Commons Sense

House of Commons · Ministers' Questions

Small Businesses: Support

Tuesday 6 February 2024 · 5 questions

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

Read the full transcript on Parliament.uk

At a glance

Answered 1 Partly answered 3 Not answered 0

Key points

  • Ministerial Department supports small businesses through tax reliefs and investment programmes.
  • Employment allowance helps businesses offset employer national insurance contributions.
  • Minister agrees lower taxes and fewer regulations can foster UK economic growth.

Topics (select to filter)

Questions & Answers

Q1 Edward Leigh Con Gainsborough
Economy Business & Trade
Context

The question arises from concerns about the financial health and growth prospects of small enterprises in the UK.

Question

What fiscal steps is his Department taking to support small businesses?

Answer from Nigel Huddleston

Small businesses drive our economy, and we support them through various tax reliefs like the annual investment allowance and employment allowance. We provide rates relief for a third of business properties in England paying no rates, and we invest in SMEs via British Business Bank programmes.

Partly answered

Not addressed: Did not specify concrete new steps being taken currently beyond existing policies

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Get updates like this by email
Q2 Selaine Saxby
Taxation Employment
Context

The question pertains to the impact of national living wage increase on employment in sectors like tourism and hospitality, seeking policy adjustments.

Question

What consideration has been given to reducing employer national insurance contributions to help small businesses sustain employment post-national living wage hike?

Answer from Nigel Huddleston

The employment allowance allows businesses with £100,000 or less in employer national insurance contributions bills to claim up to £5,000 off those bills. The smallest 40% of businesses are already exempt from paying these contributions due to this relief, many of which operate in hospitality and leisure.

Partly answered

Not addressed: Did not commit to reducing employer national insurance contributions specifically for the tourism and hospitality sectors

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Get updates like this by email
Q3 Edward Leigh Con Gainsborough
Taxation Business & Trade
Context

The question addresses the increasing burden on entrepreneurs due to regulations and tax policies, suggesting a preference for simpler taxes and less intervention.

Question

Does the Minister agree that what small businessmen want is not more handouts but lower, simpler taxes and less regulation?

Answer from Nigel Huddleston

The Minister agrees with his instincts that lower taxes and fewer regulations can release entrepreneurial spirit, independence, and innovation across the UK, fostering its growth.

Not addressed: Did not provide specifics on tax or regulatory changes

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Get updates like this by email
Q4 Stephen Timms Lab East Ham
Economy
Context

The question highlights Labour's concern about the UK's falling business investment ranking and the government's commitment to a public sector net investment target.

Question

Can the Minister offer reassurance on the future trajectory of public sector net investment, given past failures?

Answer from Nigel Huddleston

The Government plans to increase public sector net investment by £28 billion in real terms at the start of the next Parliament, representing a 40% increase from current levels or 7% annually—the largest ever published target.

Answered

Not addressed: null

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Get updates like this by email
Q5 Debbie Abrahams Lab Oldham East and Saddleworth
Business & Trade
Context

The question discusses the issue of late payments to small businesses, which has risen by 7% last year, causing insolvency issues.

Question

What are the Government doing through project bank accounts to reduce the impact of late payments, especially given their role as a major contractor?

Answer from Nigel Huddleston

The Government put pressure on the public sector regarding late payments last year, and there will continue to be pressure on the private sector as well. The hon. Lady raises an important issue supported across the Chamber.

Partly answered

Not addressed: Did not specify concrete actions being taken through project bank accounts

Was this summary accurate? Tell us

How accurate was this summary? (1 = poor, 5 = spot on)

Get updates like this by email