Autumn Statement

Wendy Chamberlain Excerpts

Thursday 17th November 2022 Commons Chamber

[Jeremy Hunt]

I always listen to my hon. Friend on matters such as supply-side reforms and, indeed, long-term competitiveness. I want to reassure him that, while it is a long-term aspiration to become the world’s next silicon valley, we want to put those foundations in place next year. That is why, in those five growth sectors, I said that we will review and decide on changes to all the EU regulations that affect our growth industries in the next calendar year to make sure that we put those foundations in place fast.

[Wendy Chamberlain (North East Fife) (LD)]

The Federation of Small Businesses says that business confidence is at its lowest rate since the pandemic, and in the Chancellor’s oral statement today there was no mention of energy support for business. All the written statement says is that businesses can expect significantly lower support. I have businesses, including care homes, in North East Fife that are facing closure as a result. In the terms of reference, also published by the Government today, for the review, it says there is a very high bar. The Chancellor must have a fair idea of what that means. Can he share it with us and businesses?

[Jeremy Hunt]

We absolutely want to think about care homes and small businesses in the hon. Lady’s constituency, and in mine, and we are spending roughly £18 billion on the support we are giving this winter. We are doing a lot as a Government, but we want people to have certainty and to know what the support will be next April. We need businesses to help themselves as much as we help them, which is why they need to play their part in important energy efficiency measures. Our intention is to announce that business support before Christmas.