Tag: Treasury

The press release issued by HM Treasury on 11 December 2025.

Over 440 firms now committed to improving female representation at the top of the industry.

• Dame Amanda Blanc steps down as Women in Finance Champion after 5 years in the role, with senior female representation rising from 32% to 36% under her tenure 
• Nationwide CEO Dame Debbie Crosbie appointed as new Women in Finance Champion, as Government pushes for more women in senior City roles.

The Chancellor has appointed Nationwide Building Society CEO Dame Debbie Crosbie as the new Women in Finance champion, as ministers step up the pressure on the City to go further and faster on women’s progression to senior roles. 

Dame Debbie succeeds Aviva CEO Dame Amanda Blanc, whose tenure saw senior female representation in key finance roles jump from 32% to 36% as well as leading the charge on strengthening the pipeline for women into financial services. 

As Champion, Dame Debbie will continue to drive momentum behind the HM Treasury Women in Finance Charter, which covers more than 440 firms and aims to improve the representation of women in senior leadership to boost the productivity and growth of UK financial services.

Chancellor of the Exchequer, Rachel Reeves, said:

When I became Chancellor, I said my time in office would be a success if more young women and girls knew there should be no ceiling on their ambition and no limit to what they can achieve. 

The Women in Finance Charter is a key tool to achieve that progress. I thank Amanda for her exceptional leadership over the past 5 years, and look forward to working with Debbie as she takes on the mantle.

Dame Amanda Blanc said:  

I am incredibly proud of the progress made during my time as Women in Finance Champion. 

There is still plenty more to do to reach parity and I know that Debbie will be a powerful driving force in bringing about further progress and ensuring even more talented women are given the opportunities they deserve to thrive and lead.

Dame Debbie Crosbie said: 

When women succeed in business they inspire the next generation and ensure economic growth is sustainable and inclusive. The Charter is key to driving even more growth in financial services and harnessing all of the sector’s skills and talents.  I look forward to building on the excellent progress made by Amanda, and working with the Chancellor and across our industry to encourage even more growth and progress.

Over the last 5 years, Dame Amanda has driven progress in the sector through developing a blueprint for change, advocating for women in underrepresented spaces such as tech, strengthening the talent pipeline through the Mirror Taskforce of talented mid-level women, and convening leaders – including the Women in Finance Climate Action Group for COP26 and Accountable Executive Taskforce – to focus on greater gender parity. 

Dame Debbie Crosbie will take up the Women in Finance Champion role from 1 January 2026, serving in an unpaid, direct ministerial appointment reporting to the Economic Secretary to the Treasury.  

Dame Debbie joined Nationwide as its first-ever female CEO in June 2022 and was appointed a Dame Commander of the British Empire (DBE) in June 2025 for services to the financial sector.

The press release issued by HM Treasury on 11 December 2025.

David Roberts reappointed as Chair of the Bank of England’s Court of Directors and Dame Anne Glover and Diana Noble reappointed as Non‑Executive Directors.

• David Roberts has been reappointed as Chair of the Court of the Bank of England by the Chancellor of the Exchequer, the Rt Hon Rachel Reeves MP. 
• Following his reappointment, he will serve a second four‑year term as Chair of Court, commencing on 24 October 2026. 
• The Chancellor has also reappointed two Non‑Executive Directors on the Bank’s Court:
  • Dame Anne Glover has been reappointed as a Non‑Executive Director until 31 May 2028; and 
  • Diana Noble has been reappointed as a Non‑Executive Director until 31 May 2027.

The Rt Hon Rachel Reeves MP, Chancellor of the Exchequer, said:

I am pleased to confirm the reappointment of David Roberts as Chair of the Bank of England’s Court, alongside the reappointments of Dame Anne Glover and Diana Noble as Non‑Executive Directors.

Each of them brings exceptional experience and expertise from across financial services, investment and the wider economy. Their continued service will support the Bank to deliver its core missions of monetary and financial stability.

