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Speech in Commons Chamber - Wed 16 Mar 2022
Cost of Living Increases

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Speech in Commons Chamber - Wed 16 Mar 2022
Cost of Living Increases

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Speech in Commons Chamber - Wed 16 Mar 2022
Cost of Living Increases

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Speech in Commons Chamber - Mon 10 Jan 2022
Charter for Budget Responsibility and Welfare Cap

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Speech in Commons Chamber - Mon 10 Jan 2022
Charter for Budget Responsibility and Welfare Cap

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Speech in Commons Chamber - Mon 10 Jan 2022
Charter for Budget Responsibility and Welfare Cap

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Speech in Commons Chamber - Mon 10 Jan 2022
Charter for Budget Responsibility and Welfare Cap

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Written Question
Economic Growth
Tuesday 21st December 2021

Asked by: John Redwood (Conservative - Wokingham)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what plans he has to stimulate growth in the economy.

Answered by John Glen - Paymaster General and Minister for the Cabinet Office

In the spring, the government set out plans to build back better through significant investment in innovation, infrastructure and skills. Stimulating business investment is key for economic growth, and under the super deduction we announced at Spring Budget 2021, for every £1 a company invests in qualifying plant and machinery, its taxes are cut by up to 25p. We have also launched the UK Infrastructure Bank, which will partner with the private sector and local government to support infrastructure investment.

The recent Budget and SR took further steps to put the plan for growth into action. This includes:

  • Bringing the total committed to economic infrastructure since the publication of the National Infrastructure Strategy to over £130 billion.
  • Increasing public investment in R&D to £20 billion by 2024-25, supporting businesses throughout the UK to become more innovative and productive.
  • Investing in skills, including boosting opportunities for adults to upskill and retrain, delivering the government’s commitment to a National Skills Fund, investing in adult numeracy and increasing apprenticeship funding.

Written Question
Economic Situation: Coronavirus
Thursday 16th December 2021

Asked by: John Redwood (Conservative - Wokingham)

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will publish forecasts of the economic impact of the covid-19 restrictions announced on 8 December 2021.

Answered by John Glen - Paymaster General and Minister for the Cabinet Office

On 8 December, the government implemented its Plan B response to managing Covid-19. This was in response to the risks posed by the Omicron variant. The government set out the economic impacts of Plan B in its Autumn and Winter Plan, published in September 2021. Plan B has been designed to help control the spread of the virus while avoiding unduly damaging economic and social restrictions. A full assessment of the measures can be found in the link below.

https://www.gov.uk/government/publications/covid-19-response-autumn-and-winter-plan-2021

HM Treasury does not prepare formal economic forecasts for the UK economy, which are the responsibility of the independent Office for Budget Responsibility (OBR). HM Treasury will continue to conduct macroeconomic analysis to monitor the impacts on the economy from the implementation of Plan B measures.


Speech in Commons Chamber - Tue 30 Nov 2021
Conduct of the Right Hon. Member for Uxbridge and South Ruislip

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