Economic Update

Alex Norris Excerpts

Tuesday 17th March 2020 Commons Chamber

[Rishi Sunak]

I am pleased to tell my hon. Friend that, as a result of the measures I have taken today, any business in the retail, hospitality and leisure sector, regardless of its rateable value, will now qualify for 100% business rates relief for these next 12 months.

[Alex Norris (Nottingham North) (Lab/Co-op)]

Like colleagues, I spent today talking to businesses in my community. They wanted to know that, when they follow health advice to the letter, and if they keep all their staff on payroll, as they desperately want to, their business will be safe. As a result of the package the Chancellor announced tonight, can I give them that categoric assurance first thing in the morning?

[Rishi Sunak]

I very much hope that the businesses that are looking at the range of measures outlined today will see that there is significant financial support for them, whether that is business rate holidays, direct cash grants or access to incredibly low-cost and accessible financing. The combination of all those measures, on top of the compensation we will pay to small and medium-sized businesses for statutory sick pay, is a significant direct fiscal support for businesses up and down our country to protect people’s jobs.