Written questions by Swann.

What assessment she has made of the potential impact of a material fall in the value of the US dollar on UK official foreign exchange reserves.

Awaiting answer.

What assessment she has made of the potential impact of a significant managed depreciation of the US dollar as part of international currency realignment on UK inflation, gilt markets and sterling.

Awaiting answer.

Whether she has had discussions with her US counterpart on proposals for new international (a) monetary and (b) currency realignment arrangements, including proposals described as Bretton Woods realignment.

Awaiting answer.

Pursuant to the Answer of 13 April 2026 to Question 124367, what the terms of reference were for the open book exercise.

The open-book review was a condition of the £400m reserve claim the Northern Ireland Executive received at Supplementary Estimates 2025-26. The review’s Terms of Reference were agreed between HM Treasury and the Northern Ireland Executive. The exercise has now concluded, and HM Treasury has shared the report with the Northern Ireland Department of Finance.

Pursuant to WPQ 124367, answered 13th April at 11:04, to detail the date when the open book exercise was completed for each Northern Ireland Department.

The open-book review was a condition of the £400m reserve claim the Northern Ireland Executive received at Supplementary Estimates 2025-26. The review’s Terms of Reference were agreed between HM Treasury and the Northern Ireland Executive. The exercise has now concluded, and HM Treasury has shared the report with the Northern Ireland Department of Finance.

Pursuant to WPQ 124367, answered 13th April at 11:04, who commissioned the initial open book exercise.

The open-book review was a condition of the £400m reserve claim the Northern Ireland Executive received at Supplementary Estimates 2025-26. The review’s Terms of Reference were agreed between HM Treasury and the Northern Ireland Executive. The exercise has now concluded, and HM Treasury has shared the report with the Northern Ireland Department of Finance.

What (a) fuel duty and (b) other tax treatment is applicable to hydrotreated vegetable oil used in (i) road fuel and (ii) home heating fuel.

Hydrotreated vegetable oil (HVO) is taxed in line with other fuels according to its use. For fuel duty purposes, HVO is treated as a diesel-equivalent “heavy oil” in the Hydrocarbon Oils Duty Act 1979. When used as a road fuel, it is therefore liable to the standard rate of fuel duty applicable to diesel which is 52.95p per litre. When used for domestic heating, HVO benefits from the rebated duty rate of 10.18p per litre. For VAT, HVO is subject to the standard rate when used as a road fuel. When supplied for domestic heating, it is eligible for the reduced rate of VAT, subject to the same conditions that apply to other heating fuels, including applicable quantity thresholds. The Government currently encourages the use of HVO through the Renewable Transport Fuel Obligation (RTFO), which incentivises the use of low carbon fuels and reduces emissions from fuel supplied for use in transport and non-road mobile machinery. The RTFO has been very successful in supporting a market for renewable fuel since its introduction in 2008. Renewable fuels supplied under the RTFO currently contribute a third of the savings required for the UK’s transport carbon budget.

When she plans to publish the results of the open book assessment of Northern Ireland devolved departments.

The open-book exercise is intended to support the Northern Ireland Executive, so any decision to publish the report would be a question for the Northern Ireland Executive.

If will list the Barnett consequentials received by the Northern Ireland Executive as a result of UK Government policy decisions on (a) energy, (b) fuel poverty, and (c) household energy support by (i) policy decision, (ii) funding stream, (iii) amount, (iv) date received and (iv) conditions in each of the last five years.

The Block Grant Transparency publication breaks down all changes in the Northern Ireland Executives block grant funding from the 2015 Spending Review up to and including Spending Review 2025. The most recent report was published in October 2025:Block Grant Transparency: October 2025 - GOV.UK

What value of goods have been identified as a threat to the European Union's economy and held at a check point between Great Britain and Northern Ireland since the introduction of the Windsor Framework by year.

HMRC does not hold data on the value of goods identified as a threat to the EU economy. The UK Internal Market Scheme enables businesses to move goods from Great Britain to Northern Ireland without being subject to customs duties and unnecessary checks and paperwork. Over 15,000 businesses have been authorised for UKIMS. The Independent Monitoring Panel's recent assessment of the UK Internal Market System showed that 96% of the value of goods moving via freight from Great Britain to Northern Ireland did so under the UK internal market system for the period 1 January 2025 – 30 June 2025.

What steps she plans to take to enable the Northern Ireland Executive to retain monies received from identifying benefit fraud; and whether there is any blockage to this happening.

Benefit payments in Northern Ireland are a devolved matter.To make sure support goes to those who truly need it, the UK Government will work with the Northern Ireland Executive over the coming months on ways to tackle welfare fraud and error in Northern Ireland and on different funding options, including the potential to share a portion of resulting savings with the Executive.

What assessment she made of the potential merits of reducing Corporation Tax in Northern Ireland.

This is a matter for the NI Executive. The 2014 Stormont House Agreement between the UK Government and the Northern Ireland Executive agreed, in principle, for the power to set the rate of Corporation Tax in Northern Ireland on certain trading profits to be devolved to the Northern Ireland Assembly. The Agreement set out that the Executive would need to formally request the power to change the Corporation Tax rate in Northern Ireland. The Executive would also need to demonstrate that its finances were on a sustainable footing, and that the Executive’s block grant would need to be adjusted to reflect the Corporation Tax revenues foregone if the devolved power were exercised.

