Written questions by McMurdock.

Pursuant to her Department’s press release entitled Government to Improve Support for Affordable Debt Repayments, published on 20 March 2026, what types of data will be shared between departments to assess individuals’ ability to repay debts under the new strategy.

Some government organisations share information to support debt management, including to help assess an individual’s ability to pay. Where data is shared, it may include information relating to income, employment and benefits, depending on the purpose, the lawful gateway and the specific debt and department involved. This data can be used as a way to distinguish between financial hardship and deliberate non-payment. Departments and ALBs will apply their own policies and statutory frameworks when determining the most appropriate approach to debt recovery, but government guidance on support for those in financial difficulty is available at Public Sector Toolkits - GOV.UK. Any sharing and use of personal data for debt management purposes is carried out in accordance with the UK General Data Protection Regulation and the Data Protection Act 2018. Where data sharing takes place under the Digital Economy Act 2017, it is subject to the Act’s statutory framework and the Digital Economy Act Code of Practice, including requirements and principles on lawful purpose, necessity and proportionality, security and accountability. Performance against the strategy will be monitored by the GDMF in line with the Cabinet Office functional standards and governance requirements. Where monitoring indicates that intended improvements are not being achieved, the GDMF will use established functional governance to work with departments and ALBs to understand the issues and support improvements, including through guidance, sharing good practice and engagement with relevant organisations.

Pursuant to her Department’s press release entitled Government to Improve Support for Affordable Debt Repayments, published on 20 March 2026, what estimate she has made of the proportion of people in government debt repayment plans who are currently making payments deemed unaffordable.

The press release entitled ‘Government to Improve Support for Affordable Debt Repayments’, published on 20 March 2026, publicised the Government Debt Management Strategy 2026–2030. The strategy sets out the Government Debt Management Function’s (GDMF) vision and principles for good debt management across central government. It does not introduce a single new, cross-government “affordable repayment plan” policy with uniform terms; repayment arrangements continue to be set by individual departments and arm’s-length bodies (ALBs) in line with their specific legislation, policies and the circumstances of the individual. This includes consideration of interest rates, repayment incentives / disincentives, repayment period length, specific performance metrics and associated costs. Affordability is assessed with an income and expenditure statement, discussion and regular reviews. All repayment plans should be affordable, so requested data on the proportion of repayment plans that are affordable, as well as metrics to assess this in the future, does not exist. The ability for an individual to challenge or seek a review of an affordability assessment depends on the type of debt, the individual’s circumstances and the department or ALB to which the debt is owed. Individuals can contact the relevant organisation to discuss their circumstances and any review or appeal routes available for that debt type. Information about the government’s plan to identify individuals at risk of falling into debt at an earlier stage and how the government has taken consideration of differences in repayment practices is available at Prevent Resolve Improve 26-30 Government Debt Management Strategy - GOV.UK.

What assessment she has made of the fairness of Vehicle Excise Duty for motorcycles compared with cars.

Vehicle Excise Duty (VED), sometimes known as 'road tax' or 'car tax', is a tax on vehicles used or kept on public roads. Different rates apply to cars, vans, and motorcycles, and the rate for each vehicle is calculated according to a range of factors, such as its date of first registration, weight, or CO2 emissions. VED for motorcycles is currently based on engine size. There are four engine size ranges, with the lowest rate applying to zero emission motorcycles and the smallest engines sized 150cc or less (currently £27). The highest rate applies to engines sized 600cc and above (currently £125). The Government annually reviews the rates and thresholds of taxes and reliefs to ensure that they are appropriate and reflect the current state of the economy. The Chancellor makes decisions on tax policy at fiscal events in the context of the public finances.

With reference to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, how compliance by lenders with the agreed measures will be monitored.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

Pursuant to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, what eligibility criteria will apply to borrowers seeking support under the enhanced measures.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

With reference to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, what enforcement mechanisms will be available if lenders fail to deliver the agreed support.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

With reference to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, whether she plans to publish data on the uptake and effectiveness of the mortgage support measures.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

Pursuant to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, what specific commitments were agreed by lenders during the meeting referenced in the announcement.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

Pursuant to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, what role the Financial Conduct Authority will play in overseeing the implementation of the measures.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

Whether she has held discussions with representatives of the road haulage sector on the introduction of an Essential User Rebate.

The Government is taking action to ensure that fuel at the pump remains affordable. At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027. The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry. The Government regularly engages with industry representatives, and as with all taxes, keeps fuel duty under review.

Pursuant to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, whether the commitments made by lenders are voluntary or legally binding.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

Pursuant to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, what assessment she has made of the potential proportional reduction in monthly payments for borrowers accessing support as a result of the commitments referenced in the press release.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

With reference to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, whether any of the lenders present at the meeting referenced in the press release disagreed with the proposed measures.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

Pursuant to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, what timetable has been set for the implementation of enhanced mortgage support measures.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

With reference to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, whether further intervention is required to support mortgage holders facing financial difficulty.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

Pursuant to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, which mortgage lenders attended the meeting referenced in the press release.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

Pursuant to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, how many mortgage holders she estimates will benefit from the measures agreed with lenders.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

With reference to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, whether she plans to publish the full details of the agreements reached with mortgage lenders.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

With reference to her Department’s press release entitled Chancellor gets banks to step up mortgage support for customers, published on 26 March 2026, what assessment she has made of the risk that lenders will tighten lending criteria in response to the measures to allow consumers to move to interest only payments for six months.

On 26 March 2026, the Chancellor met with the six largest mortgage lenders (Lloyds Banking Group, NatWest Group, Barclays UK, HSBC UK, Santander UK, and Nationwide Building Society), alongside UK Finance, to discuss the outlook for mortgage rates in light of the conflict in Iran, how lenders are responding, and what practical support is available to concerned borrowers. At this meeting, these lenders committed to proactively contact 1.6 million customers whose fixed-rate deals end between now and the end of the year, setting out options well before payments change. Lenders across the industry also reaffirmed their commitment to the Mortgage Charter. The Mortgage Charter is a voluntary agreement that covers 90% of the sector, and provides flexibilities to help borrowers manage their repayments over a short period. This includes it permitting borrowers to switch to an interest only mortgage, or extend their mortgage term, for up to 6 months, after which they can switch back without a new affordability check or it affecting their credit score. The Financial Conduct Authority regularly publish data on uptake of the Mortgage Charter. The Mortgage Charter is in addition to Financial Conduct Authority rules which provide significant protections for all borrowers, including ensuring all customers are treated fairly. Any borrower who is concerned about making their repayment should contact their lender. Seeking support and engaging with lenders to discuss options will not affect a borrower’s credit score in any way, and earlier engagement will mean that lenders can offer more support. More broadly, the market remains open, resilient and competitive. Prospective first-time buyers may find it useful to speak to a broker in order to find the best possible product available for their circumstances.

What estimate she has made of the cost to the Exchequer of introducing an Essential User Rebate for fuel.

The Government is already taking action on fuel affordability at the pump. At Budget 2025, the Government extended the 5p-per-litre cut for a further five months, until the end of August this year. The Government has also cancelled the increase in line with inflation for 2026/27; instead, rates will only gradually return to early 2022 levels by March 2027. The 5p cut was introduced following Russia’s invasion of Ukraine in 2022. The Government's action on fuel duty will save an average heavy goods vehicle more than £800 in 2026/27 compared to previous plans, and follows an extended period where freezes to fuel duty have resulted in substantial savings for the haulage industry. As with all taxes, the Government keeps fuel duty under review.