Insolvency: York Central

(asked on 22nd June 2023) - View Source

Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what assessment has he made of the impact of rises in the cost of living on the numbers of (a) businesses at risk of insolvency and (b) people in debt in York Central constituency; and what fiscal steps is he taking to support these (i) businesses and (ii) people.


Answered by
Andrew Griffith Portrait
Andrew Griffith
Minister of State (Department for Science, Innovation and Technology)
This question was answered on 27th June 2023

The government recognises the importance of supporting businesses and individuals during these challenging times. The Energy Bills Discount Scheme (EBDS) provides all eligible businesses and other non-domestic energy users with a discount on high energy bills for 12 months from 1 April 2023 until 31 March 2024.

The government also announced further support at Spring Budget to protect struggling families: across 2022-23 and 2023-24, support to households to help with higher bills is worth £94 billion, or £3,300 per household on average – one of the largest in Europe.

To help people in problem debt, the Government continues to maintain record levels of funding for the Money and Pensions Service to provide debt advice in England, bringing their debt advice budget to £92.7 million in 2023/24. Data from 2021 on the percentage of people needing debt advice in York Central is published by the Money and Pensions Service (MaPS). This can be found here:

https://moneyandpensionsservice.org.uk/2021/09/30/need-for-debt-advice-2021-estimates-for-uk-constituencies-and-local-authorities/

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