Governor of the Bank of England, Andrew Bailey, said: 

I am delighted that David Roberts, Diana Noble and Anne Glover have been reappointed to serve on the Bank’s Court, and I welcome their continued contributions to the organisation

About David Roberts 

David Roberts is Chair of the Bank of England’s Court, leading the board in setting strategy, risk appetite and key organisational decisions. 

He also holds advisory roles at The Mentoring Foundation, Henley Business School, and Campion Willcocks. Previously, he chaired Beazley plc and Nationwide Building Society, was Vice Chair of NHS England, and Group Deputy Chair at Lloyds Banking Group. David spent 24 years at Barclays, becoming a Main Board Executive Director, and later served as Chair and CEO of Bawag PSK AG. 

He holds an MBA and two honorary doctorates and has been recognised with a CBE and the Chartered Management Institute’s Gold Medal for Management. 

About Dame Anne Glover 

Dame Anne Glover is a Non‑Executive Director on the Bank of England’s Court of Directors and Chief Executive and Co‑Founder of Amadeus Capital Partners. With over 35 years’ experience as a venture capitalist, she has a strong background in science, engineering and business. 

Anne was awarded a DBE in 2025 and a CBE in 2006 for her services to business and engineering. She holds honorary fellowships with the Royal Academy of Engineering, the Royal Society of Edinburgh, and Clare College, Cambridge. 

Her career includes roles in manufacturing with Cummins Engine Company, consulting at Bain & Co, investing at Apax Partners, and operational leadership at Virtuality Group. She has chaired both the British Private Equity and Venture Capital Association and Invest Europe, and serves on investment committees for British International Investment and the Yale Endowment. 

About Diana Noble 

Diana Noble is Deputy Chair of the Bank of England’s Court and Chair of the Remuneration Committee. She also serves on the boards of Wellcome Trust and Brookfield Asset Management, and is a Trustee of The Children’s Society. 

Diana was CEO of CDC (now British International Investment), the UK’s development finance institution, from 2011 to 2017, leading a period of significant transformation and growth. Her career spans private equity, venture capital and international development, including senior roles at Schroder Ventures (now Permira), founding two venture funds, and serving as Executive Vice President, Operations at the Clinton Foundation’s Health Access Initiative. 

Diana holds a first‑class Law degree and was awarded a CBE in 2017. 

About the Court of the Bank of England 

The Court of the Bank of England acts as the Bank’s board. It is responsible for overseeing the Bank’s strategy, governance, budget and risk framework, and for ensuring the effective discharge of the Bank’s statutory functions. 

The Court consists of the Chair and eight other Non‑Executive Directors, the Governor and four Deputy Governors. The Bank’s Chief Operating Officer also attends Court, although they are not technically a full member. Non‑Executive Directors bring independent judgement and a breadth of experience to the Court’s deliberations. 

About the appointment process 

Reappointments to the Court of the Bank of England are not automatic. Each case is considered on its own merits. 

The reappointment of David Roberts for a second four‑year term as Chair of Court, commencing on 24 October 2026, and the reappointments of Dame Anne Glover as a Non‑Executive Director until 31 May 2028 and Diana Noble as a Non‑Executive Director until 31 May 2027, have been made by the Chancellor of the Exchequer and the Economic Secretary to the Treasury in line with the requirements of the Governance Code on Public Appointments. 

David Roberts, Dame Anne Glover and Diana Noble have confirmed that they have not engaged in any political activity in the last five years.

The press release issued by HM Treasury on 9 December 2025.

The G7 Finance Ministers met virtually on 8 December 2025.

We, the G7 Finance Ministers, held a virtual meeting on 8 December 2025, together with the Heads of the International Monetary Fund (IMF), World Bank Group (WBG), Organisation for Economic Cooperation and Development (OECD), and Financial Stability Board (FSB). We were also joined by Canada’s Minister of Energy and Natural Resources and Finance Ministers, or their representatives, from Australia, Chile, Mexico, India, and the Republic of Korea for parts of the meeting.

