Oral Answers to Questions

James Sunderland Excerpts

Tuesday 2nd November 2021 Commons Chamber

[Mr Virendra Sharma (Ealing, Southall) (Lab)]

1. What fiscal steps he is taking to support businesses.

[James Sunderland (Bracknell) (Con)]

5. What fiscal steps his Department is taking to encourage business investment.

[The Chancellor of the Exchequer (Rishi Sunak)]

Last week’s Budget set out an ambitious package to support business, enterprise and innovation: the super-deduction, new relief to incentivise investment, a reduction in business rates and investment in infrastructure, innovation and skills to drive future growth. This was a Budget that backed businesses across the United Kingdom.

[Rishi Sunak]

Last week’s Budget set out a £1.7 billion tax cut for many small and medium-sized businesses across the UK. It will mean that retail, hospitality and leisure businesses will see a 50% discount in their business rates next year, up to the value of £110,000 each. That will, of course, benefit many of the shops in Southall that the hon. Gentleman mentioned, and hopefully I can do my bit by visiting to buy my Diwali mithai later this week.

[James Sunderland]

The Chancellor will know that Bracknell has successfully reinvigorated its town centre and continues to be a great place to do business. Noting that Bracknell and neighbouring Wokingham have one of the lowest centrally funded budgets in the country from central Government, will he please reassure me that east Berkshire will not be passed by when it comes to levelling-up funding?