Business Investment Fiscal Measures 2024-02-06
2024-02-06
TAGS
Response quality
Questions & Answers
Q1
Direct Answer
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Context
The MP raises concerns about fiscal measures to boost business investment, citing the Chancellor's package from autumn statement.
What fiscal steps is his Department taking to help increase the level of business investment?
At the autumn statement, I announced an ambitious growth package which will boost business investment by about £20 billion a year. We are making full expensing permanent, which was welcomed as a game changer that will fire up the British economy.
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Assessment & feedback
Response accuracy
Q2
Partial Answer
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Context
The MP discusses the impact of business rates on small businesses, especially in post-covid context.
Does the Chancellor have any measures to support those who are struggling with a lack of income to pay business rates following covid?
In the autumn statement, we introduced the 75% discount for retail, hospitality and leisure to address business rate pressures. The cuts were made possible because we did not embark on a spending spree of £28 billion a year, unlike Labour's policy.
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Assessment & feedback
Specific measures addressing struggling businesses without income were not directly provided.
Labour'S Policy Criticism
Response accuracy
Q3
Direct Answer
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Context
The MP expresses concerns about the current state of businesses in Huddersfield, particularly regarding investment and job creation.
Will the Chancellor provide a stimulus to make people invest and create jobs?
We announced a £4.5 billion manufacturing strategy in the autumn statement to further support our manufacturers, making them the best in the world.
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Assessment & feedback
Response accuracy
Q4
Partial Answer
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Context
The MP suggests cutting VAT for the tourism and hospitality sector to help economic recovery.
Will the Chancellor consider cutting VAT for the tourism and hospitality sector?
We will keep all measures under review ahead of the Budget, but no specific commitment was made regarding cutting VAT for the tourism and hospitality sector.
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Assessment & feedback
No specific commitment to cut VAT was provided.
Measures Under Review
Response accuracy
Q5
Partial Answer
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Context
The MP raises concerns about the tax burden on small businesses, particularly VAT affecting business investment.
Will the Chancellor look at cutting VAT to 10% to support local economies?
I will always look at anything that helps businesses grow, but it is slightly incongruous to argue for lower taxes when the SNP has given Scotland the highest taxes in the UK.
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Assessment & feedback
Specific measures to cut VAT were not provided, criticism of SNP policy was introduced.
Criticism Of Snp
Response accuracy