Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, how many jobs the Green Homes Grant has supported in (a) Coventry North East constituency and (b) Coventry.
Answered by Graham Stuart
An evaluation of the effectiveness of the voucher scheme, including analysis of scheme outcomes and evidence collected from scheme applicants and other stakeholders, is being undertaken by an independent research organisation. The interim findings, which relate to the delivery of the scheme and the early benefits to households, were published on 26th January 2023 ( https://www.gov.uk/government/publications/green-homes-grant-voucher-scheme-evaluation). The final phase of the evaluation will assess the effect of the Green Homes Grant Voucher Scheme on jobs at national level with findings available in late 2023.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, how many small and medium-sized enterprises in (a) Coventry North East constituency and (b) Coventry have received Government funding for support during the cost of living crisis.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
Businesses in Coventry will have benefitted from the Government’s reversal of the National Insurance rise, saving SMEs approximately £4,200 on average, the cut to fuel duty for 12 months and raising the Employment Allowance to £5,000.
The Energy Bill Relief and Energy Bill Discount Schemes will protect SMEs from high energy costs over the winter. The Autumn Statement announced £13.6 billion of support for businesses over the next five years, reducing the burden of business rates for SMEs.
The Government is providing financial support – 198 SMEs in Coventry North East have received Start Up loans to the value of £1,920,907 and 504 SMEs in Coventry to the value of £5,124,978.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to ensure that small and medium-sized enterprises in (a) Coventry North East constituency and (b) Coventry receive the correct level of support from the Energy Bill Relief Scheme.
Answered by Graham Stuart
The Energy Bill Relief Scheme is set out clearly in legislation so will be applied in a uniform way by all licensed suppliers. The regulations include a robust compliance and enforcement regime to ensure requirements are being met. Suppliers are also required to inform customers about the details of support, including the amount of the discount and discounted supply price in a timely and reasonable manner.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what discussions he has had with businesses in (a) Coventry North East constituency and (b) Coventry on the potential impact of the cost of living crisis on those businesses.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government recognises the impact rising prices are having on businesses, including those in Coventry North East and Coventry constituency, and is engaging with businesses across the UK to understand these challenges and explore ways to mitigate them.
The Government has reversed the National Insurance rise, saving SMEs approximately £4,200 on average, implemented the cut to fuel duty for 12 months and raised the Employment Allowance to £5,000. The Energy Bill Relief Scheme will protect SMEs from high energy costs over the winter.
In addition, at the Autumn Statement, my Rt Hon Friend Mr Chancellor of the Exchequer announced £13.6 billion of support for businesses over the next five years, reducing the burden of business rates for SMEs.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what (a) financial and (b) other steps his Department is taking to encourage the creation of businesses in (i) Coventry North East constituency and (ii) Coventry.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government is encouraging the creation of businesses through the Start Up Loan scheme which has provided mentoring and financial support to 198 SMEs to the value of £1,920,907 and 504 SMEs to the value of 5,124,978 in Coventry North East and Coventry respectively.
We are also committed to supporting SMEs through exemption from new regulations where possible. This exemption was recently extended to businesses with up to 500 employees, potentially reducing red tape and bureaucracy for up to 40,000 more businesses.
We are also providing support through our network of 38 Growth Hubs and Business Support Helpline which provide access to information and advice on starting a business.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to help small and medium-sized enterprises in (a) Coventry North East constituency and (b) Coventry manage the impact of high inflation.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Government has reversed the National Insurance rise, which will save small businesses approximately £4,200, cut fuel duty for 12 months, raised the Employment Allowance to £5,000, zero-rated VAT on energy-saving materials and brought in the Energy Bill Relief Scheme. This compliments existing support, including business rates relief worth £7 billion over five years.
