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1564173
registered interest false more like this
date less than 2023-01-06more like thismore than 2023-01-06
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Business: Investment 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, with reference to the Spring Statement Tax Plan published on 23 March 2022, if he will publish a summary of the discussions he has had with businesses on investment incentives. more like this
tabling member constituency Ealing North more like this
tabling member printed
James Murray more like this
uin 117812 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2023-01-11more like thismore than 2023-01-11
answer text <p>There are currently no plans to publish a summary of the engagement following the Spring Statement. Any changes to tax policy would be a matter for future Budgets and it would not be appropriate to comment on tax measures at this stage of the policy development cycle.</p> more like this
answering member constituency Louth and Horncastle more like this
answering member printed Victoria Atkins more like this
question first answered
less than 2023-01-11T16:38:38.747Zmore like thismore than 2023-01-11T16:38:38.747Z
answering member
4399
label Biography information for Victoria Atkins more like this
tabling member
4797
label Biography information for James Murray more like this
1419142
registered interest false more like this
date less than 2022-02-02more like thismore than 2022-02-02
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Business: Investment 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 steps his Department is taking to encourage businesses to invest. more like this
tabling member constituency Stockton South more like this
tabling member printed
Matt Vickers more like this
uin 117105 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-02-10more like thismore than 2022-02-10
answer text <p>Under the super-deduction, from April 2021 until the end of March 2023, companies can claim a 130% capital allowance on qualifying plant and machinery investments. It is the biggest two-year business tax cut in modern British history.</p><p> </p><p>At Budget, the Government announced that the temporary £1 million Annual Investment Allowance level would be extended until the end of March 2023.</p><p> </p><p>These measures provide more upfront support to help businesses across the UK invest and grow.</p> more like this
answering member constituency Faversham and Mid Kent more like this
answering member printed Helen Whately more like this
question first answered
less than 2022-02-10T14:53:00.32Zmore like thismore than 2022-02-10T14:53:00.32Z
answering member
4527
label Biography information for Helen Whately more like this
tabling member
4844
label Biography information for Matt Vickers more like this
1418403
registered interest false more like this
date less than 2022-01-31more like thismore than 2022-01-31
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Business: Investment 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 steps his Department is taking to encourage businesses to invest. more like this
tabling member constituency Crewe and Nantwich more like this
tabling member printed
Dr Kieran Mullan more like this
uin 114987 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2022-02-08more like thismore than 2022-02-08
answer text <p>Under the super-deduction, from April 2021 until the end of March 2023, companies can claim a 130% capital allowance on qualifying plant and machinery investments. It is the biggest two-year business tax cut in modern British history.</p><p> </p><p>At Budget, the Government announced that the temporary £1 million Annual Investment Allowance level would be extended until the end of March 2023.</p><p> </p><p>These measures provide more upfront support to help businesses across the UK invest and grow.</p> more like this
answering member constituency Faversham and Mid Kent more like this
answering member printed Helen Whately more like this
question first answered
less than 2022-02-08T13:43:45.91Zmore like thismore than 2022-02-08T13:43:45.91Z
answering member
4527
label Biography information for Helen Whately more like this
tabling member
4860
label Biography information for Dr Kieran Mullan more like this
1342050
registered interest false more like this
date less than 2021-06-29more like thismore than 2021-06-29
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Business: Investment remove filter
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what assessment they have made of the levels of business investment for (1) the remainder of 2021, and (2) 2022. more like this
tabling member printed
Lord Hay of Ballyore more like this
uin HL1527 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2021-07-12more like thismore than 2021-07-12
