Written questions by Gethins.

With reference to paragraph 2.28 of the Office of Budget Responsibility's publication entitled Economic and fiscal outlook, published in October 2024, if she will make an estimate of the macro economic cost of the change in overall trade intensity.

HM Treasury does not prepare forecasts for the UK economy and public finances, including assessments of potential impacts of policy changes. These are the responsibility of the independent Office for Budget Responsibility (OBR) which confirmed its assessment of EU exit’s economic impacts in its March 2024 Economic and Fiscal Outlook.HM Treasury continues to consider a range of data sources, including trade import and export figures, as part of the department’s ongoing monitoring of the UK economy.The Government is working with the EU to identify areas where we can strengthen cooperation for mutual benefit, and as part of this we will welcome EU leaders to the UK for the first UK-EU Leaders’ Summit on 19 May.

When she plans to reply to correspondence from the hon. Member for Arbroath and Broughty Ferry of 31 January and 25 February 2025, reference SG00234.

The correspondence from the hon. Member for Arbroath and Broughty Ferry was transferred to the Ministry of Housing, Communities & Local Government. This transfer was confirmed by email on 03 March 2025.

When she plans to respond to correspondence from the hon. Member for Arbroath and Broughty Ferry of 3 November 2024 on loan charges, with reference SG00072.

I can confirm that a response has been sent on 27 February 2025 to the hon. Member for Arbroath and Broughty Ferry.

If her Department will provide guidance for businesses on the money laundering risks of transactions (a) directly and (b) indirectly linked to Russia.

The Treasury and the Home Office hold joint responsibility for publishing a periodic national risk assessment which sets out the money laundering and terrorist financing risks in the UK. The national risk assessment provides guidance to regulated firms by...

Whether her Department is taking steps to strengthen anti-money laundering regulations.

We are committed to ensuring the UK’s anti-money laundering and counter terrorist financing regime is both effective and proportionate. To that end, a consultation on improving the effectiveness of the Money Laundering Regulations closed in June 2024 and ...

If she will make an assessment of the potential merits of placing Russia on a domestic money laundering watchlist.

The UK’s list of high-risk third countries aligns with those countries identified by the Financial Action Task Force (FATF) as having strategic deficiencies in their anti-money laundering and counter terrorist financing regimes, which ensures that the ide...

With reference to oral contribution of 3 December 2024 by the Chief Secretary to the Treasury, if she will make an overall estimate of the impact of the UK’s exit from the EU.

No. The Government is focussed on resetting the relationship with the EU, which will support economic growth, the central mission of the Government.

What recent assessment her Department has made of the impact of leaving the EU on public finances.

I refer the Hon. member to my answer to his question on this issue during the Topical Questions section of HMT orals today.

With reference to Section 2.28 of the OBR’s Economic and Fiscal Outlook, what assessment she has made of the potential impact of a 15% decrease in the UK economy on public finances.

The growth mission is the central mission of the government. Through the growth mission, the government is restoring economic stability, increasing investment, and reforming the economy to drive up prosperity and living standards across the UK. The govern...

What assessment she has made of the potential impact of leaving the European (a) Customs Union and (b) Single Market on growth.

The UK economy has experienced significant disruption in recent years due to a range of factors including Covid-19, supply chain disruption and the invasion of Ukraine by Russia. It remains challenging to separate out the effects of leaving the Customs Un...

What assessment her Department has made of the impact of the UK's exit from the EU on public finances.

The Government has no overall estimate of the impact of the UK’s exit from the EU on public finances. As part of the Withdrawal Agreement with the EU, the UK agreed the Financial Settlement, which is a methodology for settling pre-existing UK financial ob...