Commons Sense

House of Commons · General Debate

Small and Medium-sized Enterprises: Great Yarmouth

07 June 2023 · 3 other contributors

Opened by Brandon Lewis Con Great Yarmouth

Business & Trade

Summarised by AI from the official record, so it can contain mistakes.

Read the full transcript on Parliament.uk

At a glance

Brandon Lewis raised concerns about small and medium-sized enterprises: great yarmouth in the House of Commons. Other MPs contributed to the debate.

Key points

  • Mr Lewis emphasised the crucial role of SMEs in local communities and the national economy.
  • He noted that over half of the UK workforce is employed by SMEs.
  • Mr Lewis highlighted challenges faced by SMEs including VAT rates, business rates, and energy costs.

How the debate unfolded

MPs spoke in turn to share their views and ask questions. Here's what each person said.

Opened the debate

Brandon Lewis Con Great Yarmouth

Mr. Lewis emphasised the crucial role SMEs play in local communities and the national economy, highlighting their impact on employment, community engagement, and economic growth. He noted that over half of the UK's workforce is employed by SMEs and that these businesses drive innovation and contribute to social mobility. Mr. Lewis also discussed challenges faced by SMEs such as VAT rates, business rates, and energy costs, advocating for more support from the government in areas like regulation and tax.

Other contributors (3)
  • Robin Millar

    Mr. Millar agreed with Mr. Lewis about the importance of pubs and hospitality businesses being an early indicator of economic issues, noting that they are often the first to detect problems within communities due to their close ties with residents.

  • Nigel Evans Con Fylde

    Before calling the Minister, I must say that it is rare and impressive to hear a content-packed speech delivered without notes, so congratulations.

  • Kevin Hollinrake Con Thirsk and Malton

    SMEs are crucial for the economy, as they create jobs and leave a legacy. The UK is focusing on making it easier to do business every day by improving access to finance, providing support and advice, and removing barriers and red tape. Specific initiatives include the British Business Bank programme supporting over 96,000 SMEs with £12.2 billion in finance, the start-up loan scheme delivering around £1 billion of finance to 100,000 companies, and extensive business support including a network of growth hubs across the UK. The Government is also freezing fuel duty, maintaining the national insurance cut, reversing the national insurance rise, and introducing measures like open banking to improve access to finance for SMEs.

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