Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the international competitiveness of the tax regime.

The UK has an internationally competitive tax system.

The Government published its Corporate Tax Roadmap at Autumn Budget 2024, which included a commitment to ensuring a competitive and sustainable main rate of corporation tax by capping it at 25 per cent for the duration of this parliament. The current rate of corporation tax is the lowest in the G7, and this is supplemented by generous business investment tax reliefs which directly support investment, including Capital Allowances, R&D tax reliefs, and the Patent Box regime.