Oral Answers to Questions

Debate between Marcus Fysh and Rishi Sunak

Tuesday 27th April 2021 Commons Chamber

[Mr Marcus Fysh (Yeovil) (Con)]

What steps his Department is taking to encourage business investment.

[The Chancellor of the Exchequer (Rishi Sunak)]

Stimulating private sector investment will be key to our economic recovery. The recent Budget announced multiple policies to help achieve that, including freeports, the Help to Grow programme, the future fund breakthrough, the life sciences investment partnership, consultations on reforming R&D tax credits and, of course, our radical new super deduction to support business investment as we recover from the coronavirus.

[Mr Fysh [V]]

I thank my right hon. Friend and the whole Treasury team for the extensive package of support and investment incentives over the past year; I know that businesses and employees in Yeovil are incredibly grateful for that. There is a very welcome focus in the defence review on local prosperity in procurement decisions. Will he work with me to ensure that Leonardo and our wonderful local supply chain for the helicopter industry can take full advantage of that into the future?

[Rishi Sunak]

I thank my hon. Friend for all the advice and support he has provided for me and the team over the past year as we have sought to develop policies that will help businesses, including Leonardo in his constituency, which I know he champions. He is right to highlight the opportunities of better procurement, particularly for our defence supply chain, and I look forward to working with him and colleagues to ensure that we can support his local businesses and many others across the United Kingdom.

Oral Answers to Questions

Debate between Marcus Fysh and Rishi Sunak

Tuesday 26th January 2021 Commons Chamber

[Rishi Sunak]

I am happy to tell the hon. Lady that my right hon. Friend the Financial Secretary to the Treasury met the authors of the report back in December and is considering it alongside all the other submissions that we receive at the Treasury.

[Mr Marcus Fysh (Yeovil) (Con) [V]]

What will my right hon. Friend do to make the UK a more attractive destination for investment and capital formation, to encourage the jobs and opportunities of the future that people rely on the private sector to provide?

[Rishi Sunak]

My hon. Friend is right about needing the private sector to drive growth and create jobs. I am pleased to tell him that the Prime Minister and I chaired the first meeting of the Build Back Better Business Council, where we outlined our plans to invest in infrastructure, innovation and skills alongside businesses. We have also established a new Office for Investment, led by Lord Grimstone, which is charged with securing high-value investment opportunities, and I look forward to hearing from him ideas that we can productively take forward.