Business: Investment

(asked on 31st January 2022) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to encourage businesses to invest.


Answered by
Helen Whately Portrait
Helen Whately
Minister of State (Department of Health and Social Care)
This question was answered on 8th February 2022

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. It is the biggest two-year business tax cut in modern British history.

At Budget, the Government announced that the temporary £1 million Annual Investment Allowance level would be extended until the end of March 2023.

These measures provide more upfront support to help businesses across the UK invest and grow.

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