Commons Sense

House of Commons · Ministers' Questions

Business Investment

Tuesday 19 December 2023 · 2 questions

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 1 Not answered 0

Key points

  • The Chancellor announced a growth package to boost business investment by making full expensing permanent.
  • The package includes reforms to the planning system and measures to speed up electricity grid connection times.
  • The ceramics sector receives free allowances under the emissions trading scheme to mitigate carbon leakage risks.

Topics (select to filter)

Questions & Answers

Q1 Jack Brereton Con
Economy Business & Trade
Context

The MP is concerned about the level of business investment and inquires about steps being taken by the Department to boost it.

Question

What steps his Department is taking to help increase the level of business investment. The Chancellor announced an ambitious growth package that will boost business investment by making full expensing permanent, removing barriers to business investment, reforming our inefficient planning system, speeding up electricity grid connection times and making £4.5 billion available for strategic manufacturing sectors over the next five years.

Answer from Gareth Davies

In the autumn statement, the Chancellor announced an ambitious growth package that will boost business investment by making full expensing permanent, removing barriers to business investment, reforming our inefficient planning system, speeding up electricity grid connection times and making £4.5 billion available for strategic manufacturing sectors over the next five years.

Answered
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Q2 Jack Brereton Con
Economy Energy Business & Trade
Context

The MP thanks the Minister for the previous response and notes that full expensing will help businesses invest in plant, machinery, and technology. He specifically asks about exempting the ceramics sector from the emissions trading scheme to provide breathing space for investment.

Question

I thank the Minister for that response. It is very welcome to see full expensing, which will help businesses to invest in the plant and machinery and the technology that are needed. It would also help the ceramics sector, in particular, if it were exempted from the emissions trading scheme. Will my hon. Friend speak to the Chancellor about the possibility of exempting the ceramics sector from the ETS, which would help to give the sector the breathing space to invest in productivity and energy efficiency gains?

Answer from Gareth Davies

I can think of few greater champions for Stoke's ceramics sector than my hon. Friend. We recognise that carbon leakage is a significant risk for the ceramics sector, so I can offer him two pieces of information. First, we provide free allowances to the ceramics sector under the ETS. Secondly, just yesterday we announced that ceramics will be included in the UK's carbon border adjustment mechanism.

Partly answered

Not addressed: Exempting the ceramics sector from the emissions trading scheme was not addressed directly; instead, information about free allowances and inclusion in the carbon border adjustment mechanism was provided.

How: Provided Alternative Information

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