Finance (No. 2) Bill

Part of Bill Presented – in the House of Commons at 1:36 pm on 1st April 2014.

Alert me about debates like this

Photo of Danny Alexander Danny Alexander The Chief Secretary to the Treasury 1:36 pm, 1st April 2014

No.

The Bill also recognises that social enterprises have a role to play not only in growing the economy but in rebalancing the economy and in reforming public services. At present, public services are often ineligible for existing reliefs. The Bill introduces a new tax relief for investment in social enterprises at a rate of 30%, the same as for existing venture capital schemes. I believe that this will unlock up to £500 million of additional investment in social enterprises over the next five years. I hope that Members on both sides of the House will welcome that.