HM Treasury is the government’s economic and finance ministry. Its work reaches everyone in the UK and includes public spending and financing, setting the strategy for sustainable economic growth, and strategic oversight of the UK tax system. It plays an important role on the international stage through elements of trade and customs policy, and international cooperation with groups such as the G7 and G20.

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HM Treasury spent over £38.4 billion in 2023-24 to maintain control over public spending, set the direction of the UK’s economic policy, and work to achieve sustainable economic growth.

This report provides an introduction to HM Treasury and our examination of its spending and performance. It is intended to support the Treasury Committee and Members across the House in their examination of HM Treasury.

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