Oral Answers to Questions

Lord Benyon Excerpts

Wednesday 23rd October 2013 Commons Chamber

[The Prime Minister]

To my memory, I have never been lobbied on this particular issue. I looked at it this morning. The Treasury has listened very carefully to the arguments and has made the decisions for the reasons that the hon. Lady knows.

[Richard Benyon (Newbury) (Con)]

More than 300,000 new businesses have been registered in the United Kingdom over the past three years—that is a record figure. The key priority in supporting those businesses over the difficult first few years of trading is to make sure that we bear down on regulation. Much has been done through the red tape challenge, one-in, one-out and other measures. What more can the Government do to support these risk-takers at this difficult time?

[The Prime Minister]

I am grateful to my hon. Friend for his question. The news out today is that we now have the largest number of companies we have ever had in our country, and over the past three years we have seen 400,000 extra companies established. What we have to do is help them in every way we can. The most powerful thing we are doing is cutting the national insurance that they will have to pay by £2,000, starting next year. That will be a real boost to small businesses. On the red tape they are currently throttled with, we are dealing with that at every level, including at the European Council coming up this week, where I have organised a meeting for our businesses to explain their proposals for cutting red tape to fellow European leaders from Finland, Italy, Germany and elsewhere. It is an agenda right across the board to help small businesses grow our economy.