Meg Hillier
Main Page: Meg Hillier (Labour (Co-op) - Hackney South and Shoreditch)Department Debates - View all Meg Hillier's debates with the HM Treasury
(1 year, 3 months ago)
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John Glen
My hon. Friend is absolutely right that freeports offer tax relief, simplified customs processes and business rates retention. The evaluation process for the three bids that came in at the end of November is well under way and I hope that conclusions will be made in the very near future.
Dame Meg Hillier (Hackney South and Shoreditch) (Lab/Co-op)
As the hon. Member for South West Bedfordshire (Andrew Selous) said, some businesses have bought in energy at a very high rate because of when they sealed their contract. Many of my local pubs and hospitality businesses will go bust in the beginning of the next financial year because their bills are so out of kilter; they say they would have to charge £15 a pint to survive. Even in London—even in Shoreditch—that is just not feasible. What extra support is the Treasury even considering as we approach the financial statement next month?
James Cartlidge
I am grateful to the hon. Lady and, though I do not know the specifics of her cases, she is welcome to write to me. On the hospitality sector and pubs in particular, we have done two key things: we have kept the reduction in rates, increasing it to 75% relief in the following year, and we have renewed our support with energy bills, saving a typical pub up to £2,400.