Recommendation 9

HMRC also told us that in the 2021 Spending Review HM Treasury awarded it additional funding of £40 million, £60 million and £90 million over the three years from 2022–23, to undertake “spend to raise” work. However, it could not tell us whether it would use this funding for additional debt management work, saying it was still discussing how the money would be used with HM Treasury.22 We think there is a strong value for money case for increasing investment in this area.23