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Public Expenditure: Coventry

Volume 492: debated on Wednesday 20 May 2009

To ask the Chancellor of the Exchequer what assessment he has made of the effect of the 2009 Budget on small businesses in Coventry. (272955)

Building on the £20 billion fiscal stimulus announced in the pre-Budget report, the Chancellor set out a Budget which will provide further targeted support for individuals and businesses through the current downturn, while ensuring the economy is able to make a strong and sustainable recovery.

Tax policies announced from the 2008 pre-Budget report are delivering £3 billion to improve business cash flow, complemented by £2 billion of lending support. Budget 2009 announced a further £3 billion to improve business cash flow and encourage future investment, as well as up to £5 billion of trade credit insurance support.

Budget 2009 also announced the expansion of HMRC's Business Payment Support Service to offer enhanced support for firms making losses now. Since the 2008 pre-Budget report this service has reached 490 agreements with businesses in Coventry to spread tax payments worth £10 million.

Details of the impact of Budget measures on the west midlands region can be found at

http://budget.treasury.gov.uk/regions.htm