bond membership cap on the number of credit union mergers.
The government is a strong supporter of the mutual sector, including credit unions, and is working to support its growth in line with the manifesto commitment to double the size of the co-operative and mutual sector. On 18 March, the government announced plans to reform the credit union common bond by: Increasing the potential membership cap on the locality bond from 3 million to 10 million, which will significantly expand the potential size of locality-based credit unions, which make up 79% of the sector, and reduce uncertainty around merger activity.Allowing credit unions to admit students to locality-based credit unions, if not otherwise eligible through residence or work.Expanding eligibility for members' relatives to allow credit unions to admit relatives of qualifying members regardless of whether they share a household.Allowing credit unions to retain retired members as fully qualifying members. The reforms will apply across Great Britain, including in Milton Keynes and Buckinghamshire. Full details of the government’s plans have been published in a call for evidence response available on GOV.UK. The government will legislate to give effect to these reforms as soon as parliamentary time allows. A full impact assessment will be published alongside the legislative reforms. The reforms to the credit union common bond form part of a broader package of measures to support improved access to financial products and services under the Financial Inclusion Strategy. The Strategy itself will be reviewed two years after publication to assess its overall progress.
What assessment her Department has made of the potential effect of proposed common bond reforms on levels of access to credit union services in (i) Milton Keynes and (ii) Buckinghamshire.
The government is a strong supporter of the mutual sector, including credit unions, and is working to support its growth in line with the manifesto commitment to double the size of the co-operative and mutual sector. On 18 March, the government announced plans to reform the credit union common bond by: Increasing the potential membership cap on the locality bond from 3 million to 10 million, which will significantly expand the potential size of locality-based credit unions, which make up 79% of the sector, and reduce uncertainty around merger activity.Allowing credit unions to admit students to locality-based credit unions, if not otherwise eligible through residence or work.Expanding eligibility for members' relatives to allow credit unions to admit relatives of qualifying members regardless of whether they share a household.Allowing credit unions to retain retired members as fully qualifying members. The reforms will apply across Great Britain, including in Milton Keynes and Buckinghamshire. Full details of the government’s plans have been published in a call for evidence response available on GOV.UK. The government will legislate to give effect to these reforms as soon as parliamentary time allows. A full impact assessment will be published alongside the legislative reforms. The reforms to the credit union common bond form part of a broader package of measures to support improved access to financial products and services under the Financial Inclusion Strategy. The Strategy itself will be reviewed two years after publication to assess its overall progress.