answer text <p>As well as addressing the immediate challenges of COVID-19, the Government recognises the importance of acting now to create the conditions for an investment-led recovery driven by private sector growth.</p><p> </p><p>Stimulating private sector investment will create jobs, drive innovation, and revitalise local areas and regions across the UK. This is central to the Government’s plan to secure a strong recovery and the Budget announced a package of measures to achieve this, including the new super-deduction to support business investment.</p><p> </p><p>The Office for National Statistics, as part of the Quarterly National Accounts, published revised outturn figures for business investment in Q1 2021. In real and seasonally-adjusted terms, business investment fell by 10.7 per cent (£5.4 billion) in Q1 2021 compared to the previous quarter, or by 16.9 per cent (£9.2 billion) compared to Q1 2020.</p><p>At Spring Budget 2021, the Office for Budget Responsibility (OBR), which produces forecasts on the economy and public finances, revised upwardly the medium-term business investment outlook, expecting a return to its pre-crisis level in Q2 2022.</p><p> </p><p>In the March 2021 Economic and Fiscal Outlook, the OBR highlighted the potential impact of the super deduction:</p><p> </p><p>“As a temporary measure, it provides companies with a very strong incentive to bring forward investment from future periods to take advantage of the temporarily much more generous allowances. We assume that at its peak in 2022-23, this will raise the level of business investment by around 10 per cent (equivalent to around £20 billion a year) as spending is brought forward.”</p>
answering member printed Lord Agnew of Oulton more like this
question first answered
less than 2021-07-12T15:29:48.467Zmore like thismore than 2021-07-12T15:29:48.467Z
answering member
4689
label Biography information for Lord Agnew of Oulton more like this
tabling member
4352
label Biography information for Lord Hay of Ballyore more like this
1144183
registered interest false more like this
date less than 2019-09-03more like thismore than 2019-09-03
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Business: Investment remove filter
house id 2 more like this
legislature
25277
pref label House of Lords more like this
question text To ask Her Majesty's Government what assessment they have made of the Office for Budget Responsibility's (OBR) model for forecasting business investment, in the light of business investment growth consistently falling below OBR forecasts and remaining “significantly weaker than expected” according to its Economic and Fiscal Outlook, published in March. more like this
tabling member printed
Lord Mendelsohn more like this
uin HL17671 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-09-09more like thismore than 2019-09-09
answer text The independent Office for Budget Responsibility (OBR) publishes an annual Forecast Evaluation Report, in which they compare their forecasts to subsequent published data, explain any forecast errors, and identify lessons for future forecasts. more like this
answering member printed The Earl of Courtown more like this
question first answered
less than 2019-09-09T15:37:41.75Zmore like thismore than 2019-09-09T15:37:41.75Z
answering member
3359
label Biography information for The Earl of Courtown more like this
tabling member
4286
label Biography information for Lord Mendelsohn more like this
1109349
registered interest false more like this
date less than 2019-04-03more like thismore than 2019-04-03
answering body
Treasury more like this
answering dept id 14 more like this
answering dept short name Treasury more like this
answering dept sort name Treasury remove filter
hansard heading Business: Investment 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 steps he plans to take to increase business investment in the UK after the UK leaves the EU. more like this
tabling member constituency Haltemprice and Howden more like this
tabling member printed
Mr David Davis more like this
uin 240505 more like this
answer
answer
is ministerial correction false more like this
date of answer less than 2019-04-12more like thismore than 2019-04-12
answer text <p>The Government continues to work towards leaving the EU with a deal, which will allow us to honour the referendum, while also protecting jobs and our economy. The government is committed to providing the right economic environment for businesses to invest and grow.</p><p> </p><p>Businesses will also benefit from recently announced tax measures such as the introduction of a new allowance for the construction costs of new qualifying non-residential structures and buildings, which will provide billions of pounds of additional relief for UK businesses. The Government has also increased the Annual Investment Allowance from £200,000 to £1 million for two years, significantly increasing the amount of relief businesses receive on qualifying investment in the first year.</p><p> </p><p>Additionally, our modern Industrial Strategy sets out a clear plan for how we can boost productivity throughout the UK, including increased public investment in infrastructure and R&amp;D. At Budget 2018 we increased the size of the National Productivity Investment Fund to £37 billion and since 2010 there has been £600 billion of capital investment including in roads, rail, digital and skills.</p>
answering member constituency Newark more like this
answering member printed Robert Jenrick more like this
question first answered
less than 2019-04-12T16:39:13.37Zmore like thismore than 2019-04-12T16:39:13.37Z
answering member
4320
label Biography information for Robert Jenrick more like this
tabling member
373
label Biography information for Sir David Davis more like this