We welcomed the recent announcements at the G7 Energy and Environment Ministers’ Meeting that seek to secure resilient supply chains for critical minerals. Stable and reliable supply chains are essential to drive economic growth and security, and we will continue to collaborate with international allies and industry partners to reduce single-source dependencies and strengthen our economic resilience. We look forward to further discussions on how we can create a high standards market that will secure our supply chains.

We agreed that the use of non-market policies and practices to disrupt critical minerals supply chains can have significant negative global macroeconomic consequences. They can increase price volatility and undermine global growth prospects and stability, competitiveness and national and economic security. We expressed deep concern with the application of export controls on critical mineral supply chains and committed to work together to diversify and derisk supply chains.

Reaffirming the G7’s unwavering support for Ukraine in defending its territorial integrity and right to exist and its freedom, sovereignty and independence, we welcomed an update from the IMF on the situation in the country and the newly announced Staff Level Agreement. We will continue to work together to develop a wide range of financing options to support Ukraine, including potentially using the full value of the Russian Sovereign Assets, immobilized in our jurisdictions until reparations are paid for by Russia, to end the war and ensure a just and lasting peace in Ukraine. Our action will remain consistent with our respective legal frameworks. We will continue to support the Ukrainian authorities’ commitment to implement reforms, notably addressing informality, tackling corruption, and improving governance including in the state-owned enterprise sector. Together with other partners, we stand ready to support a new IMF program. We also stand ready to amplify the pressure on Russia should peace talks fail. We agreed on the importance of maintaining Ukraine at the top of the G7 agenda under France’s upcoming G7 presidency.  

We agreed on the importance of strengthening G7 coordination with international partners and will continue to enhance our collective security and resilience.

The press release issued by HM Treasury on 9 December 2025.

Britain’s leading founders – including CEOs from Huel and Moneybox – head to No10 to celebrate the government’s multi-billion-pound pro-growth business package.

• Comes as the Budget unlocks billions for innovative firms and delivers the biggest shake-up of entrepreneur tax incentives in a generation.
• Alex Depledge to stay on as UK’s first Entrepreneurship Adviser, supercharging Chancellor’s reforms to support scale-ups and deliver the modern Industrial Strategy’s ambition to make Britain one of the best places in world to do business.

The Chancellor welcomed the UK’s top entrepreneurs to No10 Downing Street last night (8 December), celebrating a bold new plan to back homegrown founders and continue making Britain one of the best places in the world to scale a business as part of the government’s modern Industrial Strategy. 

Founders, investors and innovators from across the UK – including meal-in-a-bottle firm Huel, savings app Moneybox and crime-busting tech company Quantexa – heard the Chancellor’s message loud and clear: economic growth is the government’s number one mission, and Britain’s entrepreneurs will be central to delivering it. 

Last night’s reception follows the Budget, which delivered the most ambitious package for scale-ups in more than a decade: sweeping reforms to tax incentives so firms can attract world-class talent and investment, billions in long-term backing for science and technology firms, and changes to public procurement so taxpayer money is used to drive innovation. 

That builds on efforts to cut burdensome rules and regulation holding back investment and innovation, with the Chancellor setting out how the government will deliver a 25% cut in the administrative cost of regulation over this Parliament worth £6 billion a year to businesses. 

The Chancellor also confirmed that Alex Depledge MBE will continue as her Entrepreneurship Adviser until summer 2026, driving forward reforms to remove the barriers scale-ups face – from accessing finance to navigating complex regulation – so strategically important companies can realise their potential.

Chancellor of the Exchequer, Rachel Reeves, said:

This government backs our entrepreneurs. That’s why we’re overhauling the rulebook – modernising tax incentives, unlocking billions in investment and making it easier for founders to hire, build and grow. Because when British businesses thrive, so does our economy.

Alex Depledge MBE said:

High-growth companies power national growth — if we’re serious about expanding the economy, this is the lever to pull. We don’t need handouts; we need a system that backs the people willing to take risks.  

