(3 days, 17 hours ago)
Commons ChamberKick-starting economic growth in every region and nation is the No. 1 mission of our Government. As part of our new infrastructure strategy, we have allocated £725 billion to building and rebuilding bridges, roads, schools and hospitals across the country. Also, the £2.3 billion for local government transport will benefit places such as Eastleigh and Gloucestershire. In Wales, key rail routes will benefit from £445 million of investment.
Small to medium-sized businesses are the backbone of the local economy in Eastleigh, creating jobs and driving innovation. However, local businesses, including the precision manufacturing firm G. W. Martin, have told me that the increased costs as a result of the changes to employer national insurance contributions have left them with no choice but to pass those costs on to customers, making UK manufacturing less competitive globally. What concrete steps will the Government take to help businesses in Eastleigh?
Half of small businesses will not be affected by the employer national insurance increase, as the hon. Member will know. We will also be setting out a small business strategy in the Government’s plan to support those businesses across the UK later this year.