Oral Answers to Questions

Steve Yemm Excerpts

Tuesday 3rd December 2024 Commons Chamber

[The Economic Secretary to the Treasury (Tulip Siddiq)]

The FCA is held to account by the Government and Parliament, but Treasury Ministers cannot comment on individual cases, and the Treasury has no stake in the operational issues of the FCA. I am very happy to meet with the right hon. Lady and the FCA to discuss that matter, but let me be clear: the FCA is an independent regulator.

[Steve Yemm (Mansfield) (Lab)]

T9.   What measures are the Government taking to support small independent retail businesses in town centres such as mine in Mansfield, and will the Chancellor join me in congratulating Mansfield business improvement district on its successful renewal ballot, which was announced last Friday?

[Rachel Reeves]

I happily join my hon. Friend in welcoming Mansfield’s success. We have launched a revamped fair payment code, under which signatories commit to paying their suppliers on time, and the disability finance code for entrepreneurship. That comes on top of reforms announced at the Budget to protect small businesses, such as doubling the employment allowance to £10,500, and our commitment to maintaining the small profits rate and marginal relief at their current rates and thresholds, as well as to freezing the small business multiplier for 2025-26—