Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment she has made of the UK’s international tax competitiveness relative to comparable OECD economies; and what consideration she is giving to measures that would encourage investment and business growth.

The UK has an internationally competitive, territorial corporate tax regime, which is an essential component of growth and industrial policy in the UK.

The Government published its Corporate Tax Roadmap at Autumn Budget 2024, which included a commitment to ensuring a competitive and sustainable main rate of corporation tax by capping it at 25 per cent for the duration of this parliament. The current rate of corporation tax is the lowest in the G7, and this is supplemented by generous business investment tax reliefs which directly support investment, including Capital Allowances, R&D tax reliefs, and the Patent Box regime.

The Corporate Tax Roadmap provides businesses with the stability and certainty they need to make long-term investment decisions in the UK.