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To ask the Chancellor of the Exchequer, if she will make it her policy to introduce fiscal measures to support the long-term competitiveness of the UK steel industry in the Autumn Budget 2025.
To ask the Chancellor of the Exchequer, if she will make it her policy to introduce fiscal measures to support the long-term competitiveness of the UK steel industry in the Autumn Budget 2025.
This Government remains committed to supporting the UK steel industry.
The Government will also set out a long-term vision for a revitalised and sustainable sector in a Steel Strategy to be published by the end of the year.
To ask the Chancellor of the Exchequer, if she will take steps to improve the competitiveness of UK-based kitchen manufacturers through the tax system.
To ask the Chancellor of the Exchequer, if she will take steps to improve the competitiveness of UK-based kitchen manufacturers through the tax system.
The government has taken a number of measures to make the tax system competitive and give businesses, including those in the kitchen manufacturing sector, the stability and predictability they need to invest and grow.
For instance, the Corporate Tax Roadmap, published at Autumn Budget 2024, committed to capping the CT rate at 25% for the duration of parliament, the lowest headline rate of CT in the G7. These taxes are also by some of the most generous business investment tax reliefs and allowances in the OECD, such as the Annual Investment Allowance of £1 million per year and Full Expensing, to encourage investment and increase the competitiveness of UK companies internationally.
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to the Soft Drinks Industry Levy thresholds on business competitiveness.
To ask the Chancellor of the Exchequer, what assessment she has made of the potential impact of changes to the Soft Drinks Industry Levy thresholds on business competitiveness.
The Soft Drinks Industry Levy (SDIL) is globally recognised as a transformative health intervention. After SDIL was announced, the average sugar content of soft drinks in scope of the levy fell 46% between 2015 and 2020. These positive health impacts have been achieved without a negative impact on soft drink sales, with sales of drinks subject to the levy increasing by 21% between 2015 and 2020.
Given SDIL’s success, the Chancellor announced at Autumn Budget 2024 her intention to review the levy to enhance its impact. The ‘Strengthening the Soft Drinks Industry Levy’ consultation, published on 28 April 2025, follows this commitment. Specifically, it sets out proposals to reduce the minimum sugar threshold at which the levy applies from 5g to 4g sugar per 100ml, and to remove the current exemptions for milk-based and milk substitute drinks with added sugar.
The government takes potential business impacts seriously, continues to engage with businesses, and welcomes further feedback as part of the consultation, which is open until 21 July 2025.
The government expects to confirm any changes to the levy at the upcoming Budget, and will publish a Tax Information and Impact Note (TIIN) alongside the confirmed policy. This will set out the expected impact of any changes on businesses and civil society organisations.
The Competition and Markets Authority is responsible for investigating anti-competitive practices. As an independent authority, the CMA has discretion to investigate competition cases which, according to its prioritisation principles, it considers most appropriate.
To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Tax changes for non-UK domiciled individuals, published on 30 October 2024, what assessment her Department has made of the potential impact of changes to the non-domiciled tax regime on the UK's global competitiveness as a financial...
To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Tax changes for non-UK domiciled individuals, published on 30 October 2024, what assessment her Department has made of the potential impact of changes to the non-domiciled tax regime on the UK's global competitiveness as a financial...
The Government is committed to improving the UK’s competitiveness internationally and securing economic growth. This reform has been specifically designed to make the UK competitive with a modern, simple tax regime that is also fair. It establishes a tax regime for new residents, which is more attractive to new arrivals than the current rules.
The Government published a Tax Information and Impact Note for this policy on 30 October. This can be found here: https://www.gov.uk/government/publications/tax-changes-for-non-uk-domiciled-individuals/reforming-the-taxation-of-non-uk-domiciled-individuals.
My Lords, this amendment comes at the end of a long debate but is none the less important. It addresses one of the main factors leading to the long and sad decline of many of Britain’s high streets: the huge disparity in costs for businesses having a physical presence in...
My Lords, this amendment comes at the end of a long debate but is none the less important. It addresses one of the main factors leading to the long and sad decline of many of Britain’s high streets: the huge disparity in costs for businesses having a physical presence in...
To ask the Chancellor of the Exchequer, if he will make an assessment with Cabinet colleagues of the potential effect of the Electricity Generator Levy on the international competitiveness of the renewables sector.
To ask the Chancellor of the Exchequer, if he will make an assessment with Cabinet colleagues of the potential effect of the Electricity Generator Levy on the international competitiveness of the renewables sector.
Britain is a global leader in renewable energy. Since 2010, our renewable energy production has grown faster than any other large country in Europe. We are committed to ensuring that the UK remains one of the best places in the world to invest in clean energy and have set stretching deployment ambitions, including up to 50GW of offshore wind by 2030. The Government is supporting renewables deployment through a range of policy levers, including the Contracts for Difference scheme, through which generators have received almost £6 billion net in price support to date.
The Electricity Generator Levy is a proportionate approach to recovering a share of the extraordinary profits being realised by certain generators which will help to fund our vital public services and our support for households and businesses facing increased energy bills.
The importance of continued investment in renewables has been reflected in the design of the levy setting the benchmark price at a level approximately 50% more than the average electricity price over the last decade, indexing the benchmark price to inflation and providing a £10 million allowance below which the levy will not be charged.
My right honourable friend the Chancellor of the Exchequer (Jeremy Hunt) has made the following Written Ministerial Statement.
