Selaine Saxby
Main Page: Selaine Saxby (Conservative - North Devon)Department Debates - View all Selaine Saxby's debates with the HM Treasury
(10 months, 2 weeks ago)
Commons ChamberRead Full debate Read Hansard Text Watch Debate Read Debate Ministerial Extracts
Laura Trott
I can confirm that we are working with the Cabinet Office and the Department of Health and Social Care to ensure that we can respond as quickly as possible once the inquiry reports.
Selaine Saxby (North Devon) (Con)
Sir Edward Leigh (Gainsborough) (Con)
The Financial Secretary to the Treasury (Nigel Huddleston)
Small businesses are the engines that drive our economy and we support them to thrive using levers right across Government. Our small business rates relief means that one third of business properties in England already pay no business rates. We provide tax reliefs benefiting small and medium-sized enterprises, such as the annual investment allowance and employment allowance, and we support investment in SMEs through British Business Bank programmes and a variety of other support measures.
Selaine Saxby
What consideration has been given to reducing employer national insurance contributions to help small businesses to sustain employment following the record increase in the national living wage from April, particularly in the tourism and hospitality industries?
Nigel Huddleston
My hon. Friend and I have spoken about these policy areas on a number of occasions. In terms of supporting small businesses, the employment allowance enables businesses with employer national insurance contributions bills of £100,000 or less to claim up to £5,000 off those bills. That was increased in April 2022 from £4,000 to £5,000, so the smallest 40% of businesses have already been taken out of paying employer national insurance contributions, and many of those are in the hospitality and leisure sector. We always keep policies under review, and I know that my hon. Friend will always be lobbying on this issue.