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1686946

registered interest
date	01/02/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following reports that corporate insolvencies rose to their highest level in 30 years last year, what steps they are taking to assist companies that are struggling.
tabling member printed	Lord Taylor of Warwick
uin	HL2153
answer	answer is ministerial correction date of answer 15/02/2024 answer text <p>The Government delivered nearly £27 billion of Business Grant Support during the pandemic and continues to support UK small businesses via a substantial business rates package worth £4.3 billion over the next 5 years. The Energy Bill Relief Scheme protects eligible businesses from excessively high energy bills over winter periods.</p><p> </p><p>The British Business Bank supports 12.4bn of finance through targeted interventions such as The Recovery Loan Scheme and Pay as You Grow for businesses under the Bounce Back Loan Scheme, offering repayment options where required.</p><p> </p><p>Additional SME support is available via GOV.UK, the Business Support Helpline and local Growth Hubs.</p> answering member printed Lord Offord of Garvel question first answered 15/02/2024 10:47:28 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1686948

registered interest
date	01/02/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	UK Trade with EU: Costs
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following reports that businesses have faced increasing difficulties and costs trading with the EU since Brexit, what steps they are taking to (1) identify areas of improvement, and (2) provide support.
tabling member printed	Lord Taylor of Warwick
uin	HL2155
answer	answer is ministerial correction date of answer 13/02/2024 answer text <p>The UK-EU Trade and Cooperation Agreement allows for a new relationship with the EU, giving us the freedom to do things differently and better.</p><p> </p><p>The Department is leading a cross-government effort to identify trade barriers and break them down with our EU partners. For example, in the year to March 2023, we broke down 45 market access barriers in the HMTC Europe region, a 10% increase year-on-year.</p><p> </p><p>HMG provides a wide range of support, including help to grow overseas by providing information, training, and expert support to exporters, whilst HMRC’s Customs &amp; International Trade Helpline ensures businesses have access to the additional support they need.</p> answering member printed Lord Offord of Garvel question first answered 13/02/2024 14:25:43 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1682838

registered interest
date	17/01/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Insolvency
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, further to recent figures released by the Government Insolvency Service which found that 2002 companies were declared insolvent last month, what plans they have to support companies facing monetary challenges and mitigate the rise in insolvencies.
tabling member printed	Lord Taylor of Warwick
uin	HL1722
answer	answer is ministerial correction date of answer 31/01/2024 answer text <p>While insolvencies have risen in absolute terms, when this is compared to the number of active firms in the economy, the proportion of liquidations is well below previous periods of high insolvency numbers. The Government continues to help businesses with measures such as the Energy Bills Discount Scheme; the frozen business rates multiplier for 2023/24 resulting in bills that were 6% lower; increased 75% business rates relief for retail, hospitality and leisure properties; £1.6bn Transitional Relief, protecting ratepayers facing bill increases and the Supporting Small Business scheme that provides over £500 million in support.</p> answering member printed Lord Offord of Garvel question first answered 31/01/2024 16:04:19 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1681743

registered interest
date	11/01/2024
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Small Businesses: Government Assistance
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have to support small firms struggling financially as a result of adverse economic conditions.
tabling member printed	Lord Taylor of Warwick
uin	HL1540
answer	answer is ministerial correction date of answer 23/01/2024 answer text <p>Small and medium sized businesses are the backbone of our economy, driving economic growth. The Department for Business and Trade continues to deliver over 40 support schemes that help businesses start, grow and export. At the Autumn Statement, my Rt Hon Friend the Chancellor announced further support for SMEs over the next five years. This support can be accessed through local Growth Hubs, Help to Grow and a dedicated Business Support Helpline. In addition, The British Business Bank improves access to finance to help businesses invest and grow. It currently supports over £12.<ins class="ministerial">4</ins><del class="ministerial">2</del>bn of finance to over 9<ins class="ministerial">0</ins><del class="ministerial">6</del>,000 <ins class="ministerial">businesses</ins><del class="ministerial">SMEs</del>.</p> answering member printed Lord Offord of Garvel question first answered 23/01/2024 17:07:40 question first ministerially corrected 09/02/2024 12:23:39 answering member 4931 label Biography information for Lord Offord of Garvel previous answer version 13163 answering member printed Lord Offord of Garvel answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1676841

registered interest
date	11/12/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Business: Recruitment
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government, following recent reports that starting salaries in Britain have risen at their slowest pace in nearly three years, what steps they are taking to support businesses in maintaining competitive compensation to attract new employees.
tabling member printed	Lord Taylor of Warwick
uin	HL1083
answer	answer is ministerial correction date of answer 27/12/2023 answer text <p>Starting salaries are contractual arrangements between employers and their staff. Workers must be paid at least the National Living Wage / National Minimum Wage for the hours they work. On 1 April 2024, the government will increase the National Living Wage for workers aged 21 years and over by 9.8% to £11.44 an hour. The government recently announced a significant package of support for UK businesses, including business rates support worth £4.3 billion over the next 5 years, targeting support at those who need it most.</p> answering member printed Lord Offord of Garvel question first answered 27/12/2023 12:24:56 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1675719

