Written Question·Treasury·UIN 6939

Textiles: Recycling

Tabled: 4 October 2024

Answered: 14 October 2024

Question

Jess Asato

To ask the Chancellor of the Exchequer, if she will make an assessment of the potential merits of (a) VAT reductions, (b) tax breaks and (c) other financial incentives for businesses engaged in (i) upcycling and (ii) the sustainable production of textiles

Answer

James Murray

The Government has inherited a challenging fiscal position, with debt near 100% of GDP and borrowing more than double what it was before the pandemic. In addition to this, a Treasury audit in July 2024 revealed an additional £21.9 billion pressure on depa...

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