Every parliamentary written question tabled by Gareth Davies this session, with the full answer and department. See how every department answers, or back to the MP page.
Showing 1–20 of 65 · Treasury
What assessment she has made of the impact of the level of gilt yields on forecast debt interest costs over the period 2026-27 to 2030-31.
Forecasts are produced independently by the Office for Budget Responsibility (OBR), which incorporates market expectations for gilt yields alongside other determinants of debt interest, including inflation and the stock and composition of government debt....
What recent assessment she has made of the potential impact of employer national insurance contribution increases on business recruitment.
In their October 2024 Economic and Fiscal Outlook, the Office for Budget Responsibility (OBR) estimated the impact that the increase in employer NICs would have on labour supply. In their latest forecast (taking into account all government policies expect...
What recent assessment she has made of the impact of inflation on household living costs.
Headline inflation decreased from 3.3% in March to 2.8% in April, driven mainly by lower household energy bills and a fall in services inflation. Food and non-alcoholic beverage inflation fell from 3.7% in March to 3.0% in April.The Government has already...
What assessment she has made of the potential implications for her policies of the statement by the Governor of the Bank of England's that recent experience of high inflation may make households and businesses more
Low and stable inflation is vital for growth and investment. The independent Monetary Policy Committee (MPC) at the Bank of England are responsible monetary policy, and the MPC has the government’s full support as it acts to return inflation to target sus...
What assessment she has made of the impact of the level of taxes on the disposable incomes of working households.
The Office for National Statistics publishes the “Effects of taxes and benefits on UK household income” report which sets out the level of taxes paid and benefits received by household type and income group. This includes direct and indirect taxes, as wel...
What assessment she has made of the implications for economic growth of tax reaching a forecast 38.5 per cent of GDP.
The government has made fair and necessary choices on tax so it can deliver on the public’s priorities. The UK’s current tax-to-GDP ratio remains in the middle of the pack within the G7. Whilst the government does not publish forecasts of economic growth,...
What assessment she has made of the potential implications for her policies of the rise in 30-year gilt yields to 5.772 per cent on 12 May 2026.
The government does not comment on specific financial market movements. Gilt yields are determined by a wide range of international and domestic factors.
What assessment she has made of the cumulative impact on business of tax measures announced in the Autumn Budgets of 2024 and 2025.
The Government has assessed the cumulative impacts of measures announced over recent Budgets on businesses and households. Taken together, these measures raise revenue to support the public finances in a fair way, whilst providing targeted support. The Go...
What assessment her Department has made of the potential impact of an increase of business rates on the competitiveness of British manufacturing.
The Valuation Office (VO) is responsible for maintaining accurate rating lists in England independently of central Government and updates ratepayers’ rateable value every three years at a revaluation. Revaluations maintain fairness in the system by redist...
What steps her Department is taking to reduce the average wait time of business rate evaluations.
The Valuation Office (VO) is responsible for maintaining accurate rating lists in England independently of central Government and updates ratepayers’ rateable value every three years at a revaluation. Revaluations maintain fairness in the system by redist...
What assessment her Department has made of the potential impact of timings for the completion of business rate re-evaluations on the hospitality sector.
The Valuation Office (VO) is responsible for maintaining accurate rating lists in England independently of central Government and updates ratepayers’ rateable value every three years at a revaluation. Revaluations maintain fairness in the system by redist...
If her Department will make an assessment of the potential impact of the increase to Air Passenger Duty to the aviation industry.
The government is committed to the long-term future of the aviation sector in the UK and recognises the benefits of the connectivity it creates between the UK and the rest of the world.Following previous changes to Air Passenger Duty (APD) rates to help c...
Whether she discussed the Transatlantic Taskforce for Markets of the Future during her meeting with the US Secretary of the Treasury on 12 January 2026.