This Budget is a real step-change, and I’m genuinely excited to keep working with the Chancellor to clear the obstacles that stop scale-ups from reaching their full potential.

The government is doubling eligibility for key schemes such as the Enterprise Management Incentive  and raising investment limits under the Enterprise Investment Scheme. EMI hasn’t been updated in 15 years – and these changes will help high-growth firms reward teams, attract world-class talent and pull in more early-stage capital, boosting Britain’s competitiveness.

Tom Leathes, CEO and Co-Founder of Motorway.com, said:  

The changes to the EMI scheme will make a huge difference. When Motorway hit 250 employees, we suddenly couldn’t offer new joiners the same equity opportunity as our early team. These reforms fix that. Extending option lifespans to 15 years and doubling the employee cap gives UK scale-ups far more firepower to compete for world-class talent much longer into the journey. 

People who join scaling companies take a bet – and when it works, they should share in what they helped build. This is exactly the kind of policy that helps British companies scale and succeed for the long term.

Joshua Western, CEO and Co-Founder of Space Forge, said:

As a European advanced materials company, focused on providing a sovereign, secure and sustainable supply of semiconductor materials to the continent, Space Forge is pleased to be involved with boosting British entrepreneurship. 

It is more important than ever to support entrepreneurship to deliver capability and growth and Space Forge is proud to be a part of that story across the European continent. The entrepreneurship budget announcements by the Chancellor are an important step in recognising the growth engine that start-ups are for the economy.

Alongside this, the government has launched an in-depth conversation with founders and investors about how the tax system supports entrepreneurs, ensuring it rewards people who take risks, reinvest in their businesses and create jobs. This work sits alongside the Entrepreneurship Prospectus, setting out a long-term plan to make the UK the easiest place to start and scale a business. 

A £7 billion injection into UK Research & Innovation (UKRI) will help the UK’s most promising companies push breakthroughs from lab to market, while targeted programmes ensure high-growth firms can access the scale-up capital they need without leaving the UK. 

A new £130 million Growth Catalyst from Innovate UK will deliver grants and hands-on support to cutting-edge science and tech firms. A previous version of this programme turned £156m of grants into £1.55bn of follow-on investment – a tenfold return. 

Meanwhile, the British Business Banks will invest £5 billion in growing companies, crowding in billions more private capital and supporting firms through the risky “Valley of Death” stage so they can scale, hire and export from British soil.

The press release issued by HM Treasury on 9 December 2025.

Taxpayers lost £10.9 billion to fraud and error as the previous government’s pandemic response left the front door open to fraud, an independent report reveals today (9 December 2025).

• Independent Commissioner finds last government’s support schemes left the front door open to covid fraud with £10.9 billion lost to pandemic fraudsters
• Government has already actioned recommendations in Covid Counter Fraud Commissioner’s report – including new fraud powers and voluntary repayment scheme
• Further action planned to retrieve lost funds and prevent repeat of mistakes in future crises

The Covid Counter Fraud Commissioner, Tom Hayhoe’s, final report to Parliament finds many schemes – including Bounce Back Loans – were rolled out with huge fraud risks and no early safeguards – costing the taxpayer millions.

Weak accountability, bad quality data and poor contracting were identified as the primary causes of the £10.9 billion pound losses – which were enough to fund daily free school meals for the UK’s 2.7 million eligible children for eight years.

Chancellor Rachel Reeves appointed Tom Hayhoe in December 2024 to ensure mistakes of the past are never repeated, with this government already recouping almost £400 million of covid support cash.

Chancellor, Rachel Reeves said:

Leaving the front door wide open to fraud has cost the British taxpayer £10.9 billion — money that should have been funding our public services, supporting families, and strengthening our economy.

We have started returning this money to the British people and we will leave no stone unturned in rooting out the fraudsters who profited from pandemic negligence.

