Technology: Capital Allowances

HM Treasury written question – answered on 27th April 2016.

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Photo of Rebecca Long-Bailey Rebecca Long-Bailey Shadow Minister (Treasury), Member, Labour Party National Executive Committee

To ask Mr Chancellor of the Exchequer, with reference to page 36 of his Department's paper, Budget 2016: Policy Costings, published in March 2016, what the source is of the £5 million increase in revenues from updating technologies with access to enhanced capital allowance for 2017-18 to 2020-21.

Photo of Greg Hands Greg Hands The Chief Secretary to the Treasury

The £5 million in revenue is based upon changes to qualifying equipment in the updated Energy Technology List and Water Technology List, as certified by the Office for Budget Responsibility.

The Department for Energy and Climate Change and the Department for Environment, Food & Rural Affairs annually review the technologies and products that qualify for inclusion.

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