Written questions by Holden.

With reference to the document entitled Fixing the foundations: Public spending audit 2024-25, published on 29 July 2024, if she will publish the (a) equality impact assessment, (b) strategic environmental assessment and (b) environmental principles assessment produced for the Ministerial decision to cancel the Restoring Your Railway fund.

On 8 July 2024, the Chancellor of the Exchequer instructed HM Treasury officials to undertake a audit of public spending. The audit’s findings showed a forecast overspend on departmental spending of £21.9 billion above the resource departmental expenditure limit (RDEL) totals that had been set at Spring Budget 2024. Taking immediate action to respond to the spending pressure, the government cancelled the Restoring Your Railway programme as a cost-saving measure of £85 million. HM Treasury carefully considers the impact of its decisions on those sharing protected characteristics in line with both our legal obligations and with our commitment to promoting fairness. HM Treasury also carefully considers the environmental impacts of decisions in line with the environmental principles policy statement duty and the recognition of long-term environmental targets to tackle climate change.

Whether her Department has made an estimate of the number of state pensioners that have had their taxable pension income miscalculated due to HMRC applying 52 weeks of the uprated rate rather than accounting for the weeks paid at the previous year’s rate.

The Government is committed to making sure older people can live with the dignity and respect they deserve in retirement. The State Pension is the foundation of the support available to them. Over the course of this Parliament, the yearly amount of the full new State Pension is currently projected to go up by around £1,900 based on the Office for Budget Responsibility's latest forecast. In line with the Government's commitment to the Triple Lock for the duration of this parliament, over 12 million pensioners have benefitted from a 4.1 per cent increase to their basic or new State Pension this year. Those on a full new State Pension will be getting an additional £470 a year. The extra income comes on top of a substantial increase in 2024/25, which saw those receiving a full new State Pension get a £900 boost. When it comes to taxes, social security benefits are treated differently depending on why they are paid. Generally, benefits that replace income, like the State Pension, are taxable. The Personal Allowance - the amount an individual can earn before paying tax - will continue to exceed the basic and full new State Pension in 2025/26. This means pensioners whose sole income is the full new State Pension or basic State Pension without any increments will not pay any income tax. Most pensioners who pay tax on their State Pension are in Pay As You Earn. For these customers, HMRC calculates how much State Pension an individual accrues each year by calculating one week at the old rate of State Pension and 51 weeks at the new rate and adjusting their tax code accordingly. This means most pensioners pay the right amount of tax in real time. HMRC has become aware that for a sub-set of individuals in receipt of the State Pension, a calculation error means that their tax is calculated based on 52 weeks at the new rate. The difference in tax owed is approximately £5. Affected individuals can call HMRC to amend any incorrect figures of State Pension.

What steps her Department is taking to ensure HMRC tax calculations accurately reflect the period in which state pension upratings apply; and whether HMRC has a planned date for resolving this issue.

The Government is committed to making sure older people can live with the dignity and respect they deserve in retirement. The State Pension is the foundation of the support available to them. Over the course of this Parliament, the yearly amount of the full new State Pension is currently projected to go up by around £1,900 based on the Office for Budget Responsibility's latest forecast. In line with the Government's commitment to the Triple Lock for the duration of this parliament, over 12 million pensioners have benefitted from a 4.1 per cent increase to their basic or new State Pension this year. Those on a full new State Pension will be getting an additional £470 a year. The extra income comes on top of a substantial increase in 2024/25, which saw those receiving a full new State Pension get a £900 boost. When it comes to taxes, social security benefits are treated differently depending on why they are paid. Generally, benefits that replace income, like the State Pension, are taxable. The Personal Allowance - the amount an individual can earn before paying tax - will continue to exceed the basic and full new State Pension in 2025/26. This means pensioners whose sole income is the full new State Pension or basic State Pension without any increments will not pay any income tax. Most pensioners who pay tax on their State Pension are in Pay As You Earn. For these customers, HMRC calculates how much State Pension an individual accrues each year by calculating one week at the old rate of State Pension and 51 weeks at the new rate and adjusting their tax code accordingly. This means most pensioners pay the right amount of tax in real time. HMRC has become aware that for a sub-set of individuals in receipt of the State Pension, a calculation error means that their tax is calculated based on 52 weeks at the new rate. The difference in tax owed is approximately £5. Affected individuals can call HMRC to amend any incorrect figures of State Pension.

Whether her Department has made an assessment of the potential impact of draught beer duty relief on the viability of pubs in (a) rural areas and (b) newly developed communities.

The Chancellor’s draught rate cut at Autumn Budget 2024 applied to approximately 60% of the alcoholic drinks sold in pubs. Draught beer and cider now pay 13.9% less in duty than their packaged equivalents – a 50% increase on the previous draught discount of 9.2%. This took a penny of duty off a typical strength pint.Draught beer and cider now pay 13.9% less in duty than their packaged equivalents – a 50% increase on the previous draught discount of 9.2%.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.

