Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what fiscal steps she is taking to encourage private sector investment in Surrey Heath constituency.

The government is focused on strengthening the UK economy long term by building resilient local economies and supporting household prosperity. Central to this is ensuring that places such as Surrey Heath are well placed to attract private sector investment. Our stable fiscal rules and competitive tax system enable firms to invest confidently. For example, we uphold key aspects of the corporate tax framework, including:

• a main rate of Corporation Tax at 25% – the lowest in the G7;
• a flexible and competitive regime for intangible assets;
• the Patent Box; and
• one of the most generous and competitive capital allowances regimes in the world.

This government is also taking wider steps to strengthen the UK’s overall investment environment. We are reforming regulation to cut costs for businesses and regulate for growth, with measures announced last month expected to save businesses nearly £6bn by the end of the Parliament. This will free up funds for businesses to invest more in productivity, innovation and jobs.

The government has increased the capacity of public financial institutions such as the National Wealth Fund and British Business Bank by 40% to £137 billion this Parliament, using loans, equity and guarantees to support investment. This support for investment also means improving local infrastructure. Surrey will receive £38 million in Local Transport Grant funding to deliver transport improvements such as zero‑emission buses, upgraded cycleways, better accessibility and measures to tackle congestion which is a four‑fold increase in local transport funding in 2029‑30 compared with 2024‑25.

By backing all regions of the UK through measures like these, the government is creating the conditions for private sector investment and high‑quality jobs in every part of the country, including Surrey Heath. This approach is already delivering results, at the first Regional Investment Summit in October, over £10 billion of investment commitments were announced, and nearly 1,000 high‑quality jobs are set to be created. Since coming into government, firms have committed over £340 billion of private investment into the UK.