Spending Review 2020 and OBR Forecast Debate

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Department: HM Treasury

Spending Review 2020 and OBR Forecast

Richard Fuller Excerpts
Wednesday 25th November 2020

(3 years, 4 months ago)

Commons Chamber
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Rishi Sunak Portrait Rishi Sunak
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Yes, Mr Deputy Speaker, I think it was something about the Eden Project. I would be very happy to meet my hon. Friend to discuss his ambitions for his area and this project. I know he has put a lot of thought and energy into it, as has his community, and I very much hope we can make progress in the coming years.

Richard Fuller Portrait Richard Fuller (North East Bedfordshire) (Con)
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In his statement, my right hon. Friend said:

“The spending announced today is secondary to the courage, wisdom, kindness and creativity it unleashes. These are the incalculable but essential parts of our future, and they cannot be mandated or distributed by Government.”

He is right on that, and the private sector and businesses will respond to what he has announced today. When it comes to the consideration of taxes, will he look to protect the incentives for those who invest and grow such businesses?

Rishi Sunak Portrait Rishi Sunak
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I thank my hon. Friend for his comment, as he is absolutely right, and from his own business experience he knows this well. He will know that one thing we do to incentive entrepreneurship through the tax system is our world-leading enterprise investment scheme and seed enterprise investment scheme programme, which provides significant support to private investors to help fund new businesses. We have expanded that scheme over time. I know he has thoughts on it, and I look forward to hearing them.