The Budget will allow businesses to recover from the pandemic and provide certainty for the economy according to local MP Mark Pawsey, who spoke in Parliament on Monday during the Budget Debate.
During his speech, Mark highlighted that Budget, set out by the Chancellor on Wednesday 5th March 2021, continues the unprecedented support for jobs over the next six months thanks to the continuation of the furlough scheme and grant funding. Mark praised the additional support being provided for the leisure, hospitality, arts and culture sectors which have been particularly badly hit by coronavirus.
Mark also drew attention to the “Help to Grow” scheme, a new Government initiative launching later this year for small businesses. The programme, being delivered alongside leading business schools, is designed to help small businesses grow and develop, with a focus on financial management and digital adoption. In total, the scheme is expected to support 30,000 leaders and managers within the small business sector over a 12-week course.
Speaking after the Budget debate, Mark said:
“As someone who ran my own small business before becoming a Member of Parliament, I am delighted to see the Government launching the ‘Help to Grow’ scheme which provides on the job training for businesses owners. Small businesses are a vital part of our economy, accounting for 99% of all businesses and nearly 61% of all private sector employment. Helping them to grow and adapt to the changing world of work will boost our economy and create the success stories of tomorrow.”
“When I was running my business, I didn’t know where this kind of support was available. I can therefore really see how this will help businesses and business owners achieve their potential which will help our economy recover. From the work done by the Business, Energy and Industrial Strategy Select Committee we know that businesses grow faster when managers are able to undertake this kind of training so I hope that companies here in Rugby and Bulkington will seize this opportunity.”
“I was also very pleased to see the Government ensure that support continues to be provided for the sectors of our economy which have been hardest hit by Covid. It is good news that as restrictions are set to be lifted, events such as the Coventry City of Culture and the rugby league world cup, which will see matches played at the Ricoh Arena in Coventry, due to begin. This will provide a big boost to our local culture and hospitality sectors, alongside the additional grant funding which the Chancellor has announced.”