Question to the HM Treasury:

To ask Her Majesty’s Government when they expect the application for EU state aid clearance for an enlarged social investment tax relief scheme, announced in the Autumn Statement in 2014, to be given clearance from the European Commission; and why there has been a delay of over two years.

At Autumn Statement 2016 the Government announced the enlargement of Social Investment Tax Relief. From 6 April 2017 the investment limit will increase to £1.5 million for enterprises aged up to seven years old. Other changes will ensure the scheme is well targeted, and the relief will be reviewed within two years of its enlargement. The scheme is the first of its kind in Europe and therefore discussions with the European Commission on the nature of the State aid issues have taken some time to conclude.