Covid-19 High Street Businesses 2020-09-15
2020-09-15
TAGS
Response quality
Questions & Answers
Q1
Direct Answer
▸
Context
The MP raised concerns about the impact of the pandemic on retail and high street businesses, emphasizing the need for fiscal measures to support them.
What fiscal steps is he taking to support retail and high street businesses affected by the covid-19 outbreak?
The Government have delivered a package of support totalling close to £200 billion, including affordable Government-backed loan finance, the job retention scheme and deferred VAT. Retail businesses received a 12-month business rates holiday and retail, hospitality and leisure grants worth £10,000 or £25,000.
▸
Assessment & feedback
Response accuracy
Q2
Partial Answer
▸
Context
The MP highlighted the economic and social loss that online trading is causing for towns, cities and high streets, accelerated by the pandemic. He asked if the Government would now consider an online sales tax.
Surely must not the Government now start to consider a VAT-style online sales tax?
The Government are committed to a fundamental review of business rates and have invited views on reform and potential alternative taxes, including an online sales tax. The intention is carefully to consider the merits and risks of introducing such a tax.
▸
Assessment & feedback
introducing an online sales tax specifically
Fundamental Review
Considering Merits And Risks
Response accuracy
Q3
Partial Answer
▸
Context
The MP pointed out that while wealthier inner-city areas have received substantial support, many constituencies in the Midlands and the north have received significantly less. He questioned whether this aligns with the Government's 'levelling up' agenda.
While a number of wealthier inner-city areas have received over £100 million each in rate relief and small business grants, many constituencies in the midlands and the north have been left behind, with some receiving barely a fifth of that support or even less. Is that what the Government meant by levelling up?
The Chancellor highlighted that the intention has been to support vulnerable people, businesses and families across the country. The evidence appears to be that targeted support was felt at the lower end of the income spectrum, with a retail business in this country stating without the furlough scheme it would have laid off 30,000 people.
▸
Assessment & feedback
disparity in financial support for different regions during the pandemic
Supporting Vulnerable People
Targeted Support At Lower Income Spectrum
Response accuracy