Treasury written question – answered at on 9 June 2026.
Bernard Jenkin
Chair, Statutory Instruments (Joint Committee), Chair, Statutory Instruments (Joint Committee), Chair, Statutory Instruments (Select Committee), Chair, Statutory Instruments (Select Committee)
To ask the Chancellor of the exchequer, what assessment her Department has made of the potential impact of measures proposed in the EU reset on economic growth, taking account costs on business and the taxpayer of, inter allia, i) new regulations and directives brought into force by the EU since the UK left the EU and to be imposed on the UK; ii) payments which will be required to be paid to the EU by the UK.
Torsten Bell
The Parliamentary Secretary, HM Treasury, The Parliamentary Under-Secretary of State for Work and Pensions
At a time of great global uncertainty, we must deepen our relationships with allies whose values we share and whose interests are tied to our own. This is why we will pursue a closer relationship with the EU where it is in our national interest to do so.
The Government is committed to providing appropriate analysis of any agreement that ius made with the EU. The Government estimates that the Sanitary and Phytosanitary Agreement (SPS) and Emissions Trade Scheme Linking (ETS) will add up to £9 billion to the UK economy by 2040.
The 2025 UK-EU Common Understanding sets out that the SPS, ETS and electricity agreements will include appropriate financial contributions.
Yes0 people think so
No0 people think not
Would you like to ask a question like this yourself? Use our Freedom of Information site.
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.
