Inflation - Question

Part of the debate – in the House of Lords at 3:08 pm on 23rd May 2022.

Alert me about debates like this

Photo of Baroness Penn Baroness Penn Baroness in Waiting (HM Household) (Whip) 3:08 pm, 23rd May 2022

My Lords, I absolutely agree with the noble Lord on supporting investment and putting our efforts towards growing the economy. He will know that we have cut business rates by 50% for eligible retail, hospitality and leisure businesses this year. We have increased the employment allowance from £4,000 to £5,000, cutting the cost of employment for 495,000 small businesses, and we have increased the annual investment allowance to £1 million. I know that there is more to do, but I agree with the sentiment in terms of increasing investment in our economy.