Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what plans his Department has to support businesses through the transition period as the UK leaves the EU.

Following my rt. hon. Friend the Prime Minister’s agreement to an extension to Article 50 until October 31 2019, we will continue to provide businesses with the information and advice they need to prepare for EU Exit.

Extensive engagement will continue to take place between Government and industry in preparation for EU exit. Through various channels, BEIS Ministers and officials have been engaging widely with businesses and trade associations each week on EU Exit. In particular, our communications and provision of materials to intermediaries is provided to ensure business obtain information quickly and efficiently.

We will continue to use the public information campaign which directs businesses to GOV.UK/euexit where they are able to find the latest advice and information on many aspects of leaving the EU that may affect them and outlines the steps they need to take.

We recognise the uncertainty that businesses have expressed and we are committed to maintaining and improving the excellent UK business environment. The British Business Bank programmes are supporting more than £5.9 billion of finance to over 82,000 smaller businesses.

Further, at Budget 2018, the Start-up Loans programme was extended by one year to April 2021 meaning that another 10,000 loans will be made to entrepreneurs. We are also currently taking action to reduce the costs of doing business, including cutting corporation tax to 19%.

Businesses can also apply for HMRC grants, depending on their circumstances to support private customs intermediaries, and traders to increase their capacities, and train employees in preparation for EU exit. Business can apply for this funding from HMRC until 31 May 2019.