Question to the HM Treasury:

To ask His Majesty's Government, further to the statement by the Chancellor of the Exchequer on 29 July (HC Deb cols 1033–40), what assessment they have made of the impact on (1) small, and (2) innovative, businesses of the call for departmental savings; and in particular what assessment they have made of long-term economic harm, including the loss of economic activity, innovation, export potential, incomes and ability to make pension provisions.

The Chancellor has been clear that stability and sound money are key prerequisites for growth and strong public services. The government has taken hard but necessary decisions to fix the foundations of our economy and bring back economic stability - including through the savings identified at the July statement.