Kit Malthouse
Main Page: Kit Malthouse (Conservative - North West Hampshire)Department Debates - View all Kit Malthouse's debates with the HM Treasury
(8 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
Our intention is to use the principles of the Barnett formula to make sure that the devolved Administrations, not only in Scotland, but in Northern Ireland, do get the resources they need. Of course we would urge them then to spend those resources on training, but that is ultimately a matter for them and the people to whom they are accountable.
Kit Malthouse (North West Hampshire) (Con)
Given the importance of family investment in start-up businesses, particularly science and technology businesses, where a leap of faith is often required, will the Chancellor, in the Budget, consider lifting the restrictions on family investment under the enterprise investment scheme and the seed enterprise investment scheme, so that mum and dad can invest alongside everybody else on the same terms?
Mr Osborne
I am happy to take that as a Budget representation. I am sure my hon. Friend will understand that if he turns up on Budget day, he will see my response to it. The SEIS and EIS have been enormously successful. We have to make sure that the rules are tight enough so that they are supporting the kind of entrepreneurial activity we want, rather than being used as a vehicle for tax avoidance. I think we have got the balance right so far, but I am aware of good, positive proposals that people have put forward to improve it.