Treasury written question – answered at on 14 July 2026.
Bell Ribeiro-Addy
Labour, Clapham and Brixton Hill
To ask the Chancellor of the exchequer, what estimate her Department has made of the potential impact of including fresh bananas in the proposed list of everyday essential goods eligible for cost of living tariff suspensions on consumer costs.
Lucy Rigby
The Chief Secretary to the Treasury
As the Chancellor set out in her statement to the House on 24 March, she has asked officials to look at where targeted reductions to agrifood tariffs can help bring down food prices for consumers, balancing this against the implications for domestic producers, food security and other Government objectives. To assess the potential impact of the proposed tariff suspensions, announced on 21 May, the government invited the public and industry to respond to a call for input. This call for input closed on 24 June, and HM Treasury is working with relevant departments to carefully consider the evidence provided.
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.
The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.
