Written questions by Davies.

If her Department will make an assessment of the potential impact of the increase to Air Passenger Duty to the aviation industry.

Awaiting answer.

What steps her Department is taking to reduce the average wait time of business rate evaluations.

Awaiting answer.

What assessment her Department has made of the potential impact of timings for the completion of business rate re-evaluations on the hospitality sector.

Awaiting answer.

What assessment her Department has made of the potential impact of an increase of business rates on the competitiveness of British manufacturing.

Awaiting answer.

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

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.

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.

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.

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.

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.

With reference to the press release entitled Sizewell C gets green light with final investment decision, published on 22 July 2025, whether the National Wealth Fund is expected to return the additional capital provided to it by HM Treasury.

The National Wealth Fund (NWF) is the provider of the Government’s loan for Sizewell C. This enables the project to benefit from the NWF’s operationally independent infrastructure finance expertise. The NWF will repay the debt provided by HM Treasury following repayments made by Sizewell C to the NWF. The associated profit will be recycled to consumers, helping to keep the impact of Sizewell C on consumers’ bills low.

With reference to the press release entitled Chancellor pledges to unlock growth in Cornwall, published on 29 July 2025, what proportion of the jobs created by the reopening of the South Crofty Tin Mine will be directly employed by Cornish Metals; and on what evidential basis her Department calculated the indirect employment figures referenced in that press release.

Cornish Metals expect over 300 direct jobs to be created at South Crofty mine, with up to a further 1,000 indirect jobs being created to support the mining operation. The employment figures referenced in the HM Treasury press release were provided by Cornish Metals in their Preliminary Economic Assessment of the South Crofty project. This can be found on Cornish Metals’ website: https://cornishmetals.com/projects/uk/south-crofty/.

With reference to the press release entitled Chancellor pledges to unlock growth in Cornwall, published on 29 July 2025, whether the £28.6 million investment into Cornish Metals by the National Wealth Fund had previously been committed to by the UK Infrastructure Bank before 4 July 2024.

The commitment to invest £28.6 million into Cornish Metals was made by the National Wealth Fund and announced on 28th January 2025. The investment is separate to the £24 million equity investment into Cornish Lithium announced on 23rd August 2023 by the UKIB

With reference to the Government press release entitled Sizewell C gets green light with final investment decision, published on 22 July 2025, for what reason the Government's funding for Sizewell C will be made through the National Wealth Fund.

The National Wealth Fund is the provider of the Government’s loan for Sizewell C. This enables the project to benefit from the NWF’s operationally independent infrastructure finance expertise. Sizewell C is also a strong fit with the NWF’s mandate, as one of the UK’s top clean energy priorities, and will bring significant regional economic growth benefits.

With reference to the consultation on Reform of Landfill Tax, what estimate her Department has made of the total cost of proposed Landfill Tax changes on government-funded infrastructure projects in the next five years.

The government consulted on proposals for reform of landfill tax on 28 April following a call for evidence in 2021. The consultation closed on 28 July, and the government is currently considering responses. As part of the consultation on Reform of Landfill Tax, the Government has received a wide range of views from stakeholders, including representatives from the construction sector. Reducing the amount of waste material sent to landfill remains a key environmental objective, supporting the transition to a circular economy. The government recently published a 10-year infrastructure strategy that set out the government’s long-term plan for economic, housing and social infrastructure to drive growth. We will continue to work across government and engage with stakeholders, including the National Infrastructure and Service Transformation Authority, to assess the potential impacts on infrastructure projects. This approach will ensure that infrastructure delivery is supported while advancing circular economy objectives. The government will respond to the consultation in due course.

With reference to the consultation on Reform of Landfill Tax, what discussions her Department has had with the Environment Agency on the adequacy of its capacity to process an increase in recovery permit applications before the proposed 2027 Landfill Tax exemption removal.

The government consulted on proposals for reform of landfill tax on 28 April following a call for evidence in 2021. The consultation closed on 28 July, and the government is currently considering responses. HM Treasury is working with Defra and the Environment Agency on the proposals set out in the consultation. The government will respond to the consultation in due course.

With reference to the consultation on Reform of Landfill Tax, whether her Department has made an assessment of the potential impact of proposed changes to Landfill Tax on the Government’s capacity to meet the housing target of building 1.5 million homes by 2029.

The government consulted on proposals for reform of landfill tax on 28 April following a call for evidence in 2021. The consultation closed on 28 July, and the government is currently considering responses.The government is committed to delivering 1.5 million homes over 5 years as set out in the Plan for Change. The government is considering the potential impacts of proposed Landfill Tax reforms on housing delivery and government targets. We are working with the Department for Housing, Communities and Local Government to assess these impacts and support the delivery of 1.5 million homes.The government will respond to the consultation in due course.

With reference to the consultation on Reform of Landfill Tax, what assessment her Department has made of the potential impact of proposed changes to the Landfill Tax on the (a) cost and (b) viability of (i) the expansion of Heathrow airport and (ii) other major infrastructure projects.

The government consulted on proposals for reform of landfill tax on 28 April following a call for evidence in 2021. The consultation closed on 28 July, and the government is currently considering responses. As part of the consultation on Reform of Landfill Tax, the Government has received a wide range of views from stakeholders, including representatives from the construction sector. Reducing the amount of waste material sent to landfill remains a key environmental objective, supporting the transition to a circular economy. The government recently published a 10-year infrastructure strategy that set out the government’s long-term plan for economic, housing and social infrastructure to drive growth. We will continue to work across government and engage with stakeholders, including the National Infrastructure and Service Transformation Authority, to assess the potential impacts on infrastructure projects. This approach will ensure that infrastructure delivery is supported while advancing circular economy objectives. The government will respond to the consultation in due course.