Capital Allowances

Part of Oral Answers to Questions — Treasury – in the House of Commons at 2:30 pm on 16 March 2010.

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Photo of Sarah McCarthy-Fry Sarah McCarthy-Fry Parliamentary Secretary, HM Treasury 2:30, 16 March 2010

I assure my hon. Friend that we believe that investment is crucial for the UK economy's long-term success. That is why we acted to support business investment during the recession by temporarily doubling the main rate of capital allowance. We support capital allowances-unlike the Opposition, who wish to cut allowances for investment.