Rt Hon Sir David Evennett, MP for Bexleyheath and Crayford and Vice Chairman of the Conservative Party, hailed the Chancellor of the Exchequer’s Budget as “measured, sensible and constructive” in the House of Commons yesterday (3 March).
As part of the Government’s commitments to fund the nation’s priorities, the Budget confirmed:
- A continuation of the temporary Universal Credit uplift for a further six months.
- New support for providing young people with new skills, including doubling the incentive payment to SMEs to take on apprentices of any age to £3,000, and £126 million to triple the number of traineeships next year.
- An extension of the Coronavirus Job Retention Scheme until the end of September, ensuring it continues to support employers as they begin to reopen. Two further grants will also be available to self-employed people – and the newly self-employed will also be eligible for both grants.
- New Recovery Loans and a new Restart grant of up to £18,000 to help businesses as they reopen. Support for the sports, arts and culture sectors will also be increased by a further £700 million as they begin to reopen.
- Extending the business rates holiday and providing a VAT cut for businesses in hospitality and tourism.
- A new Help to Grow scheme to boost productivity of small businesses, to ensure they are embracing the latest technology and management training.
Sir David participated in the Budget debate virtually and highlighted the support the Chancellor is providing and that “although so many challenges for businesses still remain, this is undoubtedly a Budget for business and getting the economy back on track”. He concluded that “The Budget provides us all with hope for the future and allows us to begin to get the economy moving again”.