Local Government: Economy

Viscount Waverley Excerpts

Tuesday 9th June 2020 Lords Chamber

[Lord Greenhalgh]

My noble friend raises an important point: support for the economy needs to include those microbusinesses in rural areas. The figures and support mechanisms indicate that a number of businesses have received support, whether it is by grant or by business premises rates deferral, but we will look specifically into those measures as well so that we support all businesses during this pandemic.

[Viscount Waverley (CB) [V]]

My Lords, technological innovation is key in this interconnected world. I follow others in their questioning; however, the Government’s future fund appears more likely to favour larger enterprises, with SMEs possibly left behind. Will the Minister consider what role economic development departments in local authorities could play in allowing smaller businesses to benefit, thus promoting a more localised approach to economic recovery?

[Lord Greenhalgh]

My Lords, it should be noted that so far the grant scheme has gone to some 804,000 business premises. The spread of the economy for those who are self-employed, as well as small businesses, is quite considerable at this stage. I know, as a former local authority leader, that economic development is very important, not just for large businesses but for the small and medium-sized enterprises that are the backbone of this economy.