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Amendment of the Law

Part of the debate – in the House of Commons at 9:35 pm on 24th March 2014.

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Photo of Catherine McKinnell Catherine McKinnell Shadow Minister (Treasury) 9:35 pm, 24th March 2014

I caution the hon. Gentleman, given that long-term youth unemployment in his constituency has gone up 125% under the Government; he should check the figures.

However, back to the annual investment allowance, the slashing of which has cost jobs. Cutting the allowance from £100,000 to £25,000, then announcing a temporary increase to £250,000 with the expectation that it would then fall again to £25,000, before then increasing it to £500,000 in last week’s Budget, although welcome, does not really inspire confidence in the Government’s long-term strategy for supporting business growth and investment—businesses that desperately need stability and certainty, rather than continual chopping and changing over the years.