(1 year, 2 months ago)
Commons ChamberI completely agree about the importance of motorsport in this country, and I pay tribute to my hon. Friend for his commitment and hard work in this area. We already support sustainable and synthetic fuels under the renewable transport fuel obligation scheme. Tax policy, as he knows, is a matter for the Treasury, but I will of course work with him and ensure that his ideas are shared across Government.
As the hon. Member will know, the Commissioner for Public Appointments is looking into this matter, and it would not be appropriate to comment until it has published its full report.
(1 year, 3 months ago)
Commons ChamberI would be delighted to do so. My hon. Friend is a great ambassador for his constituency, always pushing and promoting the great work that is being done.
According to Tech Nation, Slough, which is the silicon valley of the UK, has experienced a 536% increase in the formation of digital start-ups in the last decade. Given that artificial intelligence is of strategic importance to the UK, why have the Government cut research and development tax credits for small and medium-sized enterprises?
The hon. Gentleman will know that a review of R&D tax credits is being conducted. The Chancellor will be speaking later, but because of Tech Nation and the work that has been done over the last decade, we have a great tech ecosystem to build on.