Extracts from Westminster Hall debate on SMEs and the Net Zero Target - Nov 17
Wednesday, 18 November 2020 08:35
Kevin Hollinrake (Thirsk and Malton) (Con):...We need a
sector-specific just transition road map that looks at every
different sector. If some of the current provisions for
hospitality, such as the VAT cut, were extended or made permanent,
that would be welcome. The British Business Bank needs a role in
supporting and advising SMEs. We need to standardise
just-transition restructuring, so that if businesses are seen as
being in a sector that banks do not want to support, there is a
proven...Request free trial
(Thirsk and Malton) (Con):...We need a
sector-specific just transition road map that looks at every
different sector. If some of the current provisions for
hospitality, such as the VAT cut, were extended or made permanent,
that would be welcome. The British Business Bank needs a role in
supporting and advising SMEs. We need to standardise
just-transition restructuring, so that if businesses are seen as
being in a sector that banks do not want to support, there is a
proven standardised process for taking those SMEs from where they
are today into the greener future. The shared prosperity fund should be used
to support SMEs to make the transition and we should have a fiscal
policy that is conducive to allowing SMEs to make the transition,
with tax breaks, for example, to decarbonise...
(Gordon) (SNP):...We have heard points made about
the shared prosperity fund. I could have a debate
all to myself about the bumpiness and uncertainty around devolved
funding at the moment. I will not go down that particular rabbit
hole at this point, except to say that it helps if there is clarity
on investments and no cliff edges from the Government. That will
enable the making of strategic, tailored decisions to get us to our
goal...
...To wrap up, it is imperative that the Government
prioritise the SME sector. We need sector-specific roadmaps with
clear goals and deadlines. We need to extend the mandate for
British business banks’ support for SMEs making the transition, and
make specific provision for SMEs in the shared prosperity
fund. We need a more expansionary fiscal policy to support
SMEs, and we need to encourage the diversity of supplies to
SMEs...
To read the whole debate, CLICK
HERE
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