Rebecca Pow
Main Page: Rebecca Pow (Conservative - Taunton Deane)Department Debates - View all Rebecca Pow's debates with the HM Treasury
(8 years, 9 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Mr Osborne
Under the last Labour Government, such people were paying 18% tax. Indeed, people in the City boasted that they were paying lower tax rates than the people who cleaned for them. We have changed that and increased the capital gains tax rate to 28%. As a result of the Budget, we are also insisting that that rate is paid across the venture capital industry.
Rebecca Pow (Taunton Deane) (Con)
T3. I am delighted that in the Budget an allocation of £7.2 billion was made for transport infrastructure in the south-west. Will the Chancellor kindly confirm that that allocation includes funding for the much needed upgrade of the A358, the Henlade bypass and junction 25 of the M5, all of which will pave the way for a new strategic employment site?
Mr Osborne
The short answer is yes. All those vital projects for Somerset and the south-west are included in a massive investment in the transport of the south-west.