The government has already actioned many of the Commissioner’s early proposals. These include: 

• A voluntary repayment scheme, launched in September, giving claimants until 31 December to pay up. 
• Tougher sanctions powers through the Public Authorities (Fraud, Error and Recovery) Bill, which became law on 2 December. 
• Specialist fraud recovery teams to track down suspected fraudsters and recover taxpayer cash, from 2026.

Josh Simons, Cabinet Office Minister, said: 

We’re taking more action to bring fraudsters to justice and make the state the hardest possible target: giving investigators new powers to take on cases, using artificial intelligence to speed-up counter-fraud work, and setting up a repayment scheme to claw back money into the public purse.

The report highlights that counter fraud controls were ‘inadequate’ and only improved later in the pandemic. Hayhoe makes further recommendations to ensure the country is prepared for further crises that need an economic response from government –  emphasising that future preparation and robust controls will provide the best value for money for taxpayers.

The government will consider the report in full and respond early in the new year.

The press release issued by HM Treasury on 4 December 2025.

This is the first use of the Domestic Counter-Terrorism Regime to disrupt funding for Pro-Khalistan militant group Babbar Khalsa.

• Assets of the individual have been frozen, and they are banned from running UK companies. 
• A group supporting terrorism has also been hit by an asset freeze.

The UK has today announced an asset freeze and director disqualification against Gurpreet Singh Rehal (REHAL) who is suspected of belonging to organisations involved in terrorism in India. HM Treasury has also announced an asset freeze against a group, Babbar Akali Lehar, for promoting and supporting the same terrorist group.

HM Treasury assesses REHAL is involved in Babbar Khalsa and Babbar Akali Lehar’s terrorist activities, including promoting and encouraging, carrying out recruitment activities for, providing financial services to as well as supporting and assisting those organisations, including through purchasing weapons and other military materiel.

HM Treasury also assesses that Babbar Akali Lehar is associated with, and involved in, Babbar Khalsa’s terrorist activities by promoting and encouraging and carrying out recruitment activities for the group and itself.

All funds and economic resources in the UK owned, held or controlled by REHAL or Babbar Akali Lehar are now subject to an asset freeze. These designations will prevent all UK persons and entities from dealing with any funds or economic resources owned, held or controlled by either REHAL or Babbar Akali Lehar; or making funds, economic resources and financial services available to or for their benefit. This includes any of the entities they own or control, without a licence from HM Treasury or an applicable exception.

REHAL is also subject to director disqualification sanctions which prohibit him from acting as a director of a company or directly or indirectly taking part in or being concerned in the promotion, formation or management of a company.

Today’s action is the result of close collaboration between HM Treasury and policing partners, demonstrating the government’s determination to protect both national security and the peaceful communities affected by terrorism. 

Economic Secretary to the Treasury Lucy Rigby KC MP said:

We will not stand by while terrorists exploit Britain’s financial system. This landmark action shows we are prepared to use every tool at our disposal to choke off funding for terrorism – wherever it occurs and whoever is responsible. The UK stands firmly with peaceful communities against those who promote violence and hatred.

Further information 

• The Counter-Terrorism (Sanctions) (EU Exit) Regulations 2019 (the Regulations) allow HM Treasury to freeze assets and impose restrictions on individuals and entities suspected of involvement in terrorism. This helps prevent terrorist financing and protects the UK’s financial system from abuse. 
• From 4 December 2025, it is prohibited to: 
• Deal with funds or economic resources owned, held or controlled by Babbar Akali Lehar, Rehal, or his organisations.
• Make funds, financial services or economic resources available to them.
• Allow Rehal to act as a director or take part in company management.
• Violations carry penalties of up to seven years’ imprisonment on indictment, or civil penalties of up to £1 million or 50% of the breach value – whichever is greater. 
• The designation extends to organisations owned by Rehal namely; Saving Punjab CIC (company number: 13892609), Whitehawk Consultations Ltd (company number: 15662866) and unincorporated organisation/association Loha Designs.  

