Budget Resolutions

Ellie Reeves Excerpts

Wednesday 31st October 2018 Commons Chamber

[Greg Clark]

I am grateful to my hon. Friend for his question, which gives me the chance to confirm that there will be £20 million of investment—and it is investment—in the centre of excellence in fusion research. It will pay dividends for many years to come. The discussions on the successor arrangements to Euratom have gone as I hoped they would—that is, cordially and expeditiously—and good progress has been made on all the issues under discussion. We have made the necessary agreements with most of our major counterparts.

On places, the Budget announced extra funding for the Strength in Places fund, supporting local collaborations between business and research across the UK. This was also an important Budget for Britain’s small businesses. Extending the start-up loans programme will help more aspiring entrepreneurs to take the plunge. Further funding for the knowledge transfer partnerships will place graduates in smaller firms across the United Kingdom. The fivefold increase in the annual investment allowance will help to support firms as they invest and grow, and the £1.5 billion boost to small high street retailers, including £900 million in business rates relief, will support small businesses right across the country.

[Ellie Reeves (Lewisham West and Penge) (Lab)]

The post office in our high street has been downgraded from a Crown post office and its services are being reduced. Our retailers in our high street are worried that this will mean fewer people coming into the community. What can the Minister say to reassure the retailers in our high street?

[Greg Clark]

One of our proudest achievements in Government has been to halt the destruction of the post office network—[Interruption.] It is substantially the same in numerical terms across the country as it was when we came into office. That is very important, for exactly the reason that the hon. Lady has set out. Post offices are crucial to many high streets and to the many small businesses that make use of their services.

We are in the early days of a period of spectacular opportunity for Britain. The truth is that none of the achievements that are within our grasp would be possible without the willingness of investors and entrepreneurs to take a risk in backing new ideas.