Written questions by Miller.

What assessment her Department has made of the implications for its policies of the notice issued on 2 March 2026 by the US Treasury's Financial Crimes Enforcement Network proposing that MBaer Merchant Bank be designated as an institution of primary money laundering concern.

The Government is committed to protecting the UK’s financial system and maintaining a robust anti-money laundering and counter-terrorist financing system. This involves identifying risks to the system, monitoring global developments, and working with international partners. The Government does not comment on assessments relating to specific firms. Where appropriate, the Government will act in response to individual cases and risks identified.

What assessment her Department has made of the implications for its policies of evidence from the US Treasury's Financial Crimes Enforcement Network published on 2 March 2026 that UK resident individuals may have laundered the proceeds of corrupt oil sales in Venezuela through MBaer Merchant Bank.

The Government is committed to protecting the UK’s financial system and maintaining a robust anti-money laundering and counter-terrorist financing system. This involves identifying risks to the system, monitoring global developments, and working with international partners. The Government does not comment on assessments relating to specific firms. Where appropriate, the Government will act in response to individual cases and risks identified.

Pursuant to the Answer of 16 February 2026 to Question 112094, to state the date by which the Government will initiate court proceedings if Roman Abramovich does not transfer the outstanding funds by 17 March.

The Government is determined to see the proceeds from the sale of Chelsea Football Club transferred to support the people of Ukraine, as Mr. Abramovich committed to at the time of the sale in 2022. Should Mr. Abramovich fail to transfer the proceeds in accordance with the terms of the licence issued by the UK government on 17 December 2025 we are fully prepared to go to court if necessary to enforce these previous commitments and ensure the proceeds are transferred into a new foundation for humanitarian purposes in Ukraine as soon as possible. It would not be appropriate to comment further on matters relating to potential litigation. The Government does not provide information that could prejudice potential legal proceedings or reveal legally privileged material.

What estimate her Department has made of the value of frozen Iranian assets held in the UK.

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury published in its 2024-2025 Annual Review that £19.3 million in assets across multiple sanctions regimes have been reported as frozen as of September 2024. This is an aggregated total of all entities and individuals listed on the Consolidated List of Financial Sanctions Targets under non specified regimes including the Iran and Iran (Nuclear) regimes.

Whether the Office of Financial Sanctions Implementation has investigated (a) Photovolt Development Partners and (b) Cranssetta Investments Ltd regarding sanctions against the (i) Russian Federation and (ii) named Russian individuals.

OFSI does not generally comment on specific cases or confirm if particular companies are or have been subject to investigation beyond the publishing of public enforcement actions such as a monetary penalty. OFSI is committed to ensuring that sanctions are robustly enforced and potential breaches are investigated and appropriate action taken. If somebody has evidence or information of activity that contravenes UK financial sanctions, this should be reported to OFSI immediately using the reporting form available on GOV.UK.

Whether she has had discussions with the Secretary of State for Health and Social Care on the potential impact of Valuation Office Agency practices on the ability of Integrated Care Boards to release (a) capital and (b) revenue funding for new GP premises.

The Valuation Office Agency’s District Valuer Services (DVS) provide property advice to NHS bodies in England, including Current Market Rent (CMR) assessments for GP practice premises, under the NHS (General Medical Services - Premises Costs) Directions.DVS is instructed in accordance with the Directions, to assess the financial value for money aspect of proposed new lease terms including rent for both existing premises and for third-party development schemes.DVS then provide advice to the Integrated Care Board (ICB) to assist the ICB with their decision on the assessment of Value for Money in supporting a proposal.Decisions on capital and/or revenue funding lie with the ICB.

Whether her Department plans to issue updated guidance to the Valuation Office Agency to ensure that valuation methodologies for primary care premises reflect local market conditions in regions with high property costs.

The Valuation Office Agency’s District Valuer Services (DVS) provide property advice to NHS bodies in England, including Current Market Rent (CMR) assessments for GP practice premises, under the NHS (General Medical Services - Premises Costs) Directions 2024.DVS is instructed in accordance with the Directions to provide assessments of Current Market Rent. These are provided reflecting all value significant attributes of the premises including the premises location.

