Florence Eshalomi
Main Page: Florence Eshalomi (Labour (Co-op) - Vauxhall)Department Debates - View all Florence Eshalomi's debates with the HM Treasury
Financial Statement
Florence Eshalomi Excerpts(2 years, 2 months ago)
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Rishi Sunak
The White Paper from the Secretary of State for Levelling Up, Housing and Communities was in fact warmly welcomed by many colleagues from across the House. More broadly, is backed up with tens, if not hundreds, of billions of pounds of extra funding. The results are seen in our employment growth, which has been strongest in those regions outside London and the south-east.
Florence Eshalomi (Vauxhall) (Lab/Co-op)
The Chancellor confirmed a business rate discount for businesses up and down the country, to a rateable value of £110,000. A number of businesses in my constituency do not qualify for that. A number of businesses across London did not get any benefit during the pandemic. One of the key ways that the Chancellor could help many businesses—not just those in Vauxhall—is through VAT cuts for tourism. People are not coming back to the tourism sector; we have seen record low numbers. Does the Chancellor agree that a permanent cut to 12.5% will help those businesses get back on their feet?
Rishi Sunak
All statistics show that the hospitality industry is recovering very well: cash balances are healthy, and business insolvencies are down. That is in part thanks to the support that we have put behind that industry. The uncapped business rate discount will provide support to hundreds of thousands of businesses. It is right that we target support at those who need our help most, whether they are businesses or families and individuals.