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<p>The Chancellor is committed to ensuring the UK tax system is one of the most competitive
amongst major economies.</p><p> </p><p>The Government has announced full expensing
for investments in qualifying plant and machinery for the next three years, permanently
set the Annual Investment Allowance at its highest ever level of £1 million to significantly
boost business investment, and has provided further support for businesses’ R&D
spending to promote the conditions for enterprise to succeed.</p><p><strong> </strong></p><p>The
Chancellor will look to cut business taxes further when it is responsible to do so.</p>
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