About Babbar Khalsa and Babbar Akali Lehar

Babbar Khalsa (which also uses the name Babbar Khalsa International) is a proscribed terrorist organisation. HM Treasury assesses Babbar Akali Lehar to be an “involved person” under the regulations.

The press release issued by HM Treasury on 24 November 2025.

250 Neighbourhood Health Centres to bring patient care closer to home and bring end to postcode lottery of healthcare access.

• £300 million of funding for NHS technology to support work of staff and boost their productivity.
• At the Autumn Budget the Chancellor will take the fair choices to cut NHS waiting times, cut national debt and cut the cost of living – continuing record investment into the NHS.

The Chancellor will double down on the government’s commitment of continuing to slash NHS waiting times in this week’s Budget – today confirming the investment for hundreds of new Neighbourhood Health Centres that will deliver healthcare direct to people’s doorsteps across the country.

At the Budget on Wednesday the Chancellor will set out how the government will take the fair choices to deliver on the country’s priorities to cut NHS waiting times, cut debt and cut the cost of living.

250 new health ‘one stop shops’ will bring the right local combination from GPs, nurses, dentists and pharmacists together under one roof to best meet the needs of the community, starting in the most deprived areas.

The centres will be part of a new Neighbourhood Health Service that will provide end-to-end care and tailored support – improving access to GPs, helping to prevent complications and avoid the frustration of being passed around the system. 

As the Neighbourhood Health Service moves more outpatient care out of hospitals, these centres will provide space for clinics in communities across the country – bringing an end to the postcode lottery of access to healthcare.

Patients will get treatment minutes from home instead of travelling miles to often hard to reach hospitals, so the NHS is organised around patients’ needs – rather than patients organising their lives around the NHS.

Neighbourhood health services will initially focus on improving access to general practice and supporting people with complex needs and long-term conditions – like diabetes and heart failure – in the areas of the highest deprivation. As the programme grows, it will expand to support other patients and priority cohorts.

With construction delivered by a dynamic new approach between the public and private sector, involving both repurposing current estate and new buildings, Neighbourhood Health Centres are a key part of the government’s plan to build an NHS fit for the future, one that fits around people’s lives and is an integral part of their community.

Chancellor of the Exchequer Rachel Reeves said:

At the Budget I’ll set out how we’ll deliver on the country’s priorities to cut NHS waiting times, cut debt and cut the cost of living.

We’re driving down waiting lists by bringing healthcare to patients’ doorsteps and turbocharging NHS productivity with cutting-edge technology.

Our record investment, combined with ruthless efficiency and reform, will deliver the better care and better outcomes our NHS patients deserve.

At the Budget, Rachel Reeves is also set to turbocharge the drive to get waiting lists down by funnelling millions of pounds into upgrading technology in the health system – improving productivity so nurses and doctors can focus on caring for patients and speeding up how quickly patients are treated.

£300 million of new capital investment will go into NHS tech, with new digital tools to be rolled out to NHS staff to support their work and improve productivity – by automating administrative tasks and providing swifter access to patient information, as well as ensuring better staff communication and better coordinated care. This will give nurses, physios, doctors, and other staff more time to care and less time on admin.

Productivity for hospital care such as A&E and surgery is up 2.4% this year, meaning patients are being seen and treated more quickly across the health service. Achieving 2% productivity growth will unlock £17 billion savings over the next three years to be reinvested into the NHS in England to improve patient care.

Health Minister, Karin Smyth said:

Neighbourhood Health Centres fundamentally reimagine how the NHS works – bringing care closer to home and making sure the NHS is organised around patients’ needs, not the other way round.

The Chancellor is rightly boosting investment in the NHS after we inherited a health service on its knees – with Lord Darzi’s investigation uncovering a £40 billion black hole. But funding will only get us so far. We need to use every measure available to us, which is why we’re leveraging in private investment to construct some of these centres, making the most of all expertise and every tool at our disposal.

