Budget Resolutions and Economic Situation

Angela Richardson Excerpts

Tuesday 9th March 2021 Commons Chamber

[Angela Richardson (Guildford) (Con) [V]]

I welcome this pragmatic Budget, which recognises that flexibility, not ideology, is what is needed in responding to a global pandemic. It addresses the current needs that we have as a country by extending the furlough scheme to September and giving further grants to the self-employed, bringing an additional 600,000 taxpayers into one of the most generous schemes in the world. The measures not just in this Budget but over the past year are rightly lauded. They ensure that businesses can bring back as many employees as possible, and provide security for millions.

Guildford, Cranleigh and our villages are home to wonderful high streets. We are proud of them, and they draw visitors from near and far. I know that local businesses will join me in welcoming the restart grants package of £5 billion, which equates to up to £6,000 or £18,000, depending on when the business reopens. That measure, along with continuing the business rates holiday and extending the cut in VAT so that it remains at 5% for a further six months, is a genuine springboard.

It has been fantastic to see new businesses open in Guildford and Cranleigh, and existing businesses take up locations with a larger square footage, over the past year. That fantastic sign of confidence can be attributed to the Government’s commitment to business.

I want to take this opportunity to recognise the value of our local arts and culture to the economy in Guildford, which is often underestimated. The University of Surrey, in conjunction with the Yvonne Arnaud theatre and the Watts gallery in my constituency, and The Lightbox gallery and museum in nearby Woking, conducted a study last year on the economic and social impacts of the arts. It found that for every £10 spent at a venue, there was an additional spend of up to £13.28, the majority of which stays in the local economy. Over the course of a normal year, the Yvonne Arnaud theatre is calculated to bring an additional £1.5 million into the area simply with theatre attendances. Some 70% of visitors to the area would not have come had the venues been located elsewhere. It therefore strikes me as incredibly short-sighted of Guildford Borough Council to propose cutting funding to the Yvonne Arnaud, and, thankfully, sensible of the Chancellor of the Exchequer to extend the culture recovery fund by an additional £300 million, recognising not only the fiscal value of these institutions, but their value to the social fabric of our communities.

There is a clear plan of investment by this Government in business, high streets and our communities, supporting jobs and providing training and apprenticeships to help enable those who have sadly lost their jobs to get back into work. I will be voting for this Budget tonight.