Economic Update

Abena Oppong-Asare Excerpts

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

My hon. Friend is exactly right. That is why the steps we are taking are designed to work at pace. Loan schemes will be available from early next week and the Communities Secretary is ensuring that the grant payments are processed as quickly as possible through local authorities in the coming days and weeks.

[Abena Oppong-Asare (Erith and Thamesmead) (Lab)]

I have been contacted by my constituent Andy, from Erith and Thamesmead. Businesses like Andy’s collapsed this week. The scrapping of business rates does not help small businesses like Andy’s. Loans of £300 billion do not help small businesses like Andy’s. Will the Chancellor clearly set out how he will help small businesses? Will he personally promise me that he will help my constituent Andy and do whatever it takes to make sure he is properly supported?

[Rishi Sunak]

We have outlined a package of measures to support small businesses specifically. Indeed, 700,000 of our smallest businesses will now be receiving a £10,000 grant. I suggest that the hon. Lady’s constituent Andy contacts his local authority for further support, either on business rates or local council tax support, where we are injecting an extra half a billion pounds into the system.