Written questions by Naish.

Whether the Office of Financial Sanctions Implementation plans to issue updated guidance to asset managers on the risks of holding Hong Kong-listed securities that track sanctioned Chinese parent companies through Stock Connect.

UK businesses should ensure compliance with all UK sanctions regulations as part of their business operations, including performing due diligence checks on all of their clients, suppliers and partners. Non-compliance with UK sanctions is a serious offence and punishable through financial penalties or criminal prosecution.OFSI has delivered a wealth of guidance, advisories, alerts and threat assessment reports assessing sectoral threats and vulnerabilities relating to financial sanctions. These products have been produced to support industry to comply with UK sanctions, including as part of their global operations. OFSI is not currently working on further guidance for the Hong Kong securities sector. If firms are unclear on their obligations, they should seek legal advice.If somebody has evidence or information of activity that contravenes UK financial sanctions, this should be reported to OFSI immediately using the reporting form available on GOV.UK(https://www.gov.uk/guidance/suspected-breach-of-financial-sanctions-what-to-do).

If she will commission a review of UK (a) pension fund and (b) insurance fund exposure to Chinese corporations sanctioned by allied jurisdictions.

There are currently no plans to commission a review of UK pension fund and insurance fund exposure to Chinese corporations sanctioned by allied jurisdictions.The Government does routinely assess the impacts of its sanctions.

If she will make an estimate of the revenue to the public purse from the taxes paid by British National (Overseas) visa holders since 2021.

An estimate of the revenue to the public purse from the taxes paid by British National (Overseas) visa holders since 2021 is not available, as the information is not held.

How many people are affected by the Loan Charge that have open pre-2010 enquiries.

The Government has commissioned an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers. HMRC is currently providing updated information that the review has requested. It would be wrong to pre-empt the outcome of the review by disclosing that information before the review has concluded. The information provided to the review will be published in due course.

What estimate she has made of the number of people impacted by the Loan Charge Scandal.

The Government has commissioned an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers. HMRC is currently providing updated information that the review has requested. It would be wrong to pre-empt the outcome of the review by disclosing that information before the review has concluded. The information provided to the review will be published in due course.

How many people have settled with HMRC to avoid the Loan Charge.

The Government has commissioned an independent review of the Loan Charge to help bring the matter to a close for those affected whilst ensuring fairness for all taxpayers. HMRC is currently providing updated information that the review has requested. It would be wrong to pre-empt the outcome of the review by disclosing that information before the review has concluded. The information provided to the review will be published in due course.

Whether funding decisions through the National Wealth Fund consider food supply chain resilience.

The National Wealth Fund does not provide grant funding, it invests in capital intensive projects and companies by offering financing in the form of debt, equity and guarantees. The Statement of Strategic Priorities to the National Wealth Fund, issued by the Chancellor on 19 March 2025, sets out that the National Wealth Fund will prioritise investment into the Industrial Strategy sectors of clean energy, advanced manufacturing, digital and technologies, and transport, and support supply chain resilience across these priority sectors. The NWF remains flexible to invest in support of emerging government priorities and in response to changing market conditions.

Whether the Growth Mission Fund will include eligibility criteria for (a) rural job creation and (b) the farming supply chain.

The Growth Mission Fund will invest £240 million of capital from 2026/27 to 2029/30 in projects that enable local job creation and the economic regeneration of local communities. Further detail on this fund and the criteria that will be applied for project selection will be set out in due course.

If she will publish her Department's plans for an open finance regulatory framework.

As set out in the National Payments Vision, the government’s ambition is for the UK to be a world leader in Open Finance – the next generation of financial data sharing. The benefits are potentially transformative for businesses and customers, enabling choice, innovation and a greater ability to engage with financial services. The government is prioritising the development of a long-term regulatory framework for Open Banking, which will lay the foundations for Open Finance.

If she will make an assessment of the potential impact of increasing the use of open banking on levels of financial inclusion.

The UK has been a world leader in Open Banking since 2018. Open Banking providers offer innovative services using customer data, and can help with improving financial inclusion, such as by allowing customers to gain better oversight of their finances, or by improving access to credit. The Government is committed to maintaining the UK’s leadership in this area. This is why the government set out in the National Payments Vision, published in November, that Open Banking must transition to a sustainable long-term regulatory framework. The government is committed to delivering this framework and intends to use incoming smart data powers in the Data (Use and Access) Bill, currently progressing through Parliament, to do so. The Government is working to ensure that individuals have access to the appropriate financial products and services they need. This is why I have committed to publish a Financial Inclusion Strategy later this year, which will examine the barriers consumers face and solutions to address them. On the 90-day Open Banking consumer consent period - this is a matter for the Financial Conduct Authority (FCA), which is independent from Government. The FCA will respond to the Honourable Member by letter, and a copy of the letter will be placed in the Library of the House of Commons.

