Commons Sense

House of Commons · Ministers' Questions

Small and Medium-sized Enterprises

Tuesday 15 November 2022 · 9 questions

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

Read the full transcript on Parliament.uk

At a glance

Answered 3 Partly answered 5 Not answered 0

Key points

  • The Government are reducing the regulatory burden for small and medium-sized enterprises by extending the presumption of exemption to businesses with fewer than 500 employees.
  • The Government are committed to reforming the Consumer Credit Act to support investment in sustainability without additional taxpayer costs.
  • The Government aim to lead by example on prompt payment, committing to pay 90% of valid invoices within five days and 100% within 30 days.

Topics (select to filter)

Questions & Answers

Q1 Giles Watling Con
Business & Trade
Context

The MP inquires about steps being taken to reduce bureaucratic burdens on small and medium-sized enterprises.

Question

What steps he is taking with Cabinet colleagues to reduce red tape for small and medium-sized enterprises?

Answer from Andrew Griffith

The Government are rightly reducing the burden of regulation for tens of thousands of small and medium-sized enterprises. Just a month ago, the presumption of exemption when Departments make regulations was extended from businesses with fewer than 50 employees to those with fewer than 500, and we expect 40,000 SMEs to benefit from that.

Answered
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Q2 Siobhan Baillie
Economy Climate Energy
Context

A constituent in the Stroud district is seeking financing for renewable energy products like solar photovoltaic and batteries but encounters difficulties.

Question

Will my hon. Friend ensure that the Government work with me to look into whether the Consumer Credit Act 1974 constitutes a barrier to banks providing finance for renewable energy solutions, and whether changes could be made to assist consumers and businesses without a cost to the taxpayer?

Answer from Andrew Griffith

My hon. Friend regularly champions the cause of her constituents with Ministers. The Government are committed to reforming the Consumer Credit Act, recognising the need for modernisation of this regulation. I hope that such reform can support the vital investment needed to improve the sustainability of homes in her constituency and across the UK.

Partly answered

Not addressed: Did not commit to specific changes or investigation timeline

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Q3 Craig Tracey Con
Business & Trade
Context

A concern about the regulation's impact on competitors in the financial services sector, particularly those serving vulnerable consumers.

Question

Can the Minister confirm that he will take all possible steps to ensure that the Financial Services and Markets Bill delivers to its full potential, with regulators being held more accountable for their decisions?

Answer from Andrew Griffith

I can give my hon. Friend that assurance. As he knows, the Government are committed to effective, efficient and proportionate regulation. He has advocated a number of amendments to that Bill, and I am giving them due consideration.

Partly answered

Not addressed: Did not commit fully to all possible steps or specific timeline for amendments

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Q4 Dean Russell
Business & Trade
Context

Concern about cash flow issues affecting small businesses due to late payments from government bodies.

Question

May I ask the Government to ensure that all Departments and local government bodies follow the prompt payment policy robustly, encouraging businesses to adhere to the prompt payment code?

Answer from Andrew Griffith

I know that my colleagues will join me in paying tribute to my hon. Friend for the time that he spends helping small businesses. As he says, the Government must lead by example on prompt payment. They are committed to paying 90% of valid invoices within five days and 100% within 30 days, which is absolutely right, and the Cabinet Office's Procurement Bill will ensure that that happens throughout the public sector.

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Q5 Giles Watling Con
Economy Taxation
Context

Concern about the high rate of corporation tax potentially hampering competitiveness and growth for UK businesses.

Question

Despite recent financial upheavals, does my hon. Friend agree that we must maintain our focus on growth by keeping a firm lid on corporation tax?

Answer from Andrew Griffith

I can assure my hon. Friend that the Government are on the side of small businesses and fiscal responsibly, and the introduction of the small profits rate will help the businesses that he talks about.

Partly answered

Not addressed: Did not commit to a specific corporation tax reduction or policy

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Q6 Valerie Vaz Lab Walsall and Bloxwich
Brexit Business & Trade
Context

Concern about the large volume of retained EU law that small businesses may face upon its removal.

Question

When the Government cut red tape, they will find 2,400 pieces of retained EU law. What are they going to do to help small businesses navigate all the legislation dropping on them at the end of next year?

Answer from Andrew Griffith

I welcome the hon. Lady's conversion to the cause of easing the red tape that is buried within EU law. It is this Government's objective to use our new-found freedoms to create regulations that are appropriate for the businesses of this country and that will help us to grow and deliver the prosperity we need for public services.

Partly answered

Not addressed: Did not provide a specific plan or timeline for assistance

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Q7 Chris Elmore Lab Bridgend
Agriculture & Rural Affairs
Context

Farmers facing duplication of forms and pressures from rising energy costs.

Question

What more meaningful support will the Minister give to farmers in my constituency and across the United Kingdom?

Answer from Andrew Griffith

Representing a rural constituency myself, I am familiar with the challenges to our food producers that the hon. Member talks about. I will ensure that the Secretary of State for Environment, Food and Rural Affairs writes to him setting out what we are doing to ensure that we continue to have security of food supply in this country.

Partly answered

Not addressed: Did not provide specific support measures or timeline

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Q8 Emma Hardy Lab Kingston upon Hull West and Haltemprice
Business & Trade
Context

Concern about the current business rate system being unfair to high street businesses.

Question

Will the Chancellor follow Labour's lead by lifting the small business rate relief for 300,000 businesses?

Answer from Andrew Griffith

The Government have committed to review business rates, but it would be wrong for me to pre-empt the outcome of that review here today.

Not addressed: Did not commit to lifting rate relief or following Labour's lead

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Q9 Margaret Ferrier SNP
Energy Business & Trade
Context

Former Chancellor promised to respond regarding energy bill support but has not done so.

Question

Following the mini-Budget, the former Chancellor promised to write about energy bill support. Will the Chancellor look into this and provide a response that I can share with my business, Equi's Ice Cream?

Answer from Andrew Griffith

I will ensure that the case the hon. Lady raises is responded to.

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