Oral Answers to Questions

Debate between Rachael Maskell and Andrew Percy

Monday 27th February 2017 Commons Chamber

[Andrew Percy]

It was a delight to visit the Lomeshaye industrial estate on a wet Lancashire day—is there any other kind?—only the other week, and I thank my hon. Friend for his support for that. On his specific interest in small and medium-sized businesses, just last week I joined other funding partners in launching a £400 million investment fund for northern powerhouse businesses. This will provide loans to businesses of between £25,000 and £2 million, and support our wonderful small and medium-sized businesses across the north.

[Rachael Maskell (York Central) (Lab/Co-op)]

Small businesses form an important part of York’s economy as part of the northern powerhouse, but businesses are struggling with the new deal on business rates. Overseas landlords are pushing up rents, and that is then pushing up rateable values. What discussions has the Minister had with the Treasury so that in next week’s Budget we will see a fair deal on business rates?

[Andrew Percy]

I was in York just last Friday to speak to Make It York and celebrate our funding for the York Central enterprise zones. As the hon. Lady will be aware, business rates bills across the north will be falling, but as the Chancellor and my right hon. Friend the Secretary of State have made absolutely clear, we are committed to supporting further those businesses that are hardest impacted by rises. Across the north more generally, however, we will see falls in business rates.