Oral Answers to Questions

Debate between Lord Harrington of Watford and Lord Vaizey of Didcot

Thursday 8th July 2010 Commons Chamber

[Richard Harrington (Watford) (Con)]

7. What assessment he has made of the contribution of small and medium-sized enterprises to economic recovery.

[The Parliamentary Under-Secretary of State for Business, Innovation and Skills (Mr Edward Vaizey)]

Small and medium-sized enterprises are the backbone of the economy and will make a vital contribution to the economic recovery, through new start-up activity and through business growth. BIS is currently conducting a survey of small and medium-sized enterprises, which will further inform our assessment of the contribution of SMEs to the recovery.

[Richard Harrington]

On Tuesday, I visited the Queens Road area of Watford—an area previously of retail prominence—with Helen Lynch, a local community volunteer who is trying to revitalise the area. One of the main problems I saw was that many shops had shut down and were shuttered up. When I have tried to get people interested in taking up retail units in starting up a small business, one of the main problems facing them was the high level of business rates. I wonder whether the Minister with responsibility for small business, my hon. Friend the Member for Hertford and Stortford (Mr Prisk), would agree to come to Watford with me so that we could discuss the issue on the ground with some local business people and other interested parties.

[Mr Vaizey]

I pay tribute to my hon. Friend and the work that he does supporting small businesses in his constituency. I certainly think that my hon. Friend the Minister with responsibility for small business would be delighted to visit them. We are looking at temporary rate relief for small businesses. I know that it is a key problem for them.