How much revenue the Exchequer has collected from the Apprenticeship Levy (a) in total and (b) from companies registered in Northern Ireland in each of the last three years.

Receipts data for the Apprenticeship Levy is published by HM Revenue and Customs in their Tax and NIC Receipts publication which can be found online at: https://www.gov.uk/government/statistics/hmrc-tax-and-nics-receipts-for-the-uk Receipts data based on company registered addresses do not reflect where liabilities are accrued or where employees are based. For example, the data on receipts from companies with registered addresses in Northern Ireland will not include businesses registered in Wales, Scotland, or England, who have a presence and pay employees in Northern Ireland.

Who directed the ICS2 system to go live in August 2025.

The Import Control System 2 (ICS2) is the new safety and security system for certain goods moving by air, maritime, road or rail into Northern Ireland. It is already in use for air and bulk maritime movements into Northern Ireland, replacing the existing Import Control System Northern Ireland (ICSNI). The ICS2 system has been available for road movements since 1 April 2025, with operators initially having until 1 September 2025 to onboard to the new system. This has subsequently been extended to 31 December 2025 to give businesses more time to prepare to onboard to ICS2.

If she will set out the (a) number, (b) value and (c) average delay of tax refunds on hold due to security reasons for which the latest data is available.

HMRC received 2,871,186 Self-Assessment repayment requests between 6 April 2024 and 5 April 2025. Of these, 199,266 (7%) were held for review, with a value of £2.2bn. The average duration of delay for Self-Assessment customers whose repayments were withheld and subsequently released was approximately 25 days.HMRC received 2,859,032 VAT repayment requests between 6 April 2024 and 5 April 2025. Of these, 188,696 (6.6%) were held for a review, with a value of £65.5bn. The average duration of delay for VAT customers whose repayments were withheld and subsequently released was approximately 25 days.

What the Barnett consequential for Northern Ireland from the recent trade deal with India will be.

The UK-India Free Trade Agreement will make it easier for British businesses to trade with the fastest growing economy in the G20. The government estimates that it will increase bilateral trade by £25.5 billion, add £4.8billion a year to our economy and boost wages by £2.2 billion every year in the long run. The Barnett formula is applied when UK Government departmental budgets change. Any future changes to UK Government department funding as a result of the UK-India Free Trade Agreement will have the Barnett formula applied in the normal way.

How much Apprenticeship Levy has been (a) collected from and (b) provided to Northern Ireland employers in each of the last five years.

Reliable estimates of the revenue raised from businesses in Northern Ireland from the Apprenticeship Levy are not available as any estimate would need to be based on where employers are registered, and therefore would not necessarily reflect where the liabilities are accrued or where employees are based. Any estimate would not include businesses registered in Wales, Scotland, or England, who have a presence and pay employees in Northern Ireland. While the Apprenticeship Levy is UK wide, apprenticeship policy and spending is devolved. This means that the devolved governments receive funding through the Barnett formula in relation to English apprenticeship spending as part of their block grant. The Block Grant Transparency publication breaks down all changes in the devolved governments’ block grant funding from the 2015 Spending Review up to and including Main Estimates 2023-24. The most recent report was published in July 2023. It is for the devolved governments to allocate their funding in devolved areas as they see fit, including investing in their skills programmes.

Whether there will be Barnett consequentials from the £3.25bn Transformation Fund announced in the Spring Statement.

The Transformation Fund will be allocated to UK Government departments through the Spending Review process. The Barnett formula will apply in the normal way, as per the Statement of Funding Policy.

What steps she is taking to (a) support and (b) expand credit unions.

The Government has made clear its strong support for the credit union sector, recognising the value that credit unions bring to their members in local communities across the country in providing products and affordable credit. We continue to engage regularly with this sector to understand the current barriers they face and consider further opportunities for growth. The Chancellor announced new measures to support the growth of the credit union and mutuals sector in her Mansion House speech on 14 November 2024. This included publishing a call for evidence on the potential to reform common bonds for credit unions in Great Britain, asking the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) to produce a report on the mutuals landscape by the end of 2025, and welcoming the establishment of an industry-led Mutual and Co-operative Business Council. Responsibility for credit unions in Northern Ireland is a devolved matter for the Northern Ireland Executive. Treasury officials engage with their counterparts in the Department for the Economy.

Whether she plans to bring forward proposals to counter financial discrimination against cancer survivors.

The Government recognises the importance of access to useful and appropriate financial products. We work closely with the Financial Conduct Authority (FCA), the independent regulator of the UK's financial services sector, to ensure that customers are treated fairly by firms. While the pricing and availability of financial services and products is a commercial decision for firms, FCA rules require the price a consumer pays for a product or service be reasonable compared to the overall benefits they can expect to receive. The FCA also expects that customers get the right support with their financial products, particularly where their personal circumstances, including health conditions, may make them more susceptible to harm. The Government is committed to improving financial inclusion and will continue to work with regulators, firms, and the third sector to this end.