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 help small and medium-sized enterprises in (a) Coventry North East constituency and (b) Coventry manage the impact of high inflation.

The Government has reversed the National Insurance rise, which will save small businesses approximately £4,200, cut fuel duty for 12 months, raised the Employment Allowance to £5,000, zero-rated VAT on energy-saving materials and brought in the Energy Bill Relief Scheme. This compliments existing support, including business rates relief worth £7 billion over five years.

Additionally, business support in Coventry North East and Coventry includes Growth Hubs which have supported 3,030 businesses of varying sizes, £6.09 million towards the Completing the Cultural Capital investment package to help maximise the benefits of Coventry City of Culture, £131.84 million investment from Local Growth Deals and £766,332 funding via the Community Renewal Fund.