Written questions by Stafford.

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.

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.

Whether her Department has made an assessment of the potential impact of the Bank of England’s proposed retail holding caps on stablecoins on (a) consumer financial freedoms, (b) the competitiveness of UK fintech and (c) the risk of driving digital asset innovation offshore.

The Government recognises that facilitating stablecoin innovation is important for UK competitiveness, and continues to engage with the regulators, including the Bank of England, to ensure a coherent regulatory framework that works for businesses and consumers. The Government will bring forward legislation later this year to create a financial services regulatory regime for cryptoassets in the UK, including stablecoins.

If she will make an assessment of the potential implications for her policies of the British Retail Consortium press notice entitled 400 of Britain’s largest shops at risk, published on 12 September 2025.

From April 2026, the Government intends to introduce permanently lower tax rates for retail, hospitality and leisure (RHL) properties with rateable values below £500,000. This permanent tax cut will ensure that eligible RHL properties benefit from much-needed certainty and support. This tax cut must be sustainably funded, and so the Government is introducing a higher rate on the most valuable properties in 2026/27 - those with RVs of £500,000 and above. The Government recognises that, ahead of the new multipliers being introduced, RHL businesses need support in 2025-26. So, the Government has prevented RHL relief from ending by extending it for one year at 40 per centup to a cash cap of £110,000 per business and frozen the small business multiplier. The final design, including the rates, for the new business rates multipliers will be announced at Budget 2025, so that the revaluation outcomes and broader economic and fiscal context can be factored into decision-making. When the new multipliers are set, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements.

What assessment she has made of the adequacy of (a) the Energy Profits Levy and (b) other carbon-related taxes in preventing climate related damage.

The Energy Profits Levy (EPL) was introduced as a temporary additional surcharge on profits generated from oil and gas exploration and production activities in the UK, in response to extraordinary global circumstances. The EPL has already raised over £11bn since its introduction to date. From 1 November 2024 the government introduced changes to the EPL, including increasing the rate by 3 percentage points to 38% and extending it to 31 March 2030. We also removed the EPL’s core investment allowance, which was unique to oil and gas and not available to any other sector, and retained the decarbonisation allowance in the EPL regime to support the sector to decarbonise. The Government sees the tax system as one important lever to further environmental and climate objectives by encouraging behaviour change and supporting greater investment in cleaner technologies. The government ensures the tax system supports climate goals through measures such as the Carbon Price Support and Climate Change Levy.

Whether she has had discussions with Cabinet colleagues on managing seized cryptocurrency assets as long-term strategic holdings rather than liquidating them.

As per responses from my predecessor, the Proceeds of Crime Act provides a clear process for the management and realisation of seized assets, while the UK's official reserves are governed by established investment principles. There are currently no plans to amend either framework or to commission a review into the potential role of Bitcoin and other digital assets as reserve assets or in a wider financial strategy.

If she will commission a review into the role of (a) Bitcoin and (b) other digital assets (i) as a reserve asset and (ii) in other future financial strategy.

As per responses from my predecessor, the Proceeds of Crime Act provides a clear process for the management and realisation of seized assets, while the UK's official reserves are governed by established investment principles. There are currently no plans to amend either framework or to commission a review into the potential role of Bitcoin and other digital assets as reserve assets or in a wider financial strategy.

What discussions she has had with LINK on widening the criteria for establishing additional banking hubs.

While the Government engages with LINK on a range of issues, decisions regarding changes to LINK’s independent assessment criteria are a matter for LINK and the financial services sector. The Government understands the importance of face-to-face banking to communities and high streets across the UK, and is committed to championing sufficient access for all as a priority. This is why the Government is working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this Parliament. Over 230 hubs have been announced so far, and over 180 are already open.

What assessment she has made of the potential impact of bank branch closures on older people’s access to cash.

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. The Financial Conduct Authority (FCA) assumed regulatory responsibility for access to cash in September 2024. Its rules ensure cash continues to be a viable method of payment for the millions of people who depend on it and requires the reasonable provision of free cash withdrawal and deposit facilities for personal current accounts. The Government is also working closely with industry to roll out 350 banking hubs across the UK. The UK banking sector has committed to deliver these hubs by the end of this parliament. These hubs will provide small businesses and individuals with critical access to cash. Over 180 Banking Hubs are already open across the UK. The Post Office Banking Framework allows personal and business customers to withdraw and deposit cash, check their balance, pay bills and cash cheques at 11,500 Post Office branches across the UK. While branch closures are commercial decisions for banks, the Financial Conduct Authority (FCA) guidance expects firms to carefully consider the impact of planned branch closures on their customers’ everyday banking and cash access needs and put in place alternatives where reasonable. This seeks to ensure that branch closures are implemented in a way that treats customers fairly. Where a resident, community organisation or other interested party feels access to cash in their community is insufficient, they can submit a request for a cash access assessment to LINK, the industry appointed coordinating body responsible for carrying out assessments. Further information about submitting a cash access request can be found on LINK’s website.

