Business: Government Assistance

HM Treasury written question – answered on 16th October 2014.

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Photo of Jim Cunningham Jim Cunningham Labour, Coventry South

To ask Mr Chancellor of the Exchequer, what estimate he has made of the total funds provided by Government for (a) corporate welfare grants and support schemes and (b) tax forgone.

Photo of Jim Cunningham Jim Cunningham Labour, Coventry South

To ask Mr Chancellor of the Exchequer, if he will make an assessment of the effectiveness of government financial support to business through grants and tax foregone.

Photo of Jim Cunningham Jim Cunningham Labour, Coventry South

To ask Mr Chancellor of the Exchequer, what estimate he has made of the cost to the Exchequer of tax relief to businesses since 2010.

Photo of Jim Cunningham Jim Cunningham Labour, Coventry South

To ask Mr Chancellor of the Exchequer, how often he reviews the cost effectiveness of corporate welfare schemes; and what the criteria are for such schemes to be continued.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

Tax reliefs are administrated as part of the tax system and are subject to different rules to public expenditure.

HM Treasury and Her Majesty’s Revenue and Customs (HMRC) keep all aspects of the tax system under review to ensure the effectiveness of tax reliefs and to prevent abuse. HMRC has responsibility for administering and monitoring tax reliefs for abuse and, with HM Treasury, is responsible for appraising and evaluating any aspects of the tax system.

The introduction of all tax reliefs or changes to their design and scope are subject to Parliamentary spending scrutiny during the Finance Bill process.

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