In the Autumn Statement, I set out the government's strategy for boosting growth by investing in our people, in the infrastructure that connects our country, by creating the right environment for business investment,...
My right honourable friend the Chancellor of the Exchequer (Jeremy Hunt) has made the following Written Ministerial Statement.
In the Autumn Statement, I set out the government's strategy for boosting growth by investing in our people, in the infrastructure that connects our country, by creating the right environment for business investment,...
In the Autumn Statement, I set out the government's strategy for boosting growth by investing in our people, in the infrastructure that connects our country, by creating the right environment for business investment, and by supporting our world-leading financial services companies and innovators. Alongside this, I identified five growth sectors...
In the Autumn Statement, I set out the government's strategy for boosting growth by investing in our people, in the infrastructure that connects our country, by creating the right environment for business investment, and by supporting our world-leading financial services companies and innovators. Alongside this, I identified five growth sectors...
In the face of unprecedented global headwinds, families, pensioners, businesses, teachers, nurses and many others are worried about the future, so today we deliver a plan to tackle the cost of living crisis and rebuild our economy. Our priorities are stability, growth and public services. We also protect the vulnerable,...
In the face of unprecedented global headwinds, families, pensioners, businesses, teachers, nurses and many others are worried about the future, so today we deliver a plan to tackle the cost of living crisis and rebuild our economy. Our priorities are stability, growth and public services. We also protect the vulnerable,...
Let us start with a difficult message for the party opposite: you cannot borrow your way to growth. Sound money is the rock upon which long-term prosperity rests; but it is not enough on its own. Our plan is designed to build a high-wage, high-skill economy that leads to long-term...
Let us start with a difficult message for the party opposite: you cannot borrow your way to growth. Sound money is the rock upon which long-term prosperity rests; but it is not enough on its own. Our plan is designed to build a high-wage, high-skill economy that leads to long-term...
I thank the Chancellor for his statement.
Here we are, the end of 2022. Three Prime Ministers, four Chancellors and four Budgets later, where do we find ourselves? In a worse place than we started the year, with inflation spiralling, growth plunging and living standards falling. Britain is a great country...
I thank the Chancellor for his statement.
Here we are, the end of 2022. Three Prime Ministers, four Chancellors and four Budgets later, where do we find ourselves? In a worse place than we started the year, with inflation spiralling, growth plunging and living standards falling. Britain is a great country...
Today, we have announced tax rises and spending cuts of £55 billion. We can debate the reasons, but to govern is to choose and the shadow Chancellor did not answer the simplest of questions: does she back the need for a package of this size to bring down inflation? If...
Today, we have announced tax rises and spending cuts of £55 billion. We can debate the reasons, but to govern is to choose and the shadow Chancellor did not answer the simplest of questions: does she back the need for a package of this size to bring down inflation? If...
It is good to see the return of the forecast from the official Office for Budget Responsibility. We all remember why a Conservative Government had to set it up. We will have the OBR in front of our Committee next Tuesday, when we can question the underlying assumptions of the...
It is good to see the return of the forecast from the official Office for Budget Responsibility. We all remember why a Conservative Government had to set it up. We will have the OBR in front of our Committee next Tuesday, when we can question the underlying assumptions of the...
I welcome my hon. Friend to her chairmanship of the Select Committee; I know she will do a brilliant job. She makes an important point. It is essential that we work hand in glove with the Bank of
England to bring down inflation. Today, the OBR confirmed that inflation is...
I welcome my hon. Friend to her chairmanship of the Select Committee; I know she will do a brilliant job. She makes an important point. It is essential that we work hand in glove with the Bank of
England to bring down inflation. Today, the OBR confirmed that inflation is...
The current Chancellor comes here today as the seventh Chancellor in seven years, and a mere 55 days after the last Chancellor came to this House to present his chaotic mini-Budget. His predecessor managed to crash the economy in 26 minutes; this Chancellor has spent the past 53 minutes trying...
The current Chancellor comes here today as the seventh Chancellor in seven years, and a mere 55 days after the last Chancellor came to this House to present his chaotic mini-Budget. His predecessor managed to crash the economy in 26 minutes; this Chancellor has spent the past 53 minutes trying...
I thank the hon. Lady for her comments. She is complaining about economic instability damaging business in Scotland, but she supports the most destabilising policy of all: separation from the United Kingdom. She complained about Brexit, but 1 million voters in Scotland voted for Brexit, and we are implementing the...
I thank the hon. Lady for her comments. She is complaining about economic instability damaging business in Scotland, but she supports the most destabilising policy of all: separation from the United Kingdom. She complained about Brexit, but 1 million voters in Scotland voted for Brexit, and we are implementing the...
I welcome and commend my right hon. Friend’s and the Government’s commitment to sound money and sound public finances. I also welcome the commitment my right hon. Friend has given to innovation and R&D in developing and rebuilding our economy, but could I ask him to go further and look...
I welcome and commend my right hon. Friend’s and the Government’s commitment to sound money and sound public finances. I also welcome the commitment my right hon. Friend has given to innovation and R&D in developing and rebuilding our economy, but could I ask him to go further and look...
I thank my right hon. Friend for the tremendous support she gave to science and innovation when she was Prime Minister. That is very much something we want to build on as we go forward. We are looking at all the taxes around R&D relief, which we want to encourage....
I thank my right hon. Friend for the tremendous support she gave to science and innovation when she was Prime Minister. That is very much something we want to build on as we go forward. We are looking at all the taxes around R&D relief, which we want to encourage....