What assessment she has made of the potential impact of the Valuation Office Agency’s reliance on national or broad regional comparables without regional weighting on valuations for primary care infrastructure in (a) Oxfordshire and (b) other high cost areas.

The Valuation Office Agency’s District Valuer Services (DVS) provide property advice to NHS bodies in England, including Current Market Rent (CMR) assessments for GP practice premises, under the NHS (General Medical Services - Premises Costs) Directions.DVS is instructed in accordance with the Directions, to assess the financial value for money aspect of proposed new lease terms including rent for both existing premises and for third-party development schemes.DVS then provide advice to the Integrated Care Board (ICB) to assist the ICB with their decision on the assessment of Value for Money in supporting a proposal.In arriving at opinions of CMR, DVS valuers utilise the comparable valuation approach, identifying the best available evidence which is subject to analysis, adjustment and weighting in order to apply to the subject property. This is in line with the RICS professional standard Comparable evidence in real estate valuation, 1st edition.Location is an important factor in the valuation process and the relative value of individual locations, including high value areas, is fully considered and assessed by the valuer in arriving at an opinion of CMR.

What assessment she has made of the level of (a) physical and (b) social infrastructure needed for the Oxford-Cambridge Growth Corridor to achieve its aims.

The Oxford-Cambridge region is home to world leading universities and globally renowned science and technology firms. But the region's true potential is being held back by constraints, including unaffordable housing and transport constraints. The Government is taking action to drive sustainable growth across this key region which, according to experts, could boost the UK economy by £78 billion by 2035. The Government believes additional action can maximise the economic performance of the wider Oxford-Cambridge region. This is why Lord Vallance has been appointed as Oxford-Cambridge Growth Champion, to identify, coordinate and promote further interventions linked to the EWR route and drive growth across the region. The Government is already investing in East West Rail (EWR), which will deliver much needed transport connections between Oxford and Cambridge, and other communities along the route. In the Autumn Budget, the Chancellor also committed £10m of funding to enable the Cambridge Growth Company to develop an ambitious plan for the housing, transport, water, and wider infrastructure Cambridge needs to realise its full potential. In her speech of 29 January, the Chancellor confirmed that a new Cambridge Cancer Research Hospital is being prioritised for investment as part of wave 1 of the New Hospital Programme. In the wider corridor, we will target investment in R&D clusters, including the AI Growth Zone in Culham. The Government will deliver Phase 2 of the Spending Review and the 10 Year Infrastructure Strategy later this year, to support delivery of the Government’s plans for a decade of national renewal. Any further Government support for infrastructure in the region will be assessed and agreed through the formal Spending Review process.

With reference to her speech entitled Chancellor vows to go further and faster to kickstart economic growth on 29 January 2025, which Minister is responsible for the Oxford-Cambridge Growth Corridor.

The Chancellor of the Exchequer has announced Lord Patrick Vallance as a Ministerial champion for the Oxford-Cambridge Growth Corridor. Lord Vallance brings extensive experience across life sciences, business, academia and government. Whilst responsibility for specific levers will remain within respective departments, Lord Vallance will work closely with local experts and across government to unblock and identify growth-focused interventions across the Oxford-Cambridge Growth Corridor, so world-class talent can live and work in a local area that is closely connected to world-class companies delivering innovative growth.

Whether she has had discussions with Cabinet colleagues on the property price limit on Help to Buy ISAs.

This Government is committed to helping first time buyers own their own home, and will do this by building 1.5 million more homes.The Government keeps savings policy under review, any changes of this kind would be made at a relevant fiscal event.

What estimate she has made of the amount of Russian assets held by sanctioned individuals in the UK; and how much and what proportion of those assets have been recovered.

The Office of Financial Sanctions Implementation (OFSI), part of HM Treasury, announced in December that £22.7 billion in Russian Assets has been reported as frozen as of October 2023. This figure is provided in aggregate so as not to disclose the value of any funds held by particular designated persons and is a cumulative total of assets reported.An asset freeze does not involve a change in ownership of the frozen funds or economic resources, nor are they transferred to HM Treasury. Any interest accrued on these assets is subject to the asset freeze, to be frozen immediately by the person in possession or control of them.