Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what estimate he has made of the economic impact of the super-deduction on business investment in (a) 2021-22 and (b) 2022-23.

Since the super-deduction took effect in the first quarter of 2021, business investment has gone up by 9 per cent year on year. In the latest Economy and Fiscal Outlook, the Office for Budget Responsibility have said that the super-deduction and the easing of global supply bottlenecks means they still expect historically high growth in business investment over 2022.

A full evaluation of the effectiveness of the super-deduction in stimulating business investment in both 2021-22 and 2022-23 will require HMRC to hold corporate tax returns for the financial years 2021-22 and 2022-23. Any externally commissioned evaluation will be published in the usual way, in line with the Government Social Research Publication Protocol.