Kirsty Blackman
Main Page: Kirsty Blackman (Scottish National Party - Aberdeen North)Department Debates - View all Kirsty Blackman's debates with the HM Treasury
(5 years, 1 month ago)
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Mel Stride
We have already brought in some important measures to do just that, not least by increasing the annual investment allowance from £200,000 to £1 million, as announced at the previous Budget. We keep all taxes under review and I will certainly bear my hon. Friend’s important point in mind.
Kirsty Blackman (Aberdeen North) (SNP)
In a recent survey by the Fraser of Allander Institute, 62% of Scottish businesses said that they did not feel ready for Brexit. Will the Chancellor bring forward an emergency Budget to provide support for small and medium-sized enterprises so that they can cope with the Brexit that he proposes?
Mel Stride
My right hon. Friend the Chancellor has made it clear that, in the event of a no-deal Brexit, we will take stock of the situation and take whatever measures are necessary to ensure that we protect and support businesses throughout the United Kingdom.
Kirsty Blackman
I was specifically talking about the Brexit that the Chancellor is proposing, which is presumably not a no-deal Brexit, although it looks like 100,000 jobs could be lost in Scotland as a direct result of no deal. However, in relation to the deal Brexit, the Bank of England has said that unemployment could be up to 4% higher by 2023 if the Prime Minister’s deal is approved. Does the Chancellor believe that keeping his job is worth costing thousands of others?
Mel Stride
I do not believe that the figure to which the hon. Lady refers is accurate. This Government have seen employment at a record high and unemployment at the lowest level since 1975, and youth employment is half what it was in 2010—unlike the Labour Government, who saw youth unemployment increase by almost 50%.