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Cycling

Treasury written question – answered at on 25 July 2018.

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Photo of Stephen Kerr Stephen Kerr Conservative, Stirling

To ask the Chancellor of the exchequer, what assessment he has made of the financial benefits for the public purse of the Cycle to Work Scheme.

Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General

The Government has not made an assessment of the financial benefits of the Cycle to Work scheme. Bicycles provided under the scheme are tax exempt and so no data is reported to HMRC.

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  • (Citation: HC Deb, 25 July 2018, cW)

Chancellor of the Exchequer

The chancellor of the exchequer is the government's chief financial minister and as such is responsible for raising government revenue through taxation or borrowing and for controlling overall government spending.

The chancellor's plans for the economy are delivered to the House of Commons every year in the Budget speech.

The chancellor is the most senior figure at the Treasury, even though the prime minister holds an additional title of 'First Lord of the Treasury'. He normally resides at Number 11 Downing Street.