Economic Growth: North Wales

Treasury written question – answered on 17th July 2020.

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Photo of Simon Baynes Simon Baynes Conservative, Clwyd South

To ask the Chancellor of the Exchequer, with reference to the covid-19 outbreak, what steps he is taking to support regional economic growth in North Wales as the part of his economic recovery plans.

Photo of Simon Baynes Simon Baynes Conservative, Clwyd South

To ask the Chancellor of the Exchequer, what discussions he has had with the Welsh Government on supporting high street businesses impacted by the covid-19 outbreak in North Wales.

Photo of Steve Barclay Steve Barclay The Chief Secretary to the Treasury

The Treasury’s priority is to support the whole UK economy through Covid-19 and enable a strong and sustainable recovery from the crisis.

We have taken unprecedented steps to support viable businesses to stay afloat and protect the incomes of the most vulnerable. The Welsh Government and Office of the Secretary of State for Wales play a key part in these discussions, and there is regular engagement on local economic issues and plans on regional economic growth and recovery in Wales.

On 8 July, the Chancellor provided a Summer Economic Update to Parliament, where he announced new initiatives to help businesses recover across the UK, such as Eat Out to Help Out to generate consumer spending, and temporary reduced rates of VAT to support consumers and businesses in sectors which have been badly impacted. This is in addition to providing £2.8 billion to the Welsh Government through the Barnett formula to help the Welsh Government to respond to Covid-19 and meet the needs of its economy.

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