You've been telling me small businesses needed support, so that was my favourite part of the Budget
“I'm going to keep fighting with you, so tell me what you need.”
Lorraine Beavers, MP for Blackpool North and Fleetwood, has welcomed small business support measures announced in the Budget, highlighting changes to business rate relief and support for young entrepreneurs.
Beavers said the measures would help local businesses, particularly those operating in the retail, hospitality and leisure sectors, while acknowledging that further action was needed to bring jobs, investment and industry to the community.
“There was lots of positive stuff in the budget today, but my favourite bit was the small business support. You've been telling me that small businesses have needed this, and the Government has taken action.”
The measures highlighted by Beavers include raising the business rate relief threshold from £12,000 to £18,000, which she said would reduce bills for many local businesses. The taper threshold is also being raised to £21,000, while business rates will be frozen until 31 March 2029.
Beavers also pointed to the young entrepreneurship scheme, which will pay one year's living costs to help young people establish their own businesses. She said: “The young entrepreneurship scheme will also pay one year's living costs, so young people have the stability and opportunity to start their businesses too.”
The MP said the changes primarily applied to retail, hospitality and leisure businesses, but stressed that more work was needed to support the local economy. “These changes apply primarily to retail, hospitality, and leisure businesses, so I know there's a lot more to do to bring jobs, investment, and industry to our community.
“I'm going to keep fighting with you, so tell me what you need.”
Beavers said she would continue working with local residents and businesses to understand their needs and push for further support for the Blackpool North and Fleetwood constituency.