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1064051

registered interest
date	19/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what steps he has taken to increase the productivity of the UK economy.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	223249
answer	answer is ministerial correction date of answer 22/02/2019 answer text <p>Autumn Budget announced the next steps we are taking to boost productivity. This includes increasing the National Productivity Investment Fund to more than £37bn to fund important investments in our infrastructure. We are also setting up the National Roads Fund which will provide vital improvements to our road network, piloting new approaches to rural fibre rollout, and supporting new technologies such as artificial intelligence.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 22/02/2019 13:43:02 answering member 4320 label Biography information for Robert Jenrick
tabling member	1586 label Biography information for Adam Afriyie

1064082

registered interest
date	19/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what assessment he has made of recent trends in economic productivity in the UK.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	223482
answer	answer is ministerial correction date of answer 22/02/2019 answer text <p>The only sustainable way to raise wages, boost living standards, and increase growth is to boost UK productivity.</p><p> </p><p>Since 2010 we have provided over half a trillion pounds in capital investment, increased investment in skills, and reduced taxes for businesses. At the Autumn Budget, we took further action to increase productivity.</p><p> </p><p>Productivity grew by 0.2% in the last quarter (Q4 2018) and is now 1.9% above its pre-crisis peak. Slow productivity growth since the crisis has not been a phenomenon exclusive to the UK, but across the G7.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 22/02/2019 13:45:12 answering member 4320 label Biography information for Robert Jenrick
tabling member	1586 label Biography information for Adam Afriyie

1064083

registered interest
date	19/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Productivity
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what proportion of productivity growth in the last five years can be attributed to financial technology.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	223494
answer	answer is ministerial correction date of answer 27/02/2019 answer text <p>The government has not made an assessment of the proportion of productivity growth in the last five years that is attributable to financial technology.</p><p> </p><p>However, the Government has taken significant steps to increase competition in financial services, including creating an environment in which Fintech firms can grow and compete with incumbents. The Competition and Market Authority has led the Open Banking initiative, bringing more competition and innovation to financial services. The FCA has also established the Innovation Hub and Regulatory Sandbox to support Fintech, both of which are held up as global examples of best practice. Further information on the Government’s efforts to promote FinTech can be found in the FinTech Sector Strategy, published in March 2018.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 27/02/2019 16:00:31 answering member 4320 label Biography information for Robert Jenrick
tabling member	1586 label Biography information for Adam Afriyie

1064085

registered interest
date	19/02/2019
answering body	Treasury
answering dept id	14
answering dept short name	Treasury
answering dept sort name	Treasury
hansard heading	Foreign Investment in UK
house id	1
legislature	25259 pref label House of Commons
question text	To ask the Chancellor of the Exchequer, what recent steps he has taken to increase the level of Foreign Direct Investment into the UK.
tabling member constituency	Windsor
tabling member printed	Adam Afriyie
uin	223496
answer	answer is ministerial correction date of answer 26/02/2019 answer text <p>Since 2010 we have significantly lowered the headline rate of Corporation Tax from 28% down to 19% today – the lowest in the G20, with further cuts to 17% legislated by 2020.</p><p> </p><p>We have also created a world-leading offer on creative sector tax reliefs, given significant support for R&amp;D investment through the tax system, and introduced the Patent Box regime to attract international investment in intellectual property to the UK.</p><p> </p><p>These steps have helped to create a highly competitive and FDI-friendly business environment.</p> answering member constituency Newark answering member printed Robert Jenrick question first answered 26/02/2019 15:18:46 answering member 4320 label Biography information for Robert Jenrick
tabling member	1586 label Biography information for Adam Afriyie