Our new NHS Rebuild approach will give the health service the investment it needs, repurposing and building a new generation of Neighbourhood Health Centres across the country. It will go hand in hand with reform and efficiency – ensuring proper value for money for taxpayers.

The government has already announced sweeping reforms to the NHS with 18,000 posts cut and NHS England merged back into the Department of Health in order to focus investment at the frontline. The move, which is already underway, will, save over £1bn a year by the end of the Parliament – enough to fund 115,000 extra hip and knee operations.

This government has already made significant progress to get the NHS back on its feet, cutting the waiting list by over 200,000 – the biggest reduction in over 15 years – delivering an extra 5.2 million appointments and providing 135,000 more cancer diagnoses within the 28-day target. This progress is only possible with the funding the NHS has already seen from this government, which is built on further in this Budget.

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Further information

Ruth Rankine, director of primary care the NHS Confederation said:

The creation of a Neighbourhood Health Service has the potential to empower the NHS to deliver even more patient-first, joined-up care.

Working in partnership with local authorities, the VCSE sector and other partners is key to maximising the impact of these services, so it is welcome that the government is committed to ensuring local leaders have the flexibility to shape them to meet the specific needs of their communities. Bringing teams together under one roof can significantly improve services for the public and patients and provide more cohesive relationships between health and care professionals.

Innovative use of existing estate across the whole of the NHS as well as local authorities, with the potential for new private sector investment, will support the delivery of neighbourhood services and ensure patients can access them more easily closer to home.

• The NHS Neighbourhood Rebuild programme will deliver the Neighbourhood Health Centres through a mixture of refurbishments to expand and improve sites over the next three years, and new-build sites opening in the medium term.
• The new Neighbourhood Health Centres will be delivered through a combination of Public-Private Partnerships and public investment to bring together infrastructure expertise from different sectors to deliver new facilities on time and on budget – so patients across England get faster treatment in new and convenient buildings. By delivering through a combination of private and public investment the government will be able to build further evidence and compare different models of delivery whilst updated accounting treatment will ensure these are recognised up front in public accounts.
• Lord Darzi’s investigation in the summer of 2024 uncovered a £40 billion black hole in the NHS, and we have already uplifted NHS capital budgets by more than 20% over the SR period (23/24-29/30) to start addressing this. NHS England, NHS Providers, and NHS Confederation have all called for additional routes for infrastructure delivery to be made available to further support the repair and transformation of the NHS estate.
• The government’s new programme – NHS Neighbourhood Rebuild – will give the NHS the tools and opportunity it is asking for, repurposing and building a new generation of Neighbourhood Health Centres across the country that are and free at the point of use.
• More than 100 centres will be opened by 2030 including refurbishments to the Alfred Barrow Health Centre in Barrow-in-Furness, the Stockland Green and Summerfield Primary Care Centres in Birmingham, the Jubilee Gardens Centre in Ealing .
• This government will only supplement public investment with private investment where it provides value for money to the taxpayer. This new PPP model will learn lessons from past and current PPP models, and include improvements so that taxpayers get proper value for money.
• Public-private partnership programmes are used internationally, to support delivery of infrastructure.

The press release issued by HM Treasury on 24 November 2025.

Leading lawyer, Catherine Howard, appointed to advise Chancellor on the next phase of planning and infrastructure reforms as she vows to ‘do what it takes to get Britain building’.

• Extra expertise at the Treasury to help government kickstart economic growth to deliver an economy that works for working people – and rewards working people.
• Comes as part of government commitment to create conditions to attract long-term private sector investment into UK infrastructure, including landmark planning reforms and backing of a third runway at Heathrow

Leading planning lawyer Catherine Howard has been appointed to advise Chancellor Rachel Reeves to help drive through the next phase of the government’s planning reforms with new Housing Secretary, Steve Reed, to ‘get Britain building.’

The Chancellor has vowed that the Autumn Budget will focus on building an economy that works for working people by taking action to reduce inflation, keep a grip on the public finances and kickstart economic growth.