Whether her Department has conducted a risk or opportunity assessment of the potential strategic use of seized Bitcoin assets as part of the UK's financial reserves.

Under the Proceeds of Crime Act, which sets out necessary steps for the management and realisation of assets, the seizure, recovery and management of Bitcoin assets is subject to consideration of independent law enforcement and the courts. There are no currently plans to amend the Act to divert seized coins to a centrally held fund or reserve.

What assessment she has made of the potential merits of amending the rules for the childcare vouchers scheme to allow participants to receive refunds, subject to the appropriate tax and National Insurance contributions, in instances where (a) exceptional and (b) unforeseen changes in circumstances have resulted in unused balances that can no longer be spent on eligible childcare, in the context of the covid-19 pandemic.

We appreciate the temporary closure of childcare settings during the COVID-19 pandemic may have left parents unable to use some existing Government childcare offers, including Childcare Vouchers. Parents can seek to get a refund from their employer for their unused Childcare Vouchers. Whether particular employers offer refunds will depend on the contract between the Voucher provider, employee and employer, and is not within HMRC's control. Where a refund is not available the funds will remain in the nominated childcare account. As the Childcare Vouchers offer is now closed to new entrants and has been replaced by Tax-Free Childcare, the Government has no plans for reform.

What assessment she has made of the potential long-term fiscal merits of retaining the Bitcoins held by UK authorities in connection with investment fraud.

Under the Proceeds of Crime Act 2002 (POCA), which sets out the necessary steps for the management and realisation of assets, the seizure, recovery and management of Bitcoin assets is subject to consideration of independent law enforcement and the courts.There are no current plans to amend the Act to divert seized coins to a centrally-held fund or reserve.I am unable to comment on any ongoing civil recovery investigations.

For what reason the UK classifies mastectomy bras under Chapter 6212 of the Harmonised System Nomenclature; and whether she has made an assessment of the potential implications for her policies of the classification approach of the EU.

The UK’s tariff schedule, known as the UK Global Tariff (UKGT), adheres to global classification standards. The UK classification of mastectomy bras follows the harmonised commodity description system, which was developed by the World Customs Organisation (WCO). Following EU exit, the UK continues to follow the WCO classification, implemented under the TCTA.We continue to monitor the UKGT to ensure our Most Favoured Nation tariff schedule functions as effectively as possible, supports domestic priorities, and provides a stable operating environment for businesses.Businesses are able to request the partial or full liberalisation of the import duty applied to the products under this commodity code, including mastectomy bras either through the online feedback form or the next business suspensions window.

Whether she plans to consult representatives from the beer and pub sector ahead of the Autumn Budget 2025.

The Government is committed to supporting small and local businesses in the hospitality, tourism, and services sectors, which provide a significant contribution to the UK economy and society.We have launched a licensing taskforce to make recommendations to cut red tape and remove barriers to business growth that exist within the UK’s licensing framework. The industry-led Taskforce has shared its findings with the Government, and we aim to update publicly by the summer. We have prevented retail, hospitality, and leisure (RHL) business rates relief from ending in April 2025 by extending it for one year at 40 per cent up to a cash cap of £110,000 per business and frozen the small business multiplier. From April 2026, we intend to introduce permanently lower business rates multipliers for RHL properties with rateable values below £500,000. The Treasury has, and will continue to, meet with the RHL sector to discuss these reforms. At Autumn Budget 2024, the Chancellor announced a duty cut on qualifying draught products – approximately 60% of the alcoholic drinks sold in pubs. This represents an overall reduction in duty bills of over £85m a year and increased the relief available on draught products to 13.9%. We have protected small businesses from the impact of the increase to employer National Insurance by increasing the Employment Allowance from £5,000 to £10,500. This means that 865,000 employers will pay no employer NICs at all this year, and more than half of employers will see no change or will gain overall from this package. Furthermore, the Department of Business and Trade will soon be publishing its Small Business Strategy, which will announce further measures to support small businesses in the hospitality sector and to revitalise high streets. Through The Hospitality Support Scheme, the Government is working with Pub is the Hub and providing funds to help community pubs adapt to changing local needs, ensuring these vital social hubs continue delivering for their communities. Additionally, we have funded a wide range of community assets, including pubs, through the Community Ownership Fund. On 23 December 2024, this Government announced the outcome of Round 4 of the Community Ownership Fund, the largest ever round to date.

Whether she plans to reduce beer duty.

