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Finance Bill

Part of Bill Presented — Constitutional Convention (No. 2) Bill – in the House of Commons at 1:20 pm on 21st July 2015.

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Photo of George Kerevan George Kerevan Scottish National Party, East Lothian 1:20 pm, 21st July 2015

The reality surely is that the AIA is being cut from the de facto £500,000 per year to £200,000, so it is not an increase. Doing that at the same time as cutting corporation tax runs the risk that firms’ accumulated reserves will be used to buy back shares rather than to go into productive investment, thereby meaning that the productivity growth the Government are seeking will not be achieved.