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Small Manufacturing Business

Part of Oral Answers to Questions — Treasury – in the House of Commons at 2:30 pm on 16 March 2010.

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Photo of Barry Sheerman Barry Sheerman Chair, Children, Schools and Families Committee, Chair, Children, Schools and Families Committee 2:30, 16 March 2010

Is my right hon. Friend aware that many businesses, such as manufacturing businesses in Yorkshire and especially Huddersfield, very much value the range of incentives that they have, particularly the research and development tax credits? Does he also understand that they are very worried? One business man said that he could not sleep at night because of thoughts of a naive new Chancellor sweeping all this away.

Chancellor

The Chancellor - also known as "Chancellor of the Exchequer" is responsible as a Minister for the treasury, and for the country's economy. For Example, the Chancellor set taxes and tax rates. The Chancellor is the only MP allowed to drink Alcohol in the House of Commons; s/he is permitted an alcoholic drink while delivering the budget.