Question to the HM Treasury:

To ask His Majesty's Government, in light of the Organisation for Economic Co-operation and Development growth forecast, what steps they are taking to balance tax and regulatory policies to promote investment while meeting fiscal responsibilities.

Economic growth is the Government's number one mission and our strategy has consistently set out to grow the supply-side of our economy, including through reforms to skills, planning, and regulation, establishing the National Wealth Fund to unlock £70 billion of private investment, and signing new trade deals with the EU, US, and India to increase opportunities for exporters.

The IMF have said our fiscal strategy is striking “a good balance between supporting growth and safeguarding fiscal sustainability” and that our growth mission “focuses on the right areas to lift productivity”, while on spending they conclude our plans are “credible and growth-friendly” and are “expected to provide an economic boost over the medium term”.

At the Spring Statement, the independent Office for Budget Responsibility upgraded our growth forecast and confirmed we are on track to meet our fiscal rules two years ahead of target.