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

To ask Her Majesty's Government what plans they have to support small businesses in light of the Office for National Statistics release Producer price inflation, UK: May 2022, published on 22 June, showing that in the last year factory gate prices rose by 15.7 per cent and producer input prices rose by 22.1 per cent.

Small businesses will benefit from the £15 billion of targeted government support to help with the rising cost of living. This brings the total cost of living support measures announced to £37 billion this year. Government has cut fuel duty for 12 months, raised the Employment Allowance to £5,000, and is zero-rating VAT on energy-saving materials. This builds on existing support, including business rates relief worth £7 billion over five years.

Additionally, Help to Grow programmes will enable eligible SMEs to mitigate the effects of rising costs by providing financial discounts on approved digital technologies up to a value of £5000 and improving SME leadership and management skills though subsidised courses.