Town’s MP quizzes the Chancellor over assurance for firms
THE local MP has questioned the Chancellor of the Exchequer over economic assurances for towns like Rochdale once the pandemic ends.
Tony Lloyd, MP for Rochdale was speaking in the House of Commons after Chancellor Rishi Sunak’s Economic Update on Monday.
Mr Lloyd used the example of a business in the town which had to lay off staff after turnover had dropped by 40 per cent, to outline the impact of the pandemic on businesses.
He then asked what assurances there would be for small businesses in towns such as Rochdale once the pandemic ends.
The Labour MP said: “Amy Pierce, the director of a small company in my constituency, was doing well until the pandemic.
“Since then, her turnover has dropped by 40 per cent, but her costs have not. She has now had to lay off her staff, which is massively regrettable.
“What can the Chancellor say to small businesses like that to assure them that the employment base and the economic base will be there in towns such as Rochdale when the pandemic ends?”
In response the Chancellor offered sympathy for the plight of Amy’s business which he said has been mirrored across the country.
Chancellor Rishi Sunak said: “Hundreds of thousands of people have lost their jobs, and businesses are suffering. We have tried to protect as many as possible.
“It is not possible to protect all of them, but with the support that we have put in place, I am confident that we are helping many businesses, protecting many people’s incomes and saving many people’s jobs.
“I hope that his constituent’s business and many others can bounce back strongly once we are through this.”
In his initial update the Chancellor outlined measures to increase the government’s financial support.
“To do that, we have extended the furlough scheme to April, we are supporting selfemployed people with a fourth income grant, and we have announced, alongside the introduction of new restrictions, an extra £4.6 billion to protect UK jobs and businesses,” the Chancellor announced in his speech.
One-off grants of up to £9,000 can be claimed by all business premises in
England that are legally required to close, including in retail, hospitality and leisure.
This will benefit more than 600,000 businesses and comes on top of the existing grants worth up to £3,000 paid each month.
Discretionary funds of £500 million have also been made available for local authorities in England to support local businesses in those areas, including in Rochdale.