Whether her Department is taking steps to revise the open banking framework.

The UK has been a world leader in Open Banking since 2018. Open Banking providers offer innovative services using customer data, and can help with improving financial inclusion, such as by allowing customers to gain better oversight of their finances, or by improving access to credit. The Government is committed to maintaining the UK’s leadership in this area. This is why the government set out in the National Payments Vision, published in November, that Open Banking must transition to a sustainable long-term regulatory framework. The government is committed to delivering this framework and intends to use incoming smart data powers in the Data (Use and Access) Bill, currently progressing through Parliament, to do so. The Government is working to ensure that individuals have access to the appropriate financial products and services they need. This is why I have committed to publish a Financial Inclusion Strategy later this year, which will examine the barriers consumers face and solutions to address them. On the 90-day Open Banking consumer consent period - this is a matter for the Financial Conduct Authority (FCA), which is independent from Government. The FCA will respond to the Honourable Member by letter, and a copy of the letter will be placed in the Library of the House of Commons.

If she will make an assessment of the potential impact of extending the 90-day open banking consumer consent period on the economy.

The UK has been a world leader in Open Banking since 2018. Open Banking providers offer innovative services using customer data, and can help with improving financial inclusion, such as by allowing customers to gain better oversight of their finances, or by improving access to credit. The Government is committed to maintaining the UK’s leadership in this area. This is why the government set out in the National Payments Vision, published in November, that Open Banking must transition to a sustainable long-term regulatory framework. The government is committed to delivering this framework and intends to use incoming smart data powers in the Data (Use and Access) Bill, currently progressing through Parliament, to do so. The Government is working to ensure that individuals have access to the appropriate financial products and services they need. This is why I have committed to publish a Financial Inclusion Strategy later this year, which will examine the barriers consumers face and solutions to address them. On the 90-day Open Banking consumer consent period - this is a matter for the Financial Conduct Authority (FCA), which is independent from Government. The FCA will respond to the Honourable Member by letter, and a copy of the letter will be placed in the Library of the House of Commons.

If she will (a) increase the tax-free childcare allowance and (b) allow parents to use that allowance in place of funded hours.

The £2,000 Tax-Free Childcare (TFC) top-up, which can be claimed per year and per child up to age 11 (and £4,000 per disabled child, up to age 16), was set at this level because the Government believes it strikes the right balance between helping parents with their childcare costs and managing the public finances in a responsible way. From September 2025, childcare entitlements for eligible working parents of children aged from nine months will increase from 15 hours to 30 hours, helping hundreds of thousands of families with the cost of childcare and supporting parents to work. This year alone, we expect to provide over £8 billion for the early years entitlements – which is an additional £2 billion (over 30% increase) compared to 2024. Please note that parents can claim both TFC and DfE childcare entitlements so long as they are eligible. The government keeps all aspects of childcare policy under review.

Whether she has made an assessment of the potential merits of making private care costs tax deductible.

The Government keeps all tax reliefs under review. When considering a tax relief for private care costs, a range of factors must be taken into account, including how effective the relief would be at achieving its policy intent, how well-targeted the support would be, whether it adds complexity to the tax system, and overall cost.

What assessment she has made of the potential merits of changing the climate change levy exemption for natural gas combined heat and power.

The Climate Change Levy (CCL) is a tax on the supply of energy to businesses and the public sector, introduced in 2001 to encourage energy efficiency. There are a number of CCL exemptions and reliefs, including for energy used by members of the Combined Heat & Power Quality Assurance (CHPQA) programme. Good CHP systems are the most energy efficient means of generating heat and power for many businesses and have more environmental benefits when compared to gas only generation. CHPQA was introduced to promote and reward best practice in CHP generation and members of the programme receive financial benefits, including tax relief on their CCL obligations. As a tax, CCL policy is for the Chancellor and any representations will be considered as part of the tax policy making process. The Department for Energy Security and Net Zero are responsible for the CHPQA programme and will continue to review the objectives of programme in line with the missions and goals of the government.

With reference to paragraph 4.6 of the consultation entitled Consultation on the VAT Treatment of Private Hire Vehicles, published on 18 April 2024, how her Department defines average passenger; and how often the av

There have been a number of court cases in recent years regarding private hire vehicle (PHV) legislation. A consultation seeking views on the potential impact of these court cases on the PHV sector was recently run. Since publishing that consultation, the...

With reference to paragraph 6.2 of the consultation entitled Consultation on the VAT Treatment of Private Hire Vehicles, published on 18 April 2024, what the evidential basis is for stating that two-thirds of the pr

There have been a number of court cases in recent years regarding private hire vehicle (PHV) legislation. A consultation seeking views on the potential impact of these court cases on the PHV sector was recently run. Since publishing that consultation, the...