Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what fiscal steps his Department is taking to create a positive environment for investment in the UK after the end of the transition period on 31 December 2020.
The Government will maintain a competitive tax environment for business, ensuring the UK remains one of the most attractive places in the world to invest, start and grow a business.
As part of this, last month the Government announced a year-long extension to the £1 million temporary cap of the Annual Investment Allowance (AIA). The AIA provides firms 100% same year tax relief on qualifying capital expenditure, up to a fixed limit; and it responds to the needs of business, providing further upfront support for investment in 2021.