Question to the HM Treasury:

To ask the Chancellor of the Exchequer, if he will provide funding to food and drink wholesalers to account for excess stock accumulated by those businesses (a) in response to the end of the transition period and (b) as a result of hospitality and school closures during the covid-19 lockdown announced in January 2021.

Throughout the Covid-19 crisis, the Government has protected people’s jobs and livelihoods while also supporting businesses and public services across the UK. Food and drink wholesalers have been eligible for a number of economic support schemes, including:

• The Coronavirus Job Retention Scheme, which has been extended until the end of April 2021 for all parts of the UK;
• The opportunity to defer VAT payments due between 20 March and 30 June 2020; and
• The Bounce Back Loan Scheme for small businesses to borrow between £2,000 and £50,000, with no interest payments or fees for the first 12 months.

The UK-EU Trade and Cooperation Agreement ensures UK businesses can continue to buy and sell goods from EU customers without tariffs or quotas.