UK Internal Market: White Paper

Debate between Lord Sharma and Stephanie Peacock

Thursday 16th July 2020 Commons Chamber

[Alok Sharma]

As I said in response to an earlier question, we have provided support to 2.6 million people through the self-employment income support scheme, and businesses have been able to make use of the bounce-back loan scheme and the other loan schemes the Government have made available. Small businesses have also been able to take advantage of the £10,000 to £25,000 grants that have been put forward.

[Stephanie Peacock (Barnsley East) (Lab)]

South Yorkshire has nearly 1.5 million residents, so what discussions have taken place with local and regional leaders across England to ensure their concerns about covid-19 support are addressed?

[Alok Sharma]

I do not know whether the hon. Lady asks that in relation to the White Paper we have put forward, but as she will know we have been speaking informally to businesses for a period about the UK internal market. Of course, there is now an opportunity for people to respond more formally to the consultation.

Oral Answers to Questions

Debate between Lord Sharma and Stephanie Peacock

Monday 4th May 2020 Commons Chamber

[The Secretary of State for Business, Energy and Industrial Strategy (Alok Sharma)]

As of 1 May, over £4.7 billion-worth of loans have been issued under the coronavirus business interruption loan scheme to 29,496 businesses. From today, businesses will be able to access our new bounce-back loans of up to £50,000 by filling in a simple, quick application. Those will be backed by a 100% Government guarantee.

[Stephanie Peacock [V]]

Since I tabled this question, the Government have taken action in this area, which I welcome, but can the Secretary of State respond to my constituents’ concerns that the application for the business interruption loan scheme is too complicated? Will he develop a simple, standardised application process for businesses looking to access loans above £50,000?