Pubs and brewers make a significant contribution to our economy and society, including through supporting jobs, and this is recognised in the tax system. According to the Office for National Statistics' 2023 Business Register and Employment Survey, there were 21,000 people employed in the manufacture of beer and 474,000 people employed in public houses and bars across Great Britain. The alcohol duty system supports pubs and hospitality businesses through Draught Relief, which ensures eligible products served on draught pay less duty. At Autumn Budget 2024, the Chancellor announced a duty cut on qualifying draught products – approximately 60% of the alcoholic drinks sold in pubs. This is the equivalent to a 1p reduction on a typical pint. The Chancellor has also confirmed her intention to permanently lower business rates for retail, hospitality, and leisure (RHL) properties, including pubs, with rateable values below £500,000 from April 2026. This will help protect the jobs supported by the pub sector. 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 World Health Organization and other public health bodies are clear that duty rates have a role to play in achieving public health objectives. 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. The Chancellor makes decisions on tax policy at fiscal events. The Government welcomes representations from the beer and pub sectors in advance of the Budget.

Whether she plans to consult representatives from the (a) beer and (b) pub sectors ahead of the next Budget.

Pubs and brewers make a significant contribution to our economy and society, including through supporting jobs, and this is recognised in the tax system. According to the Office for National Statistics' 2023 Business Register and Employment Survey, there were 21,000 people employed in the manufacture of beer and 474,000 people employed in public houses and bars across Great Britain. The alcohol duty system supports pubs and hospitality businesses through Draught Relief, which ensures eligible products served on draught pay less duty. At Autumn Budget 2024, the Chancellor announced a duty cut on qualifying draught products – approximately 60% of the alcoholic drinks sold in pubs. This is the equivalent to a 1p reduction on a typical pint. The Chancellor has also confirmed her intention to permanently lower business rates for retail, hospitality, and leisure (RHL) properties, including pubs, with rateable values below £500,000 from April 2026. This will help protect the jobs supported by the pub sector. 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 World Health Organization and other public health bodies are clear that duty rates have a role to play in achieving public health objectives. 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. The Chancellor makes decisions on tax policy at fiscal events. The Government welcomes representations from the beer and pub sectors in advance of the Budget.

What comparative assessment she has made of beer duty in (a) the UK and (b) other European countries.

Pubs and brewers make a significant contribution to our economy and society, including through supporting jobs, and this is recognised in the tax system. According to the Office for National Statistics' 2023 Business Register and Employment Survey, there were 21,000 people employed in the manufacture of beer and 474,000 people employed in public houses and bars across Great Britain. The alcohol duty system supports pubs and hospitality businesses through Draught Relief, which ensures eligible products served on draught pay less duty. At Autumn Budget 2024, the Chancellor announced a duty cut on qualifying draught products – approximately 60% of the alcoholic drinks sold in pubs. This is the equivalent to a 1p reduction on a typical pint. The Chancellor has also confirmed her intention to permanently lower business rates for retail, hospitality, and leisure (RHL) properties, including pubs, with rateable values below £500,000 from April 2026. This will help protect the jobs supported by the pub sector. 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 World Health Organization and other public health bodies are clear that duty rates have a role to play in achieving public health objectives. 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. The Chancellor makes decisions on tax policy at fiscal events. The Government welcomes representations from the beer and pub sectors in advance of the Budget.

What recent assessment she has made of the cumulative impact of changes to (a) business rates and (b) employer National Insurance contributions on the financial viability of (i) pubs and (ii) breweries.

From 2026-27, we intend to introduce permanently lower tax rates for retail, hospitality, and leisure (RHL) properties with rateable values below £500,000. This permanent tax cut will ensure that eligible RHL businesses benefit from much-needed certainty and support. Eligibility for the new RHL multipliers is intended to broadly reflect the scope of the existing RHL relief scheme, and will be set out in legislation later this year. Until these new tax rates are introduced, in 2025-26, RHL businesses will receive a 40 per cent relief on their eligible properties up to a cash cap of £110,000 per business. Under the previous Government, RHL relief was due to end entirely in April 2025. By extending the relief, the Government has saved the average pub, with a ratable value of £16,800, over £3,300. Tax policy and legislation is not subject to the Better Regulation Framework Guidance, which requires an Impact Assessment to accompany policy decisions. Nevertheless, when the new multipliers are set at Budget 2025, HM Treasury intends to publish analysis of the effects of the new multiplier arrangements. Regarding National Insurance contributions, a Tax Information and Impact Note (TIIN) was published alongside the introduction of the Bill containing the changes to employer NICs. The TIIN sets out the impact of the policy on the Exchequer, the economic impacts of the policy, and the impacts on individuals, businesses, and civil society organisations, as well as an overview of the equality impacts.

Whether her Department has made an assessment of the potential merits of pubs in (a) supporting community wellbeing and (b) tackling social isolation.

