Oral Answers to Questions Debate

Full Debate: Read Full Debate
Department: HM Treasury
Tuesday 20th October 2020

(4 years, 2 months ago)

Commons Chamber
Read Full debate Read Hansard Text Read Debate Ministerial Extracts
Caroline Nokes Portrait Caroline Nokes (Romsey and Southampton North) (Con)
- Hansard - - - Excerpts

What fiscal steps his Department is taking to support businesses in sectors that remain subject to covid-19 restrictions. [907778]

Maria Miller Portrait Mrs Maria Miller (Basingstoke) (Con)
- Hansard - -

What fiscal steps his Department is taking to support businesses affected by the covid-19 outbreak. [907783]

Steve Barclay Portrait The Chief Secretary to the Treasury (Steve Barclay)
- Hansard - - - Excerpts

The Government recognise that the pandemic has caused extreme disruption to the economy. That is why we have delivered one of the most comprehensive and generous support packages anywhere in the world, worth over £190 billion.

--- Later in debate ---
Steve Barclay Portrait Steve Barclay
- Hansard - - - Excerpts

My right hon. Friend is right about the pressure on businesses in tier 1 as well. That is why, in the package the Chancellor has set out, has been the extension of loan facilities to help those businesses with their cash flow. In the south-east region, which my right hon. Friend represents, the total is some £0.5 billion of support.

Maria Miller Portrait Mrs Miller
- Hansard - -

Many thousands of small businesses have already benefited from the measures that my right hon. Friend and his colleagues have put in place. As we move forward, may I urge him to keep a small business focus, particularly for small brewers? Duty levels are a crucial part of their business viability, and may I urge him to keep small breweries’ relief in place, as it is helping to safeguard the future of many small breweries not just in Hampshire but throughout the United Kingdom?

Steve Barclay Portrait Steve Barclay
- Hansard - - - Excerpts

My right hon. Friend makes an extremely valid point about the impact on that sector. That is why the Treasury is reviewing small breweries’ relief and, indeed, the Exchequer Secretary has taken forward reforms, at the industry’s request, to fix issues in the current relief design.