Oral Answers to Questions

Debate between Sajid Javid and Fiona Bruce

Tuesday 2nd February 2016 Commons Chamber

[Sajid Javid]

My hon. Friend is right. In such circumstances, those businesses should of course be helped as well. We know that many of them are already applying directly to councils, to which we have provided funding. They are eligible for the £2,500 grant, and they can apply for the further grant of £5,000. They will also benefit from the three-month business rate holiday.

[Fiona Bruce (Congleton) (Con)]

3. What steps his Department is taking to support people who want to start their own business.

Enterprise Bill [Lords]

Debate between Sajid Javid and Fiona Bruce

Tuesday 2nd February 2016 Commons Chamber

[Sajid Javid]

I have got the hon. Lady’s point, Madam Deputy Speaker. I will come on to the green investment bank, and she will see that, because I agree with her main point—I want to see it raise more money—we are setting it free.

We have cut corporation tax and red tape. We are devolving the power to cut business rates and have doubled small business rate relief. We have lifted nearly half a million employers out of national insurance contributions. We have supported more than 30,000 companies with start-up loans. And we have launched a five-year programme to help British businesses make the most of export opportunities around the world.

All this work is paying off. In 2016, Britain is home to more private businesses than at any point in its history—almost 5.5 million of them. Over the past eight years more than 600,000 people have made the courageous decision to become self-employed, many in highly skilled professions, but I want to do more.

[Fiona Bruce (Congleton) (Con)]

The Secretary of State is making a powerful speech about this Government’s support for the creation of businesses, particularly small businesses, which of course requires not only the energy of the individual entrepreneur, but the support of their family. Will the Secretary of State outline how the family impact test has been applied in developing this Bill?

[Sajid Javid]

My hon. Friend makes an important point about the support offered to successful businessmen and women by their families. Whenever we develop any of these policies, we will carefully consider the impact on families, and I hope my hon. Friend will see that that is indeed the case as I progress through my speech and we release more detail on the Bill.

As I was saying, 600,000 people have become self-employed over the past eight years, but we want to do more, because, for my sins, I am obsessed with economic growth. That is why I am proud to have introduced the Bill before the House today.

The Enterprise Bill will strengthen the UK’s position as one of the best places in the world to start and grow a business. It will cut the red tape that too often strangles growth. It will support investment in the skills that British businesses need to be competitive now and in the future. And it will help deliver the economic growth and security that benefits every single one of us in this country.