The Government is committed to supporting small and local businesses in the hospitality, tourism, and services sectors, which provide a significant contribution to the UK economy and society.We have launched a licensing taskforce to make recommendations to cut red tape and remove barriers to business growth that exist within the UK’s licensing framework. The industry-led Taskforce has shared its findings with the Government, and we aim to update publicly by the summer. We have prevented retail, hospitality, and leisure (RHL) business rates relief from ending in April 2025 by extending it for one year at 40 per cent up to a cash cap of £110,000 per business and frozen the small business multiplier. From April 2026, we intend to introduce permanently lower business rates multipliers for RHL properties with rateable values below £500,000. The Treasury has, and will continue to, meet with the RHL sector to discuss these reforms. At Autumn Budget 2024, the Chancellor announced a duty cut on qualifying draught products – approximately 60% of the alcoholic drinks sold in pubs. This represents an overall reduction in duty bills of over £85m a year and increased the relief available on draught products to 13.9%. We have protected small businesses from the impact of the increase to employer National Insurance by increasing the Employment Allowance from £5,000 to £10,500. This means that 865,000 employers will pay no employer NICs at all this year, and more than half of employers will see no change or will gain overall from this package. Furthermore, the Department of Business and Trade will soon be publishing its Small Business Strategy, which will announce further measures to support small businesses in the hospitality sector and to revitalise high streets. Through The Hospitality Support Scheme, the Government is working with Pub is the Hub and providing funds to help community pubs adapt to changing local needs, ensuring these vital social hubs continue delivering for their communities. Additionally, we have funded a wide range of community assets, including pubs, through the Community Ownership Fund. On 23 December 2024, this Government announced the outcome of Round 4 of the Community Ownership Fund, the largest ever round to date.

What estimate her Department has made of the number of jobs supported by the beer and pub sector.

Pubs and brewers make a significant contribution to our economy and society, including through supporting jobs, and this is recognised in the tax system. According to the Office for National Statistics' 2023 Business Register and Employment Survey, there were 21,000 people employed in the manufacture of beer and 474,000 people employed in public houses and bars across Great Britain. The alcohol duty system supports pubs and hospitality businesses through Draught Relief, which ensures eligible products served on draught pay less duty. At Autumn Budget 2024, the Chancellor announced a duty cut on qualifying draught products – approximately 60% of the alcoholic drinks sold in pubs. This is the equivalent to a 1p reduction on a typical pint. The Chancellor has also confirmed her intention to permanently lower business rates for retail, hospitality, and leisure (RHL) properties, including pubs, with rateable values below £500,000 from April 2026. This will help protect the jobs supported by the pub sector. 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 World Health Organization and other public health bodies are clear that duty rates have a role to play in achieving public health objectives. 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. The Chancellor makes decisions on tax policy at fiscal events. The Government welcomes representations from the beer and pub sectors in advance of the Budget.

Whether she plans to hold discussions with representatives of the brewing and pub sector on how to (a) create growth and (b) reduce barriers to investment, before the Autumn Budget 2025.

The Government is committed to supporting small and local businesses in the hospitality, tourism, and services sectors, which provide a significant contribution to the UK economy and society.We have launched a licensing taskforce to make recommendations to cut red tape and remove barriers to business growth that exist within the UK’s licensing framework. The industry-led Taskforce has shared its findings with the Government, and we aim to update publicly by the summer. We have prevented retail, hospitality, and leisure (RHL) business rates relief from ending in April 2025 by extending it for one year at 40 per cent up to a cash cap of £110,000 per business and frozen the small business multiplier. From April 2026, we intend to introduce permanently lower business rates multipliers for RHL properties with rateable values below £500,000. The Treasury has, and will continue to, meet with the RHL sector to discuss these reforms. At Autumn Budget 2024, the Chancellor announced a duty cut on qualifying draught products – approximately 60% of the alcoholic drinks sold in pubs. This represents an overall reduction in duty bills of over £85m a year and increased the relief available on draught products to 13.9%. We have protected small businesses from the impact of the increase to employer National Insurance by increasing the Employment Allowance from £5,000 to £10,500. This means that 865,000 employers will pay no employer NICs at all this year, and more than half of employers will see no change or will gain overall from this package. Furthermore, the Department of Business and Trade will soon be publishing its Small Business Strategy, which will announce further measures to support small businesses in the hospitality sector and to revitalise high streets. Through The Hospitality Support Scheme, the Government is working with Pub is the Hub and providing funds to help community pubs adapt to changing local needs, ensuring these vital social hubs continue delivering for their communities. Additionally, we have funded a wide range of community assets, including pubs, through the Community Ownership Fund. On 23 December 2024, this Government announced the outcome of Round 4 of the Community Ownership Fund, the largest ever round to date.