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 have received public funding for support with the increase in the cost of living in Hornsey and Wood Green.

The Government recognises the impact rising prices are having on businesses, including those in Hornsey and Wood Green.

Businesses in Hornsey and Wood Green will have benefitted from the Government’s reversal of the National Insurance rise, saving SMEs on average £4,200, cut fuel duty for 12 months and the Energy Bill Relief Scheme, to protect SMEs from high energy costs over the winter. The Employment Allowance was increased to £5,000 from April and we have continued to provide business rate relief worth over £7bn, freezing the business rates multiplier for a further year.

The Government is providing financial support - 348 SMEs in Hornsey and Wood Green have received Start Up Loans to the value of £2,988,847 as of November 2022.