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

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps his Department is taking to support small businesses in Stockport constituency in the context of the cost of living crisis.

Businesses in Stockport 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 and Energy Bill Discount Schemes will protect SMEs from high energy costs over the winter. The Autumn Statement announced £13.6 billion of support for businesses over the next five years, reducing the burden of business rates for SMEs.

The Government is providing financial support – 173 SMEs in Stockport have received Start Up loans to the value of £1,648,098 as at December 2022.