Oral Answers to Questions

Will Quince Excerpts

Tuesday 29th January 2019 Commons Chamber

[Robert Jenrick]

We are seeing mayors across the country driving their regions’ economic strategy, including great mayors like Ben Houchen in the Tees Valley and Andy Street in the West Midlands. We want to see more mayors, but we have to be mindful of the original purpose of devolution, which, as my hon. Friend said, is the role of cities and their immediate hinterland in driving productivity and economic growth.

[Will Quince (Colchester) (Con)]

2. What steps he is taking to encourage the creation of new businesses.

[The Exchequer Secretary to the Treasury (Robert Jenrick)]

The UK is one of the best places in the world to start a business, and a new business is being established every 75 seconds in this country. The Government champion entrepreneurship by keeping business taxes low and helping entrepreneurs to access the finance they need.

[Will Quince]

New and growing businesses in Colchester such as Ryza Media, Three Wise Monkeys, Heavenly Desserts and Beer Me Now are helping to drive our local economy. How will measures such as the start-up loans programme, cutting business rates by a third and entrepreneurs’ relief further encourage entrepreneurs in Colchester to thrive?

[Robert Jenrick]

My hon. Friend has named some of the measures that we have recently brought forward to support entrepreneurship in all parts of the country. At the recent Budget, the Federation of Small Businesses declared it the most business-friendly Budget ever, and rightly so. We have extended the start-up loans scheme, helping an extra 10,000 entrepreneurs to get the capital they need, and with that—along with our reductions in business rates and with entrepreneurs’ relief, the seed enterprise investment scheme, the enterprise investment scheme and reductions in corporate taxes, including for small businesses—we are creating the most globally competitive tax regime to support those who create jobs and enterprise in our country.