Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what support is available to small hospitality businesses affected by rising (a) fuel costs and (b) VAT from 1 April 2022.

The government has prioritised support for SMEs by cutting business rates by 50% for eligible retail, hospitality and leisure businesses, providing a 95% subsidy for apprenticeships, and supporting them to invest and grow by increasing the Annual Investment Allowance to £1 million. The Help to Grow scheme provides eligible SMEs with a 90% subsidy for world class management training and subsidises the cost of new software up to £5,000.

The Spring Statement 2022 went further and cuts the cost of employment for half a million small businesses, by increasing the Employment Allowance from £4,000 to £5,000. This means that from April, 670,000 businesses will not pay NICs and the Health and Social Care Levy. In addition, the main rates of petrol and diesel duty will be cut by 5 pence per litre, the largest cash terms cut that has ever been applied to fuel duty rates at once.