Independent Review of the Loan Charge
The question
To ask the Chancellor of the Exchequer, pursuant to the Answer of 23 June 2025 to Question 60696, what assessment she has made of the potential implications for her policies on the independence of the Independent Review of the Loan Charge of comments made by Ray McCann in August 2019 on his level of independence.
Answered by Dan Tomlinson
At Autumn Budget 2024, the Government committed to holding an independent review of the Loan Charge to bring this matter to a close for those affected. The review has now concluded and the Government will respond at Budget.
Ray McCann was suggested as a potential reviewer by one of the Loan Charge campaigners. During the review, Mr McCann was supported by a team of officials who had not previously worked for the Treasury or HMRC. The reviewer decided how to conduct the review and had the final say on what was included in his report.
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