If she will introduce a three month extension to the transition period for capital allowance rules for Double Cab Pick Ups.

Following recent case law from 2020, Double Cab Pick Ups with a payload of one tonne or more must be treated as cars for capital allowances purposes, in line with the Court of Appeal's judgement on the primary suitability of such vehicles. The government recognised that this change will affect businesses, who need certainty and predictability. Which is why HMRC has put in place substantial transitional arrangements. These ensure that current owners, and those who purchased Double Cab Pick Ups before 1 April 2025 (for Corporation Tax) and 6 April 2025 for (Income Tax), and incur expenditure before 1 October 2025, are not impacted. The purpose of the transition period was to provide certainty and allows businesses time to adapt. The government gave just under a year’s notice of the October 2025 deadline.

Pursuant to the Answer of 1 July 2025 to Question 63032 on National Security: Expenditure, if she will publish the NATO reporting guidelines.

NATO has a common definition of defence expenditure that is agreed by all NATO allies.The definition of NATO defence expenditure, and the recently announced defence and security related spending, can be found on the NATO website.NATO - Topic: Defence expenditures and NATO’s 5% commitment

Whether her Department has provided additional funding to government departments to compensate public bodies for the increase in employer National Insurance contributions for each year of the Spending Review 2025.

At Autumn Budget 2024 the Government set aside funding to support the public sector with the additional cost of employer National Insurance Contributions. The Government then updated Parliament on allocations by department for 2025-26 (published alongside Main Estimates 2025-26).Spending Review 2025 departmental settlements fully reflect these changes for 2026-27, 2027-28 and 2028-29, with the Barnett formula applying in the usual way.

How many exemptions have been approved for Permanent Secretary remuneration to exceed the band maximum since 4 July 2024.

Since 4th July 2024, two Permanent Secretary roles have been approved to exceed the Permanent Secretary pay band.

Whether she is taking steps to help ensure that SME firms with defence contracts are not de-banked by financial institutions.

The government recognises that access to banking services is vital for people and businesses across the UK. It is this government's firm position that no firm should be denied access to banking services solely on the grounds they work in defence. The upcoming Defence Industrial Strategy will have SMEs at its heart, and will lay out the steps we are taking as government to support defence SMEs.The government has already legislated to strengthen protections for customers. From April 2026, banks and other providers will be required to give customers a longer notice period of at least 90 days and to provide customers with a sufficiently detailed and specific explanation before they terminate services. This will give people and businesses the time and information they need to challenge decisions or find an alternative provider. We continue to monitor wider access to bank account provision but recognise this is largely a commercial matter. Firms have strict obligations to ensure the legitimacy of a business and protect against financial crime.

What information her Department holds on who the members are of the Royal Mint (a) sub-committee on the selection of themes and (b) advisory committee.

The Royal Mint Advisory Committee (RMAC) is an advisory non-departmental public body that advises the Chancellor of the Exchequer (in her capacity as Master of the Royal Mint) and HM The King on matters of design with respect to circulating and commemorative coins. RMAC exists to promote numismatic (i.e. the study of coins) and – more broadly - medallic art in the UK, ensuring designs meet high standards of decency and good taste. Non-executive members of the Committee are unremunerated Crown appointments. RMAC typically comprises four Royal Mint executive members, seven non-executive members including the current Chair, Baroness Stuart of Edgbaston, a representative from HM Treasury and experts in art, design, heraldry, typography, sculpture, history and numismatics. Currently the RMAC comprises of three non-executive members and nine executive members; more information can be found on the Royal Mint Museum's website: Royal Mint Advisory Committee. RMAC’s Sub-Commitee on the Selection of Themes, chaired by Baroness Stuart, brings together at least two non-executive members of RMAC alongside a representative from HM Treasury and The Royal Mint to examine proposed themes for future commemorative and circulating coins, making recommendations to the Chancellor of the Exchequer. HM Treasury is currently running a public appointments campaign to appoint four non-executive members to RMAC: a generalist, artist, art historian and lettering expert. Confirmation of these appointments will be made in the autumn.

Whether her Department is (a) (i) represented on and (ii) consulted by and (b) able to veto the decisions of the Bank of England's Banknote Character Advisory Committee.

The roles and responsibilities for the production and issuance of banknotes are detailed in the Currency and Bank Notes Act 1954 and the 2025 Memorandum of Understanding on the financial relationship between HM Treasury and the Bank of England. The Bank of England is responsible for all aspects of the design, production, and issuance of banknotes, including the selection of characters, design features, and security measures. The Bank of England is required to seek HM Treasury approval only for the introduction of new denominations, as set out in section 1(1) of the Currency and Bank Notes Act 1954 and Section 9C of the Memorandum of Understanding. The Bank of England may keep HM Treasury informed of developments on a non-statutory, informal basis, but there is no requirement for consultation with HM Treasury on matters of design or character selection. As a consequence, HM Treasury is not represented on the Bank of England’s Banknote Character Advisory Committee. The 2025 Memorandum of Understanding can be found here:Financial relationship between HM Treasury and the Bank of England Memorandum of Understanding

Pursuant to the Answer of 23 April 2025 to Question 44962 on Government Departments: Cost Effectiveness, whether the 2025-26 baseline for the 15% saving in administration budgets includes departmental efficiency savings announced in July 2024.

