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Small Businesses

Volume 485: debated on Thursday 18 December 2008

7. To ask the Chancellor of the Exchequer what assessment he has made of the likely effect on small businesses of the measures announced in the pre-Budget report. (244637)

The PBR announced new facilities for over £2 billion additional support for SMEs in accessing credit, more generous loss relief, a new HMRC support service, and deferral of the increase in the small companies rate of corporation tax.

This is worth £1 billion of tax cuts, £2 billion in loan guarantees, along with £4 billion of European money—£7 billion in total.

Since PBR HMRC's new support service has helped 6,250 businesses spread around £110 million worth of tax payments.

10. To ask the Chancellor of the Exchequer what assessment he has made of the effect on the economy of the measures to assist small businesses announced in the pre-Budget report. (244640)

The PBR announced new facilities for over £2 billion additional support for SMEs in accessing credit, more generous loss relief, a new HMRC support service, and deferral of the increase in the small companies rate of corporation tax.

This is worth £1 billion of tax cuts, £2 billion in loan guarantees, along with £4 billion of European money—£7 billion in total.

Since PBR HMRC's new support service has helped 6,250 businesses spread around £110 million worth of tax payments.

17. To ask the Chancellor of the Exchequer what steps he is taking to increase the supply of credit to small businesses. (244649)

In addition to the establishment of the Lending Panel, the Government also announced at PBR 2008 a package to assist small and medium enterprises facing credit constraints.

This package included the establishment of the Small Business Finance Scheme, a Export Credits Guarantee Department scheme, and a number of other actions. When combined this package will facilitate over £2 billion of extra support to SME's experiencing short-term financial difficulties.

18. To ask the Chancellor of the Exchequer what assessment he has made of the likely effect on small businesses of the measures announced in the pre-Budget report. (244650)

The PBR announced new facilities for over £2 billion additional support for SMEs in accessing credit, more generous loss relief, a new HMRC support service, and deferral of the increase in the small companies rate of corporation tax.

This is worth £1 billion of tax cuts, £2 billion in loan guarantees, along with £4 billion of European money—£7 billion in total.

Since PBR HMRC's new support service has helped 6,250 businesses spread around £110 million worth of tax payments.