Budget Statement

Baroness Verma Excerpts

Friday 12th March 2021 Lords Chamber

[Baroness Verma (Con) [V]]

I refer noble Lords to my interests in the register, and I join all noble Lords in congratulating noble Lords who have given maiden speeches today.

I welcome the Budget: the Chancellor has had to strike a very fine balance in protecting jobs. Could my noble friend the Minister tell me whether he or the Government are considering a review of local enterprise partnerships—LEPs—to see whether they are able to provide greater support to the SME sector, as raised by my noble friend Lord Sterling? He is absolutely right that small and medium-sized businesses are the backbone of our country, and they will need as much support as possible in creating and protecting jobs; we—certainly I—have not seen enough.

My interest is in Leicestershire, and I am extremely grateful for the work that is being done by my colleagues there with the Midlands Engine. However, there is a lot more that we can do, and I would like my noble friend the Minister to see whether it would be possible to review and look at the LEPs and how they can work more closely with the SME sector in particular—especially companies that are now looking at new areas of job creation, on digital platforms and in the science and creative sectors.

I will also ask my noble friend to be very mindful of the impact that this has had on women workers and women-led businesses. Can he give some words of comfort to, and see what further support and advice is available to support, those businesses with offices or premises on high streets that have suffered simply because they have had to close for long periods of time, because landlords will expect a renewal of their rents as soon as lockdown is over?