Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, how many SMEs in Newcastle Central constituency received Government funding for supporting 2022.

The Government recognises the impact rising prices are having on businesses.

Businesses in Newcastle Central will have benefitted from the Government’s reversal of the National Insurance rise, saving SMEs approximately £4,200 on average, the cut to fuel duty for 12 months and raising the Employment Allowance to £5,000. The Energy Bill Relief Scheme will protect SMEs from high energy costs over the winter. In addition, at the Autumn Statement, my Rt Hon Friend the Chancellor of the Exchequer announced £13.6 billion of support for businesses over the next five years, reducing the burden of business rates for SMEs.

The Government is also providing financial support through the Start Up loan scheme - 231 SMEs in Newcastle Central have received loans to the value of £2,593,220 as of October 2022.