Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she plans to extend full expensing to leased assets to support small and medium-sized transport businesses that lease vehicles.

The UK has one of the most generous and competitive capital allowances regimes in the world and is top of the rankings of OECD countries for plant and machinery capital allowances.

The Annual Investment Allowance allows both incorporated and unincorporated businesses to deduct the entire cost of investment in both main and special rate assets in one go, up to £1 million per year, including assets bought for leasing or hiring.