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Surplus Target and Corporation Tax

Part of the debate – in the House of Commons at 4:27 pm on 4th July 2016.

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Photo of Kit Malthouse Kit Malthouse Conservative, North West Hampshire 4:27 pm, 4th July 2016

The Brexit vote was always going to require a Treasury response so I am pleased the Chancellor has produced one, but, rather than concentrate on the profit and loss, I wonder if he would care to look more at the balance sheet and consider measures to lift or relieve some of the constraints on the operational liquidity of capital in the economy. Our capital base is fundamental to our growth, and taxes and regulations on the operation of capital are significant constraints. So will the Chancellor look at investment allowances, tax breaks on starting new businesses and capital gains tax, in the hope that we can maintain a nice liquid market for capital investment in the UK?