The Labour Party is currently undertaking extensive engagement with business and industry, along with other relevant experts and stakeholders in order to develop evidence based proposals on how tax reliefs can best be used to incentivise businesses to invest.
We want to assess what works, learn relevant lessons from abroad, and have a clear focus on value-for-money. In a time of tight public finances, we need to ensure we have the best possible approach to the state working with industry to ensure the long-term approach that the economy needs.
Recent reports by the National Audit Office and the Public Accounts Committee, have raised concerns that HMRC undertakes limited evaluation of tax reliefs to see if the Government’s objectives are being met.
Labour is calling for tax reliefs to be subject to the same rigorous analysis and review as expenditure by government departments and agencies. Your evidence is very important to us. We would, therefore be very grateful if you could respond to the following core questions: