Oral Answers to Questions

Julian Sturdy Excerpts

Wednesday 10th November 2010 Commons Chamber

[The Deputy Prime Minister]

I find it extraordinary that the hon. Lady can piously ask questions about changing one’s mind on this issue, when her party said no to fees in 1997, and introduced them; said no to top-up fees in the manifesto of 2001, and introduced them; said yes to the Browne review, but now says no to it; says yes to some graduate taxes, but no to others. Labour Members should make up their minds.

[Julian Sturdy (York Outer) (Con)]

Q10. As the coalition continues to stabilise our economy, will the Deputy Prime Minister assure my constituents that providing long-term relief and support for small and medium-sized businesses remains high on the Government’s priority list?

[The Deputy Prime Minister]

Yes, absolutely, as I said in answer to the earlier question. Over the past six months, we have taken a number of steps to help small and medium-sized enterprises: reducing the small profits rate of corporation tax from 21% to 20% from April next year; introducing new rules whereby for any new regulation, another one must be scrapped; the new enterprise capital fund of £37.5 million to provide additional equity finance; and of course the enterprise finance guarantee fund, which will be increased by £200 million. That is real support for the wealth creators of the future.