Additionally, business support in Coventry North East and Coventry includes Growth Hubs which have supported 3,030 businesses of varying sizes, £6.09 million towards the Completing the Cultural Capital investment package to help maximise the benefits of Coventry City of Culture, £131.84 million investment from Local Growth Deals and £766,332 funding via the Community Renewal Fund.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of trends in the regional spread of business debt in (a) each of the last five years, (b) during the covid-19 outbreak and (c) during the cost of living crisis.
Answered by Kevin Hollinrake - Minister of State (Department for Business and Trade)
The Department monitors regional trends in business lending through the British Business Bank (BBB), the SME Finance Monitor survey, and the trade associations UK Finance and Responsible Finance. The BBB’s three regional funds support access to debt and equity finance in Cornwall, the Northern Powerhouse and Midlands Engine, including Coventry.
The regional spread of business debt broadly reflects national demand for business lending and the regional distribution of the business population. Differences within regions are more significant, with Community Development Finance Institutions playing a valuable role in enabling access to debt finance for businesses in under-served areas.
According to the SME Finance Monitor, the proportion of all SMEs using external finance was 38% in Q2 2022, down from the 45% using finance in Q2 2021 and in line with pre-pandemic levels. Use of debt finance is higher for SMEs trading internationally and those with plans to grow. The majority (86%) of SMEs are in the category of ‘happy non-seekers’ of finance, meaning that they have either no debt or a level of borrowing that they consider sufficient for their needs.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent assessment he has made of trends in the level of fuel poverty in (a) Coventry North East constituency, (b) Coventry, (c) the West Midlands and (d) England; what estimate he has made of the impact of rising energy costs on the levels of fuel poverty in those areas; and what (i) financial and (ii) other steps his Department is taking to reduce levels of fuel poverty.
Answered by Graham Stuart
The latest official statistics (published February 2022) show the number of households in fuel poverty in these areas are (a) Coventry North East Constituency 10,337 (21.7%), (b) Coventry local authority 28,208 (20.3%), (c) West Midlands administrative area 441,693 (17.8%), (d) England 3,158,206 (1.2%). No assessment of recent trends has been made.
In September, the Government announced the Energy Price Guarantee which will save a typical household at least £1,000 a year. This Guarantee is in addition to the £37 billion Cost of Living Support Package, targeted particularly on those with the greatest need.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what assessment he has made of the impact of the increases in the cost of living on the number of households in (a) Coventry North East constituency, (b) Coventry, (c) the West Midlands and (d) England that have fallen into arrears with their energy supplier; and what (i) financial and (ii) other steps his Department is taking to assist households in those areas with rising energy prices.
Answered by Graham Stuart
The Government is aware of the impact increases in the cost of living is having on households across the country. Ofgem’s latest data shows the number of domestic customers repaying a debt to their energy supplier at the end of Q1 2022 was 1,029,000 for electricity and 786,000 for gas. https://www.ofgem.gov.uk/search/data-charts?keyword=consumer%20debt.
From 1 October, a new Energy Price Guarantee will mean a typical UK household will, on average, pay no more than £2,500 a year on its energy bill for the next two years. This is in addition to the support the Government announced earlier this year, which includes the £400 rebate via the Energy Bills Support Scheme, a one-off £300 payment for pensioners, a one-off £650 payment for those on means-tested benefits and a one-off £150 payment for the disabled.
Asked by: Colleen Fletcher (Labour - Coventry North East)
Question to the Department for Business, Energy and Industrial Strategy:
To ask the Secretary of State for Business, Energy and Industrial Strategy, what recent assessment his Department has made of the impact of the rise in energy prices on (a) households and (b) businesses in (i) Coventry North East constituency and (ii) Coventry.
Answered by Greg Hands - Minister of State (Department for Business and Trade)
The Government does not hold this data at constituency level. The Government understands that this is worrying time for households and businesses. Ministers and officials continue to engage constructively to further understand and to help mitigate the impacts of high global energy prices. The Government’s priority is to ensure costs are managed and energy supplies maintained.