Question to the HM Treasury:

To ask the Chancellor of the Exchequer, with reference to the Autumn Budget and Spending Review 2021, what discussions he has had with relevant sector stakeholders on the potential effect of the proposed changes to the research and development tax reliefs on (a) the economy, (b) jobs in that sector and (c) levels of research and development investment in the UK.

The report published at Tax Administration and Maintenance Day sets out further detail on the reforms announced at Autumn Budget 2021 and the next steps for the review. The Government has invited written responses and will be consulting with stakeholders on the final policy details. Any effects on the public finances will be scored once final policy decisions have been reached.