All 1 Debates between Steve Brine and Marco Longhi

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Debate between Steve Brine and Marco Longhi
Tuesday 1st February 2022

(2 years, 10 months ago)

Commons Chamber
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Steve Brine Portrait Steve Brine (Winchester) (Con)
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3. What steps his Department is taking to encourage businesses to invest.

Marco Longhi Portrait Marco Longhi (Dudley North) (Con)
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13. What steps his Department is taking to encourage businesses to invest.

Lucy Frazer Portrait The Financial Secretary to the Treasury (Lucy Frazer)
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The Chancellor has brought forward a number of measures to encourage business investment, and I shall mention just two. 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. That is the biggest two-year business tax cut in modern British history. We have also extended the temporary £1 million annual investment allowance level until the end of March 2023.

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