The Financial Secretary to the Treasury, Jane Ellison MP, has responded to a question by Kirsty Blackman MP (SNP) on the Social Investment Tax Relief (SITR).

Kirsty Blackman “Mr Chancellor of the Exchequer, what assessment he has made of the (a) annual cost to the public purse and (b) efficacy of the tax relief introduced under the Finance Act 2014 relating to investments in social enterprises”.

Jane Ellison: The Government announced the enlargement of Social Investment Tax Relief (SITR) at Autumn Statement 2016. By 2021-22, SITR is forecast to cost £65m per year. Further information can be found in the Tax Impact Information Note. The Government will also review the design and operation of SITR within two years of its enlargement to ensure that it is being used as intended, that it supports social enterprises which would otherwise struggle to access finance, and that it delivers value for money.