Asked by: Alan Mak (Conservative - Havant)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to support Venture Capital Trust-backed technology businesses.
Answered by Dan Tomlinson - Exchequer Secretary (Cabinet Office) (Jointly with HM Treasury)
At Budget, the government announced a comprehensive package of measures designed to provide enhanced support for businesses seeking to start and scale in the UK. This included doubling the annual, lifetime and gross assets limits on investment which companies can receive through the Enterprise Investment Scheme and Venture Capital Trust scheme.
Overall, the changes we made are forecast to increase investment by around £100m per year into high-growth scaling companies, including those in the technology sector.
Asked by: Alan Mak (Conservative - Havant)
Question to the HM Treasury:
To ask Mr Chancellor of the Exchequer, whether he plans to increase the personal allowance during this Parliament.
Answered by David Gauke
The Government is committed to raising the income tax personal allowance from £10,600 to £12,500 by the end of this parliament. This is alongside our commitment to raise the higher rate threshold to £50,000. Over 30 million individuals will benefit from these changes.
Summer Budget 2015 confirmed that the personal allowance will increase to £11,000 in 2016-17, and £11,200 in 2017-18.