11 August 2011
Following the Chancellor's Commons statement on the turmoil in the world’s financial markets and what it means for the economy, Geoffrey Clifton-Brown asks what more can be done to help small businesses.
Geoffrey Clifton-Brown (The Cotswolds) (Con): What further help can the Chancellor give small businesses, 4.5 million of which employ fewer than five people? If a quarter of them employed an extra person, that would make a huge dent in the unemployment register.
Mr Osborne: Small businesses are, of course, the engine of job creation in our country. As I have said, 500,000 new jobs have been created in the private sector over the last year. That is the second highest rate of job creation in the G7. As for specific help for small businesses, we avoided the increase in small business taxation that the Labour party included in its last Budget.
Gavin Shuker (Luton South) (Lab/Co-op) indicated dissent.
Mr Osborne: The hon. Gentleman shakes his head. He obviously did not know that there was to be an increase in small business taxation. We have cut it.
We have also introduced support for the exports of small business. A central part of the strategy developed by Stephen Green as trade Minister is helping small businesses to export. I have already mentioned the Merlin lending agreements with banks, which are beginning to bring about an increase in lending to businesses that simply was not happening last year.
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Geoffrey Clifton-Brown (The Cotswolds) (Con): What further help can the Chancellor give small businesses, 4.5 million of which employ fewer than five people? If a quarter of them employed an extra person, that would make a huge dent in the unemployment register.
Mr Osborne: Small businesses are, of course, the engine of job creation in our country. As I have said, 500,000 new jobs have been created in the private sector over the last year. That is the second highest rate of job creation in the G7. As for specific help for small businesses, we avoided the increase in small business taxation that the Labour party included in its last Budget.
Gavin Shuker (Luton South) (Lab/Co-op) indicated dissent.
Mr Osborne: The hon. Gentleman shakes his head. He obviously did not know that there was to be an increase in small business taxation. We have cut it.
We have also introduced support for the exports of small business. A central part of the strategy developed by Stephen Green as trade Minister is helping small businesses to export. I have already mentioned the Merlin lending agreements with banks, which are beginning to bring about an increase in lending to businesses that simply was not happening last year.
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