The Transatlantic Taskforce for Markets of the Future was established by HM Treasury and the US Treasury on 22 September. Its purpose is to bring the world’s leading financial centres together to develop concrete policy options and recommendations on further financial market innovation, with a particular focus on digital assets and capital markets. Innovation in these industries will be central to the government’s mission for economic growth. The Chancellor has discussed progress on the Taskforce with US Treasury Secretary Bessent and HMT officials continue to work closely with US counterparts. Both parties are keen to ensure the Taskforce is a success. Further details can be found here: Boosting collaboration between UK and US financial systems to drive innovation and growth in global markets - GOV.UK
What objectives her Department have set the Transatlantic Taskforce for Markets of the Future; and what assessment she has made of the Taskforce’s progress to date.
The Transatlantic Taskforce for Markets of the Future was established by HM Treasury and the US Treasury on 22 September. Its purpose is to bring the world’s leading financial centres together to develop concrete policy options and recommendations on further financial market innovation, with a particular focus on digital assets and capital markets. Innovation in these industries will be central to the government’s mission for economic growth. The Chancellor has discussed progress on the Taskforce with US Treasury Secretary Bessent and HMT officials continue to work closely with US counterparts. Both parties are keen to ensure the Taskforce is a success. Further details can be found here: Boosting collaboration between UK and US financial systems to drive innovation and growth in global markets - GOV.UK
When the Transatlantic Taskforce for Markets of the Future plans to report back to HMT; and when their report will be shared with Parliament.
The Transatlantic Taskforce for Markets of the Future was established by HM Treasury and the US Treasury on 22 September. Its purpose is to bring the world’s leading financial centres together to develop concrete policy options and recommendations on further financial market innovation, with a particular focus on digital assets and capital markets. Innovation in these industries will be central to the government’s mission for economic growth. The Chancellor has discussed progress on the Taskforce with US Treasury Secretary Bessent and HMT officials continue to work closely with US counterparts. Both parties are keen to ensure the Taskforce is a success. Further details can be found here: Boosting collaboration between UK and US financial systems to drive innovation and growth in global markets - GOV.UK
On what date the National Wealth Fund Board was informed of the Government’s intention to allocate £200 million to Grangemouth community; and whether the Board formally approved any such commitment in accordance with its statutory governance and investment processes.
The Government made a major intervention to ensure the long-term future of the Grangemouth site. As part of that, £200 million has been made available from the National Wealth Fund’s existing capitalisation for investible projects at Grangemouth. The National Wealth Fund will be responsible for approval of specific investments, in line with its regular governance and investment processes, including Board approval where appropriate.
How the £14.5 million for Grangemouth announced at the Budget relates to the previous commitment from the Prime Minister that £200 million from the National Wealth Fund would support the transition of the Grangemouth site; and whether the £14.5 million announced at the Budget is additional to the previous £200 million commitment.
The £14.5 million of investment to support industrial projects in Grangemouth announced at Autumn Budget 2025 is in addition to the National Wealth Fund commitment.
When was she first informed by the Office for Budget Responsibility that they planned to review the Government's productivity forecasts.
The OBR regularly reviews its forecast assumptions. As set out in its latest annual Forecast Evaluation Report, published in July 2025, the OBR noted that they are "currently conducting our regular summer supply stocktake, which involves research into our potential output forecast and its components." As the Government’s independent official forecaster, the OBR has full discretion over the judgements underpinning its forecasts.
Whether was she informed by the Office for Budget Responsibility in advance of the (a) Autumn Budget 2024 and (b) Spring Statement 2025 that it was likely to conduct a review of productivity forecasts at a forthcoming fiscal event.
The OBR regularly reviews its forecast assumptions. As set out in its latest annual Forecast Evaluation Report, published in July 2025, the OBR noted that they are "currently conducting our regular summer supply stocktake, which involves research into our potential output forecast and its components." As the Government’s independent official forecaster, the OBR has full discretion over the judgements underpinning its forecasts.
When she was first informed by officials in her Department that the Office for Budget Responsibility was likely to conduct a review of their productivity forecasts.
The OBR regularly reviews its forecast assumptions. As set out in its latest annual Forecast Evaluation Report, published in July 2025, the OBR noted that they are "currently conducting our regular summer supply stocktake, which involves research into our potential output forecast and its components." As the Government’s independent official forecaster, the OBR has full discretion over the judgements underpinning its forecasts.