Business

Treasury written question – answered on 17th October 2019.

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Photo of Tom Brake Tom Brake Liberal Democrat Spokesperson (Exiting the European Union), Liberal Democrat Spokesperson (Duchy of Lancaster)

To ask the Chancellor of the Exchequer, with reference to the Answer of 7 October 2019 to Question 292791 and the article published in the Times on 10 August 2019 entitled Bailout fund to prop up businesses after Brexit, what assessment his Department has made of which businesses are at high risk of collapse in the event that the UK leaves the EU without a deal; and what funding has been allocated to supporting those businesses.

Photo of Rishi Sunak Rishi Sunak The Chief Secretary to the Treasury

HM Treasury continue to monitor and work closely with businesses across the country to help ensure they are fully prepared for when the UK leaves the EU.

The government has already made £6.3 billion available to prepare for EU Exit. From this we have created £108m of funding for Brexit Business Preparedness – which is being allocated across government to ensure businesses are suitably prepared for EU exit.

In the event of no deal, the government would act quickly to outline our approach and take early action to support the economy, businesses and households. This would be followed by a Budget in the weeks thereafter.

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