To ask the Secretary of State for Business, Energy and Industrial Strategy, whether his Department has made an assessment of the implications for its policies of the predictions of industry leaders that one third of fish and chip shops will have to close as a result of escalating costs.
1 March 2022
We recognise the impact rising prices will have on businesses of all sizes and the Government is in regular contact with business groups and suppliers to understand the challenges they face and explore ways to protect businesses.
In response to the pandemic we put in place one of the world’s most comprehensive economic responses worth £400 billion, including business grants, loans, business rates relief, and VAT discounts. In total, over £37 billion has been provided to the tourism, leisure and hospitality sectors in the form of grants, loans and tax breaks. In addition, on 21 December, my Rt. Hon. Friend Mr Chancellor of the Exchequer announced a further £1 billion support for businesses most impacted by Omicron across the UK, including a more than £100 million boost to the Additional Restrictions Grant for Local Authorities to support other businesses. We are encouraging councils to provide the funding to businesses as quickly as possible.