Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether the super deduction tax allowance announced in Budget 2021 is intended to increase investment in (a) new technologies, (b) sustainability and (c) skills development

The 130% super-deduction for main rate plant and machinery assets, and 50% first-year allowance for special rate (including long-life) plant and machinery assets, both greatly enhance the incentive for companies to invest. Many of the latest green technologies, including solar panels, wind turbines and electric vehicle charging points, qualify for the reliefs. Expenditure on the learning and development of staff does not qualify for the super-deduction but is already an allowable expense for tax purposes.