Asked by: David Rutley (Conservative - Macclesfield)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, what fiscal steps he is taking to encourage business investment in the UK.
Answered by Jane Ellison
The Government has established the National Productivity Investment Fund (NPIF) to deliver additional spending in the areas that are key to boosting productivity and encouraging investment.
The Government has also taken steps to ensure that Britain has a competitive tax system that encourages innovation and business investment. These include reducing corporation tax to 17%, the lowest rate in the G20, by 2020 and setting the Annual Investment Allowance at £200,000, its highest ever permanent level.