HM Treasury

HSBC's senior executives have apologised to a committee of MPs for the failings in its Swiss private banking arm which meant clients avoided paying millions in tax.

The UK government is to sell another tranche of shares in Lloyds Banking Group as it moves to return the bank to private ownership.

An independent review of the Money Advice Service (MAS) will recommend it cuts more than half its staff and reduce its budget by as much as 38%, according to a report.

The Bank of England (BoE) and HM Treasury have announced a one-year extension to the Funding for Lending Scheme (FLS), with small to medium-sized businesses to continue to be the primary beneficiaries.

Chairman of the Treasury Committee (TC) Andrew Tyrie has again called for the abolition of the Money Advice Service (MAS), in a series of letters published on 30 November.

The government is seeking the public's views on what it would like to see in the Autumn Statement 2014, which will take place on 3 December.

The Treasury expects to net an extra £3.9bn between 2015 and 2020 as a result of tax reforms designed to facilitate the Budget freedoms.

The Treasury wants to hear from financial advisers as it published a call for evidence as part of its review into the role played by the Money Advice Service (MAS).

The Treasury is expected to appeal to the UK's biggest banks to increase competition in lending to small and medium-sized businesses.

The insurance industry is capable of cost effectively delivering the Chancellor's ‘retirement advice for all' pledge, but passing the "impartiality test" would be challenging, Otto Thoresen told MPs.