registered interest
date	05/12/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Economic Growth
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what plans they have, if any, to alter trade policy to enhance economic growth, further to the recommendations made in the final report of the Economy 2030 inquiry, Ending Stagnation: A New Economic Strategy for Britain, published by the Resolution Foundation on 4 December.
tabling member printed	Lord Taylor of Warwick
uin	HL886
answer	answer is ministerial correction date of answer 19/12/2023 answer text <p>The Government notes the report and is already working to deliver economic growth through our trade strategy. We are opening markets through trade agreements and bilateral relationships, protecting UK business, and working to strengthen the World Trade Organisation and global rulebook. We are focused on deepening economic relationships with high-growth countries and providing businesses with the right foundations to drive growth and raise living standards. Noting the recommendation on services, we continue to negotiate ambitious commitments in Free Trade Agreements to remove barriers to services trade, provide greater choice, innovation, competition, and deliver meaningful benefits to UK businesses and consumers.</p> answering member printed Lord Offord of Garvel question first answered 19/12/2023 14:53:22 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1675720

registered interest
date	05/12/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Business: Artificial Intelligence
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to assess the benefits, challenges and regulatory considerations of the potential integration of artificial intelligence in auditing practice within firms.
tabling member printed	Lord Taylor of Warwick
uin	HL887
answer	answer is ministerial correction date of answer 19/12/2023 answer text <p>The Financial Reporting Council has conducted outreach with its regulated communities, establishing a Technology &amp; Digital Steering Group, publishing work on the use of technology and committing to “promote improvement and innovation”. Overall, its view is that use of artificial intelligence and machine learning tools by those for which it has regulatory responsibility presents potential opportunities for quality improvements, though there are risks which require mitigation. The FRC continues to work on initiatives to support the safe use of these tools by audit firms, based on the principles in the Government's March 2023 white paper, “AI regulation: a pro-innovation approach”.</p> answering member printed Lord Offord of Garvel question first answered 19/12/2023 14:54:05 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1674535

registered interest
date	30/11/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Supermarkets: Prices
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what assessment they have made of the impact of supermarket loyalty schemes on price transparency and affordability for consumers.
tabling member printed	Lord Taylor of Warwick
uin	HL780
answer	answer is ministerial correction date of answer 14/12/2023 answer text <p>The Competition and Markets Authority (CMA) are beginning a review into the use of loyalty scheme pricing by supermarkets in early 2024.</p> answering member printed Lord Offord of Garvel question first answered 14/12/2023 17:52:36 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1674227

registered interest
date	29/11/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Retail Trade: Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what steps they are taking to support retailers in continuing the downward path of inflation.
tabling member printed	Lord Taylor of Warwick
uin	HL740
answer	answer is ministerial correction date of answer 13/12/2023 answer text <p>In his Autumn Statement, the Chancellor announced a business rates support package worth £4.3 billion over the next five years to support small businesses and the high street.  The small business multiplier will be frozen for a fourth consecutive year, and Retail, Hospitality and Leisure relief will be extended, ensuring the most vulnerable businesses continue to be supported.</p><p> </p><p>HM Treasury estimates also suggest that making full expensing permanent will benefit the retail sector by around £1 billion per year.</p><p> </p><p>Government is committed to using our post-Brexit freedoms to help businesses expand, create more jobs and grow the UK economy. We have already secured trade deals with 73 countries, plus the EU, that accounted for £1.1 trillion of UK bilateral trade last year. We are focused on priority trade barriers, which could boost UK exports by around £20 billion over five years.</p> answering member printed Lord Offord of Garvel question first answered 13/12/2023 16:53:25 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick

1672512

registered interest
date	22/11/2023
answering body	Department for Business and Trade
answering dept id	214
answering dept short name	Business and Trade
answering dept sort name	Business and Trade
hansard heading	Small Businesses: Inflation
house id	2
legislature	25277 pref label House of Lords
question text	To ask His Majesty's Government what support they are providing to small businesses experiencing financial pressure as a result of customers being unable to afford items or services because of inflation.
tabling member printed	Lord Taylor of Warwick
uin	HL529
answer	answer is ministerial correction date of answer 06/12/2023 answer text <p>The government aims to make the UK the best place in the world to start, scale up, and grow a business. Our Business Support Helpline and Growth Hubs provide expert advice, guidance, and signposting to all types of business. The Government-backed British Business Bank (BBB) improves access to finance for business.</p><p> </p><p>In the 2023 Autumn Statement, the chancellor announced further measures to support small businesses. The Small Business Rate Relief is available to businesses, and eligible properties will receive 100 per cent relief, which means around a third of businesses in England (713,000) will pay no business rates at all.</p> answering member printed Lord Offord of Garvel question first answered 06/12/2023 17:44:24 answering member 4931 label Biography information for Lord Offord of Garvel
tabling member	1796 label Biography information for Lord Taylor of Warwick