Treasury written question – answered at on 12 June 2026.
Euan Stainbank
Labour, Falkirk
To ask the Chancellor of the exchequer, what assessment she made of the potential merits of an immediate implementation of the SCAPE discount rate.
Lucy Rigby
The Chief Secretary to the Treasury
The Government remains committed to reviewing the SCAPE discount rate at every valuation cycle. The SCAPE discount rate was announced in Parliament on 19 May 2026. This is in line with established precedent for reviews of the SCAPE discount rate. Where the SCAPE discount rate changes, the factors used in the schemes (for example to calculate the commuted lump sum provided in exchange for a member giving up part of their pension) are reviewed in line with best practice and the law.
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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.