The savings and efficiencies announced in July 2024 helped to address spending pressures identified through the public spending audit. These included a 2% savings against government administration budgets.In the Spring Statement, the Chancellor announced that all departments would be expected to make a 15% reduction in their administration budgets by 2029-30. This used 2025-26 budgets as published at Autumn Budget 24 as the baseline, which included in-year changes, for example employers’ National Insurance Contributions.

Pursuant to the Answer of 2 May 2025 to Question 47820 on Office for Value for Money: Aviation, if she will make it her policy to instruct the Office for Value for Money to undertake an assessment into the value for money of Ministers’ use of non-scheduled flights.

At the Autumn Budget, the Chancellor tasked the Office for Value for Money with supporting Value for Money (VfM) decisions as part of the spending review, including supporting departments to develop efficiency targets underpinned by credible delivery plans, scrutinising investment proposals and conducting studies into cross-cutting issues where there is a high-risk of poor VfM. The OVfM will also recommend reforms to the spending framework. The OVfM’s remit has not changed.

With reference to the document entitled HM Treasury: Ministers' Hospitality - February 2025, published 25 April 2025, whether the Economic Secretary to the Treasury discussed the (a) foreign influence registration scheme and (b) China with TheCityUK on 6 February 2025.

I attended TheCityUK’s annual dinner on 6 February 2025. Each year, a minister and/or regulator addresses the dinner. Speakers in previous years have included the Chancellor of the Exchequer, the Governor of the Bank of England, and numerous Economic Secretaries to the TreasuryI delivered a speech highlighting the important role of the financial services sector in delivering growth and setting out the Government's vision for the sector's future development and continued global leadershipThe foreign Influence Registration Scheme or China was not discussed.

With reference to the publication HM Treasury: Ministers' Hospitality February 2025, published on 25 April 2025, if she will list the Global Counsel representatives she met on 19 February 2025.

The Cabinet Office publish a monthly register of the hospitality that Ministers have received, which can be found on gov.uk: https://www.gov.uk/government/collections/register-of-ministers-gifts-and-hospitality It should be noted, however, that the Cabinet Office state in their guidance that the names of individuals should only be reported where the individuals are representing their own interests, with the exception of Senior Media Figures.

What (a) gifts and (b) hospitality she has (i) accepted and (ii) reimbursed the donor for since 4 July 2024.

The Cabinet Office publish a monthly register of Ministers’ gifts and hospitality. These returns, including the Chancellor’s, can be found on gov.uk: https://www.gov.uk/government/collections/register-of-ministers-gifts-and-hospitality

With reference to the document entitled HM Treasury: Ministers’ Hospitality - January 2025, published on 27 February 2025, whether the she discussed the foreign influence registration scheme in relation to China with (a) the China Council for the Promotion of International Trade and (b) HBSC on 11 and 12 January 2025.

The Chancellor did not discuss the Foreign Influence Registration Scheme with HSBC or the China Council for the Promotion of International Trade during the lunch and dinner referred to in the HM Treasury: Ministers’ Hospitality - January 2025, published on 27 February 2025.

How many staff by headcount are currently assigned to the Office for Value for Money; and what is the annual budget for the business unit.

The Office for Value for Money is a small, time-limited organisation based in HM Treasury. In addition to its independent Chair, the OVfM comprises a team of c.15 officials, including secondees from the National Audit Office (NAO), the Government Commercial Function, and the Evaluation Task Force. Its budget will be published and outturn data will be made available with HM Treasury’s Annual Report and Accounts.

How many civil servants in her Department have been disciplined for (a) plagiarism and (b) making false statements on a CV when applying for a job in the latest 12 month period for which figures are available.

HM Treasury has not taken any formal disciplinary action against any of its civil servants for plagiarism or making factually incorrect statements in a CV or a job application in the last 12 months.

With reference to the press release entitled Regulator axed as red tape is slashed to boost growth, published on 11 March 2025, what the estimated reduction in staff numbers is from the merger of the Payment Services Regulator into the Financial Conduct Authority; what functions will cease; and whether staff will be required to move desks.

The Payment Systems Regulator (PSR) has carried out important work to support the UK’s world leading payments sector. However, moving forward, the Government wishes to see a more streamlined regulatory environment with minimal overlap between regulators’ responsibilities. That is why the Government has announced its intentions to consolidate the PSR and its functions primarily within the Financial Conduct Authority (FCA). The Government will consult on the detail of this proposal in the summer. However, the expectation is that most functions will move to the FCA, reflecting the close synergies between those organisations. Questions regarding the staffing of the FCA are matters for the regulator, which is independent from Government.