With the Planning and Infrastructure Bill going through Parliament and barriers to private investment being torn down, the Chancellor is pushing ahead to create the conditions to secure vital long-term investments in UK infrastructure and support Britain’s economic renewal.

Specialising in major infrastructure projects, Catherine is currently a Partner at Herbert Smith Freehills Kramer LLP, with expertise in Development Consent Orders which provide planning permission for nationally significant infrastructure projects, environmental regulation, and Judicial Reviews.

Chancellor of the Exchequer, Rachel Reeves, said:

I am determined we do what it takes to get Britain building, unlock private investment and deliver an economy that works for working people – and rewards working people.

I look forward to working with Catherine to deliver this.

Catherine Howard said:

It is a privilege to take on this position as the Chancellor’s Infrastructure and Planning Adviser, helping the government to achieve a step-change in how we deliver major infrastructure and housing.

With the right framework in place, good decision-making can enable swift progress – improving our natural environment and supporting the government’s Growth Mission. The Planning and Infrastructure Bill makes major strides towards this goal. I look forward to working with stakeholders to consider how we build on this important agenda.

Catherine was initially appointed to work up to four days a week on an unpaid basis until the Autumn Budget. Catherine’s term has been extended until the 1 January 2026 to continue to support the governments planning agenda. Her terms of appointment remain unchanged.

Established processes for the declaration and management of interests have been followed in respect of this appointment. Catherine has confirmed she has not taken part in any political activity in the last five years.

The press release issued by HM Treasury on 13 November 2025.

Megan Greene has been reappointed as an external member of the Monetary Policy Committee for a second term.

• Megan Greene has been reappointed as an external member of the Monetary Policy Committee (MPC) by the Chancellor of the Exchequer, Rachel Reeves.
• Her three-year term was due to end on 4 July 2026. Following her appointment for a second term, Megan will continue to hold the post until 4 July 2029.

The Chancellor of the Exchequer, Rachel Reeves, said:

I am pleased to reappoint Megan Greene to the MPC. Her reappointment provides welcome stability at a crucial time, and I fully support the Bank of England in bringing inflation down.  I am confident that Megan’s skills and background in financial markets will remain an asset to the MPC.

Governor of the Bank of England, Andrew Bailey, said:

I welcome the reappointment of Megan Greene to the MPC. Megan has made a significant contribution to the Committee’s work at an important time. I’m pleased it will continue to benefit from her insight and expertise in the years ahead.

About Megan Greene

Megan is an external member of the MPC and Senior Fellow at the Watson Institute, Brown University, as well as at Chatham House. She teaches at London Business School and advises the San Francisco Federal Reserve, Rebuilding Macroeconomics, and Econofact. She is also affiliated with the Council on Foreign Relations and the Bretton Woods Committee.

Previously, Megan was Global Chief Economist at Kroll and at John Hancock Asset Management, a Senior Fellow at Harvard Kennedy School, and a Financial Times columnist. She has served on the International Advisory Committee of the Hong Kong Stock Exchange.

She holds a BA in Political Economy from Princeton and an MSc in International Relations from the University of Oxford (Nuffield College).

About the Monetary Policy Committee

The independent MPC of the Bank of England makes decisions on the operation of monetary policy. It comprises the Governor of the Bank of England, 3 Deputy Governors, the Bank of England’s Chief Economist, and four external members. External members, appointed by the Chancellor, may serve up to two three-year terms.

The appointment of external members to the MPC is designed to ensure that the Committee benefits from thinking and expertise in addition to that gained inside the Bank. Each member of the MPC has expertise in the field of economics and monetary policy. They are independent and do not represent particular groups or areas.

About the appointment process

Reappointments are not automatic, and each case is considered on its own merits. This reappointment was made by the Chancellor of the Exchequer, in line with the requirements of the Governance Code for Public Appointments.

Megan Greene confirmed she has not engaged in any political activity in the last five years.