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Capital Investment

Treasury written question – answered on 11th February 2020.

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Photo of Lord Birt Lord Birt Crossbench

To ask Her Majesty's Government what assessment they have made of reports that International Monetary Fund data shows that the UK is placed 27th out of 28 EU countries for investment as a proportion of GDP between 2000 and 2019.

Photo of The Earl of Courtown The Earl of Courtown Captain of the Queen's Bodyguard of the Yeomen of the Guard (HM Household) (Deputy Chief Whip, House of Lords)

We recognise that in recent years the UK has seen relatively low levels of investment. This Government has committed to increase investment through improving infrastructure. The National Infrastructure Strategy, to be published alongside the Budget, will set out further details of the Government’s plan to transform the UK’s infrastructure and the Government’s long-term ambitions across transport, local growth, decarbonisation, digital infrastructure, infrastructure finance and delivery.

The UK corporate tax regime is highly competitive, with the lowest rate of corporation tax in the G20. Beyond this, businesses are benefitting from enhanced tax incentives, including the recent introduction of the Structures and Buildings Allowance (SBA), and a temporary increase in the Annual Investment Allowance to £1 million.

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