(3 days, 7 hours ago)
Commons ChamberI know that my hon. Friend is working closely with the local Labour council in Southport to regenerate the local town centre, and we will make sure that this Government back him every step of the way.
At the Budget, we more than doubled the employment allowance to £10,500 to take many small businesses out of paying national insurance altogether. On corporation tax, we have maintained the small profits rate to help smaller businesses, and to help entrepreneurs raise finance and grow, the Government have extended the enterprise investment scheme and the venture capital trust scheme. I very much add my words of support to businesses across Ilford, and I commend the work my hon. Friend does to champion them.
Clwyd North is a proud coastal constituency, home to a dedicated hospitality sector with many small businesses, including the recently opened Bobcats Coffee, where young entrepreneur Bobby is an example to us all. Economic circumstances have been tough after a decade of neglect by the Tories. Will the Chancellor outline the Treasury’s plans to support the small businesses that are such a vital part of our local economy?
From the next financial year, this Government will introduce permanently lower rates for high street, retail, hospitality and leisure properties with rateable values below £500,000, and we are doing that exactly to support the sort of businesses that my hon. Friend champions.
(4 months ago)
Commons ChamberThe hon. Gentleman knows that in order for us to restore public finances and put them on a firm foundation, departmental settlements have to reflect the cost of the civil servants they employ; that is how the Departments are working. As the Chancellor has previously confirmed, the Department for Education has received money to cover the cost of running the education system, and the details will be provided to schools in the normal way in due course.
I thank my hon. Friend, who is an important champion for the Welsh economy. Wales can and will play a vital part in our growth mission. Our two Labour Governments continue to work together as we review the position inherited from the Conservative Government, including on rail infrastructure, and decisions will be set out in the spending review in June.