Felicity Buchan
Main Page: Felicity Buchan (Conservative - Kensington)Department Debates - View all Felicity Buchan's debates with the HM Treasury
(3 years, 4 months ago)
Commons ChamberRead Full debate Read Hansard Text Read Debate Ministerial Extracts
Rishi Sunak
My right hon. Friend will have seen the analysis we did publish, which talked specifically about sectoral impact. In the document, there were specific links to the various places that people can find GVA and employment by sector and, indeed, the financial resilience of local businesses at some stages by sector and by region. It is that analysis, as we have said, that will determine the particular economic impact in an area. That information is all provided in the report for people to look at.
Felicity Buchan (Kensington) (Con)
Stephen Metcalfe (South Basildon and East Thurrock) (Con)
The Financial Secretary to the Treasury (Jesse Norman)
As my hon. Friend the Member for Kensington (Felicity Buchan) will be aware, the Government have taken unprecedented steps to support the self-employed during this crisis, and that includes through the self-employment income support scheme, which has been extended up to April, with details of the third grant published last week.
Felicity Buchan
Many self-employed people are at the forefront of innovation and start-ups. Can my right hon. Friend tell me what the Treasury is doing to support innovation as we look to rebuild our economy?
Jesse Norman
My hon. Friend is absolutely right about the importance of innovation. She will be delighted to know that the Government are protecting innovators and start-ups from the impact of covid through almost £900 million of future fund loans to date, £79 million for innovation loans as well as other grants, and that comes on top of more than £5 billion of support through research and development tax credits claimed for 2018-19 so far, which support more than £35 billion of R&D expenditure.