Written question asked by Ruth Jones (Labour) on Thursday, 11 May 2023, in the House of Commons. It was due for an answer on Monday, 15 May 2023. It was answered by Victoria Atkins (Conservative) on Wednesday, 17 May 2023 on behalf of the Treasury.
Business: Newport West
- Question
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To ask the Chancellor of the Exchequer, what recent fiscal steps he has taken to support businesses in Newport West constituency.
- Answer
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Businesses in Newport West, as well as those across Wales and the UK, stand to gain significantly from the numerous business support measures announced at Spring Budget.
In particular, full expensing for investment in qualifying plant and machinery investment, until March 2026, amounts to a £27 billion tax cut for companies. Approximately 220,000 Welsh SMEs could also benefit from the government's plans to simplify the tax system. This is on top of the additional £180 million in Welsh Government funding through the Barnett formula, which can be used to support businesses.
The Government is committed to making the UK the best place to do business in the world and Newport West’s businesses stand to benefit from these fiscal steps.
Secondary information
- Type
- Written question
- Reference
- 184730
- Session
- 2022-23
- Subjects
- Business Government assistance Newport West
- Link
- View this Written question on www.parliament.uk
Librarians' tools
- Timestamp
- 2023-05-17 15:45:15 +0100
- URI
- http://data.parliament.uk/writtenparliamentaryquestion/commons/2022-23/184730
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- http://indexing.parliament.uk/Content/Edit/1?uri=http://data.parliament.uk/writtenparliamentaryquestion/commons/2022-23/184730
- In Solr
- https://search.parliament.uk/claw/solr/?id=http://data.parliament.uk/writtenparliamentaryquestion/commons/2022-23/184730