Retail Businesses: Financial Support

Baroness Wheatcroft Excerpts

Monday 21st September 2020 Lords Chamber

[Lord Callanan (Con)]

My Lords, the noble Lord is right to be concerned about the high street, and I am sure that Weston-super-Mare is no exception. As he will no doubt be aware, we abolished business rates for 12 months for all eligible businesses in the retail, hospitality and leisure sectors. That support was worth almost £10 billion. We also gave local authorities grants worth £11 billion to distribute to help local businesses.

[Baroness Wheatcroft (Non-Afl) [V]]

My Lords, retail is a dynamic sector that was undergoing radical change even before Covid hit. The rise of internet shopping has changed the shape of retail. Does the Minister accept that there is no point in propping up retail businesses which would not have survived the course anyhow? Perhaps the Government ought to be looking at helping more community shops get under way so that, particularly in rural areas, people can get what they want on their doorsteps.

[Lord Callanan (Con)]

The noble Baroness is right to draw attention to the massive changes taking place in the retail sector, some of which were exacerbated by the Covid dynamic. There has been a lot of switching to online shopping, but many high street premises are engaged in online business as well. So, there is a vast range of innovative things happening throughout the sector.