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1657768
registered interest false more like this
date less than 2023-09-04more like thismore than 2023-09-04
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what fiscal steps he is taking to improve productivity. more like this
tabling member constituency Slough more like this
tabling member printed
Mr Tanmanjeet Singh Dhesi more like this
uin 197498 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2023-09-12more like thismore than 2023-09-12
answer text <p>The Chancellor has outlined his plans to boost private sector productivity and long-term economic growth with a package of measures under the ‘four Es’ of economic growth: Employment, Enterprise, Education, and Everywhere.</p><p> </p><p>The Government has introduced several fiscal measures to increase productivity. For example, we have introduced full expensing – giving the UK the most generous capital allowances regime in the OECD on a Net Present Value basis to increase business investment and boost labour productivity. We increased the R&amp;D Expenditure Credit relief rate to 20% – the joint highest uncapped headline rate of R&amp;D tax relief in the G7 for large companies.</p><p> </p><p>We are supporting our world leading green industries. For example, up to £20bn of funding has been provided for Carbon Capture, Utilisation and Storage, and we are working with investors through our Automotive Transformation Fund to build a globally competitive electric vehicle supply chain in the UK. Furthermore, the Investment Zones programme will catalyse 12 high potential knowledge-intensive growth clusters across the UK.</p><p> </p><p>We are also ensuring our labour market is more productive through our investment in skills and the Chief Secretary is currently leading a programme across government to identify the most ambitious ways to improve productivity in the public sector.</p><p>.</p>
answering member constituency Grantham and Stamford more like this
answering member printed Gareth Davies more like this
question first answered
less than 2023-09-12T12:36:54.35Zmore like thismore than 2023-09-12T12:36:54.35Z
answering member
4850
label Biography information for Gareth Davies more like this
tabling member
4638
label Biography information for Mr Tanmanjeet Singh Dhesi more like this
1520400
registered interest false more like this
date less than 2022-10-11more like thisremove minimum value filter
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what analysis he has commissioned on potential productivity of the UK. more like this
tabling member constituency Gordon more like this
tabling member printed
Richard Thomson more like this
uin 61385 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-19more like thismore than 2022-10-19
answer text <p>Potential productivity is an estimated economic concept that measures the maximum sustainable level of output that can be produced per hour worked across an economy. Where this estimated level sits relative to actual productivity data, as measure by the ONS, depends on how intensely factors of production are being used at a given time.</p><p> </p><p>The ONS publish quarterly updates on official UK productivity statistics and analysis of UK productivity.</p><p> </p><p>The Office for Budget Responsibility’s Economic and Fiscal Outlook also includes their outlook for potential output and productivity. The Chancellor has brought forward the OBR forecast date to 31 October. This will provide an in-depth assessment of the economy and public finances including a forecast for productivity.</p><p> </p><p>The Government continually monitors and assesses economic developments, including around productivity, to consider their impact on businesses and households. Boosting productivity growth is central to raising the UK’s economic growth, as part of the Growth Plan 2022.</p><p> </p>
answering member constituency Kensington more like this
answering member printed Felicity Buchan more like this
grouped question UIN 61386 more like this
question first answered
less than 2022-10-19T14:53:42.12Zmore like thismore than 2022-10-19T14:53:42.12Z
answering member
4821
label Biography information for Felicity Buchan more like this
tabling member
4796
label Biography information for Richard Thomson more like this
1520401
registered interest false more like this
date less than 2022-10-11more like thisremove minimum value filter
answering body
Treasury more like this
answering dept id 14 remove filter
answering dept short name Treasury more like this
answering dept sort name Treasury more like this
hansard heading Productivity remove filter
house id 1 more like this
legislature
25259
pref label House of Commons more like this
question text To ask the Chancellor of the Exchequer, what assessment he has made of the potential productivity of the UK. more like this
tabling member constituency Gordon more like this
tabling member printed
Richard Thomson more like this
uin 61386 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-10-19more like thismore than 2022-10-19
answer text <p>Potential productivity is an estimated economic concept that measures the maximum sustainable level of output that can be produced per hour worked across an economy. Where this estimated level sits relative to actual productivity data, as measure by the ONS, depends on how intensely factors of production are being used at a given time.</p><p> </p><p>The ONS publish quarterly updates on official UK productivity statistics and analysis of UK productivity.</p><p> </p><p>The Office for Budget Responsibility’s Economic and Fiscal Outlook also includes their outlook for potential output and productivity. The Chancellor has brought forward the OBR forecast date to 31 October. This will provide an in-depth assessment of the economy and public finances including a forecast for productivity.</p><p> </p><p>The Government continually monitors and assesses economic developments, including around productivity, to consider their impact on businesses and households. Boosting productivity growth is central to raising the UK’s economic growth, as part of the Growth Plan 2022.</p><p> </p>
answering member constituency Kensington more like this
answering member printed Felicity Buchan more like this
grouped question UIN 61385 more like this
question first answered
less than 2022-10-19T14:53:42.167Zmore like thismore than 2022-10-19T14:53:42.167Z
answering member
4821
label Biography information for Felicity Buchan more like this
tabling member
4796
label Biography information for Richard Thomson more like this