Source · Select Committees · Business and Trade Committee
Recommendation 1
1
Accepted
Paragraph: 17
Part of the reason why the UK achieves lower productivity rates than other advanced economies...
Conclusion
Part of the reason why the UK achieves lower productivity rates than other advanced economies is that levels of business investment and research and development investment have fallen behind.
Government response summary AI-generated
The government outlines ongoing reviews and changes to R&D tax reliefs aimed at supporting innovation, including increasing the R&D Expenditure Credit rate and introducing a new rate for R&D intensive SMEs.
Summary of the government's response below — read the verbatim text to verify.
Paragraph Reference:
17
Government Response
Accepted
HM Government · verbatim extract
Accepted
We welcome the Chancellor’s announcement on full expensing for capital investment but highlight the short period of time that this policy is available for businesses. Many businesses will make much longer-term investment decisions which could benefit from making this change permanent, providing long-term investment stability.
Read the full response on Parliament ↗