Small Businesses: Government Assistance

Department for Business and Trade written question – answered on 28 March 2023.

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Photo of Bill Esterson Bill Esterson Shadow Minister (Business and Industrial Strategy)

To ask the Secretary of State for Business and Trade, what steps she plans to take to support small and medium sized businesses with the effects of trends in the level of (a) inflation and (b) energy costs.

Photo of Kevin Hollinrake Kevin Hollinrake Parliamentary Under Secretary of State (Department for Business and Trade)

Government recognises the impact of increased costs on small businesses and is freezing the business rates multiplier for another year, worth £9.3 billion over the next 5 years. Small to medium sized businesses will have also benefitted from a range of government measures, including reversal of the National Insurance rise, cut to fuel duty for 24 months, support via the Energy Bill Relief Scheme and an increase in the Employment Allowance to £5,000.

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